BACKGROUND & PRINCIPALS Veris is a Registered Investment Advisory firm founded in July 2007 whose principal owners are listed in Part 1A of Form ADV. Veris Wealth Partners is an independent, majority woman-led firm that serves as an investment advisor to endowments, foundations, high-net worth individuals, and families with the dual aim of meeting both their financial and impact investing goals. Utilizing its expert knowledge of the sustainable investing landscape and relevant financial, Environmental, Social, and Governance (ESG) and Diversity, Equity, and Inclusion (DEI) issues, Veris structures diversified Veris Wealth Partners, LLC Page 4 portfolios that aim to drive positive change while bringing rigor and discipline to the investment process. Our collective decades of experience gives us uncommon firsthand experience understanding how application of ESG criteria impacts portfolios over a variety of market cycles and conditions. Since our founding in 2007, Veris has been one of the only 100% impact and ESG focused wealth management firms in the United States. We operate based on our belief that investing in companies committed to sustainability, DEI, and ESG principles can deliver competitive market performance while mitigating risk and that investors can have positive social and environmental impact across asset classes and strategies through ESG integrated investing, shareholder advocacy, and thematic impact investing. We fervently believe that it’s critical that impact-focused foundations and endowments engage with an advisory firm significantly experienced in sustainable and impact investing in order to maximize the advancement of their mission. Mission and Vision
• Our firm’s vision is to create an equitable, just, and sustainable world.
• Our mission is to utilize financial markets to direct capital to environmentally and socially sustainable and regenerative endeavors.
• Our firm’s independence means that no outside influence or conflicting corporate interests distract us from our mission. Veris Values
• Integrity: Our professional and moral integrity is at the foundation of everything we do. We seek to do the right thing, even when it means taking a more challenging path.
• Equity and Justice: We believe in social and environmental justice and equity for all and strive to be unbiased in all of our actions.
• Global Sustainability: As a Certified B Corporation, we do more than talk about sustainability–we work to achieve a sustainable society and environment globally.
• Diversity and Inclusion: We celebrate our differences and believe that they make us stronger. We know that diverse teams outperform and we strive to include individuals of all backgrounds in all we do.
• Community and Connection: We value relationships and work in close collaboration with our clients, partners, managers, and our colleagues in the industry at large.
• Authenticity: We strive to live our values every day. We demonstrate our commitment to authenticity in how we work, invest and serve our clients. OUR COMPARATIVE ADVANTAGES We believe Veris stands out among other advisory firms in the following ways:
• Decades of Experience Serving Foundations: Our advisors collectively have decades of experience serving public and private foundations. We have been serving endowments since our firm was first founded in 2007. We have advised many large foundations (some with assets exceeding $1 billion) at various stages of their ESG investing journey. Veris Wealth Partners, LLC Page 5
• National and Long-time Expertise in Sustainable Finance: We are one of the first and longest serving ESG/Impact-Only advisory firms in the United States. Our advisors collectively have decades of experience building impact investment portfolios and sustaining those portfolios through a variety of market conditions. Over longer time horizons, we believe portfolios integrating environmental, social, and governance factors benefit through risk reduction. Beyond this, we have also developed thematic expertise, which means portfolios can be not only more generally ESG-focused, but also tilt towards Environmental or Social themes of the client’s choice.
• Ability to Identify ESG Factors That Create Vulnerabilities: Tilting the portfolio to emphasize certain impact themes has the potential to create portfolio vulnerabilities, either in combination or at specific points in the market cycle. Veris’s Investments team applies their collective experience and expertise with the aims of helping foundation and other clients maximize their desired impact while proceeding with prudence and adherence to the risk and return profile needed to support their mission in perpetuity.
