Marquette Asset Management LLC

ITEM 5 – FEES AND COMPENSATION
Wealth management relationships

Our standard annual fee for wealth management relationships is based on the market value of
assets managed as follows:
       1.00% on the first $3,000,000
       0.75% on the next $2,000,000
       0.50% thereafter

We will consider accounts within a family relationship as combined for fee calculation purposes
in appropriate cases. We reserve the right to charge additional fees for extraordinary services.
We offer a 10% discount on portfolios for charitable and non-profit entities.

Neither our firm nor its employees receive 12b-1 fees, loads, or kickbacks, nor do we benefit in
any way from other types of fee-sharing arrangements from the funds or other providers we
utilize on our clients’ behalf.

Our fees do not include fund-level management or administrative fees, trading expenses
charged by brokers, custodians, mutual funds, exchange traded funds or other third-party
managers.

Investment trust advisor accounts
Our standard annual fee for Investment Trust Advisor accounts is based on the market value of
assets managed as follows:
        1.15% on the first $3,000,000
        0.90% on the next $2,000,000
        0.65% thereafter
 Less the investment trust advisor fee charged by Bell Bank.

Self-directed accounts
We may allow clients to open self-directed accounts to hold securities for which we have no
investment responsibility or discretion. We reserve the right to charge an annual fee of 0.10%
of the market value to cover administrative expenses.

Calculation and Billing Process
Our annual fee is charged quarterly, in arrears. Wealth management fees for accounts held at
Schwab are charged based on the average daily market value of the assets and cash in the
account during the prior calendar quarter. The average daily balance of funds borrowed on
margin against the holdings of the account (“margin balance”) are added back to the account
for purposes of determining the average daily market value of the account.

Investment trust advisor fees for accounts held at Bell Bank are charged monthly or quarterly
based on the average daily market value of the assets and cash in the account during the prior
period.

Our fees for accounts held elsewhere are charged at the end of each calendar quarter based
on the market value of the assets and cash in the account on the last day of the calendar
quarter.

If an account is opened after the start of, or terminated prior to the end of, a quarter, the fee for
such quarter is prorated based on the number of days during the quarter the account is open.
Quarterly fees for accounts held elsewhere are pro-rated to reflect inflows or outflows in
excess of 10% of the value on the first day of the quarter.

Fee rates are guaranteed for a period of one (1) year after the investment management
agreement is signed by us. Thereafter, fees may be changed with thirty (30) days’ written
notice.

Other fees and expenses
Schwab serves as our preferred qualified custodian for our clients’ accounts. To the extent
Schwab imposes a trading fee, clients are responsible for paying the expenses from their
accounts. Other fees, such as most cashiering and market-value-based fees for principal and
income accounting for certain agency accounts, are included in the fees we charge. Clients
pay Schwab a flat custody fee for certain alternative assets, an $8.50 overnight check fee, and
$25 processing fee for wire transfers requiring paper-based authorizations or Docusign.

Clients are not required to use Schwab as the custodian for their account and may negotiate
such services and fees with other custodians of their choice. We reserve the right to charge
additional fees as appropriate if clients choose a custodian other than Schwab.

ITEM 7 – TYPES OF CLIENTS
We provide wealth management services to high net worth and other individuals and their
trusts, private foundations, donor-advised funds, and other entities.

We provide portfolio management services to 401(k) and profit-sharing plans, charitable
institutions, corporations, business entities, foundations, and donor advised funds.