9 Lowell Street, Beverly, Massachusetts, 0915-3652 - Phone 978.922.9961 - Fax 978.922-9961
Conflict Free Financial Planning, Investment Counseling & Financial Education
Fees

                                          
                                                  Investment Counseling Fees


In Seven Steps to Fatten Your Retirement Fund, published in the April 6, 2009 edition of Barron’s Karen Hube
writes, The average cost of a diversified stock mutual fund is 1.4% of assets, while investment advisors typically
charge about 1.25% to 1.5% of $250,000 under management, and less as assets increase.

The fees for our Investment Counseling Service are based on a percentage of the money we help you manage.
We charge 1% of assets for accounts under $500,000 with the fee dropping on a percentage basis as the size
of the account increases. A $1,000,000 account would be billed at 0.9% of assets while a $2,000,000 account is
billed at 0.7% of assets. For large accounts the fee drops below 0.5%. While we do not have an account
minimum for these services our minimum fee is $2,500. For this reason we believe these services are most
appropriate for investors with investment assets of approximately $250,000 or more. Investors with smaller
accounts may be better served by one of our investment planning services.

In addition to the advisor fees the client will incur mutual fund expenses. We use low-cost index funds with
estimated expenses of approximately 0.25%. For an explanation as to why index funds are used see the
philosophy section of this site.

Our advisory fees are between 20% and 30% lower than the fees charged by a typical investment advisor.
When you add our 1% fee for accounts under $500,000 with the estimated mutual expenses of 0.25% the
combined fee of 1.25% is lower than the 1.4% do-it-yourself investors would pay to invest in a diversified stock
mutual fund. Our clients receive independent, conflict free advice for less than do-it-yourself investors pay.

For a specific quote as to how much your fee would be contact us.
9 Lowell Street, Beverly, Massachusetts, 01915-3652 - Phone 978.922.9961 - Fax 978.922.9961
Conflict Free Financial Planning, Investment Counseling & Financial Education
Adam Smith                                                                                                                                                                               David Ricardo
Copyright © 2009 Thomas J. Costantini, Monserrat Advisory Services, LLC,  All Rights Reserved.