Item 5: Fees & Compensation
Compensation for Our Advisory Services.
Since the inception of the firm our standard annual management fee has been 2.00%. We currently
offer only one investment strategy to new investors, which is the “Growth Portfolio”. Since the
Growth Portfolio can be more diversified, fees are either 1.5% or could be negotiated lower based on
many factors. Management fees will be detailed in Schedule A of our investment advisory agreement.
Our firm’s annualized fees are billed on a pro-rata basis quarterly in advance based on the value of
your account on the last day of the previous quarter. Fees will be deducted from your managed
account. Our firm bills on cash unless indicated otherwise in writing. Adjustments will be made for
deposits and withdrawals during the quarter. As part of the fee deduction process, the client is made
aware of the following:
a) Clients must provide our firm with written authorization permitting direct payment of
advisory fees from their account(s) maintained by a custodian who is independent of our
firm;
b) Our firm sends quarterly statements to the client showing the fee amount, the value of the
assets upon which the fee is based, and the specific manner in which the fee is calculated as
well as disclosing that it is the client’s responsibility to verify the accuracy of fee calculation,
and that the custodian does not determine its accuracy; and
ADV Part 2A – Firm Brochure Page 5 of 24 Norfield Capital, LLC
c) The account custodian sends a statement to the client, at least quarterly, showing all account
disbursements, including advisory fees.
Other Types of Fees & Expenses.
Clients will incur transaction charges for trades executed in their accounts. These transaction fees
are separate from our firm’s advisory fees and will be disclosed by the chosen custodian. Interactive
Brokers does not charge transaction fees for U.S. listed equities and exchange traded funds.
Clients may also pay holdings charges imposed by the chosen custodian for certain investments,
charges imposed directly by a mutual fund, index fund, or exchange traded fund, which shall be
disclosed in the fund’s prospectus (i.e., fund management fees, initial or deferred sales charges,
mutual fund sales loads, 12b-1 fees, surrender charges, variable annuity fees, IRA and qualified
retirement plan fees, and other fund expenses), mark-ups and mark-downs, spreads paid to market
makers, fees for trades executed away from custodian, wire transfer fees and other fees and taxes on
brokerage accounts and securities transactions. Our firm does not receive a portion of these fees.
Termination & Refunds.
We charge our advisory fees quarterly in advance. In the event that you wish to terminate our
services, we will refund the unearned portion of our advisory fee to you. You need to contact us in
writing and state that you wish to terminate our services. Upon receipt of your letter of termination,
we will proceed to close out your account and process a pro-rata refund of unearned advisory fees.
Commissionable Securities Sales.
We do not sell securities for a commission in our advisory accounts.