First Step Wealth Planning LLC

Item 5: Fees and Compensation
Please note, unless a client has received this brochure at least 48 hours prior to signing a Client Agreement
(collectively, “Client Contract”), the Client Contract may be terminated by the Client within five (5) business days
of signing the Client Contract without incurring any fees. How we are paid depends on the type of services we
perform. Below is a brief description of our fees, however, you should review your executed Client Contract for
more detailed information regarding the exact fees you will be paying.

Comprehensive Wealth Planning Services
Our standard advisory fee for Comprehensive Wealth Planning services is a fixed fee based on a Client’s assets
under our management at the inception of the engagement. The annualized fee is based on the following fee
schedule:
                      Assets Under Management                       Annual Advisory Fee
                              $0 - $3,000,000                               $12,000
                         $3,000,001 - $5,000,000                       $20,000 - $30,000
                          $5,000,001 and Above                         $30,000 - $40,000

The annual advisory fee is paid monthly in advance or arrears and is prorated based on the amount of days
remaining in the billing period. The fee range is primarily dependent upon variables, including but not limited to,
the specific needs of the Client, complexity, estimated time, research, and resources required to provide services,
among other factors we deem relevant. The Client’s advisory fee will be recalculated on an annual basis based on
assets under our management. Any changes in fees will be provided to the Client in writing prior to the next billing
cycle. No increase in the annual fee shall be effective without agreement from the Client by signing a new
Advisory Contract or amendment to their current Advisory Contract. For complex Client situations, we may
charge an additional complexity fee not to exceed a total advisory fee of $40,000. Fees are negotiable at the sole
discretion of FSWP and the final agreed upon fee will be outlined in your Advisory Contract.

When FSWP utilizes an Outside Manager, the above fee does not include the Outside Manager’s fee. The Outside
Manager’s advisory fees, billing schedule, and payment procedures are set forth in their separate written disclosure
documents, advisory agreements, and/or the account opening documents of your account Custodian.

For the initial financial plan, the work will commence immediately after the first month’s fee is paid and will be
completed and provided to the Client within the first 90 days of the date the fee is paid. During this time a
sequence of meetings between the Client and FSWP will occur to ensure consistency with the Client’s goals and
the financial plan.
The Advisory Contract may be terminated with written notice 30 calendar days in advance. For fees paid in
advance, a prorated refund will be provided to the Client based on the amount of time remaining in the billing
period. There is no written notice required to terminate an account. Upon termination of the account, any unearned
fee will be refunded to the Client. The Client will be responsible for payment of fees up to the date of termination.
Fees for this service may be paid by direct fee deduction from one or more account(s) held at an unaffiliated
third-party custodian, as directed by the Client. Please refer to Item 15 of this Brochure regarding our policy on
direct fee deduction. Clients may also pay by electronic funds transfer, credit card, or check. We use an
independent third party payment processor in which the Client can securely input their payment information to pay
their fee. We do not have access to the Client’s banking or credit information at any time. The Client will be
provided with their own secure portal in order to make payments.

Project Based Financial Planning Fixed Fee
Stand-alone project-based financial planning will generally be offered separately from our comprehensive wealth
planning services and is based on a fixed fee. The fixed fee will be agreed upon before the start of any work. The
fixed fee can range between $4,400 and $10,000. The fixed fee is dependent upon variables including the specific
needs of the Client, complexity, estimated time, research, and resources required to provide services to the Client,
among other factors we deem relevant. Fees are negotiable, at the sole discretion of FSWP, and the final agreed
upon fee will be outlined in the Client’s Advisory Contract. FSWP may request a portion of the fee be collected in
advance with the remainder due upon completion of the services. FSWP will not bill an amount above $1,200 6
months or more in advance of rendering the services.
Project Based Financial Planning services are not an ongoing engagement, thus upon receipt of the final fees, the
Advisory Contract will automatically be terminated. Clients may terminate at any time by providing written
notice. If fees are paid in advance, a prorated refund will be given, if applicable, upon termination of the Advisory
Contract for any unearned fee. For fees paid in arrears, the Client shall be charged a pro-rata fee based upon the
percentage of the work done up to the date of termination.
Fees for this service are paid by electronic funds transfer (EFT), credit card, or check. We use an independent third
party payment processor in which the Client can securely input their banking information and pay their fee. We do
not have access to the Client’s banking information at any time. The Client will be provided with their own secure
portal in order to make payments.

Other Types of Fees and Expenses
Our fees are exclusive of brokerage commissions, transaction fees, and other related costs and expenses which may
be incurred by the Client. Clients may incur certain charges imposed by custodians, brokers, and other third parties
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Item 7: Types of Clients

We provide financial planning and investment management services to individuals and high net-worth

individuals. We do not have a minimum account size requirement.