MacroView Investment Management LLC

ITEM 5 - FEES AND COMPENSATION

        1. Personal Wealth Management

We charge for investment management services based on a percentage of assets under
management. Our investment management fee for Personal Wealth Management accounts
generally does not exceed 1.5% annually and is negotiable depending on factors such as amount of
assets the client has in separate accounts under management with us, the amount of assets in
related separate accounts, our relationship with the client, and the complexity of the client’s
situation. We believe our fees for advisory services are reasonable with respect to the services
provided and the fees charged by other investment advisers offering similar services. However,
lower fees for comparable services may be available from other sources.

Fees are billed quarterly in arrears and calculated based on the net value of the account as
determined by the account custodian on the last day of the billing period. MIM will adjust the
management fee for capital inflows and outflows during the billed quarter. If an agreement for
services is executed mid-period, the initial fee is prorated based on the number of days those
services were provided. Likewise, if the advisory relationship is terminated during a billing period,
we charge a prorated fee based on the number of days those services were provided prior to the
date of the termination. The client can terminate our services immediately, at any time by providing
us with written notice. MacroView can terminate its relationship with a client upon 30 days’ advance
written notice.

In most cases, with client consent, fees are automatically deducted from the Personal Wealth
Management account by the account’s custodian, who then pays the fees directly to MacroView.
(Not all custodians permit this arrangement.) The custodian sends each client an account statement
at least quarterly showing all disbursements from the account, including MacroView’s advisory fees.

MacroView will buy shares of load, no-load or load-waived open-end mutual funds, closed-end funds,

MacroView Investment Management LLC                                               Disclosure Brochure

or exchange-traded funds for a client's account. In such cases, in addition to paying advisory fees
to MacroView, the client must pay a proportionate amount of the mutual fund's operating expenses,
including management fees paid to the fund's adviser. In addition, all Personal Wealth Management
accounts incur brokerage and other transaction costs and will, depending on the circumstances,
incur custody, account maintenance fees, mutual fund sales loads, or 12b-1 fees. Please refer to

ITEM 7 - TYPES OF CLIENTS

MacroView provides investment advice to individuals, including high net worth individuals, and to
corporations or other business entities, non-profit organizations, and pension and profit-sharing
plans.

MacroView requires a $300,000 minimum to establish a Personal Wealth Management account,
although we are available to discuss and grant exceptions to this minimum based on a client’s
current and historical relationship with us or anticipated additional deposits to the account.
Clients can aggregate or “bundle” multiple accounts per person and multiple family members to
reach the required minimum.

MacroView also offers sub-advisory or consulting services to unaffiliated investment advisors as set
forth in Item 4, Section 2b and 2c above.