Bowers Wealth Management Inc

Item 5 Fees & Compensation
A. BWM is a fee-based advisor. Fees are based on a percentage of the dollar value of the
   assets under management. BWM’s detailed fee schedule follows:

    On an annualized basis, BWM’s fees for continuous and regular investment advice and
    portfolio management services are as follows:

                1.2% for the first $100,000
                1.0% for the next $100,000
                0.8% for the next $100,000
                0.6% for the next $100,000
                0.4% for amounts above $400,000

    Fees for managed investment accounts may be negotiated at a lower rate than the published
    fee schedule above for individual accounts with assets of $5 million or more, or a group of
    related accounts totaling $5 million or more in assets under management.

B. BWM's clients typically authorize the account custodian to debit their client account for the
   amount of BWM's investment advisory fee and to directly remit that management fee to
   BWM. Clients may also choose to be billed for fees incurred, instead of deducting fees from
   their assets under management. Unless indicated otherwise in writing, BWM bills on cash
   and cash equivalents.

    BWM invoices client accounts in advance, at the beginning of each calendar quarter, based
    on the value of the assets held in the account as of the last business day of the previous
    quarter. If a client has multiple accounts under management, each account will be charged
    fees based on its asset value.

C. In addition to BWM’s investment advisory fee, clients will also incur, relative to mutual fund
   investments, normal expenses and advisory fees imposed by the mutual funds held in the
   account (expense ratios are listed in each fund’s annual report). Some mutual funds impose
   fees if they are sold prior to their short-term holding periods. Short-term trading fees are
   detailed in each mutual fund’s prospectus. Item 12 further describes the factors that BWM
   considers in selecting broker-dealers for client transactions and determining the
   reasonableness of their compensation (e.g., commissions).

    BWM’s recommended custodian, Fidelity, eliminated transaction fees for U.S. listed equities
    and ETFs for clients who opt into electronic delivery of statements or maintain at least $1
    million in assets at Fidelity. Clients who do not meet either criteria will be subject to
    transaction fees charged by Fidelity for U.S. listed equities and ETFs, but not for Fidelity
    mutual funds which do not see transaction fees regardless of the size of the account.

D. Either party may terminate the investment management agreement at any time and without
   penalty by sending a written or electronic notice to the other party. Since BWM’s fees must
   be paid in advance, BWM's investment advisory fee will be prorated through the date of
   termination, and any remaining balance paid in advance will be refunded to the client.

    The prorated refund is determined by verifying the date of termination and how many days
    are in the current billing quarter. The fraction of prepaid quarterly fees to be refunded is
    calculated with the following formula:

       Number of days left in current quarter
     ------------------------------------------------------------ X $Fees Paid = $Refund
     Total number of days in the current quarter

E. BWM and its employees don’t receive any compensation for the sale of securities or other
   investment products, including mutual funds.

Item 7 Types of Clients
BWM provides investment advice to individuals, high net worth individuals, trusts, estates,
charitable organizations and corporations. BWM does not advise pension plans, but will manage
fund selection for individuals whose 403b and 401k plan administrators use mutual fund plans
managed by Fidelity Investments that allow adding an advisor to such an account.

Jack Bowers specializes in tracking and analyzing Fidelity Investments’ mutual funds and in
building portfolio strategies made up of Fidelity mutual funds. BWM is not affiliated in any way

with Fidelity Investments, but Fidelity Brokerage Services serves as the broker-dealer for all fund
transactions and as the custodian for all securities and cash held in client accounts.

To open a BWM managed account, there is a minimum opening balance of $100,000. Under
certain circumstances at BWM’s discretion, this minimum requirement may be waived.

Clients who opt into electronic delivery of statements or maintain at least $1 million in assets at
Fidelity will not be charged transaction fees for U.S. listed equities and ETFs. Regardless of
account size, Fidelity does not charge transaction fees on Fidelity mutual funds.