Friday Financial Inc

Item 5 – Fees and Compensation

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

Friday Financial has contracted with Focus Partners Advisor Solutions (“FPAS”) for services including
trade processing, collection of management fees, record maintenance, report preparation, marketing
assistance, and research. Friday Financial has also contracted with FPAS for sub-advisory services with
respect to Clients’ accounts. Friday Financial pays a fee for FPAS’s services based on management fees
paid to Friday Financial on accounts which use FPAS. The fee paid by Friday Financial to FPAS consists of
a portion of the fee paid by Clients to Friday Financial and varies based on the total Client assets
administered and/or sub-advised by FPAS through Friday Financial. These fees are not separately
charged to advisory Clients. The fee charged by Friday Financial to its Clients includes all sub-advisory
fees charged by FPAS.

The specific manner in which fees are charged by Friday Financial is established in a Client’s written
agreement with Friday Financial. Investment Management Clients will be invoiced in advance at the
beginning of each calendar quarter based upon the value (market value based on independent third-
party sources or fair market value in the absence of market value; Client account balances on which
Friday Financial calculates fees may vary from account custodial statements based on independent
valuations and other accounting variances, including mechanisms for including accrued interest in
account statements) 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 account
transfer).

For Investment Management Services, Friday Financial 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 Friday Financial or its designated service provider, FPAS, to
withdraw fees from the account. Clients will receive custodial statements showing the advisory fees
debited from their account(s). Certain third-party administrators will calculate and debit Friday
Financial’s fee and remit such fee to Friday Financial.

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

refunded. The Client has the right to terminate an agreement without penalty within five (5) business days
after entering into the agreement.

Friday Financial’s fees are exclusive of brokerage commissions, transaction fees, and other related costs
and expenses which shall be incurred by the Client. Clients may incur certain charges imposed by
custodians, brokers, third party investment and other third parties such as fees charged by managers,
custodial fees, odd-lot differentials, transfer taxes, wire transfer and electronic fund fees, and other fees
and taxes on brokerage accounts and securities transactions. Mutual funds and exchange traded funds
also charge internal management fees, which are disclosed in a fund’s prospectus. These fees will
generally include a management fee and other fund expenses. All fees paid to Friday Financial for
investment advisory services are separate and distinct from the fees and expenses charged by mutual
funds and ETFs to their shareholders.

Such charges, fees and commissions are exclusive of and in addition to Friday Financial’s fee, and Friday
Financial shall not receive any portion of these commissions, fees, and costs.

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 $250,000                                    1.25%
              On the next $750,000*                                    1.00%
              On the next $1,000,000                                   0.90%
              On the next $3,000,000                                   0.70%
              On all amounts thereafter                                0.50%
              * Friday Financial’s minimum portfolio size is $250,000.

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.

Independent Manager Fees
As stated above in Item 4, Friday Financial (in coordination with the client) may decide to implement AQR
as an Independent Manager for the management of portfolios of individual securities. In these instances,
AQR will charge its own separate and distinct fee from Friday Financial’s advisory fees, which are noted
above. Clients grant AQR authority at the client’s custodian for AQR to directly debit client accounts for
AQR’s fee. Additionally, clients are required to sign an advisory agreement addendum with Friday
Financial which outlines these additional fees.

Employee Benefit Retirement Plan Services
The annual fee for plan services will be charged as a percentage of assets within the plan. Fees charged
range based on the Client’s needs, services, and assets managed. In no instance shall Friday Financial’s
fees exceed 1% per year, charged quarterly in advance. The specific fee charged will be explicitly laid out
in the Client’s agreement.

The 3(38) fiduciaries referenced above in Item 4 charge a separate and distinct fee for their services, as
laid out and agreed to in the Client agreement.

Item 7 – Types of Clients

Friday Financial provides services to individuals, high-net-worth individuals, trusts, estates, and
corporations. As stated above in Item 5, the minimum portfolio size for clients working with Friday
Financial is $250,000.