Item 5 Fees and Compensation
Portfolio Management Services
Argentarii’s management fees are negotiable and will vary depending upon factors such as the type of
Client Account, a Client’s relationship with the Firm, the size and complexity of assets being managed, and
the investment strategies being employed by the Firm. Portfolio Management Services clients will be
charged an annual management fee not exceeding 1% of assets under management.
Portfolio management fees are generally payable monthly, in arrears, based on the average daily balance
of the account(s) during the period. If the portfolio management agreement is executed at any time other
than the first day of a calendar month, our fees will apply on a pro rata basis, which means that the advisory
fee is payable in proportion to the number of days in the month for which you are a client. Argentarii’s fee
is deducted directly from your account through the qualified custodian holding your funds and securities.
Advisory fees are deducted only when you have given our firm written authorization permitting the fees to
be paid directly from your account. Further, your qualified custodian will deliver an account statement to
you at least quarterly. These account statements will show all disbursements from your account, including
fees paid to Argentarii for services rendered. You should review all statements for accuracy.
Family Office Services
Family office services are generally provided for a fixed annual retainer fee. The fee will vary, depending
on the scope of services and client needs. Fees are agreed upon in advance in writing. Retainer fees are
typically billed quarterly, in arrears, in equal installments. Investment management services are included in
the family office service fees rendered. Clients may incur separate costs and expenses charged by
custodians or third-party investment managers. These may include brokerage commissions, transaction
charges, custodial fees, mutual fund or exchange-traded fund expense ratios, private investment
subscription costs, and other similar charges. Such costs are not included in our advisory fees and are
borne directly by the client.
SMA Programs
Clients participating in SMA programs will have an additional advisory fee charged separately by the SMA
adviser. The additional fee for any SMA program available will not exceed 0.50% annually. If a client
participates in one of these programs, the client will sign an additional advisory agreement directly with the
adviser of the SMA and the adviser of the SMA will charge their fee directly to the client. As a result, total
advisory fees may exceed those charged for accounts not participating in SMA programs.
GLASFunds
Additional fees and expenses for GLASFunds vary by investment and are discussed in the GLASFunds
agreement signed by the client. They may include but are not limited to platform access fees, fund fees,
and custodial fees. The actual fee amounts and terms of payment are set by GLASFunds and vary by
investment. Refer to the GLASFunds client agreement for more information.
Private Placements
Fees and expenses for private placements recommended by Argentarii are fully disclosed in the offering
memoranda for the applicable investment. The fees typically include an annual advisory fee (Argentarii
fee), plus fees that cover the overhead and administrative expenses incurred by the placement. Some
private placements have performance-based fees, which is discussed further in Item 6. Fees and expenses
vary based on the underlying investment offering. The annual advisory portion of the fee (Argentarii fee) is
charged in addition to underlying fund fees and will not exceed 2% annually. See the applicable private
placement memorandum for more details.
Additional Fees and Expenses
Argentarii may recommend that you invest in mutual funds and exchange traded funds. The fees that you
pay to the Firm for investment advisory services are separate and distinct from the fees and expenses
charged by mutual funds or exchange traded funds (described in each fund's prospectus) to their
shareholders. These fees will generally include a management fee and other fund expenses. You may also
incur transaction charges and/or brokerage fees when purchasing or selling specific types of securities.
These charges and fees are typically imposed by the broker-dealer or custodian through whom your
account transactions are executed. Most of the securities purchases on behalf of our clients have no front-
end load, sales charge, or back-end load. Any security with such charges will be heavily scrutinized before
placing it into a client’s account to ensure that it is the best possible investment for the client's objective.
The Firm does not share in any portion of the brokerage fees/transaction charges imposed by the broker-
dealer or custodian.
Termination of Services
Either Argentarii or the client may terminate the investment advisory agreement at any time, subject to
written notification requirements in the investment advisory agreement. In the event of termination any fees
due to the firm from the client will be invoiced or deducted from the client's account prior to termination.
Rollover Recommendations
As part of Argentarii’s investment advisory services to you, your financial professional may recommend
that you withdraw the assets from your employer's retirement plan and roll the assets over to an individual
retirement account ("IRA") that we will manage on your behalf. If you elect to roll the assets to an IRA that
is subject to our management, you will be charged an asset-based fee as set forth in the agreement
executed with our firm. This practice presents a conflict of interest as our financial professionals have an
incentive to recommend a rollover to you for the purpose of generating fee-based compensation rather
than solely based on your needs. You are under no obligation, contractually or otherwise, to complete the
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