Consolidated Financial Management Group LLC

Item 5. Fees and Compensation

FEE SCHEDULE

       PORTFOLIO MANAGEMENT: The annual fee for portfolio management services will
be charged as a percentage of assets under management, according to the following schedule:

                Assets Under Management                        Annual Fee (%)
                       $0 - $100,000                               1.50%
                   $100,001 - $250,000                             1.00%
                   $250,001 - $500,000                             0.90%
                  $500,001 - $1,000,000                            0.80%
                 $1,000,001 - $2,500,000                           0.70%
                     Over $2,500,000                             negotiable

        CFMG may group certain related client accounts for the purposes of determining the
annualized fee. There are no account minimums or minimum fees for portfolio management
clients. Clients can arrange to be invoiced or have their account directly debited. We use software
provided by Orion Advisor Services to manage certain client accounts; these client accounts will
have the advisory fee calculated quarterly based on the average daily balance of the account. All
other clients will have the advisory fee calculated quarterly based on the value of the account at
the end of the previous quarter.

       CFMG will not directly debit any client account without receiving written authorization
from the client.

       FINANCIAL PLANNING/CONSULTING: The fees for financial planning and consulting
services will be charged in the following ways:

       •       As a fixed fee, typically ranging from $500 to $5,000; and/or

       •       On an hourly basis, ranging from $100 to $300 per hour.

        If appropriate, an estimate for total hours will be determined at the start of the advisory
relationship. A retainer may be requested upon completion of CFMG’s fact-finding session with
the client, however, advance payment will never exceed $1,200 for work that will not be completed
within six months. The balance will be due upon completion of the plan or consulting service.

        CFMG’s financial planning and/or consulting fee(s) will be determined based on the nature
of the services being provided and the complexity of each client’s circumstances. All fees are
agreed upon prior to entering into a contract with any client. There are no account or net worth
minimums for financial planning and/or consulting clients.

       Commissions will not be credited towards future advisory fees. Notwithstanding the above,
advisory fees will always be offset for commissions earned on securities transactions executed in
pension, profit-sharing, 401k, IRA or other client accounts where to do otherwise would constitute
a prohibited transaction under the provisions of ERISA or the Internal Revenue Code.

       Further, if a financial planning/consulting client implements investment recommendations
by engaging CFMG for portfolio management services, CFMG may, at its discretion, waive,
discount, or adjust financial planning/consulting fees for portfolio management services fees.

      PENSION CONSULTING: CFMG offers several fee options to pension consulting clients.
CFMG may be compensated based on an annual percentage of plan assets for services involving
ongoing reviews, and/or it may be compensated by an hourly fee or fixed fee.

       The annual fee may range from 0.20% to 1.25% of plan assets depending on the services
requested and the size of the plan. Plan sponsors will be invoiced in arrears at the end of each
calendar quarter. Our fees can be calculated on an average daily balance, previous quarter end
balance or current quarter/month-end balance (market value or fair market value in the absence of
market value, plus any credit balance or minus any debit balance). This is determined individually
on a per plan basis. The annual fee will typically be charged according to the following schedule:
                Assets Under Management                          Annual Fee (%)
                       $0 - $100,000                                1.25%
                   $100,001 - $250,000                              0.90%
                   $250,001 - $500,000                              0.80%
                  $500,001 - $1,000,000                             0.50%
                 $1,000,001 - $2,500,000                            0.30%
                     Over $2,500,000                                0.20%
        In certain situations, plan sponsors may arrange for their third-party administrator to
calculate CFMG’s fee and pay the fee on a monthly basis.

        CFMG’s hourly charges range from $100 to $300 per hour. A fixed fee may be quoted
based on an estimate of hours for the services requested. CFMG may request a retainer for hourly
and fixed fee arrangements. The amount of a requested retainer will never exceed the fee for
services to be provided within the first six months of an engagement.
        These different types of fees may also be combined as appropriate for the different types
of services requested by the client. There are no account minimums or minimum fees for pension
consulting clients.

GENERAL INFORMATION:

       The following General Information relates to the advisory services described above and
does not include CFMG’s advisory services to private fund clients.

       Negotiability of Fees: Advisory fees are negotiable.

       Fee Calculation: the advisory fee charged is calculated as described above and is not
charged on the basis of a share of capital gains upon or capital appreciation of the funds or any
portion of the funds of an advisory client (Section 205(a)(1) of the Advisers Act).

       Termination: A client agreement may be canceled at any time, by either party, for any
reason upon receipt of 30 days written notice. Upon termination of any account, any prepaid,
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Item 7. Types of Clients

CFMG provides advisory services to the following types of clients:

 •   Individuals
 •   High net worth individuals
 •   Charitable organizations
 •   Pensions and Profit-sharing plans

We do not require a minimum account size to open or maintain an account.