What are the typical costs of Private Client Group’s money management arrangements?
When third party, institutional money managers are engaged, clients pay one flat, quarterly fee on the size of the account. For an account in the $1 million to $10 million range, the fee is normally 1 % to 1 1/2% per annum. That fee covers all expenses, including management, custody, transaction costs (commissions), quarterly reporting and benchmarking. If a client deposits securities into one of these managed accounts, the manager will liquidate the securities commission-free.