Genesee Capital Advisors LLC

Item 5 – Fees and Compensation

The following paragraphs detail the fee structure and compensation methodology for services provided by the
Advisor. Each Client engaging the Advisor for services described herein shall be required to enter into one or
more written agreements with the Advisor.

A. Fees for Advisory Services
Investment Management Services
Investment management fees are paid quarterly, in advance of each calendar quarter, pursuant to the terms of the
investment management agreement. Investment advisory fees are based on the market value of assets under
management at the end of the prior calendar quarter. Investment management fees range from 0.05% to 1.75%
annually based on several factors, including: the complexity of the services to be provided, the level of assets to be
managed, and the overall relationship with the Advisor. Relationships vary and some clients may be charged a
lower for higher fee based on the objectives, specific reporting requirements, portfolio restrictions and other
complexities.

The investment management fee in the first quarter of service is prorated from the inception date of the account[s]
to the end of the first quarter. Fees may be negotiable at the sole discretion of the Advisor. The Client’s fees will
take into consideration the aggregate assets under management with the Advisor. All securities held in accounts
managed by Genesee will be independently valued by the Custodian. The Advisor will conduct periodic reviews of
the Custodian’s valuation to ensure accurate billing.

The Advisor’s fee is exclusive of, and in addition to any applicable securities transaction and custody fees, and
other related costs and expenses as described in Item 5.C below, which may be incurred by the Client. However,
the Advisor shall not receive any portion of these commissions, fees, and costs.

                                             Genesee Capital Advisors, LLC
                                            46 South Street, Auburn, NY 13021
                                         Phone: 315-554-3020 * Fax: (315) 685-8164
                                             http://www.geneseeadvisors.com

Financial Planning Services
Genesee typically offers financial planning as a component of investment management services. When offered
separately, financial planning fees are either on an hourly or fixed fee basis. Hourly fees range from $200 to $400
per hour. Fixed fees range from $2,000 to $15,000 per engagement. Fees are negotiable based on the nature and
complexity of the services to be provided and the overall relationship with the Advisor. An estimate for total hours
and total costs will be provided to the Client prior to engaging for these services.

Retirement Plan Advisory Services
Fees are charged based on a fixed annual fee of up to 1.75% of plan assets under management. Retirement plan
advisory fees are payable either quarterly, in advance of each calendar quarter, or monthly, at the end of each
month.

B. Fee Billing
Investment Management Services
Investment management fees are calculated by the Advisor or its delegate and deducted from the Client’s
account[s] at the Custodian. The Advisor shall send an invoice to the Custodian indicating the amount of the fees to
be deducted from the Client’s account[s] at the beginning of the respective quarter. The amount due is calculated
by applying the quarterly rate (annual rate divided by 4) to the total assets under management with Genesee at the
end of the prior quarter. Clients will be provided with a statement, at least monthly, from the Custodian reflecting
deduction of the investment management fee. It is the responsibility of the Client to verify the accuracy of these fees
as listed on the Custodian’s brokerage statement as the Custodian does not assume this responsibility. Clients
provide written authorization permitting advisory fees to be deducted by Genesee directly from their account[s] held
by the Custodian as part of the investment management agreement and separate account forms provided by the
Custodian.

Financial Planning Services
Financial planning fees are invoiced by the Advisor upon completion of the agreed upon deliverable[s] and are due
upon receipt.

Retirement Plan Advisory Services
Retirement plan advisory fees may be directly invoiced to the Plan Sponsor or deducted from the assets of the
Plan, depending on the terms of the retirement plan advisory agreement.

C. Other Fees and Expenses
Clients may incur certain fees or charges imposed by third parties, other than Genesee, in connection with
investments made on behalf of the Client’s account[s]. The Client is responsible for all securities execution and
custody fees charged by the Custodian, if applicable. The Advisor's recommended Custodian does not charge
securities transaction fees for ETF and equity trades in Client accounts, but typically charges for mutual funds
and other types of investments. The fees charged by Genesee are separate and distinct from these custody and
execution fees.

In addition, all fees paid to Genesee for investment advisory services are separate and distinct from the
expenses charged by mutual funds and ETFs to their shareholders, if applicable. These fees and expenses are
described in each fund’s prospectus. These fees and expenses will generally be used to pay management fees
for the funds, other fund expenses, account administration (e.g., custody, brokerage and account reporting), and
a possible distribution fee. A Client may be able to invest in these products directly, without the services of
Genesee, but would not receive the services provided by Genesee which are designed, among other things, to
assist the Client in determining which products or services are most appropriate for each Client’s financial
situation and objectives. Accordingly, the Client should review both the fees charged by the fund[s] and the fees
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Item 7 – Types of Clients

Genesee offers investment advisory services to individuals, high net worth individuals, trusts, estates, retirement
plans, charitable organizations, corporations and other businesses. Genesee generally requires a minimum
account size for establishing a relationship of $250,000 to effectively implement its investment process which
may be reduced at the sole discretion of the Advisor.