Aspen Wealth Strategies 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
Aspen Private Wealth Services
Wealth management fees are paid monthly, in advance of each month, pursuant to the terms of the wealth
management agreement. Wealth management fees are based on the market value of assets under management at
the end of the prior month. Wealth management fees are based on the following tiered schedule:

                                 Assets Under Management ($)             Annual Rate (%)
                                         $0-$499,999                         1.60%
                                     $500,000 - $999,999                     1.40%
                                    $1,000,000 - $1,499,999                  0.90%
                                    $1,500,000 - $1,999,999                  0.70%
                                    $2,000,000 - $2,499,999                  0.65%
                                    $2,500,000 - $2,999,999                  0.45%
                                         $3,000,000+                       Negotiable

Certain clients may be on a legacy fee schedule that may differ from the one above. The wealth management fee in
the first month of service is prorated from the inception date of the account[s] to the end of the first month. 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 the Advisor and inclusion of financial planning or other consulting services. All
                                               Aspen Wealth Strategies, LLC
                                         8333 Ralston Road, Suite 2, Arvada, CO 80002
                                          Phone: (303) 421-1113 * Fax: (303) 421-2301

                                               www.aspenwealthstrategies.com

securities held in accounts managed by Aspen will be independently valued by the Custodian. The Advisor will
conduct periodic reviews of the Custodian’s valuations. The Advisor’s fee is exclusive of, and in addition to,
brokerage fees, transaction fees, and other related costs and expenses, which may be incurred by the Client.
However, the Advisor shall not receive any portion of these commissions, fees, and costs.

Aspen Model Portfolios: The Advisor also provides two specific model portfolios to Clients which deter from the
investment advisory fee schedule listed above. Clients who utilize these models will pay the Advisor a monthly
investment advisory fee in accordance with the fee schedule listed below. Furthermore, specific accounts within
these models will be listed out in Schedule A.

                                 Model Portfolio                       Annual Rate (%)
                                 Aspen Rainy Day Portfolio             0.25%
                                 Aspen Municipal Bond Portfolio        0.40%

Investment Management Services
Aspen typically offers investment management services as a component of the Aspen Private Wealth services
described above. Aspen may also offer its investment management services as a standalone service. Investment
management fees are paid monthly, in advance of each month, pursuant to the terms of the investment
management agreement. Investment management fees are based on the market value of assets under
management at the end of the prior month. Investment management fees are based on the following tiered
schedule:
                               Assets Under Management ($) Annual Rate (%)
                                         $0-$499,999                1.25%
                                     $500,000 - $999,999            0.65%
                                   $1,000,000 - $1,499,999          0.55%
                                   $1,500,000 - $1,999,999          0.45%
                                   $2,000,000 - $2,499,999          0.35%
                                   $2,500,000 - $2,999,999          0.25%
                                         $3,000,000+             Negotiable

Financial Planning Services
Aspen typically offers financial planning services as a component of the wealth management services described
above. Aspen may also offer its financial planning services as a standalone service at an hourly rate of $299, or on
an ongoing basis for $120 per month. On-going fees are paid monthly in advance of each calendar month pursuant
to the terms of the financial planning agreement. Fees may be negotiable based on the nature and complexity of
the services to be provided and the overall relationship with the Advisor. An estimate for total hours and overall
costs will be provided to the Client prior to engaging for these services.

Financial Institution Consulting Services
Aspen receives a consulting fee based on the assets under MSI’s management from Brokerage Customers who
have provided written consent to MSI to receive the consulting service from Aspen. The consulting fee is
calculated from the assets under MSI’s management as of the end of a calendar quarter period multiplied by the
annualized rate of 61 basis points. The initial fee is paid only after the completion of one full calendar quarter
period following the date of the executed agreement with MSI.

B. Fee Billing
Aspen Private Wealth Services
Wealth management fees are calculated by the Advisor or its delegate 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 beginning of the respective month. The amount due is calculated by applying the
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Item 7 – Types of Clients

Aspen offers investment advisory services to, high net worth individuals, trusts, and estates businesses. Aspen
generally does not impose a minimum relationship size.