MFP Financial Services LLC

Item 5: Fees & Compensation

Compensation for Our Advisory Services

Asset Management:

The maximum annual fee to be charged to the client’s account(s) will not exceed 2.00%. The fee to be
assessed to each account will be detailed in the client’s signed advisory agreement, LPL Account
Application or LPL Tiered Fee Authorization form. Fees are billed on a pro-rata basis quarterly in
advance based on the value of the account(s) on the last day of the previous quarter. Fees are
negotiable and will be deducted from the account(s). Adjustments will be made for deposits and
withdrawals during the quarter. If accounts are opened during the quarter, the pro-rata advisory fees
will be deducted during the next regularly scheduled billing cycle. In rare cases, our firm will agree
to direct bill clients. As part of this process, Clients understand the following:

    a) LPL as the client’s custodian sends statements at least quarterly, showing all disbursements
       for each account, including the amount of the advisory fees paid to our firm;
    b) Clients provide authorization permitting LPL to deduct these fees;
    c) LPL calculates the advisory fees for all fee schedules and deducts them from the client’s
       account.

The maximum annual fee charged to clients utilizing Third Party Managers will not exceed the
maximum fee published above for this service. Our firm will debit fees for this service as disclosed in
the executed advisory agreement between the client and our firm. This fee shall be in addition to any
fees assessed by the chosen third party money manager. The third party money managers we
recommend will not directly charge you a higher fee than they would have charged without us
introducing you to them. Third party money managers establish and maintain their own separate
billing processes over which we have no control. They will directly bill you and describe how this
works in their separate written disclosure documents.

ADV Part 2A – Firm Brochure                    Page 7                             MFP Financial Services, LLC

Comprehensive Portfolio Management:

The maximum annual fee to be charged to the client’s account(s) will not exceed 2.00%. The fee to be
assessed to each account will be detailed in the client’s signed advisory agreement, LPL Account
Application or LPL Tiered Fee Authorization form. Fees are billed on a pro-rata basis quarterly in
advance based on the value of the account(s) on the last day of the previous quarter. Fees are
negotiable and will be deducted from the account(s). Adjustments will be made for deposits and
withdrawals during the quarter. If accounts are opened during the quarter, the pro-rata advisory fees
will be deducted during the next regularly scheduled billing cycle. In rare cases, our firm will agree
to direct bill clients. As part of this process, Clients understand the following:

    a) LPL as the client’s custodian sends statements at least quarterly, showing all disbursements
       for each account, including the amount of the advisory fees paid to our firm;
    b) Clients provide authorization permitting LPL to deduct these fees;
    c) LPL calculates the advisory fees for all fee schedules and deducts them from the client’s
       account.

Fees charged for third party manager services shall be in addition to our advisory fees. The third
party money managers we recommend will not directly charge you a higher fee than they would have
charged without us introducing you to them. Third party money managers establish and maintain
their own separate billing processes over which we have no control. In general, they will directly bill
you and describe how this works in their separate written disclosure documents.

Financial Planning & Consulting:

Our firm charges on an hourly or flat fee basis for financial planning and consulting services. The total
estimated fee, as well as the ultimate fee charged, is based on the scope and complexity of our
engagement with the client. The maximum hourly fee to be charged will not exceed $500. Flat fees
will not exceed $2,500. The fee-paying arrangements will be determined on a case-by-case basis and
will be detailed in the signed consulting agreement. Our firm will not require a retainer exceeding
$1,200 when services cannot be rendered within 6 months.

Wealth Coaching Services

The fees for wealth coaching services will be charged on a fixed fee basis per quarter. The fixed fee
will be determined by the nature, scope, and complexity of the coaching services offered. The
quarterly fee for wealth coaching ranges from $250 to $10,000. The fees are negotiable between the
client and our firm, and the fee will be set forth in the separate client advisory agreement. Fees are
due and payable to the firm every three months in advance for the next quarterly period. The client
will receive an invoice from our firm for the quarterly fees. This agreement will automatically be
terminated for non-payment.

Wealth Coaching Fees are generally invoiced directly to the client, but may also be deducted from
another account that is held with our firm.

Retirement Plan Consulting:

Our Retirement Plan Consulting services are billed on an hourly or flat fee basis or a fee based on the
percentage of Plan assets under management. The total estimated fee, as well as the ultimate fee
charged, is based on the scope and complexity of our engagement with the client. Fees based on a

ADV Part 2A – Firm Brochure                    Page 8                              MFP Financial Services, LLC

percentage of managed Plan assets will not exceed 1.00%. The fee-paying arrangements will be
determined on a case-by-case basis and will be detailed in the signed consulting agreement.

Other Types of Fees & Expenses

Non-Wrap Clients will incur transaction fees for trades executed by their chosen custodian, either
based on a percentage of the dollar amount of assets in the account(s) or via individual transaction
...

Item 7: Types of Clients & Account Requirements

Our firm has the following types of clients:
   • Individuals and High Net Worth Individuals;
   • Trusts, Estates or Charitable Organizations;
   • Pension and Profit Sharing Plans;
   • Corporations, Limited Liability Companies and/or Other Business Types

Our firm does not impose requirements for opening and maintaining accounts or otherwise engaging
us.

ADV Part 2A – Firm Brochure                   Page 10                            MFP Financial Services, LLC