As a fee-only investment advisor, Northland Capital Management is held to a fiduciary standard regarding the management of our clients' investments. A fiduciary standard is a legal relationship that requires we act with undivided loyalty to our clients.

We fulfill our fiduciary duty in a variety of ways. One way we fulfill our fiduciary duty is by providing flexibility. Unlike many Wall Street firms whose advisors generally rely on their employer to hold clients' accounts and execute orders, Northland Capital Management unbundles these functions. We currently use Fidelity to hold our clients' accounts and execute orders because we believe Fidelity provides our clients with the best overall value. However, should our assessment change in the future, we are free to recommend that our clients change brokerage firms.

Northland Capital Management is solely compensated by fees our clients pay to manage their portfolios. Some investment advisors also receive "soft dollar" payments where vendors or business partners pay for certain business expenses in exchange for the investment advisor's business. Northland Capital Management does not allow our vendors or business partners to pay for any of our firm's business expenses.