High Pines Wealth Management LLC

Item 5 – Fees and Compensation

The following paragraphs detail the fee structure and compensation methodology for services provided by the
Advisor. Each Client shall sign an agreement that details the responsibilities of High Pines and the Client.

A. Fees for Advisory Services
Wealth Management Services / Investment Management Services
Wealth management and investment advisory fees are paid quarterly at the end of each calendar quarter,
pursuant to the terms of the wealth management or investment advisory agreement. Wealth Management and
investment advisory fees are based on the market value of assets under management at the end of the quarter.
Wealth management and investment advisory fees range from 0.50% to 1.25% annually and are based on several
factors, including the scope and complexity of the services to be provided, the level of assets to be managed, and
the overall relationship with the Advisor. Relationships with multiple objectives, specific reporting requirements,
portfolio restrictions, and other complexities may be charged a higher fee.

Fees for Clients selecting standalone investment management will generally be discounted compared to the fees
charged for wealth management services. The complexity of the Client relationship and the Client’s overall needs
will determine the fee rate determined by the Advisor.

Wealth management and investment advisory fees in the first quarter of service are prorated from the inception
date of the account[s] to the end of the first quarter. 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 High Pines will be independently valued by the Custodian. The Advisor
will conduct periodic reviews of the Custodian’s valuations 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.

For accounts with American Funds as the custodian where advisory fees are paid from that account, fees are
based on the range of fees above. Fees shall be calculated by AFS for each quarterly period ending the last
business day of February, May, August, and November and shall be the product of (i) the rate selected by the
Firm above, (ii) the average daily net asset value of the Client’s assets invested in the Fund through the Program
during the quarter; divided by , (iii) the number of days in the year multiplied by the number of days in the quarter.
The fees shall be paid within thirty (30) days following the end of the quarter for which such fees are payable.

B. Fee Billing
Wealth Management Services / Investment Management Services
Wealth management and investment advisory fees will be 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 quarter-end date. The amount
due is calculated by applying the quarterly rate (annual rate divided by 4) to the total assets under management
with High Pines at the end of each quarter. Clients will be provided with a statement, at least quarterly, from the
Custodian reflecting the deduction of the wealth management or investment advisory fee. It is the responsibility
of the Client to verify the accuracy of these fees as listed on the Custodian’s brokerage statement, as the
Custodian does not assume this responsibility. Clients provide written authorization permitting advisory fees to be
deducted by High Pines directly from their accounts held by the Custodian as part of the wealth management or
investment advisory agreement and separate account forms provided by the Custodian.

                                          High Pines Wealth Management, LLC

                                    40 Tremont Street, Suite 62, Duxbury, MA 02332
                                        Phone: (617) 580-3141 | Fax: (617) 463-9012
                                  Mailing Address: P.O. Box 2031, Duxbury, MA 02331
                                              www.highpineswealth.com

C. Other Fees and Expenses
Clients may incur certain fees or charges imposed by third parties, other than High Pines, in connection with
investments made on behalf of the Client’s account[s]. The Client is responsible for all securities execution and
custody fees charged by the Custodian, if 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 wealth management and investment management fees charged
by High Pines are separate and distinct from these custody and execution fees.
In addition, all fees paid to High Pines for wealth management 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 High
Pines, but would not receive the services provided by High Pines, 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
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Item 7 – Types of Clients

High Pines provides wealth management services to individuals, high-net-worth individuals, trusts, estates,
businesses, foundations, and endowments. The amount of each type of Client is available on the Advisor's Form
ADV Part 1A. These amounts may change over time and are updated at least annually by the Advisor. High Pines
does not impose a minimum account or relationship size.