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Due to essential start-up and rebalancing fees, the minimum amount to invest in a Holland Portfolio is $35,000. Given the broadly-allocated construction of portfolios, this amount is a "threshold" below which the Advisor feels it would not make economic sense to participate in the program.
Once your threshold investment amount is met, additional funds in any amount can be sent directly to your Fidelity Investments account. But note: sums less than $35,000 will not be invested in your Holland Portfolio until the next rebalancing period. (This is to avoid the rebalancing fee on amounts smaller than $35,000.)
When you open an account, you have the option to receive checks from Fidelity or write your own checks against the cash amount in your account. If you wish greater amounts, contact the Advisor to liquidate some of your holdings to create more cash in your account.
Simply click here or on the blue "Investor Login" button on this page to arrive at Fidelity.com and login to see your account.
The Advisor, Jeffrey Jacob Holland, charges a flat fee of .625% of assets under management, annually, payable monthly in arrears (.625/12). If the account is closed mid month, no fees will be paid for that month.
JJH fees are separate from any fees charged by the asset classes in your portfolio. See next question.
No, these are custodial fees charged by Fidelity Investments.
The fees are approximately $40 for each mutual fund purchase, and $20
for each exchange traded fund (ETF) purchase. The total startup and
rebalancing fee is approximately $350.
For accounts less than $1.0 million, rebalancing is annual, around the first business day of each calendar year. For accounts with balances greater than $1.0 million, rebalancing is quarterly, near the first business day of each new quarter (1/01, 4/01, 7/01, 10/01).
The rebalancing fees are too high in relation to the account size to make it economically beneficial. Note: returns of accounts greater than and less than $1.0 million should nonetheless be very similar over time.
Fidelity Investments is the sole custodian; each investor receives statements directly from Fidelity. The Advisor's role is to compose the portfolios. He never has access to investor funds.
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