Tiered Pricing

ah sorry... bps equals basis points. 50bps=0.5%. Sorry for the vernacular.

So:

$1.5mm account
>>>if an account is worth less than $1mm than they get charged 0.13%
>>>if an account is worth $1.5mm they are charged as follows:

the first $1 million is charged 0.13% and the next $500,000 is charged 0.11%. The total cost on this account would be

$1,000,000*0.13%=$1,300
$500,000*0.11%=$550

Total blended fee would be ($1,300+$550)/$1,500,000=0.123%

Sorry to be so complicated...