Client Relationship Summary

Client Relationship Summary

Updated June 2020

Introduction  
Landmark Management, Inc. (referred to as “Landmark” or “us,” “our,” “we”) is registered with the U.S. Securities and Exchange Commission (“SEC”) as an Investment Adviser.  Brokerage services and investment advisory services and fees differ; it is important that you understand the differences. You can also access free and simple tools to help you research firms and financial professionals at www.investor.gov/CRS, which also provides educational materials about broker-dealers, investment advisers, and investing.

What investment services and advice can you provide me?
We offer investment advisory services primarily to family offices with an occasional retail investor.  These services include individual asset allocation, portfolio strategy, portfolio manager selection, participation in a privately offered pooled investment vehicle, and accounting, tax and administrative services.  For individual portfolios, we separately manage individually tailored investment portfolios and monitor them on a continuous basis.  Our management is non-discretionary, meaning you will make the ultimate decision regarding the purchase or sale of investments.  We offer to existing clients who are qualified investors the ability to invest in a private pooled investment vehicle, LMI Partners LLC, sponsored by our firm.  The pooled vehicle invests mostly in private equity and hedge funds.  Our accounting, tax and administrative services are primarily provided to family offices and their family members.

For additional information, please visit https://adviserinfo.sec.gov/firm/summary/157511 and refer to Items 4 of our Form ADV Part 2A. For additional information regarding LMI Partners LLC, (only offered to existing qualified clients) please review LMI Partners LLC’s organizational documents.

Conversation Starter. We encourage you to ask your financial professional:
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?

What fees will I pay?
The specific manner and amount of advisory fees charged by us are established in your written agreement.  For investment advisory services, we charge a quarterly, asset-based fee, in arrears, based upon the net value of your assets under management on the last business day of the previous calendar year, pro-rated for substantive additions and withdrawals.  This fee is exclusive of any outside manager or consultant fees. All third-party manager fees including pro-rata shares of transaction, brokerage, trade-away and custodial fees are in addition to our advisory fees.  Our fees for Accounting Services are based upon an hourly rate set annually depending upon the complexity and type of work being performed and the rate of the individual(s) involved in providing the services.  You will pay fees and incur 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.

For additional information, please visit https://adviserinfo.sec.gov/firm/summary/157511 and refer to Item 5 and 6 of the ADV Part 2A.

Conversation Starter. We encourage you to ask your financial professional:
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 providing recommendations as my investment adviser? How else does your firm make money and what conflicts of interest do you have?  
When we act as your investment adviser, we have 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 conflicts with your interests. You should understand and ask us about these conflicts because they can affect the recommendations and investment advice we provide you. Here are some additional examples to help you understand what this means.  The higher the asset value of your portfolio, the more fees we earn, which creates an incentive to increase the assets in your portfolio either by deposit or appreciation.  Certain executive officers and employees of the firm have participated in investments also recommended and owned by clients.  This creates an incentive to put their interest in transactions ahead of clients.  Landmark restricts personal participation to ensure client interests are placed ahead of officers and employees of the firm.

For additional information, please visit https://adviserinfo.sec.gov/firm/summary/157511 and refer to Item 4, 6, & 11 of the ADV Part 2A.

Conversation Starter. We encourage you to ask your financial professional:
How might your conflicts of interest affect me, and how will you address them?

​How do your financial professionals make money?

Our financial professionals are compensated with a base salary, plus annual bonus based on performance.   

Do you or your financial professionals have any legal or disciplinary history?
No, for our firm.  Yes, for one financial professional.  You may visit www.investor.gov/CRS for a free and simple search tool to research us and our financial professionals.

Conversation Starter. We encourage you to ask your financial professional:
As a financial professional, do you have any disciplinary history? For what type of conduct?

​Additional Information
For additional information about advisory services, see our Form ADV Part 2A or visit our website. You may request up-to-date information and/or copy of our relationship summary by calling (212) 794-6060

Conversation Starter. We encourage you to ask your financial professional:
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?