5. Fees and Compensation
LNW is paid exclusively by its clients. For some clients, LNW will charge a fee based on a percentage of the market
value of assets held in a client’s portfolio. For others, LNW will charge a retainer or other fixed fee to cover investment
and financial advisory services or for special accounts or projects (“Retainer Fee”). Whether charged based on assets
under management or as an annual retainer, annual fees typically range between 0.90% and 0.30% of total assets
managed by LNW and may be subject to an annual fee minimum or adjustment. If services are provided to multiple
accounts or entities related to a client family, fees may be allocated among the various accounts or entities in a
mutually agreeable manner. Other factors used to determine the method of charging fees include the historical
nature of the client relationship, number of accounts and entities, portfolio and financial complexity, unique client
circumstances, the variety and scope of the services provided, and location or advisory team. Fee arrangements,
schedules, and account minimums for all services are negotiable, and LNW may consider additional factors in
adjusting fees, such as the potential for additional assets under management, the relationship with existing or
prospective clients or with the broader client family, the total dollar amount of assets to be managed, or other
considerations. Employees and affiliates of LNW and their families or related parties may receive investment and
financial advisory services for fees that are lower than what LNW generally charges clients.
Fee arrangements may be amended by mutual written consent or advance written notice to the client, depending
upon the circumstances and prior agreements with the client.
Neither LNW nor any of its employees accept compensation from the sale of securities or any other investment
products or services. LNW is independent of any broker-dealer or other investment management firm.
As previously noted, LNW does not charge the Private Funds an advisory fee or a performance-based fee. LNW
clients invested in those funds will continue to pay their normal asset-based fees for assets invested in the Private
Funds. Investors in RHF III and Renewable Power are also allocated their pro-rata share of fund costs and expenses.
Clients should refer to the offering documents for specific information regarding fund fees and expenses, including
fees charged to RHF III and Renewable Power.
Timing and Payment of Fees
Fees are generally paid quarterly in advance and calculated on the market value of the portfolio as of the end of the
preceding calendar quarter. For those clients charged a Retainer Fee, fees are paid quarterly in advance and based on
Laird Norton Wetherby Wealth Management, LLC
Part 2A of Form ADV
a pro-rata share of the annual agreed upon fee. Fees are charged for those accounts in which LNW provides
investment management services; in rare instances, LNW may agree to waive fees on specific accounts (sometimes
called “courtesy accounts”). Clients should refer to their investment advisory agreement for additional provisions
regarding fees, as the agreement controls for any particular client’s fee schedule and billing arrangements. Clients
may choose to have fees deducted directly from a custodial account or, alternatively, clients may request to be billed.
If a client terminates the investment advisory agreement with LNW during a billing period, LNW will refund any
unearned investment management fee to the client on a pro-rata basis based upon the time remaining in the quarter.
Occasionally, LNW may provide investment consulting or financial planning services on a limited engagement or
special project basis. Special projects are highly customizable and idiosyncratic and may include financial analysis,
wealth transfer planning, investment or philanthropy education, and specialized or custom investment due diligence.
Any hourly rate or project fee would be set forth in an investment advisory agreement with the client, based on the
projected complexity and scope of the analysis or services requested and the training and skills of staff members
providing the requested service.
Fees for Third Party Financial Products and Services
LNW’s fees are exclusive of all transaction fees, custodial fees, and direct investment manager fees or
costs for client investments, including, for example, brokerage commissions, management fees or costs of
funds, managed accounts, investment partnerships or similar. All such fees and costs incurred in connection with
transactions for any client account will be paid out of the assets in the account or billed separately to the client and
are in addition to the investment management fees paid to LNW.