Association Financial Services Inc

Item 5: Fees and Compensation
 Method of Compensation and Fee Schedule
 For most clients, the Firm’s compensation derives from investment advisory fees on assets
 that are managed by the firm on behalf of the client. Clients pay the Firm a management fee
 (investment advisory fee) calculated as a percentage of the market value of an account. The
 Firm’s compensation does not include various fees charged to clients by the client’s custodian
 which is either SEI Private Trust Company, hereafter “SEI,” or Schwab. We are a fee-only
 planning and advisory firm. The firm seeks to provide complete transparency with regard to
 fees and expenses. Clients receive a confirmation of each transaction clearly disclosing any
 fees, and regular statements detailing all activity and charges which includes the specific
 accounting for the investment advisory fee.
 ASSET MANAGEMENT
               Fee S c h ed u l e

              M AN AGE D AS S E T M IN IM UM $50 0 K
              $0 - $1,000,000 ......................................................................................................... 0 . 8 8 %
              $1,000,000 - $2,000,000......................................................................................... 0 . 8 2 %
              $2,000,000 - $4,000,000......................................................................................... 0 . 7 4 %
              $4,000,000 - $6,000,000.........................................................................................0 . 6 8 %
              $6,000,000 - $10,000,000...................................................................................... 0 . 6 2 %
              $10,000,000 + ............................................................................................. C O N C I E R G E

              Com p reh en s iv e Fin a n c ia l
              P l a n n in g S ervic es In c l u d ed

                 R E T I R E M E N T A N A L Y S IS
                 FIN AN CIAL R E VIE W
                 IN VE S TM E N T AN ALY S IS
                 TAX E VALUATION
                 S O C I A L S E C U R I T Y A N A L Y S IS
                 E S TATE E VAL UATION

Fees to be assessed will be outlined in the advisory agreement to be signed by the client.
Annualized fees are billed on a pro-rata basis monthly in arrears based on the value of the
account(s) on the last day of the month. Fees are negotiable and will be deducted from client
account(s). The above fee schedule represents the highest fee charged by the Firm at each
asset level. For various reasons, the Firm offers clients a discounted fee schedule at its
discretion. Each client is charged in accordance with the fee schedule specified in their
investment management agreements. Adjustments will be made for deposits and
withdrawals during the month. In rare cases, our firm will agree to directly invoice.

                                                  Association Financial Services, Inc.

Please see our Wrap Fee Program Brochure for further information regarding fees and
compensation for wrap asset management services.
ERISA PLAN SERVICES
The annual fees are based on the market value of the plan assets and will not exceed 1% of
the value. The fee is charged in arrears. For services started any time other than the first
day of a quarter, the fee will be prorated based on the number of days remaining in the
initial fee period. Thereafter, the fee will be based on the market value of the Plan assets on
the last business day of the previous fee period (without adjustments for anticipated
withdrawals by Plan participants or other anticipated or scheduled transfers or distribution
of assets) and will be due within ten (10) business day. In some instances, we may negotiate
an annual flat fee ranging up to $150,000 payable in quarterly installments. If this Agreement
is terminated prior to the end of the fee period, the Firm shall be entitled to a prorated fee
based on the number of days during the fee period services were provided. Any unearned
fees shall be refunded to the Plan or Plan Sponsor.
The compensation of the Firm for the services is described in detail in Schedule A of the ERISA
Plan Agreement. The Plan is obligated to pay the fees, however the Plan Sponsor may elect
to pay the fees. The Firm does not reasonably expect to receive any additional compensation,
directly or indirectly, for its services under this Agreement.
INSTITUTIONAL CONSULTING
The Firm may be compensated for providing advice and consulting services to institutional
clients. These fees are determined on a case-by-case basis and will be disclosed in writing
in the agreement signed by both parties.
FINANCIAL PLANNING FEES
The Firm may also be compensated for planning services by the client on a pre-determined
fixed fee basis. The Firm does complete financial plans as part of the investment advisory fee,
and the Firm does have the flexibility to offer financial plans for a set fee and perform
financial consulting work on an hourly basis (maximum hourly rate is $800). The
charge for a financial plan typically ranges from $1,000-$5,000, but may be more or
less, depending on the nature and complexity of each client’s circumstances.
Client Payment of Fees
Investment management fees are billed monthly, in arrears, meaning that we debit you
after the monthly billing period has ended. Fees are usually deducted from a designated client
account to facilitate billing. The client must consent in advance to direct debiting of their
investment account.
Financial Planning fee will be negotiated in advance and will be set-out in each client’s
advisory contract. Final payment will be due in ninety (90) days.
Additional Client Fees Charged
Custodians charge transaction fees on purchases or sales of certain mutual funds, equities, and
exchange-traded funds. These charges include Mutual Fund transactions fees, postage and
...

Item 7: Types of Clients
 Description
 We serve private clients, corporate and business pension or profit-sharing plans, and
 government agencies. The Firm’s private clientele consists primarily of individual and high
 net worth individuals who have accumulated significant wealth, are about to retire or are
 already retired. These clients are typically physicians and surgeons, business owners, or
 key employees.
 Account Minimums
 The Firm generally requires a minimum of $500,000 to begin an advisory relationship. It
 believes that this is the minimum amount required to best execute its investment strategies
 for an individual portfolio. However, smaller accounts may be accepted at the discretion of
 management.