Allred Capital Management LLC

Item 5 Fees and Compensation
General Fee Information

Clients enter into one of two fee arrangements. For most discretionary portfolio management services,
clients participate in a Wrap Fee Program ("Wrap Program"). The Wrap Program fee structure includes
the brokerage expenses (e.g., commissions, ticket charges, etc.) of the account, charges for custody
services, the management fee paid to the Adviser and the fees of any Managers. Under the all-
inclusive billing arrangement, the Adviser will assess one client fee that captures the management,
brokerage, custody and administrative portions collectively. Any portion of Wrap Program fees that the
Adviser does not pay to third parties in connection with transaction and execution expenses and/or to
Managers is retained by the Adviser. Because of this, the Adviser may have a disincentive to trade
securities in client accounts. For IAD accounts, the Wrap Program is sponsored by the Adviser, and for
AMS and RJCS accounts, the Wrap Program is sponsored by Raymond James & Associates, Inc. The
Adviser does not have a minimum portfolio asset value size requirement for IAD accounts, but, in its

discretion, may establish one in the future. There are minimum portfolio asset value size requirements
for AMS and RJCS accounts, which are established by Raymond James & Associates, Inc in its sole
discretion from time to time.

For certain discretionary portfolio management services with respect to IAD accounts and for all non-
discretionary portfolio management services, clients will pay management fees to the Adviser
separately from the brokerage expenses and transaction costs of the account. The brokerage
expenses may take the form of asset-based pricing, meaning that the broker-dealer charges the
account a flat-rate percentage to cover all brokerage expenses, or these expenses may be assessed
on a per-trade basis. Please see Item 12 - Brokerage Practices for additional information.

In either of these arrangements, the fees noted above are separate and distinct from the internal fees
and expenses charged by mutual funds, exchange-traded funds ("ETFs") or other investment pools to
their shareholders (generally including a management fee and fund expenses, as described in each
fund's prospectus or offering materials), mark-ups and mark-downs, spreads paid to market makers,
fees for trades executed away from the custodian, wire transfer fees and other fees and taxes on
brokerage accounts and securities transactions. The client should review all fees charged by funds,
brokers, the Adviser and others to fully understand the total amount of fees paid by the client for
investment and financial-related services.

Portfolio Management Fees
Portfolio management fees are individually negotiated with each client, are based on a percentage of
assets under management, and are generally subject to the following maximum fees, based on the
account type:

              Account Type                             Fee Rate
                    IAD                                  1.50%
                    AMS                                  1.75%
                   RJCS                                  1.75%

Factors considered in determining the fees charged generally include, but are not limited to: the
complexity of the client's portfolio; assets to be placed under management; anticipated future assets;
related accounts; portfolio style; account composition; or other special circumstances or requirements.
The specific fee schedule will be identified in the investment advisory agreement between the client
and the Adviser. The Adviser may, at its discretion, make exceptions to the foregoing or negotiate
special fee arrangements where the Adviser deems it appropriate under the circumstances.

Portfolio management fees are generally payable quarterly, in advance, based on the value of the
managed portfolio on the last business day of the previous calendar quarter. If management begins
after the start of a quarter, fees will be prorated accordingly. Fees are normally debited directly from
client account(s), unless other arrangements are made.

Either the Adviser or the client may terminate their investment advisory agreement at any time, subject
to any written notice requirements in the investment advisory agreement. In the event of termination,
any paid but unearned fees will be promptly refunded to the client based on the number of days that
the account was managed, and any fees due to the Adviser from the client will be invoiced or deducted
from the client's account prior to termination.

Separate Account Manager Fees
When one or more Managers are utilized, the Manager(s)' fees will be included in the Adviser's fee
charged to the client account (typically, through a Wrap Program).

Wrap Program Fees
Fees for clients participating in a Wrap Program are charged in accordance with the annual fees
described above. With respect to clients participating in a Wrap Program, the Adviser generally
receives the total fee charged less: (1) the fees charged by any Manager(s); and (2) the amounts paid
by the Adviser for all transaction and execution expenses.

Goal Planning and Monitoring Services Fees
When the Adviser provides Goal Planning and Monitoring Services to a client, these fees may be
included in the portfolio management fees or may be in the form of an hourly rate or fixed fee that is
negotiated at the time of the engagement and are normally based on the scope of the engagement.

Item 7 Types of Clients
The Adviser serves individuals, trusts, foundations, endowments, and corporate entities.