Item 5 Fees and Compensation
Additional Fees and Expenses
Mutual fund investments in the programs that we offer are no-load or load at NAV. Your mutual fund
investments may be subject to early redemption fees, 12b-1 fees and mutual fund management fees
as well as other mutual fund expenses. These fees are in addition to our fees referenced above.
Please review the mutual fund prospectus for full details. Load at NAV refer to some mutual funds
companies that offer their load mutual funds through the Broker/Dealer community at Net Asset Value
(NAV) to some large investors. Some Fund fees include 12b-1 fees which are internal distribution fees
assessed by the Fund, all or a portion of which are paid to the distributor(s) of the Funds. Osaic and
your Advisory Representative do not retain 12b-1 fees paid by Funds.
Variable annuity companies generally impose internal fees and expenses on your variable annuity
investment, including contingent deferred sales charges and early redemption fees. In addition,
variable annuity companies generally impose mortality charges of approximately 1.25% annually.
These fees are in addition to our fees and expenses referenced above. Complete details of such
internal expenses are specified and disclosed in each variable annuity company's prospectus. Please
review the Variable Annuity prospectus for full details.
For clients who may be in Advisor Managed Portfolios non-wrap accounts, you will also be charged
transaction fees as disclosed in the Advisor Managed Portfolios Program Brochure and on your trade
confirmation. These fees are not shared with us but are transaction charges paid to Osaic and our
custodian. Please see the Other Financial Industry Activities and Affiliations section below which
explains our relationship with Osaic.
In general, we require a minimum of $50,000 to open and maintain an Advisor Managed
Portfolios, Non-Wrap Fee account and a minimum of $100,000 for a Wrap Fee account. At our
discretion, we may waive this minimum account size. For example, we may waive the minimum if you
appear to have significant potential for increasing your assets under our management. We may also
combine account values for you and your minor children, joint accounts with your spouse, and other
types of related accounts to meet the stated minimum.
There are additional fees relating to IRA and Qualified Retirement Plan accounts that you may incur
such as maintenance and termination fees. You will find these fees disclosed in the account
application paperwork provided to you associated with these accounts.
In addition to providing advisory services, our Advisory Representatives will likely also sell you
securities products and other investment and insurance products in their capacity as registered
representatives of Osaic and as licensed insurance agents. We will receive additional compensation in
connection with this activity and the amount of compensation will depend on the type of product
purchased. We will have a greater financial incentive to sell certain products as opposed to others.
While our security sales are reviewed for suitability by an appointed supervisor, you should be aware
of the incentives we have to sell certain securities products and that certain conflicts of interest exist.
Please be aware that you are under no obligation to purchase products or services recommended by
us or members of our Firm in connection with providing you with any advisory service that we offer. At
our discretion, our firm may offset our advisory fees to the extent our associated persons earn
commissions in their separate capacities as registered representatives and/or insurance agents.
Compensation for the Sale of Securities or Other Investment Products
Persons providing investment advice on behalf of our firm are registered representatives with Osaic, a
securities broker-dealer, and a member of the Financial Industry Regulatory Authority and the
Securities Investor Protection Corporation. In their capacity as registered representatives, these
persons receive compensation in connection with the purchase and sale of securities or other
investment products, including asset-based sales charges, service fees or 12b-1 fees for the sale or
holding of mutual funds. Compensation earned by these persons in their capacities as registered
representatives is separate and in addition to our advisory fees. This practice presents a conflict of
interest because persons providing investment advice to advisory clients on behalf of our firm who are
registered representatives have an incentive to recommend investment products based on the
compensation received rather than solely based on your needs. Persons providing investment advice
to advisory clients on behalf of our firm can select or recommend, and in many instances will select or
recommend, mutual fund investments in share classes that pay 12b-1 fees when clients are eligible to
purchase share classes of the same funds that do not pay such fees and are less expensive. This
presents a conflict of interest. You are under no obligation, contractually or otherwise, to purchase
securities products through any person affiliated with our firm who receives compensation described
above.