Heritage Financial LLC

Item 5:​       Fees and Compensation

       A.​     Fees Charged
       All investment management clients will be required to execute a Financial Services and Advisory
       Agreement that will describe the type of management services to be provided and the fees, among
       other items. Clients who utilize the services of a Third-Party Adviser will typically be required to
       execute a separate Investment Advisory Agreement that describes the management services to be
       provided and the fees, and outlines the responsibilities of each party. More information about
       Third-Party Advisers and their respective services and fees can be found in their respective
       disclosure brochures. Clients are advised that they may pay fees that are higher or lower than fees
       they may pay another advisor for the same services, and may in fact pay lower fees for comparable
       services from other sources. Clients are under no obligation at any time to engage or to continue to
       engage HF for advisory services.

       Asset Management
       Generally, fees vary from 0.00% to 1.50% per annum of the market value of a client’s assets
       managed by HF. The fee range stated is a guide. Fees are negotiable, and may be higher or lower
       than this range, based on the nature of the account. Factors affecting fee percentages include the size
       of the account, complexity of asset structures, and other financial planning factors. All clients, but
       especially those with smaller accounts, should be advised they may receive similar services from
       other professionals for higher or lower overall costs. The fees shown below are the highest levels
       charged by HF for its standard services.

                                Assets Under Management           Annual Rate
                                $0-$500,000                       1.50%
                                $500,001-$1,000,000               1.40%
                                $1,000,001-$2,500,000             1.00%
                                $2,500,001-$10,000,000            0.50%
                                $10,000,001 and greater           0.30%

       HF’s above fee schedule is inclusive of any administration fees charged by FPAS for the services it
       provides to a client’s account.

       Financial Planning

       In circumstances when financial planning is done on a stand-alone basis, the fees charged are based
       on the fee agreed upon by the adviser and client. The arrangement is typically provided on a fixed
       fee basis, and the fixed fees will range from $1,000 to $20,000. Financial planning fees are
       negotiable. These fees are dependent on the nature of the engagement, and are decided upon on a
       case-by-case basis. At the discretion of HF, financial planning services may be done on an hourly
       basis with a rate of $475 per hour.

       B.​     Fee Payment

       Asset Management:

       For clients whose assets are managed in conjunction with FPAS, investment advisory fees will be
       debited directly from each client’s account by HF’s account administrator, FPAS. The advisory fee is
       paid quarterly, in advance, based upon the market value of the assets being managed by HF on the
       last day of the previous billing period as valued by the custodian of client assets. For example, if the

                                         Date of Brochure: June 09, 2026

client’s annual fee is 1.00%, each quarter FPAS will multiply the value of the client’s account on the
last day of the previous billing period by 1.00%, then divide by four to calculate the fee (i.e., based
on a 360-day calendar year and four equal 90-day calendar quarters). To the extent there is cash in
the client’s account, it will be included in the value for the purpose of calculating fees. Once the
calculation is made, FPAS will instruct the client’s account custodian to deduct the fee from the
client’s account and remit it to FPAS, who will then remit HF its portion of the fees. While almost
all of HF’s clients have their fee debited from their account, HF may invoice clients at HF’s
discretion.
​
Clients whose fees are directly debited will provide written authorization to debit advisory fees from
their accounts held by a qualified custodian. The client will also receive a statement from their
account custodian showing all transactions in their account, including the fee.

Financial Planning:

Some clients receive planning as part of their asset management engagement. In the event that a
client receives stand-alone planning, fee payment terms will be negotiated on a case-by-case basis.
Fees for financial planning may be charged in advance or in arrears, and clients may be expected to
pay a portion of the financial planning fees upon engagement. Fees will be payable upon receipt of
invoice from HF, or clients may elect to have financial planning fees debited from one of the
investment accounts managed by HF. In no event will a client be required to prepay more than
$1,200 in fees and more than six (6) months in advance.

C.​     Other Fees

There are a number of other fees that can be associated with holding and investing in securities. To
the extent that client’s assets are allocated among Third-Party Advisers, the fees charged by such
Third-Party Advisers are generally separate and in addition to the fees charged by Advisor and will
be separately disclosed to such clients in writing. Clients will be responsible for fees including
transaction fees for the purchase or sale of a mutual fund or exchange traded fund (ETF), or
exchange fees for the purchase or sale of a stock. Expenses of a fund will not be included in
management fees, as they are deducted from the value of the shares by the mutual fund manager. For
a complete discussion of expenses related to each mutual fund, the client should read a copy of the
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Item 7:​       Types of Clients

       Clients advised may include individuals, families, trusts, charitable organizations and foundations,
       small businesses, and corporations. HF does not require any particular minimum amount of assets to
       be placed with HF.

                                       Date of Brochure: June 09, 2026