Burke & Herbert Wealth Services LLC

Item 5:      Fees and Compensation

      A. Fees Charged

      All clients will be required to execute an agreement that describes the type of services to
      be provided and the fees, among other items. We provide services to clients based on the
      following service and compensation arrangements.

      Financial planning services are provided either as a one-time or as an ongoing engagement.
      If the engagement is one-time, fees for the service are charged on an hourly basis at a rate
      of $200. On-going planning engagements will be charged an annual retainer negotiated at
      the time of the beginning of the engagement. Advanced fees are not required. The annual
      retainer is billed either monthly, quarterly or annual based on the client’s request. Fees are
      negotiable and will depend on the anticipated complexity of your plan. Fees for a single
      plan engagement will be paid when the plan is complete. If a client elects to terminate the
      Financial Planning Agreement, any earned fee will be billed to the client. We do not solicit
      prepayment of fees of more than $1,200 six months or more in advance.

      Investment Management clients are generally charged fees at a rate of 1% per annum of
      the net market value of a client's assets managed or reviewed by Piedmont Wealth
      Management. We may provide these services to clients based on a fixed retainer that is
      negotiated at the time of the account opening. The fee range stated is a guide. Fees are
      negotiable, and may be higher or lower than this range, based on the nature of the account.
      Factors affecting fee percentages include the size of the account, complexity of asset
      structures, planning services provided and other factors.

      Consulting Services

      Consulting fees can be hourly, fixed fee basis, or included with asset management services.
      Our hourly charge is $200 per hour. Fixed fees will be between $750 and $5,000. The fee
      range stated is a guide. Because of the nature of consulting as a general practice with great
      variety of assignments and issues, the fees for this service may also vary greatly.
      Accordingly, fees may be higher or lower than the stated range, based on the nature of the
      engagement. Fees are negotiable and will depend on the anticipated complexity of the
      services to be provided.

      All clients, but especially those with smaller accounts, should be advised they may receive
      similar services from other professionals for higher or lower overall costs.

B. Fee Payment

Fees for financial planning or consulting will be billed to each client. Fees for asset
management may be deducted directly from each client’s account or billed directly to the
client. The management fee is paid monthly in arrears and the value used for the fee
calculation is the net market value on the last market day of the previous month. This
means that if your annual fee is 1.00% and your account is billed on a monthly basis, then
each month we will multiply the value of your account by 1.00%, then divide by 365, then
multiple by the actual number of days in the month to calculate our fee. The value used to
calculate Piedmont Wealth Management’s fee will include any allocation to cash or cash-
like instruments, such as money market funds or bank accounts, of the client’s investable
assets. Investable cash means cash that is in a client account as an asset allocation. Cash
that is not in investable cash is cash that has been identified by the client as designated for
a specific purpose.

Once the calculation is made, we will instruct your account custodian to deduct the fee
from your account and remit it to Piedmont Wealth Management.

C. Other Fees

There are several other fees that can be associated with holding and investing in securities.
You will be responsible for fees including transaction fees for the purchase or sale of a
mutual fund, corporate and municipal bonds, Exchange Traded Funds, or commissions for
the purchase or sale of a stock. Expenses of a fund will not be included in management
fees, as they are deducted from the value of the shares by the mutual fund manager. For
complete discussion of expenses related to each mutual fund, you should read a copy of
the prospectus issued by that fund. Piedmont Wealth Management can provide or direct
you to a copy of the prospectus for any fund that we recommend to you.

Please make sure to read Item 12 of this informational brochure, where we discuss broker-
dealer and custodial issues.

D. Pro-rata Fees

Financial Planning: Clients are free to terminate financial planning services. If a client
terminates the Financial Planning Agreement, any unearned fees will be returned to the
client. Any fees earned to the date of termination will be billed directly to you.

Asset Management: If you become a client during a month, you will pay a management
fee for the number of days left in that month. You may terminate the asset management
agreement by providing written notice to Piedmont Wealth Management. If you terminate
our relationship during a month, you will be charged a management fee for the days from
the beginning of the month until your termination date. For example, if you terminate your
agreement and there are 15 days have elapsed in that month, you will receive a written bill
for those number of days.

Piedmont Wealth Management will cease to perform services, including processing trades
and distributions, upon receipt of notice of termination. Assets not transferred from

      terminated accounts within 30 (thirty) days of termination may be “de-linked”, meaning
      they will no longer be visible to Piedmont Wealth Management and will become a retail
      account with the custodian. You as the client will retain responsibility for closing the
      account with the Custodian directly once your account is delinked.
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Item 7:      Types of Clients

      Clients advised may include individuals, trusts, foundations, pensions and corporations.
      Piedmont Wealth Management requires each client seeking investment management
      services to place at least $100,000 with us. We may waive this account minimum under
      certain circumstances, in our discretion.