ITEM 5. FEES AND COMPENSATION
Our Fees
Investment Advisory Services
First $5,000,000 = 0.40% annual rate
Beyond $5,000,000 = 0.30% annual rate
LEVO charges an advisory fee (“Advisory Fee”) for its advisory services and
execution of transactions within its Wrap Program at the end of each month based on the
average daily account balance during the month that the fee is charged. This is a marginal
account fee where the first $5,000,000 is charged a 0.40% annual rate and any amount
beyond $5,000,000 is charged a 0.30% annual rate. These fees are withdrawn directly
from the client’s accounts and presented in monthly statements. The fee schedule is not
subject to negotiation. Clients do not pay brokerage commissions, markups or transaction
charges for execution of transactions in addition to the Advisory Fee.
The advisory fee is withdrawn from the client’s brokerage account at the end of
each month, in the amount of 1/12 of the applicable annual fee (as shown above).
LEVO expects to lower or waive the Advisory Fee for certain clients, in LEVO’s
sole discretion. Although LEVO believes its Advisory Fee is competitive, clients should
be aware that lower fees for comparable services may be available from other sources.
Other Fees and Expenses
LEVO will wrap some third-party fees (i.e., custodian fees, brokerage fees, and
transaction fees) for wrap fee portfolio management accounts. LEVO will charge clients
one fee, and pay all transaction fees using the fee collected from the client. Wrap Program
accounts are not charged higher advisory fees based on trading activity.
Levo Adviser, LLC
Form ADV Part 2A – Disclosure Brochure 5 March 27, 2023
Certain other fees are not included in the wrap fee and are paid for separately by
the client. These include, but are not limited to, charges imposed directly by an exchange
traded fund (“ETF”), deferred sales charges, transfer taxes, and other fees and taxes on
brokerage accounts and securities transactions. Further information regarding fees
assessed by an ETF is available in the appropriate prospectus, which is available upon
request from us or from the product sponsor directly.
In addition, the Advisory Fee does not include or cover transfer taxes, fees and or
taxes assessed by state and federal governments or agencies thereof, internal fees and
expenses charged by the investments used in the Account (if any), the United States
Securities Exchange Commission Section 31 fee (“SEC Fee”) and the FINRA Trading
Activity Fee (“TAF”) and ADR fees (charged by each ADR in accordance with the terms
of the applicable ADR prospectus). You will be charged the mandatory SEC fee on the
trades executed in the Account. The SEC Fee is set by the SEC and subject to change.
As of the date of this Brochure, the SEC Fee per transaction is $22.90 per million dollars.
See the SEC Website for additional information on the SEC Fee. The TAF is set by FINRA
and subject to change. As of the date of this Brochure, the TAF per transaction is
$0.000130 per share for each sale of a covered equity security, which a maximum charge
of $6.49 per transaction. See the FINRA Website for additional information on the TAF.
We evaluate the relative annual costs of other service providers as a part of our
investment decision making process. Investors should review the fees charged by these
other service providers and our fees to fully understand the total amount of fees paid and
to evaluate the advisory services we provide.
Compensation from Sales of Securities
Neither we nor our supervised persons accept compensation for the sale of
securities or other investment products.