Francis Financial Inc

Item 5 – Fees and Compensation
                            INVESTMENT SUPERVISORY SERVICES
                         INDIVIDUAL PORTFOLIO MANAGEMENT FEES

The annualized fee for Investment Supervisory Services and Portfolio Management will be charged
as a percentage of assets under management, according to the schedule below.

    Asset Range                                 Percent of Total Market Value

    Up to $3,000,000                                          1.00%

    $3,000,001 to $5,000,000                                  0.90%

    $5,000,001 to $10,000,000                                 0.80%

    $10,000,001 to $15,000,000                                0.70%

    $15,000,001 to $30,000,000                                0.60%

    Above $30,000,000                                         0.50%

Fees are calculated on a next plus basis. For example, a Client with $6,000,000 under management
would pay 1.00% on the first 3,000,000 and 0.90% on the next $2,000,000 and 0.8% on the next
$1,000,000.

Our fees are billed quarterly, 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. Fees are directly debited from client accounts by the applicable
custodian as authorized by the client.

A minimum of $2,000,000 of assets under management is usually required for this service. However,
this account size may be negotiable under certain circumstances. Francis Financial may group
certain related client accounts for the purposes of determining the annualized fee.

Asset Management via Institutional Intelligent PortfoliosTM: The fee for this service is a
minimum of $3,000 per annum. Client facts, circumstances and needs will be considered in
determining the fee schedule. Fees are charged on a quarterly basis, in advance. If either party
cancels the agreement, fees would be pro-rated through the date of cancellation, and any excess
advance payment would be refunded to the client.

Limited Negotiability of Advisory Fees: Although Francis Financial has established the fee
schedule above, we retain the discretion to negotiate alternative fees on a client-by-client basis.
Client facts, circumstances and needs will be considered in determining the fee schedule. These
include the complexity of the client’s situation, assets to be placed under management, anticipated
future additional assets; related accounts; portfolio style, account composition, and reports, among
other factors. The specific annual fee schedule will be identified in the contract between the adviser
and each client.

We may group certain related client accounts for the purposes of achieving the minimum account

size requirements and determining the annualized fee.

Discounts, not generally available to our advisory clients, may be offered to associated persons of
our firm, their family members and friends.

                          DIVORCE FINANCIAL PLANNING FEES (“DFP”)

For clients that engage us for divorce financial planning, our DFP services will be covered by a fee
of $10,000 for up to an aggregate total of 30 hours of DFP Services performed by all Francis
Financial personnel collectively. In the event Francis Financial renders any DFP Services to you in
excess of the Flat Fee DFP Services (i.e., in excess of an aggregate total of 30 hours), the cost will be
$400 per hour. Clients are expected to pay their fees for DFP no later than thirty (30) days
following receipt of our invoice.

If Francis Financial, Inc. is contacted or subpoenaed for deposition either as a fact witness or as a
financial expert (“Witness Services”), clients will be responsible for paying for preparation time,
expenses, and time for actual deposition and witness services at the hourly rate of $500. These
Witness Services are separate from the DFP Services, and the fees are not included in the flat fee of
$10,000. Clients also pay for out-of-pocket expenses such as, but not limited to, Federal Express or
other overnight delivery charges, reasonable travel/transport expenses, photocopy expenses, and
other out-of-pocket costs in connection with all Witness Services rendered.

                   ADDITIONAL FEES AND EXPENSES; OTHER INFORMATION

Termination of the Advisory Relationship: An advisory client will have a period of five (5) business
days from the date of signing the investment advisory agreement to unconditionally rescind the
agreement without penalty and receive a full refund of all fees. Thereafter, a client agreement may
be canceled at any time, by either party, for any reason upon receipt of written notice. As disclosed
above, certain fees are paid in advance of services provided. Upon termination of any account, any
prepaid, unearned fees will be promptly refunded. In calculating a client’s reimbursement of fees,
we will prorate the reimbursement according to the number of days remaining in the billing period
for an investment supervisory engagement. For divorce planning clients, the time spent since the
last invoice will be applied to any remaining amount of the retainer. Any portion of the retainer fee
remaining at the time of termination will be refunded to the client. Any fee owing at the time of
termination of the divorce planning engagement will become due and payable upon Francis
Financial’s invoice.

Mutual Fund and ETF Fees: All fees paid to Francis Financial for investment advisory services are
separate and distinct from the fees and expenses charged by mutual funds and/or ETFs 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 a mutual fund directly, without our services. In that case, the client would not receive
the services provided by our firm which are designed, among other things, to assist the client in
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Item 7 – Types of Clients
Francis Financial provides advisory services to the following types of clients:

•   Individuals (other than high net worth individuals)

•   High net worth individuals

As previously disclosed in Items 4 and 5, our firm has established certain initial minimum account
requirements, based on the nature of the service(s) being provided. For a more detailed

understanding of those requirements, please review the disclosures provided with regard to each
applicable service.

For Asset Management via Institutional Intelligent Portfolios,TM clients eligible to enroll include
individuals, IRAs, and revocable living trusts. Clients that are organizations (such as corporations
and partnerships) or government entities, and clients that are subject to the Employee Retirement
Income Security Act of 1974, are not eligible for the Program. The minimum investment required to
open an account in the Program is $5,000.