Item 5: Fees and Compensation
Managed Discretionary Asset Fees
The Adviser bases its annual investment management fee for managed discretionary assets upon a
percentage (%) of the market value of the assets and the specific types of investment management
services provided. Maven charges an annual fee of up to 1.0% of assets under management.
Managed Non-Discretionary Asset Fees
The annual investment management fee charged on Managed Non-Discretionary Assets is up to
1.00%.
Investment Consulting Asset Fees
The Adviser bases its annual investment consulting fee for investment consulting assets upon a
percentage (%) of the market value of the assets and the specific types of investment consulting
services provided. Maven charges an annual fee of up to 1.00% of assets under advisement.
Negotiated Fees
The Adviser, in its sole discretion, may reduce its investment management fee based upon certain
factors, like anticipated future earning capacity, anticipated future additional assets, dollar amount
of assets to be managed, related accounts, account composition, negotiations with client and other
considerations.
Billing of Fees
Maven’s investment management fees shall be assessed quarterly, in advance, based on the asset
values as of the day prior to the period being billed. If management begins after the start of a
quarter, fees will be prorated accordingly and billed the first month after account inception.
Deposits and/or withdrawals of $10,000 or more made during the calendar quarter will be prorated
and charged or rebated in advance (arrears), as applicable. Maven clients must provide their
consent in advance to direct debiting of investment management fees from their custodial account.
The Investment Advisory Agreement and the custodial/clearing agreement authorize the custodian
to debit the client account for the amount of the Adviser’s investment management fee, and to
directly remit that investment management fee to Maven in compliance with regulatory procedures.
In the limited event that the Adviser bills the client directly, payment in full is expected upon
presentation of the invoice.
Each client’s specific fee schedule will be included in their Advisory Management Agreement. With
client authorization in the Advisory Management Agreement and unless other arrangements are
made, fees are normally debited directly from client account(s).
Other Fees
Unless clients direct otherwise or an individual client’s circumstances require, the Adviser generally
recommends one of several unaffiliated custodians (e.g., Raymond James, Charles Schwab & Co., TD
Ameritrade, etc.) serve as the broker-dealer/custodian for client investment accounts. Broker-
dealers such as those listed above may charge brokerage commissions and/or transaction fees for
effecting certain securities transactions. For example, these custodians may charge commissions
for individual equity and fixed income securities transactions or fees may be charged for certain no-
load mutual fund transactions. In addition to the Adviser’s investment management fee, custodial
brokerage commissions and/or transaction fees, clients will also incur, relative to all mutual fund
and exchange traded fund purchases, charges imposed at the fund level (e.g., management fees and
other fund expenses).
Some mutual funds within this program pay 12b-1 service fees (normally 0.25% per year) to the
Custodian. The mutual funds the Firm could purchase or recommend offer a variety of share classes,
including some that do not charge 12b-1 fees and are, therefore, less expensive. These fee
arrangements will be disclosed upon request of a client and are available in the applicable fund
prospectus. When deciding whether to invest in a mutual fund share classes are compared and
reviewed along with the anticipated investment timeframe and other costs to determine the best
selection for the client at that time. Mutual funds carrying 12b-1 fees may be recommended when
seen as an overall benefit to the client. For example, a lower share class may not be available to
Maven. On a regular basis the Firm will review any holdings with 12b-1 fees to see if there is a lower
cost share class available to consider switching into. The Firm does not receive any part of the fees
charged by Mutual Funds.
In addition, a separate technology platform fee of up to .25% (subject to a $10 minimum quarterly
technology platform fee-$40 annually) per account is charged which covers the firm's technology
platforms used for billing, reporting and accessing a wide field of money managers. To the extent
that the overall quarterly fee assessed on each account is less than $10, the difference shall be
assessed and charged to the client. Fees may be customizable depending on the needs of the client.
Additionally, no increase in the annual fee shall be effective without prior written notification to the
Client.