Description of Services and Fees
MacNicol & Associates Asset Management US, LLC (hereinafter “MacNicol & Associates”) is a registered
investment adviser based in Toronto, Canada. We are a limited liability company, formed under the laws of the
State of Florida. We have been providing investment advisory services since 2021. Diane MacNicol and David
MacNicol are the principal owners of MacNicol & Associates.
You may see the term Associated Person throughout this Brochure. As used in this Brochure, this term refers to
anyone from our firm who is an officer, employee, and all individuals providing investment advice on behalf of
our firm. Such persons are properly registered as investment adviser representatives in applicable jurisdictions
where required.
Portfolio Management Services
Our firm offers discretionary, and in limited cases, non-discretionary portfolio management services to our clients.
Discretionary portfolio management means we will make investment decisions and place buy or sell orders in
your account without contacting you. These decisions would be made based upon your stated investment
objectives. If you wish, you may limit our discretionary authority by, for example, setting a limit on the type of
securities that can be purchased for your account. Simply provide us with your restrictions or guidelines in writing.
Non-discretionary portfolio management service means that we must obtain your approval prior to making any
transactions in your account.
Our investment advice is tailored to meet our clients’ needs and investment objectives. If you decide to hire our
firm to manage your portfolio, we will meet with you to gather your financial information, determine your goals,
and help you decide how much risk you should take in your investments. The information we gather will help us
implement an asset allocation strategy that will be specific to your goals, whether we are actively investing for
you or simply providing you with advice.
MacNicol & Associates does not recommend one particular type of security over other types of securities, but we
do provide advice on various types of securities, such as exchange listed equities, over the counter equities,
foreign
issues, American depository receipts, corporate debt securities, commercial paper, certificates of deposit,
municipal securities, investment company securities (including mutual funds and exchange traded funds), US
Government securities, options contracts on securities and/or commodities, private equity instruments, return
enhanced notes, interests in partnership investing in real estate and other alternative investments. Additionally,
we will provide advice on existing investments you may hold at the inception of the advisory relationship or on
other types of investments for which you ask advice.
If you engage us for portfolio management services, we will monitor your portfolio’s performance on a continuous
basis, and rebalance the portfolio whenever necessary, as changes occur in market conditions and/or your
financial circumstances.
Recommendation of Sub Advisors
As part of our overall portfolio management strategy, we may use one or more sub-advisors to manage all or a
portion of your account. All sub-advisors recommended by our firm must either be registered as investment
advisors or exempt from registration requirements. These sub-advisors may specialize in private equity
investments, private credit markets, hedge funds or other types of alternative investments. Factors that we take
into consideration when making our recommendations include, but are not limited to, the following: the sub-
advisor’s performance, methods of analysis, fees, your financial needs, investment goals, risk tolerance, and
investment objectives. We will periodically monitor the sub-advisor’s performance to ensure its management and
investment style remains aligned with your investment goals and objectives. We retain the right to hire and fire
sub-advisors and the right to reallocate client assets to other sub-advisors or other model portfolios at the same
sub-advisor.
Wrap Fee Programs
We do not sponsor, manage, or participate in any wrap fee programs.
Assets Under Management
As of January 29, 2024, we manage approximately $0 in client assets on a discretionary basis and approximately
$0 in client assets on a non-discretionary basis.