id	sid	tid	token	lemma	pos
fsr-3458	1	1	enumerating	enumerate	VERB
fsr-3458	1	2	the	the	DET
fsr-3458	1	3	value	value	NOUN
fsr-3458	1	4	of	of	ADP
fsr-3458	1	5	financial	financial	ADJ
fsr-3458	1	6	advice	advice	NOUN
fsr-3458	1	7	in	in	ADP
fsr-3458	1	8	a	a	DET
fsr-3458	1	9	competitive	competitive	ADJ
fsr-3458	1	10	market	market	NOUN
fsr-3458	1	11	–	–	PUNCT
fsr-3458	1	12	a	a	DET
fsr-3458	1	13	dual	dual	ADJ
fsr-3458	1	14	structure	structure	NOUN
fsr-3458	1	15	approach	approach	NOUN
fsr-3458	1	16	and	and	CCONJ
fsr-3458	1	17	analysis†	analysis†	ADJ
fsr-3458	1	18	steve	steve	PROPN
fsr-3458	1	19	p.	p.	PROPN
fsr-3458	1	20	frasera	frasera	NOUN
fsr-3458	1	21	,	,	PUNCT
fsr-3458	1	22	*	*	AUX
fsr-3458	1	23	,	,	PUNCT
fsr-3458	1	24	brian	brian	PROPN
fsr-3458	1	25	c.	c.	PROPN
fsr-3458	1	26	payneb	payneb	PROPN
fsr-3458	1	27	,	,	PUNCT
fsr-3458	1	28	scott	scott	PROPN
fsr-3458	1	29	schatzlec	schatzlec	PROPN
fsr-3458	1	30	alutgert	alutgert	PROPN
fsr-3458	1	31	college	college	PROPN
fsr-3458	1	32	of	of	ADP
fsr-3458	1	33	business	business	NOUN
fsr-3458	1	34	,	,	PUNCT
fsr-3458	1	35	florida	florida	PROPN
fsr-3458	1	36	gulf	gulf	PROPN
fsr-3458	1	37	coast	coast	PROPN
fsr-3458	1	38	university	university	PROPN
fsr-3458	1	39	,	,	PUNCT
fsr-3458	1	40	10501	10501	NUM
fsr-3458	1	41	fgcu	fgcu	PROPN
fsr-3458	1	42	boulevard	boulevard	PROPN
fsr-3458	1	43	south	south	PROPN
fsr-3458	1	44	,	,	PUNCT
fsr-3458	1	45	fort	fort	NOUN
fsr-3458	1	46	myers	myers	PROPN
fsr-3458	1	47	,	,	PUNCT
fsr-3458	1	48	fl	fl	PROPN
fsr-3458	1	49	33965	33965	NUM
fsr-3458	1	50	,	,	PUNCT
fsr-3458	1	51	usa	usa	PROPN
fsr-3458	1	52	bcollege	bcollege	PROPN
fsr-3458	1	53	of	of	ADP
fsr-3458	1	54	business	business	PROPN
fsr-3458	1	55	administration	administration	PROPN
fsr-3458	1	56	,	,	PUNCT
fsr-3458	1	57	university	university	PROPN
fsr-3458	1	58	of	of	ADP
fsr-3458	1	59	nebraska	nebraska	PROPN
fsr-3458	1	60	at	at	ADP
fsr-3458	1	61	omaha	omaha	PROPN
fsr-3458	1	62	,	,	PUNCT
fsr-3458	1	63	6708	6708	NUM
fsr-3458	1	64	pine	pine	PROPN
fsr-3458	1	65	street	street	NOUN
fsr-3458	1	66	,	,	PUNCT
fsr-3458	1	67	mammel	mammel	PROPN
fsr-3458	1	68	hall	hall	PROPN
fsr-3458	1	69	228	228	NUM
fsr-3458	1	70	g	g	NOUN
fsr-3458	1	71	,	,	PUNCT
fsr-3458	1	72	omaha	omaha	PROPN
fsr-3458	1	73	,	,	PUNCT
fsr-3458	1	74	ne	ne	PROPN
fsr-3458	1	75	68182	68182	NUM
fsr-3458	1	76	,	,	PUNCT
fsr-3458	1	77	usa	usa	PROPN
fsr-3458	1	78	cmutual	cmutual	PROPN
fsr-3458	1	79	trust	trust	PROPN
fsr-3458	1	80	advisory	advisory	NOUN
fsr-3458	1	81	group	group	NOUN
fsr-3458	1	82	,	,	PUNCT
fsr-3458	1	83	23190	23190	NUM
fsr-3458	1	84	fashion	fashion	NOUN
fsr-3458	1	85	drive	drive	NOUN
fsr-3458	1	86	p203	p203	PROPN
fsr-3458	1	87	,	,	PUNCT
fsr-3458	1	88	estero	estero	PROPN
fsr-3458	1	89	,	,	PUNCT
fsr-3458	1	90	fl	fl	PROPN
fsr-3458	1	91	333928	333928	NUM
fsr-3458	1	92	,	,	PUNCT
fsr-3458	1	93	usa	usa	PROPN
fsr-3458	1	94	abstract	abstract	ADJ
fsr-3458	1	95	this	this	DET
fsr-3458	1	96	paper	paper	NOUN
fsr-3458	1	97	introduces	introduce	NOUN
fsr-3458	1	98	and	and	CCONJ
fsr-3458	1	99	examines	examine	VERB
fsr-3458	1	100	a	a	DET
fsr-3458	1	101	composite	composite	ADJ
fsr-3458	1	102	,	,	PUNCT
fsr-3458	1	103	dual	dual	ADJ
fsr-3458	1	104	fee	fee	NOUN
fsr-3458	1	105	structure	structure	NOUN
fsr-3458	1	106	(	(	PUNCT
fsr-3458	1	107	cdfs	cdfs	PROPN
fsr-3458	1	108	)	)	PUNCT
fsr-3458	1	109	for	for	ADP
fsr-3458	1	110	financial	financial	ADJ
fsr-3458	1	111	planners	planner	NOUN
fsr-3458	1	112	that	that	PRON
fsr-3458	1	113	helps	helps	AUX
fsr-3458	1	114	quantify	quantify	VERB
fsr-3458	1	115	the	the	DET
fsr-3458	1	116	value	value	NOUN
fsr-3458	1	117	of	of	ADP
fsr-3458	1	118	financial	financial	ADJ
fsr-3458	1	119	advice	advice	NOUN
fsr-3458	1	120	.	.	PUNCT
fsr-3458	2	1	our	our	PRON
fsr-3458	2	2	structure	structure	NOUN
fsr-3458	2	3	specifically	specifically	ADV
fsr-3458	2	4	separates	separate	VERB
fsr-3458	2	5	financial	financial	ADJ
fsr-3458	2	6	planning	planning	NOUN
fsr-3458	2	7	(	(	PUNCT
fsr-3458	2	8	advice	advice	NOUN
fsr-3458	2	9	)	)	PUNCT
fsr-3458	2	10	fees	fee	NOUN
fsr-3458	2	11	based	base	VERB
fsr-3458	2	12	on	on	ADP
fsr-3458	2	13	total	total	ADJ
fsr-3458	2	14	net	net	ADJ
fsr-3458	2	15	worth	worth	NOUN
fsr-3458	2	16	(	(	PUNCT
fsr-3458	2	17	nw	nw	INTJ
fsr-3458	2	18	)	)	PUNCT
fsr-3458	2	19	from	from	ADP
fsr-3458	2	20	investment	investment	NOUN
fsr-3458	2	21	management	management	NOUN
fsr-3458	2	22	(	(	PUNCT
fsr-3458	2	23	i	i	NOUN
fsr-3458	2	24	m	m	NOUN
fsr-3458	2	25	)	)	PUNCT
fsr-3458	2	26	fees	fee	NOUN
fsr-3458	2	27	based	base	VERB
fsr-3458	2	28	on	on	ADP
fsr-3458	2	29	assets	asset	NOUN
fsr-3458	2	30	under	under	ADP
fsr-3458	2	31	management	management	NOUN
fsr-3458	2	32	(	(	PUNCT
fsr-3458	2	33	aum	aum	NOUN
fsr-3458	2	34	)	)	PUNCT
fsr-3458	2	35	,	,	PUNCT
fsr-3458	2	36	which	which	PRON
fsr-3458	2	37	are	be	AUX
fsr-3458	2	38	readily	readily	ADV
fsr-3458	2	39	observable	observable	ADJ
fsr-3458	2	40	and	and	CCONJ
fsr-3458	2	41	pervasive	pervasive	ADJ
fsr-3458	2	42	in	in	ADP
fsr-3458	2	43	the	the	DET
fsr-3458	2	44	marketplace	marketplace	NOUN
fsr-3458	2	45	.	.	PUNCT
fsr-3458	3	1	doing	do	VERB
fsr-3458	3	2	so	so	ADV
fsr-3458	3	3	facilitates	facilitate	VERB
fsr-3458	3	4	quantifying	quantify	VERB
fsr-3458	3	5	the	the	DET
fsr-3458	3	6	value	value	NOUN
fsr-3458	3	7	of	of	ADP
fsr-3458	3	8	this	this	DET
fsr-3458	3	9	financial	financial	ADJ
fsr-3458	3	10	advice	advice	NOUN
fsr-3458	3	11	in	in	ADP
fsr-3458	3	12	a	a	DET
fsr-3458	3	13	competitive	competitive	ADJ
fsr-3458	3	14	market	market	NOUN
fsr-3458	3	15	setting	setting	NOUN
fsr-3458	3	16	.	.	PUNCT
fsr-3458	4	1	knowing	know	VERB
fsr-3458	4	2	the	the	DET
fsr-3458	4	3	financial	financial	ADJ
fsr-3458	4	4	value	value	NOUN
fsr-3458	4	5	of	of	ADP
fsr-3458	4	6	the	the	DET
fsr-3458	4	7	non	non	ADJ
fsr-3458	4	8	-	-	ADJ
fsr-3458	4	9	im	im	ADJ
fsr-3458	4	10	component	component	NOUN
fsr-3458	4	11	of	of	ADP
fsr-3458	4	12	financial	financial	ADJ
fsr-3458	4	13	planning	planning	NOUN
fsr-3458	4	14	services	service	NOUN
fsr-3458	4	15	can	can	AUX
fsr-3458	4	16	reduce	reduce	VERB
fsr-3458	4	17	perceived	perceive	VERB
fsr-3458	4	18	conflicts	conflict	NOUN
fsr-3458	4	19	of	of	ADP
fsr-3458	4	20	interest	interest	NOUN
fsr-3458	4	21	by	by	ADP
fsr-3458	4	22	permitting	permit	VERB
fsr-3458	4	23	financial	financial	ADJ
fsr-3458	4	24	planners	planner	NOUN
fsr-3458	4	25	to	to	PART
fsr-3458	4	26	generate	generate	VERB
fsr-3458	4	27	compensation	compensation	NOUN
fsr-3458	4	28	for	for	ADP
fsr-3458	4	29	non	non	ADJ
fsr-3458	4	30	-	-	ADJ
fsr-3458	4	31	im	im	ADJ
fsr-3458	4	32	planning	planning	NOUN
fsr-3458	4	33	activities	activity	NOUN
fsr-3458	4	34	in	in	ADP
fsr-3458	4	35	a	a	DET
fsr-3458	4	36	transparent	transparent	ADJ
fsr-3458	4	37	manner	manner	NOUN
fsr-3458	4	38	,	,	PUNCT
fsr-3458	4	39	whether	whether	SCONJ
fsr-3458	4	40	or	or	CCONJ
fsr-3458	4	41	not	not	PART
fsr-3458	4	42	the	the	DET
fsr-3458	4	43	client	client	NOUN
fsr-3458	4	44	moves	move	VERB
fsr-3458	4	45	investable	investable	ADJ
fsr-3458	4	46	funds	fund	NOUN
fsr-3458	4	47	to	to	ADP
fsr-3458	4	48	the	the	DET
fsr-3458	4	49	planner	planner	NOUN
fsr-3458	4	50	.	.	PUNCT
fsr-3458	5	1	©	©	PROPN
fsr-3458	5	2	2021	2021	NUM
fsr-3458	5	3	academy	academy	NOUN
fsr-3458	5	4	of	of	ADP
fsr-3458	5	5	financial	financial	ADJ
fsr-3458	5	6	services	service	NOUN
fsr-3458	5	7	.	.	PUNCT
fsr-3458	6	1	all	all	DET
fsr-3458	6	2	rights	right	NOUN
fsr-3458	6	3	reserved	reserve	VERB
fsr-3458	6	4	.	.	PUNCT
fsr-3458	7	1	jel	jel	PROPN
fsr-3458	7	2	classification	classification	PROPN
fsr-3458	7	3	:	:	PUNCT
fsr-3458	7	4	g29	g29	NOUN
fsr-3458	7	5	keywords	keyword	NOUN
fsr-3458	7	6	:	:	PUNCT
fsr-3458	7	7	financial	financial	ADJ
fsr-3458	7	8	planning	planning	NOUN
fsr-3458	7	9	;	;	PUNCT
fsr-3458	7	10	advisory	advisory	ADJ
fsr-3458	7	11	fees	fee	NOUN
fsr-3458	7	12	1	1	NUM
fsr-3458	7	13	.	.	PUNCT
fsr-3458	7	14	introduction	introduction	NOUN
fsr-3458	7	15	the	the	DET
fsr-3458	7	16	financial	financial	ADJ
fsr-3458	7	17	services	service	NOUN
fsr-3458	7	18	industry	industry	NOUN
fsr-3458	7	19	continues	continue	VERB
fsr-3458	7	20	to	to	PART
fsr-3458	7	21	be	be	AUX
fsr-3458	7	22	the	the	DET
fsr-3458	7	23	nexus	nexus	NOUN
fsr-3458	7	24	of	of	ADP
fsr-3458	7	25	ongoing	ongoing	ADJ
fsr-3458	7	26	discussions	discussion	NOUN
fsr-3458	7	27	among	among	ADP
fsr-3458	7	28	federal	federal	ADJ
fsr-3458	7	29	and	and	CCONJ
fsr-3458	7	30	state	state	NOUN
fsr-3458	7	31	regulators	regulator	NOUN
fsr-3458	7	32	,	,	PUNCT
fsr-3458	7	33	credentialing	credentiale	VERB
fsr-3458	7	34	entities	entity	NOUN
fsr-3458	7	35	,	,	PUNCT
fsr-3458	7	36	and	and	CCONJ
fsr-3458	7	37	financial	financial	ADJ
fsr-3458	7	38	institutions	institution	NOUN
fsr-3458	7	39	,	,	PUNCT
fsr-3458	7	40	concerning	concern	VERB
fsr-3458	7	41	*	*	PUNCT
fsr-3458	7	42	corresponding	correspond	VERB
fsr-3458	7	43	author	author	NOUN
fsr-3458	7	44	.	.	PUNCT
fsr-3458	8	1	tel	tel	PROPN
fsr-3458	8	2	.	.	PUNCT
fsr-3458	8	3	:	:	PUNCT
fsr-3458	9	1	+1	+1	PROPN
fsr-3458	9	2	-	-	PUNCT
fsr-3458	9	3	239	239	NUM
fsr-3458	9	4	-	-	PUNCT
fsr-3458	9	5	590	590	NUM
fsr-3458	9	6	-	-	PUNCT
fsr-3458	9	7	7336	7336	NUM
fsr-3458	9	8	.	.	PUNCT
fsr-3458	10	1	†please	†please	PROPN
fsr-3458	10	2	do	do	AUX
fsr-3458	10	3	not	not	PART
fsr-3458	10	4	quote	quote	VERB
fsr-3458	10	5	or	or	CCONJ
fsr-3458	10	6	distribute	distribute	VERB
fsr-3458	10	7	.	.	PUNCT
fsr-3458	11	1	e	e	X
fsr-3458	11	2	-	-	NOUN
fsr-3458	11	3	mail	mail	NOUN
fsr-3458	11	4	address	address	NOUN
fsr-3458	11	5	:	:	PUNCT
fsr-3458	11	6	sfraser@fgcu.edu	sfraser@fgcu.edu	NUM
fsr-3458	11	7	1057	1057	NUM
fsr-3458	11	8	-	-	SYM
fsr-3458	11	9	0810/21/$	0810/21/$	NUM
fsr-3458	11	10	–	–	PUNCT
fsr-3458	11	11	see	see	VERB
fsr-3458	11	12	front	front	ADJ
fsr-3458	11	13	matter	matter	NOUN
fsr-3458	11	14	©	©	PROPN
fsr-3458	11	15	2021	2021	NUM
fsr-3458	11	16	academy	academy	NOUN
fsr-3458	11	17	of	of	ADP
fsr-3458	11	18	financial	financial	ADJ
fsr-3458	11	19	services	service	NOUN
fsr-3458	11	20	.	.	PUNCT
fsr-3458	12	1	all	all	DET
fsr-3458	12	2	rights	right	NOUN
fsr-3458	12	3	reserved	reserve	VERB
fsr-3458	12	4	.	.	PUNCT
fsr-3458	13	1	financial	financial	ADJ
fsr-3458	13	2	services	service	NOUN
fsr-3458	13	3	review	review	VERB
fsr-3458	13	4	29	29	NUM
fsr-3458	13	5	(	(	PUNCT
fsr-3458	13	6	2021	2021	NUM
fsr-3458	13	7	)	)	PUNCT
fsr-3458	14	1	227–245	227–245	NUM
fsr-3458	14	2	what	what	PRON
fsr-3458	14	3	constitutes	constitute	VERB
fsr-3458	14	4	the	the	DET
fsr-3458	14	5	fiduciary	fiduciary	ADJ
fsr-3458	14	6	relationship	relationship	NOUN
fsr-3458	14	7	between	between	ADP
fsr-3458	14	8	providers	provider	NOUN
fsr-3458	14	9	and	and	CCONJ
fsr-3458	14	10	clients	client	NOUN
fsr-3458	14	11	.	.	PUNCT
fsr-3458	15	1	underlying	underlie	VERB
fsr-3458	15	2	this	this	DET
fsr-3458	15	3	dialogue	dialogue	NOUN
fsr-3458	15	4	is	be	AUX
fsr-3458	15	5	the	the	DET
fsr-3458	15	6	nature	nature	NOUN
fsr-3458	15	7	of	of	ADP
fsr-3458	15	8	the	the	DET
fsr-3458	15	9	compensation	compensation	NOUN
fsr-3458	15	10	paid	pay	VERB
fsr-3458	15	11	to	to	ADP
fsr-3458	15	12	the	the	DET
fsr-3458	15	13	agent	agent	NOUN
fsr-3458	15	14	by	by	ADP
fsr-3458	15	15	the	the	DET
fsr-3458	15	16	client	client	NOUN
fsr-3458	15	17	—	—	PUNCT
fsr-3458	15	18	commission	commission	NOUN
fsr-3458	15	19	,	,	PUNCT
fsr-3458	15	20	flat	flat	ADJ
fsr-3458	15	21	fee	fee	NOUN
fsr-3458	15	22	,	,	PUNCT
fsr-3458	15	23	fee	fee	NOUN
fsr-3458	15	24	-	-	PUNCT
fsr-3458	15	25	only	only	ADV
fsr-3458	15	26	,	,	PUNCT
fsr-3458	15	27	fee	fee	NOUN
fsr-3458	15	28	-	-	PUNCT
fsr-3458	15	29	based	base	VERB
fsr-3458	15	30	,	,	PUNCT
fsr-3458	15	31	or	or	CCONJ
fsr-3458	15	32	some	some	DET
fsr-3458	15	33	combination	combination	NOUN
fsr-3458	15	34	of	of	ADP
fsr-3458	15	35	approaches	approach	NOUN
fsr-3458	15	36	(	(	PUNCT
fsr-3458	15	37	opiela	opiela	ADP
fsr-3458	15	38	2006	2006	NUM
fsr-3458	15	39	and	and	CCONJ
fsr-3458	15	40	mackillop	mackillop	VERB
fsr-3458	15	41	2017	2017	NUM
fsr-3458	15	42	)	)	PUNCT
fsr-3458	15	43	.	.	PUNCT
fsr-3458	16	1	the	the	DET
fsr-3458	16	2	predominant	predominant	ADJ
fsr-3458	16	3	methodology	methodology	NOUN
fsr-3458	16	4	for	for	ADP
fsr-3458	16	5	many	many	ADJ
fsr-3458	16	6	registered	register	VERB
fsr-3458	16	7	investment	investment	NOUN
fsr-3458	16	8	advisors	advisor	NOUN
fsr-3458	16	9	(	(	PUNCT
fsr-3458	16	10	rias	rias	PROPN
fsr-3458	16	11	)	)	PUNCT
fsr-3458	16	12	is	be	AUX
fsr-3458	16	13	fee	fee	NOUN
fsr-3458	16	14	-	-	PUNCT
fsr-3458	16	15	only	only	ADV
fsr-3458	16	16	,	,	PUNCT
fsr-3458	16	17	where	where	SCONJ
fsr-3458	16	18	agents	agent	NOUN
fsr-3458	16	19	charge	charge	VERB
fsr-3458	16	20	a	a	DET
fsr-3458	16	21	percentage	percentage	NOUN
fsr-3458	16	22	on	on	ADP
fsr-3458	16	23	the	the	DET
fsr-3458	16	24	level	level	NOUN
fsr-3458	16	25	of	of	ADP
fsr-3458	16	26	clients	client	NOUN
fsr-3458	16	27	’	'	PUNCT
fsr-3458	16	28	assets	asset	NOUN
fsr-3458	16	29	under	under	ADP
fsr-3458	16	30	management	management	NOUN
fsr-3458	16	31	(	(	PUNCT
fsr-3458	16	32	aum	aum	NOUN
fsr-3458	16	33	)	)	PUNCT
fsr-3458	16	34	.	.	PUNCT
fsr-3458	17	1	many	many	ADJ
fsr-3458	17	2	of	of	ADP
fsr-3458	17	3	these	these	DET
fsr-3458	17	4	rias	ria	NOUN
fsr-3458	17	5	focus	focus	VERB
fsr-3458	17	6	primarily	primarily	ADV
fsr-3458	17	7	on	on	ADP
fsr-3458	17	8	the	the	DET
fsr-3458	17	9	function	function	NOUN
fsr-3458	17	10	of	of	ADP
fsr-3458	17	11	investment	investment	NOUN
fsr-3458	17	12	management	management	NOUN
fsr-3458	17	13	(	(	PUNCT
fsr-3458	17	14	i	i	NOUN
fsr-3458	17	15	m	m	PROPN
fsr-3458	17	16	)	)	PUNCT
fsr-3458	17	17	,	,	PUNCT
fsr-3458	17	18	in	in	ADP
fsr-3458	17	19	which	which	DET
fsr-3458	17	20	case	case	NOUN
fsr-3458	17	21	fees	fee	NOUN
fsr-3458	17	22	are	be	AUX
fsr-3458	17	23	more	more	ADV
fsr-3458	17	24	directly	directly	ADV
fsr-3458	17	25	correlated	correlate	VERB
fsr-3458	17	26	with	with	ADP
fsr-3458	17	27	aum	aum	PROPN
fsr-3458	17	28	,	,	PUNCT
fsr-3458	17	29	but	but	CCONJ
fsr-3458	17	30	also	also	ADV
fsr-3458	17	31	include	include	VERB
fsr-3458	17	32	planning	plan	VERB
fsr-3458	17	33	services	service	NOUN
fsr-3458	17	34	for	for	ADP
fsr-3458	17	35	the	the	DET
fsr-3458	17	36	broader	broad	ADJ
fsr-3458	17	37	portfolio	portfolio	NOUN
fsr-3458	17	38	.	.	PUNCT
fsr-3458	18	1	this	this	PRON
fsr-3458	18	2	is	be	AUX
fsr-3458	18	3	an	an	DET
fsr-3458	18	4	oft	oft	ADV
fsr-3458	18	5	used	use	VERB
fsr-3458	18	6	argument	argument	NOUN
fsr-3458	18	7	suggesting	suggest	VERB
fsr-3458	18	8	the	the	DET
fsr-3458	18	9	interests	interest	NOUN
fsr-3458	18	10	of	of	ADP
fsr-3458	18	11	rias	rias	PROPN
fsr-3458	18	12	are	be	AUX
fsr-3458	18	13	aligned	align	VERB
fsr-3458	18	14	with	with	ADP
fsr-3458	18	15	their	their	PRON
fsr-3458	18	16	clients	client	NOUN
fsr-3458	18	17	’	'	PUNCT
fsr-3458	18	18	as	as	SCONJ
fsr-3458	18	19	both	both	DET
fsr-3458	18	20	parties	party	NOUN
fsr-3458	18	21	gain	gain	VERB
fsr-3458	18	22	or	or	CCONJ
fsr-3458	18	23	lose	lose	VERB
fsr-3458	18	24	value	value	NOUN
fsr-3458	18	25	together	together	ADV
fsr-3458	18	26	.	.	PUNCT
fsr-3458	19	1	this	this	DET
fsr-3458	19	2	model	model	NOUN
fsr-3458	19	3	is	be	AUX
fsr-3458	19	4	certainly	certainly	ADV
fsr-3458	19	5	not	not	PART
fsr-3458	19	6	absolute	absolute	ADJ
fsr-3458	19	7	,	,	PUNCT
fsr-3458	19	8	and	and	CCONJ
fsr-3458	19	9	a	a	DET
fsr-3458	19	10	common	common	ADJ
fsr-3458	19	11	example	example	NOUN
fsr-3458	19	12	of	of	ADP
fsr-3458	19	13	where	where	SCONJ
fsr-3458	19	14	this	this	DET
fsr-3458	19	15	model	model	NOUN
fsr-3458	19	16	may	may	AUX
fsr-3458	19	17	have	have	AUX
fsr-3458	19	18	a	a	DET
fsr-3458	19	19	potential	potential	ADJ
fsr-3458	19	20	conflict	conflict	NOUN
fsr-3458	19	21	is	be	AUX
fsr-3458	19	22	when	when	SCONJ
fsr-3458	19	23	a	a	DET
fsr-3458	19	24	planner	planner	NOUN
fsr-3458	19	25	might	might	AUX
fsr-3458	19	26	recommend	recommend	VERB
fsr-3458	19	27	a	a	DET
fsr-3458	19	28	client	client	NOUN
fsr-3458	19	29	use	use	NOUN
fsr-3458	19	30	aum	aum	PROPN
fsr-3458	19	31	to	to	PART
fsr-3458	19	32	pay	pay	VERB
fsr-3458	19	33	off	off	ADP
fsr-3458	19	34	a	a	DET
fsr-3458	19	35	mortgage	mortgage	NOUN
fsr-3458	19	36	.	.	PUNCT
fsr-3458	20	1	the	the	DET
fsr-3458	20	2	right	right	ADJ
fsr-3458	20	3	recommendation	recommendation	NOUN
fsr-3458	20	4	might	might	AUX
fsr-3458	20	5	be	be	AUX
fsr-3458	20	6	to	to	PART
fsr-3458	20	7	pay	pay	VERB
fsr-3458	20	8	off	off	ADP
fsr-3458	20	9	the	the	DET
fsr-3458	20	10	debt	debt	NOUN
fsr-3458	20	11	,	,	PUNCT
fsr-3458	20	12	yet	yet	ADV
fsr-3458	20	13	using	use	VERB
fsr-3458	20	14	aum	aum	PROPN
fsr-3458	20	15	to	to	PART
fsr-3458	20	16	do	do	VERB
fsr-3458	20	17	so	so	ADV
fsr-3458	20	18	will	will	AUX
fsr-3458	20	19	reduce	reduce	VERB
fsr-3458	20	20	advisor	advisor	NOUN
fsr-3458	20	21	compensation	compensation	NOUN
fsr-3458	20	22	in	in	ADP
fsr-3458	20	23	this	this	DET
fsr-3458	20	24	scenario	scenario	NOUN
fsr-3458	20	25	since	since	SCONJ
fsr-3458	20	26	the	the	DET
fsr-3458	20	27	aum	aum	PROPN
fsr-3458	20	28	declines	decline	VERB
fsr-3458	20	29	by	by	ADP
fsr-3458	20	30	the	the	DET
fsr-3458	20	31	amount	amount	NOUN
fsr-3458	20	32	of	of	ADP
fsr-3458	20	33	the	the	DET
fsr-3458	20	34	mortgage	mortgage	NOUN
fsr-3458	20	35	debt	debt	NOUN
fsr-3458	20	36	paid	pay	VERB
fsr-3458	20	37	off	off	ADP
fsr-3458	20	38	.	.	PUNCT
fsr-3458	21	1	in	in	ADP
fsr-3458	21	2	contrast	contrast	NOUN
fsr-3458	21	3	,	,	PUNCT
fsr-3458	21	4	many	many	ADJ
fsr-3458	21	5	agents	agent	NOUN
fsr-3458	21	6	working	work	VERB
fsr-3458	21	7	at	at	ADP
fsr-3458	21	8	broker	broker	NOUN
fsr-3458	21	9	-	-	PUNCT
fsr-3458	21	10	dealers	dealer	NOUN
fsr-3458	21	11	(	(	PUNCT
fsr-3458	21	12	bd	bd	PROPN
fsr-3458	21	13	)	)	PUNCT
fsr-3458	21	14	are	be	AUX
fsr-3458	21	15	paid	pay	VERB
fsr-3458	21	16	on	on	ADP
fsr-3458	21	17	commission	commission	NOUN
fsr-3458	21	18	,	,	PUNCT
fsr-3458	21	19	as	as	SCONJ
fsr-3458	21	20	is	be	AUX
fsr-3458	21	21	also	also	ADV
fsr-3458	21	22	the	the	DET
fsr-3458	21	23	case	case	NOUN
fsr-3458	21	24	with	with	ADP
fsr-3458	21	25	those	those	PRON
fsr-3458	21	26	selling	sell	VERB
fsr-3458	21	27	stocks	stock	NOUN
fsr-3458	21	28	,	,	PUNCT
fsr-3458	21	29	bonds	bond	NOUN
fsr-3458	21	30	,	,	PUNCT
fsr-3458	21	31	or	or	CCONJ
fsr-3458	21	32	insurance	insurance	NOUN
fsr-3458	21	33	and	and	CCONJ
fsr-3458	21	34	annuity	annuity	NOUN
fsr-3458	21	35	products	product	NOUN
fsr-3458	21	36	.	.	PUNCT
fsr-3458	22	1	while	while	SCONJ
fsr-3458	22	2	this	this	DET
fsr-3458	22	3	latter	latter	ADJ
fsr-3458	22	4	approach	approach	NOUN
fsr-3458	22	5	may	may	AUX
fsr-3458	22	6	indeed	indeed	ADV
fsr-3458	22	7	be	be	AUX
fsr-3458	22	8	a	a	DET
fsr-3458	22	9	lower	low	ADJ
fsr-3458	22	10	-	-	PUNCT
fsr-3458	22	11	cost	cost	NOUN
fsr-3458	22	12	approach	approach	NOUN
fsr-3458	22	13	for	for	ADP
fsr-3458	22	14	some	some	DET
fsr-3458	22	15	clients	client	NOUN
fsr-3458	22	16	,	,	PUNCT
fsr-3458	22	17	it	it	PRON
fsr-3458	22	18	is	be	AUX
fsr-3458	22	19	not	not	PART
fsr-3458	22	20	necessarily	necessarily	ADV
fsr-3458	22	21	clear	clear	ADJ
fsr-3458	22	22	if	if	SCONJ
fsr-3458	22	23	and	and	CCONJ
fsr-3458	22	24	whether	whether	SCONJ
fsr-3458	22	25	there	there	PRON
fsr-3458	22	26	is	be	VERB
fsr-3458	22	27	a	a	DET
fsr-3458	22	28	line	line	NOUN
fsr-3458	22	29	between	between	ADP
fsr-3458	22	30	fees	fee	NOUN
fsr-3458	22	31	associated	associate	VERB
fsr-3458	22	32	with	with	ADP
fsr-3458	22	33	completing	complete	VERB
fsr-3458	22	34	a	a	DET
fsr-3458	22	35	transaction	transaction	NOUN
fsr-3458	22	36	and	and	CCONJ
fsr-3458	22	37	fees	fee	NOUN
fsr-3458	22	38	paid	pay	VERB
fsr-3458	22	39	for	for	ADP
fsr-3458	22	40	financial	financial	ADJ
fsr-3458	22	41	planning	planning	NOUN
fsr-3458	22	42	or	or	CCONJ
fsr-3458	22	43	advice	advice	NOUN
fsr-3458	22	44	.	.	PUNCT
fsr-3458	23	1	the	the	DET
fsr-3458	23	2	further	further	ADJ
fsr-3458	23	3	alternative	alternative	ADJ
fsr-3458	23	4	case	case	NOUN
fsr-3458	23	5	where	where	SCONJ
fsr-3458	23	6	professionals	professional	NOUN
fsr-3458	23	7	are	be	AUX
fsr-3458	23	8	“	"	PUNCT
fsr-3458	23	9	dual	dual	ADV
fsr-3458	23	10	-	-	PUNCT
fsr-3458	23	11	registered	register	VERB
fsr-3458	23	12	”	"	PUNCT
fsr-3458	23	13	as	as	SCONJ
fsr-3458	23	14	both	both	DET
fsr-3458	23	15	rias	ria	NOUN
fsr-3458	23	16	and	and	CCONJ
fsr-3458	23	17	bds	bds	NOUN
fsr-3458	23	18	certainly	certainly	ADV
fsr-3458	23	19	does	do	AUX
fsr-3458	23	20	not	not	PART
fsr-3458	23	21	clarify	clarify	VERB
fsr-3458	23	22	the	the	DET
fsr-3458	23	23	situation	situation	NOUN
fsr-3458	23	24	(	(	PUNCT
fsr-3458	23	25	haslem	haslem	NOUN
fsr-3458	23	26	2010	2010	NUM
fsr-3458	23	27	)	)	PUNCT
fsr-3458	23	28	.	.	PUNCT
fsr-3458	24	1	no	no	ADV
fsr-3458	24	2	matter	matter	ADV
fsr-3458	24	3	the	the	DET
fsr-3458	24	4	compensation	compensation	NOUN
fsr-3458	24	5	approach	approach	NOUN
fsr-3458	24	6	,	,	PUNCT
fsr-3458	24	7	research	research	NOUN
fsr-3458	24	8	suggests	suggest	VERB
fsr-3458	24	9	that	that	SCONJ
fsr-3458	24	10	advisors	advisor	NOUN
fsr-3458	24	11	do	do	AUX
fsr-3458	24	12	not	not	PART
fsr-3458	24	13	always	always	ADV
fsr-3458	24	14	act	act	VERB
fsr-3458	24	15	in	in	ADP
fsr-3458	24	16	clients	client	NOUN
fsr-3458	24	17	’	’	PART
fsr-3458	24	18	best	good	ADJ
fsr-3458	24	19	interests	interest	NOUN
fsr-3458	24	20	.	.	PUNCT
fsr-3458	25	1	hoechle	hoechle	PROPN
fsr-3458	25	2	et	et	PROPN
fsr-3458	25	3	al	al	PROPN
fsr-3458	25	4	(	(	PUNCT
fsr-3458	25	5	2018	2018	NUM
fsr-3458	25	6	)	)	PUNCT
fsr-3458	25	7	,	,	PUNCT
fsr-3458	25	8	in	in	ADP
fsr-3458	25	9	a	a	DET
fsr-3458	25	10	study	study	NOUN
fsr-3458	25	11	of	of	ADP
fsr-3458	25	12	financial	financial	ADJ
fsr-3458	25	13	advisors	advisor	NOUN
fsr-3458	25	14	working	work	VERB
fsr-3458	25	15	for	for	ADP
fsr-3458	25	16	banks	bank	NOUN
fsr-3458	25	17	,	,	PUNCT
fsr-3458	25	18	suggest	suggest	VERB
fsr-3458	25	19	advisors	advisor	NOUN
fsr-3458	25	20	recommend	recommend	VERB
fsr-3458	25	21	transactions	transaction	NOUN
fsr-3458	25	22	that	that	PRON
fsr-3458	25	23	are	be	AUX
fsr-3458	25	24	most	most	ADV
fsr-3458	25	25	profitable	profitable	ADJ
fsr-3458	25	26	for	for	ADP
fsr-3458	25	27	the	the	DET
fsr-3458	25	28	bank	bank	NOUN
fsr-3458	25	29	,	,	PUNCT
fsr-3458	25	30	and	and	CCONJ
fsr-3458	25	31	that	that	SCONJ
fsr-3458	25	32	independent	independent	ADJ
fsr-3458	25	33	clients	client	NOUN
fsr-3458	25	34	performed	perform	VERB
fsr-3458	25	35	better	well	ADV
fsr-3458	25	36	than	than	ADP
fsr-3458	25	37	advised	advise	VERB
fsr-3458	25	38	clients	client	NOUN
fsr-3458	25	39	.	.	PUNCT
fsr-3458	26	1	similarly	similarly	ADV
fsr-3458	26	2	,	,	PUNCT
fsr-3458	26	3	egan	egan	PROPN
fsr-3458	26	4	(	(	PUNCT
fsr-3458	26	5	2019	2019	NUM
fsr-3458	26	6	)	)	PUNCT
fsr-3458	26	7	reports	report	VERB
fsr-3458	26	8	the	the	DET
fsr-3458	26	9	incentives	incentive	NOUN
fsr-3458	26	10	of	of	ADP
fsr-3458	26	11	brokers	broker	NOUN
fsr-3458	26	12	do	do	AUX
fsr-3458	26	13	not	not	PART
fsr-3458	26	14	align	align	VERB
fsr-3458	26	15	with	with	ADP
fsr-3458	26	16	clients	client	NOUN
fsr-3458	26	17	.	.	PUNCT
fsr-3458	27	1	perhaps	perhaps	ADV
fsr-3458	27	2	most	most	ADV
fsr-3458	27	3	alarming	alarming	ADJ
fsr-3458	27	4	,	,	PUNCT
fsr-3458	27	5	cheng	cheng	PROPN
fsr-3458	27	6	and	and	CCONJ
fsr-3458	27	7	kalenkoski	kalenkoski	PROPN
fsr-3458	27	8	(	(	PUNCT
fsr-3458	27	9	2018	2018	NUM
fsr-3458	27	10	)	)	PUNCT
fsr-3458	27	11	report	report	NOUN
fsr-3458	27	12	that	that	SCONJ
fsr-3458	27	13	more	more	ADJ
fsr-3458	27	14	than	than	ADP
fsr-3458	27	15	20	20	NUM
fsr-3458	27	16	%	%	NOUN
fsr-3458	27	17	of	of	ADP
fsr-3458	27	18	clients	client	NOUN
fsr-3458	27	19	have	have	VERB
fsr-3458	27	20	no	no	DET
fsr-3458	27	21	idea	idea	NOUN
fsr-3458	27	22	how	how	SCONJ
fsr-3458	27	23	their	their	PRON
fsr-3458	27	24	advisors	advisor	NOUN
fsr-3458	27	25	are	be	AUX
fsr-3458	27	26	paid	pay	VERB
fsr-3458	27	27	.	.	PUNCT
fsr-3458	28	1	the	the	DET
fsr-3458	28	2	purpose	purpose	NOUN
fsr-3458	28	3	of	of	ADP
fsr-3458	28	4	this	this	DET
fsr-3458	28	5	research	research	NOUN
fsr-3458	28	6	is	be	AUX
fsr-3458	28	7	not	not	PART
fsr-3458	28	8	to	to	PART
fsr-3458	28	9	solve	solve	VERB
fsr-3458	28	10	the	the	DET
fsr-3458	28	11	fiduciary	fiduciary	ADJ
fsr-3458	28	12	debate	debate	NOUN
fsr-3458	28	13	.	.	PUNCT
fsr-3458	29	1	instead	instead	ADV
fsr-3458	29	2	,	,	PUNCT
fsr-3458	29	3	we	we	PRON
fsr-3458	29	4	seek	seek	VERB
fsr-3458	29	5	to	to	PART
fsr-3458	29	6	examine	examine	VERB
fsr-3458	29	7	a	a	DET
fsr-3458	29	8	potential	potential	ADJ
fsr-3458	29	9	methodology	methodology	NOUN
fsr-3458	29	10	to	to	PART
fsr-3458	29	11	determine	determine	VERB
fsr-3458	29	12	,	,	PUNCT
fsr-3458	29	13	or	or	CCONJ
fsr-3458	29	14	price	price	NOUN
fsr-3458	29	15	,	,	PUNCT
fsr-3458	29	16	the	the	DET
fsr-3458	29	17	value	value	NOUN
fsr-3458	29	18	of	of	ADP
fsr-3458	29	19	financial	financial	ADJ
fsr-3458	29	20	planning.1	planning.1	PROPN
fsr-3458	29	21	more	more	ADV
fsr-3458	29	22	specifically	specifically	ADV
fsr-3458	29	23	,	,	PUNCT
fsr-3458	29	24	we	we	PRON
fsr-3458	29	25	seek	seek	VERB
fsr-3458	29	26	to	to	PART
fsr-3458	29	27	separate	separate	VERB
fsr-3458	29	28	the	the	DET
fsr-3458	29	29	value	value	NOUN
fsr-3458	29	30	of	of	ADP
fsr-3458	29	31	financial	financial	ADJ
fsr-3458	29	32	advice	advice	NOUN
fsr-3458	29	33	from	from	ADP
fsr-3458	29	34	the	the	DET
fsr-3458	29	35	presumed	presume	VERB
fsr-3458	29	36	cost	cost	NOUN
fsr-3458	29	37	of	of	ADP
fsr-3458	29	38	managing	manage	VERB
fsr-3458	29	39	an	an	DET
fsr-3458	29	40	investment	investment	NOUN
fsr-3458	29	41	portfolio	portfolio	NOUN
fsr-3458	29	42	.	.	PUNCT
fsr-3458	30	1	knowing	know	VERB
fsr-3458	30	2	the	the	DET
fsr-3458	30	3	value	value	NOUN
fsr-3458	30	4	of	of	ADP
fsr-3458	30	5	this	this	DET
fsr-3458	30	6	advice	advice	NOUN
fsr-3458	30	7	in	in	ADP
fsr-3458	30	8	a	a	DET
fsr-3458	30	9	competitive	competitive	ADJ
fsr-3458	30	10	market	market	NOUN
fsr-3458	30	11	is	be	AUX
fsr-3458	30	12	critical	critical	ADJ
fsr-3458	30	13	to	to	PART
fsr-3458	30	14	provide	provide	VERB
fsr-3458	30	15	greater	great	ADJ
fsr-3458	30	16	transparency	transparency	NOUN
fsr-3458	30	17	to	to	ADP
fsr-3458	30	18	clients	client	NOUN
fsr-3458	30	19	and	and	CCONJ
fsr-3458	30	20	help	help	VERB
fsr-3458	30	21	planners	planner	NOUN
fsr-3458	30	22	understand	understand	VERB
fsr-3458	30	23	the	the	DET
fsr-3458	30	24	value	value	NOUN
fsr-3458	30	25	of	of	ADP
fsr-3458	30	26	the	the	DET
fsr-3458	30	27	expertise	expertise	NOUN
fsr-3458	30	28	and	and	CCONJ
fsr-3458	30	29	service	service	NOUN
fsr-3458	30	30	they	they	PRON
fsr-3458	30	31	provide	provide	VERB
fsr-3458	30	32	.	.	PUNCT
fsr-3458	31	1	in	in	ADP
fsr-3458	31	2	this	this	DET
fsr-3458	31	3	paper	paper	NOUN
fsr-3458	31	4	,	,	PUNCT
fsr-3458	31	5	we	we	PRON
fsr-3458	31	6	introduce	introduce	VERB
fsr-3458	31	7	and	and	CCONJ
fsr-3458	31	8	examine	examine	VERB
fsr-3458	31	9	a	a	DET
fsr-3458	31	10	composite	composite	ADJ
fsr-3458	31	11	,	,	PUNCT
fsr-3458	31	12	dual	dual	ADJ
fsr-3458	31	13	-	-	PUNCT
fsr-3458	31	14	fee	fee	NOUN
fsr-3458	31	15	structure	structure	NOUN
fsr-3458	31	16	(	(	PUNCT
fsr-3458	31	17	cdfs	cdfs	PROPN
fsr-3458	31	18	)	)	PUNCT
fsr-3458	31	19	for	for	ADP
fsr-3458	31	20	financial	financial	ADJ
fsr-3458	31	21	planners	planner	NOUN
fsr-3458	31	22	.	.	PUNCT
fsr-3458	32	1	we	we	PRON
fsr-3458	32	2	hypothesize	hypothesize	VERB
fsr-3458	32	3	that	that	SCONJ
fsr-3458	32	4	pricing	price	VERB
fsr-3458	32	5	standard	standard	ADJ
fsr-3458	32	6	investment	investment	NOUN
fsr-3458	32	7	management	management	NOUN
fsr-3458	32	8	activities	activity	NOUN
fsr-3458	32	9	competitively	competitively	ADV
fsr-3458	32	10	within	within	ADP
fsr-3458	32	11	the	the	DET
fsr-3458	32	12	market	market	NOUN
fsr-3458	32	13	permits	permit	VERB
fsr-3458	32	14	the	the	DET
fsr-3458	32	15	creation	creation	NOUN
fsr-3458	32	16	of	of	ADP
fsr-3458	32	17	a	a	DET
fsr-3458	32	18	reasonable	reasonable	ADJ
fsr-3458	32	19	pricing	pricing	NOUN
fsr-3458	32	20	strategy	strategy	NOUN
fsr-3458	32	21	for	for	ADP
fsr-3458	32	22	planning	planning	NOUN
fsr-3458	32	23	services	service	NOUN
fsr-3458	32	24	.	.	PUNCT
fsr-3458	33	1	our	our	PRON
fsr-3458	33	2	structure	structure	NOUN
fsr-3458	33	3	specifically	specifically	ADV
fsr-3458	33	4	separates	separate	VERB
fsr-3458	33	5	financial	financial	ADJ
fsr-3458	33	6	planning	planning	NOUN
fsr-3458	33	7	(	(	PUNCT
fsr-3458	33	8	advice	advice	NOUN
fsr-3458	33	9	)	)	PUNCT
fsr-3458	33	10	fees	fee	NOUN
fsr-3458	33	11	from	from	ADP
fsr-3458	33	12	i	i	PRON
fsr-3458	33	13	m	m	NOUN
fsr-3458	33	14	fees	fee	NOUN
fsr-3458	33	15	that	that	PRON
fsr-3458	33	16	are	be	AUX
fsr-3458	33	17	often	often	ADV
fsr-3458	33	18	subsumed	subsume	VERB
fsr-3458	33	19	in	in	ADP
fsr-3458	33	20	a	a	DET
fsr-3458	33	21	single	single	ADJ
fsr-3458	33	22	aum	aum	NOUN
fsr-3458	33	23	fee	fee	NOUN
fsr-3458	33	24	.	.	PUNCT
fsr-3458	34	1	this	this	DET
fsr-3458	34	2	approach	approach	NOUN
fsr-3458	34	3	may	may	AUX
fsr-3458	34	4	reduce	reduce	VERB
fsr-3458	34	5	or	or	CCONJ
fsr-3458	34	6	perhaps	perhaps	ADV
fsr-3458	34	7	limit	limit	VERB
fsr-3458	34	8	perceived	perceive	VERB
fsr-3458	34	9	potential	potential	ADJ
fsr-3458	34	10	conflicts	conflict	NOUN
fsr-3458	34	11	of	of	ADP
fsr-3458	34	12	interest	interest	NOUN
fsr-3458	34	13	by	by	ADP
fsr-3458	34	14	providing	provide	VERB
fsr-3458	34	15	a	a	DET
fsr-3458	34	16	mechanism	mechanism	NOUN
fsr-3458	34	17	where	where	SCONJ
fsr-3458	34	18	financial	financial	ADJ
fsr-3458	34	19	planners	planner	NOUN
fsr-3458	34	20	can	can	AUX
fsr-3458	34	21	be	be	AUX
fsr-3458	34	22	compensated	compensate	VERB
fsr-3458	34	23	for	for	ADP
fsr-3458	34	24	planning	planning	NOUN
fsr-3458	34	25	efforts	effort	NOUN
fsr-3458	34	26	whether	whether	SCONJ
fsr-3458	34	27	or	or	CCONJ
fsr-3458	34	28	not	not	PART
fsr-3458	34	29	the	the	DET
fsr-3458	34	30	client	client	NOUN
fsr-3458	34	31	moves	move	VERB
fsr-3458	34	32	investable	investable	ADJ
fsr-3458	34	33	funds	fund	NOUN
fsr-3458	34	34	to	to	ADP
fsr-3458	34	35	the	the	DET
fsr-3458	34	36	planner	planner	NOUN
fsr-3458	34	37	for	for	SCONJ
fsr-3458	34	38	the	the	DET
fsr-3458	34	39	planner	planner	NOUN
fsr-3458	34	40	to	to	PART
fsr-3458	34	41	manage	manage	VERB
fsr-3458	34	42	.	.	PUNCT
fsr-3458	35	1	228	228	NUM
fsr-3458	35	2	s.	s.	PROPN
fsr-3458	35	3	p.	p.	PROPN
fsr-3458	35	4	fraser	fraser	PROPN
fsr-3458	35	5	et	et	PROPN
fsr-3458	35	6	al	al	PROPN
fsr-3458	35	7	.	.	PUNCT
fsr-3458	35	8	/	/	SYM
fsr-3458	35	9	financial	financial	ADJ
fsr-3458	35	10	services	service	NOUN
fsr-3458	35	11	review	review	VERB
fsr-3458	35	12	29	29	NUM
fsr-3458	35	13	(	(	PUNCT
fsr-3458	35	14	2021	2021	NUM
fsr-3458	35	15	)	)	PUNCT
fsr-3458	36	1	227–245	227–245	NUM
fsr-3458	36	2	2	2	NUM
fsr-3458	36	3	.	.	PUNCT
fsr-3458	36	4	previous	previous	ADJ
fsr-3458	36	5	research	research	NOUN
fsr-3458	36	6	there	there	PRON
fsr-3458	36	7	is	be	VERB
fsr-3458	36	8	limited	limited	ADJ
fsr-3458	36	9	research	research	NOUN
fsr-3458	36	10	that	that	PRON
fsr-3458	36	11	specifically	specifically	ADV
fsr-3458	36	12	addresses	address	VERB
fsr-3458	36	13	advisor	advisor	NOUN
fsr-3458	36	14	fees	fee	NOUN
fsr-3458	36	15	outside	outside	ADP
fsr-3458	36	16	of	of	ADP
fsr-3458	36	17	the	the	DET
fsr-3458	36	18	impact	impact	NOUN
fsr-3458	36	19	of	of	ADP
fsr-3458	36	20	fees	fee	NOUN
fsr-3458	36	21	on	on	ADP
fsr-3458	36	22	investor	investor	NOUN
fsr-3458	36	23	returns	return	NOUN
fsr-3458	36	24	.	.	PUNCT
fsr-3458	37	1	it	it	PRON
fsr-3458	37	2	is	be	AUX
fsr-3458	37	3	well	well	ADV
fsr-3458	37	4	documented	document	VERB
fsr-3458	37	5	that	that	SCONJ
fsr-3458	37	6	higher	high	ADJ
fsr-3458	37	7	management	management	NOUN
fsr-3458	37	8	fees	fee	NOUN
fsr-3458	37	9	are	be	AUX
fsr-3458	37	10	associated	associate	VERB
fsr-3458	37	11	with	with	ADP
fsr-3458	37	12	lower	low	ADJ
fsr-3458	37	13	investor	investor	NOUN
fsr-3458	37	14	returns	return	NOUN
fsr-3458	37	15	(	(	PUNCT
fsr-3458	37	16	fama	fama	PROPN
fsr-3458	37	17	&	&	CCONJ
fsr-3458	37	18	french	french	PROPN
fsr-3458	37	19	,	,	PUNCT
fsr-3458	37	20	2010	2010	NUM
fsr-3458	37	21	)	)	PUNCT
fsr-3458	37	22	.	.	PUNCT
fsr-3458	38	1	fees	fee	NOUN
fsr-3458	38	2	and	and	CCONJ
fsr-3458	38	3	investor	investor	NOUN
fsr-3458	38	4	returns	return	NOUN
fsr-3458	38	5	are	be	AUX
fsr-3458	38	6	naturally	naturally	ADV
fsr-3458	38	7	a	a	DET
fsr-3458	38	8	zero	zero	NUM
fsr-3458	38	9	-	-	PUNCT
fsr-3458	38	10	sum	sum	NOUN
fsr-3458	38	11	game	game	NOUN
fsr-3458	38	12	:	:	PUNCT
fsr-3458	38	13	a	a	DET
fsr-3458	38	14	dollar	dollar	NOUN
fsr-3458	38	15	paid	pay	VERB
fsr-3458	38	16	in	in	ADP
fsr-3458	38	17	fees	fee	NOUN
fsr-3458	38	18	is	be	AUX
fsr-3458	38	19	a	a	DET
fsr-3458	38	20	dollar	dollar	NOUN
fsr-3458	38	21	less	less	ADJ
fsr-3458	38	22	that	that	SCONJ
fsr-3458	38	23	investors	investor	NOUN
fsr-3458	38	24	receive	receive	VERB
fsr-3458	38	25	in	in	ADP
fsr-3458	38	26	returns	return	NOUN
fsr-3458	38	27	(	(	PUNCT
fsr-3458	38	28	sec	sec	PROPN
fsr-3458	38	29	,	,	PUNCT
fsr-3458	38	30	2014	2014	NUM
fsr-3458	38	31	)	)	PUNCT
fsr-3458	38	32	.	.	PUNCT
fsr-3458	39	1	however	however	ADV
fsr-3458	39	2	,	,	PUNCT
fsr-3458	39	3	there	there	PRON
fsr-3458	39	4	is	be	VERB
fsr-3458	39	5	some	some	DET
fsr-3458	39	6	literature	literature	NOUN
fsr-3458	39	7	that	that	PRON
fsr-3458	39	8	addresses	address	VERB
fsr-3458	39	9	what	what	PRON
fsr-3458	39	10	clients	client	NOUN
fsr-3458	39	11	might	might	AUX
fsr-3458	39	12	be	be	AUX
fsr-3458	39	13	looking	look	VERB
fsr-3458	39	14	for	for	ADP
fsr-3458	39	15	from	from	ADP
fsr-3458	39	16	financial	financial	ADJ
fsr-3458	39	17	planners	planner	NOUN
fsr-3458	39	18	,	,	PUNCT
fsr-3458	39	19	as	as	ADV
fsr-3458	39	20	well	well	ADV
fsr-3458	39	21	as	as	ADP
fsr-3458	39	22	some	some	DET
fsr-3458	39	23	survey	survey	NOUN
fsr-3458	39	24	work	work	NOUN
fsr-3458	39	25	sampling	sample	VERB
fsr-3458	39	26	the	the	DET
fsr-3458	39	27	various	various	ADJ
fsr-3458	39	28	fee	fee	NOUN
fsr-3458	39	29	structures	structure	NOUN
fsr-3458	39	30	used	use	VERB
fsr-3458	39	31	by	by	ADP
fsr-3458	39	32	advisors	advisor	NOUN
fsr-3458	39	33	of	of	ADP
fsr-3458	39	34	different	different	ADJ
fsr-3458	39	35	types	type	NOUN
fsr-3458	39	36	.	.	PUNCT
fsr-3458	40	1	we	we	PRON
fsr-3458	40	2	review	review	VERB
fsr-3458	40	3	some	some	PRON
fsr-3458	40	4	of	of	ADP
fsr-3458	40	5	the	the	DET
fsr-3458	40	6	salient	salient	NOUN
fsr-3458	40	7	literature	literature	NOUN
fsr-3458	40	8	in	in	ADP
fsr-3458	40	9	each	each	DET
fsr-3458	40	10	space	space	NOUN
fsr-3458	40	11	next	next	ADV
fsr-3458	40	12	.	.	PUNCT
fsr-3458	41	1	bae	bae	NOUN
fsr-3458	41	2	and	and	CCONJ
fsr-3458	41	3	sandager	sandager	NOUN
fsr-3458	41	4	(	(	PUNCT
fsr-3458	41	5	1997	1997	NUM
fsr-3458	41	6	)	)	PUNCT
fsr-3458	41	7	examine	examine	VERB
fsr-3458	41	8	characteristics	characteristic	NOUN
fsr-3458	41	9	that	that	PRON
fsr-3458	41	10	consumers	consumer	NOUN
fsr-3458	41	11	sought	seek	VERB
fsr-3458	41	12	from	from	ADP
fsr-3458	41	13	financial	financial	ADJ
fsr-3458	41	14	planners	planner	NOUN
fsr-3458	41	15	.	.	PUNCT
fsr-3458	42	1	they	they	PRON
fsr-3458	42	2	find	find	VERB
fsr-3458	42	3	that	that	SCONJ
fsr-3458	42	4	clients	client	NOUN
fsr-3458	42	5	primarily	primarily	ADV
fsr-3458	42	6	seek	seek	VERB
fsr-3458	42	7	advice	advice	NOUN
fsr-3458	42	8	on	on	ADP
fsr-3458	42	9	retirement	retirement	NOUN
fsr-3458	42	10	funding	funding	NOUN
fsr-3458	42	11	,	,	PUNCT
fsr-3458	42	12	investment	investment	NOUN
fsr-3458	42	13	growth	growth	NOUN
fsr-3458	42	14	,	,	PUNCT
fsr-3458	42	15	and	and	CCONJ
fsr-3458	42	16	reducing	reduce	VERB
fsr-3458	42	17	taxes	taxis	NOUN
fsr-3458	42	18	.	.	PUNCT
fsr-3458	43	1	most	most	ADJ
fsr-3458	43	2	simply	simply	ADV
fsr-3458	43	3	want	want	VERB
fsr-3458	43	4	a	a	DET
fsr-3458	43	5	comprehensive	comprehensive	ADJ
fsr-3458	43	6	review	review	NOUN
fsr-3458	43	7	of	of	ADP
fsr-3458	43	8	their	their	PRON
fsr-3458	43	9	situation	situation	NOUN
fsr-3458	43	10	.	.	PUNCT
fsr-3458	44	1	furthermore	furthermore	ADV
fsr-3458	44	2	,	,	PUNCT
fsr-3458	44	3	they	they	PRON
fsr-3458	44	4	find	find	VERB
fsr-3458	44	5	only	only	ADV
fsr-3458	44	6	20	20	NUM
fsr-3458	44	7	%	%	NOUN
fsr-3458	44	8	of	of	ADP
fsr-3458	44	9	survey	survey	NOUN
fsr-3458	44	10	respondents	respondent	NOUN
fsr-3458	44	11	preferred	prefer	VERB
fsr-3458	44	12	a	a	DET
fsr-3458	44	13	planner	planner	NOUN
fsr-3458	44	14	be	be	AUX
fsr-3458	44	15	compensated	compensate	VERB
fsr-3458	44	16	by	by	ADP
fsr-3458	44	17	commissions	commission	NOUN
fsr-3458	44	18	from	from	ADP
fsr-3458	44	19	sales	sale	NOUN
fsr-3458	44	20	exclusively	exclusively	ADV
fsr-3458	44	21	.	.	PUNCT
fsr-3458	45	1	statman	statman	NOUN
fsr-3458	45	2	(	(	PUNCT
fsr-3458	45	3	2000	2000	NUM
fsr-3458	45	4	)	)	PUNCT
fsr-3458	45	5	suggests	suggest	VERB
fsr-3458	45	6	financial	financial	ADJ
fsr-3458	45	7	planners	planner	NOUN
fsr-3458	45	8	are	be	AUX
fsr-3458	45	9	investor	investor	NOUN
fsr-3458	45	10	managers	manager	NOUN
fsr-3458	45	11	,	,	PUNCT
fsr-3458	45	12	and	and	CCONJ
fsr-3458	45	13	they	they	PRON
fsr-3458	45	14	focus	focus	VERB
fsr-3458	45	15	too	too	ADV
fsr-3458	45	16	little	little	ADJ
fsr-3458	45	17	on	on	ADP
fsr-3458	45	18	the	the	DET
fsr-3458	45	19	value	value	NOUN
fsr-3458	45	20	they	they	PRON
fsr-3458	45	21	contribute	contribute	VERB
fsr-3458	45	22	as	as	ADP
fsr-3458	45	23	managing	manage	VERB
fsr-3458	45	24	investors	investor	NOUN
fsr-3458	45	25	and	and	CCONJ
fsr-3458	45	26	too	too	ADV
fsr-3458	45	27	much	much	ADJ
fsr-3458	45	28	on	on	ADP
fsr-3458	45	29	clouding	cloud	VERB
fsr-3458	45	30	the	the	DET
fsr-3458	45	31	fees	fee	NOUN
fsr-3458	45	32	they	they	PRON
fsr-3458	45	33	charge	charge	VERB
fsr-3458	45	34	for	for	ADP
fsr-3458	45	35	those	those	DET
fsr-3458	45	36	contributions	contribution	NOUN
fsr-3458	45	37	.	.	PUNCT
fsr-3458	46	1	finke	finke	PROPN
fsr-3458	46	2	,	,	PUNCT
fsr-3458	46	3	huston	huston	PROPN
fsr-3458	46	4	,	,	PUNCT
fsr-3458	46	5	and	and	CCONJ
fsr-3458	46	6	winchester	winchester	PROPN
fsr-3458	46	7	(	(	PUNCT
fsr-3458	46	8	2011	2011	NUM
fsr-3458	46	9	)	)	PUNCT
fsr-3458	46	10	find	find	VERB
fsr-3458	46	11	that	that	SCONJ
fsr-3458	46	12	wealth	wealth	NOUN
fsr-3458	46	13	is	be	AUX
fsr-3458	46	14	the	the	DET
fsr-3458	46	15	strongest	strong	ADJ
fsr-3458	46	16	predictor	predictor	NOUN
fsr-3458	46	17	in	in	ADP
fsr-3458	46	18	the	the	DET
fsr-3458	46	19	decision	decision	NOUN
fsr-3458	46	20	to	to	PART
fsr-3458	46	21	pay	pay	VERB
fsr-3458	46	22	for	for	ADP
fsr-3458	46	23	financial	financial	ADJ
fsr-3458	46	24	advice	advice	NOUN
fsr-3458	46	25	.	.	PUNCT
fsr-3458	47	1	they	they	PRON
fsr-3458	47	2	find	find	VERB
fsr-3458	47	3	those	those	PRON
fsr-3458	47	4	with	with	ADP
fsr-3458	47	5	at	at	ADP
fsr-3458	47	6	least	least	ADJ
fsr-3458	47	7	a	a	DET
fsr-3458	47	8	college	college	NOUN
fsr-3458	47	9	degree	degree	NOUN
fsr-3458	47	10	are	be	AUX
fsr-3458	47	11	more	more	ADV
fsr-3458	47	12	likely	likely	ADJ
fsr-3458	47	13	to	to	PART
fsr-3458	47	14	hire	hire	VERB
fsr-3458	47	15	an	an	DET
fsr-3458	47	16	expert	expert	NOUN
fsr-3458	47	17	;	;	PUNCT
fsr-3458	47	18	however	however	ADV
fsr-3458	47	19	,	,	PUNCT
fsr-3458	47	20	those	those	PRON
fsr-3458	47	21	who	who	PRON
fsr-3458	47	22	perceive	perceive	VERB
fsr-3458	47	23	they	they	PRON
fsr-3458	47	24	have	have	VERB
fsr-3458	47	25	a	a	DET
fsr-3458	47	26	better	well	ADJ
fsr-3458	47	27	understanding	understanding	NOUN
fsr-3458	47	28	of	of	ADP
fsr-3458	47	29	financial	financial	ADJ
fsr-3458	47	30	issues	issue	NOUN
fsr-3458	47	31	are	be	AUX
fsr-3458	47	32	less	less	ADV
fsr-3458	47	33	likely	likely	ADJ
fsr-3458	47	34	to	to	PART
fsr-3458	47	35	pay	pay	VERB
fsr-3458	47	36	for	for	ADP
fsr-3458	47	37	financial	financial	ADJ
fsr-3458	47	38	advice	advice	NOUN
fsr-3458	47	39	.	.	PUNCT
fsr-3458	48	1	seay	seay	PROPN
fsr-3458	48	2	et	et	PROPN
fsr-3458	48	3	al	al	PROPN
fsr-3458	48	4	(	(	PUNCT
fsr-3458	48	5	2017	2017	NUM
fsr-3458	48	6	)	)	PUNCT
fsr-3458	48	7	suggests	suggest	VERB
fsr-3458	48	8	clients	client	NOUN
fsr-3458	48	9	with	with	ADP
fsr-3458	48	10	different	different	ADJ
fsr-3458	48	11	characteristics	characteristic	NOUN
fsr-3458	48	12	(	(	PUNCT
fsr-3458	48	13	e.g.	e.g.	ADV
fsr-3458	48	14	demographic	demographic	ADJ
fsr-3458	48	15	and	and	CCONJ
fsr-3458	48	16	income	income	NOUN
fsr-3458	48	17	levels	level	NOUN
fsr-3458	48	18	)	)	PUNCT
fsr-3458	48	19	may	may	AUX
fsr-3458	48	20	align	align	VERB
fsr-3458	48	21	themselves	themselves	PRON
fsr-3458	48	22	with	with	ADP
fsr-3458	48	23	different	different	ADJ
fsr-3458	48	24	advisor	advisor	NOUN
fsr-3458	48	25	compensation	compensation	NOUN
fsr-3458	48	26	structures	structure	NOUN
fsr-3458	48	27	.	.	PUNCT
fsr-3458	49	1	cheng	cheng	PROPN
fsr-3458	49	2	and	and	CCONJ
fsr-3458	49	3	kalenkoski	kalenkoski	PROPN
fsr-3458	49	4	(	(	PUNCT
fsr-3458	49	5	2018	2018	NUM
fsr-3458	49	6	)	)	PUNCT
fsr-3458	49	7	survey	survey	VERB
fsr-3458	49	8	investors	investor	NOUN
fsr-3458	49	9	to	to	PART
fsr-3458	49	10	ascertain	ascertain	VERB
fsr-3458	49	11	how	how	SCONJ
fsr-3458	49	12	their	their	PRON
fsr-3458	49	13	advisors	advisor	NOUN
fsr-3458	49	14	are	be	AUX
fsr-3458	49	15	compensated	compensate	VERB
fsr-3458	49	16	and	and	CCONJ
fsr-3458	49	17	find	find	VERB
fsr-3458	49	18	27	27	NUM
fsr-3458	49	19	%	%	NOUN
fsr-3458	49	20	of	of	ADP
fsr-3458	49	21	clients	client	NOUN
fsr-3458	49	22	perceive	perceive	VERB
fsr-3458	49	23	their	their	PRON
fsr-3458	49	24	advisors	advisor	NOUN
fsr-3458	49	25	are	be	AUX
fsr-3458	49	26	compensated	compensate	VERB
fsr-3458	49	27	by	by	ADP
fsr-3458	49	28	charging	charge	VERB
fsr-3458	49	29	a	a	DET
fsr-3458	49	30	percentage	percentage	NOUN
fsr-3458	49	31	of	of	ADP
fsr-3458	49	32	investable	investable	ADJ
fsr-3458	49	33	assets	asset	NOUN
fsr-3458	49	34	,	,	PUNCT
fsr-3458	49	35	16	16	NUM
fsr-3458	49	36	%	%	NOUN
fsr-3458	49	37	commissions	commission	NOUN
fsr-3458	49	38	,	,	PUNCT
fsr-3458	49	39	18	18	NUM
fsr-3458	49	40	%	%	NOUN
fsr-3458	49	41	some	some	DET
fsr-3458	49	42	combination	combination	NOUN
fsr-3458	49	43	of	of	ADP
fsr-3458	49	44	fees	fee	NOUN
fsr-3458	49	45	and	and	CCONJ
fsr-3458	49	46	commissions	commission	NOUN
fsr-3458	49	47	,	,	PUNCT
fsr-3458	49	48	and	and	CCONJ
fsr-3458	49	49	15	15	NUM
fsr-3458	49	50	%	%	NOUN
fsr-3458	49	51	a	a	DET
fsr-3458	49	52	flat	flat	ADJ
fsr-3458	49	53	/	/	SYM
fsr-3458	49	54	hourly	hourly	ADJ
fsr-3458	49	55	fee	fee	NOUN
fsr-3458	49	56	.	.	PUNCT
fsr-3458	50	1	restating	restate	VERB
fsr-3458	50	2	their	their	PRON
fsr-3458	50	3	startling	startling	ADJ
fsr-3458	50	4	result	result	NOUN
fsr-3458	50	5	;	;	PUNCT
fsr-3458	50	6	more	more	ADJ
fsr-3458	50	7	than	than	ADP
fsr-3458	50	8	20	20	NUM
fsr-3458	50	9	%	%	NOUN
fsr-3458	50	10	respond	respond	NOUN
fsr-3458	50	11	they	they	PRON
fsr-3458	50	12	had	have	VERB
fsr-3458	50	13	no	no	DET
fsr-3458	50	14	idea	idea	NOUN
fsr-3458	50	15	how	how	SCONJ
fsr-3458	50	16	their	their	PRON
fsr-3458	50	17	advisors	advisor	NOUN
fsr-3458	50	18	are	be	AUX
fsr-3458	50	19	paid	pay	VERB
fsr-3458	50	20	.	.	PUNCT
fsr-3458	51	1	in	in	ADP
fsr-3458	51	2	summary	summary	NOUN
fsr-3458	51	3	,	,	PUNCT
fsr-3458	51	4	investors	investor	NOUN
fsr-3458	51	5	overwhelmingly	overwhelmingly	ADV
fsr-3458	51	6	do	do	AUX
fsr-3458	51	7	not	not	PART
fsr-3458	51	8	know	know	VERB
fsr-3458	51	9	how	how	SCONJ
fsr-3458	51	10	,	,	PUNCT
fsr-3458	51	11	or	or	CCONJ
fsr-3458	51	12	how	how	SCONJ
fsr-3458	51	13	much	much	ADJ
fsr-3458	51	14	,	,	PUNCT
fsr-3458	51	15	they	they	PRON
fsr-3458	51	16	are	be	AUX
fsr-3458	51	17	paying	pay	VERB
fsr-3458	51	18	advisors	advisor	NOUN
fsr-3458	51	19	.	.	PUNCT
fsr-3458	52	1	particularly	particularly	ADV
fsr-3458	52	2	relevant	relevant	ADJ
fsr-3458	52	3	for	for	ADP
fsr-3458	52	4	this	this	DET
fsr-3458	52	5	research	research	NOUN
fsr-3458	52	6	,	,	PUNCT
fsr-3458	52	7	it	it	PRON
fsr-3458	52	8	is	be	AUX
fsr-3458	52	9	unlikely	unlikely	ADJ
fsr-3458	52	10	clients	client	NOUN
fsr-3458	52	11	know	know	VERB
fsr-3458	52	12	for	for	ADP
fsr-3458	52	13	what	what	PRON
fsr-3458	52	14	they	they	PRON
fsr-3458	52	15	are	be	AUX
fsr-3458	52	16	paying	pay	VERB
fsr-3458	52	17	—	—	PUNCT
fsr-3458	52	18	financial	financial	ADJ
fsr-3458	52	19	advice	advice	NOUN
fsr-3458	52	20	or	or	CCONJ
fsr-3458	52	21	transaction	transaction	NOUN
fsr-3458	52	22	costs	cost	NOUN
fsr-3458	52	23	?	?	PUNCT
fsr-3458	53	1	lahtinen	lahtinen	NOUN
fsr-3458	53	2	and	and	CCONJ
fsr-3458	53	3	shipe	shipe	PROPN
fsr-3458	53	4	(	(	PUNCT
fsr-3458	53	5	2018	2018	NUM
fsr-3458	53	6	)	)	PUNCT
fsr-3458	53	7	review	review	VERB
fsr-3458	53	8	adv	adv	PROPN
fsr-3458	53	9	data	datum	NOUN
fsr-3458	53	10	from	from	ADP
fsr-3458	53	11	2009	2009	NUM
fsr-3458	53	12	to	to	ADP
fsr-3458	53	13	2015	2015	NUM
fsr-3458	53	14	and	and	CCONJ
fsr-3458	53	15	find	find	VERB
fsr-3458	53	16	virtually	virtually	ADV
fsr-3458	53	17	all	all	PRON
fsr-3458	53	18	portfolio	portfolio	NOUN
fsr-3458	53	19	management	management	NOUN
fsr-3458	53	20	investment	investment	NOUN
fsr-3458	53	21	companies	company	NOUN
fsr-3458	53	22	charge	charge	VERB
fsr-3458	53	23	a	a	DET
fsr-3458	53	24	percentage	percentage	NOUN
fsr-3458	53	25	of	of	ADP
fsr-3458	53	26	aum	aum	PROPN
fsr-3458	53	27	while	while	SCONJ
fsr-3458	53	28	financial	financial	ADJ
fsr-3458	53	29	planning	planning	NOUN
fsr-3458	53	30	services	service	NOUN
fsr-3458	53	31	companies	company	NOUN
fsr-3458	53	32	use	use	VERB
fsr-3458	53	33	fixed	fix	VERB
fsr-3458	53	34	and	and	CCONJ
fsr-3458	53	35	hourly	hourly	ADJ
fsr-3458	53	36	fees	fee	NOUN
fsr-3458	53	37	most	most	ADV
fsr-3458	53	38	often	often	ADV
fsr-3458	53	39	.	.	PUNCT
fsr-3458	54	1	the	the	DET
fsr-3458	54	2	authors	author	NOUN
fsr-3458	54	3	conclude	conclude	VERB
fsr-3458	54	4	that	that	SCONJ
fsr-3458	54	5	fee	fee	NOUN
fsr-3458	54	6	structures	structure	NOUN
fsr-3458	54	7	are	be	AUX
fsr-3458	54	8	not	not	PART
fsr-3458	54	9	homogeneous	homogeneous	ADJ
fsr-3458	54	10	and	and	CCONJ
fsr-3458	54	11	vary	vary	VERB
fsr-3458	54	12	depending	depend	VERB
fsr-3458	54	13	on	on	ADP
fsr-3458	54	14	the	the	DET
fsr-3458	54	15	services	service	NOUN
fsr-3458	54	16	offered	offer	VERB
fsr-3458	54	17	by	by	ADP
fsr-3458	54	18	the	the	DET
fsr-3458	54	19	firms	firm	NOUN
fsr-3458	54	20	.	.	PUNCT
fsr-3458	55	1	kitces	kitce	NOUN
fsr-3458	55	2	(	(	PUNCT
fsr-3458	55	3	2017	2017	NUM
fsr-3458	55	4	)	)	PUNCT
fsr-3458	55	5	suggests	suggest	VERB
fsr-3458	55	6	the	the	DET
fsr-3458	55	7	average	average	ADJ
fsr-3458	55	8	percentage	percentage	NOUN
fsr-3458	55	9	of	of	ADP
fsr-3458	55	10	aum	aum	PROPN
fsr-3458	55	11	charged	charge	VERB
fsr-3458	55	12	may	may	AUX
fsr-3458	55	13	be	be	AUX
fsr-3458	55	14	1	1	NUM
fsr-3458	55	15	%	%	NOUN
fsr-3458	55	16	,	,	PUNCT
fsr-3458	55	17	but	but	CCONJ
fsr-3458	55	18	that	that	SCONJ
fsr-3458	55	19	the	the	DET
fsr-3458	55	20	median	median	ADJ
fsr-3458	55	21	fee	fee	NOUN
fsr-3458	55	22	for	for	ADP
fsr-3458	55	23	high	high	ADJ
fsr-3458	55	24	-	-	PUNCT
fsr-3458	55	25	net	net	NOUN
fsr-3458	55	26	-	-	PUNCT
fsr-3458	55	27	worth	worth	ADJ
fsr-3458	55	28	clients	client	NOUN
fsr-3458	55	29	is	be	AUX
fsr-3458	55	30	closer	close	ADJ
fsr-3458	55	31	to	to	ADP
fsr-3458	55	32	0.50	0.50	NUM
fsr-3458	55	33	%	%	NOUN
fsr-3458	55	34	.	.	PUNCT
fsr-3458	56	1	furthermore	furthermore	ADV
fsr-3458	56	2	,	,	PUNCT
fsr-3458	56	3	he	he	PRON
fsr-3458	56	4	reports	report	VERB
fsr-3458	56	5	the	the	DET
fsr-3458	56	6	results	result	NOUN
fsr-3458	56	7	of	of	ADP
fsr-3458	56	8	an	an	DET
fsr-3458	56	9	inside	inside	ADJ
fsr-3458	56	10	information	information	NOUN
fsr-3458	56	11	survey	survey	NOUN
fsr-3458	56	12	suggesting	suggest	VERB
fsr-3458	56	13	that	that	SCONJ
fsr-3458	56	14	the	the	DET
fsr-3458	56	15	all	all	ADV
fsr-3458	56	16	-	-	PUNCT
fsr-3458	56	17	in	in	NOUN
fsr-3458	56	18	fee	fee	NOUN
fsr-3458	56	19	,	,	PUNCT
fsr-3458	56	20	or	or	CCONJ
fsr-3458	56	21	the	the	DET
fsr-3458	56	22	total	total	ADJ
fsr-3458	56	23	fee	fee	NOUN
fsr-3458	56	24	that	that	PRON
fsr-3458	56	25	includes	include	VERB
fsr-3458	56	26	transaction	transaction	NOUN
fsr-3458	56	27	costs	cost	NOUN
fsr-3458	56	28	as	as	ADV
fsr-3458	56	29	well	well	ADV
fsr-3458	56	30	as	as	ADP
fsr-3458	56	31	the	the	DET
fsr-3458	56	32	costs	cost	NOUN
fsr-3458	56	33	of	of	ADP
fsr-3458	56	34	underlying	underlie	VERB
fsr-3458	56	35	products	product	NOUN
fsr-3458	56	36	,	,	PUNCT
fsr-3458	56	37	is	be	AUX
fsr-3458	56	38	closer	close	ADJ
fsr-3458	56	39	to	to	ADP
fsr-3458	56	40	1.65	1.65	NUM
fsr-3458	56	41	%	%	NOUN
fsr-3458	56	42	.	.	PUNCT
fsr-3458	57	1	in	in	ADP
fsr-3458	57	2	summary	summary	NOUN
fsr-3458	57	3	,	,	PUNCT
fsr-3458	57	4	it	it	PRON
fsr-3458	57	5	is	be	AUX
fsr-3458	57	6	perhaps	perhaps	ADV
fsr-3458	57	7	not	not	PART
fsr-3458	57	8	surprising	surprising	ADJ
fsr-3458	57	9	that	that	SCONJ
fsr-3458	57	10	with	with	ADP
fsr-3458	57	11	the	the	DET
fsr-3458	57	12	complexity	complexity	NOUN
fsr-3458	57	13	of	of	ADP
fsr-3458	57	14	fee	fee	NOUN
fsr-3458	57	15	structures	structure	NOUN
fsr-3458	57	16	found	find	VERB
fsr-3458	57	17	across	across	ADP
fsr-3458	57	18	the	the	DET
fsr-3458	57	19	financial	financial	ADJ
fsr-3458	57	20	services	service	NOUN
fsr-3458	57	21	profession	profession	NOUN
fsr-3458	57	22	,	,	PUNCT
