We do not charge an asset-based advisory fee for any funds invested through our automated investment service. However, we do automatically charge an account administration fee of $1 to every client with an active account as of the final day of each month. This “Administrative Fee” is charged on a monthly basis in arrears. Therefore, the overall fees you incur on your investment account will depend on how long your account remains active. Also, the minimum amount needed to open an investment account is $0. So, the lower the amount of assets you hold in your investment account, the more the $1 Administrative Fee will reduce your return on investment on a percentage basis. However, your fees will not increase when you invest more funds. You will also be subject to a fee of $0.25 per ACH withdrawal, which is charged by our custodian.
In addition to the account level expenses described above, the ETFs in which you invest include embedded expenses that will reduce the ETF’s net asset value. These embedded expenses will reduce the ETF’s performance and will, therefore, reduce the overall performance of your portfolio. Such fees and expenses may include management fees, custodian fees, brokerage commissions, and legal and accounting fees. MoneyLion does not benefit directly or indirectly from any such fees.
Please refer to our Form ADV for more information about the direct and indirect fees associated with our services.