Bay Cliadakis & Associates LLC

Item	5:	Fees	&	Compensation

Compensation	for	Our	Advisory	Services

Asset	Management:

Management	Fee

                                Assets	Under	Management	                     Annual	%
                                First	       $2,000,000	                        1.0
                                Next	        $1,000,000	                       0.85
                                Next         $1,000,000	                       0.75
                                Next         $1,000,000	                       0.65
                                Over	        $5,000,000	                       0.50

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	 quarterly	 in	 arrears	 based	 on	 the	 average	 balance	 and	 time-
weighted	 flows	 of	 the	 quarter.	 Fees	 will	 be	 deducted	 from	 client	 account(s).	 Adjustments	 will	 be
made	for	deposits	and	withdrawals	during	the	quarter.	Our	firm	does	not	offer	direct	invoicing.	As
part	of	this	process,	Clients	understand	the	following:

    a) The	client’s	independent	custodian	sends	statements	at	least	quarterly	showing	the	market
         values	for	each	security	included	in	the	Assets	and	all	account	disbursements,	including	the
         amount	of	the	advisory	fees	paid	to	our	firm;
    b) Clients	will	provide	authorization	permitting	our	firm	to	be	directly	paid	by	these	terms.	Our
         firm	will	send	an	invoice	directly	to	the	custodian;	and
    c) If	 our	 firm	 sends	 a	 copy	 of	 our	 invoice	 to	 the	 client,	 a	 legend	 urging	 the	 comparison	 of
         information	 provided	 in	 our	 statement	 with	 those	 from	 the	 qualified	 custodian	 will	 be
         included.

Financial	Planning	&	Consulting:

Our	firm	charges	on	a	flat	fee	basis	for	financial	planning	and	consulting	services.	The	total	estimated
fee,	as	well	as	the	ultimate	fee	charged,	is	based	on	the	scope	and	complexity	of	our	engagement	with
the	client.	Flat	fees	range	from	$3,000	to	$10,000	per	engagement.	Our	firm	requires	a	retainer	that
is	 a	 percentage	 of	 the	 ultimate	 financial	 planning	 or	 consulting	 fee	 at	 the	 time	 of	 signing.	 The
remainder	of	the	fee	will	be	due	upon	the	financial	plan	being	delivered	or	consultation	rendered.
Our	firm	will	not	require	a	retainer	exceeding	$1,000	when	services	cannot	be	rendered	within	6
months.

Our	firm	may	waive	a	portion	of	the	Financial	Planning	and	Consulting	fee	for	clients	engaged	in	a
Financial	 Planning	 &	 Consulting	 Agreement	 with	 us	 that	 subsequently	 enter	 into	 an	 Asset
Management	agreement	with	us	with	at	least	$500,000	in	assets	under	management.

ADV	Part	2A	–	Firm	Brochure	                       Page	6	                                   Altum	Wealth	Advisors

Retirement	Plan	Consulting:

Our	Retirement	Plan	Consulting	services	are	billed	a	fee	based	on	the	percentage	of	Plan	assets	under
management.	The	total	estimated	fee,	as	well	as	the	ultimate	fee	charged,	is	based	on	the	scope	and
complexity	 of	 our	 engagement	 with	 the	 client.	 Fees	 will	 not	 exceed	 1.00%.	 The	 fee-paying
arrangements	will	be	determined	on	a	case-by-case	basis	and	will	be	detailed	in	the	signed	consulting
agreement.

