Item 5 – Fees and Compensation
BCM charges clients an annual fee for investment advisory services based upon a percentage of
the market value of the client’s assets being managed by BCM. BCM’s annual fee is exclusive
of, and in addition to, brokerage commissions, transaction fees, and other related costs and
expenses that the client may incur, including without limitation charges imposed directly by a
mutual fund or exchange -traded fund in the client’s account as disclosed in the fund’s prospectus
(e.g., fund management fees), 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. Such additional fees and expenses are set and assessed by unaffiliated third-parties
(e.g., brokers, custodians, mutual funds), and BCM does not receive any portion of these
commissions, fees, and costs. Additional information about brokerage practices is described
under Item 12.
BCM’s annual fee will be prorated and charged quarterly, in arrears, based upon the market value
of the assets in the client’s account(s) on the last day of the previous quarter. For the initial quarter
of investment management services, the first quarter’s fees will be calculated on a pro rata basis.
The annual fee will vary depending upon the market value of the assets under management as
depicted in the following table:
Portfolio Value Annual Fee
Assets up to $500,000 ............................................. 0.95%
Next $500,000 in assets (up to $1.0 million) .......... 0.76%
Next $500,000 in assets (up to $1.5 million) .......... 0.57%
Next $500,000 in assets (up to $2.0 million) .......... 0.38%
Assets over $2.0 million ..................................... negotiable
*BCM imposes a minimum annual fee of $1,500 per year for all accounts with less than
$150,000 in assets.
Portfolio Value Annual Fee: Non-Fidelity Accounts
Assets up to $500,000 ............................................. 1.20%
Next $500,000 in assets (up to $1.0 million) .......... 1.01%
Next $500,000 in assets (up to $1.5 million) .......... 0.82%
Next $500,000 in assets (up to $2.0 million) .......... 0.63%
Assets over $2.0 million .......................................... 0.43%
BCM, in its sole discretion, may negotiate to charge a lesser management fee or waive its minimum
annual fee (as described in Item 7) based upon certain criteria, including without limitation
anticipated future earning capacity, anticipated future additional assets, dollar amount of assets to
be managed, related accounts, account composition, pre-existing client, account retention, and pro
bono activities.
BCM’s agreement with a client may authorize BCM to debit the client’s account for the amount
of BCM’s fee and to directly remit that management fee to BCM in accordance with applicable
law. The financial institution(s) and custodian(s) recommended to clients by BCM have each
agreed to send a statement to the client, at least quarterly, indicating all amounts disbursed from
the account including the amount of any management fees paid directly to BCM. Clients may
instruct BCM to bill them for services rendered, rather than have fees deducted from their account.