Griffith & Werner Inc

FEES & COMPENSATION
Portfolio Management Fee
Our compensation is a transparent, asset-based management fee. We do not
charge commissions on securities transactions, and because we build portfolios
using primarily individual securities rather than fund structures, your portfolio
avoids the additional expense layers — such as fund management fees, 12b-1 fees,
and other embedded costs — that are common in fund-based approaches.
Portfolio management is provided on an asset-based fee arrangement. Regardless of the
portfolio account size, our management fee will not exceed 1.5% annually. The fee will be
calculated monthly by multiplying the aggregate fair market value of your account on the last
trading day of the prior calendar month by one-twelfth (1/12th) of the annual percentage rate
(i.e., 1.35% ÷ 12 = 0.1125%).
We generally require a minimum initial investment of $500,000 to open a managed account;
however, we retain the right to waive or reduce this minimum if we feel circumstances are
warranted.

Protocols for Portfolio Management
The following protocols establish how we handle our portfolio management accounts and what
you should expect when it comes to: (i) managing your account; (ii) your bill for investment
services; (iii) deposits and withdrawing funds from your account(s); and (iv) other fees charged
to your account(s).

Discretion
Unless you request otherwise, we will establish discretionary trading authority on all
management accounts to execute securities transactions at any time without your prior consent
or advice.
At any time however, you may impose restrictions, in writing, on our discretionary authority
(i.e., limit the types/amounts of particular securities purchased for your account, etc.).

Billing
Your account will be billed monthly in arrears based on the aggregate, fair market value of
your portfolio. For new managed accounts opened in the middle of the month, our fee will be
based on a pro-rata calculation of the fair market value of your assets managed for the monthly
period. We do not make partial refunds of our monthly fee for asset withdrawals you make
during a calendar month.
Advisory fees will be deducted first from any money market funds or cash balances. If such
assets are insufficient to satisfy payment of such fees, a portion of the account assets will be
liquidated to cover the fees.

Fee Exclusions

Form ADV: Part 2A                                                        Griffith & Werner, Inc. | Page 8

     Griffith & Werner, Inc.                                                     Disclosure Brochure

The above fees for all of our portfolio management services are exclusive of any charges imposed
by the custodial firm who has custody of your account; including, but not limited to: (i) any
Exchange/SEC fees; (ii) certain transfer taxes; (iii) service or account charges, such as,
postage/handling fees, electronic fund and wire transfer fees, auction fees, debit balances,
margin interest, certain odd-lot differentials and mutual fund short-term redemption fees; and
(iv) brokerage and execution costs associated with securities held in your managed account.
There can also be other fees charged to your account that are unaffiliated with our management
services.
In the event that mutual fund or ETF positions are held in your managed account, all fees paid
to us for portfolio management services are separate from any fees and expenses charged on
such fund shares by the Investment Company or by the investment advisor managing those fund
portfolios. These expenses generally include management fees and various fund expenses, such
as 12b-1 fees. A complete explanation of these expenses charged by any mutual funds/ETFs is
contained in each fund’s prospectus. You are encouraged to carefully read the fund prospectus.
For more information on the custodial firm that we will recommend to custody your portfolio
accounts, see Item 12, “Brokerage Practices.”

Termination of Portfolio Management Services
To terminate our portfolio management services, either party (you or us) by written
notification to the other party, may terminate the Investment Advisory Agreement at any
time, provided such written notification is received at least 15 days prior to the date of
termination (i.e., to terminate services on October 1st, a request for termination should be
received in our office by September 15th). Such notification should include the date the
termination will go into effect along with any final instructions on the account (i.e., liquidate the
account, finalize all transactions and/or cease all investment activity).
You will only be able to terminate our advisory services on the last/first day of a
calendar month. We will perform one final monthly billing prior to releasing your
account. Once the termination of investment advisory services has been implemented,
neither party has any obligation to the other — we no longer earn management fees or
give investment advice and you become responsible for making your own investment decisions.

Portfolio Monitoring Fee
Under the arrangements with the Portfolio Managers, we are not involved in the day-to-day
management of your portfolio assets. Our responsibility to the Portfolio Manager(s) will be to
ensure you meet their minimum qualifications. Once your account has been established, we will
provide all administrative and clerical duties as may be required to service your account. The
Portfolio Manager(s) may have little or no direct contact with you.
Our responsibility to you will be to continuously evaluate the performance of your portfolio
to ensure the Portfolio Manager adheres to your asset allocation guidelines, as outlined in your
IPS, and will make recommendations to you regarding the Portfolio Manager as market factors
and your personal goals dictate.

Portfolio Managers Fee Structure

Form ADV: Part 2A                                                        Griffith & Werner, Inc. | Page 9
...

TYPES OF CLIENTS
The types of clients we offer advisory services to are described above under “Who We Are” in
Item 4, the “Advisory Business” section. Our minimum account size for portfolio management is
disclosed above under “Portfolio Management Fee” in Item 5 above in the “Fees &
Compensation” section of this Brochure.