MBL Wealth LLC

FEES AND COMPENSATION (ITEM 5)
In addition to the information provided in Item 4, this section provides additional details
regarding Our Firm’s services along with descriptions of each service’s fees and compensation
arrangements. It should be noted that lower fees for comparable service may be available

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from other sources. The exact fees and other terms will be outlined in the agreement between
the client and the Firm.
Wealth Management Fees
MBL Wealth charges fees to investment management clients based on a percentage of assets
under management. The specific fees charged by the Firm for its advisory services will be
outlined in each client’s Investment Advisory Agreement. Asset management fees are
calculated and paid quarterly in advance or in arrears, depending on the type of relationship,
and are negotiable depending upon the complexity of the client’s financial situation and the
scope of services rendered.
The percentage fee may increase or decline depending on the value of the assets in the
client’s account(s). At our discretion, We may combine the account values of family members
living in the same household to determine the applicable investment management fee. For
example, We may combine account values for the client and the client’s minor children, joint
accounts with the client’s spouse, and other types of related accounts. Combining account
values may increase the asset total, which may result in the client paying a reduced advisory
fee. Our minimum wealth management relationship annual fee is $40,000, which may be
negotiable under certain circumstances.
The typical fee schedule for the annual tiered management fee charged by MBL Wealth is:
                       $0 to $2,000,000                             0.90%
                       $2,000,001 to $5,000,000                     0.75%
                       $5,000,001 to $10,000,000                    0.60%
                       $10,000,001 to $25,000,000                   0.40%
                       Over $25,000,000                             0.25%
Payment of management fees will be deducted from the client’s account(s) by the qualified
custodian. We will only receive payment from the custodian if the client supplies written
authorization permitting the fees to be paid directly from the account. MBL Wealth will not
have access to client funds for payment of fees without written consent by the client.
The qualified custodian agrees to deliver an account statement, at least quarterly, directly to
the client, showing all disbursements from the account. The client is encouraged to review all
account statements for accuracy. MBL Wealth will receive access to a duplicate copy of the
statement that was delivered to the client.
For the initial period of portfolio management services, the first period’s fees will be calculated
on a pro-rata basis at the end of the initial quarter. The client may terminate the agreement
within five days of entering into the agreement and obtain a full refund. After the five- day
period, either party may terminate the agreement upon a written notice to the other party. Any
pre-paid, unearned fees will be promptly refunded to the client.
Client acknowledges and agrees that there may be variations in the account values used to
calculate the Advisory Fee and the account values on the last day of the previous quarter or

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other period as reflected on the account statement the Client receives from the custodian.
These variations are due to differences in methodologies between the account custodian and
the third-party vendor with whom MBL contracts to calculate fees due for each account. The
variations include, but are not limited to, variations resulting from: (1) unsettled trades; (2)
accrued income; (3) pricing of securities; and (4) dividends earned but not received. Usually,
any differences in account values due to these variations will be relatively small. MBL will not
make any adjustments, refunds, or further assessments of fees based on these differences.
Any Client who has a question about any such difference or any other issue relating to the
calculation of fees is encouraged to contact MBL for an explanation.
Please note that Our receipt of fees for managing client accounts results in several conflicts
of interest. For example, the more assets there are in a client’s advisory account, the more a
client will pay in asset-based fees, and We may, therefore, have an incentive to encourage
clients to increase the assets in their accounts. We address this conflict by ensuring that all
recommendations are in the client’s best interest. Additional conflicts, and how We address
them, are described throughout this Brochure.
Fees for Financial Concierge Services
Financial concierge services are included in the investment management fee for clients who
have $25 million in assets under management with our Firm. This minimum may be waived
at the sole discretion of MBL Wealth.
Fees for Financial Planning Services
Comprehensive financial planning services are included within the investment management
fee, as described in the Wealth Management Fees section above.
Selection of Other Advisers
If we recommend a TPA for a client account, the client will pay both a TPA advisory fee and
our firm's advisory fee which is separate and in addition to the TPA fees. The specific fee due
to the TPA will be disclosed in the client’s agreement with the TPA.
Retirement Plan Consulting Fees
MBL Wealth’s annual investment advisory fee for nondiscretionary retirement plan consulting
services does not usually exceed 1.25% of the total plan assets placed under MBL Wealth’s
advisement with a minimum annual fee of $7,000. If elected by the client, MBL Wealth will
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TYPES OF CLIENTS (ITEM 7)
MBL Wealth provides investment advisory services to individuals, high net worth individuals,
trusts, estates, charitable organizations, businesses, and retirement plans. Our minimum
relationship opening balance is $5,000,000, which may be negotiable based upon certain
circumstances.
METHODS OF ANALYSIS, INVESTMENT STRATEGIES, AND RISK OF LOSS (ITEM 8)
Methods of Analysis and Investment Strategies
MBL Wealth uses the following methods of analysis in formulating and executing our
investment strategy:
Macro-Economic Analysis: We study multiple economic variables in order to strive to help us
improve our understanding of the current economic situation and the potential investment
related outcomes which that may have.
Fundamental Analysis: We use various absolute and relative metrics to help us determine how
attractive a given security (Index / ETF / mutual fund / individual security) may be. We
evaluate this kind of an analysis from historical context by comparing a security to itself over
time. In addition, we also access things from a relative perspective through comparing the
perceived relative attractiveness of various assets classes to one another in the current
environment.
Technical Analysis: We use technical analysis to help gain a better understanding of a given
market or index’s internal strength / weakness, intermediate and long term trend, investor
sentiment, investor positioning and other factors. Technical analysis has a broad range of
uses by market participants. The largest way in which MBL Wealth applies technical analysis
to their client portfolio is as a risk management technique.
Investment Strategies:
MBL Wealth constructs and implements long term, goals based investment strategies for their
clients. A given investors need, ability and willingness to assume market risk are the primary
driving factors to high level asset allocation decisions. This assessment includes but is not
limited to investment goals, risk profile, liquidity needs, client specific tax circumstances,
special circumstances and generational planning.

