Kelman Lazarov Inc

Item 5: Fees & Compensation
Asset Management
K-L Asset Management Program
In this program, accounts pay a Management Fee to Kelman-Lazarov, Inc., and they pay the additional transaction
related costs, such as brokerage commissions, and fees for clearance, settlement and custodial services in the
account. K-L does not share in these transaction-related charges; however, please refer to the discussion under
Recommendations by the Representative; Purchase from Other Firms and in Item 10 regarding 12b-1 Fees (and
other compensation) for additional information. K-L Representatives will receive compensation in their separate
capacity as a registered representative of a broker-dealer if the Client purchases securities or insurance products
outside of an account K-L manages. Additionally, this program may utilize NTF mutual funds and ETFs based on the
K-L investment team’s discretion, and the Client will not incur transaction charges with respect to any ETFs or mutual
funds purchased on a no transaction fee basis.

Please see Item 12: Brokerage Practices for additional information on transaction charges for the execution of Client
securities transactions.

The maximum Management Fee associated with this program, negotiable at the discretion of Kelman-Lazarov, Inc.,
is 1.15% per annum, payable quarterly in advance, based on the value of the account on the last business day of
March, June, September, and December, or other such time-period as agreed upon by K-L and the Client.

For any ETFs or mutual funds that are not purchased on a no transaction fee basis, the transaction charge is paid at
the time the order is placed. Refer to the discussion below under Transaction Charges; Additional Fees and Charges
for information about the transaction charges, as well as information about Miscellaneous Expenses that the
Client’s account will also incur.

Traditional Asset Management Program
In this program, accounts pay a Management Fee to Kelman-Lazarov, Inc, and they pay the additional transaction-
related costs, such as brokerage commissions, and fees for clearance, settlement and custodial services in the
account. K-L does not share in these transaction-related charges; however, please refer to the discussion under
Recommendations by the Representative; Purchase from Other Firms and in Item 10 regarding 12b-1 Fees (and
other compensation) for additional information. K-L Representatives will receive compensation in their separate
capacity as a registered representative of a broker-dealer if the Client purchases securities or insurance products
outside of an account K-L manages.

Please see Item 12: Brokerage Practices for additional information on transaction charges for the execution of Client
securities transactions.

The maximum Management Fee associated with this program, negotiable at the discretion of Kelman-Lazarov, Inc.,
is 1.15% per annum, payable quarterly in advance, based on the value of the account on the last business day of
March, June, September, and December, or other such time-period as agreed upon by K-L and the Client.

Transaction charges are paid at the time the order is placed. Refer to the discussion below under Transaction
Charges; Additional Fees and Charges for information about the transaction charges, as well as information about
Miscellaneous Expenses that the Client’s account will also incur.

Select Asset Management Program
In this program, accounts pay a Management Fee to Kelman-Lazarov, Inc., and they pay the additional transaction-
related costs, such as brokerage commissions, and fees for clearance, settlement and custodial services in the
account. K-L does not share in these transaction-related charges; however, please refer to the discussion under
Recommendations by the Representative; Purchase from Other Firms and in Item 10 regarding 12b-1 Fees (and
other compensation) for additional information. K-L Representatives will receive compensation in their separate
capacity as a registered representative of a broker-dealer if the Client purchases securities or insurance products
outside of an account K-L manages. Additionally, this program emphasizes the use of NTF mutual funds and ETFs,
and the Client will not incur transaction charges with respect to any ETFs or mutual funds purchased on a no
transaction fee basis.

Please see Item 12: Brokerage Practices for additional information on transaction charges for the execution of Client
securities transactions.

The maximum Management Fee associated with this program, negotiable at the discretion of Kelman-Lazarov, Inc.,
is 1.15% per annum, payable quarterly in advance, based on the value of the account on the last business day of
March, June, September, and December, or other such time-period as agreed upon by K-L and the Client.

In implementing the asset allocation models for accounts participating in the Select Asset Management Program,
K-L generally seeks ETFs and mutual funds available on a no transaction fee (“NTF”) basis. Reduced transaction
fees allow for cost-effective and efficient management of these accounts, although the ETFs and mutual funds may
carry higher expense ratios.

For any ETFs or mutual funds that are not purchased on a no transaction fee basis, the transaction charge is paid at
the time the order is placed. Refer to the discussion under Transaction Charges; Additional Fees and Charges for
information about the transaction charges, as well as information about Miscellaneous Expense that the Client’s
account will also incur.

Payment of Management Fees
Related accounts may be aggregated to obtain a better fee discount or breakpoint. Deposits to and withdrawals
from the account during the quarter are subject to proration over the quarter in determining fee calculation. If
management begins after the start of a quarter, fees will be prorated accordingly. Fees are normally debited directly
...

Item 7: Types of Clients
K-L serves individuals, pension and profit-sharing plans, corporations, trusts, estates, and charitable organizations.
K-L may, at its discretion, make exceptions to the foregoing or negotiate special fee arrangements where K-L deems
it appropriate under the circumstances. We do not impose a formal minimum account size or minimum fee to open
or maintain an account. However, our services are generally designed for clients with approximately $1,000,000 or
more in investable assets. We may accept clients with lower asset levels at our discretion, particularly in cases
involving existing relationships or referrals.