Federal PREP Advisors Inc

Item 5: Fees and Compensation
Portfolio Management Services
FPAI’s charges an annual, asset-based fee for its Portfolio Management services. The annual fee rate generally is 1.00%
but may differ based on each individual client’s needs and service complexity. Annual fees are billed/collected in arrears
and may be collected on a monthly or quarterly basis depending on the client’s custodian. FPAI uses an average of the
daily balance in the client's account throughout the billing period, after taking into account deposits and withdrawals, for
purposes of determining the market value of the assets upon which the advisory fee is based. Fees are generally
negotiable and the final fee schedule is included as part of the Investment Advisory Contract. A Client’s initial bill will
be prorated based on the date the Investment Advisory Contract is executed. Clients may terminate the Investment
Advisory Contract without penalty for a full refund of FPAI's fees within five business days of signing the Investment
Advisory Contract. Thereafter, clients may terminate the Investment Advisory Contract immediately upon written notice.
If an Investment Advisory Contract is terminated during a billing period, FPAI will assess a prorated fee for the final
billing period based on the applicable termination date.

Selection of Other Advisers
FPAI may direct clients to use third-party investment advisers. FPAI will receive its standard Portfolio Management fee in
addition to the fee paid by the client to the third-party adviser. FPAI’s fees are negotiable and will not exceed any limit
imposed by any regulatory agency. The notice of termination requirement and payment of fees for third-party investment
advisers will depend on the specific third-party adviser selected.

FPAI may specifically direct clients to Orion Portfolio Solutions. The annual, anticipated fee schedule is as follows:

 Total Asset          FPAI’s Fee           Advisory              Third-Party         Third-Party          Total Fee to
 Value                                     Platform Fee          Adviser Fee         Expense Ratio        Client
 Any value            1.00%                Up to 0.45%           Up to 0.55%         Up to 1.2%           Up to 3.05%

The third-party fees vary based on the specific other investment adviser(s) selected through Orion Portfolio Solutions
platform. Fees related to any wrap ee programs selected by a client will be detailed in the wrap brochure offered by the
sponsor/manager of the wrap fee program.

Payment of Portfolio Management Fees and Fees for the Selection of Other Advisers
Asset-based portfolio management fees are withdrawn directly from the client's accounts with client's written
authorization on either a monthly or quarterly basis. Fees are charged in arrears. FPAI does not charge fees in advance.

Client Responsibility For Other Third Party Fees
Clients are responsible for the payment of all third-party fees (i.e. custodian fees, brokerage fees, mutual fund fees,
transaction fees, etc.) other than the third-party advisory fees described above. Those fees are separate and distinct from
the fees and expenses charged by FPAI. Please see Item 12 of this brochure regarding broker-dealer/custodian
considerations.

Outside Compensation for the Sale of Securities or Other Investments/Products to Clients
Supervised persons of FPAI may receive compensation from the sale of annuities and insurance products as licensed
insurance agents. This practice, which is customary in the industry, presents a conflict of interest in that our Supervised
Persons may be encouraged to recommend certain products that result in additional, transaction-based compensation to
them. Clients are not obligated to purchase such products from/through our Supervised Persons. FPAI’s advisory fees
generally are not reduced as a result of any additional, transaction-based compensation described in this section. See Item
10 for additional details.

FPAI periodically reviews recommendations by its Supervised Persons to assess whether they are based on an objective
evaluation of each client’s risk profile and investment objectives rather than on the receipt of any commissions or other
benefits.

FPAI will disclose in advance how it or its Supervised Persons are compensated and will disclose conflicts of interest
involving any advice or service provided. At no time will there be tying between business practices and/or services (a
condition where a client or prospective client would be required to accept one product or service conditioned upon the
selection of a second, distinctive tied product or service). No client is ever under any obligation to purchase any insurance
product. Insurance products recommended by FPAI’s Supervised Persons may also be available from other providers on
more favorable terms, and clients can purchase insurance products recommended through other unaffiliated insurance
agencies.

You are encouraged to ask questions about this sort of compensation at any time.

Item 7: Types of Clients
FPAI generally provides advisory services to the following types of clients:

    •   Individuals
    •   High-Net-Worth Individuals

There is no minimum account size for any of FPAI’s services.