Kenneth Frenke & Co Inc

Item 5 Fees and Compensation
General Fee Information
Fees paid to KF & Co. do not include any custodial or transaction costs paid to the client's custodian,
brokers or other third-party consultants. Fees paid to KF & Co. are also separate and distinct from the
fees and expenses charged by mutual funds, ETFs (exchange traded funds) or other investment pools
to their shareholders (generally including a management fee and fund expenses, as described in each
fund's prospectus or offering materials). The client should review all fees charged by funds, brokers,
KF & Co. and others to fully understand the total amount of fees paid by the client for investment and
financial-related services.

Financial Planning Fees
Most financial planning fees range, depending on the complexity of the client's circumstances, between
$1,500 and $5,000. Fees are billed after services are rendered unless otherwise agreed in writing with
the client. KF & Co. does not require the payment of fees six months or more in advance. The client
may terminate the financial planning agreement at any time by providing written notice to KF & Co. If
the engagement is terminated prior to completion of services, the client will only be responsible for fees
associated with services rendered up to the date of termination.

The client may terminate the financial planning agreement at any time by providing written

notice to KF & Co. Upon termination, the client will only be responsible for fees associated

with services rendered up to the date of termination.

Portfolio Management Fees
The annual fee schedule, based on a percentage of assets under management, is as follows:

First $500,000                        1.00%
Next $1,000,000                       0.75%
Next $1,000,000                       0.50%
Balance above $2,500,000              0.25%

KF & Co. may impose a minimum portfolio value for managed accounts and maintains a minimum
annual fee for accounts under management. This minimum annual fee is currently $1,250. KF & Co.
may, at its discretion, make exceptions to the foregoing or negotiate special fee arrangements
where KF & Co. deems it appropriate under unique circumstances.

Portfolio management fees are generally payable quarterly, in arrears (i.e., after services are
rendered), based on the market value of the account on the last business day of the billing period. If
management begins after the start of a quarter, fees will be prorated accordingly. Fees may be
adjusted to account for significant deposits or withdrawals made during the billing period. With client
authorization and unless other arrangements are made, fees are normally debited directly from
client account(s).

If the portfolio management agreement is executed at any time other than the first day of a calendar
quarter, our fees will apply on a pro rata basis, which means that the advisory fee is payable in
proportion to the number of days in the quarter for which you are a client. Advisory fees may be
negotiable depending on factors such as the size of the account, the complexity of the client
relationship, related accounts, and other factors deemed relevant by KF & Co. As a result, similar
clients may pay different advisory fees for similar services.

At our discretion, we may combine the account values of family members living in the same household
to determine the applicable advisory fee. For example, we may combine account values for you and
your minor children, joint accounts with your spouse, and other types of related accounts. Combining
account values may increase the asset total, which may result in your paying a reduced advisory fee
based on the available breakpoints in our fee schedule stated above.

Advisory fees are deducted directly from client accounts pursuant to written authorization from the
client. The qualified custodian holding the client's funds and securities will provide account
statements to the client at least quarterly. These statements will show all disbursements from the
account, including the advisory fee deduction. Clients are encouraged to review these statements

carefully for accuracy.

Either KF & Co. or the client may terminate the Investment Management Agreement at any time in
accordance with the notice provisions of the agreement. In the event of termination, advisory fees
will be prorated based on the number of days services were provided during the billing period. Any
unearned advisory fees will be promptly refunded to the client.

Additional Fees and Expenses
As part of our investment advisory services to you, we may invest, or recommend that you invest, in
mutual funds and exchange traded funds. The fees that you pay to our firm for investment advisory
services are separate and distinct from the fees and expenses charged by mutual funds or exchange
traded funds (described in each fund's prospectus) to their shareholders. These fees will generally
include a management fee and other fund expenses. You will also incur transaction charges and/or
brokerage fees when purchasing or selling securities. These charges and fees are typically imposed by
the broker-dealer or custodian through whom your account transactions are executed. We do not
share in any portion of the brokerage fees/transaction charges imposed by the broker-dealer or
custodian. To fully understand the total cost you will incur, you should review all the fees charged by
mutual funds, exchange traded funds, our firm, and others. For information on our brokerage practices,
refer to the Brokerage Practices section of this brochure.

Other than the advisory fees described in this section and the standard transaction, custodial, or
fund-related expenses described above, KF & Co. does not charge any additional advisory fees.

KF & Co. does not receive 12b-1 fees or any other ongoing distribution or marketing compensation
from mutual funds or other investment products.
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Item 7 Types of Clients
KF & Co. primarily provides investment services to individuals, trusts, and estates.

In general, we do not require a minimum dollar amount to open and maintain an advisory account;
however, we have the right to terminate your Account if it falls below a minimum size which, in our sole
opinion, is too small to manage effectively. We charge a minimum fee in the amount of $1,250 to open
and maintain an advisory account. At our discretion we may waive the minimum fee. We may also
combine account values for you and your minor children, joint accounts with your spouse, and other
types of related accounts to meet the stated minimum.