BFC Planning Inc

Item 5 – Fees and Compensation

In addition to the information provided in Item 4 – Advisory Business, this section provides additional details regarding our firm’s
services along with descriptions of each service’s fees and compensation arrangements.

Financial Planning Services
Depending upon your IAR, BFCP will generally provide one of three basic types of financial planning and consulting services as
follows:

1. Full Service Financial Planning - This service is for the creation of a holistic written financial plan, which typically addresses the
following topics: investment planning; retirement planning; insurance planning; tax planning; education planning; portfolio
reviews; asset allocation, and real estate planning. This service can be for preparation of a new financial plan or for an update of
an existing financial plan.

2. Limited Service Financial Planning: This service is limited to focusing upon one or more specific areas identified by you. It does
not involve the creation of a full financial plan. You should be aware that there are important issues that may not be taken into
consideration when your IAR develops his or her analysis and recommendations under limited service financial planning.

3. As-Needed Consulting Services: Under this service, we offer consultations in order to discuss financial planning issues when you
do not need a written financial plan. This includes “as-needed” consultations, which are limited to consultations in response to a
particular investment or financial planning issue raised or request made by you. Under an “as-needed” consultation, it will be
incumbent upon you to identify those particular issues for which you are seeking our advice or consultation on.

Our financial planning and consulting services do not include the implementation of any transactions on your behalf. You have the
sole responsibility for determining whether to implement our financial planning and consulting recommendations. To the extent
you would like to implement any of our investment recommendations through BFCP as an investment adviser to actively monitor
and manage your investments, you must execute a separate written investment advisory agreement with BFCP for our asset
management services. This asset management service charges a separate fee from your financial planning and consulting services.
Thus, your IAR has a conflict of interest when recommending asset management services.

In the alternative, you could also work with your IAR in his or her separate capacity as a registered representative of Berthel Fisher
& Company Financial Services (“BFCFS”) or Securities Management and Research (“SMR”) broker-dealer for the purpose of
implementing transactions through a non-fee, commission-based brokerage account. A conflict will exist between the interests of
BFCP, your IAR and your interests. If you choose to implement the advice of BFCP, your IAR may earn commissions in his or her
capacity as a registered representative or additional advisory fees for managed accounts in addition to the fees charged for
financial planning services.

If you choose to implement any financial planning recommendations through BFCP, your representative will recommend an
implementation strategy (e.g., fee-based advisory account or commission based brokerage account) that is in your best interest
without regard to the financial interests of BFCP, or broker-dealer, as an investment adviser or broker-dealer or your
representative as an the IAR or registered representative.

Fees for Financial Planning Services
Fees for BFCP’s financial planning services may be fixed or hourly as described below.

5                        BFC Planning - Form ADV Part 2A Disclosure Brochure dated March 27, 2026

BFCP provides financial planning services under an hourly fee arrangement. An hourly fee in the range of $150 to $400 per hour
(depending upon the IAR) is charged by BFCP for financial planning services provided under this arrangement. Under this type of
arrangement, prior to commencing financial planning services, BFCP provides an estimate of the approximate hours needed to
complete the requested financial planning services. If BFCP anticipates exceeding the estimated number of hours required, BFCP
will contact you to receive authorization to provide additional services. You will pay in advance a mutually agreed upon retainer
that will be available for BFCP to bill hourly fees against for our financial planning services; however, under no circumstances will
BFCP require you to pay fees more than $1,200 more than six months in advance. The standard billing dates and events of BFCP
are the following: (1) the first business day of each month; (2) the date when incurred hourly fees and expenses will cause the
retainer balance to be depleted to zero; (3) the date or thereafter that BFCP substantially provides the agreed upon services; and
(4) the date the engagement is terminated by either you or BFCP. Upon presentment of the invoice to you, BFCP will deduct the
hourly fees due BFCP against your current retainer balance and you are required to pay BFCP immediately any outstanding
balance of hourly fees due.

BFCP also provides financial planning services under a fixed fee arrangement. A mutually agreed upon fixed fee is charged for
financial planning services under this arrangement. There is a range in the amount of the fixed fee charged by BFCP for financial
planning services. The minimum fixed fee is generally $100, and the maximum fixed fee is generally no more than $15,000. The
amount of the fixed fee for your engagement is specified in your financial planning agreement with BFCP. You are required to pay
100% of the fixed fee in advance at the time you execute an agreement with BFCP; however, at no time will BFCP require payment
of more than $1,200 in fees more than six months in advance.

BFCP also provides ongoing financial and investment planning services for a flat annual fee.
...

Item 7 – Types of Clients

BFCP generally provides investment advice to the following types of clients:

        Individuals
        High-Net Worth Individuals
        Banks or thrift institutions
        Pension and profit-sharing plans
        Trusts, estates, or charitable organizations
        Corporations or business entities other than those listed above
        Investment Company

You are required to execute a written agreement with BFCP specifying the particular services in order to establish a client
arrangement with BFCP.

Minimum Investment Amounts Required
As a general rule, the minimum account size is twenty-five thousand dollars ($25,000). However, under certain circumstances,
BFCP may waive the minimum account size requirement and accept accounts less than the minimum requirement. Additionally,
you are required to execute a written agreement with BFCP detailing each investment advisory service you choose to utilize prior
to BFCP commencing any work for such service.

In addition to BFCP’s minimum requirements, the sponsor of the Sub-Advisory Platforms may set account minimums and
determine whether such minimums are negotiable.

The minimum investment amount is the following for these sub-advisory platforms:

         Sub-Advisory Platform Sponsor                  Minimum Amount
         Advisors Asset Management                             $250,000
         Charles Schwab                                        $100,000
         Dunham & Associates:
                  (IRA)                                           $ 50,000
                  (Other Accounts)                                $100,000
         Orion Portfolio Solutions                                $ 5,000

21                      BFC Planning - Form ADV Part 2A Disclosure Brochure dated March 27, 2026

The sponsors of Outside Money Manager programs are responsible for determining account minimums and whether such
minimums are negotiable. Please refer to the disclosure brochure of the Outside Money Manager program for more details.