Bellingrath Wealth Management LLC

Fees and Compensation

Our Wrap Fees

All investment management clients will be required to execute an Investment Advisory Agreement
that will describe the type of asset management services to be provided and the fees, among other
items. Clients are advised that they may pay fees that are higher or lower than fees they may pay
another advisor for the same services, and may in fact pay lower fees for comparable services from
other sources. Clients are under no obligation at any time to engage or to continue to engage
Bellingrath for investment services.

The client can determine to engage Bellingrath to provide discretionary investment advisory services
on a negotiable basis. Bellingrath’s annual investment advisory fee shall vary (up to 1.5% of the total
assets placed under Bellingrath’s management) and shall be based upon various objective and
subjective factors, including, but not limited to, the amount of the assets placed under Bellingrath’s
direct management, the complexity of the engagement, and the level and scope of the overall
investment advisory services to be rendered. In some instances, Bellingrath will “household” a group
of accounts for the purpose of determining an appropriate fee (for example, a family). This is not done
for every family, but only in limited circumstances where the firm believes it to be appropriate. The
values used for calculation of advisory fees are produced by the account custodian(s), and the specific
value used is the gross market value as of the last day of the previous quarter. In calculating the market
value of a client’s assets, assets allocated to cash or a cash proxy, such as a money market account,
will be included in the calculation of assets under management. Bellingrath does bill on cash and
margin.

The MWP account fee consists of an advisory fee of up to 2.35% and a manager fee of up to 0.60%
for a maximum annual fee of 2.95%. See the MWP program brochure for more information.

The OMP account fee consists of an advisory fee of up to 2.50%. See the OMP program brochure for
more information.

Account fees for LPL programs are payable quarterly in advance. LPL serves as program sponsor, co-
investment adviser and broker-dealer for the LPL advisory programs.

Bellingrath and LPL may share in the account fee and other fees associated with program accounts.
Associated persons of Bellingrath may also be registered representatives of LPL.

Bellingrath receives compensation as a result of a client’s participation in an LPL program. Depending
on, among other things, the type and size of the account, type of securities held in the account, changes
in its value over time, the ability to negotiate fees or commissions, the historical or expected size or
number of transactions, and the number and range of supplementary advisory and client-related
services provided to the client, the amount of this compensation may be more or less than what
Bellingrath would receive if the client participated in other programs, whether through LPL or another
sponsor, or paid separately for investment advice, brokerage and other services.

Clients should consider the level and complexity of the advisory services to be provided when
negotiating the account fee (or the advisor fee portion of the account fee, as applicable) with
Bellingrath. Please refer to the relevant LPL Form ADV program brochure for a more detailed
discussion of conflicts of interest.

The fee is paid quarterly in advance and comes due on the last day of the calendar quarter of the stated
billing cycle based on the balance on that day. In calculating the market value of a client’s assets,
assets allocated to cash or a cash proxy, such as a money market account, will be included in the
calculation of assets under management. The calculation of the fee is done by the custodian and once
the calculation is made, the custodian will deduct the fee from your account and remit it to Bellingrath.

For advisory accounts custodied at LPL, unless otherwise instructed by Bellingrath, LPL will deduct
Bellingrath’s fee quarterly in advance; however, for the initial fee deduction, LPL will deduct
Bellingrath’s fee at the beginning of the quarter following the establishment of the account and will
include a prorated fee for the initial quarter in addition to the quarterly Bellingrath fee for the upcoming
quarter. Subsequent fee deductions will be made at the beginning of each quarter based on the value
of the account assets as of the close of business on the last business day of the preceding quarter.
Additional deposits and withdrawals will be added or subtracted from the assets, which may lead to
an adjustment of Bellingrath’s fee. If LPL is notified by Bellingrath or the client of the termination or
deactivation of the account’s advisory account status at LPL, LPL will process a prorated refund of
Bellingrath’s fees that were prepaid based upon the number of days remaining in the quarter after the
notice of termination to LPL.

There are a number of other fees that can be associated with holding and investing in securities. The
fees not included in the advisory fee for our wrap services are 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 and other fund expenses), fees for trades executed away from the custodian, mark-
ups and mark-downs, spreads paid to market makers, wire transfer fees and other fees and taxes on
brokerage accounts and securities transactions. Expenses of a mutual fund or ETF will not be included
in management fees, as they are deducted from the value of the shares by the manager. When selecting
mutual funds that have multiple share classes for recommendation to clients, Bellingrath will take into
account the internal fees and expenses associated with each share class, and it is Bellingrath’s policy
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Item 7:       Types of Clients

      Clients advised may include individuals, families, trusts, non-profit organizations, and businesses.
      Bellingrath does not impose a stated minimum fee or minimum portfolio value for starting or
      maintaining an investment advisory relationship.