Baldwin & Clarke Advisory Services LLC

Fees and Compensation
Description

Asset Management:
BCAS bases its management fees on a percentage of assets under management.
Clients are billed at the first day of each calendar quarter based upon the value of the
assets under management at the end of the previous quarter with the exception noted
under Structured Note Only Portfolios.
If a client's contract becomes effective subsequent to the first day of a calendar quarter
or month, or terminates before the last day of a calendar quarter or month, the fee is
determined by applying the foregoing percentage to the applicable portion of such
quarter (such total value being determined as of the last day of the calendar quarter)
and reducing the fee proportionately. BCAS may, at its discretion, combine accounts for
clients with multiple accounts for purposes of calculating the appropriate fee. Charitable
organizations may receive a discount from the normal fee schedule.
Fees are negotiable at the discretion of the President of BCAS. The minimum annual
fee is $3,000. Effective January 1, 2020 the standard fee schedule is as follows:
Value Added Cash Management Only Portfolios
(Money Market and/or Short Government Income Funds)
Bracket                 Asset Value               Annual Percentage Rate
On the First           $5,000,000                  up to 0.25%
Balance                                            up to 0.20%

Fixed Income Only Portfolios
Bracket                Asset Value                Annual Percentage Rate
On the First           $2,000,000                 0.65%
On the Next            $3,000,000                  0.50%
Balance                                           0.40%

Equity or Balanced Portfolios
Bracket                Asset Value                Annual Percentage Rate
On the First           $ 1,000,000                 1.00%
On the Next            $ 1,000,000                 0.80%
On the Next            $ 1,000,000                 0.70%
On the Next            $ 2,000,000                 0.50%
On the Next            $ 2,000,000                 0.40%
On the Next            $ 3,000,000                 0.30%
On the Next            $10,000,000                 0.20%
Balance over           $20,000,000                Negotiated Rates

Structured Note Only Portfolios                    0.30%
Agreements entered into prior to January 1, 2020 may have a different fee schedule as
depicted in their advisory agreement. Structured Note Only Portfolios do not have a
readily accessible market value as these portfolios are not marketable.

Personal and Business Planning:
The fees for personal financial and estate planning range from $300 to $25,000. The fee
charged to the client for a particular plan is negotiable within this range. The amount of
fee charged to the client within the range will depend upon the complexity of the client’s
financial situation and the specific analysis required to complete the client’s plan.

The fee for Estate Legacy Planning services ranges from $2,500 to $25,000. The fee
for Estate Legacy Planning services will depend upon the complexity of the client’s
situation and is negotiable within this range.
The fee for BCAS’s Exit Planning for Business Owners ranges from $2,000 to $35,000.
The fee for BCAS’s Exit Planning for Business Owners will depend upon the complexity
of the client’s situation and is negotiable within this range.

The fees for Business Continuity & Succession Planning range between $3,000 and
$25,000. The fees for a Calculation of Value Report will range between $2,000 and
$10,000.The amount of fee charged to the client within the ranges will depend upon the
complexity of the client’s situation and the specific analysis required to complete the
client’s plan or report.
B&C WealthDirect services:
The fees for B&C WealthDirect services range from free to $2,500 quarterly. Each
person signing up for access to the services will enter into an agreement that specifies
the fee to be charged.

Fee Billing
Investment management fees are billed quarterly, in arrears, meaning that we invoice
you after the three-month billing period has ended. Payment in full is expected upon
invoice presentation. 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.
Clients are quoted a fee range for the specific financial planning services to be
performed. A deposit equal to one half of the lower quoted fee may be payable at the
time of the fact finding meeting and the balance due upon the presentation of the final
report. Fees are refundable within thirty days after the deposit is received from the
client. Notice must be given to BCAS via certified mail, return receipt requested. A pro
rata charge for advisory services performed during the thirty day period may be charged
at the rate of $300 per hour. Such charges for services already performed may be
deducted from any refund.
WealthDirect clients are billed in advance. If the annual fee is more than $500, the fee
will be billed in advance quarterly. The first quarterly bill will be prorated based on the
number of days remaining in the calendar quarter. Clients will be entitled to a pro-rata
refund of any advanced fees paid when the service is terminated based on the number
of days remaining in that calendar quarter. Service may be terminated by BCAS if an
invoice for the service remains unpaid 15 days after its due date.
Some planning services are provided on an hourly basis. Hourly billing rates vary from
$100 to $300.
Prepaid fees, beyond the initial deposit, will only be accepted if the project is within 6
months of completion.

Other Fees and Conflicts of Interest
Custodians may charge transaction fees on purchases or sales of certain mutual funds,
structured notes and exchange-traded funds. These transaction charges are usually
small and incidental to the purchase or sale of a security. BCAS does not participate in
...

Types of Clients
Description
BCAS generally provides investment advice to individuals, high net worth individuals,
pension and profit sharing plans, charitable organizations, corporations or other
business entities.

Account Minimums
The minimum annual fee for new accounts is $500 for start up qualified retirement
plans, $2,500 for established qualified retirement plans, and $3,000 for other accounts
(the minimum fee may be waived for certain "multiple" accounts). The Investment
Advisory Fee is paid quarterly based on the market value of assets on the last day of
the quarter. Fees for assets advised for less than a full quarter are prorated. Fees may
be paid out of the investment income or principal or directly by the client. The Advisory
Client is sent a detailed calculation of the fee deduction and a transaction summary
statement reflecting the deduction from the investment account. BCAS may combine
multiple, so-called "household" accounts for purposes of applying the above fee
schedule.

Methods of Analysis, Investment Strategies and Risk of Loss