The ARC Fair Fee Formula provides a framework for any private client investor to assess whether the cost of investment levied by a DFM is fair and reasonable. The Fair Fee Formula is simple in construct and recognises that price and value are different. A fair fee is not the same as a low fee. A fair fee ensures that the provider of a service receives remuneration for the services rendered that the recipient of those services deems to be reasonable. To paraphrase Aristotle, the investor is best placed to judge the value of services rendered.