Carrera Capital Advisors LLC

Item 5: Fees and Compensation

Investment Advisory Services

Clients other than Retirement Plans

Non-529-plan accounts
Carrera's fee for our investment advisory/portfolio management services will be charged as a
percentage of assets under management with us (with the exception of fees related to fixed
annuities, as described below), according to the following schedule.
Assets Under Management                  Annual Fee Rate Range
$0 to $500,000                                     1.40%
$500,001 to $1,000,000                             0.90%
$1,000,001 to $3,000,000                           0.80%
$3,000,001 to $5,000,000                           0.70%
$5,000,001 to $10,000,000                          0.50%
$10,000,001 to $20,000,000                         0.40%
$20,000,001 to $50,000,000                         0.20%
More than $50,000,000                              Negotiable

For example, a client with $1,000,000 in assets under management would pay 1.15% ($500,000
at 1.4% and $500,000 at 0.9%).

Although Carrera has established the above fee schedule, we sometimes negotiate other fee
schedules depending on the size of the account, type of account, the level of client service
required and other factors we consider relevant.
While we do not monitor certain client-directed securities purchases, we do consider such
securities part of the client’s overall asset allocation, tax strategy, risk and financial planning goals,
and such assets are included under our investment management fee.

Investment management fees related to fixed annuities are not included in the fee schedule
above, and such assets accordingly are not included in Assets Under Management there.
Instead, these assets are charged an Advisory Fee based on their cumulative assets under
management at a fixed annual rate of 0.25% -1.4%.

529-plan accounts
529-plan (qualified tuition plan) accounts will be charged an Advisory Fee based on their
cumulative assets under management at a fixed annual rate of 0.25-1.0%. (Carrera’s discretion
in managing 529-plan accounts will be limited to selecting among investment options and
channels offered by the respective plan(s) and providing certain administrative duties regarding
the account(s), resulting in a lower fee versus accounts where Carrera exercises broader
discretion.)

Fees normally will be charged quarterly in advance based on the average daily market value of
the client's account(s), as determined by the custodian, during the last quarter; however, for new
accounts, Carrera does bill clients in arrears for a partial initial quarter, pro-rated on a daily basis,
based on the account-funding date and average daily market value.

Unless other arrangements are negotiated, fees are directly debited from a client's account(s),
and each client is required to provide the qualified custodian of the client's account(s) written

authorization to deduct the fees described. The custodian sends the client a statement, at least
quarterly, indicating the amount of our fees and all amounts disbursed from the account to Carrera
for our fees. The client is responsible for verifying the accuracy of the fee calculation, as the
custodian will not verify the calculation. Payment of fees may result in the liquidation of client's
securities if there is insufficient cash in the client's account(s).

Clients will not receive from Carrera an account statement or a fee invoice. Only the custodians'
account statement will be sent to clients; or where assets are not held by the custodian, Carrera’s
third-party service provider, Advyzon, will notify client of the fee for those assets. Asset-based
fees are always subject to the management agreement between the client and Carrera, and we
generally retain the right to amend our fee schedule with 30 days prior written notice to the client.

Plan Clients
For clients that are retirement plans, fees are negotiated on a case-by-case basis and are based
upon either (1) a fixed-fee annual rate or (2) assets under management at a rate of 0.1-0.6%.
Fees are billed on either a monthly or quarterly basis and may be in advance or arrears.

Carrera does not require a minimum account size of its clients. At our discretion, we sometimes
group certain related client accounts for the purposes of determining the annualized fee.

Cash and assets which are invested in shares of mutual funds, exchange-traded funds, annuities
we manage, individual securities, collective trusts, unit investment trusts and/or closed-end funds
shall be included in the calculation of the value of the client's assets under management with us
for purposes of computing our fee.
A client's margin balance is typically included when calculating assets under management with
Carrera. This will be in addition to any margin interest being paid by the client.
For partial quarters, fees are pro-rated on a daily basis. In the event the client terminates our
services, Carrera will refund or credit to the client’s account, as applicable, all unearned fees
within 45 days of the assets ceasing to be under Carrera’s management.
Financial Planning Services
Carrera sometimes charges a fee for financial planning services. For clients who retain Carrera
for its investment advisory services, sometimes there is a separate fee for Carrera's financial
planning services. Some clients retain Carrera for only financial planning, and for those persons
our financial planning fees are based on the nature of the services being provided, who is
providing the services and the complexity of the client's circumstances.

Financial planning fees are generally calculated and charged on a flat-fee basis typically ranging
from a minimum of $1,000 to $25,000 per engagement but may exceed this range depending
upon the complexity, with 25% due in advance, and the remaining 75% upon completion of
services. If you terminate our financial planning services after we have begun the work but before
...

Item 7: Types of Clients

Carrera offers its services to individuals, high net worth individuals, corporations and other
business entities, pension and profit-sharing plans, endowments, foundations, charitable
organizations, investment advisors, estates and trusts.