We have developed relationships with a number of custodians who do not charge custody fees (a fee, often as high as 0.30% of assets, paid to the custodian for maintaining a client’s account). Custody fees are an often overlooked cost of investment management that we believe should be minimized if possible. Our clients currently have accounts with five different custodians in North America and Europe that do not assess custody fees.
We are not limited to working with these custodians and will manage an account held with other custodians provided appropriate trading authorization can be arranged and data can be provided to us for performance and tax reporting purposes.
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