Confidential Management Advisors Inc

Item 5 Fees and Compensation
Please refer to the Advisory Business section in this Brochure for information on our advisory fees, fee
deduction arrangements, and refund policy according to each service we offer.

Additional Fees and Expenses
As part of our investment advisory services to you, we may invest, or recommend that you invest, in
mutual funds and exchange traded funds. The fees that you pay to our firm for investment advisory
services are separate and distinct from the fees and expenses charged by mutual funds or exchange
traded funds (described in each fund's prospectus) to their shareholders. These fees will generally
include a management fee and other fund expenses. You will also incur transaction charges and/or
brokerage fees when purchasing or selling securities. These charges and fees are typically imposed
by the broker-dealer or custodian through which your account transactions are executed. We do not
share in any portion of the brokerage fees/transaction charges imposed by the broker-dealer or
custodian. To fully understand the total cost you will incur, you should review all the fees charged by
mutual funds, exchange traded funds, our firm, and others. For information on our brokerage
practices, please refer to the Brokerage Practices section of this Disclosure Brochure.

Compensation for the Sale of Securities or Other Investment Products
Persons providing investment advice on behalf of our firm are registered representatives with
Confidential Management Financial Services, Inc. ("CMFS"), a securities broker-dealer, and a member
of the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation. In
their capacity as registered representatives, these persons receive commission-based compensation
in connection with past purchase and sale of securities or other investment products, including asset-
based sales charges, service fees or 12b-1 fees, for the sale or holding, of mutual funds for the sale of
investment company products. Compensation earned by these persons in their capacities as
registered representatives is separate and in addition to our advisory fees. Because this practice
presents a conflict of interest as persons providing investment advice to advisory clients on behalf of
our firm who are registered representatives have an incentive to recommend investment products
based on the compensation received effect securities transactions for the purpose of generating
commissions rather than solely based on your needs. Therefore, no current or potential future mutual
fund positions having 12b-1 fees payable to any persons providing investment advice to advisory
clients on behalf of our firm will be included in any current or future advisory fees.

Persons providing investment advice to advisory clients on behalf of our firm often select or
recommend mutual fund investments available through various custodians. In many instances, the
mutual fund investments available from custodians do not allow client access to share classes that do
not pay 12b-1 fees which are less expensive. Persons providing investment advice to advisory clients
on behalf of our firm will select or recommend the most advantaged options available from custodians.
 In some instances, these options will include share classes which pay 12b-1 fees.

You are under no obligation, contractually or otherwise, to purchase securities products through any
person affiliated with our firm who receives compensation described above.

Purchases in variable annuity contracts may be subject to payment of commissions to CMFS.
 Ongoing variable annuity distribution fees or "12b-1 fees". Additionally, we provide PRM Strategic
Planning Services to corporate employees through corporate benefit plan programs. Some of our
PRM clients are provided with estate and tax planning services under company-sponsored financial
planning benefit programs. These services may be billed to the corporate benefit plan programs
through our firm. Employees provide their tax and estate planning invoices to us. We include these
invoices along with our Personal Resource Management billings to the corporate sponsor. The
corporate sponsor pays our firm and we retain only the financial planning fee for PRM Strategic
Planning Services and then forward the estate and tax planning fees to the firms performing those
services.", if any, are also paid to CMFS. Full disclosure is made to client by means of investment
prospectus. Clients are under no obligation to purchase products through the CMFS.

Persons providing investment advice on behalf of our firm are licensed as independent insurance
agents. These persons will earn commission-based compensation for selling insurance products,
including insurance products they sell to you. Insurance commissions earned by these persons are
separate and in addition to our advisory fees. This practice presents a conflict of interest because
persons providing investment advice on behalf of our firm who are insurance agents have an incentive
to recommend insurance products to you for the purpose of generating commissions rather than solely
based on your needs. However, you are under no obligation, contractually or otherwise, to purchase
insurance products through any person affiliated with our firm.

Item 7 Types of Clients
We offer investment advisory services to individuals, trusts, estates, beneficiaries, pension and profit
sharing plans, and charitable organizations.

In general, we do not require a minimum dollar amount to open and maintain an advisory account;
however, we have the right to terminate your Account if it falls below a minimum size which, in our sole
opinion, is too small to effectively manage.