Client Relationship Summary.
Bardi Co. LLC (“Bardi Co.”, “we”) is a broker-dealer registered with the Securities Exchange Commission ("SEC"). Bardi Co. is a Financial Industry Regulatory Authority (“FINRA”) member and a Securities Investor Protection Corporation (SIPC) member. We are also an Exempt Reporting Adviser ("ERA") in the state of California. ERAs are investment advisers that are not required to register as an adviser with the SEC or state regulators, but must still pay fees and report public information via the IARD/FINRA system. There are free and simple tools available to research firms and financial professionals at www.Investor.gov/CRS, which also provides educational materials about broker-dealers, investment advisers, and investing.
RELATIONSHIPS & SERVICES
A. “What investment services and advice can you provide me?”
B. Description of Services: Bardi Co. offers advisory services primarily to corporations and institutional investors, and only occasionally to qualified clients and / or accredited investors. Specifically, we offer Mergers & Acquisitions (“M&A”) advisory services, corporate finance advisory services including capital raise and business valuations services. When we represent a company or a fund that is raising capital, we can offer investment opportunities to corporations, institutional investors and sporadically to qualified clients and /or accredited investors. In particular, we can offer investment opportunities with third party investment funds and private funds that might or might not be affiliated with us. We offer such investment opportunities in our capacity as a broker. As an ERA, we offer investment recommendations only to private funds and not to individuals. At this time, we do not buy and sell securities on behalf of retail investors and we do not offer investment recommendations directly to retail investors. A retail investor makes the ultimate decision regarding subscribing to a private fund that we represent as a broker.
C. Additional Information: As a broker-dealer, we offer investment opportunities with private funds primarily to corporations and institutional investors, and only occasionally to accredited investors. We do not provide any specific investment recommendation to retail investors and/or accredited investors. In our role as a broker, we provide accredited investors with the private placement memorandum and other marketing material for the purpose of illustrating a specific investment opportunity with a private fund.
D. Conversation Starters:
“Given my financial situation, should I choose an investment advisory service?”
“Should I choose a brokerage service? Should I choose both types of services? 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?”
FEES, COSTS, CONFLICTS & STANDARD OF CONDUCT
A. “What fees will I pay?”
In our capacity as a broker-dealer, no fees are paid to us by you as the investor. Fees are paid by you to the fund or company that we represent as described in the offering documents that we provide to you as an agent of the private fund or company. We, as a broker-dealer, might receive a success fee from the fund or company based on the amount of capital that is subscribed, including the capital that you invest. The more capital is subscribed by you, the higher the success fee received by us.
We can also be the investment adviser to the private fund that you subscribe to. In this case, as an ERA we would be the investment manager of the fund and would be compensated based on the asset under management by the private fund itself. When, we also act as the investment manager of the fund, the larger the total assets under management, the higher the management fee received by us. Once you invest in the private funds that we represent, 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 what fees and costs you are paying when you subscribe to the private funds that we represent. The private fund that we represent can also be affiliated with Bardi Co., which can create a potential conflict.
Conversation Starter: “Help me understand how these fees and costs might affect my investments. If I give one of the funds that you represent $100,000 to invest, how much will go to fees and costs, and how much will be invested for me?”
B. "What are your legal obligations to me when providing recommendations? How else does your firm make money and what conflicts of interest do you have?”
We do not provide recommendations directly to you, but we might provide recommendations to the private funds that you subscribe with. 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 services, we provide to you. Here are some examples to help you understand what this means: when you subscribe to a private fund, we might be the investment adviser to the private fund and although you do not pay us directly, you will pay a management fee to the private fund and the private fund will then pay us for the investment advisory services that we provide to them.
Conversation starter: “How might your conflicts of interest affect me, and how will you address them?”
C. “How do your financial professionals make money?”
Typically, our professionals make money in the form of commissions based on the activity and capital raised for the private funds that we represent. The more capital is subscribed the higher the compensation. Our financial professionals are compensated also based on the amount of client assets they service. Clients in this case means private funds and not you directly.
“Do you or your financial professionals have legal or disciplinary history? For what type of conduct?”
No, we do not. Please visit www.Investor.gov/CRS for a free and simple search tool to research us and our financial professionals.