Item 5 Fees and Compensation
Wealth Management
Our annual fees for Wealth Management services for retail clients are based upon a
percentage of assets under management and generally range from 0.50% to 2.0%. Some
clients pay a fixed fee between .50% and 2.0%, while other clients are on a tiered pricing
structure, as shown below:
Clients utilizing GCP’s tax preparation services:
AUM Incremental Fee Financial Planning Tax Stipend
First $999,999 1.00% Included Up to $750
$1 million - $1,999,999 0.95% Included Up to $1,500
$2 million - $2,999,999 0.85% Included Up to $2,500
$3 million - $3,999,999 0.75% Included Up to $2,500
$4 million - $4,999,999 0.65% Included Up to $2,500
$5 million - $9,999,999 0.50% Included Up to $2,500
$10 million - $24,999,999 0.40% Included Up to $2,500
$25 million and over 0.30% Included Up to $2,500
Clients not utilizing GCP’s tax preparation services:
AUM Incremental Fee Financial Planning Tax Stipend
First $999,999 0.95% Included N/A
$1 million - $1,999,999 0.90% Included N/A
$2 million - $2,999,999 0.80% Included N/A
$3 million - $3,999,999 0.70% Included N/A
$4 million - $4,999,999 0.60% Included N/A
$5 million - $9,999,999 0.50% Included N/A
$10 million - $24,999,999 0.40% Included N/A
$25 million and over 0.30% Included N/A
The fee covers investment supervisory services, comprehensive financial planning, tax
planning and preparation (limited to the stipends outlined above), management of held away
accounts, education planning, estate planning, insurance planning, and charitable giving
Some clients have elected to pay commissions in lieu of advisory fees. In those cases, the
client does not pay an annual fee for Investment Supervisory Services.
A minimum of $1,000,000 of assets under management is required for Wealth Management
services. This account size may be negotiable under certain circumstances. Gill Capital
Partners may group certain related client accounts to achieve the minimum account size
and determine the annualized fee.
Institutional Services
Our annual fees for Investment Supervisory Services for institutional clients are based upon a
percentage of assets under management and generally range from 0.05% to 0.90%.
A minimum of $1,000,000 of assets under management is required for this service. This
account size may be negotiable under certain circumstances. Gill Capital Partners may
group certain related accounts for the purposes of achieving the minimum account size and
determining the annualized fee.
Fund Advisory Services
Our annual management fee for services provided to the Parliament Income Fund, LLC (the
“Fund”) is 1.50%. Gill Capital Partners does not charge a performance fee.
Subject to any limitations provided in the Offering Documents, the Fund bears all expenses
incurred by the Fund or Gill Capital Partners (on behalf of the Fund) in conduct of the Fund’s
business, including the management fee, organizational expenses, offering expenses,
investment expenses related to the purchase, sale, trade, custody or transfer of Fund
assets, including brokerage costs and commissions; expenses related to consultants,
brokers or other professionals or advisors who provide research, advice or due diligence
services; research-related costs and expenses (including fees for news, market data, data
feeds, software and databases); due diligence expenses including travel and travel-related
expenses related to investment selection and monitoring (including attending professional
investment and industry specific conferences); expenses for professional services such as
legal, accounting, audit and third party administration fees; all expenses for preparation of
the Fund’s financial statements, tax returns and filings including Members’ Schedule K-1s,
tax preparation and any applicable tax liabilities; other governmental charges or fees
payable by the Fund; director and officer and/or errors and omissions liability insurance
premiums or fiduciary liability insurance premiums for directors, officers and personnel of
the Investment Manager; expenses of investor communications including but not limited to
preparing and distributing any statements, reports and notices to the Members; litigation
expenses and other extraordinary expenses; expenses incurred in connection with
transactions not consummated and all other reasonable expenses related to the
management and operation of the Fund or the purchase, sale or transmittal of Fund assets;
all costs and expenses associated with negotiating and entering into contracts and
arrangements in the ordinary course of the Fund’s business; indemnifications, fees incurred in
connection with the maintenance of bank or custodian accounts; and expenses associated
with the termination, dissolution and winding up of the Fund.
A minimum investment of $250,000 is required. This investment minimum may be
negotiable under certain circumstances. Gill Capital Partners may group certain related
accounts for the purposes of achieving the minimum account size.
Negotiability of Advisory Fees
Gill Capital Partners retains the discretion to negotiate fees on a client-by-client basis. Client
facts, circumstances and needs are considered in determining the fee schedule. These
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