Apple Tree Asset Management LLC

Item 5 – Fees and Compensation
FINANCIAL PLANNING SERVICES
Comprehensive Financial Planning: We charge a fixed fee that ranges from $1,000 to $5,000 for
comprehensive financial planning. The fee varies and depends upon the nature and complexity
of each client’s individual circumstances.
Financial Consulting Services: We assess an hourly rate of $250 for financial consulting services
with a minimum of one hour per engagement. The number of hours will vary depending upon
the complexity of the financial situation, preparation, research and number of meetings.
All financial planning and consulting fees are agreed upon signing the financial planning and
consulting agreement and collected upon delivery of the financial plan or consulting service. The
fees are negotiable and may be waived at the firm’s discretion.
PORTFOLIO MANAGEMENT SERVICES
We charge an annual management fee that is based on the assets under management in the
client’s account. The annual management fee is based on the following tiered fee schedule:
                Custodian Reported Account Value       Annual Management Fee
                        First $0 - $500,000                    1.50%
                    Next $501,000 - $750,000                   1.25%
                   Next $750,001 - $1,000,000                  1.00%
                        Next $1,000,000 +                      0.75%
An administrative fee of 0.25% is charged in addition to the management fee.
A tiered fee schedule means that the applicable rate will be applied to the custodian reported
value in each account value range. For example, with an account value of $750,000, the first
$500,000 will be charged 1.50% and the next $250,000 will be charged 1.25%. Each client’s fee
schedule will be described in his or her investment management agreement.

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The management fee is calculated and billed monthly in arrears using the daily average assets
under management (AUM). This means we collect the management fee at the end of the
monthly billing period. The management fee will be based on the average daily account balance
for the month as reported by the custodian. The fee will be directly deducted from the client’s
account (See Item 15 for additional details). The management fee is negotiable based on the
size of the account. The client may aggregate accounts to achieve a lower management fee.
Our management fee does not include ticket charges, transaction fees, and other related costs
and expenses that are normally incurred by the client. Clients may incur certain other charges
imposed by the custodian, trading broker, deferred sales charges, odd-lot differentials, transfer
taxes, wire transfer fee, electronic fund transfer fees, and other fees and taxes on brokerage
accounts and securities transactions. Mutual funds and exchange traded funds also charge
internal management fees, which are disclosed in a fund’s prospectus. Such charges, fees and
commissions are exclusive of and in addition to, our fee and we will not receive any portion of
these commissions, fees, and costs. For more information about our brokerage practice please
see Item 12.A.
RECOMMENDATION OF THIRD PARTY INVESTMENT ADVISER
In certain situations, when recommending a Third-Party Adviser, we will be treated as a solicitor
of the recommended Third-Party Adviser. When we are acting as a solicitor it does not charge a
separate fee for the Recommendation of Third-Party Investment Adviser Services. Instead, we
enter into an agreement with the Third-Party Adviser and share a portion of the Third-Party
Adviser’s management fee that is charged to the client. Our portion can be up to 50% of the
Third-Party Adviser’s management fee. The exact amount will be disclosed in the Third-Party
Adviser’s Solicitor Disclosure Document, which is given to the client upon engagement.
Additionally, when the management fee is withdrawn (quarterly or monthly, in advance or in
arrears) will vary with each Third-Party Adviser. These details will be disclosed in the Third-Party
Adviser’s ADV Part 2A and the Third-Party Adviser’s Solicitor Disclosure Document; both
documents will be given to the client upon solicitation.
As established in Item 10.D – Other Industry Affiliations, by receiving a portion of the Third-Party
Advisor’s management fee, this creates a conflict of interest for the Adviser. The sharing of the
management fees creates a financial incentive to recommend Third-Party Advisers that would
pay Adviser a higher percentage of their fee. Adviser attempts to mitigate the conflict of interest
to best of its ability by placing the client’s interest a head of its own, through its fiduciary duty
and by following its Code of Ethics that establishes ideals for ethical conduct.
QUALIFIED RETIREMENT PLAN CONSULTING
Our advisory fees may be an hourly fee, a fixed fee, or a fee based on a percentage of assets
under management in the plan. We negotiate the type of fee with the client.
Hourly Fee: Our hourly rate is $250. The fee may be negotiable based on the services provided.
Fixed Fee: We charge an annual fixed fee ranging between $1,000 to $50,000. The fixed fee is
negotiable based on the size of the plan.
Assets Under Management Fee: We charge an annual management fee based on the asset in the

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plan. The annual management fee is up to 0.75%. The management fee is negotiable based on
the size of the plan and services provided.
Hourly fees are billed monthly in arrears as the hours are accrued. Fixed and assets under
management fees are calculated and billed quarterly in arrears. This means we collect the fee at
the end of the quarterly billing period. The assets under management fee will be based on the
custodian reported plan value as of the last business day of the quarter.
...

Item 7 – Types of Clients
We offer our services to individuals, high net worth individuals, charities, corporations and other
business entities, and pension and profit-sharing plans. We require a minimum account size of
$50,000. This may be waived at our discretion.