Item 5: Fees and Compensation.
The Firm enters into a written investment advisory agreement with its Clients. The advisory agreement contains
the fee arrangement. Typically, either party may cancel the advisory agreement without penalty upon thirty (30)
days’ written notice.
The Firm charges investment advisory fees as a percentage of assets under management. The Firm charges these
fees quarterly in arrears based on the value of the portfolio as of the last day of the quarter. The advisory fee as a
percentage of assets under management is prorated if a Client relationship originated or was terminated after the
inception of a quarter and is based on the number of days the Client’s written investment advisory agreement was
in effect during that quarter. If Client assets are deposited into or withdrawn from an account after the inception of
a quarter, the fee payable concerning such assets will be adjusted or prorated based on such amounts deposited or
withdrawn.
The Firm’s Clients receive a written fee notification along with their respective quarterly portfolio reviews that
details the fee calculation, including any formulas used to calculate fees, the period that the fee covers, and the
amount of assets under management upon which the fee is based. A Client may choose to have the fees debited
directly from their account held by a qualified custodian. To do so, the Client must provide the Firm with written
authorization to deduct the Firm’s fee from a specified account with a qualified custodian, and the Firm possesses
such written authorization from the Client before it deducts any advisory fees from the Client’s account. Also, the
Firm sends the qualified custodian a written notice of the amount of the fee to be deducted from the Client’s
account. The statements a Client receives directly from the custodian will also reflect the Firm’s fees.
The Firm’s annual fee to cover investment advisory services and basic wealth planning and coordination shall vary
(up to a maximum of 2.00% of assets under management) and are based on a variety of subjective factors, including
but not limited to the complexity of the Client, assets to be placed under management, anticipated future additional
assets, related accounts, portfolio style, account composition, reports, among other factors.
The Firm retains the discretion to negotiate fees on a Client-by-Client basis. The Firm considers Client facts,
circumstances, and needs in determining their respective fee schedule. The contract between the Firm and each
Client will identify the Client’s specific annual fee schedule. The Firm wishes to state that, at times, the fees
charged may be higher or lower than normally charged in the industry, and it is possible the same, similar, or
significantly different services are available from other investment advisers at higher or lower rates. The Firm
waives advisory fees for employees and certain family accounts. The Firm will grant other waivers at its discretion.
The Firm requires a minimum annual fee of $30,000 for investment advisory services and basic wealth planning
and coordination services. If a Client's assets under management are not sufficient to generate the minimum annual
fee, Clients have the option of paying the difference (until their assets are sufficient) to receive the desired level of
service. For instance, if a Client desires to receive investment advisory services from the Firm and their assets
generate an annualized fee of $20,000, they have the option of paying the difference (i.e., an additional $10,000)
to reach the minimum annual fee of $30,000 until their assets under management are sufficient to generate the
minimum annual fee.
The Firm reserves the right to negotiate fees for accounts depending on the size and type of account, the investments
in the account and the services required. Therefore, some Clients pay different fees from those shown above.
Part 2A of Form ADV: Uniform Application for Investment Adviser Registration Page 8
Coury Firm Asset Management LLC
To the extent a Client of the Firm invests in an Affiliated Fund, the Client will normally bear both the investment
management fee charged directly by the Affiliated Fund in addition to the investment advisory fee charged for the
Firm’s private client services (i.e., private wealth and multi-family office services). This creates a conflict of
interest as the Firm has an incentive to recommend an Affiliated Fund to a Client based on its interest in receiving
additional advisory fees. The Firm has a fiduciary duty to recommend investments that are appropriate for Client
accounts and without consideration of the Firm’s economic or other financial interests. The Firm expects to take
account of unique aspects of the Affiliated Funds’ investment strategies, their terms, and the Firm’s transparency
into the operations of the Affiliated Funds relative to the operations of third-party funds, and the best interest of
each Client to whom the Firm makes a recommendation about Affiliated Funds.
Other Fees and Expenses
The Firm is paid a fee for providing investment advisory services to retirement plan Clients (“Plan Clients” or the
“Plan”), and such fee is tailored to the services requested by that particular Plan Client. The Firm’s fees for
investment advisory services provided to Plan Clients are negotiable and are mutually agreed upon by the Plan
Client depending on the level, complexity, and scope of services provided. The advisory fees for a Plan Client are
deducted directly from the Plan’s investment accounts by the Plan custodians on a monthly basis, in arrears. These
fees are remitted directly to the Firm by the Plan custodian. A Plan trustee may terminate the relationship with
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