D&A Advisors LLC

Item 5 Fees and Compensation
Portfolio Management Services
Our annual fee for portfolio management services is equal to 1% of the market value of your assets
under our management. Assets in each of your account(s) with us are included in the fee assessment
unless specifically identified in writing for exclusion.

For the initial quarter, our portfolio management fee is billed and payable, quarterly in arrears, based
on the number of days remaining in the quarter once the portfolio is fully funded. Thereafter, our
annual portfolio management fee will be billed and payable quarterly in advance, based on the balance
at the beginning of the billing period.

If the portfolio management agreement is executed at any time other than the first day of a calendar
quarter, our fees will apply on a pro rata basis in arrears, which means that the advisory fee is payable
in proportion to the number of days in the quarter for which you are a client over the sum of days in the
quarter. Our advisory fee is negotiable, depending on individual client circumstances.

At our discretion, we may combine the account values of family members living in the same household
to determine the applicable advisory fee. For example, we may combine account values for you and
your minor children, joint accounts with your spouse, and other types of related accounts. Combining
account values may increase the asset total, which may result in your paying a reduced advisory fee.

The advisory fee is deducted from the account by LPL as the custodian of assets based on a written
authorization from the client. LPL calculates and deducts the advisory fee quarterly in arrears. Our
advisory fees will be deducted from your account(s) only when the following requirements are met:

    • You provide our firm with written authorization permitting the fees to be paid directly from your
      account held by the qualified custodian;
    • We send you an invoice showing the amount of the fee, the value of the assets on which the
      fee is based, the time period covered by the fee, and the specific manner in which the fee was
      calculated; and
    • The qualified custodian agrees to send you a statement, at least quarterly, indicating all
      amounts disbursed from your account including the amount of the advisory fee paid directly to
      our firm.

We encourage you to reconcile our invoices with the statement(s) you receive from the qualified
custodian. If you find any inconsistent information between our invoice and the statement(s) you
receive from the qualified custodian, call our main office number located on the cover page of this
brochure.

You may terminate the portfolio management agreement upon 30 days written notice. You will incur a
pro rata charge for services rendered prior to the termination of the portfolio management agreement,
which means you will incur advisory fees only in proportion to the number of days in the quarter for
which you are a client. If you have pre-paid advisory fees that we have not yet earned, you will receive
a prorated refund of those fees.

Financial Planning Services
We charge an hourly fee of $200 - $350 for financial planning services, which is negotiable depending
on the scope and complexity of the plan, your situation, and your financial objectives. An estimate of
the total time/cost will be determined at the start of the advisory relationship. In limited circumstances,
the cost/time could potentially exceed the initial estimate. In such cases, we will notify you and request
that you approve the additional fee.

We also offer advice on single subject financial planning/general consulting services at the same
hourly rate.

Payment for these services can be paid by invoice through an accounting system (e.g., QuickBooks
Online) via ACH or credit card. Checks will also be accepted. We will not require prepayment of a fee
more than six months in advance and in excess of $1,200. Financial planning costs may be waived or
reduced the at the firm's discretion.

You may terminate the financial planning agreement upon 30 days written notice to our firm. If you
have pre-paid financial planning fees that we have not yet earned, you will receive a prorated refund of
those fees. If financial planning fees are payable in arrears, you will be responsible for a prorated fee
based on services performed prior to termination of the financial planning agreement.

Pooled Investment Vehicles
The fees charged by the Fund are separate and apart from our advisory fees. You should refer to the
offering documents for a complete description of the fees, investment objectives, risks and other
relevant information associated with investing in the Fund. Persons affiliated with our firm may have
made an investment in the Fund and may have an incentive to recommend the Fund over other
investments. See Item 10 below (Other Financial Industry Activities and Affiliations) for more
information.

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 whom 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,
...

Item 7 Types of Clients
We offer investment advisory services to individuals (other than high net worth individuals) and high
net worth individuals.

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 manage effectively.

We may also combine account values for you and your minor children, joint accounts with your
spouse, and other types of related accounts to meet the stated minimum.