Mulholland Wealth Advisors LLC

Item 5: Fees and Compensation

Below is information on the fees paid to Mulholland for the various arrangements listed in Item 4 above.

A. Portfolio Management Fees for Separately Managed Accounts
Mulholland provides investment advice on a fee-only basis. Mulholland generally charges 1.45% annual management fee.
The actual management fee charged to each client by Mulholland will be outlined in the written investment management
agreement entered between Mulholland and the client. Our fee schedule is based on the total household account value.

As referenced in Item 4, in exercising investment discretion, Mulholland will purchase mutual funds, ETFs, and closed-
end funds (including interval funds) (“Redwood Funds”), advised by Mulholland’s affiliate Redwood Investment
Management, LLC (“Redwood”) when it believes it is appropriate. When this occurs, due to Mulholland’s sub-advisory
agreement with Redwood, Redwood will receive a portion of Mulholland’s management fee as the sub-advisor, and
Redwood will receive a management fee from the Redwood Funds. This presents a conflict of interest because Redwood

Mulholland Wealth Advisors, LLC                                                                        March 31, 2026
Form ADV Part 2A

will be receiving additional management fees that it would not have otherwise received but for its role as manager of the
Redwood Funds.

Typically, a minimum of $200,000 of assets under management generally is required to open an account directly with
Mulholland. For clients introduced to Mulholland through a Mulholland Investment Advisory Representative, a minimum
of $50,000 of assets under management generally is required. However, accounts less than $50,000 may be accepted in
Mulholland’s sole discretion. Please note, Mulholland’s annual management fee is inclusive of any sub-advisory fees.
Mulholland’s annual management fee does not include custodial fees or Overlay Manager fees, which typically range
from 0.10% to 0.30% annually and will be provided to clients.

All advisory fees are negotiable at the sole discretion of Mulholland. Mulholland may, from time to time, vary or waive
investment management fees in its sole discretion. Clients should understand that lower fees for comparable services may
be available from other investment advisory firms.

Advisory fees are billed or deducted in arrears at the end of each calendar month and are based on the average daily
account value of the previous month period. Should a client open an account midway through a month, a prorated fee is
charged from the date of the contribution through the month. If Mulholland’s services are terminated mid-month a
prorated fee is charged on the average daily account value for the unbilled days prior to the account termination. When
using certain Overlay Managers, the Overlay Manager may provide for monthly billing whenever an account is opened or
closed in the previous month, or for significant additions/withdrawals.

Payment of Mulholland’s fees will be deducted from each client’s account on a monthly basis by their custodian and paid
directly to Mulholland, unless otherwise directed in writing by a client. The consent for deduction of fees is contained in
the written IMA the client enters into with Mulholland.

The custodian will deliver a monthly/quarterly account statement directly to the client, which will include all transactions
that took place in the account during the period covered and reflect any fees deducted and paid to Mulholland. Clients
should review the fees charged to their account(s) to fully understand the total amount of all fees charged. Clients are
encouraged to review their account statements for accuracy and compare them to any reports received by Mulholland.

B. Sub-Advisory Fees
Mulholland is a sub-advisor whereby it contracts with a TPA to provide management for that TPA’s client accounts.
Under these circumstances, Mulholland and the TPA’s client do not enter into a direct contract with one another; rather,
the contract for sub-advisory services is between Mulholland and the TPA. As part of its sub-advisory services, when it is
appropriate for the Sub-advisory Portfolios, Mulholland will purchase or sell shares of funds managed by Mulholland’s
affiliate, Redwood (“Redwood Funds”). When this occurs, due to Mulholland’s sub-advisory agreement with Redwood,
Redwood will receive a portion of Mulholland’s management fee as the sub-adviser, and Redwood will receive a
management fee from the Redwood Funds. This presents a conflict of interest because Redwood will be receiving
additional management fees that it would not have otherwise received but for its role as manager of the Redwood Funds.
Moreover, the primary owner and principal of Redwood, Michael Messinger, who also is the majority owner of
Mulholland, will be receiving an economic benefit directly. Mulholland, Redwood and Mr. Messinger attempt to mitigate
this conflict by acting in the sub-advisory clients’ best interest and putting clients’ interests ahead of their own.. Please see
Item 10 for additional information.

In addition, Sub-advisory accounts will incur certain fees or charges imposed by third-parties other than Redwood in
connection with investments or recommendations made by the Firm. These fees and charges are separate and distinct from
the fees or charges stated above and include, but are not be limited to: fund 12b-1 fees, certain deferred sales charges on
previously purchased mutual funds, ETFs, and closed-end funds (including interval funds) transferred into the account,
other transaction related fees, IRA and Qualified Retirement Plan fees, interest charged on margin borrowing, interest
charged on debit balanced, “spreads” imposed by brokers and dealers representing implicit transaction costs, commissions
and transfer taxes. Information regarding fees or expenses assessed by any mutual funds, ETFs, and closed-end funds
...

Item 7: Types of Clients

Mulholland provides discretionary investment advice to certain individuals, high net worth individuals, pension and
profit-sharing plans, trusts, estates, and corporations. Mulholland primarily provides discretionary sub-advisory
investment advice. For additional information on clients please see Items 4 and 5 above.

Mulholland acts as a fiduciary under ERISA and the Internal Revenue Code when providing investment advice to
retirement investors, including plan participants and IRA holders. When offering rollover or similar recommendations,
Mulholland follows the Department of Labor’s current fiduciary guidance under PTE 2020-02, which requires acting in
the client’s best interest, disclosing conflicts, and meeting specific documentation and compliance obligations. Additional
disclosures are provided to clients at or before the time of such recommendations. Generally, these disclosures are
contained in this Form ADV Part 2A, the client agreement and/or in separate ERISA disclosure documents, which are

Mulholland Wealth Advisors, LLC                                                                       March 31, 2026
Form ADV Part 2A

designed to enable the ERISA plan’s fiduciary to: (1) determine the reasonableness of all compensation; (2) identify any
potential conflicts of interests; and (3) satisfy reporting and disclosure requirements to plan participants.