Garrett Wealth Advisory Group LLC

ITEM 5. FEES AND COMPENSATION
GWAG offers services on a fee-only basis, which may include fixed and/or hourly fees, as well as fees based
upon assets under management or advisement.

FINANCIAL PLANNING AND CONSULTING FEES
GWAG may charge a fixed and/or hourly fee for providing financial planning and consulting services under a

DISCLOSURE BROCHURE | Garrett Wealth Advisory Group, LLC                                                               6

stand-alone engagement. These fees are negotiable, but generally range from $500 to $20,000 on a fixed fee
basis and/or from $50 to $300 on an hourly basis, depending upon the scope and complexity of the services
and the professional rendering the financial planning and/or the consulting services. If the client engages the
Firm for additional investment advisory services, GWAG may offset all or a portion of its fees for those services
based upon the amount paid for the financial planning and/or consulting services.

The terms and conditions of the financial planning and/or consulting engagement are set forth in the
Advisory Agreement and GWAG generally requires one-half of the fee (estimated hourly or fixed) payable
upon execution of the Advisory Agreement. The outstanding balance is generally due upon delivery of the
financial plan or completion of the agreed upon services. The Firm does not, however, take receipt of $1,200
or more in prepaid fees in excess of six months in advance of services rendered.

INVESTMENT AND WEALTH MANAGEMENT FEES
GWAG offers investment management services for an annual fee based on the amount of total household
assets under the Firm’s management. This management fee generally varies in accordance with the
following fee schedule:

                        SWM II, FEE-BASED ANNUITIES/INSURANCE               ADVISORY FEE
                        ACCOUNT(S) BALANCE

                                       Less than $500,000                        1.35%

                                      $500,001 - $1,000,000                      1.25%

                                     $1,000,001 - $2,000,000                     1.15%

                                     $2,000,001 - $3,000,000                     1.00%

                                     $3,000,001 - $5,000,000                     0.85%

                                     $5,000,001 - $7,000,000                     0.75%

                                         Over $7,000,001                      Negotiable

                                 **GWP ACCOUNT(S) BALANCE                   ADVISORY FEE

                                           All Amounts                           0.85%

                                        $500,001 and over                     Negotiable

                                 ***MAS ACCOUNT(S) BALANCE                  ADVISORY FEE

                                      Greater than $100,000                      2.00%

Beginning in 2019, our custodian LPL Financial reduced and/or stopped charging transaction fees for certain
mutual funds and individual equities (including ETFs). As a result of LPL’s decision, the total transaction fees
paid by the Adviser under the Adviser’s Wrap Program decreased and GWAG did not alter its fee schedule
as a result of the change.

Client account type is designated by the executed advisory agreement and account opening paperwork. Our
SWM II accounts are wrapped portfolio services. Please see the Garrett Wealth Advisory Wrap brochure for
additional information. The annual fee is prorated and charged quarterly, in advance, based upon the market
value of the assets being managed by GWAG on the last day of the previous billing period. Fees are
negotiable, and the fee assessed to certain clients may be lower than that stated above based on criteria such
as size, complexity of needs, length of relationship, etc. If assets in excess of $100,000 are deposited into or
withdrawn from an account after the inception of a billing period, the fee payable with respect to such assets
is adjusted to reflect the interim change in portfolio value. For the initial period of an engagement, the fee is
DISCLOSURE BROCHURE | Garrett Wealth Advisory Group, LLC                                                           7

calculated on a pro rata basis. In the event the advisory agreement is terminated, the fee for the final billing
period is prorated through the effective date of the termination and the outstanding or unearned portion of
the fee is charged or refunded to the client, as appropriate.

Additionally, for asset management services the Firm provides with respect to certain client holdings (e.g.,
held-away assets, accommodation accounts, alternative investments, etc.), GWAG may negotiate a fee rate
that differs from the range set forth above. Where applicable for fee-based annuities or insurance products, each
carrier calculates and debits the advisory fee on a monthly basis in arrears depending on their method of fee
calculation.

FEES FOR LPL ADVISORY SPONSORED PROGRAMS
The account fee charged to the client for each LPL advisory program is negotiable, subject to the following:

                              ADVISORY PROGRAM                     MAXIMUM ACCOUNT FEE

                                         GWP                                  1.35%**

                                         MAS                                 2.5%***

Please Note: these fees constitute the maximum fee and is priced based on the client’s needs. The Firm
considers various factors and the totality of the circumstances of the relationship, including risk-return profile,
investment objectives, and the nature of the asset class, among other factors.

** GWP Managed Service clients are charged an account fee consisting of an LPL program fee of 0.35%
and an advisor fee of up to 1.00%. In the future, a strategist fee may apply. However, LPL Research currently
...

ITEM 7. TYPES OF CLIENTS
GWAG offers services to individuals, high net worth individuals, pension and profit-sharing plans, trusts,
estates, charitable organizations, corporations, and business entities.

MINIMUM ACCOUNT REQUIREMENTS
GWAG does not impose a stated minimum fee or minimum portfolio value for starting and maintaining an
investment management relationship. GWAG typically engages with clients with a minimum $1,000,000 of
investable assets or a minimum of $350,000 gross household income. GWAG has the authority to make
exceptions to these minimums under appropriate circumstances. Certain Independent Managers may
impose more restrictive account requirements and billing practices from the Firm. In these instances, GWAG
may alter its corresponding account requirements and/or billing practices to accommodate those of the
Independent Managers.

A minimum account value of $5,000 is required to enroll in the GWP Service. In certain instances, LPL will
permit a lower minimum account size.

A minimum account value of $100,000 is required for Manager Access Select, however, in certain instances,
the minimum account size may be lower or higher.