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Our
Fees
At the Trust
Company of Vermont, we may be unique in pricing our relationship.
Recognizing that our goal is to attract and maintain long term
family relationships, as well as the essential fairness of a fee
schedule that does not treat related accounts separately, the
following schedule is based on the market value of all related
accounts (personal trust accounts, management accounts, IRAs,
trusts for children and grandchildren) held for the benefit of
related family members:
Annual
Fees for Trusts & Investment Management Accounts
1%
of the market value of the first $500,000.
8/10 of 1% of the next $500,000.
6/10 of 1% of the next $500,000.
1/2 of 1% of the next $500,000.
3/10 of 1% of the next $500,000.
1/4 of 1% of the balance.
Annual
Fees for Non-Managed Accounts
One
half of the standard fee for managed accounts.
Our
policy is not to charge any additional fees. We do not assess
a base fee, minimum fee, excess disbursement fee, 12b-1 fee, tax
preparation fee, an accounting fee (except for testamentary trusts)
or termination fees in excess of out-of-pocket expenses. Consequently,
we conduct an account services evaluation before acceptance of
new relationships.
The
following illustrates the impact of fee reduction when related
accounts are combined for fee purposes:
| $500,000 |
1.00% |
$3,000,000 |
0.58% |
| $800,000 |
0.93% |
$4,000,000 |
0.49% |
| $1,000,000 |
0.90% |
$5,000,000 |
0.45% |
| $1,400,000 |
0.81% |
$6,000,000 |
0.41% |
| $1,800,000 |
0.75% |
$7,000,000 |
0.39% |
| $2,000,000 |
0.73% |
$8,000,000 |
0.37% |
| $2,500,000 |
0.64% |
$9,000,000 |
0.36% |
The
Significance of Our Logo
| Many
firms and individuals offer Investment Management. The cost
will vary depending on whether the manager makes his or her
fee from commissions or a percentage of the assets managed.
Those that charge based on asset value tend to assess a fee
from 1% to 3% annually. If mutual funds are used, the median
annual fee is 1.5%. |
| A
managed portfolio requires a Custodian to hold the assets
and attend to the details of asset handling such as buying
and selling, dividend collection, tax reporting and statements.
Costs vary from the nearly free to the expensive and related
services such as bill paying and tax lot accounting may not
be available. |
| Many
managed portfolios evolve into Trusts designed to provide
for ongoing investment management after the death or incapacity
of the owner, tax savings, and the care of investment needs
of more than one generation. Trust administration requires
specialists in order to avoid tax and legal problems. Costs
for such specialists, such as accountants who will file fiduciary
returns and lawyers who will advise the trustee of their accounting
and legal duties, vary widely. |
| The
Trust Company of Vermont provides all three services in one
package with extra features such as automatic payment of bills,
tax lot accounting and Internet access to statements. Our
fees start at 1% of managed assets and may decline as assets
grow in size (all family related accounts are treated as one
account for fee reduction purposes). |
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