Fees and Compensation — Form ADV Part 2A (3/4/2022)
[Brochure]
Item 5: Fees and Compensation
7 North does not maintain a basic fee schedule. 7 North may charge clients an investment
management fee and/or a performance-based fee, which are generally negotiated with each client.
The amount and other terms of such fees will be set forth in the investment management agreement
entered into with the client and will vary with each client.
Typically, 7 North’s management fee for providing discretionary management services is based
upon a percentage of the market value of assets under management and will be payable quarterly
in arrears. 7 North may, however, enter into negotiated arrangements where its management fee
will be paid on different terms. Management fees will be prorated for partial periods and clients
will be refunded the balance (if any) of any pre-paid fees.
7 North’s fees for non-discretionary and other services are negotiated on a case-by-case basis with
each client based on the services to be provided.
7 North generally will debit client accounts to pay its fees. In such case, fees typically are charged
directly to the client’s custody account, and a copy of the invoice is sent to the client
contemporaneously with its transmittal to the custodian. In its sole discretion, 7 North may
negotiate alternative payment arrangements with clients.
7 North may waive, rebate, reallocate or reduce its fees for certain clients, in its sole discretion.
Other Fees and Expenses
Clients incur other fees associated with 7 North’s management of their accounts in addition to 7
North’ fees described above. For example, each client’s custodian charges a custodial fee and may
also charge transaction fees or other administrative fees for services it provides. In addition, the
broker-dealers that 7 North selects or recommends to execute transactions in client accounts charge
a spread, commission or transaction fee, as the case may be, that clients are responsible for paying.
More detailed information about our brokerage practices is found below under “Item
Account Minimums and Types of Clients — Form ADV Part 2A (3/4/2022)
[Brochure]
7 North offers investment advisory services to various types of clients, including without
limitation:
• High net worth individuals, their families, family offices and related entities
• Trusts and other fiduciary accounts (such as estates)
• Foundations, charitable and other nonprofit institutions
• Corporations and other institutions
• Mutual Funds and Private Funds
• Taxable and tax-exempt accounts
The conditions for starting and maintaining an account will vary with the circumstances of each
client and be negotiated and set forth in the relevant investment management agreement with the
client. 7 North’s usual target dollar value of assets for starting a client relationship, however, is $5
million, which may include several related accounts. 7 North reserves the right to waive or reduce
any conditions for opening or maintaining an account in its sole discretion.