Item 5. Fees and Compensation
ARIS offers services on a fee basis, which includes fees based upon assets under management or
advisement, as well as fixed fees.
Fees
ARIS offers its services for an annual fee based on the amount of assets under the Firm’s management or
advisement. This management fee generally varies in accordance with the following fee schedule:
PORTFOLIO VALUE FEE
Up to $10,000,000 0.60%
$10,000,001 - $50,000,000 0.50%
$50,000,001 - $100,000,000 0.40%
Above $100,000,000 Customized Fee
Alternatively, ARIS may provide its services to certain clients for a fixed fee. These fees are negotiable,
but generally range from $5,000 to $250,000 annually depending upon the amount of assets to be
managed or advised upon, as well as the scope and complexity of the services provided.
The annual fee is prorated and charged quarterly, in advance, based upon the market value of the assets
being managed by ARIS on the last day of the previous billing period.
If assets are deposited into or withdrawn from an account after the inception of a billing period, the fee
payable with respect to such assets is not adjusted to reflect the interim change in portfolio value. For the
initial period of an engagement, the fee is calculated on a pro rata basis. In the event the advisory
agreement is terminated, the fee for the final billing period is prorated through the effective date of the
termination and the outstanding or unearned portion of the fee is charged or refunded to the client, as
appropriate.
Fee Discretion
ARIS may, in its sole discretion, negotiate to charge a lesser fee based upon certain criteria, such as
anticipated future earning capacity, anticipated future additional assets, dollar amount of assets to be
managed, related accounts, account composition, pre-existing/legacy client relationship, account retention
and pro bono activities.
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DISCLOSURE BROCHURE MARCH 29, 2024
Additional Fees and Expenses
In addition to the advisory fees paid to ARIS, clients may also incur certain charges imposed by other
third parties, such as broker-dealers, custodians, trust companies, banks and other financial institutions
(collectively “Financial Institutions”). These additional charges may include securities brokerage
commissions, transaction fees, custodial fees, fees attributable to alternative assets, fees charged by the
Independent Managers, margin costs, charges imposed directly by a mutual fund or ETF in a client’s
account, as disclosed in the fund’s prospectus (e.g., fund management fees and other fund expenses),
deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and electronic fund fees, and
other fees and taxes on brokerage accounts and securities transactions. The Firm’s brokerage practices
are described at length in Item 12, below.
Direct Fee Debit
Many clients are invoiced by ARIS for fees. In certain circumstances, clients can provide ARIS and/or
certain Independent Managers with the authority to directly debit their accounts for payment of the
investment advisory fees. The Financial Institutions that act as the qualified custodian for client accounts,
from which the Firm retains the authority to directly deduct fees, have agreed to send statements to clients
not less than quarterly detailing all account transactions, including any amounts paid to ARIS.
Account Additions and Withdrawals
Clients may make additions to and withdrawals from their account at any time, subject to ARIS’ right to
terminate an account. Additions may be in cash or securities provided that the Firm reserves the right to
liquidate any transferred securities or declines to accept particular securities into a client’s account.
Clients may withdraw account assets on notice to ARIS, subject to the usual and customary securities
settlement procedures. However, the Firm generally designs its portfolios as long-term investments, and
the withdrawal of assets may impair the achievement of a client’s investment objectives. ARIS may
consult with its clients about the options and implications of transferring securities. Clients are advised
that when transferred securities are liquidated, they may be subject to transaction fees, short-term
redemption fees, fees assessed at the mutual fund level (e.g., contingent deferred sales charges) and/or tax
ramifications.
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DISCLOSURE BROCHURE MARCH 29, 2024