FR Financial Advisors LLC

Item 5 – Fees and Compensation

Investment Management Services

The annual fee for investment management services will be charged as a percentage of assets under
management, according to the schedule below:

       Assets Under Management                           Annual Fee (%)

         On the first $1,000,000                             1.00%

         On the next $1,000,000                              0.90%

         On the next $3,000,000                              0.70%

         On the next $5,000,000                              0.60%

         On the next $10,000,000                             0.50%

        On all amounts thereafter                            0.40%

Minimum Annual Fee: $3,000.00.

A minimum of $300,000 of assets under management is required for this service. All accounts for
members of the client's family (husband, wife and dependent children) or related businesses may be
assessed fees based on the total balance of all accounts.

Employee Benefit Retirement Plan Services

The annual fee for plan services will be charged as a percentage of assets within the plan. Typically, the
annual fee will be 75 percent of the above quoted fees for investment management services.

The fees for retirement plans engaging both FRFA and Focus Partners Advisor Solutions, LLC are as
follows:

The annual fee for plan services will be charged as a percentage of assets within the plan.

      Assets Under            Focus Partners        FRFA’s Annual Fee           Total Fee
       Advisement            Advisor Solutions,
                             LLC’s Annual Fee
 On the first $1,000,000          0.20%                   0.70%                  0.90%
 On the next $4,000,000           0.15%                   0.45%                  0.60%
 On the next $5,000,000           0.08%                   0.25%                  0.33%
 On all amounts above             0.05%                   0.15%                  0.20%
      $10,000,000

Financial Planning Services

FRFA's Financial Planning fee is determined based on the nature of the services being provided and the
complexity of each client’s circumstances. All fees are agreed upon prior to entering into a contract with
any client. Financial planning fees will be charged in one of two ways:

   1. On an hourly basis of $150 - $250 per hour depending on the nature and complexity of each
      client’s circumstances.

   2. As a fixed fee, typically ranging from $1,200 to $5,000, depending on the nature and complexity of
      each client’s circumstances and upon mutual agreement with the client.

Although the length of time it will take to provide a Financial Plan will depend on each client's personal
situation, FRFA will typically provide an estimate for the total cost at the start of the advisory
relationship.

FRFA may request a retainer upon completion of our initial fact-finding session with the client; however,
advance payment will never exceed $500 for work that will not be completed within six months. The
balance is due upon completion of the plan.

Consulting Services

FRFA’s consulting fees will be calculated based on a charge of $150 - $250 per hour. The length of time it
will take to complete the consulting service will depend on the nature and complexity of the individual
client's personal circumstances. An estimate for total hours will be determined at the start of the
advisory relationship.

Fees are due and payable upon completion of the consulting service. A retainer may be requested upon
completion of FRFA's fact-finding session with the client; however, advance payment will never exceed

$500 for work that will not be completed within six months. There is no minimum fee for consulting
services.

Additional Information

In certain circumstances, all fees, account minimums and their applications to family circumstances
may be negotiable.

FRFA has contracted with Focus Partners Advisor Solutions, LLC for services including trade processing,
collection of management fees, record maintenance, report preparation, marketing assistance, and
research. FRFA pays a fee for Focus Partners Advisor Solutions, LLC based on management fees paid to
FRFA on accounts that use Focus Partners Advisor Solutions, LLC. The fee paid by FRFA to Focus
Partners Advisor Solutions, LLC consists of a portion of the fee paid by clients to FRFA and varies based
on the total client assets participating in Focus Partners Advisor Solutions, LLC through FRFA. These fees
are not separately charged to advisory clients.

Clients will be invoiced in advance at the beginning of each calendar quarter based upon the value
(market value or fair market value in the absence of market value) of the client's account at the end of the
previous quarter. New accounts are charged a prorated fee for the remainder of the quarter in which the
account is incepted (date of first trade).

FRFA will request authority from the client to receive quarterly payments directly from the client's
account held by an independent custodian. Clients may provide written limited authorization to FRFA or
its designated service provider, Focus Partners Advisor Solutions, LLC, to withdraw fees from the
account.

A client agreement may be canceled at any time, by either party, for any reason upon receipt of 30 days
written notice. Upon termination of any account, any prepaid, unearned fees will be promptly refunded.

All fees paid to FRFA for investment advisory services are separate and distinct from the fees and
expenses charged by mutual funds to their shareholders. These fees and expenses are described in each
fund's prospectus. These fees will generally include a management fee, other fund expenses, and a
possible distribution fee. A client could invest in mutual funds directly, without the services of FRFA. In
that case, the client would not receive the services provided by FRFA which are designed, among other
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Item 7 – Types of Clients

FRFA manages investment portfolios for individuals, qualified retirement plans, trusts, and small
businesses.

FRFA requires a minimal annual fee of $3,000.00. FRFA requires a minimum account size of $300,000 for
Investment Management Services. A minimum of $500,000 is generally required for management
services of portfolios of individual fixed income securities. These account size minimums may be
negotiable under certain circumstances.