Legacy Financial Advisors Corporation

Item 5 – Fees and Compensation

                                      Wealth Management Fees

Accounts that are managed by Legacy will be charged based on a percentage of assets under
management. When Legacy manages Client assets, the wealth management fee (as outlined) is the
only fee charged by Legacy, and Legacy will not charge an additional fee for estate planning or
general financial consulting. The wealth management fee percentage is dependent on the scope
and extent of services provided and the value of assets managed. The wealth management fees for
Clients of Legacy are negotiable and typically fall into a range between .70 % and 1.25%. Fees are
determined at the outset of the advisory relationship when an advisory contract is executed with
the Client. Fees are billed at the beginning of each quarter and collected in advance.

                                    Private Money Manager Fees

Private Money Managers charge fees for consulting and administrative services, as do the
underlying individual money managers. These fees, which are calculated as a percentage of assets
under management and vary by money manager, are in addition to the fees charged by Legacy and
will be fully disclosed prior to the Client signing a Private Money Manager’s agreement. Clients
should review the Private Manager’s Form ADV, Part 2A for a full description of all fees. The
clearing firm that holds the accounts may charge transaction fees to the Client to buy or sell
individual stocks or mutual funds. These fees are not shared with Legacy nor does Legacy receive a
sales commission on transactions executed by the private manager’s clearing firm. Transactions

costs and/or ticket charges generated from the Private Money Manager’s trading will be the
responsibility of the Client.

              Conditions for Managing Accounts & General Information about Fees

Legacy Financial Advisors has a targeted investment minimum of $500,000 of investable assets per
household. This minimum may be waived in certain instances. Account minimums for Private
Money Managers are listed in their respective Form ADV, Part 2A.

The specific way fees are charged by Legacy is established in the Client’s written agreement with
Legacy. Clients may elect to be billed directly for fees or to authorize Legacy to directly debit fees
from Client accounts for investment management. Fees will be billed at the end of the calendar
quarter that the client initiated their wealth management engagement with Legacy. Fees are billed
in advance for the upcoming quarter with inception fees being calculated and charged a prorated
fee on each deposit. If a client terminates their engagement with Legacy, fees will be returned
based on the remainder of the quarter after the termination is in effect.

A Client agreement may be canceled at any time, by either party, for any reason upon receipt of 30
days written notice. Upon termination of any account, any prepaid, unearned fees will be promptly
refunded, and any earned, unpaid fees will be due and payable. The Client has the right to
terminate an agreement without penalty within five business days after entering into the
agreement.

Item 7 – Types of Clients

Legacy provides portfolio management services primarily to individuals and various family trusts,
as well as charitable institutions, foundations, and endowments.