Individual Portfolio Management Fees .......................................................................................................................................................... 5
Wealth Advisory Fees ...................................................................................................................................................................................... 6
Consulting Services Fees ................................................................................................................................................................................. 6
General Information ....................................................................................................................................................................................... 6
Item 5 Performance-Based Fees and Side-By-Side Management ...................................................................................................................... 7
Item 6 Types of Clients ........................................................................................................................................................................................ 7
Item 7 Methods of Analysis, Investment Strategies and Risk of Loss................................................................................................................. 7
Methods of Analysis ........................................................................................................................................................................................ 7
Investment Strategies ...................................................................................................................................................................................... 7
Risk of Loss ...................................................................................................................................................................................................... 7
Item 8 Disciplinary Information ......................................................................................................................................................................... 7
Item 9 Other Financial Industry Activities and Affiliations ............................................................................................................................... 7
Item 10 Code of Ethics, Participation or Interest in Client Transactions and Personal Trading ...................................................................... 8
Item 11 Brokerage Practices ................................................................................................................................................................................ 9
Item 12 Review of Accounts .............................................................................................................................................................................. 10
Individual Portfolio Management ................................................................................................................................................................ 10
Item 13 Client Referrals and Other Compensation .......................................................................................................................................... 10
Item 14 Custody ................................................................................................................................................................................................ 10
Item 15 Investment Discretion .......................................................................................................................................................................... 11
Item 16 Voting Client Securities ....................................................................................................................................................................... 11
Item 17 Financial Information .......................................................................................................................................................................... 11
Item 18 Other Information ............................................................................................................................................................................... 11
Cybersecurity ................................................................................................................................................................................................. 11
Identity Theft ................................................................................................................................................................................................. 12
Disaster Recovery .......................................................................................................................................................................................... 12
Item 3 Advisory Business
Gryphon Advisors, LLC ("Gryphon") services consist primarily
of coordinated wealth advisory services based upon an analysis
of a client's specific situation (including risk tolerance,
investment horizon, rate of return objectives) and development
of a group of strategies and tactics designed to achieve the
client's goals and objectives. In general, the wealth advisory
process will address tax planning, estate planning, risk
management, education funding, cash flow and debt
management, investment planning and management and any
other area that may be important to the specific client situation.
Implementation of the strategies and tactics is entirely at the
client’s discretion. Gryphon's services to a particular client may
or may not include investment advisory services. In those cases
where Gryphon does provide investment advisory services
(providing continuous advice for the client based upon the
client's individual need), Gryphon will develop an investment
policy/allocation model that will guide the entire investment
planning and management process. Investment implementation
guidelines are jointly developed and agreed to on a quarterly or
semi-annual basis. In general, implementation guidelines
consider changing market and economic conditions that may
require amendment to the original plan. Gryphon will
implement or supervise the implementation of the investment
plan on the client’s behalf. In general, investment performance
is reviewed with the client on a quarterly basis.
Gryphon also provides a variety of consulting or other services
that would not be considered wealth advisory or investment
advisory services. Examples of these services include business
plan development, organizational development, tax compliance
and succession planning.
Gryphon Advisors, LLC is a SEC-registered investment adviser
with its principal place of business located in Illinois. Gryphon
Advisors, LLC began conducting business in 2006. Gryphon
Advisors offers the following advisory services to clients:
In di vi dual Po rtfo lio M anag e me nt
Our firm provides continuous advice to a client regarding the
investment of client funds based on the individual needs of the
client. Through personal discussions in which goals and
objectives based on a client's particular circumstances are
established, we develop a client's personal investment policy and
create and manage a portfolio based on that policy. During our
data-gathering process, we determine the client’s individual
objectives, time horizons, risk tolerance, and liquidity needs. As
appropriate, we also review
and discuss a client's prior
investment history, as well as family composition and
background. We manage these advisory accounts on a
discretionary or non-discretionary basis. Account supervision is
guided by the client's objectives, as well as tax considerations.
Clients may impose reasonable restrictions on investing in
certain securities, types of securities, or industry sectors. Our
investment recommendations are not limited to any specific
product or service offered by a broker-dealer or insurance
company and will generally include advice regarding the
following securities:
• Exchange-listed securities
• Securities traded over-the-counter
• Commercial paper
• Certificates of deposit
• Municipal securities
• Variable life insurance
• Variable annuities
• Open and closed end mutual fund shares
• United States governmental securities
• Options contracts on securities and commodities
• Futures contracts on tangibles and intangibles
• Interests in partnerships and private placements
Because some types of investments involve certain additional
degrees of risk, they will only be implemented/recommended
when consistent with the client's investment objectives,
tolerance for risk, liquidity and suitability.
We al th Advi so ry
We provide wealth advisory services. Wealth advisory services
include comprehensive evaluation of a client’s current and
future financial state by using currently known variables to
predict future cash flows, asset values and withdrawal plans.
Through the wealth advisory process, all questions, information
and analysis are considered as they impact and are impacted by
the entire financial and life situation of the client. In general,
wealth advisory services may address any or all of the following
areas:
• Cash flow and debt management
• Income and transfer tax planning
• Investment planning and management
• Risk management and insurance planning
• Retirement planning
• Education funding
• Estate planning
We gather information through in-depth personal interviews.
Information gathered includes the client's current financial
status, tax status, future goals, return objectives and attitudes
towards risk. Implementation of financial plan
recommendations is entirely at the client's discretion.
Con sul ting Servi ces
Clients can also receive investment advice on a more focused
basis. This may include advice on only an isolated area(s) of
concern such as estate planning, business planning, retirement
planning, or any other specific topic. We also provide specific
consultation and administrative services regarding investment
and financial concerns of the client.
