First American Asset Advisory LLC

Item 5.     Fees and Compensation

First American Asset Advisory offers investment management services for an annual fee based
on the amount of assets under the Firm’s management. Additionally, certain of the Firm’s
Supervised Persons, in their individual capacities, may offer securities brokerage services
and/or insurance products under a separate commission-based arrangement. Please refer to
the brokerage practices section and the affiliate information for additional information.

Investment Management Fees

First American Asset Advisory offers investment management services for an annual fee based
on assets under management.

The annual fee for investment management services generally ranges from approximately
0.50% to 2.75% of assets under management, depending on the nature of the services
provided, the size and complexity of the account, and other relevant factors.

Fees are fully negotiable and may vary based on a variety of factors, including, but not limited
to:

   •   the size of the account
   •   the scope of services provided
   •   anticipated future assets
   •   account composition
   •   related accounts
   •   pre-existing or legacy relationships
   •   overall client relationship

Fees may be structured as asset-based fees, flat fees, or other negotiated arrangements, as
agreed upon between the Firm and the client.

Certain existing client accounts may pay fees that are higher or lower than those currently
offered, as a result of legacy fee arrangements.

Billing Practices

The annual fee is prorated and charged quarterly, in advance, based upon the market value of
the assets being managed by First American Asset Advisory on the last day of the previous
billing period.

If assets are deposited into or withdrawn from an account during a billing period, the advisory
fee may be adjusted or prorated to reflect such changes. The timing and methodology of such
adjustments may vary based on the nature and timing of the transaction.

For the initial period of an engagement, the fee is calculated on a pro rata basis. In the event
the advisory agreement is terminated, the fee for the final billing period is prorated through the
effective date of the termination and the outstanding or unearned portion of the fee is charged
or refunded to the client, as appropriate.

Wrap Fee Programs and UNB Arrangements

First American Asset Advisory offers advisory services through programs made available by RBC
Clearing & Custody (“RBC”), including wrap fee programs and other advisory arrangements.

In wrap fee programs, clients pay a single asset-based fee for advisory services, and transaction
costs are generally not charged separately to the client, subject to certain exceptions described
in the applicable program disclosure documents.

In certain other arrangements, including those described as “unbundled” (“UNB”), clients also
may not incur transaction costs directly, as such costs are borne by First American Asset
Advisory and/or its supervised persons.

Because First American Asset Advisory or its supervised persons may bear transaction costs in
these arrangements, the Firm has a conflict of interest in that it may have an incentive to limit
trading activity in client accounts. The Firm seeks to mitigate this conflict through its fiduciary
duty and internal policies and procedures designed to ensure that all investment decisions are
made in the best interest of clients.

Clients should be aware that the total cost of participating in a wrap fee program or similar
arrangement may be higher or lower than the cost of purchasing advisory and brokerage
services separately, depending on factors such as account size, trading activity, and the specific
services utilized.

Additional Fees and Expenses

In addition to the advisory fees paid to First American Asset Advisory, clients may also incur
certain charges imposed by other third parties, such as broker-dealers, custodians, trust
companies, banks and other financial institutions (collectively “Financial Institutions”).

These additional charges may include securities brokerage commissions, transaction fees,
custodial fees, fees charged by Independent Managers, margin costs, charges imposed directly
by a mutual fund or ETF in a client’s account (e.g., fund management fees and other fund
expenses), deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and
electronic fund fees, and other fees and taxes on brokerage accounts and securities
transactions.

The applicability of these fees depends on the type of account and services selected by the
client.

First American Asset Advisory may receive compensation from third parties related to
investments you make in certain products, including mutual funds, ETFs, and other
investments.

Uninvested cash can be automatically placed into interest-bearing federally insured bank
accounts. First American Asset Advisory receives fees for your participation in these “cash
sweep” programs from the banks sponsoring the programs. The fees received are typically
higher than the interest earned by clients and are in addition to any fees paid to the Firm,
creating an incentive to maintain cash balances.

Additionally, the Firm may participate in the interest charged in margin accounts and other
lending arrangements made available by the clearing firm.

Third-Party Asset Managers

When First American Asset Advisory recommends or utilizes Independent Managers, clients
may pay fees to both First American Asset Advisory and the Independent Manager. These fees
are separate and in addition to one another unless otherwise disclosed.

A conflict of interest exists because the Firm has an incentive to recommend arrangements that
include Independent Managers, which may increase overall compensation to the Firm or its
supervised persons. The Firm seeks to address this conflict through its fiduciary duty and by
recommending such arrangements only when it believes they are in the client’s best interest.
...

Item 7.   Types of Clients

First American Asset Advisory offers services to individuals, corporations and business entities.

Minimum Account Requirements

First American Asset Advisory generally requires a minimum portfolio value of $250,000 for
starting and maintaining an investment management relationship; however, the Firm may
waive this requirement at its discretion.