Ameritas Advisory Services LLC

Item 5 – Fees and Compensation
Fees for Asset Management Services
Fees paid to your IAR for investment advisory services (“IAR Fee”) are negotiable which may include excluding positions in your account from the IAR
fee. Program fees charged by AAS or third parties for administrative services are typically not negotiable. IARs are permitted to negotiate the asset
management, financial planning, and service fees and/or to waive, at the IAR’s expense, a client’s operational and custodian fees. It is possible that
different IARs may charge different fees for providing the same service to clients. The specific level of services you will receive, and the fees you will
be charged are dependent upon the complexity of your financial situation, the investment services to be provided, the experience and standard fees
charged by your IAR, and the nature and total dollar value of assets maintained in your account. Fees are typically charged based on a percentage
of your account value as determined by the custodian of your account, and include all positions in the account including cash, money market funds
and brokered CDs unless specifically excluded by policy or by agreement with your IAR. It is important to note that in periods where securities
outperform, holding cash, money market funds and brokered CDs in your account can significantly reduce your returns when you pay advisory fees
on these types of investments.
Advisory programs have additional fees such as platform fees, transaction fees, fees to third-party investment advisers and clearing and custodial
fees that are separate from your IAR’s fee. A portion of your total fee may be allocated to an administrative fee which is paid to AAS and covers
administrative and supervisory services. Notwithstanding the foregoing, all withdrawals from your account, apart from any fees automatically
deducted from your account pursuant to your advisory agreement or your brokerage account agreement, are required to be authorized by you.
The administrative fee may be based on a sliding scale depending on the size of the assets in the account or a flat fee. Generally, program fees
are not negotiable. Although rare, AAS, at its discretion may discount its program fee. When the administrative fee is part of your overall fee,
the administrative fee reduces the portion of the overall fee paid to your IAR. In these cases, a discounted administrative fee is available to IARs
based upon the aggregate total of account fee billings of all clients your IAR maintains in an advisory program. If your IAR receives a discounted
administrative fee, your IAR’s compensation will increase by the amount of the discount received. Your total account fee and cost will remain
unchanged unless your IAR lowers your fee. As such, your IAR has an incentive to utilize a program that offers discounted administrative fees to
increase his or her overall compensation. These fees, including minimum fees are outlined in more detail below.
Fee arrangements can be either linear or tiered depending on the program selected. Some programs provide both linear and tiered fee options. When
choosing a linear fee arrangement, you will pay a fixed percentage on the entire value of the account that cannot exceed the maximum fee for any
tier. For example, if the fixed fee is 1.00%, this amount would be applied to the total account value. In a tiered fee arrangement, once the value of
your account meets the next tier, the new rate will be applied to all assets above the tier up to the next tier. For example, you will pay 2.00% on the
first $250,000 in assets, 1.75% on the next $250,000, and so on.
If you purchased Class A, B, C (or other commission-based) mutual fund shares or unit investment trusts (“UITs”) that were subject to a commission
and sold to you by your IAR in his or her capacity as a registered representative of AIC on a commission basis and these shares are transferred to
your advisory account within two years of the date of purchase, AAS will credit your account a pro rata amount of the commission as a fee credit
or send a check to your address of record. Credits will not be applied to assets transferred to an advisory account that were purchased through a
broker/dealer other than AIC or matured UITs. Credits will only be applied if the amount of the credit is $100 or more. In addition, the value of any
investment designated as an “alternative investment product,” or mutual fund Class C shares will be excluded from the IAR fee if you purchased it in
a commission-based account through a registered representative of AIC and then transferred it to your advisory account. Other investments including
but not limited to stocks, bonds, ETFs, UITs, structured products, mutual funds, brokered CDs, money market funds, and cash transferred into your
program account, purchased at AIC, or at another broker/dealer, are subject to the investment advisory fee agreed upon in your advisory agreement.
At the discretion of your IAR, certain holdings may be excluded from billing as well. You should discuss fee exclusions with your IAR prior to opening
an account.
For programs sponsored by AAS, we are responsible for the fee calculation and requesting the debiting of all fees from your accounts held at our
approved custodians. You must provide the account custodian with written authorization to debit advisory fees from your accounts and pay the fees
to AAS. You can elect to have the fee charged to one account, or split between other accounts, or you can elect to pay us by check. Fees can only
be split between taxable accounts. We prefer to charge your accounts directly. If sufficient cash is not available to deduct advisory fees due, AAS
reserves the right to liquidate investments in your account to cover fees. You will also be responsible for any transaction fees (if not covered by your
advisory fee) resulting from the liquidation.
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Item 7 – Types of Clients
Clients may be individuals, including high net worth individuals, pension and profit-sharing plans, trusts, estates, charitable organizations and
corporations or other business entities.

Minimum Investment Amounts Required
Minimum investment amounts required for our programs are dependent upon the program selected, range of services provided, and investments
offered in the specific program. Account minimums may be waived at our sole discretion.
If an account minimum is waived but the funds available are not sufficient to implement a model selected, funds will be held in cash until such
minimum is met.

AAS 1023	                                                            Page 22 of 3803-20-26

Form ADV Part 2A Disclosure Brochure
The following is a chart of account minimums in the various managed account programs we offer.
                           Program Name                                            Account Minimum
                                Galaxy                                                  $50,000
                             Galaxy Wrap                                                $250,000
                               Galaxy II                                                $25,000
                            Galaxy II Wrap                                              $25,000
                   Ameritas Investment Strategies                                        $5,000
                Ameritas Investment Strategies Wrap                                      $5,000
                    Adviser Managed Retirement                                           $5,000
                     Adviser Managed Solutions                                           $5,000
                            Constellation                                               $25,000
                   Held Away Retirement Program                                       No minimum
            Adviser Managed Variable Products Program                 $25,000 contract value/$5,000 cash value
             Ameritas Wealth Platform – Fund Strategist                                 $10,000
              Ameritas Wealth Platform – SMA Equity                                     $50,000
            Ameritas Wealth Platform – SMA Mutual Fund                                  $50,000
             Ameritas Wealth Platform – Multi-Manager                                   $150,000
         Ameritas Wealth Platform – Adviser Directed UMA                                $150,000
             Ameritas Wealth Platform – Strategist UMA                                  $250,000
       Ameritas Wealth Platform – Private Wealth Consulting                            $1,000,000
                 Retirement Plan Advisory Services                                    No minimum
                    Advantage Advisory Program                                        No minimum

Third-party advisory programs each have their own account minimums which are further outlined in the respective advisory program manager’s
brochure. We do not have a minimum account size for financial planning and consulting services.