Advisor Resource Council

Item 5: Fees and Compensation

     This item describes the fees we charge for our advisory services, including general descriptions of
     the fees charged by third-party money managers and how our fees are calculated and paid.

     Investment Advisory Services

     Fees for Advisory Services
     For investment advisory services that we provide, clients pay fees based on assets under our
     management, using one of the methods below. The maximum fee schedules are as follows:

                                         WRAP FEE PROGRAM
                          PERCENTAGE OF ASSETS UNDER MANAGEMENT*
                          Assets Under Management    Maximum Annual Fee
                          $0 to $499,999                   2.50%
                          $500,000 to $999,999             2.50%
                          $1,000,000 to $1,999,999         2.50%
                          $2,000,000 to $4,999,999         2.50%
                          Over $5,000,000                  2.50%

     Please note that the Firm’s internal strategies are only available in the Wrap Fee Program.

                                 TRADITIONAL ASSET MANAGEMENT
                         PERCENTAGE OF ASSETS UNDER MANAGEMENT*
                         Assets Under Management   Maximum Annual Fee
                         $0 to $499,999                  2.25%
                         $500,000 to $999,999            2.25%
                         $1,000,000 to $1,999,999        2.25%
                         $2,000,000 to $4,999,999        2.25%
                         Over $5,000,000                 2.25%

     *Fees are billed quarterly in advance, based on the value of each client’s account on the last day of
     the previous quarter. More information about how fees are calculated and paid is provided below the
     Section “Calculation and Payment of Fees.”

                                        FLAT ANNUAL FEE*
             Assets Under Management                 Maximum Annual Fee
                    $0 to $499,999                            $11,500
                 $500,000 to $999,999                         $22,000
               $1,000,000 to $1,999,999                       $42,000
               $2,000,000 to $4,999,999                      $100,000
                   Over $5,000,000         Max of $100,000 for each $5,000,000 increment

     *Fees are billed in arrears, quarterly, semi-annually or annually. More information about how fees
     are calculated and paid is provided below in the Section “Calculation and Payment of Fees.”

ADVISOR RESOURCE COUNCIL FORM ADV PART 2A                                                                    12

     Our maximum fees (above) are negotiable under appropriate circumstances. When we negotiate
     fees, we may consider factors such as the fees that our client has paid to a competitor for similar
     services, the totality of our relationship with the client, the potential for future business, the
     complexity of the client’s investment strategy, and the degree to which we provide discretionary
     asset management. The annual fee rate is subject to change based on the client’s asset levels and
     any associated risks. This includes scenarios where a client’s fee rate, as a percentage of assets
     under management, may substantially increase if their assets decrease. The Firm will calculate the
     flat fee as a fixed dollar amount, which, when divided by a lower asset base, results in a higher
     percentage fee.

     Financial Planning and Consulting Fees
     For financial planning and consulting services, we charge an hourly or flat fee. The total estimated
     fee, as well as the actual fee, is based upon the scope and complexity of the engagement. Our
     hourly fees range between $100 and $500 based upon the experience of a client’s advisor. Our flat
     fees range between $50 and $15,000. Fees are charged in advance.

     Retirement Plan Consulting Fees
     Fees for retirement plan consulting may be charged using one or more of the following methods:

        ▪   An hourly fee or fixed fee for a specific transaction or project;
        ▪   An ongoing fixed fee, charged quarterly or annually;
        ▪   An ongoing fixed fee for each participant in the plan, charged quarterly or annually; and/or
        ▪   An ongoing asset-based fee.

     Our fees for retirement plan consulting services (both the amount and type) are negotiated, taking
     into consideration factors such as the size of the retirement plan, the number of participants in the
     plan, whether we serve as a 3(21) or a 3(38) fiduciary, the size of individual accounts maintained in
     the plan, fees previously paid by the plan for similar services, total fees paid by the plan, and similar
     factors. If we charge an asset- based fee, the fee will not exceed the asset-based fees we charge for
     other investment advisory services (described above under the heading “Fees for Advisory
     Services”), taking into account other forms of fees we may be paid for our retirement plan consulting
     services.

     When providing consulting services to retirement plans, we do not receive additional compensation,
     whether direct or indirect, from any third-party vendor providing services to a retirement plan for
     which we provide consulting services, nor do we share or receive revenue from any mutual fund,
     exchange traded fund or similar investment offered under a plan.

     Referrals to Third-Party Money Managers
     If advisory services are provided by a third-party money manager, including LPL, fees will be paid to
     that manager. Fees charged by third-party managers are included in each manager’s Form ADV
     Part 2, including any relevant supplement.

     We are paid by third-party money managers when we make a referral to them and a managed
...

Item 7: Types of Clients

     We have the following types of clients:

        ▪   Individuals, including high net worth individuals;
        ▪   Retirement plans, such as 401(k), pension and profit-sharing plans;
        ▪   Charitable organizations; and
        ▪   Business enterprises, including corporations, limited liability companies, and partnerships.

     Account Minimums
     Account minimums may be imposed by third-party money managers or in LPL advisory programs,
     which are disclosed above in Item 4.