Guggenheim Wealth Solutions LLC

Item 5 – Fees and Compensation

Managed Account Fees

For advisory services provided to Managed Account Program clients, the Adviser will be paid a separate asset-
based fee. The Adviser negotiates its fee with the Sponsor and this fee may differ with respect to the investment
strategies offered by the Adviser through the Managed Account Program. Managed Account Program clients
pay the Adviser directly for investment management services. In most cases, the Adviser submits invoices to
the Sponsor and the Sponsor deducts the Adviser’s fees from the clients’ accounts and remits them to the
Adviser. In certain dual contract or unbundled relationships, the Advisor may invoice a client directly, and the
client may pay the Advisor directly. The Advisor typically calculates the fees to be paid by the client and the
Sponsor approves these calculations. Such fees are typically charged monthly or quarterly. In the event that a

Managed Account client terminates its account, generally the Adviser shall refund a pro rata portion of any
prepaid fee it received to the Sponsor for the month in which the termination occurs.

Please review the Sponsor’s Managed Account Program brochures and related Managed Account Program
documentation, including the client’s account documentation, for the specific terms and conditions applicable
in connection with the Managed Account Programs in which we participate.

Expenses

GPIM may invest in investment companies, including open-end funds, closed-end funds, exchange-
traded funds and other types of pooled investment funds in Managed Accounts Program accounts. When
GPIM invests clients in such unaffiliated securities, unless otherwise agreed and where permitted by law, the
client will bear its proportionate share of fees and expenses as an indirect investor in the vehicle, if any, and any
commissions, transaction costs or sales charges that apply in making the investment, in addition to any fees
charged to the client by the Advisor or the Sponsor.

Clients should carefully review the brochure provided by the Sponsor as well as their agreement with the
Sponsor prior to participating in any Managed Account Program and consider the services that are covered by
the fees paid to the Sponsor as they relate to the management styles and trading methods being employed by
portfolio managers within the Managed Account Program.

Depending upon the fees charged, the amount and type of account activity (e.g., whether transactions must
frequently be executed away from the Sponsor or the Sponsor’s designated broker-dealer at an increased
charge), the value of custodial and other services provided and other factors of the agreement with the Sponsor,
the Sponsor’s wrap fee may exceed the aggregate fees that the client might pay if such services were obtained
separately.

GPIM, as sub-adviser, will execute fixed income security transactions for Managed Account Program client
accounts which will be allocated according to the Adviser’s trade allocation policy and procedures to ensure all
clients are treated fair and equitably. Fixed income transactions will in most cases result in such trades being
executed away from the Sponsor. Commissions, commission equivalents (such as mark-ups or mark-downs)
and other transaction-related expenses charged by parties other than the Sponsor or its affiliates typically are
not included within the Sponsor’s wrap fee, and Sponsors may have limited capability to execute certain types
of transactions. As Sponsor wrap fees typically cover only certain transactions, such as transactions in equity
securities that are executed through the Sponsor or the designated broker-dealer, Managed Account Program
clients may not receive the full benefit of the wrap fee to the extent that such transactions are executed away
from the Sponsor. Please see Item 12 – “Brokerage Practices” for additional information about brokerage
activity.

Item 7 - Types of Clients

The Adviser provides investment advice to individual retail clients through Managed Account Programs.
Managed Account Program clients in a “single contract” Managed Account Program enter into an investment
advisory agreement with the Sponsor and do not enter into a separate agreement with the Adviser. In “dual
contract” Managed Account Programs, the Adviser enters into a contract directly with the client and the client
enters into a separate contract directly with the Sponsor.

Guggenheim and/or the Sponsor will generally impose a minimum investment requirement, which may differ
by investment strategy and Managed Account Program. Managed Account Program clients are encouraged to
review the brochure prepared by their Sponsor for more information regarding account minimums.