MML Investors Services LLC

ITEM 5. FEES AND COMPENSATION
The specific manner in which advisory fees are charged by the Firm for each Co-Adviser Program listed in Item 4 above
is established in a written agreement between the client, the Firm and the Third Party Adviser. Please refer to the
applicable Third Party Adviser Brochure and the investment management agreement between the client, the Firm and the
Third Party Adviser for details on how such Third Party Adviser charges fees to the client under such Co-Adviser Program.

Where the fees charged under the Co-Adviser Programs are for advisory, execution and other services, clients should
understand that such bundled or “wrap” fees may cost more or less than purchasing such services separately, assuming
the services can be purchased separately.

Additionally, clients may purchase securities without participating in the Co-Adviser Programs, and therefore, will
not have to pay the advisory fee described below. Thus, it may be more cost efficient for clients to purchase the
securities outside of the Co-Adviser/Adviser Program. However, clients will not receive the services provided under the
Co-Adviser/Adviser Program if they choose to do so. The advisory fee a client pays may be higher than those charged
by the Firm for other advisory programs offered through the Firm, or higher than those charged by other sponsors of
comparable programs.

In addition to the advisory fees described below, the client may incur additional fees and expenses to participate in the
Co-Adviser Programs. For instance, if the Co-Adviser Program invests client assets in securities such as ETFs, mutual
funds or closed-end funds, clients will be subject to the fees and expenses of such securities which are generally
established by each fund’s board of directors and are subject to change. These include administration, distribution,
transfer agent, custodial, legal, audit and other fees and expenses. Clients should read such securities prospectus,
Statement of Additional Information, offering statements and/or other offering documents, if any, for a complete
explanation of applicable fees and expenses. Other costs that may be assessed include spreads paid to market-makers
and exchange fees, among others. In general, the client pays charges to the account custodian and/or clearing firm

MI1611_MMAS.NewSquare 726	                              Page 8 of 24

for various account services such as maintenance, termination, and/or wire transfers. Please refer to the disclosure
documents of the custodian and/or clearing firm for additional information, as well as the applicable disclosure brochures
of the Third Party Adviser.

The client should review the applicable Third Party Adviser disclosure brochure for a description of all fees and charges
that the Third Party Adviser may assess for their respective Co-Adviser Programs. To the extent that assets used for
participation in a Co-Adviser Programs come from the redemption of non-program investments, the client should
consider the cost, if any, of sales charges previously paid or to be paid upon redemption, which would be in addition to
the advisory fees on those assets. Clients should be aware that such redemptions might have tax consequences that
should be discussed with an independent tax advisor.

The following section contains a general description of the compensation received by the Firm and the Third Party
Advisers for the MMAS and NewSquare Co-Advisory Programs.

	 MMAS Program. Clients invested in the MMAS Program pay an annual, single fee (“Total Client Fee”) which includes
  advisory, operational, maintenance and administrative services provided by MMAS and MMLIS, as well as the
  custodial and brokerage services provided by Fidelity. The Total Client Fee is negotiable and comprised of a “Manager
  Fee” paid to MMAS and a “MMLIS IA-Rep Fee” paid to the MMLIS IA-Rep. If a client engages an Independent Manager
  for their account, a separate subadvisor fee can also apply, depending on whether the Independent Manager charges a
  subadvisor fee. Please see the Independent Manager’s Form ADV for a description of fees charged. Differences in fees
  for Independent Managers, or the absence of such fees, create a conflict of interest as such differences provide an
  opportunity for an IA-Rep to recommend or choose an Independent Manager that charges a lower fee or no fee, if the
  IA-Rep believes a lower Independent Manager fee will allow the IA-Rep to negotiate a higher MMLIS IA-Rep Fee. The
  IA-Rep also has an incentive to forego the use of an Independent Manager, even if it is not in the best interest of the
  Client, in order to negotiate a higher MMLIS IA-Rep Fee. The ability of the IA-Rep to negotiate a higher MMLIS IA-Rep
  Fee in these circumstances also provides a financial benefit to MMLIS, which retains a portion of the fee. This conflict
  of interest is addressed by disclosure to the Client.

	 The final net compensation received by the IA-Rep may be subject to additional adjustments of fees between the
  IA-Rep and MMLIS. MMLIS may pay a portion of the IA-Rep Fee to the IA-Rep’s manager or branch office. MMLIS
  utilizes compensation schedules to calculate the overall compensation paid to IA-Reps for their work associated with
  the Programs and other offerings at MMLIS. By agreement, MMAS may treat members of a family as a single Client
  for billing, allocation and other purposes. IA-Rep managers may receive a bonus for certain newly licensed Series 7
  IA-Reps who achieve $1 million or more in net inflows to MMLIS brokerage and advisory accounts within 12 months
  of becoming licensed. This creates an incentive for the IA-Rep to recommend MMLIS advisory and brokerage accounts
  over other third party services that may be available. MMLIS addresses this conflict by not paying any portion of this
  bonus to the IA-Rep and by disclosing it the Client.
...

ITEM 7. TYPES OF CLIENTS
Depending on the particular program, MMLIS generally provides advice to individuals, high net worth individuals, trusts,
estates, endowments and foundations, business entities and/or qualified plans.

Minimum Account Size For Co-Adviser Programs
    •	 For the MMAS Program, the minimum is $250,000 aggregated by family; however a lower minimum may be
       accepted per the discretion of MMAS.
    •	 For the NewSquare Program, the minimum account size is generally $25,000 for a Strategic Portfolio, $50,000
       for Macro, Relative Strength, ETF Taxable Bond, ETF Tax Exempt and Total Return ETF Portfolios, $100,000 for
       the Schwab Personalized Indexing® $200,000 for the Dividend Focus Portfolios, $250,000 for Relative Strength
       Individual Equity Growth, Relative Strength Individual Equity Dividend, and First Trust Direct Indexing Solution
       and $500,000 for the Individual Taxable, Individual Tax Exempt Bond Portfolios, and First Trust Investment
       Solutions Custom Option Solutions. A lower minimum may be accepted at NewSquare Capital’s discretion.

For additional information regarding minimum investments in the above Co-Adviser Programs please review the
respective Third-Party Adviser Brochure.