Item 5 Fees and Compensation
Retirement Plan Services
ERISA 3(21) and 3(38) Services to Plans. The fees for 3(21) and 3(38) services to Plans are negotiable,
depending on the operational, investment-related, and educational services selected by the Plan Fiduciary and
are either equal to a percentage of the Plan assets or offered for a flat rate. Depending on the terms in the service
agreement with the Plan Fiduciary, fees are billed on a monthly, quarterly, or annual schedule, in advance or
arrears. Fees are generally remitted by the recordkeeper out of Plan assets, although a Plan Fiduciary may elect
for D.A. Davidson to invoice the employer directly. Fees for Plan services that commence or end during the middle
of a billing period, and are calculated by D.A. Davidson, are prorated based on the number of days the Plan is
serviced during the quarter. In instances where the recordkeeper is the custodian for plan assets, the recordkeeper
calculates the fees and is responsible for prorating the fees in accordance with their terms of service.
All fees paid to D.A. Davidson for the 3(21) and 3(38) services are separate and distinct from the transaction fees
and other expenses charged by broker-dealers, custodians, investment companies, record-keepers, and other
third-party vendors for products and services selected by the Plan Fiduciary. D.A. Davidson and its Financial
Advisors primarily recommend investments and share classes (if applicable) designed for ERISA covered plans.
Investments can include sales charges, management fees, and a 12b-1 fee or other marketing expenses. D.A.
Davidson does not typically receive any of this additional compensation from the investment company or any other
third party. For more information about different types of investments and their fees, please see D.A. Davidson’s
Regulation Best Interest Disclosures.
Any education or advice provided to the Plan participants under the 3(21) or 3(38) services to the Plan are provided
at no additional cost to the Plan participants.
Self-Directed Brokerage and Advisory Accounts for Plan Participants. As previously noted, D.A. Davidson
can provide brokerage or advisory accounts to Plan participants that wish to add a brokerage or investment
advisory option for their Plan accounts (when permitted by their Plan’s rules) either through a broker-dealer or
wrap fee program agreement. The fees, expenses, and related conflicts of interest for brokerage and advisory
accounts are further described in D.A. Davidson’s Regulation Best Interest Disclosures and Wrap Fee Program
Brochure, respectively, which clients receive upon opening of these accounts.
Financial Planning Services
As described under Item 4 above, Financial Planning Services can be provided at no additional cost to D.A.
Davidson clients and on or about February 27, 2026, Financial Planning Services are available to all advisory
clients.
If a fee is assessed for Financial Planning Services, such fee will be determined by a client’s Financial Advisor
based on local market considerations and the complexity of the financial planning needs involved.
Fees for Financial Planning Services are negotiable and generally range from $1,500 to $15,000 or more
depending on the nature of the services and complexity of the client’s circumstances. The fees charged for
Financial Planning Services are paid to D.A. Davidson, a portion of which is paid to the Financial Advisor providing
the services. Financial professionals who do not meet licensing, tenure, or other requirements set forth in the fee
for planning policy may still charge a fee for a financial plan prepared by D.A. Davidson’s Wealth Planning Group
or another D.A. Davidson Financial Advisor with the necessary credentials and receive a portion of such fee in the
form of a revenue sharing arrangement, depending on the Financial Advisor’s seniority and involvement in the
planning process.
All fees are agreed upon in writing and will be due upon entering into the Agreement. In certain circumstances,
50% of the fee will be payable upon entering into the Agreement with the remainder due upon completion of the
agreed upon services and delivery of the financial plan. D.A. Davidson may waive and/or refund part or all fees
for Financial Planning Services in its sole discretion. However, in the event the client cancels the services prior to
the completion of the plan, any portion of the fee paid in advance is not reimbursable.
Davidson Private Wealth Services
Davidson Private Wealth Services are available to clients with a stated net worth of $20 million at no additional
cost. If clients decide to separately open accounts with D.A. Davidson, such accounts generate brokerage and
advisory fees. Please see D.A. Davidson’s Form CRS for a description of our services overall, D.A. Davidson’s
Wrap Fee Program Brochure for details about our advisory services, fees and conflicts of interest and Regulation
Best Interest Disclosures for details about our brokerage services, fees, and conflicts of interest.