Graves Light Lenhart Wealth Inc

Item 5. Fees and Compensation
     GLL charges fees based upon the amount of assets under management. Additionally, certain of
     GLL’s Supervised Persons, in their individual capacities, offer insurance products under a
     separate commission-based arrangement.

     Wealth Management Fees

     GLL offers investment management services for an annual fee based on the amount of assets
     under GLL’s management based on the following fee schedule:

                 PORTFOLIO VALUE                                           BASE FEE
                    Up to $1,000,000                                         0.90%
                 $1,000,001 - $2,500,000                                     0.75%
                $2,500,001 - $12,500,000                                     0.50%
                   Above $12,500,000                                         0.35%

     The annual fee is based on a tiered system. All clients pay 0.90% on the first $1,000,000 and
     0.75% on the next $1,500,00,000 and so on. For example, if a client had $2,500,000 invested
     with GLL, the blended rate would be 0.81%.
     The annual fee is prorated and charged quarterly, in advance, based upon the market value of the
     assets being managed by GLL on the last day of the previous billing period. If assets in excess
     of $50,000 of the existing portfolio value are deposited into or withdrawn from an account after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.
     Additionally, for asset management services GLL provides with respect to certain client holdings
     (e.g., held-away assets, accommodation accounts, alternative investments, etc.), GLL may
     negotiate a fee rate that differs from the range set forth above. Clients are advised that a conflict
     of interest exists for GLL to recommend that clients engage GLL for additional services for
     compensation, including rolling over retirement accounts or moving other assets to GLL’s
     management. Clients retain absolute discretion over all decisions regarding engaging GLL and
     are under no obligation to act upon any of the recommendations.

     For the initial period of an engagement, the fee is 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.

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Disclosure Brochure

     Retirement Plan Consulting Fees

     In those situations where GLL has agreed to manage a plan’s assets, GLL charges an annual
     asset-based fee between 25 and 90 basis points (0.25% – 0.90%), depending upon the amount of
     assets to be managed.

     Fee Discretion

     GLL may, in its sole discretion, negotiate to charge a lesser fee based upon certain criteria, such
     as anticipated future earning capacity, anticipated future additional assets, dollar amount of
     assets to be managed, related accounts, account composition, pre-existing/legacy client
     relationship, account retention and pro bono activities.

     Additional Fees and Expenses

     In addition to the advisory fees paid to GLL, clients also incur certain charges imposed by other
     third parties, such as broker-dealers, custodians, trust companies, banks and other financial
     institutions (collectively “Financial Institutions”). These additional charges include securities
     brokerage commissions, mark-ups and mark-downs on fixed income transactions, other
     transaction fees, custodial fees, reporting charges, margin costs, charges imposed directly by a
     mutual fund or ETF in a client’s account, as disclosed in the fund’s prospectus (e.g., fund
     management fees and other fund expenses), deferred sales charges, odd-lot differentials, transfer
     taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage accounts and
     securities transactions. GLL’s brokerage practices are described at length in Item 12, below.

     Direct Fee Debit

     Clients provide GLL with the authority to directly debit their accounts for payment of the
     investment advisory fees. The Financial Institutions that act as the qualified custodian for client
     accounts, from which GLL retains the authority to directly deduct fees, have agreed to send
     statements to clients not less than quarterly detailing all account transactions, including any
     amounts paid to GLL. Alternatively, clients may elect to have GLL send a separate invoice for
     direct payment.

     Use of Margin

     In limited circumstances, GLL will be authorized to use margin in the management of the
     client’s investment portfolio. In these cases, the fee payable will be assessed gross of margin

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Disclosure Brochure

     such that the market value of the client’s account and corresponding fee payable by the client to
     GLL will be increased. Where investment management fees are assessed gross of margin, a
     conflict of interest exists as GLL has an incentive to use margin to increase its fees.

     Account Additions and Withdrawals

     Clients can make additions to and withdrawals from their account at any time, subject to GLL’s
     right to terminate an account. Additions can be in cash or securities provided that GLL reserves
     the right to liquidate any transferred securities or decline to accept particular securities into a
     client’s account. Clients can withdraw account assets on notice to GLL, subject to the usual and
     customary securities settlement procedures. However, GLL designs its portfolios as long-term
     investments, and the withdrawal of assets may impair the achievement of a client’s investment
...

Item 7. Types of Clients
     GLL offers services to individuals, pension and profit-sharing plans, trusts, estates, charitable
     organizations, corporations, and business entities.

     Minimum Account Value

     As a condition for starting and maintaining an investment management relationship, GLL
     imposes a minimum portfolio value of $2,500,000. GLL may, in its sole discretion, accept
     clients with smaller portfolios based upon certain criteria, including anticipated future earning
     capacity, anticipated future additional assets, dollar amount of assets to be managed, related
     accounts, account composition, pre-existing client, account retention, and pro bono activities.
     GLL only accepts clients with less than the minimum portfolio size if GLL determines the
     smaller portfolio size will not cause a substantial increase of investment risk beyond the client’s

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Disclosure Brochure

     identified risk tolerance. GLL may aggregate the portfolios of family members to meet the
     minimum portfolio size.