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Management fees are calculated based on a percentage of the assets managed as outlined below. Custodial charges are included with our fees. Consistent with other Portfolio Manager and Mutual Funds, minimal commissions are charged by the custodian on equity trades of which KOWIM receives no part. There are no additional charges on bond trades. Fees are often tax deductible.

The Portfolio Manager, by virtue of a signed agreement with clients, is authorized to trade in clients' accounts. Either party may cancel the agreement at any time.

KOWIM uses an independent custodian for administering the accounts which are in clients' names. Currently National Bank Financial (NBCN) acts as our custodian. Among the custodian's administrative duties are sending out monthly statements to clients and the Manager, and collecting interest and dividends earned on investments. In addition, the custodian controls withdrawals from the account, ensuring they are either authorized by the client or in payment of the agreed-upon portfolio management fees.

An independent Portfolio Manager is not restricted to one source for buying securities for clients. The Manager must not have vested interests in any securities purchased for a client or the company selling them. This ensures the client is protected and that the Portfolio Manager is working solely in the client's best interests.