Burr Financial Services LLC

Item 5: Fees & Compensation

Compensation for Our Advisory Services

Asset Management:

The annual fee charged for this service is generally 2.00% and will not exceed that. Family and friends
may be offered a discounted rate. Our firm reserves the right to charge Clients at our discretion. Fees
to be assessed will be outlined in the advisory agreement to be signed by the Client. Our firm bills on
cash unless indicated otherwise in writing. Annualized fees are billed on a pro-rata basis quarterly in
advance based on the value of the account(s) on the time-weighted daily average of the previous
quarter. Fees are negotiable and will be deducted from client account(s). Our firm does not offer
direct invoicing. As part of this process, Clients understand the following:

    a) Clients must provide our firm with written authorization permitting direct payment of
       advisory fees from their account(s) maintained by a custodian who is independent of our
       firm;

ADV Part 2A – Firm Brochure                    Page 5                             Burr Financial Services, LLC

    b) Our firm sends quarterly statements to the client showing the fee amount, the value of the
       assets upon which the fee is based, and the specific manner in which the fee is calculated as
       well as disclosing that it is the client’s responsibility to verify the accuracy of fee calculation,
       and that the custodian does not determine its accuracy; and
    c) Our firm sends the qualified custodian an invoice or statement of the amount of the fee to be
       deducted from the client’s account. The qualified custodian then sends a statement to the
       client, at least quarterly, showing all account disbursements, including advisory fees.

Fee Discretion

Burr Financial may, in its sole discretion, negotiate to charge a lesser fee based upon certain criteria,
such as anticipated future earning capacity, anticipated future additional assets, dollar amount of
assets to be managed, related accounts, account composition, pre-existing/legacy client relationship,
account retention and pro bono activities.

Other Types of Fees & Expenses

Clients will incur transaction fees for trades executed by their chosen custodian, either based on a
percentage of the dollar amount of assets in the account(s) or via individual transaction charges.
These transaction fees are separate from our firm’s advisory fees and will be disclosed by the chosen
custodian. Charles Schwab & Co., Inc. (“Schwab”) does not charge transaction fees for U.S. listed
equities and exchange traded funds.

Clients may also pay holdings charges imposed by the chosen custodian for certain investments,
charges imposed directly by a mutual fund, index fund, or exchange traded fund, which shall be
disclosed in the fund’s prospectus (e.g., fund management fees and other fund expenses), distribution
fees, surrender charges, variable annuity fees, IRA and qualified retirement plan fees, mark-ups and
mark-downs, spreads paid to market makers, fees for trades executed away from custodian, wire
transfer fees and other fees and taxes on brokerage accounts and securities transactions. Our firm
does not receive a portion of these fees.

Termination & Refunds

Either party may terminate the advisory agreement signed with our firm for Asset Management
services in writing at any time. Upon notice of termination our firm will process a pro-rata refund of
the unearned portion of the advisory fees charged in advance.

Commissionable Securities Sales

Our firm and representatives do not sell securities for a commission in advisory accounts.

Item 7: Types of Clients & Account Requirements

Our firm has the following types of clients:
   • Individuals
   • High Net Worth Individuals;
   • Trusts
   • Estates

Our firm does not impose requirements for opening and maintaining accounts or otherwise engaging
us.