Carson Advisory Inc

5 Fees and Compensation for some of these costs.

Carson Advisory Group is obligated to seek best execution for trades; however, in seeking
best execution, the determinative factor is not the lowest possible cost, but whether the
transaction represents the best qualitative execution, taking into account the full range of
services. While Carson Advisory Group continuously reviews the accuracy, timeliness and
execution of trades processed through RJFS, we cannot guarantee that a client will receive the
most favorable execution of their trades, which in turn may cost clients more money. Carson
Advisory Group selected Raymond James for client account custody and trade processing due
to accessibility, electronic trading, efficient and professional service, technical support, and
timely reporting to clients. In addition, client funds are covered through the excess SIPC
coverage maintained by Raymond James. Raymond James prohibits Carson Advisory Group
from utilizing any other broker-dealer for client custody or securities trading.

Our IARs and related persons may receive research information through its broker-dealer
affiliation on securities, market, and economic conditions. Raymond James does not impose
surcharges on clients for research. However, Raymond James does seek to do investment
banking and other business with some companies covered by its research. Raymond James
complies with all securities laws and regulations to manage these potential conflicts of interest.
Additionally, Raymond James does not require that IARs or related persons recommend any
securities to clients.

It is Carson Advisory Group’s policy that the firm will not effect any principal or agency cross
securities transactions for client accounts. Carson Advisory Group will also not cross trades
between client accounts. Principal transactions are generally defined as transactions where an
adviser, acting as principal for its own account or the account of an affiliated broker-dealer,
buys securities from or sells securities to an advisory client. A principal transaction may also
be deemed to have occurred if a security is crossed between an affiliated hedge fund and
another client account. An agency cross transaction is defined as a transaction where a person
acts as an investment adviser in relation to a transaction in which the investment adviser, or
any person controlled by or under common control with the investment adviser, acts as broker
for both the advisory client and for another person on the other side of the transaction. Agency
cross transactions may arise where an adviser is dually registered as a broker-dealer or has
an affiliated broker-dealer.

                                      Soft Dollars
Carson Advisory Group has no formal soft dollar arrangements.

                                 Order Aggregation
In discretionary accounts, when the IAR has determined that the purchase or sale of a
particular equity or ETF is appropriate for more than one client, the IAR may combine, or
“aggregate,” purchase and sale orders for those clients into one “block” order for execution
purposes. When orders are aggregated, each participating client receives the average price of

                                   Carson Advisory Group

all transactions executed to fill the order. As a result, the average price received by the client
may be higher or lower than the price that an individual client may have received had the
transaction been executed separately. Carson Advisory Group will not receive any additional
compensation or remuneration whether or not client orders are aggregated.

ITEM 7- TYPES OF CLIENTS
                                         Description
Carson Advisory Group generally provides investment advice to individuals, pension and profit-
sharing plans, trusts, estates, charitable organizations, foundations, and corporations or small
business entities.

Client relationships vary in scope and length of service.

                                    Account Minimums
We generally require a minimum account size of $25,000 for the Ambassador wrap-fee
program. However, each IAR has the discretion to require a minimum account size less than
$25,000.