Abel Hall LLC

ITEM 5 - FEES AND COMPENSATION
Investment Management Fees and Compensation
Our Firm charges an advisory fee as compensation for providing Investment Management
services on client accounts. These services include advisory services, investment
supervision, and other account-maintenance activities. Our custodian charges custodial
fees, redemption fees, retirement plan and administrative fees or commissions. Financial
planning services by our firm are included in advisory fees outlined below. See Additional
Fees and Expenses below for additional details.
Our maximum investment advisory fees as a percentage of assets under management is
1.50%. The specific advisory fees are set forth in your Investment Advisory Agreement
Asset-based fees are billed quarterly in advance and calculated on the last business day
of the prior quarter. There may be a possibility for price or account value discrepancies
due to quarter-end transactions in an account. Dividends or trade date settlements may
occur, and our third-party billing software may report a slight difference in account
valuation at quarter end compared to what is reported on your Statement from the
Custodian. Our firm has the ability to produce billing summaries, which can be provided
upon request.
Clients may make additions to and withdrawals from their account at any time. Additions
may be in cash or securities provided that Abel Hall reserves the right to liquidate any
transferred securities or decline to accept particular securities into a client’s account.
Clients may withdraw account assets, subject to the usual and customary securities
settlement procedures. All additions and withdrawals in an amount exceeding $50,000
will be pro-rated and either charged the appropriate fee in the next billing cycle or credit
the fees in the next billing cycle for partial withdrawals. Fees are assessed on all assets
under management, including securities, cash, and money market balances. Margin
account balances are included in the fee billing. We may negotiate a lower advisory fee
or have the right to waive fees. Fees may vary based on the size of the account, complexity
of the portfolio, extent of activity in the account or other reasons agreed upon by us and

                  Abel Hall, LLC– 9270 Siegen Lane, Suite 202, Baton Rouge, LA 70810
                                       FORM ADV 2A Brochure

the client. In certain circumstances, our fees and the timing of the fee payments may be
negotiated.
Unless otherwise instructed by the Client, we will aggregate related client accounts for
the purposes of determining the account size and annualized fee. The common practice
is often referred to as “householding” portfolios for fee purposes and may result in lower
fees than if fees were calculated on portfolios separately. Our method of householding
accounts for fee purposes looks at the overall family dynamic and relationship. When
applicable and noted in the Investment Management Agreement, concentrated stock
positions may also be excluded from the fee calculation.
The independent qualified custodian holding your funds and securities will debit your
account directly for the advisory fee and pay that fee to us. You will provide written
authorization permitting the fees to be paid directly from your account held by the
qualified custodian. Further, the qualified custodian agrees to deliver an account
statement to you on a quarterly basis indicating all the amounts deducted from the
account including our advisory fees.
Either party giving written or verbal notice to the other may cancel the Investment
Advisory Agreement at any time for any reason. Notice given by the client shall be
effective upon actual receipt by Abel Hall at the address specified on the Investment
Advisory Agreement or the then current address. The management fee will be pro-rated
to the date of termination, for the month in which the cancellation notice was given and
the unearned fee refunded to your account as indicated in your Agreement. Upon
termination, you are responsible for monitoring the securities in your account, and we
will have no further obligation to act or advise with respect to those assets. In the event
of client’s death or disability, our Firm will continue management of the account until we
are notified and given alternative instructions by an authorized party.
We will not require prepayment of more than $1200 in fees per client, six (6) or more
months in advance of providing any services.

Third Party Money Manager (“TPMM”) Fees and Services
Abel Hall has contracted with a TPMM to provide access to their portfolio modeling,
account trading and administration systems. TPMM fees and services will be indicated
on your Investment Advisory Agreement. The TPMM fee is included in the investment
advisory fee charged by Abel Hall. Total TPMM and Abel Hall fees are not to exceed
1.50%.

The services provided by the TPMM include:
     • Assessment of the client's investment needs and objectives
     • Implementation of an asset allocation
     • Delivery of suitable style allocations (e.g., Large Cap, Small Cap, Growth, Value,
       etc.)

                  Abel Hall, LLC– 9270 Siegen Lane, Suite 202, Baton Rouge, LA 70810
                                       FORM ADV 2A Brochure

    • Facilitation of portfolio transactions
    • Ongoing monitoring of investment vehicles performance
    • Review of client accounts for adherence to policy guidelines and asset allocation
    • Recommendations for account re-balancing, if and when necessary
    • Reporting of client portfolio performance and progress
    • Engaging selected investment vehicles on behalf of the client

A TPMM relationship may be terminated at the IAR’s discretion. Abel Hall may at any
time terminate the relationship with a TPMM that manages your assets. Abel Hall will
notify you of instances where we have terminated a relationship with any TPMM you are
...

ITEM 7 - TYPES OF CLIENTS
We provide investment advice to individuals, high net worth individuals, foundations,
retirement plans, charitable organizations, estates and trusts. The minimum initial
account value for opening an account with our firm is $2 million. We reserve the right to
make exceptions, at our discretion, on a case by case basis.

                   Abel Hall, LLC– 9270 Siegen Lane, Suite 202, Baton Rouge, LA 70810
                                        FORM ADV 2A Brochure