• Impact and Financial Rigor: In recent years, investment strategies labeled as “ESG” and/or impact have populated the marketplace. Many advisors are now able to build an investment portfolio that, at least on the surface, appears to comply with investor’s ESG guidelines and impact goals. Unfortunately, not all strategies employed by investment advisors apply meaningful impact rigor and many strategies utilized by advisors may be vulnerable to systemic or market risk. We differentiate between ESG criteria that we believe help reduce risk and improve outcomes from those that have the potential to impair a portfolio during certain portions of a market cycle. Veris’s Investments Team works to understand the client’s desired impact goals and to measure the financial and impact outcomes of each strategy. We believe this experience goes a long way towards helping foundations and other clients fulfill their mission while heeding market risk. TYPES OF ADVISORY SERVICES The following sections provide a description of the services we offer, our approach to impact investing, and the ways we work with our clients. WHAT WE MEAN BY ADVISORY SERVICES For foundations and endowments, Veris offers numerous advisory solutions designed to meet each client’s needs and objectives. Such services range from providing due diligence and investment recommendations that can be implemented by our clients to providing discretionary or non-discretionary management of investment portfolios designed to implement our recommendations. For clients with limited in-house resources and/or an investment committee that seeks to delegate portfolio implementation, we offer discretionary investment management or Outsourced Chief Investment Officer (“OCIO”) services. For those clients that seek a similar level of implementation support while reserving the right to accept or reject Veris’s recommendations, we offer non-discretionary investment management services. Veris typically only advises foundations where we can advise the client with respect to their entire portfolio because of risks that are difficult to manage when we only see a portion of the client’s investable assets. Veris also offers foundation and endowment clients a suite of educational programs on topics including endowment management and fiduciary responsibility, spending policies, introduction to impact investing, introduction to mission-related investing, introduction to Community Wealth Building Investing, Climate Veris Wealth Partners, LLC Page 6 Solutions Investing, Gender & Racial Equity Investing or other thematic topics, shareholder engagement guidelines or other specific topics related to economic, market & investment topics, or impact investing. For families and high-net-worth individuals, we offer a variety of wealth management services. Wealth management is more than management of an investment portfolio, as it can encompass all parts of a person’s financial life. We provide our clients with a variety of financial advisory services to assist them in managing the entirety of their financial affairs. This includes, among other things, investment management and financial and retirement planning. We also provide support to our clients with respect to philanthropic and estate planning by working with our clients’ other professional advisors. We will recommend the services of other professionals for services outside our area of expertise if needed. Our investment management services are primarily focused on managing clients’ investable assets. We make investment recommendations, analyze portfolios, and research investment opportunities suitable for our clients. WHAT WE MEAN BY IMPACT AND SUSTAINABLE INVESTING Veris defines impact investing as investments made with investment managers or investments in funds, companies, or other instruments (collectively, “investments”) with the intention of generating positive social and environmental impact without compromising financial returns. We seek out investment managers and investments that incorporate sustainability analysis and/or environmental, social, and governance (“ESG”) criteria into their investment philosophy to identify impact and sustainable investments. We believe these investment managers and investments gain additional insight into potential business risks and opportunities by incorporating ESG criteria. Additionally, we seek managers and funds that can demonstrate impact in one or more of four areas: Climate Solutions and the Environment, Community Wealth Building, Racial and Gender Equity, and Sustainable and Regenerative Agriculture. Investment managers and investments that focus on sustainable investing seek to invest in companies with practices, products, and/or services that can mitigate risks through their evaluation of externalities (e.g., greenhouse gas emissions, mining pollution, unfair employment practices, lax corporate governance, etc.). We believe that investment managers and investments utilizing ESG and sustainability analysis are able to identify