Financial Advocates Investment Management

ITEM 5. FEES AND COMPENSATION

The following describes our fees so you will know how much you are charged and by whom for the advisory services we
provide to you. Our fees are negotiable. Factors that may impact what we charge clients include, but may not be limited
to:

    •    Scope of services rendered
    •    Complexity
    •    Amount of assets managed or advised
    •    Number of plans / relationships with the client
    •    Number of participants or accounts
    •    Location of participants or accounts
    •    Number of meetings required

FAIM will not charge any fee that is not disclosed in this section of our Brochure. Fees are exclusive of brokerage
commissions, transactions fees and other related cost and expenses (unless participating in our Wrap Fee program, see Item
4 Wrap Fees). Such expenses will be assessed to the client. Clients may incur certain charges imposed by custodians,

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brokers, and third-party managers or other third parties that FAIM does not control. These charges can include such things
as deferred sales charges, transfer taxes, wire transfer and electronic fund fees, brokerage account fees, and other fees,
charges or taxes. For further information related to our brokerage practices, please refer to Item 12.

We charge on-going fees based on a percentage of assets under management, on an hourly basis, or on a flat fee basis.
Depending on the wishes and needs of the client, we may provide different investment advisory services and charge the
client in multiple ways; our fees will always be detailed in the signed written agreement between the client and FAIM. The
circumstances and details of each of these options are described in this section of our Brochure.

Upon engagement, the client has five (5) business days to terminate the contract and receive a full refund of any fees
collected in advance without penalty.

In the event that you wish to terminate our services in the future, we will refund the unearned portion of our fee to you.
You need to contact us in writing and state that you wish to terminate our services. Upon receipt of your notice of
termination, we will proceed to close out your engagement and process a pro-rata refund of unearned fees.

The total estimated fee, as well as the ultimate fee that we charge you, is based on the scope and complexity of our
engagement with you.

We may pay compensation to third party money managers for services rendered to our clients and our firm. This
compensation is typically equal to a percentage of the overall investment advisory fee charged by our firm or an agreed upon
fixed fee. The advisory fee paid to third party money managers shall be negotiable in certain circumstances, but shall never
exceed the overall amount in our published fee statement. We usually pay 25% to 50% of the overall advisory fee to third
party money managers for their services.

Fees for Asset Management
For Asset Management services, our fees are generally billed on a pro-rata annualized basis quarterly in advance based on
the value of your account on the last day of the previous quarter. Fees will generally be automatically deducted from your
managed account, although we may agree to bill a client directly on an exceptional basis for Asset Management services.

The following schedule is a guideline only, subject to a maximum annual percentage fee of 2%; all fees and account value
levels are subject to negotiation at the sole discretion of the IAR.

                 Level of Assets Under Management (AUM)                 Annual Fee Charged On All AUM
                       Over                  Up To                              Percentage (%)
                $0                   $500,000                                       2.00%
                $500,000             $1,000,000                                     1.75%
                $1,000,000           $3,000,000                                     1.50%
                $3,000,000           $10,000,000                                    1.00%
                $10,000,000                                                         0.50%

Fees for GWP Managed Service Clients
GWP Managed Service clients are charged an account fee consisting of an LPL program fee of 0.35% and a FAIM fee of up to
1.00%. In the future, a strategist fee may apply. However, LPL Research currently serves as the sole portfolio strategist and

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does not charge a fee for its services. FutureAdvisor is compensated directly by LPL for its services, including the Algorithm
and related software, through an annual sub-advisory fee (tiered based on assets under management by FutureAdvisor, at a
rate ranging from 0.10% to 0.17%). As each asset tier is reached, LPL’s share of the compensation shall increase and clients
will not benefit from such asset tiers.

GWP Educational Tool provides access to sample recommendations at no charge to users. However, if users decide to
implement sample recommendations by executing trades, they will be charged fees, commissions, or expenses by the
applicable broker or adviser, as well as underlying investment fees and expenses. Account fees are payable quarterly in
advance, except that the SMS fee is paid in arrears on the frequency agreed to between client and Advisor.

The account fee may be higher than the fees charged by other investment advisors for similar services. For instance,
...

ITEM 7. TYPES OF CLIENTS AND ACCOUNT REQUIREMENTS

We provide investment advisory services to different types of clients, including:
    •    Individuals and High Net Worth Individuals
    •    Trusts, Estates or Charitable Organizations
    •    Pension and Profit Sharing Plans
    •    Corporations, limited liability companies and other business types

Our account requirements are:

    •    When opening or maintaining an account with us, or otherwise engaging us for investment advisory services, we
         have certain account and/or fee minimums, which include LPL-sponsored programs that require a minimum account
         balance (see details in the LPL wrap fee brochure for the specific program).

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    •    We generally charge a minimum fee of $250 for written financial plans.
    •    We do not require a minimum asset amount for retirement plan consulting services.
    •    We do not require a minimum account balance for asset management services.
    •    We do not charge a minimum fee for asset management services.

We provide our Investment Fiduciary & Retirement Plan Consulting services only to clients that are sponsors or other
fiduciaries to retirement plans or to participants of those plans. This includes 401(k), 457(b), 403(b) and 401(a) plans; plans
may be participant-directed defined contribution plans or defined benefit plans; plans may or may not be subject to ERISA.