ITEM 5: FEES AND COMPENSATION
A. Compensation for Financial Planning Services
As previously noted, when discussed and mutually agreed upon by Adirondack and the client,
Adirondack may provide Financial Planning Services to clients who engage Adirondack for
Investment Management Services. The Firm’s Financial Planning Services is done on a
complimentary basis.
Should a client elect to implement the recommendations contained in their Action Item
Checklist (if applicable), the client will also be subject to fees, expenses, brokerage and
transaction costs as further describedin Item 5.C. Please also refer to Items 5.C. and 12 for more
information on fees clients are responsible for and Adirondack’s brokerage practices.
4853-4507-4458, v. 1
Adirondack Retirement Specialists October 24, 2023
Form ADV Part 2A
B. Compensation for Investment Management Services
For Investment Management Services, Adirondack will charge a quarterly investment
management fee, paid in advance at the beginning of each calendar quarter. The Firm’s fees for
Investment Management Services are based upon a percentage of the client’s assets under
management with Adirondack. Accordingly, for the Firm’s Investment Management Services
clients will pay Adirondack in advance 0.25% per quarter of their account’s assets under
management.
By engaging the Firm to perform Investment Management Services, clients generally authorize
Adirondack to request that the custodian remit payment for Investment Management Services
fees from the client’s account(s). If authorized to do so, Adirondack’s fees will be automatically
deducted from the client’s account by the custodian at the beginning of each calendar quarter.
The amount due is calculated by applying the above quarterly fee percentage to the previous
quarter-end account value(s). For accounts opened after the beginning of a new quarter, fees
will be prorated from the date of engagement to the end of quarter. Under certain conditions
(such as for friends and family of the firm), Adirondack may, at its sole discretion, may waive
its fee. Please Note: As result of the above, similarly situated clients could pay different fees.
ANY QUESTIONS: Adirondack’s Chief Compliance Officer, Sean Berger, remains available
to address any questions that a client or prospective client may have regarding advisory fees.
Adirondack submits information to the custodian as to the amount the client will be billed, which
is deducted by the custodian, and reflected on the client’s custodial statement.
Unless fees are otherwise waived due to the circumstances explained above and noted pursuant
to the client’s Investment Advisory Agreement, Adirondack’s minimum annual fee for
Investment Management Services is $500.
Fee Dispersion. The Firm, in its discretion, may charge a lesser investment advisory fee, waive
its fee entirely, employees and family members, courtesy accounts, etc.). Please Note: As result
of the above, similarly situated clients could pay different fees. In addition, similar advisory
services may be available from other investment advisers for similar or lower fees.
Please Also Note: In the event that the client is subject to an annual minimum fee, the client
could pay a higher percentage fee than referenced above.
C. General Information on Adirondack’s Compensation and Fees
Clients will incur certain fees or charges imposed by third-parties other than Adirondack in
connection with investments or recommendations made by the Firm. These fees and charges are
separate and distinct from the fees or charges stated above and may include, but not be limited
to: mutual fund 12b-1 fees, certain deferred sales charges on previously purchased mutual funds
transferred into the account, other transaction related fees, IRA and Qualified Retirement Plan
fees, “spreads” imposed by brokers and dealers representing implicit transaction costs, and
transfer taxes. Information regarding fees or charges assessed by any mutual funds or exchange
traded fund held in client accounts is available in the appropriate prospectus. Adirondack is not
responsible for, and does not receive any portion of, the fees imposed by such third-parties.
Please note, such fees will differ from client to client based on their own unique situation and
election of products and services.
4853-4507-4458, v. 1
Adirondack Retirement Specialists October 24, 2023
Form ADV Part 2A
As mentioned in Item 4 above, Adirondack’s President, Sean Berger, is a registered
representative of APFS, a broker-dealer registered with the SEC and member of FINRA. In this
capacity, Mr. Berger, in addition to implementing certain financial planning recommendations,
is able to place Investment Management Services’ clients in investment products sold through
APFS and receive a usual and customary commission for doing so. Some such products have
fixed commissions. In this capacity, Mr. Berger spends approximately 1-2 hours per month.
Adirondack and APFS are unaffiliated companies.
Mr. Berger (NYS life, accident and health, variable life and variable annuities license # 739400)
is also a licensed insurance agent with various insurance agencies. As a licensed insurance
agent, Mr. Berger recommends to clients certain insurance products sold through these various
insurance companies. If a client elects to purchase such an insurance product, Mr. Berger will
receive a usual and customary commission for doing so. In this capacity, Mr. Berger spends less
than 1 hour per month.
To the extent that Mr. Berger recommends the purchase of securities, insurance or other
investment products where he receives commissions for doing so (which will only occur in a
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