fsr-3458	57	23	not	not	PART
fsr-3458	57	24	only	only	ADV
fsr-3458	57	25	do	do	AUX
fsr-3458	57	26	investors	investor	NOUN
fsr-3458	57	27	not	not	PART
fsr-3458	57	28	know	know	VERB
fsr-3458	57	29	how	how	SCONJ
fsr-3458	57	30	their	their	PRON
fsr-3458	57	31	advisors	advisor	NOUN
fsr-3458	57	32	are	be	AUX
fsr-3458	57	33	compensated	compensate	VERB
fsr-3458	57	34	,	,	PUNCT
fsr-3458	57	35	they	they	PRON
fsr-3458	57	36	surely	surely	ADV
fsr-3458	57	37	are	be	AUX
fsr-3458	57	38	not	not	PART
fsr-3458	57	39	likely	likely	ADJ
fsr-3458	57	40	to	to	PART
fsr-3458	57	41	understand	understand	VERB
fsr-3458	57	42	the	the	DET
fsr-3458	57	43	value	value	NOUN
fsr-3458	57	44	of	of	ADP
fsr-3458	57	45	financial	financial	ADJ
fsr-3458	57	46	planning	planning	NOUN
fsr-3458	57	47	relative	relative	ADJ
fsr-3458	57	48	to	to	ADP
fsr-3458	57	49	investment	investment	NOUN
fsr-3458	57	50	management	management	NOUN
fsr-3458	57	51	activities	activity	NOUN
fsr-3458	57	52	.	.	PUNCT
fsr-3458	58	1	s.	s.	PROPN
fsr-3458	58	2	p.	p.	PROPN
fsr-3458	58	3	fraser	fraser	PROPN
fsr-3458	59	1	et	et	PROPN
fsr-3458	59	2	al	al	PROPN
fsr-3458	59	3	.	.	PUNCT
fsr-3458	59	4	/	/	SYM
fsr-3458	59	5	financial	financial	ADJ
fsr-3458	59	6	services	service	NOUN
fsr-3458	59	7	review	review	VERB
fsr-3458	59	8	29	29	NUM
fsr-3458	59	9	(	(	PUNCT
fsr-3458	59	10	2021	2021	NUM
fsr-3458	59	11	)	)	PUNCT
fsr-3458	59	12	227–245	227–245	NUM
fsr-3458	59	13	229	229	NUM
fsr-3458	59	14	3	3	NUM
fsr-3458	59	15	.	.	PUNCT
fsr-3458	59	16	methodology	methodology	NOUN
fsr-3458	59	17	and	and	CCONJ
fsr-3458	59	18	data	datum	NOUN
fsr-3458	59	19	we	we	PRON
fsr-3458	59	20	initially	initially	ADV
fsr-3458	59	21	outline	outline	VERB
fsr-3458	59	22	and	and	CCONJ
fsr-3458	59	23	describe	describe	VERB
fsr-3458	59	24	a	a	DET
fsr-3458	59	25	basic	basic	ADJ
fsr-3458	59	26	dual	dual	ADJ
fsr-3458	59	27	-	-	PUNCT
fsr-3458	59	28	fee	fee	NOUN
fsr-3458	59	29	structure	structure	NOUN
fsr-3458	59	30	before	before	SCONJ
fsr-3458	59	31	we	we	PRON
fsr-3458	59	32	discuss	discuss	VERB
fsr-3458	59	33	how	how	SCONJ
fsr-3458	59	34	such	such	DET
fsr-3458	59	35	a	a	DET
fsr-3458	59	36	structure	structure	NOUN
fsr-3458	59	37	might	might	AUX
fsr-3458	59	38	be	be	AUX
fsr-3458	59	39	utilized	utilize	VERB
fsr-3458	59	40	or	or	CCONJ
fsr-3458	59	41	optimized	optimize	VERB
fsr-3458	59	42	.	.	PUNCT
fsr-3458	60	1	the	the	DET
fsr-3458	60	2	purpose	purpose	NOUN
fsr-3458	60	3	of	of	ADP
fsr-3458	60	4	this	this	DET
fsr-3458	60	5	composite	composite	ADJ
fsr-3458	60	6	structure	structure	NOUN
fsr-3458	60	7	is	be	AUX
fsr-3458	60	8	to	to	ADP
fsr-3458	60	9	both	both	DET
fsr-3458	60	10	value	value	NOUN
fsr-3458	60	11	,	,	PUNCT
fsr-3458	60	12	and	and	CCONJ
fsr-3458	60	13	potentially	potentially	ADV
fsr-3458	60	14	allow	allow	VERB
fsr-3458	60	15	an	an	DET
fsr-3458	60	16	advisor	advisor	NOUN
fsr-3458	60	17	to	to	PART
fsr-3458	60	18	charge	charge	VERB
fsr-3458	60	19	for	for	ADP
fsr-3458	60	20	,	,	PUNCT
fsr-3458	60	21	financial	financial	ADJ
fsr-3458	60	22	planning	planning	NOUN
fsr-3458	60	23	advice	advice	NOUN
fsr-3458	60	24	separately	separately	ADV
fsr-3458	60	25	from	from	ADP
fsr-3458	60	26	any	any	DET
fsr-3458	60	27	i	i	NOUN
fsr-3458	60	28	m	m	PROPN
fsr-3458	60	29	fees	fee	NOUN
fsr-3458	60	30	that	that	PRON
fsr-3458	60	31	may	may	AUX
fsr-3458	60	32	be	be	AUX
fsr-3458	60	33	collected	collect	VERB
fsr-3458	60	34	for	for	ADP
fsr-3458	60	35	managing	manage	VERB
fsr-3458	60	36	aum	aum	PROPN
fsr-3458	60	37	(	(	PUNCT
fsr-3458	60	38	or	or	CCONJ
fsr-3458	60	39	any	any	DET
fsr-3458	60	40	commissions	commission	NOUN
fsr-3458	60	41	earned	earn	VERB
fsr-3458	60	42	associated	associate	VERB
fsr-3458	60	43	with	with	ADP
fsr-3458	60	44	selling	sell	VERB
fsr-3458	60	45	a	a	DET
fsr-3458	60	46	particular	particular	ADJ
fsr-3458	60	47	product	product	NOUN
fsr-3458	60	48	)	)	PUNCT
fsr-3458	60	49	.	.	PUNCT
fsr-3458	61	1	the	the	DET
fsr-3458	61	2	goal	goal	NOUN
fsr-3458	61	3	is	be	AUX
fsr-3458	61	4	to	to	PART
fsr-3458	61	5	develop	develop	VERB
fsr-3458	61	6	an	an	DET
fsr-3458	61	7	approach	approach	NOUN
fsr-3458	61	8	and	and	CCONJ
fsr-3458	61	9	structure	structure	NOUN
fsr-3458	61	10	such	such	ADJ
fsr-3458	61	11	that	that	SCONJ
fsr-3458	61	12	the	the	DET
fsr-3458	61	13	fee	fee	NOUN
fsr-3458	61	14	schedule	schedule	NOUN
fsr-3458	61	15	adequately	adequately	ADV
fsr-3458	61	16	compensates	compensate	VERB
fsr-3458	61	17	the	the	DET
fsr-3458	61	18	planner	planner	NOUN
fsr-3458	61	19	for	for	ADP
fsr-3458	61	20	the	the	DET
fsr-3458	61	21	value	value	NOUN
fsr-3458	61	22	provided	provide	VERB
fsr-3458	61	23	to	to	ADP
fsr-3458	61	24	the	the	DET
fsr-3458	61	25	client	client	NOUN
fsr-3458	61	26	and	and	CCONJ
fsr-3458	61	27	separates	separate	VERB
fsr-3458	61	28	this	this	DET
fsr-3458	61	29	advice	advice	NOUN
fsr-3458	61	30	charge	charge	NOUN
fsr-3458	61	31	from	from	ADP
fsr-3458	61	32	the	the	DET
fsr-3458	61	33	broader	broad	ADJ
fsr-3458	61	34	aum	aum	PROPN
fsr-3458	61	35	fee	fee	NOUN
fsr-3458	61	36	.	.	PUNCT
fsr-3458	62	1	under	under	ADP
fsr-3458	62	2	many	many	ADJ
fsr-3458	62	3	fee	fee	NOUN
fsr-3458	62	4	-	-	PUNCT
fsr-3458	62	5	only	only	ADJ
fsr-3458	62	6	mechanisms	mechanism	NOUN
fsr-3458	62	7	where	where	SCONJ
fsr-3458	62	8	fees	fee	NOUN
fsr-3458	62	9	are	be	AUX
fsr-3458	62	10	charged	charge	VERB
fsr-3458	62	11	as	as	ADP
fsr-3458	62	12	a	a	DET
fsr-3458	62	13	percentage	percentage	NOUN
fsr-3458	62	14	of	of	ADP
fsr-3458	62	15	aum	aum	PROPN
fsr-3458	62	16	,	,	PUNCT
fsr-3458	62	17	the	the	DET
fsr-3458	62	18	assumption	assumption	NOUN
fsr-3458	62	19	is	be	AUX
fsr-3458	62	20	the	the	DET
fsr-3458	62	21	greater	great	ADJ
fsr-3458	62	22	the	the	DET
fsr-3458	62	23	amount	amount	NOUN
fsr-3458	62	24	of	of	ADP
fsr-3458	62	25	assets	asset	NOUN
fsr-3458	62	26	,	,	PUNCT
fsr-3458	62	27	the	the	PRON
fsr-3458	62	28	greater	great	ADJ
fsr-3458	62	29	the	the	DET
fsr-3458	62	30	scope	scope	NOUN
fsr-3458	62	31	of	of	ADP
fsr-3458	62	32	planning	planning	NOUN
fsr-3458	62	33	work	work	NOUN
fsr-3458	62	34	.	.	PUNCT
fsr-3458	63	1	while	while	SCONJ
fsr-3458	63	2	there	there	PRON
fsr-3458	63	3	is	be	VERB
fsr-3458	63	4	likely	likely	ADJ
fsr-3458	63	5	some	some	DET
fsr-3458	63	6	positive	positive	ADJ
fsr-3458	63	7	correlation	correlation	NOUN
fsr-3458	63	8	between	between	ADP
fsr-3458	63	9	investable	investable	ADJ
fsr-3458	63	10	wealth	wealth	NOUN
fsr-3458	63	11	and	and	CCONJ
fsr-3458	63	12	planning	planning	NOUN
fsr-3458	63	13	requirements	requirement	NOUN
fsr-3458	63	14	,	,	PUNCT
fsr-3458	63	15	the	the	DET
fsr-3458	63	16	relationship	relationship	NOUN
fsr-3458	63	17	is	be	AUX
fsr-3458	63	18	not	not	PART
fsr-3458	63	19	always	always	ADV
fsr-3458	63	20	so	so	ADV
fsr-3458	63	21	straightforward	straightforward	ADJ
fsr-3458	63	22	.	.	PUNCT
fsr-3458	64	1	two	two	NUM
fsr-3458	64	2	clients	client	NOUN
fsr-3458	64	3	with	with	ADP
fsr-3458	64	4	similar	similar	ADJ
fsr-3458	64	5	levels	level	NOUN
fsr-3458	64	6	of	of	ADP
fsr-3458	64	7	total	total	ADJ
fsr-3458	64	8	wealth	wealth	NOUN
fsr-3458	64	9	might	might	AUX
fsr-3458	64	10	have	have	VERB
fsr-3458	64	11	very	very	ADV
fsr-3458	64	12	different	different	ADJ
fsr-3458	64	13	planning	planning	NOUN
fsr-3458	64	14	needs	need	NOUN
fsr-3458	64	15	.	.	PUNCT
fsr-3458	65	1	here	here	ADV
fsr-3458	65	2	we	we	PRON
fsr-3458	65	3	address	address	VERB
fsr-3458	65	4	this	this	DET
fsr-3458	65	5	challenge	challenge	NOUN
fsr-3458	65	6	by	by	ADP
fsr-3458	65	7	distinguishing	distinguish	VERB
fsr-3458	65	8	between	between	ADP
fsr-3458	65	9	total	total	ADJ
fsr-3458	65	10	wealth	wealth	NOUN
fsr-3458	65	11	,	,	PUNCT
fsr-3458	65	12	and	and	CCONJ
fsr-3458	65	13	investable	investable	ADJ
fsr-3458	65	14	wealth	wealth	NOUN
fsr-3458	65	15	.	.	PUNCT
fsr-3458	66	1	we	we	PRON
fsr-3458	66	2	use	use	VERB
fsr-3458	66	3	a	a	DET
fsr-3458	66	4	client	client	NOUN
fsr-3458	66	5	’s	’s	PART
fsr-3458	66	6	net	net	ADJ
fsr-3458	66	7	worth	worth	NOUN
fsr-3458	66	8	(	(	PUNCT
fsr-3458	66	9	nw	nw	INTJ
fsr-3458	66	10	)	)	PUNCT
fsr-3458	66	11	as	as	ADP
fsr-3458	66	12	a	a	DET
fsr-3458	66	13	proxy	proxy	NOUN
fsr-3458	66	14	for	for	ADP
fsr-3458	66	15	their	their	PRON
fsr-3458	66	16	total	total	ADJ
fsr-3458	66	17	wealth	wealth	NOUN
fsr-3458	66	18	,	,	PUNCT
fsr-3458	66	19	which	which	PRON
fsr-3458	66	20	we	we	PRON
fsr-3458	66	21	posit	posit	VERB
fsr-3458	66	22	is	be	AUX
fsr-3458	66	23	a	a	DET
fsr-3458	66	24	better	well	ADJ
fsr-3458	66	25	representation	representation	NOUN
fsr-3458	66	26	for	for	ADP
fsr-3458	66	27	the	the	DET
fsr-3458	66	28	financial	financial	ADJ
fsr-3458	66	29	planning	planning	NOUN
fsr-3458	66	30	effort	effort	NOUN
fsr-3458	66	31	associated	associate	VERB
fsr-3458	66	32	with	with	ADP
fsr-3458	66	33	the	the	DET
fsr-3458	66	34	client	client	NOUN
fsr-3458	66	35	’s	’s	PART
fsr-3458	66	36	financial	financial	ADJ
fsr-3458	66	37	situation	situation	NOUN
fsr-3458	66	38	than	than	ADP
fsr-3458	66	39	simply	simply	ADV
fsr-3458	66	40	the	the	DET
fsr-3458	66	41	level	level	NOUN
fsr-3458	66	42	of	of	ADP
fsr-3458	66	43	the	the	DET
fsr-3458	66	44	client	client	NOUN
fsr-3458	66	45	’s	’s	PART
fsr-3458	66	46	investable	investable	ADJ
fsr-3458	66	47	assets	asset	NOUN
fsr-3458	66	48	,	,	PUNCT
fsr-3458	66	49	captured	capture	VERB
fsr-3458	66	50	as	as	ADP
fsr-3458	66	51	aum	aum	PROPN
fsr-3458	66	52	.	.	PROPN
fsr-3458	66	53	in	in	ADP
fsr-3458	66	54	our	our	PRON
fsr-3458	66	55	introductory	introductory	ADJ
fsr-3458	66	56	model	model	NOUN
fsr-3458	66	57	.	.	PUNCT
fsr-3458	67	1	we	we	PRON
fsr-3458	67	2	consider	consider	VERB
fsr-3458	67	3	the	the	DET
fsr-3458	67	4	asset	asset	NOUN
fsr-3458	67	5	universe	universe	NOUN
fsr-3458	67	6	to	to	PART
fsr-3458	67	7	include	include	VERB
fsr-3458	67	8	the	the	DET
fsr-3458	67	9	following	follow	VERB
fsr-3458	67	10	asset	asset	NOUN
fsr-3458	67	11	classes	class	NOUN
fsr-3458	67	12	:	:	PUNCT
fsr-3458	67	13	stocks	stock	NOUN
fsr-3458	67	14	(	(	PUNCT
fsr-3458	67	15	s	s	NOUN
fsr-3458	67	16	)	)	PUNCT
fsr-3458	67	17	,	,	PUNCT
fsr-3458	67	18	bonds	bond	NOUN
fsr-3458	67	19	(	(	PUNCT
fsr-3458	67	20	b	b	NOUN
fsr-3458	67	21	)	)	PUNCT
fsr-3458	67	22	,	,	PUNCT
fsr-3458	67	23	real	real	ADJ
fsr-3458	67	24	estate	estate	NOUN
fsr-3458	67	25	(	(	PUNCT
fsr-3458	67	26	re	re	NOUN
fsr-3458	67	27	)	)	PUNCT
fsr-3458	67	28	,	,	PUNCT
fsr-3458	67	29	and	and	CCONJ
fsr-3458	67	30	business	business	NOUN
fsr-3458	67	31	ownership	ownership	NOUN
fsr-3458	67	32	(	(	PUNCT
fsr-3458	67	33	proxied	proxie	VERB
fsr-3458	67	34	here	here	ADV
fsr-3458	67	35	by	by	ADP
fsr-3458	67	36	private	private	ADJ
fsr-3458	67	37	equity	equity	NOUN
fsr-3458	67	38	,	,	PUNCT
fsr-3458	67	39	pe	pe	PROPN
fsr-3458	67	40	)	)	PUNCT
fsr-3458	67	41	.	.	PUNCT
fsr-3458	68	1	the	the	DET
fsr-3458	68	2	sum	sum	NOUN
fsr-3458	68	3	of	of	ADP
fsr-3458	68	4	these	these	DET
fsr-3458	68	5	assets	asset	NOUN
fsr-3458	68	6	represents	represent	VERB
fsr-3458	68	7	a	a	DET
fsr-3458	68	8	client	client	NOUN
fsr-3458	68	9	’s	’s	PART
fsr-3458	68	10	nw	nw	NOUN
fsr-3458	68	11	at	at	ADP
fsr-3458	68	12	time	time	NOUN
fsr-3458	68	13	“	"	PUNCT
fsr-3458	68	14	t	t	PROPN
fsr-3458	68	15	”	"	PUNCT
fsr-3458	68	16	as	as	SCONJ
fsr-3458	68	17	shown	show	VERB
fsr-3458	68	18	in	in	ADP
fsr-3458	68	19	eq	eq	ADP
fsr-3458	68	20	.	.	PUNCT
fsr-3458	69	1	(	(	PUNCT
fsr-3458	69	2	1	1	NUM
fsr-3458	69	3	)	)	PUNCT
fsr-3458	69	4	.	.	PUNCT
fsr-3458	70	1	for	for	ADP
fsr-3458	70	2	simplicity	simplicity	NOUN
fsr-3458	70	3	purposes	purpose	NOUN
fsr-3458	70	4	,	,	PUNCT
fsr-3458	70	5	we	we	PRON
fsr-3458	70	6	assume	assume	VERB
fsr-3458	70	7	a	a	DET
fsr-3458	70	8	client	client	NOUN
fsr-3458	70	9	’s	’s	PART
fsr-3458	70	10	investable	investable	ADJ
fsr-3458	70	11	assets	asset	NOUN
fsr-3458	70	12	are	be	AUX
fsr-3458	70	13	equal	equal	ADJ
fsr-3458	70	14	to	to	ADP
fsr-3458	70	15	aum	aum	NOUN
fsr-3458	70	16	,	,	PUNCT
fsr-3458	70	17	modeled	model	VERB
fsr-3458	70	18	here	here	ADV
fsr-3458	70	19	as	as	ADP
fsr-3458	70	20	simply	simply	ADV
fsr-3458	70	21	containing	contain	VERB
fsr-3458	70	22	stocks	stock	NOUN
fsr-3458	70	23	and	and	CCONJ
fsr-3458	70	24	bonds	bond	NOUN
fsr-3458	70	25	(	(	PUNCT
fsr-3458	70	26	eq	eq	NOUN
fsr-3458	70	27	.	.	NOUN
fsr-3458	70	28	2	2	NUM
fsr-3458	70	29	)	)	PUNCT
fsr-3458	70	30	.	.	PUNCT
fsr-3458	71	1	the	the	DET
fsr-3458	71	2	non	non	ADJ
fsr-3458	71	3	-	-	ADJ
fsr-3458	71	4	aum	aum	ADJ
fsr-3458	71	5	portion	portion	NOUN
fsr-3458	71	6	of	of	ADP
fsr-3458	71	7	nw	nw	PROPN
fsr-3458	71	8	is	be	AUX
fsr-3458	71	9	modeled	model	VERB
fsr-3458	71	10	by	by	ADP
fsr-3458	71	11	asset	asset	NOUN
fsr-3458	71	12	classes	class	NOUN
fsr-3458	71	13	likely	likely	ADV
fsr-3458	71	14	held	hold	VERB
fsr-3458	71	15	by	by	ADP
fsr-3458	71	16	high	high	ADJ
fsr-3458	71	17	net	net	ADJ
fsr-3458	71	18	worth	worth	ADJ
fsr-3458	71	19	clients	client	NOUN
fsr-3458	71	20	.	.	PUNCT
fsr-3458	72	1	specifically	specifically	ADV
fsr-3458	72	2	,	,	PUNCT
fsr-3458	72	3	this	this	DET
fsr-3458	72	4	portion	portion	NOUN
fsr-3458	72	5	of	of	ADP
fsr-3458	72	6	the	the	DET
fsr-3458	72	7	portfolio	portfolio	NOUN
fsr-3458	72	8	includes	include	VERB
fsr-3458	72	9	additional	additional	ADJ
fsr-3458	72	10	assets	asset	NOUN
fsr-3458	72	11	,	,	PUNCT
fsr-3458	72	12	such	such	ADJ
fsr-3458	72	13	as	as	ADP
fsr-3458	72	14	a	a	DET
fsr-3458	72	15	home	home	NOUN
fsr-3458	72	16	(	(	PUNCT
fsr-3458	72	17	real	real	ADJ
fsr-3458	72	18	estate	estate	NOUN
fsr-3458	72	19	,	,	PUNCT
fsr-3458	72	20	re	re	NOUN
fsr-3458	72	21	)	)	PUNCT
fsr-3458	72	22	and	and	CCONJ
fsr-3458	72	23	portion	portion	NOUN
fsr-3458	72	24	of	of	ADP
fsr-3458	72	25	a	a	DET
fsr-3458	72	26	business	business	NOUN
fsr-3458	72	27	(	(	PUNCT
fsr-3458	72	28	private	private	ADJ
fsr-3458	72	29	equity	equity	NOUN
fsr-3458	72	30	,	,	PUNCT
fsr-3458	72	31	pe	pe	PROPN
fsr-3458	72	32	)	)	PUNCT
fsr-3458	72	33	.	.	PUNCT
fsr-3458	73	1	when	when	SCONJ
fsr-3458	73	2	we	we	PRON
fsr-3458	73	3	substitute	substitute	VERB
fsr-3458	73	4	eq	eq	ADP
fsr-3458	73	5	.	.	PUNCT
fsr-3458	74	1	(	(	PUNCT
fsr-3458	74	2	2	2	X
fsr-3458	74	3	)	)	PUNCT
fsr-3458	74	4	in	in	ADP
fsr-3458	74	5	eq	eq	ADP
fsr-3458	74	6	.	.	PUNCT
fsr-3458	75	1	(	(	PUNCT
fsr-3458	75	2	1	1	NUM
fsr-3458	75	3	)	)	PUNCT
fsr-3458	75	4	,	,	PUNCT
fsr-3458	75	5	we	we	PRON
fsr-3458	75	6	get	get	VERB
fsr-3458	75	7	the	the	DET
fsr-3458	75	8	final	final	ADJ
fsr-3458	75	9	result	result	NOUN
fsr-3458	75	10	in	in	ADP
fsr-3458	75	11	eq	eq	ADP
fsr-3458	75	12	.	.	PUNCT
fsr-3458	76	1	(	(	PUNCT
fsr-3458	76	2	3	3	NUM
fsr-3458	76	3	)	)	PUNCT
fsr-3458	76	4	.	.	PUNCT
fsr-3458	77	1	nwt	nwt	PROPN
fsr-3458	77	2	¼	¼	NOUN
fsr-3458	77	3	st	st	PROPN
fsr-3458	77	4	þ	þ	PROPN
fsr-3458	77	5	bt	bt	PROPN
fsr-3458	77	6	þ	þ	PROPN
fsr-3458	77	7	ret	ret	PROPN
fsr-3458	77	8	þ	þ	PROPN
fsr-3458	77	9	pet	pet	PROPN
fsr-3458	77	10	eq	eq	PROPN
fsr-3458	77	11	.	.	PUNCT
fsr-3458	78	1	(	(	PUNCT
fsr-3458	78	2	1	1	X
fsr-3458	78	3	)	)	PUNCT
fsr-3458	78	4	aumt	aumt	NOUN
fsr-3458	78	5	¼	¼	NOUN
fsr-3458	78	6	st	st	PROPN
fsr-3458	78	7	þ	þ	PROPN
fsr-3458	78	8	bt	bt	PROPN
fsr-3458	79	1	eq	eq	PROPN
fsr-3458	79	2	.	.	PUNCT
fsr-3458	80	1	(	(	PUNCT
fsr-3458	80	2	2	2	X
fsr-3458	80	3	)	)	PUNCT
fsr-3458	80	4	nwt	nwt	NOUN
fsr-3458	80	5	¼	¼	NOUN
fsr-3458	80	6	aumt	aumt	NOUN
fsr-3458	80	7	þ	þ	PROPN
fsr-3458	80	8	ret	ret	PROPN
fsr-3458	80	9	þ	þ	PROPN
fsr-3458	80	10	pet	pet	PROPN
fsr-3458	80	11	eq	eq	PROPN
fsr-3458	80	12	.	.	PUNCT
fsr-3458	81	1	(	(	PUNCT
fsr-3458	81	2	3	3	X
fsr-3458	81	3	)	)	PUNCT
fsr-3458	81	4	each	each	PRON
fsr-3458	81	5	of	of	ADP
fsr-3458	81	6	the	the	DET
fsr-3458	81	7	nw	nw	PROPN
fsr-3458	81	8	and	and	CCONJ
fsr-3458	81	9	aum	aum	PROPN
fsr-3458	81	10	portfolios	portfolio	NOUN
fsr-3458	81	11	will	will	AUX
fsr-3458	81	12	increase	increase	VERB
fsr-3458	81	13	or	or	CCONJ
fsr-3458	81	14	decrease	decrease	NOUN
fsr-3458	81	15	based	base	VERB
fsr-3458	81	16	on	on	ADP
fsr-3458	81	17	the	the	DET
fsr-3458	81	18	respective	respective	ADJ
fsr-3458	81	19	returns	return	NOUN
fsr-3458	81	20	of	of	ADP
fsr-3458	81	21	the	the	DET
fsr-3458	81	22	underlying	underlie	VERB
fsr-3458	81	23	asset	asset	NOUN
fsr-3458	81	24	classes	class	NOUN
fsr-3458	81	25	(	(	PUNCT
fsr-3458	81	26	rx	rx	NOUN
fsr-3458	81	27	)	)	PUNCT
fsr-3458	81	28	,	,	PUNCT
fsr-3458	81	29	where	where	SCONJ
fsr-3458	81	30	“	"	PUNCT
fsr-3458	81	31	x	x	X
fsr-3458	81	32	”	"	PUNCT
fsr-3458	81	33	represents	represent	VERB
fsr-3458	81	34	the	the	DET
fsr-3458	81	35	underlying	underlie	VERB
fsr-3458	81	36	asset	asset	NOUN
fsr-3458	81	37	class	class	NOUN
fsr-3458	81	38	.	.	PUNCT
fsr-3458	82	1	the	the	DET
fsr-3458	82	2	value	value	NOUN
fsr-3458	82	3	of	of	ADP
fsr-3458	82	4	the	the	DET
fsr-3458	82	5	portfolios	portfolio	NOUN
fsr-3458	82	6	at	at	ADP
fsr-3458	82	7	time	time	NOUN
fsr-3458	82	8	“	"	PUNCT
fsr-3458	82	9	t	t	NOUN
fsr-3458	82	10	+	+	NOUN
fsr-3458	82	11	1	1	NUM
fsr-3458	82	12	”	"	PUNCT
fsr-3458	82	13	is	be	AUX
fsr-3458	82	14	found	find	VERB
fsr-3458	82	15	by	by	ADP
fsr-3458	82	16	eq	eq	PROPN
fsr-3458	82	17	.	.	PUNCT
fsr-3458	83	1	(	(	PUNCT
fsr-3458	83	2	4	4	NUM
fsr-3458	83	3	)	)	PUNCT
fsr-3458	83	4	for	for	ADP
fsr-3458	83	5	aum	aum	PROPN
fsr-3458	83	6	and	and	CCONJ
fsr-3458	83	7	eq	eq	NOUN
fsr-3458	83	8	.	.	PUNCT
fsr-3458	84	1	(	(	PUNCT
fsr-3458	84	2	5	5	NUM
fsr-3458	84	3	)	)	PUNCT
fsr-3458	84	4	for	for	ADP
fsr-3458	84	5	nw	nw	PROPN
fsr-3458	84	6	.	.	PROPN
fsr-3458	84	7	aumtþ1	aumtþ1	PROPN
fsr-3458	84	8	¼	¼	NOUN
fsr-3458	84	9	st	st	PROPN
fsr-3458	84	10	1	1	NUM
fsr-3458	84	11	þ	þ	NOUN
fsr-3458	84	12	rs	rs	NOUN
fsr-3458	84	13	,	,	PUNCT
fsr-3458	84	14	tð	tð	AUX
fsr-3458	84	15	þ	þ	PROPN
fsr-3458	84	16	þ	þ	PROPN
fsr-3458	84	17	bt	bt	PROPN
fsr-3458	84	18	1	1	NUM
fsr-3458	84	19	þ	þ	NOUN
fsr-3458	84	20	rb	rb	NOUN
fsr-3458	84	21	,	,	PUNCT
fsr-3458	84	22	tð	tð	ADP
fsr-3458	84	23	þ	þ	NOUN
fsr-3458	84	24	eq	eq	PROPN
fsr-3458	84	25	.	.	PUNCT
fsr-3458	85	1	(	(	PUNCT
fsr-3458	85	2	4	4	X
fsr-3458	85	3	)	)	PUNCT
fsr-3458	85	4	nwtþ	nwtþ	NOUN
fsr-3458	85	5	1	1	NUM
fsr-3458	85	6	¼	¼	NOUN
fsr-3458	85	7	aumtþ1	aumtþ1	PROPN
fsr-3458	85	8	þ	þ	PROPN
fsr-3458	85	9	ret	ret	PROPN
fsr-3458	85	10	1	1	NUM
fsr-3458	85	11	þ	þ	NOUN
fsr-3458	85	12	rre	rre	NOUN
fsr-3458	85	13	,	,	PUNCT
fsr-3458	85	14	tð	tð	AUX
fsr-3458	85	15	þ	þ	PROPN
fsr-3458	85	16	þ	þ	PROPN
fsr-3458	85	17	pet	pet	ADJ
fsr-3458	85	18	1	1	NUM
fsr-3458	85	19	þ	þ	NOUN
fsr-3458	85	20	rpe	rpe	PROPN
fsr-3458	85	21	,	,	PUNCT
fsr-3458	85	22	tð	tð	ADP
fsr-3458	85	23	þ	þ	NOUN
fsr-3458	85	24	eq	eq	PROPN
fsr-3458	85	25	.	.	PUNCT
fsr-3458	86	1	(	(	PUNCT
fsr-3458	86	2	5	5	X
fsr-3458	86	3	)	)	PUNCT
fsr-3458	86	4	the	the	DET
fsr-3458	86	5	focus	focus	NOUN
fsr-3458	86	6	of	of	ADP
fsr-3458	86	7	this	this	DET
fsr-3458	86	8	analysis	analysis	NOUN
fsr-3458	86	9	is	be	AUX
fsr-3458	86	10	on	on	ADP
fsr-3458	86	11	the	the	DET
fsr-3458	86	12	fees	fee	NOUN
fsr-3458	86	13	associated	associate	VERB
fsr-3458	86	14	with	with	ADP
fsr-3458	86	15	these	these	DET
fsr-3458	86	16	portfolios	portfolio	NOUN
fsr-3458	86	17	.	.	PUNCT
fsr-3458	87	1	we	we	PRON
fsr-3458	87	2	first	first	ADV
fsr-3458	87	3	model	model	VERB
fsr-3458	87	4	the	the	DET
fsr-3458	87	5	traditional	traditional	ADJ
fsr-3458	87	6	,	,	PUNCT
fsr-3458	87	7	single	single	ADJ
fsr-3458	87	8	,	,	PUNCT
fsr-3458	87	9	fee	fee	NOUN
fsr-3458	87	10	-	-	PUNCT
fsr-3458	87	11	only	only	ADJ
fsr-3458	87	12	approach	approach	NOUN
fsr-3458	87	13	used	use	VERB
fsr-3458	87	14	by	by	ADP
fsr-3458	87	15	many	many	ADJ
fsr-3458	87	16	advisors	advisor	NOUN
fsr-3458	87	17	in	in	ADP
fsr-3458	87	18	eq	eq	ADP
fsr-3458	87	19	.	.	PUNCT
fsr-3458	88	1	(	(	PUNCT
fsr-3458	88	2	6	6	NUM
fsr-3458	88	3	):	):	PUNCT
fsr-3458	88	4	230	230	NUM
fsr-3458	88	5	s.	s.	PROPN
fsr-3458	88	6	p.	p.	PROPN
fsr-3458	88	7	fraser	fraser	PROPN
fsr-3458	89	1	et	et	PROPN
fsr-3458	89	2	al	al	PROPN
fsr-3458	89	3	.	.	PUNCT
fsr-3458	89	4	/	/	SYM
fsr-3458	89	5	financial	financial	ADJ
fsr-3458	89	6	services	service	NOUN
fsr-3458	89	7	review	review	VERB
fsr-3458	89	8	29	29	NUM
fsr-3458	89	9	(	(	PUNCT
fsr-3458	89	10	2021	2021	NUM
fsr-3458	89	11	)	)	PUNCT
fsr-3458	89	12	227–245	227–245	NUM
fsr-3458	89	13	aum	aum	PROPN
fsr-3458	89	14	feet	foot	NOUN
fsr-3458	89	15	¼	¼	NOUN
fsr-3458	89	16	ojv	ojv	PROPN
fsr-3458	89	17	jaumj	jaumj	NOUN
fsr-3458	89	18	,	,	PUNCT
fsr-3458	89	19	t	t	PROPN
fsr-3458	89	20	eq	eq	NOUN
fsr-3458	89	21	.	.	PUNCT
fsr-3458	90	1	(	(	PUNCT
fsr-3458	90	2	6	6	NUM
fsr-3458	90	3	)	)	PUNCT
fsr-3458	90	4	where	where	SCONJ
fsr-3458	90	5	j	j	PROPN
fsr-3458	90	6	represents	represent	VERB
fsr-3458	90	7	the	the	DET
fsr-3458	90	8	number	number	NOUN
fsr-3458	90	9	of	of	ADP
fsr-3458	90	10	tiers	tier	NOUN
fsr-3458	90	11	in	in	ADP
fsr-3458	90	12	the	the	DET
fsr-3458	90	13	(	(	PUNCT
fsr-3458	90	14	regressive	regressive	ADJ
fsr-3458	90	15	)	)	PUNCT
fsr-3458	90	16	fee	fee	NOUN
fsr-3458	90	17	tier	tier	NOUN
fsr-3458	90	18	structure	structure	NOUN
fsr-3458	90	19	and	and	CCONJ
fsr-3458	90	20	v	v	NOUN
fsr-3458	90	21	j	j	PROPN
fsr-3458	90	22	is	be	AUX
fsr-3458	90	23	the	the	DET
fsr-3458	90	24	fee	fee	NOUN
fsr-3458	90	25	level	level	NOUN
fsr-3458	90	26	in	in	ADP
fsr-3458	90	27	tier	tier	NOUN
fsr-3458	90	28	j.	j.	PROPN
fsr-3458	90	29	advisors	advisor	NOUN
fsr-3458	90	30	using	use	VERB
fsr-3458	90	31	this	this	DET
fsr-3458	90	32	model	model	NOUN
fsr-3458	90	33	charge	charge	VERB
fsr-3458	90	34	a	a	DET
fsr-3458	90	35	single	single	ADJ
fsr-3458	90	36	fee	fee	NOUN
fsr-3458	90	37	,	,	PUNCT
fsr-3458	90	38	v	v	X
fsr-3458	90	39	j	j	PROPN
fsr-3458	90	40	,	,	PUNCT
fsr-3458	90	41	which	which	PRON
fsr-3458	90	42	covers	cover	VERB
fsr-3458	90	43	services	service	NOUN
fsr-3458	90	44	associated	associate	VERB
fsr-3458	90	45	with	with	ADP
fsr-3458	90	46	their	their	PRON
fsr-3458	90	47	investment	investment	NOUN
fsr-3458	90	48	management	management	NOUN
fsr-3458	90	49	function	function	NOUN
fsr-3458	90	50	as	as	ADV
fsr-3458	90	51	well	well	ADV
fsr-3458	90	52	as	as	ADP
fsr-3458	90	53	some	some	DET
fsr-3458	90	54	level	level	NOUN
fsr-3458	90	55	of	of	ADP
fsr-3458	90	56	financial	financial	ADJ
fsr-3458	90	57	planning	planning	NOUN
fsr-3458	90	58	service	service	NOUN
fsr-3458	90	59	.	.	PUNCT
fsr-3458	91	1	similarly	similarly	ADV
fsr-3458	91	2	,	,	PUNCT
fsr-3458	91	3	we	we	PRON
fsr-3458	91	4	can	can	AUX
fsr-3458	91	5	model	model	VERB
fsr-3458	91	6	the	the	DET
fsr-3458	91	7	cdfs	cdfs	ADJ
fsr-3458	91	8	fee	fee	NOUN
fsr-3458	91	9	in	in	ADP
fsr-3458	91	10	component	component	NOUN
fsr-3458	91	11	parts	part	NOUN
fsr-3458	91	12	as	as	SCONJ
fsr-3458	91	13	follows	follow	VERB
fsr-3458	91	14	:	:	PUNCT
fsr-3458	91	15	cdfs	cdfs	ADJ
fsr-3458	91	16	feet	foot	NOUN
fsr-3458	91	17	¼	¼	NOUN
fsr-3458	91	18	okw	okw	PROPN
fsr-3458	91	19	kimk	kimk	PROPN
fsr-3458	91	20	,	,	PUNCT
fsr-3458	91	21	t	t	PROPN
fsr-3458	91	22	þ	þ	PROPN
fsr-3458	91	23	olu	olu	PROPN
fsr-3458	91	24	lnwl	lnwl	PROPN
fsr-3458	91	25	,	,	PUNCT
fsr-3458	91	26	t	t	PROPN
fsr-3458	91	27	eq	eq	NOUN
fsr-3458	91	28	.	.	PUNCT
fsr-3458	92	1	(	(	PUNCT
fsr-3458	92	2	7	7	NUM
fsr-3458	92	3	)	)	PUNCT
fsr-3458	92	4	where	where	SCONJ
fsr-3458	92	5	k	k	PROPN
fsr-3458	92	6	and	and	CCONJ
fsr-3458	92	7	l	l	NOUN
fsr-3458	92	8	are	be	AUX
fsr-3458	92	9	analogous	analogous	ADJ
fsr-3458	92	10	to	to	ADP
fsr-3458	92	11	j	j	PROPN
fsr-3458	92	12	,	,	PUNCT
fsr-3458	92	13	and	and	CCONJ
fsr-3458	92	14	w	w	NOUN
fsr-3458	92	15	and	and	CCONJ
fsr-3458	92	16	u	u	PROPN
fsr-3458	92	17	permit	permit	NOUN
fsr-3458	92	18	differential	differential	ADJ
fsr-3458	92	19	fee	fee	NOUN
fsr-3458	92	20	levels	level	NOUN
fsr-3458	92	21	for	for	ADP
fsr-3458	92	22	the	the	DET
fsr-3458	92	23	i	i	NOUN
fsr-3458	92	24	m	m	PROPN
fsr-3458	92	25	and	and	CCONJ
fsr-3458	92	26	nw	nw	PROPN
fsr-3458	92	27	components	component	NOUN
fsr-3458	92	28	.	.	PUNCT
fsr-3458	93	1	it	it	PRON
fsr-3458	93	2	is	be	AUX
fsr-3458	93	3	important	important	ADJ
fsr-3458	93	4	to	to	PART
fsr-3458	93	5	note	note	VERB
fsr-3458	93	6	the	the	DET
fsr-3458	93	7	value	value	NOUN
fsr-3458	93	8	of	of	ADP
fsr-3458	93	9	i	i	PRON
fsr-3458	93	10	m	m	VERB
fsr-3458	93	11	in	in	ADP
fsr-3458	93	12	eq	eq	ADP
fsr-3458	93	13	.	.	PUNCT
fsr-3458	94	1	(	(	PUNCT
fsr-3458	94	2	7	7	X
fsr-3458	94	3	)	)	PUNCT
fsr-3458	94	4	is	be	AUX
fsr-3458	94	5	equivalent	equivalent	ADJ
fsr-3458	94	6	to	to	ADP
fsr-3458	94	7	the	the	DET
fsr-3458	94	8	level	level	NOUN
fsr-3458	94	9	of	of	ADP
fsr-3458	94	10	aum	aum	PROPN
fsr-3458	94	11	in	in	ADP
fsr-3458	94	12	eq	eq	ADP
fsr-3458	94	13	.	.	PUNCT
fsr-3458	95	1	(	(	PUNCT
fsr-3458	95	2	6	6	NUM
fsr-3458	95	3	)	)	PUNCT
fsr-3458	95	4	.	.	PUNCT
fsr-3458	96	1	we	we	PRON
fsr-3458	96	2	change	change	VERB
fsr-3458	96	3	the	the	DET
fsr-3458	96	4	identifying	identify	VERB
fsr-3458	96	5	variable	variable	ADJ
fsr-3458	96	6	name	name	NOUN
fsr-3458	96	7	to	to	PART
fsr-3458	96	8	highlight	highlight	VERB
fsr-3458	96	9	that	that	SCONJ
fsr-3458	96	10	the	the	DET
fsr-3458	96	11	i	i	PROPN
fsr-3458	96	12	m	m	PROPN
fsr-3458	96	13	fee	fee	NOUN
fsr-3458	96	14	,	,	PUNCT
fsr-3458	96	15	w	w	PROPN
fsr-3458	96	16	k	k	NOUN
fsr-3458	96	17	,	,	PUNCT
fsr-3458	96	18	in	in	ADP
fsr-3458	96	19	eq	eq	ADP
fsr-3458	96	20	.	.	PUNCT
fsr-3458	97	1	(	(	PUNCT
fsr-3458	97	2	7	7	X
fsr-3458	97	3	)	)	PUNCT
fsr-3458	97	4	is	be	AUX
fsr-3458	97	5	different	different	ADJ
fsr-3458	97	6	from	from	ADP
fsr-3458	97	7	the	the	DET
fsr-3458	97	8	single	single	ADJ
fsr-3458	97	9	fee	fee	NOUN
fsr-3458	97	10	,	,	PUNCT
fsr-3458	97	11	v	v	X
fsr-3458	97	12	j	j	PROPN
fsr-3458	97	13	,	,	PUNCT
fsr-3458	97	14	in	in	ADP
fsr-3458	97	15	eq	eq	ADP
fsr-3458	97	16	.	.	PUNCT
fsr-3458	98	1	(	(	PUNCT
fsr-3458	98	2	6	6	NUM
fsr-3458	98	3	)	)	PUNCT
fsr-3458	98	4	.	.	PUNCT
fsr-3458	99	1	while	while	SCONJ
fsr-3458	99	2	both	both	PRON
fsr-3458	99	3	are	be	AUX
fsr-3458	99	4	charged	charge	VERB
fsr-3458	99	5	as	as	ADP
fsr-3458	99	6	percentage	percentage	NOUN
fsr-3458	99	7	of	of	ADP
fsr-3458	99	8	aum	aum	PROPN
fsr-3458	99	9	,	,	PUNCT
fsr-3458	99	10	the	the	DET
fsr-3458	99	11	i	i	PROPN
fsr-3458	99	12	m	m	PROPN
fsr-3458	99	13	fee	fee	NOUN
fsr-3458	99	14	,	,	PUNCT
fsr-3458	99	15	w	w	PROPN
fsr-3458	99	16	k	k	PROPN
fsr-3458	99	17	,	,	PUNCT
fsr-3458	99	18	used	use	VERB
fsr-3458	99	19	in	in	ADP
fsr-3458	99	20	eq	eq	ADP
fsr-3458	99	21	.	.	PUNCT
fsr-3458	100	1	(	(	PUNCT
fsr-3458	100	2	7	7	X
fsr-3458	100	3	)	)	PUNCT
fsr-3458	100	4	represents	represent	VERB
fsr-3458	100	5	the	the	DET
fsr-3458	100	6	investment	investment	NOUN
fsr-3458	100	7	management	management	NOUN
fsr-3458	100	8	function	function	NOUN
fsr-3458	100	9	only	only	ADV
fsr-3458	100	10	.	.	PUNCT
fsr-3458	101	1	assuming	assume	VERB
fsr-3458	101	2	a	a	DET
fsr-3458	101	3	financial	financial	ADJ
fsr-3458	101	4	planner	planner	NOUN
fsr-3458	101	5	provides	provide	VERB
fsr-3458	101	6	the	the	DET
fsr-3458	101	7	same	same	ADJ
fsr-3458	101	8	services	service	NOUN
fsr-3458	101	9	under	under	ADP
fsr-3458	101	10	either	either	DET
fsr-3458	101	11	fee	fee	NOUN
fsr-3458	101	12	structure	structure	NOUN
fsr-3458	101	13	,	,	PUNCT
fsr-3458	101	14	in	in	ADP
fsr-3458	101	15	a	a	DET
fsr-3458	101	16	competitive	competitive	ADJ
fsr-3458	101	17	market	market	NOUN
fsr-3458	101	18	it	it	PRON
fsr-3458	101	19	must	must	AUX
fsr-3458	101	20	be	be	AUX
fsr-3458	101	21	true	true	ADJ
fsr-3458	101	22	that	that	SCONJ
fsr-3458	101	23	the	the	DET
fsr-3458	101	24	fees	fee	NOUN
fsr-3458	101	25	are	be	AUX
fsr-3458	101	26	equal	equal	ADJ
fsr-3458	101	27	as	as	SCONJ
fsr-3458	101	28	depicted	depict	VERB
fsr-3458	101	29	in	in	ADP
fsr-3458	101	30	eq	eq	ADP
fsr-3458	101	31	.	.	PUNCT
fsr-3458	102	1	(	(	PUNCT
fsr-3458	102	2	8)	8)	NUM
fsr-3458	102	3	.	.	PUNCT
fsr-3458	102	4	aum	aum	PROPN
fsr-3458	102	5	feet	foot	NOUN
fsr-3458	102	6	¼	¼	NOUN
fsr-3458	102	7	cdfs	cdfs	PROPN
fsr-3458	102	8	feet	foot	NOUN
fsr-3458	102	9	eq	eq	ADP
fsr-3458	102	10	.	.	PUNCT
fsr-3458	103	1	(	(	PUNCT
fsr-3458	103	2	8)	8)	NUM
fsr-3458	103	3	ojv	ojv	NOUN
fsr-3458	103	4	jaumj	jaumj	NOUN
fsr-3458	103	5	,	,	PUNCT
fsr-3458	103	6	t	t	PROPN
fsr-3458	103	7	¼	¼	NOUN
fsr-3458	103	8	oj	oj	ADP
fsr-3458	103	9	w	w	PROPN
fsr-3458	103	10	jimj	jimj	NOUN
fsr-3458	103	11	,	,	PUNCT
fsr-3458	103	12	t	t	PROPN
fsr-3458	103	13	þ	þ	NOUN
fsr-3458	103	14	u	u	PROPN
fsr-3458	103	15	jnwj	jnwj	PROPN
fsr-3458	103	16	,	,	PUNCT
fsr-3458	103	17	t	t	PROPN
fsr-3458	103	18	�	�	PROPN
fsr-3458	103	19	�	�	PROPN
fsr-3458	103	20	eq	eq	ADP
fsr-3458	103	21	.	.	PUNCT
fsr-3458	104	1	(	(	PUNCT
fsr-3458	104	2	9	9	X
fsr-3458	104	3	)	)	PUNCT
fsr-3458	104	4	substituting	substitute	VERB
fsr-3458	104	5	eqs	eqs	PROPN
fsr-3458	104	6	.	.	PUNCT
fsr-3458	105	1	(	(	PUNCT
fsr-3458	105	2	6	6	NUM
fsr-3458	105	3	)	)	PUNCT
fsr-3458	105	4	and	and	CCONJ
fsr-3458	105	5	(	(	PUNCT
fsr-3458	105	6	7	7	X
fsr-3458	105	7	)	)	PUNCT
fsr-3458	105	8	into	into	ADP
fsr-3458	105	9	eq	eq	NOUN
fsr-3458	105	10	.	.	PUNCT
fsr-3458	106	1	(	(	PUNCT
fsr-3458	106	2	8)	8)	NUM
fsr-3458	106	3	yields	yield	NOUN
fsr-3458	106	4	eq	eq	ADP
fsr-3458	106	5	.	.	PUNCT
fsr-3458	107	1	(	(	PUNCT
fsr-3458	107	2	9	9	NUM
fsr-3458	107	3	)	)	PUNCT
fsr-3458	107	4	.	.	PUNCT
fsr-3458	108	1	we	we	PRON
fsr-3458	108	2	can	can	AUX
fsr-3458	108	3	currently	currently	ADV
fsr-3458	108	4	approximate	approximate	VERB
fsr-3458	108	5	v	v	NOUN
fsr-3458	108	6	from	from	ADP
fsr-3458	108	7	what	what	PRON
fsr-3458	108	8	is	be	AUX
fsr-3458	108	9	observed	observe	VERB
fsr-3458	108	10	in	in	ADP
fsr-3458	108	11	marketplace	marketplace	NOUN
fsr-3458	108	12	by	by	ADP
fsr-3458	108	13	fee	fee	NOUN
fsr-3458	108	14	-	-	PUNCT
fsr-3458	108	15	only	only	ADJ
fsr-3458	108	16	planners	planner	NOUN
fsr-3458	108	17	.	.	PUNCT
fsr-3458	109	1	we	we	PRON
fsr-3458	109	2	can	can	AUX
fsr-3458	109	3	also	also	ADV
fsr-3458	109	4	approximate	approximate	VERB
fsr-3458	109	5	w	w	NOUN
fsr-3458	109	6	using	use	VERB
fsr-3458	109	7	so	so	ADV
fsr-3458	109	8	-	-	PUNCT
fsr-3458	109	9	called	call	VERB
fsr-3458	109	10	robo	robo	ADJ
fsr-3458	109	11	advisor	advisor	NOUN
fsr-3458	109	12	fees	fee	NOUN
fsr-3458	109	13	,	,	PUNCT
fsr-3458	109	14	which	which	PRON
fsr-3458	109	15	arguably	arguably	ADV
fsr-3458	109	16	represent	represent	VERB
fsr-3458	109	17	the	the	DET
fsr-3458	109	18	latest	late	ADJ
fsr-3458	109	19	innovation	innovation	NOUN
fsr-3458	109	20	for	for	ADP
fsr-3458	109	21	providing	provide	VERB
fsr-3458	109	22	the	the	DET
fsr-3458	109	23	most	most	ADV
fsr-3458	109	24	basic	basic	ADJ
fsr-3458	109	25	investment	investment	NOUN
fsr-3458	109	26	management	management	NOUN
fsr-3458	109	27	functions	function	NOUN
fsr-3458	109	28	.	.	PUNCT
fsr-3458	110	1	the	the	DET
fsr-3458	110	2	resulting	result	VERB
fsr-3458	110	3	question	question	NOUN
fsr-3458	110	4	is	be	AUX
fsr-3458	110	5	then	then	ADV
fsr-3458	110	6	the	the	DET
fsr-3458	110	7	determination	determination	NOUN
fsr-3458	110	8	of	of	ADP
fsr-3458	110	9	the	the	DET
fsr-3458	110	10	fee	fee	NOUN
fsr-3458	110	11	schedule	schedule	NOUN
fsr-3458	110	12	for	for	ADP
fsr-3458	110	13	u	u	PRON
fsr-3458	110	14	.	.	PUNCT
fsr-3458	111	1	doing	do	VERB
fsr-3458	111	2	so	so	ADV
fsr-3458	111	3	represents	represent	VERB
fsr-3458	111	4	the	the	DET
fsr-3458	111	5	mechanism	mechanism	NOUN
fsr-3458	111	6	for	for	ADP
fsr-3458	111	7	quantifying	quantify	VERB
fsr-3458	111	8	the	the	DET
fsr-3458	111	9	value	value	NOUN
fsr-3458	111	10	of	of	ADP
fsr-3458	111	11	financial	financial	ADJ
fsr-3458	111	12	advice	advice	NOUN
fsr-3458	111	13	using	use	VERB
fsr-3458	111	14	this	this	DET
fsr-3458	111	15	approach	approach	NOUN
fsr-3458	111	16	.	.	PUNCT
fsr-3458	112	1	if	if	SCONJ
fsr-3458	112	2	we	we	PRON
fsr-3458	112	3	allow	allow	VERB
fsr-3458	112	4	v	v	ADP
fsr-3458	112	5	,	,	PUNCT
fsr-3458	112	6	w	w	NOUN
fsr-3458	112	7	,	,	PUNCT
fsr-3458	112	8	and	and	CCONJ
fsr-3458	112	9	u	u	NOUN
fsr-3458	112	10	to	to	PART
fsr-3458	112	11	be	be	AUX
fsr-3458	112	12	a	a	DET
fsr-3458	112	13	single	single	ADJ
fsr-3458	112	14	weighted	weight	VERB
fsr-3458	112	15	fee	fee	NOUN
fsr-3458	112	16	value	value	NOUN
fsr-3458	112	17	representing	represent	VERB
fsr-3458	112	18	a	a	DET
fsr-3458	112	19	multitiered	multitiered	ADJ
fsr-3458	112	20	,	,	PUNCT
fsr-3458	112	21	regressive	regressive	ADJ
fsr-3458	112	22	fee	fee	NOUN
fsr-3458	112	23	schedule	schedule	NOUN
fsr-3458	112	24	as	as	SCONJ
fsr-3458	112	25	detailed	detailed	ADJ
fsr-3458	112	26	later	later	ADV
fsr-3458	112	27	,	,	PUNCT
fsr-3458	112	28	then	then	ADV
fsr-3458	112	29	eq	eq	ADP
fsr-3458	112	30	.	.	PUNCT
fsr-3458	113	1	(	(	PUNCT
fsr-3458	113	2	9	9	X
fsr-3458	113	3	)	)	PUNCT
fsr-3458	113	4	leads	lead	VERB
fsr-3458	113	5	to	to	ADP
fsr-3458	113	6	the	the	DET
fsr-3458	113	7	following	following	NOUN
fsr-3458	113	8	for	for	ADP
fsr-3458	113	9	any	any	DET
fsr-3458	113	10	given	give	VERB
fsr-3458	113	11	year	year	NOUN
fsr-3458	113	12	t.	t.	NOUN
fsr-3458	113	13	u	u	PROPN
fsr-3458	113	14	¼	¼	NOUN
fsr-3458	113	15	v	v	ADP
fsr-3458	113	16	�	�	PROPN
fsr-3458	113	17	wð	wð	PROPN
fsr-3458	113	18	þaum	þaum	PROPN
fsr-3458	113	19	aum	aum	PROPN
fsr-3458	113	20	þ	þ	PROPN
fsr-3458	113	21	re	re	X
fsr-3458	113	22	þ	þ	PROPN
fsr-3458	113	23	pe	pe	PROPN
fsr-3458	113	24	eq	eq	PROPN
fsr-3458	113	25	.	.	PUNCT
fsr-3458	114	1	(	(	PUNCT
fsr-3458	114	2	10	10	NUM
fsr-3458	114	3	)	)	PUNCT
fsr-3458	114	4	in	in	ADP
fsr-3458	114	5	portfolios	portfolio	NOUN
fsr-3458	114	6	consisting	consist	VERB
fsr-3458	114	7	solely	solely	ADV
fsr-3458	114	8	of	of	ADP
fsr-3458	114	9	stocks	stock	NOUN
fsr-3458	114	10	and	and	CCONJ
fsr-3458	114	11	bonds	bond	NOUN
fsr-3458	114	12	,	,	PUNCT
fsr-3458	114	13	eq	eq	NOUN
fsr-3458	114	14	.	.	PUNCT
fsr-3458	115	1	(	(	PUNCT
fsr-3458	115	2	10	10	NUM
fsr-3458	115	3	)	)	PUNCT
fsr-3458	115	4	shows	show	VERB
fsr-3458	115	5	the	the	DET
fsr-3458	115	6	value	value	NOUN
fsr-3458	115	7	of	of	ADP
fsr-3458	115	8	financial	financial	ADJ
fsr-3458	115	9	advice	advice	NOUN
fsr-3458	115	10	is	be	AUX
fsr-3458	115	11	intuitive	intuitive	ADJ
fsr-3458	115	12	,	,	PUNCT
fsr-3458	115	13	and	and	CCONJ
fsr-3458	115	14	captured	capture	VERB
fsr-3458	115	15	simply	simply	ADV
fsr-3458	115	16	as	as	ADP
fsr-3458	115	17	the	the	DET
fsr-3458	115	18	difference	difference	NOUN
fsr-3458	115	19	between	between	ADP
fsr-3458	115	20	robo	robo	NOUN
fsr-3458	115	21	-	-	PUNCT
fsr-3458	115	22	advisor	advisor	NOUN
fsr-3458	115	23	(	(	PUNCT
fsr-3458	115	24	i	i	NOUN
fsr-3458	115	25	m	m	PROPN
fsr-3458	115	26	)	)	PUNCT
fsr-3458	115	27	fees	fee	NOUN
fsr-3458	115	28	and	and	CCONJ
fsr-3458	115	29	the	the	DET
fsr-3458	115	30	(	(	PUNCT
fsr-3458	115	31	observable	observable	ADJ
fsr-3458	115	32	)	)	PUNCT
fsr-3458	115	33	aum	aum	ADJ
fsr-3458	115	34	-	-	ADJ
fsr-3458	115	35	only	only	ADJ
fsr-3458	115	36	fee	fee	NOUN
fsr-3458	115	37	,	,	PUNCT
fsr-3458	115	38	or	or	CCONJ
fsr-3458	115	39	u	u	NOUN
fsr-3458	115	40	¼	¼	NOUN
fsr-3458	115	41	v	v	ADP
fsr-3458	115	42	�	�	PROPN
fsr-3458	115	43	w	w	PROPN
fsr-3458	115	44	.	.	PUNCT
fsr-3458	116	1	however	however	ADV
fsr-3458	116	2	,	,	PUNCT
fsr-3458	116	3	when	when	SCONJ
fsr-3458	116	4	other	other	ADJ
fsr-3458	116	5	assets	asset	NOUN
fsr-3458	116	6	—	—	PUNCT
fsr-3458	116	7	such	such	ADJ
fsr-3458	116	8	as	as	ADP
fsr-3458	116	9	real	real	ADJ
fsr-3458	116	10	estate	estate	NOUN
fsr-3458	116	11	(	(	PUNCT
fsr-3458	116	12	re	re	NOUN
fsr-3458	116	13	)	)	PUNCT
fsr-3458	116	14	or	or	CCONJ
fsr-3458	116	15	business	business	NOUN
fsr-3458	116	16	ownership	ownership	NOUN
fsr-3458	116	17	(	(	PUNCT
fsr-3458	116	18	pe)—become	pe)—become	PRON
fsr-3458	116	19	part	part	NOUN
fsr-3458	116	20	of	of	ADP
fsr-3458	116	21	the	the	DET
fsr-3458	116	22	broader	broad	ADJ
fsr-3458	116	23	portfolio	portfolio	NOUN
fsr-3458	116	24	,	,	PUNCT
fsr-3458	116	25	nw	nw	PROPN
fsr-3458	116	26	increases	increase	NOUN
fsr-3458	116	27	and	and	CCONJ
fsr-3458	116	28	the	the	DET
fsr-3458	116	29	value	value	NOUN
fsr-3458	116	30	of	of	ADP
fsr-3458	116	31	u	u	NOUN
fsr-3458	116	32	is	be	AUX
fsr-3458	116	33	no	no	ADV
fsr-3458	116	34	longer	long	ADJ
fsr-3458	116	35	as	as	ADP
fsr-3458	116	36	static	static	ADJ
fsr-3458	116	37	and	and	CCONJ
fsr-3458	116	38	straightforward	straightforward	ADJ
fsr-3458	116	39	.	.	PUNCT
fsr-3458	117	1	in	in	ADP
fsr-3458	117	2	fact	fact	NOUN
fsr-3458	117	3	,	,	PUNCT
fsr-3458	117	4	there	there	PRON
fsr-3458	117	5	are	be	VERB
fsr-3458	117	6	as	as	ADV
fsr-3458	117	7	many	many	ADJ
fsr-3458	117	8	unique	unique	ADJ
fsr-3458	117	9	solutions	solution	NOUN
fsr-3458	117	10	for	for	ADP
fsr-3458	117	11	u	u	NOUN
fsr-3458	117	12	as	as	SCONJ
fsr-3458	117	13	there	there	PRON
fsr-3458	117	14	are	be	VERB
fsr-3458	117	15	unique	unique	ADJ
fsr-3458	117	16	client	client	NOUN
fsr-3458	117	17	portfolios	portfolio	NOUN
fsr-3458	117	18	.	.	PUNCT
fsr-3458	118	1	additionally	additionally	ADV
fsr-3458	118	2	,	,	PUNCT
fsr-3458	118	3	as	as	SCONJ
fsr-3458	118	4	implemented	implement	VERB
fsr-3458	118	5	later	later	ADV
fsr-3458	118	6	in	in	ADP
fsr-3458	118	7	this	this	DET
fsr-3458	118	8	analysis	analysis	NOUN
fsr-3458	118	9	,	,	PUNCT
fsr-3458	118	10	u	u	PRON
fsr-3458	118	11	can	can	AUX
fsr-3458	118	12	adjust	adjust	VERB
fsr-3458	118	13	over	over	ADP
fsr-3458	118	14	time	time	NOUN
fsr-3458	118	15	due	due	ADP
fsr-3458	118	16	to	to	ADP
fsr-3458	118	17	the	the	DET
fsr-3458	118	18	front	front	ADV
fsr-3458	118	19	-	-	PUNCT
fsr-3458	118	20	loaded	load	VERB
fsr-3458	118	21	nature	nature	NOUN
fsr-3458	118	22	of	of	ADP
fsr-3458	118	23	the	the	DET
fsr-3458	118	24	planning	planning	NOUN
fsr-3458	118	25	function.2	function.2	PROPN
fsr-3458	118	26	s.	s.	PROPN
fsr-3458	118	27	p.	p.	PROPN
fsr-3458	118	28	fraser	fraser	PROPN
fsr-3458	119	1	et	et	PROPN
fsr-3458	119	2	al	al	PROPN
fsr-3458	119	3	.	.	PUNCT
fsr-3458	119	4	/	/	SYM
fsr-3458	119	5	financial	financial	ADJ
fsr-3458	119	6	services	service	NOUN
fsr-3458	119	7	review	review	VERB
fsr-3458	119	8	29	29	NUM
fsr-3458	119	9	(	(	PUNCT
fsr-3458	119	10	2021	2021	NUM
fsr-3458	119	11	)	)	PUNCT
fsr-3458	119	12	227–245	227–245	NUM
fsr-3458	119	13	231	231	NUM
fsr-3458	119	14	while	while	NOUN
fsr-3458	119	15	perhaps	perhaps	ADV
fsr-3458	119	16	true	true	ADJ
fsr-3458	119	17	,	,	PUNCT
fsr-3458	119	18	it	it	PRON
fsr-3458	119	19	is	be	AUX
fsr-3458	119	20	not	not	PART
fsr-3458	119	21	practical	practical	ADJ
fsr-3458	119	22	to	to	PART
fsr-3458	119	23	conclude	conclude	VERB
fsr-3458	119	24	that	that	SCONJ
fsr-3458	119	25	the	the	DET
fsr-3458	119	26	value	value	NOUN
fsr-3458	119	27	of	of	ADP
fsr-3458	119	28	financial	financial	ADJ
fsr-3458	119	29	advice	advice	NOUN
fsr-3458	119	30	varies	vary	VERB
fsr-3458	119	31	infinitely	infinitely	ADV
fsr-3458	119	32	with	with	ADP
fsr-3458	119	33	each	each	DET
fsr-3458	119	34	individual	individual	ADJ
fsr-3458	119	35	portfolio	portfolio	NOUN
fsr-3458	119	36	.	.	PUNCT
fsr-3458	120	1	an	an	DET
fsr-3458	120	2	advisor	advisor	NOUN
fsr-3458	120	3	would	would	AUX
fsr-3458	120	4	spend	spend	VERB
fsr-3458	120	5	far	far	ADV
fsr-3458	120	6	too	too	ADV
fsr-3458	120	7	much	much	ADJ
fsr-3458	120	8	time	time	NOUN
fsr-3458	120	9	creating	create	VERB
fsr-3458	120	10	fee	fee	NOUN
fsr-3458	120	11	schedules	schedule	NOUN
fsr-3458	120	12	if	if	SCONJ
fsr-3458	120	13	she	she	PRON
fsr-3458	120	14	tailored	tailor	VERB
fsr-3458	120	15	each	each	DET
fsr-3458	120	16	one	one	NUM
fsr-3458	120	17	according	accord	VERB
fsr-3458	120	18	to	to	ADP
fsr-3458	120	19	individual	individual	ADJ
fsr-3458	120	20	clients	client	NOUN
fsr-3458	120	21	’	’	PART
fsr-3458	120	22	asset	asset	NOUN
fsr-3458	120	23	mixes	mix	NOUN
fsr-3458	120	24	.	.	PUNCT
fsr-3458	121	1	instead	instead	ADV
fsr-3458	121	2	,	,	PUNCT
fsr-3458	121	3	it	it	PRON
fsr-3458	121	4	is	be	AUX
fsr-3458	121	5	appropriate	appropriate	ADJ
fsr-3458	121	6	to	to	PART
fsr-3458	121	7	base	base	VERB
fsr-3458	121	8	u	u	NOUN
fsr-3458	121	9	on	on	ADP
fsr-3458	121	10	some	some	DET
fsr-3458	121	11	characterization	characterization	NOUN
fsr-3458	121	12	of	of	ADP
fsr-3458	121	13	averages	average	NOUN
fsr-3458	121	14	or	or	CCONJ
fsr-3458	121	15	expected	expect	VERB
fsr-3458	121	16	outcomes	outcome	NOUN
fsr-3458	121	17	over	over	ADP
fsr-3458	121	18	time	time	NOUN
fsr-3458	121	19	.	.	PUNCT
fsr-3458	122	1	due	due	ADP
fsr-3458	122	2	to	to	ADP
fsr-3458	122	3	the	the	DET
fsr-3458	122	4	countless	countless	ADJ
fsr-3458	122	5	values	value	NOUN
fsr-3458	122	6	for	for	ADP
fsr-3458	122	7	the	the	DET
fsr-3458	122	8	nw	nw	PROPN
fsr-3458	122	9	fee	fee	NOUN
fsr-3458	122	10	schedule	schedule	NOUN
fsr-3458	122	11	u	u	NOUN
fsr-3458	122	12	,	,	PUNCT
fsr-3458	122	13	we	we	PRON
fsr-3458	122	14	conduct	conduct	VERB
fsr-3458	122	15	a	a	DET
fsr-3458	122	16	simulation	simulation	NOUN
fsr-3458	122	17	to	to	PART
fsr-3458	122	18	help	help	VERB
fsr-3458	122	19	us	we	PRON
fsr-3458	122	20	quantify	quantify	VERB
fsr-3458	122	21	one	one	NUM
fsr-3458	122	22	example	example	NOUN
fsr-3458	122	23	of	of	ADP
fsr-3458	122	24	such	such	DET
fsr-3458	122	25	an	an	DET
fsr-3458	122	26	acceptable	acceptable	ADJ
fsr-3458	122	27	schedule	schedule	NOUN
fsr-3458	122	28	.	.	PUNCT
fsr-3458	123	1	doing	do	VERB
fsr-3458	123	2	so	so	ADV
fsr-3458	123	3	in	in	ADP
fsr-3458	123	4	turn	turn	NOUN
fsr-3458	123	5	helps	help	VERB
fsr-3458	123	6	us	we	PRON
fsr-3458	123	7	calculate	calculate	VERB
fsr-3458	123	8	the	the	DET
fsr-3458	123	9	value	value	NOUN
fsr-3458	123	10	of	of	ADP
fsr-3458	123	11	financial	financial	ADJ
fsr-3458	123	12	advice	advice	NOUN
fsr-3458	123	13	in	in	ADP
fsr-3458	123	14	a	a	DET
fsr-3458	123	15	competitive	competitive	ADJ
fsr-3458	123	16	marketplace	marketplace	NOUN
fsr-3458	123	17	.	.	PUNCT
fsr-3458	124	1	the	the	DET
fsr-3458	124	2	nw	nw	PROPN
fsr-3458	124	3	and	and	CCONJ
fsr-3458	124	4	i	i	PRON
fsr-3458	124	5	m	m	VERB
fsr-3458	124	6	fees	fee	NOUN
fsr-3458	124	7	we	we	PRON
fsr-3458	124	8	introduce	introduce	VERB
fsr-3458	124	9	in	in	ADP
fsr-3458	124	10	the	the	DET
fsr-3458	124	11	cdfs	cdfs	PROPN
fsr-3458	124	12	both	both	PRON
fsr-3458	124	13	follow	follow	VERB
fsr-3458	124	14	a	a	DET
fsr-3458	124	15	parallel	parallel	ADJ
fsr-3458	124	16	,	,	PUNCT
fsr-3458	124	17	similar	similar	ADJ
fsr-3458	124	18	regressive	regressive	ADJ
fsr-3458	124	19	structure	structure	NOUN
fsr-3458	124	20	.	.	PUNCT
fsr-3458	125	1	much	much	ADV
fsr-3458	125	2	like	like	ADP
fsr-3458	125	3	many	many	ADJ
fsr-3458	125	4	fee	fee	NOUN
fsr-3458	125	5	-	-	PUNCT
fsr-3458	125	6	only	only	ADV
fsr-3458	125	7	or	or	CCONJ
fsr-3458	125	8	fee	fee	NOUN
fsr-3458	125	9	-	-	PUNCT
fsr-3458	125	10	based	base	VERB
fsr-3458	125	11	charges	charge	NOUN
fsr-3458	125	12	based	base	VERB
fsr-3458	125	13	on	on	ADP
fsr-3458	125	14	aum	aum	PROPN
fsr-3458	125	15	,	,	PUNCT
fsr-3458	125	16	both	both	DET
fsr-3458	125	17	fees	fee	NOUN
fsr-3458	125	18	here	here	ADV
fsr-3458	125	19	are	be	AUX
fsr-3458	125	20	charged	charge	VERB
fsr-3458	125	21	at	at	ADP
fsr-3458	125	22	lower	low	ADJ
fsr-3458	125	23	marginal	marginal	ADJ
fsr-3458	125	24	rates	rate	NOUN
fsr-3458	125	25	as	as	ADP
fsr-3458	125	26	the	the	DET
fsr-3458	125	27	benchmark	benchmark	NOUN
fsr-3458	125	28	(	(	PUNCT
fsr-3458	125	29	i.e.	i.e.	X
fsr-3458	125	30	,	,	PUNCT
fsr-3458	125	31	aum	aum	PROPN
fsr-3458	125	32	and	and	CCONJ
fsr-3458	125	33	nw	nw	NOUN
fsr-3458	125	34	)	)	PUNCT
fsr-3458	125	35	rises	rise	VERB
fsr-3458	125	36	.	.	PUNCT
fsr-3458	126	1	the	the	DET
fsr-3458	126	2	rate	rate	NOUN
fsr-3458	126	3	charged	charge	VERB
fsr-3458	126	4	for	for	ADP
fsr-3458	126	5	i	i	PROPN
fsr-3458	126	6	m	m	VERB
fsr-3458	126	7	increases	increase	NOUN
fsr-3458	126	8	at	at	ADP
fsr-3458	126	9	various	various	ADJ
fsr-3458	126	10	breakpoints	breakpoint	NOUN
fsr-3458	126	11	of	of	ADP
fsr-3458	126	12	aum	aum	PROPN
fsr-3458	126	13	.	.	PROPN
fsr-3458	126	14	for	for	ADP
fsr-3458	126	15	example	example	NOUN
fsr-3458	126	16	,	,	PUNCT
fsr-3458	126	17	the	the	DET
fsr-3458	126	18	i	i	PROPN
fsr-3458	126	19	m	m	PROPN
fsr-3458	126	20	fee	fee	NOUN
fsr-3458	126	21	might	might	AUX
fsr-3458	126	22	be	be	AUX
fsr-3458	126	23	50	50	NUM
fsr-3458	126	24	basis	basis	NOUN
fsr-3458	126	25	points	point	NOUN
fsr-3458	126	26	(	(	PUNCT
fsr-3458	126	27	bps	bps	NOUN
fsr-3458	126	28	)	)	PUNCT
fsr-3458	126	29	on	on	ADP
fsr-3458	126	30	the	the	DET
fsr-3458	126	31	first	first	ADJ
fsr-3458	126	32	$	$	SYM
fsr-3458	126	33	250,000	250,000	NUM
fsr-3458	126	34	of	of	ADP
fsr-3458	126	35	aum	aum	NOUN
fsr-3458	126	36	and	and	CCONJ
fsr-3458	126	37	decrease	decrease	NOUN
fsr-3458	126	38	as	as	SCONJ
fsr-3458	126	39	aum	aum	PROPN
fsr-3458	126	40	levels	level	NOUN
fsr-3458	126	41	rise	rise	VERB
fsr-3458	126	42	.	.	PUNCT
fsr-3458	127	1	this	this	DET
fsr-3458	127	2	rate	rate	NOUN
fsr-3458	127	3	is	be	AUX
fsr-3458	127	4	assumed	assume	VERB
fsr-3458	127	5	to	to	PART
fsr-3458	127	6	be	be	AUX
fsr-3458	127	7	charged	charge	VERB
fsr-3458	127	8	and	and	CCONJ
fsr-3458	127	9	collected	collect	VERB
fsr-3458	127	10	in	in	ADP
fsr-3458	127	11	perpetuity	perpetuity	NOUN
fsr-3458	127	12	if	if	SCONJ
fsr-3458	127	13	aum	aum	PROPN
fsr-3458	127	14	is	be	AUX
fsr-3458	127	15	under	under	ADP
fsr-3458	127	16	the	the	DET
fsr-3458	127	17	advisor	advisor	NOUN
fsr-3458	127	18	’s	’s	PART
fsr-3458	127	19	care	care	NOUN
fsr-3458	127	20	.	.	PUNCT
fsr-3458	128	1	doing	do	VERB
fsr-3458	128	2	so	so	ADV
fsr-3458	128	3	clearly	clearly	ADV
fsr-3458	128	4	aligns	align	VERB
fsr-3458	128	5	client	client	NOUN
fsr-3458	128	6	and	and	CCONJ
fsr-3458	128	7	planner	planner	NOUN
fsr-3458	128	8	interests	interest	NOUN
fsr-3458	128	9	by	by	ADP
fsr-3458	128	10	benefiting	benefit	VERB
fsr-3458	128	11	both	both	PRON
fsr-3458	128	12	when	when	SCONJ
fsr-3458	128	13	the	the	DET
fsr-3458	128	14	portfolio	portfolio	NOUN
fsr-3458	128	15	grows	grow	VERB
fsr-3458	128	16	,	,	PUNCT
fsr-3458	128	17	but	but	CCONJ
fsr-3458	128	18	it	it	PRON
fsr-3458	128	19	also	also	ADV
fsr-3458	128	20	recognizes	recognize	VERB
fsr-3458	128	21	the	the	DET
fsr-3458	128	22	decreasing	decrease	VERB
fsr-3458	128	23	marginal	marginal	ADJ
fsr-3458	128	24	effort	effort	NOUN
fsr-3458	128	25	for	for	ADP
fsr-3458	128	26	the	the	DET
fsr-3458	128	27	advisor	advisor	NOUN
fsr-3458	128	28	as	as	SCONJ
fsr-3458	128	29	the	the	DET
fsr-3458	128	30	portfolio	portfolio	NOUN
fsr-3458	128	31	grows	grow	VERB
fsr-3458	128	32	larger	large	ADJ
fsr-3458	128	33	.	.	PUNCT
fsr-3458	129	1	the	the	DET
fsr-3458	129	2	nw	nw	PROPN
fsr-3458	129	3	fee	fee	NOUN
fsr-3458	129	4	is	be	AUX
fsr-3458	129	5	similarly	similarly	ADV
fsr-3458	129	6	structured	structure	VERB
fsr-3458	129	7	,	,	PUNCT
fsr-3458	129	8	but	but	CCONJ
fsr-3458	129	9	instead	instead	ADV
fsr-3458	129	10	based	base	VERB
fsr-3458	129	11	on	on	ADP
fsr-3458	129	12	the	the	DET
fsr-3458	129	13	client	client	NOUN
fsr-3458	129	14	’s	’s	PART
fsr-3458	129	15	net	net	ADJ
fsr-3458	129	16	worth	worth	NOUN
fsr-3458	129	17	.	.	PUNCT
fsr-3458	130	1	we	we	PRON
fsr-3458	130	2	further	far	ADV
fsr-3458	130	3	suggest	suggest	VERB
fsr-3458	130	4	that	that	SCONJ
fsr-3458	130	5	the	the	DET
fsr-3458	130	6	effort	effort	NOUN
fsr-3458	130	7	involved	involve	VERB
fsr-3458	130	8	in	in	ADP
fsr-3458	130	9	financial	financial	ADJ
fsr-3458	130	10	planning	planning	NOUN
fsr-3458	130	11	is	be	AUX
fsr-3458	130	12	not	not	PART
fsr-3458	130	13	uniform	uniform	ADJ
fsr-3458	130	14	over	over	ADP
fsr-3458	130	15	time	time	NOUN
fsr-3458	130	16	.	.	PUNCT
fsr-3458	131	1	for	for	ADP
fsr-3458	131	2	financial	financial	ADJ
fsr-3458	131	3	advisors	advisor	NOUN
fsr-3458	131	4	who	who	PRON
fsr-3458	131	5	practice	practice	VERB
fsr-3458	131	6	comprehensive	comprehensive	ADJ
fsr-3458	131	7	financial	financial	ADJ
fsr-3458	131	8	planning	planning	NOUN
fsr-3458	131	9	,	,	PUNCT
fsr-3458	131	10	the	the	DET
fsr-3458	131	11	initial	initial	ADJ
fsr-3458	131	12	workload	workload	NOUN
fsr-3458	131	13	involved	involve	VERB
fsr-3458	131	14	with	with	ADP
fsr-3458	131	15	a	a	DET
fsr-3458	131	16	new	new	ADJ
fsr-3458	131	17	client	client	NOUN
fsr-3458	131	18	is	be	AUX
fsr-3458	131	19	significantly	significantly	ADV
fsr-3458	131	20	more	more	ADV
fsr-3458	131	21	demanding	demanding	ADJ
fsr-3458	131	22	in	in	ADP
fsr-3458	131	23	the	the	DET
fsr-3458	131	24	first	first	ADJ
fsr-3458	131	25	year	year	NOUN
fsr-3458	131	26	as	as	SCONJ
fsr-3458	131	27	the	the	DET
fsr-3458	131	28	planner	planner	NOUN
fsr-3458	131	29	develops	develop	VERB
fsr-3458	131	30	a	a	DET
fsr-3458	131	31	way	way	NOUN
fsr-3458	131	32	forward	forward	ADV
fsr-3458	131	33	for	for	ADP
fsr-3458	131	34	a	a	DET
fsr-3458	131	35	client	client	NOUN
fsr-3458	131	36	across	across	ADP
fsr-3458	131	37	all	all	DET
fsr-3458	131	38	the	the	DET
fsr-3458	131	39	financial	financial	ADJ
fsr-3458	131	40	planning	planning	NOUN
fsr-3458	131	41	areas	area	NOUN
fsr-3458	131	42	(	(	PUNCT
fsr-3458	131	43	e.g.	e.g.	ADV
fsr-3458	131	44	,	,	PUNCT
fsr-3458	131	45	cash	cash	NOUN
fsr-3458	131	46	flows	flow	NOUN
fsr-3458	131	47	and	and	CCONJ
fsr-3458	131	48	debt	debt	NOUN
fsr-3458	131	49	service	service	NOUN
fsr-3458	131	50	,	,	PUNCT
fsr-3458	131	51	risk	risk	NOUN
fsr-3458	131	52	and	and	CCONJ
fsr-3458	131	53	insurance	insurance	NOUN
fsr-3458	131	54	,	,	PUNCT
fsr-3458	131	55	investment	investment	NOUN
fsr-3458	131	56	,	,	PUNCT
fsr-3458	131	57	tax	tax	NOUN
fsr-3458	131	58	,	,	PUNCT
fsr-3458	131	59	and	and	CCONJ