companies with quality management teams and business operations and are positioned to perform better than their peers in the long run. We also include the concept of Diversity, Equity, and Inclusion (“DEI”) in our approach to impact investing – and seek out investments, regardless of sector, theme, or asset class, with a certain level of commitment to DEI. DEFINITIONS Environmental, Social, and Governance (“ESG”) Investing: An investment is generally considered an ESG investment when its investing philosophy considers a company’s ESG practices, both positive and negative, as a factor for portfolio inclusion. ESG investment processes seek to identify companies with very high ESG performance and companies with better ESG performance than their industry peers. Socially Responsible Investing (“SRI”): An investment is generally considered to be an SRI investment when it incorporates screening of controversial business practices and ESG analysis. Shareholder advocacy and community/impact investing are additional strategies an SRI fund or manager may utilize. Mission-Related Investing (“MRI”) or Mission Investing (“MI”): MRI is an investment approach used primarily by foundations and other mission-driven organizations. This investment approach aligns financial Veris Wealth Partners, LLC Page 7 assets with mission outcomes in an effort to meet targeted financial returns and amplify the impact of programmatic activity. MRI includes traditional investments (seeking market rate returns) as well as Program Related Investments (PRI), where the primary intent is a high level of mission-aligned impact. Sustainable Investing (“SI”): While all of the above-described practices are generally considered to be sustainable, this paragraph describes a specific investment philosophy referred to as Sustainable Investing. An investment is generally considered to be a sustainable investment when it assesses a company’s process for addressing sustainability issues as an investment lens to identify quality management teams and companies providing innovative solutions to sustainability issues. Sustainability issues include, but are not limited to, excessive carbon emissions, pandemics, resource depletion and scarcity, corporate governance, environmental degradation, and poverty. Impact Investing: An impact investment addresses social and/or environmental challenges while generating financial returns. Impact Investing refers to the component of portfolios most targeted at achieving environmental and social impacts. Such impacts can be achieved by using investment products ranging from fixed-income community impact notes to highly targeted environmental private equity funds. Veris seeks to identify impact investments across asset classes. Diversity, Equity, and Inclusion (“DEI”): DEI corresponds to a set of values that advance the concept of equal treatment of individuals regardless of background, seeking out and rewarding diversity of backgrounds in teams, and celebrating that diversity through equity and inclusion and a sense of belonging of given team members. We believe that these practices lead to better businesses and investments. HOW WE WORK WITH OUR CLIENTS We work with our clients—endowments, families, and foundations—to understand their financial assets, financial goals, needs and objectives, and impact objectives through conversations, interviews, and client questionnaires. Understanding a client’s portfolio funding requirements, risk tolerance, and impact objectives provides us with the necessary information to construct a portfolio to meet short-to-medium-term spending requirements and long-term growth goals. We allocate funds that are needed for short-to-medium-term spending requirements, whether it is for a clients living expenses or a foundations grantmaking to a spending allocation that is invested in cash, cash equivalents, and short-to-medium-term high-quality bonds and bond funds. Long-term growth assets are allocated to a sustaining growth portfolio based on identifying the appropriate risk model for a client. We strive to allocate the client’s sustaining growth portfolio across a globally diversified equity portfolio and, if appropriate, an alternative assets portfolio. As appropriate, Veris allocates assets among investment funds (including mutual funds, exchange-traded funds (“ETFs”), and private funds (including, without limitation, private equity funds, real estate funds, and funds-of-funds)), other investments, and third-party investment managers (including separate account managers, subadvisors, and third-party investment management platforms). We then select one or more investments for each of the asset classes in their appropriate risk model. For foundations and endowments, we can develop and draft an investment policy statement (“IPS”) as appropriate. We may also follow a client’s existing IPS. We facilitate discussions among multiple family members or members of Boards of Directors to draft an IPS that outlines an organization’s investment time