55I LLC

Item	5	–	Fees	and	Compensation

A.      Advisory Fees and Compensation

Clients generally pay an advisory fee based on a percentage of the market value of the assets
managed by the Adviser. Such fee is referred to as an asset-based fee.

The fees and compensation payable to 55ip, and the timing of their payment, are negotiable and
vary among Clients based upon the program, size of the account, investment objective and other
business factors. 55ip may, in its sole discretion, reduce, or waive the fee with respect to any Client.
In addition, 55ip partners with select Model Providers who may choose to subsidize all, or a portion

                                                                                           Part	2A	of	ADV:
                                                                                         55I,	LLC	Brochure

of the fees typically charged to Clients who invest in such Models. See Item 5.B, Payment of Fees,
below for more information. However, compensation is generally as follows:

Sub-Advisory Clients

In return for providing sub-advisory services, 55ip receives sub-advisory fees from Sub-Advisory
Clients. The fees paid to 55ip vary widely depending on the complexity and features of the specific
investment strategy selected by the Sub-Advisory Client and are typically between 5 and 40 basis
points per year. Sub-advisory fees are negotiated in advance and are not based on performance.
Each sub-advisory Agreement in place between 55ip and the Sub-Advisory Client specifies how sub-
advisory fees will be charged. In addition, for certain Sub-Advisory Clients, a portion of the fee is
passed through to certain Model Providers and/or Clients pursuant to contractual arrangements
between the Adviser and such Model Providers.

For certain services contracted through its affiliate, including the Tax-Smart Active and Tax-Smart
Index strategies, the affiliate, instead of the Client, compensates 55ip pursuant to a separate
arrangement.

With respect to Wrap Programs, the Adviser is paid an asset-based fee by the Sponsor in connection
with the advisory services provided. The Adviser’s advisory fee is calculated by the Sponsor based
on a percentage of the assets under management. Such compensation ranges from 5-40 basis points
annually, based on the investment mandate and the terms and conditions negotiated with the
Sponsor. In addition, in certain Wrap Programs, a portion of the wrap fee is passed through to
certain Model Providers pursuant to contractual arrangements between the Adviser and such
Model Providers. See Item 5.B, Payment of Fees, below for more information.

Trade List Clients

In return for providing trade list delivery services, 55ip receives trade list delivery fees from Trade
List Clients. In the case of Trade List Clients, 55ip bills the Trade List Client and fees are paid to 55ip
by the Trade List Client. The trade list delivery fees paid to 55ip vary widely depending on the
complexity and features of the specific investment strategy selected by the Trade List Client and are
typically between 3.5 and 30 basis points per year. Trade list delivery fees are negotiated in
advance and are not based on performance. Each Trade List Delivery Services Agreement in place
between 55ip and the Trade List Client specifies how fees will be charged. For certain services
contracted through its affiliate, the affiliate compensates 55ip in lieu of the Trade List Client. For the
On-Demand Trade List Delivery Services, the account's investment manager pays between 0.5 to 2
basis points for the delivery of trade lists and/or pays a fee for each time 55ip's tax management
technology is used in accordance with the applicable agreement.

SMA Component Fees

Where a component of individual stocks is incorporated within a Model (an "SMA Component"), a
separate, additional advisory fee is typically charged for the implementation of that SMA
Component (the "SMA Component Fee"). How the SMA Component Fee is calculated may differ
depending on the contractual arrangement between the Adviser and Client, or the contractual
arrangement between the Adviser and Model Provider responsible for the creation of the SMA
Component in question.

                                                                                        Part	2A	of	ADV:
                                                                                      55I,	LLC	Brochure

The SMA Component Fee is calculated based on the target Model allocation to the SMA Component,
as opposed to the market value of securities actually invested in the SMA Component. As a result,
accounts with an SMA Component allocation that is lower than the target Model allocation due to
market drift, will pay a higher fee than they would have if the SMA Component Fee were calculated
based on assets actually invested in the SMA Component. In addition, accounts will likely pay a
higher fee when receiving Tax-Smart Transitioning services since the degree to which the account is
invested in the SMA Component can vary based on the funding securities and the tax budget set by
the Client.

The Adviser pays some or all of this SMA Component Fee to the Model Provider (which may be the
Adviser's affiliate) in exchange for the creation of the SMA Component, which payment is also
calculated based on the methodology above. To the extent that an account is invested in less than
the full target allocation to the SMA Component, and the remainder of the account is invested in
fund products advised by the Model Provider, this SMA Component Fee will be duplicative with the
fee that the Model Provider receives for providing advisory services to those constituent fund
products.

B.     Payment of Fees

In most cases, fees are directly debited from the Client's or underlying investor's account, pursuant
to each Client's agreement. In these cases, the Client authorizes the direct deduction or withdrawal
...

Item	7	–	Types	of	Clients

55ip’s primary business is to provide sub-advisory and trade list delivery services to institutions,
including other RIAs.

The minimum account size is $50,000 for accounts electing tax management services and $10,000
for accounts without tax management services. Accounts below these specified minimums are
subject to termination at the discretion of 55ip. In certain programs, the minimum account size is
established by the Client, Sponsor, or account's investment manager.

In addition, there is an ongoing Client relationship requirement for the sum total of assets in the
Client's accounts with 55ip to be a minimum of $10,000,000 (the "Relationship Minimum"). Clients
are expected to reach or exceed this Relationship Minimum within 12 months of the effective date
of the Client's agreement with 55ip. If a Client does not reach this Relationship Minimum, the Client
and its accounts are subject to termination at the discretion of 55ip.

55ip also provides sub-advisory services on behalf of its affiliate, JPMIM. The minimum account size
for the Tax-Smart Active and Tax-Smart Index strategies is established by JPMIM and range from
$100,000-$250,000, respectively. Please refer to JPMIM's Form ADV Part 2A Brochure for
information regarding minimum account requirements.

Minimums are subject to waiver in the Adviser's discretion and are waived for Client accounts from
time to time.

                                                                                        Part	2A	of	ADV:
                                                                                      55I,	LLC	Brochure