NBC Securities Inc

Item 5 - Fees and Compensation
IA Program Advisory Fees are based upon an annual percentage of the Client's assets under management. Advisory Fees
will generally range from .50% to 2.50% annually based on the Investment Manager selected by the Client, the total
market value of assets in the Client's overall investment portfolio, and the complexity of Advisory Services. Advisory Fees
are negotiable between Lanark and the Client and are outlined in the Client Profile. Minimum Lanark Program Fees may
be applied per Account and may vary by IA Program. Minimum Program Fees are disclosed in the Client Profile.

The Advisory Fee typically includes the fees for the Advisory Services of Lanark, the IA Program sponsor, the Investment
Manager, and the Overlay Manager, if applicable. The Advisory Fee, subject to the exceptions listed below, also covers
charges applicable to securities transactions effected for the Account by the Investment Manager through Lanark and
RBC. The Advisory Fee does not cover, and Client will be additionally responsible and charged for outside brokerage
commissions, margin interest, custody fees, including annual IRA custodial fees, and certain other expenses for additional
Account services, as described in the IA Program agreement.

In addition, Lanark and an Lanark FA, in their separate capacities as registered representatives, may receive a commission
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on the recommendation and sale of other financial products, such as insurance and variable insurance products, to
investment advisory Clients. As a result, Lanark and the Lanark FA may receive additional compensation from usual and
customary insurance commissions or referral fees. However, the Client has the option not to purchase the
recommended products and can purchase products through other unaffiliated brokers or agents.
Investment Managers establish their management fee (“Investment Manager Fee”) which generally ranges from 0.25%
to 1.00% of assets under management. The Investment Manager Fee is included in the total Advisory Fee and is paid by
Lanark to the Investment Manager. Investment Managers may direct certain securities transactions to brokers other than
Lanark or RBC for execution and in such instances, the Client may incur an additional commission or other execution,
settlement, or transaction charge.
Lanark receives additional compensation when Lanark Asset Management is selected as Investment Manager for a
ProAM Account. Lanark will benefit financially from the portion of the Advisory Fee paid to Lanark Asset Management
as the Investment Manager Fee. The Investment Manager Fee received by Lanark Asset Management generally ranges
from
.25% to .50% of assets under management. See item 10, below for further information.
In the APS Program, a Standard APS Account pays an Advisory Fee plus a transaction processing fee (“APS Transaction
Fee”). The APS Transaction Fee is $14.95 per transaction. Certain mutual funds and exchange traded funds (“ETPs”)
participating in the RBC No Transaction Fee program (“NTF Fund”) may be executed in an APS Account and will not incur
an APS Transaction Fee. Option trades incur an additional $1.50 per contract processing fee. The APS Transaction Fee is
used by Lanark to cover the cost of processing transactions in the APS Account. The Lanark FA does not receive any portion
of the APS Transaction Fee. A Portion of the APS Account Advisory Fee is retained by Lanark to cover program costs and
a portion of the Advisory Fee is shared with the Lanark FA for providing Advisory Services.
In an APS-Plus Account, a client pays the Advisory Fee plus an additional fee ranging from an annual 0 to 20 basis points,
computed on the market value of the APS Account assets, and the Client receives a limited annual trade allotment with
no transaction fee. The annual trade allotment is based on the account value. If the number of actual trades exceeds
the annual trade allotment, then the Client may pay a transaction fee of $8.00 per trade for each trade over the annual
allotted amount. Factors included by Lanark in determining whether to charge the Client for over-allotment trade fees
include whether the Lanark FA has discretionary trading authority for the Account. The annual trade allotments provided
for APS-Plus Accounts are as follows:

                                       Account Market Value                Annual
                                                                            Trade
                                                                          Allotment
                                    First $250,000                           25
                                    Amount over $250,000 to                  50
                                    $1,000,000
                                    Amount over $1,000,000 to                100
                                    $5,000,000
                                    Amount over $5,000,000                   200

Advisory Fees for the ProAM Program, APS Program, RBC Consulting Services (formerly Resource II), RBC Total Strategy,
and RBC Advisor are calculated as a percentage of the account value. Advisory Fees are payable in advance quarterly and
calculated based on RBC’s valuation of the underlying assets in the Account as of the last business day of the preceding
calendar quarter or alternative quarter as elected. Where permitted, the Client may elect to be billed on an alternative
quarterly cycle. The Client can elect to be invoiced directly for the Advisory Fees, authorize Lanark to deduct the Advisory
Fees from the Account, or direct Lanark to deduct the Advisory Fees from another Client Account.
Advisory Fees are prorated for any billing period that is less than a complete calendar quarter, or alternative quarter as
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selected, and the fee is adjusted proportionately based on the value of cash or securities added to or withdrawn from
...

Item 7 - Types of Clients
Lanark may provide portfolio management services to individuals, high net-worth individuals, corporate pension and
profit-sharing plans, Taft-Hartley plans, charitable institutions, foundations, endowments, municipalities, private
investment funds, trust programs, sovereign funds, and other U.S. institutions.
Lanark advisory accounts typically require a $50,000 minimum investment for equity and fixed-income accounts.
Investment Managers may impose additional minimum account sizes ranging as high as $10 million. Clients should
review the disclosure documents of sub-advisers for additional information. Mutual fund accounts typically require a
minimum investment of $25,000, although they may be higher or lower. Lanark will only offer Advisory Services if
appropriate to the Client's needs and financial situation.