Balanced Rock Investment Advisors LLC

Item 5 – Fees and Compensation

The following paragraphs detail the fee structure and compensation methodology for investment advisory
services. Each Client shall sign an Investment Advisory Agreement that details the responsibilities of BRIA and
the Client.

A. Fees for Advisory Services
Wealth Management Fees

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BRIA offers our Wealth Management services only to Clients with portfolios of $300,000 or more. Clients will
generally pay BRIA a Wealth Management Fee as compensation for the investment advisory services rendered
hereunder. The Wealth Management Fee is payable in arrears, based on the fair market value of portfolio assets
under management (“AUM”) and assets under advisement listed on Balanced Rock statements (non-trading
held-away accounts such as 401K, 403b, and 457 Plans) at the end of each calendar quarter, prorated for cash
inflows and outflows during the quarter. The Wealth Management Fees in the first (and last) quarter of the
Agreement shall be prorated from the inception date to the end of the quarter. There are no fees charged by
BRIA for 529 qualified tuition plans (such as prepaid tuition and education savings plans) or most donor advised
funds (“DAFs”). The Wealth Management Fee is disclosed on the Investment Advisory Agreement between the
Client and BRIA.

Under our standard Tiered fee schedule, the Wealth Management Fee will vary for different levels of your assets
under management and assets under advisement, for example, the first $2,000,000 will be billed at one rate and
any amount over that first $2,000,000 would be billed at a lower rate. Use of a Tiered fee schedule will result in a
blended asset-based fee rate.

The standard Tiered Wealth Management Fee charged to the Account(s) are as follows:

                     Account Assets                                   Annual Wealth Management Fee
                     $0 to $2,000,000                                             0.85%
                     Over $2,000,000                                              0.65%

For direct investments made through our Dial-In program, we charge an annual Wealth Management Fee of
0.85% for each investment made based on the amount of capital initially invested, which is billed quarterly in
arrears. The Wealth Management Fee on Dial-In program assets is no longer charged when the investment is
realized, repaid, written off, or upon the termination of the Investment Advisory Agreement. The DIAL-In assets
are not included in the AUM amount used for calculating regular Wealth Management Fees, so the Client will
not benefit from a lower DIAL-In fee on larger portfolio sizes.

Wealth Management Fees, including any Dial-In program fees, are paid quarterly (at a rate of ¼ of the annual
rate per quarter) in arrears pursuant to the terms of the Investment Advisory Agreement. Wealth Management
Fees in the first (and last) quarter of services are prorated for actual days under management. Clients may
request to terminate the Investment Advisory Agreement by providing written notice. The Client shall be
responsible for fees accrued up to and including the effective date of termination of the date BRIA is notified of
termination, whichever is later.

Examples of a Wealth Management AUM Fee Calculations

A client with a $500,000 portfolio will be charged one quarter of the effective annual rate of 0.85%, or 0.2125%, on
a quarterly basis in arrears. The fee in dollars each quarter on a $500,000 portfolio would be $1,062.50 (0.2125% x
$500,000 = $1,062.50).

A client with a $4,000,000 portfolio will be charged one quarter of the effective annual rate of 0.85%, or 0.2125%,
on a quarterly basis in arrears, on the first $2,000,000, and one quarter of the effective annual rate of 0.65% or
0.1625%, on a quarterly basis in arrears, on the remaining $2,000,000. The fee in dollars each quarter on
$4,000,000 portfolio would be $7,500 (0.2124% x $2,000,000 = $4,250 plus 0.1625% x $2,000,000 = $3,250; $4,250 +
$3,250 = $7,500

Example of Wealth Management DIAL-In Fee Calculations

A client with $100,000 invested in DIAL-In assets will be charged one quarter of 0.85%, which is 0.2125% of
$100,000 on a quarterly basis in arrears. The fee in dollars each quarter for $100,000 of DIAL-In assets invested
would be $212.50 (0.2125% x $100,000 = $212.50).

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A client with $4,000,000 invested in DIAL-In assets will be charged one quarter of 0.85%, which is 0.2125% of
$100,000 on a quarterly basis in arrears. The fee in dollars each quarter for $4,000,000 of DIAL-In assets invested
would be $8,500 (0.2125% x $4,000,000 = $8,500).

At our discretion, BRIA may provide wealth management services to clients with portfolios less than $300,000.
When BRIA manages less than $300,000, we may impose a minimum annual fee of $2,550, charged quarterly in
arrears, but we also may waive the minimum fee at our discretion. The advisory agreements with each client
specify whether the minimum fee applies or not.

At our discretion, BRIA may work with clients on an hourly basis who have more than $300,000, but BRIA does
not generally offer those clients with more than $300,000 of portfolio assets hourly services. Annual Wealth
Management Fees are negotiable at the sole discretion of BRIA.

The Advisor charges a minimum annual fee of $2,550 for Wealth Management. Clients will not be charged a total
management fee that exceeds the 3% industry average.

Any fee for order management systems used to provide advice on Held-Away Accounts is included in Adviser’s
annual Advisory Fee described above and will be paid by Adviser and not Client.

Lower fees for comparable services may be available from other sources. Because the Wealth Management fee
...

Item 7 – Types of Clients

BRIA provides investment advisory services to the following types of Clients:

       Individuals, Families, Personal Trusts and Estates – private investors, investing their personal assets
       Corporations and Businesses – taxable business entities, investing their assets
       Non-Profit Organizations & Foundations –non-profit organizations, investing their assets

The relative percentage each type of Client is available on BRIA’s Form ADV Part 1. These percentages will
change over time.

There is an account minimum of $300,000, which may be waived by BRIA in its discretion. BRIA generally offers
wealth management services only to clients with more than $300,000 in total portfolio assets. BRIA generally
offers hourly financial planning services only to clients who have less than $300,000 in total portfolio assets.

BRIA generally requires a minimum annual fee of $2,550 for our Wealth Management Services.