Lake Road Advisors LLC

Item	5:	Fees	and	Compensation
Please note, unless a client has received the firm’s disclosure brochure at least 48 hours prior to signing
the investment advisory contract, the investment advisory contract may be terminated by the client
within five (5) business days of signing the contract without incurring any advisory fees. How we are
paid depends on the type of advisory service we are performing. Please review the fee and
compensation information below, as well as the specific fee schedule contained in the investment
advisory contract of the client.

Investment	Advisory	Services	&	Comprehensive	Financial	Planning
The standard advisory fee is based on a percentage of assets under management and is calculated as
follows:

                      Account Value                                 Annual Advisory Fee
                  $0 to $1,000,000                                         1.25%
                  $1,000,001 to $2,000,000                                 1.10%
                  $2,000,001 to $3,000,000                                 0.95%
                  $3,000,001 to $4,000,000                                 0.85%
                  $4,000,001 to $6,000,000                                 0.75%
                  $6,000,001 to $10,000,000                                0.65%
                  $10,000,000+                                             Negotiable

The annual advisory fees are negotiable and are prorated and paid in arrears on a quarterly basis, based
on the average daily balance of the account during the previous quarter. The minimum account value
required to open and maintain an account with LRA is $500,000, subject to negotiation. The Outside
Manager will debit the client’s account for both the Outside Manager’s fee and LRA’s advisory fee and
will remit LRA’s fee to LRA. Please note, the above fee schedule includes the Outside Manager’s fee.

Accounts initiated or terminated during a calendar quarter will be charged a pro-rated investment
advisory fee based on the amount of time remaining in the billing period. An account may be terminated
with written notice. Since investment advisory fees are paid in arrears, no refund will be needed upon
termination of the account(s); however, the client will be responsible for paying LRA and the Outside
Manager a pro-rated investment advisory fee based on the number of days in the quarter before the
termination date during which the client received the advisory services described above.

                                      Date of Brochure: January 14, 2026

Comprehensive	Financial	Planning	Only
Comprehensive Financial Planning consists of an upfront fee of $3,000 - $6,000. Concurrently, there is
also an ongoing fee which is paid quarterly, in advance, at the rate of $750 - $2,000 per quarter. LRA
will not bill an amount above $1,200 more than 6 months in advance. The fee may be negotiable in
certain cases. Due to the level of work conducted at the beginning of this service, a 12 month
commitment is required. This service may be terminated upon written notice. If the Client terminates
before the expiration of the 12 month commitment, no previously-paid fees shall be refunded to Client
but Adviser shall not charge any further fees after the termination date. Terminations after the 12
month period will be prorated and any refund, if applicable will be provided to the Client. The
engagement automatically terminates at the conclusion of the 12-month engagement. Clients are
welcome to re-engage LRA for another year engagement. Annual fees will be re-assessed at that time,
but generally can be up to $2,000/quarter in advance based on Client complexity and will be outlined
in the Client Agreement.
Pension	Consulting	Services
The standard advisory fee for Pension Consulting Services is based on the market value of the account
and is calculated as follows:

                          Plan Assets                              Annual Advisory Fee
                          $0 to $1,000,000                                 0.60%
                     $1,000,001 to $2,499,999                              0.55%
                     $2,500,000 to $4,999,999                              0.50%
                      $5,000,000 to $5,999,999                             0.45%
                      $6,000,000 +                                         0.36%

Clients will be billed on a quarterly basis in arrears based on the market value of the account as of the
last day of the previous quarter. Accounts initiated or terminated during a calendar quarter will be
charged a pro-rated advisory fee based on the amount of time remaining in the billing period. LRA
requires 30 days’ advance notice for termination of this service. Since fees are paid in arrears, upon
termination, no refund will be due. Any prorated amount will be calculated and billed to the client for
payment.

Other	Types	of	Fees	and	Expenses
When implementing an investment recommendation, the client may incur additional fees such as
brokerage commissions, transaction fees, and other related costs and expenses. Clients may incur
certain charges imposed by broker dealers, and other third parties such as 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 fund and exchange traded funds also
charge internal management fees, which are disclosed in a fund’s prospectus. Such charges,

                                      Date of Brochure: January 14, 2026

fees and commissions are exclusive of and in addition to our fee, and we shall not receive any portion
of these commissions, fees, and costs. Clients receiving Pension Consulting Services will also typically
be charged an initial plan setup fee and annual administration fee by the plan’s third-party platform
...

Item	7:	Types	of	Clients
We provide financial planning, portfolio management services to individuals, high net-worth
individuals, and pension and profit sharing plans
The minimum account value required to open and maintain an account with LRA is $500,000, subject to
negotiation.

                                    Date of Brochure: January 14, 2026