BMB Advisers LLC

ITEM 5 - FEES AND COMPENSATION
Fee Schedule

Portfolio Management Program
Fees for direct management are computed as a percentage of assets under management on a sliding
scale, as described below:

Equity Accounts

 Portfolio Size                     Annual % Fee
 $1,000,000 and below               1.00% – 1.50%

Mutual Fund and ETF Accounts

 Portfolio Size                     Annual % Fee
 $1,000,000 and below               1.00%
 $1,000,000 to $5,000,000           0.75%
 $5,000,000 to $20,000,000          0.60%
 $20,000,000 to $100,000,000        0.40%
 Over $20,000,000                   0.25%

Fixed Income Accounts

 Portfolio Size                     Annual % Fee
 $20,000,000 and below              0.40% – 0.60%
 Over $20,000,000                   0.25%

BMB, at our discretion, may aggregate related client accounts for purposes of calculating the advisory
fees applicable to the client.

The fees above include the initial investment plan. Clients may alternatively negotiate a fixed annual fee
for on-going portfolio management services, which may range between $4,000 and $500,000. All fees
may be negotiable (higher or lower) based on such factors as complexity, portfolio size, or other special
circumstances. BMB may change account fees upon prior written notice to the client.

Direct management fees are payable quarterly in advance. If a client signs the advisory agreement any
day other than the first day of a calendar quarter, the first payment will be assessed pro rata and due at
the end of that quarter with the next quarter’s fees. The prorated calculation for the initial quarter will
take into consideration the number of days remaining in the quarter and the initial value of the
portfolio. Subsequent quarterly fees are payable in advance on the first day of each calendar quarter
and are calculated based on the market value of the account on the last day of the previous quarter. At

BMB Advisers, LLC Brochure                           8                               Revised March 26, 2026

our discretion, we may make adjustments for significant cash flows in the account during a quarter. The
client’s next quarterly fee would reflect any adjustment for cash flows in the prior quarter.

Clients may choose to pay fees directly by invoice, or may instruct the custodian holding the client’s
funds and securities to pay management fees from the client’s account.

Independent Advisor Program
Clients will pay investment advisory fees to both BMB and the third-party adviser; these fees are
separate and distinct. The third-party adviser’s fees are described in each firm’s disclosure brochure,
including whether the fees are negotiable. In all cases, the client will be advised of all fees to be paid to
the third-party adviser and to BMB. Clients will not pay more for the third-party adviser’s services as a
result of being referred by BMB than the third-party adviser would charge that client if the client hired
the independent adviser directly.

Other Fees and Expenses

BMB’s fees do not include custodian fees. Any brokerage commissions, stock transfer fees, and other
similar charges that are incurred in connection with transactions for a client’s account will be paid out of
the assets in the client’s account and are in addition to the fees the client pays to BMB. See Item 12 -
Brokerage Practices below for more information.

Clients may also pay separate fees to unaffiliated third parties, such as broker-dealer fees, retirement
plan administration fees, deferred sales charges on mutual funds initially deposited in the accounts and
12(b)(1) fees and other mutual fund annual expenses as described below. “No-load” mutual funds, as
used in this brochure, refer to mutual funds with no front end or deferred sales charges that clients
must pay. These no-load funds still have ongoing internal expenses in the form of administrative
expenses, distribution expenses, and investment advisory fees that will be paid to the fund’s adviser.
Clients with mutual funds in their portfolios are effectively paying both BMB and the mutual fund
manager for the management of their assets. This is why we utilize DFA funds, which generally have
lower expense ratios compared to some other mutual funds. This also applies to programs that may
maintain cash balances in money market mutual funds. In addition, some no-load mutual funds may pay
annual distribution charges, sometimes referred to as “12(b)(1)” fees after the statutory section
authorizing these payments. BMB is not currently eligible to receive 12(b)(1) fees, but they may be
payable to the broker-dealer which executes the purchase of shares in the applicable mutual fund. The
fees and expenses charged by each mutual fund are described in the fund’s prospectus. These fees will
not be deducted from the fees charged by BMB and will be borne by the client.

Termination

Either the client or BMB may terminate the investment advisory agreement upon thirty (30) days
written notice to the other party. A client may terminate the agreement by writing BMB at our office.
BMB will refund any prepaid, unearned advisory fees, pro-rated based on the effective date of
termination.

BMB Advisers, LLC Brochure                            9                                Revised March 26, 2026

ITEM 7 - TYPES OF CLIENTS
BMB primarily provides services to clients in the entertainment industry. Our typical clients are high net
worth individuals and their related trusts, estates, and retirement plan accounts.

Account Requirements

Generally, BMB requires a minimum account size of $250,000 to initiate and maintain an account under
the Portfolio Management Program. Related client accounts can be combined to meet the account size
minimum. BMB may reduce or waive the account minimum requirements at our discretion.

While BMB does not require a minimum account size under the Independent Advisor Program, each
third-party adviser may have its own account minimums. These minimums are discussed in each
adviser’s disclosure brochure.