Blum Financial LP

Item 5. Fees and Compensation

We are required to describe our brokerage, custody, fees and fund expenses so you will know how much you are charged
and by whom for our advisory services. Our fees are generally not negotiable.

A. Description of how we are compensated for advisory services.

          (i)      Non-Discretionary Asset Management:

As of the date of this Brochure, our fees for Non-Discretionary Asset Management are as follows.
          Portfolio Size                                                      Annualized Fee
          $0 - $50,000                                                        2.00%
          $50,001 - $100,000                                                  1.85%
          $100,001 - $250,000                                                 1.70%
          $250,001 - $500,000                                                 1.60%
          $500,001 - $750,000                                                 1.50%
          $750,001 - $1,000,000                                               1.35%
          $1,000,001 - $2,000,000                                             1.20%

1Please note that our method for computing the amount of “client assets we manage” can be different from the method for computing
“assets under management” required for Item 5.F in Part 1A of Form ADV. If we decide to use a different method at a later date to
compute “client assets we manage,” we must keep documentation describing the method we use and inform you of the change. The
amount of assets we manage may be disclosed by rounding to the nearest $100,000. 00. Our “as of” date must not be more than
three months before the date we last updated our Brochure in response to Item 4.E of Form ADV Part 2A.

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         $2,000,001 - $3,500,000                                               1.10%
         $3,500,001 - $5,000,000                                               1.05%
         $5,000,001 and up                                                     1.00%

         (ii)      Discretionary Managed Account Program

Our firm’s discretionary Managed Account Program (MAP) is detailed in Item 4 of Appendix I to our Firm Brochure.
The following are the fees we charge for this program:

         Portfolio Size                                                        Annualized Fee
         $0 - $50,000                                                          2.00%
         $50,001 - $100,000                                                    1.85%
         $100,001 - $250,000                                                   1.70%
         $250,001 - $500,000                                                   1.60%
         $500,001 - $750,000                                                   1.50%
         $750,001 - $1,000,000                                                 1.35%
         $1,000,001 - $2,000,000                                               1.20%
         $2,000,001 - $3,500,000                                               1.10%
         $3,500,001 - $5,000,000                                               1.05%
         $5,000,001 and up                                                     1.00%

         (iii)     Managed Account Program Tiered Fee2 Schedule implemented in 2016 for some clients:

         Portfolio Size                                                        Annualized Fee
         First $750,000 ($0-$750,000)                                          1.50%
         Next $1,250,000 ($750,000-$2,000,000)                                 1.00%
         Next $ 1,500,000 ($2,000,000 - $3,500,000)                            0.98%
         $3,500,000 and up                                                     0.95%

         (iv)      Pension Consulting:

We charge an annual flat fee for pension consulting services. The initial yearly fee is established at the beginning of our
client relationship. The total estimated yearly fee, as well as the ultimate fee that we charge you, is based on the scope
and complexity of our engagement with you. Our yearly fees range from $750.00 to $10,000.00. Planning fees may be
negotiable based upon the specific services requested, including the complexity and scope of the consultation. Where the
scope or complexity of services varies from the initial agreed upon services and fees, we will consult with a client before
charging additional fees.

         (iv)      Financial Planning and Consulting:

We charge an annual flat fee for financial planning and consulting services. The total estimated fee, as well as the
ultimate fee that we charge you, is based on the scope and complexity of your engagement. Our annual planning fees
range from $1,500 to as high as $150,000. Planning fees may be negotiable based upon the specific services requested,
including the complexity and scope of the plan, as well as your financial situation and objectives.

Planning fees are usually payable in advance unless the planning engagement is complex. We establish the agreed upon
fee at the beginning of our planning and consulting services. Applicable fees, fee payment arrangements, and the terms
of the engagement will be clearly set forth in the client agreement executed between our firm and each client prior to
providing financial services. The retainer fee will be fixed for a 12-month period; thereafter, the retainer fee may be
adjusted based on the scope and complexity of the engagement. However, if additional services are required that will
exceed the estimated fee, we notify the client as soon as possible to discuss additional fees associated with our services.

 Tiered fees are fees which 1) decline incrementally as assets increase above pre-determined breakpoints and 2) are applied on a
marginal basis to assets within those tiers.

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Item 7. Types of Clients and Account Requirements

We have 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 other types of enterprises

Our requirements for opening and maintaining accounts or otherwise engaging us:

         We require a minimum initial investment of $100,000.00. However, our firm may allow accounts of members
of the same household to be aggregated for purposes of determining the advisory fee and/or for meeting the minimum
investment. Generally, this minimum account balance requirement is not negotiable and would be required throughout
the course of the client’s relationship with our firm. We may open accounts for less than the minimum investment under
particular circumstances (for example, setting up a new 401k or new Simple plan).

        Our firm’s minimum fee for written financial plans is $1500.00, which minimum may be waived in certain
circumstances.

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