BGV Financial Advisors USA LLC

Item 5 – Fees and Compensation
Basic fee schedule:

The specific manner in which fees are charged by Adviser is established in each client’s written agreement
with Adviser. Generally and pursuant to contract, fees for the management of Accounts will be based upon
a percentage of the total assets in the account (including margined assets). Adviser typically receives an
annual management fee for all advisory services, between 0.40% and 2% of the net asset value of the
Account, whether they are managed on a discretionary or non-discretionary basis. All fees are negotiable.
For accounts that maintain a sub-advisory arrangement, the client will not incur a separate fee from the
third party serving as sub-advisor. The Adviser will forward a percentage of the advisory fee received as
stated in the Investment Advisory Agreement to the sub-adviser, as applicable, and agreed upon with the
client. Specific fee exclusions and arragements with the affiliated sub-advisor will be outlined in their

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agreement with BGV, however, the client will not be charged a separate fee if their account maintains a
sub-advisory agreement.

Calculation and Deduction of Advisory Fees

With respect to accounts that Adviser manages on a discretionary or non-discretionary basis, clients are
generally required to pre-authorize the Adviser and/or their custodian to directly debit management fees
from client accounts on a quarterly basis, in arrears. Should the calculation or payment structure related
to advisory fees differ from the process outlined herein, respective fee arrangements will be outlined in
the Investment Advisory Agreement between the Adviser and each client.

A client may pay more or less fees than similar clients depending on the particular circumstances of the
client, size, additional or differing levels of servicing or as otherwise agreed with specific clients. Clients
that negotiate fees, including a flat fee, may end up paying a higher fee than that set forth above as a result
of fluctuations in the client’s assets under management and account performance.

Clients may terminate their contracts without penalty, for full refund, within 30 business days of signing
the advisory contract. Advisory fees are withdrawn directly from the client’s accounts with client written
authorization.

Compensation for the Sale of Securities

Some of Adviser’s supervised or associated persons accept compensation for the sale of securities or other
investment products, including asset-based sales charges or service fees from the sale of mutual funds, in
their individual capacities as registered representatives of Adviser’s affiliated broker-dealer BGV
Securities USA, LLC (“BGV Securities”). Supervised or associated persons of Adviser not registered or
associated with BGV Securities do not receive such compensation in connection with accounts managed
or advised by Adviser.

Rebates and/or Trailer Fees
It is the general practice of the Adviser to invest appliable clients in institutional share class mutual funds
or the lowest cost share class available for such mutual funds. Where a selected share class generates 12b-
1 fees or other retrocessions, the Adviser will credit back such fees to the client’s account so that such
investment selection does not result in additional cost to client. For a description of all available share
classes for a given mutual fund and associated fees and expenses, please refer to the fund’s prospectus or
offering memorandum.

Neither BGV’s IARs, nor any individual dually associated as registered representative with the affiliate
broker-dealer BGV Securities shall receive additional compensation related to advisory assets in the form
of referrals fees and rebates/trailer (commonly referred to as 12b-1 fees), from mutual funds companies
in which the IARs invest your money.

Please note that althought the funds where BGV invests are institutional class funds, there can be other
funds where trailer fees are received by BGV Securities and shared in varying portions with registered
representatives of BGV Securities, which can also be dually associated with the Adviser. The receipt of
trailer fees creates a conflict of interest and material incentive for your IAR to recommend purchases of

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mutual funds with rebate arrangements with the Adviser and/or its affiliates. It should be noted certain
mutual funds that do not pay rebates or trailers often maintain a higher return than mutual funds that do
pay rebates or trailers since mutual funds that do not pay rebates or trailers have reduced additional cost
of paying the rebates or trailers. This lower cost can equate or lead to higher overall returns for such
mutual funds although returns and performance cannot be guaranteed.

The appropriateness of a particular mutual fund share class selection for an investor depends upon a range
of different considerations, including, but not limited to: the asset-based advisory fee that is charged;
whether transaction charges are applied to the purchase or sale of shares of available classes; the overall
cost structure of the advisory program; operational considerations associated with accessing or offering
particular share classes (including the presence of selling agreements with the mutual fund sponsors and
the Adviser’s ability to access particular share classes through the custodian); share class eligibility
requirements; and the availability of revenue sharing distribution fees, shareholder servicing fees or other
compensation associated with offering particular share classes.

Additional Fee Information

Clients may authorize the Adviser to directly debit management fees from client accounts on a quarterly
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Item 7 - Types of Clients

BGV provides asset and/or portfolio management services to individuals, institutions and corporations.
The minimum dollar value for establishing an Account is generally $100,000. Initial investments of a
lesser amount may be accepted at Adviser’s discretion.