Canopy Partners LLC

5. Fees and Compensation
General Fee Information
Member Clients execute two fee agreements with Canopy: 1) Investment Management and 2) Member
Services. Both agreements are available upon request for further review. Typically, fees paid by a Client
reflect the total assets across a given Member family relationship. Thus, individual and household Clients
benefit from scale pricing across an entire Member family relationship.
   1. Governed under our Investment Management Agreement, fees are generally charged based on a
      percentage of the value of the discretionary assets under management (AUM), starting at 70 basis
      points and decreasing incrementally depending on the aggregate assets managed. For non-
      discretionary investments, there is a separate fee schedule starting at 20 basis points and decreasing
      incrementally depending on the assets monitored by the firm (AUS). Asset management fees (AUM
      and AUS) are generally payable monthly, in arrears. With Client authorization, unless other
      arrangements are made, asset management fees are typically debited directly from Client
      account(s). The Investment Management Agreement provides the complete Canopy fee schedule
      and related graduated fee levels or breakpoints.
   2. Canopy also employs an annual Member Services fee subject to a Member Services Agreement. This
      provides compensation for services involving wealth strategy, financial planning, banking and credit
      consulting, all reporting activities, personal services, and use of our digital technology environment.
      There is one fixed annual fee for a given Member relationship and a smaller fee for other family

                                Canopy Partners, LLC Form ADV Part 2A 7/10/2025 | 6

       branches that may join. It is charged in advance annually. With Client authorization, unless other
       arrangements are made, the Member Services fee is typically debited directly from the Client
       account(s).
Canopy Partners may negotiate its fees above for unique circumstances that reflect the scope of the
services and composition of the Member family considering working with Canopy Partners. Generally,
Canopy Partners seeks to avoid discounts on its stated fee schedules unless warranted. Additionally,
Canopy Partners has an extensive evaluation process that promotes an open discussion with the
prospective Member family about the “goodness” of fit for Canopy Partners and that family to work together.
This process helps to establish the basis of the fees proposed.
Fees paid to Canopy exclude all custodial and transaction costs paid to the Client’s custodian, brokers, or
other third-party consultants. Please see Item 12 – Brokerage Practices for additional information. Fees
paid to Canopy are also separate and distinct from the fees and expenses charged by mutual funds, ETFs
(exchange-traded funds), or other investment pools to their shareholders (generally including a
management fee and fund expenses, as described in each fund’s prospectus or offering materials). Canopy
can assist the Client in understanding the full scope of fees charged by any employed funds, strategies, or
managers, in addition to those of Canopy, to fully understand the total amount of fees paid by the Client for
investment and financial-related services.
Other Compensation
Certain Owners and Partners of Canopy are also owners of Tusculum Insurance Solutions, LLC
(“Tusculum”), an insurance agency registered in the state of Ohio. Because Canopy and Tusculum are under
common control, there is a benefit for the firms to share Clients. Although the two firms may each
recommend the other to Clients, there is no requirement that any Client of one firm use the services of the
other. The services of Canopy and Tusculum are separate and distinct from one another and receive
separate compensation. Neither firm pays a referral fee to the other for recommending a Client.
As indicated above, certain representatives of Canopy maintain licenses with various life insurance
companies. Individuals licensed through Tusculum (and not as Canopy representatives), may recommend
insurance products under circumstances where they and the Owners of Tusculum would be entitled to
compensation. In all such circumstances, however, the Member Client will not pay a commission to
Tusculum and a management fee to Canopy on the same pool of assets. Member Clients are under no
obligation to purchase any of the recommended life insurance products.

7. Types of Clients
Canopy serves ultra-high-net-worth families and their related businesses and charitable entities. It does not
generally impose a minimum portfolio value or a minimum annual fee for its services. Canopy serves
families exclusively with generational wealth, which is generally accepted to be $30 million in net worth or
more, including financial assets and/or the value of a business owned by the family.