A. Services Verum Partners, LLC (“Verum”) provides customized wealth management services for its Clients. This Wrap Fee Program Brochure is provided as a supplement to the Verum Partners Disclosure Brochure (Form ADV 2A). This Wrap Fee Program Brochure is provided along with the complete Disclosure Brochure to provide full details of the business practices and fees when selecting Verum Partners as your investment adviser.
As part of the wealth management fees noted in Item 5 of the Disclosure Brochure, Verum Partners includes normal securities transaction fees as part of the overall wealth management fee. Securities regulations often refer to this combined fee structure as a “Wrap Fee Program.” The Adviser's recommended Custodian does not charge securities transaction fees for exchange-traded-funds (“ETFs”) and equity trades in a Client's account, provided that the account meets the terms and conditions of the Custodian's brokerage requirements. However, the Custodian typically charges for mutual funds and other types of investments. The Adviser sponsors the Verum Partners Wrap Fee Program.
The sole purpose of this Wrap Fee Program Brochure is to provide additional disclosure relating the combination of securities transaction fees into the single “bundled” wealth management fee. This Wrap Fee Program Brochure references back to the Verum Partners Disclosure Brochure in which this Wrap Fee Program Brochure serves as an Appendix. Please see Item 4 – Advisory Services of the Disclosure Brochure for details on Verum Partners’ investment philosophy and related services. B. Program Costs Advisory services provided by Verum Partners are offered in a wrap fee structure whereby normal securities transaction costs are included in the overall wealth management fee paid to Verum Partners.
As the level of activity in a Client’s account[s] may vary from year to year, the annual cost to the Client may be more or less than engaging for advisory services where the transactions costs are borne separately by the Client. The cost of the Wrap Fee Program varies depending on services to be provided to each Client, however, the Client is not charged more if there is higher trading activity in the Client’s account[s]. A Wrap Fee structure presents a conflict of interest as the Adviser is incentivized to limit the number of trades placed in the Client’s account[s] or to utilize securities that do not have transaction fees.
As noted above, the Adviser's recommended Custodian does not charge securities transaction fees for ETF and equity trades in a Client's account, provided that the account meets the terms and conditions of the Custodian's brokerage requirements. However, the Custodian typically charges for mutual funds and other types of investments. As such, the Adviser is incentivized to utilize ETFs and other equity securities to limit the overall cost to the Adviser. The Adviser will only place Client assets into a Wrap Fee Program when it is believed to be in the Client’s best interest. Please see Item 5 – Fees and Compensation of the Disclosure Brochure for complete details on fees. C. Fees Wealth management fees are paid quarterly, in advance of each calendar quarter, pursuant to the terms of the wealth management agreement. Fees may be offered as an annual asset-based fee or a fixed annual fee. Asset-based fees are based on the market value of assets under management at the end of the prior calendar quarter. Wealth management fees are based on the following tiered schedule: Assets Under Management ($)Annual Rate (%) Up to $3,000,0001.00% $3,000,000 to $5,000,0000.75% $5,000,000 to $15,000,0000.50% $15,000,000 to $20,000,0000.40% $20,000,000 and Over0.25% Page 3 Fixed fees may also be negotiated between the

Adviser and the Client. The minimum annual fee for comprehensive wealth management services is $10,000. Please see Item 7 below.
The wealth management fee in the first quarter of service is prorated from the inception date of the account[s] to the end of the first quarter. Fees may be negotiable at the sole discretion of the Adviser. The Client’s fees will take into consideration the aggregate assets under management with Adviser. All securities held in accounts managed by Verum Partners will be independently valued by the designated Custodian. Verum Partners will conduct periodic reviews of the Custodian’s valuations.
Clients may make additions to and withdrawals from their account[s] at any time, subject to Verum Partners’ right to terminate an account. Additions may be in cash or securities provided that Verum Partners reserves the right to liquidate any transferred securities or decline to accept particular securities into a Client’s account[s]. Clients may withdraw account assets on notice to Verum Partners, subject to the usual and customary securities settlement procedures. However, Verum Partners designs its portfolios as long-term investments and the withdrawal of assets may impair the achievement of a Client’s investment objectives. Verum Partners may consult with its Clients about the options and ramifications of transferring securities. However, Clients are advised that when transferred securities are liquidated, they are subject to transaction fees, fees assessed at the mutual fund level (i.e., contingent deferred sales charge) and/or tax ramifications.
As noted above, the Wrap Fee Program includes normal securities trading costs incurred in connection with the discretionary investment management services provided by Verum Partners. Securities transaction fees for Client-directed trades may be charged back to the Client.
Clients may incur certain fees or charges imposed by third parties in connection with investments made on behalf of the Client’s account[s]. Under this Wrap Fee Program, Verum Partners includes securities transactions costs as part of its overall wealth management fee. In addition, all fees paid to Verum Partners for wealth management services or part of the Wrap Fee Program are separate and distinct from the expenses charged by mutual funds and exchange-traded funds to their shareholders, if applicable.
These fees and expenses are described in each fund’s prospectus. These fees and expenses will generally be used to pay management fees for the funds, other fund expenses, account administration (e.g., custody, brokerage and account reporting), and a possible distribution fee. Additionally, account activity fees, such as electronic funds and wire transfers fees, certificate delivery fees, markups and markdowns, bid-ask spreads, selling concessions, and other miscellaneous fees and expenses as outlined in the account opening paperwork executed with the Custodian, are generally charged to the Client. Clients are encouraged to refer to the account opening paperwork executed with the Custodian for an outline of all third-party fees covered under this Wrap Fee Program. The Adviser does not control nor share in these third-party fees. The Client should review all fees charged by the fund[s], third parties and the fees charged by the Adviser to fully understand the total fees to be paid. Please see Item 5.C. – Other Fees and Expenses in the Disclosure Brochure (included with this Wrap Fee Program Brochure).
D. Compensation Verum Partners is the sponsor and portfolio manager of this Wrap Fee Program. Verum Partners receives wealth management fees paid by Clients for participating in the Wrap Fee Program and pays the Custodian for the costs associated with the management of the Client’s account[s].