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A. Fusion Capital, LLC
Fusion Capital, LLC (“Fusion” or “the firm”), is a South Carolina limited liability company and SEC-
registered investment adviser principally owned by Jason Mengel and Dan Webster. Fusion has
been in operation since August 2010.
B. Advisory Services Offered
Fusion is an independent investment advisory firm offering a variety of financial services to
individuals and high-net-worth individuals, trusts, retirement plans, pension and profit sharing
plans, charitable organizations, corporations, partnerships, and other legal entities.
For its discretionary asset management services, Fusion receives a limited power of attorney to
effect securities transactions on behalf of its clients that include securities and strategies
described in Item 8 of this Brochure.
Discretionary Asset Management Services
Fusion’s discretionary asset management services are predicated on the client's investment
objectives, goals, tolerance for risk, and other personal and financial circumstances. Fusion will
analyze each client's current investments, investment objectives, goals, age, time horizon,
financial circumstances, investment experience, investment restrictions and limitations, and risk
tolerance and implement a portfolio consistent with such investment objectives, goals, risk
tolerance, and related financial circumstances. Fusion’s objective is to review the client’s tax,
financial, and estate planning objectives and goals in connection with the client’s investment
objectives, goals, tolerance for risk, and other personal and financial circumstances and make
appropriate recommendations and implementation decisions. Fusion may engage third-party
service providers to assist with the tax and estate planning portion of the services provided to
clients. In addition, Fusion may utilize third-party software to analyze individual security holdings
and separate account managers utilized within the client’s portfolio.
Fusion may prepare an investment policy statement based on the client’s investment objectives,
goals, and tolerance for risk and such other factors unique to the client and provide appropriate
recommendations and implementation decisions. On a quarterly basis, Fusion, in connection
with a third-party service provider, will provide clients with reports regarding the performance of
their portfolios. In addition, Fusion will monitor those portfolios and make additional
recommendations and implementation decisions from time to time to rebalance and/or
reallocate each client's investments in accordance with such client’s investment policy statement,
as applicable.
Fusion’s investment advisory services will take into account the client's personal financial
circumstances, investment objectives, and tolerance for risk (e.g., cash-flow, tax, and estate).
Fusion’s engagement with the client will include, as appropriate, the following:
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▪ Providing assistance in reviewing the client's current investment portfolio against the
client's personal and financial circumstances as disclosed to Fusion in response to a
questionnaire and/or in discussions with the client and reviewed in meetings
with Fusion.
▪ Analyzing the client's financial circumstances, investment holdings and strategy, and
goals.
▪ Providing assistance in identifying a targeted asset allocation and portfolio design.
▪ Implementing and/or recommending securities and strategies as itemized in Item 8 of
this Brochure.
▪ Reporting to the client on a quarterly basis—or at some other interval agreed upon with
the client—information on contributions and withdrawals in the client's investment
portfolio, and the performance of the client's portfolio measured against appropriate
benchmarks (including benchmarks selected by the client).
▪ Proposing changes in the client's investment policy statement and/or investment
portfolio in consideration of changes in the client's personal circumstances, investment
objectives and tolerance for risk, the performance record of any of the client's
investments, and/or the performance of any fund retained by the client.
In addition to providing Fusion with information regarding their personal financial
circumstances, investment objectives, and tolerance for risk, clients are obligated to provide
Fusion with any reasonable investment restrictions that should be imposed on the management
of their portfolio, and to promptly notify Fusion in writing of any changes in such restrictions or
in their personal financial circumstances, investment objectives, goals, and tolerance for risk. On
a quarterly basis, Fusion’s reports to clients will remind them of their obligation to inform Fusion
of any such changes or restrictions that should be imposed on the management of their
account. Fusion will also contact clients at least annually to determine whether there have been
any changes in their personal financial circumstances, investment objectives, and tolerance for
risk.
Fusion Model Portfolios
Fusion offers a series of actively managed model portfolios for clients, subject to the
appropriateness of a particular model portfolio for the client’s individual personal and financial
circumstances, investment objectives, and tolerance for risk. The model portfolios are
described in Item 8 of this brochure.
Selection of Other Advisers
Fusion may recommend third-party investment managers to manage all or a portion the client’s
portfolio in accordance with its due diligence procedures detailed in Item 8 of this Brochure.
Fees for these services are detailed in Item 5 of this Brochure.
C. Client-Tailored Services and Client-Imposed Restrictions
Each client’s account will be managed on the basis of the client’s financial situation and
investment objectives and in accordance with any reasonable restrictions imposed by the client
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on the management of the account—for example, restricting the type or amount of security to
be purchased in the portfolio.
D. Wrap Fee Programs
Fusion does not participate in wrap fee programs. (Wrap fee programs offer services for one all-
inclusive fee.)
E. Client Assets Under Management
As of December 31, 2023, Fusion had approximately $359,718,011 of discretionary assets and $0
of non-discretionary assets under supervision.
Item 5: Fees and Compensation