From Day 1, we have sought to build a platform that helps ETF sponsors win with a dedication to affordability, turnkey operations, and transparency. We are honored that you have chosen us as your ETF partner, and we would like to share some good news.

1) Despite large inflation increases, we have lowered your costs via our scale and dedication to efficiency.

• An “inflation” holiday via no inflation increases through 12/31/2024. Through service provider negotiations and efficiency improvements, we are confident we can internalize inflation risks for the foreseeable future (through 12/31/2024). If we continue to grow and lean on our counterparties via our scale, we are hopeful we can extend inflation holidays in the future.
• Custody minimums have been reduced by 40% per fund. Custody expense is passed through at cost, so lower costs directly benefit our partners. We have achieved a 40% reduction in custody minimums, meaning smaller funds will save thousands annually.
• Effective immediately, funds that achieve a three-year anniversary will receive a one-time $5k rebate. In the spirit of fostering long-term relationships, we are also rebating $5k back to our long-term platform partners at the end of the year.
• Thanks to your referrals, we spend virtually nothing on marketing, translating into lower platform costs. Referrals, reference checks, and helping us spread the word eliminate the need for sales and marketing, which allow us to keep costs down.

2) We are reinvesting profits from the business to improve efficiency and client service.

• We have invested over $1M run-rate in operations, compliance, and scalable technology, without cost increases, since 2021. Over the past 24 months, we have upgraded personnel, trading systems, compliance infrastructure, board reporting, and regulatory processes. We remain lean and focus on the Marine Corps mantra of “Do more with less.”
• We have passed on aggressive private equity investments; instead, we are investing in the team. Private equity capital provides short-term incentives that may not align with long-term efficiency and quality of service. We have onboarded fantastic team members with high integrity, capability, and passion, and we are incentivizing them with an “owner-operator” mindset via an equity plan. We believe this equity plan will ensure we maintain a long-term focus on efficiency and the quality of our services.

3) You are cordially invited to the ETF Architect Marine Corps Ball, on Nov 9. Before invading Iraq in March 2003, General Mattis’ letter to the 1st Marine Division enjoined his Marines to “Keep faith in your comrades on your left and right…[and] fight with a happy heart and strong spirit.” Thank you for being our comrades and helping us fight with happy hearts. In the spirit of camaraderie, we are hosting the first-ever ETF Architect Marine Corps Birthday Ball on November 9, 2023. Please save the date (invitation to follow).