Amo un t o f M an ag ed Assets
As of 12/31/2023, we were actively managing $421,329,209 of
clients' assets on a discretionary basis plus $88,999,529 of
clients' assets on a non-discretionary basis.
The specific manner in which fees are charged is established in a
client’s written agreement with Gryphon Advisors. All fee
agreements are negotiable. Clients may elect to be billed on a
monthly or quarterly basis in arrears. Clients may also elect to
be billed directly for fees or to authorize Gryphon Advisors to
directly debit fees from client accounts. Accounts initiated or
terminated during a calendar quarter will be charged a prorated
fee. Clients also agree to reimburse Gryphon for all expenses
directly related to the client’s engagement. Upon termination of
any account, any prepaid, unearned fees will be promptly
refunded, and any earned, unpaid fees will be due and payable.
Gryphon Advisors’ fees do not include brokerage commissions,
transaction fees, and other related costs and expenses which may
be incurred by the client. Clients may incur certain charges
imposed by custodians, brokers, third party investment
managers and other third parties such as fees charged by
managers, custodial fees, deferred sales charges, odd-lot
differentials, transfer taxes, wire transfer and electronic fund
fees, and other fees and taxes on brokerage accounts and
securities transactions. Mutual funds and exchange traded funds
also charge internal management fees, which are disclosed in a
fund’s prospectus. Such charges, fees and commissions are
exclusive of and in addition to Gryphon Advisors’ fee, and
Gryphon Advisors shall not receive any portion of these
commissions, fees, and costs.
In di vi dual Po rtfo lio M anag e me nt Fe es
Fees for Investment Supervisory Services may be charged as a
percentage of assets under management, a fixed fee or on an
hourly basis according to the following schedules:
Assets Under Management Fee Schedule
• First $5,000,000 - 0.25% per quarter
• Next $5,000,000 - 0.1875% per quarter
• Next $90,000,000 - 0.125% per quarter
• Over $100,000,000 - 0.09375% per quarter
Hourly fees are determined according to the following fee
schedule:
Hourly fee schedule
• Partner $375 - 675
• Manager $200 - 375
• Associate $125 - 200
• Assistant $85 - 125
• Administrative $45 - 85
We may group certain related client accounts for the purposes
of achieving the minimum account size requirements and
determining the annualized fee. Discounts, not generally
available to our advisory clients, may be offered to family
members and friends of associated persons of our firm.
Limited Negotiability of Advisory Fees: Although Gryphon
Advisors has established the aforementioned fee schedule, we
may negotiate alternative fees, such as fixed fees or hourly billing
on a client-by-client basis. Client facts, circumstances and needs
will be considered in determining the fee schedule. These
include the complexity of the client, assets to be placed under
management, anticipated future assets, related accounts,
portfolio style, account composition, reports, among other
factors. The specific annual fee schedule will be identified in the
contract between Gryphon and each client.
We al th Advi so ry F ee s
Gryphon Advisors' Wealth Advisory fee will be determined
based on the nature of the services being provided and the
complexity of each client’s circumstances. All fees are agreed
upon prior to entering into a contract with any client. Our
Wealth Advisory fees may be calculated and charged on an
hourly basis, ranging from $45 to $675 per hour, a fixed fee basis
or as a percentage of net worth. We may request a retainer upon
completion of our initial fact-finding session with the client;
however, advance payment will never exceed $500 for work that
will not be completed within six months. The balance is due
upon completion of the plan. The client will be billed in arrears
on a monthly or quarterly basis as earned.
Con sul ting Servi ces F ee s
Gryphon Advisors' Consulting Services fee will be determined
based on the nature of the services being provided and the
complexity of each client’s circumstances. All fees are agreed
upon prior to entering into a contract with any client. Our
Consulting Services fees are calculated and charged on an hourly
basis, ranging from $45 to $675 per hour. An estimate for the
total hours is determined at the start of the advisory
relationship. The client will be billed in arrears on a monthly or
quarterly basis as earned.
Ge ne ral In fo rmation
Termination of the Advisory Relationship: A client agreement
may be canceled at any time, by either party, for any reason
upon receipt of written notice. As disclosed above, certain fees
are paid in advance of services provided. Upon termination of
any account, any prepaid, unearned fees will be promptly
refunded. In calculating a client’s reimbursement of fees, we will
pro rate the reimbursement according to the number of days
remaining in the billing period.
Mutual Fund Fees: All fees paid to Gryphon Advisors for
investment advisory services are separate and distinct from the
fees and expenses charged by mutual funds and/or ETFs to their
shareholders. These fees and expenses are described in each
fund's prospectus. These fees will generally include a
management fee, other fund expenses, and a possible
distribution fee. If the fund also imposes sales charges, a client
may pay an initial or deferred sales charge. A client could invest
in a mutual fund directly, without our services. In that case, the
client would not receive the services provided by our firm which
are designed, among other things, to assist the client in
determining which mutual fund or funds are most appropriate
to each client's financial condition and objectives. Accordingly,
the client should review both the fees charged by the funds and
our fees to fully understand the total amount of fees to be paid
by the client and to thereby evaluate the advisory services being
provided.
Additional Fees and Expenses: In addition to our advisory fees,
clients are also responsible for the fees and expenses charged by
custodians and imposed by broker dealers, including, but not
limited to, any transaction charges imposed by a broker dealer
with which an independent investment manager effects
transactions for the client's account(s). Please refer to the
"Brokerage Practices" section (Item 12) of this Form ADV for
additional information.
Advisory Fees in General: Clients should note that similar
advisory services may (or may not) be available from other
registered (or unregistered) investment advisers for similar or
lower fees.
Limited Prepayment of Fees: Under no circumstances do we
require or solicit payment of fees in excess of $500 more than six
months in advance of services rendered.