Our clients pay no commissions, trading costs, or brokerage fees.* Instead, Edelman Managed Asset Program® (EMAP) features a single annual fee. It is calculated quarterly and debited from your account in arrears, based on the beginning and ending values of all the accounts in your household (adjusted for any money you deposit or withdraw during the quarter). Your quarterly statement will show the management fee for the quarter; you will also receive a year-end summary.
The fee is based on the value of your account. So the more you invest, and the higher your account value grows, the lower your rate – potentially providing valuable savings to you.
The fee schedule for Traditional EMAP is:
- First $150,000 2.00%
- Next $250,000 1.65%
- Next $350,000 1.25%
- Next $250,000 1.00%
- Next $2 million 0.75%
- Next $7 million 0.60%
- Next $15 million 0.50%
- Amounts above $25 million are negotiable
*Clients pay a wrap fee, which covers brokerage execution costs, without regard to the number of transactions executed during the billing period. EFS has negotiated fees with TD Ameritrade, Fidelity, and Pershing Advisor Solutions (“PAS”) for clearing and execution services. Transaction costs imposed by these brokerage firms are covered as part of the wrap fee. The wrap fee does not include certain account and securities-related costs, including the fees embedded in the mutual funds, ETFs or annuities in which wrap fee accounts invest. In addition, the fee does not include debit balances, related margin interest, IRA and retirement plan fees, transfer fees, SEC fees, 12b-1 fees for certain money market funds, wire transfer fees, overnight check fees, account closing fees, paper statement delivery fees, non-standard asset fees, insufficient fund fees, returned check fees, transaction charges for fund level asset allocation model trades, expenses charged by the mutual funds (including management fees, transaction charges incurred for fund-level asset allocation model trades, custody of fund assets and other fund expenses), expenses charged by the variable annuities and exchange-traded funds, or other fees or taxes that are required by law. EFS may from time to time, at its sole discretion reimburse clients for certain fees or charges which are not due to the client’s error.
As noted above, we anticipate that transactions placed in your account will be executed through either TD Ameritrade, Fidelity, or PAS, however, in the limited circumstances described below, EFS may choose to execute trades with another broker-dealer if we reasonably believe that another broker-dealer can obtain a more favorable execution under the circumstances. Specifically, occasionally, (typically less than 5% of the time), EFS will utilize broker-dealers other than TD Ameritrade, Fidelity, or PAS to execute large transactions when we determine it is in our clients' best interest. This occurs when the size of the transaction in any one security is so large that it could cause the price of the security to fluctuate, up or down, resulting in an unfavorable execution price for our clients. We will typically execute such trades with a broker-dealer other than TD Ameritrade, Fidelity, or PAS if a different broker-dealer has the capability to handle such large transactions and to reduce or eliminate the potential negative price fluctuation. In these instances, the wrap fee does not include the compensation that is paid to the broker-dealer. This compensation is embedded into the price of the security which is paid by the client. These additional costs are in addition to the wrap fee paid by the client.
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