Fees and Compensation — Form ADV Part 2A (3/30/2026)
[Brochure]
Item 5 - Fees and Compensation
Fee Schedule
DBSI provides Research Services and RJA Services for a cash fee (“Advisory Fee”). Research Services
may constitute eligible research under the safe harbor of section 28(e) of the Securities Exchange Act of
1934 for use in connection with a client’s investment making decisions.
All fees are subject to negotiation.
Other Fees and Expenses
DBSl’s Advisory Fees are exclusive of any brokerage commissions, transaction fees or other related
costs and expenses which may be incurred by the client in connection with any securities transactions
independently made by the client. The Research Services provided by DBSI do not include any securities
trading activity on a discretionary basis or otherwise.
Account Minimums and Types of Clients — Form ADV Part 2A (3/30/2026)
[Brochure]
Item 7 - Types of Clients
As discussed in Item 4, DBSI provides Research Services directly to institutional clients only. Such clients
include without limitation: investment advisers and managers and pension plans. As discussed in Item 4,
DBSI entered into a continuing relationship agreement with RJA to provide the RJA Services. Pursuant
to that agreement, RJA will have the ability to provide certain of its retail and institutional clients and
certain RJA employees with access to written equity research and strategy reports.