First Advisors National LLC

FEES AND COMPENSATION (Item 5)
Advisory Fees
   We earn fees and compensation by providing financial advice and investment recommendations as follows:
   1. Investment Management Services
   Our fee schedule for investment management services is as follows:
                                     Max. Annual Advisory Fee                    Up to 1.85%
   As outlined above, our annual advisory fees for investment management services range to a maximum of 1.85% per
   client account. Our advisory fees are negotiable, and we retain the right to reduce advisory fees at our discretion.
   Please note that our advisory fee assessments exclude other applicable fees and expenses, including transaction fees,
   account maintenance fees, and administrative costs. For details regarding additional costs related to our advisory
   services, please review the Other Fees and Expenses section below.
   PLEASE NOTE: The Pontera platform has a subscription fee. Clients pay Pontera subscription or platform fees for the
   retirement savings accounts and assets we access through the platform.
   2. Retirement Plan Consulting Services
   Our retirement plan consulting services fees are assessed at an annual rate of up to 1%. The fees are based on a
   percentage of the market value of includable retirement plan assets. Our fees for retirement plan consulting services
   are negotiable.

Billing Procedures
   The billing procedures for each account custodian we utilize typically vary. Client advisory accounts held by account
   custodian, Folio Investments, Inc. d/b/a Goldman Sachs Custody Solutions (“Goldman Sachs”) are billed monthly or
   quarterly in advance. Moreover, client advisory accounts held by Goldman Sachs are not aggregated for billing
   purposes; each account is billed separately.
   Additionally, client advisory account(s) held by account custodian Charles Schwab & Co., Inc. (“Schwab”) are billed
   quarterly in arrears. More details regarding our billing procedures are as follows:
   1. Billing for Investment Management Services
   Advisory fees for investment management services for client accounts held at Goldman Sachs are due and payable
   monthly in advance at 1/12th of the annual rate or quarterly in advance at 25% of the annual rate. The advisory fee
   assessment is based on the value of each account on the last day of the previous month, as determined by the most
   recent quotation supplied by the account custodian, broker-dealer that processes the transactions, or third-party
   investment management platform(s).
   The value of individual securities in the account(s) is based on the last trading or closing price, as listed on a national
   securities exchange or the principal market where the securities are traded, as of the last day of the previous month or
   calendar quarter. Billing valuations for fixed income securities often include accrued interest. Margin interest, if any,
   will accrue monthly.
   If Schwab is the account custodian, advisory fees are assessed quarterly in arrears at the rate of 25% of the annual asset-
   based fee. The advisory fee assessment is based on a percentage of assets under management, calculated based on the
   account value supplied by the account custodian as of the end of an applicable quarter.
   Advisory fee calculations are transmitted electronically to the account custodian monthly or quarterly, based on the
   respective account custodian’s procedures. Advisory fees due for any period of less than one month or quarter shall be
   calculated pro rata. By agreement and a client’s written authorization, advisory fees are deducted directly from the
   client’s designated advisory account(s).
   PLEASE NOTE: There are separate billing procedures for retirement savings accounts or assets accessed through the
   Pontera platform. Please review the Pontera platform agreement and billing procedures for details.

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   2. Billing for Retirement Plan Consulting Services
   Fees for retirement plan consulting services are due and payable monthly or quarterly (based on the sponsor’s
   preference). Advisory fees are calculated based on a percentage of the market value of includable retirement plan
   assets. Plan sponsors generally provide written authorization for our advisory fees to be deducted directly from plan
   assets. The final fee, as agreed upon, is outlined in our consulting services agreement.

