Navy Federal Investment Services LLC

Item 5 – Fees and Compensation
This section provides details regarding the fees and compensation arrangements of NFIS’ services.

NFIS Advisory Program fees are calculated based on a percentage of assets under management and do not exceed 1.75% on an
annualized basis for individual or institutional clients. NFIS fees are negotiable and may vary according to the services provided, parties
involved in providing the services, types of investments, and other such considerations. The NFIS IAR will determine the exact fee of
NFIS within the range described below under the NFIS Fee column for each Third-Party Portfolio Manager. Therefore, different clients
participating in the same program may pay different fees. Effective as of June 2019, the IAR or Advisor fee is set per the schedule
noted below. NFIS believes its fees are competitive with those fees charged by other investment advisers for comparable services;
however, NFIS fees may be higher or lower than the fees charged by other investment advisers. In addition to the NFIS fees, there
may be other charges assessed to NFIS accounts for certain activity, termination of accounts, minimum fee requirements, or other
such occurrences. The minimum amount to open a NFIS Advisory Program account will vary depending on the product and Third-Party
Portfolio Manager selected; however, the typical minimum is $50,000 per account. Please refer to Item 7 of this Brochure for the
minimum account sizes.

Navy Federal Investment Services, LLC                                                                 ADV Part 2A Disclosure Brochure

Fees for advisory services provided through the Programs will be charged according to the following fee schedules that have been
established by NFIS. However, advisory fees may be higher or lower than the fee schedules below depending on the client’s unique
circumstances:

New Accounts (Effective as of June 2019): The Advisor fee is set for new accounts and the Envestnet administrative fee was lowered
which affected the Envestnet Bundled Fee as shown in the schedules below.

                                                           NFIS Platform
        Investment Amount           Envestnet Fee         Management Fee           Advisor Fee              Manger Fee
           First $250,000              0.08%                  0.24%                  0.75%                    Varies
          Next $250,000                0.08%                  0.22%                  0.70%                    Varies
          Next $500,000                0.07%                  0.19%                  0.65%                    Varies
              Next $1M                 0.06%                  0.16%                  0.60%                    Varies
              Over $2M                 0.05%                  0.13%                  0.50%                    Varies

Unified Managed Accounts (UMA) follow the same fees by manager listed below to layer multiple Third-Party Portfolio Managers in one
account. However, UMA accounts are subject to a minimum platform fee the greater of $50 or 0.025%.

   Fee Schedule for NFIS Advisory Program Account with Third-Party Portfolio Manager Envestnet (Portfolio Management
                                                    Consultants)
                                         NFFG Index Plus and _CAM Index Plus

                 Investment      Envestnet Bundled        NFIS Platform
                   Amount              Fee               Management Fee           Advisor Fee           Total Fee
               First $250,000         0.06%                  0.26%                  0.75%                1.07%
               Next $250,000          0.06%                  0.24%                  0.70%                1.00%
               Next $500,000          0.05%                  0.21%                  0.65%                 .91%
                  Next $1M            0.04%                  0.18%                  0.60%                 .82%
                  Over $2M            0.03%                  0.15%                  0.50%                0.68%

* The term “Bundled Fee” refers to the respective program management fee plus the Envestnet administrative fee. Envestnet or the
third party manager may have a minimum fee.

   Fee Schedule for NFIS Advisory Program Account with Third-Party Portfolio Manager Envestnet (Portfolio Management
                                                    Consultants)
                                         NFFG Funds and _CAM Mutual Funds

                 Investment      Envestnet Bundled        NFIS Platform
                   Amount              Fee               Management Fee           Advisor Fee           Total Fee

Navy Federal Investment Services, LLC                                                            ADV Part 2A Disclosure Brochure

               First $250,000          0.06%                  0.26%                  0.75%               1.07%
               Next $250,000           0.06%                  0.24%                  0.70%               1.00%
               Next $500,000           0.05%                  0.21%                  0.65%                .91%
                  Next $1M             0.04%                  0.18%                  0.60%               0.82%
                 Over $2M              0.03%                  0.15%                  0.50%               0.68%

* The term “Bundled Fee” refers to the respective program management fee plus the Envestnet administrative fee. Envestnet or the
third party manager may have a minimum fee.

   Fee Schedule for NFIS Advisory Program Account with Third-Party Portfolio Manager Envestnet (Portfolio Management
                                                    Consultants)
                                                      NFFG ETF

                 Investment      Envestnet Bundled        NFIS Platform
                   Amount              Fee               Management Fee           Advisor Fee           Total Fee
...

Item 7 – Types of Clients
NFIS generally provides investment advice to members of Navy Federal Credit Union, individual persons, trusts and institutions. There
are minimum initial investment amounts for advisory accounts, which range from $50,000 to $100,000 depending on the portfolio
management program and Third-Party Portfolio Manager that is chosen.

         Program                                                  Minimum Account Size
         BlackRock Investment Management, LLC                     $50,000
         Brinker Capital                                          $50,000
         Fidelity Wealth Adviser                                  $50,000
         Frontier Asset Management                                $50,000
         Goldman, Sachs and Co.                                   $50,000
         Members Trust                                            $50,000
         Morningstar Investment Management, LLC                   $50,000
         NFFG ETF                                                 $50,000
         NFFG Tax Sensitive                                       $100,000
         NFFG Mutual Fund Model                                   $50,000
         NFFG Index Plus                                          $50,000

Navy Federal Investment Services, LLC                                                                  ADV Part 2A Disclosure Brochure

       ActivePassive Portfolios                               $50,000
       SEI Investment Management                              $50,000
       Unified Managed Account (UMA)                          $150,000
       Private Wealth Consulting (PWC)                        $1,000,000