Item 5 – Fees and Compensation
We charge separately for financial planning and investment management services unless otherwise agreed to with the
Client. We bill for financial planning and consulting fees on an hourly basis. Ongoing discretionary investment
management fees are either asset-based or we will negotiate an annual flat fee based on our estimate of time and the
complexity of services provided.
The compensation with respect to the CAP Funds will be in the form of management fees (and for the Private Credit
Fund, a performance allocation as well).
Financial Planning and Consulting Fees
Hourly planning and consulting fees are billed at an hourly rate ranging from $150 – $450 depending on the financial
planner assigned to the engagement and the details and complexity of the issues. We provide an estimate of the
number of hours required to complete the engagement prior to beginning the planning work, which will be detailed in
the Agreement between us. We require one half of the estimated total before beginning the planning process. Upon
completion of the financial planning or consulting engagement you will receive an invoice for the balance due. Payment
for financial planning and consulting services can be made via check, credit card, or electronic funds transfer. At no
time do we charge more than $1,200, six or more months in advance.
When we recommend Clients utilize a third-party estate planning platform as part of our financial planning services,
Clients are responsible for any fees that service provider charges. We will pass through those charges to Clients. Our
Columbia Advisory Partners P age |6 Form ADV Part 2A: Firm Brochure – 2/20/2026
fees for our financial planning services are separate from any fees charged to you by a third-party.
For fees paid to us by electronic funds transfer, we use an independent 3rd party payment processor in which you can
securely input your banking information and pay the fee. We do not have access to your banking or credit card
information at any time. You will be provided with your own secure portal to make payments.
You may terminate our Agreement at any time by means of a written request, but you will be responsible for paying
fees associated with any work completed to that point. All fees are negotiable on a case-by-case basis, at the sole
discretion of CAP.
Investment Management Fees – CAP Investment Management Program
Our AUM fees for investment management services are calculated and billed monthly in arrears and are based on the
average daily balance of your account(s) during the month based on the following schedule and are negotiable in our
sole judgment. Not all Clients pay the same fees, but no Client pays more than shown below. The actual fees you will be
charged will be described in your Agreement with us.
Household Tiered Fee Schedule
Assets Under Management Fee
First $500,000 1.25%
Next $500,000 1.00%
Next $1,500,000 0.85%
Next $2,500,000 0.75%
Next $5,000,000 0.50%
Next $15,000,000 0.25%
$25,000,000 and above 0.15%
The Agreement between us grants us authority to instruct your custodian to deduct the fees directly. If there is
insufficient cash in your account to pay your fees, or if we do not receive payment under a fixed-fee Agreement, an
equal balance of securities in your portfolio may be sold to pay our fee. The fee charged will appear on the statements
the custodian provides to you and we encourage you to review the statement carefully and compare it to the terms of
your Agreement with us. Your custodian will not independently confirm the accuracy of the fees we ask them to deduct.
You will incur additional fees and costs, beyond our advisory fees. These include brokerage and custodial charges that
are described more fully in Item 12, Brokerage Practices. Also, to the extent we invest in mutual funds or ETFs for your
portfolio, those investments include internal management fees and other costs that are expressed as the funds
“expense ratio” and that are separate from and in addition to our own management fees. We try to select funds and
ETFs that have low expense ratios and that will therefore have a lower negative impact on return over time.
We do not impose a minimum fee or account size to establish a relationship.
The CAP Funds
All fees paid to us for financial planning and other investment management services are separate and distinct from the
fees and expenses charged to Limited Partners in the CAP Funds for CAP’s management of such Funds’ portfolios. This
means that if you choose to invest in a CAP Fund, you will pay both a management fee to CAP in accordance with the
Columbia Advisory Partners P age |7 Form ADV Part 2A: Firm Brochure – 2/20/2026
CAP Investment Management Program fee schedule above, and a portion of your investment in a Fund will also go
toward paying CAP for its serving as investment adviser to the Fund and managing the Fund’s portfolio, the details of
which are described below. This is because the services CAP provides as part of its Investment Management Program
differ from those it provides as part of serving as investment adviser to the CAP Funds.
The Private Credit Fund is a Regulation D private fund for which Steward Alts, LLC (“Steward Alts”) serves as sponsor
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