Noyes Capital Management, LLC (“Noyes Capital”) provides investment management or investment advisor services on a fee-only basis. This fee is charged quarterly based upon a percentage of the market value of the assets being managed. For billing purposes, a client’s portfolio value is computed based upon a family’s total assets being managed by Noyes Capital at the end of the prior quarter. Fees are prorated and charged quarterly in advance.
Discretionary Equity & Balanced Portfolios:
PORTFOLIO VALUE Quarterly Fee Effective Annual Fee
up to $749,999 0.25% 1.00%
$750,000 -$4,999,999 0.20% 0.80% $5,000,000-$9,999,999 0.15% 0.60%
greater than $9,999,999 negotiable
Minimum Quarterly Fee $500
Fixed Income Accounts & Passive Accounts [401(K), annuities]:
PORTFOLIO VALUE Quarterly Fee Effective Annual Rate
up to $749,999 0.15% 0.60%
$750,000 - $4,999,999 0.10% 0.40%
$5,000,000 - $9,999,999 0.08% 0.32%
greater than $9,999,999 negotiable
Minimum Quarterly Fee $500
Custodian and Mutual fund fees - Noyes Capital’s management fee is exclusive of, and in addition to brokerage commissions, transaction fees and other related costs and expenses from the custodian or mutual funds. These costs are incurred by the client. However, Noyes Capital shall not receive any portion of these custodian or mutual fund commissions, fees and costs for its compensation. Noyes Capital does receive research and technology products from Fidelity Investments and various mutual funds on a non-fee basis which may be construed as a conflict of interest.
Billing - Fees are billed on a quarterly basis, in advance. The fees are calculated based upon the total market value of your assets as reported on your quarter-ending custodian statement (Fidelity Investments). Noyes Capital deducts the investment management fee directly from your accounts. Management fees for your annuities and 401K’s are typically billed to your taxable account. From time to time we make exceptions to this rule at management’s discretion.
Excluded Assets - Certain investments that are held in client accounts may be excluded from billable assets under management. These excluded investments or accounts must be agreed to in writing by Noyes Capital Management and listed as excluded in the quarterly invoice. Noyes Capital Management, LLC assumes no management or supervisory responsibility for excluded investments. Decisions regarding excluded accounts and investments are the sole responsibility of the client.
Non-discretionary Accounts - For certain clients, our services will include non-discretionary advice, not involving continuous and regular supervisory services. For such clients, Noyes Capital will make recommendations, perform analysis and provide occasional account review. The client is under no obligation to act upon any of the recommendations made by Noyes Capital under this engagement. The client retains absolute discretion over all such implementation decisions and is free to accept or reject any of the Registrant’s recommendations. The quarterly fee for these services shall be 0.125% of advised assets with a minimum quarterly fee of $2,000.
College 529 accounts - Noyes Capital does not charge ongoing investment management fees for any 529 accounts. Noyes Capital does not assume any management responsibility or reporting responsibility for 529 accounts. Decisions regarding these accounts and their investments are the sole responsibility of the client. Noyes Capital does charge a fee for document preparation or withdrawal assistance from 529 accounts. This fee is typically $100 per account per transaction but subject to management discretion.
Minimum Asset Requirement - Noyes Capital seeks families that have $750,000 to $10 million of investable assets. However, we will work with families with a slightly lower asset range if there is a good fit. We have a responsibility to our existing clients not to dilute our efforts.
Other - The Registrant, in its sole discretion, may negotiate to waive its stated account minimum or charge a lesser management fee based upon certain criteria (i.e., anticipated future earning capacity, anticipated future additional assets, dollar amount of assets to be managed, related accounts, account composition, pre-existing client, account retention, pro bono activities, etc.). The Registrant, in its sole discretion, may also charge a lesser management fee to the firm’s employees and their families.
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