Maloon Powers Pitre Higgins & Dennehy LLC

ITEM 5            FEES AND COMPENSATION

INVESTMENT SUPERVISORY SERVICES ("ISS") INDIVIDUAL PORTFOLIO MANAGEMENT FEES
The annualized fee for Investment Supervisory Services are charged as a percentage of assets under management, billed
quarterly according to the following schedule:

                            Assets Under Management                  Annual Fee       Quarterly
                                                                     Rate             Fee Rate
                            $100,000 - $299,999                      1.2%             .3%
                            $300,000 - $749,999                      1.0%             .25%
                            $750,000 - $1,499,999                    0.8%             .2%
                            $1,500,000 - $2,999,999                  0.7%             .175%
                            $3,000,000 - $5,999,999                  0.6%             .15%
                            $6,000,000 - $9,999,999                  0.5%             .125%
                            Over $10,000,000                         0.4%             .1%

A minimum of $100,000 of assets under management is required for this service. This account size may be negotiable
under certain circumstances. California Financial Advisors may group certain related client accounts for the purposes of
achieving the minimum account size and determining the annualized fee.

Limited Negotiability of Advisory Fees: Although California Financial Advisors has established the aforementioned fee
schedule(s), we retain the discretion to negotiate alternative fees on a client-by- client basis. Client facts, circumstances
and needs are considered in determining the fee schedule. These include the complexity of the client, assets to be placed
under management, anticipated future additional assets; related accounts; portfolio style, account composition, reports,
among other factors. The specific annual fee schedule is identified in the contract between the adviser and each client.

We may group certain related client accounts for the purposes of achieving the minimum account size requirements and
determining the annualized fee.

Discounts, not generally available to our advisory clients, may be offered to family members and friends of associated
persons of our firm.

FINANCIAL PLANNING FEES
California Financial Advisors' Financial Planning fee is determined based on the nature of the services being provided and
the complexity of each client's circumstances. All fees are agreed upon prior to entering into a contract with any client.

Our Financial Planning fees are calculated and charged on an hourly basis, ranging from $150 to $450 per hour. Although
the length of time it will take to provide a Financial Plan will depend on each client's personal situation, we will provide
an estimate for the total hours at the start of the advisory relationship.

Financial Planning Fee Offset: California Financial Advisors reserves the discretion to reduce or waive the hourly fee
and/or the minimum fixed fee if a financial planning client chooses to engage us for our Portfolio Management Services.

CONSULTING SERVICES FEES
California Financial Advisors' Consulting Services fee is determined based on the nature of the services being provided
and the complexity of each client's circumstances. All fees are agreed upon prior to entering into a contract with any
client.

Our Consulting Services fees are calculated and charged on an hourly basis, ranging from $150 to $450 per hour. An
estimate for the total hours is determined at the start of the advisory relationship.

Fees are due and payable upon completion of the Consulting Service.

Some management personnel and other related persons of our firm are licensed as insurance agents. In their separate
capacity(ies), these individuals are able to implement insurance recommendations for advisory clients for separate and typical
compensation (i.e., commissions or other sales-related forms of compensation). This presents a conflict of interest to the
extent that these individuals recommend that a client invest in a policy which results in a commission being paid to the
individual. Clients are not under any obligation to engage these individuals when considering implementation of advisory
recommendations. The implementation of any or all recommendations is solely at the discretion of the client.

GENERAL INFORMATION
Termination of the Advisory Relationship: A client agreement may be canceled at any time, by either party, for any
reason upon receipt of written notice. As disclosed above, certain fees are paid in advance of services provided. Upon
termination of any account, any prepaid, unearned fees will be promptly refunded. In calculating a client's reimbursement
of fees, we will pro rate the reimbursement according to the number of days remaining in the billing period.

Mutual Fund Fees: All fees paid to California Financial Advisors for investment advisory services are separate and
distinct from the fees and expenses charged by mutual funds and/or ETFs to their shareholders. These fees and expenses
are described in each fund's prospectus. These fees will generally include a management fee, other fund expenses, and a
possible distribution fee. If the fund also imposes sales charges, a client may pay an initial or deferred sales charge. A
client could invest in a mutual fund directly, without our services. In that case, the client would not receive the services
provided by our firm which are designed, among other things, to assist the client in determining which mutual fund or
funds are most appropriate to each client's financial condition and objectives. Accordingly, the client should review both
the fees charged by the funds and our fees to fully understand the total amount of fees to be paid by the client and to
thereby evaluate the advisory services being provided.
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ITEM 7            TYPES OF CLIENTS

California Financial Advisors provides advisory services to the following types of clients:
 Individuals (other than high net worth individuals)
 High net worth individuals
 Charitable organizations
 Corporations or other businesses not listed above

As previously disclosed in Item 5, our firm has established certain initial minimum account requirements, based on the
nature of the service(s) being provided. For a more detailed understanding of those requirements, please review the
disclosures provided in each applicable service.