Management Fees

ABOUT US

INVESTMENT MANAGEMENT SERVICES: Tisch provides investment management services for individuals, corporations, retirement plans, trusts, and nonprofit organizations. Portfolios are comprised of stocks, bonds, and mutual funds. Tisch determines which general portfolio style is most appropriate after discussing your preferences, tolerance for risk, needs for income, tax situation, and estate and retirement planning goals. This information is summarized in an Investment Policy Statement which concludes with a portfolio strategy specifying the percentage of stocks, bonds, and mutual funds that can be held by the portfolio, the sectors into which investments can be made, and both the objective and benchmark standards which are appropriate for your portfolio. You may retain our services by approving an Investment Policy Statement and executing an investment management agreement.

We are not compensated on the basis of a share of capital gains or capital appreciation of investment funds. We do not accept commissions.

Fees for our services are: A one time $350 account set-up charge, plus an annual asset management fee that is billed at a rate of 1/12 each month in arrears as follows:

Mutual Funds:

$0-$1,000,000 1.00%

$1,000,001-$3,000,000 .85%

$3,000,001-$5,000,000 .75%

$5,000,001-thereafter .50%

Individual Stocks: The above fee, plus .25%

Bonds:

Fees are individually determined.

Minimum Annual Asset Management Fee: $500

All accounts controlled by the same individual or family will be aggregated for the purposes of meeting fee reduction thresholds.

Fees may be modified due to size of the account or specific engagement instructions agreed to by both you and us.

If you terminate our services anytime during the 12 months following the transfer of funds to our management, the normal Advisory fees are charged for the remaining months of the first 12 month period with the remainder due as a lump sum based on the account value as of the date of termination.

MANAGEMENT SERVICES FOR 401(k) PLANS: We select and monitor the performance of a grouping of mutual funds intended to meet ERISA standards. Services include selection of no-load mutual funds, monitoring of fund performance, and replacement of funds when necessary, quarterly reporting to Trustees and plan participants of fund performance and comparison of performance to industry benchmarks, educational workshops, meetings for plan participants, website information, and quarterly newsletters outlining the selection of funds and performance available for plan participants. Fees for this service are as follows:

1% of the first $1.5 million

.65% for the next $3.5 million

.5% thereafter

Fees for very large portfolios are negotiable

The term of the contract is initially 12 months; however, it may be terminated by either party within 30 days’ notice. Annual reviews and other consultations are provided without charge.

RETIREMENT PLAN PARTICIPANT CONSULTATION: This service is intended for individuals who are not participants in 401(k) plans that we manage, yet who may want ongoing assistance in the selection of investment options made available by their employer. Registrant will review a participant's retirement plan options and provide a report advising client on the appropriate allocation and weighting to selected fund. Service may either be on a one-time basis or ongoing. Fees are .25% of assets, minimum $500.

Clients who invest in mutual funds (including money market funds) should be aware that they are paying a management fee both to the investment manager and to the manager of the mutual fund.

ANALYTICAL SERVICES: Trustees, fiduciaries, and individuals may want an independent evaluation of an existing portfolio. The portfolio evaluation report can be contracted for separately and is billed at an hourly rate of $200. In this case, no ongoing investment management relationship is anticipated. Fees are payable at the time of delivery of the report.

FINANCIAL PLANNING FEES: Professional fees vary according to the time involved and services provided. All services require a written contract, which describes the scope and cost of (continued) the services. Fees are payable after services are performed. Fees for financial plans include a portfolio analysis report. The cost of developing a financial plan depends upon the complexity of a client's affairs. Financial planning fees are based on the hourly rate of $150.