Boardwalk Financial Strategies LLC

Item 5: Fees and Compensation
A. Fee Schedule

Investment Supervisory Services Fees

                       Total Assets Under Management           Annual Fee
               First $1,000,000                                1.25%
               Next $1,000,000 ($1,000,001 - $2,000,000)       1.00%

               Next $1,000,000 ($2,000,001 - $3,000,000)       0.75%

               Next $2,000,000 ($3,000,001 - $5,000,000)       0.50%

               Assets over $5,000,000                          0.15%

When calculating fees based on the above schedule, a minimum annual fee of $17,500 applies.

Fee Schedule for Non-Profit Accounts
                      Total Assets Under Management           Annual Fee
              First $1,000,000                                0.60%

              Next $1,000,000 ($1,000,001 - $2,000,000)       0.50%

              Next $1,000,000 ($2,000,001 - $3,000,000)       0.40%

              Next $2,000,000 ($3,000,001 - $5,000,000)       0.30%

              Assets over $5,000,000                          0.10%

When calculating fees based on the above non-profit fee schedule, a minimum annual fee of
$8,500 applies.

BFS reserves the right to discount the above fee schedules and/or reduce or waive minimum
fees at its discretion depending upon specific client circumstances and complexity. The final fee
schedule is attached as Exhibit II of the Investment Advisory Contract. Fees are paid quarterly
in advance except for the initial invoice, which is calculated using the close of business value of
the portfolio on the day that portfolio implementation was completed and will apply retroactively
to the contract date and in advance to the nearest quarter end. For example, if the contract is
signed on April 10 and portfolio implementation is complete on May 15, the May 15 close of
business portfolio value will be used to calculate the initial quarterly invoice prorated for the
period April 10 – June 30. Clients may terminate their contracts with thirty days’ written notice.
Refunds are given on a prorated basis, based on the number of days remaining in a quarter at
the point of termination. Fees that are collected in advance will be refunded based on the
prorated amount of work completed up to the day of termination within the quarter terminated.
The fee refunded will be the balance of the fees collected in advance minus the daily rate* times
the number of days in the quarter up to and including the day of termination. (*The daily rate is
calculated by dividing the quarterly AUM fee by the number of days in the termination quarter.)
Clients may terminate their contracts without penalty, for full refund, within 5 business days of
signing the advisory contract.

Advisory fees are withdrawn directly from the client’s accounts with client written authorization.
In some cases, clients may elect to pay fees by check directly to BFS.

Financial Planning Fees

BFS believes that investment management should be provided in conjunction with
comprehensive financial planning. Therefore, the fee schedule in Item 5 above covers both
Investment Supervisory Services and Financial Planning as described above. While not a
normal practice, BFS reserves the right to provide Financial Planning services on an hourly or
project-based fee basis to clients that are not able to utilize Investment Supervisory Services.

Hourly Fees

Depending upon the complexity of the situation and the needs of the client, the project scope
and estimated hours for completion can vary greatly and will be documented in Exhibit I of the
Financial Planning Agreement. For example, a full financial plan encompassing all the financial
planning areas listed in Item 4B above could take 50 hours or more depending upon the client

and complexity of their financial situation.

The hourly fee for services is $500 for an advisor and $250 for a staff member. These rates have
been determined based upon a review of “market” rates for qualified financial planning services
and an analysis of the cost to BFS of providing these services. The hourly rate may be negotiable
and will be documented in Exhibit II of the Financial Planning Agreement. Hourly fees may be
paid in advance, but never more than six months in advance. Fees that are charged in advance
will be refunded based on the prorated amount of work completed at the point of termination.
Clients may terminate their contracts without penalty within five business days of signing the
advisory contract.

B. Payment of Fees

Payment of Investment Supervisory Fees

Advisory fees are withdrawn directly from the client’s accounts with client written authorization.
Fees are paid quarterly in advance. Advisory fees may also be invoiced and billed directly to the
client quarterly in advance. Clients may select the method in which they are billed.

Payment of Financial Planning Fees

Hourly Financial Planning fees are typically collected upon completion of the project, but BFS
reserves the right to request progress payments for projects with a broad scope or extended
timeline.

C. Clients Are Responsible For Third-Party Fees

Clients are responsible for the payment of all third-party fees (i.e. custodian fees, brokerage
fees, mutual fund fees, transaction fees, etc.). Clients are also responsible for fees of other
professionals retained by the client to assist with certain financial planning topics, regardless of
whether such professionals were referred by BFS. Those fees are separate and distinct from
the fees and expenses charged by BFS. Please see Item 12 of this brochure regarding
broker/custodian.

D. Prepayment of Fees

BFS collects fees in advance. Fees that are collected in advance will be refunded based on the
prorated amount of work completed at the point of termination and the total days during the
billing period. Fees will be returned within fourteen days to the client via mailed check.
...

Item 7: Types of Clients
BFS generally provides investment advice and/or management supervisory services to the
following types of clients:

   •   Individuals
   •   High-Net-Worth Individuals
   •   Charitable Organizations
   •   Pension and profit-sharing plans (other than plan participants)

Minimum Account Size

The BFS minimum account size is $2 million for retirees and $1.5 million for pre-retirees. BFS
may waive these minimums at our sole discretion. BFS reserves the right to reduce or waive
minimum fees at its discretion depending upon specific client circumstances and complexity.