horizon, return objectives, income and liquidity needs, investment restrictions, and impact objectives. If a client has an IPS before engaging us, we will review the client’s current IPS and make recommendations as needed. Core to our work with foundations and endowments is providing asset allocation guidance, portfolio construction, implementation, and ongoing portfolio maintenance. We implement the investment policy and impact policy guidelines through the construction of the portfolio. Veris Wealth Partners, LLC Page 8 We typically recommend third-party managers and their products to our clients instead of investing their assets directly. We seek to identify managers with expertise and a strong risk-adjusted financial performance and demonstrated impact in their specific investment mandate. In limited circumstances, depending on the needs of the client, we will also directly manage or advise a client with respect to individual securities and/or investments without delegating responsibility to a third-party manager. We offer our clients online access to their portfolio holdings, transaction reports, daily performance, and quarterly performance reports through Envestnet. Client assets and portfolios not managed by Veris may be included in a client’s online reporting (aggregate reporting) for an additional fee. At a minimum, we offer our clients a meeting annually and encourage them to update us promptly regarding any changes in their financial circumstances. Our investment philosophy and process are the same across our investment services and products. Please see Item 8 for additional details regarding our investment philosophy and process. We specialize in, but are not limited to, sustainable investment options. Please see Item 8 for a description of how we customize portfolios. IMPACT INVESTING SOLUTIONS PROGRAM We recommend our clients use the Envestnet Asset Management Platform (the “Platform”), which provides investment advisers such as Veris with portfolio management, technological, administrative, reporting, and other back-office services that allow Veris to manage its own portfolios and access investment managers that provide discretionary services in the form of traditional managed accounts and investment models. By the end of 2024, the firm will migrate to Tamarac (an Envestnet Company) to improve upon its current Envestnet Asset Management Platform. The transition is currently underway in 2024. FINANCIAL PLANNING AND CONSULTING REVIEW We offer our clients a broad range of financial planning and consulting services, typically in conjunction with our investment management services. To perform our financial planning and consulting services, we rely upon information furnished by our clients and their other professional advisers (e.g., attorneys, accountants). Our financial planning analysis is conducted on the eMoney online platform. When we provide stand-alone

financial planning and consulting services, which is only done on a limited basis, such services generally include several meetings and/or steps:
• Establishing and defining the client-advisor relationship
• Gathering client data including goals
• Analyzing and evaluating the client’s current financial status
• Developing and presenting recommendations and/or alternatives
• Implementing the recommendations
• Monitoring the recommendations Clients who engage Veris for stand-alone financial planning and consulting services receive a customized plan detailing the services we will provide and our recommendations. We may recommend our services and/or other professionals, such as accountants, estate planning attorneys, and philanthropic consultants, to assist in implementing our recommendations. A conflict of interest exists if we recommend our own services, including but not limited to our investment management services, or the services of other Veris Wealth Partners, LLC Page 9 professionals with whom we have a business relationship. Clients are free to choose other professionals to implement our recommendations. Even if we are not engaged for stand-alone financial planning and consulting services, we provide a limited amount of such services to our clients, which is included in their annual investment management fee. We offer the following services: Financial Planning:
• Retirement accumulation planning
• Retirement income planning
• Education and college planning
• Employer retirement planning (reviewing 401k or 403b asset allocations)
• Employee benefits planning
• Budget and cash flow planning
• Financial impact planning of life events, such as a new job, divorce, inheritance, asset liquidation/purchase, and the birth/death of a family member Consulting:
• Providing mission-related investing and impact investing education
• Development of mission-related investing and impact investing guidelines and implementation plans
• IPS drafting or review to address financial and mission/impact guidelines
• Impact investment manager search and selection