Other	Types	of	Fees	&	Expenses

Clients	will	incur	transaction	fees	for	trades	executed	by	their	chosen	custodian	based	on	individual
transaction	charges.	These	transaction	fees	are	separate	from	our	firm’s	advisory	fees	and	will	be
disclosed	 by	 the	 chosen	 custodian.	 Clients	 may	 also	 pay	 holdings	 charges	 imposed	 by	 the	 chosen
custodian	 for	 certain	 investments,	 charges	 imposed	 directly	 by	 a	 mutual	 fund,	 index	 fund,	 or
exchange	traded	fund,	which	shall	be	disclosed	in	the	fund’s	prospectus	(i.e.,	fund	management	fees,
initial	 or	 deferred	 sales	 charges,	 mutual	 fund	 sales	 loads,	 12b-1	 fees,	 surrender	 charges,	 variable
annuity	fees,	IRA	and	qualified	retirement	plan	fees,	and	other	fund	expenses),	mark-ups	and	mark-
downs,	spreads	paid	to	market	makers,	fees	for	trades	executed	away	from	custodian,	wire	transfer
fees	and	other	fees	and	taxes	on	brokerage	accounts	and	securities	transactions.	Our	firm	does	not
receive	a	portion	of	these	fees.

Termination	&	Refunds

Either	 party	 may	 terminate	 the	 advisory	 agreement	 signed	 with	 our	 firm	 for	 Asset	 Management
services	 in	 writing	 at	 any	 time.	 Upon	 notice	 of	 termination,	 pro-rata	 advisory	 fees	 for	 services
rendered	to	the	point	of	termination	will	be	charged.	If	advisory	fees	cannot	be	deducted,	our	firm
will	send	an	invoice	for	due	advisory	fees	to	the	client.

Financial	 Planning	 &	 Consulting	 clients	 may	 terminate	 their	 agreement	 at	 any	 time	 before	 the
delivery	 of	 a	 financial	 plan	 by	 providing	 written	 notice.	 Clients	 will	 receive	 a	 pro-rata	 refund	 of
unearned	fees	based	on	the	time	and	effort	expended	by	our	firm.

Either	 party	 to	 a	 Retirement	 Plan	 Consulting	 Agreement	 may	 terminate	 at	 any	 time	 by	 providing
written	notice	to	the	other	party.	Full	refunds	will	only	be	made	in	cases	where	cancellation	occurs
within	 5	 business	 days	 of	 signing	 an	 agreement.	 After	 5	 business	 days	 from	 initial	 signing,	 either
party	must	provide	the	other	party	30	days	written	notice	to	terminate	billing.	Billing	will	terminate
30	days	after	receipt	of	termination	notice.	Clients	will	be	charged	on	a	pro-rata	basis,	which	takes
into	account	work	completed	by	our	firm	on	behalf	of	the	client.	Clients	will	incur	charges	for	bona
fide	advisory	services	rendered	up	to	the	point	of	termination	(determined	as	30	days	from	receipt
of	said	written	notice)	and	such	fees	will	be	due	and	payable.

Commissionable	Securities	Sales

Representatives	of	our	firm	are	registered	representatives	of	Purshe	Kaplan	Sterling	Investments,
Inc.	 (“PKS”),	 member	 FINRA/SIPC.	 As	 such	 they	 are	 able	 to	 accept	 compensation	 for	 the	 sale	 of
...

Item	7:	Types	of	Clients	&	Account	Requirements

Our	firm	has	the	following	types	of	clients:
    • Individuals	and	High	Net	Worth	Individuals;
    • Trusts,	Estates	or	Charitable	Organizations;
    • Pension	and	Profit	Sharing	Plans;
    • Corporations,	Limited	Liability	Companies	and/or	Other	Business	Types

Our	requirements	for	opening	and	maintaining	accounts	or	otherwise	engaging	us:
    • Our	firm	requires	a	minimum	account	balance	of	$500,000	for	our	Asset	Management	service.
        Generally,	 this	 minimum	 account	 balance	 requirement	 is	 not	 negotiable	 and	 would	 be
        required	throughout	the	course	of	the	client’s	relationship	with	our	firm.

Our	firm	may	waive	a	portion	of	the	Financial	Planning	and	Consulting	fee	for	clients	engaged	in	a
Financial	 Planning	 &	 Consulting	 Agreement	 with	 us	 that	 subsequently	 enter	 into	 an	 Asset
Management	agreement	with	us	with	at	least	$500,000	in	assets	under	management.