Fees and Compensation — Form ADV Part 2A (2/16/2023)
[Brochure]
Item 5: Fees and Compensation
A. Fee Schedule
Asset-Based Fees for Portfolio Management
Total Assets Under Management Annual Fee
$1,000,000 - $25,000,000 1.00%
$25,000,000 - $50,000,000 0.75%
$50,000,000 - $100,000,000 0.50%
These fees are generally negotiable and the final fee schedule is attached as Exhibit II of
the Investment Advisory Contract. Clients may terminate the agreement without penalty
for a full refund of Ten-Capital's fees within five business days of signing the Investment
Advisory Contract. Thereafter, clients may terminate the Investment Advisory Contract
generally with 30 days' written notice.
Ten-Capital bills based on the balance on the first day of the billing period.
Selection of Other Advisers Fees
Ten-Capital will receive its standard fee on top of the fee paid to the third party adviser.
This relationship will be memorialized in each contract between Ten-Capital and each
third-party adviser. The fees will not exceed any limit imposed by any regulatory agency.
The notice of termination requirement and payment of fees for third-party investment
advisers will depend on the specific third-party adviser selected.
These fees are negotiable.
Ten-Capital may engage in the selection of third-party money managers, but does not
have any such arrangements in place at this time. This service may be canceled with 30
days’ notice.
B. Payment of Fees
Payment of Asset-Based Portfolio Management Fees
Asset-based portfolio management fees may be invoiced and billed directly to the client
on a quarterly basis. Fees are paid in advance.
Payment of Selection of Other Advisers Fees
The timing, frequency, and method of paying fees for selection of third-party managers
will depend on the specific third-party adviser selected.
C. Client Responsibility For Third Party Fees
Clients are responsible for the payment of all third party fees (i.e. custodian fees,
brokerage fees, mutual fund fees, transaction fees, etc.). Those fees are separate and
distinct from the fees and expenses charged by Ten-Capital. Please see Item 12 of this
brochure regarding broker-dealer/custodian.
D. Prepayment of Fees
Ten-Capital collects fees in advance. Refunds for fees paid in advance will be returned
within fourteen days to the client via check.
For all asset-based fees paid in advance, the fee refunded will be equal to the balance of
the fees collected in advance minus the daily rate* times the number of days elapsed in
the billing period up to and including the day of termination. (*The daily rate is calculated
by dividing the annual asset-based fee rate by 365.)
E. Outside Compensation For the Sale of Securities to Clients
Neither Ten-Capital nor its supervised persons accept any compensation for the sale of
securities or other investment products, including asset-based sales charges or service fees
from the sale of mutual funds.
Account Minimums and Types of Clients — Form ADV Part 2A (2/16/2023)
[Brochure]
Item 7: Types of Clients
Ten-Capital generally provides advisory services to High-Net-Worth Individuals.
Minimum Account Size
There is no account minimum for any of Ten-Capital’s services.
AUM Breakdown
Accounts
AUM ($M)
By Client Type
(a) Individuals (other than high net worth individuals)
0
0.0
(b) Individuals (high net worth individuals)
8
113.5
(c) Banking or thrift institutions
0
0.0
(d) Investment companies
0
0.0
(e) Business development companies
0
0.0
(f) Pooled investment vehicles
0
0.0
(g) Pension and profit sharing plans
0
0.0
(h) Charitable organizations
0
0.0
(i) State or municipal government entities
0
0.0
(j) Other investment advisers
0
0.0
(k) Insurance companies
0
0.0
(l) Sovereign wealth funds and foreign official institutions
0
0.0
(m) Corporations or other businesses not listed above