General Information
Premis Advisors, LLC ("Premis") was formed in 2016, and provides financial planning and portfolio
management services to its clients.
Bradley T. Chitty is the sole principal owner of Premis. Please see Brochure Supplement, Exhibit A,
for more information on Mr. Chitty and other individuals who formulate investment advice and have
direct contact with clients, or have discretionary authority over client accounts.
SERVICES PROVIDED
At the outset of each client relationship, Premis spends time with the client, asking questions,
discussing the client's investment experience and financial circumstances, and reviewing options for
the client. Based on its reviews, Premis generally develops with each client:
•a financial outline for the client based on the client's financial circumstances and goals, and the
client's risk tolerance level (the "Financial Profile" or "Profile"); and
•the client's investment objectives and guidelines (the "Investment Plan" or "Plan").
The Financial Profile is a reflection of the client's current financial picture and a look to the future goals
of the client. The Investment Plan outlines the types of investments Premis will make on behalf of the
client to meet those goals. The Profile and the Plan are discussed regularly with each client, but are
not necessarily written documents. With respect to any account for which Premis meets the definition
of a fiduciary under Department of Labor rules, Premis acknowledges that both Premis and its Related
Persons are acting as fiduciaries. Additional disclosure may be found elsewhere in this Brochure or in
the written agreement between Premis and Client.
Financial Planning
Premis offers financial planning services to those clients in need of such service in conjunction with
Portfolio Management services. Financial planning generally includes advice that addresses one or
more areas of a client's financial situation, such as estate planning, risk management, budgeting and
cash flow controls, retirement planning, education funding, and investment portfolio design.
Depending on a client's particular situation, financial planning may include some or all of the following:
•Gathering factual information concerning the client's personal and financial situation;
•Assisting the client in establishing financial goals and objectives;
•Analyzing the client's present situation and anticipated future activities in light of the client's
financial goals and objectives;
•Identifying problems foreseen in the accomplishment of these financial goals and objectives
and offering alternative solutions to the problems;
•Making recommendations to help achieve retirement plan goals and objectives;
•Designing an investment portfolio to help meet the goals and objectives of the client;
•Providing estate planning;
•Assessing risk and reviewing basic health, life and disability insurance needs; or
•Reviewing goals and objectives and measuring progress toward these goals.
Financial planning is not offered as a stand-alone service or for a separate fee, but is typically provided
in conjunction with the management of the portfolio.
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It is expressly understood that Premis and its representatives are not qualified to render legal advice or
prepare legal documents for the implementation of the client's financial plan. The client and his or her
personal attorney shall be solely responsible for the rendering of legal advice and/or preparation of all
legal matters.
Portfolio Management
As described above, at the beginning of a client relationship, Premis meets with the client, gathers
information, and performs research and analysis as necessary to develop the client's Investment Plan.
The Investment Plan will be updated from time to time when requested by the client, or when
determined to be necessary or advisable by Premis based on updates to the client's financial or other
circumstances.
To implement the client's Investment Plan,
Premis will manage the client's investment portfolio on a
discretionary basis. As a discretionary investment adviser, Premis will have the authority to supervise
and direct the portfolio without prior consultation with the client.
Notwithstanding the foregoing, clients may impose certain written restrictions on Premis in the
management of their investment portfolios, such as prohibiting the inclusion of certain types of
investments in an investment portfolio or prohibiting the sale of certain investments held in the account
at the commencement of the relationship. Each client should note, however, that restrictions imposed
by a client may adversely affect the composition and performance of the client's investment portfolio.
Each client should also note that his or her investment portfolio is treated individually by giving
consideration to each purchase or sale for the client's account. For these and other reasons,
performance of client investment portfolios within the same investment objectives, goals and/or risk
tolerance may differ and clients should not expect that the composition or performance of their
investment portfolios would necessarily be consistent with similar clients of Premis.
Separate Account Managers
When appropriate and in accordance with the Investment Plan for a client, Premis may recommend the
use of one or more Separate Account Managers, each a "Manager". Having access to various
Managers offers a wide variety of manager styles, and offers clients the opportunity to utilize more than
one Manager if necessary to meet the needs and investment objectives of the client. Premis will select
or recommend the Manager(s) it deems most appropriate for the client. Factors that Premis considers
in recommending/selecting Managers generally includes the client's stated investment objective(s),
management style, performance, risk level, reputation, financial strength, reporting, pricing, and
research.
The Manager(s) will generally be granted discretionary trading authority to provide investment
supervisory services for the portfolio. Under certain circumstances, Premis retains the authority to
terminate the Manager's relationship or to add new Managers without specific client consent. In other
cases, the client will ultimately select one or more Managers recommended by Premis. Fees paid to
such Manager(s) are separate from and in addition to the fee assessed by Premis. In any case, with
respect to assets managed by a Manager, Premis' role will be to monitor the overall financial situation
of the client, to monitor the investment approach and performance of the Manager(s), and to assist the
client in understanding the investments of the portfolio.
Third Party Wrap Programs
We are not the sponsor or the manager of a Wrap Fee Program, however from time to time and in
accordance with the Investment Plan for a client, Premis may utilize separate account managers that
offer wrap fee programs. Premis' fee is charged separately from and in addition to the wrap fee. Wrap
programs generally offer a wide variety of manager styles and offer clients the opportunity to utilize
more than one manager if necessary to meet the needs and investment objectives of the client.
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Private Funds
We provide discretionary management services to privately placed investment funds ("Private
Funds"). We manage Premis Hound Labs SPV - Allcations Funds LLC and Premis AKKR EBO II -
Premis Master LP.
Premis Hound Labs SPV - Allcations Funds LLC
The Special Purpose Vehicle ("SPV") strategy is to provide access to a single private company, Hound
Labs, Inc.
Premis AKKR EBO II - Premis Master LP
The Special Purpose Vehicle ("SPV") strategy is to provide access to Accel-KKR Emerging Buyout
Partners II, LP with an aggregated commitment.
Assets Under Management
As of December 31, 2023, we provide continuous management services for $28,623,543 in client
assets on a discretionary basis, and $145,506,384 in client assets on a non-discretionary basis.