fsr-3458	131	60	estate	estate	NOUN
fsr-3458	131	61	planning	planning	NOUN
fsr-3458	131	62	)	)	PUNCT
fsr-3458	131	63	.	.	PUNCT
fsr-3458	132	1	to	to	PART
fsr-3458	132	2	account	account	VERB
fsr-3458	132	3	for	for	ADP
fsr-3458	132	4	this	this	DET
fsr-3458	132	5	non	non	ADJ
fsr-3458	132	6	-	-	ADJ
fsr-3458	132	7	linear	linear	ADJ
fsr-3458	132	8	workflow	workflow	NOUN
fsr-3458	132	9	,	,	PUNCT
fsr-3458	132	10	we	we	PRON
fsr-3458	132	11	assume	assume	VERB
fsr-3458	132	12	the	the	DET
fsr-3458	132	13	full	full	ADJ
fsr-3458	132	14	initial	initial	ADJ
fsr-3458	132	15	financial	financial	ADJ
fsr-3458	132	16	planning	planning	NOUN
fsr-3458	132	17	fee	fee	NOUN
fsr-3458	132	18	is	be	AUX
fsr-3458	132	19	charged	charge	VERB
fsr-3458	132	20	the	the	DET
fsr-3458	132	21	first	first	ADJ
fsr-3458	132	22	year	year	NOUN
fsr-3458	132	23	at	at	ADP
fsr-3458	132	24	the	the	DET
fsr-3458	132	25	scheduled	schedule	VERB
fsr-3458	132	26	rate	rate	NOUN
fsr-3458	132	27	.	.	PUNCT
fsr-3458	133	1	subsequent	subsequent	ADJ
fsr-3458	133	2	years	year	NOUN
fsr-3458	133	3	are	be	AUX
fsr-3458	133	4	charged	charge	VERB
fsr-3458	133	5	at	at	ADP
fsr-3458	133	6	a	a	DET
fsr-3458	133	7	reduced	reduce	VERB
fsr-3458	133	8	rate	rate	NOUN
fsr-3458	133	9	;	;	PUNCT
fsr-3458	133	10	this	this	DET
fsr-3458	133	11	analysis	analysis	NOUN
fsr-3458	133	12	uses	use	VERB
fsr-3458	133	13	a	a	DET
fsr-3458	133	14	rate	rate	NOUN
fsr-3458	133	15	that	that	PRON
fsr-3458	133	16	is	be	AUX
fsr-3458	133	17	one	one	NUM
fsr-3458	133	18	-	-	PUNCT
fsr-3458	133	19	half	half	NOUN
fsr-3458	133	20	the	the	DET
fsr-3458	133	21	bps	bps	NOUN
fsr-3458	133	22	rate	rate	NOUN
fsr-3458	133	23	used	use	VERB
fsr-3458	133	24	the	the	DET
fsr-3458	133	25	first	first	ADJ
fsr-3458	133	26	year	year	NOUN
fsr-3458	133	27	in	in	ADP
fsr-3458	133	28	our	our	PRON
fsr-3458	133	29	initial	initial	ADJ
fsr-3458	133	30	illustration	illustration	NOUN
fsr-3458	133	31	.	.	PUNCT
fsr-3458	134	1	this	this	DET
fsr-3458	134	2	approach	approach	NOUN
fsr-3458	134	3	allows	allow	VERB
fsr-3458	134	4	the	the	DET
fsr-3458	134	5	client	client	NOUN
fsr-3458	134	6	to	to	PART
fsr-3458	134	7	pay	pay	VERB
fsr-3458	134	8	directly	directly	ADV
fsr-3458	134	9	for	for	ADP
fsr-3458	134	10	financial	financial	ADJ
fsr-3458	134	11	planning	planning	NOUN
fsr-3458	134	12	and	and	CCONJ
fsr-3458	134	13	to	to	PART
fsr-3458	134	14	see	see	VERB
fsr-3458	134	15	how	how	SCONJ
fsr-3458	134	16	much	much	ADJ
fsr-3458	134	17	they	they	PRON
fsr-3458	134	18	are	be	AUX
fsr-3458	134	19	paying	pay	VERB
fsr-3458	134	20	for	for	ADP
fsr-3458	134	21	that	that	DET
fsr-3458	134	22	support	support	NOUN
fsr-3458	134	23	initially	initially	ADV
fsr-3458	134	24	(	(	PUNCT
fsr-3458	134	25	and	and	CCONJ
fsr-3458	134	26	over	over	ADP
fsr-3458	134	27	time	time	NOUN
fsr-3458	134	28	if	if	SCONJ
fsr-3458	134	29	they	they	PRON
fsr-3458	134	30	choose	choose	VERB
fsr-3458	134	31	to	to	PART
fsr-3458	134	32	do	do	VERB
fsr-3458	134	33	so	so	ADV
fsr-3458	134	34	)	)	PUNCT
fsr-3458	134	35	while	while	SCONJ
fsr-3458	134	36	remaining	remain	VERB
fsr-3458	134	37	independent	independent	ADJ
fsr-3458	134	38	of	of	ADP
fsr-3458	134	39	i	i	PRON
fsr-3458	134	40	m	m	PROPN
fsr-3458	134	41	fees	fee	NOUN
fsr-3458	134	42	.	.	PUNCT
fsr-3458	135	1	the	the	DET
fsr-3458	135	2	percentage	percentage	NOUN
fsr-3458	135	3	reduction	reduction	NOUN
fsr-3458	135	4	of	of	ADP
fsr-3458	135	5	the	the	DET
fsr-3458	135	6	planning	planning	NOUN
fsr-3458	135	7	fee	fee	NOUN
fsr-3458	135	8	during	during	ADP
fsr-3458	135	9	subsequent	subsequent	ADJ
fsr-3458	135	10	time	time	NOUN
fsr-3458	135	11	periods	period	NOUN
fsr-3458	135	12	is	be	AUX
fsr-3458	135	13	just	just	ADV
fsr-3458	135	14	one	one	NUM
fsr-3458	135	15	“	"	PUNCT
fsr-3458	135	16	lever	lever	NOUN
fsr-3458	135	17	”	"	PUNCT
fsr-3458	135	18	that	that	PRON
fsr-3458	135	19	can	can	AUX
fsr-3458	135	20	be	be	AUX
fsr-3458	135	21	adjusted	adjust	VERB
fsr-3458	135	22	by	by	ADP
fsr-3458	135	23	individual	individual	ADJ
fsr-3458	135	24	planners	planner	NOUN
fsr-3458	135	25	/	/	SYM
fsr-3458	135	26	firms	firm	NOUN
fsr-3458	135	27	based	base	VERB
fsr-3458	135	28	on	on	ADP
fsr-3458	135	29	the	the	DET
fsr-3458	135	30	level	level	NOUN
fsr-3458	135	31	and	and	CCONJ
fsr-3458	135	32	complexity	complexity	NOUN
fsr-3458	135	33	of	of	ADP
fsr-3458	135	34	planning	planning	NOUN
fsr-3458	135	35	services	service	NOUN
fsr-3458	135	36	offered	offer	VERB
fsr-3458	135	37	.	.	PUNCT
fsr-3458	136	1	this	this	DET
fsr-3458	136	2	decomposition	decomposition	NOUN
fsr-3458	136	3	of	of	ADP
fsr-3458	136	4	fees	fee	NOUN
fsr-3458	136	5	also	also	ADV
fsr-3458	136	6	allows	allow	VERB
fsr-3458	136	7	the	the	DET
fsr-3458	136	8	planner	planner	NOUN
fsr-3458	136	9	to	to	PART
fsr-3458	136	10	charge	charge	VERB
fsr-3458	136	11	a	a	PRON
fsr-3458	136	12	lower	low	ADJ
fsr-3458	136	13	,	,	PUNCT
fsr-3458	136	14	more	more	ADJ
fsr-3458	136	15	market	market	NOUN
fsr-3458	136	16	competitive	competitive	ADJ
fsr-3458	136	17	im	im	ADJ
fsr-3458	136	18	-	-	PUNCT
fsr-3458	136	19	only	only	ADJ
fsr-3458	136	20	fee	fee	NOUN
fsr-3458	136	21	.	.	PUNCT
fsr-3458	137	1	our	our	PRON
fsr-3458	137	2	simulation	simulation	NOUN
fsr-3458	137	3	sets	set	VERB
fsr-3458	137	4	the	the	DET
fsr-3458	137	5	value	value	NOUN
fsr-3458	137	6	of	of	ADP
fsr-3458	137	7	financial	financial	ADJ
fsr-3458	137	8	planning	planning	NOUN
fsr-3458	137	9	(	(	PUNCT
fsr-3458	137	10	the	the	DET
fsr-3458	137	11	nw	nw	PROPN
fsr-3458	137	12	fee	fee	NOUN
fsr-3458	137	13	,	,	PUNCT
fsr-3458	137	14	or	or	CCONJ
fsr-3458	137	15	u	u	NOUN
fsr-3458	137	16	j	j	PROPN
fsr-3458	137	17	)	)	PUNCT
fsr-3458	137	18	as	as	ADP
fsr-3458	137	19	the	the	DET
fsr-3458	137	20	delta	delta	NOUN
fsr-3458	137	21	between	between	ADP
fsr-3458	137	22	the	the	DET
fsr-3458	137	23	“	"	PUNCT
fsr-3458	137	24	all	all	ADV
fsr-3458	137	25	-	-	PUNCT
fsr-3458	137	26	in	in	NOUN
fsr-3458	137	27	,	,	PUNCT
fsr-3458	137	28	”	"	PUNCT
fsr-3458	137	29	single	single	ADJ
fsr-3458	137	30	,	,	PUNCT
fsr-3458	137	31	aum	aum	PROPN
fsr-3458	137	32	model	model	NOUN
fsr-3458	137	33	fee	fee	NOUN
fsr-3458	137	34	(	(	PUNCT
fsr-3458	137	35	v	v	NOUN
fsr-3458	137	36	j	j	NOUN
fsr-3458	137	37	)	)	PUNCT
fsr-3458	137	38	,	,	PUNCT
fsr-3458	137	39	and	and	CCONJ
fsr-3458	137	40	the	the	DET
fsr-3458	137	41	emerging	emerge	VERB
fsr-3458	137	42	robo	robo	NOUN
fsr-3458	137	43	-	-	PUNCT
fsr-3458	137	44	advisor	advisor	NOUN
fsr-3458	137	45	im	im	ADV
fsr-3458	137	46	-	-	PUNCT
fsr-3458	137	47	only	only	ADJ
fsr-3458	137	48	fee	fee	NOUN
fsr-3458	137	49	(	(	PUNCT
fsr-3458	137	50	w	w	PROPN
fsr-3458	137	51	j	j	PROPN
fsr-3458	137	52	)	)	PUNCT
fsr-3458	137	53	.	.	PUNCT
fsr-3458	138	1	we	we	PRON
fsr-3458	138	2	evaluate	evaluate	VERB
fsr-3458	138	3	the	the	DET
fsr-3458	138	4	impact	impact	NOUN
fsr-3458	138	5	of	of	ADP
fsr-3458	138	6	these	these	DET
fsr-3458	138	7	assumptions	assumption	NOUN
fsr-3458	138	8	over	over	ADP
fsr-3458	138	9	time	time	NOUN
fsr-3458	138	10	,	,	PUNCT
fsr-3458	138	11	and	and	CCONJ
fsr-3458	138	12	as	as	ADV
fsr-3458	138	13	importantly	importantly	ADV
fsr-3458	138	14	,	,	PUNCT
fsr-3458	138	15	the	the	DET
fsr-3458	138	16	analysis	analysis	NOUN
fsr-3458	138	17	here	here	ADV
fsr-3458	138	18	identifies	identify	VERB
fsr-3458	138	19	these	these	DET
fsr-3458	138	20	“	"	PUNCT
fsr-3458	138	21	levers	lever	NOUN
fsr-3458	138	22	”	"	PUNCT
fsr-3458	138	23	that	that	SCONJ
fsr-3458	138	24	firms	firm	NOUN
fsr-3458	138	25	and	and	CCONJ
fsr-3458	138	26	advisors	advisor	NOUN
fsr-3458	138	27	may	may	AUX
fsr-3458	138	28	adjust	adjust	VERB
fsr-3458	138	29	for	for	ADP
fsr-3458	138	30	their	their	PRON
fsr-3458	138	31	specific	specific	ADJ
fsr-3458	138	32	practices	practice	NOUN
fsr-3458	138	33	.	.	PUNCT
fsr-3458	139	1	in	in	ADP
fsr-3458	139	2	addition	addition	NOUN
fsr-3458	139	3	to	to	ADP
fsr-3458	139	4	the	the	DET
fsr-3458	139	5	degree	degree	NOUN
fsr-3458	139	6	of	of	ADP
fsr-3458	139	7	the	the	DET
fsr-3458	139	8	reduction	reduction	NOUN
fsr-3458	139	9	of	of	ADP
fsr-3458	139	10	the	the	DET
fsr-3458	139	11	nw	nw	PROPN
fsr-3458	139	12	fee	fee	NOUN
fsr-3458	139	13	in	in	ADP
fsr-3458	139	14	subsequent	subsequent	ADJ
fsr-3458	139	15	years	year	NOUN
fsr-3458	139	16	,	,	PUNCT
fsr-3458	139	17	an	an	DET
fsr-3458	139	18	additional	additional	ADJ
fsr-3458	139	19	lever	lever	NOUN
fsr-3458	139	20	is	be	AUX
fsr-3458	139	21	the	the	DET
fsr-3458	139	22	determination	determination	NOUN
fsr-3458	139	23	of	of	ADP
fsr-3458	139	24	the	the	DET
fsr-3458	139	25	level	level	NOUN
fsr-3458	139	26	of	of	ADP
fsr-3458	139	27	the	the	DET
fsr-3458	139	28	individual	individual	ADJ
fsr-3458	139	29	fees	fee	NOUN
fsr-3458	139	30	(	(	PUNCT
fsr-3458	139	31	and	and	CCONJ
fsr-3458	139	32	breakpoints	breakpoint	NOUN
fsr-3458	139	33	)	)	PUNCT
fsr-3458	139	34	charged	charge	VERB
fsr-3458	139	35	for	for	ADP
fsr-3458	139	36	each	each	DET
fsr-3458	139	37	component	component	NOUN
fsr-3458	139	38	of	of	ADP
fsr-3458	139	39	the	the	DET
fsr-3458	139	40	cdfs	cdfs	PROPN
fsr-3458	139	41	.	.	PUNCT
fsr-3458	139	42	table	table	NOUN
fsr-3458	139	43	1	1	NUM
fsr-3458	139	44	shows	show	VERB
fsr-3458	139	45	the	the	DET
fsr-3458	139	46	nw	nw	PROPN
fsr-3458	139	47	,	,	PUNCT
fsr-3458	139	48	i	i	PRON
fsr-3458	139	49	m	m	PROPN
fsr-3458	139	50	,	,	PUNCT
fsr-3458	139	51	and	and	CCONJ
fsr-3458	139	52	aum	aum	PROPN
fsr-3458	139	53	breakpoints	breakpoint	NOUN
fsr-3458	139	54	and	and	CCONJ
fsr-3458	139	55	regressive	regressive	ADJ
fsr-3458	139	56	fee	fee	NOUN
fsr-3458	139	57	structure	structure	NOUN
fsr-3458	139	58	,	,	PUNCT
fsr-3458	139	59	respectively	respectively	ADV
fsr-3458	139	60	,	,	PUNCT
fsr-3458	139	61	for	for	ADP
fsr-3458	139	62	both	both	CCONJ
fsr-3458	139	63	the	the	DET
fsr-3458	139	64	dual	dual	ADJ
fsr-3458	139	65	fee	fee	NOUN
fsr-3458	139	66	cdfs	cdfs	PROPN
fsr-3458	139	67	(	(	PUNCT
fsr-3458	139	68	that	that	PRON
fsr-3458	139	69	includes	include	VERB
fsr-3458	139	70	nw	nw	PROPN
fsr-3458	139	71	and	and	CCONJ
fsr-3458	139	72	i	i	NOUN
fsr-3458	139	73	m	m	PROPN
fsr-3458	139	74	)	)	PUNCT
fsr-3458	139	75	and	and	CCONJ
fsr-3458	139	76	the	the	DET
fsr-3458	139	77	single	single	ADJ
fsr-3458	139	78	fee	fee	NOUN
fsr-3458	139	79	-	-	PUNCT
fsr-3458	139	80	only	only	ADV
fsr-3458	139	81	(	(	PUNCT
fsr-3458	139	82	aum	aum	NOUN
fsr-3458	139	83	)	)	PUNCT
fsr-3458	139	84	structures	structure	NOUN
fsr-3458	139	85	analyzed	analyze	VERB
fsr-3458	139	86	here	here	ADV
fsr-3458	139	87	.	.	PUNCT
fsr-3458	140	1	the	the	DET
fsr-3458	140	2	setup	setup	NOUN
fsr-3458	140	3	is	be	AUX
fsr-3458	140	4	basic	basic	ADJ
fsr-3458	140	5	and	and	CCONJ
fsr-3458	140	6	straightforward	straightforward	ADJ
fsr-3458	140	7	,	,	PUNCT
fsr-3458	140	8	yet	yet	CCONJ
fsr-3458	140	9	it	it	PRON
fsr-3458	140	10	provides	provide	VERB
fsr-3458	140	11	sufficient	sufficient	ADJ
fsr-3458	140	12	insights	insight	NOUN
fsr-3458	140	13	that	that	PRON
fsr-3458	140	14	generalize	generalize	VERB
fsr-3458	140	15	to	to	ADP
fsr-3458	140	16	fee	fee	NOUN
fsr-3458	140	17	structures	structure	NOUN
fsr-3458	140	18	with	with	ADP
fsr-3458	140	19	more	more	ADJ
fsr-3458	140	20	complexity	complexity	NOUN
fsr-3458	140	21	(	(	PUNCT
fsr-3458	140	22	e.g.	e.g.	ADV
fsr-3458	140	23	,	,	PUNCT
fsr-3458	140	24	breakpoints	breakpoint	NOUN
fsr-3458	140	25	)	)	PUNCT
fsr-3458	140	26	.	.	PUNCT
fsr-3458	141	1	the	the	DET
fsr-3458	141	2	values	value	NOUN
fsr-3458	141	3	for	for	ADP
fsr-3458	141	4	the	the	DET
fsr-3458	141	5	i	i	PROPN
fsr-3458	141	6	m	m	PROPN
fsr-3458	141	7	component	component	NOUN
fsr-3458	141	8	recognize	recognize	VERB
fsr-3458	141	9	that	that	SCONJ
fsr-3458	141	10	in	in	ADP
fsr-3458	141	11	a	a	DET
fsr-3458	141	12	competitive	competitive	ADJ
fsr-3458	141	13	market	market	NOUN
fsr-3458	141	14	there	there	PRON
fsr-3458	141	15	is	be	VERB
fsr-3458	141	16	a	a	DET
fsr-3458	141	17	base	base	NOUN
fsr-3458	141	18	cost	cost	NOUN
fsr-3458	141	19	for	for	ADP
fsr-3458	141	20	advisors	advisor	NOUN
fsr-3458	141	21	to	to	PART
fsr-3458	141	22	profitably	profitably	ADV
fsr-3458	141	23	manage	manage	VERB
fsr-3458	141	24	investable	investable	ADJ
fsr-3458	141	25	assets	asset	NOUN
fsr-3458	141	26	.	.	PUNCT
fsr-3458	142	1	fortunately	fortunately	ADV
fsr-3458	142	2	,	,	PUNCT
fsr-3458	142	3	the	the	DET
fsr-3458	142	4	advent	advent	NOUN
fsr-3458	142	5	of	of	ADP
fsr-3458	142	6	so	so	ADV
fsr-3458	142	7	-	-	PUNCT
fsr-3458	142	8	called	call	VERB
fsr-3458	142	9	roboadvisors	roboadvisor	NOUN
fsr-3458	142	10	have	have	AUX
fsr-3458	142	11	revealed	reveal	VERB
fsr-3458	142	12	that	that	SCONJ
fsr-3458	142	13	these	these	DET
fsr-3458	142	14	costs	cost	NOUN
fsr-3458	142	15	can	can	AUX
fsr-3458	142	16	be	be	AUX
fsr-3458	142	17	relatively	relatively	ADV
fsr-3458	142	18	low	low	ADJ
fsr-3458	142	19	.	.	PUNCT
fsr-3458	143	1	a	a	DET
fsr-3458	143	2	brief	brief	ADJ
fsr-3458	143	3	survey	survey	NOUN
fsr-3458	143	4	of	of	ADP
fsr-3458	143	5	multiple	multiple	ADJ
fsr-3458	143	6	232	232	NUM
fsr-3458	143	7	s.	s.	PROPN
fsr-3458	143	8	p.	p.	PROPN
fsr-3458	143	9	fraser	fraser	PROPN
fsr-3458	144	1	et	et	PROPN
fsr-3458	145	1	al	al	PROPN
fsr-3458	145	2	.	.	PUNCT
fsr-3458	145	3	/	/	SYM
fsr-3458	145	4	financial	financial	ADJ
fsr-3458	145	5	services	service	NOUN
fsr-3458	145	6	review	review	VERB
fsr-3458	145	7	29	29	NUM
fsr-3458	145	8	(	(	PUNCT
fsr-3458	145	9	2021	2021	NUM
fsr-3458	145	10	)	)	PUNCT
fsr-3458	146	1	227–245	227–245	NUM
fsr-3458	146	2	robo	robo	NOUN
fsr-3458	146	3	-	-	PUNCT
fsr-3458	146	4	advisors	advisor	NOUN
fsr-3458	146	5	shows	show	VERB
fsr-3458	146	6	a	a	DET
fsr-3458	146	7	range	range	NOUN
fsr-3458	146	8	of	of	ADP
fsr-3458	146	9	fees	fee	NOUN
fsr-3458	146	10	from	from	ADP
fsr-3458	146	11	$	$	SYM
fsr-3458	146	12	0	0	NUM
fsr-3458	146	13	(	(	PUNCT
fsr-3458	146	14	“	"	PUNCT
fsr-3458	146	15	free	free	ADJ
fsr-3458	146	16	”	"	PUNCT
fsr-3458	146	17	)	)	PUNCT
fsr-3458	146	18	to	to	ADP
fsr-3458	146	19	almost	almost	ADV
fsr-3458	146	20	90	90	NUM
fsr-3458	146	21	bps	bps	NOUN
fsr-3458	146	22	annually	annually	ADV
fsr-3458	146	23	.	.	PUNCT
fsr-3458	147	1	there	there	PRON
fsr-3458	147	2	are	be	VERB
fsr-3458	147	3	many	many	ADJ
fsr-3458	147	4	factors	factor	NOUN
fsr-3458	147	5	in	in	ADP
fsr-3458	147	6	play	play	NOUN
fsr-3458	147	7	when	when	SCONJ
fsr-3458	147	8	setting	set	VERB
fsr-3458	147	9	these	these	DET
fsr-3458	147	10	fees	fee	NOUN
fsr-3458	147	11	.	.	PUNCT
fsr-3458	148	1	for	for	ADP
fsr-3458	148	2	example	example	NOUN
fsr-3458	148	3	,	,	PUNCT
fsr-3458	148	4	charles	charles	PROPN
fsr-3458	148	5	schwab	schwab	PROPN
fsr-3458	148	6	inc	inc	PROPN
fsr-3458	148	7	.	.	PROPN
fsr-3458	148	8	,	,	PUNCT
fsr-3458	148	9	which	which	PRON
fsr-3458	148	10	offers	offer	VERB
fsr-3458	148	11	free	free	ADJ
fsr-3458	148	12	advisory	advisory	ADJ
fsr-3458	148	13	services	service	NOUN
fsr-3458	148	14	,	,	PUNCT
fsr-3458	148	15	mandates	mandate	VERB
fsr-3458	148	16	its	its	PRON
fsr-3458	148	17	recommended	recommend	VERB
fsr-3458	148	18	portfolios	portfolio	NOUN
fsr-3458	148	19	contain	contain	VERB
fsr-3458	148	20	non	non	ADJ
fsr-3458	148	21	-	-	ADJ
fsr-3458	148	22	trivial	trivial	ADJ
fsr-3458	148	23	cash	cash	NOUN
fsr-3458	148	24	positions	position	NOUN
fsr-3458	148	25	that	that	SCONJ
fsr-3458	148	26	the	the	DET
fsr-3458	148	27	firm	firm	NOUN
fsr-3458	148	28	then	then	ADV
fsr-3458	148	29	uses	use	VERB
fsr-3458	148	30	to	to	PART
fsr-3458	148	31	generate	generate	VERB
fsr-3458	148	32	“	"	PUNCT
fsr-3458	148	33	fees	fee	NOUN
fsr-3458	148	34	”	"	PUNCT
fsr-3458	148	35	from	from	ADP
fsr-3458	148	36	the	the	DET
fsr-3458	148	37	spread	spread	NOUN
fsr-3458	148	38	between	between	ADP
fsr-3458	148	39	the	the	DET
fsr-3458	148	40	rates	rate	NOUN
fsr-3458	148	41	paid	pay	VERB
fsr-3458	148	42	on	on	ADP
fsr-3458	148	43	this	this	DET
fsr-3458	148	44	cash	cash	NOUN
fsr-3458	148	45	and	and	CCONJ
fsr-3458	148	46	what	what	PRON
fsr-3458	148	47	the	the	DET
fsr-3458	148	48	firm	firm	NOUN
fsr-3458	148	49	can	can	AUX
fsr-3458	148	50	charge	charge	VERB
fsr-3458	148	51	to	to	PART
fsr-3458	148	52	lend	lend	VERB
fsr-3458	148	53	the	the	DET
fsr-3458	148	54	funds	fund	NOUN
fsr-3458	148	55	.	.	PUNCT
fsr-3458	149	1	brenner	brenner	NOUN
fsr-3458	149	2	and	and	CCONJ
fsr-3458	149	3	meyll	meyll	NOUN
fsr-3458	149	4	(	(	PUNCT
fsr-3458	149	5	2020	2020	NUM
fsr-3458	149	6	)	)	PUNCT
fsr-3458	149	7	suggest	suggest	VERB
fsr-3458	149	8	robo	robo	NOUN
fsr-3458	149	9	-	-	PUNCT
fsr-3458	149	10	advisors	advisor	NOUN
fsr-3458	149	11	are	be	AUX
fsr-3458	149	12	a	a	DET
fsr-3458	149	13	valid	valid	ADJ
fsr-3458	149	14	alternative	alternative	NOUN
fsr-3458	149	15	for	for	ADP
fsr-3458	149	16	investment	investment	NOUN
fsr-3458	149	17	advice	advice	NOUN
fsr-3458	149	18	.	.	PUNCT
fsr-3458	150	1	overall	overall	ADJ
fsr-3458	150	2	,	,	PUNCT
fsr-3458	150	3	the	the	DET
fsr-3458	150	4	non	non	ADJ
fsr-3458	150	5	-	-	ADJ
fsr-3458	150	6	scientific	scientific	ADJ
fsr-3458	150	7	middle	middle	NOUN
fsr-3458	150	8	of	of	ADP
fsr-3458	150	9	the	the	DET
fsr-3458	150	10	range	range	NOUN
fsr-3458	150	11	for	for	ADP
fsr-3458	150	12	im	im	ADV
fsr-3458	150	13	-	-	PUNCT
fsr-3458	150	14	only	only	ADJ
fsr-3458	150	15	fees	fee	NOUN
fsr-3458	150	16	appears	appear	VERB
fsr-3458	150	17	to	to	PART
fsr-3458	150	18	be	be	AUX
fsr-3458	150	19	approximately	approximately	ADV
fsr-3458	150	20	40	40	NUM
fsr-3458	150	21	bps	bps	NOUN
fsr-3458	150	22	.	.	PUNCT
fsr-3458	151	1	we	we	PRON
fsr-3458	151	2	subjectively	subjectively	ADV
fsr-3458	151	3	assess	assess	VERB
fsr-3458	151	4	an	an	DET
fsr-3458	151	5	additional	additional	ADJ
fsr-3458	151	6	10	10	NUM
fsr-3458	151	7	bps	bps	NOUN
fsr-3458	151	8	on	on	ADP
fsr-3458	151	9	smaller	small	ADJ
fsr-3458	151	10	investment	investment	NOUN
fsr-3458	151	11	portfolios	portfolio	NOUN
fsr-3458	151	12	(	(	PUNCT
fsr-3458	151	13	below	below	ADP
fsr-3458	151	14	$	$	SYM
fsr-3458	151	15	250,000	250,000	NUM
fsr-3458	151	16	)	)	PUNCT
fsr-3458	151	17	to	to	PART
fsr-3458	151	18	recognize	recognize	VERB
fsr-3458	151	19	the	the	DET
fsr-3458	151	20	lack	lack	NOUN
fsr-3458	151	21	of	of	ADP
fsr-3458	151	22	scale	scale	NOUN
fsr-3458	151	23	for	for	ADP
fsr-3458	151	24	a	a	DET
fsr-3458	151	25	typical	typical	ADJ
fsr-3458	151	26	individual	individual	ADJ
fsr-3458	151	27	planner	planner	NOUN
fsr-3458	151	28	,	,	PUNCT
fsr-3458	151	29	which	which	PRON
fsr-3458	151	30	is	be	AUX
fsr-3458	151	31	supported	support	VERB
fsr-3458	151	32	by	by	ADP
fsr-3458	151	33	uhl	uhl	PROPN
fsr-3458	151	34	and	and	CCONJ
fsr-3458	151	35	rohner	rohner	NOUN
fsr-3458	151	36	(	(	PUNCT
fsr-3458	151	37	2018	2018	NUM
fsr-3458	151	38	)	)	PUNCT
fsr-3458	151	39	.	.	PUNCT
fsr-3458	152	1	per	per	ADP
fsr-3458	152	2	the	the	DET
fsr-3458	152	3	regressive	regressive	ADJ
fsr-3458	152	4	approach	approach	NOUN
fsr-3458	152	5	,	,	PUNCT
fsr-3458	152	6	we	we	PRON
fsr-3458	152	7	reduce	reduce	VERB
fsr-3458	152	8	the	the	DET
fsr-3458	152	9	bps	bps	NOUN
fsr-3458	152	10	fees	fee	NOUN
fsr-3458	152	11	by	by	ADP
fsr-3458	152	12	10	10	NUM
fsr-3458	152	13	bps	bps	NOUN
fsr-3458	152	14	as	as	SCONJ
fsr-3458	152	15	the	the	DET
fsr-3458	152	16	i	i	PROPN
fsr-3458	152	17	m	m	PROPN
fsr-3458	152	18	portfolio	portfolio	NOUN
fsr-3458	152	19	grows	grow	VERB
fsr-3458	152	20	above	above	ADP
fsr-3458	152	21	$	$	SYM
fsr-3458	152	22	2	2	NUM
fsr-3458	152	23	million	million	NUM
fsr-3458	152	24	and	and	CCONJ
fsr-3458	152	25	has	have	VERB
fsr-3458	152	26	the	the	DET
fsr-3458	152	27	lowest	low	ADJ
fsr-3458	152	28	marginal	marginal	ADJ
fsr-3458	152	29	i	i	PROPN
fsr-3458	152	30	m	m	PROPN
fsr-3458	152	31	fee	fee	NOUN
fsr-3458	152	32	at	at	ADP
fsr-3458	152	33	30	30	NUM
fsr-3458	152	34	bps	bps	NOUN
fsr-3458	152	35	for	for	ADP
fsr-3458	152	36	this	this	DET
fsr-3458	152	37	example	example	NOUN
fsr-3458	152	38	.	.	PUNCT
fsr-3458	153	1	in	in	ADP
fsr-3458	153	2	all	all	DET
fsr-3458	153	3	cases	case	NOUN
fsr-3458	153	4	the	the	DET
fsr-3458	153	5	“	"	PUNCT
fsr-3458	153	6	fee	fee	NOUN
fsr-3458	153	7	on	on	ADP
fsr-3458	153	8	max	max	PROPN
fsr-3458	153	9	”	"	PUNCT
fsr-3458	153	10	value	value	NOUN
fsr-3458	153	11	is	be	AUX
fsr-3458	153	12	simply	simply	ADV
fsr-3458	153	13	the	the	DET
fsr-3458	153	14	bps	bps	NOUN
fsr-3458	153	15	fee	fee	NOUN
fsr-3458	153	16	multiplied	multiply	VERB
fsr-3458	153	17	by	by	ADP
fsr-3458	153	18	the	the	DET
fsr-3458	153	19	maximum	maximum	PROPN
fsr-3458	153	20	portfolio	portfolio	NOUN
fsr-3458	153	21	value	value	NOUN
fsr-3458	153	22	in	in	ADP
fsr-3458	153	23	that	that	DET
fsr-3458	153	24	row	row	NOUN
fsr-3458	153	25	,	,	PUNCT
fsr-3458	153	26	added	add	VERB
fsr-3458	153	27	to	to	ADP
fsr-3458	153	28	any	any	DET
fsr-3458	153	29	previous	previous	ADJ
fsr-3458	153	30	fee	fee	NOUN
fsr-3458	153	31	on	on	ADP
fsr-3458	153	32	max	max	PROPN
fsr-3458	153	33	value	value	NOUN
fsr-3458	153	34	.	.	PUNCT
fsr-3458	154	1	having	having	AUX
fsr-3458	154	2	generated	generate	VERB
fsr-3458	154	3	this	this	DET
fsr-3458	154	4	i	i	PROPN
fsr-3458	154	5	m	m	NOUN
fsr-3458	154	6	fee	fee	NOUN
fsr-3458	154	7	structure	structure	NOUN
fsr-3458	154	8	based	base	VERB
fsr-3458	154	9	on	on	ADP
fsr-3458	154	10	a	a	DET
fsr-3458	154	11	rather	rather	ADV
fsr-3458	154	12	objective	objective	ADJ
fsr-3458	154	13	approach	approach	NOUN
fsr-3458	154	14	in	in	ADP
fsr-3458	154	15	terms	term	NOUN
fsr-3458	154	16	of	of	ADP
fsr-3458	154	17	market	market	NOUN
fsr-3458	154	18	competition	competition	NOUN
fsr-3458	154	19	and	and	CCONJ
fsr-3458	154	20	economies	economy	NOUN
fsr-3458	154	21	of	of	ADP
fsr-3458	154	22	scale	scale	NOUN
fsr-3458	154	23	,	,	PUNCT
fsr-3458	154	24	we	we	PRON
fsr-3458	154	25	can	can	AUX
fsr-3458	154	26	now	now	ADV
fsr-3458	154	27	deductively	deductively	ADV
fsr-3458	154	28	generate	generate	VERB
fsr-3458	154	29	the	the	DET
fsr-3458	154	30	fee	fee	NOUN
fsr-3458	154	31	structure	structure	NOUN
fsr-3458	154	32	for	for	ADP
fsr-3458	154	33	the	the	DET
fsr-3458	154	34	planning	planning	NOUN
fsr-3458	154	35	fee	fee	NOUN
fsr-3458	154	36	(	(	PUNCT
fsr-3458	154	37	nw	nw	NOUN
fsr-3458	154	38	component	component	NOUN
fsr-3458	154	39	)	)	PUNCT
fsr-3458	154	40	.	.	PUNCT
fsr-3458	155	1	we	we	PRON
fsr-3458	155	2	use	use	VERB
fsr-3458	155	3	this	this	DET
fsr-3458	155	4	fee	fee	NOUN
fsr-3458	155	5	structure	structure	NOUN
fsr-3458	155	6	to	to	PART
fsr-3458	155	7	inform	inform	VERB
fsr-3458	155	8	us	we	PRON
fsr-3458	155	9	about	about	ADP
fsr-3458	155	10	the	the	DET
fsr-3458	155	11	market	market	NOUN
fsr-3458	155	12	value	value	NOUN
fsr-3458	155	13	of	of	ADP
fsr-3458	155	14	providing	provide	VERB
fsr-3458	155	15	financial	financial	ADJ
fsr-3458	155	16	planning	planning	NOUN
fsr-3458	155	17	and	and	CCONJ
fsr-3458	155	18	advice	advice	NOUN
fsr-3458	155	19	to	to	ADP
fsr-3458	155	20	clients	client	NOUN
fsr-3458	155	21	.	.	PUNCT
fsr-3458	156	1	the	the	DET
fsr-3458	156	2	fee	fee	NOUN
fsr-3458	156	3	structure	structure	NOUN
fsr-3458	156	4	shown	show	VERB
fsr-3458	156	5	in	in	ADP
fsr-3458	156	6	table	table	NOUN
fsr-3458	156	7	1	1	NUM
fsr-3458	156	8	provides	provide	VERB
fsr-3458	156	9	reasonably	reasonably	ADV
fsr-3458	156	10	comparable	comparable	ADJ
fsr-3458	156	11	overall	overall	ADJ
fsr-3458	156	12	initial	initial	ADJ
fsr-3458	156	13	fees	fee	NOUN
fsr-3458	156	14	for	for	ADP
fsr-3458	156	15	clients	client	NOUN
fsr-3458	156	16	when	when	SCONJ
fsr-3458	156	17	controlling	control	VERB
fsr-3458	156	18	for	for	ADP
fsr-3458	156	19	the	the	DET
fsr-3458	156	20	complexity	complexity	NOUN
fsr-3458	156	21	of	of	ADP
fsr-3458	156	22	the	the	DET
fsr-3458	156	23	planning	planning	NOUN
fsr-3458	156	24	activities	activity	NOUN
fsr-3458	156	25	.	.	PUNCT
fsr-3458	157	1	a	a	DET
fsr-3458	157	2	common	common	ADJ
fsr-3458	157	3	refrain	refrain	NOUN
fsr-3458	157	4	of	of	ADP
fsr-3458	157	5	financial	financial	ADJ
fsr-3458	157	6	planning	planning	NOUN
fsr-3458	157	7	is	be	AUX
fsr-3458	157	8	recognizing	recognize	VERB
fsr-3458	157	9	that	that	SCONJ
fsr-3458	157	10	all	all	DET
fsr-3458	157	11	clients	client	NOUN
fsr-3458	157	12	are	be	AUX
fsr-3458	157	13	unique	unique	ADJ
fsr-3458	157	14	.	.	PUNCT
fsr-3458	158	1	it	it	PRON
fsr-3458	158	2	is	be	AUX
fsr-3458	158	3	quite	quite	ADV
fsr-3458	158	4	possible	possible	ADJ
fsr-3458	158	5	,	,	PUNCT
fsr-3458	158	6	and	and	CCONJ
fsr-3458	158	7	even	even	ADV
fsr-3458	158	8	more	more	ADV
fsr-3458	158	9	likely	likely	ADJ
fsr-3458	158	10	,	,	PUNCT
fsr-3458	158	11	that	that	SCONJ
fsr-3458	158	12	there	there	PRON
fsr-3458	158	13	might	might	AUX
fsr-3458	158	14	be	be	AUX
fsr-3458	158	15	significant	significant	ADJ
fsr-3458	158	16	variation	variation	NOUN
fsr-3458	158	17	among	among	ADP
fsr-3458	158	18	clients	client	NOUN
fsr-3458	158	19	’	'	PUNCT
fsr-3458	158	20	relative	relative	ADJ
fsr-3458	158	21	values	value	NOUN
fsr-3458	158	22	of	of	ADP
fsr-3458	158	23	net	net	ADJ
fsr-3458	158	24	worth	worth	NOUN
fsr-3458	158	25	(	(	PUNCT
fsr-3458	158	26	nw	nw	INTJ
fsr-3458	158	27	)	)	PUNCT
fsr-3458	158	28	and	and	CCONJ
fsr-3458	158	29	investable	investable	ADJ
fsr-3458	158	30	assets	asset	NOUN
fsr-3458	158	31	,	,	PUNCT
fsr-3458	158	32	or	or	CCONJ
fsr-3458	158	33	aum	aum	PROPN
fsr-3458	158	34	.	.	PUNCT
fsr-3458	159	1	the	the	DET
fsr-3458	159	2	size	size	NOUN
fsr-3458	159	3	and	and	CCONJ
fsr-3458	159	4	scope	scope	NOUN
fsr-3458	159	5	of	of	ADP
fsr-3458	159	6	clients	client	NOUN
fsr-3458	159	7	’	'	PUNCT
fsr-3458	159	8	aum	aum	PROPN
fsr-3458	159	9	and	and	CCONJ
fsr-3458	159	10	nw	nw	PROPN
fsr-3458	159	11	is	be	AUX
fsr-3458	159	12	the	the	DET
fsr-3458	159	13	focus	focus	NOUN
fsr-3458	159	14	of	of	ADP
fsr-3458	159	15	further	further	ADJ
fsr-3458	159	16	analysis	analysis	NOUN
fsr-3458	159	17	,	,	PUNCT
fsr-3458	159	18	a	a	DET
fsr-3458	159	19	third	third	ADJ
fsr-3458	159	20	potential	potential	ADJ
fsr-3458	159	21	“	"	PUNCT
fsr-3458	159	22	lever	lever	NOUN
fsr-3458	159	23	.	.	PUNCT
fsr-3458	159	24	”	"	PUNCT
fsr-3458	160	1	if	if	SCONJ
fsr-3458	160	2	a	a	DET
fsr-3458	160	3	client	client	NOUN
fsr-3458	160	4	’s	’s	PART
fsr-3458	160	5	aum	aum	PROPN
fsr-3458	160	6	represents	represent	VERB
fsr-3458	160	7	their	their	PRON
fsr-3458	160	8	entire	entire	ADJ
fsr-3458	160	9	nw	nw	NOUN
fsr-3458	160	10	,	,	PUNCT
fsr-3458	160	11	say	say	VERB
fsr-3458	160	12	early	early	ADV
fsr-3458	160	13	in	in	ADP
fsr-3458	160	14	their	their	PRON
fsr-3458	160	15	career	career	NOUN
fsr-3458	160	16	when	when	SCONJ
fsr-3458	160	17	their	their	PRON
fsr-3458	160	18	net	net	ADJ
fsr-3458	160	19	worth	worth	NOUN
fsr-3458	160	20	may	may	AUX
fsr-3458	160	21	consist	consist	VERB
fsr-3458	160	22	solely	solely	ADV
fsr-3458	160	23	of	of	ADP
fsr-3458	160	24	assets	asset	NOUN
fsr-3458	160	25	in	in	ADP
fsr-3458	160	26	a	a	DET
fsr-3458	160	27	401(k	401(k	PROPN
fsr-3458	160	28	)	)	PUNCT
fsr-3458	160	29	plan	plan	NOUN
fsr-3458	160	30	,	,	PUNCT
fsr-3458	160	31	the	the	DET
fsr-3458	160	32	breakdown	breakdown	NOUN
fsr-3458	160	33	of	of	ADP
fsr-3458	160	34	the	the	DET
fsr-3458	160	35	planning	planning	NOUN
fsr-3458	160	36	fee	fee	NOUN
fsr-3458	160	37	versus	versus	ADP
fsr-3458	160	38	i	i	PRON
fsr-3458	160	39	m	m	PROPN
fsr-3458	160	40	fee	fee	NOUN
fsr-3458	160	41	may	may	AUX
fsr-3458	160	42	likely	likely	ADV
fsr-3458	160	43	table	table	VERB
fsr-3458	160	44	1	1	NUM
fsr-3458	160	45	fee	fee	NOUN
fsr-3458	160	46	breakpoints	breakpoint	NOUN
fsr-3458	160	47	panel	panel	NOUN
fsr-3458	160	48	a	a	DET
fsr-3458	160	49	dual	dual	ADJ
fsr-3458	160	50	fee	fee	NOUN
fsr-3458	160	51	structure	structure	NOUN
fsr-3458	160	52	net	net	NOUN
fsr-3458	160	53	worth	worth	ADJ
fsr-3458	160	54	(	(	PUNCT
fsr-3458	160	55	nw	nw	NOUN
fsr-3458	160	56	)	)	PUNCT
fsr-3458	160	57	component	component	NOUN
fsr-3458	160	58	*	*	PUNCT
fsr-3458	160	59	plus	plus	CCONJ
fsr-3458	160	60	investment	investment	NOUN
fsr-3458	160	61	management	management	NOUN
fsr-3458	160	62	(	(	PUNCT
fsr-3458	160	63	i	i	NOUN
fsr-3458	160	64	m	m	PROPN
fsr-3458	160	65	)	)	PUNCT
fsr-3458	160	66	component	component	NOUN
fsr-3458	160	67	minimum	minimum	ADJ
fsr-3458	160	68	maximum	maximum	ADJ
fsr-3458	160	69	fee	fee	NOUN
fsr-3458	160	70	(	(	PUNCT
fsr-3458	160	71	bps	bps	NOUN
fsr-3458	160	72	)	)	PUNCT
fsr-3458	160	73	fee	fee	NOUN
fsr-3458	160	74	on	on	ADP
fsr-3458	160	75	max	max	PROPN
fsr-3458	160	76	minimum	minimum	ADJ
fsr-3458	160	77	maximum	maximum	PROPN
fsr-3458	160	78	fee	fee	NOUN
fsr-3458	160	79	(	(	PUNCT
fsr-3458	160	80	bps	bps	NOUN
fsr-3458	160	81	)	)	PUNCT
fsr-3458	160	82	fee	fee	NOUN
fsr-3458	160	83	on	on	ADP
fsr-3458	160	84	max	max	PROPN
fsr-3458	160	85	$	$	SYM
fsr-3458	160	86	—	—	PUNCT
fsr-3458	160	87	$	$	SYM
fsr-3458	160	88	500,000	500,000	NUM
fsr-3458	160	89	60	60	NUM
fsr-3458	160	90	$	$	SYM
fsr-3458	160	91	3,000	3,000	NUM
fsr-3458	160	92	$	$	NUM
fsr-3458	160	93	—	—	PUNCT
fsr-3458	160	94	$	$	SYM
fsr-3458	160	95	250,000	250,000	NUM
fsr-3458	160	96	50	50	NUM
fsr-3458	160	97	$	$	SYM
fsr-3458	160	98	1,250	1,250	NUM
fsr-3458	160	99	$	$	SYM
fsr-3458	160	100	500,000	500,000	NUM
fsr-3458	160	101	$	$	SYM
fsr-3458	160	102	2,500,000	2,500,000	NUM
fsr-3458	160	103	50	50	NUM
fsr-3458	160	104	$	$	SYM
fsr-3458	160	105	13,000	13,000	NUM
fsr-3458	160	106	$	$	SYM
fsr-3458	160	107	250,000	250,000	NUM
fsr-3458	160	108	$	$	SYM
fsr-3458	160	109	2,000,000	2,000,000	NUM
fsr-3458	160	110	40	40	NUM
fsr-3458	160	111	$	$	SYM
fsr-3458	160	112	8,250	8,250	NUM
fsr-3458	160	113	$	$	SYM
fsr-3458	160	114	2,500,000	2,500,000	NUM
fsr-3458	160	115	$	$	NUM
fsr-3458	160	116	—	—	PUNCT
fsr-3458	160	117	40	40	NUM
fsr-3458	160	118	$	$	SYM
fsr-3458	160	119	2,000,000	2,000,000	NUM
fsr-3458	160	120	$	$	NUM
fsr-3458	160	121	—	—	PUNCT
fsr-3458	160	122	30	30	NUM
fsr-3458	160	123	panel	panel	NOUN
fsr-3458	160	124	b	b	NOUN
fsr-3458	160	125	fee	fee	NOUN
fsr-3458	160	126	-	-	PUNCT
fsr-3458	160	127	only	only	ADV
fsr-3458	160	128	(	(	PUNCT
fsr-3458	160	129	im	im	NOUN
fsr-3458	160	130	-	-	PUNCT
fsr-3458	160	131	only	only	ADV
fsr-3458	160	132	)	)	PUNCT
fsr-3458	160	133	minimum	minimum	ADJ
fsr-3458	160	134	maximum	maximum	ADJ
fsr-3458	160	135	bps	bps	NOUN
fsr-3458	160	136	fee	fee	NOUN
fsr-3458	160	137	fee	fee	NOUN
fsr-3458	160	138	on	on	ADP
fsr-3458	160	139	max	max	PROPN
fsr-3458	160	140	$	$	SYM
fsr-3458	160	141	—	—	PUNCT
fsr-3458	161	1	$	$	SYM
fsr-3458	161	2	250,000	250,000	NUM
fsr-3458	161	3	120	120	NUM
fsr-3458	161	4	$	$	SYM
fsr-3458	161	5	3,000	3,000	NUM
fsr-3458	161	6	$	$	SYM
fsr-3458	161	7	250,000	250,000	NUM
fsr-3458	161	8	$	$	SYM
fsr-3458	161	9	2,000,000	2,000,000	NUM
fsr-3458	161	10	90	90	NUM
fsr-3458	161	11	$	$	SYM
fsr-3458	161	12	18,750	18,750	NUM
fsr-3458	161	13	$	$	SYM
fsr-3458	161	14	2,000,000	2,000,000	NUM
fsr-3458	161	15	$	$	NUM
fsr-3458	161	16	—	—	PUNCT
fsr-3458	161	17	60	60	NUM
fsr-3458	161	18	*	*	PUNCT
fsr-3458	161	19	note	note	VERB
fsr-3458	161	20	the	the	DET
fsr-3458	161	21	nw	nw	PROPN
fsr-3458	161	22	fee	fee	NOUN
fsr-3458	161	23	is	be	AUX
fsr-3458	161	24	reduced	reduce	VERB
fsr-3458	161	25	to	to	ADP
fsr-3458	161	26	50	50	NUM
fsr-3458	161	27	%	%	NOUN
fsr-3458	161	28	of	of	ADP
fsr-3458	161	29	the	the	DET
fsr-3458	161	30	year	year	NOUN
fsr-3458	161	31	1	1	NUM
fsr-3458	161	32	nw	nw	NOUN
fsr-3458	161	33	fee	fee	NOUN
fsr-3458	161	34	due	due	ADP
fsr-3458	161	35	to	to	ADP
fsr-3458	161	36	upfront	upfront	ADJ
fsr-3458	161	37	planning	planning	NOUN
fsr-3458	161	38	work	work	NOUN
fsr-3458	161	39	.	.	PUNCT
fsr-3458	162	1	this	this	DET
fsr-3458	162	2	table	table	NOUN
fsr-3458	162	3	depicts	depict	VERB
fsr-3458	162	4	the	the	DET
fsr-3458	162	5	parallel	parallel	ADJ
fsr-3458	162	6	,	,	PUNCT
fsr-3458	162	7	regressive	regressive	ADJ
fsr-3458	162	8	fee	fee	NOUN
fsr-3458	162	9	structures	structure	NOUN
fsr-3458	162	10	used	use	VERB
fsr-3458	162	11	in	in	ADP
fsr-3458	162	12	the	the	DET
fsr-3458	162	13	simulation	simulation	NOUN
fsr-3458	162	14	.	.	PUNCT
fsr-3458	163	1	panel	panel	NOUN
fsr-3458	163	2	a	a	DET
fsr-3458	163	3	depicts	depict	NOUN
fsr-3458	163	4	the	the	DET
fsr-3458	163	5	two	two	NUM
fsr-3458	163	6	components	component	NOUN
fsr-3458	163	7	of	of	ADP
fsr-3458	163	8	the	the	DET
fsr-3458	163	9	consolidated	consolidated	ADJ
fsr-3458	163	10	dual	dual	ADJ
fsr-3458	163	11	-	-	PUNCT
fsr-3458	163	12	fee	fee	NOUN
fsr-3458	163	13	structure	structure	NOUN
fsr-3458	163	14	(	(	PUNCT
fsr-3458	163	15	cdfs	cdfs	PROPN
fsr-3458	163	16	)	)	PUNCT
fsr-3458	163	17	and	and	CCONJ
fsr-3458	163	18	panel	panel	NOUN
fsr-3458	163	19	b	b	PROPN
fsr-3458	163	20	depicts	depict	VERB
fsr-3458	163	21	the	the	DET
fsr-3458	163	22	single	single	ADJ
fsr-3458	163	23	,	,	PUNCT
fsr-3458	163	24	and	and	CCONJ
fsr-3458	163	25	more	more	ADV
fsr-3458	163	26	widely	widely	ADV
fsr-3458	163	27	used	use	VERB
fsr-3458	163	28	asset	asset	NOUN
fsr-3458	163	29	under	under	ADP
fsr-3458	163	30	management	management	NOUN
fsr-3458	163	31	(	(	PUNCT
fsr-3458	163	32	aum)-based	aum)-base	VERB
fsr-3458	163	33	fee	fee	NOUN
fsr-3458	163	34	.	.	PUNCT
fsr-3458	164	1	s.	s.	PROPN
fsr-3458	164	2	p.	p.	PROPN
fsr-3458	164	3	fraser	fraser	PROPN
fsr-3458	165	1	et	et	PROPN
fsr-3458	165	2	al	al	PROPN
fsr-3458	165	3	.	.	PUNCT
fsr-3458	165	4	/	/	SYM
fsr-3458	165	5	financial	financial	ADJ
fsr-3458	165	6	services	service	NOUN
fsr-3458	165	7	review	review	VERB
fsr-3458	165	8	29	29	NUM
fsr-3458	165	9	(	(	PUNCT
fsr-3458	165	10	2021	2021	NUM
fsr-3458	165	11	)	)	PUNCT
fsr-3458	165	12	227–245	227–245	NUM
fsr-3458	165	13	233	233	NUM
fsr-3458	165	14	t	t	NOUN
fsr-3458	165	15	ab	ab	PROPN
fsr-3458	165	16	le	le	PROPN
fsr-3458	165	17	2	2	PROPN
fsr-3458	165	18	t	t	PROPN
fsr-3458	165	19	ar	ar	PROPN
fsr-3458	165	20	g	g	PROPN
fsr-3458	165	21	et	et	PROPN
fsr-3458	165	22	v	v	ADP
fsr-3458	165	23	er	er	INTJ
fsr-3458	165	24	su	su	PROPN
fsr-3458	165	25	s	s	PROPN
fsr-3458	165	26	si	si	PROPN
fsr-3458	165	27	m	m	VERB
fsr-3458	165	28	u	u	NOUN
fsr-3458	165	29	la	la	X
fsr-3458	165	30	ti	ti	X
fsr-3458	165	31	o	o	PROPN
fsr-3458	165	32	n	n	PRON
fsr-3458	165	33	st	st	PROPN
fsr-3458	166	1	at	at	ADP
fsr-3458	166	2	is	be	AUX
fsr-3458	166	3	ti	ti	X
fsr-3458	166	4	cs	cs	X
fsr-3458	166	5	(	(	PUNCT
fsr-3458	166	6	1	1	NUM
fsr-3458	166	7	0	0	NUM
fsr-3458	166	8	-y	-y	NUM
fsr-3458	166	9	ea	ea	NOUN
fsr-3458	166	10	r	r	NOUN
fsr-3458	166	11	h	h	NOUN
fsr-3458	167	1	o	o	X
fsr-3458	167	2	ri	ri	PROPN
fsr-3458	167	3	zo	zo	PROPN
fsr-3458	167	4	n	n	PROPN
fsr-3458	167	5	)	)	PUNCT
fsr-3458	167	6	r	r	NOUN
fsr-3458	167	7	et	et	NOUN
fsr-3458	167	8	u	u	PROPN
fsr-3458	167	9	rn	rn	PROPN
fsr-3458	167	10	s	s	PROPN
fsr-3458	167	11	(	(	PUNCT
fsr-3458	167	12	a	a	DET
fsr-3458	167	13	n	n	CCONJ
fsr-3458	167	14	n	n	ADP
fsr-3458	167	15	u	u	NOUN
fsr-3458	167	16	al	al	PROPN
fsr-3458	167	17	)	)	PUNCT
fsr-3458	167	18	r	r	NOUN
fsr-3458	167	19	is	be	AUX
fsr-3458	167	20	k	k	X
fsr-3458	167	21	(	(	PUNCT
fsr-3458	167	22	a	a	PRON
fsr-3458	167	23	n	n	CCONJ
fsr-3458	167	24	n	n	ADP
fsr-3458	167	25	u	u	NOUN
fsr-3458	167	26	al	al	PROPN
fsr-3458	167	27	)	)	PUNCT
fsr-3458	167	28	c	c	PROPN
fsr-3458	168	1	o	o	NOUN
fsr-3458	168	2	rr	rr	PROPN
fsr-3458	168	3	el	el	PROPN
fsr-3458	168	4	at	at	ADP
fsr-3458	168	5	io	io	PROPN
fsr-3458	168	6	n	n	X
fsr-3458	168	7	s	s	PROPN
fsr-3458	168	8	(	(	PUNCT
fsr-3458	168	9	d	d	X
fsr-3458	168	10	es	es	X
fsr-3458	168	11	ir	ir	PROPN
fsr-3458	168	12	ed	ed	NOUN
fsr-3458	168	13	/s	/s	PUNCT
fsr-3458	169	1	i	i	PRON
fsr-3458	169	2	m	m	VERB
fsr-3458	169	3	u	u	VERB
fsr-3458	169	4	la	la	X
fsr-3458	169	5	te	te	PROPN
fsr-3458	169	6	d	d	PROPN
fsr-3458	169	7	)	)	PUNCT
fsr-3458	169	8	a	a	DET
fsr-3458	169	9	ss	ss	NOUN
fsr-3458	169	10	et	et	NOUN
fsr-3458	169	11	cl	cl	NOUN
fsr-3458	169	12	as	as	ADP
fsr-3458	169	13	s	s	PROPN
fsr-3458	169	14	d	d	X
fsr-3458	169	15	es	es	X
fsr-3458	169	16	ir	ir	PROPN
fsr-3458	169	17	ed	ed	NOUN
fsr-3458	169	18	s	s	PROPN
fsr-3458	169	19	i	i	NOUN
fsr-3458	169	20	m	m	VERB
fsr-3458	169	21	u	u	ADJ
fsr-3458	169	22	la	la	X
fsr-3458	169	23	te	te	PROPN
fsr-3458	169	24	d	d	X
fsr-3458	169	25	d	d	X
fsr-3458	169	26	es	es	X
fsr-3458	169	27	ir	ir	PROPN
fsr-3458	169	28	ed	ed	NOUN
fsr-3458	169	29	s	s	PROPN
fsr-3458	169	30	i	i	NOUN
fsr-3458	169	31	m	m	VERB
fsr-3458	169	32	u	u	ADJ
fsr-3458	169	33	la	la	X
fsr-3458	169	34	te	te	PROPN
fsr-3458	169	35	d	d	PROPN
fsr-3458	169	36	b	b	PROPN
fsr-3458	169	37	o	o	X
fsr-3458	170	1	n	n	NOUN
fsr-3458	170	2	d	d	NOUN
fsr-3458	170	3	r	r	NOUN
fsr-3458	170	4	ea	ea	NUM
fsr-3458	170	5	l	l	NOUN
fsr-3458	170	6	es	es	X
fsr-3458	170	7	ta	ta	X
fsr-3458	170	8	te	te	INTJ
fsr-3458	170	9	p	p	X
fsr-3458	170	10	ri	ri	PROPN
fsr-3458	170	11	v	v	NOUN
fsr-3458	170	12	at	at	ADP
fsr-3458	170	13	e	e	PROPN
fsr-3458	170	14	eq	eq	ADP
fsr-3458	170	15	u	u	PROPN
fsr-3458	170	16	it	it	PRON
fsr-3458	170	17	y	y	NOUN
fsr-3458	170	18	s	s	VERB
fsr-3458	170	19	to	to	PART
fsr-3458	170	20	ck	ck	PROPN
fsr-3458	171	1	5	5	NUM
fsr-3458	171	2	.6	.6	NUM
fsr-3458	171	3	0	0	NUM
fsr-3458	171	4	%	%	NOUN
fsr-3458	171	5	5	5	NUM
fsr-3458	171	6	.5	.5	NUM
fsr-3458	171	7	2	2	NUM
fsr-3458	171	8	%	%	NOUN
fsr-3458	171	9	1	1	NUM
fsr-3458	171	10	4	4	NUM
fsr-3458	171	11	.3	.3	NUM
fsr-3458	171	12	0	0	NUM
fsr-3458	172	1	%	%	NOUN
fsr-3458	172	2	1	1	NUM
fsr-3458	172	3	3	3	NUM
fsr-3458	172	4	.9	.9	NUM
fsr-3458	172	5	5	5	NUM
fsr-3458	172	6	%	%	NOUN
fsr-3458	172	7	0	0	NUM
fsr-3458	173	1	.0	.0	NUM
fsr-3458	173	2	0	0	NUM
fsr-3458	173	3	0	0	NUM
fsr-3458	173	4	/	/	SYM
fsr-3458	173	5	�	�	PROPN
fsr-3458	173	6	0	0	NUM
fsr-3458	174	1	.0	.0	NUM
fsr-3458	174	2	0	0	NUM
fsr-3458	174	3	4	4	NUM
fsr-3458	174	4	0	0	NUM
fsr-3458	174	5	.5	.5	NUM
fsr-3458	174	6	3	3	NUM
fsr-3458	174	7	/0	/0	NOUN
fsr-3458	174	8	.5	.5	NUM
fsr-3458	175	1	1	1	NUM
fsr-3458	175	2	0	0	NUM
fsr-3458	175	3	.7	.7	NUM
fsr-3458	175	4	3	3	NUM
fsr-3458	175	5	/0	/0	NOUN
fsr-3458	175	6	.7	.7	NUM
fsr-3458	175	7	1	1	NUM
fsr-3458	175	8	b	b	X
fsr-3458	175	9	o	o	NOUN
fsr-3458	175	10	n	n	PROPN
fsr-3458	175	11	d	d	PROPN
fsr-3458	175	12	3	3	NUM
fsr-3458	175	13	.1	.1	NUM
fsr-3458	175	14	0	0	NUM
fsr-3458	176	1	%	%	NOUN
fsr-3458	176	2	3	3	NUM
fsr-3458	176	3	.1	.1	NUM
fsr-3458	176	4	0	0	NUM
fsr-3458	177	1	%	%	NOUN
fsr-3458	177	2	3	3	NUM
fsr-3458	178	1	.4	.4	NUM
fsr-3458	178	2	2	2	NUM
fsr-3458	178	3	%	%	NOUN
fsr-3458	178	4	3	3	NUM
fsr-3458	178	5	.3	.3	NUM
fsr-3458	178	6	3	3	NUM
fsr-3458	178	7	%	%	NOUN
fsr-3458	178	8	�	�	PROPN
fsr-3458	178	9	0	0	NUM
fsr-3458	178	10	.1	.1	NOUN
fsr-3458	178	11	9	9	NUM
fsr-3458	178	12	/	/	SYM
fsr-3458	178	13	�	�	PROPN
fsr-3458	178	14	0	0	NUM
fsr-3458	178	15	.1	.1	NUM
fsr-3458	178	16	8	8	NUM
fsr-3458	178	17	�	�	PROPN
fsr-3458	178	18	0	0	NUM
fsr-3458	179	1	.2	.2	NUM
fsr-3458	179	2	3	3	NUM
fsr-3458	179	3	/	/	SYM
fsr-3458	179	4	�	�	PROPN
fsr-3458	179	5	0	0	NUM
fsr-3458	179	6	.2	.2	NUM
fsr-3458	179	7	2	2	NUM
fsr-3458	179	8	r	r	NOUN
fsr-3458	179	9	ea	ea	NOUN
fsr-3458	179	10	l	l	NOUN
fsr-3458	179	11	es	es	X
fsr-3458	179	12	ta	ta	X
fsr-3458	179	13	te	te	PROPN
fsr-3458	179	14	5	5	NUM
fsr-3458	179	15	.8	.8	NUM
fsr-3458	179	16	0	0	NUM
fsr-3458	180	1	%	%	NOUN
fsr-3458	181	1	5	5	NUM
fsr-3458	181	2	.7	.7	NUM
fsr-3458	181	3	9	9	NUM
fsr-3458	181	4	%	%	NOUN
fsr-3458	181	5	1	1	NUM
fsr-3458	181	6	1	1	NUM
fsr-3458	181	7	.0	.0	NUM
fsr-3458	181	8	7	7	NUM
fsr-3458	181	9	%	%	NOUN
fsr-3458	181	10	1	1	NUM
fsr-3458	181	11	0	0	NUM
fsr-3458	181	12	.7	.7	NUM
fsr-3458	181	13	7	7	NUM
fsr-3458	181	14	%	%	NOUN
fsr-3458	181	15	0	0	NUM
fsr-3458	181	16	.4	.4	NUM
fsr-3458	181	17	9	9	NUM
fsr-3458	181	18	/0	/0	NOUN
fsr-3458	181	19	.4	.4	NUM
fsr-3458	181	20	7	7	NUM
fsr-3458	181	21	p	p	X
fsr-3458	181	22	ri	ri	NOUN
fsr-3458	181	23	v	v	NOUN
fsr-3458	181	24	at	at	ADP
fsr-3458	181	25	e	e	PROPN
fsr-3458	181	26	eq	eq	ADP
fsr-3458	181	27	u	u	PROPN
fsr-3458	181	28	it	it	PRON
fsr-3458	181	29	y	y	PROPN
fsr-3458	181	30	8	8	NUM
fsr-3458	181	31	.8	.8	NUM
fsr-3458	181	32	0	0	NUM
fsr-3458	182	1	%	%	NOUN
fsr-3458	182	2	8	8	NUM
fsr-3458	182	3	.7	.7	NUM
fsr-3458	182	4	6	6	NUM
fsr-3458	182	5	%	%	NOUN
fsr-3458	182	6	2	2	NUM
fsr-3458	182	7	0	0	NUM
fsr-3458	182	8	.1	.1	NUM
fsr-3458	182	9	7	7	NUM
fsr-3458	182	10	%	%	NOUN
fsr-3458	182	11	1	1	NUM
fsr-3458	182	12	9	9	NUM
fsr-3458	182	13	.7	.7	NUM
fsr-3458	182	14	2	2	NUM
fsr-3458	182	15	%	%	NOUN
fsr-3458	182	16	m	m	NOUN
fsr-3458	182	17	o	o	NOUN
fsr-3458	182	18	n	n	ADP
fsr-3458	182	19	te	te	PROPN
fsr-3458	182	20	c	c	PROPN
fsr-3458	182	21	ar	ar	PROPN
fsr-3458	182	22	lo	lo	PROPN
fsr-3458	182	23	ru	ru	PROPN
fsr-3458	182	24	n	n	PROPN
fsr-3458	182	25	s	s	PROPN
fsr-3458	182	26	1	1	NUM
fsr-3458	182	27	0	0	NUM
fsr-3458	182	28	,	,	PUNCT
fsr-3458	182	29	0	0	NUM
fsr-3458	182	30	0	0	NUM
fsr-3458	182	31	0	0	NUM
fsr-3458	183	1	t	t	NOUN
fsr-3458	183	2	h	h	NOUN
fsr-3458	183	3	is	be	AUX
fsr-3458	183	4	ta	ta	ADP
fsr-3458	183	5	b	b	X
fsr-3458	183	6	le	le	ADV
fsr-3458	183	7	sh	sh	NOUN
fsr-3458	184	1	o	o	X
fsr-3458	184	2	w	w	PROPN
fsr-3458	184	3	s	s	X
fsr-3458	184	4	th	th	X
fsr-3458	184	5	e	e	X
fsr-3458	184	6	ta	ta	X
fsr-3458	184	7	rg	rg	VERB
fsr-3458	184	8	et	et	PROPN
fsr-3458	184	9	an	an	PRON
fsr-3458	184	10	d	d	X
fsr-3458	184	11	si	si	PROPN
fsr-3458	184	12	m	m	VERB
fsr-3458	184	13	u	u	NOUN
fsr-3458	184	14	la	la	X
fsr-3458	184	15	te	te	PROPN
fsr-3458	184	16	d	d	X
fsr-3458	184	17	v	v	PROPN
fsr-3458	184	18	al	al	PROPN
fsr-3458	184	19	u	u	NOUN
fsr-3458	184	20	es	es	NOUN
fsr-3458	184	21	fo	fo	ADP
fsr-3458	184	22	r	r	NOUN
fsr-3458	184	23	ri	ri	NOUN
fsr-3458	184	24	sk	sk	VERB
fsr-3458	184	25	an	an	DET
fsr-3458	184	26	d	d	PROPN
fsr-3458	184	27	re	re	X
fsr-3458	184	28	tu	tu	PROPN
fsr-3458	184	29	rn	rn	PROPN
fsr-3458	184	30	in	in	ADP
fsr-3458	184	31	p	p	NOUN
fsr-3458	184	32	u	u	PROPN
fsr-3458	184	33	ts	ts	ADP
fsr-3458	184	34	u	u	PROPN
fsr-3458	184	35	se	se	PROPN
fsr-3458	184	36	d	d	PROPN
fsr-3458	184	37	in	in	ADP
fsr-3458	184	38	th	th	X
fsr-3458	184	39	e	e	NOUN
fsr-3458	184	40	m	m	NOUN
fsr-3458	184	41	o	o	NOUN
fsr-3458	184	42	n	n	X
fsr-3458	184	43	te	te	PROPN
fsr-3458	184	44	c	c	PROPN
fsr-3458	184	45	ar	ar	PROPN
fsr-3458	185	1	lo	lo	PROPN
fsr-3458	185	2	si	si	PROPN
fsr-3458	185	3	m	m	VERB
fsr-3458	185	4	u	u	NOUN
fsr-3458	185	5	la	la	X
fsr-3458	185	6	ti	ti	NOUN
fsr-3458	185	7	o	o	NOUN
fsr-3458	185	8	n	n	NOUN
fsr-3458	185	9	.	.	PUNCT
fsr-3458	186	1	r	r	NOUN
fsr-3458	186	2	es	es	X
fsr-3458	186	3	u	u	PROPN
fsr-3458	186	4	lt	lt	PROPN
fsr-3458	186	5	s	s	PROPN
fsr-3458	186	6	ar	ar	NOUN
fsr-3458	186	7	e	e	NOUN
fsr-3458	186	8	sh	sh	NOUN
fsr-3458	186	9	o	o	X
fsr-3458	186	10	w	w	NOUN
fsr-3458	186	11	n	n	ADV
fsr-3458	186	12	fo	fo	INTJ
fsr-3458	186	13	r	r	NOUN
fsr-3458	186	14	al	al	PROPN
fsr-3458	186	15	l	l	PROPN
fsr-3458	186	16	as	as	ADP
fsr-3458	186	17	se	se	PROPN
fsr-3458	186	18	t	t	PROPN
fsr-3458	186	19	cl	cl	NOUN
fsr-3458	186	20	as	as	SCONJ
fsr-3458	186	21	se	se	PROPN
fsr-3458	186	22	s	s	PART
fsr-3458	186	23	u	u	PROPN
fsr-3458	186	24	se	se	PROPN
fsr-3458	186	25	d	d	PROPN
fsr-3458	186	26	in	in	ADP
fsr-3458	186	27	th	th	NUM
fsr-3458	186	28	e	e	NOUN
fsr-3458	186	29	si	si	PROPN
fsr-3458	186	30	m	m	VERB
fsr-3458	186	31	u	u	NOUN
fsr-3458	186	32	la	la	X
fsr-3458	186	33	ti	ti	X
fsr-3458	186	34	o	o	NOUN
fsr-3458	186	35	n	n	PROPN
fsr-3458	186	36	as	as	ADP
fsr-3458	186	37	w	w	PROPN
fsr-3458	186	38	el	el	PROPN
fsr-3458	186	39	l	l	PROPN
fsr-3458	186	40	as	as	ADP
fsr-3458	186	41	th	th	X
fsr-3458	186	42	e	e	X
fsr-3458	186	43	co	co	NOUN
fsr-3458	186	44	rr	rr	PROPN
fsr-3458	186	45	el	el	PROPN
fsr-3458	186	46	at	at	ADP
fsr-3458	186	47	io	io	PROPN
fsr-3458	186	48	n	n	PRON
fsr-3458	186	49	o	o	NOUN
fsr-3458	186	50	f	f	X
fsr-3458	186	51	th	th	X
fsr-3458	186	52	o	o	X
fsr-3458	186	53	se	se	X
fsr-3458	186	54	in	in	ADP
fsr-3458	186	55	p	p	NOUN
fsr-3458	186	56	u	u	NOUN
fsr-3458	186	57	ts	ts	ADV
fsr-3458	186	58	.	.	PUNCT
fsr-3458	187	1	t	t	PROPN
fsr-3458	187	2	ar	ar	PROPN
fsr-3458	187	3	g	g	PROPN
fsr-3458	187	4	et	et	PROPN
fsr-3458	187	5	v	v	NOUN
fsr-3458	187	6	al	al	PROPN
fsr-3458	187	7	u	u	PROPN
fsr-3458	187	8	es	es	X
fsr-3458	187	9	co	co	NOUN
fsr-3458	187	10	m	m	VERB
fsr-3458	187	11	e	e	NOUN
fsr-3458	187	12	fr	fr	NOUN
fsr-3458	187	13	o	o	NOUN
fsr-3458	187	14	m	m	VERB
fsr-3458	187	15	jp	jp	INTJ
fsr-3458	187	16	m	m	VERB
fsr-3458	187	17	o	o	NOUN
fsr-3458	187	18	rg	rg	NOUN
fsr-3458	187	19	an	an	DET
fsr-3458	187	20	2	2	NUM
fsr-3458	187	21	0	0	NUM
fsr-3458	187	22	2	2	NUM
fsr-3458	187	23	0	0	NUM
fsr-3458	187	24	lo	lo	PROPN
fsr-3458	187	25	n	n	PRON
fsr-3458	187	26	g	g	NOUN
fsr-3458	188	1	-t	-t	INTJ
fsr-3458	189	1	er	er	INTJ
fsr-3458	190	1	m	m	VERB
fsr-3458	190	2	ca	ca	NOUN
fsr-3458	191	1	p	p	NOUN
fsr-3458	191	2	it	it	PRON
fsr-3458	192	1	al	al	PROPN
fsr-3458	192	2	m	m	PROPN
fsr-3458	192	3	ar	ar	PROPN
fsr-3458	192	4	k	k	PROPN
fsr-3458	192	5	et	et	PROPN
fsr-3458	192	6	fo	fo	INTJ
fsr-3458	192	7	re	re	PROPN
fsr-3458	192	8	ca	ca	PROPN
fsr-3458	192	9	st	st	PROPN
fsr-3458	192	10	.	.	PROPN
fsr-3458	192	11	234	234	NUM
fsr-3458	192	12	s.	s.	PROPN
fsr-3458	192	13	p.	p.	PROPN
fsr-3458	192	14	fraser	fraser	PROPN
fsr-3458	193	1	et	et	PROPN
fsr-3458	193	2	al	al	PROPN
fsr-3458	193	3	.	.	PUNCT
fsr-3458	193	4	/	/	SYM
fsr-3458	193	5	financial	financial	ADJ
fsr-3458	193	6	services	service	NOUN
fsr-3458	193	7	review	review	VERB
fsr-3458	193	8	29	29	NUM
fsr-3458	193	9	(	(	PUNCT
fsr-3458	193	10	2021	2021	NUM
fsr-3458	193	11	)	)	PUNCT
fsr-3458	193	12	227–245	227–245	NUM
fsr-3458	193	13	differ	differ	VERB
fsr-3458	193	14	from	from	ADP
fsr-3458	193	15	that	that	PRON
fsr-3458	193	16	of	of	ADP
fsr-3458	193	17	a	a	DET
fsr-3458	193	18	client	client	NOUN
fsr-3458	193	19	where	where	SCONJ
fsr-3458	193	20	the	the	DET
fsr-3458	193	21	level	level	NOUN
fsr-3458	193	22	of	of	ADP
fsr-3458	193	23	aum	aum	PROPN
fsr-3458	193	24	is	be	AUX
fsr-3458	193	25	significantly	significantly	ADV
fsr-3458	193	26	less	less	ADJ
fsr-3458	193	27	than	than	ADP
fsr-3458	193	28	their	their	PRON
fsr-3458	193	29	nw	nw	NOUN
fsr-3458	193	30	,	,	PUNCT
fsr-3458	193	31	for	for	ADP
fsr-3458	193	32	instance	instance	NOUN
fsr-3458	193	33	,	,	PUNCT
fsr-3458	193	34	as	as	SCONJ
fsr-3458	193	35	they	they	PRON
fsr-3458	193	36	approach	approach	VERB
fsr-3458	193	37	or	or	CCONJ
fsr-3458	193	38	have	have	AUX
fsr-3458	193	39	entered	enter	VERB
fsr-3458	193	40	the	the	DET
fsr-3458	193	41	retirement	retirement	NOUN
fsr-3458	193	42	phase	phase	NOUN
fsr-3458	193	43	and	and	CCONJ
fsr-3458	193	44	own	own	VERB
fsr-3458	193	45	real	real	ADJ
fsr-3458	193	46	estate	estate	NOUN
fsr-3458	193	47	and/or	and/or	CCONJ
fsr-3458	193	48	a	a	DET
fsr-3458	193	49	small	small	ADJ
fsr-3458	193	50	business	business	NOUN
fsr-3458	193	51	interest	interest	NOUN
fsr-3458	193	52	.	.	PUNCT
fsr-3458	194	1	the	the	DET
fsr-3458	194	2	ratio	ratio	NOUN
fsr-3458	194	3	of	of	ADP
fsr-3458	194	4	nw	nw	PROPN
fsr-3458	194	5	to	to	ADP
fsr-3458	194	6	aum	aum	PROPN
fsr-3458	194	7	will	will	AUX
fsr-3458	194	8	serve	serve	VERB
fsr-3458	194	9	as	as	ADP
fsr-3458	194	10	a	a	DET
fsr-3458	194	11	proxy	proxy	NOUN
fsr-3458	194	12	for	for	ADP
fsr-3458	194	13	the	the	DET
fsr-3458	194	14	delta	delta	NOUN
fsr-3458	194	15	in	in	ADP
fsr-3458	194	16	the	the	DET
fsr-3458	194	17	i	i	PROPN
fsr-3458	194	18	m	m	PROPN
fsr-3458	194	19	fee	fee	NOUN
fsr-3458	194	20	versus	versus	ADP
fsr-3458	194	21	financial	financial	ADJ
fsr-3458	194	22	planning	planning	NOUN
fsr-3458	194	23	fee	fee	NOUN
fsr-3458	194	24	in	in	ADP
fsr-3458	194	25	this	this	DET
fsr-3458	194	26	analysis	analysis	NOUN
fsr-3458	194	27	.	.	PUNCT
fsr-3458	195	1	in	in	ADP
fsr-3458	195	2	other	other	ADJ
fsr-3458	195	3	words	word	NOUN
fsr-3458	195	4	,	,	PUNCT
fsr-3458	195	5	as	as	SCONJ
fsr-3458	195	6	the	the	DET
fsr-3458	195	7	aum	aum	PROPN
fsr-3458	195	8	decreases	decrease	NOUN
fsr-3458	195	9	relative	relative	ADJ
fsr-3458	195	10	to	to	ADP
fsr-3458	195	11	total	total	VERB
fsr-3458	195	12	nw	nw	PROPN
fsr-3458	195	13	,	,	PUNCT
fsr-3458	195	14	a	a	DET
fsr-3458	195	15	planning	planning	NOUN
fsr-3458	195	16	fee	fee	NOUN
fsr-3458	195	17	schedule	schedule	NOUN
fsr-3458	195	18	becomes	become	VERB
fsr-3458	195	19	more	more	ADV
fsr-3458	195	20	relevant	relevant	ADJ
fsr-3458	195	21	than	than	ADP
fsr-3458	195	22	an	an	DET
fsr-3458	195	23	i	i	NOUN
fsr-3458	195	24	m	m	PROPN
fsr-3458	195	25	fee	fee	NOUN
fsr-3458	195	26	schedule	schedule	NOUN
fsr-3458	195	27	,	,	PUNCT
fsr-3458	195	28	causing	cause	VERB
fsr-3458	195	29	the	the	DET
fsr-3458	195	30	planning	planning	NOUN
fsr-3458	195	31	fee	fee	NOUN
fsr-3458	195	32	to	to	PART
fsr-3458	195	33	increase	increase	VERB
fsr-3458	195	34	and	and	CCONJ
fsr-3458	195	35	the	the	DET
fsr-3458	195	36	i	i	PROPN
fsr-3458	195	37	m	m	PROPN
fsr-3458	195	38	fee	fee	NOUN
fsr-3458	195	39	to	to	PART
fsr-3458	195	40	decrease	decrease	VERB
fsr-3458	195	41	.	.	PUNCT
fsr-3458	196	1	to	to	PART
fsr-3458	196	2	see	see	VERB
fsr-3458	196	3	these	these	DET
fsr-3458	196	4	impacts	impact	NOUN
fsr-3458	196	5	,	,	PUNCT
fsr-3458	196	6	we	we	PRON
fsr-3458	196	7	investigate	investigate	VERB
fsr-3458	196	8	the	the	DET
fsr-3458	196	9	variance	variance	NOUN
fsr-3458	196	10	of	of	ADP
fsr-3458	196	11	planning	planning	NOUN
fsr-3458	196	12	and	and	CCONJ
fsr-3458	196	13	i	i	PRON
fsr-3458	196	14	m	m	VERB
fsr-3458	196	15	fees	fee	NOUN
fsr-3458	196	16	for	for	ADP
fsr-3458	196	17	three	three	NUM
fsr-3458	196	18	clients	client	NOUN
fsr-3458	196	19	:	:	PUNCT
fsr-3458	196	20	a	a	DET
fsr-3458	196	21	young	young	ADJ
