Garden State Investment Advisory Services LLC

Item	5	–	Fees	and	Compensation
General Overview of Client Advisory Account Fees

Unless otherwise noted, the annual fee is negotiable between us and is payable monthly in arrears. The fees
are based on the market value of the account(s) on the last business (trading) day of the previous month.
The fee for portfolio management will be charged as an annual percentage of assets under management,
according to the schedule shown for each program. Fees are prorated for any billing period that is less than
a complete month, and the fee is adjusted proportionately based on the value of cash or securities added to
or withdrawn from the account between billing periods. Your account agreement with us authorizes us and
your account custodian to deduct fees from your managed account and pay the fees directly to us. If you
choose to close your account within the first year (twelve-month period), GSIAS will not assess a
termination fee.

                              Standard Fee Schedule
               Total Account Value            Total Annualized Fee
               $0 to $500,000                       2.00%
               $500,001 to $1,000,000               1.75%
               $1,000,001 to $2,000,000             1.50%
               $2,000,001 to $3,000,000             1.25%
               $3,000,001 and up                    1.00%

Fees are prorated for any billing period that is less than a complete month, and the fee is adjusted
proportionately based on the value of cash or securities added to or withdrawn from the account between
billing periods. If you close your account prior to the last day of the month, a pro-rata portion of the fees
paid, based upon the business days remaining in the month, will be charged to you for that month.

For clients whose assets are custodied at Axos, GSS, an affiliate of GSIAS, receives a fee from clients’
participation in the Insured Deposit Program (a cash sweep account called “the Program”). This fee
potentially reduces your return on amounts held in cash in this account. Further, this shared revenue from
Axos presents a conflict of interest, or financial incentive, when GSIAS or its representatives recommend
that clients utilize Axos as their clearing firm and custodian as opposed to Schwab or SIMC, with whom
there is no shared revenue arrangement for cash sweep programs. In order to mitigate this conflict of
interest, clients may choose to not participate in the Program by selecting an alternate cash account option
that is provided in the Axos account opening paperwork. Clients may also choose Schwab or SIMC as the
custodian for their account. The revenue received by GSS from Axos is not shared with GSIAS or GSIAS
investment advisor representatives. The cash sweep arrangement with Axos is also disclosed in the GSIAS
Advisor Agreement, the GSIAS Client Relationship Summary, and in the Important Information and
Disclosures Brochure which all clients receive on account opening and periodically thereafter.

Accounts held at SEI Private Trust Company (“SPTC”) are billed monthly in arrears. Our fee is
calculated based on End of Period Market Value using each account’s market value on the last day of the
fee period. Unless otherwise specified in the advisory agreement, GSIAS’ fees will be automatically
debited from the client’s investment account. All fees paid to GSIAS for advisory services are separate
and distinct from the fees and expenses charged by mutual funds to their shareholders, or those charged to
clients by product sponsors or by qualified custodians and sub-advisors. Qualified custodians, such as
SPTC, also charge our clients fees for their services. Fees charged by SPTC differ and their fees may be
higher or lower than those of other qualified custodians.

                                              Page | 8

General Overview of Third-Party Advisor Fees

All fees associated with “co-advisor” and “sub-advisor” relationships are disclosed in the agreements
between the client and the third-party advisors and between GSIAS and the client. There are no
additional fees assessed by GSIAS in connection with any of these relationships so that your total fee is
not increased as a result of these arrangements.

General Overview of Annuity Account Fees

Account fees are calculated and payable quarterly based on the value of the assets in the Annuity Account
(as determined by the insurance company in accordance with industry valuation standards) as of the last
business day of the preceding calendar quarter. The initial fee shall be calculated on the value of the
initial investment in the insurance product (valued as of the effective date of the Advisor Agreement) and
shall cover the initial quarter (or with respect to a partial quarter, pro-rated based on the number of
remaining days in such quarter.) Management fees are billed directly from GSIAS to you and must be
paid within 10 days of receipt. If the Agreement is terminated prior to the last day of a quarter, a prorated
portion, based upon the days remaining in such quarter, of the quarterly fee paid in advance will be
refunded to you. Additional charges by the insurance company are as set forth in the agreement between
you and the insurance company.

Financial Planning/Consulting Services Fees

Prospective clients have the opportunity to meet with an IAR for an initial consultation at no cost. If you
decide to retain us and an IAR for financial planning/consulting services, you must sign a client
agreement and must pay for such services either by hourly or flat fees as you and your IAR may mutually
agree. Financial planning/consulting fees are negotiable. Hourly fees will generally range from $100/hour
to $300/hour, and flat fees will generally range from $500 to $5,000 per agreement, depending on the
complexity of your investment goals and objectives, the amount of assets included under the plan and the
...

Item	7	–	Types	of	Clients
Our client base includes retail and institutional client services, including but not limited to providing
advice with respect to financial markets and securities transactions. Our clients primarily consist of
general retail clients as well as “high net worth” retail clients, small to mid-size institutional clients,
including foundations, limited liability companies, and pensions and profit-sharing plans. “High net
worth” retail clients are individuals or families with at least $750,000 under management with us.