Benjamin F Edwards Wealth Management LLC

Item 5 Fees and Compensation

Depending upon the type of advisory service to be provided, clients generally have a choice regarding
the way fees will be charged for such services and hence how EWM is compensated for advisory
services.

Options for how the client/advisor can structure the fee to be charged are as follows:
   • Based on assets under management (“AUM”) – the client will be charged a pre‐determined
       percentage of the AUM with EWM

Benjamin F Edwards | Form ADV Part 2A Firm Brochure                                               Page | 7

    •    Hourly charges – the client will be charged an hourly fee for services
    •    Set fees – the client will be charged a stated fee on a pre‐determined frequency

When choosing a bundled fee, also known as a “wrap fee,” clients pay one fee that covers numerous
associated account fees including: custodial fees, EWM advisory fee (the portion EWM retains for our
services) and/or third-party manager fees. However, additional ancillary fees and charges will also apply
as detailed in the EWM investment advisory agreement and the Custodian will deduct these fees from
the client account as applicable. These additional fees and expenses include, but are not limited to,
internal fees charged directly by a mutual fund, exchange traded fund, closed end fund or unit
investment trust (all of which will be described in the products’ prospectus), mark ups and mark downs,
wire transfer fees, physical delivery of account documents, and more. In addition, to the extent a client
uses the assets in an account for purposes such as an asset‐based loan or margin loan, separate charges
will apply and will be disclosed in applicable loan documents. Whether a client chooses a wrap fee or an
unbundled fee structure has no bearing on how the accounts are managed.

The fee structure decision is made between the client and advisor and is based on factors such as a) the
types of securities the client will be investing in and the fees associated with those investments, b) the
volume of trading expected given the investment strategy selected and c) the client’s overall preference
on how they would like their fee to be structured. Whether a bundled fee or a wrap fee arrangement
ultimately costs more depends on the extent to which individual unbundled fees are actually incurred.
For example, the amount of transaction costs will vary depending on the level of transaction activity in
the account. In an unbundled account, there is a point at which the amount of transaction costs,
together with all other unbundled costs that are incurred, will cause the overall fee paid by the client to
be greater than a given wrap fee amount. Thus, up to that point, a client account with lower levels of
transaction activity will pay more in relative terms in a wrap account than an unbundled account;
however, beyond that point a client account with more transactions will pay more in the unbundled
arrangement.

Fees are negotiable and are customized to the specific type of services (investment management,
financial planning and/or consulting services) and the extent of such services that EWM provides to that
client. Due to this customization, there is no set fee schedule included in this disclosure document;
however, the services provided, and the fees charged are described and documented in the investment
advisory agreement with the client. The advisor is responsible for determining the fee for each client
based on the services provided. Fees will vary between advisors who affiliate with EWM based on a
variety of factors including but not limited to the cost of business, the advisor’s experience and/or level
of service, the cost of living, etc. EWM believes its fees are reasonable in relation to the services it
provides; however, it is likely that clients may find other investment advisers offering similar
services/programs that charge lower fees. An EWM supervisory principal will supervise to make sure the
fee is fair and reasonable.

Regardless of whether a client is paying fees in a bundled or unbundled arrangement, there are other
fees including but not limited to third-party fees such as reporting fees, custodial fees, brokerage and
transaction fees and third‐party money manager fees. If unbundled, these fees will be paid directly by
the client as charged by the broker-dealer Custodian and the advisory fee will not be reduced by the
amount of this cost. If bundled, these fees will be paid by EWM out of the advisory fee paid by the
client.

Benjamin F Edwards | Form ADV Part 2A Firm Brochure                                                 Page | 8

EWM imposes varying minimum account sizes depending on the manager and strategy selected in its
Discretionary Investment Management Services advisory program. Some services and fee structures
may not be suitable for accounts or portfolios of all sizes due to the impact that operating costs would
have on performance. EWM negotiates fees on a client‐by‐client basis. The fee charged will be
stipulated within each client’s investment advisory agreement and it applies to the assets covered under
the agreement.

Fee waivers or discounts may be offered to family members and friends of associated persons of EWM
which are not available to clients. Certain pre-existing clients of EWM may have grandfathered services,
minimum account requirements and fee schedules or rates which were available at the time such pre-
existing clients entered into investment advisory relationships.

Transactions for clients who participate in an EWM investment management program will be executed
by the Custodian or other broker‐dealer to whom EWM or the Custodian routes the order. Participating
in wrap fee programs or other advisory programs may cost the client more or less than if the client were
to implement his or her selected program through an unbundled fee methodology or separately from
...

Item 7 Types of Clients

The minimum account size varies depending on the manager and strategy selected. The minimum
account sizes are as follows:
    • Strategies with BFE as portfolio manager – Ranges from $5,000 to $160,000
    • Strategies with the EWM investment advisor as portfolio manager – Ranges from $25,000 for
       mutual fund or ETF only strategies to $40,000 for equity strategies
    • Strategies with a third-party asset manager as portfolio manager – Ranges from $10,000 to
       $25,000 for mutual fund or ETF only strategies. Other minimums vary by manager but are most
       commonly $100,000

Please note that with respect to “minimum account size” EWM may, under exceptional circumstances,
consider permitting accounts having asset values lower than the indicated minimum account size to
participate in the programs. Such circumstances might include whether the account is a transfer
account, alignment with investment philosophy, or possible effects of market activity.

EWM provides advice to a wide variety of clients including but not limited to:
  • Individuals
  • Pension and profit-sharing plans
  • Trusts, estates, and charitable organizations
  • Corporations and other business entities
  • Public entities and other governmental organizations
  • Educational Institutions
  • Foundations and other charitable or fraternal organizations
  • Investment Clubs