fsr-3458	196	22	client	client	NOUN
fsr-3458	196	23	in	in	ADP
fsr-3458	196	24	the	the	DET
fsr-3458	196	25	accumulation	accumulation	NOUN
fsr-3458	196	26	phase	phase	NOUN
fsr-3458	196	27	,	,	PUNCT
fsr-3458	196	28	a	a	DET
fsr-3458	196	29	near	near	ADJ
fsr-3458	196	30	-	-	PUNCT
fsr-3458	196	31	retirement	retirement	NOUN
fsr-3458	196	32	client	client	NOUN
fsr-3458	196	33	with	with	ADP
fsr-3458	196	34	some	some	DET
fsr-3458	196	35	remaining	remain	VERB
fsr-3458	196	36	work	work	NOUN
fsr-3458	196	37	years	year	NOUN
fsr-3458	196	38	but	but	CCONJ
fsr-3458	196	39	planning	plan	VERB
fsr-3458	196	40	for	for	ADP
fsr-3458	196	41	the	the	DET
fsr-3458	196	42	transition	transition	NOUN
fsr-3458	196	43	to	to	ADP
fsr-3458	196	44	retirement	retirement	NOUN
fsr-3458	196	45	,	,	PUNCT
fsr-3458	196	46	and	and	CCONJ
fsr-3458	196	47	a	a	DET
fsr-3458	196	48	retired	retire	VERB
fsr-3458	196	49	client	client	NOUN
fsr-3458	196	50	in	in	ADP
fsr-3458	196	51	the	the	DET
fsr-3458	196	52	spending	spending	NOUN
fsr-3458	196	53	phase	phase	NOUN
fsr-3458	196	54	.	.	PUNCT
fsr-3458	197	1	we	we	PRON
fsr-3458	197	2	then	then	ADV
fsr-3458	197	3	add	add	VERB
fsr-3458	197	4	three	three	NUM
fsr-3458	197	5	levels	level	NOUN
fsr-3458	197	6	of	of	ADP
fsr-3458	197	7	the	the	DET
fsr-3458	197	8	relationship	relationship	NOUN
fsr-3458	197	9	that	that	PRON
fsr-3458	197	10	cover	cover	VERB
fsr-3458	197	11	this	this	DET
fsr-3458	197	12	spectrum	spectrum	NOUN
fsr-3458	197	13	of	of	ADP
fsr-3458	197	14	the	the	DET
fsr-3458	197	15	ratio	ratio	NOUN
fsr-3458	197	16	between	between	ADP
fsr-3458	197	17	aum	aum	PROPN
fsr-3458	197	18	and	and	CCONJ
fsr-3458	197	19	nw	nw	PROPN
fsr-3458	197	20	:	:	PUNCT
fsr-3458	197	21	one	one	NUM
fsr-3458	197	22	where	where	SCONJ
fsr-3458	197	23	nw	nw	PROPN
fsr-3458	197	24	equals	equal	VERB
fsr-3458	197	25	the	the	DET
fsr-3458	197	26	level	level	NOUN
fsr-3458	197	27	of	of	ADP
fsr-3458	197	28	aum	aum	NOUN
fsr-3458	197	29	,	,	PUNCT
fsr-3458	197	30	one	one	NUM
fsr-3458	197	31	where	where	SCONJ
fsr-3458	197	32	nw	nw	PROPN
fsr-3458	197	33	is	be	AUX
fsr-3458	197	34	1.5x	1.5x	NUM
fsr-3458	197	35	the	the	DET
fsr-3458	197	36	amount	amount	NOUN
fsr-3458	197	37	of	of	ADP
fsr-3458	197	38	aum	aum	NOUN
fsr-3458	197	39	,	,	PUNCT
fsr-3458	197	40	and	and	CCONJ
fsr-3458	197	41	finally	finally	ADV
fsr-3458	197	42	where	where	SCONJ
fsr-3458	197	43	nw	nw	PROPN
fsr-3458	197	44	is	be	AUX
fsr-3458	197	45	2x	2x	NUM
fsr-3458	197	46	the	the	DET
fsr-3458	197	47	client	client	NOUN
fsr-3458	197	48	’s	’s	PART
fsr-3458	197	49	aum	aum	PROPN
fsr-3458	197	50	.	.	PUNCT
fsr-3458	198	1	our	our	PRON
fsr-3458	198	2	quantitative	quantitative	ADJ
fsr-3458	198	3	approach	approach	NOUN
fsr-3458	198	4	involves	involve	VERB
fsr-3458	198	5	simulating	simulate	VERB
fsr-3458	198	6	the	the	DET
fsr-3458	198	7	dual	dual	ADJ
fsr-3458	198	8	fee	fee	NOUN
fsr-3458	198	9	structure	structure	NOUN
fsr-3458	198	10	properties	property	NOUN
fsr-3458	198	11	over	over	ADP
fsr-3458	198	12	the	the	DET
fsr-3458	198	13	relevant	relevant	ADJ
fsr-3458	198	14	time	time	NOUN
fsr-3458	198	15	period	period	NOUN
fsr-3458	198	16	for	for	ADP
fsr-3458	198	17	each	each	PRON
fsr-3458	198	18	of	of	ADP
fsr-3458	198	19	our	our	PRON
fsr-3458	198	20	clients	client	NOUN
fsr-3458	198	21	:	:	PUNCT
fsr-3458	198	22	40	40	NUM
fsr-3458	198	23	years	year	NOUN
fsr-3458	198	24	for	for	ADP
fsr-3458	198	25	the	the	DET
fsr-3458	198	26	young	young	ADJ
fsr-3458	198	27	client	client	NOUN
fsr-3458	198	28	(	(	PUNCT
fsr-3458	198	29	accumulation	accumulation	NOUN
fsr-3458	198	30	phase	phase	NOUN
fsr-3458	198	31	)	)	PUNCT
fsr-3458	198	32	,	,	PUNCT
fsr-3458	198	33	20	20	NUM
fsr-3458	198	34	years	year	NOUN
fsr-3458	198	35	for	for	ADP
fsr-3458	198	36	the	the	DET
fsr-3458	198	37	client	client	NOUN
fsr-3458	198	38	transitioning	transition	VERB
fsr-3458	198	39	to	to	ADP
fsr-3458	198	40	retirement	retirement	NOUN
fsr-3458	198	41	(	(	PUNCT
fsr-3458	198	42	transition	transition	NOUN
fsr-3458	198	43	phase	phase	NOUN
fsr-3458	198	44	)	)	PUNCT
fsr-3458	198	45	,	,	PUNCT
fsr-3458	198	46	and	and	CCONJ
fsr-3458	198	47	10	10	NUM
fsr-3458	198	48	years	year	NOUN
fsr-3458	198	49	for	for	ADP
fsr-3458	198	50	the	the	DET
fsr-3458	198	51	retired	retire	VERB
fsr-3458	198	52	client	client	NOUN
fsr-3458	198	53	(	(	PUNCT
fsr-3458	198	54	spending	spending	NOUN
fsr-3458	198	55	phase	phase	NOUN
fsr-3458	198	56	)	)	PUNCT
fsr-3458	198	57	.	.	PUNCT
fsr-3458	199	1	essentially	essentially	ADV
fsr-3458	199	2	,	,	PUNCT
fsr-3458	199	3	we	we	PRON
fsr-3458	199	4	construct	construct	VERB
fsr-3458	199	5	our	our	PRON
fsr-3458	199	6	cdfs	cdfs	NOUN
fsr-3458	199	7	by	by	ADP
fsr-3458	199	8	first	first	ADV
fsr-3458	199	9	setting	set	VERB
fsr-3458	199	10	the	the	DET
fsr-3458	199	11	i	i	PROPN
fsr-3458	199	12	m	m	PROPN
fsr-3458	199	13	fee	fee	NOUN
fsr-3458	199	14	component	component	NOUN
fsr-3458	199	15	comparable	comparable	ADJ
fsr-3458	199	16	to	to	ADP
fsr-3458	199	17	robo	robo	NOUN
fsr-3458	199	18	-	-	PUNCT
fsr-3458	199	19	advisors	advisor	NOUN
fsr-3458	199	20	as	as	SCONJ
fsr-3458	199	21	discussed	discuss	VERB
fsr-3458	199	22	above	above	ADV
fsr-3458	199	23	.	.	PUNCT
fsr-3458	200	1	we	we	PRON
fsr-3458	200	2	then	then	ADV
fsr-3458	200	3	consider	consider	VERB
fsr-3458	200	4	a	a	DET
fsr-3458	200	5	first	first	ADJ
fsr-3458	200	6	-	-	PUNCT
fsr-3458	200	7	year	year	NOUN
fsr-3458	200	8	planning	planning	NOUN
fsr-3458	200	9	fee	fee	NOUN
fsr-3458	200	10	that	that	PRON
fsr-3458	200	11	when	when	SCONJ
fsr-3458	200	12	added	add	VERB
fsr-3458	200	13	to	to	ADP
fsr-3458	200	14	the	the	DET
fsr-3458	200	15	i	i	PROPN
fsr-3458	200	16	m	m	PROPN
fsr-3458	200	17	fee	fee	NOUN
fsr-3458	200	18	,	,	PUNCT
fsr-3458	200	19	is	be	AUX
fsr-3458	200	20	equivalent	equivalent	ADJ
fsr-3458	200	21	to	to	ADP
fsr-3458	200	22	the	the	DET
fsr-3458	200	23	typical	typical	ADJ
fsr-3458	200	24	aum	aum	PROPN
fsr-3458	200	25	fee	fee	NOUN
fsr-3458	200	26	found	find	VERB
fsr-3458	200	27	in	in	ADP
fsr-3458	200	28	the	the	DET
fsr-3458	200	29	industry	industry	NOUN
fsr-3458	200	30	.	.	PUNCT
fsr-3458	201	1	we	we	PRON
fsr-3458	201	2	then	then	ADV
fsr-3458	201	3	run	run	VERB
fsr-3458	201	4	a	a	DET
fsr-3458	201	5	simulation	simulation	NOUN
fsr-3458	201	6	to	to	PART
fsr-3458	201	7	examine	examine	VERB
fsr-3458	201	8	the	the	DET
fsr-3458	201	9	behavior	behavior	NOUN
fsr-3458	201	10	of	of	ADP
fsr-3458	201	11	the	the	DET
fsr-3458	201	12	component	component	NOUN
fsr-3458	201	13	fees	fee	NOUN
fsr-3458	201	14	over	over	ADP
fsr-3458	201	15	various	various	ADJ
fsr-3458	201	16	investment	investment	NOUN
fsr-3458	201	17	periods	period	NOUN
fsr-3458	201	18	,	,	PUNCT
fsr-3458	201	19	recalling	recall	VERB
fsr-3458	201	20	that	that	SCONJ
fsr-3458	201	21	the	the	DET
fsr-3458	201	22	planning	planning	NOUN
fsr-3458	201	23	fee	fee	NOUN
fsr-3458	201	24	is	be	AUX
fsr-3458	201	25	adjusted	adjust	VERB
fsr-3458	201	26	downward	downward	ADV
fsr-3458	201	27	in	in	ADP
fsr-3458	201	28	year	year	NOUN
fsr-3458	201	29	two	two	NUM
fsr-3458	201	30	in	in	ADP
fsr-3458	201	31	our	our	PRON
fsr-3458	201	32	initial	initial	ADJ
fsr-3458	201	33	illustration	illustration	NOUN
fsr-3458	201	34	.	.	PUNCT
fsr-3458	202	1	running	run	VERB
fsr-3458	202	2	the	the	DET
fsr-3458	202	3	simulation	simulation	NOUN
fsr-3458	202	4	over	over	ADP
fsr-3458	202	5	time	time	NOUN
fsr-3458	202	6	requires	require	VERB
fsr-3458	202	7	some	some	DET
fsr-3458	202	8	further	further	ADJ
fsr-3458	202	9	assumptions	assumption	NOUN
fsr-3458	202	10	:	:	PUNCT
fsr-3458	202	11	•	•	NOUN
fsr-3458	202	12	recall	recall	VERB
fsr-3458	202	13	a	a	DET
fsr-3458	202	14	clients	client	NOUN
fsr-3458	202	15	’	’	PART
fsr-3458	202	16	total	total	ADJ
fsr-3458	202	17	wealth	wealth	NOUN
fsr-3458	202	18	is	be	AUX
fsr-3458	202	19	represented	represent	VERB
fsr-3458	202	20	by	by	ADP
fsr-3458	202	21	their	their	PRON
fsr-3458	202	22	net	net	ADJ
fsr-3458	202	23	worth	worth	NOUN
fsr-3458	202	24	(	(	PUNCT
fsr-3458	202	25	nw	nw	NOUN
fsr-3458	202	26	)	)	PUNCT
fsr-3458	202	27	.	.	PUNCT
fsr-3458	203	1	•	•	NUM
fsr-3458	203	2	to	to	PART
fsr-3458	203	3	recognize	recognize	VERB
fsr-3458	203	4	the	the	DET
fsr-3458	203	5	positive	positive	ADJ
fsr-3458	203	6	relationship	relationship	NOUN
fsr-3458	203	7	between	between	ADP
fsr-3458	203	8	investment	investment	NOUN
fsr-3458	203	9	horizon	horizon	NOUN
fsr-3458	203	10	and	and	CCONJ
fsr-3458	203	11	portfolio	portfolio	NOUN
fsr-3458	203	12	riskiness	riskiness	NOUN
fsr-3458	203	13	,	,	PUNCT
fsr-3458	203	14	the	the	DET
fsr-3458	203	15	initial	initial	ADJ
fsr-3458	203	16	asset	asset	NOUN
fsr-3458	203	17	allocation	allocation	NOUN
fsr-3458	203	18	of	of	ADP
fsr-3458	203	19	the	the	DET
fsr-3458	203	20	i	i	PROPN
fsr-3458	203	21	m	m	PROPN
fsr-3458	203	22	portion	portion	NOUN
fsr-3458	203	23	of	of	ADP
fsr-3458	203	24	the	the	DET
fsr-3458	203	25	client	client	NOUN
fsr-3458	203	26	’s	’s	PART
fsr-3458	203	27	nw	nw	PROPN
fsr-3458	203	28	is	be	AUX
fsr-3458	203	29	assumed	assume	VERB
fsr-3458	203	30	to	to	PART
fsr-3458	203	31	differ	differ	VERB
fsr-3458	203	32	among	among	ADP
fsr-3458	203	33	these	these	DET
fsr-3458	203	34	three	three	NUM
fsr-3458	203	35	profiles	profile	NOUN
fsr-3458	203	36	.	.	PUNCT
fsr-3458	204	1	for	for	ADP
fsr-3458	204	2	the	the	DET
fsr-3458	204	3	i	i	PROPN
fsr-3458	204	4	m	m	PROPN
fsr-3458	204	5	component	component	NOUN
fsr-3458	204	6	of	of	ADP
fsr-3458	204	7	the	the	DET
fsr-3458	204	8	portfolio	portfolio	NOUN
fsr-3458	204	9	we	we	PRON
fsr-3458	204	10	generate	generate	VERB
fsr-3458	204	11	a	a	DET
fsr-3458	204	12	generic	generic	ADJ
fsr-3458	204	13	stock	stock	NOUN
fsr-3458	204	14	/	/	SYM
fsr-3458	204	15	bond	bond	NOUN
fsr-3458	204	16	allocation	allocation	NOUN
fsr-3458	204	17	of	of	ADP
fsr-3458	204	18	80/	80/	NUM
fsr-3458	204	19	20	20	NUM
fsr-3458	204	20	,	,	PUNCT
fsr-3458	204	21	60/40	60/40	NUM
fsr-3458	204	22	,	,	PUNCT
fsr-3458	204	23	and	and	CCONJ
fsr-3458	204	24	40/60	40/60	NUM
fsr-3458	204	25	for	for	ADP
fsr-3458	204	26	our	our	PRON
fsr-3458	204	27	respective	respective	ADJ
fsr-3458	204	28	clients	client	NOUN
fsr-3458	204	29	.	.	PUNCT
fsr-3458	205	1	•	•	NUM
fsr-3458	205	2	a	a	DET
fsr-3458	205	3	client	client	NOUN
fsr-3458	205	4	’s	’s	PART
fsr-3458	205	5	nw	nw	PROPN
fsr-3458	205	6	is	be	AUX
fsr-3458	205	7	comprised	comprise	VERB
fsr-3458	205	8	of	of	ADP
fsr-3458	205	9	aum	aum	NOUN
fsr-3458	205	10	assets	asset	NOUN
fsr-3458	205	11	(	(	PUNCT
fsr-3458	205	12	modeled	model	VERB
fsr-3458	205	13	with	with	ADP
fsr-3458	205	14	stocks	stock	NOUN
fsr-3458	205	15	and	and	CCONJ
fsr-3458	205	16	bonds	bond	NOUN
fsr-3458	205	17	and	and	CCONJ
fsr-3458	205	18	denoted	denote	VERB
fsr-3458	205	19	by	by	ADP
fsr-3458	205	20	i	i	PROPN
fsr-3458	205	21	m	m	PROPN
fsr-3458	205	22	)	)	PUNCT
fsr-3458	205	23	and	and	CCONJ
fsr-3458	205	24	other	other	ADJ
fsr-3458	205	25	assets	asset	NOUN
fsr-3458	205	26	.	.	PUNCT
fsr-3458	206	1	these	these	DET
fsr-3458	206	2	other	other	ADJ
fsr-3458	206	3	assets	asset	NOUN
fsr-3458	206	4	are	be	AUX
fsr-3458	206	5	modeled	model	VERB
fsr-3458	206	6	to	to	PART
fsr-3458	206	7	be	be	AUX
fsr-3458	206	8	initially	initially	ADV
fsr-3458	206	9	split	split	VERB
fsr-3458	206	10	evenly	evenly	ADV
fsr-3458	206	11	between	between	ADP
fsr-3458	206	12	real	real	ADJ
fsr-3458	206	13	estate	estate	NOUN
fsr-3458	206	14	(	(	PUNCT
fsr-3458	206	15	re	re	NOUN
fsr-3458	206	16	)	)	PUNCT
fsr-3458	206	17	and	and	CCONJ
fsr-3458	206	18	private	private	ADJ
fsr-3458	206	19	equity	equity	NOUN
fsr-3458	206	20	(	(	PUNCT
fsr-3458	206	21	pe	pe	NOUN
fsr-3458	206	22	)	)	PUNCT
fsr-3458	206	23	asset	asset	NOUN
fsr-3458	206	24	classes	class	NOUN
fsr-3458	206	25	(	(	PUNCT
fsr-3458	206	26	representing	represent	VERB
fsr-3458	206	27	home	home	NOUN
fsr-3458	206	28	ownership	ownership	NOUN
fsr-3458	206	29	and	and	CCONJ
fsr-3458	206	30	small	small	ADJ
fsr-3458	206	31	business	business	NOUN
fsr-3458	206	32	interests	interest	NOUN
fsr-3458	206	33	,	,	PUNCT
fsr-3458	206	34	respectively	respectively	ADV
fsr-3458	206	35	)	)	PUNCT
fsr-3458	206	36	.	.	PUNCT
fsr-3458	207	1	•	•	NUM
fsr-3458	207	2	portfolios	portfolio	NOUN
fsr-3458	207	3	are	be	AUX
fsr-3458	207	4	rebalanced	rebalance	VERB
fsr-3458	207	5	annually	annually	ADV
fsr-3458	207	6	back	back	ADV
fsr-3458	207	7	to	to	ADP
fsr-3458	207	8	the	the	DET
fsr-3458	207	9	original	original	ADJ
fsr-3458	207	10	weights	weight	NOUN
fsr-3458	207	11	,	,	PUNCT
fsr-3458	207	12	but	but	CCONJ
fsr-3458	207	13	only	only	ADV
fsr-3458	207	14	for	for	ADP
fsr-3458	207	15	stocks	stock	NOUN
fsr-3458	207	16	and	and	CCONJ
fsr-3458	207	17	bonds	bond	NOUN
fsr-3458	207	18	.	.	PUNCT
fsr-3458	208	1	because	because	SCONJ
fsr-3458	208	2	real	real	ADJ
fsr-3458	208	3	estate	estate	NOUN
fsr-3458	208	4	and	and	CCONJ
fsr-3458	208	5	private	private	ADJ
fsr-3458	208	6	equity	equity	NOUN
fsr-3458	208	7	are	be	AUX
fsr-3458	208	8	less	less	ADV
fsr-3458	208	9	liquid	liquid	ADJ
fsr-3458	208	10	and	and	CCONJ
fsr-3458	208	11	likely	likely	ADV
fsr-3458	208	12	held	hold	VERB
fsr-3458	208	13	longer	long	ADV
fsr-3458	208	14	,	,	PUNCT
fsr-3458	208	15	they	they	PRON
fsr-3458	208	16	are	be	AUX
fsr-3458	208	17	not	not	PART
fsr-3458	208	18	rebalanced	rebalance	VERB
fsr-3458	208	19	but	but	CCONJ
fsr-3458	208	20	instead	instead	ADV
fsr-3458	208	21	left	leave	VERB
fsr-3458	208	22	to	to	ADP
fsr-3458	208	23	“	"	PUNCT
fsr-3458	208	24	drift	drift	VERB
fsr-3458	208	25	”	"	PUNCT
fsr-3458	208	26	with	with	ADP
fsr-3458	208	27	their	their	PRON
fsr-3458	208	28	associated	associate	VERB
fsr-3458	208	29	returns.3	returns.3	NOUN
fsr-3458	208	30	to	to	PART
fsr-3458	208	31	calculate	calculate	VERB
fsr-3458	208	32	fees	fee	NOUN
fsr-3458	208	33	,	,	PUNCT
fsr-3458	208	34	we	we	PRON
fsr-3458	208	35	simulate	simulate	VERB
fsr-3458	208	36	returns	return	NOUN
fsr-3458	208	37	of	of	ADP
fsr-3458	208	38	the	the	DET
fsr-3458	208	39	four	four	NUM
fsr-3458	208	40	asset	asset	NOUN
fsr-3458	208	41	classes	class	NOUN
fsr-3458	208	42	using	use	VERB
fsr-3458	208	43	the	the	DET
fsr-3458	208	44	j.p	j.p	PROPN
fsr-3458	208	45	morgan	morgan	PROPN
fsr-3458	208	46	(	(	PUNCT
fsr-3458	208	47	jpm	jpm	PROPN
fsr-3458	208	48	)	)	PUNCT
fsr-3458	208	49	2020	2020	NUM
fsr-3458	208	50	market	market	NOUN
fsr-3458	208	51	forecast	forecast	NOUN
fsr-3458	208	52	values	value	NOUN
fsr-3458	208	53	for	for	ADP
fsr-3458	208	54	returns	return	NOUN
fsr-3458	208	55	,	,	PUNCT
fsr-3458	208	56	risk	risk	NOUN
fsr-3458	208	57	,	,	PUNCT
fsr-3458	208	58	and	and	CCONJ
fsr-3458	208	59	pairwise	pairwise	NOUN
fsr-3458	208	60	correlation	correlation	NOUN
fsr-3458	208	61	between	between	ADP
fsr-3458	208	62	these	these	DET
fsr-3458	208	63	asset	asset	NOUN
fsr-3458	208	64	classes	class	NOUN
fsr-3458	208	65	.	.	PUNCT
fsr-3458	209	1	•	•	ADP
fsr-3458	209	2	to	to	PART
fsr-3458	209	3	ensure	ensure	VERB
fsr-3458	209	4	proper	proper	ADJ
fsr-3458	209	5	return	return	NOUN
fsr-3458	209	6	co	co	NOUN
fsr-3458	209	7	-	-	NOUN
fsr-3458	209	8	movement	movement	NOUN
fsr-3458	209	9	,	,	PUNCT
fsr-3458	209	10	we	we	PRON
fsr-3458	209	11	utilize	utilize	VERB
fsr-3458	209	12	a	a	DET
fsr-3458	209	13	cholesky	cholesky	ADJ
fsr-3458	209	14	decomposition	decomposition	NOUN
fsr-3458	209	15	to	to	PART
fsr-3458	209	16	generate	generate	VERB
fsr-3458	209	17	the	the	DET
fsr-3458	209	18	respective	respective	ADJ
fsr-3458	209	19	asset	asset	NOUN
fsr-3458	209	20	class	class	NOUN
fsr-3458	209	21	returns	return	NOUN
fsr-3458	209	22	over	over	ADP
fsr-3458	209	23	time	time	NOUN
fsr-3458	209	24	.	.	PUNCT
fsr-3458	210	1	table	table	NOUN
fsr-3458	210	2	2	2	NUM
fsr-3458	210	3	shows	show	VERB
fsr-3458	210	4	the	the	DET
fsr-3458	210	5	target	target	NOUN
fsr-3458	210	6	return	return	NOUN
fsr-3458	210	7	,	,	PUNCT
fsr-3458	210	8	risk	risk	NOUN
fsr-3458	210	9	,	,	PUNCT
fsr-3458	210	10	and	and	CCONJ
fsr-3458	210	11	correlation	correlation	NOUN
fsr-3458	210	12	values	value	NOUN
fsr-3458	210	13	for	for	ADP
fsr-3458	210	14	the	the	DET
fsr-3458	210	15	asset	asset	NOUN
fsr-3458	210	16	classes	class	NOUN
fsr-3458	210	17	investigated	investigate	VERB
fsr-3458	210	18	here	here	ADV
fsr-3458	210	19	over	over	ADP
fsr-3458	210	20	a	a	DET
fsr-3458	210	21	10	10	NUM
fsr-3458	210	22	-	-	PUNCT
fsr-3458	210	23	year	year	NOUN
fsr-3458	210	24	period	period	NOUN
fsr-3458	210	25	,	,	PUNCT
fsr-3458	210	26	as	as	ADV
fsr-3458	210	27	well	well	ADV
fsr-3458	210	28	as	as	ADP
fsr-3458	210	29	the	the	DET
fsr-3458	210	30	distribution	distribution	NOUN
fsr-3458	210	31	of	of	ADP
fsr-3458	210	32	the	the	DET
fsr-3458	210	33	mean	mean	ADJ
fsr-3458	210	34	values	value	NOUN
fsr-3458	210	35	for	for	ADP
fsr-3458	210	36	these	these	DET
fsr-3458	210	37	statistical	statistical	ADJ
fsr-3458	210	38	properties	property	NOUN
fsr-3458	210	39	over	over	ADP
fsr-3458	210	40	the	the	DET
fsr-3458	210	41	relevant	relevant	ADJ
fsr-3458	210	42	time	time	NOUN
fsr-3458	210	43	periods	period	NOUN
fsr-3458	210	44	using	use	VERB
fsr-3458	210	45	10,000	10,000	NUM
fsr-3458	210	46	monte	monte	PROPN
fsr-3458	210	47	carlo	carlo	PROPN
fsr-3458	210	48	runs.4	runs.4	PROPN
fsr-3458	210	49	again	again	ADV
fsr-3458	210	50	,	,	PUNCT
fsr-3458	210	51	the	the	DET
fsr-3458	210	52	intent	intent	NOUN
fsr-3458	210	53	of	of	ADP
fsr-3458	210	54	our	our	PRON
fsr-3458	210	55	analysis	analysis	NOUN
fsr-3458	210	56	is	be	AUX
fsr-3458	210	57	not	not	PART
fsr-3458	210	58	to	to	PART
fsr-3458	210	59	generate	generate	VERB
fsr-3458	210	60	a	a	DET
fsr-3458	210	61	debate	debate	NOUN
fsr-3458	210	62	about	about	ADP
fsr-3458	210	63	the	the	DET
fsr-3458	210	64	specific	specific	ADJ
fsr-3458	210	65	fee	fee	NOUN
fsr-3458	210	66	levels	level	NOUN
fsr-3458	210	67	or	or	CCONJ
fsr-3458	210	68	breakpoints	breakpoint	NOUN
fsr-3458	210	69	selected	select	VERB
fsr-3458	210	70	;	;	PUNCT
fsr-3458	210	71	we	we	PRON
fsr-3458	210	72	use	use	VERB
fsr-3458	210	73	what	what	PRON
fsr-3458	210	74	we	we	PRON
fsr-3458	210	75	believe	believe	VERB
fsr-3458	210	76	to	to	PART
fsr-3458	210	77	be	be	AUX
fsr-3458	210	78	within	within	ADP
fsr-3458	210	79	the	the	DET
fsr-3458	210	80	range	range	NOUN
fsr-3458	210	81	of	of	ADP
fsr-3458	210	82	fees	fee	NOUN
fsr-3458	210	83	generally	generally	ADV
fsr-3458	210	84	representative	representative	VERB
fsr-3458	210	85	of	of	ADP
fsr-3458	210	86	the	the	DET
fsr-3458	210	87	industry	industry	NOUN
fsr-3458	210	88	.	.	PUNCT
fsr-3458	211	1	instead	instead	ADV
fsr-3458	211	2	,	,	PUNCT
fsr-3458	211	3	the	the	DET
fsr-3458	211	4	focus	focus	NOUN
fsr-3458	211	5	of	of	ADP
fsr-3458	211	6	this	this	DET
fsr-3458	211	7	investigation	investigation	NOUN
fsr-3458	211	8	is	be	AUX
fsr-3458	211	9	to	to	PART
fsr-3458	211	10	introduce	introduce	VERB
fsr-3458	211	11	a	a	DET
fsr-3458	211	12	framework	framework	NOUN
fsr-3458	211	13	s.	s.	PROPN
fsr-3458	211	14	p.	p.	PROPN
fsr-3458	211	15	fraser	fraser	PROPN
fsr-3458	211	16	et	et	PROPN
fsr-3458	212	1	al	al	PROPN
fsr-3458	212	2	.	.	PUNCT
fsr-3458	212	3	/	/	SYM
fsr-3458	212	4	financial	financial	ADJ
fsr-3458	212	5	services	service	NOUN
fsr-3458	212	6	review	review	VERB
fsr-3458	212	7	29	29	NUM
fsr-3458	212	8	(	(	PUNCT
fsr-3458	212	9	2021	2021	NUM
fsr-3458	212	10	)	)	PUNCT
fsr-3458	212	11	227–245	227–245	NUM
fsr-3458	212	12	235	235	NUM
fsr-3458	212	13	and	and	CCONJ
fsr-3458	212	14	mechanism	mechanism	NOUN
fsr-3458	212	15	for	for	ADP
fsr-3458	212	16	truly	truly	ADV
fsr-3458	212	17	valuing	value	VERB
fsr-3458	212	18	the	the	DET
fsr-3458	212	19	financial	financial	ADJ
fsr-3458	212	20	advising	advise	VERB
fsr-3458	212	21	expertise	expertise	NOUN
fsr-3458	212	22	that	that	PRON
fsr-3458	212	23	planners	planner	NOUN
fsr-3458	212	24	provide	provide	VERB
fsr-3458	212	25	to	to	ADP
fsr-3458	212	26	clients	client	NOUN
fsr-3458	212	27	,	,	PUNCT
fsr-3458	212	28	separate	separate	ADJ
fsr-3458	212	29	from	from	ADP
fsr-3458	212	30	the	the	DET
fsr-3458	212	31	oft	oft	ADV
fsr-3458	212	32	-	-	PUNCT
fsr-3458	212	33	used	use	VERB
fsr-3458	212	34	single	single	ADJ
fsr-3458	212	35	aum	aum	PROPN
fsr-3458	212	36	fee	fee	NOUN
fsr-3458	212	37	that	that	PRON
fsr-3458	212	38	likely	likely	ADV
fsr-3458	212	39	subsumes	subsume	VERB
fsr-3458	212	40	a	a	DET
fsr-3458	212	41	financial	financial	ADJ
fsr-3458	212	42	planning	planning	NOUN
fsr-3458	212	43	effort	effort	NOUN
fsr-3458	212	44	,	,	PUNCT
fsr-3458	212	45	and	and	CCONJ
fsr-3458	212	46	observe	observe	VERB
fsr-3458	212	47	the	the	DET
fsr-3458	212	48	behavior	behavior	NOUN
fsr-3458	212	49	of	of	ADP
fsr-3458	212	50	the	the	DET
fsr-3458	212	51	component	component	NOUN
fsr-3458	212	52	fees	fee	NOUN
fsr-3458	212	53	over	over	ADP
fsr-3458	212	54	time	time	NOUN
fsr-3458	212	55	.	.	PUNCT
fsr-3458	213	1	4	4	X
fsr-3458	213	2	.	.	X
fsr-3458	213	3	results	result	NOUN
fsr-3458	213	4	in	in	ADP
fsr-3458	213	5	this	this	DET
fsr-3458	213	6	section	section	NOUN
fsr-3458	213	7	we	we	PRON
fsr-3458	213	8	report	report	VERB
fsr-3458	213	9	the	the	DET
fsr-3458	213	10	results	result	NOUN
fsr-3458	213	11	of	of	ADP
fsr-3458	213	12	our	our	PRON
fsr-3458	213	13	dual	dual	ADJ
fsr-3458	213	14	fee	fee	NOUN
fsr-3458	213	15	analysis	analysis	NOUN
fsr-3458	213	16	both	both	PRON
fsr-3458	213	17	initially	initially	ADV
fsr-3458	213	18	,	,	PUNCT
fsr-3458	213	19	and	and	CCONJ
fsr-3458	213	20	over	over	ADP
fsr-3458	213	21	a	a	PRON
fsr-3458	213	22	longer	long	ADV
fsr-3458	213	23	investing	investing	NOUN
fsr-3458	213	24	period	period	NOUN
fsr-3458	213	25	.	.	PUNCT
fsr-3458	214	1	table	table	NOUN
fsr-3458	214	2	3	3	NUM
fsr-3458	214	3	shows	show	VERB
fsr-3458	214	4	the	the	DET
fsr-3458	214	5	impacts	impact	NOUN
fsr-3458	214	6	of	of	ADP
fsr-3458	214	7	the	the	DET
fsr-3458	214	8	fee	fee	NOUN
fsr-3458	214	9	breakpoints	breakpoint	NOUN
fsr-3458	214	10	and	and	CCONJ
fsr-3458	214	11	values	value	NOUN
fsr-3458	214	12	we	we	PRON
fsr-3458	214	13	depict	depict	VERB
fsr-3458	214	14	in	in	ADP
fsr-3458	214	15	table	table	NOUN
fsr-3458	214	16	1	1	NUM
fsr-3458	214	17	,	,	PUNCT
fsr-3458	214	18	as	as	ADP
fsr-3458	214	19	a	a	DET
fsr-3458	214	20	snapshot	snapshot	NOUN
fsr-3458	214	21	at	at	ADP
fsr-3458	214	22	the	the	DET
fsr-3458	214	23	initial	initial	ADJ
fsr-3458	214	24	planning	planning	NOUN
fsr-3458	214	25	point	point	NOUN
fsr-3458	214	26	in	in	ADP
fsr-3458	214	27	time	time	NOUN
fsr-3458	214	28	.	.	PUNCT
fsr-3458	215	1	specifically	specifically	ADV
fsr-3458	215	2	,	,	PUNCT
fsr-3458	215	3	based	base	VERB
fsr-3458	215	4	on	on	ADP
fsr-3458	215	5	the	the	DET
fsr-3458	215	6	simple	simple	ADJ
fsr-3458	215	7	u	u	NOUN
fsr-3458	215	8	structure	structure	NOUN
fsr-3458	215	9	proposed	propose	VERB
fsr-3458	215	10	,	,	PUNCT
fsr-3458	215	11	it	it	PRON
fsr-3458	215	12	quantifies	quantify	VERB
fsr-3458	215	13	the	the	DET
fsr-3458	215	14	annual	annual	ADJ
fsr-3458	215	15	fees	fee	NOUN
fsr-3458	215	16	clients	client	NOUN
fsr-3458	215	17	would	would	AUX
fsr-3458	215	18	pay	pay	VERB
fsr-3458	215	19	(	(	PUNCT
fsr-3458	215	20	and	and	CCONJ
fsr-3458	215	21	planners	planner	NOUN
fsr-3458	215	22	would	would	AUX
fsr-3458	215	23	receive	receive	VERB
fsr-3458	215	24	)	)	PUNCT
fsr-3458	215	25	under	under	ADP
fsr-3458	215	26	the	the	DET
fsr-3458	215	27	cdfs	cdfs	PROPN
fsr-3458	215	28	(	(	PUNCT
fsr-3458	215	29	nw	nw	INTJ
fsr-3458	215	30	and	and	CCONJ
fsr-3458	215	31	i	i	NOUN
fsr-3458	215	32	m	m	PROPN
fsr-3458	215	33	)	)	PUNCT
fsr-3458	215	34	versus	versus	ADP
fsr-3458	215	35	the	the	DET
fsr-3458	215	36	fee	fee	NOUN
fsr-3458	215	37	-	-	PUNCT
fsr-3458	215	38	only	only	ADJ
fsr-3458	215	39	structure	structure	NOUN
fsr-3458	215	40	(	(	PUNCT
fsr-3458	215	41	aum	aum	NOUN
fsr-3458	215	42	)	)	PUNCT
fsr-3458	215	43	in	in	ADP
fsr-3458	215	44	those	those	DET
fsr-3458	215	45	respective	respective	ADJ
fsr-3458	215	46	rows	row	NOUN
fsr-3458	215	47	per	per	ADP
fsr-3458	215	48	eqs	eqs	PROPN
fsr-3458	215	49	.	.	PUNCT
fsr-3458	216	1	(	(	PUNCT
fsr-3458	216	2	6	6	NUM
fsr-3458	216	3	)	)	PUNCT
fsr-3458	216	4	and	and	CCONJ
fsr-3458	216	5	(	(	PUNCT
fsr-3458	216	6	7	7	NUM
fsr-3458	216	7	)	)	PUNCT
fsr-3458	216	8	.	.	PUNCT
fsr-3458	217	1	once	once	ADV
fsr-3458	217	2	again	again	ADV
fsr-3458	217	3	,	,	PUNCT
fsr-3458	217	4	while	while	SCONJ
fsr-3458	217	5	client	client	NOUN
fsr-3458	217	6	profiles	profile	NOUN
fsr-3458	217	7	are	be	AUX
fsr-3458	217	8	literally	literally	ADV
fsr-3458	217	9	limitless	limitless	ADJ
fsr-3458	217	10	,	,	PUNCT
fsr-3458	217	11	we	we	PRON
fsr-3458	217	12	present	present	VERB
fsr-3458	217	13	three	three	NUM
fsr-3458	217	14	different	different	ADJ
fsr-3458	217	15	profiles	profile	NOUN
fsr-3458	217	16	for	for	ADP
fsr-3458	217	17	illustration	illustration	NOUN
fsr-3458	217	18	purposes	purpose	NOUN
fsr-3458	217	19	:	:	PUNCT
fsr-3458	217	20	those	those	PRON
fsr-3458	217	21	in	in	ADP
fsr-3458	217	22	preretirement	preretirement	NOUN
fsr-3458	217	23	(	(	PUNCT
fsr-3458	217	24	accumulation	accumulation	NOUN
fsr-3458	217	25	)	)	PUNCT
fsr-3458	217	26	,	,	PUNCT
fsr-3458	217	27	transition	transition	NOUN
fsr-3458	217	28	(	(	PUNCT
fsr-3458	217	29	approaching	approach	VERB
fsr-3458	217	30	retirement	retirement	NOUN
fsr-3458	217	31	soon	soon	ADV
fsr-3458	217	32	)	)	PUNCT
fsr-3458	217	33	,	,	PUNCT
fsr-3458	217	34	and	and	CCONJ
fsr-3458	217	35	spending	spending	NOUN
fsr-3458	217	36	(	(	PUNCT
fsr-3458	217	37	in	in	ADP
fsr-3458	217	38	retirement	retirement	NOUN
fsr-3458	217	39	)	)	PUNCT
fsr-3458	217	40	phases	phase	NOUN
fsr-3458	217	41	.	.	PUNCT
fsr-3458	218	1	within	within	ADP
fsr-3458	218	2	each	each	PRON
fsr-3458	218	3	of	of	ADP
fsr-3458	218	4	those	those	DET
fsr-3458	218	5	profiles	profile	NOUN
fsr-3458	218	6	,	,	PUNCT
fsr-3458	218	7	we	we	PRON
fsr-3458	218	8	further	far	ADV
fsr-3458	218	9	analyze	analyze	VERB
fsr-3458	218	10	three	three	NUM
fsr-3458	218	11	different	different	ADJ
fsr-3458	218	12	ratios	ratio	NOUN
fsr-3458	218	13	of	of	ADP
fsr-3458	218	14	nw	nw	PROPN
fsr-3458	218	15	to	to	ADP
fsr-3458	218	16	i	i	PRON
fsr-3458	218	17	m	m	VERB
fsr-3458	218	18	for	for	ADP
fsr-3458	218	19	a	a	DET
fsr-3458	218	20	total	total	NOUN
fsr-3458	218	21	of	of	ADP
fsr-3458	218	22	nine	nine	NUM
fsr-3458	218	23	potential	potential	ADJ
fsr-3458	218	24	client	client	NOUN
fsr-3458	218	25	scenarios	scenario	NOUN
fsr-3458	218	26	.	.	PUNCT
fsr-3458	219	1	as	as	ADP
fsr-3458	219	2	one	one	NUM
fsr-3458	219	3	example	example	NOUN
fsr-3458	219	4	,	,	PUNCT
fsr-3458	219	5	client	client	NOUN
fsr-3458	219	6	a	a	PRON
fsr-3458	219	7	is	be	AUX
fsr-3458	219	8	assumed	assume	VERB
fsr-3458	219	9	to	to	PART
fsr-3458	219	10	be	be	AUX
fsr-3458	219	11	in	in	ADP
fsr-3458	219	12	the	the	DET
fsr-3458	219	13	accumulation	accumulation	NOUN
fsr-3458	219	14	phase	phase	NOUN
fsr-3458	219	15	with	with	ADP
fsr-3458	219	16	a	a	DET
fsr-3458	219	17	nw	nw	NOUN
fsr-3458	219	18	of	of	ADP
fsr-3458	219	19	$	$	SYM
fsr-3458	219	20	600,000	600,000	NUM
fsr-3458	219	21	.	.	PUNCT
fsr-3458	220	1	we	we	PRON
fsr-3458	220	2	then	then	ADV
fsr-3458	220	3	further	far	ADV
fsr-3458	220	4	delineate	delineate	VERB
fsr-3458	220	5	this	this	DET
fsr-3458	220	6	nw	nw	PROPN
fsr-3458	220	7	as	as	SCONJ
fsr-3458	220	8	follows	follow	VERB
fsr-3458	220	9	,	,	PUNCT
fsr-3458	220	10	recalling	recall	VERB
fsr-3458	220	11	that	that	SCONJ
fsr-3458	220	12	aum	aum	PROPN
fsr-3458	220	13	in	in	ADP
fsr-3458	220	14	the	the	DET
fsr-3458	220	15	cdfs	cdfs	PROPN
fsr-3458	220	16	is	be	AUX
fsr-3458	220	17	designated	designate	VERB
fsr-3458	220	18	as	as	ADP
fsr-3458	220	19	i	i	PRON
fsr-3458	220	20	m	m	VERB
fsr-3458	220	21	:	:	PUNCT
fsr-3458	220	22	nw	nw	X
fsr-3458	220	23	=	=	PUNCT
fsr-3458	221	1	i	i	PRON
fsr-3458	221	2	m	m	VERB
fsr-3458	221	3	=	=	SYM
fsr-3458	221	4	$	$	SYM
fsr-3458	221	5	600,000	600,000	NUM
fsr-3458	221	6	(	(	PUNCT
fsr-3458	221	7	column	column	NOUN
fsr-3458	221	8	1	1	NUM
fsr-3458	221	9	)	)	PUNCT
fsr-3458	221	10	,	,	PUNCT
fsr-3458	221	11	nw	nw	PROPN
fsr-3458	221	12	(	(	PUNCT
fsr-3458	221	13	$	$	SYM
fsr-3458	221	14	600,000	600,000	NUM
fsr-3458	221	15	)	)	PUNCT
fsr-3458	221	16	=	=	SYM
fsr-3458	221	17	1.5	1.5	NUM
fsr-3458	221	18	�	�	NOUN
fsr-3458	222	1	i	i	PRON
fsr-3458	222	2	m	m	VERB
fsr-3458	222	3	(	(	PUNCT
fsr-3458	222	4	$	$	SYM
fsr-3458	222	5	400,000	400,000	NUM
fsr-3458	222	6	)	)	PUNCT
fsr-3458	222	7	(	(	PUNCT
fsr-3458	222	8	column	column	NOUN
fsr-3458	222	9	2	2	NUM
fsr-3458	222	10	)	)	PUNCT
fsr-3458	222	11	,	,	PUNCT
fsr-3458	222	12	and	and	CCONJ
fsr-3458	222	13	nw	nw	INTJ
fsr-3458	222	14	(	(	PUNCT
fsr-3458	222	15	$	$	SYM
fsr-3458	222	16	600,000	600,000	NUM
fsr-3458	222	17	)	)	PUNCT
fsr-3458	222	18	=	=	SYM
fsr-3458	222	19	2	2	NUM
fsr-3458	222	20	�	�	NOUN
fsr-3458	223	1	i	i	PRON
fsr-3458	223	2	m	m	VERB
fsr-3458	223	3	(	(	PUNCT
fsr-3458	223	4	$	$	SYM
fsr-3458	223	5	300,000	300,000	NUM
fsr-3458	223	6	)	)	PUNCT
fsr-3458	223	7	(	(	PUNCT
fsr-3458	223	8	column	column	NOUN
fsr-3458	223	9	3	3	NUM
fsr-3458	223	10	)	)	PUNCT
fsr-3458	223	11	.	.	PUNCT
fsr-3458	224	1	the	the	DET
fsr-3458	224	2	portion	portion	NOUN
fsr-3458	224	3	of	of	ADP
fsr-3458	224	4	the	the	DET
fsr-3458	224	5	nw	nw	PROPN
fsr-3458	224	6	portfolio	portfolio	PROPN
fsr-3458	224	7	not	not	PART
fsr-3458	224	8	comprised	comprise	VERB
fsr-3458	224	9	of	of	ADP
fsr-3458	224	10	i	i	PRON
fsr-3458	224	11	m	m	VERB
fsr-3458	224	12	is	be	AUX
fsr-3458	224	13	an	an	DET
fsr-3458	224	14	evenly	evenly	ADV
fsr-3458	224	15	allocated	allocate	VERB
fsr-3458	224	16	between	between	ADP
fsr-3458	224	17	the	the	DET
fsr-3458	224	18	real	real	ADJ
fsr-3458	224	19	estate	estate	NOUN
fsr-3458	224	20	(	(	PUNCT
fsr-3458	224	21	re	re	NOUN
fsr-3458	224	22	)	)	PUNCT
fsr-3458	224	23	and	and	CCONJ
fsr-3458	224	24	private	private	ADJ
fsr-3458	224	25	equity	equity	NOUN
fsr-3458	224	26	(	(	PUNCT
fsr-3458	224	27	pe	pe	NOUN
fsr-3458	224	28	)	)	PUNCT
fsr-3458	224	29	asset	asset	NOUN
fsr-3458	224	30	classes	class	NOUN
fsr-3458	224	31	.	.	PUNCT
fsr-3458	225	1	we	we	PRON
fsr-3458	225	2	contend	contend	VERB
fsr-3458	225	3	—	—	PUNCT
fsr-3458	225	4	with	with	ADP
fsr-3458	225	5	support	support	NOUN
fsr-3458	225	6	from	from	ADP
fsr-3458	225	7	practicing	practice	VERB
fsr-3458	225	8	planners	planner	NOUN
fsr-3458	225	9	—	—	PUNCT
fsr-3458	225	10	that	that	SCONJ
fsr-3458	225	11	the	the	DET
fsr-3458	225	12	i	i	PRON
fsr-3458	225	13	m	m	VERB
fsr-3458	225	14	effort	effort	NOUN
fsr-3458	225	15	is	be	AUX
fsr-3458	225	16	generally	generally	ADV
fsr-3458	225	17	the	the	DET
fsr-3458	225	18	same	same	ADJ
fsr-3458	225	19	among	among	ADP
fsr-3458	225	20	all	all	PRON
fsr-3458	225	21	of	of	ADP
fsr-3458	225	22	these	these	DET
fsr-3458	225	23	client	client	NOUN
fsr-3458	225	24	profiles	profile	NOUN
fsr-3458	225	25	;	;	PUNCT
fsr-3458	225	26	however	however	ADV
fsr-3458	225	27	,	,	PUNCT
fsr-3458	225	28	we	we	PRON
fsr-3458	225	29	also	also	ADV
fsr-3458	225	30	contend	contend	VERB
fsr-3458	225	31	that	that	SCONJ
fsr-3458	225	32	of	of	ADP
fsr-3458	225	33	these	these	DET
fsr-3458	225	34	three	three	NUM
fsr-3458	225	35	client	client	NOUN
fsr-3458	225	36	profiles	profile	NOUN
fsr-3458	225	37	,	,	PUNCT
fsr-3458	225	38	the	the	DET
fsr-3458	225	39	planning	planning	NOUN
fsr-3458	225	40	effort	effort	NOUN
fsr-3458	225	41	is	be	AUX
fsr-3458	225	42	likely	likely	ADJ
fsr-3458	225	43	most	most	ADV
fsr-3458	225	44	complex	complex	ADJ
fsr-3458	225	45	for	for	ADP
fsr-3458	225	46	clients	client	NOUN
fsr-3458	225	47	a3	a3	NOUN
fsr-3458	225	48	,	,	PUNCT
fsr-3458	225	49	b3	b3	PROPN
fsr-3458	225	50	,	,	PUNCT
fsr-3458	225	51	and	and	CCONJ
fsr-3458	225	52	c3	c3	NOUN
fsr-3458	225	53	as	as	SCONJ
fsr-3458	225	54	these	these	DET
fsr-3458	225	55	clients	client	NOUN
fsr-3458	225	56	have	have	VERB
fsr-3458	225	57	asset	asset	NOUN
fsr-3458	225	58	classes	class	NOUN
fsr-3458	225	59	not	not	PART
fsr-3458	225	60	composed	compose	VERB
fsr-3458	225	61	of	of	ADP
fsr-3458	225	62	stocks	stock	NOUN
fsr-3458	225	63	and	and	CCONJ
fsr-3458	225	64	bonds	bond	NOUN
fsr-3458	225	65	that	that	PRON
fsr-3458	225	66	the	the	DET
fsr-3458	225	67	planner	planner	NOUN
fsr-3458	225	68	must	must	AUX
fsr-3458	225	69	consider	consider	VERB
fsr-3458	225	70	when	when	SCONJ
fsr-3458	225	71	developing	develop	VERB
fsr-3458	225	72	a	a	DET
fsr-3458	225	73	holistic	holistic	ADJ
fsr-3458	225	74	financial	financial	ADJ
fsr-3458	225	75	plan	plan	NOUN
fsr-3458	225	76	.	.	PUNCT
fsr-3458	226	1	along	along	ADP
fsr-3458	226	2	similar	similar	ADJ
fsr-3458	226	3	lines	line	NOUN
fsr-3458	226	4	,	,	PUNCT
fsr-3458	226	5	clients	client	NOUN
fsr-3458	226	6	b	b	PROPN
fsr-3458	226	7	and	and	CCONJ
fsr-3458	226	8	c	c	PROPN
fsr-3458	226	9	have	have	VERB
fsr-3458	226	10	higher	high	ADJ
fsr-3458	226	11	nw	nw	NOUN
fsr-3458	226	12	,	,	PUNCT
fsr-3458	226	13	but	but	CCONJ
fsr-3458	226	14	again	again	ADV
fsr-3458	226	15	we	we	PRON
fsr-3458	226	16	offer	offer	VERB
fsr-3458	226	17	the	the	DET
fsr-3458	226	18	possibility	possibility	NOUN
fsr-3458	226	19	that	that	SCONJ
fsr-3458	226	20	their	their	PRON
fsr-3458	226	21	net	net	ADJ
fsr-3458	226	22	worth	worth	NOUN
fsr-3458	226	23	can	can	AUX
fsr-3458	226	24	have	have	AUX
fsr-3458	226	25	varied	varied	ADJ
fsr-3458	226	26	compositions	composition	NOUN
fsr-3458	226	27	in	in	ADP
fsr-3458	226	28	terms	term	NOUN
fsr-3458	226	29	of	of	ADP
fsr-3458	226	30	stocks	stock	NOUN
fsr-3458	226	31	,	,	PUNCT
fsr-3458	226	32	bonds	bond	NOUN
fsr-3458	226	33	,	,	PUNCT
fsr-3458	226	34	real	real	ADJ
fsr-3458	226	35	estate	estate	NOUN
fsr-3458	226	36	,	,	PUNCT
fsr-3458	226	37	and	and	CCONJ
fsr-3458	226	38	private	private	ADJ
fsr-3458	226	39	equity	equity	NOUN
fsr-3458	226	40	analogous	analogous	ADJ
fsr-3458	226	41	to	to	ADP
fsr-3458	226	42	the	the	DET
fsr-3458	226	43	ratios	ratio	NOUN
fsr-3458	226	44	described	describe	VERB
fsr-3458	226	45	for	for	ADP
fsr-3458	226	46	client	client	NOUN
fsr-3458	226	47	a.	a.	NOUN
fsr-3458	226	48	within	within	ADP
fsr-3458	226	49	clients	client	NOUN
fsr-3458	226	50	b	b	PROPN
fsr-3458	226	51	and	and	CCONJ
fsr-3458	226	52	c	c	X
fsr-3458	226	53	,	,	PUNCT
fsr-3458	226	54	we	we	PRON
fsr-3458	226	55	again	again	ADV
fsr-3458	226	56	contend	contend	VERB
fsr-3458	226	57	that	that	SCONJ
fsr-3458	226	58	the	the	DET
fsr-3458	226	59	planning	planning	NOUN
fsr-3458	226	60	effort	effort	NOUN
fsr-3458	226	61	increases	increase	NOUN
fsr-3458	226	62	as	as	ADP
fsr-3458	226	63	the	the	DET
fsr-3458	226	64	aum	aum	PROPN
fsr-3458	226	65	to	to	PART
fsr-3458	226	66	nw	nw	PROPN
fsr-3458	226	67	ratio	ratio	NOUN
fsr-3458	226	68	decreases	decrease	VERB
fsr-3458	226	69	.	.	PUNCT
fsr-3458	227	1	what	what	DET
fsr-3458	227	2	table	table	NOUN
fsr-3458	227	3	3	3	NUM
fsr-3458	227	4	demonstrates	demonstrate	VERB
fsr-3458	227	5	is	be	AUX
fsr-3458	227	6	that	that	SCONJ
fsr-3458	227	7	by	by	ADP
fsr-3458	227	8	assessing	assess	VERB
fsr-3458	227	9	reasonable	reasonable	ADJ
fsr-3458	227	10	(	(	PUNCT
fsr-3458	227	11	and	and	CCONJ
fsr-3458	227	12	consistent	consistent	ADJ
fsr-3458	227	13	)	)	PUNCT
fsr-3458	227	14	i	i	PRON
fsr-3458	227	15	m	m	VERB
fsr-3458	227	16	fee	fee	NOUN
fsr-3458	227	17	structure	structure	NOUN
fsr-3458	227	18	or	or	CCONJ
fsr-3458	227	19	u	u	NOUN
fsr-3458	227	20	,	,	PUNCT
fsr-3458	227	21	under	under	ADP
fsr-3458	227	22	a	a	DET
fsr-3458	227	23	dual	dual	ADJ
fsr-3458	227	24	-	-	PUNCT
fsr-3458	227	25	fee	fee	NOUN
fsr-3458	227	26	structure	structure	NOUN
fsr-3458	227	27	and	and	CCONJ
fsr-3458	227	28	also	also	ADV
fsr-3458	227	29	for	for	ADP
fsr-3458	227	30	a	a	DET
fsr-3458	227	31	fee	fee	NOUN
fsr-3458	227	32	-	-	PUNCT
fsr-3458	227	33	only	only	ADV
fsr-3458	227	34	(	(	PUNCT
fsr-3458	227	35	aum	aum	NOUN
fsr-3458	227	36	)	)	PUNCT
fsr-3458	227	37	structure	structure	NOUN
fsr-3458	227	38	,	,	PUNCT
fsr-3458	227	39	v	v	INTJ
fsr-3458	227	40	,	,	PUNCT
fsr-3458	227	41	as	as	ADP
fsr-3458	227	42	in	in	ADP
fsr-3458	227	43	table	table	NOUN
fsr-3458	227	44	1	1	NUM
fsr-3458	227	45	,	,	PUNCT
fsr-3458	227	46	it	it	PRON
fsr-3458	227	47	is	be	AUX
fsr-3458	227	48	possible	possible	ADJ
fsr-3458	227	49	to	to	PART
fsr-3458	227	50	come	come	VERB
fsr-3458	227	51	up	up	ADP
fsr-3458	227	52	with	with	ADP
fsr-3458	227	53	the	the	DET
fsr-3458	227	54	financial	financial	ADJ
fsr-3458	227	55	planning	planning	NOUN
fsr-3458	227	56	fee	fee	NOUN
fsr-3458	227	57	component	component	NOUN
fsr-3458	227	58	of	of	ADP
fsr-3458	227	59	the	the	DET
fsr-3458	227	60	cdfs	cdfs	PROPN
fsr-3458	227	61	for	for	ADP
fsr-3458	227	62	the	the	DET
fsr-3458	227	63	nw	nw	PROPN
fsr-3458	227	64	portion	portion	NOUN
fsr-3458	227	65	of	of	ADP
fsr-3458	227	66	the	the	DET
fsr-3458	227	67	portfolio	portfolio	NOUN
fsr-3458	227	68	.	.	PUNCT
fsr-3458	228	1	we	we	PRON
fsr-3458	228	2	posit	posit	VERB
fsr-3458	228	3	this	this	DET
fsr-3458	228	4	financial	financial	ADJ
fsr-3458	228	5	planning	planning	NOUN
fsr-3458	228	6	fee	fee	NOUN
fsr-3458	228	7	serves	serve	VERB
fsr-3458	228	8	as	as	ADP
fsr-3458	228	9	a	a	DET
fsr-3458	228	10	proxy	proxy	NOUN
fsr-3458	228	11	for	for	ADP
fsr-3458	228	12	the	the	DET
fsr-3458	228	13	value	value	NOUN
fsr-3458	228	14	of	of	ADP
fsr-3458	228	15	financial	financial	ADJ
fsr-3458	228	16	advice	advice	NOUN
fsr-3458	228	17	.	.	PUNCT
fsr-3458	229	1	specifically	specifically	ADV
fsr-3458	229	2	,	,	PUNCT
fsr-3458	229	3	the	the	DET
fsr-3458	229	4	differences	difference	NOUN
fsr-3458	229	5	among	among	ADP
fsr-3458	229	6	the	the	DET
fsr-3458	229	7	cdfs	cdfs	PROPN
fsr-3458	229	8	are	be	AUX
fsr-3458	229	9	almost	almost	ADV
fsr-3458	229	10	negligible	negligible	ADJ
fsr-3458	229	11	in	in	ADP
fsr-3458	229	12	relation	relation	NOUN
fsr-3458	229	13	to	to	ADP
fsr-3458	229	14	the	the	DET
fsr-3458	229	15	all	all	DET
fsr-3458	229	16	nine	nine	NUM
fsr-3458	229	17	clients	client	NOUN
fsr-3458	229	18	’	'	PUNCT
fsr-3458	229	19	overall	overall	ADJ
fsr-3458	229	20	nw	nw	PROPN
fsr-3458	229	21	(	(	PUNCT
fsr-3458	229	22	see	see	VERB
fsr-3458	229	23	the	the	DET
fsr-3458	229	24	penultimate	penultimate	NOUN
fsr-3458	229	25	row	row	NOUN
fsr-3458	229	26	entitled	entitle	VERB
fsr-3458	229	27	“	"	PUNCT
fsr-3458	229	28	as	as	ADP
fsr-3458	229	29	%	%	NOUN
fsr-3458	229	30	of	of	ADP
fsr-3458	229	31	nw	nw	NOUN
fsr-3458	229	32	”	"	PUNCT
fsr-3458	229	33	for	for	ADP
fsr-3458	229	34	the	the	DET
fsr-3458	229	35	difference	difference	NOUN
fsr-3458	229	36	in	in	ADP
fsr-3458	229	37	the	the	DET
fsr-3458	229	38	cdfs	cdfs	ADJ
fsr-3458	229	39	fee	fee	NOUN
fsr-3458	229	40	vs.	vs.	ADP
fsr-3458	229	41	fee	fee	NOUN
fsr-3458	229	42	-	-	PUNCT
fsr-3458	229	43	only	only	ADJ
fsr-3458	229	44	fee	fee	NOUN
fsr-3458	229	45	)	)	PUNCT
fsr-3458	229	46	.	.	PUNCT
fsr-3458	230	1	notably	notably	ADV
fsr-3458	230	2	,	,	PUNCT
fsr-3458	230	3	these	these	DET
fsr-3458	230	4	percentages	percentage	NOUN
fsr-3458	230	5	monotonically	monotonically	ADV
fsr-3458	230	6	creep	creep	VERB
fsr-3458	230	7	upward	upward	ADV
fsr-3458	230	8	as	as	SCONJ
fsr-3458	230	9	the	the	DET
fsr-3458	230	10	sub	sub	NOUN
fsr-3458	230	11	client	client	NOUN
fsr-3458	230	12	groups	group	NOUN
fsr-3458	230	13	’	’	PART
fsr-3458	230	14	investable	investable	ADJ
fsr-3458	230	15	assets	asset	NOUN
fsr-3458	230	16	diminish	diminish	VERB
fsr-3458	230	17	as	as	ADP
fsr-3458	230	18	a	a	DET
fsr-3458	230	19	fraction	fraction	NOUN
fsr-3458	230	20	of	of	ADP
fsr-3458	230	21	net	net	ADJ
fsr-3458	230	22	worth	worth	NOUN
fsr-3458	230	23	.	.	PUNCT
fsr-3458	231	1	that	that	PRON
fsr-3458	231	2	is	be	AUX
fsr-3458	231	3	,	,	PUNCT
fsr-3458	231	4	as	as	SCONJ
fsr-3458	231	5	nw	nw	PROPN
fsr-3458	231	6	held	hold	VERB
fsr-3458	231	7	outside	outside	ADV
fsr-3458	231	8	of	of	ADP
fsr-3458	231	9	stocks	stock	NOUN
fsr-3458	231	10	and	and	CCONJ
fsr-3458	231	11	bonds	bond	NOUN
fsr-3458	231	12	increases	increase	NOUN
fsr-3458	231	13	,	,	PUNCT
fsr-3458	231	14	so	so	ADV
fsr-3458	231	15	do	do	VERB
fsr-3458	231	16	the	the	DET
fsr-3458	231	17	relative	relative	ADJ
fsr-3458	231	18	fees	fee	NOUN
fsr-3458	231	19	,	,	PUNCT
fsr-3458	231	20	at	at	ADP
fsr-3458	231	21	least	least	ADJ
fsr-3458	231	22	initially	initially	ADV
fsr-3458	231	23	.	.	PUNCT
fsr-3458	232	1	we	we	PRON
fsr-3458	232	2	think	think	VERB
fsr-3458	232	3	this	this	PRON
fsr-3458	232	4	is	be	AUX
fsr-3458	232	5	reasonable	reasonable	ADJ
fsr-3458	232	6	,	,	PUNCT
fsr-3458	232	7	as	as	SCONJ
fsr-3458	232	8	increased	increase	VERB
fsr-3458	232	9	non	non	ADJ
fsr-3458	232	10	-	-	ADJ
fsr-3458	232	11	investment	investment	ADJ
fsr-3458	232	12	assets	asset	NOUN
fsr-3458	232	13	(	(	PUNCT
fsr-3458	232	14	assumed	assume	VERB
fsr-3458	232	15	here	here	ADV
fsr-3458	232	16	to	to	PART
fsr-3458	232	17	be	be	AUX
fsr-3458	232	18	real	real	ADJ
fsr-3458	232	19	estate	estate	NOUN
fsr-3458	232	20	and	and	CCONJ
fsr-3458	232	21	private	private	ADJ
fsr-3458	232	22	business	business	NOUN
fsr-3458	232	23	interests	interest	NOUN
fsr-3458	232	24	)	)	PUNCT
fsr-3458	232	25	require	require	VERB
fsr-3458	232	26	additional	additional	ADJ
fsr-3458	232	27	planning	planning	NOUN
fsr-3458	232	28	efforts	effort	NOUN
fsr-3458	232	29	,	,	PUNCT
fsr-3458	232	30	all	all	DET
fsr-3458	232	31	else	else	ADV
fsr-3458	232	32	equal	equal	ADJ
fsr-3458	232	33	,	,	PUNCT
fsr-3458	232	34	which	which	PRON
fsr-3458	232	35	the	the	DET
fsr-3458	232	36	planner	planner	NOUN
fsr-3458	232	37	should	should	AUX
fsr-3458	232	38	be	be	AUX
fsr-3458	232	39	compensated	compensate	VERB
fsr-3458	232	40	for	for	ADP
fsr-3458	232	41	as	as	ADP
fsr-3458	232	42	part	part	NOUN
fsr-3458	232	43	of	of	ADP
fsr-3458	232	44	the	the	DET
fsr-3458	232	45	initial	initial	ADJ
fsr-3458	232	46	236	236	NUM
fsr-3458	232	47	s.	s.	PROPN
fsr-3458	232	48	p.	p.	PROPN
fsr-3458	232	49	fraser	fraser	PROPN
fsr-3458	233	1	et	et	PROPN
fsr-3458	233	2	al	al	PROPN
fsr-3458	233	3	.	.	PUNCT
fsr-3458	233	4	/	/	SYM
fsr-3458	233	5	financial	financial	ADJ
fsr-3458	233	6	services	service	NOUN
fsr-3458	233	7	review	review	VERB
fsr-3458	233	8	29	29	NUM
fsr-3458	233	9	(	(	PUNCT
fsr-3458	233	10	2021	2021	NUM
fsr-3458	233	11	)	)	PUNCT
fsr-3458	233	12	227–245	227–245	NUM
fsr-3458	233	13	t	t	NOUN
fsr-3458	233	14	ab	ab	X
fsr-3458	233	15	le	le	X
fsr-3458	233	16	3	3	NUM
fsr-3458	233	17	in	in	ADP
fsr-3458	233	18	it	it	PRON
fsr-3458	233	19	ia	ia	PROPN
fsr-3458	233	20	l	l	X
fsr-3458	233	21	fe	fe	X
fsr-3458	234	1	e	e	X
fsr-3458	234	2	ex	ex	X
fsr-3458	234	3	am	be	AUX
fsr-3458	234	4	p	p	X
fsr-3458	234	5	le	le	X
fsr-3458	234	6	c	c	PROPN
fsr-3458	234	7	li	li	PROPN
fsr-3458	234	8	en	en	PROPN
fsr-3458	234	9	t	t	PROPN
fsr-3458	234	10	a	a	PRON
fsr-3458	234	11	(	(	PUNCT
fsr-3458	234	12	a	a	DET
fsr-3458	234	13	cc	cc	X
fsr-3458	234	14	u	u	NOUN
fsr-3458	234	15	m	m	NOUN
fsr-3458	234	16	u	u	NOUN
fsr-3458	234	17	la	la	X
fsr-3458	234	18	ti	ti	NOUN
fsr-3458	234	19	o	o	NOUN
fsr-3458	234	20	n	n	PROPN
fsr-3458	234	21	)	)	PUNCT
fsr-3458	234	22	c	c	PROPN
fsr-3458	234	23	li	li	PROPN
fsr-3458	234	24	en	en	PROPN
fsr-3458	234	25	t	t	PROPN
fsr-3458	234	26	b	b	PROPN
fsr-3458	234	27	(	(	PUNCT
fsr-3458	234	28	t	t	PROPN
fsr-3458	234	29	ra	ra	PROPN
fsr-3458	234	30	n	n	ADV
fsr-3458	234	31	si	si	INTJ
fsr-3458	234	32	ti	ti	X
fsr-3458	234	33	o	o	NOUN
fsr-3458	234	34	n	n	PROPN
fsr-3458	234	35	)	)	PUNCT
fsr-3458	234	36	c	c	PROPN
fsr-3458	234	37	li	li	PROPN
fsr-3458	234	38	en	en	PROPN
fsr-3458	234	39	t	t	PROPN
fsr-3458	234	40	c	c	PROPN
fsr-3458	234	41	(	(	PUNCT
fsr-3458	234	42	s	s	X
fsr-3458	234	43	p	p	X
fsr-3458	234	44	en	en	PROPN
fsr-3458	234	45	d	d	PROPN
fsr-3458	234	46	in	in	ADP
fsr-3458	234	47	g	g	PROPN
fsr-3458	234	48	)	)	PUNCT
fsr-3458	234	49	1	1	NUM
fsr-3458	234	50	2	2	NUM
fsr-3458	234	51	3	3	NUM
fsr-3458	234	52	4	4	NUM
fsr-3458	234	53	5	5	NUM
fsr-3458	234	54	6	6	NUM
fsr-3458	234	55	7	7	NUM
fsr-3458	234	56	8	8	NUM
fsr-3458	234	57	9	9	NUM
fsr-3458	234	58	n	n	NUM
fsr-3458	234	59	et	et	NOUN
fsr-3458	234	60	w	w	NOUN
fsr-3458	234	61	o	o	X
fsr-3458	235	1	rt	rt	PROPN
fsr-3458	235	2	h	h	NOUN
fsr-3458	235	3	$	$	SYM
fsr-3458	235	4	6	6	NUM
fsr-3458	235	5	0	0	NUM
fsr-3458	235	6	0	0	NUM
fsr-3458	235	7	k	k	NOUN
fsr-3458	235	8	$	$	SYM
fsr-3458	235	9	6	6	NUM
fsr-3458	235	10	0	0	NUM
fsr-3458	235	11	0	0	NUM
fsr-3458	235	12	k	k	NOUN
fsr-3458	235	13	$	$	SYM
fsr-3458	235	14	6	6	NUM
fsr-3458	235	15	0	0	NUM
fsr-3458	235	16	0	0	NUM
fsr-3458	235	17	k	k	NOUN
fsr-3458	235	18	$	$	SYM
fsr-3458	235	19	2	2	NUM
fsr-3458	235	20	,	,	PUNCT
fsr-3458	235	21	4	4	NUM
fsr-3458	235	22	0	0	NUM
fsr-3458	235	23	0	0	NUM
fsr-3458	235	24	k	k	NOUN
fsr-3458	235	25	$	$	SYM
fsr-3458	235	26	2	2	NUM
fsr-3458	235	27	,	,	PUNCT
fsr-3458	235	28	4	4	NUM
fsr-3458	235	29	0	0	NUM
fsr-3458	235	30	0	0	NUM
fsr-3458	235	31	k	k	NOUN
fsr-3458	235	32	$	$	SYM
fsr-3458	235	33	2	2	NUM
fsr-3458	235	34	,	,	PUNCT
fsr-3458	235	35	4	4	NUM
fsr-3458	235	36	0	0	NUM
fsr-3458	235	37	0	0	NUM
fsr-3458	236	1	k	k	NOUN
fsr-3458	236	2	$	$	SYM
fsr-3458	236	3	6	6	NUM
fsr-3458	236	4	,	,	PUNCT
fsr-3458	236	5	0	0	NUM
fsr-3458	236	6	0	0	NUM
fsr-3458	236	7	0	0	NUM
fsr-3458	236	8	k	k	NOUN
fsr-3458	236	9	$	$	SYM
fsr-3458	236	10	6	6	NUM
fsr-3458	236	11	,	,	PUNCT
fsr-3458	236	12	0	0	NUM
fsr-3458	236	13	0	0	NUM
fsr-3458	236	14	0	0	NUM
fsr-3458	236	15	k	k	NOUN
fsr-3458	236	16	$	$	SYM
fsr-3458	236	17	6	6	NUM
fsr-3458	236	18	,	,	PUNCT
fsr-3458	236	19	0	0	NUM
fsr-3458	236	20	0	0	NUM
fsr-3458	236	21	0	0	NUM
fsr-3458	237	1	k	k	NOUN
fsr-3458	237	2	in	in	ADP
fsr-3458	237	3	v	v	NUM
fsr-3458	237	4	es	es	X
fsr-3458	237	5	ta	ta	PROPN
fsr-3458	237	6	b	b	PROPN
fsr-3458	237	7	le	le	PROPN
fsr-3458	237	8	as	as	ADP
fsr-3458	237	9	se	se	X
fsr-3458	237	10	ts	ts	ADP
fsr-3458	237	11	$	$	SYM
fsr-3458	237	12	6	6	NUM
fsr-3458	237	13	0	0	NUM
fsr-3458	237	14	0	0	NUM
fsr-3458	237	15	k	k	NOUN
fsr-3458	237	16	$	$	SYM
fsr-3458	237	17	4	4	NUM
fsr-3458	237	18	0	0	NUM
fsr-3458	237	19	0	0	NUM
fsr-3458	237	20	k	k	NOUN
fsr-3458	237	21	$	$	SYM
fsr-3458	237	22	3	3	NUM
fsr-3458	237	23	0	0	NUM
fsr-3458	237	24	0	0	NUM
fsr-3458	237	25	k	k	NOUN
fsr-3458	237	26	$	$	SYM
fsr-3458	237	27	2	2	NUM
fsr-3458	237	28	,	,	PUNCT
fsr-3458	237	29	4	4	NUM
fsr-3458	237	30	0	0	NUM
fsr-3458	237	31	0	0	NUM
fsr-3458	237	32	k	k	NOUN
fsr-3458	237	33	$	$	SYM
fsr-3458	237	34	1	1	NUM
fsr-3458	237	35	,	,	PUNCT
fsr-3458	237	36	6	6	NUM
fsr-3458	237	37	0	0	NUM
fsr-3458	237	38	0	0	NUM
fsr-3458	237	39	k	k	NOUN
fsr-3458	237	40	$	$	SYM
fsr-3458	237	41	1	1	NUM
fsr-3458	237	42	,	,	PUNCT
fsr-3458	237	43	2	2	NUM
fsr-3458	237	44	0	0	NUM
fsr-3458	237	45	0	0	NUM
fsr-3458	237	46	k	k	NOUN
fsr-3458	237	47	$	$	SYM
fsr-3458	237	48	6	6	NUM
fsr-3458	237	49	,	,	PUNCT
fsr-3458	237	50	0	0	NUM
fsr-3458	237	51	0	0	NUM
fsr-3458	237	52	0	0	NUM
fsr-3458	237	53	k	k	NOUN
fsr-3458	237	54	$	$	SYM
fsr-3458	237	55	4	4	NUM
fsr-3458	237	56	,	,	PUNCT
fsr-3458	237	57	0	0	NUM
fsr-3458	237	58	0	0	NUM
fsr-3458	237	59	0	0	NUM
fsr-3458	237	60	k	k	NOUN
fsr-3458	237	61	$	$	SYM
fsr-3458	237	62	3	3	NUM
fsr-3458	237	63	,	,	PUNCT
fsr-3458	237	64	0	0	NUM
fsr-3458	237	65	0	0	NUM
fsr-3458	237	66	0	0	NUM
fsr-3458	238	1	k	k	NOUN
fsr-3458	238	2	p	p	X
fsr-3458	238	3	an	an	PROPN
fsr-3458	238	4	el	el	PROPN
fsr-3458	239	1	a	a	PROPN
fsr-3458	239	2	c	c	NOUN
fsr-3458	240	1	d	d	X
fsr-3458	240	2	f	f	PROPN
fsr-3458	240	3	s	s	PROPN
fsr-3458	240	4	6	6	NUM
fsr-3458	240	5	,	,	PUNCT
fsr-3458	240	6	1	1	NUM
fsr-3458	240	7	5	5	NUM
fsr-3458	240	8	0	0	NUM
fsr-3458	240	9	$	$	SYM
fsr-3458	240	10	5	5	NUM
fsr-3458	240	11	,	,	PUNCT
fsr-3458	240	12	3	3	NUM
fsr-3458	240	13	5	5	NUM
fsr-3458	240	14	0	0	NUM
fsr-3458	240	15	$	$	SYM
fsr-3458	240	16	4	4	NUM
fsr-3458	240	17	,	,	PUNCT
fsr-3458	240	18	9	9	NUM
fsr-3458	240	19	5	5	NUM
fsr-3458	240	20	0	0	NUM
fsr-3458	240	21	$	$	SYM
fsr-3458	240	22	2	2	NUM
fsr-3458	240	23	1	1	NUM
fsr-3458	240	24	,	,	PUNCT
fsr-3458	240	25	9	9	NUM
fsr-3458	240	26	5	5	NUM
fsr-3458	240	27	0	0	NUM
fsr-3458	240	28	$	$	SYM
fsr-3458	240	29	1	1	NUM
fsr-3458	240	30	9	9	NUM
fsr-3458	240	31	,	,	PUNCT
fsr-3458	240	32	1	1	NUM
fsr-3458	240	33	5	5	NUM
fsr-3458	240	34	0	0	NUM
fsr-3458	240	35	$	$	SYM
fsr-3458	240	36	1	1	NUM
fsr-3458	240	37	7	7	NUM
fsr-3458	240	38	,	,	PUNCT
fsr-3458	240	39	5	5	NUM
fsr-3458	240	40	5	5	NUM
fsr-3458	240	41	0	0	NUM
fsr-3458	240	42	$	$	SYM
fsr-3458	240	43	4	4	NUM
fsr-3458	240	44	7	7	NUM
fsr-3458	240	45	,	,	PUNCT
fsr-3458	240	46	2	2	NUM
fsr-3458	240	47	5	5	NUM
fsr-3458	240	48	0	0	NUM
fsr-3458	240	49	$	$	SYM
fsr-3458	240	50	4	4	NUM
fsr-3458	240	51	1	1	NUM
fsr-3458	240	52	,	,	PUNCT
fsr-3458	240	53	2	2	NUM
fsr-3458	240	54	5	5	NUM
fsr-3458	240	55	0	0	NUM
fsr-3458	240	56	$	$	SYM
fsr-3458	240	57	3	3	NUM
fsr-3458	240	58	8	8	NUM
fsr-3458	240	59	,	,	PUNCT
fsr-3458	240	60	2	2	NUM
fsr-3458	240	61	5	5	NUM
fsr-3458	240	62	0	0	NUM
fsr-3458	240	63	p	p	NOUN
fsr-3458	240	64	an	an	DET
fsr-3458	240	65	el	el	PROPN
fsr-3458	240	66	b	b	PROPN
fsr-3458	240	67	s	s	PROPN
fsr-3458	240	68	in	in	ADP
fsr-3458	240	69	g	g	PROPN
fsr-3458	240	70	le	le	X
fsr-3458	240	71	a	a	DET
fsr-3458	240	72	u	u	NOUN
fsr-3458	240	73	m	m	NOUN
fsr-3458	240	74	6	6	NUM
fsr-3458	240	75	,	,	PUNCT
fsr-3458	240	76	1	1	NUM
fsr-3458	240	77	5	5	NUM
fsr-3458	240	78	0	0	NUM
fsr-3458	240	79	$	$	SYM
fsr-3458	240	80	4	4	NUM
fsr-3458	240	81	,	,	PUNCT
fsr-3458	240	82	3	3	NUM
fsr-3458	240	83	5	5	NUM
fsr-3458	240	84	0	0	NUM
fsr-3458	240	85	$	$	SYM
fsr-3458	240	86	3	3	NUM
fsr-3458	240	87	,	,	PUNCT
fsr-3458	240	88	4	4	NUM
