Johnson Wealth Inc

Item 5 - Fees and Compensation
Johnson Wealth offers investment advisory services for a negotiable fee based
upon the amount and type of assets in client accounts, the level of service provided,
and the complexity and scope of the assignment. Fees may be asset, retainer, or
project based and are typically subject to an annual minimum. Fees are paid in
accordance with the calculation methodology, frequency, and billing method set
forth in each client’s fee schedule; however, most clients are billed monthly in
arrears with fees directly deducted from the client’s account. Johnson Wealth and
the client have the right to terminate the advisory agreement by written notice.

If the agreement is terminated, the client will pay any advisory fees and expenses
yet due or receive a pro rata refund of unearned advisory fees paid in advance.
Refunds will be credited back to the account from which the advance fee was
debited. In the event the account was transferred to another custodian, the refund
will be forwarded to the new custodian. If an advance fee was paid by check, we
will mail a check in the amount of the refund. Refunds are typically made in the
quarter following termination. Clients should contact their Wealth Advisor if they
believe they are entitled to, but have not yet received, a refund.

Our standard advisory fee schedule applicable to individual clients is as follows:

                 Assets Under Management            Advisory Fee
                 First $2,000,000                   1.00%
                 Next $2,000,000                    0.85%
                 Next $4,000,000                    0.70%
                 On the Balance                     0.60%
                 Minimum Fee                        $5,000

The above fee schedule is blended with breakpoints. For example, if the total
market value of the account is $3,000,000, 1.00% is charged on the first
$2,000,000 and 0.85% is charged on the remaining $1,000,000.

Our fees applicable to institutional clients are most often negotiated based upon
the size and complexity of the engagement.

For accounts held by our primary custodian, Pershing LLC (“Pershing”), and
managed solely by Johnson Wealth, our advisory fee includes custody and clearing
services. Our advisory fee, however, does not include other service and activity
fees charged by Pershing, including, but not limited to, fees and expenses for wires,
account transfers, terminations, paper transaction confirmations, and paper
statements. A schedule of service and activity fees charged by Pershing is included
with each client’s new account paperwork.

Whenever we engage a Manager through the Program Administrator to manage a
client’s account, the client pays additional fees to the Manager for investment
management as well as the Program Administrator for platform administration and
custody of assets. These fees are in addition to the Johnson Wealth advisory fee
and typically range from 0.40% to 0.75%. In addition, they are bundled and
deducted directly from the client’s account by the Program Administrator. The use
of Managers through the Program Administrator is based on the individual needs
of each client; however, because the client is responsible for paying custody and
clearing fees, we retain a larger portion of our advisory fee. This is an important
conflict of interest to understand when we recommend a Manager for a client
portfolio.

We also engage certain Managers directly. In these instances, we pay the fee
charged by the Manager for investment management services, then allocate the
fees across each client portfolio utilizing the Manager. These fees are in addition to
the Johnson Wealth advisory fee.

Clients with assets invested in mutual funds or ETFs will indirectly pay a
proportionate share of the fund’s expenses, including investment management fees
to the fund’s investment adviser. More information about each fund’s fees and
expenses is available in the fund’s prospectus and can be obtained by contacting
your Wealth Advisor.

Investments in private investment vehicles, such as hedge funds and other
collective investment funds, involve additional fees directly or indirectly paid at the
fund level. Clients subscribing to private investments through the third-party
described in Item 4 will pay an additional platform fee to the third-party provider.

Standalone financial planning services are also available to clients who do not
engage Johnson Wealth to manage assets. Fees for financial planning services are
negotiated with respect to the scope of the engagement and defined in the
engagement agreement executed by each client.

We also provide administrative and non-discretionary services such as
consolidated account reporting, portfolio accounting, performance calculation and

trade order entry for accounts that we do not manage. Non-managed accounts are
typically charged a 0.20% fee based on the value of the assets held in the non-
managed account.

Johnson Wealth may modify its fee schedules, calculation methodologies, and
billing practices from time to time. Accounts for clients that convert to Johnson
Wealth from the wealth management business of our affiliate, Johnson Bank, or are
acquired through other mergers or acquisitions, typically retain the rates and
calculation methodology contemplated as part of the original advisory agreement
and fee schedule, unless the client(s) are otherwise notified. We also approach
certain market segments with custom fee structures and calculation
methodologies. Therefore, some clients will pay fees that are higher or lower than
the standard fee schedules shown above.

Johnson Wealth offers clients access to multiple Donor Advised Fund (“DAF”)
options through its partnership certain custodians. When a client chooses to make
a grant to a DAF, the DAF establishes a direct relationship with Johnson Wealth,
allowing us to continue managing the client’s DAF account in accordance with the
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Item 7 - Types of Clients
Johnson Wealth provides financial planning, investment advisory, and consulting
services to high-net-worth individuals, families, trusts, not-for-profit organizations,
public and private foundations, endowments, business entities, and government
entities.

As described in Item 4, Johnson Wealth provides discretionary and non-
discretionary subadvisory services to our affiliate, Johnson Bank.

We also provide pre-retirement planning services to airline pilots and other
individuals within their 401k plans that may include, among other things, risk
tolerance profiling, asset allocation design, pension benefits review, retirement
timing and transition consultation.

Johnson Wealth manages accounts on behalf of employees. Although not common
practice, we may manage accounts on behalf of Johnson Wealth or an affiliate
which are considered “proprietary accounts”. Employee and proprietary accounts
are managed and traded alongside other client accounts, which creates an incentive
for Johnson Wealth to put the interests of our employees or proprietary accounts
ahead of other clients. Our Code of Ethics requires employees to put clients’
interests ahead of their own, or the firm’s, as well as to report personal trades and
holdings. Our Trading Policies and Procedures include controls designed to avoid
preferential treatment of employee and proprietary accounts. See also Item 12 –
Brokerage Practices - Aggregation and Allocation of Trades.

Conditions for Managing Accounts

Clients are responsible for notifying us of any changes in their financial situation,
investment objectives, or account restrictions. We recommend clients have
$1,000,000 in investable assets to allow for diversification of Managers and assets.
We typically require a minimum of $200,000 per Manager; however, individual
Managers may impose a higher or lower minimum. We also impose minimum fees
for our investment advisory and consulting services.