Firm Description
Atlas Capital Management Corp. (Atlas Capital) was founded in 1993 by Jerry L. Jacobs. The firm is
federally registered with the SEC (Securities Exchange Commission) as a Registered Investment Adviser.
Atlas Capital provides investment management to individuals, families and their related entities, trust
and estates, and family businesses. Atlas Capital allocates the investment management assets of its
client accounts, on a discretionary basis, among one or more of its proprietary asset management
programs. In addition to our discretionary management services, we also provide non-discretionary
consulting services to selected clients. Atlas Capital's proprietary programs have been designed to
comply with the requirements of Rule 3a-4 of the Investment Company Act of 1940. Rule 3a-4 provides
similarly managed investment programs with a nonexclusive safe harbor from the definition of an
investment company. In accordance with Rule 3a-4, the following disclosure is specifically applicable to
Registrant’s management of client assets.
ERISA/IRC Fiduciary Acknowledgement
When Adviser provides investment advice to Client regarding Client’s retirement plan account or
individual retirement account, Adviser is a fiduciary within the meaning of Title I of the Employee
Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws
governing retirement accounts. The way Adviser makes money creates some conflicts with your
interests, so Advisers operate under a special rule that requires us to act in your best interest and not
put our interest ahead of yours.
At the opening of the account an employee of Atlas Capital or a designated representative i.e., the
solicitor (see disclosures contained below within Item 4 and contained in Item 14), will obtain from the
client information sufficient to determine the client’s financial situation and investment objectives. The
account will receive individual treatment, meaning the client’s account is managed on the basis of the
client’s financial situation and investment objectives. Atlas Capital will not commingle client assets (No
Pooling) meaning the clients beneficial interest in a security does not represent an undivided interest in
all the securities held by the custodian, but rather represents a direct and beneficial interest in the
securities which comprise the client’s account. Each client retains indicia of ownership of the account
(i.e., right to withdraw securities or cash, exercise or delegate proxy voting, and receive transaction
confirmations). At least quarterly Atlas Capital shall notify the client to advise Atlas Capital whether the
client’s financial situation or investment objectives have changed, or if the client wants to impose
and/or modify any reasonable restrictions on the management of his/her/its account. Atlas Capital shall
be reasonably available to consult with the client relative to the status of the client’s account. All Assets
are held at qualified custodians, who provide quarterly account statements directly to clients at their
address of record or electronically if client so elects. Client acknowledges and understands that Atlas
Capitals' management programs may involve above-average portfolio turnover which could negatively
impact upon the net after-tax gain experienced by the client in non-qualified accounts. Client
acknowledges that not all trades are expected to be profitable and there may be short-term losses,
there will be instances where it will be necessary to reenter the market at a higher level than that of the
last exit. Additionally, it is possible for clients to receive distributions from funds that create a taxable
gain and corresponding tax liability when their account shown no actual gain or possibly a loss.
Atlas Capital provides asset management services to owners of variable annuities. Atlas Capital provides
management services by assisting with or making allocations through the annuity contract to fund sub-
accounts of the insurance company’s variable account that in turn directly invest in a particular
underlying fund. Atlas Capital does not recommend the purchase of variable annuities, nor does it
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render any ongoing investment advice regarding the decision to continue to hold a variable annuity,
whether to exchange a variable annuity, or whether to roll over the variable annuity. There may be
more suitable variable annuities available to clients, and clients and prospective clients should speak
with the representative that sold them the variable annuity or another financial professional to address
any questions that they might have regarding these decisions. Atlas Capital does not receive or share in
any of the commissions or other fees received by the agent, underwriter, or variable annuity sponsor.
No client is required to purchase a variable annuity to receive Atlas Capital’s services.
Principal Owner
Jerry L. Jacobs is 100% stockholder of Atlas Capital Management Corp. There are no intermediate
subsidiaries.
Types of Advisory Services
The primary type of advisory service offered by Atlas Capital is investment supervisory services (i.e.,
"asset management"). In addition to our discretionary management services, we also provide non-
discretionary consulting services to selected clients. In performing its services, Atlas Capital is not
required to verify any information received from the client or from the client's other professionals. Each
client is advised that it remains his/her responsibility to promptly notify Atlas Capital when there is any
change in his/her financial situation and /or financial objectives for the purpose of reviewing, evaluating,
or revising services. At least quarterly the Adviser shall contact the client electronically, through the U.S.
