Almanack Investment Partners LLC

Item 5 - Fees and Compensation

   A.     INVESTMENT ADVISORY SERVICES

  Our annual fees for Investment Advisory Services are based upon a percentage of assets under management
  and generally range from 0.05% to 2.5%. Please consult with your individual advisor for their specific fee
  schedule.

  Wrap Fee Programs
  For clients participating in wrap fee programs (including certain accounts transitioned to the Firm), the
  Firm’s advisory fee is included as part of a single bundled fee that also covers certain brokerage and
  transaction costs. The specific fee arrangement and services provided under a wrap fee program are
  described in the client’s agreement and Almanack’s Wrap Fee Program Brochure. Depending on the level
  of trading activity, a wrap fee program may cost more or less than paying for advisory and brokerage
  services separately.

  A minimum of $100,000 of assets under management is typically required for investment advisory
  services. The minimum account size may be waived by Almanack at its discretion as Almanack does
  not have a minimum asset management fee.

  Almanack receives compensation primarily through asset-based management fees. We do not charge
  performance-based fees to clients receiving separate account investment advisory services.

  However, Almanack or its related persons may receive performance-based compensation (e.g., carried
  interest or incentive allocations) from affiliated private funds that we manage. These fees are described
  in the offering documents for each fund and are only charged to investors who meet the “qualified
  client”        standard        under       Rule        205-3        of      the      Advisers        Act.

  Fee Differentials/Conflict of Interest: Almanack shall receive an investment advisory fee based upon a
  percentage (%) of the market value of the assets placed under management (generally between 0.05%
  and 2.50%). Fees vary depending upon the complexity of the client relationship and/or based on the
  product offering. Services provided by Almanack to any particular client may be available from other
  advisers at a lower fee. All clients and prospective clients should be guided accordingly. Since an
  Almanack investment adviser representative receives a portion of the advisory fee charged to the client,
  a material conflict of interest exists because an increase in the management fee paid by the client will
  result directly in increased compensation received by Almanack’s representative.

  Limited Negotiability of Advisory Fees: Although Almanack has established the aforementioned fee
  ranges(s), Almanack retains the discretion to negotiate alternative fees on a client-by-client basis. Client
  facts, circumstances and needs are considered in determining the appropriate fee schedule. Factors include
  the complexity of the client, volume and type of assets to be placed under management, anticipated future
  additional assets; related accounts; portfolio style, account composition and reporting requirements, among
  other factors. Each client’s specific annual fee schedule is outlined in the IMA between the adviser and the
  client.

CONSULTING
  Almanack provides investment consulting services for a fixed fee or fixed rate. These fees are negotiable

  and vary, but generally range from $10,000 to $250,000 and can be one time, quarterly or annually,
  depending on the level and scope of the services provided and the resources engaged. Fees vary based
  on the services provided and are outlined pursuant to a Consulting Agreement executed by the client.
  Consulting fees are separate from, and in addition to, any investment management fees charged by
  Almanack.

FINANCIAL PLANNING
  To the extent specifically requested by a client, Almanack may provide financial planning and/or
  consulting services (including investment and non-investment related matters, including estate planning,
  insurance planning, etc.) on a stand-alone separate fee basis. Almanack's planning fees are outlined in
  a separate financial planning agreement between the client and Almanack’s advisors directly. Financial
  planning fees are separate from, and in addition to, any investment management fees charged by
  Almanack.

GENERAL
  Mutual Fund and ETF Fees: All fees paid to Almanack for investment advisory services are separate and
  distinct from the fees and expenses charged by mutual funds and/or ETFs to their shareholders. These
  fees and expenses are described in each fund's prospectus. These fees will generally include a
  management fee, other fund expenses, and a possible distribution fee. If the fund also imposes sales
  charges, a client may pay an initial or deferred sales charge. A client could invest in a mutual fund
  directly, without our services. In that case, the client would not receive the services provided by our firm
  which are designed, among other things, to assist the client in determining which mutual fund or funds
  are most appropriate to each client's financial condition and objectives. Accordingly, the client should
  review both the fees charged by the funds and our fees to fully understand the total amount of fees to be
  paid by the client and to thereby evaluate the value of the advisory services being provided.

  In addition to our advisory fees, clients are also responsible for the fees and expenses charged by custodians and
  imposed by broker dealers, including, but not limited to, any transaction charges imposed by a broker dealer
  with which an independent investment manager effects transactions for the client's account(s). Please refer to
  the "Brokerage Practices" section (Item 12) of this Form ADV for additional information.

  B.       Clients generally elect to have Almanack’s advisory fees deducted from their custodial account
  directly. Both Almanack's IMA and the custodial/clearing agreement authorize the custodian to debit
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Item 7 - Types of Clients
Clients shall generally include individuals, trusts, family offices, registered investment companies and
business entities related to those clients. Almanack generally requires a minimum investment asset level of
$100,000 for investment advisory services. Almanack, in its sole discretion, may reduce or waive its
minimum asset requirement based upon certain criteria (i.e. anticipated future earning capacity, anticipated
future additional assets, dollar amount of assets to be managed, related accounts, account composition,
negotiations with client, etc.).