fsr-3458	240	89	5	5	NUM
fsr-3458	240	90	0	0	NUM
fsr-3458	240	91	$	$	SYM
fsr-3458	240	92	2	2	NUM
fsr-3458	240	93	1	1	NUM
fsr-3458	240	94	,	,	PUNCT
fsr-3458	240	95	1	1	NUM
fsr-3458	240	96	5	5	NUM
fsr-3458	240	97	0	0	NUM
fsr-3458	240	98	$	$	SYM
fsr-3458	240	99	1	1	NUM
fsr-3458	240	100	5	5	NUM
fsr-3458	240	101	,	,	PUNCT
fsr-3458	240	102	1	1	NUM
fsr-3458	240	103	5	5	NUM
fsr-3458	240	104	0	0	NUM
fsr-3458	240	105	$	$	SYM
fsr-3458	240	106	1	1	NUM
fsr-3458	240	107	1	1	NUM
fsr-3458	240	108	,	,	PUNCT
fsr-3458	240	109	5	5	NUM
fsr-3458	240	110	5	5	NUM
fsr-3458	240	111	0	0	NUM
fsr-3458	240	112	$	$	SYM
fsr-3458	240	113	4	4	NUM
fsr-3458	240	114	2	2	NUM
fsr-3458	240	115	,	,	PUNCT
fsr-3458	240	116	7	7	NUM
fsr-3458	241	1	5	5	NUM
fsr-3458	241	2	0	0	NUM
fsr-3458	241	3	$	$	SYM
fsr-3458	241	4	3	3	NUM
fsr-3458	241	5	0	0	NUM
fsr-3458	241	6	,	,	PUNCT
fsr-3458	241	7	7	7	NUM
fsr-3458	241	8	5	5	NUM
fsr-3458	241	9	0	0	NUM
fsr-3458	241	10	$	$	SYM
fsr-3458	241	11	2	2	NUM
fsr-3458	241	12	4	4	NUM
fsr-3458	241	13	,	,	PUNCT
fsr-3458	241	14	7	7	NUM
fsr-3458	242	1	5	5	NUM
fsr-3458	242	2	0	0	NUM
fsr-3458	242	3	p	p	NOUN
fsr-3458	242	4	an	an	PROPN
fsr-3458	242	5	el	el	PROPN
fsr-3458	243	1	c	c	PROPN
fsr-3458	243	2	f	f	PROPN
fsr-3458	243	3	ee	ee	PROPN
fsr-3458	243	4	d	d	PROPN
fsr-3458	243	5	if	if	SCONJ
fsr-3458	243	6	fe	fe	X
fsr-3458	243	7	re	re	X
fsr-3458	243	8	n	n	X
fsr-3458	243	9	ce	ce	PROPN
fsr-3458	243	10	,	,	PUNCT
fsr-3458	243	11	in	in	ADP
fsr-3458	243	12	it	it	PRON
fsr-3458	243	13	ia	ia	VERB
fsr-3458	243	14	l	l	NOUN
fsr-3458	243	15	$	$	X
fsr-3458	243	16	—	—	PUNCT
fsr-3458	243	17	$	$	SYM
fsr-3458	243	18	1	1	NUM
fsr-3458	243	19	,	,	PUNCT
fsr-3458	243	20	0	0	NUM
fsr-3458	243	21	0	0	NUM
fsr-3458	243	22	0	0	NUM
fsr-3458	243	23	$	$	SYM
fsr-3458	243	24	1	1	NUM
fsr-3458	243	25	,	,	PUNCT
fsr-3458	243	26	5	5	NUM
fsr-3458	243	27	0	0	NUM
fsr-3458	243	28	0	0	NUM
fsr-3458	243	29	$	$	SYM
fsr-3458	243	30	8	8	NUM
fsr-3458	243	31	0	0	NUM
fsr-3458	243	32	0	0	NUM
fsr-3458	243	33	$	$	SYM
fsr-3458	243	34	4	4	NUM
fsr-3458	243	35	,	,	PUNCT
fsr-3458	243	36	0	0	NUM
fsr-3458	243	37	0	0	NUM
fsr-3458	243	38	0	0	NUM
fsr-3458	243	39	$	$	SYM
fsr-3458	243	40	6	6	NUM
fsr-3458	243	41	,	,	PUNCT
fsr-3458	243	42	0	0	NUM
fsr-3458	243	43	0	0	NUM
fsr-3458	243	44	0	0	NUM
fsr-3458	243	45	$	$	SYM
fsr-3458	243	46	4	4	NUM
fsr-3458	243	47	,	,	PUNCT
fsr-3458	243	48	5	5	NUM
fsr-3458	243	49	0	0	NUM
fsr-3458	243	50	0	0	NUM
fsr-3458	243	51	$	$	SYM
fsr-3458	243	52	1	1	NUM
fsr-3458	243	53	0	0	NUM
fsr-3458	243	54	,	,	PUNCT
fsr-3458	243	55	5	5	NUM
fsr-3458	243	56	0	0	NUM
fsr-3458	243	57	0	0	NUM
fsr-3458	243	58	$	$	SYM
fsr-3458	243	59	1	1	NUM
fsr-3458	243	60	3	3	NUM
fsr-3458	243	61	,	,	PUNCT
fsr-3458	243	62	5	5	NUM
fsr-3458	243	63	0	0	NUM
fsr-3458	243	64	0	0	NUM
fsr-3458	244	1	a	a	DET
fsr-3458	244	2	s	s	NOUN
fsr-3458	244	3	%	%	NOUN
fsr-3458	245	1	o	o	X
fsr-3458	245	2	f	f	PROPN
fsr-3458	245	3	n	n	PROPN
fsr-3458	245	4	w	w	PROPN
fsr-3458	245	5	0	0	NUM
fsr-3458	245	6	.0	.0	NUM
fsr-3458	245	7	0	0	NUM
fsr-3458	245	8	%	%	NOUN
fsr-3458	245	9	0	0	PUNCT
fsr-3458	245	10	.1	.1	NUM
fsr-3458	245	11	7	7	NUM
fsr-3458	245	12	%	%	NOUN
fsr-3458	245	13	0	0	NUM
fsr-3458	246	1	.2	.2	NUM
fsr-3458	246	2	5	5	NUM
fsr-3458	246	3	%	%	NOUN
fsr-3458	246	4	0	0	NUM
fsr-3458	246	5	.0	.0	NUM
fsr-3458	246	6	3	3	NUM
fsr-3458	246	7	%	%	NOUN
fsr-3458	246	8	0	0	PUNCT
fsr-3458	246	9	.1	.1	NUM
fsr-3458	246	10	7	7	NUM
fsr-3458	246	11	%	%	NOUN
fsr-3458	246	12	0	0	NUM
fsr-3458	247	1	.2	.2	NUM
fsr-3458	247	2	5	5	NUM
fsr-3458	247	3	%	%	NOUN
fsr-3458	247	4	0	0	NUM
fsr-3458	247	5	.0	.0	NUM
fsr-3458	247	6	8	8	NUM
fsr-3458	247	7	%	%	NOUN
fsr-3458	247	8	0	0	NUM
fsr-3458	247	9	.1	.1	NUM
fsr-3458	247	10	8	8	NUM
fsr-3458	247	11	%	%	NOUN
fsr-3458	247	12	0	0	NUM
fsr-3458	248	1	.2	.2	NUM
fsr-3458	248	2	3	3	NUM
fsr-3458	248	3	%	%	NOUN
fsr-3458	248	4	p	p	PROPN
fsr-3458	248	5	la	la	PROPN
fsr-3458	248	6	n	n	CCONJ
fsr-3458	248	7	n	n	NOUN
fsr-3458	248	8	in	in	ADP
fsr-3458	248	9	g	g	PROPN
fsr-3458	248	10	ef	ef	PROPN
fsr-3458	249	1	fo	fo	INTJ
fsr-3458	249	2	rt	rt	PROPN
fsr-3458	249	3	re	re	PROPN
fsr-3458	249	4	q	q	PROPN
fsr-3458	249	5	u	u	X
fsr-3458	249	6	ir	ir	PROPN
fsr-3458	249	7	ed	ed	PROPN
fsr-3458	249	8	s	s	PART
fsr-3458	249	9	am	be	AUX
fsr-3458	249	10	e	e	NOUN
fsr-3458	249	11	m	m	NOUN
fsr-3458	249	12	o	o	X
fsr-3458	249	13	re	re	X
fsr-3458	249	14	s	s	NOUN
fsr-3458	249	15	am	am	NOUN
fsr-3458	249	16	e	e	X
fsr-3458	249	17	m	m	NOUN
fsr-3458	249	18	o	o	X
fsr-3458	249	19	re	re	X
fsr-3458	249	20	s	s	NOUN
fsr-3458	249	21	am	am	NOUN
fsr-3458	249	22	e	e	X
fsr-3458	249	23	m	m	NOUN
fsr-3458	249	24	o	o	X
fsr-3458	249	25	re	re	ADP
fsr-3458	249	26	t	t	PROPN
fsr-3458	249	27	h	h	PROPN
fsr-3458	249	28	is	be	AUX
fsr-3458	249	29	ta	ta	PROPN
fsr-3458	249	30	b	b	PROPN
fsr-3458	249	31	le	le	PROPN
fsr-3458	249	32	d	d	X
fsr-3458	249	33	ep	ep	PROPN
fsr-3458	249	34	ic	ic	INTJ
fsr-3458	249	35	ts	ts	X
fsr-3458	249	36	th	th	X
fsr-3458	249	37	e	e	NOUN
fsr-3458	249	38	in	in	ADP
fsr-3458	249	39	it	it	PRON
fsr-3458	249	40	ia	ia	PROPN
fsr-3458	249	41	l	l	X
fsr-3458	249	42	fe	fe	X
fsr-3458	250	1	es	es	X
fsr-3458	250	2	fo	fo	INTJ
fsr-3458	250	3	r	r	X
fsr-3458	250	4	th	th	X
fsr-3458	250	5	re	re	X
fsr-3458	250	6	e	e	PROPN
fsr-3458	250	7	d	d	PROPN
fsr-3458	250	8	if	if	SCONJ
fsr-3458	250	9	fe	fe	X
fsr-3458	250	10	re	re	X
fsr-3458	250	11	n	n	PROPN
fsr-3458	250	12	t	t	PROPN
fsr-3458	250	13	cl	cl	NOUN
fsr-3458	251	1	ie	ie	X
fsr-3458	251	2	n	n	PROPN
fsr-3458	251	3	t	t	NOUN
fsr-3458	251	4	p	p	X
fsr-3458	251	5	ro	ro	X
fsr-3458	251	6	fi	fi	X
fsr-3458	251	7	le	le	X
fsr-3458	251	8	s	s	X
fsr-3458	251	9	(	(	PUNCT
fsr-3458	251	10	c	c	PROPN
fsr-3458	251	11	li	li	PROPN
fsr-3458	251	12	en	en	PROPN
fsr-3458	251	13	t	t	PROPN
fsr-3458	251	14	a	a	DET
fsr-3458	251	15	,	,	PUNCT
fsr-3458	251	16	b	b	PROPN
fsr-3458	251	17	,	,	PUNCT
fsr-3458	251	18	an	an	DET
fsr-3458	251	19	d	d	X
fsr-3458	251	20	c	c	NOUN
fsr-3458	251	21	)	)	PUNCT
fsr-3458	251	22	ea	ea	PROPN
fsr-3458	252	1	ch	ch	NOUN
fsr-3458	252	2	w	w	PROPN
fsr-3458	252	3	it	it	PRON
fsr-3458	252	4	h	h	NOUN
fsr-3458	252	5	th	th	X
fsr-3458	252	6	re	re	X
fsr-3458	252	7	e	e	X
fsr-3458	252	8	ra	ra	NOUN
fsr-3458	252	9	ti	ti	INTJ
fsr-3458	252	10	o	o	NOUN
fsr-3458	252	11	s	s	X
fsr-3458	252	12	o	o	X
fsr-3458	252	13	f	f	PROPN
fsr-3458	252	14	n	n	INTJ
fsr-3458	252	15	et	et	NOUN
fsr-3458	252	16	w	w	NOUN
fsr-3458	252	17	o	o	X
fsr-3458	252	18	rt	rt	PROPN
fsr-3458	252	19	h	h	PROPN
fsr-3458	252	20	(	(	PUNCT
fsr-3458	252	21	n	n	X
fsr-3458	252	22	w	w	NOUN
fsr-3458	252	23	)	)	PUNCT
fsr-3458	252	24	to	to	ADP
fsr-3458	252	25	in	in	ADP
fsr-3458	252	26	v	v	NUM
fsr-3458	252	27	es	es	X
fsr-3458	252	28	ta	ta	PROPN
fsr-3458	252	29	b	b	PROPN
fsr-3458	252	30	le	le	PROPN
fsr-3458	252	31	as	as	ADP
fsr-3458	252	32	se	se	X
fsr-3458	252	33	ts	ts	X
fsr-3458	252	34	(	(	PUNCT
fsr-3458	252	35	i	i	PRON
fsr-3458	252	36	a	a	NOUN
fsr-3458	252	37	)	)	PUNCT
fsr-3458	252	38	.	.	PUNCT
fsr-3458	253	1	p	p	X
fsr-3458	253	2	an	an	DET
fsr-3458	253	3	el	el	PROPN
fsr-3458	253	4	a	a	PRON
fsr-3458	253	5	sh	sh	INTJ
fsr-3458	253	6	o	o	X
fsr-3458	253	7	w	w	PROPN
fsr-3458	253	8	s	s	X
fsr-3458	253	9	th	th	X
fsr-3458	253	10	e	e	X
fsr-3458	253	11	fe	fe	X
fsr-3458	253	12	es	es	INTJ
fsr-3458	253	13	fo	fo	INTJ
fsr-3458	253	14	r	r	NOUN
fsr-3458	253	15	th	th	X
fsr-3458	253	16	e	e	X
fsr-3458	253	17	co	co	NOUN
fsr-3458	253	18	n	n	PROPN
fsr-3458	254	1	so	so	ADV
fsr-3458	254	2	li	li	PROPN
fsr-3458	254	3	d	d	PROPN
fsr-3458	254	4	at	at	ADP
fsr-3458	254	5	ed	ed	PROPN
fsr-3458	254	6	d	d	PROPN
fsr-3458	254	7	u	u	X
fsr-3458	254	8	al	al	PROPN
fsr-3458	254	9	-f	-f	PROPN
fsr-3458	254	10	ee	ee	PROPN
fsr-3458	254	11	st	st	PROPN
fsr-3458	254	12	ru	ru	PROPN
fsr-3458	254	13	ct	ct	PROPN
fsr-3458	254	14	u	u	PROPN
fsr-3458	254	15	re	re	X
fsr-3458	254	16	(	(	PUNCT
fsr-3458	254	17	c	c	PROPN
fsr-3458	254	18	d	d	X
fsr-3458	254	19	f	f	PROPN
fsr-3458	254	20	s	s	PROPN
fsr-3458	254	21	)	)	PUNCT
fsr-3458	255	1	an	an	DET
fsr-3458	255	2	d	d	X
fsr-3458	255	3	p	p	X
fsr-3458	255	4	an	an	PROPN
fsr-3458	255	5	el	el	PROPN
fsr-3458	255	6	b	b	PROPN
fsr-3458	256	1	sh	sh	INTJ
fsr-3458	256	2	o	o	X
fsr-3458	256	3	w	w	PROPN
fsr-3458	256	4	s	s	X
fsr-3458	256	5	th	th	X
fsr-3458	256	6	e	e	X
fsr-3458	256	7	fe	fe	X
fsr-3458	256	8	es	es	INTJ
fsr-3458	256	9	fo	fo	INTJ
fsr-3458	256	10	r	r	NOUN
fsr-3458	256	11	th	th	X
fsr-3458	256	12	e	e	X
fsr-3458	256	13	si	si	X
fsr-3458	256	14	n	n	CCONJ
fsr-3458	256	15	g	g	PROPN
fsr-3458	256	16	le	le	X
fsr-3458	256	17	,	,	PUNCT
fsr-3458	256	18	an	an	DET
fsr-3458	256	19	d	d	X
fsr-3458	256	20	m	m	NOUN
fsr-3458	256	21	o	o	NOUN
fsr-3458	256	22	re	re	X
fsr-3458	256	23	w	w	PROPN
fsr-3458	256	24	i	i	PROPN
fsr-3458	256	25	d	d	PROPN
fsr-3458	256	26	el	el	PROPN
fsr-3458	256	27	y	y	PROPN
fsr-3458	256	28	u	u	PROPN
fsr-3458	256	29	se	se	PROPN
fsr-3458	256	30	d	d	PROPN
fsr-3458	256	31	as	as	SCONJ
fsr-3458	256	32	se	se	PROPN
fsr-3458	256	33	t	t	PROPN
fsr-3458	256	34	u	u	PROPN
fsr-3458	256	35	n	n	PROPN
fsr-3458	256	36	d	d	X
fsr-3458	256	37	er	er	INTJ
fsr-3458	256	38	m	m	VERB
fsr-3458	256	39	an	an	DET
fsr-3458	256	40	ag	ag	PROPN
fsr-3458	256	41	em	em	PRON
fsr-3458	256	42	en	en	PROPN
fsr-3458	256	43	t	t	PROPN
fsr-3458	256	44	(	(	PUNCT
fsr-3458	256	45	a	a	DET
fsr-3458	256	46	u	u	NOUN
fsr-3458	256	47	m	m	NOUN
fsr-3458	256	48	)	)	PUNCT
fsr-3458	256	49	b	b	PROPN
fsr-3458	256	50	as	as	ADP
fsr-3458	256	51	ed	ed	PROPN
fsr-3458	256	52	fe	fe	PROPN
fsr-3458	256	53	e.	e.	PROPN
fsr-3458	256	54	p	p	PROPN
fsr-3458	257	1	an	an	PROPN
fsr-3458	257	2	el	el	PROPN
fsr-3458	257	3	c	c	PROPN
fsr-3458	257	4	h	h	NOUN
fsr-3458	258	1	ig	ig	PROPN
fsr-3458	258	2	h	h	NOUN
fsr-3458	258	3	li	li	PROPN
fsr-3458	258	4	g	g	PROPN
fsr-3458	258	5	h	h	PROPN
fsr-3458	258	6	ts	ts	X
fsr-3458	258	7	th	th	X
fsr-3458	259	1	e	e	PROPN
fsr-3458	259	2	d	d	NOUN
fsr-3458	259	3	if	if	SCONJ
fsr-3458	259	4	fe	fe	X
fsr-3458	259	5	re	re	X
fsr-3458	259	6	n	n	PROPN
fsr-3458	259	7	ce	ce	PROPN
fsr-3458	259	8	b	b	PROPN
fsr-3458	259	9	et	et	PROPN
fsr-3458	259	10	w	w	PROPN
fsr-3458	259	11	ee	ee	PROPN
fsr-3458	259	12	n	n	PROPN
fsr-3458	259	13	th	th	X
fsr-3458	259	14	e	e	X
fsr-3458	259	15	tw	tw	X
fsr-3458	259	16	o	o	X
fsr-3458	259	17	fe	fe	X
fsr-3458	259	18	e	e	PROPN
fsr-3458	259	19	st	st	PROPN
fsr-3458	259	20	ru	ru	PROPN
fsr-3458	259	21	ct	ct	PROPN
fsr-3458	259	22	u	u	PROPN
fsr-3458	259	23	re	re	ADP
fsr-3458	260	1	s.	s.	PROPN
fsr-3458	260	2	s.	s.	PROPN
fsr-3458	260	3	p.	p.	PROPN
fsr-3458	260	4	fraser	fraser	PROPN
fsr-3458	261	1	et	et	PROPN
fsr-3458	261	2	al	al	PROPN
fsr-3458	261	3	.	.	PUNCT
fsr-3458	261	4	/	/	SYM
fsr-3458	261	5	financial	financial	ADJ
fsr-3458	261	6	services	service	NOUN
fsr-3458	261	7	review	review	VERB
fsr-3458	261	8	29	29	NUM
fsr-3458	261	9	(	(	PUNCT
fsr-3458	261	10	2021	2021	NUM
fsr-3458	261	11	)	)	PUNCT
fsr-3458	261	12	227–245	227–245	NUM
fsr-3458	261	13	237	237	NUM
fsr-3458	261	14	planning	planning	NOUN
fsr-3458	261	15	effort	effort	NOUN
fsr-3458	261	16	.	.	PUNCT
fsr-3458	262	1	we	we	PRON
fsr-3458	262	2	have	have	AUX
fsr-3458	262	3	summarized	summarize	VERB
fsr-3458	262	4	this	this	DET
fsr-3458	262	5	position	position	NOUN
fsr-3458	262	6	by	by	ADP
fsr-3458	262	7	labeling	label	VERB
fsr-3458	262	8	the	the	DET
fsr-3458	262	9	relative	relative	ADJ
fsr-3458	262	10	planning	planning	NOUN
fsr-3458	262	11	effort	effort	NOUN
fsr-3458	262	12	required	require	VERB
fsr-3458	262	13	of	of	ADP
fsr-3458	262	14	the	the	DET
fsr-3458	262	15	client	client	NOUN
fsr-3458	262	16	with	with	ADP
fsr-3458	262	17	less	less	ADJ
fsr-3458	262	18	investable	investable	ADJ
fsr-3458	262	19	assets	asset	NOUN
fsr-3458	262	20	(	(	PUNCT
fsr-3458	262	21	“	"	PUNCT
fsr-3458	262	22	same	same	ADJ
fsr-3458	262	23	”	"	PUNCT
fsr-3458	262	24	–	–	PUNCT
fsr-3458	262	25	columns	column	NOUN
fsr-3458	262	26	1	1	NUM
fsr-3458	262	27	,	,	PUNCT
fsr-3458	262	28	4	4	NUM
fsr-3458	262	29	,	,	PUNCT
fsr-3458	262	30	and	and	CCONJ
fsr-3458	262	31	7	7	NUM
fsr-3458	262	32	)	)	PUNCT
fsr-3458	262	33	compared	compare	VERB
fsr-3458	262	34	with	with	ADP
fsr-3458	262	35	the	the	DET
fsr-3458	262	36	respective	respective	ADJ
fsr-3458	262	37	clients	client	NOUN
fsr-3458	262	38	with	with	ADP
fsr-3458	262	39	identical	identical	ADJ
fsr-3458	262	40	net	net	ADJ
fsr-3458	262	41	worth	worth	NOUN
fsr-3458	262	42	but	but	CCONJ
fsr-3458	262	43	less	less	ADV
fsr-3458	262	44	investable	investable	ADJ
fsr-3458	262	45	assets	asset	NOUN
fsr-3458	262	46	(	(	PUNCT
fsr-3458	262	47	“	"	PUNCT
fsr-3458	262	48	more	more	ADJ
fsr-3458	262	49	”	"	PUNCT
fsr-3458	262	50	–	–	PUNCT
fsr-3458	262	51	columns	column	NOUN
fsr-3458	262	52	3	3	NUM
fsr-3458	262	53	,	,	PUNCT
fsr-3458	262	54	6	6	NUM
fsr-3458	262	55	,	,	PUNCT
fsr-3458	262	56	and	and	CCONJ
fsr-3458	262	57	9	9	NUM
fsr-3458	262	58	)	)	PUNCT
fsr-3458	262	59	.	.	PUNCT
fsr-3458	263	1	nevertheless	nevertheless	ADV
fsr-3458	263	2	,	,	PUNCT
fsr-3458	263	3	these	these	DET
fsr-3458	263	4	differences	difference	NOUN
fsr-3458	263	5	are	be	AUX
fsr-3458	263	6	only	only	ADV
fsr-3458	263	7	at	at	ADP
fsr-3458	263	8	most	most	ADJ
fsr-3458	263	9	25	25	NUM
fsr-3458	263	10	bps	bps	NOUN
fsr-3458	263	11	of	of	ADP
fsr-3458	263	12	total	total	ADJ
fsr-3458	263	13	initial	initial	ADJ
fsr-3458	263	14	net	net	ADJ
fsr-3458	263	15	worth	worth	NOUN
fsr-3458	263	16	at	at	ADP
fsr-3458	263	17	the	the	DET
fsr-3458	263	18	beginning	beginning	NOUN
fsr-3458	263	19	of	of	ADP
fsr-3458	263	20	the	the	DET
fsr-3458	263	21	client	client	NOUN
fsr-3458	263	22	-	-	PUNCT
fsr-3458	263	23	advisor	advisor	NOUN
fsr-3458	263	24	relationship	relationship	NOUN
fsr-3458	263	25	.	.	PUNCT
fsr-3458	264	1	importantly	importantly	ADV
fsr-3458	264	2	,	,	PUNCT
fsr-3458	264	3	this	this	DET
fsr-3458	264	4	decomposition	decomposition	NOUN
fsr-3458	264	5	of	of	ADP
fsr-3458	264	6	the	the	DET
fsr-3458	264	7	overall	overall	ADJ
fsr-3458	264	8	fee	fee	NOUN
fsr-3458	264	9	into	into	ADP
fsr-3458	264	10	two	two	NUM
fsr-3458	264	11	components	component	NOUN
fsr-3458	264	12	,	,	PUNCT
fsr-3458	264	13	one	one	NUM
fsr-3458	264	14	of	of	ADP
fsr-3458	264	15	which	which	PRON
fsr-3458	264	16	is	be	AUX
fsr-3458	264	17	comparable	comparable	ADJ
fsr-3458	264	18	in	in	ADP
fsr-3458	264	19	function	function	NOUN
fsr-3458	264	20	to	to	ADP
fsr-3458	264	21	the	the	DET
fsr-3458	264	22	common	common	ADJ
fsr-3458	264	23	,	,	PUNCT
fsr-3458	264	24	single	single	ADJ
fsr-3458	264	25	fee	fee	NOUN
fsr-3458	264	26	-	-	PUNCT
fsr-3458	264	27	only	only	ADV
fsr-3458	264	28	aum	aum	PROPN
fsr-3458	264	29	that	that	PRON
fsr-3458	264	30	is	be	AUX
fsr-3458	264	31	pervasive	pervasive	ADJ
fsr-3458	264	32	today	today	NOUN
fsr-3458	264	33	,	,	PUNCT
fsr-3458	264	34	we	we	PRON
fsr-3458	264	35	have	have	AUX
fsr-3458	264	36	deductively	deductively	ADV
fsr-3458	264	37	determined	determine	VERB
fsr-3458	264	38	the	the	DET
fsr-3458	264	39	value	value	NOUN
fsr-3458	264	40	of	of	ADP
fsr-3458	264	41	the	the	DET
fsr-3458	264	42	planning	planning	NOUN
fsr-3458	264	43	function	function	NOUN
fsr-3458	264	44	that	that	PRON
fsr-3458	264	45	occurs	occur	VERB
fsr-3458	264	46	above	above	ADP
fsr-3458	264	47	and	and	CCONJ
fsr-3458	264	48	beyond	beyond	ADP
fsr-3458	264	49	the	the	DET
fsr-3458	264	50	act	act	NOUN
fsr-3458	264	51	of	of	ADP
fsr-3458	264	52	solely	solely	ADV
fsr-3458	264	53	managing	manage	VERB
fsr-3458	264	54	investments	investment	NOUN
fsr-3458	264	55	.	.	PUNCT
fsr-3458	265	1	in	in	ADP
fsr-3458	265	2	doing	do	VERB
fsr-3458	265	3	so	so	ADV
fsr-3458	265	4	,	,	PUNCT
fsr-3458	265	5	we	we	PRON
fsr-3458	265	6	now	now	ADV
fsr-3458	265	7	allow	allow	VERB
fsr-3458	265	8	planners	planner	NOUN
fsr-3458	265	9	and	and	CCONJ
fsr-3458	265	10	clients	client	NOUN
fsr-3458	265	11	more	more	ADJ
fsr-3458	265	12	transparency	transparency	NOUN
fsr-3458	265	13	in	in	ADP
fsr-3458	265	14	what	what	PRON
fsr-3458	265	15	they	they	PRON
fsr-3458	265	16	are	be	AUX
fsr-3458	265	17	providing	provide	VERB
fsr-3458	265	18	and	and	CCONJ
fsr-3458	265	19	buying	buying	NOUN
fsr-3458	265	20	,	,	PUNCT
fsr-3458	265	21	respectively	respectively	ADV
fsr-3458	265	22	.	.	PUNCT
fsr-3458	266	1	additionally	additionally	ADV
fsr-3458	266	2	,	,	PUNCT
fsr-3458	266	3	this	this	DET
fsr-3458	266	4	approach	approach	NOUN
fsr-3458	266	5	provides	provide	VERB
fsr-3458	266	6	planners	planner	NOUN
fsr-3458	266	7	a	a	DET
fsr-3458	266	8	mechanism	mechanism	NOUN
fsr-3458	266	9	that	that	PRON
fsr-3458	266	10	can	can	AUX
fsr-3458	266	11	help	help	VERB
fsr-3458	266	12	them	they	PRON
fsr-3458	266	13	separate	separate	ADJ
fsr-3458	266	14	and	and	CCONJ
fsr-3458	266	15	distinguish	distinguish	VERB
fsr-3458	266	16	their	their	PRON
fsr-3458	266	17	services	service	NOUN
fsr-3458	266	18	such	such	ADJ
fsr-3458	266	19	that	that	SCONJ
fsr-3458	266	20	they	they	PRON
fsr-3458	266	21	might	might	AUX
fsr-3458	266	22	address	address	VERB
fsr-3458	266	23	a	a	DET
fsr-3458	266	24	larger	large	ADJ
fsr-3458	266	25	number	number	NOUN
fsr-3458	266	26	of	of	ADP
fsr-3458	266	27	clients	client	NOUN
fsr-3458	266	28	’	'	PUNCT
fsr-3458	266	29	needs	need	NOUN
fsr-3458	266	30	.	.	PUNCT
fsr-3458	267	1	that	that	PRON
fsr-3458	267	2	is	is	ADV
fsr-3458	267	3	,	,	PUNCT
fsr-3458	267	4	planners	planner	NOUN
fsr-3458	267	5	can	can	AUX
fsr-3458	267	6	now	now	ADV
fsr-3458	267	7	price	price	VERB
fsr-3458	267	8	and	and	CCONJ
fsr-3458	267	9	offer	offer	VERB
fsr-3458	267	10	more	more	ADV
fsr-3458	267	11	tailored	tailor	VERB
fsr-3458	267	12	services	service	NOUN
fsr-3458	267	13	for	for	ADP
fsr-3458	267	14	a	a	DET
fsr-3458	267	15	client	client	NOUN
fsr-3458	267	16	who	who	PRON
fsr-3458	267	17	might	might	AUX
fsr-3458	267	18	need	need	VERB
fsr-3458	267	19	only	only	ADV
fsr-3458	267	20	i	i	PRON
fsr-3458	267	21	m	m	VERB
fsr-3458	267	22	help	help	VERB
fsr-3458	267	23	or	or	CCONJ
fsr-3458	267	24	perhaps	perhaps	ADV
fsr-3458	267	25	only	only	ADV
fsr-3458	267	26	broader	broad	ADJ
fsr-3458	267	27	planning	planning	NOUN
fsr-3458	267	28	assistance	assistance	NOUN
fsr-3458	267	29	.	.	PUNCT
fsr-3458	268	1	under	under	ADP
fsr-3458	268	2	a	a	DET
fsr-3458	268	3	single	single	ADJ
fsr-3458	268	4	fee	fee	NOUN
fsr-3458	268	5	-	-	PUNCT
fsr-3458	268	6	only	only	ADJ
fsr-3458	268	7	model	model	NOUN
fsr-3458	268	8	with	with	ADP
fsr-3458	268	9	one	one	NUM
fsr-3458	268	10	aum	aum	NOUN
fsr-3458	268	11	fee	fee	NOUN
fsr-3458	268	12	structure	structure	NOUN
fsr-3458	268	13	,	,	PUNCT
fsr-3458	268	14	clients	client	NOUN
fsr-3458	268	15	might	might	AUX
fsr-3458	268	16	think	think	VERB
fsr-3458	268	17	they	they	PRON
fsr-3458	268	18	are	be	AUX
fsr-3458	268	19	overpaying	overpay	VERB
fsr-3458	268	20	for	for	ADP
fsr-3458	268	21	planning	planning	NOUN
fsr-3458	268	22	that	that	PRON
fsr-3458	268	23	might	might	AUX
fsr-3458	268	24	not	not	PART
fsr-3458	268	25	be	be	AUX
fsr-3458	268	26	required	require	VERB
fsr-3458	268	27	(	(	PUNCT
fsr-3458	268	28	columns	column	NOUN
fsr-3458	268	29	1	1	NUM
fsr-3458	268	30	,	,	PUNCT
fsr-3458	268	31	4	4	NUM
fsr-3458	268	32	,	,	PUNCT
fsr-3458	268	33	and	and	CCONJ
fsr-3458	268	34	7	7	NUM
fsr-3458	268	35	in	in	ADP
fsr-3458	268	36	table	table	NOUN
fsr-3458	268	37	3	3	NUM
fsr-3458	268	38	)	)	PUNCT
fsr-3458	268	39	.	.	PUNCT
fsr-3458	269	1	the	the	DET
fsr-3458	269	2	cdfs	cdfs	PROPN
fsr-3458	269	3	allows	allow	VERB
fsr-3458	269	4	planners	planner	NOUN
fsr-3458	269	5	to	to	PART
fsr-3458	269	6	respond	respond	VERB
fsr-3458	269	7	to	to	ADP
fsr-3458	269	8	them	they	PRON
fsr-3458	269	9	with	with	ADP
fsr-3458	269	10	the	the	DET
fsr-3458	269	11	i	i	PROPN
fsr-3458	269	12	m	m	PROPN
fsr-3458	269	13	fee	fee	NOUN
fsr-3458	269	14	schedule	schedule	NOUN
fsr-3458	269	15	in	in	ADP
fsr-3458	269	16	table	table	NOUN
fsr-3458	269	17	1	1	NUM
fsr-3458	269	18	that	that	PRON
fsr-3458	269	19	will	will	AUX
fsr-3458	269	20	compete	compete	VERB
fsr-3458	269	21	with	with	ADP
fsr-3458	269	22	the	the	DET
fsr-3458	269	23	so	so	ADV
fsr-3458	269	24	-	-	PUNCT
fsr-3458	269	25	called	call	VERB
fsr-3458	269	26	robo	robo	NOUN
fsr-3458	269	27	-	-	PUNCT
fsr-3458	269	28	advisors	advisor	NOUN
fsr-3458	269	29	.	.	PUNCT
fsr-3458	270	1	additionally	additionally	ADV
fsr-3458	270	2	,	,	PUNCT
fsr-3458	270	3	if	if	SCONJ
fsr-3458	270	4	clients	client	NOUN
fsr-3458	270	5	need	need	VERB
fsr-3458	270	6	significant	significant	ADJ
fsr-3458	270	7	financial	financial	ADJ
fsr-3458	270	8	planning	planning	NOUN
fsr-3458	270	9	help	help	NOUN
fsr-3458	270	10	that	that	PRON
fsr-3458	270	11	is	be	AUX
fsr-3458	270	12	broader	broad	ADJ
fsr-3458	270	13	than	than	ADP
fsr-3458	270	14	investment	investment	NOUN
fsr-3458	270	15	management	management	NOUN
fsr-3458	270	16	,	,	PUNCT
fsr-3458	270	17	planners	planner	NOUN
fsr-3458	270	18	can	can	AUX
fsr-3458	270	19	price	price	VERB
fsr-3458	270	20	it	it	PRON
fsr-3458	270	21	“	"	PUNCT
fsr-3458	270	22	fairly	fairly	ADV
fsr-3458	270	23	”	"	PUNCT
fsr-3458	270	24	in	in	ADP
fsr-3458	270	25	the	the	DET
fsr-3458	270	26	market	market	NOUN
fsr-3458	270	27	using	use	VERB
fsr-3458	270	28	the	the	DET
fsr-3458	270	29	cdfs	cdfs	ADJ
fsr-3458	270	30	methodology	methodology	NOUN
fsr-3458	270	31	.	.	PUNCT
fsr-3458	271	1	if	if	SCONJ
fsr-3458	271	2	a	a	DET
fsr-3458	271	3	client	client	NOUN
fsr-3458	271	4	includes	include	VERB
fsr-3458	271	5	an	an	DET
fsr-3458	271	6	asset	asset	NOUN
fsr-3458	271	7	or	or	CCONJ
fsr-3458	271	8	asset	asset	NOUN
fsr-3458	271	9	class	class	NOUN
fsr-3458	271	10	as	as	ADP
fsr-3458	271	11	part	part	NOUN
fsr-3458	271	12	of	of	ADP
fsr-3458	271	13	their	their	PRON
fsr-3458	271	14	nw	nw	NOUN
fsr-3458	271	15	,	,	PUNCT
fsr-3458	271	16	then	then	ADV
fsr-3458	271	17	the	the	DET
fsr-3458	271	18	advisor	advisor	NOUN
fsr-3458	271	19	must	must	AUX
fsr-3458	271	20	plan	plan	VERB
fsr-3458	271	21	around	around	ADP
fsr-3458	271	22	that	that	DET
fsr-3458	271	23	asset	asset	NOUN
fsr-3458	271	24	or	or	CCONJ
fsr-3458	271	25	asset	asset	NOUN
fsr-3458	271	26	class	class	NOUN
fsr-3458	271	27	and	and	CCONJ
fsr-3458	271	28	charge	charge	NOUN
fsr-3458	271	29	for	for	ADP
fsr-3458	271	30	it	it	PRON
fsr-3458	271	31	commensurately	commensurately	ADV
fsr-3458	271	32	.	.	PUNCT
fsr-3458	272	1	however	however	ADV
fsr-3458	272	2	,	,	PUNCT
fsr-3458	272	3	planners	planner	NOUN
fsr-3458	272	4	can	can	AUX
fsr-3458	272	5	not	not	PART
fsr-3458	272	6	consider	consider	VERB
fsr-3458	272	7	assets	asset	NOUN
fsr-3458	272	8	that	that	PRON
fsr-3458	272	9	they	they	PRON
fsr-3458	272	10	do	do	AUX
fsr-3458	272	11	not	not	PART
fsr-3458	272	12	know	know	VERB
fsr-3458	272	13	to	to	PART
fsr-3458	272	14	exist	exist	VERB
fsr-3458	272	15	,	,	PUNCT
fsr-3458	272	16	so	so	SCONJ
fsr-3458	272	17	clients	client	NOUN
fsr-3458	272	18	should	should	AUX
fsr-3458	272	19	not	not	PART
fsr-3458	272	20	pay	pay	VERB
fsr-3458	272	21	for	for	ADP
fsr-3458	272	22	this	this	DET
fsr-3458	272	23	effort	effort	NOUN
fsr-3458	272	24	,	,	PUNCT
fsr-3458	272	25	nor	nor	CCONJ
fsr-3458	272	26	should	should	AUX
fsr-3458	272	27	the	the	DET
fsr-3458	272	28	advisor	advisor	NOUN
fsr-3458	272	29	be	be	AUX
fsr-3458	272	30	expected	expect	VERB
fsr-3458	272	31	to	to	PART
fsr-3458	272	32	consider	consider	VERB
fsr-3458	272	33	such	such	ADJ
fsr-3458	272	34	assets	asset	NOUN
fsr-3458	272	35	in	in	ADP
fsr-3458	272	36	the	the	DET
fsr-3458	272	37	overall	overall	ADJ
fsr-3458	272	38	plan	plan	NOUN
fsr-3458	272	39	.	.	PUNCT
fsr-3458	273	1	as	as	SCONJ
fsr-3458	273	2	many	many	ADJ
fsr-3458	273	3	planners	planner	NOUN
fsr-3458	273	4	recognize	recognize	VERB
fsr-3458	273	5	,	,	PUNCT
fsr-3458	273	6	the	the	DET
fsr-3458	273	7	financial	financial	ADJ
fsr-3458	273	8	planning	planning	NOUN
fsr-3458	273	9	effort	effort	NOUN
fsr-3458	273	10	for	for	ADP
fsr-3458	273	11	most	most	ADJ
fsr-3458	273	12	clients	client	NOUN
fsr-3458	273	13	is	be	AUX
fsr-3458	273	14	heavily	heavily	ADV
fsr-3458	273	15	front	front	ADJ
fsr-3458	273	16	loaded	load	VERB
fsr-3458	273	17	.	.	PUNCT
fsr-3458	274	1	that	that	PRON
fsr-3458	274	2	is	be	AUX
fsr-3458	274	3	,	,	PUNCT
fsr-3458	274	4	more	more	ADV
fsr-3458	274	5	often	often	ADV
fsr-3458	274	6	than	than	ADP
fsr-3458	274	7	not	not	PART
fsr-3458	274	8	,	,	PUNCT
fsr-3458	274	9	formulating	formulate	VERB
fsr-3458	274	10	the	the	DET
fsr-3458	274	11	initial	initial	ADJ
fsr-3458	274	12	comprehensive	comprehensive	ADJ
fsr-3458	274	13	financial	financial	ADJ
fsr-3458	274	14	plan	plan	NOUN
fsr-3458	274	15	involves	involve	VERB
fsr-3458	274	16	collecting	collect	VERB
fsr-3458	274	17	data	datum	NOUN
fsr-3458	274	18	about	about	ADP
fsr-3458	274	19	a	a	DET
fsr-3458	274	20	client	client	NOUN
fsr-3458	274	21	’s	’s	PART
fsr-3458	274	22	financial	financial	ADJ
fsr-3458	274	23	position	position	NOUN
fsr-3458	274	24	,	,	PUNCT
fsr-3458	274	25	assessing	assess	VERB
fsr-3458	274	26	a	a	DET
fsr-3458	274	27	client	client	NOUN
fsr-3458	274	28	’s	’s	PART
fsr-3458	274	29	goals	goal	NOUN
fsr-3458	274	30	and	and	CCONJ
fsr-3458	274	31	risk	risk	NOUN
fsr-3458	274	32	profile	profile	NOUN
fsr-3458	274	33	,	,	PUNCT
fsr-3458	274	34	analyzing	analyze	VERB
fsr-3458	274	35	a	a	DET
fsr-3458	274	36	client	client	NOUN
fsr-3458	274	37	’s	’s	PART
fsr-3458	274	38	financial	financial	ADJ
fsr-3458	274	39	position	position	NOUN
fsr-3458	274	40	,	,	PUNCT
fsr-3458	274	41	and	and	CCONJ
fsr-3458	274	42	recommending	recommend	VERB
fsr-3458	274	43	potential	potential	ADJ
fsr-3458	274	44	actions	action	NOUN
fsr-3458	274	45	to	to	PART
fsr-3458	274	46	meet	meet	VERB
fsr-3458	274	47	the	the	DET
fsr-3458	274	48	client	client	NOUN
fsr-3458	274	49	’s	’s	PART
fsr-3458	274	50	objectives	objective	NOUN
fsr-3458	274	51	can	can	AUX
fsr-3458	274	52	involve	involve	VERB
fsr-3458	274	53	much	much	ADV
fsr-3458	274	54	more	more	ADJ
fsr-3458	274	55	time	time	NOUN
fsr-3458	274	56	and	and	CCONJ
fsr-3458	274	57	effort	effort	NOUN
fsr-3458	274	58	in	in	ADP
fsr-3458	274	59	the	the	DET
fsr-3458	274	60	onboarding	onboarding	NOUN
fsr-3458	274	61	process	process	NOUN
fsr-3458	274	62	than	than	ADP
fsr-3458	274	63	implementing	implement	VERB
fsr-3458	274	64	and	and	CCONJ
fsr-3458	274	65	monitoring	monitor	VERB
fsr-3458	274	66	the	the	DET
fsr-3458	274	67	plan	plan	NOUN
fsr-3458	274	68	in	in	ADP
fsr-3458	274	69	subsequent	subsequent	ADJ
fsr-3458	274	70	years	year	NOUN
fsr-3458	274	71	.	.	PUNCT
fsr-3458	275	1	this	this	DET
fsr-3458	275	2	fact	fact	NOUN
fsr-3458	275	3	motivates	motivate	VERB
fsr-3458	275	4	our	our	PRON
fsr-3458	275	5	next	next	ADJ
fsr-3458	275	6	analysis	analysis	NOUN
fsr-3458	275	7	,	,	PUNCT
fsr-3458	275	8	a	a	DET
fsr-3458	275	9	corollary	corollary	NOUN
fsr-3458	275	10	to	to	ADP
fsr-3458	275	11	the	the	DET
fsr-3458	275	12	cdfs	cdfs	ADJ
fsr-3458	275	13	dual	dual	ADJ
fsr-3458	275	14	-	-	PUNCT
fsr-3458	275	15	fee	fee	NOUN
fsr-3458	275	16	structure	structure	NOUN
fsr-3458	275	17	,	,	PUNCT
fsr-3458	275	18	which	which	PRON
fsr-3458	275	19	is	be	AUX
fsr-3458	275	20	a	a	DET
fsr-3458	275	21	fee	fee	NOUN
fsr-3458	275	22	feature	feature	NOUN
fsr-3458	275	23	that	that	PRON
fsr-3458	275	24	recognizes	recognize	VERB
fsr-3458	275	25	the	the	DET
fsr-3458	275	26	lesser	less	ADJ
fsr-3458	275	27	planning	planning	NOUN
fsr-3458	275	28	effort	effort	NOUN
fsr-3458	275	29	required	require	VERB
fsr-3458	275	30	in	in	ADP
fsr-3458	275	31	subsequent	subsequent	ADJ
fsr-3458	275	32	years	year	NOUN
fsr-3458	275	33	.	.	PUNCT
fsr-3458	276	1	specifically	specifically	ADV
fsr-3458	276	2	,	,	PUNCT
fsr-3458	276	3	we	we	PRON
fsr-3458	276	4	next	next	ADV
fsr-3458	276	5	evaluate	evaluate	VERB
fsr-3458	276	6	the	the	DET
fsr-3458	276	7	fee	fee	NOUN
fsr-3458	276	8	impacts	impact	NOUN
fsr-3458	276	9	assuming	assume	VERB
fsr-3458	276	10	financial	financial	ADJ
fsr-3458	276	11	planning	planning	NOUN
fsr-3458	276	12	component	component	NOUN
fsr-3458	276	13	fee	fee	NOUN
fsr-3458	276	14	associated	associate	VERB
fsr-3458	276	15	with	with	ADP
fsr-3458	276	16	the	the	DET
fsr-3458	276	17	nw	nw	PROPN
fsr-3458	276	18	fee	fee	NOUN
fsr-3458	276	19	schedule	schedule	NOUN
fsr-3458	276	20	is	be	AUX
fsr-3458	276	21	reduced	reduce	VERB
fsr-3458	276	22	by	by	ADP
fsr-3458	276	23	50	50	NUM
fsr-3458	276	24	%	%	NOUN
fsr-3458	276	25	after	after	ADP
fsr-3458	276	26	the	the	DET
fsr-3458	276	27	initial	initial	ADJ
fsr-3458	276	28	year	year	NOUN
fsr-3458	276	29	.	.	PUNCT
fsr-3458	277	1	in	in	ADP
fsr-3458	277	2	other	other	ADJ
fsr-3458	277	3	words	word	NOUN
fsr-3458	277	4	,	,	PUNCT
fsr-3458	277	5	instead	instead	ADV
fsr-3458	277	6	the	the	PRON
fsr-3458	277	7	of	of	ADP
fsr-3458	277	8	the	the	DET
fsr-3458	277	9	60	60	NUM
fsr-3458	277	10	,	,	PUNCT
fsr-3458	277	11	50	50	NUM
fsr-3458	277	12	,	,	PUNCT
fsr-3458	277	13	and	and	CCONJ
fsr-3458	277	14	40	40	NUM
fsr-3458	277	15	bps	bps	NOUN
fsr-3458	277	16	fee	fee	NOUN
fsr-3458	277	17	schedule	schedule	NOUN
fsr-3458	277	18	shown	show	VERB
fsr-3458	277	19	in	in	ADP
fsr-3458	277	20	table	table	NOUN
fsr-3458	277	21	1	1	NUM
fsr-3458	277	22	,	,	PUNCT
fsr-3458	277	23	the	the	DET
fsr-3458	277	24	fee	fee	NOUN
fsr-3458	277	25	schedule	schedule	NOUN
fsr-3458	277	26	changes	change	NOUN
fsr-3458	277	27	to	to	ADP
fsr-3458	277	28	30	30	NUM
fsr-3458	277	29	,	,	PUNCT
fsr-3458	277	30	25	25	NUM
fsr-3458	277	31	,	,	PUNCT
fsr-3458	277	32	and	and	CCONJ
fsr-3458	277	33	20	20	NUM
fsr-3458	277	34	bps	bps	NOUN
fsr-3458	277	35	of	of	ADP
fsr-3458	277	36	nw	nw	PROPN
fsr-3458	277	37	for	for	ADP
fsr-3458	277	38	every	every	DET
fsr-3458	277	39	year	year	NOUN
fsr-3458	277	40	beyond	beyond	ADP
fsr-3458	277	41	the	the	DET
fsr-3458	277	42	initial	initial	ADJ
fsr-3458	277	43	year	year	NOUN
fsr-3458	277	44	.	.	PUNCT
fsr-3458	278	1	the	the	DET
fsr-3458	278	2	i	i	PROPN
fsr-3458	278	3	m	m	PROPN
fsr-3458	278	4	fee	fee	NOUN
fsr-3458	278	5	schedule	schedule	NOUN
fsr-3458	278	6	does	do	AUX
fsr-3458	278	7	not	not	PART
fsr-3458	278	8	change	change	VERB
fsr-3458	278	9	,	,	PUNCT
fsr-3458	278	10	which	which	PRON
fsr-3458	278	11	remains	remain	VERB
fsr-3458	278	12	consistent	consistent	ADJ
fsr-3458	278	13	and	and	CCONJ
fsr-3458	278	14	competitive	competitive	ADJ
fsr-3458	278	15	with	with	ADP
fsr-3458	278	16	the	the	DET
fsr-3458	278	17	robo	robo	NOUN
fsr-3458	278	18	-	-	PUNCT
fsr-3458	278	19	advisor	advisor	NOUN
fsr-3458	278	20	approach	approach	NOUN
fsr-3458	278	21	.	.	PUNCT
fsr-3458	279	1	extending	extend	VERB
fsr-3458	279	2	this	this	DET
fsr-3458	279	3	analysis	analysis	NOUN
fsr-3458	279	4	over	over	ADP
fsr-3458	279	5	the	the	DET
fsr-3458	279	6	investment	investment	NOUN
fsr-3458	279	7	lifetime	lifetime	NOUN
fsr-3458	279	8	of	of	ADP
fsr-3458	279	9	our	our	PRON
fsr-3458	279	10	example	example	NOUN
fsr-3458	279	11	clients	client	NOUN
fsr-3458	279	12	,	,	PUNCT
fsr-3458	279	13	we	we	PRON
fsr-3458	279	14	also	also	ADV
fsr-3458	279	15	aggregate	aggregate	VERB
fsr-3458	279	16	the	the	DET
fsr-3458	279	17	cumulative	cumulative	ADJ
fsr-3458	279	18	fees	fee	NOUN
fsr-3458	279	19	each	each	DET
fsr-3458	279	20	client	client	NOUN
fsr-3458	279	21	pays	pay	VERB
fsr-3458	279	22	over	over	ADP
fsr-3458	279	23	their	their	PRON
fsr-3458	279	24	investment	investment	NOUN
fsr-3458	279	25	lifetime	lifetime	NOUN
fsr-3458	279	26	under	under	ADP
fsr-3458	279	27	the	the	DET
fsr-3458	279	28	different	different	ADJ
fsr-3458	279	29	fee	fee	NOUN
fsr-3458	279	30	approaches	approach	NOUN
fsr-3458	279	31	.	.	PUNCT
fsr-3458	280	1	table	table	NOUN
fsr-3458	280	2	4	4	NUM
fsr-3458	280	3	contrasts	contrast	VERB
fsr-3458	280	4	the	the	DET
fsr-3458	280	5	impacts	impact	NOUN
fsr-3458	280	6	of	of	ADP
fsr-3458	280	7	our	our	PRON
fsr-3458	280	8	two	two	NUM
fsr-3458	280	9	different	different	ADJ
fsr-3458	280	10	fee	fee	NOUN
fsr-3458	280	11	approaches	approach	NOUN
fsr-3458	280	12	across	across	ADP
fsr-3458	280	13	time	time	NOUN
fsr-3458	280	14	for	for	ADP
fsr-3458	280	15	the	the	DET
fsr-3458	280	16	different	different	ADJ
fsr-3458	280	17	client	client	NOUN
fsr-3458	280	18	profiles	profile	NOUN
fsr-3458	280	19	described	describe	VERB
fsr-3458	280	20	previously	previously	ADV
fsr-3458	280	21	.	.	PUNCT
fsr-3458	281	1	specifically	specifically	ADV
fsr-3458	281	2	,	,	PUNCT
fsr-3458	281	3	we	we	PRON
fsr-3458	281	4	simulate	simulate	VERB
fsr-3458	281	5	10,000	10,000	NUM
fsr-3458	281	6	random	random	ADJ
fsr-3458	281	7	time	time	NOUN
fsr-3458	281	8	series	series	NOUN
fsr-3458	281	9	of	of	ADP
fsr-3458	281	10	asset	asset	NOUN
fsr-3458	281	11	class	class	NOUN
fsr-3458	281	12	returns	return	NOUN
fsr-3458	281	13	and	and	CCONJ
fsr-3458	281	14	compare	compare	VERB
fsr-3458	281	15	the	the	DET
fsr-3458	281	16	average	average	ADJ
fsr-3458	281	17	overall	overall	ADJ
fsr-3458	281	18	fees	fee	NOUN
fsr-3458	281	19	under	under	ADP
fsr-3458	281	20	the	the	DET
fsr-3458	281	21	cdfs	cdfs	PROPN
fsr-3458	281	22	with	with	ADP
fsr-3458	281	23	the	the	DET
fsr-3458	281	24	aum	aum	PROPN
fsr-3458	281	25	fee	fee	NOUN
fsr-3458	281	26	-	-	PUNCT
fsr-3458	281	27	only	only	ADJ
fsr-3458	281	28	structure	structure	NOUN
fsr-3458	281	29	for	for	ADP
fsr-3458	281	30	each	each	PRON
fsr-3458	281	31	of	of	ADP
fsr-3458	281	32	our	our	PRON
fsr-3458	281	33	nine	nine	NUM
fsr-3458	281	34	profiles.5	profiles.5	NOUN
fsr-3458	281	35	all	all	DET
fsr-3458	281	36	values	value	NOUN
fsr-3458	281	37	are	be	AUX
fsr-3458	281	38	in	in	ADP
fsr-3458	281	39	nominal	nominal	ADJ
fsr-3458	281	40	dollars	dollar	NOUN
fsr-3458	281	41	.	.	PUNCT
fsr-3458	282	1	panel	panel	NOUN
fsr-3458	282	2	a	a	DET
fsr-3458	282	3	depicts	depict	NOUN
fsr-3458	282	4	the	the	DET
fsr-3458	282	5	nw	nw	PROPN
fsr-3458	282	6	and	and	CCONJ
fsr-3458	282	7	i	i	PRON
fsr-3458	282	8	m	m	VERB
fsr-3458	282	9	fees	fee	NOUN
fsr-3458	282	10	for	for	ADP
fsr-3458	282	11	year	year	NOUN
fsr-3458	282	12	1	1	NUM
fsr-3458	282	13	and	and	CCONJ
fsr-3458	282	14	year	year	NOUN
fsr-3458	282	15	2	2	NUM
fsr-3458	282	16	for	for	ADP
fsr-3458	282	17	the	the	DET
fsr-3458	282	18	cdfs	cdfs	PROPN
fsr-3458	282	19	.	.	PUNCT
fsr-3458	283	1	panel	panel	NOUN
fsr-3458	283	2	b	b	PROPN
fsr-3458	283	3	depicts	depict	VERB
fsr-3458	283	4	the	the	DET
fsr-3458	283	5	same	same	ADJ
fsr-3458	283	6	fees	fee	NOUN
fsr-3458	283	7	for	for	ADP
fsr-3458	283	8	the	the	DET
fsr-3458	283	9	aum	aum	PROPN
fsr-3458	283	10	model	model	NOUN
fsr-3458	283	11	.	.	PUNCT
fsr-3458	284	1	we	we	PRON
fsr-3458	284	2	also	also	ADV
fsr-3458	284	3	aggregate	aggregate	VERB
fsr-3458	284	4	the	the	DET
fsr-3458	284	5	fees	fee	NOUN
fsr-3458	284	6	over	over	ADP
fsr-3458	284	7	the	the	DET
fsr-3458	284	8	respective	respective	ADJ
fsr-3458	284	9	investment	investment	NOUN
fsr-3458	284	10	238	238	NUM
fsr-3458	284	11	s.	s.	PROPN
fsr-3458	284	12	p.	p.	PROPN
fsr-3458	284	13	fraser	fraser	PROPN
fsr-3458	285	1	et	et	PROPN
fsr-3458	285	2	al	al	PROPN
fsr-3458	285	3	.	.	PUNCT
fsr-3458	285	4	/	/	SYM
fsr-3458	285	5	financial	financial	ADJ
fsr-3458	285	6	services	service	NOUN
fsr-3458	285	7	review	review	VERB
fsr-3458	285	8	29	29	NUM
fsr-3458	285	9	(	(	PUNCT
fsr-3458	285	10	2021	2021	NUM
fsr-3458	285	11	)	)	PUNCT
fsr-3458	285	12	227–245	227–245	NUM
fsr-3458	285	13	t	t	NOUN
fsr-3458	285	14	ab	ab	X
fsr-3458	285	15	le	le	PROPN
fsr-3458	285	16	4	4	NUM
fsr-3458	285	17	f	f	NOUN
fsr-3458	285	18	ee	ee	ADP
fsr-3458	285	19	an	an	DET
fsr-3458	285	20	d	d	NOUN
fsr-3458	285	21	p	p	X
fsr-3458	285	22	o	o	X
fsr-3458	285	23	rt	rt	INTJ
fsr-3458	285	24	fo	fo	INTJ
fsr-3458	285	25	li	li	PROPN
fsr-3458	285	26	o	o	X
fsr-3458	285	27	re	re	X
fsr-3458	285	28	su	su	PROPN
fsr-3458	285	29	lt	lt	PROPN
fsr-3458	285	30	s	s	PROPN
fsr-3458	285	31	o	o	NOUN
fsr-3458	285	32	v	v	ADP
fsr-3458	285	33	er	er	INTJ
fsr-3458	285	34	ti	ti	NOUN
fsr-3458	285	35	m	m	NOUN
fsr-3458	285	36	e	e	PROPN
fsr-3458	285	37	c	c	PROPN
fsr-3458	285	38	li	li	PROPN
fsr-3458	285	39	en	en	PROPN
fsr-3458	285	40	t	t	PROPN
fsr-3458	285	41	a	a	PRON
fsr-3458	285	42	(	(	PUNCT
fsr-3458	285	43	a	a	DET
fsr-3458	285	44	cc	cc	X
fsr-3458	285	45	u	u	NOUN
fsr-3458	285	46	m	m	NOUN
fsr-3458	285	47	u	u	NOUN
fsr-3458	285	48	la	la	X
fsr-3458	285	49	ti	ti	NOUN
fsr-3458	285	50	o	o	NOUN
fsr-3458	285	51	n	n	PROPN
fsr-3458	285	52	)	)	PUNCT
fsr-3458	285	53	c	c	PROPN
fsr-3458	285	54	li	li	PROPN
fsr-3458	285	55	en	en	PROPN
fsr-3458	285	56	t	t	PROPN
fsr-3458	285	57	b	b	PROPN
fsr-3458	285	58	(	(	PUNCT
fsr-3458	285	59	t	t	PROPN
fsr-3458	285	60	ra	ra	PROPN
fsr-3458	285	61	n	n	ADV
fsr-3458	285	62	si	si	INTJ
fsr-3458	285	63	ti	ti	X
fsr-3458	285	64	o	o	NOUN
fsr-3458	285	65	n	n	PROPN
fsr-3458	285	66	)	)	PUNCT
fsr-3458	285	67	c	c	PROPN
fsr-3458	285	68	li	li	PROPN
fsr-3458	285	69	en	en	PROPN
fsr-3458	285	70	t	t	PROPN
fsr-3458	285	71	c	c	PROPN
fsr-3458	285	72	(	(	PUNCT
fsr-3458	285	73	s	s	X
fsr-3458	285	74	p	p	X
fsr-3458	285	75	en	en	PROPN
fsr-3458	285	76	d	d	PROPN
fsr-3458	285	77	in	in	ADP
fsr-3458	285	78	g	g	PROPN
fsr-3458	285	79	)	)	PUNCT
fsr-3458	285	80	1	1	NUM
fsr-3458	285	81	2	2	NUM
fsr-3458	285	82	3	3	NUM
fsr-3458	285	83	4	4	NUM
fsr-3458	285	84	5	5	NUM
fsr-3458	285	85	6	6	NUM
fsr-3458	285	86	7	7	NUM
fsr-3458	285	87	8	8	NUM
fsr-3458	285	88	9	9	NUM
fsr-3458	285	89	n	n	NUM
fsr-3458	285	90	et	et	NOUN
fsr-3458	285	91	w	w	NOUN
fsr-3458	285	92	o	o	X
fsr-3458	286	1	rt	rt	PROPN
fsr-3458	286	2	h	h	NOUN
fsr-3458	286	3	$	$	SYM
fsr-3458	286	4	6	6	NUM
fsr-3458	286	5	0	0	NUM
fsr-3458	286	6	0	0	NUM
fsr-3458	286	7	k	k	NOUN
fsr-3458	286	8	$	$	SYM
fsr-3458	286	9	6	6	NUM
fsr-3458	286	10	0	0	NUM
fsr-3458	286	11	0	0	NUM
fsr-3458	286	12	k	k	NOUN
fsr-3458	286	13	$	$	SYM
fsr-3458	286	14	6	6	NUM
fsr-3458	286	15	0	0	NUM
fsr-3458	286	16	0	0	NUM
fsr-3458	286	17	k	k	NOUN
fsr-3458	286	18	$	$	SYM
fsr-3458	286	19	2	2	NUM
fsr-3458	286	20	,	,	PUNCT
fsr-3458	286	21	4	4	NUM
fsr-3458	286	22	0	0	NUM
fsr-3458	286	23	0	0	NUM
fsr-3458	286	24	k	k	NOUN
fsr-3458	286	25	$	$	SYM
fsr-3458	286	26	2	2	NUM
fsr-3458	286	27	,	,	PUNCT
fsr-3458	286	28	4	4	NUM
fsr-3458	286	29	0	0	NUM
fsr-3458	286	30	0	0	NUM
fsr-3458	286	31	k	k	NOUN
fsr-3458	286	32	$	$	SYM
fsr-3458	286	33	2	2	NUM
fsr-3458	286	34	,	,	PUNCT
fsr-3458	286	35	4	4	NUM
fsr-3458	286	36	0	0	NUM
fsr-3458	286	37	0	0	NUM
fsr-3458	287	1	k	k	NOUN
fsr-3458	287	2	$	$	SYM
fsr-3458	287	3	6	6	NUM
fsr-3458	287	4	,	,	PUNCT
fsr-3458	287	5	0	0	NUM
fsr-3458	287	6	0	0	NUM
fsr-3458	287	7	0	0	NUM
fsr-3458	287	8	k	k	NOUN
fsr-3458	287	9	$	$	SYM
fsr-3458	287	10	6	6	NUM
fsr-3458	287	11	,	,	PUNCT
fsr-3458	287	12	0	0	NUM
fsr-3458	287	13	0	0	NUM
fsr-3458	287	14	0	0	NUM
fsr-3458	287	15	k	k	NOUN
fsr-3458	287	16	$	$	SYM
fsr-3458	287	17	6	6	NUM
fsr-3458	287	18	,	,	PUNCT
fsr-3458	287	19	0	0	NUM
fsr-3458	287	20	0	0	NUM
fsr-3458	287	21	0	0	NUM
fsr-3458	288	1	k	k	NOUN
fsr-3458	288	2	in	in	ADP
fsr-3458	288	3	v	v	NUM
fsr-3458	288	4	es	es	X
fsr-3458	288	5	ta	ta	PROPN
fsr-3458	288	6	b	b	PROPN
fsr-3458	288	7	le	le	PROPN
fsr-3458	288	8	as	as	ADP
fsr-3458	288	9	se	se	X
fsr-3458	288	10	ts	ts	ADP
fsr-3458	288	11	$	$	SYM
fsr-3458	288	12	6	6	NUM
fsr-3458	288	13	0	0	NUM
fsr-3458	288	14	0	0	NUM
fsr-3458	288	15	k	k	NOUN
fsr-3458	288	16	$	$	SYM
fsr-3458	288	17	4	4	NUM
fsr-3458	288	18	0	0	NUM
fsr-3458	288	19	0	0	NUM
fsr-3458	288	20	k	k	NOUN
fsr-3458	288	21	$	$	SYM
fsr-3458	288	22	3	3	NUM
fsr-3458	288	23	0	0	NUM
fsr-3458	288	24	0	0	NUM
fsr-3458	288	25	k	k	NOUN
fsr-3458	288	26	$	$	SYM
fsr-3458	288	27	2	2	NUM
fsr-3458	288	28	,	,	PUNCT
fsr-3458	288	29	4	4	NUM
fsr-3458	288	30	0	0	NUM
fsr-3458	288	31	0	0	NUM
fsr-3458	288	32	k	k	NOUN
fsr-3458	288	33	$	$	SYM
fsr-3458	288	34	1	1	NUM
fsr-3458	288	35	,	,	PUNCT
fsr-3458	288	36	6	6	NUM
fsr-3458	288	37	0	0	NUM
fsr-3458	288	38	0	0	NUM
fsr-3458	288	39	k	k	NOUN
fsr-3458	288	40	$	$	SYM
fsr-3458	288	41	1	1	NUM
fsr-3458	288	42	,	,	PUNCT
fsr-3458	288	43	2	2	NUM
fsr-3458	288	44	0	0	NUM
fsr-3458	288	45	0	0	NUM
fsr-3458	288	46	k	k	NOUN
fsr-3458	288	47	$	$	SYM
fsr-3458	288	48	6	6	NUM
fsr-3458	288	49	,	,	PUNCT
fsr-3458	288	50	0	0	NUM
fsr-3458	288	51	0	0	NUM
fsr-3458	288	52	0	0	NUM
fsr-3458	288	53	k	k	NOUN
fsr-3458	288	54	$	$	SYM
fsr-3458	288	55	4	4	NUM
fsr-3458	288	56	,	,	PUNCT
fsr-3458	288	57	0	0	NUM
fsr-3458	288	58	0	0	NUM
fsr-3458	288	59	0	0	NUM
fsr-3458	288	60	k	k	NOUN
fsr-3458	288	61	$	$	SYM
fsr-3458	288	62	3	3	NUM
fsr-3458	288	63	,	,	PUNCT
fsr-3458	288	64	0	0	NUM
fsr-3458	288	65	0	0	NUM
fsr-3458	288	66	0	0	NUM
fsr-3458	289	1	k	k	NOUN
fsr-3458	289	2	s	s	X
fsr-3458	289	3	to	to	PART
fsr-3458	289	4	ck	ck	PROPN
fsr-3458	289	5	/b	/b	PUNCT
fsr-3458	290	1	o	o	NOUN
fsr-3458	290	2	n	n	PROPN
fsr-3458	290	3	d	d	PROPN
fsr-3458	290	4	al	al	PROPN
fsr-3458	290	5	lo	lo	PROPN
fsr-3458	290	6	ca	can	AUX
fsr-3458	290	7	ti	ti	VERB
fsr-3458	290	8	o	o	NOUN
fsr-3458	290	9	n	n	PROPN
fsr-3458	290	10	8	8	NUM
fsr-3458	290	11	0	0	NUM
fsr-3458	290	12	/2	/2	NUM
fsr-3458	290	13	0	0	NUM
fsr-3458	291	1	6	6	NUM
fsr-3458	291	2	0	0	NUM
fsr-3458	291	3	/4	/4	NOUN
fsr-3458	291	4	0	0	NUM
fsr-3458	291	5	4	4	NUM
fsr-3458	291	6	0	0	NUM
fsr-3458	291	7	/6	/6	NOUN
fsr-3458	291	8	0	0	NUM
fsr-3458	292	1	in	in	ADP
fsr-3458	292	2	v	v	NUM
fsr-3458	292	3	es	es	ADP
fsr-3458	292	4	tm	tm	PROPN
fsr-3458	292	5	en	en	PROPN
fsr-3458	292	6	t	t	PROPN
fsr-3458	292	7	p	p	X
fsr-3458	292	8	er	er	INTJ
fsr-3458	292	9	io	io	X
fsr-3458	292	10	d	d	PROPN
fsr-3458	292	11	(	(	PUNCT
fsr-3458	292	12	y	y	PROPN
fsr-3458	292	13	ea	ea	PROPN
fsr-3458	292	14	rs	rs	PROPN
fsr-3458	292	15	)	)	PUNCT
fsr-3458	292	16	4	4	NUM
fsr-3458	292	17	0	0	NUM
fsr-3458	292	18	2	2	NUM
fsr-3458	292	19	0	0	NUM
fsr-3458	292	20	1	1	NUM
fsr-3458	292	21	0	0	NUM
fsr-3458	292	22	p	p	NOUN
fsr-3458	292	23	an	an	PROPN
fsr-3458	292	24	el	el	PROPN
fsr-3458	292	25	a	a	PROPN
fsr-3458	292	26	d	d	X
fsr-3458	292	27	u	u	X
fsr-3458	292	28	al	al	PROPN
fsr-3458	292	29	-f	-f	PROPN
fsr-3458	292	30	ee	ee	PROPN
fsr-3458	292	31	st	st	PROPN
fsr-3458	292	32	ru	ru	PROPN
fsr-3458	292	33	ct	ct	PROPN
fsr-3458	292	34	u	u	PROPN
fsr-3458	292	35	re	re	X
fsr-3458	292	36	(	(	PUNCT
fsr-3458	292	37	c	c	PROPN
fsr-3458	292	38	d	d	X
fsr-3458	292	39	f	f	PROPN
fsr-3458	292	40	s	s	PART
fsr-3458	292	41	)	)	PUNCT
fsr-3458	292	42	1	1	NUM
fsr-3458	292	43	)	)	PUNCT
fsr-3458	292	44	y	y	PROPN
fsr-3458	292	45	ea	ea	PROPN
fsr-3458	292	46	r	r	NOUN
fsr-3458	292	47	1	1	NUM
fsr-3458	292	48	fe	fe	X
fsr-3458	292	49	e	e	NOUN
fsr-3458	292	50	,	,	PUNCT
fsr-3458	292	51	to	to	ADP
fsr-3458	292	52	ta	ta	ADP
fsr-3458	292	53	l	l	NOUN
fsr-3458	292	54	$	$	SYM
fsr-3458	292	55	6	6	NUM
fsr-3458	292	56	,	,	PUNCT
fsr-3458	292	57	4	4	NUM
fsr-3458	292	58	33	33	NUM
fsr-3458	292	59	$	$	SYM
fsr-3458	292	60	5	5	NUM
fsr-3458	292	61	,	,	PUNCT
fsr-3458	292	62	6	6	NUM
fsr-3458	292	63	3	3	NUM
fsr-3458	292	64	4	4	NUM
fsr-3458	292	65	$	$	SYM
fsr-3458	292	66	5	5	NUM
fsr-3458	292	67	,	,	PUNCT
fsr-3458	292	68	2	2	NUM
fsr-3458	292	69	24	24	NUM
fsr-3458	292	70	$	$	SYM
fsr-3458	292	71	2	2	NUM
fsr-3458	292	72	2	2	NUM
fsr-3458	292	73	,	,	PUNCT
fsr-3458	292	74	7	7	NUM
fsr-3458	292	75	6	6	NUM
fsr-3458	292	76	7	7	NUM
fsr-3458	292	77	$	$	SYM
fsr-3458	292	78	2	2	NUM
fsr-3458	292	79	0	0	NUM
fsr-3458	292	80	,	,	PUNCT
fsr-3458	292	81	0	0	NUM
fsr-3458	292	82	4	4	NUM
fsr-3458	292	83	2	2	NUM
fsr-3458	292	84	$	$	SYM
fsr-3458	292	85	1	1	NUM
fsr-3458	292	86	8	8	NUM
fsr-3458	292	87	,	,	PUNCT
fsr-3458	292	88	4	4	NUM
fsr-3458	292	89	1	1	NUM
fsr-3458	292	90	0	0	NUM
fsr-3458	292	91	$	$	SYM
fsr-3458	292	92	4	4	NUM
fsr-3458	292	93	9	9	NUM
fsr-3458	292	94	,	,	PUNCT
fsr-3458	292	95	0	0	NUM
fsr-3458	292	96	1	1	NUM
fsr-3458	292	97	5	5	NUM
fsr-3458	292	98	$	$	SYM
fsr-3458	292	99	4	4	NUM
fsr-3458	292	100	3	3	NUM
fsr-3458	292	101	,	,	PUNCT
fsr-3458	292	102	0	0	NUM
fsr-3458	292	103	5	5	NUM
fsr-3458	292	104	3	3	NUM
fsr-3458	292	105	$	$	SYM
fsr-3458	292	106	4	4	NUM
fsr-3458	292	107	0	0	NUM
fsr-3458	292	108	,	,	PUNCT
fsr-3458	292	109	0	0	NUM
fsr-3458	292	110	6	6	NUM
fsr-3458	292	111	3	3	NUM
fsr-3458	292	112	2	2	NUM
fsr-3458	292	113	)	)	PUNCT
fsr-3458	292	114	n	n	PROPN
fsr-3458	292	115	w	w	PROPN
fsr-3458	292	116	fe	fe	X
fsr-3458	292	117	e	e	NOUN
fsr-3458	292	118	$	$	SYM
fsr-3458	292	119	3	3	NUM
fsr-3458	292	120	,	,	PUNCT
fsr-3458	292	121	6	6	NUM
fsr-3458	292	122	5	5	NUM
fsr-3458	292	123	7	7	NUM
fsr-3458	292	124	$	$	SYM
fsr-3458	292	125	3	3	NUM
fsr-3458	292	126	,	,	PUNCT
fsr-3458	292	127	6	6	NUM
fsr-3458	292	128	8	8	NUM
fsr-3458	292	129	0	0	NUM
fsr-3458	292	130	$	$	SYM
fsr-3458	292	131	3	3	NUM
fsr-3458	292	132	,	,	PUNCT
fsr-3458	292	133	6	6	NUM
fsr-3458	292	134	9	9	NUM
fsr-3458	292	135	2	2	NUM
fsr-3458	292	136	$	$	SYM
fsr-3458	292	137	1	1	NUM
fsr-3458	292	138	2	2	NUM
fsr-3458	292	139	,	,	PUNCT
fsr-3458	292	140	9	9	NUM
fsr-3458	292	141	7	7	NUM
fsr-3458	292	142	7	7	NUM
fsr-3458	292	143	$	$	SYM
fsr-3458	292	144	1	1	NUM
fsr-3458	292	145	3	3	NUM
fsr-3458	292	146	,	,	PUNCT
fsr-3458	292	147	0	0	NUM
fsr-3458	292	148	7	7	NUM
fsr-3458	292	149	1	1	NUM
fsr-3458	292	150	$	$	SYM
fsr-3458	292	151	1	1	NUM
fsr-3458	292	152	3	3	NUM
fsr-3458	292	153	,	,	PUNCT
fsr-3458	292	154	1	1	NUM
fsr-3458	292	155	1	1	NUM
fsr-3458	292	156	4	4	NUM
fsr-3458	292	157	$	$	SYM
fsr-3458	292	158	2	2	NUM
fsr-3458	292	159	8	8	NUM
fsr-3458	292	160	,	,	PUNCT
fsr-3458	292	161	0	0	NUM
fsr-3458	292	162	0	0	NUM
fsr-3458	292	163	9	9	NUM
fsr-3458	292	164	$	$	SYM
fsr-3458	292	165	2	2	NUM
fsr-3458	292	166	8	8	NUM
fsr-3458	292	167	,	,	PUNCT
fsr-3458	292	168	2	2	NUM
fsr-3458	292	169	7	7	NUM
fsr-3458	292	170	9	9	NUM
fsr-3458	292	171	$	$	SYM
fsr-3458	292	172	2	2	NUM
fsr-3458	292	173	8	8	NUM
fsr-3458	292	174	,	,	PUNCT
fsr-3458	292	175	4	4	NUM
fsr-3458	292	176	1	1	NUM
fsr-3458	292	177	5	5	NUM
fsr-3458	292	178	3	3	NUM
fsr-3458	292	179	)	)	PUNCT
fsr-3458	292	180	i	i	PRON
fsr-3458	292	181	m	m	VERB
fsr-3458	292	182	fe	fe	X
fsr-3458	292	183	e	e	NOUN
fsr-3458	292	184	$	$	SYM
fsr-3458	292	185	2	2	NUM
fsr-3458	292	186	,	,	PUNCT
fsr-3458	292	187	7	7	NUM
fsr-3458	292	188	7	7	NUM
fsr-3458	292	189	6	6	NUM
fsr-3458	292	190	$	$	SYM
fsr-3458	292	191	1	1	NUM
fsr-3458	292	192	,	,	PUNCT
fsr-3458	292	193	9	9	NUM
fsr-3458	292	194	3	3	NUM
fsr-3458	292	195	4	4	NUM
fsr-3458	292	196	$	$	SYM
fsr-3458	292	197	1	1	NUM
fsr-3458	292	198	,	,	PUNCT
fsr-3458	292	199	5	5	NUM
fsr-3458	292	200	1	1	NUM
fsr-3458	292	201	3	3	NUM
fsr-3458	292	202	$	$	SYM
fsr-3458	292	203	9	9	NUM
fsr-3458	292	204	,	,	PUNCT
fsr-3458	292	205	7	7	NUM
fsr-3458	292	206	9	9	NUM
fsr-3458	292	207	0	0	NUM
fsr-3458	292	208	$	$	SYM
fsr-3458	292	209	6	6	NUM
fsr-3458	292	210	,	,	PUNCT
fsr-3458	292	211	9	9	NUM
fsr-3458	292	212	5	5	NUM
fsr-3458	292	213	2	2	NUM
fsr-3458	292	214	$	$	SYM
fsr-3458	292	215	5	5	NUM
fsr-3458	292	216	,	,	PUNCT
fsr-3458	292	217	2	2	NUM
fsr-3458	292	218	7	7	NUM
fsr-3458	292	219	7	7	NUM
fsr-3458	292	220	$	$	SYM
fsr-3458	292	221	2	2	NUM
fsr-3458	292	222	1	1	NUM
fsr-3458	292	223	,	,	PUNCT
fsr-3458	292	224	0	0	NUM
fsr-3458	292	225	0	0	NUM
fsr-3458	292	226	6	6	NUM
fsr-3458	292	227	$	$	SYM
fsr-3458	292	228	1	1	NUM
fsr-3458	292	229	4	4	NUM
fsr-3458	292	230	,	,	PUNCT
fsr-3458	292	231	7	7	NUM
fsr-3458	292	232	5	5	NUM
fsr-3458	292	233	4	4	NUM
fsr-3458	292	234	$	$	SYM
fsr-3458	292	235	1	1	NUM
fsr-3458	292	236	1	1	NUM
fsr-3458	292	237	,	,	PUNCT
fsr-3458	292	238	6	6	NUM
fsr-3458	292	239	2	2	NUM
fsr-3458	292	240	8	8	NUM
fsr-3458	292	241	4	4	NUM
fsr-3458	292	242	)	)	PUNCT
fsr-3458	292	243	y	y	PROPN
fsr-3458	292	244	ea	ea	PROPN
fsr-3458	292	245	r	r	NOUN
fsr-3458	292	246	2	2	NUM
fsr-3458	292	247	fe	fe	X
fsr-3458	292	248	e	e	NOUN
fsr-3458	292	249	,	,	PUNCT
fsr-3458	292	250	to	to	ADP
fsr-3458	292	251	ta	ta	ADP
fsr-3458	292	252	l	l	NOUN
fsr-3458	292	253	$	$	SYM
fsr-3458	292	254	4	4	NUM
fsr-3458	292	255	,	,	PUNCT
fsr-3458	292	256	7	7	NUM
fsr-3458	292	257	61	61	NUM
fsr-3458	292	258	$	$	SYM
fsr-3458	292	259	3	3	NUM
fsr-3458	292	260	,	,	PUNCT
fsr-3458	292	261	9	9	NUM
fsr-3458	292	262	2	2	NUM
fsr-3458	292	263	9	9	NUM
fsr-3458	292	264	$	$	SYM
fsr-3458	292	265	3	3	NUM
fsr-3458	292	266	,	,	PUNCT
fsr-3458	292	267	5	5	NUM
fsr-3458	292	268	01	01	NUM
fsr-3458	292	269	$	$	SYM
fsr-3458	292	270	1	1	NUM
fsr-3458	292	271	6	6	NUM
fsr-3458	292	272	,	,	PUNCT
fsr-3458	292	273	7	7	NUM
fsr-3458	292	274	1	1	NUM
fsr-3458	292	275	7	7	NUM
fsr-3458	292	276	$	$	SYM
fsr-3458	292	277	1	1	NUM
fsr-3458	292	278	3	3	NUM
fsr-3458	292	279	,	,	PUNCT
fsr-3458	292	280	9	9	NUM
fsr-3458	292	281	4	4	NUM
fsr-3458	292	282	6	6	NUM
fsr-3458	292	283	$	$	SYM
fsr-3458	292	284	1	1	NUM
fsr-3458	292	285	2	2	NUM
fsr-3458	292	286	,	,	PUNCT
fsr-3458	292	287	2	2	NUM
fsr-3458	292	288	6	6	NUM
fsr-3458	292	289	4	4	NUM
fsr-3458	292	290	$	$	SYM
fsr-3458	292	291	3	3	NUM
fsr-3458	292	292	6	6	NUM
fsr-3458	292	293	,	,	PUNCT
fsr-3458	292	294	0	0	NUM
fsr-3458	292	295	0	0	NUM
fsr-3458	292	296	6	6	NUM
fsr-3458	292	297	$	$	SYM
fsr-3458	292	298	2	2	NUM
fsr-3458	292	299	9	9	NUM
fsr-3458	292	300	,	,	PUNCT
fsr-3458	292	301	8	8	NUM
fsr-3458	292	302	3	3	NUM
fsr-3458	292	303	7	7	NUM
fsr-3458	292	304	$	$	SYM
fsr-3458	292	305	2	2	NUM
fsr-3458	292	306	6	6	NUM
fsr-3458	292	307	,	,	PUNCT
fsr-3458	292	308	7	7	NUM
fsr-3458	292	309	4	4	NUM
fsr-3458	292	310	3	3	NUM
fsr-3458	292	311	5	5	NUM
fsr-3458	292	312	)	)	PUNCT
fsr-3458	292	313	n	n	PROPN
fsr-3458	292	314	w	w	PROPN
fsr-3458	292	315	fe	fe	X
fsr-3458	292	316	e	e	NOUN
fsr-3458	292	317	$	$	SYM
fsr-3458	292	318	1	1	NUM
fsr-3458	292	319	,	,	PUNCT
fsr-3458	292	320	8	8	NUM
fsr-3458	292	321	8	8	NUM
fsr-3458	292	322	8	8	NUM
fsr-3458	292	323	$	$	SYM
