Fees and Compensation — Form ADV Part 2A (7/1/2021)
[Brochure]
Item 5 Fees and Compensation
Concord requires that the amount of fees charged to each individual client be at least
$15,000 per annum whether the fee is calculated in accordance with the basic fee schedule
or is negotiated. Concord may waive this minimum fee in certain cases.
Concord’s basic fee for investment advice in respect of each investment account is, for
equity accounts, 1% per annum, and is, for fixed income accounts, 0.25% per annum, in
each case calculated with respect to the market value of investments in such account, as
further described below. Concord does not maintain a schedule for its fees. Concord may
charge a higher fee for the management of investments in foreign securities. Fees are
typically assessed quarterly in advance. In computing the market values of the assets in any
given investment account, each security listed on any securities exchange is valued at the
last reported sale price on such securities exchange on a certain quarterly valuation date. If
such a security is listed on a securities exchange but was not sold on such exchange on
such quarterly valuation date, the market value of such security is calculated with reference
to the last reported sale price on the day immediately preceding such quarterly valuation
date on which there was such a sale on such exchange. If any security is not listed on a
securities exchange on the quarterly valuation date, the market value of such security is
deemed to be the mid-price between the latest bids and offers. All other assets in the
investment account are valued in such a manner as is determined in good faith by Concord
to reflect their market value.
Clients who request specialized reports or services may be charged a separate fee for such
reports or services, which is negotiated on an individual basis. Fees are negotiated
separately for certain accounts rather than requiring adherence to a rigid fee schedule.
Negotiated fees may be based on a percentage of assets which the client has under
management, fixed fees, administrative fees and such other fees which may be negotiated
with the client. Such fees may be affected by the amount of funds under management, the
client’s investment objectives and the manner in which the funds are invested.
Clients may terminate an investment advisory contract with Concord for any reason at any
time upon 30 days written notice to Concord. Concord will promptly refund any fees that
have been prepaid and not earned on or prior to the date of termination.
Account Minimums and Types of Clients — Form ADV Part 2A (7/1/2021)
[Brochure]
Item 7 Types of Clients
Concord provides investment advice for Individuals, Banks or thrift institutions, Trusts,
estates or charitable organizations and Corporations.
In most cases, the minimum amount required to start an account is $1.5 million. However,
exceptions are made where there is a business interest to do so.