Fees
Cornerstone charges a quarterly management fee, based on the value of
your investment account on the last business day of each quarter.
Accounts are billed at the beginning of every quarter, and the fees are
deducted directly from each account. The annual percentage
rate is as follows:
1.50% on accounts under $ 200,000
On accounts over $ 200,000:
1.25% on the first............. $
500,000
1.00% on the next.............$ 500,000
0.75% on amounts over.....$1,000,000
Our requirement for new clients is $100,000 in total managed assets. This minimum requirement may be reached with multiple investment accounts. Some exceptions are made to our minimum. Please ask for details regarding those exceptions.
Cornerstone does not take physical possession of securities or cash. Therefore, we do not have authority to make withdrawals from your investment accounts. We only have power of attorney to make transactions on your behalf. Our custodian of choice is Charles Schwab & Company. We have a close working relationship with their Institutional Service Group. They provide assistance with our back office paperwork. The "Institutional" division of Schwab offers our clients several advantages over the traditional "Retail" branch. They offer no annual fee accounts, and lower trading costs for those clients who elect to receive electronic statements and confirmations. They also offer our clients a top notch service team to address ongoing operational needs. In addition to our quarterly performance reports, Schwab also provides monthly statements for each account.
The primary services we provide for the management fees charged are:
- Ongoing management of your investment accounts
- Quarterly Performance Reports that are simple and easy to read
- Semi-annual meetings with each client (Quarterly if requested)
- Semi-annual review & recommendations from your personal "Wealth Analyzer"
- Tax planning strategies to minimize taxes paid each year
- Year End Tax Reports (Realized Gains & Losses, Income and total
Management fees)