Item 5. Fees and Compensation
Brite USA charges investment advisory fees (“advisory fees”) at the annual rates shown below,
which are expressed as a percentage of Client assets under management. Advisory fees may be
based on a different applicable currency, as reflected in the Client’s Agreement. Each fee
category is separate.
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International Pension Schemes
Client Assets Fee for SIPP Fee for SIPP Fee for QROPS
Under Accounts opened on Accounts opened clients
Management or before July 26, after July 26, 2019
2019 and invested on
Novia Global.
Up to $999,999 1.25% 1.00% 1.00%
$1,000,000 - 1.00% 1.00% 1.00%
$4,999,999
$5,000,000 and Negotiable Negotiable Negotiable
above
Billing Cycles Billed monthly in Billed monthly in Billed quarterly in
arrears arrears arrears or monthly in
arrears
Negotiable Generally only Generally only Generally only
negotiable over negotiable over negotiable over
$5,000,000 subject to $5,000,000 $5,000,000 subject to
management’s management’s
approval subject to approval
management’s
approval
Payments Directly debited from Directly debited Directly debited from
the account from the account the account
Minimum Account ₤110,000 if ₤110,000 if Pre-March 8,
Size
transferring from a transferring from a 2017 $100,000
defined contribution defined contribution
plan, plan,
₤200,000 if ₤150,000 if
transferring from a transferring from a
defined benefit plan defined benefit plan
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Non-International Advisory Services
Client Assets Charles Schwab SEI Interactive Brokers
Under
Management
Up to $10,000 0.00% 0.00% 0.00%
$10,001 - 1.00% 1.00% 1.00%
$4,999,999
$5,000,000 and Negotiable Negotiable Negotiable
above
Billing Cycles Billed monthly in Billed quarterly in Billed monthly in
arrears arrears
arrears
Negotiable Generally only Generally only Generally only
negotiable over negotiable over negotiable over
$5,000,000 $5,000,000 $5,000,000
subject to subject to subject to
management’s management’s management’s
approval approval approval
Payments Directly debited from Directly debited Directly debited from
the account from the account. the account.
Minimum Account N/A N/A N/A
Size
Assets under management are valued by the Custodians that hold the assets. Brite USA’s
advisory fees are exclusive of, and in addition to, custody fees, brokerage commissions,
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transaction fees, fees charged by mutual funds, ETFs, UCITS, or other pooled investment
vehicles held in a Client account to their investors, and other related costs and expenses incurred
by Clients. Please see Item 12 of this Brochure regarding Brokerage Practices.
Generally, the advisory fee is non-negotiable for accounts less than $5 million, although Brite
USA, in its sole discretion, may agree to charge a lesser advisory 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 client relationship,
account retention, pro bono activities, etc.).
Advisory fees are computed based on the value of assets held in Client’s account as of the end of
a given month or quarter, as the case may be, except for Clients who hold accounts with Utmost
Worldwide Limited (see below) and clients whose assets are held in the Brite Platform (see
below). If assets are deposited into a Client's account after the inception of a billing period, the
advisory fee payable with respect to such assets will be adjusted pro rata to reflect the period for
which those assets were managed by the Firm. In determining the value of the assets held in
Client’s account, the Firm will rely exclusively on the custodian of the assets to determine such
values. If the custodian is unable to provide such valuations, the Firm will obtain and rely on
valuations provided by an independent party that the Firm, in its sole discretion, selects and
believes is reliable.
For QROPS Clients who hold accounts with Utmost Worldwide Limited (formerly known as
Generali International Limited), the quarterly billing cycle is based on the day the account was
opened (“Plan Commencement Date”) rather than on calendar quarters. The first date on which
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