Gusto individual retirement account (IRA) savers can use this article to understand how your annual asset under management (AUM) fee works, how it is calculated each month, and where to find fee transactions in your IRA account.
Gusto Investment Services, LLC, charges an annual asset under management (AUM) fee for all Gusto IRAs.¹ This fee is calculated and deducted monthly. You can see the fees that apply to your account in your Account Agreement.
Understand how the fee is calculated
Your annual AUM fee is broken into monthly charges based on your balance on the last day of each calendar month. Here’s the formula:
(month-end balance × account fee) / 12 = monthly account fee
For example, if you have a balance of $10,000 in your IRA with a fee of 0.08%, your account fee for the month would be about $0.67. The formula in this scenario is (10,000 × 0.0008) / 12 = 0.67.²
Find your monthly fee(s)
To see a breakdown of your account fee(s), login to your Gusto IRA and navigate to the Billing section of the Settings tab.
Your fee(s) can also be viewed in your Account Agreement found in the Resource Library.
Find your monthly fee transactions
You can view your fee transactions from your Gusto Retirement dashboard in two ways.
View all accounts
To see a combined view of all account transactions, scroll down to the Recent transactions section on the Home page, then select View all to see the full history for all your Gusto accounts.
View a specific account
To see fee transactions for a specific IRA, follow these steps:
Select Accounts in the main menu.
Select the account you’d like to view.
Scroll down to the Recent transactions section.
Select View all to see the full history for that account.
AUM fees are labeled as Account fee and listed by the date they were processed.
¹ The annual AUM fee applies to all Gusto IRAs, including Roth, Traditional, Rollover, and SEP IRAs. See your Account Agreement to view your specific account fees.
² This information is for illustrative purposes only and does not represent the actual costs you may incur as a Gusto client. Information shown here assumes a static balance of $10,000 per month, an annual AUM fee of 0.08% on assets under management (calculated and deducted on a monthly basis at 1/12 of the annual stated rate (0.08%)) based on the month-end account balance. This example uses an IRA fee and does not account for common factors that affect the value of your account balance over time, such as gains, losses, distributions, additional contributions, etc., and is not intended to constitute investment advice nor an assurance or guarantee of future performance. The fee presented does not include other fees that IRA users may incur, including but not limited to mutual fund expense ratios, $0 - $4 monthly base fee (based on your Account Agreement) for personal IRA. See the Form ADV 2A Brochure for additional information regarding our fees.