Item 5 – Fees and Compensation
The following paragraphs detail the fee structure and compensation methodology for services provided by the
Adviser. Each Client engaging the Adviser for services described herein shall be required to enter into a written
agreement with the Adviser.
A. Fees for Advisory Services
Wealth Management Services
For Clients engaged for comprehensive wealth management services, each Client will be charged a management
fee (the “Wealth Management Fee”) of up to a maximum annual rate of 1.50% (“the Wealth Management Fee
Corient Capital Partners, LLC
500 Newport Center Drive, Suite 700, Newport Beach, CA 92660
Phone: (949) 945-2750 | Fax: (949) 945-2760
Page 6 http://corient.com
Rate”) of the gross market value of assets under management, including, if applicable, a target notional value of
options overlays (together, a client’s “Gross Assets”), paid quarterly, in advance of each quarter. Each Client’s
Wealth Management Fee Rate is set forth in a wealth management agreement, and is determined based on several
factors, including: the complexity of the services to be provided, the level of assets to be managed, and the overall
relationship with the Adviser. Certain Qualified Clients may also be subject to performance-based fees as described
in Item 6 below. The Custodian will independently value all securities held in accounts managed by Corient. Corient
will not have the authority or responsibility to value portfolio securities.
The Client may make additions or withdrawals from the account[s] at any time, subject to the Adviser’s right to
terminate an account or the overall relationship. Additions may be in cash or securities provided that the Adviser
reserves the right to liquidate any transferred securities or decline to accept particular securities into a Client’s
account[s]. Clients may withdraw account assets on notice to Corient, subject to the usual and customary securities
settlement procedures. However, the Adviser typically designs its investment portfolios as long-term investments
and the withdrawal of assets may impair the achievement of a Client’s investment objectives. Corient may consult
the Client about certain implications such transactions. Clients are advised that when such securities are liquidated,
they may be subject to securities transaction fees, short-term redemption fees, and/or tax ramifications. If assets in
excess of $50,000 are deposited into or withdrawn from the Client’s account[s], the Adviser’s fee will be adjusted
throughout the billing period, addressing the fee difference at the end of each month. The Adviser may negotiate a
fee that differs from the schedule above for certain account[s] or holdings.
Use of Independent Managers
For Clients utilizing Independent Managers, underlying investment management fees may be separately billed or
deducted from the Client’s account(s) by such Independent Manager forth in the respective agreements between
the Client, and/or the Adviser, and such Independent Manager.
Private Fund Management
The Adviser is entitled to an advisory fee and/or performance based fee pursuant to the Memorandum. Depending
on the engagement with funds, advisory fees may either be mitigated or offset, pursuant to a written arrangement.
B. Fee Billing
Wealth Management Services
Wealth Management Fees are charged and paid quarterly, in advance of each calendar quarter, pursuant to the
terms of the Client’s wealth management agreement, based on the Client’s Gross Assets as of the end of the prior
calendar quarter, subject to monthly “true-ups” as set forth in each Client’s wealth management agreement. Wealth
Management Fees are calculated by the Adviser or its delegate and deducted from each Client’s account(s) by the
Custodian. Each client’s Wealth Management Fee is calculated by dividing such Client’s then current Wealth
Management Fee Rate by 4 and multiplying the quotient by the Client’s Gross Assets. Clients will be provided with
a statement, at least quarterly, from the Custodian reflecting deduction of the wealth management fee. It is the
responsibility of the Client to verify the accuracy of these fees as listed on the Custodian’s brokerage statement as
the Custodian does not assume this responsibility. Clients provide written authorization permitting Corient to be
paid directly from their account(s) held by the Custodian as part of the wealth management agreement and separate
account forms provided by the Custodian.
Use of Independent Managers
For Clients utilizing Independent Managers any underlying investment management fees will be deducted from the
Client’s account(s) by such Independent Manager as set forth in the respective agreements between the Client,
and/or the Adviser, and such Independent Manager.
Private Fund Management
Clients should refer to each private fund memorandum for information regarding the fund’s fees and related
disclosures.
C. Other Fees and Expenses
Clients may incur certain fees or charges imposed by third parties, other than Corient, in connection with
investments made on behalf of the Client’s account(s). The Client is responsible for all custody and securities
Corient Capital Partners, LLC
500 Newport Center Drive, Suite 700, Newport Beach, CA 92660
Phone: (949) 945-2750 | Fax: (949) 945-2760
Page 7 http://corient.com
execution fees charged by the Custodian, if applicable. The fees charged by Corient are separate and distinct
from these custodian and execution fees.
In addition, all fees paid to Corient for wealth management services are separate and distinct from the expenses
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