Our fees vary by strategy and platform. Detailed fee schedules can be found in the Morningstar Managed Portfolios Program Firm brochure on our Managed Portfolios website or via Morningstar software such as Direct, Advisor Workstation, or Office. Platform (TAMP) fees range from 20 to 55 basis points. Strategist fees are generally lower and vary by platform. Our fees for ETF and Select Equity portfolios have remained consistent over the past several years.
If you look at our Investment Management revenue last year against our average AUM for 2021, it equates to about 25 basis points. That aggregate figure captures our TAMP and strategist fees, along with the mix of assets across our Managed Portfolios strategies.