15 Equity LLC

Item 5 – Fees and Compensation
In addition to the information provided in Item 4 – Advisory Business, this section provides details regarding fees
and compensation arrangements.

PRIVATE CLIENT PROGRAM FEES
Annual fees for investment advisory services in the Private Client Program are based on a percentage of assets
under management and can be up to 2.00%, although we retain the discretion to negotiate fees on a client‐by‐
client basis. Advisory fees are payable upon the Firm’s receipt of the assets in the account and are based on
the value of such assets as of the Effective Date of the Client Advisory Agreement (or, if such Effective Date is
not a trading day for the New York Stock Exchange, then on the next following trading day), prorated for the
remainder of the then‐current calendar quarter. Thereafter, the advisory fee is payable quarterly each calendar
quarter and based on the value of assets under management in the client’s account as of the last trading day of
the immediately preceding calendar quarter. Advisory fees for assets invested for partial quarters are prorated
and deducted quarterly, in advance, from the client's account. Pre‐existing clients are billed in accordance with
their client agreements.
You may terminate your advisory agreement at any time upon written notice to the Firm. The advisory agreement
will terminate upon receipt by the Firm of your written notice of termination. If you terminate your agreement,
you will be entitled to a prorated refund of the prepaid Advisory Fee. The fee for the last quarter that the
account(s) is/are managed is calculated on a pro rata basis and a refund is issued for the remainder of the quarter
during which the account(s) is/are not managed. This refund will be paid in arrears at the next quarterly billing

cycle, generally 30 days following the quarter end.

OTHER FEES AND EXPENSES
Fees for asset management services offered through the Private Client Program do not include brokerage
commissions, transaction fees, and other related costs and expenses that may be billed separately by the
custodian of your account, if any. You may incur certain charges imposed by custodians, brokers, third‐party
investment companies, managers, and other parties. These may include annual account fees, custodial fees,
deferred sales charges, partial transfer fees, wire transfer and electronic fund fees, transaction fees mandated
by the Securities Act of 1934, postage and handling fees, and charges imposed by law with regards to
transactions in the client’s account and advisory fees. For fixed‐income securities where the manager must
approach a dealer or market maker to purchase or sell a security, such costs include the dealer’s markup or
markdown, spread and odd‐lot differentials, and transfer taxes imposed by law.
For mutual funds (including money market funds), closed‐end investment companies or other managed
investments, if any, held in the client’s account may include expenses or sales charges (loads) and other fees
and taxes on brokerage accounts and securities transactions. For additional information on brokerage fees,
refer to Item 12, Brokerage Practices.
Mutual funds, money market funds, and exchange‐traded funds (ETFs) also charge internal management fees,
which are disclosed in the fund’s prospectus. These fees may include, but are not limited to, a management fee,
upfront sales charges, and other fund expenses.
All these fees are in addition to the management fee you pay us. You should review all fees charged to fully
understand the total amount of fees you will pay. Services similar to ours may be available elsewhere for more or
less than the amounts we charge.

Item 7 – Types of Clients
We provide asset management services primarily to individuals nearing retirement or already retired with an
investment portfolio typically ranging from $1,000,000 to over $10,000,000 as well as asset management
services to high‐net‐worth individuals, pension plans, trusts, and charitable institutions (such as foundations that
may be connected to our individual clients).

MINIMUM INVESTMENT AMOUNTS REQUIR

Minimum investment amounts are required. Private Client program generally has an investment minimum of
$1,000,000. Exceptions to minimums may be granted at the discretion of the Firm.