John Boyer Inc

Item	5	–	Fees	and	Compensation
JBI	 offers	 financial	 planning	 and	 consulting	 services,	 which	 may	 include	 areas	 such	 as	 financial
planning,	estate	planning,	and	tax	planning.	Financial	planning	services	are	provided	on	either	an
hourly	or	fixed-fee	basis.

Hourly	fees	range	from	$250	to	$500	per	hour.	Fixed	fees	generally	start	at	$500	and	may	increase
depending	on	the	scope	and	complexity	of	the	services	provided.

Prior	to	engaging	JBI	for	financial	planning	services,	clients	will	receive	an	estimate	of	the	anticipated
hours	and	total	cost	of	the	engagement.

Unless	otherwise	stated	in	the	advisory	agreement,	financial	planning	fees	are	due	upon	completion
of	the	services	rendered.	Either	party	may	terminate	the	financial	planning	engagement	at	any	time.
In	 the	 event	 of	 termination,	 clients	 will	 be	 billed	 only	 for	 services	 performed	 through	 the	 date	 of
termination.

Portfolio	Management	Service	Fees

Portfolio	 management	 fees	 are	 billed	 quarterly	 in	 advance	 pursuant	 to	 the	 terms	 of	 the	 advisory
agreement.	Fees	are	calculated	based	on	the	market	value	of	assets	under	management	on	the	last
day	of	the	preceding	calendar	quarter	(March	31,	June	30,	September	30,	and	December	31).

The	annual	portfolio	management	fee	schedule	is	as	follows:

	       	        	        	        	        	        	        Annual	Fee	      	        Quarterly	Fee

	       First	$500,000		           	        	        	        1.50%	 	         		       	.375%

	       $501,000-$1,000,000	 	              	        	        1.25%	 	         	        .3125%

	       $1,000,001-$2,000,000	              	        	        1.00%	 	         	        .25%

	       $2,000,001-$5,000,000	              	        	        0.75%	 	         	        .1875%

	       Over	$5,000,000	           	        	        	        Negotiable

Fees	for	the	initial	quarter	of	service	are	prorated	from	the	inception	date	of	the	account	through	the
end	of	the	quarter.

JBI	 may	 aggregate	 the	 value	 of	 related	 client	 accounts	 (such	 as	 accounts	 of	 spouses	 or	 family
members	living	in	the	same	household)	when	determining	the	applicable	advisory	fee	schedule.

Because	 advisory	 fees	 are	 based	 on	 assets	 under	 management,	 JBI	 has	 a	 financial	 incentive	 to
encourage	clients	to	increase	the	assets	maintained	in	accounts	managed	by	the	firm.

Upon	 termination	 of	 the	 advisory	 agreement,	 any	 prepaid	 and	 unearned	 advisory	 fees	 will	 be
refunded	to	the	client	on	a	pro-rata	basis.

Billing	and	Payment	of	Fees

Advisory	fees	are	typically	deducted	directly	from	the	client’s	custodial	account.

Clients	must	provide	written	authorization	permitting	JBI	to	deduct	advisory	fees	directly	from	their
custodial	account.

The	 qualified	 custodian	 will	 send	 account	 statements	 to	 the	 client	 at	 least	 quarterly	 showing	 all
transactions,	 including	 the	 deduction	 of	 advisory	 fees.	 Clients	 are	 encouraged	 to	 review	 these
statements	carefully.

In	certain	circumstances,	JBI	may	invoice	clients	directly	for	advisory	fees.

Additional	Fees	and	Expenses

JBI’s	advisory	fees	are	exclusive	of	brokerage	commissions,	transaction	fees,	and	other	related	costs
and	expenses	that	may	be	incurred	by	the	client.

Clients	may	incur	certain	charges	imposed	by	custodians,	brokers,	and	other	third	parties	such	as:

    •   custodial	fees
    •   brokerage	commissions
    •   transaction	fees
    •   wire	transfer	fees
    •   electronic	fund	transfer	fees
    •   taxes	and	other	fees	related	to	securities	transactions

Mutual	funds	and	exchange-traded	funds	charge	internal	management	fees	and	other	expenses	which
are	disclosed	in	the	fund’s	prospectus.	These	fees	are	separate	from	and	in	addition	to	JBI’s	advisory
fee.

Selection	of	Other	Advisors	(Third-Party	Managers)

JBI	may	recommend	that	clients	utilize	the	services	of	a	third-party	investment	adviser	(“TPA”)	to
manage	a	portion	or	all	of	the	client’s	assets.	These	TPAs	are	registered	investment	advisers	with
either	the	Securities	and	Exchange	Commission	or	the	appropriate	state	regulatory	authority.

After	 evaluating	 a	 client’s	 financial	 situation,	 investment	 objectives,	 and	 risk	 tolerance,	 JBI	 may
recommend	a	TPA	whose	investment	strategy	is	appropriate	for	the	client.

Clients	 who	 engage	 a	 TPA	 will	 enter	 into	 an	 agreement	 directly	 with	 the	 TPA.	 JBI	 may	 assist	 in
monitoring	the	performance	of	the	TPA	to	ensure	the	investment	strategy	remains	consistent	with
the	client’s	objectives.

JBI	typically	receives	a	portion	of	the	advisory	fee	paid	by	the	client	to	the	TPA	for	its	advisory	and
monitoring	 services.	 Because	 JBI	 receives	 a	 portion	 of	 this	 fee,	 JBI	 has	 a	 financial	 incentive	 to
recommend	TPAs	that	share	fees	with	the	firm,	which	creates	a	conflict	of	interest.

Clients	 will	 receive	 full	 disclosure	 regarding	 the	 services	 and	 fees	 charged	 by	 the	 TPA,	 including
delivery	of	the	TPA’s	Form	ADV	Part	2A	or	similar	disclosure	document.

Fees	charged	by	TPAs	are	determined	by	the	respective	TPA	and	may	or	may	not	be	negotiable.

Broker-Dealer	Advisory	Programs

JBI	may	receive	advisory	compensation	based	on	assets	under	management	for	clients	participating
in	certain	advisory	programs	offered	through	a	broker-dealer.

Clients	 participating	 in	 these	 programs	 must	 provide	 written	 consent	 and	 enter	 into	 an	 advisory
agreement	with	JBI.	The	advisory	fee	is	calculated	quarterly	in	advance	based	on	the	value	of	the
assets	under	management	as	of	the	end	of	the	previous	quarter.

The	 maximum	 advisory	 fee	 charged	 in	 connection	 with	 these	 programs	 will	 not	 exceed	 1.00%
annually.	 In	 these	 arrangements,	 the	 advisory	 fee	 is	 paid	 to	 JBI	 by	 the	 broker-dealer	 and	 is	 not
charged	separately	to	the	client.

Item	7	–	Types	of	Clients
John	Boyer,	Inc.	provides	investment	advisory	and	financial	planning	services	to	the	following	types
of	clients:

    •   Individuals
    •   High	net	worth	individuals
    •   Families	and	households
    •   Trusts	and	estates
    •   Business	owners

JBI	may	also	provide	services	to	retirement	plan	participants	and	other	individuals	seeking	financial
planning	or	investment	management	services.

JBI	does	not	require	a	minimum	account	size	for	financial	planning	services.	Portfolio	management
relationships	may	be	subject	to	minimum	account	sizes,	which	may	be	waived	at	the	discretion	of	the
firm.