Calabasas Advisory Group LLC

Item 5: Fees & Compensation

    Compensation for Our Advisory Services

    Comprehensive Portfolio Management:

    The maximum annual fee charged for this service will not exceed 1.25%. Fees to be assessed will be
    outlined in the advisory agreement to be signed by the client. Annualized fees are billed on a pro-rata
    basis quarterly in arrears based on the value of the account(s) on the time-weighted daily average of
    the quarter. Fees are negotiable and will be deducted from client account(s). Unless otherwise noted
    in writing, our firm bills on cash. Adjustments will be made for deposits and withdrawals during the
    quarter. In rare cases, our firm will agree to directly invoice. As part of this process, Clients
    understand the following:

         a) The client’s independent custodian sends statements at least quarterly showing the market
            values for each security included in the Assets and all account disbursements, including the
            amount of the advisory fees paid to our firm;
         b) Clients will provide authorization permitting our firm to be directly paid by these terms. Our
            firm will send an invoice directly to the custodian; and
         c) If our firm sends a copy of our invoice to the client, a legend urging the comparison of
            information provided in our statement with those from the qualified custodian will be
            included.

    Other Types of Fees & Expenses

    Clients will incur transaction charges for trades executed in their accounts. These transaction fees
    are separate from our firm’s advisory fees and will be disclosed by the chosen custodian. Fidelity
    Brokerage Services (“Fidelity”) eliminated transaction fees for U.S. listed equities and exchange
    traded funds 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 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 (i.e., fund management fees, initial or deferred sales charges,
    mutual fund sales loads, 12b-1 fees, surrender charges, variable annuity fees, IRA and qualified
    retirement plan fees, and other fund expenses). Our firm does not receive a portion of these fees.

    Termination & Refunds

    Either party may terminate the advisory agreement signed with our firm for Comprehensive
    Portfolio Management services in writing at any time. Upon notice of termination pro-rata advisory
    fees for services rendered to the point of termination will be charged. If advisory fees cannot be
    deducted, our firm will send an invoice for due advisory fees to the client.

    Commissionable Securities Sales

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

ADV Part 2A – Firm Brochure                         Page 5                                      JL Wealth Management

Item 7: Types of Clients & Account Requirements

    Our firm has the following types of clients:
       • Individuals and High Net Worth Individuals;
       • Trusts, Estates or Charitable Organizations;
       • Pension and Profit Sharing Plans;
       • Corporations, Limited Liability Companies and/or Other Business Types.

    Our firm does not impose requirements for opening and maintaining accounts or otherwise engaging
    us. However, 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 exchange traded
    funds.