Regulation Best Interest Disclosures
Customer Relationship Summary
June 30, 2020
FPCG, LLC, [CRD # 122341] dba FocusPoint Private Capital Group (“FP”), has its office at 712 Fifth Avenue, New York, NY 10019 and may be contacted via phone: (212) 887-1141 or via web: www.fpcgllc.com
Relationships and Services
1. What investment services and advice can you provide me?
FP has been a FINRA registered broker-dealer since 2010 and operates a financial services business primarily engaged in assisting private investment fund managers and general partners (Collectively, “Clients”) of such private investment funds, which pursue either private equity investment strategy (“PE Funds”) or a hedge fund investment strategy (“Hedge Funds”) and together with PE Funds, “Private Investment Funds”) to raise capital through private placement of securities with eligible investors. FP’s exclusive focus is on raising capital, by way of private placements, from eligible high net worth and institutional investors for its Clients. The Firm’s Chief Executive Officer (“CEO”) is David L. Conrod.
Fees, Costs, Conflicts and Standard of Conduct
What fees will I pay Generally, a private placement memorandum of a Private Investment Fund (along with the related organizational and investor subscription documents for subscribing to interest in such Private Investment Fund) delivered to each potential investor interested in investing in such Private Investment Fund contains description of various types of the fees payable in respect of such investor’s investment in such Private Investment Fund and its quantum and method of calculation.
Without limiting the generality of the foregoing, generally, an investment made or committed by an investor in a PE Fund is charged two types of fee: an investment management fee and a performance or incentive fee. The investment management fee payable in respect of an investment by an investor in a PE Fund in our experience ranges from 1% to 3% per annum of the commitment or invested capital of such investor. In addition, a PE Fund also charges a performance or incentive fee to each investor in form of either a fee or a carried interest in respect of the investment performance that is achieved by such fund. Typically, a performance fee structured as carried interest is charged at 20% of the investment performance return of such PE Fund. As mentioned earlier, the actual fees that are charged to an investor in respect of an investor’s investment in a PE Fund will be more fully described in its private placement memorandum and could be higher than the generic ranges of such fee described above.
See Additional Representative Disclosures for further information in this regard.
2. You may also incur other fees and costs related your investments and brokerage or
investment advisory services. Each Private Investment Fund (and its investors) will generally
bear all operating expenses attributable to management of investment activities of such fund.
Such operating fees and costs may include (not limited to) Audit, Tax preparation, taxes, finders
fees, registered office and agent fees, interest expense, valuation costs, legal, marketing and
travel, organization and offering or placement costs (range from $0-$1MM), due diligence,
administration, deal and transaction costs. A private placement memorandum of a Private
investment Fund contains a description of the types and quantum of such fees and costs that
will be payable by such Private Investment Fund.
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 all types of fees and costs that will be charged against
your invested capital in a Private Investment Fund. You can find more detailed information
about fees and costs related to our services as a broker-dealer in our Reg BI Disclosures.
3. What are your legal obligations to me when providing recommendations as
my broker-dealer? How else does your firm make money and what conflicts
of interest do you have, and if such conflicts exist, how might they affect me
and how are they addressed? [See Additional Representative Disclosures for more Information on this matter]
4. How do your financial professionals make money?
FP’s professionals receive remuneration in the form of (i) fixed salary and (ii) a commission
based on a percentage rate applied to the amount of revenue created by their efforts. The
professional is typically paid 30-120 days after FP receives its fee in cash. FP typically
collects its fee in cash over a period of one to three years.
5. Do you or your financial professionals have legal or disciplinary history? NO
For a free and simple search tool to research our firm and our representatives’ disciplinary actions and
history, please go to: www.Investor.gov/CRS
6. Additional Information
For up-to-date information about our firm, our financial professionals or to request a current copy of the
relationship summary, please call 212 887 1141 or go to: www.fpcgllc.com
For contacts and complaints: On general matters, our CEO David Conrod (212-887-1141). Any matter
in the nature of a complaint may be referred to Louis Mattielli, FP’s Chief Compliance Officer, at 908-