Sierra Capital LLC

Item 5    Fees and Compensation

                         INVESTMENT SUPERVISORY SERVICES​
                       FOR INDIVIDUAL PORTFOLIO MANAGEMENT
We are paid based on a percentage of the client's assets under management (excluding any
margin balances) which typically range from .20% to 1.25%, depending on the size of the
relationship. Our Standard Pricing is:
                                    $0 - $5,000,000 1.25%
                            Next $5,000,000 to $10,000,000 0.85%
                            Next $10,000,000 to $25,000,000 0.75%
                            Next $25,000,000 to $50,000,000 0.65%
                              Next $50,000,000 and Above 0.55%
but can be altered as needed. However, at times, a combination of assets under management
and performance-based fees (refer to Item 6) are arranged as well as fixed flat fees. Sierra
Capital’s billing system will calculate the fee based on end of quarter asset balances not
adjusting for credits or debits during the quarter.
Our firm has the ability to directly debit fees from client’s accounts on an account-by-account
basis. As part of this billing process, the client's custodian is advised of the amount of the fee
to be deducted from that client's account. On at least a quarterly basis, the custodian is
required to send to the client a statement showing all transactions within the account during
the reporting period. In addition, Sierra Capital uploads quarterly invoices to the client’s portal.
PLEASE COMPARE OUR MONTHLY INVOICES VS. OFFICIAL CUSTODIAL STATEMENTS
FOR ACCURACY.
Statements and/or electronic feeds from custodians are used by Sierra Capital to calculate
fees. This may differ from custodian statements due to timelier third party pricing. Clients
should contact us directly if they believe that there may be an error in their statement or bill.
Our firm is deemed to have custody for certain clients.
A minimum of $10,000,000 of assets under management is required for our services. This
account size may be negotiable under certain circumstances. Sierra Capital LLC may group
certain related client accounts for the purposes of achieving the minimum account size and
determining the annualized fee.
Limited Negotiability of Advisory Fees: Although Sierra Capital LLC has established the
aforementioned fee schedule(s), we retain the discretion to negotiate alternative fees on a
client-by-client basis. Client facts, circumstances and needs will be considered in determining
the fee schedule. These include the complexity of the client, assets to be placed under
management, anticipated future additional assets; related accounts; portfolio style, account
composition, reports, among other factors. The specific annual fee schedule will be identified
in the contract between Sierra Capital and each client.
Sierra Capital LLC does not control the fees or the billing arrangements of any selected
investment manager. For a complete description of the fee arrangement including billing
practices, minimum account requirements and account termination provisions, clients should

review the independent investment manager's Prospectus/Offering Memorandum /Firm
Brochure or other disclosure document.
The underlying manager can charge a fee of up to 3% annually of assets under management
and up to 30 % of the net profits each year.
Sierra Capital provides consulting sub-advisory services where the fee schedule is the same
as our standard fee schedule and may be negotiated.

                                  GENERAL INFORMATION
Termination of the Advisory Relationship:  A client agreement may be canceled at any
time, by either party, according to client investment management agreement. As disclosed in
the investment management agreement, certain fees are paid in advance or arrears of
services provided. Upon termination of any account, any prepaid, unearned fees will be
refunded. In calculating a client’s reimbursement of fees, we will pro rate the reimbursement
according to the number of days remaining in the billing period.
Mutual Fund, Hedge Fund and Other Investment Product Fees and ETFs:  All fees paid
to Sierra Capital LLC for investment advisory services are separate and distinct from the fees
and expenses charged by mutual funds, Hedge Funds, ETFs or other investment products to
their shareholders. These fees and expenses are described in each fund's prospectus and
offering memorandum. These fees will generally include a management fee, other fund
expenses, and a possible distribution fee. If the fund also imposes sales charges, a client may
pay an initial or deferred sales charge. A client could invest in a mutual fund directly, without
our services. In that case, the client would not receive the services provided by our firm which
are designed, among other things, to assist the client in determining which mutual fund,
hedge fund, ETF or investment product are most appropriate for each client's financial
condition and objectives. Accordingly, the client should review both the fees charged by the
funds and our fees to fully understand the total amount of fees to be paid by the client and to
thereby evaluate the advisory services being provided.
Additional Fees and Expenses:  In addition to our advisory fees, clients are also responsible
for the fees and expenses charged by custodians and imposed by broker dealers, including,
but not limited to, any transaction charges imposed by a broker dealer with which an
independent investment manager effects transaction for the client's account(s). Please refer
to the "Brokerage Practices" section (Item 12) of this Form ADV for additional information.
ERISA Accounts: Sierra Capital LLC is deemed to be a fiduciary to advisory clients that are
employee benefit plans or individual retirement accounts (IRAs) pursuant to the Employee
Retirement Income and Securities Act (“ERISA”). As such, our firm is subject to specific
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Item 7      Types of Clients
Sierra Capital LLC provides advisory services to the following types of clients:
●​ Individuals
●​ Trusts
●​ High Net Worth Individuals
●​ Pension and profit-sharing plans (other than plan participants)
●​ Charitable Organizations
●​ Corporations
●​ Banking Institutions
●​ Insurance Companies