Lawrence W Kelly & Associates Inc

Item 5: Fees and Compensation

Account Management Fees
Our fees for investment management services are based on a percentage of assets under
management. All fees on new accounts are payable quarterly in advance. Our fee is based on a
valuation of the account on the last business day of the prior quarter or the start of our
management services. Most fees are deducted from the client’s account as authorized by a
client’s written standard authorization with the custodian. However, a client can elect to pay its
investment management fees itself upon receipt of LK&A’s invoice. LK&A provides clients
with quarterly fee invoices containing the portfolio value and fee calculation. Fees for partial
periods are pro rated based on the number of days in the partial period as compared to the
number of days in a complete calendar quarter. In the case of an account termination, any excess
fees collected are automatically rebated to the client. Below is our standard fee schedule:

Assets Under Management                           Annual Advisory Fee
First $10 million                                 1.00%
Next $10 million                                  0.75%
All additional amounts                            0.65%

We reserve the right to negotiate fees. Some clients pay more or less than others depending on
various factors, including but not limited to the mix of assets in the account, the account
objectives and the total amount of assets managed for the client and the client’s related entities
and related individuals. The fees that we charge for investment advisory services are specified in
our Investment Management Agreement between LK&A and the client.

Other Fees and Expenses
Clients will pay other expenses in addition to the fees paid to LK&A. For example, clients may
pay costs such as brokerage commissions, transaction fees, custodial fees, transfer taxes, wire
transfer fees, and other fees and taxes charged to brokerage accounts, custodial accounts and
securities transactions which are unrelated to the fees collected by LK&A. The choice of who
acts as a client’s custodian is entirely the client's decision. (Item 12 provides more information
on our brokerage practices.)

Additional Compensation

Neither the firm nor its employees accept compensation from any person for the purchase or sale
of securities.

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Lawrence W. Kelly & Associates, Inc.
Form ADV Part 2A – Disclosure Brochure
March 24, 2026

Item 7: Types of Clients

LK&A primarily provides investment management services to high net-worth individuals. We
also have as clients other individuals, trusts of various types, foundations and limited liability
companies.

We usually do not accept new client relationships under $5 million. However, LK&A has no
formal minimum account size.