Long Run Wealth Advisors LLC

Item 5. Fees and Compensation
      Long Run offers services on a fee basis, which includes fees based upon assets under management or
      advisement and fixed fees. Additionally, certain of the Firm’s Supervised Persons, in their individual
      capacities, offer insurance products under a separate commission-based arrangement.

      Investment and Wealth Management Fees

      Long Run offers investment and wealth management services for an annual fee based on the amount of
      assets under the Firm’s management or advisement. These fees vary between 50 and 150 basis points
      (0.50%–1.50%), depending upon amount of assets within a client’s portfolio, the composition of a client’s
      portfolio, the type and amount of advisory services rendered, and the individual(s) providing the services.
      The annual fee is prorated and charged quarterly, in advance, based upon the market value of the assets
      being managed by Long Run on the last day of the previous billing period as determined by a party
      independent from the Firm (including the client’s custodian or another third-party).

      If assets in excess of $5,000 are deposited into or withdrawn from an account after the inception of a billing
      period, the fee payable with respect to such assets is adjusted to reflect the interim change in portfolio value.
      For the initial period of an engagement, the fee is calculated on a pro rata basis. In the event the Advisory
      Agreement is terminated, the fee for the final billing period is prorated through the effective date of the
      termination and the outstanding or unearned portion of the fee is charged or refunded to the client, as
      appropriate.

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 Disclosure Brochure

      Additionally, for asset management services the Firm provides with respect to certain client holdings (e.g.,
      held-away assets, accommodation accounts, alternative investments, etc.), Long Run can negotiate a fee
      rate that differs from the range set forth above. Clients are advised that a conflict of interest exists for the
      Firm to recommend that clients engage Long Run for additional services for compensation, including
      rolling over retirement accounts or moving other assets to the Firm’s management. Clients retain absolute
      discretion over all decisions regarding engaging the Firm and are under no obligation to act upon any of the
      recommendations.

      Financial Planning Fees

      Long Run charges a fixed fee for providing financial planning and consulting services either under a stand-
      alone engagement or as part of a comprehensive wealth management engagement. For wealth management
      clients with $500,000 or more under the Firm’s investment management, the Firm’s financial planning and
      consulting services are included in its annual fee based on the amount of assets under management.

      The Firm’s financial planning and consulting fees vary depending upon the scope and complexity of the
      services and the professional rendering the financial planning and/or consulting services. The fee can be for
      a defined project, such as the delivery of a plan, or for ongoing services. Project-based fees range from
      $1,000 to $10,000. Where the Firm charges project-based fees, it requires one-half of the fee (estimated
      hourly or fixed) payable upon execution of the Advisory Agreement with the outstanding balance is due
      upon delivery of the financial plan or completion of the agreed-upon services. Fees for on-going services
      are charged in advance and range from $250 to $2,000 on a quarterly basis. The Firm does not take receipt
      of $1,200 or more in prepaid fees, six or more months in advance of services rendered. If the client engages
      the Firm for additional investment advisory services, Long Run can offset all or a portion of its fees for
      those services based upon the amount paid for the financial planning and/or consulting services.

      Retirement Plan Consulting Fees

      Long Run charges a fee based on assets under advisement to provide clients with retirement plan consulting
      services. Each engagement is individually negotiated and tailored to accommodate the needs of the
      individual plan sponsor, as memorialized in the Agreement. These fees vary, based on the scope of the
      services to be rendered.

      Fee Discretion

      Long Run may, in its sole discretion, negotiate to charge a lesser fee based upon certain criteria, such as
      anticipated future earning capacity, anticipated future additional assets, dollar amount of assets to be
      managed, related accounts, account composition, pre-existing/legacy client relationship, account retention,
      pro bono activities, or competitive purposes.

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 Disclosure Brochure

      Additional Fees and Expenses

      In addition to the advisory fees paid to Long Run, clients also incur certain charges imposed by other third
      parties, such as broker-dealers, custodians, trust companies, banks, and other financial institutions
      (collectively “Financial Institutions”). These additional charges include securities brokerage commissions,
      transaction fees, settlement charges, custodial fees, fees charged by the Independent Managers, reporting
      charges, margin and other borrowing costs, charges imposed directly by a mutual fund or ETF in a client’s
      account, as disclosed in the fund’s prospectus (e.g., fund management fees and other fund expenses),
      deferred sales charges, odd- lot differentials, transfer taxes, wire transfer and electronic fund fees, mark-
      ups and/or mark-downs on fixed income investments. and other fees and taxes on brokerage accounts and
      securities transactions. The occasional payment of such fees by Long Run does not create an on-going
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Item 7. Types of Clients
      Long Run offers services to individuals, high-net-worth individuals, business owners, non-profits,
      endowments, foundations, and retirement plans.