Carnegie Lake Advisors LLC

Item	5:	Fees	&	Compensation

    Compensation	for	Our	Advisory	Services

    Asset	Management:

    The maximum annual fee charged for this service will not exceed 1.50%. 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 arrears based on the
    value of the account(s) on the last day of the quarter. Fees are negotiable and will be deducted from
    client account(s). 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 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
    service 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                               Carnegie Lake Advisors LLC

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 requirements for opening and maintaining accounts or otherwise engaging us:
        Our firm generally requires a minimum account balance of $250,000 for our Asset
           Management service. Generally, this minimum account balance requirement is reserved at
           the discretion of our firm.