Since we typically charge asset-based fees, the more assets we manage, the more you will pay in fees. We therefore have an incentive to encourage you to increase the assets you entrust us to manage. Investment management fees are negotiable. In certain circumstances, we charge a flat or fixed fee, discount fees or waive fees. Fees will be automatically deducted from your account, which will reduce the value of your account.

Additional Fees and Costs will apply. The most typical fees you should expect to pay include:

Mutual Fund Fees and Expenses. Investments in mutual funds generally include an embedded expense ratio composed of an investment management fee and/or carried interest paid to the investment adviser of the mutual fund.
Brokerage and Custodial Fees. Brokerage and custodial fees typically vary depending on the qualified custodian where the account is custodied. Certain qualified custodians have specific fees when trading with an affiliated broker-dealer and different brokerage fees charged by a non-affiliated broker-dealer. We do not receive any portion of these fees. You are responsible for paying for the brokerage and custodial costs for your accounts. Our trading desks take into consideration any applicable terms, fees and commission schedule imposed by the qualified custodian for each client account and execute trades consistent with our duty to seek best execution.
External Separate Account Manager Fees. For certain qualified clients, when it is appropriate and cost-effective for the client, we engage third-party investment managers to manage a portion or all of the client’s assets. If we engage an external third-party manager, you are responsible for paying all fees charged by the third-party manager on those assets.

You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying.

Additional information about our fees is located in Item 5 of our Form ADV Part 2A, which is available online at: https://adviserinfo.sec.gov/firm/summary/156984

Stephen I. Lee

RWA WEALTH PARTNERS

Wealth Advisor

Costa Mesa, CA 92626

Stephen In Hee Lee