BR Capital Advisors LLC

Item 5 - Fees and Compensation
DESCRIPTION OF COMPENSATION AND BASIC FEE SCHEDULE
Inveris generally receives asset based advisory fees. In some cases, Inverismay charge a
performance fee to discretionary clients who choose the option to pay performance based
compensation as further described in Item 6, Performance Based Compensation. Performance
based compensation may only be charged to discretionary Clients. The specific manner in
which fees are charged by Inverisis established in each Agreement. At this time, Inveris does
not have any Performance Based arrangements.
Advisory fee compensation is derived as fee income based upon the percentage of assets under
management. The annualized advisory fee is based on the following fee schedules:

Non-Discretionary Client Fee

    Annual Management Fee       Assets Under Management

            1.00%                     Up to $1mm

            0.90 %                 $1mm up to $5mm

            0.75 %                 $5mm up to $15mm

            0.65 %                 $15mm up to $25mm

          Negotiable                 Above $25mm

Discretionary Client Fee
All discretionary accounts are subject to an annual advisory fee of 1.00% on Assets Under
Management. Discretionary accounts are generally managed by Third Party Portfolio
Managers, selected and engaged by Inveris as sub-advisors to the client’s portfolio. Inveris will
compensate the TPPM directly from the advisory fee paid by the client. Advisory fees are
payable quarterly, in arrears, based on the value of assets under management as of the last
day of each calendar quarter (adjusted for contributions and withdrawals made during the
quarter). Investment advisory services begin on the effective date of the Agreement. If the
Agreement for services is executed at any time other than the first day of a calendar month,
our fees will apply on a pro-rata basis. Inveris may, in its discretion, waive or reduce the
management fee with respect to any Client.               Our fees are negotiable; therefore,
arrangements with existing clients may differ. In all such cases, the relevant fees and terms of
payments will be clearly set forth in the Agreement.

In most cases, we will deduct our fee directly from your designated custodial account through
the qualified custodian holding your funds and securities. We will deduct our advisory fee only
when (1) you have given our firm a written authorization permitting the fees to be paid
directly from your account and (2) the qualified custodian has agreed to deliver an account
statement to you at least quarterly. These account statements will show all the disbursements
from your account, including the amount of any advisory fees paid directly to our firm. You
should review all statements for accuracy. We will also receive a duplicate copy of your
account statements. Refer to the Brokerage Practices section below for additional disclosures.

In certain cases, and based on restrictions imposed by some custodians, including Interactive
Brokers, the firm may deduct or bill, as applicable, advisory fees quarterly in arrears. As a
result, clients with multiple accounts under management may have different fee schedules
deduction/invoicing periods.

A.     OTHER FEES AND PAYMENT OF FEES
In addition to, and exclusive of, our investment advisory fees disclosed above, you will also be
charged brokerage commissions, transaction fees, custodian fees and custodian charges, and
other costs and expenses related to your investment account and securities transactions,
including but not limited to account aggregation and reporting (provided by a third-party
vendor, Addepar Inc., through your custodian). These transaction charges are paid to, and
retained by, the account custodian for its clearance and execution services. We do not receive
any portion of these commissions, fees, or costs.
As part of our investment advisory services to you, and depending on your investment profile,
we will invest, or recommend that you invest, in shares of registered investment companies,
exchange traded funds ("ETFs"), hedge funds, and/or other specialty investments. You should
be aware that such companies/investments typically assess a management fee to investors and,
in certain cases, charge administrative, service and/or other fees, including performance fees.
Any fees paid to such companies, or their affiliates are separate and in addition to our advisory
fees, which are disclosed in a fund’s prospectus.
Clients should therefore be aware that they would be paying a higher fee on these assets. To
fully understand the total cost you will incur, you should review all the fees charged by our
Firm, mutual funds, exchange trade funds, and others.
B.     REFUND AND TERMINATION POLICY

Our agreement for services will continue in effect until terminated by either party. You may
terminate the Agreement upon written notice to our Firm, and you are responsible for payment
of services rendered until such time. You will incur a pro-rata charge for services rendered prior
to the termination of the Agreement, which means you will incur advisory fees only in
proportion to the number of days in the month for which you are a Client.

You may cancel the Agreement without penalty within the first five days of signing the
Agreement. Inveris does not require the prepayment of fees. As such, Inveris does not refund
fees upon termination of the Agreement.
E.     Selection of Other Advisers

Assets managed by TPMMs will be included in calculating our advisory fee, which is based on
the fee schedule set forth in the Portfolio Management Services section in this brochure. Sub-
Advisory fees that we pay to the TPMM are established and payable in accordance with the
sub-advisory agreement between Inveris and each TPMM.

Item 6 - Performance-based Compensation & Side-by-Side Management

A.      PERFORMANCE-BASED COMPENSATION
Performance-based compensation may create an incentive for the advisor to recommend an
...

Item 7 - Types of Clients

Inveris offers discretionary and non-discretionary investment advisory services to domestic and
foreign high net worth individuals, trusts, family offices, institutional and corporate clients.
In general, we require a minimum of $1 million to open and maintain an advisory account. At
our discretion, we may waive this minimum account size. For example, we may waive the
minimum if your account is part of a large relationship, or if you will be bringing additional
assets under our management to meet our minimum.
 Inveris may also combine account values for you and your minor children, joint accounts with
your spouse, and other types of related accounts to meet the stated minimum.