Karagosian Financial Services Inc

Item 5 – Fees and Compensation

   A. Fees are customarily based upon a percentage of the market value of the client’s
      portfolio for the previous month. Our fee generally ranges from 1.00% to 2.00% and is
      based on the complexity of the investment strategy and size of the account. The fee is
      negotiable and usually fixed. When mutual funds or ETFs are managed, our firm’s fee is
      in addition to the fee charged by these companies. There is a questionnaire form which
      is used before any investment advice is given to investment advisory clients. In general,
      there is no charge for the initial interview. If a financial plan is requested by the client or
      if there was a specific financial analysis, there is no additional fee. Also, there may be a
      minimum fee charge when assets under management are under $100,000. A client may
      terminate the management agreement by providing a written notice.

Our current fee schedule is illustrated below. However, all fees are negotiable.

         AUM                             % of AUM

 $0- $500,000                            1.50%

 $500,001- $5,000,000                    1.25%

 $5,000,000- plus                        1.00%

 B. The specific manner in which fees are charged by Karagosian Financial Services, Inc. is
 established in a client’s written agreement with Karagosian Financial Services, Inc. Karagosian
 Financial Services, Inc. will generally bill its fees on a monthly basis. Clients are billed in arrears
 each calendar month. Clients may also elect to be billed directly for fees or to authorize
 Karagosian Financial Services, Inc. to directly debit fees from client accounts. Management
 fees shall be prorated for each capital contribution and withdrawal made during the
 applicable calendar month (with the exception of de minimis contributions and withdrawals).
 Accounts initiated or terminated during a calendar quarter 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.

 C. Karagosian Financial Services, Inc.’s fees are exclusive of brokerage commissions, transaction
 fees, and other related costs and expenses which shall be incurred by the client. Clients may
 incur certain charges imposed by custodians, brokers, third party investment and other third
 parties such as fees charged by managers, custodial fees, deferred sales charges, odd-lot
 differentials, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on
 brokerage accounts and securities transactions. Mutual funds and exchange traded funds also
 charge internal management fees, which are disclosed in a fund’s prospectus. Such charges,
 fees and commissions are exclusive of and in addition to Karagosian Financial Services, Inc.’s
 fee. (please see sections 10 and 12 for further information on brokerage activities)

 D. We do not receive fees in advance.

 E. 1) As of the fourth quarter of calendar 2024, all representatives of Karagosian Financial are
 no longer dual registered as investment advisors and registered representatives for a
 broker/dealer. Therefore, there is no conflicts of interest regarding selling of proprietary
 products sold through the broker/dealer, as Karagosian Financial does not receive any
 compensation for those sales. This is presented in the

Code of Ethics for all supervised persons of the firm describing its high standard of business
conduct, and fiduciary duty to its clients. The Code of Ethics includes provisions relating to the
confidentiality of client information, a prohibition on insider trading, a prohibition of rumor
mongering, restrictions on the acceptance of significant gifts and the reporting of certain gifts
and business entertainment items, and personal securities trading procedures, among other
things. All supervised persons at Karagosian Financial Services, Inc. must acknowledge the terms
of the Code of Ethics annually, or as amended.

 2. Also, clients have the option to purchase investment products that we recommend
 through other brokers or agents not affiliated with KFS.

 3. Currently, none of our revenue is derived from commissions of investment products.

 4. Karagosian Financial only charges a management fee and there is no compensation from
    commissions via securities transactions.

Item 7 – Types of Clients

Karagosian Financial Services, Inc. offers portfolio management services to individuals,
corporate pension and profit-sharing plans, Taft-Hartley plans, charitable institutions,
foundations, endowments, municipalities, registered mutual funds, private investment funds,
trust programs, sovereign funds, foreign funds such as UCITs and SICAVs, and other
U.S. and international institutions. The vast majority of our clients however, are individual. There
are no account minimums at KFS, however, our average AUM per client is approximately
$505,453 and $352,487 per account, respectively.