News / Advice: Frequently Asked Questions Q: Does Bills Asset Management have custody of my assets? A: No. Each client has an account, typically at Fidelity Investments or TD Waterhouse. Bills Asset Management is listed as the investment advisor on the account and we are only authorized to make trades in the account, deduct fees, and receive duplicate confirmations. Q: Can I have more than one account? A: Yes. Many clients have an individual account, a joint account with their spouse, and an IRA. We can also set up custodial accounts for children, college education funds, employer plans that need to be rolled over to an IRA, profit sharing plan and trust accounts. Q: How is Bills Asset Management compensated? A: Our clients pay us a quarterly fee based on the total value of their account(s). Since we deal exclusively with no-load mutual funds there are never any commissions to buy or sell. We are not paid for our ability to sell; we’re paid to perform. Q: Are fees paid directly from the account? A: Most clients prefer to have the fee automatically deducted from the account each quarter, but some choose to pay with a separate check. Q: Is my money liquid? A: Absolutely. While any equity based investment should be considered long term in nature, you can withdraw any or all of your money at any time, with no surrender charges or other transaction costs. Q: How do I get started? A: We will help you complete the paperwork to establish an account. You will also execute a letter of agreement with Bills Asset Management indicating your desire to retain us to manage your assets. You can open the account with a check payable to the brokerage firm, or by transferring assets directly from other brokerage or bank accounts.