Item 5 – Fees and Compensation
Procyon strives to be clear and transparent in explaining our fees so clients completely understand what they are
paying us. The following paragraphs detail the fee structure for services provided by the Advisor. Each Client
engaging the Advisor for services described herein shall be required to enter into one or more written agreements
with the Advisor.
A. Fees for Advisory Services
In summary, a Client may pay fees comprised of three separate components: Procyon’s Investment Advisory Fee,
a custodial fee to the Client’s engaged custodian, and any investment management or investment program fees,
if applicable, for the use of ETFs, Mutual Funds and/or Independent Managers.
Investment Management Services
Our fees are collected quarterly, in advance of each calendar quarter and generally charged during the first month,
pursuant to the terms of the investment advisory agreement. Investment advisory fees are based on the market
value of assets under management at the end of the prior calendar quarter but may also be offered as a fixed or
flat fee. For Clients who are assessed a fixed fee, the Advisor may impose an annual inflation rider on the advisory
fees in accordance with the advisory agreement.
Asset-based investment advisory fees are based on the following Standard Annual Fee Schedule:
Assets Under Management Annual Fee (%)
Up to $500,000 1.50%
$500,001 to $1,000,000 1.25%
$1,000,001 to $5,000,000 1.00%
$5,000,001 to $10,000,000 0.75%
$10,000,001 to $20,000,000 0.65%
$20,000,001 to $50,000,000 0.55%
$50,000,001 to $100,000,000 0.45%
Over $100,000,000 Negotiable
The investment advisory fee in the first quarter of service is prorated from the inception date of the account[s] to
the end of the first quarter. Fees may be negotiable at the sole discretion of the Advisor. Certain Clients may have
a fixed annual fee or fixed rate fee or a fee schedule that differs from the above and accounts from related clients
are typically grouped together to achieve the highest asset value possible to result in the lowest fee possible.
Certain Clients who joined the Advisor through acquisitions may continue to be billed under their legacy fee
schedule ("Legacy Fee Schedule") rather than the Standard Fee Schedule described above. Unlike the standard
fee schedule, Legacy Fee Schedules may use a blended fee structure, whereby different rates apply to different
tiers of assets.
As a result, Clients subject to a Legacy Fee Schedule may pay a different effective fee rate than they would under
the standard fee schedule. Procyon does not require legacy Clients to transition to its standard fee schedule.
Legacy Clients will continue to be billed under their existing fee schedule unless they separately agree to a
Standard Fee Schedule.
Procyon Advisors, LLC dba Procyon
1 Corporate Drive, Suite 225, Shelton, CT 06484
Phone: (475) 232-2704 | Fax: (475) 232-2747
www.procyon.net
The Client’s fees will take into consideration the aggregate assets under management with Advisor. Investment
advisory fees include financial planning and consulting services, unless separately engaged for those services. All
securities held in accounts managed by Procyon will be independently valued by the Custodian. The Advisor will
conduct periodic reviews of the Custodian’s valuation to ensure accurate billing.
The Advisor’s fee is exclusive of, and in addition to, any applicable securities transaction and custody fees, and
other related costs and expenses described in Item 5.C. below, which may be incurred by the Client. However,
the Advisor shall not receive any portion of commissions, fees, and costs.
Dynasty Network – As discussed above, the Advisor uses Dynasty’s TAMP services. Dynasty Platform Fees are
not included in the investment management fee paid to the Advisor. Each of the Platform Fee and independent
manager fees are determined by the particular program(s) and manager(s) with which the assets are invested and
are calculated based upon a percentage of the assets under management, as applicable. The fees are outline in
Client agreements.
The total fee reflected on the custodial statement will represent the sum of the Advisor’s investment management
fee, Platform Fee(s), and independent manager fee(s), accordingly. The Client should review such statements to
determine the total amount of fees associated with the requisite investments, and should review the investment
management agreement to determine the investment management fee pays to Procyon.
Use of Independent Managers – For Client account[s] implemented through an Independent Manager outside of
the TAMP, the Client’s overall fees will oftentimes include Procyon’s investment advisory fee (as noted above) plus
investment fees and/or platform fees charged by the Independent Manager[s], as applicable. The Independent
Manager may assume responsibility for calculating the Client’s fees and deduct all fees from the Client’s account[s].
Contributions and Withdrawals – The Client may make additions to and withdrawals from the Account[s] at any
time, subject to the Advisor’s right to terminate the Account. Additions may be in cash or securities provided that
the Advisor reserves the right to liquidate any transferred securities or decline to accept particular securities into a
Client’s Account[s]. The Client may withdraw assets on notice to the custodian, subject to the usual and customary
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