Item 5. Fees and Compensation
Altium offers services on a fee basis, which include fixed and/or hourly fees, as well as fees based upon
assets under management or advisement depending on the client engagement.
Financial Planning and Consulting Fees
Altium generally charges a fixed and/or hourly fee for providing financial planning and consulting services
under a stand-alone engagement and administrative support. For one-time project-based financial planning
and consulting services, these fees are negotiable, but generally range from $5,000 to $25,000 on a fixed
fee basis and/or from $150 to $750 on an hourly basis, depending upon the scope and complexity of the
services and the professional rendering the financial planning and/or the consulting services. For ongoing
financial planning and consulting services, the fees are also negotiated but generally range from $2,000 to
$25,000 per year, depending on, among other things, the complexity of the work to be performed and the
professional rendering the financial planning or consulting services.
The terms and conditions of the financial planning and/or consulting engagement are set forth in the
Advisory Agreement and Altium generally collects the fees (estimated hourly or fixed) payable upon
execution of the Advisory Agreement or completion of the agreed upon services.
Investment Management Fees
Altium offers investment management services for an annual fee based on the fair market value of assets
under management. This annual fee includes a base investment management fee (“Base Advisory Fee”),
as well as potentially one or more strategy-specific management fee(s) which vary according to the
particular investment strategy being employed by Altium (“Strategy Fees”).
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Disclosure Brochure Altium Wealth Management
The Base Advisory Fee is generally based on the following blended fee schedule:
PORTFOLIO VALUE BASE ADVISORY FEE
First $1,000,000 1.25%
Next $4,000,000 0.75%
Next $5,000,000 0.50%
Above $10,000,000 0.25%
The Strategy Fees are 0.20%. For clarity, the Strategy Fees are charged in addition to the Base Advisory
Fee where Altium directly manages client assets within specific strategies, rather than delegating active
management of these specific strategies to one or more Independent Managers. Where the Firm delegates
active management to Independent Managers, clients will incur additional fees associated with the
Independent Managers, as set forth below.
Base Advisory Fee and Strategy Fees may vary from the standard schedule(s) due to particular
circumstances of the client or as otherwise negotiated. In addition, for certain clients, Altium’s Base
Advisory Fee is a negotiated fixed percentage of the market value of the assets being managed.
Additionally, for asset management services the Firm provides with respect to certain client holdings (e.g.,
held-away assets, accommodation accounts, alternative investments, etc.), Altium may negotiate a fee rate
that differs from the range set forth above.
The annual fee is prorated and charged monthly or quarterly, in arrears, based upon either (1) the market
value of the assets being managed by Altium on the last day of the previous billing period or (2) the average
daily market value of the assets being managed by Altium during the last billing period.
Clients are advised that a conflict of interest exists for the Firm to recommend that clients engage Altium
for additional services for compensation, including rolling over retirement accounts or moving other assets
to the Firm’s management. In addition, the Firm has an incentive to recommend that it directly manage
the client assets so it receives the Strategy Fees. The Firm only recommends direct management when it
is in the client’s best interest. Clients retain absolute discretion over all decisions regarding engaging the
Firm and are under no obligation to act upon any of the recommendations.
Retirement Plan Consulting Fees
Altium generally charges a fixed project-based fee to provide clients with retirement plan consulting
services. Each engagement is individually negotiated and tailored to accommodate the needs of the
individual plan sponsor as memorialized in the Agreement. These fees vary, based on the scope of the
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Disclosure Brochure Altium Wealth Management
services to be rendered. In those situations where Altium has agreed to manage a plan’s assets, the Firm
may also charge an annual asset-based fee depending upon the amount of assets to be managed.
Fee Discretion
Altium 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.
Additional Fees and Expenses
In addition to the advisory fees paid to Altium, clients also incur certain charges imposed by other third
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