Griffin Black LLC

Fees and Compensation

Fees for planning-related services vary by scope, complexity, and geography as described below.

Holistic Wealth Management. Holistic Wealth Management fees are set based on the scope and
complexity of each client’s overall financial situation, as approximated by (1) the client’s age, and (2) the
client’s total available investable assets, as described below.

Griffin Black does not have a minimum managed portfolio size requirement for Holistic Wealth
Management clients. Instead, each client’s fee is based on their total available investable assets1, subject
to certain minimums. Total available investable assets include (1) investment assets currently managed by
Griffin Black, and (2) investment assets that Griffin Black could manage but that the client chooses to self-
manage or to have a third party manage. The latter includes retirement accounts from whose sponsor
organization the client as already separated from service, and which are no longer required to be held
under that organization’s control. Under certain circumstances, available investable assets may also
include cash holdings, assuming that the cash would normally be invested per the client’s financial plan. If
cash amounts are included, the amount will be discussed and agreed upon in advance with the client.

The following annual rates apply to available investment assets:
                   1.00% of the first $1,000,000, plus
                   0.80% of the next $2,000,000, plus
                   0.60% of the next $3,000,000, plus
                   0.40% of the remaining amount.

The portion of the fee that is based on Griffin Black-held assets will be calculated dynamically, based on
their average daily balance.

Whatever their total available investment assets may be, clients are subject to minimum annual fees, by
age, as follows:

Age                          Minimum Annual Fee for Holistic Wealth Management
20 – 29 years                $3,000
30 – 39 years                $4,000
40 – 49 years                $5,000
50 – 59 years                $7,500
60 years+                    $10,000
At the beginning of each engagement, Griffin Black will generally charge a flat, one-time set-up fee,
ranging from $1,500 to $5,000. The amount will be specified in the agreement.

Fees may be negotiated where unusual circumstances apply.

  Griffin Black’s Holistic Wealth Management engagement grows both in scope and complexity with the client’s
wealth, our goal is to base our fee on a measure of the client’s wealth that is both relevant and fair. We believe that
basing our fee on total available investable assets (TAIA) has several practical advantages. Though TAIA may
understate the work we do in servicing certain clients – such as younger clients and those who wish to invest in real
property before building a portfolio – it is client-friendly in that it generally relieves clients of cash-flow constraints and
assures that our fees remain affordable over the client’s lifetime.

Holistic Wealth Management Fee Schedule – International & Cross-Border Clients
For International and Cross Border Clients, the following annual rates apply based on total available US-
based investable assets:
        1.50% of the first $500,000, plus
        1.25% of the next $1,500,000, plus
        1.00% of the next $3,000,000, plus
        0.80% of the remaining amount.
These fees are subject to change over time and clients agree to pay the rates currently in effect.

Whatever their total available investment assets may be, clients are subject to minimum annual fees, by
age, as follows:
Age Minimum Annual Fee for International Holistic Wealth Management
20 – 29 years                       $4,000
30 – 39 years                       $5,000
40 – 49 years                       $6,500
50 – 59 years                       $8,500
60 years+                           $10,000
Fees may be negotiated where unusual circumstances apply.

Pathfinder Services
Griffin Black’s Pathfinder program provides participants with a package of support services designed to
help them grow their wealth sufficiently over a specified period of time in order to qualify for our
Holistic Wealth Management services. Participants will receive a financial plan, an investment policy and
the implementation of an investment portfolio.
The Pathfinder program requires an initial project fee of $2,500. Ongoing fees for Pathfinder
participants are calculated as 1.25% of the participants assets under management until the age-based
minimum for our Holistic Wealth Management services has been reached.
In order to be eligible for the Pathfinder Program, clients need to have (1) a minimum amount of
investment assets, and (2) commit to contributing a minimum amount to their portfolio, either monthly
or annually. Those minimums and commitments are as follows:

                                 Initial  Minimum ANNUAL
            Age             Min Investment Commitment
        20 – 29 years        $150,000          $36,000
        30 – 34 years        $150,000          $45,000
        35 – 39 years        $200,000          $45,000
        40 – 44 years        $300,000          $45,000
        45 – 49 years        $375,000          $45,000

                                  Initial  Minimum MONTHLY
            Age              Min Investment Commitment
        20 – 29 years         $250,000          $1,000
        30 – 34 years         $250,000          $1,750
        35 – 39 years         $270,000          $2,000
        40 – 44 years         $350,000          $2,000
        45 – 49 years         $400,000          $3,500

Investment Management. Griffin Black’s standalone Investment Management Service is meant to
address the needs of sophisticated investors who either do not need – or do not wish to engage in – a
holistic wealth management relationship with Griffin Black.

The service is priced strictly on the basis of investment assets under management, as follows:
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