Administration

At the end of every month, account statements are provided detailing portfolios costs, market value, relative weighting and other information. Each dividend payment, interest payment, cash disbursement or other transaction is recorded as it occurs both within our own firm and with the clearing broker, and reconciled each month and quarter to ensure proper accuracy. Levy, Harkins clients receive directly from the executing broker original confirmations of each transaction within a few days of its completion.

Each quarter we write to you, commenting on some facet of our current investment tactics, and presenting to you in one global and easily understandable number how you are doing for the quarter and the year. And, of course, you are only a phone call away, any day, from knowing the exact value of your account.

Unless otherwise agreed with a client, accounts are domiciled at National Financial Services, LLC (NFS), a member of the New York Stock Exchange. Financial statements for National Financial Services, LLC (NFS) and Levy, Harkins & Co. and Part 2A of Form ADV as filed with the Securities and Exchange Commission are available upon request.

For most accounts, fees are assessed quarterly at the rate of 3/8 of 1% per quarter of the value of assets under management (1 1/2% per annum). Fees may be paid directly by check, or debited automatically from the account at the client’s discretion. Generally, Levy, Harkins & Co. acts as securities broker at agreed upon commission rates and uses the services of National Financial Services, LLC (NFS) for custody and clearing. All commissions unless otherwise provided are discounted at an average of 75% from the posted rates of National Financial Services, LLC (NFS).