Margolis Brady Raghavan Financial Inc

ITEM 5. FEES AND COMPENSATION

    Financial Planning

    MBR charges financial planning fees on a flat or hourly basis, given the estimated time to complete
    the desired scope of work identified by the client. Financial planning fees are typically paid in
    advance. Hourly charges are assessed as work is conducted (with rates ranging from $150 to $500
    per hour). Planning clients sign a Financial Planning Agreement that shows the total fixed fee or
    the estimated total hourly fee for the plan and defines the amount to be prepaid. These fees are
    charged in addition to the investment management fee shown below if clients choose to have MBR
    manage their investments. Clients are free to have their investments managed elsewhere.

    Investment Management

    MBR’s investment management fee is based on the value of assets under management, as described
    below, which is adjusted up or down based on the complexity of the client’s situation.

            Assets Under Management                       Maximum Annual Fee
                   $0-$1,000,000                                1.00%
             $1,000,001 - $2,000,000                            0.80%
             $2,000,001 - $5,000,000                            0.75%
             $5,000,001 - $10,000,000                           0.50%
                Above $10,000,000                             Negotiable

    Muni Account & Variable Annuity Fee Schedule: (Please Note: These assets are predominantly
    municipal securities or cash equivalents)

            Assets Under Management                       Maximum Annual Fee
                    All Assets                                  0.50%

    Alternative Investment & Private Placement Fee Schedule: (Please Note: These assets are not
    considered Regulatory Assets Under Management for reporting purposes)

            Assets Under Management                       Maximum Annual Fee
                  $0 - $5,000,000                               0.75%
                Above $5,000,000                              Negotiable

    Cryptocurrencies Fee Schedule:

            Assets Under Management                       Maximum Annual Fee
                    All Assets                                  0.75%

    For billing purposes, client portfolios are “aggregated” as long as those clients are part of the same
    family, even if they are in different households. Clients are billed quarterly in advance at the rate
    of one fourth of the annual fee shown above; typically, the fee is deducted from clients’ accounts.
    Fees are calculated on the portfolio valuation, as determined by MBR’s portfolio management

                                                                   Part 2A of Form ADV: Firm Brochure
                                                                                       MBR Financial

system, at the close of market on the last business day of each previous quarter. Account values
reported on custodial statements may differ from those values recorded by MBR’s system. If a
client should engage MBR during a quarter, the initial fee will be charged at the beginning of the
next quarter. Fees are calculated from the date of the initial funding of the account or the date of
execution of the client’s investment management agreement, whichever is later. The investment
management fee is charged on cash and accrued interest in the account and is typically deducted
before the tenth day of the first month in the quarter. MBR’s fee schedule may change in the future
and any such changes will be applicable to clients after 30 days’ advance written notice.

MBR recommends certain qualified clients to invest in alternative investments (which include co-
investments), which are not held by qualified custodians and are not priced by qualified custodians.
The value of the alternative investment(s), as reported by the fund manager on a quarterly basis, is
included in MBR’s base calculation of its investment management fee, and often lags our billing
schedule, so frequently the value shown for the alternative investment is for an earlier date. This
investment management fee (0.75%/year) is in addition to the fee charged by the entity making the
investment decisions for the alternative investment.

MBR, in its sole discretion, may charge a lesser investment management fee based upon certain
criteria (e.g., historical relationship, type of assets, anticipated future earning capacity, anticipated
future additional assets, dollar amounts of assets to be managed, related accounts, account
composition, negotiations with Clients, etc.).

MBR’s investment management fee is separate from transaction, exchange, wire transfer, margin
interest, account, or any other fees charged by the custodian.

Implementation with Mutual Funds/ETFs/or Individual Securities: When MBR recommends a
security for a client’s account, three separate fees are generally charged to the client, either directly
or indirectly:

The first fee is MBR’s investment management fee, in which the fund is included in the asset base
for the quarterly fee calculation.

The second is the set of internal fees charged by the investment company for the fund’s investment
management, marketing, administration, and marketing assistance. These internal expenses are
disclosed in each fund’s prospectus, provided to each client by the custodian. (This set of fees also
applies to any exchange traded fund (“ETF”) or money market fund purchased in the client’s
account.)

The third fee is a transaction fee assessed by the custodian for providing access to a universe of
mutual fund families or ETFs through one account. To avoid such fees, a client would be required
to open a separate account with each individual mutual fund company or sponsor instead of using
the custodian recommended by MBR, although this could negatively affect MBR’s ability to
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ITEM 7. TYPES OF CLIENTS

    MBR provides investment advisory services to:

        •   Individuals and families
        •   High net worth individuals
        •   Pension and profit-sharing plans

    The minimum account size for investment management services is $1,000,000, although this is
    negotiable.