fsr-3458	292	324	1	1	NUM
fsr-3458	292	325	,	,	PUNCT
fsr-3458	292	326	9	9	NUM
fsr-3458	292	327	1	1	NUM
fsr-3458	292	328	6	6	NUM
fsr-3458	292	329	$	$	SYM
fsr-3458	292	330	1	1	NUM
fsr-3458	292	331	,	,	PUNCT
fsr-3458	292	332	9	9	NUM
fsr-3458	292	333	2	2	NUM
fsr-3458	292	334	9	9	NUM
fsr-3458	292	335	$	$	SYM
fsr-3458	292	336	6	6	NUM
fsr-3458	292	337	,	,	PUNCT
fsr-3458	292	338	6	6	NUM
fsr-3458	292	339	6	6	NUM
fsr-3458	292	340	4	4	NUM
fsr-3458	292	341	$	$	SYM
fsr-3458	292	342	6	6	NUM
fsr-3458	292	343	,	,	PUNCT
fsr-3458	292	344	7	7	NUM
fsr-3458	292	345	7	7	NUM
fsr-3458	292	346	0	0	NUM
fsr-3458	292	347	$	$	SYM
fsr-3458	292	348	6	6	NUM
fsr-3458	292	349	,	,	PUNCT
fsr-3458	292	350	8	8	NUM
fsr-3458	292	351	2	2	NUM
fsr-3458	292	352	0	0	NUM
fsr-3458	292	353	$	$	SYM
fsr-3458	292	354	1	1	NUM
fsr-3458	292	355	4	4	NUM
fsr-3458	292	356	,	,	PUNCT
fsr-3458	292	357	4	4	NUM
fsr-3458	292	358	0	0	NUM
fsr-3458	292	359	2	2	NUM
fsr-3458	292	360	$	$	SYM
fsr-3458	292	361	1	1	NUM
fsr-3458	292	362	4	4	NUM
fsr-3458	292	363	,	,	PUNCT
fsr-3458	292	364	6	6	NUM
fsr-3458	292	365	9	9	NUM
fsr-3458	292	366	7	7	NUM
fsr-3458	292	367	$	$	SYM
fsr-3458	292	368	1	1	NUM
fsr-3458	292	369	4	4	NUM
fsr-3458	292	370	,	,	PUNCT
fsr-3458	292	371	8	8	NUM
fsr-3458	292	372	4	4	NUM
fsr-3458	292	373	5	5	NUM
fsr-3458	292	374	6	6	NUM
fsr-3458	292	375	)	)	PUNCT
fsr-3458	292	376	i	i	PRON
fsr-3458	292	377	m	m	VERB
fsr-3458	292	378	fe	fe	X
fsr-3458	292	379	e	e	NOUN
fsr-3458	292	380	$	$	SYM
fsr-3458	292	381	2	2	NUM
fsr-3458	292	382	,	,	PUNCT
fsr-3458	292	383	8	8	NUM
fsr-3458	292	384	7	7	NUM
fsr-3458	292	385	3	3	NUM
fsr-3458	292	386	$	$	SYM
fsr-3458	292	387	1	1	NUM
fsr-3458	292	388	,	,	PUNCT
fsr-3458	292	389	9	9	NUM
fsr-3458	292	390	9	9	NUM
fsr-3458	292	391	3	3	NUM
fsr-3458	292	392	$	$	SYM
fsr-3458	292	393	1	1	NUM
fsr-3458	292	394	,	,	PUNCT
fsr-3458	292	395	5	5	NUM
fsr-3458	292	396	5	5	NUM
fsr-3458	292	397	2	2	NUM
fsr-3458	292	398	$	$	SYM
fsr-3458	292	399	1	1	NUM
fsr-3458	292	400	0	0	NUM
fsr-3458	292	401	,	,	PUNCT
fsr-3458	292	402	0	0	NUM
fsr-3458	292	403	5	5	NUM
fsr-3458	292	404	3	3	NUM
fsr-3458	292	405	$	$	SYM
fsr-3458	292	406	7	7	NUM
fsr-3458	292	407	,	,	PUNCT
fsr-3458	292	408	1	1	NUM
fsr-3458	292	409	5	5	NUM
fsr-3458	292	410	7	7	NUM
fsr-3458	292	411	$	$	SYM
fsr-3458	292	412	5	5	NUM
fsr-3458	292	413	,	,	PUNCT
fsr-3458	292	414	4	4	NUM
fsr-3458	292	415	2	2	NUM
fsr-3458	292	416	4	4	NUM
fsr-3458	292	417	$	$	SYM
fsr-3458	292	418	2	2	NUM
fsr-3458	292	419	1	1	NUM
fsr-3458	292	420	,	,	PUNCT
fsr-3458	292	421	6	6	NUM
fsr-3458	292	422	0	0	NUM
fsr-3458	292	423	3	3	NUM
fsr-3458	292	424	$	$	SYM
fsr-3458	292	425	1	1	NUM
fsr-3458	292	426	5	5	NUM
fsr-3458	292	427	,	,	PUNCT
fsr-3458	292	428	1	1	NUM
fsr-3458	292	429	2	2	NUM
fsr-3458	292	430	0	0	NUM
fsr-3458	292	431	$	$	SYM
fsr-3458	292	432	1	1	NUM
fsr-3458	292	433	1	1	NUM
fsr-3458	292	434	,	,	PUNCT
fsr-3458	292	435	8	8	NUM
fsr-3458	292	436	7	7	NUM
fsr-3458	292	437	8	8	NUM
fsr-3458	292	438	7	7	NUM
fsr-3458	292	439	)	)	PUNCT
fsr-3458	292	440	l	l	NOUN
fsr-3458	292	441	if	if	SCONJ
fsr-3458	292	442	et	et	PROPN
fsr-3458	292	443	i	i	NOUN
fsr-3458	292	444	m	m	VERB
fsr-3458	292	445	e	e	X
fsr-3458	292	446	fe	fe	X
fsr-3458	292	447	es	es	X
fsr-3458	292	448	$	$	SYM
fsr-3458	292	449	4	4	NUM
fsr-3458	292	450	2	2	NUM
fsr-3458	292	451	4	4	NUM
fsr-3458	292	452	,	,	PUNCT
fsr-3458	292	453	9	9	NUM
fsr-3458	292	454	7	7	NUM
fsr-3458	292	455	1	1	NUM
fsr-3458	292	456	$	$	SYM
fsr-3458	292	457	3	3	NUM
fsr-3458	292	458	9	9	NUM
fsr-3458	292	459	5	5	NUM
fsr-3458	292	460	,	,	PUNCT
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fsr-3458	292	462	7	7	NUM
fsr-3458	292	463	2	2	NUM
fsr-3458	292	464	$	$	SYM
fsr-3458	292	465	3	3	NUM
fsr-3458	292	466	7	7	NUM
fsr-3458	292	467	8	8	NUM
fsr-3458	292	468	,	,	PUNCT
fsr-3458	292	469	3	3	NUM
fsr-3458	292	470	5	5	NUM
fsr-3458	292	471	0	0	NUM
fsr-3458	292	472	$	$	SYM
fsr-3458	292	473	4	4	NUM
fsr-3458	292	474	5	5	NUM
fsr-3458	292	475	0	0	NUM
fsr-3458	292	476	,	,	PUNCT
fsr-3458	292	477	8	8	NUM
fsr-3458	292	478	6	6	NUM
fsr-3458	292	479	4	4	NUM
fsr-3458	292	480	$	$	SYM
fsr-3458	292	481	3	3	NUM
fsr-3458	292	482	9	9	NUM
fsr-3458	292	483	4	4	NUM
fsr-3458	292	484	,	,	PUNCT
fsr-3458	292	485	5	5	NUM
fsr-3458	292	486	4	4	NUM
fsr-3458	292	487	2	2	NUM
fsr-3458	292	488	$	$	SYM
fsr-3458	292	489	3	3	NUM
fsr-3458	292	490	6	6	NUM
fsr-3458	292	491	2	2	NUM
fsr-3458	292	492	,	,	PUNCT
fsr-3458	292	493	2	2	NUM
fsr-3458	292	494	9	9	NUM
fsr-3458	292	495	3	3	NUM
fsr-3458	292	496	$	$	SYM
fsr-3458	292	497	4	4	NUM
fsr-3458	292	498	1	1	NUM
fsr-3458	292	499	7	7	NUM
fsr-3458	292	500	,	,	PUNCT
fsr-3458	292	501	0	0	NUM
fsr-3458	292	502	5	5	NUM
fsr-3458	292	503	0	0	NUM
fsr-3458	292	504	$	$	SYM
fsr-3458	292	505	3	3	NUM
fsr-3458	292	506	5	5	NUM
fsr-3458	292	507	3	3	NUM
fsr-3458	292	508	,	,	PUNCT
fsr-3458	292	509	9	9	NUM
fsr-3458	292	510	3	3	NUM
fsr-3458	292	511	5	5	NUM
fsr-3458	292	512	$	$	SYM
fsr-3458	292	513	3	3	NUM
fsr-3458	292	514	2	2	NUM
fsr-3458	292	515	2	2	NUM
fsr-3458	292	516	,	,	PUNCT
fsr-3458	292	517	2	2	NUM
fsr-3458	292	518	8	8	NUM
fsr-3458	292	519	0	0	NUM
fsr-3458	292	520	8	8	NUM
fsr-3458	292	521	)	)	PUNCT
fsr-3458	292	522	n	n	PROPN
fsr-3458	292	523	w	w	PROPN
fsr-3458	292	524	fe	fe	X
fsr-3458	292	525	es	es	X
fsr-3458	292	526	$	$	SYM
fsr-3458	292	527	1	1	NUM
fsr-3458	292	528	6	6	NUM
fsr-3458	292	529	9	9	NUM
fsr-3458	292	530	,	,	PUNCT
fsr-3458	292	531	2	2	NUM
fsr-3458	292	532	1	1	NUM
fsr-3458	292	533	9	9	NUM
fsr-3458	292	534	$	$	SYM
fsr-3458	292	535	2	2	NUM
fsr-3458	292	536	2	2	NUM
fsr-3458	292	537	6	6	NUM
fsr-3458	292	538	,	,	PUNCT
fsr-3458	292	539	1	1	NUM
fsr-3458	292	540	1	1	NUM
fsr-3458	292	541	5	5	NUM
fsr-3458	292	542	$	$	SYM
fsr-3458	292	543	2	2	NUM
fsr-3458	292	544	5	5	NUM
fsr-3458	292	545	3	3	NUM
fsr-3458	292	546	,	,	PUNCT
fsr-3458	292	547	9	9	NUM
fsr-3458	292	548	4	4	NUM
fsr-3458	292	549	5	5	NUM
fsr-3458	292	550	$	$	SYM
fsr-3458	292	551	1	1	NUM
fsr-3458	292	552	8	8	NUM
fsr-3458	292	553	4	4	NUM
fsr-3458	292	554	,	,	PUNCT
fsr-3458	292	555	0	0	NUM
fsr-3458	292	556	2	2	NUM
fsr-3458	292	557	4	4	NUM
fsr-3458	292	558	$	$	SYM
fsr-3458	292	559	2	2	NUM
fsr-3458	292	560	0	0	NUM
fsr-3458	292	561	6	6	NUM
fsr-3458	292	562	,	,	PUNCT
fsr-3458	292	563	8	8	NUM
fsr-3458	292	564	6	6	NUM
fsr-3458	292	565	2	2	NUM
fsr-3458	292	566	$	$	SYM
fsr-3458	292	567	2	2	NUM
fsr-3458	292	568	1	1	NUM
fsr-3458	292	569	8	8	NUM
fsr-3458	292	570	,	,	PUNCT
fsr-3458	292	571	3	3	NUM
fsr-3458	292	572	6	6	NUM
fsr-3458	292	573	2	2	NUM
fsr-3458	292	574	$	$	SYM
fsr-3458	292	575	1	1	NUM
fsr-3458	292	576	7	7	NUM
fsr-3458	292	577	5	5	NUM
fsr-3458	292	578	,	,	PUNCT
fsr-3458	292	579	2	2	NUM
fsr-3458	292	580	2	2	NUM
fsr-3458	292	581	3	3	NUM
fsr-3458	292	582	$	$	SYM
fsr-3458	292	583	1	1	NUM
fsr-3458	292	584	8	8	NUM
fsr-3458	292	585	6	6	NUM
fsr-3458	292	586	,	,	PUNCT
fsr-3458	292	587	1	1	NUM
fsr-3458	292	588	7	7	NUM
fsr-3458	292	589	7	7	NUM
fsr-3458	292	590	$	$	SYM
fsr-3458	292	591	1	1	NUM
fsr-3458	292	592	9	9	NUM
fsr-3458	292	593	1	1	NUM
fsr-3458	292	594	,	,	PUNCT
fsr-3458	292	595	6	6	NUM
fsr-3458	292	596	5	5	NUM
fsr-3458	292	597	5	5	NUM
fsr-3458	292	598	9	9	NUM
fsr-3458	292	599	)	)	PUNCT
fsr-3458	293	1	i	i	PRON
fsr-3458	293	2	m	m	VERB
fsr-3458	293	3	fe	fe	ADJ
fsr-3458	293	4	es	es	INTJ
fsr-3458	293	5	$	$	SYM
fsr-3458	293	6	2	2	NUM
fsr-3458	293	7	5	5	NUM
fsr-3458	293	8	5	5	NUM
fsr-3458	293	9	,	,	PUNCT
fsr-3458	293	10	7	7	NUM
fsr-3458	293	11	5	5	NUM
fsr-3458	293	12	2	2	NUM
fsr-3458	293	13	$	$	SYM
fsr-3458	293	14	1	1	NUM
fsr-3458	293	15	6	6	NUM
fsr-3458	293	16	9	9	NUM
fsr-3458	293	17	,	,	PUNCT
fsr-3458	293	18	0	0	NUM
fsr-3458	293	19	6	6	NUM
fsr-3458	293	20	1	1	NUM
fsr-3458	293	21	$	$	SYM
fsr-3458	293	22	1	1	NUM
fsr-3458	293	23	2	2	NUM
fsr-3458	293	24	3	3	NUM
fsr-3458	293	25	,	,	PUNCT
fsr-3458	293	26	6	6	NUM
fsr-3458	293	27	0	0	NUM
fsr-3458	293	28	9	9	NUM
fsr-3458	293	29	$	$	SYM
fsr-3458	293	30	2	2	NUM
fsr-3458	293	31	6	6	NUM
fsr-3458	293	32	6	6	NUM
fsr-3458	293	33	,	,	PUNCT
fsr-3458	293	34	8	8	NUM
fsr-3458	293	35	4	4	NUM
fsr-3458	293	36	0	0	NUM
fsr-3458	293	37	$	$	SYM
fsr-3458	293	38	1	1	NUM
fsr-3458	293	39	8	8	NUM
fsr-3458	293	40	7	7	NUM
fsr-3458	293	41	,	,	PUNCT
fsr-3458	293	42	2	2	NUM
fsr-3458	293	43	8	8	NUM
fsr-3458	293	44	2	2	NUM
fsr-3458	293	45	$	$	SYM
fsr-3458	293	46	1	1	NUM
fsr-3458	293	47	4	4	NUM
fsr-3458	293	48	3	3	NUM
fsr-3458	293	49	,	,	PUNCT
fsr-3458	293	50	5	5	NUM
fsr-3458	293	51	3	3	NUM
fsr-3458	293	52	3	3	NUM
fsr-3458	293	53	$	$	SYM
fsr-3458	293	54	2	2	NUM
fsr-3458	293	55	4	4	NUM
fsr-3458	293	56	1	1	NUM
fsr-3458	293	57	,	,	PUNCT
fsr-3458	293	58	8	8	NUM
fsr-3458	293	59	2	2	NUM
fsr-3458	293	60	7	7	NUM
fsr-3458	293	61	$	$	SYM
fsr-3458	293	62	1	1	NUM
fsr-3458	293	63	6	6	NUM
fsr-3458	293	64	7	7	NUM
fsr-3458	293	65	,	,	PUNCT
fsr-3458	293	66	5	5	NUM
fsr-3458	293	67	5	5	NUM
fsr-3458	293	68	9	9	NUM
fsr-3458	293	69	$	$	SYM
fsr-3458	293	70	1	1	NUM
fsr-3458	293	71	3	3	NUM
fsr-3458	293	72	0	0	NUM
fsr-3458	293	73	,	,	PUNCT
fsr-3458	293	74	4	4	NUM
fsr-3458	293	75	2	2	NUM
fsr-3458	293	76	6	6	NUM
fsr-3458	293	77	1	1	NUM
fsr-3458	293	78	0	0	NUM
fsr-3458	293	79	)	)	PUNCT
fsr-3458	293	80	t	t	NOUN
fsr-3458	293	81	er	er	INTJ
fsr-3458	293	82	m	m	VERB
fsr-3458	293	83	in	in	ADP
fsr-3458	293	84	al	al	PROPN
fsr-3458	294	1	p	p	PROPN
fsr-3458	295	1	o	o	X
fsr-3458	295	2	rt	rt	INTJ
fsr-3458	295	3	fo	fo	INTJ
fsr-3458	295	4	li	li	PROPN
fsr-3458	295	5	o	o	NOUN
fsr-3458	295	6	$	$	SYM
fsr-3458	295	7	3	3	NUM
fsr-3458	295	8	,	,	PUNCT
fsr-3458	295	9	3	3	NUM
fsr-3458	295	10	3	3	NUM
fsr-3458	295	11	1	1	NUM
fsr-3458	295	12	,	,	PUNCT
fsr-3458	295	13	7	7	NUM
fsr-3458	295	14	8	8	NUM
fsr-3458	295	15	0	0	NUM
fsr-3458	295	16	$	$	SYM
fsr-3458	295	17	5	5	NUM
fsr-3458	295	18	,	,	PUNCT
fsr-3458	295	19	8	8	NUM
fsr-3458	295	20	8	8	NUM
fsr-3458	295	21	5	5	NUM
fsr-3458	295	22	,	,	PUNCT
fsr-3458	295	23	3	3	NUM
fsr-3458	295	24	9	9	NUM
fsr-3458	295	25	3	3	NUM
fsr-3458	295	26	$	$	SYM
fsr-3458	295	27	7	7	NUM
fsr-3458	295	28	,	,	PUNCT
fsr-3458	295	29	1	1	NUM
fsr-3458	295	30	6	6	NUM
fsr-3458	295	31	8	8	NUM
fsr-3458	295	32	,	,	PUNCT
fsr-3458	295	33	0	0	NUM
fsr-3458	295	34	9	9	NUM
fsr-3458	295	35	3	3	NUM
fsr-3458	295	36	$	$	SYM
fsr-3458	295	37	5	5	NUM
fsr-3458	295	38	,	,	PUNCT
fsr-3458	295	39	1	1	NUM
fsr-3458	295	40	9	9	NUM
fsr-3458	295	41	0	0	NUM
fsr-3458	295	42	,	,	PUNCT
fsr-3458	295	43	7	7	NUM
fsr-3458	295	44	8	8	NUM
fsr-3458	295	45	2	2	NUM
fsr-3458	295	46	$	$	SYM
fsr-3458	295	47	6	6	NUM
fsr-3458	295	48	,	,	PUNCT
fsr-3458	295	49	7	7	NUM
fsr-3458	295	50	2	2	NUM
fsr-3458	295	51	3	3	NUM
fsr-3458	295	52	,	,	PUNCT
fsr-3458	295	53	2	2	NUM
fsr-3458	295	54	0	0	NUM
fsr-3458	295	55	9	9	NUM
fsr-3458	295	56	$	$	SYM
fsr-3458	295	57	7	7	NUM
fsr-3458	295	58	,	,	PUNCT
fsr-3458	295	59	4	4	NUM
fsr-3458	295	60	9	9	NUM
fsr-3458	295	61	6	6	NUM
fsr-3458	295	62	,	,	PUNCT
fsr-3458	295	63	4	4	NUM
fsr-3458	295	64	7	7	NUM
fsr-3458	295	65	2	2	NUM
fsr-3458	295	66	$	$	SYM
fsr-3458	295	67	8	8	NUM
fsr-3458	295	68	,	,	PUNCT
fsr-3458	295	69	4	4	NUM
fsr-3458	295	70	4	4	NUM
fsr-3458	295	71	3	3	NUM
fsr-3458	295	72	,	,	PUNCT
fsr-3458	295	73	1	1	NUM
fsr-3458	295	74	6	6	NUM
fsr-3458	295	75	6	6	NUM
fsr-3458	295	76	$	$	SYM
fsr-3458	295	77	9	9	NUM
fsr-3458	295	78	,	,	PUNCT
fsr-3458	295	79	6	6	NUM
fsr-3458	295	80	1	1	NUM
fsr-3458	295	81	2	2	NUM
fsr-3458	295	82	,	,	PUNCT
fsr-3458	295	83	3	3	NUM
fsr-3458	295	84	6	6	NUM
fsr-3458	295	85	4	4	NUM
fsr-3458	295	86	$	$	SYM
fsr-3458	295	87	1	1	NUM
fsr-3458	295	88	0	0	NUM
fsr-3458	295	89	,	,	PUNCT
fsr-3458	295	90	1	1	NUM
fsr-3458	295	91	9	9	NUM
fsr-3458	295	92	7	7	NUM
fsr-3458	295	93	,	,	PUNCT
fsr-3458	295	94	0	0	NUM
fsr-3458	295	95	7	7	NUM
fsr-3458	295	96	9	9	NUM
fsr-3458	295	97	1	1	NUM
fsr-3458	295	98	1	1	NUM
fsr-3458	295	99	)	)	PUNCT
fsr-3458	295	100	t	t	NOUN
fsr-3458	295	101	er	er	INTJ
fsr-3458	295	102	m	m	VERB
fsr-3458	295	103	in	in	ADP
fsr-3458	295	104	al	al	PROPN
fsr-3458	296	1	i	i	PRON
fsr-3458	296	2	m	m	VERB
fsr-3458	296	3	p	p	NOUN
fsr-3458	297	1	o	o	X
fsr-3458	297	2	rt	rt	INTJ
fsr-3458	297	3	fo	fo	INTJ
fsr-3458	297	4	li	li	PROPN
fsr-3458	297	5	o	o	NOUN
fsr-3458	297	6	$	$	SYM
fsr-3458	297	7	3	3	NUM
fsr-3458	297	8	,	,	PUNCT
fsr-3458	297	9	3	3	NUM
fsr-3458	297	10	3	3	NUM
fsr-3458	297	11	1	1	NUM
fsr-3458	297	12	,	,	PUNCT
fsr-3458	297	13	7	7	NUM
fsr-3458	297	14	8	8	NUM
fsr-3458	297	15	0	0	NUM
fsr-3458	297	16	$	$	SYM
fsr-3458	297	17	1	1	NUM
fsr-3458	297	18	,	,	PUNCT
fsr-3458	297	19	9	9	NUM
fsr-3458	297	20	8	8	NUM
fsr-3458	297	21	3	3	NUM
fsr-3458	297	22	,	,	PUNCT
fsr-3458	297	23	8	8	NUM
fsr-3458	297	24	9	9	NUM
fsr-3458	297	25	7	7	NUM
fsr-3458	297	26	$	$	SYM
fsr-3458	297	27	1	1	NUM
fsr-3458	297	28	,	,	PUNCT
fsr-3458	297	29	3	3	NUM
fsr-3458	297	30	1	1	NUM
fsr-3458	297	31	5	5	NUM
fsr-3458	297	32	,	,	PUNCT
fsr-3458	297	33	8	8	NUM
fsr-3458	297	34	5	5	NUM
fsr-3458	297	35	0	0	NUM
fsr-3458	297	36	$	$	SYM
fsr-3458	297	37	5	5	NUM
fsr-3458	297	38	,	,	PUNCT
fsr-3458	297	39	1	1	NUM
fsr-3458	297	40	9	9	NUM
fsr-3458	297	41	0	0	NUM
fsr-3458	297	42	,	,	PUNCT
fsr-3458	297	43	7	7	NUM
fsr-3458	297	44	8	8	NUM
fsr-3458	297	45	2	2	NUM
fsr-3458	297	46	$	$	SYM
fsr-3458	297	47	3	3	NUM
fsr-3458	297	48	,	,	PUNCT
fsr-3458	297	49	3	3	NUM
fsr-3458	297	50	2	2	NUM
fsr-3458	297	51	1	1	NUM
fsr-3458	297	52	,	,	PUNCT
fsr-3458	297	53	2	2	NUM
fsr-3458	297	54	1	1	NUM
fsr-3458	297	55	5	5	NUM
fsr-3458	297	56	$	$	SYM
fsr-3458	297	57	2	2	NUM
fsr-3458	297	58	,	,	PUNCT
fsr-3458	297	59	3	3	NUM
fsr-3458	297	60	9	9	NUM
fsr-3458	297	61	3	3	NUM
fsr-3458	297	62	,	,	PUNCT
fsr-3458	297	63	4	4	NUM
fsr-3458	297	64	8	8	NUM
fsr-3458	297	65	1	1	NUM
fsr-3458	297	66	$	$	SYM
fsr-3458	297	67	8	8	NUM
fsr-3458	297	68	,	,	PUNCT
fsr-3458	297	69	4	4	NUM
fsr-3458	297	70	4	4	NUM
fsr-3458	297	71	3	3	NUM
fsr-3458	297	72	,	,	PUNCT
fsr-3458	297	73	1	1	NUM
fsr-3458	297	74	6	6	NUM
fsr-3458	297	75	6	6	NUM
fsr-3458	297	76	$	$	SYM
fsr-3458	297	77	5	5	NUM
fsr-3458	297	78	,	,	PUNCT
fsr-3458	297	79	5	5	NUM
fsr-3458	297	80	3	3	NUM
fsr-3458	297	81	7	7	NUM
fsr-3458	297	82	,	,	PUNCT
fsr-3458	297	83	7	7	NUM
fsr-3458	297	84	8	8	NUM
fsr-3458	297	85	0	0	NUM
fsr-3458	297	86	$	$	SYM
fsr-3458	297	87	4	4	NUM
fsr-3458	297	88	,	,	PUNCT
fsr-3458	297	89	0	0	NUM
fsr-3458	297	90	8	8	NUM
fsr-3458	297	91	5	5	NUM
fsr-3458	297	92	,	,	PUNCT
fsr-3458	297	93	2	2	NUM
fsr-3458	297	94	0	0	NUM
fsr-3458	297	95	6	6	NUM
fsr-3458	297	96	p	p	NOUN
fsr-3458	297	97	an	an	DET
fsr-3458	297	98	el	el	PROPN
fsr-3458	297	99	b	b	PROPN
fsr-3458	297	100	a	a	DET
fsr-3458	297	101	u	u	NOUN
fsr-3458	297	102	m	m	PROPN
fsr-3458	297	103	fe	fe	X
fsr-3458	297	104	e	e	PROPN
fsr-3458	297	105	st	st	PROPN
fsr-3458	297	106	ru	ru	PROPN
fsr-3458	297	107	ct	ct	PROPN
fsr-3458	297	108	u	u	PROPN
fsr-3458	297	109	re	re	X
fsr-3458	297	110	(	(	PUNCT
fsr-3458	297	111	f	f	PROPN
fsr-3458	297	112	ee	ee	PROPN
fsr-3458	297	113	-o	-o	X
fsr-3458	297	114	n	n	X
fsr-3458	297	115	ly	ly	VERB
fsr-3458	297	116	)	)	PUNCT
fsr-3458	297	117	1	1	NUM
fsr-3458	297	118	2	2	NUM
fsr-3458	297	119	)	)	PUNCT
fsr-3458	297	120	y	y	PROPN
fsr-3458	297	121	ea	ea	PROPN
fsr-3458	297	122	r	r	NOUN
fsr-3458	297	123	1	1	NUM
fsr-3458	297	124	fe	fe	X
fsr-3458	297	125	e	e	NOUN
fsr-3458	297	126	,	,	PUNCT
fsr-3458	297	127	to	to	ADP
fsr-3458	297	128	ta	ta	ADP
fsr-3458	297	129	l	l	NOUN
fsr-3458	297	130	$	$	SYM
fsr-3458	297	131	6	6	NUM
fsr-3458	297	132	,	,	PUNCT
fsr-3458	297	133	4	4	NUM
fsr-3458	297	134	53	53	NUM
fsr-3458	297	135	$	$	SYM
fsr-3458	297	136	4	4	NUM
fsr-3458	297	137	,	,	PUNCT
fsr-3458	297	138	5	5	NUM
fsr-3458	297	139	5	5	NUM
fsr-3458	297	140	9	9	NUM
fsr-3458	297	141	$	$	SYM
fsr-3458	297	142	3	3	NUM
fsr-3458	297	143	,	,	PUNCT
fsr-3458	297	144	6	6	NUM
fsr-3458	297	145	10	10	NUM
fsr-3458	297	146	$	$	SYM
fsr-3458	297	147	2	2	NUM
fsr-3458	297	148	1	1	NUM
fsr-3458	297	149	,	,	PUNCT
fsr-3458	297	150	8	8	NUM
fsr-3458	297	151	4	4	NUM
fsr-3458	297	152	9	9	NUM
fsr-3458	297	153	$	$	SYM
fsr-3458	297	154	1	1	NUM
fsr-3458	297	155	5	5	NUM
fsr-3458	297	156	,	,	PUNCT
fsr-3458	297	157	8	8	NUM
fsr-3458	297	158	4	4	NUM
fsr-3458	297	159	9	9	NUM
fsr-3458	297	160	$	$	SYM
fsr-3458	297	161	1	1	NUM
fsr-3458	297	162	2	2	NUM
fsr-3458	297	163	,	,	PUNCT
fsr-3458	297	164	0	0	NUM
fsr-3458	297	165	8	8	NUM
fsr-3458	297	166	0	0	NUM
fsr-3458	297	167	$	$	SYM
fsr-3458	297	168	4	4	NUM
fsr-3458	297	169	4	4	NUM
fsr-3458	297	170	,	,	PUNCT
fsr-3458	297	171	2	2	NUM
fsr-3458	297	172	8	8	NUM
fsr-3458	297	173	3	3	NUM
fsr-3458	297	174	$	$	SYM
fsr-3458	297	175	3	3	NUM
fsr-3458	297	176	1	1	NUM
fsr-3458	297	177	,	,	PUNCT
fsr-3458	297	178	7	7	NUM
fsr-3458	297	179	7	7	NUM
fsr-3458	297	180	9	9	NUM
fsr-3458	297	181	$	$	SYM
fsr-3458	297	182	2	2	NUM
fsr-3458	297	183	5	5	NUM
fsr-3458	297	184	,	,	PUNCT
fsr-3458	297	185	5	5	NUM
fsr-3458	297	186	2	2	NUM
fsr-3458	297	187	6	6	NUM
fsr-3458	297	188	1	1	NUM
fsr-3458	297	189	3	3	NUM
fsr-3458	297	190	)	)	PUNCT
fsr-3458	297	191	y	y	PROPN
fsr-3458	297	192	ea	ea	PROPN
fsr-3458	297	193	r	r	NOUN
fsr-3458	297	194	2	2	NUM
fsr-3458	297	195	fe	fe	X
fsr-3458	297	196	e	e	NOUN
fsr-3458	297	197	,	,	PUNCT
fsr-3458	297	198	to	to	ADP
fsr-3458	297	199	ta	ta	ADP
fsr-3458	297	200	l	l	NOUN
fsr-3458	297	201	$	$	SYM
fsr-3458	297	202	6	6	NUM
fsr-3458	297	203	,	,	PUNCT
fsr-3458	297	204	6	6	NUM
fsr-3458	297	205	72	72	NUM
fsr-3458	297	206	$	$	SYM
fsr-3458	297	207	4	4	NUM
fsr-3458	297	208	,	,	PUNCT
fsr-3458	297	209	7	7	NUM
fsr-3458	297	210	0	0	NUM
fsr-3458	297	211	2	2	NUM
fsr-3458	297	212	$	$	SYM
fsr-3458	297	213	3	3	NUM
fsr-3458	297	214	,	,	PUNCT
fsr-3458	297	215	7	7	NUM
fsr-3458	297	216	14	14	NUM
fsr-3458	297	217	$	$	SYM
fsr-3458	297	218	2	2	NUM
fsr-3458	297	219	2	2	NUM
fsr-3458	297	220	,	,	PUNCT
fsr-3458	297	221	3	3	NUM
fsr-3458	297	222	7	7	NUM
fsr-3458	297	223	9	9	NUM
fsr-3458	297	224	$	$	SYM
fsr-3458	297	225	1	1	NUM
fsr-3458	297	226	6	6	NUM
fsr-3458	297	227	,	,	PUNCT
fsr-3458	297	228	3	3	NUM
fsr-3458	297	229	4	4	NUM
fsr-3458	297	230	1	1	NUM
fsr-3458	297	231	$	$	SYM
fsr-3458	297	232	1	1	NUM
fsr-3458	297	233	2	2	NUM
fsr-3458	297	234	,	,	PUNCT
fsr-3458	297	235	4	4	NUM
fsr-3458	297	236	7	7	NUM
fsr-3458	297	237	1	1	NUM
fsr-3458	297	238	$	$	SYM
fsr-3458	297	239	4	4	NUM
fsr-3458	297	240	5	5	NUM
fsr-3458	297	241	,	,	PUNCT
fsr-3458	297	242	5	5	NUM
fsr-3458	297	243	0	0	NUM
fsr-3458	297	244	6	6	NUM
fsr-3458	297	245	$	$	SYM
fsr-3458	297	246	3	3	NUM
fsr-3458	297	247	2	2	NUM
fsr-3458	297	248	,	,	PUNCT
fsr-3458	297	249	5	5	NUM
fsr-3458	297	250	8	8	NUM
fsr-3458	297	251	0	0	NUM
fsr-3458	297	252	$	$	SYM
fsr-3458	297	253	2	2	NUM
fsr-3458	297	254	6	6	NUM
fsr-3458	297	255	,	,	PUNCT
fsr-3458	297	256	1	1	NUM
fsr-3458	297	257	1	1	NUM
fsr-3458	297	258	7	7	NUM
fsr-3458	297	259	1	1	NUM
fsr-3458	297	260	4	4	NUM
fsr-3458	297	261	)	)	PUNCT
fsr-3458	297	262	l	l	NOUN
fsr-3458	297	263	if	if	SCONJ
fsr-3458	297	264	et	et	PROPN
fsr-3458	297	265	i	i	NOUN
fsr-3458	297	266	m	m	VERB
fsr-3458	297	267	e	e	X
fsr-3458	297	268	fe	fe	X
fsr-3458	297	269	es	es	X
fsr-3458	297	270	$	$	SYM
fsr-3458	297	271	5	5	NUM
fsr-3458	297	272	4	4	NUM
fsr-3458	297	273	3	3	NUM
fsr-3458	297	274	,	,	PUNCT
fsr-3458	297	275	5	5	NUM
fsr-3458	297	276	1	1	NUM
fsr-3458	297	277	4	4	NUM
fsr-3458	297	278	$	$	SYM
fsr-3458	297	279	3	3	NUM
fsr-3458	297	280	8	8	NUM
fsr-3458	297	281	0	0	NUM
fsr-3458	297	282	,	,	PUNCT
fsr-3458	297	283	3	3	NUM
fsr-3458	297	284	6	6	NUM
fsr-3458	297	285	5	5	NUM
fsr-3458	297	286	$	$	SYM
fsr-3458	297	287	2	2	NUM
fsr-3458	297	288	9	9	NUM
fsr-3458	297	289	4	4	NUM
fsr-3458	297	290	,	,	PUNCT
fsr-3458	297	291	3	3	NUM
fsr-3458	297	292	9	9	NUM
fsr-3458	297	293	8	8	NUM
fsr-3458	297	294	$	$	SYM
fsr-3458	297	295	5	5	NUM
fsr-3458	297	296	7	7	NUM
fsr-3458	297	297	0	0	NUM
fsr-3458	297	298	,	,	PUNCT
fsr-3458	297	299	6	6	NUM
fsr-3458	297	300	2	2	NUM
fsr-3458	297	301	1	1	NUM
fsr-3458	297	302	$	$	SYM
fsr-3458	297	303	4	4	NUM
fsr-3458	297	304	1	1	NUM
fsr-3458	297	305	5	5	NUM
fsr-3458	297	306	,	,	PUNCT
fsr-3458	297	307	2	2	NUM
fsr-3458	297	308	6	6	NUM
fsr-3458	297	309	8	8	NUM
fsr-3458	297	310	$	$	SYM
fsr-3458	297	311	3	3	NUM
fsr-3458	297	312	2	2	NUM
fsr-3458	297	313	6	6	NUM
fsr-3458	297	314	,	,	PUNCT
fsr-3458	297	315	8	8	NUM
fsr-3458	297	316	4	4	NUM
fsr-3458	297	317	1	1	NUM
fsr-3458	297	318	$	$	SYM
fsr-3458	297	319	5	5	NUM
fsr-3458	297	320	0	0	NUM
fsr-3458	297	321	4	4	NUM
fsr-3458	297	322	,	,	PUNCT
fsr-3458	297	323	2	2	NUM
fsr-3458	297	324	2	2	NUM
fsr-3458	297	325	0	0	NUM
fsr-3458	297	326	$	$	SYM
fsr-3458	297	327	3	3	NUM
fsr-3458	297	328	5	5	NUM
fsr-3458	297	329	8	8	NUM
fsr-3458	297	330	,	,	PUNCT
fsr-3458	297	331	0	0	NUM
fsr-3458	297	332	1	1	NUM
fsr-3458	297	333	7	7	NUM
fsr-3458	297	334	$	$	SYM
fsr-3458	297	335	2	2	NUM
fsr-3458	297	336	8	8	NUM
fsr-3458	297	337	4	4	NUM
fsr-3458	297	338	,	,	PUNCT
fsr-3458	297	339	9	9	NUM
fsr-3458	297	340	1	1	NUM
fsr-3458	297	341	6	6	NUM
fsr-3458	297	342	1	1	NUM
fsr-3458	297	343	5	5	NUM
fsr-3458	297	344	)	)	PUNCT
fsr-3458	297	345	t	t	NOUN
fsr-3458	297	346	er	er	INTJ
fsr-3458	297	347	m	m	VERB
fsr-3458	297	348	in	in	ADP
fsr-3458	297	349	al	al	PROPN
fsr-3458	297	350	p	p	PROPN
fsr-3458	298	1	o	o	X
fsr-3458	298	2	rt	rt	INTJ
fsr-3458	298	3	fo	fo	INTJ
fsr-3458	298	4	li	li	PROPN
fsr-3458	298	5	o	o	NOUN
fsr-3458	298	6	$	$	SYM
fsr-3458	298	7	3	3	NUM
fsr-3458	298	8	,	,	PUNCT
fsr-3458	298	9	0	0	NUM
fsr-3458	298	10	1	1	NUM
fsr-3458	298	11	7	7	NUM
fsr-3458	298	12	,	,	PUNCT
fsr-3458	298	13	9	9	NUM
fsr-3458	298	14	4	4	NUM
fsr-3458	298	15	0	0	NUM
fsr-3458	298	16	$	$	SYM
fsr-3458	298	17	1	1	NUM
fsr-3458	298	18	,	,	PUNCT
fsr-3458	298	19	9	9	NUM
fsr-3458	298	20	6	6	NUM
fsr-3458	298	21	9	9	NUM
fsr-3458	298	22	,	,	PUNCT
fsr-3458	298	23	3	3	NUM
fsr-3458	298	24	8	8	NUM
fsr-3458	298	25	2	2	NUM
fsr-3458	298	26	$	$	SYM
fsr-3458	298	27	1	1	NUM
fsr-3458	298	28	,	,	PUNCT
fsr-3458	298	29	4	4	NUM
fsr-3458	298	30	5	5	NUM
fsr-3458	298	31	2	2	NUM
fsr-3458	298	32	,	,	PUNCT
fsr-3458	298	33	8	8	NUM
fsr-3458	298	34	8	8	NUM
fsr-3458	298	35	4	4	NUM
fsr-3458	298	36	$	$	SYM
fsr-3458	298	37	5	5	NUM
fsr-3458	298	38	,	,	PUNCT
fsr-3458	298	39	0	0	NUM
fsr-3458	298	40	1	1	NUM
fsr-3458	298	41	0	0	NUM
fsr-3458	298	42	,	,	PUNCT
fsr-3458	298	43	1	1	NUM
fsr-3458	298	44	0	0	NUM
fsr-3458	298	45	7	7	NUM
fsr-3458	298	46	$	$	SYM
fsr-3458	298	47	3	3	NUM
fsr-3458	298	48	,	,	PUNCT
fsr-3458	298	49	2	2	NUM
fsr-3458	298	50	8	8	NUM
fsr-3458	298	51	6	6	NUM
fsr-3458	298	52	,	,	PUNCT
fsr-3458	298	53	0	0	NUM
fsr-3458	298	54	1	1	NUM
fsr-3458	298	55	0	0	NUM
fsr-3458	298	56	$	$	SYM
fsr-3458	298	57	2	2	NUM
fsr-3458	298	58	,	,	PUNCT
fsr-3458	298	59	4	4	NUM
fsr-3458	298	60	4	4	NUM
fsr-3458	298	61	2	2	NUM
fsr-3458	298	62	,	,	PUNCT
fsr-3458	298	63	8	8	NUM
fsr-3458	298	64	2	2	NUM
fsr-3458	298	65	8	8	NUM
fsr-3458	298	66	$	$	SYM
fsr-3458	298	67	8	8	NUM
fsr-3458	298	68	,	,	PUNCT
fsr-3458	298	69	3	3	NUM
fsr-3458	298	70	4	4	NUM
fsr-3458	298	71	2	2	NUM
fsr-3458	298	72	,	,	PUNCT
fsr-3458	298	73	0	0	NUM
fsr-3458	298	74	9	9	NUM
fsr-3458	298	75	5	5	NUM
fsr-3458	298	76	$	$	SYM
fsr-3458	298	77	5	5	NUM
fsr-3458	298	78	,	,	PUNCT
fsr-3458	298	79	5	5	NUM
fsr-3458	298	80	3	3	NUM
fsr-3458	298	81	5	5	NUM
fsr-3458	298	82	,	,	PUNCT
fsr-3458	298	83	0	0	NUM
fsr-3458	298	84	0	0	NUM
fsr-3458	298	85	0	0	NUM
fsr-3458	298	86	$	$	SYM
fsr-3458	298	87	4	4	NUM
fsr-3458	298	88	,	,	PUNCT
fsr-3458	298	89	1	1	NUM
fsr-3458	298	90	3	3	NUM
fsr-3458	298	91	1	1	NUM
fsr-3458	298	92	,	,	PUNCT
fsr-3458	298	93	4	4	NUM
fsr-3458	298	94	5	5	NUM
fsr-3458	298	95	3	3	NUM
fsr-3458	298	96	t	t	NOUN
fsr-3458	298	97	h	h	NOUN
fsr-3458	298	98	is	be	AUX
fsr-3458	298	99	ta	ta	PROPN
fsr-3458	298	100	b	b	PROPN
fsr-3458	298	101	le	le	PROPN
fsr-3458	298	102	d	d	X
fsr-3458	298	103	ep	ep	PROPN
fsr-3458	298	104	ic	ic	INTJ
fsr-3458	298	105	ts	ts	X
fsr-3458	298	106	th	th	X
fsr-3458	298	107	e	e	X
fsr-3458	298	108	fe	fe	X
fsr-3458	298	109	es	es	INTJ
fsr-3458	298	110	fo	fo	INTJ
fsr-3458	298	111	r	r	X
fsr-3458	298	112	th	th	X
fsr-3458	298	113	re	re	X
fsr-3458	298	114	e	e	PROPN
fsr-3458	298	115	d	d	PROPN
fsr-3458	298	116	if	if	SCONJ
fsr-3458	298	117	fe	fe	X
fsr-3458	298	118	re	re	X
fsr-3458	298	119	n	n	PROPN
fsr-3458	298	120	t	t	PROPN
fsr-3458	298	121	cl	cl	NOUN
fsr-3458	299	1	ie	ie	X
fsr-3458	299	2	n	n	PROPN
fsr-3458	299	3	t	t	NOUN
fsr-3458	299	4	p	p	X
fsr-3458	299	5	ro	ro	X
fsr-3458	299	6	fi	fi	X
fsr-3458	299	7	le	le	X
fsr-3458	299	8	s	s	X
fsr-3458	299	9	(	(	PUNCT
fsr-3458	299	10	c	c	PROPN
fsr-3458	299	11	li	li	PROPN
fsr-3458	299	12	en	en	PROPN
fsr-3458	299	13	t	t	PROPN
fsr-3458	299	14	a	a	DET
fsr-3458	299	15	,	,	PUNCT
fsr-3458	299	16	b	b	PROPN
fsr-3458	299	17	,	,	PUNCT
fsr-3458	299	18	an	an	DET
fsr-3458	299	19	d	d	X
fsr-3458	299	20	c	c	NOUN
fsr-3458	299	21	)	)	PUNCT
fsr-3458	299	22	ea	ea	PROPN
fsr-3458	300	1	ch	ch	NOUN
fsr-3458	300	2	w	w	PROPN
fsr-3458	300	3	it	it	PRON
fsr-3458	300	4	h	h	NOUN
fsr-3458	300	5	th	th	X
fsr-3458	300	6	re	re	X
fsr-3458	300	7	e	e	X
fsr-3458	300	8	ra	ra	NOUN
fsr-3458	300	9	ti	ti	INTJ
fsr-3458	300	10	o	o	NOUN
fsr-3458	300	11	s	s	X
fsr-3458	300	12	o	o	X
fsr-3458	300	13	f	f	PROPN
fsr-3458	300	14	n	n	INTJ
fsr-3458	300	15	et	et	NOUN
fsr-3458	300	16	w	w	NOUN
fsr-3458	300	17	o	o	X
fsr-3458	300	18	rt	rt	PROPN
fsr-3458	300	19	h	h	PROPN
fsr-3458	300	20	(	(	PUNCT
fsr-3458	300	21	n	n	X
fsr-3458	300	22	w	w	NOUN
fsr-3458	300	23	)	)	PUNCT
fsr-3458	300	24	to	to	ADP
fsr-3458	300	25	in	in	ADP
fsr-3458	300	26	v	v	NUM
fsr-3458	300	27	es	es	X
fsr-3458	300	28	ta	ta	PROPN
fsr-3458	300	29	b	b	PROPN
fsr-3458	300	30	le	le	PROPN
fsr-3458	300	31	as	as	ADP
fsr-3458	300	32	se	se	X
fsr-3458	300	33	ts	ts	X
fsr-3458	300	34	(	(	PUNCT
fsr-3458	300	35	i	i	PRON
fsr-3458	300	36	a	a	NOUN
fsr-3458	300	37	)	)	PUNCT
fsr-3458	300	38	.	.	PUNCT
fsr-3458	301	1	p	p	X
fsr-3458	301	2	an	an	DET
fsr-3458	301	3	el	el	PROPN
fsr-3458	301	4	a	a	PRON
fsr-3458	301	5	sh	sh	INTJ
fsr-3458	301	6	o	o	X
fsr-3458	301	7	w	w	PROPN
fsr-3458	301	8	s	s	X
fsr-3458	301	9	th	th	X
fsr-3458	301	10	e	e	X
fsr-3458	301	11	fe	fe	X
fsr-3458	301	12	es	es	INTJ
fsr-3458	301	13	fo	fo	INTJ
fsr-3458	301	14	r	r	NOUN
fsr-3458	301	15	th	th	X
fsr-3458	301	16	e	e	X
fsr-3458	301	17	co	co	NOUN
fsr-3458	301	18	n	n	PROPN
fsr-3458	302	1	so	so	ADV
fsr-3458	302	2	li	li	PROPN
fsr-3458	302	3	d	d	PROPN
fsr-3458	302	4	at	at	ADP
fsr-3458	302	5	ed	ed	PROPN
fsr-3458	302	6	d	d	PROPN
fsr-3458	302	7	u	u	X
fsr-3458	302	8	al	al	PROPN
fsr-3458	302	9	-f	-f	PROPN
fsr-3458	302	10	ee	ee	PROPN
fsr-3458	302	11	st	st	PROPN
fsr-3458	302	12	ru	ru	PROPN
fsr-3458	302	13	ct	ct	PROPN
fsr-3458	302	14	u	u	PROPN
fsr-3458	302	15	re	re	X
fsr-3458	302	16	(	(	PUNCT
fsr-3458	302	17	c	c	PROPN
fsr-3458	302	18	d	d	X
fsr-3458	302	19	f	f	PROPN
fsr-3458	302	20	s	s	PROPN
fsr-3458	302	21	)	)	PUNCT
fsr-3458	303	1	an	an	DET
fsr-3458	303	2	d	d	X
fsr-3458	303	3	p	p	X
fsr-3458	303	4	an	an	PROPN
fsr-3458	303	5	el	el	PROPN
fsr-3458	303	6	b	b	PROPN
fsr-3458	304	1	sh	sh	INTJ
fsr-3458	304	2	o	o	X
fsr-3458	304	3	w	w	PROPN
fsr-3458	304	4	s	s	X
fsr-3458	304	5	th	th	X
fsr-3458	304	6	e	e	X
fsr-3458	304	7	fe	fe	X
fsr-3458	304	8	es	es	INTJ
fsr-3458	304	9	fo	fo	INTJ
fsr-3458	304	10	r	r	NOUN
fsr-3458	304	11	th	th	X
fsr-3458	304	12	e	e	X
fsr-3458	304	13	si	si	X
fsr-3458	304	14	n	n	CCONJ
fsr-3458	304	15	g	g	PROPN
fsr-3458	304	16	le	le	X
fsr-3458	304	17	,	,	PUNCT
fsr-3458	304	18	an	an	DET
fsr-3458	304	19	d	d	X
fsr-3458	304	20	m	m	NOUN
fsr-3458	304	21	o	o	NOUN
fsr-3458	304	22	re	re	X
fsr-3458	304	23	w	w	PROPN
fsr-3458	304	24	i	i	PROPN
fsr-3458	304	25	d	d	PROPN
fsr-3458	304	26	el	el	PROPN
fsr-3458	304	27	y	y	PROPN
fsr-3458	304	28	u	u	PROPN
fsr-3458	304	29	se	se	PROPN
fsr-3458	304	30	d	d	PROPN
fsr-3458	304	31	as	as	SCONJ
fsr-3458	304	32	se	se	PROPN
fsr-3458	304	33	t	t	PROPN
fsr-3458	304	34	u	u	PROPN
fsr-3458	304	35	n	n	PROPN
fsr-3458	304	36	d	d	X
fsr-3458	304	37	er	er	INTJ
fsr-3458	304	38	m	m	VERB
fsr-3458	304	39	an	an	DET
fsr-3458	304	40	ag	ag	PROPN
fsr-3458	304	41	em	em	PRON
fsr-3458	304	42	en	en	PROPN
fsr-3458	304	43	t	t	PROPN
fsr-3458	304	44	(	(	PUNCT
fsr-3458	304	45	a	a	DET
fsr-3458	304	46	u	u	NOUN
fsr-3458	304	47	m	m	NOUN
fsr-3458	304	48	)	)	PUNCT
fsr-3458	304	49	b	b	PROPN
fsr-3458	304	50	as	as	ADP
fsr-3458	304	51	ed	ed	PROPN
fsr-3458	304	52	fe	fe	PROPN
fsr-3458	304	53	e.	e.	PROPN
fsr-3458	305	1	i	i	PRON
fsr-3458	305	2	m	m	VERB
fsr-3458	305	3	=	=	VERB
fsr-3458	305	4	in	in	ADP
fsr-3458	305	5	v	v	NOUN
fsr-3458	305	6	es	es	ADP
fsr-3458	305	7	tm	tm	PROPN
fsr-3458	305	8	en	en	PROPN
fsr-3458	305	9	t	t	PROPN
fsr-3458	305	10	m	m	PROPN
fsr-3458	305	11	an	an	DET
fsr-3458	305	12	ag	ag	PROPN
fsr-3458	305	13	em	em	PRON
fsr-3458	305	14	en	en	PROPN
fsr-3458	305	15	t.	t.	PROPN
fsr-3458	305	16	s.	s.	PROPN
fsr-3458	305	17	p.	p.	PROPN
fsr-3458	305	18	fraser	fraser	PROPN
fsr-3458	306	1	et	et	PROPN
fsr-3458	306	2	al	al	PROPN
fsr-3458	306	3	.	.	PUNCT
fsr-3458	306	4	/	/	SYM
fsr-3458	306	5	financial	financial	ADJ
fsr-3458	306	6	services	service	NOUN
fsr-3458	306	7	review	review	VERB
fsr-3458	306	8	29	29	NUM
fsr-3458	306	9	(	(	PUNCT
fsr-3458	306	10	2021	2021	NUM
fsr-3458	306	11	)	)	PUNCT
fsr-3458	306	12	227–245	227–245	NUM
fsr-3458	306	13	239	239	NUM
fsr-3458	306	14	period	period	NOUN
fsr-3458	306	15	for	for	ADP
fsr-3458	306	16	each	each	DET
fsr-3458	306	17	client	client	NOUN
fsr-3458	306	18	group	group	NOUN
fsr-3458	306	19	.	.	PUNCT
fsr-3458	307	1	finally	finally	ADV
fsr-3458	307	2	,	,	PUNCT
fsr-3458	307	3	we	we	PRON
fsr-3458	307	4	present	present	VERB
fsr-3458	307	5	the	the	DET
fsr-3458	307	6	terminal	terminal	ADJ
fsr-3458	307	7	portfolio	portfolio	NOUN
fsr-3458	307	8	values	value	NOUN
fsr-3458	307	9	for	for	ADP
fsr-3458	307	10	each	each	DET
fsr-3458	307	11	client	client	NOUN
fsr-3458	307	12	group	group	NOUN
fsr-3458	307	13	,	,	PUNCT
fsr-3458	307	14	net	net	NOUN
fsr-3458	307	15	of	of	ADP
fsr-3458	307	16	fees	fee	NOUN
fsr-3458	307	17	,	,	PUNCT
fsr-3458	307	18	decomposed	decompose	VERB
fsr-3458	307	19	into	into	ADP
fsr-3458	307	20	the	the	DET
fsr-3458	307	21	nw	nw	PROPN
fsr-3458	307	22	and	and	CCONJ
fsr-3458	307	23	i	i	PROPN
fsr-3458	307	24	m	m	VERB
fsr-3458	307	25	components	component	NOUN
fsr-3458	307	26	for	for	ADP
fsr-3458	307	27	the	the	DET
fsr-3458	307	28	dual	dual	ADJ
fsr-3458	307	29	-	-	PUNCT
fsr-3458	307	30	fee	fee	NOUN
fsr-3458	307	31	structure	structure	NOUN
fsr-3458	307	32	.	.	PUNCT
fsr-3458	308	1	notably	notably	ADV
fsr-3458	308	2	,	,	PUNCT
fsr-3458	308	3	for	for	ADP
fsr-3458	308	4	comparison	comparison	NOUN
fsr-3458	308	5	purposes	purpose	NOUN
fsr-3458	308	6	,	,	PUNCT
fsr-3458	308	7	it	it	PRON
fsr-3458	308	8	is	be	AUX
fsr-3458	308	9	appropriate	appropriate	ADJ
fsr-3458	308	10	to	to	PART
fsr-3458	308	11	compare	compare	VERB
fsr-3458	308	12	only	only	ADV
fsr-3458	308	13	the	the	DET
fsr-3458	308	14	“	"	PUNCT
fsr-3458	308	15	terminal	terminal	NOUN
fsr-3458	308	16	i	i	PROPN
fsr-3458	308	17	m	m	PROPN
fsr-3458	308	18	portfolio	portfolio	NOUN
fsr-3458	308	19	”	"	PUNCT
fsr-3458	308	20	under	under	ADP
fsr-3458	308	21	the	the	DET
fsr-3458	308	22	cdfs	cdfs	ADJ
fsr-3458	308	23	dual	dual	ADJ
fsr-3458	308	24	-	-	PUNCT
fsr-3458	308	25	fee	fee	NOUN
fsr-3458	308	26	structure	structure	NOUN
fsr-3458	308	27	with	with	ADP
fsr-3458	308	28	the	the	DET
fsr-3458	308	29	“	"	PUNCT
fsr-3458	308	30	terminal	terminal	ADJ
fsr-3458	308	31	portfolio	portfolio	NOUN
fsr-3458	308	32	value	value	NOUN
fsr-3458	308	33	”	"	PUNCT
fsr-3458	308	34	under	under	ADP
fsr-3458	308	35	the	the	DET
fsr-3458	308	36	aum	aum	PROPN
fsr-3458	308	37	fee	fee	NOUN
fsr-3458	308	38	-	-	PUNCT
fsr-3458	308	39	only	only	ADJ
fsr-3458	308	40	structure	structure	NOUN
fsr-3458	308	41	when	when	SCONJ
fsr-3458	308	42	nw	nw	PROPN
fsr-3458	308	43	=	=	VERB
fsr-3458	309	1	i	i	PRON
fsr-3458	309	2	m	m	VERB
fsr-3458	309	3	(	(	PUNCT
fsr-3458	309	4	columns	column	NOUN
fsr-3458	309	5	1	1	NUM
fsr-3458	309	6	,	,	PUNCT
fsr-3458	309	7	4	4	NUM
fsr-3458	309	8	,	,	PUNCT
fsr-3458	309	9	and	and	CCONJ
fsr-3458	309	10	7	7	NUM
fsr-3458	309	11	)	)	PUNCT
fsr-3458	309	12	.	.	PUNCT
fsr-3458	310	1	this	this	PRON
fsr-3458	310	2	is	be	AUX
fsr-3458	310	3	the	the	DET
fsr-3458	310	4	case	case	NOUN
fsr-3458	310	5	because	because	SCONJ
fsr-3458	310	6	we	we	PRON
fsr-3458	310	7	assume	assume	VERB
fsr-3458	310	8	a	a	DET
fsr-3458	310	9	client	client	NOUN
fsr-3458	310	10	’s	’s	PART
fsr-3458	310	11	nw	nw	PROPN
fsr-3458	310	12	is	be	AUX
fsr-3458	310	13	comprised	comprise	VERB
fsr-3458	310	14	of	of	ADP
fsr-3458	310	15	i	i	PRON
fsr-3458	310	16	m	m	VERB
fsr-3458	310	17	(	(	PUNCT
fsr-3458	310	18	modeled	model	VERB
fsr-3458	310	19	with	with	ADP
fsr-3458	310	20	stocks	stock	NOUN
fsr-3458	310	21	and	and	CCONJ
fsr-3458	310	22	bonds	bond	NOUN
fsr-3458	310	23	)	)	PUNCT
fsr-3458	310	24	and	and	CCONJ
fsr-3458	310	25	potentially	potentially	ADV
fsr-3458	310	26	other	other	ADJ
fsr-3458	310	27	assets	asset	NOUN
fsr-3458	310	28	.	.	PUNCT
fsr-3458	311	1	for	for	ADP
fsr-3458	311	2	clients	client	NOUN
fsr-3458	311	3	represented	represent	VERB
fsr-3458	311	4	in	in	ADP
fsr-3458	311	5	columns	column	NOUN
fsr-3458	311	6	2	2	NUM
fsr-3458	311	7	,	,	PUNCT
fsr-3458	311	8	3	3	NUM
fsr-3458	311	9	,	,	PUNCT
fsr-3458	311	10	5	5	NUM
fsr-3458	311	11	,	,	PUNCT
fsr-3458	311	12	6	6	NUM
fsr-3458	311	13	,	,	PUNCT
fsr-3458	311	14	8	8	NUM
fsr-3458	311	15	,	,	PUNCT
fsr-3458	311	16	and	and	CCONJ
fsr-3458	311	17	9	9	NUM
fsr-3458	311	18	,	,	PUNCT
fsr-3458	311	19	these	these	DET
fsr-3458	311	20	additional	additional	ADJ
fsr-3458	311	21	assets	asset	NOUN
fsr-3458	311	22	as	as	ADV
fsr-3458	311	23	modeled	model	VERB
fsr-3458	311	24	as	as	ADP
fsr-3458	311	25	evenly	evenly	ADV
fsr-3458	311	26	split	split	NOUN
fsr-3458	311	27	between	between	ADP
fsr-3458	311	28	real	real	ADJ
fsr-3458	311	29	estate	estate	NOUN
fsr-3458	311	30	and	and	CCONJ
fsr-3458	311	31	private	private	ADJ
fsr-3458	311	32	equity	equity	NOUN
fsr-3458	311	33	asset	asset	NOUN
fsr-3458	311	34	classes	class	NOUN
fsr-3458	311	35	.	.	PUNCT
fsr-3458	312	1	to	to	ADP
fsr-3458	312	2	the	the	DET
fsr-3458	312	3	extent	extent	NOUN
fsr-3458	312	4	a	a	DET
fsr-3458	312	5	client	client	NOUN
fsr-3458	312	6	’s	’s	PART
fsr-3458	312	7	nw	nw	PROPN
fsr-3458	312	8	calculation	calculation	NOUN
fsr-3458	312	9	includes	include	VERB
fsr-3458	312	10	non	non	ADJ
fsr-3458	312	11	-	-	ADJ
fsr-3458	312	12	appreciating	appreciate	VERB
fsr-3458	312	13	real	real	ADJ
fsr-3458	312	14	assets	asset	NOUN
fsr-3458	312	15	or	or	CCONJ
fsr-3458	312	16	property	property	NOUN
fsr-3458	312	17	(	(	PUNCT
fsr-3458	312	18	e.g.	e.g.	ADV
fsr-3458	312	19	,	,	PUNCT
fsr-3458	312	20	autos	auto	NOUN
fsr-3458	312	21	,	,	PUNCT
fsr-3458	312	22	boats	boat	NOUN
fsr-3458	312	23	)	)	PUNCT
fsr-3458	312	24	instead	instead	ADV
fsr-3458	312	25	of	of	ADP
fsr-3458	312	26	the	the	DET
fsr-3458	312	27	real	real	ADJ
fsr-3458	312	28	estate	estate	NOUN
fsr-3458	312	29	and	and	CCONJ
fsr-3458	312	30	private	private	ADJ
fsr-3458	312	31	equity	equity	NOUN
fsr-3458	312	32	as	as	SCONJ
fsr-3458	312	33	we	we	PRON
fsr-3458	312	34	depict	depict	VERB
fsr-3458	312	35	here	here	ADV
fsr-3458	312	36	,	,	PUNCT
fsr-3458	312	37	the	the	DET
fsr-3458	312	38	portion	portion	NOUN
fsr-3458	312	39	of	of	ADP
fsr-3458	312	40	the	the	DET
fsr-3458	312	41	nw	nw	PROPN
fsr-3458	312	42	portfolio	portfolio	PROPN
fsr-3458	312	43	not	not	PART
fsr-3458	312	44	including	include	VERB
fsr-3458	312	45	i	i	PRON
fsr-3458	312	46	m	m	VERB
fsr-3458	312	47	is	be	AUX
fsr-3458	312	48	likely	likely	ADV
fsr-3458	312	49	overstated	overstate	VERB
fsr-3458	312	50	.	.	PUNCT
fsr-3458	313	1	accordingly	accordingly	ADV
fsr-3458	313	2	,	,	PUNCT
fsr-3458	313	3	the	the	DET
fsr-3458	313	4	level	level	NOUN
fsr-3458	313	5	of	of	ADP
fsr-3458	313	6	the	the	DET
fsr-3458	313	7	planning	planning	NOUN
fsr-3458	313	8	fee	fee	NOUN
fsr-3458	313	9	values	value	NOUN
fsr-3458	313	10	in	in	ADP
fsr-3458	313	11	subsequent	subsequent	ADJ
fsr-3458	313	12	years	year	NOUN
fsr-3458	313	13	after	after	SCONJ
fsr-3458	313	14	the	the	DET
fsr-3458	313	15	first	first	ADJ
fsr-3458	313	16	year	year	NOUN
fsr-3458	313	17	are	be	AUX
fsr-3458	313	18	biased	bias	VERB
fsr-3458	313	19	in	in	ADP
fsr-3458	313	20	the	the	DET
fsr-3458	313	21	direction	direction	NOUN
fsr-3458	313	22	of	of	ADP
fsr-3458	313	23	assumed	assume	VERB
fsr-3458	313	24	returns	return	NOUN
fsr-3458	313	25	for	for	ADP
fsr-3458	313	26	real	real	ADJ
fsr-3458	313	27	estate	estate	NOUN
fsr-3458	313	28	and	and	CCONJ
fsr-3458	313	29	private	private	ADJ
fsr-3458	313	30	equity	equity	NOUN
fsr-3458	313	31	.	.	PUNCT
fsr-3458	314	1	this	this	DET
fsr-3458	314	2	treatment	treatment	NOUN
fsr-3458	314	3	highlights	highlight	VERB
fsr-3458	314	4	the	the	DET
fsr-3458	314	5	importance	importance	NOUN
fsr-3458	314	6	of	of	ADP
fsr-3458	314	7	determining	determine	VERB
fsr-3458	314	8	the	the	DET
fsr-3458	314	9	appropriate	appropriate	ADJ
fsr-3458	314	10	nw	nw	NOUN
fsr-3458	314	11	for	for	ADP
fsr-3458	314	12	a	a	DET
fsr-3458	314	13	client	client	NOUN
fsr-3458	314	14	and	and	CCONJ
fsr-3458	314	15	whether	whether	SCONJ
fsr-3458	314	16	(	(	PUNCT
fsr-3458	314	17	and	and	CCONJ
fsr-3458	314	18	how	how	SCONJ
fsr-3458	314	19	)	)	PUNCT
fsr-3458	314	20	those	those	DET
fsr-3458	314	21	assets	asset	NOUN
fsr-3458	314	22	should	should	AUX
fsr-3458	314	23	be	be	AUX
fsr-3458	314	24	modeled	model	VERB
fsr-3458	314	25	to	to	PART
fsr-3458	314	26	grow	grow	VERB
fsr-3458	314	27	.	.	PUNCT
fsr-3458	315	1	additionally	additionally	ADV
fsr-3458	315	2	,	,	PUNCT
fsr-3458	315	3	in	in	ADP
fsr-3458	315	4	all	all	DET
fsr-3458	315	5	other	other	ADJ
fsr-3458	315	6	client	client	NOUN
fsr-3458	315	7	scenarios	scenario	NOUN
fsr-3458	315	8	(	(	PUNCT
fsr-3458	315	9	columns	column	NOUN
fsr-3458	315	10	2	2	NUM
fsr-3458	315	11	,	,	PUNCT
fsr-3458	315	12	3	3	NUM
fsr-3458	315	13	,	,	PUNCT
fsr-3458	315	14	5	5	NUM
fsr-3458	315	15	,	,	PUNCT
fsr-3458	315	16	6	6	NUM
fsr-3458	315	17	,	,	PUNCT
fsr-3458	315	18	8	8	NUM
fsr-3458	315	19	,	,	PUNCT
fsr-3458	315	20	and	and	CCONJ
fsr-3458	315	21	9	9	NUM
fsr-3458	315	22	)	)	PUNCT
fsr-3458	315	23	,	,	PUNCT
fsr-3458	315	24	the	the	DET
fsr-3458	315	25	cdfs	cdfs	PROPN
fsr-3458	315	26	assesses	assesse	NOUN
fsr-3458	315	27	fees	fee	NOUN
fsr-3458	315	28	both	both	CCONJ
fsr-3458	315	29	on	on	ADP
fsr-3458	315	30	nw	nw	PROPN
fsr-3458	315	31	and	and	CCONJ
fsr-3458	315	32	i	i	PRON
fsr-3458	315	33	m	m	PROPN
fsr-3458	315	34	,	,	PUNCT
fsr-3458	315	35	whereas	whereas	SCONJ
fsr-3458	315	36	the	the	DET
fsr-3458	315	37	aum	aum	PROPN
fsr-3458	315	38	only	only	ADJ
fsr-3458	315	39	fee	fee	NOUN
fsr-3458	315	40	is	be	AUX
fsr-3458	315	41	assessed	assess	VERB
fsr-3458	315	42	on	on	ADP
fsr-3458	315	43	only	only	ADV
fsr-3458	315	44	the	the	DET
fsr-3458	315	45	i	i	PROPN
fsr-3458	315	46	m.	m.	NOUN
fsr-3458	315	47	put	put	VERB
fsr-3458	315	48	another	another	DET
fsr-3458	315	49	way	way	NOUN
fsr-3458	315	50	,	,	PUNCT
fsr-3458	315	51	in	in	ADP
fsr-3458	315	52	the	the	DET
fsr-3458	315	53	aum	aum	PROPN
fsr-3458	315	54	model	model	NOUN
fsr-3458	315	55	,	,	PUNCT
fsr-3458	315	56	there	there	PRON
fsr-3458	315	57	are	be	VERB
fsr-3458	315	58	no	no	DET
fsr-3458	315	59	fees	fee	NOUN
fsr-3458	315	60	assessed	assess	VERB
fsr-3458	315	61	against	against	ADP
fsr-3458	315	62	the	the	DET
fsr-3458	315	63	real	real	ADJ
fsr-3458	315	64	estate	estate	NOUN
fsr-3458	315	65	or	or	CCONJ
fsr-3458	315	66	private	private	ADJ
fsr-3458	315	67	equity	equity	NOUN
fsr-3458	315	68	holdings	holding	NOUN
fsr-3458	315	69	since	since	SCONJ
fsr-3458	315	70	they	they	PRON
fsr-3458	315	71	are	be	AUX
fsr-3458	315	72	not	not	PART
fsr-3458	315	73	part	part	NOUN
fsr-3458	315	74	of	of	ADP
fsr-3458	315	75	aum	aum	NOUN
fsr-3458	315	76	.	.	PUNCT
fsr-3458	315	77	analyzing	analyze	VERB
fsr-3458	315	78	table	table	NOUN
fsr-3458	315	79	4	4	NUM
fsr-3458	315	80	provides	provide	VERB
fsr-3458	315	81	opportunities	opportunity	NOUN
fsr-3458	315	82	for	for	SCONJ
fsr-3458	315	83	planners	planner	NOUN
fsr-3458	315	84	and	and	CCONJ
fsr-3458	315	85	clients	client	NOUN
fsr-3458	315	86	to	to	PART
fsr-3458	315	87	better	well	ADV
fsr-3458	315	88	grasp	grasp	VERB
fsr-3458	315	89	the	the	DET
fsr-3458	315	90	potential	potential	ADJ
fsr-3458	315	91	impact	impact	NOUN
fsr-3458	315	92	of	of	ADP
fsr-3458	315	93	a	a	DET
fsr-3458	315	94	separate	separate	ADJ
fsr-3458	315	95	financial	financial	ADJ
fsr-3458	315	96	planning	planning	NOUN
fsr-3458	315	97	and	and	CCONJ
fsr-3458	316	1	i	i	NOUN
fsr-3458	316	2	m	m	PROPN
fsr-3458	316	3	fee	fee	NOUN
fsr-3458	316	4	,	,	PUNCT
fsr-3458	316	5	or	or	CCONJ
fsr-3458	316	6	what	what	PRON
fsr-3458	316	7	we	we	PRON
fsr-3458	316	8	call	call	VERB
fsr-3458	316	9	u	u	NOUN
fsr-3458	316	10	in	in	ADP
fsr-3458	316	11	our	our	PRON
fsr-3458	316	12	model	model	NOUN
fsr-3458	316	13	,	,	PUNCT
fsr-3458	316	14	against	against	ADP
fsr-3458	316	15	a	a	DET
fsr-3458	316	16	single	single	ADJ
fsr-3458	316	17	aum	aum	NOUN
fsr-3458	316	18	,	,	PUNCT
fsr-3458	316	19	or	or	CCONJ
fsr-3458	316	20	v	v	NOUN
fsr-3458	316	21	,	,	PUNCT
fsr-3458	316	22	fee	fee	NOUN
fsr-3458	316	23	structure	structure	NOUN
fsr-3458	316	24	.	.	PUNCT
fsr-3458	317	1	by	by	ADP
fsr-3458	317	2	examining	examine	VERB
fsr-3458	317	3	year	year	NOUN
fsr-3458	317	4	1	1	NUM
fsr-3458	317	5	fees	fee	NOUN
fsr-3458	317	6	,	,	PUNCT
fsr-3458	317	7	one	one	PRON
fsr-3458	317	8	can	can	AUX
fsr-3458	317	9	see	see	VERB
fsr-3458	317	10	the	the	DET
fsr-3458	317	11	breakout	breakout	NOUN
fsr-3458	317	12	of	of	ADP
fsr-3458	317	13	financial	financial	ADJ
fsr-3458	317	14	planning	planning	NOUN
fsr-3458	317	15	fees	fee	NOUN
fsr-3458	317	16	and	and	CCONJ
fsr-3458	317	17	an	an	DET
fsr-3458	317	18	i	i	PROPN
fsr-3458	317	19	m	m	PROPN
fsr-3458	317	20	fee	fee	NOUN
fsr-3458	317	21	component	component	NOUN
fsr-3458	317	22	compared	compare	VERB
fsr-3458	317	23	with	with	ADP
fsr-3458	317	24	the	the	DET
fsr-3458	317	25	single	single	ADJ
fsr-3458	317	26	aum	aum	PROPN
fsr-3458	317	27	fee	fee	NOUN
fsr-3458	317	28	.	.	PUNCT
fsr-3458	318	1	recall	recall	NOUN
fsr-3458	318	2	,	,	PUNCT
fsr-3458	318	3	this	this	DET
fsr-3458	318	4	illustration	illustration	NOUN
fsr-3458	318	5	by	by	ADP
fsr-3458	318	6	design	design	NOUN
fsr-3458	318	7	will	will	AUX
fsr-3458	318	8	result	result	VERB
fsr-3458	318	9	in	in	ADP
fsr-3458	318	10	the	the	DET
fsr-3458	318	11	cdfs	cdfs	PROPN
fsr-3458	318	12	fee	fee	NOUN
fsr-3458	318	13	roughly	roughly	ADV
fsr-3458	318	14	equivalent	equivalent	ADJ
fsr-3458	318	15	with	with	ADP
fsr-3458	318	16	the	the	DET
fsr-3458	318	17	single	single	ADJ
fsr-3458	318	18	aum	aum	PROPN
fsr-3458	318	19	model	model	NOUN
fsr-3458	318	20	fee	fee	NOUN
fsr-3458	318	21	.	.	PUNCT
fsr-3458	319	1	this	this	PRON
fsr-3458	319	2	is	be	AUX
fsr-3458	319	3	an	an	DET
fsr-3458	319	4	appropriate	appropriate	ADJ
fsr-3458	319	5	comparison	comparison	NOUN
fsr-3458	319	6	where	where	SCONJ
fsr-3458	319	7	nw	nw	NOUN
fsr-3458	319	8	=	=	PUNCT
fsr-3458	320	1	i	i	PRON
fsr-3458	320	2	m	m	VERB
fsr-3458	320	3	(	(	PUNCT
fsr-3458	320	4	columns	column	NOUN
fsr-3458	320	5	1	1	NUM
fsr-3458	320	6	,	,	PUNCT
fsr-3458	320	7	4	4	NUM
fsr-3458	320	8	,	,	PUNCT
fsr-3458	320	9	and	and	CCONJ
fsr-3458	320	10	7	7	NUM
fsr-3458	320	11	)	)	PUNCT
fsr-3458	320	12	.	.	PUNCT
fsr-3458	321	1	not	not	PART
fsr-3458	321	2	surprisingly	surprisingly	ADV
fsr-3458	321	3	,	,	PUNCT
fsr-3458	321	4	the	the	DET
fsr-3458	321	5	year	year	NOUN
fsr-3458	321	6	2	2	NUM
fsr-3458	321	7	fees	fee	NOUN
fsr-3458	321	8	for	for	ADP
fsr-3458	321	9	these	these	DET
fsr-3458	321	10	cases	case	NOUN
fsr-3458	321	11	result	result	VERB
fsr-3458	321	12	in	in	ADP
fsr-3458	321	13	lower	low	ADJ
fsr-3458	321	14	total	total	ADJ
fsr-3458	321	15	fees	fee	NOUN
fsr-3458	321	16	due	due	ADP
fsr-3458	321	17	to	to	ADP
fsr-3458	321	18	the	the	DET
fsr-3458	321	19	reduction	reduction	NOUN
fsr-3458	321	20	in	in	ADP
fsr-3458	321	21	our	our	PRON
fsr-3458	321	22	illustration	illustration	NOUN
fsr-3458	321	23	of	of	ADP
fsr-3458	321	24	the	the	DET
fsr-3458	321	25	financial	financial	ADJ
fsr-3458	321	26	planning	planning	NOUN
fsr-3458	321	27	fee	fee	NOUN
fsr-3458	321	28	in	in	ADP
fsr-3458	321	29	subsequent	subsequent	ADJ
fsr-3458	321	30	years	year	NOUN
fsr-3458	321	31	.	.	PUNCT
fsr-3458	322	1	again	again	ADV
fsr-3458	322	2	,	,	PUNCT
fsr-3458	322	3	these	these	DET
fsr-3458	322	4	nw	nw	PROPN
fsr-3458	322	5	fees	fee	NOUN
fsr-3458	322	6	for	for	ADP
fsr-3458	322	7	year	year	NOUN
fsr-3458	322	8	2	2	NUM
fsr-3458	322	9	and	and	CCONJ
fsr-3458	322	10	beyond	beyond	ADV
fsr-3458	322	11	are	be	AUX
fsr-3458	322	12	assessed	assess	VERB
fsr-3458	322	13	at	at	ADP
fsr-3458	322	14	50	50	NUM
fsr-3458	322	15	%	%	NOUN
fsr-3458	322	16	of	of	ADP
fsr-3458	322	17	the	the	DET
fsr-3458	322	18	initial	initial	ADJ
fsr-3458	322	19	fee	fee	NOUN
fsr-3458	322	20	schedule	schedule	NOUN
fsr-3458	322	21	shown	show	VERB
fsr-3458	322	22	in	in	ADP
fsr-3458	322	23	table	table	NOUN
fsr-3458	322	24	2	2	NUM
fsr-3458	322	25	.	.	PUNCT
fsr-3458	322	26	to	to	ADP
fsr-3458	322	27	the	the	DET
fsr-3458	322	28	extent	extent	NOUN
fsr-3458	322	29	our	our	PRON
fsr-3458	322	30	assumptions	assumption	NOUN
fsr-3458	322	31	about	about	ADP
fsr-3458	322	32	the	the	DET
fsr-3458	322	33	non	non	ADJ
fsr-3458	322	34	-	-	ADJ
fsr-3458	322	35	linear	linear	ADJ
fsr-3458	322	36	form	form	NOUN
fsr-3458	322	37	of	of	ADP
fsr-3458	322	38	the	the	DET
fsr-3458	322	39	holistic	holistic	ADJ
fsr-3458	322	40	planning	planning	NOUN
fsr-3458	322	41	function	function	NOUN
fsr-3458	322	42	hold	hold	VERB
fsr-3458	322	43	,	,	PUNCT
fsr-3458	322	44	this	this	PRON
fsr-3458	322	45	would	would	AUX
fsr-3458	322	46	represent	represent	VERB
fsr-3458	322	47	a	a	DET
fsr-3458	322	48	cost	cost	NOUN
fsr-3458	322	49	savings	saving	NOUN
fsr-3458	322	50	to	to	ADP
fsr-3458	322	51	the	the	DET
fsr-3458	322	52	client	client	NOUN
fsr-3458	322	53	and	and	CCONJ
fsr-3458	322	54	perhaps	perhaps	ADV
fsr-3458	322	55	a	a	DET
fsr-3458	322	56	reduction	reduction	NOUN
fsr-3458	322	57	in	in	ADP
fsr-3458	322	58	revenue	revenue	NOUN
fsr-3458	322	59	for	for	ADP
fsr-3458	322	60	the	the	DET
fsr-3458	322	61	planner	planner	NOUN
fsr-3458	322	62	.	.	PUNCT
fsr-3458	323	1	the	the	DET
fsr-3458	323	2	timing	timing	NOUN
fsr-3458	323	3	and	and	CCONJ
fsr-3458	323	4	scope	scope	NOUN
fsr-3458	323	5	of	of	ADP
fsr-3458	323	6	the	the	DET
fsr-3458	323	7	reduction	reduction	NOUN
fsr-3458	323	8	in	in	ADP
fsr-3458	323	9	a	a	DET
fsr-3458	323	10	planning	planning	NOUN
fsr-3458	323	11	fee	fee	NOUN
fsr-3458	323	12	are	be	AUX
fsr-3458	323	13	clearly	clearly	ADV
fsr-3458	323	14	variable	variable	ADJ
fsr-3458	323	15	levers	lever	NOUN
fsr-3458	323	16	included	include	VERB
fsr-3458	323	17	in	in	ADP
fsr-3458	323	18	the	the	DET
fsr-3458	323	19	overarching	overarching	ADJ
fsr-3458	323	20	u	u	NOUN
fsr-3458	323	21	fee	fee	NOUN
fsr-3458	323	22	schedule	schedule	NOUN
fsr-3458	323	23	that	that	PRON
fsr-3458	323	24	are	be	AUX
fsr-3458	323	25	at	at	ADP
fsr-3458	323	26	the	the	DET
fsr-3458	323	27	disposal	disposal	NOUN
fsr-3458	323	28	of	of	ADP
fsr-3458	323	29	planners	planner	NOUN
fsr-3458	323	30	when	when	SCONJ
fsr-3458	323	31	thinking	think	VERB
fsr-3458	323	32	about	about	ADP
fsr-3458	323	33	implementing	implement	VERB
fsr-3458	323	34	a	a	DET
fsr-3458	323	35	cdfs	cdfs	PROPN
fsr-3458	323	36	.	.	PUNCT
fsr-3458	324	1	the	the	DET
fsr-3458	324	2	insight	insight	NOUN
fsr-3458	324	3	from	from	ADP
fsr-3458	324	4	the	the	DET
fsr-3458	324	5	visibility	visibility	NOUN
fsr-3458	324	6	of	of	ADP
fsr-3458	324	7	the	the	DET
fsr-3458	324	8	two	two	NUM
fsr-3458	324	9	fee	fee	NOUN
fsr-3458	324	10	components	component	NOUN
fsr-3458	324	11	could	could	AUX
fsr-3458	324	12	be	be	AUX
fsr-3458	324	13	a	a	DET
fsr-3458	324	14	catalyst	catalyst	NOUN
fsr-3458	324	15	for	for	ADP
fsr-3458	324	16	a	a	DET
fsr-3458	324	17	valuable	valuable	ADJ
fsr-3458	324	18	conversation	conversation	NOUN
fsr-3458	324	19	between	between	ADP
fsr-3458	324	20	planner	planner	NOUN
fsr-3458	324	21	and	and	CCONJ
fsr-3458	324	22	client	client	NOUN
fsr-3458	324	23	.	.	PUNCT
fsr-3458	325	1	this	this	DET
fsr-3458	325	2	distinction	distinction	NOUN
fsr-3458	325	3	in	in	ADP
fsr-3458	325	4	fees	fee	NOUN
fsr-3458	325	5	perhaps	perhaps	ADV
fsr-3458	325	6	highlights	highlight	NOUN
fsr-3458	325	7	,	,	PUNCT
fsr-3458	325	8	and	and	CCONJ
fsr-3458	325	9	potentially	potentially	ADV
fsr-3458	325	10	quantifies	quantifie	NOUN
fsr-3458	325	11	,	,	PUNCT
fsr-3458	325	12	what	what	PRON
fsr-3458	325	13	some	some	DET
fsr-3458	325	14	clients	client	NOUN
fsr-3458	325	15	might	might	AUX
fsr-3458	325	16	perceive	perceive	VERB
fsr-3458	325	17	as	as	ADP
fsr-3458	325	18	the	the	DET
fsr-3458	325	19	overpayment	overpayment	NOUN
fsr-3458	325	20	of	of	ADP
fsr-3458	325	21	advisors	advisor	NOUN
fsr-3458	325	22	in	in	ADP
fsr-3458	325	23	a	a	DET
fsr-3458	325	24	single	single	ADJ
fsr-3458	325	25	aum	aum	PROPN
fsr-3458	325	26	model	model	NOUN
fsr-3458	325	27	.	.	PUNCT
fsr-3458	326	1	alternatively	alternatively	ADV
fsr-3458	326	2	,	,	PUNCT
fsr-3458	326	3	it	it	PRON
fsr-3458	326	4	could	could	AUX
fsr-3458	326	5	provide	provide	VERB
fsr-3458	326	6	an	an	DET
fsr-3458	326	7	opportunity	opportunity	NOUN
fsr-3458	326	8	for	for	SCONJ
fsr-3458	326	9	advisors	advisor	NOUN
fsr-3458	326	10	to	to	PART
fsr-3458	326	11	demonstrate	demonstrate	VERB
