Advance Capital Management Inc

Item 5: Fees and Compensation
Individuals

Clients pay for our investment advisory services by paying us a fee based on the amount of assets under
management. Our Annual Fee Schedule is generally: 1.0% of the first $500,000, 0.8% of the next
$500,000, 0.65% for any remaining amount over $1,000,000. Households ("HH") under
$200,000 are subject to an additional service fee as follows: $40 between $1,000 - $10,000 in HH assets,
$50 between $10,000 - $50,000 in HH assets, or $100 between $50,000 - $200,000 in HH assets. We
may also, in our discretion, negotiate fees based upon certain additional factors.

Fees are separately billed at the end of each month based on the fair market value of the assets held in
the client’s account(s) on the last day of the month that are managed by us. Fees are deducted directly
from the client’s account(s) monthly through the custodian that holds the client’s assets. No fees are
collected in advance of service. In addition to our fee, each client is responsible for paying any transaction
costs associated with purchasing and selling securities, including mutual funds, as part of the fee-based
service.

Please see the section titled “Item 12: Brokerage Practices” for more information on the firm’s brokerage
practices.

When clients invest a portion of their portfolio in mutual funds or ETFs there will be a layering of
management fees. This occurs because assets invested in mutual funds are also subject to various other
fees and expenses that are described in the mutual fund’s prospectus. These fees and expenses are paid
by the mutual fund but are ultimately borne by clients as shareholders of the mutual fund. These fees
and expenses include investment advisory, administration, distribution, transfer agent, custodial, legal,
audit and other customary fees and expenses related to mutual funds.

Institutional

Institutional clients and other investment advisers utilizing our model portfolios for their clients through
intermediaries or custodian platforms pay a fee of 0.25% of assets under management. All other
platforms will be charged according to the services offered through that platform and will
typically range between 0.25% and 0.40%. We may also, at our discretion, negotiate fees based
upon certain additional factors which could include a flat fee.

For institutional clients and other investment advisers, our advisory fee is billed on a quarterly or annual
basis, as specified in your Investment Advisory Agreement. Advisory fees may be deducted directly from
your account, or in some circumstances billed directly for such fees. In addition to our fee, each
client is responsible for paying any transaction costs associated with purchasing and selling securities
as part of the fee-based service.

Use of Independent Managers

As noted in Item 4, we may implement all or a portion of a client’s investment portfolio utilizing one or
more Independent Managers. In these arrangements, we will be compensated via a fee share from the
advisors to which we direct those clients. This creates a conflict of interest in that we have an incentive
to direct clients to the Independent Managers that provide us with a larger fee split.

We will always act in the best interests of the client, including when determining which Independent
Manager to recommend to clients. For client accounts implemented through an Independent Manager,
the client’s overall fees will include our investment advisory fee plus investment advisory fees charged
by the Independent Manager. The Independent Manager will assume responsibility for calculating the
client’s fees and deduct all fees from the client’s account.

Retirement Plans

For management of a company’s retirement plan a minimum annual fee of $1,500 will be applied.

Fiduciary Investment Management Fee Schedule:
The fees under the Agreement are payable at an annual rate based as a percentage of the market value
of the Plan’s total assets, in accordance with the following progressive schedule:

              Plan Assets                                             Annual Fee
           First $2,000,000                                              0.50%
           Next $3,000,000                                               0.30%
           Assets over $5,000,000                                        0.10%

Chief Retirement Officer Employee Program Schedule (optional and additional):
             Plan Assets                                              Annual Fee
              All Assets                                              0.05%

We may also, in our discretion, negotiate fees based upon certain additional factors which could include
a different schedule or a flat fee.

All fees are either paid directly by the plan sponsor, charged directly to the participants through the
plan’s record-keeper or deducted directly from the client's account through the custodian that holds the
client's assets.

All fees are payable quarterly in arrears based on the market value of the Plan’s total assets on
the last business day of the previous quarter. The fees for any quarter will be payable as of the beginning
of the month immediately following t h e p r i o r quarter end. The advisor will prorate fees for the
Plan b a s e d o n t h e d a t e the Account is initiated or terminated during a calendar quarter.
Unless indicated, flat fees are subject to an annual inflation adjustment.

The fees above reflect our only compensation and do not include any third-party brokerage commissions,
transaction fees, and other related costs and expenses incurred in connection with providing investment
management services to the Plan. Mutual funds and ETFs also charge internal management fees, which
are disclosed in the fund’s prospectus. Such charges, fees and commissions are in addition to the annual
investment management fee.

Item 7: Types of Clients
We provide investment advice to individuals, investment advisers, investment companies, pension, profit
sharing and other forms of retirement plans, trusts, estates, charitable organizations, and corporations.