Novice Capital LLC

Novice Capital LLC is a single‑advisor registered investment adviser that provides ongoing discretionary portfolio management and prepares an Investment Policy Statement tailored to each individual or high‑net‑worth client. The firm’s brochure reports approximately $12.05 million in discretionary assets under management across five client accounts and lists investment options including equities, fixed income, ETFs, real estate funds, commodities and non‑U.S. securities.

The brochure describes a fundamental‑analysis driven process and documents client risk tolerance, while employing a range of strategies such as long‑ and short‑term trading, margin, short sales, options and futures; accounts may be managed on a discretionary basis. Fees are primarily asset‑based, but for qualified clients the firm discloses a performance‑based arrangement (a 1.00% AUM fee plus a 25% performance fee subject to a high‑water mark) with clients able to elect a hurdle benchmark or a flat 6% threshold.

Distinctive details in the brochure include explicit use of non‑U.S. securities and a discussion of associated foreign‑investment risks, a firm requirement that clients use Interactive Brokers as custodian, and disclosure that the adviser may receive soft‑dollar research benefits. The combination of a small, boutique client base, acceptance of performance‑based fees only for qualified (including company) clients, and active use of derivatives and international securities differentiates the firm from most solo independent advisers.