Item 5 – Fees and Compensation
How We Are Compensated for Our Advisory Services
Our fees vary among the different types of advisory services we offer and may be negotiated at our sole discretion.
The specific fees and manner in which fees are charged and calculated are described in your investment advisory
agreement. Clients should carefully review the investment advisory agreement prior to signing it.
Fees for our advisory services may be higher than fees charged by other advisers who offer similar services. A client
may be charged different fees than similarly situated clients for the same services. Clients should carefully review
this brochure to understand the fees and other sources of compensation that exist among our services prior to
entering into an investment advisory contract with our firm.
Investment and Wealth Management Services
Pursuit Wealth Management offers investment and wealth management services for an annual fee based on the
amount of assets under the firm’s management. Fees are generally billed in advance each calendar quarter based on
the value of the assets in the account on the last day of the previous calendar quarter, as valued by the custodian.
Pursuit Wealth Management, in our sole discretion, may waive the minimum annual fee based upon certain
criteria, including, but not limited to, anticipated future earning capacity and/or additional assets, dollar amount of
assets to be managed, asset type, related accounts, legacy assets, account composition, pre-existing client
relationships, account retention, and pro bono activities. For investment and wealth management services Pursuit
Wealth Management provides with respect to certain client holdings (e.g., held-away assets, 529 plans, etc.), we
may negotiate a fee rate that differs from our standard fee schedule.
Our maximum annual advisory fee is 1.75%.
This fee schedule may be based on cumulative household assets under management. However, certain ERISA rules
prevent householding corporate plans with personal assets for fee reductions. Clients should refer to their advisory
agreement for their specific fee rate(s).
Separate Financial Planning and Consulting Services
Fees for financial planning and/or consulting services can be billed on a fixed rate. There is no minimum fee
required for this service, however the financial analysis fee shall not exceed $20,000. Pursuit Wealth Management
requires a retainer for the services which is payable upon entering the agreement. The balance of the fee is due and
payable upon receipt of the final consulting or planning services. Pursuit Wealth Management may agree with
clients to charge fixed fees for consulting. Based on the task(s) to be performed, Pursuit Wealth Management and
the client may agree on a fixed fee based on an estimate of the number of hours necessary for completion. Pursuit
Wealth Management may request a deposit to initiate consulting services. Pursuit Wealth Management will not
request the prepayment of fees more than $1,200 more than six months in advance.
Selection of Other Independent Managers
Fees for other Independent Managers used to manage all or a portion of a client’s account are set forth by the
Independent Manager and are in addition to Pursuit Wealth Management’s fees. You should refer to the
Independent Manager’s investment management agreement and Form ADV Part 2A Brochure for information on
their fees and compensation.
Fiduciary and Non-Fiduciary Services for Plan Sponsors
Fees for retirement plan sponsors are either set at a flat rate, hourly rate or based upon the value of the plan assets
that are the subject of the consulting services and are generally payable in arrears on a quarterly basis. Fees for one-
time projects are payable either upon completion of the project or half paid upon execution of the agreement with
the balance due upon completion of the project. A graduated fee schedule may be set by the firm for fees based on
the value of plan assets. Such fee schedule will be described in the services agreement. Clients should review their
services agreement with our firm for their specific fee arrangement.
Payment of Fees
Clients may elect to be billed for fees or authorize Pursuit Wealth Management to instruct the account custodian to
directly debit fees from the client’s account. Accounts initiated or terminated during a calendar quarter will be
charged a prorated fee.
Fees for our investment and wealth management services are generally billed in advance. Upon termination of your
advisory agreement with our firm, we will promptly refund any prepaid, unearned fees.
• For investment and wealth management services, refunds are calculated by taking the total advisory fee
billed for the calendar quarter, dividing that amount by the number of days in the calendar quarter and
multiplying that amount by the number of days services were not provided during the calendar quarter.
• For financial planning and consulting services, refunds are calculated based on the value of the services that
were completed prior to termination of the advisory agreement.
• Fees for fiduciary and non-fiduciary consulting services for plan sponsors are generally payable in arrears.
For one-time projects that are partly paid upon execution of the agreement, the amount of the refund is
calculated based on the value of the services that were completed. Any earned, unpaid fees will be due and
payable upon termination of the advisory contract. Clients should carefully review their services agreement
with our firm for their specific fee arrangement.
Other Types of Fees and Expenses Clients May Incur
Clients may incur certain charges imposed by custodians, brokers, third-party investments and other third parties,
such as custodial fees, self-regulatory organization transaction fees, odd-lot differentials, transfer taxes, wire transfer
...