FEES AND COMPENSATION
Investment Supervisory Services
Individual Portfolio Management Fees
Our annual fees for Investment Supervisory Services are based upon a percentage of assets under management
dictated by the investment strategy and structure of the products and services.
Fees for separately managed portfolios are charged as a percentage of assets under management and range from
0.15% - 1.50%, determined by strategy, mix of equity and fixed income, minimum investment, level of service and
overall relationship with FWCM. Fees are prorated for periods less than a full billing cycle and adjusted to cover
any additional contributions made during that period. There may be a performance fee for certain strategies.
Equity Accounts: Minimum Account Size $150,000
Investment Grade Fixed Income: Minimum Account Size $250,000
Short Duration Investment Grade Fixed Income: Minimum Account Size $2,000,000
Total Return: Minimum Account Size $1,000,000
Unconstrained Fixed Income Accounts: Minimum Account Size $5,000,000
High Yield Fixed Income Accounts: Minimum Account Size $500,000
High Yield Short Duration Fixed Income Accounts: Minimum Account Size $500,000
National Tax-Exempt Fixed Income Accounts: Minimum Account Size $500,000
California Tax Exempt Fixed Income Accounts: Minimum Account Size $500,000
FWCM also provides a model Large Capitalization Core Equity strategy, specifically for its affiliate, First Western
Trust Bank, as a sub-advisor, for a negotiated rate.
Limited Negotiability of Advisory Fees: Although FWCM has established the aforementioned fee schedule(s), we
retain the discretion to negotiate alternative fees on a client by client basis. Client facts, circumstances and needs are
considered in determining the fee schedule. These include 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 specific annual fee schedule is identified in the contract between the adviser and each
client.
We may group certain related client accounts for the purposes of achieving the minimum account size requirements
and determining the annualized fee.
Discounts, not generally available to our advisory clients, may be offered to family members and friends of
associated persons of our firm.
Fees for separate account management are deducted from the client’s account at the custodian. FWCM may allow
for clients to receive an invoice for payment instead. This method is by exception only.
Mutual Fund Portfolio Management
The Fixed Income Fund, the Short Duration Bond Fund, and the Short Duration High Yield Credit Fund each
compensate FWCM for the provision of services in accordance with investment advisory agreements approved by
the Board of Trustees of First Western Funds Trust. Advisory fees are calculated separately for each Fund at a
specified annual percentage of the Fund’s average daily net assets. FWCM may affect fee waivers or assumption of
expenses by entering into voluntary or contractual agreements. Voluntary fee waivers or commitments to reimburse
expenses may be rescinded at any time without further notice to investors. Each waiver or reimbursement of an
expense by FWCM is subject to repayment by the Funds within the three fiscal years following the fiscal year in
which the particular expense was incurred, provided that the Fund is able to make the repayment without exceeding
contractual agreements.
Please refer to the Prospectus or Statement of Additional Information (“SAI”) of the Funds for a more detailed
description of all Mutual Fund fees.
Portfolio management clients of our firm who also invest in the Fixed Income Fund, the Short Duration Fund or
Short Duration Credit Fund will pay only those fees charged to investors by the mutual fund, i.e., the value of the
client’s investment in the mutual fund is excluded from our quarterly portfolio management fee calculation.
General Information
Termination of the Advisory Relationship: A client agreement may be canceled at any time, by either party, for any
reason upon receipt of written notice. Upon termination of any account, any prepaid, unearned fees will be promptly
refunded. In calculating a client’s reimbursement of fees, we will pro rate the reimbursement according to the
number of days remaining in the billing period.
Mutual Fund Fees: All fees paid to FWCM for investment advisory services are separate and distinct from the fees
and expenses charged by mutual funds and/or ETFs to their shareholders. These fees and expenses are described in
each fund’s prospectus. These fees will generally include a management fee, other fund expenses, and a possible
distribution fee. If the fund also imposes sales charges, a client may pay an initial or deferred sales charge. A client
could invest in a mutual fund directly, without our services. In that case, the client would not receive the services
provided by our firm which are designed, among other things, to assist the client in determining which mutual fund
or funds are most appropriate to each client’s financial condition and objectives. Accordingly, the client should
review both the fees charged by the funds and our fees to fully understand the total amount of fees to be paid by the
client and to thereby evaluate the advisory services being provided.
Additional Fees and Expenses: In addition to our advisory fees, clients are also responsible for the fees and
expenses charged by custodians and imposed by broker dealers, including, but not limited to, any transaction
charges imposed by a broker dealer with which an independent investment manager effects transactions for the
...