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MBL Wealth strongly believes in modern portfolio theory by where we strive to maximize
expected returns for a given level of risk and / or minimize risk for a given level of expected
return. Most investors are risk adverse and therefore need to be compensated if they are
going to assume incremental market risk within their portfolio.
MBL Wealth constructs portfolios which are broadly diversified by asset class. This includes
stocks, bonds and uncorrelated assets. Within stocks we recommend gaining exposure to U.S.
large cap equities, U.S. small cap equities, and foreign equities along with some additional
equity sub asset classes. MBL Wealth also achieves ample diversification at the security level
within all asset classes which are held within a client portfolio.
Risk of Investing:
There are always risks to investing. Clients should be aware that all investments are subject
to the potential loss of principal that clients should be prepared to bear. It is impossible to
describe all possible types of risks which may affect investments. Among the risks are the
following:
   •   Market Risks. Markets can, as a whole, go up or down on various news releases or for
       no understandable reason at all. This sometimes means that the price of specific
       securities could go up or down without real reason and may take some time to recover
       any lost value. Adding additional securities does not help to minimize this risk since all
       securities may be affected by market fluctuations.
   •   Currency Risk. Overseas investments are subject to fluctuations in the value of the
       dollar against the currency of the investment’s originating country. This is also referred
       to as exchange rate risk.
   •   Interest Rate Risk. Movements in interest rates may directly cause prices of fixed
       income securities fluctuate. For example, rising interest rates can cause “high quality,
       relatively safe” fixed income investments to lose principal value.
   •   Credit Risk. If debt obligations held by an account are downgraded by ratings agencies
       or go into default, or if management action, legislation or other government action
       reduces the ability of issuers to pay principal and interest when due, the value of those
       obligations may decline, and an account’s value may be reduced. Because the ability
       of an issuer of a lower-rated or unrated obligation (including particularly “junk” or “high
       yield” bonds) to pay principal and interest when due is typically less certain than for an
       issuer of a higher-rated obligation, lower rated and unrated obligations are generally
       more vulnerable than higher-rated obligations to default, to ratings downgrades, and
       to liquidity risk.
   •   Purchasing Power Risk. Purchasing power risk is the risk that an investment’s value
       will decline as the price of goods rises (inflation). The investment’s value itself does
       not decline, but its relative value does. Inflation can happen for a variety of complex
       reasons, including a growing economy and a rising money supply.
   •   Liquidity Risk. Liquidity is the ability to readily convert an investment into cash. For
       example, Treasury Bills are highly liquid, while real estate properties are not. Some

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       securities are highly liquid while others are highly illiquid. Illiquid investments carry
       more risk because it can be difficult to sell them.
   •   Political Risks. Most investments have a global component, even domestic stocks.
       Political events anywhere in the world may have unforeseen consequences to markets
       around the world.
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