Item 5 – Fees and Compensation
A Joslin Capital Advisors provides investment advisory and financial planning services to its
Clients. Services typically include the analysis of the Client’s current portfolio,
development of an investment policy statement, implementation of a recommended
portfolio(s), performance reporting, and ongoing monitoring of the investment
portfolio(s).
Joslin Capital Advisors also charges annual fees for managing Clients’ portfolios. The fees
charged vary between 0.25% and 1.75% of assets under management according to the
amount of assets under management and the specific needs of the client. Joslin Capital
Advisors has no set account minimum. In certain circumstances, fees are negotiable.
On a limited basis, we also offer investment consultations or financial planning services
at an hourly or fixed fee rate. Hourly consulting or financial planning rates range from $90
to $350 per hour, depending on the complexity of the project, the scope of work to be
performed, and the differential expertise of the Investment Advisor Representative
(“IAR”) providing the services. Some of the factors contributing to determination of the
hourly rate for financial planning services typically include which and how many of the
following areas will be addressed in the financial planning services: statements of
financial position (includes net worth and cash flow statements), risk assessment, long
term care and disability evaluation, core tax planning, core estate planning, asset
allocation, real estate analysis, retirement planning, and business transition planning.
Pricing will be developed on a project-by-project basis for each Client, also depending on
the complexity, scope of work to be performed, expertise of the investment advisor
representative providing the services, and the estimated time required to complete the
project. Examples of the factors contributing to the determination of the hourly rate for
fixed fee projects usually include the same areas as described above for financial planning
rates.
Joslin Capital Advisors also offers retainer fee arrangements to a limited number of
clients. Depending on the relationship, these fees are billed either in advance or in
arrears.
In circumstances where a TPAM or a sub-advisor is utilized to provide certain investment
advisory services to a Client, Joslin Capital Advisors will submit an invoice to the custodian
quarterly in advance for the advisory services and the custodian will deduct the TPAM or
sub-advisor’s fee directly from the Client’s custodial account as well as Joslin Capital
Advisor’s investment advisory fee. The TPAM or sub-advisor’s fee will always be a portion
of the Client’s total advisory fees as stated in the Client’s investment advisory agreement
11431 Willows Road NE / Suite 120 / Redmond, WA 98052 / 425-688-0555 / www.joslincapital.com
Advisory services are offered by Joslin Capital Advisors, LLC, an SEC Registered Investment Advisor
JOSLIN CAPITAL ADVISORS, LLC
Form ADV Part 2A – Firm Brochure
with Joslin Capital Advisors.
Fees for TPAM services are generally negotiable.
B For most clients, we bill quarterly fees in advance and concurrently send the Client an
invoice itemizing the fee and send the custodian a notice of the amount of the fee to be
deducted from the Client’s account. Fees are paid directly to us from the account by the
custodian upon our submission of an invoice to custodian. Payment of fees can result in
the liquidation of Client’s securities if there is insufficient cash in the account. The fee is
based on the market value of the Client’s account at the end of the prior quarter.
Market value means the value of all assets in the account (not adjusted by any margin
debit). To determine value, securities and other instruments traded on a market for which
actual transaction prices are publicly reported shall be valued at the last reported sale
price on the principal market in which they are traded (or, if there shall be no sales on
such date, then at the mean between the closing bid and asked prices on such date).
Other readily marketable securities and other instruments shall be priced using a pricing
service or through quotations from one or more dealers. All other assets shall be valued
at fair value by Joslin Capital Advisors and in accordance with our fiduciary duty.
Fees for a partial quarter at the commencement or termination of an agreement will be
prorated based on the number of days the account was open during the quarter.
For fixed fee and hourly projects we generally bill upon completion of the project with
payment immediately due and payable at that time. For certain projects however, we
reserve the right to request some portion of the estimated total fee be billed in advance.
C Clients pay brokerage transaction costs and other charges directly to the custodian. See
Item 12. Clients can be required to pay, in addition to Joslin Capital Advisors’ fee, a
proportionate share of any Exchange Traded Fund’s (ETF) or mutual fund’s fees and
charges. For example, Mutual fund operating expenses are paid out of the fund and are
an additional expense incurred by the Client.
D Clients pay all advisory fees, quarterly in advance. Hourly fees will be charged monthly in
arrears. Fixed fee projects often require one half of the fixed fee to be paid up front, with
the balance due upon completion of the project.
New accounts are pro-rated from the time we begin charging a fee to the Client. Fees for
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