Fees and Compensation — Form ADV Part 2A (3/25/2025)
[Brochure]
Item 5: Fees and Compensation
Our compensation for services is calculated and paid according to a schedule of fees agreed upon
between M&C and the Client. Generally, an account’s schedule of fees is based upon a percentage
of assets under management. We generally invoice fees for payment quarterly in advance (for the
upcoming quarter), although Clients have the option to request to pay fees quarterly in arrears (for
the past quarter). We apply the relevant schedule of fees to the fair market value of an account’s
assets, as we reasonably determine, on the last business day of each billing period. If a Client
terminates the account with us, we will prorate any fees paid in advance to the date of termination
specified in the Client’s notice of termination and will promptly refund any unearned portion to the
Client.
We compute the market value of any Client-account held security that is listed on a national securities
exchange by valuing the security on the valuation date at the last quoted sale price on the principal
exchange that trades the security. We then verify the price of every model portfolio security using
a reputable second source. For fixed income securities, the Fixed Income Portfolio Management
Department reviews for fairness valuations provided by third party pricing services. For any other
security or asset that has no readily available price quotation, we will value it in a manner that we
have determined in good faith to reflect the security’s fair market value. If requested by a Client, we
will calculate compensation for services based on the value determined by the Client’s custodian on
the last day of each period. Some Clients’ fees are based on daily valuations. A Client may authorize
us either to bill its custodian for fees or to bill the Client directly; however, M&C will not actually
deduct fees from a Client’s assets.
Although we generally require a minimum annual fee and adhere to a schedule of fees, we may, in
our sole discretion, agree to a fee different from the annual minimum or standard schedule of fees.
Clients will also incur fee charges by the custodian of the Client’s assets as well as brokerage and
other transaction costs, as described in Item 12 of this brochure. Some broker/dealer custodians
charge additional fees for transactions we execute with other brokers. Asset allocation portfolios
will also incur fees and expenses for ETFs or mutual funds as described in their respective
prospectuses.
Account Minimums and Types of Clients — Form ADV Part 2A (3/25/2025)
[Brochure]
Item 7: Types of Clients
M&C serves a wide range of institutional and individual Clients through separate accounts. We are
experienced in working with retirement plans, endowment funds and foundations, state and local
governments, hospitals, insurance companies and credit unions, and Taft-Hartley funds.
The minimum asset value for an individual or institutional M&C brand large cap growth, mid cap
growth, thematic growth, balanced or fixed income separately managed relationship is $1 million.
The minimum asset value for an individual or institutional M&C brand Global Tactical Allocation
Model portfolio is $100 thousand. In our sole discretion, we may accept accounts under the stated
minimums.