• Miscellaneous consulting such as the selection of a bookkeeper In Consultation with Clients' Other Professional Advisers:
• Insurance planning (e.g., life, health, disability)
• Tax planning
• Elder care planning
• Estate planning
• Philanthropic planning
• Succession planning Philanthropic Planning: We assist clients in determining guidelines for philanthropic spending, identify assets to gift and suitable charitable vehicles, and assist in aligning client giving with their sustainability objectives. We may recommend the services of philanthropic consultants and/or charitable services such as Donor Advised Funds (“DAFs”). Clients are responsible for the fees and expenses associated with such philanthropic consultants and DAFs. Philanthropic contributions are managed on a client-by-client basis. CUSTOMIZED PORTFOLIOS & PORTFOLIO RESTRICTIONS Veris utilizes a goals-based investing approach and seven risk models for client portfolios. There are scenarios when one of our risk models may not be appropriate for a client. In such a case, we may recommend (or the client may choose) a non-standard asset allocation model. Two examples are:
• A client with significant assets held outside of Veris. It is our objective to consider all of a client’s assets and assist the client in having the entirety of their assets at an appropriate level of risk. For example, if a client owned illiquid real estate investments outside of the assets managed by Veris, we would look to adjust their risk model to account for their additional real estate holdings. Veris Wealth Partners, LLC Page 10
• A client with a portfolio of low-cost basis securities. It might not be prudent for the client to sell their low-cost basis stock all at once and transfer the proceeds to one of our risk models. Depending on the circumstances, the better strategy might be to liquidate the securities over multiple years to minimize the potential tax consequences associated with selling them. Veris might adjust the client’s risk model when taking into consideration the client’s low-cost basis securities. A client’s portfolio can also be customized to meet the client’s impact objectives. Veris can customize portfolios in several ways. We can focus the impact of a client’s portfolio using one or more impact themes such as climate solutions and the environment, community wealth building, racial and gender equity, and sustainable and regenerative agriculture. Certain third-party managers we utilize can accommodate the use of custom personal screens based on the preferences of our clients. Such personal environmental and social screens can include or filter out securities holdings based on a company’s environmental, social, and governance performance and based on the level of revenue from any controversial business practices. Clients may elect to have a custom-built unified managed account (“UMA”) portfolio. In the custom UMA portfolio offered through Envestnet, we may select investment managers (in addition to the use of mutual funds and ETFs, as appropriate) or adjust the asset allocation to meet client investment objectives or restrictions. Custom personal environmental and social screening may not apply to all investment options. USE OF INVESTMENT MANAGERS As discussed above, where appropriate, we may select or recommend outside investment managers to manage all or a portion of a client’s assets. The specific terms and conditions under which a client engages an investment manager may be set forth in a separate written agreement with the investment managers engaged to manage their assets. We evaluate a variety of information about investment managers, which may include the investment manager’s public disclosure documents, materials supplied by the investment managers themselves, and other third-party analyses we believe are reputable. To the extent possible, we seek to assess the investment manager’s investment strategies, ESG and impact thesis, past performance, and risk results in relation to a clients’ individual portfolio allocations and risk exposure. We strive to take into consideration numerous factors, which could include each investment manager’s management style, returns, reputation, financial strength, financial and impact reporting, pricing, and research capabilities, among other factors. Veris continues to provide services relative to the discretionary or non-discretionary selection or recommendation of investment managers. On an ongoing basis, we monitor the performance of accounts being managed by investment managers and seek to ensure their strategies and target allocations remain aligned with our clients’ investment objectives and overall best interests. INVESTMENTS IN PRIVATE FUNDS When appropriate, Veris will recommend a client invest in private investment funds (including, without limitation, private equity funds, venture capital funds, real estate funds, and funds-of-funds). Among other private funds, Veris recommends certain eligible clients invest in the Veris Global Sustainability Fund, LLC (“VGSF”). Interests in VGSF are