At the end of each month, we take a balance snapshot and charges fees based on the sum of assets held at Farther pro-rated for the monthly billing schedule and for time where assets were held in a Farther account.
For instance, if you opened an account without an advisor on June 15, we would take a snapshot of your account balance on June 30, multiply by your fee of 0.4%, divide by 12 for the monthly collection cycle, and pro-rate for the 15 days out of the month where you had assets in your account.