Gudorf Financial Group 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 a written
agreement with the Advisor.

A. Fees for Advisory Services
Wealth Management Services
Wealth management fees are paid in arrears of each month, pursuant to the terms of the wealth management
agreement. Wealth management fees are based on the market value of assets under management at the end of the
month. Wealth management fees are based on the following linear, tiered schedule:

                                Assets Under Management ($)                Annual Rate (%)
                                       Up to $500,000                          1.50%
                                   $500,001 to $1,000,000                      1.35%
                                  $1,000,001 to $3,000,000                     1.00%
                                  $3,000,001 to $5,000,000                     0.75%
                                       Over $5,000,000                       Negotiable

The wealth management fee in the first month of service is prorated from the inception date of the account[s] to the
end of the first month. 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
Gudorf Financial 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 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.

                                                Gudorf Financial Group, LLC
                                           8145 North Main Street, Dayton, OH 45415
                                                    Phone: (937) 898-5430
                                                  https://gudorffinancial.com

Retirement Plan Advisory Services
Retirement plan advisory fees are charged an annual asset-based fee of up to 1.50%. Fees may be billed monthly
or quarterly (“Billing Period”) in advance or arrears pursuant to the terms of the retirement plan advisory agreement.
Retirement plan fees are based on the market value of assets under management at the end of the Billing Period.
Fees may be negotiable depending on the size and complexity of the Plan but shall not exceed the fee range stated
above.

B. Fee Billing
Wealth Management Services
Wealth 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 respective month end date. The amount due is calculated by applying the monthly
rate (annual rate divided by 12) to the total assets under management with Gudorf Financial at the end of each month.
Clients will be provided with a statement, at least quarterly, from the Custodian reflecting deduction of the wealth
management fee. Clients are urged to also review and compare the statement provided by the Advisor to the
brokerage statement from the Custodian, as the Custodian does not perform a verification of fees. Clients provide
written authorization permitting wealth management fees to be deducted by Gudorf Financial to be paid directly from
their account[s] held by the Custodian as part of the wealth management agreement and separate account forms
provided by the Custodian.

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 Gudorf Financial, in connection with
investments made on behalf of the Client’s account[s]. The Client is responsible for all custody and securities
execution fees charged by the Custodian, as applicable. The Advisor's recommended Custodian does not charge
securities transaction fees for ETF and equity trades in a Client's account, provided that the account meets the terms
and conditions of the Custodian's brokerage requirements. However, the Custodian typically charges for mutual funds
and other types of investments. The fees charged by Gudorf Financial are separate and distinct from these custody
and execution fees.

In addition, all fees paid to Gudorf Financial 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 Gudorf
Financial, but would not receive the services provided by Gudorf Financial 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 charged by
Gudorf Financial to fully understand the total fees to be paid. Please refer to Item 12 – Brokerage Practices for
additional information.

D. Advance Payment of Fees and Termination
Wealth Management Services
...

Item 7 – Types of Clients

Gudorf Financial offers investment advisory services to individuals, high net worth individuals, trusts, estates,
businesses, and retirement plans. Gudorf Financial generally requires a minimum relationship size of $750,000 to
effectively implement its investment process.