offered on a private placement basis to qualified investors pursuant to Regulation D under the Securities Act of 1933. VGSF was primarily formed to allow qualified investors to make an investment in Generation IM Global Equity Fund LLC (“Generation IM”) at a minimum investment amount lower than that mandated for a direct investment in Generation IM. VGSF is a Delaware limited liability company that relies on the exclusion from the definition of an investment company found in Section Veris Wealth Partners, LLC Page 11 3(c)(7) of the Investment Company Act of 1940 (the “Company Act”) where securities are owned exclusively by “qualified purchasers” (as that term is defined in the Company Act). To the extent certain of our individual advisory clients qualify, they will be eligible to invest in VGSF. Veris Global Sustainability Management, LLC (“VGSM”) is a wholly owned subsidiary of Veris and the manager of VGSF. VGSM has delegated responsibility for management of its investment portfolio to Veris, which receives a quarterly management fee for managing VGSF's investments. When Veris recommends that its clients invest in VGSF, Veris waives the Veris advisory fee with respect to the assets that clients invest in VGSF. However, in limited circumstances, the fees that Veris earns because of managing Veris client assets invested in VGSF could be greater than the investment advisory fees that Veris would otherwise charge with respect to such assets. In such circumstances, a conflict of interest exists because Veris has an incentive to recommend that its clients invest in VGSF because of the compensation that Veris can earn as a result of such recommendations. Nonetheless, Veris will only recommend that its clients invest in VGSF if such an investment is in the clients’ best interest. An investment in VGSF involves a significant degree of risk. All relevant information, terms, and conditions relative to VGSF, including the compensation to be received by Veris, suitability, risk factors, and potential conflicts of interest, are set forth in the Confidential Private Offering Memorandum, Limited Liability Company Agreement, and Subscription Agreement, which each limited partner is required to receive and/or execute prior to being accepted as a member of VGSF. WRAP FEE PROGRAMS Veris does not sponsor or provide portfolio management services to wrap fee programs. CLIENT ASSETS UNDER MANAGEMENT As of December 31, 2023, Veris had $2,018,905,655 in assets under management, $1,856,136,925 of which was managed on a discretionary basis and $162,768,730 of which was managed on a non-discretionary basis. 5. FEES & COMPENSATION INVESTMENT MANAGEMENT FEES For our investment management services, we charge an annual investment management fee of up to one percent (1.0%) per annum based on a tiered fee schedule. Our investment management fees are charged quarterly in advance and are prorated based upon the fair market value of the assets under management on the last day of the previous quarter. Our fee is exclusive of, and in addition to, the fees and expenses charged to clients by broker-dealers, custodians, trust companies, and banks (“Financial Institutions”), as well as by third-party managers, private funds, and asset management platforms. Standard Veris Advisory Fee Schedule A minimum of $5000 is applied across all accounts From To Advisor Fee $0.00 $2,000,000.00 1.00% $2,000,000.01 $5,000,000.00 0.75% $5,000,000.01 $10,000,000.00 0.65% $10,000,000.01 $25,000,000.00 0.55% Veris Wealth Partners, LLC Page 12 $25,000,000.01 $50,000,000.00 0.45% $50,000,000.01 $75,000,000.00 0.35% $75,000,000.01 $100,000,000.00 0.25% $100,000,000.01 and up 0.20% but negotiable We discount 5% from our investment management fees for non-profit organizations. Some legacy clients are on a different fee schedule, which may result in fees that are different than those disclosed above. Standard Advisory Fee Schedule with 5% Nonprofit discount A minimum of $5000 is applied across all accounts From To Advisor Fee $0.00 $2,000,000.00 0.9500% $2,000,000.01 $5,000,000.00 0.7125% $5,000,000.01 $10,000,000.00 0.6175% $10,000,000.01 $25,000,000.00 0.5225% $25,000,000.01 $50,000,000.00 0.4275% $50,000,000.01 $75,000,000.00 0.3325% $75,000,000.01 $100,000,000.00 0.2375% $100,000,000.01 and up 0.19% but negotiable We will, as appropriate, negotiate a lesser investment management fee based upon certain criteria, such as anticipated future additional assets, related accounts, family members’ accounts, significant assets, account composition, and pro bono activities. Investment managers may have minimum-fee or portfolio-size requirements that differ from the above. We may recommend additional performance reporting for client assets not held on the Platform, including assets not directly managed by Veris, for which separate fees will be charged by Veris. FINANCIAL PLANNING & CONSULTING FEES Veris charges a fixed fee and/or hourly fee for our stand-alone financial planning and consulting services. Veris’s fees for