CWM LLC

Item 5 – Fees and Compensation

This section provides details about the fees and compensation arrangements of each of our services.

Asset Management Fees
CWM provides investment management services for an annual fee based upon a percentage of the market
value of the aggregate client assets held under management or commonly termed as household accounts.
The annual investment advisory fee charged range up to a maximum of 2.50% of the assets held in the
account. Asset management Fees are negotiable depending on the representative providing the
management services, the market value of the account, asset types, complexity of the client’s portfolio,
the client’s financial situation, level of portfolio trading activity, anticipated future assets, the relationship
of the client to the advisor, and additional services requested or performed. Fee waivers or discounts
which are not available to clients may be offered to Owners, Directors, Officers and Associated Persons of
CWM, LLC, and our related companies as well as to family members and friends of associated persons of
CWM.

CWM retains up to 65 basis points (i.e., 65% of 1%) of the annual fee charged to your account for the
administrative and support services we provide. At our discretion, we bundle related accounts to achieve a
break on management fees. Account bundling does not reduce our administrative fee; each account is
priced separately for purposes of the administrative fee. Account bundling is only available for accounts
with the same fee schedule and with clients in the same immediate. When accounts are bundled, the total
period ending balance for all bundled accounts is used to determine the applicable fee percentage from
the client fee schedule. This percentage is then applied to each account and a fee charged to each
respectively.

CWM, LLC Form ADV Part 2A                                                                      Revised 03/2026

It is important to note that it is possible that different investment advisor representatives may charge
different asset management or account service fees or may waive certain custodian fees for providing the
same types and level of service to clients. The specific level of services you will receive, and the asset
management fees you will be charged will be specified in your advisory services agreement. The annual fee
is divided and paid quarterly in advance or in arrears through a direct debit to your account or by some
other methodology depending upon the agreement between your advisor and CWM.

CWM is responsible for the fee calculation and requesting the debiting all fees from your accounts held at
our approved custodians. You must provide the account custodian with written authorization to debit
advisory fees from your accounts and pay the fees to CWM. Fees are based on the account's asset value as
of the last business day of the prior calendar quarter. Fees for accounts opened at any time other than the
beginning of a quarter are prorated based on the number of days remaining in the initial quarter.

Our fees may be higher or lower than fees charged by other financial professionals offering similar services.
CWM reserves the right to modify its fee schedule in the future by providing you with 30 days advance
notice of any modification.

Fees for Sub-Advisory Services
Sub-Advisory Asset Management Services fees can range up to 1% and are negotiated on a case by-case
basis based on the asset size, and other variables. Fees may be lower on Sub-Advisory services than to
other direct clients of CWM for similar levels of assets due to the limited scope of service and other factors
under the Sub-Advisory relationship.

The fees charged by CWM do not include the fees charged by the unaffiliated investment adviser
introducing client account to CWM. Fees assessed by the introducing advisory firm are separate and in
addition to the fees we charge. We strive to ensure that the combined fees charged by CWM and the
unaffiliated investment advisers do not exceed industry standards. Each firm is separately responsible for
calculating their fee and debiting their fee from your account.

Billing Cycle
We bill the annual advisory fee on a quarterly basis and in advance or in arrears, at the start of the
calendar quarter or the end of the quarter. For accounts billed in advance, fees are based on the value of
the account on the last business day of the previous quarter. If asset management services are
commenced in the middle of a billing period, the prorated fee for the initial billing period is billed in arrears
at the same time as the next full billing period’s fee is billed. If a deposit more than $1,000 occurs during a
billing period after the fee calculation, the fee for the billing period will be recalculated at the end of the
billing period and CWM will bill Client a second fee pro-rata, in arrears, on the additional deposits. If a

CWM, LLC Form ADV Part 2A                                                                     Revised 03/2026

withdrawal more than $1,000 occurs during a billing period after the fee calculation, the fee for that billing
period will be recalculated at the end of the billing period and Client will be refunded the pro-rate fee that
was attributable to the amount of the withdrawal.

For accounts billed in arrears, advisory fees are based on the average daily balance of your portfolio or the
value of the account on the last day of the quarter. Please refer to your advisory agreement or ask your
financial professional how you are being charged. For accounts that are paid on a quarterly basis and in
arrears means the fee is paid after the service. If the services to be provided start any time other than the
first day of a quarter or month, the fee will be prorated based on the number of days remaining in the
quarter or month. If this Agreement is terminated prior to the end of the billing cycle, CWM shall be
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Item 7 – Types of Clients

We offer investment advisory services to a wide variety of clients including, but not limited to, individuals
including those with high net worth and individuals who are considered a “qualified client” under Rule 205-
3 of the Investment Advisers Act of 1940, or is a “qualified purchaser,” pension and profit sharing plans
(other than plan participants), trusts, estates, 401(k) sponsor plans and Individual Retirement Accounts

CWM, LLC Form ADV Part 2A                                                                  Revised 03/2026

(IRA, SEP, ROTH IRA, ),charitable organizations, corporations and other business entities, including sole
proprietorships.

Our Retirement Plan Services are available to clients that are sponsors or other fiduciaries to plans,
including 401(k), 457(b), 403(b) and 401(a) plans. Plans include participant-directed defined contribution
plans and defined benefit plans. Plans may or may not be subject to ERISA.

We do not require a minimum asset amount for Retirement Plan Consulting Services.