Edit a Fund Fee Type

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Written by Nick Miles

Last published at: June 7th, 2019

To Edit a Fund Fee Type:

  1. Go to Admin Fees from the Home page.
  2. Select Fund Fee Types from the left-side menu.
  3. Click the ID of the Fund Fee Type you want to Edit.
  4. Select Edit from the left-side menu.
  5. The default fields available for editing are: 
    • Name
    • Fee Type - The Fee Type you select will determine the remaining fields. 
      • Note: 
        • When editing the Fee Type, click Update after selecting a new Fee Type, then select Edit from the left-side menu and new options will display in the Fund Fee Type window.
        • If you want to create an admin fee that does not charge a fee, use the Flat Rate fee type, enter the Flat Amount as 0.00, and name the fee type "No Fee".
      • The available Fee Types are:
        • Flat Fee:
          • Select when to apply the fee from the Apply Fee drop-down list.
          • Enter the Flat Amount.
          • Enter a Minimum Yearly Fee.
        • Percent:
          • Enter a Flat Percent.
          • Check the box next to use Average Daily Balance, or enter the number of trailing quarters that you want to average next to Use Average Trailing Quarters Balance. 
            • Note: You cannot use Average Daily Balance and Average Trailing Quarters Balance on the same Fund Fee Type. You must select one or the other.
          • Enter a Minimum Yearly Fee.
        • Percent Range:
          • Check the box next to Fee Ladder if you want to calculate your admin fees using a fee ladder.
            • The Fee Ladder will charge different percentages as the balance passes each tier. The ranges can be added in the Fee Percent Ranges table below the Fund Fee Type section.
              • Example:
                Min Balance
                Fee Percentage
                $0
                10%
                $100,000
                5%
                • Without Fee Ladder selected, the admin fee would charge 5% on a fund with a balance of $150,000 and 10% on a fund with a balance of $50,000.
                • With Fee Ladder selected, the admin fee would charge a fund with a balance of $150,000 10% on the first $100,000 and 5% on the $50,000 above $100,000.
          • Check the box next to use Average Daily Balance, or enter the number of trailing quarters that you want to average next to Use Average Trailing Quarters Balance
            • Note: You cannot use Average Daily Balance and Average Trailing Quarters Balance on the same Fund Fee Type- you must select one or the other.
          • Enter a Minimum Yearly Fee.
  6. Apply or remove the Fund Fee Type from a Fund by checking or unchecking the box to the left of the Fund name. 
  7. Click Update.