financial planning and consulting services are negotiable. However, fixed fees for financial planning services generally range from $2,500–$10,000, and fixed fees for consulting services generally range from $5,000– $250,000. Hourly fees for financial planning and consulting services generally range from $250– $1000 per hour, depending upon the level and scope of the services and the professional rendering the financial planning and/or consulting services. If a client engages Veris for investment management services, we may offset all or a portion of the fees for those services based upon the amount paid for the financial planning and/or consulting services. We often require one-half of the financial planning or consulting fee (estimated hourly or fixed) to be paid upon the execution of a written engagement letter. The balance is due upon delivery of the financial plan or completion of the agreed-upon services. Either party may terminate the agreement by written notice to the other. In the event a client terminates our financial planning and/or consulting services, the balance of the client’s unearned fees (if any) will be refunded to the client. Financial planning and consulting services with a finite term are generally delivered within six months of the initial engagement. Ongoing consulting services are billed quarterly for services performed. Veris Wealth Partners, LLC Page 13 FEE PAYMENTS & BILLING The Veris agreement with its clients and/or the separate agreement with our clients’ Financial Institution(s) authorize(s) Veris to debit the client’s account for our fee and to directly remit that management fee to Veris. The Financial Institutions that serve as the qualified custodians for Veris clients have agreed to send statements to clients, at least quarterly, indicating all amounts disbursed from their accounts, including the amount of investment management fees paid directly to Veris. OTHER FEES & EXPENSES In addition to the fees clients pay to Veris, clients will incur charges from broker-dealers, custodians, investment managers, investment funds (including mutual funds, ETFs, and private funds), and investment management platforms. These fees are described below.
• The fees paid to broker-dealers/custodians could include, but are not limited to, brokerage commissions, spreads, and other transaction costs; custodial fees; margin costs; reporting charges; 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. We recommend our clients use Fidelity Brokerage Services LLC, through Fidelity Institutional Wealth Services (together with their affiliates, “Fidelity”) and/or Charles Schwab & Co, Inc., through its Schwab Advisor Services division (together with their affiliates, “Schwab”) as their custodian, but clients are not limited to using Fidelity or Schwab.
• The fees and expenses associated with investing in investment funds and investment managers include fees and expenses charged by mutual funds and ETFs (which are described in each fund’s prospectus or other offering document); fees and expenses charged for private funds (which are explained in the relevant offering documents for such private funds); and fees and expenses charged by other investment managers.
• The fees and expenses charged by an asset management platform such as Envestnet include those for portfolio management and back-office services that might otherwise typically be borne by Veris, access to investment managers, online performance reporting, and other specific program services. The Platform fees and investment manager fees are determined by the particular program(s) and investment manager(s) with which a client’s assets are invested and are calculated based upon a percentage of a client’s assets under management, as applicable.
• Fees and expenses associated with philanthropic consultants and DAFs. Neither Veris nor any of its supervised persons receives any portion of the brokerage commissions or other transaction costs (including trails from mutual funds) paid to broker-dealers or fees paid to investment managers. ADJUSTMENTS TO FEES The Veris annual investment management fee for clients on the Platform is prorated through the date of termination, and any remaining balance is charged or refunded to the client, as appropriate, in a timely manner. Investment management fees are adjusted if assets of $10,000 or more are added to or withdrawn from clients’ accounts during a calendar quarter. Clients not on the Platform are manually billed, and upon termination of their account(s), any unearned fees of $75 or less are not refunded. In the case of termination, clients will receive refunds in a timely manner. Veris Wealth Partners, LLC Page 14 In the event a client terminates our financial planning and/or consulting services, the balance of the client’s unearned fees (if any) will be refunded to the client. 6. PERFORMANCE BASED FEES & SIDE-BY-SIDE MANAGEMENT Neither Veris nor any of its supervised persons manage any accounts for which Veris charges a performance- based fee.