Discretionary Management Services LLC

Item 5: Fees and Compensation

Investment Consulting and Management Fees

DMS charges fees in two ways: (1) as a percentage of assets under management (AUM), and (2) as a flat fixed fee.

Percentage of AUM
DMS charges for Outsourced Chief Investment Officer (OCIO) services as a percentage of AUM based upon asset size,
number of accounts, and complexity of the investment policy. Fee percentages may range from .05% to .70% of
AUM on an annual basis.

Flat Fixed Fee
DMS may negotiate a flat fixed fee with clients for investment services, dependent upon the value of the client’s
assets under advisement, complexity of portfolio, travel required, number of meetings per year, and various other
relevant factors.

Performance Based Fee
DMS may accept performance based fees in limited circumstances for investment services, provided that the client
meets the qualifications for such fees. A performance fee arrangement may create an incentive for an advisor to
make riskier recommendations or investments than would be made under a different arrangement. Such fee
arrangements may also create an incentive to favor higher fee paying accounts over other accounts in the allocation
of investment opportunities. We have procedures designed and implemented to ensure that all clients are treated
fairly and equally, and to prevent any conflict from influencing the allocation of investment opportunities among
clients.

Fees for all of DMS engagements are billed in arrears. DMS OCIO services charges a client quarterly based upon the
value of the client’s AUM as of the last day of the previous quarter. In the event the contract with DMS is terminated
prior to the end of the agreed upon period, DMS will prorate the fee accordingly and either bill the pro-rated fee to
the client or reimburse the client for the pro-rated amount already paid.

Outside of the annual fee paid to DMS, clients may also incur additional charges from other service providers, such as
investment manager fees or mutual fund expenses, transaction costs, custodial fees, actuarial expenses,
recordkeeping, legal or other fees not covered within the DMS contract. These fees are in addition to the fees paid
by the client to DMS. None of DMS’s supervised persons receives compensation for the sale of securities or other
investment products, nor by recommending managers for selection.

Item 7: Types of Clients

DMS provides its services to institutional clients such as pension and profit sharing plans, trusts, estates, charitable
organizations, corporations, other business entities and high-net worth individuals There is no minimum account

                            PART II (A) of FORM ADV: FIRM BROCHURE

size, but there is a minimum annual fee of $50,000 per client for DMS services. Fees and minimums are negotiable.
DMS serves as the manager of Global Tactical Asset Allocation Fund, LLC (GTAA Fund, LLC), a private fund of funds.