Management fees will be based upon the total market value of all of the assets under management including any securities purchased on margin. At the beginning of each calendar quarter the fee will be calculated and charged based on the total market value at the end of the previous quarter at the rate of:

1.50% on the first $500,000 1% on the next $500,000 0.75% on assets over the first million $2000 minimum annual fee

These fees are negotiable in certain circumstances, including but not limited to status as a family member or previous client of Cindi Showalter, the combined value of all household accounts, or certain other factors which may arise in the future. In addition, several accounts have negotiated a flat rate (rather than a staged rate) on accounts with more than $500,000 in assets. Full details are available in our brocure.