The total cost of your Altruistic Investing (AI) account has three components.
1. The Altruistic Investing fee is 75 basis points (0.75%) per year of your assets under management. This fee is pro-rated and charged quarterly (in arrears) based upon the market value of the average daily account balance of your accounts with ETFs. This fee covers brokerage, investment advisory and other related services defined in our customer agreement.
2. There is a small FINRA fee which appears as Self Regulated Organization (aka SRO) on your account. When securities are sold, our custodian Folio Investments charges this fee and passes it along to fund its government sanctioned regulator, FINRA. The SRO fee is now approximately $0.000022 for each dollar of securities sold ($0.22 on a $10,000 sale).
3. The ETF management fees on our models vary from 0.15% to 0.43% of your account balance, depending upon the specific portfolio we recommend for you. This is a weighted average of all the ETFs in the portfolio at this time. The price per share of an ETF includes these fees so there is not a separate charge to you directly.
The AI fee does not cover additional fees charged by Folio or other entities, such as wire transfer fees and taxes, paper statement fees, bounced checks fees, margin extension fees, safekeeping fees, termination fees and early redemption penalties. The Folio Investments pricing page can be found here.
Our custodian may charge additional fees for the services they provide:
- Wire Transfers Out: $30 per wire
- Full Account Transfer Out Fee: $100 per account
- Partial Account Transfer Out Fee: $5 per security ($25 min / $75 max)
- Returned Check or EFT: $35 per occurrence
- Stop Payment on Check: $35 per check
- Check Copy: $20 per check
- Disbursement of Funds by Check in Mail: $20 per check
- Express Mail: $30 per mailing, M–F delivery; $45 per mailing, Sat delivery
- Paper Copies of Account Statements & Confirmations: $12.50 per statement or confirmation request
- Mail Delivery of Monthly Statements: $150 per year ***We advise you to use electronic statements for security purposes and to avoid this cost***
- Trading Service Fees (SRO Fees): Fees to offset regulatory and transaction costs imposed relating to sell transactions in certain securities. Adjusted periodically.
- Residual Balance Fee: Quarterly fee applied to closed accounts under closed memberships that still have a balance. This fee or the lesser of the remaining account balance will be charged quarterly $15.
- IRA Custodial Fee $25 per year: For each IRA custodial account, Folio will apply this fee annually, or when you close your IRA if this fee has not already been applied for the year.
No, our trading is commission free.
No, you are not charged when using the ACH method to deposit or withdraw funds.
No, we charge a flat fee of .75% per annum. ETF fees are built into the price of the fund and do not come out of your account. We use ETFs in our portfolios because they generally carry a lower expense than a mutual fund and are more tax efficient.
Fees are charged quarterly in arrears.
All transactions including fees are shown on your account statement.