Firm Description
Beta Capital Management, LLC (“Creand” or the “Adviser”) was founded in 2011 and
offers investment advisory services to individuals, institutions, trusts, estates, corporations
and other business entities. Creand’s investment advisory services provide clients with
investment advice and recommendations that are recommended to be used to implement
their financial plans.
Effective September 27, 2021, the Adviser operates under the Creand Management and/or
Creand Wealth Management brand name. The change is part of the international
unification of Crèdit Andorrà Financial Group under the new Creand brand, enhancing
synergies between financial centers and improving efficiency to meet the new challenges
of the future.
Investment advice is an integral part of financial planning and Creand advises clients
regarding securities transactions, cash flow, college planning, and retirement planning.
Investment advice is provided on either a discretionary or non- discretionary basis, with
each client making the final decision on investment selection when being advised on a non-
discretionary basis. When the Adviser is advising clients on a discretionary basis, Creand
can make investment decisions surrounding asset allocation and place trades for clients
(without prior consent) under a limited power of attorney authority.
Principal Owners
100% of Creand is principally owned by Credit Andorra U.S.G.P. LLC. For more
information related to the ownership or principal structure of the Adviser, please contact
Creand or visi
t www.adviserinfo.sec.gov.
Types of Advisory Services
Creand provides investment advisory services primarily to high net-worth individuals.
More specifically, Creand provides asset management, and advisory services as well as
furnish investment advice through consultations on both a fixed fee and/or hourly basis. On
a periodic basis, Creand furnishes advice to clients on matters not involving securities, such
as financial planning matters, taxation issues, and trust services that may include estate
planning.
Tailored Relationships
The goals and objectives for each client are documented by the Adviser and will vary by
client. Investment policy statements can be created to reflect the stated goals and objectives
of each client. Creand’s Investment Adviser Representatives (“IARs”) work with their
clients to identify their investment goals and objectives, as well as risk tolerance, in order
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to create a portfolio allocation designed to complement the client’s financial situation and
personal circumstances.
The initial meeting to review clients’ investment portfolios may be conducted by telephone
or in person and is free of charge. The initial meeting is considered an exploratory
interview to determine the extent to which financial planning and investment management
may be beneficial to each potential and current client.
The IAR can periodically rebalance the client’s account to maintain the initially agreed
upon strategic and tactical asset allocation. However, no changes are made to the agreed-
upon asset allocation in non-discretionary accounts without prior client review and consent.
Clients have ready access to their respective IAR. IARs are not required to be available for
unscheduled or unannounced visits by clients. However, IARs are expected to periodically
meet with clients and should generally be available to take client telephone calls on
advisory-related matters. Each client has the opportunity to place reasonable restrictions
on the type of investments to be held in their portfolio(s).
Other professionals (e.g., lawyers, accountants, insurance agents, etc.) may be
recommended to clients or engaged directly by the client on an as-needed basis. Any
potential conflict of interest related to recommendations of other professionals will be
disclosed to the client in the event they should occur. Creand’s Advisory Agreements are
not assigned without client consent.
Types of Agreements
Creand offers a variety of customized advisory services, which are outlined and defined in
each client’s investment advisory agreement.
Advisory Service Agreement
Most clients choose to have Creand manage their assets on an ongoing basis in order to
obtain continued in-depth investment advice and planning. All aspects of the client’s
financial affairs are reviewed, which may include those of their children. Realistic and
measurable goals are set and objectives to reach those goals are defined. As goals and
objectives change over time, suggestions are made and implemented on an ongoing basis.
The scope of work and fee for an Investment Advisory Service Agreement
is provided to
the client in writing prior to the start of the relationship. An Advisory Service Agreement
includes: cash flow management; investment management (including performance
reporting); education planning; retirement planning; estate planning; as well as the
implementation of recommendations within each area.
