Arthur Stein Financial LLC

Item 5 – Fees and Compensation
The following paragraphs detail the fee structure and compensation methodology for services provided by the
Advisor. Each Client engaging the Advisor for services described herein shall be required to enter into one or
more written agreements with the Advisor.

A. Fees for Advisory Services
Portfolio Management Services
Investment advisory fees are paid quarterly, in advance of each calendar quarter, pursuant to the terms of the
investment advisory agreement. Investment advisory fees are based on the market value of assets under
management at the end of the prior calendar quarter.

                                                Arthur Stein Financial LLC
                                    6701 Democracy Blvd, Suite 300, Bethesda, MD 20817
                                         Phone: (301) 377-9407 Fax: (240) 986-9578
                                              http://ArthurSteinFinancial.com

Investment advisory fees are based upon the value of the Portfolio being managed by Advisor. One of the following
two schedules is used:

                    Investment Portfolios Over $1 million                           Annual Fee
                    $0 to $1,000,000                                                      1.00%
                    $1,000,001 to $2,000,000                                              0.75%
                    $2,000,001 to $3,000,000                                              0.60%
                    $3,000,001 to $4,000,000                                              0.50%
                    $4,000,001 and higher                                                 0.40%

                    Investment Portfolios Under $1 million                          Annual Fee
                    $0 to $750,000                                                        1.50%
                    $750,001 to $1,000,000                                                1.25%

The minimum investment is $750,000. ASF reserves the right to raise or lower the minimum investment on a case-
by-case basis.

The investment advisory fee in the first quarter of service is prorated from the inception date of the account[s] to the
end of the first quarter. Fees may be negotiable at the sole discretion of the Advisor. The Client’s fees will take into
consideration the aggregate assets under management with Advisor. All securities held in accounts managed by
ASF will be independently valued by the Custodian. ASF will not have the authority or responsibility to value
portfolio securities.

For Clients with less than $750,000 in assets under management, ASF offers portfolio management and ongoing
financial planning as separate services. The investment management fee is at an annual rate of up to 1.50%.

Financial Planning Services
ASF offers financial planning services on an hourly basis or for a fixed fee. Hourly fees range up to $400. Fixed
fees range up to $7,500. Fees may be negotiable depending on the nature and complexity of each Client’s
circumstances. An estimate for total hours and/or total costs will be provided to the Client prior to engaging for
these services. Fees for ongoing financial planning services are offered for a fixed annual fee, payable monthly or
quarterly, at a rate of up to $10,000. Ongoing financial planning fees with be based on the complexity of services,
frequency of Client interactions and other factors. Financial planning fees are negotiable at the sole discretion of the
Advisor.

B. Fee Billing
Portfolio Management Services
Investment advisory fees are calculated by the Advisor and deducted from the Client’s account[s] at the Custodian.
The Advisor shall send an invoice to the Custodian indicating the amount of the fees to be deducted from the
Client’s account[s] at the respective quarter-end date. The amount due is calculated by applying the quarterly rate
(annual rate divided by 4) to the total assets under management with ASF at the end of the prior quarter. Clients will
be provided with a statement, at least quarterly, from the Custodian reflecting deduction of the investment advisory
fee. In addition, the Advisor will provide the Client a report itemizing the fee, including the calculation period covered
by the fee, the account value and the methodology used to calculate the fee. It is the responsibility of the Client to
verify the accuracy of these fees as listed on the custodian’s brokerage statement to fully understand the total
amount of fees paid by the Client for investment and financial‐related services, as the Custodian does not assume
this responsibility. Further, ASF considers cash (i.e., money market funds) to be an asset class and as a result,
ASF includes such funds in our fee calculation, regardless of our fee model. At times, our fee will exceed the
money market yield. Clients provide written authorization permitting ASF to be paid directly from their accounts

                                                 Arthur Stein Financial LLC
                                     6701 Democracy Blvd, Suite 300, Bethesda, MD 20817
                                          Phone: (301) 377-9407 Fax: (240) 986-9578
                                               http://ArthurSteinFinancial.com

held by the Custodian as part of the investment advisory agreement and separate account forms provided by the
Custodian. If assets in excess of $100,000 are deposited into an account after the inception of a billing period,
the fee payable with respect to such assets may be adjusted, at ASF’s discretion, to reflect the interim change in
portfolio value. Fees are not increased or refunded for account activity including withdrawals, interest, dividends
or market performance in the current billing quarter. Further, Clients are advised that when transferred securities
are liquidated, they may be subject to transaction fees, short-term redemption fees, fees assessed at the mutual
...

Item 7 – Types of Clients
ASF provides portfolio management solutions and financial planning services to individuals and high net worth
individuals. The amount of each type of Client is available on the Advisor's Form ADV Part 1A. These amounts
may change over time and are updated at least annually by the Advisor. ASF generally requires a minimum
relationship size of $750,000, but may reduce this minimum at its sole discretion.