Other Fees & Expenses
   Clients will also incur additional fees and expenses related to the management of investments and advisory service
   provisions. As indicated, FAN Advisors utilizes the institutional services of Goldman Sachs and Schwab for custody,
   clearing, and brokerage services. Please review Item 12, Brokerage Practices, for more information regarding our
   account custodians.
   Clients who utilize Goldman Sachs as an account custodian will also incur an annual asset-based account maintenance
   fee of 0.10%, which is assessed for each advisory account. This fee is charged monthly and calculated based on the
   value of the assets in each account as of the last day of the preceding month. The maximum fee is $1,000 per account.
   In addition to the fees outlined above, clients incur other expenses that result from fees charged by mutual funds,
   exchange-traded funds, money market funds, investment companies, and other investment advisors to which a client’s
   assets are allocated. Although, as of the date of this Brochure, Schwab does not charge transaction fees for trades in
   U.S. exchange-listed equities and exchange-traded funds. Nonetheless, there are internal fees and expenses for mutual
   funds, exchange-traded funds, and money market funds, which are charged as detailed in the prospectus for each fund,
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TYPES OF CLIENTS (Item 7)
   We generally provide investment advice to individuals, corporations, and other businesses.
   We do not impose a minimum investment value to establish an account. Nonetheless, third-party money managers’
   platforms may set a minimum investment value that clients must meet.
METHODS OF ANALYSIS, INVESTMENT STRATEGIES, AND RISK OF LOSS (Item 8)
Methods of Analysis and Investment Strategies
   Clients engage our firm to manage all or a portion of their investment assets. Based on a client’s risk tolerance and
   investment objectives, among other factors, we recommend strategies that primarily encompass the use of various
   third-party money management platforms. We also recommend various individual securities (equities, fixed income
   securities, exchange-traded funds, mutual funds, and other asset classes) as a passive strategy to supplement the
   client’s stated asset allocation. These services are generally implemented pursuant to discretionary authority, but we
   will utilize non-discretionary authority upon a client’s request.
   We generally evaluate individual securities using fundamental analysis methods. Our primary sources of information
   include, but are not limited to, research materials prepared by others, inspections of corporate activities, financial
   publications, annual reports, prospectuses, and corporate press releases.
   Fundamental analysis consists of calculating financial ratios and reviewing industry cyclical trends in conjunction with
   monetary policy indicators to assess the performance and profitability of markets and companies.
   Our investment management services use passive strategies to achieve long-term growth objectives. Correspondingly,
   our investment strategies related to third-party money investment management platforms allocate client assets
   primarily among two general methodologies: tactical or strategic. The specific details regarding these strategies are as
   follows:
   A tactical asset allocation strategy is an active management strategy. This strategy adjusts the percentage of various
   asset classes, including the protection of cash or cash equivalents, in periods of heightened volatility to take advantage
   of market pricing anomalies or strong market sectors. This strategy allows portfolio managers to create extra value by
   taking advantage of certain situations in the marketplace. It is considered an active strategy since money managers
   rebalance the asset mix regularly, depending on their evaluation of market indicators, to participate in positive market
   returns and mitigate the impact of negative market returns. Money managers use various market activity indicators to

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   include fundamental, technical, and macroeconomic analysis in determining when and how to change the mix of asset
   classes or individual securities in a client’s account.
   Conversely, strategic asset allocation is a more passive management strategy. This strategy involves the periodic and
   often less frequent rebalancing of a somewhat set allocation of various asset classes to maintain a long-term goal for
   asset allocation based on a client’s risk tolerance, goals, and investment horizon. Since the value of assets can change
   given market conditions, the portfolio periodically needs to be adjusted to maintain the original long-term goal for asset
   allocation. Strategic asset allocation is an investment strategy that attempts to balance risk by diversifying among
   various asset classes to achieve the anticipated long-term performance of each respective asset class. As such, each
   asset will generally reflect the performance of that asset class while potentially achieving the anticipated long-term
   performance. This strategy may also reflect increased volatility depending on the actual performance of a given asset
   class.
   As a part of our method of analysis and due diligence, we review and evaluate a third-party money manager’s
   investment style or methodology, years in business, assets under management, regulatory status, and portfolio costs
   to ensure the money manager meets our initial selection requirements. We monitor the performance of third-party
   money management platforms to ensure that the portfolios continue to meet the performance and value criteria our
   firm used during the initial selection process.
Material Risks of Methods of Analysis and Investment Strategies
   Although we utilize conventional investment analysis methods and strategies, some material risks remain. We use
   fundamental analysis methods that measure the risk of companies by formulating assumptions based on historical
   financial representations. Although we use valid data sources, examine expense ratios, review return and risk ratings
   extensively, refer to economic indicators, and review the implications of monetary policy, our strategies are
   implemented due to assumptions derived from the analysis of historical data. The results of investment strategies
   derived from this method of analysis are not guaranteed, and the past performance of an investment does not indicate
   future financial returns.
   INVESTING IN SECURITIES INVOLVES A RISK OF LOSS THAT CLIENTS SHOULD BE PREPARED TO BEAR.
   Additionally, there remains some material risk in using various methods to evaluate third-party money managers’
   investment strategies. Clients should know that all securities and investment strategies carry various risks. While it is
   impossible to name all potential types of risks associated with specific analysis methodologies and strategies, some
   common risks are as follows:
   •   Risks specific to Third-party Money Managers. Investing clients’ assets with another investment advisor involves
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