Englebert Financial Advisers LLC

ITEM 5. Fees and Compensation

Fees for Financial Assessments
Unless indicated under a separate agreement, fees are not charged for financial assessment
services or educational seminars/conferences, as they are generally included under the
Client’s investment management services agreement. However, for non-advisory clients, we
offer financial assessment services for a negotiable hourly fee of up to $250 for a financial
assessment and/or general consulting services. If you enter into a management agreement
with us within 90 days of the financial assessment, we will rebate the financial assessment
fees.

Portfolio Management Fees
Investment advisory services are offered through the portfolio management program for a
single annualized fee rate based on assets under management.

Adviser’s fees are based on the market value of the assets under management and, while
negotiable, generally vary between 1.00% and 1.50%, depending upon the level of services
required:

                           Portfolio Value      Total Client Fee
                           First $1,000,000     1.50%
                           Next $2,000,000      1.30%
                           Next $2,000,000      1.25%
                           Next $5,000,000      1.10%
                           Over $10,000,000     1.00%

The Adviser can offer fees that differ from our published rates for charitable Clients,
employees and their families, Clients with unusual portfolios or service needs, and as
required for competitive reasons. Accordingly, it is possible that similarly situated Clients
could pay disparate fees. All deviations from published rates are subject to review and must
be approved in advance by the Adviser’s Chief Compliance Officer.

Clients will not be charged a total management fee over the 3% industry average. Clients
and prospective Clients are encouraged to compare fees and service offerings across a
variety of firms.

Fees are generally charged in advance based on the previous quarter’s closing balance and
are deducted directly from the Client’s account(s) at the custodian. Changes to payment
arrangements (e.g., Clients wishing to pay in arrears or receive an invoice(s) and pay
directly) are available but must be agreed to by Englebert and the Client in writing.

The first quarter’s management fee will be calculated on the account’s initial inception value
as reported by the account’s custodian. The first quarter’s management fee will also be

         Englebert Financial Advisers, LLC Investment Advisory Part 2A Brochure

prorated for the number of days that services were provided during the initial quarter. Going
forward, the management fee will be billed quarterly in advance, as derived from the
Custodian’s market value of the assets being managed by the Adviser on the last day of the
previous quarter. Fees for partial periods of service are prorated accordingly.

Billing on Cash Positions
The firm treats cash and cash equivalents as an asset class. Accordingly, unless otherwise
agreed in writing, all cash and cash-equivalent positions (e.g., money market funds, etc.)
are included as part of assets under management for purposes of calculating the firm’s
advisory fee. At any specific point in time, depending upon perceived or anticipated market
conditions/events (there is no guarantee that such anticipated market conditions/events will
occur), the firm may maintain cash and/or cash equivalent positions for defensive, liquidity,
or other purposes. While assets are maintained in cash or cash equivalents, such amounts
could miss market advances and, depending upon current yields, at any point in time, the
firm’s advisory fee could exceed the interest paid by the Client’s cash or cash equivalent
positions.

Billing During Periods of Portfolio Inactivity
The firm has a fiduciary duty to provide services consistent with the Client’s best interest.
As part of its investment advisory services, the firm will review Client portfolios on an
ongoing basis to determine if any changes are necessary based upon various factors,
including but not limited to investment performance, fund manager tenure, style drift,
account additions/withdrawals, the Client’s financial circumstances, and changes in the
Client’s investment objectives. Based upon these and other factors, there may be extended
periods of time when the firm determines that changes to a Client’s portfolio are neither
necessary nor prudent. Notwithstanding, unless otherwise agreed in writing, the firm’s
annual investment advisory fee will continue to apply during these periods, and there can
be no assurance that investment decisions made by the firm will be profitable or equal any
specific performance level(s).

If assets are deposited into or withdrawn from an account after the inception of a billing
period, the fee payable with respect to such assets is not adjusted or prorated to account for
the change in portfolio value.

Important information about the deduction of management fees:
   •   Authorization for the Adviser to deduct fees directly from the Client’s account is
       provided within the Investment Advisory Agreement;
   •   Englebert sends the qualified custodian written notice of the amount of the fee to be
       deducted from the Client’s account;
   •   Clients will receive a statement from the custodian which shows specific holdings as
       well as fee deduction; and
   •   Clients are responsible for reviewing the accuracy of the fees being billed, as the
       custodian will not do so.

          Englebert Financial Advisers, LLC Investment Advisory Part 2A Brochure

Client or Adviser may cancel the investment management agreement by providing 30 days’
written notice to the other party. Upon such notification, fees paid in advance will be
prorated, subject to the termination provisions within the agreement, and any unearned
fees will be refunded.
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ITEM 7. Types of Clients

Englebert seeks to provide investment supervisory services to a variety of Clients whose
types include, but are not limited to, individuals, institutions, municipalities, pension and
profit-sharing plans, trusts, estates, charitable organizations, corporations, or other business
entities. There is currently no minimum account size or any requirements to open or maintain
an account.