Mail or through the use of a custodial statement to determine whether the clients’ financial situation or
investment objectives have changed.
Managed Assets
As of December 31st, 2023, Atlas Capital managed/consulted on $460,863,224. $443,133,315 for
approximately 2540 accounts on a discretionary basis. In addition, Atlas Capital has consulted on
approximately 180 additional accounts on a non-discretionary basis; these assets totaled approximately
$17,729,909 dollars.
Custody Fees
Under Atlas Capitals’ Investment Management Agreement, assets held at Axos Advisor Services will be
charged an annual custody fee based on the value of the clients account and/or may incur transaction
fees when purchases or sales are made. Axos Advisor Services computes custody fees based on the
Average Daily Balance of the account per the schedule below:
Account value between $0 -$250,000 ............. 10 basis points (.10 of 1%)
Account value between $250,001- $999,999 .... 6 basis points (.06 of 1%)
Account value $1,000,000 and greater ............... 3 basis points (.03 of 1%)
Transaction Cost(s)
(Redemption fees for Mutual Funds) Mutual funds are purchased for Clients accounts that have no initial
expenses. Adviser may purchase funds that impose short term redemption fees, however, when such
funds are purchased, it is the practice of the Adviser to hold these funds until the short-term fees are
waived. Client is advised that if Client terminates this management agreement and requests liquidation
of assets, any redemption fees will be the sole responsibility of the Client. If Client requests partial
withdrawal the same applies. Clients utilizing Atlas Capital’s Investment Consulting Agreement may
incur transaction charges for each stock, mutual fund, fixed income security, or exchange traded fund
(ETF) transaction. Adviser does not share in any redemption fees or transaction fees that are imposed by
any fund or custodian. These charges are different than charges incurred by Investment Management
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clients. When ETF’s are transacted for Client’s investment management accounts there may be a
transaction fee imposed. This transaction cost is charged by the custodian or Broker/Dealer that has
custody of the account. It is anticipated that by combining orders for multiple accounts the cost for each
Client will be substantially less than if they were done individually. Although the purchases and sales are
combined to minimize expenses, all Clients’ maintain an individual segregated account at the custodian.
Client is advised that if Client terminates this management agreement and requests liquidation
of the
assets the transaction costs may be greater than when bulk purchases were made. If client requests
partial withdrawal the same applies. Adviser does not share in any transaction expenses charged by the
custodian or Broker/Dealer. Regardless of the type of agreement all Clients are advised to check each
fund’s prospectus for any redemption fees.
Miscellaneous
Non-Investment Consulting/Implementation Services. Neither Atlas Capital, nor any of our
representatives, serves as an attorney and no portion of Atlas’ services should be construed as legal
advice. To the extent requested by a client, Atlas may recommend the services of professionals for
certain non-investment implementation purposes (i.e., attorneys, tax advisors, accountants, insurance
agents, etc.), including any investment adviser representatives (IAR) of Atlas Capital. Atlas IAR’s may be
tax preparers and licensed insurance agents and may perform certain tax preparation services and/or
commissionable insurance sales in their individual capacity, separate and apart from the investment
management services provided by Atlas Capital. The client is under no obligation to engage the services
of any such recommended professional. The client retains absolute discretion over all such
implementation decisions and is free to accept or reject any recommendation from Atlas.
Please Note: The recommendation by any Atlas IAR that a client utilize his/her tax preparation services
and/or purchase an insurance commission product from him/her presents a conflict of interests, as the
independent IAR has an economic incentive to recommend his/her tax preparation or insurance sales
services based on the compensation to be received, rather than basing such recommendation on a
particular client’s best interest. If the client engages any such recommended professional, and a dispute
arises thereafter relative to such engagement, the client agrees to seek recourse exclusively from and
against the engaged professional. Please Also Note: It remains the client’s responsibility to promptly
notify Atlas if there is ever any change in his/her/its financial situation or investment objectives for the
purpose of reviewing, evaluating, or revising Atlas’ previous recommendations and/or services.
Cash Positions
As noted in our Strategy Descriptions in our Investment Management Agreement, certain strategies are
designed to respond to certain market conditions and will hold exclusively cash or cash equivalents, such
as money market funds. Two of our strategies – Perpetual Equity Growth and Perpetual World Equity
Growth – do not “go to cash” based on market conditions and will typically remain fully invested.
