Brick & Kyle Associates Inc

Item 5     Fees and Compensation

                       PORTFOLIO MANAGEMENT SERVICES FEES

Our annual fees for Portfolio Management Service typically begin at 1.00% of assets under
management. These fees are negotiable and may vary based on the complexity of the
client’s financial situation, the value of assets under management, and the scope of service
provided. In certain circumstances, Brick and Kyle may agree to a tiered or preferential fee
schedule.

Fees are billed quarterly in advance, calculated at 0.25% (one-fourth of the annual rate) of
the account’s market value, including cash and equivalents, as of the final business day of
the preceding calendar quarter. Fees will be debited directly from the account in accordance
with the client’s written authorization in the Investment Advisory Agreement.

A minimum of $250,000 in assets under management is typically required for this service.
However, Brick and Kyle may, at its sole discretion, waive this minimum or group certain
related client account for the purpose of achieving the minimum account size or determining
a more favorable annual fee tier. The specific annual fee and billing frequency for each client
are explicably identified in their individual Investment Advisory Agreement.

                               FINANCIAL PLANNING FEES

Brick and Kyle offer a Financial Planning Program, and the fee is determined based on the
nature of the services being provided and the complexity of each client’s circumstances. All
fees are agreed upon prior to entering a contract with any client and charged on an hourly
basis of $250. The length of time it will take to provide the plan depends on the client’s
personal situation; we provide an estimate at the start of the relationship.

                                        GENERAL INFORMATION

Termination of the Advisory Relationship: A client agreement may be canceled at any time,
by either party, for any reason upon receipt of written notice. As disclosed above, certain
fees are paid in advance of the services provided. Upon termination of any account, any
prepaid, unearned fees will be promptly refunded. In calculating a client’s reimbursement of
fees, we will pro rate the reimbursement according to the number of days remaining in the
billing period.

All mutual funds and Exchange Traded Funds (ETFs) have expense fees that are charged
within the fund. They generally range from .25% to .9% on ETFs, and from .65% to 1.25%
on mutual funds using Institutional or Advisor share classes. Brick & Kyle's advisory
calculation will include the value of all mutual funds and ETFs.

Item 7         Types of Clients

Brick and Kyle Associates provide advisory services to the following types of clients:

•   Individuals and high net worth individuals

•   Pensions

•   Trusts

•   Corporations

•   Profit-sharing plans

•   Estates

•   Charitable Organizations