Ballast Advisors LLC

Item 5. Fees and Compensation

    Ballast Advisors offers services on a fee basis, which includes fixed fees, as well as fees based upon
    assets under management or advisement.

Investment Management and Wealth Management Fees

    Ballast Advisors offers investment management and wealth management services for an annual
    fee based on the amount of assets under the Firm’s management and the scope and complexity
    of the services involved. This management fee generally varies between 50 and 200 basis points
    (0.50% – 2.00%), and may vary depending upon certain client-specific factors such as the size and
    composition of a client’s portfolio, investment strategy, and the amount and type of services
    rendered.

    When engagements involve multiple accounts, the anticipated value of all accounts should be
    added together to determine the household level asset-based fee. Certain clients may receive a
    discount based on the limited scope of services being provided or during the initial period of
    investment. When engagements involve multiple households, the fee schedule is applied at the
    family level and a discount may be applied for each household depending on the size and
    complexity of the relationship.
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  Disclosure                                                                Ballast Advisors,

     The annual fee is prorated and charged monthly, in advance, based upon the market value of the
     assets being managed by Ballast Advisors on the last day of the previous billing period. If assets
     are deposited into or withdrawn from an account after the inception of a billing period, the fee
     payable with respect to such assets is not adjusted to reflect the interim change in portfolio value.

     Please note that Ballast Advisors considers cash to be an asset class, and include cash balances in
     our fee calculation. There are some cases, where Ballast Advisors may not bill on a client’s cash
     reserves, for example, where a client has designated significant percentage / amount of cash to be
     held aside purposefully.

     Ballast Advisors’ advisory agreement provides for termination of the investment management
     relationship between Ballast Advisors and the client upon written notice. In the event the
     advisory agreement is terminated, the fee for the final billing period is prorated through the
     effective date of the termination and the outstanding or unearned portion of the fee is charged or
     refunded to the client, as appropriate.

     Additionally, for asset management services the Firm provides with respect to certain client
     holdings (e.g., held-away assets, accommodation accounts, alternative investments, etc.), Ballast
     Advisors may negotiate a fee rate that differs from the range set forth above. All management fees
     are set forth in Advisor’s investment management agreement and are agreed upon prior to entering
     into a contract with any client.

Financial Planning and Consulting Fees

     Ballast Advisors charges a fixed fee for providing financial planning and consulting services
     under a stand-alone engagement. These fees are negotiable, but generally range from $750 to
     $25,000, depending upon the scope and complexity of the services and the professional rendering
     the financial planning and/or the consulting services. If the client engages the Firm for additional
     investment advisory services, Ballast Advisors may offset all or a portion of its fees for those
     services based upon the amount paid for the financial planning and/or consulting services. The
     fixed dollar financial planning fee will generally correspond to the fee ranges for each complexity
     as outlined in the following table:

                 Low Complexity                Medium Complexity          High Complexity

                    $750 - $3,000                $1,500 to $7,000          $6,000 to $25,000

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  Disclosure                                                               Ballast Advisors,

     Several factors are considered when determining the level of complexity, which include, but are
     not limited to, household income and net worth, debt considerations, income sources, investment
     planning involvement, financial position, tax implications and preparation services (if
     applicable), appropriate insurance coverage considerations, legacy planning, charitable
     contributions, and retirement and financial planning goals.

     The terms and conditions of the financial planning and/or consulting engagement are set forth in
     the Advisory Agreement and Ballast Advisors generally requires one-half of the fee payable upon
     execution of the Advisory Agreement. The outstanding balance is generally due upon delivery of
     the financial plan or completion of the agreed upon services. The Firm does not, however, take
     receipt of $1,200 or more in prepaid fees in excess of six months in advance of services rendered.

Retirement Plan Consulting Fees

     For retirement plan consulting services, Ballast Advisors may charge a fixed project-based fee or
     an asset-based fee collected by the third-party plan manager. Each engagement is individually
     negotiated and tailored to accommodate the needs of the individual plan sponsor, as
     memorialized in the Agreement. In those situations where Ballast Advisors has agreed to manage
     a retirement plan’s assets, the Firm charges an annual asset-based fee between 50 and 200 basis
     points (0.50% - 2.00%), depending upon, among other things, the amount of assets to be managed.

Fee Discretion

     Ballast Advisors may, in its sole discretion, negotiate to charge a lesser fee based upon certain
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Item 7. Types of Clients

    Ballast Advisors offers services to individuals, pension and profit-sharing plans, trusts, estates,
    charitable organizations, corporations, and business entities.

Minimum Account Requirements

    Ballast Advisors does not impose a stated minimum fee or minimum portfolio value for starting
    and maintaining an investment management relationship. Certain Independent Managers may,
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  Disclosure                                                               Ballast Advisors,

    however, impose more restrictive account requirements and billing practices from the Firm. In
    these instances, Ballast Advisors may alter its corresponding account requirements and/or billing
    practices to accommodate those of the Independent Managers.