The annual Advisory Service Agreement fee is based on a percentage of the investable
assets and clients have the option to choose from the following schedules most appropriate
for them:
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Fee Schedule 1
INVESTMENT MANAGEMENT FEES OF CREAND
Assets Under Mgmt Advisory Fee
(does not include transaction fees
and ticket charges)
Between $1-$3 Million 1.55%
Between $3-$10 Million 1.25%
Between $10-$25 Million 0.95%
Between $25 Million or greater 0.65%
Orders executed through its affiliate broker-dealer, Beta Capital Securities, LLC (“Creand Securities”)
will be assessed a $100.00 ticket charge per transaction.
FUNDS TO BE INVESTED: US$
INVESTMENT MANAGEMENT FEE TO BE CHARGED:
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Fee Schedule 2
INVESTMENT MANAGEMENT FEES OF CREAND MANAGEMENT
Fixed Advisory Fee of 0.375% plus Commissions & related transaction fees and ticket charges assessed
by its affiliate broker-dealer, Creand Securities.
Creand Securities
Commissions
Fee Minimum Ticket Charge
CORPORATE BOND 1.00% $150.00
MUNICIPAL BOND 1.00% $150.00
OPTIONS 1.00% $100.00
EQUITY below $5 1.00% $100.00
EQUITY between $5 - $100 1.00% $100.00
EQUITY above $100 1.00% $100.00
TREASURY BILL less 1 year 0.30% $150.00
TREASURY NOTE more 1 year 0.60% $150.00
MUTUAL FUNDS EQUITY 1.50% $100.00
MUTUAL FUNDS FIXED INCOME 1.00% $100.00
STRUCTURES PRODUCTS 2.00% $150.00
FUTURES (HALF TURN) $15.00 $15.00
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Hourly Planning
Creand provides hourly advisory and/or planning services for clients who need advice on
a limited scope of work. The hourly rate for limited scope engagements varies, yet will not
exceed $500 per hour.
_____________________________________________________________________________________________________
Asset Management
Client’s portfolio may consist of a variety of financial products, including, but not limited
to: exchange-traded funds (“ETFs”), mutual funds, equities, options, and fixed income
securities. The investment strategies utilized and portfolios constructed and managed
depend on the individual client’s investment objectives and goals as provided to the IAR.
Initial public offerings (“IPO’s”) are not available to clients of Creand.
Please note that investment products are typically purchased or sold through a brokerage
account. The brokerage firm typically charges a commission for investment products and
Creand almost exclusively recommends clients to its affiliated FINRA broker-dealer
member firm, Creand Securities. As a broker/dealer, the Firm offers a variety of financial
products and/or services and may render advice as to the value and/or advisability of
purchasing or selling securities, without receiving additional compensation, as such
activities are solely incidental to the conduct of its business as a broker-dealer.
The annual Asset Management Service Agreement fee is based on a percentage of the
investable assets according to the following above schedules available to choose from.
Client relationships can be established and exist where the fees are higher or lower than the
fee schedules provided above. Please be advised that clients can choose to utilize a different
broker-dealer, aside from Creand Securities as similar products and services can be
purchased for a lower cost than offered by the Firm.
As of December 31, 2023, Creand managed approximately $375,965,310 in assets on a
discretionary basis and approximately $136,336,801 in assets on a non-discretionary basis.
Termination of Agreement
Although the Advisory Service Agreement is perpetual, the length of service can be
terminated by the client at its discretion. Similarly, the client or the Adviser can terminate
the Investment Advisory Service Agreement by written notice to the other party with a thirty
day advance notice or as agreed upon otherwise between the client and the Adviser.
If an agreement is terminated during a time period in which the client has already paid
Creand its advisory fees in advance, then the Adviser will reimburse, on a pro-rata basis,
the remaining advisory fees collected for any service not rendered. These fees will then be
sent to the client’s address of record, unless otherwise directed by the client, within (30)
days of termination of the agreement.
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