Murray Financial Services Inc

Item 5: Fees and Compensation
Discretionary Portfolio Management Account Fees
MFS charges annual advisory fees, billed monthly in arrears for our portfolio management services.
Fees are negotiated with each client and the details of the frequency and timing are documented in the
Investment Advisory Agreement we have with you.

                                  Assets                             Annual Fee
                      $0 -$149,999.99                   1.35% on the first $149,999.99
                      $150,000 - $249,999.99            1.25% on the next $100,000
                      $250,000 - $499,999.99            1.20% on the next $250,000
                      $500,000 - $749,999.99            1.15% on the next $250,000
                      $750,000 - $999,999.99            1.10% on the next $250,000
                      $1,000,000 - $2,999,999.99        1.00% on the next $2,000,000
                      $3,000,000 - $4,999,999.99        .90% on the next $2,000,000
                      $5,000,000 - $9,999,999.99        .85% on the next $5,000,000
                      $10,000,000 and above             Negotiable

We use the balance in your account on the last day of the billing period to determine the market value of
the assets upon which the advisory fee is based. Fees will be debited directly from the account by the
custodian in accordance with the client authorization in the Account Agreement with the custodian and the
agreement you have with MFS. Fees are pro-rated for accounts opened or closed on any day other than the
first day of a billing period.

As part of the fee negotiations, we typically consider all assets under our management for the household.
This means, individual, joint, UGMA, IRA / Sep IRA and similar accounts.
We do not have a minimum asset requirement to open or maintain an account with our firm. The standard
fee requirement may be waived for employees, family members of MFS and friends of Mr. Murray.
Financial Planning / Consulting Fees
Murray Financial Services' Financial Planning and Consulting fees are determined based on the nature of
the services being provided and the complexity of each client’s circumstances. All fees are agreed upon
prior to entering into a contract with any client. Not all clients will be charged a fee for financial planning.
Other factors such as managed accounts and amount of managed assets may play a role in whether a client
is charged or not for financial planning.
Financial planning fees are based on fixed fees or hourly fees, and the final fee structure is documented in
the Financial Planning Agreement.
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                                                                                        Murray Financial
                                                                                       March 2026
Fee Offset: We reserve the discretion to reduce or waive the fee if a client chooses to engage us for our
Portfolio Management Services. MFS does not credit commissions for security transactions or insurance
transactions which are implemented by MFS employees in their role as a registered representative or
insurance agent.
Pension Consulting Services Fees
The rate for pension consulting services is between 0.50% - 1.00% of the plan assets for which MFS is
providing such consulting services. These fees are negotiable.
Fees are withdrawn directly from the client’s accounts with client’s written authorization or may be invoiced
and billed directly. Details regarding method of payment, frequency and timing will be specified in the client
agreement.
General Information on Advisory Services and Fees
Limited Negotiability of Advisory Fees: Although Murray Financial Services has established the
aforementioned fee schedule(s), we retain the discretion to negotiate alternative fees on a client-by-client
basis. Client facts, circumstances, and needs are considered in determining the fee schedule. These
include:
      -   The complexity of the client
      -   Size and number of accounts representing the assets placed under management
      -   Anticipated future additional assets
      -   Portfolio objectives,
      -   Number of accounts in the household, among others

Certain “Legacy Clients” of IA are billed in accordance with a fee schedule that varies from the current fee
schedule disclosed above. Legacy Clients are those persons, or entities, who have an established relationship
with IA, or one or more IA representatives while such representatives were registered with other advisory
firms, prior to August 1, 2019. Fee amounts may be higher or lower for Legacy Clients than what appears
herein. Exact fees and billing arrangements for such Legacy Clients are disclosed in each Legacy Client’s
respective client Agreement.
Mutual Fund Fees: All fees paid to Murray Financial Services for investment advisory services are
separate and distinct from the fees and expenses charged by mutual funds and/or exchange traded funds
(ETF’s) to their shareholders. These fees and expenses are described in each fund's prospectus. These fees
will generally include a management fee, other fund expenses, and a possible distribution fee. If the fund
also imposes sales charges, a client may pay an initial or deferred sales charge. A client could invest in a
mutual fund directly, without our services. In that case, the client would not receive the services provided
by our firm which are designed, among other things, to assist the client in determining which mutual fund
or funds are most appropriate to each client's financial condition and objectives. Accordingly, the client
should review both the fees charged by the funds and our fees to fully understand the total amount of fees
to be paid by the client and to thereby evaluate the advisory services being provided.
...

Item 7 - Types of Clients
Murray Financial Services provides advisory services to the following types of clients:
 • Individuals
 • High net worth individuals
 • Corporations or other business entities
 • Pension and Profit-sharing Plans
 • Non-profit organizations
As previously disclosed in Item 5, our firm does not enforce any initial minimum account requirements.
Additionally, our firm does not have certain minimum account requirements to maintain an account. For a
more detailed understanding of those requirements, please review the disclosures provided in each
applicable service.