Item 5 . Fees and Compensation
OLA offers services on a fee basis, which may include fixed fees, as well as fees based upon assets
under management or advisement. Additionally, certain of the Firm's Supervised Persons, in their
individual capacities, may offer insurance products and securities brokerage services under a separate
commission-based arrangement.
Financial Planning and Consulting Fees
While not the Firm's typical practice, OLA may agree to provide financial planning and/or consulting
services under a stand-alone engagement for a fixed fee. This fee is negotiable, but may range up to
$10,000, depending upon the scope and complexity of the services to be rendered. If the client
engages the Firm for additional investment advisory services, OLA may offset all or a portion of its fees
for those services based upon the amount paid for the financial planning and/or consulting services.
The terms and conditions of the financial planning and/or consulting engagement are set forth in the
Advisory Agreement and OLA generally requires one-half of the fee (estimated hourly or fixed) payable
upon execution of the Advisory Agreement. The outstanding balance is generally due upon delivery of
the financial plan or completion of the agreed-upon services. The Firm does not, however, take receipt
of $1,200 or more in prepaid fees in excess of six months in advance of services rendered.
Wealth Management Fees
OLA offers investment management services for an annual fee based on the amount of assets under
the Firm's management. This annual management fee generally varies from 30 to 100 basis points
(0.30% - 1.00%) for fixed income accounts and 75 to 200 basis points (0.75% - 2.00%) for equity
accounts.
The annual fee is prorated and charged quarterly, in advance, based upon the market value of the
assets being managed by OLA on the last day of the previous billing cycle. If assets in excess of
$250,000 are deposited into an account after the inception of a billing period, the fee payable with
respect to such assets is adjusted to reflect the interim change in portfolio value. If assets in excess
of $250,000 are withdrawn from an account after the inception of a billing period, the fees charged with
respect to such assets are adjusted to reflect the interim change in portfolio value.
In the event the advisory agreement is terminated, the fee for the final billing period is prorated through
the effective date of the termination and the outstanding or unearned portion of the fee is charged or
refunded to the client, as appropriate. Additionally, for asset management services the Firm provides
with respect to certain client holdings (e.g., held-away assets, accommodation accounts, alternative
investments, etc.), OLA may negotiate a fee rate that differs from the range set forth above.
Fee Discretion
OLA may, in its sole discretion, negotiate to charge a lesser fee based upon certain criteria, such as
anticipated future earning capacity, anticipated future additional assets, dollar amount of assets to be
managed, related accounts, account composition, service requirements, pre-existing/legacy client
relationship, account retention and pro bono activities.
Institutional Asset-Based Fee Schedules
OLA's standard fee schedules for fully discretionary U.S.-based institutional Separate Account
Advisory Services are set forth below. These standard fee schedules may be modified from time to
time.
STRATEGY FEE
Small Cap Equity: 0.90% of the first $30 million;
0.80% of the next $20 million; and
0.70% over $50 million
Smid Cap Equity: 0.80% of the first $30 million;
0.70% of the next $20 million; and
0.60% over $50 million
Select Equity: 0.70% of the first $30 million;
0.60% of the next $20 million; and
0.50% over $50 million
Core Equity: 0.60% of the first $30 million;
0.50% of the next $20 million; and
0.40% over $50 million
Notwithstanding the fee schedules noted above, and subject to applicable laws and regulations, OLA
retains discretion over the fees that it charges to its clients, as well as any changes in its fee
schedules. Fees may be negotiated in OLA’s sole discretion in light of a client's special circumstances,
such as asset levels, service requirements, or other factors. In some cases, OLA may agree to offer
clients a fee schedule that is lower than that of other comparable clients in the same investment style.
In addition, there may be historical fee schedules with longer standing clients that differ from those
applicable to new client relationships. For comparable services, other investment advisers may charge
higher or lower fees than those charged by OLA. Advisory fees may be subject to a specified annual
minimum fee or maintenance of a certain minimum amount of contributed capital; however, OLA
reserves the right to waive all or a portion of its management fee and negotiate minimum annual fees
or asset levels.
Additional Fees and Expenses
In addition to the advisory fees paid to OLA, clients may also incur certain charges imposed by other
third parties, such as broker-dealers, custodians, trust companies, banks and other financial
institutions (collectively "Financial Institutions"). These additional charges may include securities
brokerage commissions, transaction fees, custodial fees, fees attributable to alternative assets,
reporting charges, charges imposed directly by a mutual fund or ETF in a client's account, as disclosed
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