Engleson & Associates Inc

Item 5 Fees and Compensation
                    INVESTMENT SUPERVISORY SERVICES ("ISS")

                     PORTFOLIO MANAGEMENT SERVICES FEES

Our annual fees for Portfolio Management Services are based upon a percentage of assets under
management and generally range from 0.75% to 3%.

Any accounts using sub-advisory services as described in Item 4 – Advisory Services are
charged according to this same fee schedule. Should any applicable expenses or fees be assessed
by the custodian due to use of these strategies, these costs are separate from, and in addition to,
any advisory fees paid to us.

Limited Negotiability of Advisory Fees: Although Engleson & Associates, Inc. has established
the aforementioned fee schedule(s), we retain the discretion to negotiate alternative fees on a
client-by-client basis. Client facts, circumstances and needs are considered in determining the fee
schedule. These include the complexity of the client, assets to be placed under management,
anticipated future additional assets; related accounts; portfolio style, account composition,
reports, among other factors. The specific annual fee schedule is identified in the contract
between the adviser and each client.

We may group certain related client accounts for the purposes of achieving the minimum account
size requirements and determining the annualized fee.

Discounts, not generally available to our advisory clients, may be offered to family members and
friends of associated persons of our firm.

                              CONSULTING SERVICES FEES

Engleson & Associates, Inc.'s Consulting Services fee is determined based on the nature of the
services being provided and the complexity of each client’s circumstances. All fees are agreed
upon prior to entering into a contract with any client.

Our Consulting Services fees are calculated and charged on an hourly basis, ranging from $100
to $500 per hour. An estimate for the total hours is determined at the start of the advisory
relationship.

Our Consulting Services fees are calculated and charged on a fixed fee basis, typically ranging
from $1,000 to $15,000, subject to the specific arrangement reached with the client.

Our Consulting Services fees are charged as a percentage of assets under advisement by our firm,
typically ranging from .25% to 3% of assets under review, depending on the nature and
complexity of each client’s circumstances, and upon mutual agreement with the client.

The client is billed quarterly in advance based on our estimated Consulting Services fees. The
client is billed quarterly in arrears based on actual hours accrued.

Management personnel and other related persons of our firm are licensed as registered
representatives of a broker-dealer and/or licensed as insurance agents or brokers. In their separate
capacity(ies), these individuals are able to implement investment recommendations for advisory
clients for separate and typical compensation (i.e., commissions, 12b-1 fees or other sales-related
forms of compensation). This presents a conflict of interest to the extent that these individuals
recommend that a client invest in a security which results in a commission being paid to the
individuals. Clients are not under any obligation to engage these individuals when considering
implementation of advisory recommendations. The implementation of any or all
recommendations is solely at the discretion of the client.

                                 GENERAL INFORMATION

Termination of the Advisory Relationship: A client agreement may be canceled at any time,
by either party, for any reason upon receipt of 30 days written notice. As disclosed above, certain
fees are paid in advance of services provided. Upon termination of any account, any prepaid,
unearned fees will be promptly refunded. In calculating a client’s reimbursement of fees, we will
pro rate the reimbursement according to the number of days remaining in the billing period.

Mutual Fund/ ETF Fees: All fees paid to Engleson & Associates, Inc. for investment advisory
services are separate and distinct from the fees and expenses charged by mutual funds and/or
ETFs to their shareholders. These fees and expenses are described in each fund's prospectus.
These fees will generally include a management fee, other fund expenses, and a possible
distribution fee. If the fund also imposes sales charges, a client may pay an initial or deferred
sales charge. A client could invest in a mutual fund directly, without our services. In that case,
the client would not receive the services provided by our firm which are designed, among other
things, to assist the client in determining which mutual fund or funds are most appropriate to
each client's financial condition and objectives. Accordingly, the client should review both the
fees charged by the funds and our fees to fully understand the total amount of fees to be paid by
the client and to thereby evaluate the advisory services being provided.

Fees Related to Purchases of Options Contracts: Any transaction costs associated with the
use of options, including premiums paid to purchase options and any applicable commissions or
fees, will be charged by the client’s custodian or executing broker. These costs are separate from,
and in addition to, any advisory fees paid to us.

Additional Fees and Expenses: In addition to our advisory fees, clients are also responsible for
the fees and expenses charged by custodians and imposed by broker dealers, including, but not
limited to, any transaction charges imposed by a broker dealer with which an independent
investment manager effects transactions for the client's account(s). Please refer to the "Brokerage
Practices" section (Item 12) of this Form ADV for additional information.

Grandfathering of Minimum Account Requirements: Pre-existing advisory clients are subject
to Engleson & Associates, Inc.'s minimum account requirements and advisory fees in effect at
...

Item 7 Types of Clients
Engleson & Associates, Inc. provides advisory services to the following types of clients:

• Individuals (other than high net worth individuals)

• High net worth individuals

• Charitable organizations

• Corporations or other businesses not listed above