Amuni Financial Inc

Item 5:            Fees & Compensation

You should be aware that program fees charged may be higher or lower than those otherwise
available if you were to select a separate brokerage service and negotiate commissions in the
absence of the extra advisory service provided. The maximum annual advisory fee that AMUNI
charges under its Program fee schedules is generally up to 3.00% of assets under
management; however, total costs to a client may be higher because clients also bear other
fees and expenses, as applicable, including (without limitation) third-party manager fees,
internal expenses of mutual funds and ETFs, brokerage commissions, markups/markdowns,
spreads, and other custodial or account fees. Our fee schedules are subject to negotiation
depending upon a range of factors including but not limited to account sizes and overall range of
services provided.
You should consider the value of these advisory services when making such comparisons. The
combination of custodial, advisory and brokerage services may not be available separately or
may require multiple accounts, documentation, and fees. You should also consider the amount
of anticipated trading activity when selecting among the programs and assessing the overall
cost. Advisory programs typically assume a normal amount of trading activity and, therefore,
under circumstances, prolonged periods of inactivity or asset allocations with significant fixed
income or cash weightings may result in higher fees than if commissions were paid separately
for each transaction.
If you liquidate securities prior to initiating or after terminating Program services, you will be
subject to customary brokerage charges with respect to that transaction, in addition to any
Program fees that are applicable during the period. For securities purchased previously in a
brokerage account and subsequently moved into an advisory account, these securities will be

www.amuni.com                                                                              Page 5 of 26
(800) 868 – 6864                                                                      Form ADV Part 2A

included in the calculation of the Program fee, in addition to any previous brokerage charges
paid.
In an advisory account, you pay a fee based on the percentage of assets in your account in
accordance with an investment advisory Program agreement. Certain advisory Programs may
have higher total fees than other advisory Programs based on a number of factors including, but
not limited to, management fees, and administrative fees.
A conflict of interest exists to the extent that we have a financial incentive to recommend a
particular advisory Program that results in additional or greater compensation to us. First
Clearing charges AMUNI annual fees in basis points calculated on the total client account
portfolio value. AMUNI negotiates clearing fees and custodial fees where the amount of assets
held at First Clearing is taken into consideration. Our receipt of economic benefits from First
Clearing creates a conflict of interest because it provides an additional incentive to recommend
First Clearing. To manage this conflict of interest we periodically compare the fees charged and
services offered by our First Clearing with those offered by other Custodians.
You authorize our Clearing Agent to deduct fees at the rate indicated in the Fee Schedule for
your Program quarterly, in advance, from your account(s). For the purposes of calculating fees
in the CustomChoice Program, "Account Value" shall mean the sum of the long market value of
all Program eligible mutual funds, including accrued income. For the purposes of calculating
fees in the Asset Advisor, Private Investment Management, Fundamental Choice, and
Quantitative Choice Programs, "Account Value" means the aggregate value of all eligible long
positions, including accrued income, cash, and cash alternatives held in the Account, offset by
the value of the short positions held in the Account. When you initially enter into a short position,
the cash proceeds from the short sale will not affect your Account Value for billing purposes, but
once the value of the short position changes, this change will be reflected in your Account
Value. Accordingly, if your Account has a short position that reflects an unrealized gain, the
Account Value will increase by the amount of that unrealized gain. Similarly, an unrealized loss
will reduce your Account Value by the amount of such loss. Note that if you use the proceeds of
a short sale to purchase additional securities, those securities are included in the long positions
used to calculate your Account Value. In valuing your account, we will use the closing prices or,
if not available, bid prices of the last recorded transactions for listed securities, options, and
over-the-counter securities. For mutual funds, we will use the fund's most current net asset
value, as computed by the fund company. In doing so, we will use the information provided by
quotation services believed to be reliable. If any such prices are unavailable or believed to be
unreliable, we will determine prices in good faith so as to reflect our understanding of fair market
value.
Due to trade date or settlement date accounting, the treatment of accrued income and other
factors, the Account Value used in the calculation of fees may differ from that shown on your
monthly account statement and/or performance report.
The initial fee is calculated as of the date that the account is accepted into the program and
covers the remainder of the calendar quarter. Subsequent fees will be determined for calendar
quarter periods and shall be calculated on the value of the account on the last business day of
the prior calendar quarter.

www.amuni.com                                                                              Page 6 of 26
(800) 868 – 6864                                                                      Form ADV Part 2A
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Item 7:            Types of Clients

AMUNI provides investment advisory services primarily to individuals and high net worth
individuals.
The minimum investment to open an account at AMUNI varies by program. Requirements to
open or maintain an accountant are described above under Services, Fees, and Compensation
in the Fee Schedules. AMUNI reserves the right to waive the minimum account size and or
impose a higher minimum account size for certain investment strategies. We may terminate
Client Accounts with written notice if they fall below minimum Account value guidelines
established by us. AMUNI also reserves the right to negotiate lower fees. The management fee
is not based on capital appreciation or performance of any type.