Item 5 - Fees and Compensation
Advisory Fees and Compensation
Galaxy Asset Allocation Program (GAAP) Fee Schedule
For GAAP accounts, Symphonic will charge a program fee according to the following graduated schedule:
Value of Account Fee
On the first $100,000 0.35%
On the next $250,000 0.30%
On assets over $350,000 0.25%
Money Management Program
The table below sets forth the graduated basic fee schedule for City National Rochdale, the affiliated
investment advisory firm to which that Symphonic introduces high net-worth individuals.
Value of Account Program Fee
First $2,000,000 1.00%
Next $3,000,000 0.80%
Next $5,000,000 0.60%
Amount Over $10,000,000 0.50%
In addition to the Galaxy Asset Allocation Program and Money Management Program fees, clients will
be assessed a fee ranging from 0.80% to 1.95% for services provided by their Symphonic investment
advisor representatives. These services may include risk profiling, asset allocation, portfolio analysis,
insurance services, and retirement, financial and estate planning.
Symphonic Tactical Portfolio
Account Value Program Fee
$300,000 to $1,000,000 1.00%
In addition to the program fee, clients will be assessed a fee ranging from 0% to 1% for services provided
by their Symphonic investment advisor representative. These services may include risk profiling, asset
allocation, portfolio analysis, insurance services, and retirement, financial and estate planning.
Symphonic’s fees are negotiable, at Symphonic’s sole discretion, and thus may vary from the above
schedule, depending on the size of the account and other factors. For the most part, fees are payable
quarterly, in advance, based on the value of the account on the last day of the previous quarter.
The specific fees and manner in which fees are charged and calculated are described in your investment
advisory agreement. You 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. You may be charged different fees than similarly situated clients for the same services. You
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.
Payment of Fees
The client agreement authorizes Symphonic to deduct the management fee from the client’s custodial
account.
Prepayment of Fees
For clients who pay management fees to Symphonic quarterly and in advance, upon the termination of
a client account during a calendar quarter, the management fee will be prorated for the days remaining
in that calendar quarter and any prepaid, unearned fees will be refunded to the relevant client. Fees
refunded are those in excess of the portion of fees collected for the quarter prior to the account closure
date.
Other Fees and Compensation
Symphonic’s investment management fees generally are exclusive of brokerage commissions,
transaction fees, the client’s financial advisor fees and other related costs that clients will pay. Clients
may incur other charges imposed by custodians, brokers, and other third parties such as fees charged by
managers, custodial fees, deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and
electronic fund fees, and other fees and taxes on brokerage accounts and securities transactions. There
are no transaction fees in Galaxy Asset Allocation Program (GAAP) or Symphonic Tactical Portfolio (STP).
The Pershing custody platform, however, has certain account related fees disclosed in a separate
expense schedule. CNR Securities or Symphonic Securities acts as an introducing broker for client
accounts and CNR Securities or Symphonic Securities charges additional commission fees for the
purchase and sale of securities in client accounts that are not GAAP or Symphonic Tactical Portfolio
accounts. For accounts that use the custody and brokerage services of CNR Securities or Symphonic
Securities (affiliates of Symphonic and City National Rochdale), City National Rochdale and its employees
and officers receive a benefit from the additional fees clients pay.
Some Symphonic investment adviser representatives offer financial planning services to their advisory
clients at an additional fee. Generally, there will be an hourly charge for these services which will be paid
in addition to any asset-based advisory fees listed above, although some Symphonic investment adviser
representatives charge clients a set fee.
Mutual Fund and Interval Fund Fees and Compensation
Clients invested in mutual funds will bear a proportionate share of the fees and expenses of any mutual
fund in which their assets are invested. Mutual funds, other pooled funds and ETFs also charge internal
management fees which are disclosed in the applicable fund’s prospectus or subscription documents. The
mutual fund fees and expenses are in addition to Symphonic’s investment management fees reflected in
the fee schedules above. Mutual fund fees and expenses include investment advisory, administrative,
distribution, transfer agent, custodial, legal, audit and other customary fees and operational expenses
charged by mutual funds. The client is encouraged to read the prospectuses of the mutual funds in which
their account assets are invested for a more complete explanation of these fees and expenses. In many
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