Portfolio Size	Annual Fee
$0 – $50,000	2.75%
$50,000 - $100,000	2.50%
$100,000 – $250,000	2.00%
$250,000 – $500,000	1.75%
$500,000 – $1,000,000	1.50%
Greater than $1,000,000	1.25%
Rates are subject to modification for nonprofit organizations. Fixed income portfolios and certain other situations are determined on a case-by-case basis.

Fee Structure

Clients are charged an annual fee for services. Fees are billed quarterly and payable in advance. Each calendar quarter billing will be one-quarter of an annual fee rate applied to the market value of the account at the end of the preceding quarter.

Custodial Agreement

Fieldstone has a custody/brokerage arrangement on behalf of its clients with Charles Schwab, a highly-rated deep discount broker. There are no account charges and clients receive monthly statements from Charles Schwab as well as copies of all trade confirmations. Funds not invested in securities are held in an interest-bearing money market account. For certain accounts, check-writing and debit card options are available at no cost.