Regardless, even when fully invested, all our strategies maintain a cash position, which varies in size and
changes from time to time. In calculating our fees, we include the value of any cash or cash equivalents
in your account. There may be times when your fees will exceed the investment return in your account.
The Registrant’s Chief Compliance Officer, Jerry Jacobs, or his designee, remains available to address any
questions that a client or prospective client may have regarding this practice.
Introduction from Primary Investment Professional/Solicitors
Atlas Capital Management provides investment management services to clients who are introduced to
the firm through the client’s primary investment professional, including an adviser that serves as a
solicitor to Atlas Capital Management. In these type engagements, the client shall be requested to
acknowledge and agree that: (1) at all times, the Investment Professional shall serve as the client’s
primary investment professional, and shall be responsible for: (a) assisting client in determining the
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client’s initial and ongoing suitability for Atlas’s investment portfolios and/or strategies, and (b)
receiving/ascertaining client’s directions, notices, and instructions, and forwarding them to Atlas in
writing. Atlas’s only obligation shall be to manage the assets consistent with the designated investment
strategy. Atlas Capital Management shall be entitled to rely upon any such direction, notice, or
instruction until it has been duly advised in writing of changes therein. (1) Atlas shall have no
responsibility to the client for the failure of the Investment Professional to timely receive/ascertain/
forward/communicate any and all such directions, notices, and instructions; (2) Atlas is permitted to
share account-related information with Investment Professional until such time as client notifies Atlas,
in writing, to the contrary; and (3) if Atlas is directed to effect account transactions though a specific
broker-dealer/custodian, Atlas will be unable to negotiate commissions and/or transaction costs, and/or
seek better execution. As a result, the client may pay higher commissions or other transaction costs or
greater spreads, or receive less favorable net prices, on transactions for the account than would
otherwise be the case through alternative brokerage/custody arrangement. Higher transaction costs
adversely impact account performance. Please see additional disclosure in Item 14 below.
Please Note: Atlas Capital Management may occasionally reimburse certain broker dealers or
investment advisers for certain expenses and the broker dealer or investment adviser may pass along
those payments to the representative making a referral. These additional payments will not cause the
client to pay additional money in management fees. Such additional expense reimbursements will come
directly from Atlas Capital Management’s receipt of management fees and will be paid directly to the
respective broker dealer or Registered Investment Advisory firm and not to any individual
representative. This may present a conflict of interest in that the broker dealer, investment adviser or
their representatives may make a referral based on the expectation of future expense reimbursements
and not necessarily based on the quality of investment advice rendered. Atlas Capital Management
attempts to resolve this expense reimbursement conflict by requiring preclearance from the Chief
Compliance Officer prior to disbursing any funds. The CCO will determine whether any such
reimbursement is material in amount or frequency to cause any additional concerns. The CCO may use
his judgment in approving or denying such reimbursement. The solicitor will continue to receive a
referral fee for the duration of the client’s relationship with Atlas Capital Management and therefore
may have an incentive to continue the recommendation of Atlas Capital Management and its services.
The Registrant’s Chief Compliance Officer, Jerry Jacobs, or his designee, remains available to address any
questions that a client or prospective client may have regarding this arrangement.
Investment Risk
Different types of investments involve varying degrees of risk, and it should not be assumed that future
performance of any specific investment or investment strategy (including the investments and/or
investment strategies recommended or undertaken by Atlas Capital Management) will be profitable or
equal any specific performance level(s).
Client Obligations
In performing its services, Atlas Capital Management shall not be required to verify any information
received from the client or from the client’s other professionals and is expressly authorized to rely
thereon. Moreover, each client is advised that it remains his/her/its responsibility to promptly notify
Atlas Capital Management if there is ever any change in his/her/its financial situation or investment
objectives for the purpose of reviewing/evaluating/revising Atlas Capital Management’s previous
recommendations and/or services.
At least quarterly the Adviser shall contact the client electronically, through the U.S. Mail or through the
use of a custodial statement to determine whether the clients’ financial situation or investment
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objectives have changed. Neither Atlas nor the client may assign the Investment Management
Agreement without the prior written consent of the other party. Transactions that do not result in a
change of actual control or management shall not be considered an assignment. A copy of Atlas’ written
disclosure statement as set forth on Part 2A of Form ADV shall be provided to each client prior to or
contemporaneously with the execution of the Investment Management Agreement.