Item 5: Fees and Compensation
A. Fee Schedule
Mission Creek charges an asset-based fee for investment management services, calculated as a
percentage of assets under management. Fees typically range from 0.60% to 1.50% annually,
depending on the size, complexity, and scope of services provided. In certain cases, including
legacy or negotiated arrangements, fees may be lower than this range.
For private clients, advisory fees are billed quarterly, either in advance or in arrears, as specified
in the client’s agreement. Fees are based on the value of assets as of the last business day of the
applicable billing period and are prorated for accounts opened or terminated during the period.
The minimum quarterly fee is $750. Mission Creek may aggregate related client accounts for billing
purposes and may negotiate or waive fees based on account size, complexity, or other factors. As
a result, similarly situated clients may pay different fees, which presents a conflict of interest.
Additional fees may apply for certain services, including option overlay strategies, concentrated
stock management, and private equity distribution management. Sub-advisory clients are typically
charged a reduced fee based on the scope of services provided.
Mission Creek may also provide standalone advisory or financial planning services for an hourly
fee, typically ranging from $250 to $350 per hour. Total fees are based on the scope of services and
are estimated at the outset of the engagement.
For private equity distribution management services, fees may be based on a percentage of the
distribution or liquidation value of assets managed and may include performance-based
components, where permitted by applicable law and agreed upon with the client.
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B. Payment of Fees
Advisory fees for investment management services are billed quarterly, either in advance or in
arrears, as specified in the client’s agreement. Clients typically authorize Mission Creek to deduct
advisory fees directly from their accounts. In such cases, the qualified custodian remits fees to
Mission Creek based on the client’s written authorization. Clients receive account statements from
the custodian reflecting all fee deductions and are encouraged to review these statements carefully.
Mission Creek also provides a statement or invoice showing the amount of the fee, the value of
assets on which the fee was based, and the method of calculation. In certain circumstances, fees
may be invoiced directly and are due upon receipt.
Fees for private equity distribution management services are billed quarterly in arrears based on
the value of assets distributed or liquidated during the applicable period.
C. Clients Are Responsible for Third Party Fees
Mission Creek’s advisory fees do not include fees charged by third parties, such as custodial fees,
brokerage commissions, transaction costs, or other account-related expenses. Clients are
responsible for all such fees and expenses. Please refer to Item 12 for additional information
regarding brokerage practices.
Investments in mutual funds, exchange-traded funds (ETFs), and other pooled investment vehicles
include fees and expenses charged by the underlying investment managers. As a result, clients
incur both the advisory fee charged by Mission Creek and the internal fees and expenses of such
investment vehicles. Depending on the custodian and the specific investment, transaction fees,
redemption fees, or other charges may apply. Additional information regarding these fees and
expenses is available in the applicable fund prospectus or offering documents.
D. Prepayment of Fees
For accounts billed in advance, upon termination of the advisory agreement, any unearned prepaid
fees will be prorated through the date of termination and refunded to the client. For accounts billed
in arrears, fees will be prorated through the date of termination and either invoiced to or deducted
from the client’s account, as applicable.