Liberty Wealth Management LLC

ITEM 5: FEES AND COMPENSATION
Description of Advisory Fees
LWM advisory clients agree to pay an asset-based advisory fee calculated according to the indicated schedule.
Under the Brochure Rule of Investment Advisers Act of 1940, investment advisers are required to provide a written
disclosure statement to their clients. A copy of LWM's Form ADV Part 2A Brochure (“Brochure”), Form ADV Part 3 (the
“Client Relationship Summary” or “Form CRS”), and the applicable Adviser Representative's Part 2B Brochure
Supplement(s) will be provided to clients before or upon execution of an Advisory Agreement. Note: Advisers offering
impersonal investment advice paid less than $500 per year do not have to adhere to the Brochure Rule.
Unless a client has received these disclosure documents at least 48 hours prior to signing their Advisory Agreement,
they may terminate their Agreement with LWM within five (5) business days of Agreement execution, without incurring
any advisory fees.
Fee Negotiation Availability
Under certain circumstances, advisory fees are negotiable subject to certain limitations and approval by LWM. While

                                                                                                         Liberty Wealth Management, LLC
                                                                                                                       Form ADV Part 2A

LWM seeks to facilitate advantageous agreements for clients, to the extent fees are negotiable, some clients may pay
higher (more) or lower fees (less) than other clients for services depending on factors such as account total assets
under management, the number of related investment accounts, inception date, or other considerations, than if they
had contracted directly with another provider. According to the selected advisory services, the final fee structures will
be reflected in each client's written contract. Lower fees for comparable services can, at times, be available from
other sources. In all cases, clients are responsible for any tax liabilities that result from any transactions.
Regardless of fee negotiation availability, under no circumstances will a client be required to pre-pay an LWM advisory
fee more than six months in advance, in excess of $1,200.
The following describes how we are compensated for our advisory services:
Investment Management and Supervisory Services Fees
Fees for investment management and supervisory services are billed and payable quarterly in arrears (or in advance
in some instances if required by any third-party managers employed), based on a percentage of assets under
management as of the last day of the preceding quarter, according to the following schedule:

                                Total Assets Under
                                                                            Annual Fee*
                                   Management
                                   $0 - $1,000,000                               1.25%
                              $1,000,001 - $3,000,000                             1%
                               $3,000,001 - $5,000,000                           .85%
                              $5,000,001 - $10,000,000                           .80%
                             $10,000,001 - $25,000,000                           .70%
                             $25,000,001 - $50,000,000                           .40%
                                 Above $50,000,001                               .30%
                         *Lower fees for comparable services can, at times, be available from other sources.
The foregoing schedule is applied on a marginal tiered basis, with each rate applying only to assets falling within the
corresponding asset range.
Unless otherwise provided in the applicable Agreement or fee schedule, assets under management for fee-calculation
purposes include securities, cash, and cash equivalents held in the Account.
Method of Advisory Fee Payment
Clients have several options to pay their LWM advisory fees and will indicate their preference on the advisory services
contract they execute with LWM. The client may choose to have their fees 1) directly debited from their account
assets held at the custodian or 2) billed by LWM.
         Directly Debited Fees: Clients who wish to have their fees directly debited will authorize LWM in writing
         to deduct advisory fees from their custodial account directly and provide the custodian with authorization
         to deduct such fees along with instructions to remit the fees straight to LWM. If paid directly, the custodian
         will automatically deduct the client's advisory fees due, as instructed by LWM, at the end of each calendar
         quarter, regardless of the market performance of the portfolio during the quarter that just ended. LWM
         urges clients to compare their custodial account statements with any periodic portfolio report or other
         data they may receive from us promptly upon receipt to ensure the accuracy of account transactions.

         Billed Fees: Clients who wish to be directly billed by LWM for their advisory services fees will authorize
         this form of payment in writing on their advisory services contract and request that LWM invoice them
         directly on a quarterly basis for any fees due. Clients will then make their fee payments to LWM by check
         or credit card, and under no circumstance will any LWM advisory fees be deducted from their custodial
         account(s).
Liberty Alternative Asset Management, LLC (“LAAM”)
LAAM acts as a conduit or “feeder” fund to provide Clients the opportunity to invest in the interests of Citizen
Energy Partners Opportunities Fund I, L.P. (“Citizen Fund”), a fund which invests in non-operated working
interests in oil and gas wells. Investments in LAAM are subject to the following fees:
     •   A pro rata portion of the expenses of Citizen Fund based on the assets attributable to LAAM
...

ITEM 7: TYPES OF CLIENTS
LWM primarily provides investment advisory services to individuals, high-net-worth individuals, trusts, estates,
corporations, pensions, profit-sharing plans, charitable organizations, and other business entities.
LWM's minimum asset requirement for investment management and supervisory services, ERISA - retirement and
employee benefit plan account services, and the third-party management program services are $50,000. There is no
minimum account size for 529 college savings, financial planning, or hourly and fixed-fee consulting services.
Participation in LWM's educational seminars and workshops is complimentary and does not require account
establishment. There are no ongoing contribution requirements for client accounts, although this practice is highly
recommended for continuing savings, asset allocation, and tax efficiency.
Clients who participate in LWM's TPM program may also be subject to the independent TPM's account minimums, as
disclosed in each referred manager's Program Agreement. In selecting a referred manager, the client is responsible
for understanding the account minimums, requirements, and fee Agreement they are executing with the TPM.

                                                                                                  Liberty Wealth Management, LLC
                                                                                                                Form ADV Part 2A