fsr-3458	326	12	their	their	PRON
fsr-3458	326	13	value	value	NOUN
fsr-3458	326	14	above	above	ADV
fsr-3458	326	15	and	and	CCONJ
fsr-3458	326	16	beyond	beyond	ADP
fsr-3458	326	17	an	an	DET
fsr-3458	326	18	i	i	PROPN
fsr-3458	326	19	m	m	PROPN
fsr-3458	326	20	function	function	NOUN
fsr-3458	326	21	.	.	PUNCT
fsr-3458	327	1	there	there	PRON
fsr-3458	327	2	are	be	VERB
fsr-3458	327	3	some	some	DET
fsr-3458	327	4	additional	additional	ADJ
fsr-3458	327	5	observations	observation	NOUN
fsr-3458	327	6	that	that	PRON
fsr-3458	327	7	emerge	emerge	VERB
fsr-3458	327	8	upon	upon	SCONJ
fsr-3458	327	9	further	further	ADJ
fsr-3458	327	10	examination	examination	NOUN
fsr-3458	327	11	of	of	ADP
fsr-3458	327	12	table	table	NOUN
fsr-3458	327	13	4	4	NUM
fsr-3458	327	14	.	.	PUNCT
fsr-3458	327	15	while	while	SCONJ
fsr-3458	327	16	the	the	DET
fsr-3458	327	17	cdfs	cdfs	NOUN
fsr-3458	327	18	we	we	PRON
fsr-3458	327	19	illustrate	illustrate	VERB
fsr-3458	327	20	necessarily	necessarily	ADV
fsr-3458	327	21	results	result	VERB
fsr-3458	327	22	in	in	ADP
fsr-3458	327	23	a	a	DET
fsr-3458	327	24	lower	low	ADJ
fsr-3458	327	25	year	year	NOUN
fsr-3458	327	26	2	2	NUM
fsr-3458	327	27	fee	fee	NOUN
fsr-3458	327	28	for	for	ADP
fsr-3458	327	29	the	the	DET
fsr-3458	327	30	cdfs	cdfs	PROPN
fsr-3458	327	31	,	,	PUNCT
fsr-3458	327	32	this	this	PRON
fsr-3458	327	33	is	be	AUX
fsr-3458	327	34	true	true	ADJ
fsr-3458	327	35	only	only	ADV
fsr-3458	327	36	when	when	SCONJ
fsr-3458	327	37	nw	nw	PROPN
fsr-3458	327	38	is	be	AUX
fsr-3458	327	39	equal	equal	ADJ
fsr-3458	327	40	to	to	ADP
fsr-3458	327	41	i	i	PRON
fsr-3458	327	42	m.	m.	NOUN
fsr-3458	327	43	as	as	SCONJ
fsr-3458	327	44	expected	expect	VERB
fsr-3458	327	45	,	,	PUNCT
fsr-3458	327	46	line	line	NOUN
fsr-3458	327	47	1	1	NUM
fsr-3458	327	48	is	be	AUX
fsr-3458	327	49	approximately	approximately	ADV
fsr-3458	327	50	equal	equal	ADJ
fsr-3458	327	51	to	to	ADP
fsr-3458	327	52	line	line	NOUN
fsr-3458	327	53	12	12	NUM
fsr-3458	327	54	in	in	ADP
fsr-3458	327	55	this	this	DET
fsr-3458	327	56	case	case	NOUN
fsr-3458	327	57	,	,	PUNCT
fsr-3458	327	58	while	while	SCONJ
fsr-3458	327	59	line	line	NOUN
fsr-3458	327	60	4	4	NUM
fsr-3458	327	61	is	be	AUX
fsr-3458	327	62	substantially	substantially	ADV
fsr-3458	327	63	less	less	ADJ
fsr-3458	327	64	than	than	ADP
fsr-3458	327	65	line	line	NOUN
fsr-3458	327	66	13	13	NUM
fsr-3458	327	67	for	for	ADP
fsr-3458	327	68	columns	column	NOUN
fsr-3458	327	69	1	1	NUM
fsr-3458	327	70	,	,	PUNCT
fsr-3458	327	71	4	4	NUM
fsr-3458	327	72	,	,	PUNCT
fsr-3458	327	73	and	and	CCONJ
fsr-3458	327	74	7	7	X
fsr-3458	327	75	.	.	X
fsr-3458	328	1	in	in	ADP
fsr-3458	328	2	contrast	contrast	NOUN
fsr-3458	328	3	,	,	PUNCT
fsr-3458	328	4	the	the	DET
fsr-3458	328	5	relationship	relationship	NOUN
fsr-3458	328	6	changes	change	VERB
fsr-3458	328	7	when	when	SCONJ
fsr-3458	328	8	the	the	DET
fsr-3458	328	9	ratio	ratio	NOUN
fsr-3458	328	10	of	of	ADP
fsr-3458	328	11	nw	nw	PROPN
fsr-3458	328	12	to	to	ADP
fsr-3458	328	13	i	i	PRON
fsr-3458	328	14	m	m	VERB
fsr-3458	328	15	is	be	AUX
fsr-3458	328	16	greater	great	ADJ
fsr-3458	328	17	than	than	ADP
fsr-3458	328	18	one	one	NUM
fsr-3458	328	19	.	.	PUNCT
fsr-3458	329	1	when	when	SCONJ
fsr-3458	329	2	nw	nw	PROPN
fsr-3458	329	3	is	be	AUX
fsr-3458	329	4	greater	great	ADJ
fsr-3458	329	5	than	than	ADP
fsr-3458	329	6	im	im	ADP
fsr-3458	329	7	—	—	PUNCT
fsr-3458	329	8	that	that	ADV
fsr-3458	329	9	is	is	ADV
fsr-3458	329	10	,	,	PUNCT
fsr-3458	329	11	the	the	DET
fsr-3458	329	12	portfolio	portfolio	NOUN
fsr-3458	329	13	consists	consist	VERB
fsr-3458	329	14	of	of	ADP
fsr-3458	329	15	more	more	ADJ
fsr-3458	329	16	than	than	ADP
fsr-3458	329	17	just	just	ADV
fsr-3458	329	18	stocks	stock	NOUN
fsr-3458	329	19	and	and	CCONJ
fsr-3458	329	20	bonds	bond	NOUN
fsr-3458	329	21	(	(	PUNCT
fsr-3458	329	22	aum	aum	X
fsr-3458	329	23	including	include	VERB
fsr-3458	329	24	mutual	mutual	ADJ
fsr-3458	329	25	funds	fund	NOUN
fsr-3458	329	26	and	and	CCONJ
fsr-3458	329	27	etfs)—fees	etfs)—fee	NOUN
fsr-3458	329	28	at	at	ADP
fsr-3458	329	29	the	the	DET
fsr-3458	329	30	end	end	NOUN
fsr-3458	329	31	of	of	ADP
fsr-3458	329	32	year	year	NOUN
fsr-3458	329	33	1	1	NUM
fsr-3458	329	34	will	will	AUX
fsr-3458	329	35	no	no	ADV
fsr-3458	329	36	longer	long	ADV
fsr-3458	329	37	be	be	AUX
fsr-3458	329	38	240	240	NUM
fsr-3458	329	39	s.	s.	PROPN
fsr-3458	329	40	p.	p.	PROPN
fsr-3458	329	41	fraser	fraser	PROPN
fsr-3458	330	1	et	et	PROPN
fsr-3458	330	2	al	al	PROPN
fsr-3458	330	3	.	.	PUNCT
fsr-3458	330	4	/	/	SYM
fsr-3458	330	5	financial	financial	ADJ
fsr-3458	330	6	services	service	NOUN
fsr-3458	330	7	review	review	VERB
fsr-3458	330	8	29	29	NUM
fsr-3458	330	9	(	(	PUNCT
fsr-3458	330	10	2021	2021	NUM
fsr-3458	330	11	)	)	PUNCT
fsr-3458	330	12	227–245	227–245	NUM
fsr-3458	330	13	approximately	approximately	ADV
fsr-3458	330	14	the	the	DET
fsr-3458	330	15	same	same	ADJ
fsr-3458	330	16	due	due	ADP
fsr-3458	330	17	to	to	ADP
fsr-3458	330	18	the	the	DET
fsr-3458	330	19	fact	fact	NOUN
fsr-3458	330	20	the	the	DET
fsr-3458	330	21	planning	planning	NOUN
fsr-3458	330	22	fee	fee	NOUN
fsr-3458	330	23	(	(	PUNCT
fsr-3458	330	24	u	u	NOUN
fsr-3458	330	25	)	)	PUNCT
fsr-3458	330	26	is	be	AUX
fsr-3458	330	27	based	base	VERB
fsr-3458	330	28	on	on	ADP
fsr-3458	330	29	the	the	DET
fsr-3458	330	30	client	client	NOUN
fsr-3458	330	31	’s	’s	PART
fsr-3458	330	32	nw	nw	PROPN
fsr-3458	330	33	,	,	PUNCT
fsr-3458	330	34	which	which	PRON
fsr-3458	330	35	includes	include	VERB
fsr-3458	330	36	assets	asset	NOUN
fsr-3458	330	37	not	not	PART
fsr-3458	330	38	included	include	VERB
fsr-3458	330	39	in	in	ADP
fsr-3458	330	40	the	the	DET
fsr-3458	330	41	i	i	PROPN
fsr-3458	330	42	m	m	PROPN
fsr-3458	330	43	portfolio	portfolio	NOUN
fsr-3458	330	44	(	(	PUNCT
fsr-3458	330	45	where	where	SCONJ
fsr-3458	330	46	i	i	PRON
fsr-3458	330	47	m	m	VERB
fsr-3458	330	48	and	and	CCONJ
fsr-3458	330	49	single	single	ADJ
fsr-3458	330	50	aum	aum	PROPN
fsr-3458	330	51	fees	fee	NOUN
fsr-3458	330	52	are	be	AUX
fsr-3458	330	53	charged	charge	VERB
fsr-3458	330	54	)	)	PUNCT
fsr-3458	330	55	.	.	PUNCT
fsr-3458	331	1	consider	consider	VERB
fsr-3458	331	2	the	the	DET
fsr-3458	331	3	nature	nature	NOUN
fsr-3458	331	4	of	of	ADP
fsr-3458	331	5	the	the	DET
fsr-3458	331	6	fees	fee	NOUN
fsr-3458	331	7	across	across	ADP
fsr-3458	331	8	the	the	DET
fsr-3458	331	9	nw	nw	PROPN
fsr-3458	331	10	to	to	ADP
fsr-3458	331	11	i	i	PRON
fsr-3458	331	12	m	m	VERB
fsr-3458	331	13	spectrum	spectrum	VERB
fsr-3458	331	14	for	for	ADP
fsr-3458	331	15	each	each	DET
fsr-3458	331	16	client	client	NOUN
fsr-3458	331	17	a.	a.	NOUN
fsr-3458	331	18	now	now	ADV
fsr-3458	331	19	the	the	DET
fsr-3458	331	20	total	total	ADJ
fsr-3458	331	21	fee	fee	NOUN
fsr-3458	331	22	(	(	PUNCT
fsr-3458	331	23	revenue	revenue	NOUN
fsr-3458	331	24	)	)	PUNCT
fsr-3458	331	25	in	in	ADP
fsr-3458	331	26	year	year	NOUN
fsr-3458	331	27	1	1	NUM
fsr-3458	331	28	is	be	AUX
fsr-3458	331	29	greater	great	ADJ
fsr-3458	331	30	under	under	ADP
fsr-3458	331	31	the	the	DET
fsr-3458	331	32	cdfs	cdfs	PROPN
fsr-3458	331	33	than	than	ADP
fsr-3458	331	34	in	in	ADP
fsr-3458	331	35	the	the	DET
fsr-3458	331	36	single	single	ADJ
fsr-3458	331	37	aum	aum	PROPN
fsr-3458	331	38	model	model	NOUN
fsr-3458	331	39	.	.	PUNCT
fsr-3458	332	1	line	line	NOUN
fsr-3458	332	2	1	1	NUM
fsr-3458	332	3	is	be	AUX
fsr-3458	332	4	greater	great	ADJ
fsr-3458	332	5	than	than	ADP
fsr-3458	332	6	line	line	NOUN
fsr-3458	332	7	12	12	NUM
fsr-3458	332	8	in	in	ADP
fsr-3458	332	9	column	column	NOUN
fsr-3458	332	10	3	3	NUM
fsr-3458	332	11	.	.	PUNCT
fsr-3458	333	1	these	these	DET
fsr-3458	333	2	observations	observation	NOUN
fsr-3458	333	3	hold	hold	VERB
fsr-3458	333	4	across	across	ADP
fsr-3458	333	5	each	each	PRON
fsr-3458	333	6	of	of	ADP
fsr-3458	333	7	the	the	DET
fsr-3458	333	8	other	other	ADJ
fsr-3458	333	9	client	client	NOUN
fsr-3458	333	10	types	type	NOUN
fsr-3458	333	11	.	.	PUNCT
fsr-3458	334	1	the	the	DET
fsr-3458	334	2	behavior	behavior	NOUN
fsr-3458	334	3	of	of	ADP
fsr-3458	334	4	lifetime	lifetime	NOUN
fsr-3458	334	5	fees	fee	NOUN
fsr-3458	334	6	when	when	SCONJ
fsr-3458	334	7	comparing	compare	VERB
fsr-3458	334	8	various	various	ADJ
fsr-3458	334	9	clients	client	NOUN
fsr-3458	334	10	are	be	AUX
fsr-3458	334	11	another	another	DET
fsr-3458	334	12	result	result	NOUN
fsr-3458	334	13	worth	worth	ADJ
fsr-3458	334	14	analyzing	analyze	VERB
fsr-3458	334	15	.	.	PUNCT
fsr-3458	335	1	some	some	DET
fsr-3458	335	2	planners	planner	NOUN
fsr-3458	335	3	might	might	AUX
fsr-3458	335	4	consider	consider	VERB
fsr-3458	335	5	the	the	DET
fsr-3458	335	6	50	50	NUM
fsr-3458	335	7	%	%	NOUN
fsr-3458	335	8	discount	discount	NOUN
fsr-3458	335	9	to	to	ADP
fsr-3458	335	10	year	year	NOUN
fsr-3458	335	11	2	2	NUM
fsr-3458	335	12	and	and	CCONJ
fsr-3458	335	13	beyond	beyond	ADP
fsr-3458	335	14	nw	nw	NOUN
fsr-3458	335	15	fees	fee	NOUN
fsr-3458	335	16	as	as	ADP
fsr-3458	335	17	an	an	DET
fsr-3458	335	18	excessive	excessive	ADJ
fsr-3458	335	19	“	"	PUNCT
fsr-3458	335	20	penalty	penalty	NOUN
fsr-3458	335	21	”	"	PUNCT
fsr-3458	335	22	for	for	ADP
fsr-3458	335	23	still	still	ADV
fsr-3458	335	24	having	have	VERB
fsr-3458	335	25	to	to	PART
fsr-3458	335	26	conduct	conduct	VERB
fsr-3458	335	27	the	the	DET
fsr-3458	335	28	implementation	implementation	NOUN
fsr-3458	335	29	,	,	PUNCT
fsr-3458	335	30	monitoring	monitoring	NOUN
fsr-3458	335	31	,	,	PUNCT
fsr-3458	335	32	and	and	CCONJ
fsr-3458	335	33	recommendation	recommendation	NOUN
fsr-3458	335	34	functions	function	NOUN
fsr-3458	335	35	.	.	PUNCT
fsr-3458	336	1	again	again	ADV
fsr-3458	336	2	,	,	PUNCT
fsr-3458	336	3	looking	look	VERB
fsr-3458	336	4	at	at	ADP
fsr-3458	336	5	client	client	NOUN
fsr-3458	336	6	a	a	PRON
fsr-3458	336	7	—	—	PUNCT
fsr-3458	336	8	as	as	SCONJ
fsr-3458	336	9	the	the	DET
fsr-3458	336	10	observations	observation	NOUN
fsr-3458	336	11	hold	hold	VERB
fsr-3458	336	12	for	for	ADP
fsr-3458	336	13	the	the	DET
fsr-3458	336	14	others	other	NOUN
fsr-3458	336	15	as	as	ADV
fsr-3458	336	16	well	well	ADV
fsr-3458	336	17	—	—	PUNCT
fsr-3458	336	18	we	we	PRON
fsr-3458	336	19	can	can	AUX
fsr-3458	336	20	compare	compare	VERB
fsr-3458	336	21	the	the	DET
fsr-3458	336	22	lifetime	lifetime	NOUN
fsr-3458	336	23	fees	fee	NOUN
fsr-3458	336	24	between	between	ADP
fsr-3458	336	25	the	the	DET
fsr-3458	336	26	cdfs	cdfs	PROPN
fsr-3458	336	27	(	(	PUNCT
fsr-3458	336	28	line	line	NOUN
fsr-3458	336	29	7	7	NUM
fsr-3458	336	30	)	)	PUNCT
fsr-3458	336	31	and	and	CCONJ
fsr-3458	336	32	aum	aum	PROPN
fsr-3458	336	33	(	(	PUNCT
fsr-3458	336	34	line	line	NOUN
fsr-3458	336	35	14	14	NUM
fsr-3458	336	36	)	)	PUNCT
fsr-3458	336	37	.	.	PUNCT
fsr-3458	337	1	although	although	SCONJ
fsr-3458	337	2	the	the	DET
fsr-3458	337	3	cdfs	cdfs	PROPN
fsr-3458	337	4	fee	fee	NOUN
fsr-3458	337	5	is	be	AUX
fsr-3458	337	6	initially	initially	ADV
fsr-3458	337	7	larger	large	ADJ
fsr-3458	337	8	than	than	ADP
fsr-3458	337	9	the	the	DET
fsr-3458	337	10	aum	aum	PROPN
fsr-3458	337	11	fee	fee	NOUN
fsr-3458	337	12	for	for	ADP
fsr-3458	337	13	year	year	NOUN
fsr-3458	337	14	1	1	NUM
fsr-3458	337	15	and	and	CCONJ
fsr-3458	337	16	then	then	ADV
fsr-3458	337	17	smaller	small	ADJ
fsr-3458	337	18	for	for	ADP
fsr-3458	337	19	year	year	NOUN
fsr-3458	337	20	2	2	NUM
fsr-3458	337	21	as	as	SCONJ
fsr-3458	337	22	described	describe	VERB
fsr-3458	337	23	above	above	ADV
fsr-3458	337	24	,	,	PUNCT
fsr-3458	337	25	over	over	ADP
fsr-3458	337	26	the	the	DET
fsr-3458	337	27	40	40	NUM
fsr-3458	337	28	-	-	PUNCT
fsr-3458	337	29	year	year	NOUN
fsr-3458	337	30	investing	investing	NOUN
fsr-3458	337	31	lifetime	lifetime	NOUN
fsr-3458	337	32	of	of	ADP
fsr-3458	337	33	these	these	DET
fsr-3458	337	34	particular	particular	ADJ
fsr-3458	337	35	clients	client	NOUN
fsr-3458	337	36	,	,	PUNCT
fsr-3458	337	37	the	the	DET
fsr-3458	337	38	overall	overall	ADJ
fsr-3458	337	39	cdfs	cdfs	PROPN
fsr-3458	337	40	fees	fee	NOUN
fsr-3458	337	41	outpace	outpace	VERB
fsr-3458	337	42	the	the	DET
fsr-3458	337	43	aum	aum	PROPN
fsr-3458	337	44	fees	fee	NOUN
fsr-3458	337	45	.	.	PUNCT
fsr-3458	338	1	specifically	specifically	ADV
fsr-3458	338	2	,	,	PUNCT
fsr-3458	338	3	under	under	ADP
fsr-3458	338	4	the	the	DET
fsr-3458	338	5	cdfs	cdfs	PROPN
fsr-3458	338	6	approach	approach	NOUN
fsr-3458	338	7	,	,	PUNCT
fsr-3458	338	8	the	the	DET
fsr-3458	338	9	nw	nw	PROPN
fsr-3458	338	10	fees	fee	NOUN
fsr-3458	338	11	(	(	PUNCT
fsr-3458	338	12	line	line	NOUN
fsr-3458	338	13	8)	8)	NUM
fsr-3458	338	14	increase	increase	NOUN
fsr-3458	338	15	while	while	SCONJ
fsr-3458	338	16	i	i	PRON
fsr-3458	338	17	m	m	VERB
fsr-3458	338	18	fees	fee	NOUN
fsr-3458	338	19	(	(	PUNCT
fsr-3458	338	20	line	line	NOUN
fsr-3458	338	21	9	9	NUM
fsr-3458	338	22	)	)	PUNCT
fsr-3458	338	23	decrease	decrease	NOUN
fsr-3458	338	24	as	as	ADP
fsr-3458	338	25	the	the	DET
fsr-3458	338	26	initial	initial	ADJ
fsr-3458	338	27	net	net	ADJ
fsr-3458	338	28	worth	worth	NOUN
fsr-3458	338	29	is	be	AUX
fsr-3458	338	30	composed	compose	VERB
fsr-3458	338	31	more	more	ADJ
fsr-3458	338	32	of	of	ADP
fsr-3458	338	33	non	non	ADJ
fsr-3458	338	34	-	-	ADJ
fsr-3458	338	35	investable	investable	ADJ
fsr-3458	338	36	assets	asset	NOUN
fsr-3458	338	37	and	and	CCONJ
fsr-3458	338	38	less	less	ADJ
fsr-3458	338	39	of	of	ADP
fsr-3458	338	40	stocks	stock	NOUN
fsr-3458	338	41	/	/	SYM
fsr-3458	338	42	bonds	bond	NOUN
fsr-3458	338	43	.	.	PUNCT
fsr-3458	339	1	additionally	additionally	ADV
fsr-3458	339	2	,	,	PUNCT
fsr-3458	339	3	under	under	ADP
fsr-3458	339	4	our	our	PRON
fsr-3458	339	5	construct	construct	NOUN
fsr-3458	339	6	the	the	DET
fsr-3458	339	7	annual	annual	ADJ
fsr-3458	339	8	fees	fee	NOUN
fsr-3458	339	9	are	be	AUX
fsr-3458	339	10	taken	take	VERB
fsr-3458	339	11	from	from	ADP
fsr-3458	339	12	i	i	PRON
fsr-3458	339	13	m	m	VERB
fsr-3458	339	14	(	(	PUNCT
fsr-3458	339	15	i.e.	i.e.	X
fsr-3458	339	16	,	,	PUNCT
fsr-3458	339	17	stocks	stock	NOUN
fsr-3458	339	18	/	/	SYM
fsr-3458	339	19	bonds	bond	NOUN
fsr-3458	339	20	)	)	PUNCT
fsr-3458	339	21	under	under	ADP
fsr-3458	339	22	the	the	DET
fsr-3458	339	23	cdfs	cdfs	PROPN
fsr-3458	339	24	model	model	NOUN
fsr-3458	339	25	,	,	PUNCT
fsr-3458	339	26	which	which	PRON
fsr-3458	339	27	obviously	obviously	ADV
fsr-3458	339	28	reduces	reduce	VERB
fsr-3458	339	29	their	their	PRON
fsr-3458	339	30	compounded	compound	VERB
fsr-3458	339	31	value	value	NOUN
fsr-3458	339	32	over	over	ADP
fsr-3458	339	33	time	time	NOUN
fsr-3458	339	34	,	,	PUNCT
fsr-3458	339	35	generating	generate	VERB
fsr-3458	339	36	even	even	ADV
fsr-3458	339	37	lower	low	ADJ
fsr-3458	339	38	i	i	PRON
fsr-3458	339	39	m	m	VERB
fsr-3458	339	40	fees	fee	NOUN
fsr-3458	339	41	than	than	SCONJ
fsr-3458	339	42	they	they	PRON
fsr-3458	339	43	would	would	AUX
fsr-3458	339	44	if	if	SCONJ
fsr-3458	339	45	other	other	ADJ
fsr-3458	339	46	asset	asset	NOUN
fsr-3458	339	47	classes	class	NOUN
fsr-3458	339	48	were	be	AUX
fsr-3458	339	49	sold	sell	VERB
fsr-3458	339	50	to	to	PART
fsr-3458	339	51	support	support	VERB
fsr-3458	339	52	the	the	DET
fsr-3458	339	53	fees	fee	NOUN
fsr-3458	339	54	.	.	PUNCT
fsr-3458	340	1	thus	thus	ADV
fsr-3458	340	2	,	,	PUNCT
fsr-3458	340	3	we	we	PRON
fsr-3458	340	4	find	find	VERB
fsr-3458	340	5	that	that	SCONJ
fsr-3458	340	6	the	the	DET
fsr-3458	340	7	value	value	NOUN
fsr-3458	340	8	of	of	ADP
fsr-3458	340	9	financial	financial	ADJ
fsr-3458	340	10	advice	advice	NOUN
fsr-3458	340	11	,	,	PUNCT
fsr-3458	340	12	as	as	SCONJ
fsr-3458	340	13	represented	represent	VERB
fsr-3458	340	14	by	by	ADP
fsr-3458	340	15	the	the	DET
fsr-3458	340	16	nw	nw	PROPN
fsr-3458	340	17	fee	fee	NOUN
fsr-3458	340	18	in	in	ADP
fsr-3458	340	19	line	line	NOUN
fsr-3458	340	20	8	8	NUM
fsr-3458	340	21	,	,	PUNCT
fsr-3458	340	22	increases	increase	VERB
fsr-3458	340	23	as	as	SCONJ
fsr-3458	340	24	the	the	DET
fsr-3458	340	25	proportion	proportion	NOUN
fsr-3458	340	26	of	of	ADP
fsr-3458	340	27	i	i	PRON
fsr-3458	340	28	m	m	VERB
fsr-3458	340	29	decreases	decrease	NOUN
fsr-3458	340	30	in	in	ADP
fsr-3458	340	31	an	an	DET
fsr-3458	340	32	otherwise	otherwise	ADV
fsr-3458	340	33	common	common	ADJ
fsr-3458	340	34	-	-	PUNCT
fsr-3458	340	35	sized	sized	ADJ
fsr-3458	340	36	portfolio	portfolio	NOUN
fsr-3458	340	37	.	.	PUNCT
fsr-3458	341	1	this	this	DET
fsr-3458	341	2	result	result	NOUN
fsr-3458	341	3	is	be	AUX
fsr-3458	341	4	appropriate	appropriate	ADJ
fsr-3458	341	5	if	if	SCONJ
fsr-3458	341	6	one	one	PRON
fsr-3458	341	7	believes	believe	VERB
fsr-3458	341	8	that	that	SCONJ
fsr-3458	341	9	the	the	DET
fsr-3458	341	10	financial	financial	ADJ
fsr-3458	341	11	planning	planning	NOUN
fsr-3458	341	12	demands	demand	NOUN
fsr-3458	341	13	are	be	AUX
fsr-3458	341	14	higher	high	ADJ
fsr-3458	341	15	for	for	ADP
fsr-3458	341	16	portfolios	portfolio	NOUN
fsr-3458	341	17	consisting	consist	VERB
fsr-3458	341	18	of	of	ADP
fsr-3458	341	19	assets	asset	NOUN
fsr-3458	341	20	beyond	beyond	ADP
fsr-3458	341	21	stocks	stock	NOUN
fsr-3458	341	22	and	and	CCONJ
fsr-3458	341	23	bonds	bond	NOUN
fsr-3458	341	24	.	.	PUNCT
fsr-3458	342	1	it	it	PRON
fsr-3458	342	2	is	be	AUX
fsr-3458	342	3	also	also	ADV
fsr-3458	342	4	insightful	insightful	ADJ
fsr-3458	342	5	that	that	SCONJ
fsr-3458	342	6	for	for	ADP
fsr-3458	342	7	these	these	DET
fsr-3458	342	8	various	various	ADJ
fsr-3458	342	9	clients	client	NOUN
fsr-3458	342	10	,	,	PUNCT
fsr-3458	342	11	implementing	implement	VERB
fsr-3458	342	12	a	a	DET
fsr-3458	342	13	cdfs	cdfs	ADJ
fsr-3458	342	14	approach	approach	NOUN
fsr-3458	342	15	in	in	ADP
fsr-3458	342	16	the	the	DET
fsr-3458	342	17	long	long	ADV
fsr-3458	342	18	-	-	PUNCT
fsr-3458	342	19	run	run	NOUN
fsr-3458	342	20	generates	generate	VERB
fsr-3458	342	21	comparable	comparable	ADJ
fsr-3458	342	22	or	or	CCONJ
fsr-3458	342	23	even	even	ADV
fsr-3458	342	24	increased	increase	VERB
fsr-3458	342	25	lifetime	lifetime	NOUN
fsr-3458	342	26	(	(	PUNCT
fsr-3458	342	27	nominal	nominal	ADJ
fsr-3458	342	28	)	)	PUNCT
fsr-3458	342	29	fees	fee	NOUN
fsr-3458	342	30	relative	relative	ADJ
fsr-3458	342	31	to	to	ADP
fsr-3458	342	32	an	an	DET
fsr-3458	342	33	aum	aum	PROPN
fsr-3458	342	34	only	only	ADJ
fsr-3458	342	35	approach	approach	NOUN
fsr-3458	342	36	,	,	PUNCT
fsr-3458	342	37	despite	despite	SCONJ
fsr-3458	342	38	the	the	DET
fsr-3458	342	39	fact	fact	NOUN
fsr-3458	342	40	that	that	SCONJ
fsr-3458	342	41	the	the	DET
fsr-3458	342	42	i	i	PRON
fsr-3458	342	43	m	m	VERB
fsr-3458	342	44	are	be	AUX
fsr-3458	342	45	markedly	markedly	ADV
fsr-3458	342	46	different	different	ADJ
fsr-3458	342	47	for	for	ADP
fsr-3458	342	48	the	the	DET
fsr-3458	342	49	latter	latter	ADJ
fsr-3458	342	50	two	two	NUM
fsr-3458	342	51	clients	client	NOUN
fsr-3458	342	52	in	in	ADP
fsr-3458	342	53	each	each	PRON
fsr-3458	342	54	of	of	ADP
fsr-3458	342	55	our	our	PRON
fsr-3458	342	56	client	client	NOUN
fsr-3458	342	57	profile	profile	NOUN
fsr-3458	342	58	categories	category	NOUN
fsr-3458	342	59	a	a	DET
fsr-3458	342	60	,	,	PUNCT
fsr-3458	342	61	b	b	NOUN
fsr-3458	342	62	,	,	PUNCT
fsr-3458	342	63	and	and	CCONJ
fsr-3458	342	64	c.	c.	NOUN
fsr-3458	342	65	in	in	ADP
fsr-3458	342	66	other	other	ADJ
fsr-3458	342	67	words	word	NOUN
fsr-3458	342	68	,	,	PUNCT
fsr-3458	342	69	accounting	account	VERB
fsr-3458	342	70	for	for	ADP
fsr-3458	342	71	all	all	DET
fsr-3458	342	72	components	component	NOUN
fsr-3458	342	73	of	of	ADP
fsr-3458	342	74	nw	nw	PROPN
fsr-3458	342	75	and	and	CCONJ
fsr-3458	342	76	conducting	conduct	VERB
fsr-3458	342	77	holistic	holistic	ADJ
fsr-3458	342	78	financial	financial	ADJ
fsr-3458	342	79	planning	planning	NOUN
fsr-3458	342	80	based	base	VERB
fsr-3458	342	81	on	on	ADP
fsr-3458	342	82	these	these	DET
fsr-3458	342	83	components	component	NOUN
fsr-3458	342	84	can	can	AUX
fsr-3458	342	85	jointly	jointly	ADV
fsr-3458	342	86	generate	generate	VERB
fsr-3458	342	87	comparable	comparable	ADJ
fsr-3458	342	88	lifetime	lifetime	NOUN
fsr-3458	342	89	fees	fee	NOUN
fsr-3458	342	90	even	even	ADV
fsr-3458	342	91	when	when	SCONJ
fsr-3458	342	92	charging	charge	VERB
fsr-3458	342	93	market	market	NOUN
fsr-3458	342	94	competitive	competitive	ADJ
fsr-3458	342	95	im	im	ADJ
fsr-3458	342	96	-	-	PUNCT
fsr-3458	342	97	only	only	ADJ
fsr-3458	342	98	fees	fee	NOUN
fsr-3458	342	99	and	and	CCONJ
fsr-3458	342	100	implementing	implement	VERB
fsr-3458	342	101	a	a	DET
fsr-3458	342	102	planning	planning	NOUN
fsr-3458	342	103	fee	fee	NOUN
fsr-3458	342	104	schedule	schedule	NOUN
fsr-3458	342	105	that	that	PRON
fsr-3458	342	106	recognizes	recognize	VERB
fsr-3458	342	107	the	the	DET
fsr-3458	342	108	reduced	reduced	ADJ
fsr-3458	342	109	level	level	NOUN
fsr-3458	342	110	of	of	ADP
fsr-3458	342	111	effort	effort	NOUN
fsr-3458	342	112	after	after	ADP
fsr-3458	342	113	creating	create	VERB
fsr-3458	342	114	the	the	DET
fsr-3458	342	115	initial	initial	ADJ
fsr-3458	342	116	plan	plan	NOUN
fsr-3458	342	117	.	.	PUNCT
fsr-3458	343	1	thus	thus	ADV
fsr-3458	343	2	,	,	PUNCT
fsr-3458	343	3	despite	despite	SCONJ
fsr-3458	343	4	the	the	DET
fsr-3458	343	5	almost	almost	ADV
fsr-3458	343	6	-	-	PUNCT
fsr-3458	343	7	countless	countless	ADJ
fsr-3458	343	8	possibilities	possibility	NOUN
fsr-3458	343	9	for	for	ADP
fsr-3458	343	10	establishing	establish	VERB
fsr-3458	343	11	an	an	DET
fsr-3458	343	12	appropriate	appropriate	ADJ
fsr-3458	343	13	u	u	NOUN
fsr-3458	343	14	fee	fee	NOUN
fsr-3458	343	15	schedule	schedule	NOUN
fsr-3458	343	16	,	,	PUNCT
fsr-3458	343	17	we	we	PRON
fsr-3458	343	18	demonstrate	demonstrate	VERB
fsr-3458	343	19	a	a	DET
fsr-3458	343	20	simple	simple	ADJ
fsr-3458	343	21	example	example	NOUN
fsr-3458	343	22	that	that	PRON
fsr-3458	343	23	could	could	AUX
fsr-3458	343	24	hold	hold	VERB
fsr-3458	343	25	in	in	ADP
fsr-3458	343	26	a	a	DET
fsr-3458	343	27	competitive	competitive	ADJ
fsr-3458	343	28	market	market	NOUN
fsr-3458	343	29	environment	environment	NOUN
fsr-3458	343	30	.	.	PUNCT
fsr-3458	344	1	to	to	PART
fsr-3458	344	2	make	make	VERB
fsr-3458	344	3	a	a	DET
fsr-3458	344	4	caveat	caveat	NOUN
fsr-3458	344	5	or	or	CCONJ
fsr-3458	344	6	limitation	limitation	NOUN
fsr-3458	344	7	abundantly	abundantly	ADV
fsr-3458	344	8	clear	clear	ADJ
fsr-3458	344	9	,	,	PUNCT
fsr-3458	344	10	the	the	DET
fsr-3458	344	11	lifetime	lifetime	NOUN
fsr-3458	344	12	fee	fee	NOUN
fsr-3458	344	13	levels	level	NOUN
fsr-3458	344	14	presented	present	VERB
fsr-3458	344	15	in	in	ADP
fsr-3458	344	16	table	table	NOUN
fsr-3458	344	17	4	4	NUM
fsr-3458	344	18	are	be	AUX
fsr-3458	344	19	reliant	reliant	ADJ
fsr-3458	344	20	upon	upon	SCONJ
fsr-3458	344	21	the	the	DET
fsr-3458	344	22	various	various	ADJ
fsr-3458	344	23	asset	asset	NOUN
fsr-3458	344	24	classes	class	NOUN
fsr-3458	344	25	’	'	PUNCT
fsr-3458	344	26	performance	performance	NOUN
fsr-3458	344	27	,	,	PUNCT
fsr-3458	344	28	which	which	PRON
fsr-3458	344	29	we	we	PRON
fsr-3458	344	30	simulate	simulate	VERB
fsr-3458	344	31	10,000	10,000	NUM
fsr-3458	344	32	times	time	NOUN
fsr-3458	344	33	using	use	VERB
fsr-3458	344	34	the	the	DET
fsr-3458	344	35	jpm	jpm	PROPN
fsr-3458	344	36	market	market	NOUN
fsr-3458	344	37	assumptions	assumption	NOUN
fsr-3458	344	38	(	(	PUNCT
fsr-3458	344	39	see	see	VERB
fsr-3458	344	40	table	table	NOUN
fsr-3458	344	41	2	2	NUM
fsr-3458	344	42	)	)	PUNCT
fsr-3458	344	43	.	.	PUNCT
fsr-3458	345	1	under	under	ADP
fsr-3458	345	2	these	these	DET
fsr-3458	345	3	assumptions	assumption	NOUN
fsr-3458	345	4	,	,	PUNCT
fsr-3458	345	5	the	the	DET
fsr-3458	345	6	additional	additional	ADJ
fsr-3458	345	7	value	value	NOUN
fsr-3458	345	8	of	of	ADP
fsr-3458	345	9	a	a	DET
fsr-3458	345	10	portfolio	portfolio	NOUN
fsr-3458	345	11	that	that	PRON
fsr-3458	345	12	includes	include	VERB
fsr-3458	345	13	real	real	ADJ
fsr-3458	345	14	estate	estate	NOUN
fsr-3458	345	15	and	and	CCONJ
fsr-3458	345	16	private	private	ADJ
fsr-3458	345	17	equity	equity	NOUN
fsr-3458	345	18	becomes	become	VERB
fsr-3458	345	19	apparent	apparent	ADJ
fsr-3458	345	20	.	.	PUNCT
fsr-3458	346	1	the	the	DET
fsr-3458	346	2	difference	difference	NOUN
fsr-3458	346	3	in	in	ADP
fsr-3458	346	4	ending	end	VERB
fsr-3458	346	5	portfolio	portfolio	NOUN
fsr-3458	346	6	values	value	NOUN
fsr-3458	346	7	(	(	PUNCT
fsr-3458	346	8	line	line	NOUN
fsr-3458	346	9	10	10	NUM
fsr-3458	346	10	)	)	PUNCT
fsr-3458	346	11	is	be	AUX
fsr-3458	346	12	stark	stark	ADJ
fsr-3458	346	13	for	for	ADP
fsr-3458	346	14	client	client	NOUN
fsr-3458	346	15	a1	a1	NOUN
fsr-3458	346	16	(	(	PUNCT
fsr-3458	346	17	stock	stock	NOUN
fsr-3458	346	18	/	/	SYM
fsr-3458	346	19	bond	bond	NOUN
fsr-3458	346	20	only	only	ADV
fsr-3458	346	21	)	)	PUNCT
fsr-3458	346	22	and	and	CCONJ
fsr-3458	346	23	client	client	NOUN
fsr-3458	346	24	a3	a3	NOUN
fsr-3458	346	25	(	(	PUNCT
fsr-3458	346	26	stock	stock	NOUN
fsr-3458	346	27	/	/	SYM
fsr-3458	346	28	bond	bond	NOUN
fsr-3458	346	29	/	/	SYM
fsr-3458	346	30	real	real	ADJ
fsr-3458	346	31	estate	estate	NOUN
fsr-3458	346	32	/	/	SYM
fsr-3458	346	33	private	private	ADJ
fsr-3458	346	34	equity	equity	NOUN
fsr-3458	346	35	)	)	PUNCT
fsr-3458	346	36	.	.	PUNCT
fsr-3458	347	1	the	the	DET
fsr-3458	347	2	former	former	ADJ
fsr-3458	347	3	generates	generate	VERB
fsr-3458	347	4	an	an	DET
fsr-3458	347	5	ending	end	VERB
fsr-3458	347	6	portfolio	portfolio	NOUN
fsr-3458	347	7	worth	worth	ADJ
fsr-3458	347	8	$	$	SYM
fsr-3458	347	9	3.3	3.3	NUM
fsr-3458	347	10	million	million	NUM
fsr-3458	347	11	net	net	NOUN
fsr-3458	347	12	of	of	ADP
fsr-3458	347	13	fees	fee	NOUN
fsr-3458	347	14	versus	versus	ADP
fsr-3458	347	15	$	$	SYM
fsr-3458	347	16	7.1	7.1	NUM
fsr-3458	347	17	million	million	NUM
fsr-3458	347	18	for	for	ADP
fsr-3458	347	19	the	the	DET
fsr-3458	347	20	latter	latter	ADJ
fsr-3458	347	21	.	.	PUNCT
fsr-3458	348	1	while	while	SCONJ
fsr-3458	348	2	we	we	PRON
fsr-3458	348	3	did	do	AUX
fsr-3458	348	4	not	not	PART
fsr-3458	348	5	plan	plan	VERB
fsr-3458	348	6	for	for	ADP
fsr-3458	348	7	or	or	CCONJ
fsr-3458	348	8	anticipate	anticipate	VERB
fsr-3458	348	9	this	this	DET
fsr-3458	348	10	result	result	NOUN
fsr-3458	348	11	in	in	ADP
fsr-3458	348	12	designing	design	VERB
fsr-3458	348	13	this	this	DET
fsr-3458	348	14	analysis	analysis	NOUN
fsr-3458	348	15	,	,	PUNCT
fsr-3458	348	16	it	it	PRON
fsr-3458	348	17	is	be	AUX
fsr-3458	348	18	worthwhile	worthwhile	ADJ
fsr-3458	348	19	noting	note	VERB
fsr-3458	348	20	the	the	DET
fsr-3458	348	21	value	value	NOUN
fsr-3458	348	22	of	of	ADP
fsr-3458	348	23	diversification	diversification	NOUN
fsr-3458	348	24	is	be	AUX
fsr-3458	348	25	substantial	substantial	ADJ
fsr-3458	348	26	under	under	ADP
fsr-3458	348	27	the	the	DET
fsr-3458	348	28	return	return	NOUN
fsr-3458	348	29	forecasts	forecast	NOUN
fsr-3458	348	30	from	from	ADP
fsr-3458	348	31	jpm	jpm	PROPN
fsr-3458	348	32	.	.	PUNCT
fsr-3458	349	1	additionally	additionally	ADV
fsr-3458	349	2	,	,	PUNCT
fsr-3458	349	3	our	our	PRON
fsr-3458	349	4	simple	simple	ADJ
fsr-3458	349	5	rebalancing	rebalancing	NOUN
fsr-3458	349	6	assumptions	assumption	NOUN
fsr-3458	349	7	for	for	ADP
fsr-3458	349	8	stocks	stock	NOUN
fsr-3458	349	9	and	and	CCONJ
fsr-3458	349	10	bonds	bond	NOUN
fsr-3458	349	11	coupled	couple	VERB
fsr-3458	349	12	with	with	ADP
fsr-3458	349	13	the	the	DET
fsr-3458	349	14	no	no	DET
fsr-3458	349	15	rebalancing	rebalancing	NOUN
fsr-3458	349	16	approach	approach	NOUN
fsr-3458	349	17	to	to	ADP
fsr-3458	349	18	real	real	ADJ
fsr-3458	349	19	estate	estate	NOUN
fsr-3458	349	20	and	and	CCONJ
fsr-3458	349	21	private	private	ADJ
fsr-3458	349	22	equity	equity	NOUN
fsr-3458	349	23	obviate	obviate	VERB
fsr-3458	349	24	some	some	PRON
fsr-3458	349	25	of	of	ADP
fsr-3458	349	26	the	the	DET
fsr-3458	349	27	benefits	benefit	NOUN
fsr-3458	349	28	of	of	ADP
fsr-3458	349	29	planning	planning	NOUN
fsr-3458	349	30	that	that	PRON
fsr-3458	349	31	could	could	AUX
fsr-3458	349	32	occur	occur	VERB
fsr-3458	349	33	with	with	ADP
fsr-3458	349	34	more	more	ADJ
fsr-3458	349	35	s.	s.	PROPN
fsr-3458	349	36	p.	p.	PROPN
fsr-3458	349	37	fraser	fraser	PROPN
fsr-3458	349	38	et	et	PROPN
fsr-3458	350	1	al	al	PROPN
fsr-3458	350	2	.	.	PUNCT
fsr-3458	350	3	/	/	SYM
fsr-3458	350	4	financial	financial	ADJ
fsr-3458	350	5	services	service	NOUN
fsr-3458	350	6	review	review	VERB
fsr-3458	350	7	29	29	NUM
fsr-3458	350	8	(	(	PUNCT
fsr-3458	350	9	2021	2021	NUM
fsr-3458	350	10	)	)	PUNCT
fsr-3458	350	11	227–245	227–245	NUM
fsr-3458	350	12	241	241	NUM
fsr-3458	350	13	sophisticated	sophisticated	ADJ
fsr-3458	350	14	approaches	approach	NOUN
fsr-3458	350	15	(	(	PUNCT
fsr-3458	350	16	e.g.	e.g.	ADV
fsr-3458	350	17	,	,	PUNCT
fsr-3458	350	18	see	see	VERB
fsr-3458	350	19	blanchett	blanchett	PROPN
fsr-3458	350	20	and	and	CCONJ
fsr-3458	350	21	kaplan	kaplan	PROPN
fsr-3458	350	22	,	,	PUNCT
fsr-3458	350	23	2013	2013	NUM
fsr-3458	350	24	)	)	PUNCT
fsr-3458	350	25	,	,	PUNCT
fsr-3458	350	26	for	for	ADP
fsr-3458	350	27	examples	example	NOUN
fsr-3458	350	28	of	of	ADP
fsr-3458	350	29	these	these	DET
fsr-3458	350	30	benefits	benefit	NOUN
fsr-3458	350	31	,	,	PUNCT
fsr-3458	350	32	or	or	CCONJ
fsr-3458	350	33	gamma	gamma	NOUN
fsr-3458	350	34	)	)	PUNCT
fsr-3458	350	35	.	.	PUNCT
fsr-3458	351	1	clearly	clearly	ADV
fsr-3458	351	2	planners	planner	NOUN
fsr-3458	351	3	and	and	CCONJ
fsr-3458	351	4	firms	firm	NOUN
fsr-3458	351	5	could	could	AUX
fsr-3458	351	6	,	,	PUNCT
fsr-3458	351	7	and	and	CCONJ
fsr-3458	351	8	should	should	AUX
fsr-3458	351	9	,	,	PUNCT
fsr-3458	351	10	examine	examine	VERB
fsr-3458	351	11	adjusting	adjust	VERB
fsr-3458	351	12	all	all	DET
fsr-3458	351	13	the	the	DET
fsr-3458	351	14	“	"	PUNCT
fsr-3458	351	15	levers	lever	NOUN
fsr-3458	351	16	”	"	PUNCT
fsr-3458	351	17	introduced	introduce	VERB
fsr-3458	351	18	here	here	ADV
fsr-3458	351	19	that	that	PRON
fsr-3458	351	20	are	be	AUX
fsr-3458	351	21	suitable	suitable	ADJ
fsr-3458	351	22	for	for	ADP
fsr-3458	351	23	their	their	PRON
fsr-3458	351	24	practice	practice	NOUN
fsr-3458	351	25	:	:	PUNCT
fsr-3458	351	26	different	different	ADJ
fsr-3458	351	27	fee	fee	NOUN
fsr-3458	351	28	levels	level	NOUN
fsr-3458	351	29	,	,	PUNCT
fsr-3458	351	30	breakpoints	breakpoint	NOUN
fsr-3458	351	31	,	,	PUNCT
fsr-3458	351	32	and	and	CCONJ
fsr-3458	351	33	subsequent	subsequent	ADJ
fsr-3458	351	34	reduction	reduction	NOUN
fsr-3458	351	35	of	of	ADP
fsr-3458	351	36	planning	planning	NOUN
fsr-3458	351	37	or	or	CCONJ
fsr-3458	351	38	nw	nw	NOUN
fsr-3458	351	39	fee	fee	NOUN
fsr-3458	351	40	component	component	NOUN
fsr-3458	351	41	after	after	ADP
fsr-3458	351	42	year	year	NOUN
fsr-3458	351	43	1	1	NUM
fsr-3458	351	44	.	.	PUNCT
fsr-3458	352	1	however	however	ADV
fsr-3458	352	2	,	,	PUNCT
fsr-3458	352	3	assuming	assume	VERB
fsr-3458	352	4	similar	similar	ADJ
fsr-3458	352	5	regressive	regressive	ADJ
fsr-3458	352	6	fee	fee	NOUN
fsr-3458	352	7	structures	structure	NOUN
fsr-3458	352	8	and	and	CCONJ
fsr-3458	352	9	market	market	NOUN
fsr-3458	352	10	competition	competition	NOUN
fsr-3458	352	11	deterring	deter	VERB
fsr-3458	352	12	any	any	DET
fsr-3458	352	13	significant	significant	ADJ
fsr-3458	352	14	deviations	deviation	NOUN
fsr-3458	352	15	from	from	ADP
fsr-3458	352	16	relatively	relatively	ADV
fsr-3458	352	17	comparable	comparable	ADJ
fsr-3458	352	18	advising	advising	NOUN
fsr-3458	352	19	and	and	CCONJ
fsr-3458	352	20	i	i	PRON
fsr-3458	352	21	m	m	PROPN
fsr-3458	352	22	pricing	pricing	NOUN
fsr-3458	352	23	,	,	PUNCT
fsr-3458	352	24	the	the	DET
fsr-3458	352	25	general	general	ADJ
fsr-3458	352	26	results	result	VERB
fsr-3458	352	27	from	from	ADP
fsr-3458	352	28	our	our	PRON
fsr-3458	352	29	analysis	analysis	NOUN
fsr-3458	352	30	should	should	AUX
fsr-3458	352	31	hold	hold	VERB
fsr-3458	352	32	for	for	ADP
fsr-3458	352	33	more	more	ADJ
fsr-3458	352	34	complex	complex	ADJ
fsr-3458	352	35	fee	fee	NOUN
fsr-3458	352	36	structures	structure	NOUN
fsr-3458	352	37	.	.	PUNCT
fsr-3458	353	1	5	5	X
fsr-3458	353	2	.	.	X
fsr-3458	353	3	implications	implication	NOUN
fsr-3458	353	4	for	for	ADP
fsr-3458	353	5	planners	planner	NOUN
fsr-3458	353	6	the	the	DET
fsr-3458	353	7	analysis	analysis	NOUN
fsr-3458	353	8	of	of	ADP
fsr-3458	353	9	the	the	DET
fsr-3458	353	10	proposed	propose	VERB
fsr-3458	353	11	cdfs	cdfs	NOUN
fsr-3458	353	12	in	in	ADP
fsr-3458	353	13	lieu	lieu	NOUN
fsr-3458	353	14	of	of	ADP
fsr-3458	353	15	a	a	DET
fsr-3458	353	16	single	single	ADJ
fsr-3458	353	17	aum	aum	PROPN
fsr-3458	353	18	fee	fee	NOUN
fsr-3458	353	19	structure	structure	NOUN
fsr-3458	353	20	can	can	AUX
fsr-3458	353	21	prove	prove	VERB
fsr-3458	353	22	valuable	valuable	ADJ
fsr-3458	353	23	for	for	ADP
fsr-3458	353	24	financial	financial	ADJ
fsr-3458	353	25	advisors	advisor	NOUN
fsr-3458	353	26	and	and	CCONJ
fsr-3458	353	27	clients	client	NOUN
fsr-3458	353	28	alike	alike	ADV
fsr-3458	353	29	.	.	PUNCT
fsr-3458	354	1	advisors	advisor	NOUN
fsr-3458	354	2	only	only	ADV
fsr-3458	354	3	performing	perform	VERB
fsr-3458	354	4	i	i	PROPN
fsr-3458	354	5	m	m	NOUN
fsr-3458	354	6	functions	function	NOUN
fsr-3458	354	7	under	under	ADP
fsr-3458	354	8	the	the	DET
fsr-3458	354	9	single	single	ADJ
fsr-3458	354	10	aum	aum	PROPN
fsr-3458	354	11	model	model	NOUN
fsr-3458	354	12	are	be	AUX
fsr-3458	354	13	getting	get	VERB
fsr-3458	354	14	pressure	pressure	NOUN
fsr-3458	354	15	to	to	PART
fsr-3458	354	16	compress	compress	VERB
fsr-3458	354	17	their	their	PRON
fsr-3458	354	18	fees	fee	NOUN
fsr-3458	354	19	today	today	NOUN
fsr-3458	354	20	with	with	ADP
fsr-3458	354	21	the	the	DET
fsr-3458	354	22	advent	advent	NOUN
fsr-3458	354	23	of	of	ADP
fsr-3458	354	24	robo	robo	NOUN
fsr-3458	354	25	-	-	PUNCT
fsr-3458	354	26	advisors	advisor	NOUN
fsr-3458	354	27	.	.	PUNCT
fsr-3458	355	1	this	this	DET
fsr-3458	355	2	trend	trend	NOUN
fsr-3458	355	3	has	have	AUX
fsr-3458	355	4	led	lead	VERB
fsr-3458	355	5	traditional	traditional	ADJ
fsr-3458	355	6	asset	asset	NOUN
fsr-3458	355	7	managers	manager	NOUN
fsr-3458	355	8	to	to	PART
fsr-3458	355	9	expand	expand	VERB
fsr-3458	355	10	their	their	PRON
fsr-3458	355	11	services	service	NOUN
fsr-3458	355	12	to	to	PART
fsr-3458	355	13	include	include	VERB
fsr-3458	355	14	more	more	ADV
fsr-3458	355	15	holistic	holistic	ADJ
fsr-3458	355	16	and	and	CCONJ
fsr-3458	355	17	customized	customize	VERB
fsr-3458	355	18	financial	financial	ADJ
fsr-3458	355	19	planning	planning	NOUN
fsr-3458	355	20	services	service	NOUN
fsr-3458	355	21	,	,	PUNCT
fsr-3458	355	22	often	often	ADV
fsr-3458	355	23	to	to	PART
fsr-3458	355	24	justify	justify	VERB
fsr-3458	355	25	their	their	PRON
fsr-3458	355	26	fees	fee	NOUN
fsr-3458	355	27	.	.	PUNCT
fsr-3458	356	1	the	the	DET
fsr-3458	356	2	cdfs	cdfs	PROPN
fsr-3458	356	3	provides	provide	VERB
fsr-3458	356	4	an	an	DET
fsr-3458	356	5	avenue	avenue	NOUN
fsr-3458	356	6	for	for	ADP
fsr-3458	356	7	advisors	advisor	NOUN
fsr-3458	356	8	to	to	PART
fsr-3458	356	9	price	price	VERB
fsr-3458	356	10	the	the	DET
fsr-3458	356	11	financial	financial	ADJ
fsr-3458	356	12	planning	planning	NOUN
fsr-3458	356	13	effort	effort	NOUN
fsr-3458	356	14	separately	separately	ADV
fsr-3458	356	15	from	from	ADP
fsr-3458	356	16	the	the	DET
fsr-3458	356	17	investment	investment	NOUN
fsr-3458	356	18	management	management	NOUN
fsr-3458	356	19	function	function	NOUN
fsr-3458	356	20	,	,	PUNCT
fsr-3458	356	21	effectively	effectively	ADV
fsr-3458	356	22	solving	solve	VERB
fsr-3458	356	23	the	the	DET
fsr-3458	356	24	problem	problem	NOUN
fsr-3458	356	25	of	of	ADP
fsr-3458	356	26	how	how	SCONJ
fsr-3458	356	27	to	to	PART
fsr-3458	356	28	structure	structure	VERB
fsr-3458	356	29	u	u	NOUN
fsr-3458	356	30	fairly	fairly	ADV
fsr-3458	356	31	.	.	PUNCT
fsr-3458	357	1	such	such	DET
fsr-3458	357	2	an	an	DET
fsr-3458	357	3	approach	approach	NOUN
fsr-3458	357	4	provides	provide	VERB
fsr-3458	357	5	greater	great	ADJ
fsr-3458	357	6	transparency	transparency	NOUN
fsr-3458	357	7	and	and	CCONJ
fsr-3458	357	8	could	could	AUX
fsr-3458	357	9	allow	allow	VERB
fsr-3458	357	10	clients	client	NOUN
fsr-3458	357	11	to	to	PART
fsr-3458	357	12	hold	hold	VERB
fsr-3458	357	13	advisors	advisor	NOUN
fsr-3458	357	14	more	more	ADV
fsr-3458	357	15	accountable	accountable	ADJ
fsr-3458	357	16	for	for	ADP
fsr-3458	357	17	planning	plan	VERB
fsr-3458	357	18	support	support	NOUN
fsr-3458	357	19	likely	likely	ADV
fsr-3458	357	20	obfuscated	obfuscate	VERB
fsr-3458	357	21	by	by	ADP
fsr-3458	357	22	the	the	DET
fsr-3458	357	23	single	single	ADJ
fsr-3458	357	24	,	,	PUNCT
fsr-3458	357	25	fee	fee	NOUN
fsr-3458	357	26	-	-	PUNCT
fsr-3458	357	27	only	only	ADV
fsr-3458	357	28	aum	aum	NOUN
fsr-3458	357	29	models	model	NOUN
fsr-3458	357	30	found	find	VERB
fsr-3458	357	31	at	at	ADP
fsr-3458	357	32	most	most	ADJ
fsr-3458	357	33	ria	ria	NOUN
fsr-3458	357	34	firms	firm	NOUN
fsr-3458	357	35	(	(	PUNCT
fsr-3458	357	36	mazzoli	mazzoli	NOUN
fsr-3458	357	37	and	and	CCONJ
fsr-3458	357	38	nicolini	nicolini	PROPN
fsr-3458	357	39	2010	2010	NUM
fsr-3458	357	40	)	)	PUNCT
fsr-3458	357	41	.	.	PUNCT
fsr-3458	358	1	should	should	AUX
fsr-3458	358	2	advisors	advisor	NOUN
fsr-3458	358	3	maintain	maintain	VERB
fsr-3458	358	4	some	some	DET
fsr-3458	358	5	reduction	reduction	NOUN
fsr-3458	358	6	of	of	ADP
fsr-3458	358	7	the	the	DET
fsr-3458	358	8	planning	planning	NOUN
fsr-3458	358	9	fee	fee	NOUN
fsr-3458	358	10	component	component	NOUN
fsr-3458	358	11	of	of	ADP
fsr-3458	358	12	the	the	DET
fsr-3458	358	13	cdfs	cdfs	PROPN
fsr-3458	358	14	,	,	PUNCT
fsr-3458	358	15	planners	planner	NOUN
fsr-3458	358	16	could	could	AUX
fsr-3458	358	17	show	show	VERB
fsr-3458	358	18	that	that	SCONJ
fsr-3458	358	19	there	there	PRON
fsr-3458	358	20	is	be	VERB
fsr-3458	358	21	indeed	indeed	ADV
fsr-3458	358	22	a	a	DET
fsr-3458	358	23	non	non	ADJ
fsr-3458	358	24	-	-	ADJ
fsr-3458	358	25	linear	linear	ADJ
fsr-3458	358	26	effort	effort	NOUN
fsr-3458	358	27	associated	associate	VERB
fsr-3458	358	28	with	with	ADP
fsr-3458	358	29	the	the	DET
fsr-3458	358	30	initial	initial	ADJ
fsr-3458	358	31	onboarding	onboarding	NOUN
fsr-3458	358	32	and	and	CCONJ
fsr-3458	358	33	financial	financial	ADJ
fsr-3458	358	34	planning	planning	NOUN
fsr-3458	358	35	function	function	NOUN
fsr-3458	358	36	.	.	PUNCT
fsr-3458	359	1	moreover	moreover	ADV
fsr-3458	359	2	,	,	PUNCT
fsr-3458	359	3	such	such	DET
fsr-3458	359	4	a	a	DET
fsr-3458	359	5	dual	dual	ADJ
fsr-3458	359	6	fee	fee	NOUN
fsr-3458	359	7	structure	structure	NOUN
fsr-3458	359	8	might	might	AUX
fsr-3458	359	9	provide	provide	VERB
fsr-3458	359	10	two	two	NUM
fsr-3458	359	11	additional	additional	ADJ
fsr-3458	359	12	benefits	benefit	NOUN
fsr-3458	359	13	to	to	ADP
fsr-3458	359	14	planners	planner	NOUN
fsr-3458	359	15	and	and	CCONJ
fsr-3458	359	16	clients	client	NOUN
fsr-3458	359	17	.	.	PUNCT
fsr-3458	360	1	first	first	ADV
fsr-3458	360	2	,	,	PUNCT
fsr-3458	360	3	it	it	PRON
fsr-3458	360	4	allows	allow	VERB
fsr-3458	360	5	for	for	SCONJ
fsr-3458	360	6	the	the	DET
fsr-3458	360	7	planning	planning	NOUN
fsr-3458	360	8	services	service	NOUN
fsr-3458	360	9	to	to	PART
fsr-3458	360	10	be	be	AUX
fsr-3458	360	11	priced	price	VERB
fsr-3458	360	12	,	,	PUNCT
fsr-3458	360	13	and	and	CCONJ
fsr-3458	360	14	more	more	ADV
fsr-3458	360	15	importantly	importantly	ADV
fsr-3458	360	16	,	,	PUNCT
fsr-3458	360	17	charged	charge	VERB
fsr-3458	360	18	separately	separately	ADV
fsr-3458	360	19	from	from	ADP
fsr-3458	360	20	any	any	DET
fsr-3458	360	21	i	i	PROPN
fsr-3458	360	22	m	m	PROPN
fsr-3458	360	23	fee	fee	NOUN
fsr-3458	360	24	allowing	allow	VERB
fsr-3458	360	25	for	for	ADP
fsr-3458	360	26	a	a	DET
fsr-3458	360	27	framework	framework	NOUN
fsr-3458	360	28	to	to	PART
fsr-3458	360	29	charge	charge	VERB
fsr-3458	360	30	for	for	ADP
fsr-3458	360	31	services	service	NOUN
fsr-3458	360	32	—	—	PUNCT
fsr-3458	360	33	even	even	ADV
fsr-3458	360	34	when	when	SCONJ
fsr-3458	360	35	assets	asset	NOUN
fsr-3458	360	36	are	be	AUX
fsr-3458	360	37	not	not	PART
fsr-3458	360	38	moved	move	VERB
fsr-3458	360	39	to	to	ADP
fsr-3458	360	40	the	the	DET
fsr-3458	360	41	advisor	advisor	NOUN
fsr-3458	360	42	for	for	ADP
fsr-3458	360	43	management	management	NOUN
fsr-3458	360	44	,	,	PUNCT
fsr-3458	360	45	or	or	CCONJ
fsr-3458	360	46	what	what	DET
fsr-3458	360	47	kitces	kitce	NOUN
fsr-3458	360	48	(	(	PUNCT
fsr-3458	360	49	2013	2013	NUM
fsr-3458	360	50	)	)	PUNCT
fsr-3458	360	51	suggests	suggest	VERB
fsr-3458	360	52	could	could	AUX
fsr-3458	360	53	be	be	AUX
fsr-3458	360	54	growing	grow	VERB
fsr-3458	360	55	the	the	DET
fsr-3458	360	56	“	"	PUNCT
fsr-3458	360	57	slice	slice	NOUN
fsr-3458	360	58	of	of	ADP
fsr-3458	360	59	the	the	DET
fsr-3458	360	60	pic	pic	NOUN
fsr-3458	360	61	”	"	PUNCT
fsr-3458	360	62	.	.	PUNCT
fsr-3458	361	1	secondly	secondly	ADV
fsr-3458	361	2	,	,	PUNCT
fsr-3458	361	3	the	the	DET
fsr-3458	361	4	cdfs	cdfs	PROPN
fsr-3458	361	5	allows	allow	VERB
fsr-3458	361	6	for	for	ADP
fsr-3458	361	7	some	some	DET
fsr-3458	361	8	level	level	NOUN
fsr-3458	361	9	of	of	ADP
fsr-3458	361	10	financial	financial	ADJ
fsr-3458	361	11	planning	planning	NOUN
fsr-3458	361	12	complexity	complexity	NOUN
fsr-3458	361	13	by	by	ADP
fsr-3458	361	14	more	more	ADV
fsr-3458	361	15	adequately	adequately	ADV
fsr-3458	361	16	compensating	compensate	VERB
fsr-3458	361	17	advisors	advisor	NOUN
fsr-3458	361	18	when	when	SCONJ
fsr-3458	361	19	financial	financial	ADJ
fsr-3458	361	20	planning	planning	NOUN
fsr-3458	361	21	efforts	effort	NOUN
fsr-3458	361	22	are	be	AUX
fsr-3458	361	23	based	base	VERB
fsr-3458	361	24	on	on	ADP
fsr-3458	361	25	nw	nw	PROPN
fsr-3458	361	26	and	and	CCONJ
fsr-3458	361	27	not	not	PART
fsr-3458	361	28	solely	solely	ADV
fsr-3458	361	29	aum	aum	PROPN
fsr-3458	361	30	.	.	PUNCT
fsr-3458	362	1	a	a	DET
fsr-3458	362	2	further	further	ADJ
fsr-3458	362	3	benefit	benefit	NOUN
fsr-3458	362	4	of	of	ADP
fsr-3458	362	5	this	this	DET
fsr-3458	362	6	framework	framework	NOUN
fsr-3458	362	7	is	be	AUX
fsr-3458	362	8	that	that	SCONJ
fsr-3458	362	9	a	a	DET
fsr-3458	362	10	cdfs	cdfs	PROPN
fsr-3458	362	11	could	could	AUX
fsr-3458	362	12	potentially	potentially	ADV
fsr-3458	362	13	reduce	reduce	VERB
fsr-3458	362	14	the	the	DET
fsr-3458	362	15	conflict	conflict	NOUN
fsr-3458	362	16	of	of	ADP
fsr-3458	362	17	interest	interest	NOUN
fsr-3458	362	18	,	,	PUNCT
fsr-3458	362	19	or	or	CCONJ
fsr-3458	362	20	at	at	ADP
fsr-3458	362	21	least	least	ADJ
fsr-3458	362	22	can	can	AUX
fsr-3458	362	23	reduce	reduce	VERB
fsr-3458	362	24	the	the	DET
fsr-3458	362	25	immediate	immediate	ADJ
fsr-3458	362	26	sense	sense	NOUN
fsr-3458	362	27	of	of	ADP
fsr-3458	362	28	urgency	urgency	NOUN
fsr-3458	362	29	faced	face	VERB
fsr-3458	362	30	by	by	ADP
fsr-3458	362	31	many	many	ADJ
fsr-3458	362	32	advisors	advisor	NOUN
fsr-3458	362	33	,	,	PUNCT
fsr-3458	362	34	to	to	PART
fsr-3458	362	35	increase	increase	VERB
fsr-3458	362	36	aum	aum	PROPN
fsr-3458	362	37	.	.	PUNCT
fsr-3458	363	1	for	for	ADP
fsr-3458	363	2	example	example	NOUN
fsr-3458	363	3	,	,	PUNCT
fsr-3458	363	4	a	a	DET
fsr-3458	363	5	prudent	prudent	ADJ
fsr-3458	363	6	recommendation	recommendation	NOUN
fsr-3458	363	7	might	might	AUX
fsr-3458	363	8	be	be	AUX
fsr-3458	363	9	for	for	SCONJ
fsr-3458	363	10	a	a	DET
fsr-3458	363	11	client	client	NOUN
fsr-3458	363	12	to	to	PART
fsr-3458	363	13	use	use	VERB
fsr-3458	363	14	investments	investment	NOUN
fsr-3458	363	15	assets	asset	NOUN
fsr-3458	363	16	to	to	PART
fsr-3458	363	17	pay	pay	VERB
fsr-3458	363	18	down	down	ADP
fsr-3458	363	19	a	a	DET
fsr-3458	363	20	mortgage	mortgage	NOUN
fsr-3458	363	21	.	.	PUNCT
fsr-3458	364	1	however	however	ADV
fsr-3458	364	2	,	,	PUNCT
fsr-3458	364	3	a	a	DET
fsr-3458	364	4	fee	fee	NOUN
fsr-3458	364	5	-	-	PUNCT
fsr-3458	364	6	only	only	ADJ
fsr-3458	364	7	planner	planner	NOUN
fsr-3458	364	8	might	might	AUX
fsr-3458	364	9	be	be	AUX
fsr-3458	364	10	disinclined	disinclined	ADJ
fsr-3458	364	11	to	to	PART
fsr-3458	364	12	make	make	VERB
fsr-3458	364	13	such	such	DET
fsr-3458	364	14	a	a	DET
fsr-3458	364	15	recommendation	recommendation	NOUN
fsr-3458	364	16	as	as	ADP
fsr-3458	364	17	the	the	DET
fsr-3458	364	18	planner	planner	NOUN
fsr-3458	364	19	’s	’s	PART
fsr-3458	364	20	compensation	compensation	NOUN
fsr-3458	364	21	would	would	AUX
fsr-3458	364	22	be	be	AUX
fsr-3458	364	23	reduced	reduce	VERB
fsr-3458	364	24	.	.	PUNCT
fsr-3458	365	1	in	in	ADP
fsr-3458	365	2	contrast	contrast	NOUN
fsr-3458	365	3	,	,	PUNCT
fsr-3458	365	4	a	a	DET
fsr-3458	365	5	planner	planner	NOUN
fsr-3458	365	6	using	use	VERB
fsr-3458	365	7	a	a	DET
fsr-3458	365	8	form	form	NOUN
fsr-3458	365	9	of	of	ADP
fsr-3458	365	10	the	the	DET
fsr-3458	365	11	cdfs	cdfs	PROPN
fsr-3458	365	12	could	could	AUX
fsr-3458	365	13	make	make	VERB
fsr-3458	365	14	the	the	DET
fsr-3458	365	15	recommendation	recommendation	NOUN
fsr-3458	365	16	knowing	know	VERB
fsr-3458	365	17	that	that	SCONJ
fsr-3458	365	18	any	any	DET
fsr-3458	365	19	reduction	reduction	NOUN
fsr-3458	365	20	in	in	ADP
fsr-3458	365	21	compensation	compensation	NOUN
fsr-3458	365	22	due	due	ADP
fsr-3458	365	23	to	to	ADP
fsr-3458	365	24	the	the	DET
fsr-3458	365	25	reduction	reduction	NOUN
fsr-3458	365	26	in	in	ADP
fsr-3458	365	27	aum	aum	PROPN
fsr-3458	365	28	would	would	AUX
fsr-3458	365	29	be	be	AUX
fsr-3458	365	30	offset	offset	VERB
fsr-3458	365	31	by	by	ADP
fsr-3458	365	32	the	the	DET
fsr-3458	365	33	presence	presence	NOUN
fsr-3458	365	34	of	of	ADP
fsr-3458	365	35	a	a	DET
fsr-3458	365	36	planning	planning	NOUN
fsr-3458	365	37	fee	fee	NOUN
fsr-3458	365	38	associated	associate	VERB
fsr-3458	365	39	with	with	ADP
fsr-3458	365	40	the	the	DET
fsr-3458	365	41	client	client	NOUN
fsr-3458	365	42	’s	’s	PART
fsr-3458	365	43	nw	nw	PROPN
fsr-3458	365	44	.	.	PUNCT
fsr-3458	365	45	thus	thus	ADV
fsr-3458	365	46	,	,	PUNCT
fsr-3458	365	47	the	the	DET
fsr-3458	365	48	planner	planner	NOUN
fsr-3458	365	49	is	be	AUX
fsr-3458	365	50	not	not	PART
fsr-3458	365	51	forced	force	VERB
fsr-3458	365	52	to	to	PART
fsr-3458	365	53	choose	choose	VERB
fsr-3458	365	54	between	between	ADP
fsr-3458	365	55	maintaining	maintain	VERB
fsr-3458	365	56	compensation	compensation	NOUN
fsr-3458	365	57	(	(	PUNCT
fsr-3458	365	58	aum	aum	NOUN
fsr-3458	365	59	-	-	ADJ
fsr-3458	365	60	only	only	ADV
fsr-3458	365	61	)	)	PUNCT
fsr-3458	365	62	or	or	CCONJ
fsr-3458	365	63	providing	provide	VERB
fsr-3458	365	64	sound	sound	ADJ
fsr-3458	365	65	financial	financial	ADJ
fsr-3458	365	66	advice	advice	NOUN
fsr-3458	365	67	.	.	PUNCT
fsr-3458	366	1	again	again	ADV
fsr-3458	366	2	,	,	PUNCT
fsr-3458	366	3	the	the	DET
fsr-3458	366	4	cdfs	cdfs	PROPN
fsr-3458	366	5	provides	provide	VERB
fsr-3458	366	6	a	a	DET
fsr-3458	366	7	mechanism	mechanism	NOUN
fsr-3458	366	8	to	to	PART
fsr-3458	366	9	be	be	AUX
fsr-3458	366	10	compensated	compensate	VERB
fsr-3458	366	11	separately	separately	ADV
fsr-3458	366	12	for	for	ADP
fsr-3458	366	13	financial	financial	ADJ
fsr-3458	366	14	planning	planning	NOUN
fsr-3458	366	15	,	,	PUNCT
fsr-3458	366	16	and	and	CCONJ
fsr-3458	366	17	that	that	SCONJ
fsr-3458	366	18	such	such	DET
fsr-3458	366	19	an	an	DET
fsr-3458	366	20	effort	effort	NOUN
fsr-3458	366	21	is	be	AUX
fsr-3458	366	22	based	base	VERB
fsr-3458	366	23	on	on	ADP
fsr-3458	366	24	an	an	DET
fsr-3458	366	25	essential	essential	ADJ
fsr-3458	366	26	fundamental	fundamental	ADJ
fsr-3458	366	27	characteristic	characteristic	NOUN
fsr-3458	366	28	of	of	ADP
fsr-3458	366	29	planning	planning	NOUN
fsr-3458	366	30	,	,	PUNCT
fsr-3458	366	31	notably	notably	ADV
fsr-3458	366	32	understanding	understand	VERB
fsr-3458	366	33	the	the	DET
fsr-3458	366	34	nw	nw	PROPN
fsr-3458	366	35	of	of	ADP
fsr-3458	366	36	the	the	DET
fsr-3458	366	37	client	client	NOUN
fsr-3458	366	38	.	.	PUNCT
fsr-3458	367	1	242	242	NUM
fsr-3458	367	2	s.	s.	PROPN
fsr-3458	367	3	p.	p.	PROPN
fsr-3458	367	4	fraser	fraser	PROPN
fsr-3458	367	5	et	et	PROPN
fsr-3458	367	6	al	al	PROPN
fsr-3458	367	7	.	.	PUNCT
fsr-3458	367	8	/	/	SYM
fsr-3458	367	9	financial	financial	ADJ
fsr-3458	367	10	services	service	NOUN
fsr-3458	367	11	review	review	VERB
fsr-3458	367	12	29	29	NUM
fsr-3458	367	13	(	(	PUNCT
fsr-3458	367	14	2021	2021	NUM
fsr-3458	367	15	)	)	PUNCT
fsr-3458	367	16	227–245	227–245	NUM
fsr-3458	367	17	implementation	implementation	NOUN
fsr-3458	367	18	of	of	ADP
fsr-3458	367	19	a	a	DET
fsr-3458	367	20	cdfs	cdfs	PROPN
fsr-3458	367	21	is	be	AUX
fsr-3458	367	22	not	not	PART
fsr-3458	367	23	without	without	ADP
fsr-3458	367	24	its	its	PRON
fsr-3458	367	25	challenges	challenge	NOUN
fsr-3458	367	26	.	.	PUNCT
fsr-3458	368	1	first	first	ADV
fsr-3458	368	2	,	,	PUNCT
fsr-3458	368	3	establishing	establish	VERB
fsr-3458	368	4	a	a	DET
fsr-3458	368	5	client	client	NOUN
fsr-3458	368	6	’s	’s	PART
fsr-3458	368	7	net	net	ADJ
fsr-3458	368	8	worth	worth	NOUN
fsr-3458	368	9	,	,	PUNCT
fsr-3458	368	10	or	or	CCONJ
fsr-3458	368	11	at	at	ADP
fsr-3458	368	12	least	least	ADJ
fsr-3458	368	13	the	the	DET
fsr-3458	368	14	net	net	ADJ
fsr-3458	368	15	worth	worth	NOUN
fsr-3458	368	16	used	use	VERB
fsr-3458	368	17	as	as	ADP
fsr-3458	368	18	a	a	DET
fsr-3458	368	19	base	base	NOUN
fsr-3458	368	20	for	for	ADP
fsr-3458	368	21	fees	fee	NOUN
fsr-3458	368	22	,	,	PUNCT
fsr-3458	368	23	is	be	AUX
fsr-3458	368	24	never	never	ADV
fsr-3458	368	25	as	as	ADV
