Checchi Capital Advisers LLC

Item 5: Fees and Compensation

Compensation
Separately Managed Accounts
The annual compensation for CCA’s separately managed accounts is generally as
follows:
                            AUM                     Advisory Fee
                      $0 - $50,000,000                  0.90%
                        $50,000,000+                    0.70%

This is a blended fee schedule, meaning different asset levels are assessed different
fees, as shown above. Fees will be payable to CCA quarterly in arrears. Fees will be
calculated based on the average daily market value of assets under management

during the billing period.
Sub-Advisory Services
Fees will be charged on the total assets under management that the third party
investment advisor brings to CCA. CCA is compensated directly by the third party
investment advisor with a portion of their investment management fee, as per the duly
executed Sub-Advisory services agreement. Third party investment advisors who
engage CCA as a Sub-Advisor shall be responsible for billing their Clients and collecting
all fees.
Pooled Investment Vehicles
Annual investment sub-advisory management fees for each insurance fund are charged
as a tiered percent per annum of the net asset value of the insurance fund on the first
business day of each calendar month based on the total assets managed (please see the
Sub-Advisory Agreement for specific per annum fees by asset level).
Calculation and Payment
Unless CCA and the client agree that particular assets are specifically excluded from
the client’s account, compensation will be calculated in arrears on the total market value
of all mutual funds, stocks, bonds, cash, and money market positions held in the client’s
investment account at the end of each calendar quarter.

Clients may elect to be invoiced directly for fees or to authorize CCA to directly debit
fees from client accounts.

Advisory fees for the insurance funds are paid monthly in arrears. CCA has
contractually agreed to reduce its fees and to reimburse expenses to ensure that the
total annual operating expenses (excluding standard trading expenses as described in
the Series Supplement) for the insurance fund do not exceed 0.90% of the net asset
value of the insurance fund on the first business day of each calendar month.

Notwithstanding anything to the contrary, CCA’s reserves the right to negotiate its
compensation based on various criteria, including, but not limited to, the size of the
aggregate party portfolio size and pre-existing relationships with clients. Certain clients
may pay more or less than others depending on the amount of assets, type of portfolio,
or the time involved, the degree of responsibility assumed, the complexity of the
engagement, special skills needed to solve problems, the application of experience and
knowledge of the client’s situation.

Other Fees
Separately Managed Accounts
In addition to CCA advisory compensation, clients may incur certain charges imposed by
third parties which include the following: brokerage commissions; custodial fees; IRA and
qualified retirement fees; cryptocurrency platform and transactions fees (for clients
investing in cryptocurrencies), mutual fund fees, including advisory fees and
administrative expenses, 12B-1 and sub transfer fees; and other charges required by law.

Advisory compensation earned by CCA is separate and distinct from advisory fees and
expenses charged by mutual funds in which client assets may be invested. A complete
description of these fees and expenses may be found in each mutual fund prospectus.
The client should review all fees charged by mutual funds, CCA and others to fully
understand the total amount of fees to be paid by the client.

Pooled Investment Vehicles
Funds are subject to a number of expenses which are ultimately borne by shareholders,
including, but not limited to, accounting, shareholder servicing, legal, audit, tax,
administrative servicing and other expenses.

Additionally, CCA utilizes certain exchange traded funds and other investment vehicles
(“acquired funds) in circumstances in which direct investments in certain
securities/markets may be impractical due to high trading costs, minimum required
investment allocations, and/or other factors. Fees and expenses charged by acquired
funds are separate and distinct from advisory fees and other expenses charged to the
funds to which CCA serves as an adviser or sub-adviser. Consequently, to the extent
that any fund managed by CCA in acquired funds, shareholders shall be assessed fund
level fees and expenses both by the funds managed by CCA and the acquired funds.

Termination of Agreement
Clients may terminate their engagement with CCA within five (5) business days of
signing an Agreement with no obligation and without penalty. After the initial five (5)
days, either party has the right to terminate any agreement without penalty with written
notice. CCA will earn fees pro-rata through the date of termination. Upon termination of
the account, any prepaid, unearned fees will be promptly refunded, and any earned,
unpaid fees will be due and payable.

Types of Clients
CCA provides portfolio management services to high net worth individuals, foundations,
charitable organizations, pension and profit sharing plans, trusts, corporations,
investment companies registered under the Investment Company of 1940, insurance-
dedicated funds and other business entities.

Account Minimums
The minimum separate account size is $5,000,000. Accounts may be aggregated for
determining the dollar value of assets. Waivers or exceptions from the minimum account
requirement may be granted at the exclusive discretion of CCA.