Seven Bridges Advisors LLC
Customer Relationship Summary (Form CRS/Form ADV Part 3) ‐ June 2020
Item 1. Introduction
Seven Bridges Advisors LLC (“Seven Bridges”) is registered with the Securities and Exchange Commission (“SEC”) as an investment adviser. Clients and prospective clients should be aware that services and fees differ between investment advisors and broker‐dealers and it is important for you to understand the differences. Free and simple tools and educational materials about investment advisers and investing are available at Investor.gov/CRS, which also provides educational materials about broker‐dealers, investment advisers, and investing.
Item 2. Relationship and Services
What investment services and advice can you provide me? Seven Bridges provides financial advice and portfolio management to a select number of families and institutions (each, a “Client” and collectively, the “Clients”) and functions as its Clients’ outsourced investment office providing independent, customized investment advice and related services. Additionally, Seven Bridges acts as the investment manager to privately offered pooled investment vehicles (the “SBA Funds”) that are generally made available only to Clients and as a sub‐advisor to a select group of other privately offered investment vehicles.
Seven Bridges designs and regularly monitors a customized investment plan based on an assessment of each Client’s financial situation to address specific goals, risk tolerance and special circumstances that are relevant to management of their institutional, personal or family wealth. Seven Bridges has discretionary authority for assets in the SBA Funds and in some cases discretionary authority over client portfolios where the client prefers this arrangement. Typically, clients of Seven Bridges that have an advisory mandate (non‐discretionary) with the firm are responsible for acting on any investment advice given by Seven Bridges relating to directly held investments. Formal Client account reviews are conducted on an annual basis and performance is presented to all clients monthly. Client accounts may be reviewed on a more frequent basis in the event such reviews are necessitated by significant market events or changes in Clients’ investment objectives, cash needs or risk tolerances.
— More information about Seven Bridge’s services can be found on the Form ADV, Part 2A brochure (Item 4).
— Conversation Starter: We encourage you to ask additional questions, such as: Given my financial situation, should I choose an investment advisory service? Why or why not? How will you choose investments to recommend to me? What is your relevant experience, including your licenses, education and other qualifications? What do these qualifications mean?
Item 3. Fees, Costs, Conflicts, and Standard of Conduct
What fees will I pay?
Advisory Fee. The advisory fee covers services related to the development, implementation, monitoring and reporting of the investment plan. As a Client of Seven Bridges, you will be subject to an annual Advisory Fee, calculated quarterly in advance based on the value of your assets upon which we are providing advisory services as of the first day of such quarter (pro‐rated for partial quarters) and adjusted for any contributions or withdrawals you might make during any such quarter.
Management Fee – SBA Funds. Each SBA Fund offers classes of Interests with Management Fees ranging from 0.50% to 1.25%.
Performance Fees – Seven Bridges does not charge a performance fee on any Client Assets or SBA Fund.
Other Fees and Expenses – SBA Funds. You may be subject to other fees and expenses from other asset managers, brokerdealers or custodians recommended by but unaffiliated with Seven Bridges. These fees and expenses may include management and performance fees and related expenses, custody fees, brokerage and other trading costs, and fees related to the management of mutual funds, money market funds, fixed income investments, equities and/or exchange traded funds held in Client accounts.
Additional Information on Fees and Costs. You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying. More information about Seven Bridge’s fees can be found on the Form ADV, Part 2A brochure (Item 5).
Conversation Starter: We encourage you to ask additional questions on the impact of fees on investments, such as: Help me understand how these fees and costs might affect my investments? If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me?
What are your legal obligations to me when acting as my investment adviser? How else does your firm make money and what conflicts of interest do you have?
Standard of Conduct. When Seven Bridges acts as your investment adviser, we are required to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some potential conflicts with your interests. You should understand and ask us about these conflicts because they can affect the investment advice, we provide you. For example, there is a potential of conflict of interest with Seven Bridges valuing Client portfolios. This conflict is mitigated through the firm’s valuation policies and procedures. Additional information on conflicts of interests can be found in our Form ADV, Part 2A (Items 6, 11 and 12).
Conversation Starter: We encourage our Clients to ask additional questions on conflicts of interest, such as: How might your conflicts of interest affect me, and how will you address them?
— More information on conflicts of interest can be found on our Form ADV, Part 2A brochure.
How do your financial professionals make money? — As an owner‐operated organization with a single line of business, our interests are aligned with those of our clients. Our compensation system motivates us to protect and grow client wealth levels over time and partner with investment managers that deliver outperformance. Alignment of interests is a significant driver of investment outcome. All employees are incentivized with discretionary bonuses that are in line with our peers and market best practices.
Item 4. Do you or your financial professionals have legal or disciplinary history?
No. You can visit Investor.gov/CRS for free and simple tools to research us and our financial professionals.
Conversation Starter: We encourage you to ask additional questions on disciplinary history, such as: As a financial professional, do you have any disciplinary history? For what type of conduct?
Item 5. Additional Information
You can find additional information about our investment advisory services and request a copy of our relationship summary by calling Seven Bridge’s Chief Compliance Officer at 212‐490‐6342 or on our Form ADV, Part 2A
Conversation Starter: We encourage you to ask additional questions on contacts and complaints, such as: Who is my primary contact person? Is he or she a representative of an investment adviser or a broker‐dealer? Who can I talk to if I have concerns about how this person is treating me?