Ipsen Advisor Group LLC

Item 5: Fees and Compensation

We base our fees on hourly charges, fixed fees, and a percentage of assets under management,
which are described below.

Compensation – Financial Planning
Financial Planning fees will be charged in one of two ways:

   •   As a fixed fee, typically ranging from $900 to $5,000, depending on the nature and
       complexity of each client’s circumstances, or
   •   On an hourly basis of up to $600 per hour

All financial planning fees are due in advance, upon execution of your agreement with us.
Installment payments may be authorized in some situations. Investment Management clients
may receive Financial Planning services at no additional cost.

Compensation – Investment Management Services
Investment Management fees are charged an annual fee as follows:

               Household Assets Under Management              Annual Account Fee
                         $0 - $1,000,000                        1.15% - 1.50%
                     $1,000,000 - $2,500,000                    0.90% - 1.35%
                     $2,500,000 - $5,000,000                    0.60% - 1.20%
                    $5,000,000 - $10,000,000                    0.40% - 0.95%
                    $10,000,000- $15,000,000                    0.25% - 0.75%
                          $15,000,000 +                         0.15% - 0.65%

The asset-based fee is billed monthly, in advance, and is based upon the market value of the
Household Assets, including cash, as valued by the custodian on the last day of the previous
month.

Compensation – Retirement Plan Advisory Services
We charge an annualized fee of up to 1.50% of the plan's assets for the pension consulting
services described above. The amount of the fees charged to the client are negotiable and are
generally based on the size and complexity of the plan, the number of plan participants, the
location of the participants, the estimated number of meetings required, and other factors that
may be deemed relevant by us when negotiating with the client. An estimate of the total cost
will be determined at the start of the advisory engagement. Fees for pension consulting
services are generally payable monthly in advance.

Calculation and Payment

The specific manner in which we charge fees is established in a client’s written agreement with
us. Clients may elect to be invoiced directly for fees or to authorize us to directly debit fees
from client accounts.

Management fees shall be prorated for each capital contribution and withdrawal made during
the applicable calendar month.

Accounts initiated during a calendar month will be charged a prorated fee. Upon termination of
any account, any prepaid, unearned fees will be promptly refunded, and any earned, unpaid
fees will be due and payable.

In no case will more than $1,200 be collected from the client more than 6 months in advance.
Related accounts may be linked for purposes of fee calculation if all parties agree; meaning
certain accounts approved by us may be grouped for fee calculations.

Fees are calculated as described above and are not charged on the basis of a share of capital
gains upon or capital appreciation of the funds or any portion of the funds of a client.

Agreement Terms
Either party may terminate an agreement at any time by notifying the other in writing. If the
client made an advance payment, we would refund any unearned portion of the advance
payment. If the client made a payment in advance, we would collect any earned yet unpaid
fees.

Cash Balances
Some of your assets may be held as cash and remain uninvested. Holding a portion of your
assets in cash and cash alternatives, i.e., money market fund shares, may be based on your
desire to have an allocation to cash as an asset class, to support a phased market entrance
strategy, to facilitate transaction execution, to have available funds for withdrawal needs or to
pay fees or to provide for asset protection during periods of volatile market conditions. Your
cash and cash equivalents will be subject to our investment advisory fees unless otherwise
agreed upon. You may experience negative performance on the cash portion of your portfolio if
the investment advisory fees charged are higher than the returns you receive from your cash.

Retirement Plan Rollover Recommendations
As part of our investment advisory services to our clients, we may recommend that clients roll
assets from their employer’s retirement plan, such as a 401(k), 457, or ERISA 403(b) account
(collectively, a “Plan Account”), to an individual retirement account, such as a SIMPLE IRA, SEP
IRA, Traditional IRA, or Roth IRA (collectively, an “IRA Account”) that we will advise on the
client’s behalf. We may also recommend rollovers from IRA Accounts to Plan Accounts, from
Plan Accounts to Plan Accounts, and from IRA Accounts to IRA Accounts.

If the client elects to roll the assets to an IRA that is subject to our advisement, we will charge
the client an asset-based fee as set forth in the advisory agreement the client executed with our

firm. This creates a conflict of interest because it creates a financial incentive for our firm to
recommend the rollover to the client (i.e., receipt of additional fee-based compensation).
Clients are under no obligation, contractually or otherwise, to complete the rollover. Moreover,
if clients do complete the rollover, clients are under no obligation to have the assets in an IRA
advised on by our firm. Due to the foregoing conflict of interest, when we make rollover
recommendations, we operate under a special rule that requires us to act in our clients’ best
interests and not put our interests ahead of our clients.’

Under this special rule’s provisions, we must:

   •    meet a professional standard of care when making investment recommendations (give
        prudent advice);
   •    never put our financial interests ahead of our clients’ when making recommendations
        (give loyal advice);
...

Types of Clients
We provide investment advisory services to individuals, high net worth individuals, pension and
profit-sharing plans, corporations/other business entities, trusts, and estates. Our investment
advisory services include investment management and financial planning.

Account Minimums
We have no minimum account size.