DL Carlson Investment Group Inc

Fees and Compensation
Description
D.L. Carlson Investment Group, Inc. calculates its asset management fees as a
percentage of assets under management. Clients are billed soon after the last day of
each calendar quarter based upon the value of the assets under management at the
end of the quarter.

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If a client's contract becomes effective subsequent to the first day of a calendar quarter
or month, or terminates before the last day of a calendar quarter or month, the fee is
determined by applying the foregoing percentage to the applicable portion of such
quarter (such total value being determined as of the last day of the calendar quarter)
and reducing the fee proportionately. D.L. Carlson Investment Group, Inc. may, at its
discretion, combine accounts for clients with multiple accounts for purposes of
calculating the appropriate fee.
Fees are negotiable at the discretion of the Chief Compliance Officer of D.L. Carlson
Investment Group, Inc. The standard annual fee schedule is as follows:
                                     Equity Accounts:
                                1.00% on first $4,000,000
                                0.75% on next $6,000,000
                           Negotiated Fee for larger amounts

                                   Balanced Accounts:
                                0.80% on first $4,000,000
                                0.60% on next $6,000,000
                           Negotiated Fee for larger amounts

                                 Fixed Income Accounts:
                                0.50% on First $4,000,000
                                0.40% on next $6,000,000
                           Negotiated Fee for larger amounts

Financial Planning Fees: Financial planning services are a flat fee of $3,500. When a
financial planning contract is signed, payment is expected in full. However, for DLC
clients whose household relationship has billable AUM (“assets under management”)
above $2 million, the firm offers financial planning entirely included in the asset-based
fee.

If financial plans require an update within six months from the date of contract signing
that will take longer than an hour to complete, additional fees may apply depending on
the scope of the request. If this proves to be the case, the firm will quote a fee and
receive consent in advance of performing any work revisions. Updates start at a rate of
$250 per hour and both parties have the right not to renew.

                                         3/28/2025

Fee Billing
Investment management fees are billed quarterly, in arrears meaning that we invoice
you after the three-month billing period has ended. Payment in full is expected upon
invoice presentation. Fees are usually deducted from a designated client account to
facilitate billing. The client must consent in advance to direct debiting of their
investment account.

Other Fees and Conflict of interest disclosure
Custodians may charge transaction fees on purchases or sales of certain mutual funds
and exchange-traded funds. These transaction charges are usually small and incidental
to the purchase or sale of a security. The selection of the security is more important
than the nominal fee that the custodian charges to buy or sell the security. Custodians
may charge an annual fee for account maintenance.
DL Carlson Investment Group, Inc.'s fees are exclusive of brokerage commissions,
transaction fees, and other related costs and expenses which will be incurred by the
client. Clients may incur certain charges imposed by custodians, brokers, third party
investment and other third parties such as fees charged by managers, custodial fees,
deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and electronic
fund fees, and other fees and taxes on brokerage accounts and securities transactions.
Mutual funds and exchange traded funds also charge internal management fees, which
are disclosed in a fund’s prospectus. Such charges, fees and commissions are
exclusive of and in addition to Carlson’s fee, and Carlson shall not receive any portion
of these commissions, fees, and costs. Page 8 "Brokerage Practices" further describes
the factors that Carlson considers in selecting or recommending broker-dealers for
client transactions and determining the reasonableness of their compensation (e.g.,
commissions).
When we provide investment advice to you regarding your retirement plan account or
individual retirement account, we are fiduciaries within the meaning of Title I of the
Employee Retirement Income Security Act (“ERISA”) and/or the Internal Revenue
Code, as applicable, which are laws governing retirement accounts. The way we make
money creates the possibility of some conflicts with your interests, so we operate under
a special rule that requires us to act in your best interest and not put our interests ahead
of yours.

Expense Ratios
Mutual funds generally charge a management fee for their services as investment
managers. The management fee is called an expense ratio. For example, an expense
ratio of 0.50 means that the mutual fund company charges 0.5% annually for their
services. These fees are in addition to the fees paid by you to D.L. Carlson Investment
Group, Inc.
Performance figures quoted by mutual fund companies in various publications are after
their fees have been deducted. DL Carlson infrequently uses mutual funds as part of its
investment strategy.

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Past Due Accounts and Termination of Agreement
D.L. Carlson Investment Group, Inc. reserves the right to stop work on any account that
is more than 90 days overdue. In addition, D.L. Carlson Investment Group, Inc. reserves
the right to terminate any agreement where a client has willfully concealed or has
refused to provide pertinent information about financial situations when necessary and
...

Types of Clients
Description
D.L. Carlson Investment Group, Inc. generally provides investment advice to individuals,
pension and profit sharing plans, trusts, estates, charitable organizations, corporations
and business entities.

Account Minimums
D.L. Carlson Investment Group, Inc. generally suggests that the minimum size of an
advisory account should be $250,000. However, certain accounts, which can
reasonably be expected to exceed $250,000 within a relatively short time, are accepted.
D.L. Carlson Investment Group, Inc. may also, at its discretion, accept accounts under
$250,000. D.L. Carlson Investment Group, Inc., in its sole discretion, may charge a
lesser investment advisory fee based upon certain criteria (e.g., historical relationship,
type of assets, anticipated future earning capacity, anticipated future additional assets,
dollar amounts of assets to be managed, related accounts, account composition,
negotiations with clients, etc.).

Methods of Analysis, Investment Strategies and Risk of Loss