You will pay Springwater an advisory fee for the management of your accounts (please see the Fees page on our website for more details), and you will pay transaction fees to the custodians holding your accounts when trades are placed.
Springwater builds portfolios using low-cost, no-load mutual funds and exchange-traded funds. These funds contain internal administrative expenses (called “expense ratios”) charged by the managers of the funds. Our portfolios typically contain 10-25 individual funds and the weighted average expense ratio is less than 0.30%.
When Springwater purchases or sells funds in your accounts, the custodian (typically Fidelity or TD Ameritrade) will charge a commission for each transaction. Individual transaction fees typically range between $0 and $40, depending on the custodian’s fee schedule.
When we rebalance your portfolio, we will buy and sell individual funds. This will result in trading commissions. We typically rebalance annually, or more frequently, if appropriate.