fsr-3458	368	26	straightforward	straightforward	ADJ
fsr-3458	368	27	as	as	SCONJ
fsr-3458	368	28	it	it	PRON
fsr-3458	368	29	might	might	AUX
fsr-3458	368	30	appear	appear	VERB
fsr-3458	368	31	.	.	PUNCT
fsr-3458	369	1	the	the	DET
fsr-3458	369	2	decision	decision	NOUN
fsr-3458	369	3	to	to	PART
fsr-3458	369	4	exclude	exclude	VERB
fsr-3458	369	5	certain	certain	ADJ
fsr-3458	369	6	assets	asset	NOUN
fsr-3458	369	7	,	,	PUNCT
fsr-3458	369	8	or	or	CCONJ
fsr-3458	369	9	even	even	ADV
fsr-3458	369	10	to	to	PART
fsr-3458	369	11	value	value	VERB
fsr-3458	369	12	assets	asset	NOUN
fsr-3458	369	13	where	where	SCONJ
fsr-3458	369	14	there	there	PRON
fsr-3458	369	15	is	be	VERB
fsr-3458	369	16	little	little	ADJ
fsr-3458	369	17	liquidity	liquidity	NOUN
fsr-3458	369	18	,	,	PUNCT
fsr-3458	369	19	is	be	AUX
fsr-3458	369	20	difficult.6	difficult.6	PROPN
fsr-3458	369	21	however	however	ADV
fsr-3458	369	22	,	,	PUNCT
fsr-3458	369	23	we	we	PRON
fsr-3458	369	24	suggest	suggest	VERB
fsr-3458	369	25	the	the	DET
fsr-3458	369	26	value	value	NOUN
fsr-3458	369	27	of	of	ADP
fsr-3458	369	28	these	these	DET
fsr-3458	369	29	required	require	VERB
fsr-3458	369	30	initial	initial	ADJ
fsr-3458	369	31	and	and	CCONJ
fsr-3458	369	32	in	in	ADP
fsr-3458	369	33	-	-	PUNCT
fsr-3458	369	34	depth	depth	NOUN
fsr-3458	369	35	conversations	conversation	NOUN
fsr-3458	369	36	with	with	ADP
fsr-3458	369	37	clients	client	NOUN
fsr-3458	369	38	will	will	AUX
fsr-3458	369	39	only	only	ADV
fsr-3458	369	40	result	result	VERB
fsr-3458	369	41	in	in	ADP
fsr-3458	369	42	a	a	DET
fsr-3458	369	43	stronger	strong	ADJ
fsr-3458	369	44	planner	planner	NOUN
fsr-3458	369	45	-	-	PUNCT
fsr-3458	369	46	client	client	NOUN
fsr-3458	369	47	relationship	relationship	NOUN
fsr-3458	369	48	as	as	ADV
fsr-3458	369	49	well	well	ADV
fsr-3458	369	50	as	as	ADP
fsr-3458	369	51	a	a	DET
fsr-3458	369	52	more	more	ADV
fsr-3458	369	53	holistic	holistic	ADJ
fsr-3458	369	54	and	and	CCONJ
fsr-3458	369	55	effective	effective	ADJ
fsr-3458	369	56	financial	financial	ADJ
fsr-3458	369	57	plan	plan	NOUN
fsr-3458	369	58	.	.	PUNCT
fsr-3458	370	1	second	second	ADJ
fsr-3458	370	2	,	,	PUNCT
fsr-3458	370	3	the	the	DET
fsr-3458	370	4	challenge	challenge	NOUN
fsr-3458	370	5	of	of	ADP
fsr-3458	370	6	u	u	PROPN
fsr-3458	370	7	.	.	PUNCT
fsr-3458	371	1	setting	set	VERB
fsr-3458	371	2	the	the	DET
fsr-3458	371	3	appropriate	appropriate	ADJ
fsr-3458	371	4	net	net	ADJ
fsr-3458	371	5	worth	worth	NOUN
fsr-3458	371	6	and	and	CCONJ
fsr-3458	371	7	asset	asset	NOUN
fsr-3458	371	8	breakpoint	breakpoint	NOUN
fsr-3458	371	9	levels	level	NOUN
fsr-3458	371	10	for	for	ADP
fsr-3458	371	11	each	each	DET
fsr-3458	371	12	fee	fee	NOUN
fsr-3458	371	13	schedule	schedule	NOUN
fsr-3458	371	14	,	,	PUNCT
fsr-3458	371	15	and	and	CCONJ
fsr-3458	371	16	the	the	DET
fsr-3458	371	17	associated	associated	ADJ
fsr-3458	371	18	fees	fee	NOUN
fsr-3458	371	19	charged	charge	VERB
fsr-3458	371	20	at	at	ADP
fsr-3458	371	21	each	each	DET
fsr-3458	371	22	level	level	NOUN
fsr-3458	371	23	,	,	PUNCT
fsr-3458	371	24	will	will	AUX
fsr-3458	371	25	need	need	VERB
fsr-3458	371	26	to	to	PART
fsr-3458	371	27	be	be	AUX
fsr-3458	371	28	determined	determine	VERB
fsr-3458	371	29	.	.	PUNCT
fsr-3458	372	1	those	those	PRON
fsr-3458	372	2	in	in	ADP
fsr-3458	372	3	this	this	DET
fsr-3458	372	4	paper	paper	NOUN
fsr-3458	372	5	,	,	PUNCT
fsr-3458	372	6	while	while	SCONJ
fsr-3458	372	7	realistic	realistic	ADJ
fsr-3458	372	8	,	,	PUNCT
fsr-3458	372	9	are	be	AUX
fsr-3458	372	10	admittedly	admittedly	ADV
fsr-3458	372	11	a	a	DET
fsr-3458	372	12	basic	basic	ADJ
fsr-3458	372	13	example	example	NOUN
fsr-3458	372	14	for	for	ADP
fsr-3458	372	15	illustration	illustration	NOUN
fsr-3458	372	16	purposes	purpose	NOUN
fsr-3458	372	17	.	.	PUNCT
fsr-3458	373	1	while	while	SCONJ
fsr-3458	373	2	challenging	challenge	VERB
fsr-3458	373	3	to	to	PART
fsr-3458	373	4	set	set	VERB
fsr-3458	373	5	them	they	PRON
fsr-3458	373	6	perfectly	perfectly	ADV
fsr-3458	373	7	,	,	PUNCT
fsr-3458	373	8	it	it	PRON
fsr-3458	373	9	is	be	AUX
fsr-3458	373	10	essential	essential	ADJ
fsr-3458	373	11	for	for	SCONJ
fsr-3458	373	12	an	an	DET
fsr-3458	373	13	advisor	advisor	NOUN
fsr-3458	373	14	/	/	SYM
fsr-3458	373	15	firm	firm	NOUN
fsr-3458	373	16	to	to	PART
fsr-3458	373	17	analyze	analyze	VERB
fsr-3458	373	18	what	what	PRON
fsr-3458	373	19	makes	make	VERB
fsr-3458	373	20	sense	sense	NOUN
fsr-3458	373	21	for	for	ADP
fsr-3458	373	22	their	their	PRON
fsr-3458	373	23	practice	practice	NOUN
fsr-3458	373	24	.	.	PUNCT
fsr-3458	374	1	it	it	PRON
fsr-3458	374	2	can	can	AUX
fsr-3458	374	3	only	only	ADV
fsr-3458	374	4	be	be	AUX
fsr-3458	374	5	beneficial	beneficial	ADJ
fsr-3458	374	6	for	for	SCONJ
fsr-3458	374	7	the	the	DET
fsr-3458	374	8	firm	firm	NOUN
fsr-3458	374	9	to	to	PART
fsr-3458	374	10	fully	fully	ADV
fsr-3458	374	11	investigate	investigate	VERB
fsr-3458	374	12	the	the	DET
fsr-3458	374	13	investment	investment	NOUN
fsr-3458	374	14	management	management	NOUN
fsr-3458	374	15	(	(	PUNCT
fsr-3458	374	16	or	or	CCONJ
fsr-3458	374	17	aum	aum	NOUN
fsr-3458	374	18	)	)	PUNCT
fsr-3458	374	19	cost	cost	NOUN
fsr-3458	374	20	within	within	ADP
fsr-3458	374	21	their	their	PRON
fsr-3458	374	22	own	own	ADJ
fsr-3458	374	23	firm	firm	NOUN
fsr-3458	374	24	.	.	PUNCT
fsr-3458	375	1	such	such	DET
fsr-3458	375	2	an	an	DET
fsr-3458	375	3	exercise	exercise	NOUN
fsr-3458	375	4	will	will	AUX
fsr-3458	375	5	help	help	VERB
fsr-3458	375	6	them	they	PRON
fsr-3458	375	7	price	price	VERB
fsr-3458	375	8	their	their	PRON
fsr-3458	375	9	investment	investment	NOUN
fsr-3458	375	10	management	management	NOUN
fsr-3458	375	11	operations	operation	NOUN
fsr-3458	375	12	appropriately	appropriately	ADV
fsr-3458	375	13	,	,	PUNCT
fsr-3458	375	14	and	and	CCONJ
fsr-3458	375	15	such	such	DET
fsr-3458	375	16	an	an	DET
fsr-3458	375	17	exercise	exercise	NOUN
fsr-3458	375	18	can	can	AUX
fsr-3458	375	19	lead	lead	VERB
fsr-3458	375	20	to	to	ADP
fsr-3458	375	21	competitive	competitive	ADJ
fsr-3458	375	22	—	—	PUNCT
fsr-3458	375	23	yet	yet	ADV
fsr-3458	375	24	hopefully	hopefully	ADV
fsr-3458	375	25	profitable	profitable	ADJ
fsr-3458	375	26	—	—	PUNCT
fsr-3458	375	27	breakpoints	breakpoint	NOUN
fsr-3458	375	28	and	and	CCONJ
fsr-3458	375	29	fees	fee	NOUN
fsr-3458	375	30	.	.	PUNCT
fsr-3458	376	1	the	the	DET
fsr-3458	376	2	firm	firm	NOUN
fsr-3458	376	3	can	can	AUX
fsr-3458	376	4	then	then	ADV
fsr-3458	376	5	in	in	ADP
fsr-3458	376	6	turn	turn	NOUN
fsr-3458	376	7	move	move	NOUN
fsr-3458	376	8	to	to	ADP
fsr-3458	376	9	assessing	assess	VERB
fsr-3458	376	10	the	the	DET
fsr-3458	376	11	scope	scope	NOUN
fsr-3458	376	12	and	and	CCONJ
fsr-3458	376	13	magnitude	magnitude	NOUN
fsr-3458	376	14	of	of	ADP
fsr-3458	376	15	their	their	PRON
fsr-3458	376	16	broader	broad	ADJ
fsr-3458	376	17	financial	financial	ADJ
fsr-3458	376	18	planning	planning	NOUN
fsr-3458	376	19	services	service	NOUN
fsr-3458	376	20	and	and	CCONJ
fsr-3458	376	21	fees	fee	NOUN
fsr-3458	376	22	.	.	PUNCT
fsr-3458	377	1	if	if	SCONJ
fsr-3458	377	2	,	,	PUNCT
fsr-3458	377	3	and	and	CCONJ
fsr-3458	377	4	to	to	ADP
fsr-3458	377	5	what	what	DET
fsr-3458	377	6	level	level	NOUN
fsr-3458	377	7	,	,	PUNCT
fsr-3458	377	8	a	a	DET
fsr-3458	377	9	planning	planning	NOUN
fsr-3458	377	10	fee	fee	NOUN
fsr-3458	377	11	might	might	AUX
fsr-3458	377	12	be	be	AUX
fsr-3458	377	13	reduced	reduce	VERB
fsr-3458	377	14	would	would	AUX
fsr-3458	377	15	also	also	ADV
fsr-3458	377	16	need	need	VERB
fsr-3458	377	17	to	to	PART
fsr-3458	377	18	be	be	AUX
fsr-3458	377	19	accomplished	accomplish	VERB
fsr-3458	377	20	.	.	PUNCT
fsr-3458	378	1	here	here	ADV
fsr-3458	378	2	again	again	ADV
fsr-3458	378	3	,	,	PUNCT
fsr-3458	378	4	this	this	DET
fsr-3458	378	5	approach	approach	NOUN
fsr-3458	378	6	,	,	PUNCT
fsr-3458	378	7	and	and	CCONJ
fsr-3458	378	8	the	the	DET
fsr-3458	378	9	accompanying	accompanying	ADJ
fsr-3458	378	10	conversation	conversation	NOUN
fsr-3458	378	11	with	with	ADP
fsr-3458	378	12	clients	client	NOUN
fsr-3458	378	13	,	,	PUNCT
fsr-3458	378	14	might	might	AUX
fsr-3458	378	15	make	make	VERB
fsr-3458	378	16	an	an	DET
fsr-3458	378	17	advisor	advisor	NOUN
fsr-3458	378	18	more	more	ADV
fsr-3458	378	19	attractive	attractive	ADJ
fsr-3458	378	20	to	to	ADP
fsr-3458	378	21	potential	potential	ADJ
fsr-3458	378	22	clients	client	NOUN
fsr-3458	378	23	.	.	PUNCT
fsr-3458	379	1	when	when	SCONJ
fsr-3458	379	2	a	a	DET
fsr-3458	379	3	client	client	NOUN
fsr-3458	379	4	does	do	AUX
fsr-3458	379	5	choose	choose	VERB
fsr-3458	379	6	to	to	PART
fsr-3458	379	7	move	move	VERB
fsr-3458	379	8	assets	asset	NOUN
fsr-3458	379	9	to	to	ADP
fsr-3458	379	10	the	the	DET
fsr-3458	379	11	planner	planner	NOUN
fsr-3458	379	12	,	,	PUNCT
fsr-3458	379	13	the	the	DET
fsr-3458	379	14	firm	firm	NOUN
fsr-3458	379	15	could	could	AUX
fsr-3458	379	16	charge	charge	VERB
fsr-3458	379	17	a	a	DET
fsr-3458	379	18	single	single	ADJ
fsr-3458	379	19	,	,	PUNCT
fsr-3458	379	20	blended	blended	ADJ
fsr-3458	379	21	fee	fee	NOUN
fsr-3458	379	22	to	to	PART
fsr-3458	379	23	ease	ease	VERB
fsr-3458	379	24	in	in	ADP
fsr-3458	379	25	operationalizing	operationalize	VERB
fsr-3458	379	26	the	the	DET
fsr-3458	379	27	concept	concept	NOUN
fsr-3458	379	28	.	.	PUNCT
fsr-3458	380	1	the	the	DET
fsr-3458	380	2	mere	mere	ADJ
fsr-3458	380	3	discussion	discussion	NOUN
fsr-3458	380	4	of	of	ADP
fsr-3458	380	5	the	the	DET
fsr-3458	380	6	component	component	NOUN
fsr-3458	380	7	aspects	aspect	NOUN
fsr-3458	380	8	will	will	AUX
fsr-3458	380	9	improve	improve	VERB
fsr-3458	380	10	client	client	NOUN
fsr-3458	380	11	-	-	PUNCT
fsr-3458	380	12	planner	planner	NOUN
fsr-3458	380	13	communication	communication	NOUN
fsr-3458	380	14	.	.	PUNCT
fsr-3458	381	1	for	for	ADP
fsr-3458	381	2	firms	firm	NOUN
fsr-3458	381	3	in	in	ADP
fsr-3458	381	4	which	which	PRON
fsr-3458	381	5	financial	financial	ADJ
fsr-3458	381	6	planning	planning	NOUN
fsr-3458	381	7	is	be	AUX
fsr-3458	381	8	their	their	PRON
fsr-3458	381	9	comparative	comparative	ADJ
fsr-3458	381	10	advantage	advantage	NOUN
fsr-3458	381	11	over	over	ADP
fsr-3458	381	12	investment	investment	NOUN
fsr-3458	381	13	management	management	NOUN
fsr-3458	381	14	,	,	PUNCT
fsr-3458	381	15	the	the	DET
fsr-3458	381	16	cdfs	cdfs	PROPN
fsr-3458	381	17	provides	provide	VERB
fsr-3458	381	18	a	a	DET
fsr-3458	381	19	viable	viable	ADJ
fsr-3458	381	20	option	option	NOUN
fsr-3458	381	21	to	to	PART
fsr-3458	381	22	provide	provide	VERB
fsr-3458	381	23	and	and	CCONJ
fsr-3458	381	24	market	market	VERB
fsr-3458	381	25	those	those	DET
fsr-3458	381	26	services	service	NOUN
fsr-3458	381	27	as	as	ADP
fsr-3458	381	28	a	a	DET
fsr-3458	381	29	standalone	standalone	ADJ
fsr-3458	381	30	alternative	alternative	NOUN
fsr-3458	381	31	.	.	PUNCT
fsr-3458	382	1	we	we	PRON
fsr-3458	382	2	also	also	ADV
fsr-3458	382	3	suggest	suggest	VERB
fsr-3458	382	4	the	the	DET
fsr-3458	382	5	introduction	introduction	NOUN
fsr-3458	382	6	of	of	ADP
fsr-3458	382	7	a	a	DET
fsr-3458	382	8	cdfs	cdfs	PROPN
fsr-3458	382	9	can	can	AUX
fsr-3458	382	10	lead	lead	VERB
fsr-3458	382	11	to	to	ADP
fsr-3458	382	12	new	new	ADJ
fsr-3458	382	13	research	research	NOUN
fsr-3458	382	14	opportunities	opportunity	NOUN
fsr-3458	382	15	.	.	PUNCT
fsr-3458	383	1	specifically	specifically	ADV
fsr-3458	383	2	,	,	PUNCT
fsr-3458	383	3	researchers	researcher	NOUN
fsr-3458	383	4	can	can	AUX
fsr-3458	383	5	look	look	VERB
fsr-3458	383	6	to	to	ADP
fsr-3458	383	7	better	well	ADV
fsr-3458	383	8	set	set	VERB
fsr-3458	383	9	,	,	PUNCT
fsr-3458	383	10	and	and	CCONJ
fsr-3458	383	11	perhaps	perhaps	ADV
fsr-3458	383	12	optimize	optimize	VERB
fsr-3458	383	13	,	,	PUNCT
fsr-3458	383	14	both	both	CCONJ
fsr-3458	383	15	the	the	DET
fsr-3458	383	16	level	level	NOUN
fsr-3458	383	17	and	and	CCONJ
fsr-3458	383	18	breakpoints	breakpoint	NOUN
fsr-3458	383	19	of	of	ADP
fsr-3458	383	20	the	the	DET
fsr-3458	383	21	cdfs	cdfs	ADJ
fsr-3458	383	22	schedule	schedule	NOUN
fsr-3458	383	23	.	.	PUNCT
fsr-3458	384	1	these	these	DET
fsr-3458	384	2	two	two	NUM
fsr-3458	384	3	variables	variable	NOUN
fsr-3458	384	4	are	be	AUX
fsr-3458	384	5	just	just	ADV
fsr-3458	384	6	two	two	NUM
fsr-3458	384	7	of	of	ADP
fsr-3458	384	8	the	the	DET
fsr-3458	384	9	levers	lever	NOUN
fsr-3458	384	10	available	available	ADJ
fsr-3458	384	11	to	to	ADP
fsr-3458	384	12	planners	planner	NOUN
fsr-3458	384	13	.	.	PUNCT
fsr-3458	385	1	so	so	ADV
fsr-3458	385	2	,	,	PUNCT
fsr-3458	385	3	too	too	ADV
fsr-3458	385	4	,	,	PUNCT
fsr-3458	385	5	more	more	ADJ
fsr-3458	385	6	research	research	NOUN
fsr-3458	385	7	will	will	AUX
fsr-3458	385	8	be	be	AUX
fsr-3458	385	9	needed	need	VERB
fsr-3458	385	10	to	to	PART
fsr-3458	385	11	determine	determine	VERB
fsr-3458	385	12	what	what	PRON
fsr-3458	385	13	might	might	AUX
fsr-3458	385	14	be	be	AUX
fsr-3458	385	15	the	the	DET
fsr-3458	385	16	appropriate	appropriate	ADJ
fsr-3458	385	17	reduction	reduction	NOUN
fsr-3458	385	18	in	in	ADP
fsr-3458	385	19	the	the	DET
fsr-3458	385	20	nw	nw	PROPN
fsr-3458	385	21	component	component	NOUN
fsr-3458	385	22	fee	fee	NOUN
fsr-3458	385	23	after	after	ADP
fsr-3458	385	24	the	the	DET
fsr-3458	385	25	first	first	ADJ
fsr-3458	385	26	year	year	NOUN
fsr-3458	385	27	,	,	PUNCT
fsr-3458	385	28	or	or	CCONJ
fsr-3458	385	29	initial	initial	ADJ
fsr-3458	385	30	onboarding	onboarding	NOUN
fsr-3458	385	31	of	of	ADP
fsr-3458	385	32	a	a	DET
fsr-3458	385	33	client	client	NOUN
fsr-3458	385	34	.	.	PUNCT
fsr-3458	386	1	finally	finally	ADV
fsr-3458	386	2	,	,	PUNCT
fsr-3458	386	3	it	it	PRON
fsr-3458	386	4	will	will	AUX
fsr-3458	386	5	be	be	AUX
fsr-3458	386	6	important	important	ADJ
fsr-3458	386	7	to	to	PART
fsr-3458	386	8	determine	determine	VERB
fsr-3458	386	9	whether	whether	SCONJ
fsr-3458	386	10	,	,	PUNCT
fsr-3458	386	11	and	and	CCONJ
fsr-3458	386	12	how	how	SCONJ
fsr-3458	386	13	,	,	PUNCT
fsr-3458	386	14	a	a	DET
fsr-3458	386	15	cdfs	cdfs	PROPN
fsr-3458	386	16	might	might	AUX
fsr-3458	386	17	change	change	VERB
fsr-3458	386	18	given	give	VERB
fsr-3458	386	19	different	different	ADJ
fsr-3458	386	20	client	client	NOUN
fsr-3458	386	21	profiles	profile	NOUN
fsr-3458	386	22	(	(	PUNCT
fsr-3458	386	23	the	the	DET
fsr-3458	386	24	ratio	ratio	NOUN
fsr-3458	386	25	of	of	ADP
fsr-3458	386	26	nw	nw	PROPN
fsr-3458	386	27	to	to	ADP
fsr-3458	386	28	i	i	PRON
fsr-3458	386	29	m	m	PROPN
fsr-3458	386	30	)	)	PUNCT
fsr-3458	386	31	beyond	beyond	ADP
fsr-3458	386	32	the	the	DET
fsr-3458	386	33	nine	nine	NUM
fsr-3458	386	34	illustrated	illustrate	VERB
fsr-3458	386	35	in	in	ADP
fsr-3458	386	36	this	this	DET
fsr-3458	386	37	introductory	introductory	ADJ
fsr-3458	386	38	model	model	NOUN
fsr-3458	386	39	.	.	PUNCT
fsr-3458	387	1	we	we	PRON
fsr-3458	387	2	leave	leave	VERB
fsr-3458	387	3	these	these	DET
fsr-3458	387	4	efforts	effort	NOUN
fsr-3458	387	5	for	for	ADP
fsr-3458	387	6	further	further	ADJ
fsr-3458	387	7	research	research	NOUN
fsr-3458	387	8	.	.	PUNCT
fsr-3458	388	1	there	there	PRON
fsr-3458	388	2	is	be	VERB
fsr-3458	388	3	a	a	DET
fsr-3458	388	4	myriad	myriad	NOUN
fsr-3458	388	5	of	of	ADP
fsr-3458	388	6	compensation	compensation	NOUN
fsr-3458	388	7	structures	structure	NOUN
fsr-3458	388	8	available	available	ADJ
fsr-3458	388	9	for	for	ADP
fsr-3458	388	10	financial	financial	ADJ
fsr-3458	388	11	planners	planner	NOUN
fsr-3458	388	12	,	,	PUNCT
fsr-3458	388	13	and	and	CCONJ
fsr-3458	388	14	certainly	certainly	ADV
fsr-3458	388	15	no	no	DET
fsr-3458	388	16	one	one	NUM
fsr-3458	388	17	compensation	compensation	NOUN
fsr-3458	388	18	scheme	scheme	NOUN
fsr-3458	388	19	is	be	AUX
fsr-3458	388	20	best	good	ADJ
fsr-3458	388	21	for	for	ADP
fsr-3458	388	22	all	all	DET
fsr-3458	388	23	situations	situation	NOUN
fsr-3458	388	24	.	.	PUNCT
fsr-3458	389	1	however	however	ADV
fsr-3458	389	2	,	,	PUNCT
fsr-3458	389	3	we	we	PRON
fsr-3458	389	4	posit	posit	VERB
fsr-3458	389	5	that	that	SCONJ
fsr-3458	389	6	a	a	DET
fsr-3458	389	7	composite	composite	ADJ
fsr-3458	389	8	,	,	PUNCT
fsr-3458	389	9	dual	dual	ADJ
fsr-3458	389	10	fee	fee	NOUN
fsr-3458	389	11	structure	structure	NOUN
fsr-3458	389	12	like	like	ADP
fsr-3458	389	13	that	that	PRON
fsr-3458	389	14	proposed	propose	VERB
fsr-3458	389	15	here	here	ADV
fsr-3458	389	16	is	be	AUX
fsr-3458	389	17	worth	worth	ADJ
fsr-3458	389	18	investigating	investigate	VERB
fsr-3458	389	19	by	by	ADP
fsr-3458	389	20	all	all	DET
fsr-3458	389	21	advisors	advisor	NOUN
fsr-3458	389	22	/	/	SYM
fsr-3458	389	23	firms	firm	NOUN
fsr-3458	389	24	who	who	PRON
fsr-3458	389	25	perform	perform	VERB
fsr-3458	389	26	holistic	holistic	ADJ
fsr-3458	389	27	financial	financial	ADJ
fsr-3458	389	28	planning	planning	NOUN
fsr-3458	389	29	services	service	NOUN
fsr-3458	389	30	over	over	ADP
fsr-3458	389	31	and	and	CCONJ
fsr-3458	389	32	above	above	ADP
fsr-3458	389	33	investment	investment	NOUN
fsr-3458	389	34	management	management	NOUN
fsr-3458	389	35	services	service	NOUN
fsr-3458	389	36	.	.	PUNCT
fsr-3458	390	1	such	such	DET
fsr-3458	390	2	an	an	DET
fsr-3458	390	3	examination	examination	NOUN
fsr-3458	390	4	would	would	AUX
fsr-3458	390	5	provide	provide	VERB
fsr-3458	390	6	more	more	ADJ
fsr-3458	390	7	transparency	transparency	NOUN
fsr-3458	390	8	to	to	ADP
fsr-3458	390	9	clients	client	NOUN
fsr-3458	390	10	,	,	PUNCT
fsr-3458	390	11	more	more	ADV
fsr-3458	390	12	appropriate	appropriate	ADJ
fsr-3458	390	13	pricing	pricing	NOUN
fsr-3458	390	14	for	for	ADP
fsr-3458	390	15	services	service	NOUN
fsr-3458	390	16	provided	provide	VERB
fsr-3458	390	17	,	,	PUNCT
fsr-3458	390	18	and	and	CCONJ
fsr-3458	390	19	perhaps	perhaps	ADV
fsr-3458	390	20	even	even	ADV
fsr-3458	390	21	reduce	reduce	VERB
fsr-3458	390	22	conflicts	conflict	NOUN
fsr-3458	390	23	of	of	ADP
fsr-3458	390	24	interest	interest	NOUN
fsr-3458	390	25	.	.	PUNCT
fsr-3458	391	1	we	we	PRON
fsr-3458	391	2	find	find	VERB
fsr-3458	391	3	that	that	SCONJ
fsr-3458	391	4	under	under	ADP
fsr-3458	391	5	reasonable	reasonable	ADJ
fsr-3458	391	6	return	return	NOUN
fsr-3458	391	7	assumptions	assumption	NOUN
fsr-3458	391	8	,	,	PUNCT
fsr-3458	391	9	such	such	DET
fsr-3458	391	10	a	a	DET
fsr-3458	391	11	fee	fee	NOUN
fsr-3458	391	12	structure	structure	NOUN
fsr-3458	391	13	can	can	AUX
fsr-3458	391	14	result	result	VERB
fsr-3458	391	15	in	in	ADP
fsr-3458	391	16	comparable	comparable	ADJ
fsr-3458	391	17	fees	fee	NOUN
fsr-3458	391	18	and	and	CCONJ
fsr-3458	391	19	portfolio	portfolio	NOUN
fsr-3458	391	20	impacts	impact	NOUN
fsr-3458	391	21	as	as	ADP
fsr-3458	391	22	the	the	DET
fsr-3458	391	23	pervasive	pervasive	ADJ
fsr-3458	391	24	aum	aum	PROPN
fsr-3458	391	25	structure	structure	NOUN
fsr-3458	391	26	.	.	PUNCT
fsr-3458	392	1	all	all	DET
fsr-3458	392	2	these	these	DET
fsr-3458	392	3	outcomes	outcome	NOUN
fsr-3458	392	4	would	would	AUX
fsr-3458	392	5	improve	improve	VERB
fsr-3458	392	6	the	the	DET
fsr-3458	392	7	nature	nature	NOUN
fsr-3458	392	8	of	of	ADP
fsr-3458	392	9	the	the	DET
fsr-3458	392	10	fiduciary	fiduciary	ADJ
fsr-3458	392	11	relationship	relationship	NOUN
fsr-3458	392	12	.	.	PUNCT
fsr-3458	393	1	perhaps	perhaps	ADV
fsr-3458	393	2	such	such	DET
fsr-3458	393	3	an	an	DET
fsr-3458	393	4	effort	effort	NOUN
fsr-3458	393	5	can	can	AUX
fsr-3458	393	6	improve	improve	VERB
fsr-3458	393	7	on	on	ADP
fsr-3458	393	8	the	the	DET
fsr-3458	393	9	awareness	awareness	NOUN
fsr-3458	393	10	of	of	ADP
fsr-3458	393	11	the	the	DET
fsr-3458	393	12	nearly	nearly	ADV
fsr-3458	393	13	20	20	NUM
fsr-3458	393	14	%	%	NOUN
fsr-3458	393	15	of	of	ADP
fsr-3458	393	16	clients	client	NOUN
fsr-3458	393	17	identified	identify	VERB
fsr-3458	393	18	by	by	ADP
fsr-3458	393	19	cheng	cheng	PROPN
fsr-3458	393	20	and	and	CCONJ
fsr-3458	393	21	kalenkoski	kalenkoski	PROPN
fsr-3458	393	22	(	(	PUNCT
fsr-3458	393	23	2018	2018	NUM
fsr-3458	393	24	)	)	PUNCT
fsr-3458	393	25	who	who	PRON
fsr-3458	393	26	have	have	VERB
fsr-3458	393	27	no	no	DET
fsr-3458	393	28	idea	idea	NOUN
fsr-3458	393	29	what	what	PRON
fsr-3458	393	30	for	for	ADP
fsr-3458	393	31	what	what	PRON
fsr-3458	393	32	services	service	NOUN
fsr-3458	393	33	or	or	CCONJ
fsr-3458	393	34	advice	advice	NOUN
fsr-3458	393	35	they	they	PRON
fsr-3458	393	36	are	be	AUX
fsr-3458	393	37	paying	pay	VERB
fsr-3458	393	38	.	.	PUNCT
fsr-3458	394	1	the	the	DET
fsr-3458	394	2	benefits	benefit	NOUN
fsr-3458	394	3	of	of	ADP
fsr-3458	394	4	pursuing	pursue	VERB
fsr-3458	394	5	such	such	DET
fsr-3458	394	6	an	an	DET
fsr-3458	394	7	approach	approach	NOUN
fsr-3458	394	8	likely	likely	ADV
fsr-3458	394	9	far	far	ADV
fsr-3458	394	10	outweigh	outweigh	VERB
fsr-3458	394	11	the	the	DET
fsr-3458	394	12	costs	cost	NOUN
fsr-3458	394	13	,	,	PUNCT
fsr-3458	394	14	for	for	ADP
fsr-3458	394	15	planners	planner	NOUN
fsr-3458	394	16	and	and	CCONJ
fsr-3458	394	17	clients	client	NOUN
fsr-3458	394	18	alike	alike	ADV
fsr-3458	394	19	.	.	PUNCT
fsr-3458	395	1	s.	s.	PROPN
fsr-3458	395	2	p.	p.	PROPN
fsr-3458	395	3	fraser	fraser	PROPN
fsr-3458	396	1	et	et	PROPN
fsr-3458	396	2	al	al	PROPN
fsr-3458	396	3	.	.	PUNCT
fsr-3458	396	4	/	/	SYM
fsr-3458	396	5	financial	financial	ADJ
fsr-3458	396	6	services	service	NOUN
fsr-3458	396	7	review	review	VERB
fsr-3458	396	8	29	29	NUM
fsr-3458	396	9	(	(	PUNCT
fsr-3458	396	10	2021	2021	NUM
fsr-3458	396	11	)	)	PUNCT
fsr-3458	396	12	227–245	227–245	NUM
fsr-3458	396	13	243	243	NUM
fsr-3458	396	14	notes	note	NOUN
fsr-3458	396	15	1	1	NUM
fsr-3458	396	16	we	we	PRON
fsr-3458	396	17	use	use	VERB
fsr-3458	396	18	the	the	DET
fsr-3458	396	19	term	term	NOUN
fsr-3458	396	20	financial	financial	ADJ
fsr-3458	396	21	planning	planning	NOUN
fsr-3458	396	22	in	in	ADP
fsr-3458	396	23	lieu	lieu	NOUN
fsr-3458	396	24	of	of	ADP
fsr-3458	396	25	financial	financial	ADJ
fsr-3458	396	26	advice	advice	NOUN
fsr-3458	396	27	to	to	PART
fsr-3458	396	28	distinguish	distinguish	VERB
fsr-3458	396	29	when	when	SCONJ
fsr-3458	396	30	advice	advice	NOUN
fsr-3458	396	31	might	might	AUX
fsr-3458	396	32	be	be	AUX
fsr-3458	396	33	provided	provide	VERB
fsr-3458	396	34	incidental	incidental	ADJ
fsr-3458	396	35	to	to	ADP
fsr-3458	396	36	the	the	DET
fsr-3458	396	37	sale	sale	NOUN
fsr-3458	396	38	of	of	ADP
fsr-3458	396	39	a	a	DET
fsr-3458	396	40	product	product	NOUN
fsr-3458	396	41	.	.	PUNCT
fsr-3458	397	1	2	2	NUM
fsr-3458	397	2	in	in	ADP
fsr-3458	397	3	this	this	DET
fsr-3458	397	4	analysis	analysis	NOUN
fsr-3458	397	5	u	u	NOUN
fsr-3458	397	6	reduces	reduce	VERB
fsr-3458	397	7	to	to	ADP
fsr-3458	397	8	u	u	NOUN
fsr-3458	397	9	/2	/2	NOUN
fsr-3458	397	10	for	for	ADP
fsr-3458	397	11	each	each	DET
fsr-3458	397	12	year	year	NOUN
fsr-3458	397	13	after	after	SCONJ
fsr-3458	397	14	the	the	DET
fsr-3458	397	15	initial	initial	ADJ
fsr-3458	397	16	planning	planning	NOUN
fsr-3458	397	17	activities	activity	NOUN
fsr-3458	397	18	occur	occur	VERB
fsr-3458	397	19	.	.	PUNCT
fsr-3458	398	1	3	3	NUM
fsr-3458	398	2	annual	annual	ADJ
fsr-3458	398	3	advisor	advisor	NOUN
fsr-3458	398	4	and	and	CCONJ
fsr-3458	398	5	trading	trading	NOUN
fsr-3458	398	6	fees	fee	NOUN
fsr-3458	398	7	are	be	AUX
fsr-3458	398	8	paid	pay	VERB
fsr-3458	398	9	from	from	ADP
fsr-3458	398	10	stock	stock	NOUN
fsr-3458	398	11	and	and	CCONJ
fsr-3458	398	12	bond	bond	NOUN
fsr-3458	398	13	(	(	PUNCT
fsr-3458	398	14	ia	ia	NOUN
fsr-3458	398	15	)	)	PUNCT
fsr-3458	398	16	asset	asset	NOUN
fsr-3458	398	17	returns	return	NOUN
fsr-3458	398	18	.	.	PUNCT
fsr-3458	399	1	in	in	ADP
fsr-3458	399	2	sum	sum	NOUN
fsr-3458	399	3	,	,	PUNCT
fsr-3458	399	4	at	at	ADP
fsr-3458	399	5	the	the	DET
fsr-3458	399	6	end	end	NOUN
fsr-3458	399	7	of	of	ADP
fsr-3458	399	8	each	each	DET
fsr-3458	399	9	year	year	NOUN
fsr-3458	399	10	of	of	ADP
fsr-3458	399	11	analysis	analysis	NOUN
fsr-3458	399	12	,	,	PUNCT
fsr-3458	399	13	either	either	CCONJ
fsr-3458	399	14	stocks	stock	NOUN
fsr-3458	399	15	or	or	CCONJ
fsr-3458	399	16	bonds	bond	NOUN
fsr-3458	399	17	are	be	AUX
fsr-3458	399	18	relatively	relatively	ADV
fsr-3458	399	19	overweight	overweight	ADJ
fsr-3458	399	20	.	.	PUNCT
fsr-3458	400	1	i	i	PRON
fsr-3458	400	2	m	m	VERB
fsr-3458	400	3	fees	fee	NOUN
fsr-3458	400	4	are	be	AUX
fsr-3458	400	5	paid	pay	VERB
fsr-3458	400	6	from	from	ADP
fsr-3458	400	7	the	the	DET
fsr-3458	400	8	overweight	overweight	ADJ
fsr-3458	400	9	asset	asset	NOUN
fsr-3458	400	10	,	,	PUNCT
fsr-3458	400	11	and	and	CCONJ
fsr-3458	400	12	then	then	ADV
fsr-3458	400	13	the	the	DET
fsr-3458	400	14	necessary	necessary	ADJ
fsr-3458	400	15	remainder	remainder	NOUN
fsr-3458	400	16	is	be	AUX
fsr-3458	400	17	sold	sell	VERB
fsr-3458	400	18	and	and	CCONJ
fsr-3458	400	19	used	use	VERB
fsr-3458	400	20	to	to	PART
fsr-3458	400	21	purchase	purchase	VERB
fsr-3458	400	22	the	the	DET
fsr-3458	400	23	underweight	underweight	NOUN
fsr-3458	400	24	asset	asset	NOUN
fsr-3458	400	25	to	to	PART
fsr-3458	400	26	bring	bring	VERB
fsr-3458	400	27	the	the	DET
fsr-3458	400	28	stock	stock	NOUN
fsr-3458	400	29	-	-	PUNCT
fsr-3458	400	30	bond	bond	NOUN
fsr-3458	400	31	asset	asset	NOUN
fsr-3458	400	32	mix	mix	NOUN
fsr-3458	400	33	back	back	ADV
fsr-3458	400	34	to	to	ADP
fsr-3458	400	35	its	its	PRON
fsr-3458	400	36	original	original	ADJ
fsr-3458	400	37	weighting	weighting	NOUN
fsr-3458	400	38	scheme	scheme	NOUN
fsr-3458	400	39	.	.	PUNCT
fsr-3458	401	1	transactions	transaction	NOUN
fsr-3458	401	2	or	or	CCONJ
fsr-3458	401	3	trading	trading	NOUN
fsr-3458	401	4	fees	fee	NOUN
fsr-3458	401	5	are	be	AUX
fsr-3458	401	6	assessed	assess	VERB
fsr-3458	401	7	at	at	ADP
fsr-3458	401	8	$	$	SYM
fsr-3458	401	9	9.95	9.95	NUM
fsr-3458	401	10	�	�	NOUN
fsr-3458	401	11	2	2	NUM
fsr-3458	401	12	for	for	ADP
fsr-3458	401	13	a	a	DET
fsr-3458	401	14	roundtrip	roundtrip	NOUN
fsr-3458	401	15	buy	buy	NOUN
fsr-3458	401	16	-	-	PUNCT
fsr-3458	401	17	sell	sell	NOUN
fsr-3458	401	18	transaction	transaction	NOUN
fsr-3458	401	19	.	.	PUNCT
fsr-3458	402	1	the	the	DET
fsr-3458	402	2	remaining	remain	VERB
fsr-3458	402	3	portion	portion	NOUN
fsr-3458	402	4	of	of	ADP
fsr-3458	402	5	the	the	DET
fsr-3458	402	6	nw	nw	PROPN
fsr-3458	402	7	portfolio	portfolio	PROPN
fsr-3458	402	8	is	be	AUX
fsr-3458	402	9	assumed	assume	VERB
fsr-3458	402	10	to	to	PART
fsr-3458	402	11	grow	grow	VERB
fsr-3458	402	12	at	at	ADP
fsr-3458	402	13	the	the	DET
fsr-3458	402	14	appropriately	appropriately	ADV
fsr-3458	402	15	weighted	weight	VERB
fsr-3458	402	16	rate	rate	NOUN
fsr-3458	402	17	of	of	ADP
fsr-3458	402	18	private	private	ADJ
fsr-3458	402	19	equity	equity	NOUN
fsr-3458	402	20	and	and	CCONJ
fsr-3458	402	21	real	real	ADJ
fsr-3458	402	22	estate	estate	NOUN
fsr-3458	402	23	.	.	PUNCT
fsr-3458	403	1	4	4	NUM
fsr-3458	403	2	these	these	PRON
fsr-3458	403	3	mean	mean	VERB
fsr-3458	403	4	values	value	NOUN
fsr-3458	403	5	become	become	VERB
fsr-3458	403	6	even	even	ADV
fsr-3458	403	7	more	more	ADV
fsr-3458	403	8	aligned	align	VERB
fsr-3458	403	9	between	between	ADP
fsr-3458	403	10	the	the	DET
fsr-3458	403	11	simulation	simulation	NOUN
fsr-3458	403	12	and	and	CCONJ
fsr-3458	403	13	target	target	NOUN
fsr-3458	403	14	values	value	NOUN
fsr-3458	403	15	over	over	ADP
fsr-3458	403	16	our	our	PRON
fsr-3458	403	17	20and	20and	ADJ
fsr-3458	403	18	40	40	NUM
fsr-3458	403	19	-	-	PUNCT
fsr-3458	403	20	year	year	NOUN
fsr-3458	403	21	time	time	NOUN
fsr-3458	403	22	periods	period	NOUN
fsr-3458	403	23	discussed	discuss	VERB
fsr-3458	403	24	later	later	ADV
fsr-3458	403	25	in	in	ADP
fsr-3458	403	26	the	the	DET
fsr-3458	403	27	study	study	NOUN
fsr-3458	403	28	.	.	PUNCT
fsr-3458	404	1	based	base	VERB
fsr-3458	404	2	on	on	ADP
fsr-3458	404	3	the	the	DET
fsr-3458	404	4	numerical	numerical	ADJ
fsr-3458	404	5	similarity	similarity	NOUN
fsr-3458	404	6	between	between	ADP
fsr-3458	404	7	the	the	DET
fsr-3458	404	8	simulated	simulate	VERB
fsr-3458	404	9	and	and	CCONJ
fsr-3458	404	10	target	target	NOUN
fsr-3458	404	11	measures	measure	NOUN
fsr-3458	404	12	(	(	PUNCT
fsr-3458	404	13	return	return	NOUN
fsr-3458	404	14	,	,	PUNCT
fsr-3458	404	15	risk	risk	NOUN
fsr-3458	404	16	,	,	PUNCT
fsr-3458	404	17	and	and	CCONJ
fsr-3458	404	18	pairwise	pairwise	NOUN
fsr-3458	404	19	correlations	correlation	NOUN
fsr-3458	404	20	)	)	PUNCT
fsr-3458	404	21	,	,	PUNCT
fsr-3458	404	22	we	we	PRON
fsr-3458	404	23	are	be	AUX
fsr-3458	404	24	confident	confident	ADJ
fsr-3458	404	25	the	the	DET
fsr-3458	404	26	simulated	simulated	ADJ
fsr-3458	404	27	returns	return	NOUN
fsr-3458	404	28	sufficiently	sufficiently	ADV
fsr-3458	404	29	represent	represent	VERB
fsr-3458	404	30	the	the	DET
fsr-3458	404	31	potential	potential	ADJ
fsr-3458	404	32	future	future	ADJ
fsr-3458	404	33	returns	return	NOUN
fsr-3458	404	34	based	base	VERB
fsr-3458	404	35	on	on	ADP
fsr-3458	404	36	the	the	DET
fsr-3458	404	37	2020	2020	NUM
fsr-3458	404	38	jpm	jpm	PROPN
fsr-3458	404	39	capital	capital	NOUN
fsr-3458	404	40	market	market	NOUN
fsr-3458	404	41	assumptions	assumption	NOUN
fsr-3458	404	42	.	.	PUNCT
fsr-3458	405	1	5	5	NUM
fsr-3458	405	2	we	we	PRON
fsr-3458	405	3	depict	depict	VERB
fsr-3458	405	4	only	only	ADV
fsr-3458	405	5	mean	mean	VERB
fsr-3458	405	6	values	value	NOUN
fsr-3458	405	7	for	for	ADP
fsr-3458	405	8	parsimony	parsimony	ADJ
fsr-3458	405	9	purposes	purpose	NOUN
fsr-3458	405	10	.	.	PUNCT
fsr-3458	406	1	all	all	DET
fsr-3458	406	2	distributional	distributional	ADJ
fsr-3458	406	3	data	datum	NOUN
fsr-3458	406	4	are	be	AUX
fsr-3458	406	5	available	available	ADJ
fsr-3458	406	6	upon	upon	SCONJ
fsr-3458	406	7	request	request	NOUN
fsr-3458	406	8	.	.	PUNCT
fsr-3458	407	1	6	6	NUM
fsr-3458	407	2	this	this	DET
fsr-3458	407	3	analysis	analysis	NOUN
fsr-3458	407	4	assumes	assume	VERB
fsr-3458	407	5	planners	planner	NOUN
fsr-3458	407	6	would	would	AUX
fsr-3458	407	7	assess	assess	VERB
fsr-3458	407	8	negative	negative	ADJ
fsr-3458	407	9	equity	equity	NOUN
fsr-3458	407	10	assets	asset	NOUN
fsr-3458	407	11	(	(	PUNCT
fsr-3458	407	12	e.g.	e.g.	ADV
fsr-3458	407	13	,	,	PUNCT
fsr-3458	407	14	a	a	DET
fsr-3458	407	15	home	home	NOUN
fsr-3458	407	16	that	that	PRON
fsr-3458	407	17	is	be	AUX
fsr-3458	407	18	underwater	underwater	NOUN
fsr-3458	407	19	)	)	PUNCT
fsr-3458	407	20	as	as	ADP
fsr-3458	407	21	having	have	VERB
fsr-3458	407	22	a	a	DET
fsr-3458	407	23	zero	zero	NUM
fsr-3458	407	24	value	value	NOUN
fsr-3458	407	25	for	for	ADP
fsr-3458	407	26	net	net	ADJ
fsr-3458	407	27	worth	worth	NOUN
fsr-3458	407	28	.	.	PUNCT
fsr-3458	408	1	references	reference	NOUN
fsr-3458	408	2	bae	bae	PROPN
fsr-3458	408	3	,	,	PUNCT
fsr-3458	408	4	s.	s.	PROPN
fsr-3458	408	5	c.	c.	PROPN
fsr-3458	408	6	,	,	PUNCT
fsr-3458	408	7	&	&	CCONJ
fsr-3458	408	8	sandager	sandager	PROPN
fsr-3458	408	9	,	,	PUNCT
fsr-3458	408	10	j.	j.	PROPN
fsr-3458	408	11	p.	p.	PROPN
fsr-3458	408	12	(	(	PUNCT
fsr-3458	408	13	1997	1997	NUM
fsr-3458	408	14	)	)	PUNCT
fsr-3458	408	15	.	.	PUNCT
fsr-3458	409	1	what	what	PRON
fsr-3458	409	2	consumers	consumer	NOUN
fsr-3458	409	3	look	look	VERB
fsr-3458	409	4	for	for	ADP
fsr-3458	409	5	in	in	ADP
fsr-3458	409	6	financial	financial	ADJ
fsr-3458	409	7	planners	planner	NOUN
fsr-3458	409	8	.	.	PUNCT
fsr-3458	410	1	journal	journal	NOUN
fsr-3458	410	2	of	of	ADP
fsr-3458	410	3	financial	financial	ADJ
fsr-3458	410	4	counseling	counseling	NOUN
fsr-3458	410	5	and	and	CCONJ
fsr-3458	410	6	planning	planning	NOUN
fsr-3458	410	7	,	,	PUNCT
fsr-3458	410	8	8	8	NUM
fsr-3458	410	9	,	,	PUNCT
fsr-3458	410	10	9–16	9–16	NOUN
fsr-3458	410	11	.	.	PUNCT
fsr-3458	411	1	blanchett	blanchett	PROPN
fsr-3458	411	2	,	,	PUNCT
fsr-3458	411	3	d.	d.	PROPN
fsr-3458	411	4	,	,	PUNCT
fsr-3458	411	5	kaplan	kaplan	PROPN
fsr-3458	411	6	,	,	PUNCT
fsr-3458	411	7	p.	p.	PROPN
fsr-3458	411	8	(	(	PUNCT
fsr-3458	411	9	2013	2013	NUM
fsr-3458	411	10	)	)	PUNCT
fsr-3458	411	11	.	.	PUNCT
fsr-3458	412	1	alpha	alpha	NOUN
fsr-3458	412	2	,	,	PUNCT
fsr-3458	412	3	beta	beta	NOUN
fsr-3458	412	4	,	,	PUNCT
fsr-3458	412	5	and	and	CCONJ
fsr-3458	412	6	now	now	ADV
fsr-3458	412	7	.	.	PUNCT
fsr-3458	412	8	.	.	PUNCT
fsr-3458	413	1	.gamma	.gamma	PROPN
fsr-3458	413	2	.	.	PUNCT
fsr-3458	414	1	the	the	DET
fsr-3458	414	2	journal	journal	PROPN
fsr-3458	414	3	of	of	ADP
fsr-3458	414	4	retirement	retirement	NOUN
fsr-3458	414	5	,	,	PUNCT
fsr-3458	414	6	1	1	NUM
fsr-3458	414	7	,	,	PUNCT
fsr-3458	414	8	29–45	29–45	NUM
fsr-3458	414	9	.	.	PUNCT
fsr-3458	415	1	brenner	brenner	PROPN
fsr-3458	415	2	,	,	PUNCT
fsr-3458	415	3	l.	l.	PROPN
fsr-3458	415	4	,	,	PUNCT
fsr-3458	415	5	&	&	CCONJ
fsr-3458	415	6	meyll	meyll	PROPN
fsr-3458	415	7	,	,	PUNCT
fsr-3458	415	8	t.	t.	PROPN
fsr-3458	415	9	(	(	PUNCT
fsr-3458	415	10	2020	2020	NUM
fsr-3458	415	11	)	)	PUNCT
fsr-3458	415	12	.	.	PUNCT
fsr-3458	416	1	robo	robo	NOUN
fsr-3458	416	2	-	-	PUNCT
fsr-3458	416	3	advisors	advisor	NOUN
fsr-3458	416	4	:	:	PUNCT
fsr-3458	416	5	a	a	DET
fsr-3458	416	6	substitute	substitute	NOUN
fsr-3458	416	7	for	for	ADP
fsr-3458	416	8	human	human	ADJ
fsr-3458	416	9	financial	financial	ADJ
fsr-3458	416	10	advice	advice	NOUN
fsr-3458	416	11	.	.	PUNCT
fsr-3458	417	1	journal	journal	NOUN
fsr-3458	417	2	of	of	ADP
fsr-3458	417	3	behavioral	behavioral	ADJ
fsr-3458	417	4	and	and	CCONJ
fsr-3458	417	5	experimental	experimental	ADJ
fsr-3458	417	6	finance	finance	NOUN
fsr-3458	417	7	,	,	PUNCT
fsr-3458	417	8	25	25	NUM
fsr-3458	417	9	,	,	PUNCT
fsr-3458	417	10	100275–100278	100275–100278	NUM
fsr-3458	417	11	.	.	PUNCT
fsr-3458	418	1	cheng	cheng	PROPN
fsr-3458	418	2	,	,	PUNCT
fsr-3458	418	3	y.	y.	PROPN
fsr-3458	418	4	,	,	PUNCT
fsr-3458	418	5	&	&	CCONJ
fsr-3458	418	6	kalenkosi	kalenkosi	PROPN
fsr-3458	418	7	,	,	PUNCT
fsr-3458	418	8	c.	c.	PROPN
fsr-3458	418	9	m.	m.	NOUN
fsr-3458	418	10	(	(	PUNCT
fsr-3458	418	11	2018	2018	NUM
fsr-3458	418	12	)	)	PUNCT
fsr-3458	418	13	.	.	PUNCT
fsr-3458	419	1	lost	lose	VERB
fsr-3458	419	2	in	in	ADP
fsr-3458	419	3	fees	fee	NOUN
fsr-3458	419	4	;	;	PUNCT
fsr-3458	419	5	an	an	DET
fsr-3458	419	6	analysis	analysis	NOUN
fsr-3458	419	7	of	of	ADP
fsr-3458	419	8	financial	financial	ADJ
fsr-3458	419	9	planning	planning	NOUN
fsr-3458	419	10	compensation	compensation	NOUN
fsr-3458	419	11	.	.	PUNCT
fsr-3458	420	1	journal	journal	PROPN
fsr-3458	420	2	of	of	ADP
fsr-3458	420	3	wealth	wealth	NOUN
fsr-3458	420	4	management	management	NOUN
fsr-3458	420	5	,	,	PUNCT
fsr-3458	420	6	spring	spring	NOUN
fsr-3458	420	7	,	,	PUNCT
fsr-3458	420	8	46–54	46–54	PROPN
fsr-3458	420	9	.	.	PUNCT
fsr-3458	421	1	egan	egan	PROPN
fsr-3458	421	2	,	,	PUNCT
fsr-3458	421	3	m.	m.	NOUN
fsr-3458	421	4	(	(	PUNCT
fsr-3458	421	5	2019	2019	NUM
fsr-3458	421	6	)	)	PUNCT
fsr-3458	421	7	.	.	PUNCT
fsr-3458	422	1	brokers	broker	NOUN
fsr-3458	422	2	versus	versus	ADP
fsr-3458	422	3	retail	retail	ADJ
fsr-3458	422	4	investors	investor	NOUN
fsr-3458	422	5	:	:	PUNCT
fsr-3458	422	6	conflicting	conflict	VERB
fsr-3458	422	7	interests	interest	NOUN
fsr-3458	422	8	and	and	CCONJ
fsr-3458	422	9	dominated	dominate	VERB
fsr-3458	422	10	products	product	NOUN
fsr-3458	422	11	.	.	PUNCT
fsr-3458	423	1	the	the	DET
fsr-3458	423	2	journal	journal	PROPN
fsr-3458	423	3	of	of	ADP
fsr-3458	423	4	finance	finance	NOUN
fsr-3458	423	5	,	,	PUNCT
fsr-3458	423	6	74	74	NUM
fsr-3458	423	7	,	,	PUNCT
fsr-3458	423	8	1217–1260	1217–1260	NUM
fsr-3458	423	9	.	.	PUNCT
fsr-3458	424	1	fama	fama	PROPN
fsr-3458	424	2	,	,	PUNCT
fsr-3458	424	3	e.	e.	PROPN
fsr-3458	424	4	f.	f.	PROPN
fsr-3458	424	5	,	,	PUNCT
fsr-3458	424	6	&	&	CCONJ
fsr-3458	424	7	french	french	PROPN
fsr-3458	424	8	,	,	PUNCT
fsr-3458	424	9	k.	k.	PROPN
fsr-3458	424	10	r.	r.	PROPN
fsr-3458	424	11	(	(	PUNCT
fsr-3458	424	12	2010	2010	NUM
fsr-3458	424	13	)	)	PUNCT
fsr-3458	424	14	.	.	PUNCT
fsr-3458	425	1	luck	luck	NOUN
fsr-3458	425	2	versus	versus	ADP
fsr-3458	425	3	skill	skill	NOUN
fsr-3458	425	4	in	in	ADP
fsr-3458	425	5	the	the	DET
fsr-3458	425	6	cross	cross	NOUN
fsr-3458	425	7	-	-	NOUN
fsr-3458	425	8	section	section	NOUN
fsr-3458	425	9	of	of	ADP
fsr-3458	425	10	mutual	mutual	ADJ
fsr-3458	425	11	fund	fund	NOUN
fsr-3458	425	12	returns	return	NOUN
fsr-3458	425	13	.	.	PUNCT
fsr-3458	426	1	the	the	DET
fsr-3458	426	2	journal	journal	PROPN
fsr-3458	426	3	of	of	ADP
fsr-3458	426	4	finance	finance	NOUN
fsr-3458	426	5	,	,	PUNCT
fsr-3458	426	6	65	65	NUM
fsr-3458	426	7	,	,	PUNCT
fsr-3458	426	8	1915–1947	1915–1947	NUM
fsr-3458	426	9	.	.	PUNCT
fsr-3458	427	1	finke	finke	PROPN
fsr-3458	427	2	,	,	PUNCT
fsr-3458	427	3	m.	m.	NOUN
fsr-3458	427	4	s.	s.	PROPN
fsr-3458	427	5	,	,	PUNCT
fsr-3458	427	6	huston	huston	PROPN
fsr-3458	427	7	,	,	PUNCT
fsr-3458	427	8	s.	s.	PROPN
fsr-3458	427	9	j.	j.	PROPN
fsr-3458	427	10	,	,	PUNCT
fsr-3458	427	11	&	&	CCONJ
fsr-3458	427	12	winchester	winchester	PROPN
fsr-3458	427	13	,	,	PUNCT
fsr-3458	427	14	d.	d.	PROPN
fsr-3458	427	15	d.	d.	PROPN
fsr-3458	427	16	(	(	PUNCT
fsr-3458	427	17	2011	2011	NUM
fsr-3458	427	18	)	)	PUNCT
fsr-3458	427	19	.	.	PUNCT
fsr-3458	428	1	financial	financial	ADJ
fsr-3458	428	2	advice	advice	NOUN
fsr-3458	428	3	:	:	PUNCT
fsr-3458	428	4	who	who	PRON
fsr-3458	428	5	pays	pay	VERB
fsr-3458	428	6	.	.	PUNCT
fsr-3458	429	1	journal	journal	PROPN
fsr-3458	429	2	of	of	ADP
fsr-3458	429	3	financial	financial	ADJ
fsr-3458	429	4	counseling	counseling	NOUN
fsr-3458	429	5	and	and	CCONJ
fsr-3458	429	6	planning	planning	NOUN
fsr-3458	429	7	,	,	PUNCT
fsr-3458	429	8	22	22	NUM
fsr-3458	429	9	,	,	PUNCT
fsr-3458	429	10	18–26	18–26	NUM
fsr-3458	429	11	.	.	PUNCT
fsr-3458	430	1	haslem	haslem	PROPN
fsr-3458	430	2	,	,	PUNCT
fsr-3458	430	3	j.	j.	PROPN
fsr-3458	430	4	a.	a.	PROPN
fsr-3458	430	5	(	(	PUNCT
fsr-3458	430	6	2010	2010	NUM
fsr-3458	430	7	)	)	PUNCT
fsr-3458	430	8	.	.	PUNCT
fsr-3458	431	1	the	the	DET
fsr-3458	431	2	new	new	ADJ
fsr-3458	431	3	reality	reality	NOUN
fsr-3458	431	4	of	of	ADP
fsr-3458	431	5	financial	financial	ADJ
fsr-3458	431	6	advisors	advisor	NOUN
fsr-3458	431	7	and	and	CCONJ
fsr-3458	431	8	investors	investor	NOUN
fsr-3458	431	9	.	.	PUNCT
fsr-3458	432	1	the	the	DET
fsr-3458	432	2	journal	journal	NOUN
fsr-3458	432	3	of	of	ADP
fsr-3458	432	4	investing	investing	NOUN
fsr-3458	432	5	,	,	PUNCT
fsr-3458	432	6	19	19	NUM
fsr-3458	432	7	,	,	PUNCT
fsr-3458	432	8	23–30	23–30	NUM
fsr-3458	432	9	.	.	PUNCT
fsr-3458	433	1	hoechle	hoechle	PROPN
fsr-3458	433	2	,	,	PUNCT
fsr-3458	433	3	d.	d.	PROPN
fsr-3458	433	4	,	,	PUNCT
fsr-3458	433	5	ruenzi	ruenzi	PROPN
fsr-3458	433	6	,	,	PUNCT
fsr-3458	433	7	s.	s.	PROPN
fsr-3458	433	8	,	,	PUNCT
fsr-3458	433	9	schaub	schaub	PROPN
fsr-3458	433	10	,	,	PUNCT
fsr-3458	433	11	n.	n.	NOUN
fsr-3458	433	12	,	,	PUNCT
fsr-3458	433	13	&	&	CCONJ
fsr-3458	433	14	schmid	schmid	PROPN
fsr-3458	433	15	,	,	PUNCT
fsr-3458	433	16	m.	m.	NOUN
fsr-3458	433	17	(	(	PUNCT
fsr-3458	433	18	2018	2018	NUM
fsr-3458	433	19	)	)	PUNCT
fsr-3458	433	20	.	.	PUNCT
fsr-3458	434	1	financial	financial	ADJ
fsr-3458	434	2	advice	advice	NOUN
fsr-3458	434	3	and	and	CCONJ
fsr-3458	434	4	bank	bank	NOUN
fsr-3458	434	5	profits	profit	NOUN
fsr-3458	434	6	.	.	PUNCT
fsr-3458	435	1	the	the	DET
fsr-3458	435	2	review	review	NOUN
fsr-3458	435	3	of	of	ADP
fsr-3458	435	4	financial	financial	ADJ
fsr-3458	435	5	studies	study	NOUN
fsr-3458	435	6	,	,	PUNCT
fsr-3458	435	7	31	31	NUM
fsr-3458	435	8	,	,	PUNCT
fsr-3458	435	9	4447–4492	4447–4492	NUM
fsr-3458	435	10	.	.	PUNCT
fsr-3458	436	1	kitces	kitce	NOUN
fsr-3458	436	2	,	,	PUNCT
fsr-3458	436	3	m.	m.	PROPN
fsr-3458	436	4	e.	e.	PROPN
fsr-3458	436	5	(	(	PUNCT
fsr-3458	436	6	2013	2013	NUM
fsr-3458	436	7	)	)	PUNCT
fsr-3458	436	8	.	.	PUNCT
fsr-3458	437	1	a	a	DET
fsr-3458	437	2	‘	'	PUNCT
fsr-3458	437	3	new	new	ADJ
fsr-3458	437	4	normal	normal	ADJ
fsr-3458	437	5	’	'	PUNCT
fsr-3458	437	6	look	look	NOUN
fsr-3458	437	7	at	at	ADP
fsr-3458	437	8	practice	practice	NOUN
fsr-3458	437	9	growth	growth	NOUN
fsr-3458	437	10	.	.	PUNCT
fsr-3458	438	1	journal	journal	NOUN
fsr-3458	438	2	of	of	ADP
fsr-3458	438	3	financial	financial	ADJ
fsr-3458	438	4	planning	planning	NOUN
fsr-3458	438	5	,	,	PUNCT
fsr-3458	438	6	26	26	NUM
fsr-3458	438	7	,	,	PUNCT
fsr-3458	438	8	16	16	NUM
fsr-3458	438	9	.	.	PUNCT
fsr-3458	439	1	kitces	kitce	NOUN
fsr-3458	439	2	,	,	PUNCT
fsr-3458	439	3	m.	m.	PROPN
fsr-3458	439	4	e.	e.	PROPN
fsr-3458	439	5	(	(	PUNCT
fsr-3458	439	6	2017	2017	NUM
fsr-3458	439	7	)	)	PUNCT
fsr-3458	439	8	.	.	PUNCT
fsr-3458	440	1	financial	financial	ADJ
fsr-3458	440	2	advisor	advisor	PROPN
fsr-3458	440	3	fees	fee	NOUN
fsr-3458	440	4	comparison	comparison	NOUN
fsr-3458	440	5	–	–	PUNCT
fsr-3458	440	6	all	all	ADV
fsr-3458	440	7	-	-	PUNCT
fsr-3458	440	8	in	in	ADP
fsr-3458	440	9	costs	cost	NOUN
fsr-3458	440	10	for	for	ADP
fsr-3458	440	11	the	the	DET
fsr-3458	440	12	typical	typical	ADJ
fsr-3458	440	13	financial	financial	ADJ
fsr-3458	440	14	advisor	advisor	NOUN
fsr-3458	440	15	?	?	PUNCT
fsr-3458	440	16	available	available	ADJ
fsr-3458	440	17	at	at	ADP
fsr-3458	440	18	www.kitces.com	www.kitces.com	PROPN
fsr-3458	440	19	lahtinen	lahtinen	PROPN
fsr-3458	440	20	,	,	PUNCT
fsr-3458	440	21	k.	k.	PROPN
fsr-3458	440	22	d.	d.	PROPN
fsr-3458	440	23	,	,	PUNCT
fsr-3458	440	24	&	&	CCONJ
fsr-3458	440	25	shipe	shipe	PROPN
fsr-3458	440	26	,	,	PUNCT
fsr-3458	440	27	s.	s.	PROPN
fsr-3458	440	28	(	(	PUNCT
fsr-3458	440	29	2018	2018	NUM
fsr-3458	440	30	)	)	PUNCT
fsr-3458	440	31	.	.	PUNCT
fsr-3458	441	1	compensation	compensation	NOUN
fsr-3458	441	2	of	of	ADP
fsr-3458	441	3	investment	investment	NOUN
fsr-3458	441	4	advisors	advisor	NOUN
fsr-3458	441	5	.	.	PUNCT
fsr-3458	442	1	the	the	DET
fsr-3458	442	2	journal	journal	NOUN
fsr-3458	442	3	of	of	ADP
fsr-3458	442	4	investing	investing	NOUN
fsr-3458	442	5	,	,	PUNCT
fsr-3458	442	6	27	27	NUM
fsr-3458	442	7	,	,	PUNCT
fsr-3458	442	8	80–86	80–86	NUM
fsr-3458	442	9	.	.	PUNCT
fsr-3458	443	1	244	244	NUM
fsr-3458	443	2	s.	s.	PROPN
fsr-3458	443	3	p.	p.	PROPN
fsr-3458	443	4	fraser	fraser	PROPN
fsr-3458	443	5	et	et	PROPN
fsr-3458	443	6	al	al	PROPN
fsr-3458	443	7	.	.	PUNCT
fsr-3458	443	8	/	/	SYM
fsr-3458	443	9	financial	financial	ADJ
fsr-3458	443	10	services	service	NOUN
fsr-3458	443	11	review	review	VERB
fsr-3458	443	12	29	29	NUM
fsr-3458	443	13	(	(	PUNCT
fsr-3458	443	14	2021	2021	NUM
fsr-3458	443	15	)	)	PUNCT
fsr-3458	443	16	227–245	227–245	NUM
fsr-3458	443	17	mackillop	mackillop	NOUN
fsr-3458	443	18	,	,	PUNCT
fsr-3458	443	19	s.	s.	PROPN
fsr-3458	443	20	(	(	PUNCT
fsr-3458	443	21	2017	2017	NUM
fsr-3458	443	22	)	)	PUNCT
fsr-3458	443	23	.	.	PUNCT
fsr-3458	444	1	it	it	PRON
fsr-3458	444	2	’s	’	VERB
fsr-3458	444	3	time	time	NOUN
fsr-3458	444	4	to	to	PART
fsr-3458	444	5	reexamine	reexamine	VERB
fsr-3458	444	6	your	your	PRON
fsr-3458	444	7	fee	fee	NOUN
fsr-3458	444	8	schedule	schedule	NOUN
fsr-3458	444	9	.	.	PUNCT
fsr-3458	445	1	journal	journal	NOUN
fsr-3458	445	2	of	of	ADP
fsr-3458	445	3	financial	financial	ADJ
fsr-3458	445	4	planning	planning	NOUN
fsr-3458	445	5	,	,	PUNCT
fsr-3458	445	6	30	30	NUM
fsr-3458	445	7	,	,	PUNCT
fsr-3458	445	8	34	34	NUM
fsr-3458	445	9	.	.	PUNCT
fsr-3458	446	1	mazzoli	mazzoli	PROPN
fsr-3458	446	2	,	,	PUNCT
fsr-3458	446	3	c.	c.	PROPN
fsr-3458	446	4	,	,	PUNCT
fsr-3458	446	5	&	&	CCONJ
fsr-3458	446	6	nicolini	nicolini	PROPN
fsr-3458	446	7	,	,	PUNCT
fsr-3458	446	8	g.	g.	PROPN
fsr-3458	446	9	(	(	PUNCT
fsr-3458	446	10	2010	2010	NUM
fsr-3458	446	11	)	)	PUNCT
fsr-3458	446	12	.	.	PUNCT
fsr-3458	447	1	to	to	PART
fsr-3458	447	2	fee	fee	VERB
fsr-3458	447	3	or	or	CCONJ
fsr-3458	447	4	not	not	PART
fsr-3458	447	5	to	to	PART
fsr-3458	447	6	fee	fee	VERB
fsr-3458	447	7	:	:	PUNCT
fsr-3458	447	8	pricing	pricing	NOUN
fsr-3458	447	9	policies	policy	NOUN
fsr-3458	447	10	in	in	ADP
fsr-3458	447	11	financial	financial	ADJ
fsr-3458	447	12	counseling	counseling	NOUN
fsr-3458	447	13	.	.	PUNCT
fsr-3458	448	1	financial	financial	ADJ
fsr-3458	448	2	services	service	NOUN
fsr-3458	448	3	review	review	PROPN
fsr-3458	448	4	,	,	PUNCT
fsr-3458	448	5	19	19	NUM
fsr-3458	448	6	,	,	PUNCT
fsr-3458	448	7	307–322	307–322	NUM
fsr-3458	448	8	.	.	PUNCT
fsr-3458	449	1	opiela	opiela	ADV
fsr-3458	449	2	,	,	PUNCT
fsr-3458	449	3	n.	n.	PROPN
fsr-3458	449	4	(	(	PUNCT
fsr-3458	449	5	2006	2006	NUM
fsr-3458	449	6	)	)	PUNCT
fsr-3458	449	7	.	.	PUNCT
fsr-3458	450	1	the	the	DET
fsr-3458	450	2	future	future	NOUN
fsr-3458	450	3	of	of	ADP
fsr-3458	450	4	fees	fee	NOUN
fsr-3458	450	5	.	.	PUNCT
fsr-3458	451	1	journal	journal	NOUN
fsr-3458	451	2	of	of	ADP
fsr-3458	451	3	financial	financial	ADJ
fsr-3458	451	4	planning	planning	NOUN
fsr-3458	451	5	,	,	PUNCT
fsr-3458	451	6	19	19	NUM
fsr-3458	451	7	,	,	PUNCT
fsr-3458	451	8	24–31	24–31	NUM
fsr-3458	451	9	.	.	PUNCT
fsr-3458	452	1	seay	seay	PROPN
fsr-3458	452	2	,	,	PUNCT
fsr-3458	452	3	m.	m.	PROPN
fsr-3458	452	4	c.	c.	PROPN
fsr-3458	452	5	,	,	PUNCT
fsr-3458	452	6	anderson	anderson	PROPN
fsr-3458	452	7	,	,	PUNCT
fsr-3458	452	8	s.	s.	PROPN
fsr-3458	452	9	g.	g.	PROPN
fsr-3458	452	10	,	,	PUNCT
fsr-3458	452	11	lawson	lawson	PROPN
fsr-3458	452	12	,	,	PUNCT
fsr-3458	452	13	d.	d.	PROPN
fsr-3458	452	14	r.	r.	PROPN
fsr-3458	452	15	,	,	PUNCT
fsr-3458	452	16	&	&	CCONJ
fsr-3458	452	17	kim	kim	PROPN
fsr-3458	452	18	,	,	PUNCT
fsr-3458	452	19	k.	k.	PROPN
fsr-3458	452	20	t.	t.	PROPN
fsr-3458	452	21	(	(	PUNCT
fsr-3458	452	22	2017	2017	NUM
fsr-3458	452	23	)	)	PUNCT
fsr-3458	452	24	.	.	PUNCT
fsr-3458	453	1	identifying	identify	VERB
fsr-3458	453	2	variation	variation	NOUN
fsr-3458	453	3	in	in	ADP
fsr-3458	453	4	client	client	NOUN
fsr-3458	453	5	characteristics	characteristic	NOUN
fsr-3458	453	6	between	between	ADP
fsr-3458	453	7	financial	financial	ADJ
fsr-3458	453	8	planning	planning	NOUN
fsr-3458	453	9	compensation	compensation	NOUN
fsr-3458	453	10	models	model	NOUN
fsr-3458	453	11	.	.	PUNCT
fsr-3458	454	1	journal	journal	NOUN
fsr-3458	454	2	of	of	ADP
fsr-3458	454	3	financial	financial	ADJ
fsr-3458	454	4	planning	planning	NOUN
fsr-3458	454	5	,	,	PUNCT
fsr-3458	454	6	30	30	NUM
fsr-3458	454	7	,	,	PUNCT
fsr-3458	454	8	40–51	40–51	NUM
fsr-3458	454	9	.	.	PUNCT
fsr-3458	454	10	sec	sec	PROPN
fsr-3458	454	11	.	.	PUNCT
fsr-3458	455	1	(	(	PUNCT
fsr-3458	455	2	2014	2014	NUM
fsr-3458	455	3	)	)	PUNCT
fsr-3458	455	4	.	.	PUNCT
fsr-3458	456	1	how	how	SCONJ
fsr-3458	456	2	fees	fee	NOUN
fsr-3458	456	3	and	and	CCONJ
fsr-3458	456	4	expenses	expense	NOUN
fsr-3458	456	5	affect	affect	VERB
fsr-3458	456	6	your	your	PRON
fsr-3458	456	7	investment	investment	NOUN
fsr-3458	456	8	portfolio	portfolio	NOUN
fsr-3458	456	9	.	.	PUNCT
fsr-3458	457	1	investor	investor	NOUN
fsr-3458	457	2	bulletin	bulletin	NOUN
fsr-3458	457	3	–	–	PUNCT
fsr-3458	457	4	security	security	NOUN
fsr-3458	457	5	and	and	CCONJ
fsr-3458	457	6	exchange	exchange	PROPN
fsr-3458	457	7	commission	commission	PROPN
fsr-3458	457	8	’s	’s	PART
fsr-3458	457	9	office	office	NOUN
fsr-3458	457	10	of	of	ADP
fsr-3458	457	11	investor	investor	NOUN
fsr-3458	457	12	education	education	NOUN
fsr-3458	457	13	,	,	PUNCT
fsr-3458	457	14	pub	pub	NOUN
fsr-3458	457	15	.	.	PUNCT
fsr-3458	458	1	no	no	INTJ
fsr-3458	458	2	.	.	NOUN
fsr-3458	458	3	164	164	NUM
fsr-3458	458	4	.	.	PUNCT
fsr-3458	459	1	statman	statman	NOUN
fsr-3458	459	2	,	,	PUNCT
fsr-3458	459	3	m.	m.	NOUN
fsr-3458	459	4	(	(	PUNCT
fsr-3458	459	5	2000	2000	NUM
fsr-3458	459	6	)	)	PUNCT
fsr-3458	459	7	.	.	PUNCT
fsr-3458	460	1	the	the	DET
fsr-3458	460	2	93.6	93.6	NUM
fsr-3458	460	3	%	%	NOUN
fsr-3458	460	4	question	question	NOUN
fsr-3458	460	5	of	of	ADP
fsr-3458	460	6	financial	financial	ADJ
fsr-3458	460	7	advisors	advisor	NOUN
fsr-3458	460	8	.	.	PUNCT
fsr-3458	461	1	the	the	DET
fsr-3458	461	2	journal	journal	NOUN
fsr-3458	461	3	of	of	ADP
fsr-3458	461	4	investing	investing	NOUN
fsr-3458	461	5	,	,	PUNCT
fsr-3458	461	6	9	9	NUM
fsr-3458	461	7	,	,	PUNCT
fsr-3458	461	8	16–20	16–20	NUM
fsr-3458	461	9	.	.	PUNCT
fsr-3458	462	1	uhl	uhl	PROPN
fsr-3458	462	2	,	,	PUNCT
fsr-3458	462	3	m.	m.	PROPN
fsr-3458	462	4	w.	w.	PROPN
fsr-3458	462	5	,	,	PUNCT
fsr-3458	462	6	&	&	CCONJ
fsr-3458	462	7	rohner	rohner	PROPN
fsr-3458	462	8	,	,	PUNCT
fsr-3458	462	9	p.	p.	NOUN
fsr-3458	462	10	(	(	PUNCT
fsr-3458	462	11	2018	2018	NUM
fsr-3458	462	12	)	)	PUNCT
fsr-3458	462	13	.	.	PUNCT
fsr-3458	463	1	robo	robo	NOUN
fsr-3458	463	2	-	-	PUNCT
fsr-3458	463	3	advisors	advisor	NOUN
fsr-3458	463	4	versus	versus	ADP
fsr-3458	463	5	traditional	traditional	ADJ
fsr-3458	463	6	investment	investment	NOUN
fsr-3458	463	7	advisors	advisor	NOUN
fsr-3458	463	8	:	:	PUNCT
fsr-3458	463	9	an	an	DET
fsr-3458	463	10	unequal	unequal	ADJ
fsr-3458	463	11	game	game	NOUN
fsr-3458	463	12	.	.	PUNCT
fsr-3458	464	1	the	the	DET
fsr-3458	464	2	journal	journal	NOUN
fsr-3458	464	3	of	of	ADP
fsr-3458	464	4	wealth	wealth	NOUN
fsr-3458	464	5	management	management	NOUN
fsr-3458	464	6	,	,	PUNCT
fsr-3458	464	7	21	21	NUM
fsr-3458	464	8	,	,	PUNCT
fsr-3458	464	9	44–50	44–50	NUM
fsr-3458	464	10	.	.	PUNCT
fsr-3458	465	1	s.	s.	PROPN
fsr-3458	465	2	p.	p.	PROPN
fsr-3458	465	3	fraser	fraser	PROPN
fsr-3458	466	1	et	et	PROPN
fsr-3458	466	2	al	al	PROPN
fsr-3458	466	3	.	.	PUNCT
fsr-3458	466	4	/	/	SYM
fsr-3458	466	5	financial	financial	ADJ
fsr-3458	466	6	services	service	NOUN
fsr-3458	466	7	review	review	VERB
fsr-3458	466	8	29	29	NUM
fsr-3458	466	9	(	(	PUNCT
fsr-3458	466	10	2021	2021	NUM
fsr-3458	466	11	)	)	PUNCT
fsr-3458	466	12	227–245	227–245	NUM
fsr-3458	466	13	245	245	NUM