Hazlett Burt & Watson Inc

ITEM 5: FEES AND COMPENSATION

  A. Advisory Fees

  Prior to engaging Security Capital Management to provide advisory services, the client will be
  required to enter into a written Client Agreement with SCM setting forth the terms and
  conditions and the fees under which it will render its services. Fees may be subject to
  negotiation under certain circumstances as agreed on by SCM and the client. The following
  schedule of fees outlines the typical fee structure under which Security Capital Management
  renders its services. The actual schedule of fees, as it applies to a particular client, will be
  clearly outlined in the Client Agreement.

     1. Fees for Investment Management Services

  Security Capital Management charges fees for Investment Management Services as follows:

             a. Percentage of Managed Assets: Clients pay an annualized quarterly advisory fee
                (“AUM Fee”) in arrears based on fair market value of the assets under
                management (as reasonably determined in good faith by Security Capital
                Management) as of the close of business on the last business day of the calendar
                quarter. The AUM Fee is generally computed as the combination of Management
                and Platform Fees as follows:

Security Capital Management                                                       March 25, 2026
Form ADV Part 2A

          Management Fee

            Assets Under Management                Advisory Fee (% AUM)
            Up to $500,000                         1.75%, plus
            Between $500,001 and $1,000,000        1.50%, plus
            Between $1,000,001 and $2,500,000      1.35%, plus
            Between $2,500,001 and $5,000,000      1.15%, plus
            Between $5,000,001 and $10,000,000     0.95%, plus
            In excess of $10,000,000               0.75%

          Platform Fee

            Assets Under Management                Advisory Fee (% AUM)
            Up to $250,000                         0.120%, plus
            Between $250,001 and $500,000          0.080%, plus
            Between $500,001 and $1,000,000        0.040%, plus
            Between $1,000,001 and $2,000,000      0.030%, plus
            Between $2,000,001 and $5,000,000      0.015%, plus
            In excess of $5,000,000                0.010%

A minimum $100.00 annual Platform Fee will be incurred on each Advantage Account. The
Platform Fee is intended to defray a portion of SCM’s operating costs related to the Asset
Management Account program, but does not include commissions, clearing or execution costs.
The Platform Fee is not charged on 529 Plan and other accounts held directly with mutual fund
companies.

AUM Advisory fees are billed quarterly and prorated based on the number of days that an
account is open during the quarter. SCM can reduce or waive entirely its Investment
Management Fee for client accounts, in SCM’s sole discretion

When SCM provides Investment Management services, as detailed above SCM earns a fixed
percentage asset-based fee, regardless of how much trading activity occurs in your account. Since
our advisory fee is based on the value of your assets, we have an incentive to increase the value of
your account, and in some cases, to recommend that you “switch” account types from a brokerage
account to an investment advisory account. This creates a conflict of interest, as we may be
incentivized to recommend that you add more money to your account, discourage you from
withdrawing assets from your account, or “switch” your account type to an investment advisory
account, even if it is not in your best interest. Additionally, because your account fees are based on
the value of your account assets, an incentive exists to trade less frequently in your account. These
incentives create conflicts of interest that SCM manages through its compliance oversight program.

Further, SCM’s Investment Management Services costs may be higher than those under a
traditional commission-based brokerage arrangement if you do not trade frequently. If you are a
“buy-and-hold” investor, the fixed percentage asset-based fee you pay us for investment

Security Capital Management                                                        March 25, 2026
Form ADV Part 2A

management and financial advice may cost you more than the trading commissions you would pay
in a brokerage account. Please refer to the firms’ From CRS Relationship Summary disclosure
document, which provides an explanation of the differences between brokerage services and
investment advisory services. A copy of this Form can be obtained by visiting our website at
www.hazlettburt.com/regulation-bi or by contacting your financial advisor.

    2. Fees for Financial Planning Services
Fees for Financial Planning Services are charged in one of three ways:
      i.     Hourly Basis: Hourly fees are charged at a rate of $300.00 per planner-hour,
             including meeting time and preparation time (“Hourly Fee”). Support staff time may
             be billed at a lower rate where appropriate. The first month's fees will be billed
             against an initial deposit, with the deposit amount agreed on in advance and set forth
             in the written agreement between the Client and SCM. Billing for Financial
             Planning Services is quarterly in arrears or on completion.
      ii.    One-time/flat fee: Clients pay a flat fee and make a deposit against the fee as agreed
             in advance and set forth in the written agreement between the Client and SCM. The
             balance is due upon completion of Financial Planning Services.
      iii.   Hourly Fee with a Guaranteed Maximum (Capped Hourly Fee): Clients agree to pay
             SCM’s Hourly Fee, subject to an agreed-upon maximum total fee as agreed in
             advance and set forth in the written agreement between the Client and SCM, subject
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ITEM 7: TYPES OF CLIENTS

Security Capital Management provides advisory services primarily to individuals and high
net worth individuals, as well as to families, trusts, estates, pension and profit sharing plans,
charitable organizations, and other business entities.

The minimum account size for Investment Management Services is generally $25,000.
However, Security Capital Management may accept smaller portfolios or maintain portfolios
whose value has fallen below $25,000 in SCM’s discretion.