Newedge Advisors LLC

Item 5: Fees & Compensation

    How We Are Compensated for Our Advisory
    Generally, NEA does not have stated account minimums unless specifically stated below in investment
    program offerings.
    The maximum annual advisory fee to be charged to new client account(s) opened after 12/31/2025
    will not exceed 1.75%. Certain accounts established prior to 12/31/2025 may have fees up to 2.50%,
    depending on the maximum allowed at the time the account was initially established. The fee to be
    assessed to each account will be detailed in the client’s signed advisory agreement with NewEdge
    Advisors, LLC, and as appropriate where LPL is the custodian, the LPL Account Application or LPL
    Tiered Fee Authorization form. Fees will be identified for Fidelity, Goldman Sachs, Raymond James or
    Schwab directly through NewEdge Advisors, LLC. Where LPL, Fidelity, Goldman Sachs, Raymond
    James or Schwab is the custodian, Fees are billed on a pro-rata basis quarterly in advance based on
    the value of the account(s) on the last day of the previous quarter. Fees are negotiable and will be
    deducted from the account(s). If accounts are opened during the quarter, the pro-rata advisory fees
    will be deducted during the next regularly scheduled billing cycle. In rare cases, our firm will agree to
    direct bill clients. As part of this process, Clients understand the account custodian will send
    statements at least quarterly, showing all disbursements for each account, including the amount of the

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    advisory fees paid to us. Please note that fees will be adjusted for deposits and withdrawals made
    during the quarter.
    The Firm's fees consist of two components. The negotiated advisory fee as described above and a
    separate flat $20 fee per account per calendar quarter (not to exceed $480 per household per year).
    The flat $20 fee per account per calendar quarter is retained by the firm and not paid out to the
    investment advisor representative. This account maintenance fee supports service improvements
    including, but not limited to, enhanced account security, upgraded cyber infrastructure, back-office
    monitoring, account oversight, aggregation and reporting tools, and other technologies that support
    general account maintenance. Investment Advisor Representatives may choose to cover that fee for
    certain clients, all of their clients, or none of their clients. When choosing to cover for certain clients,
    those clients may be receiving similar or different services from their investment advisor
    representative.
    You provide authorization permitting the calculated fees to be paid by the terms detailed herein and
    within your investment advisory agreement.
    Where LPL is custodian, LPL calculates the advisory fees for all fee schedules and deducts them from
    your account.
    Where Fidelity, Goldman Sachs, Raymond James or Schwab is the custodian, NewEdge Advisors
    provides the advisory fee/management fee to the custodian, and the custodian will deduct the
    calculated fee from your account.

    NEA Wrap Programs
    In a wrap fee arrangement, clients pay a single fee for advisory, brokerage, and custodial services.
    Client’s portfolio transactions will be executed without commission charge in a wrap fee arrangement.
    In evaluating such an arrangement, the client should also consider that, depending upon the level of
    the wrap fee charged by NEA, the amount of portfolio activity in the client’s account, and other factors,
    the wrap fee may or may not exceed the aggregate cost of such services if they were to be provided
    separately. We will review with clients any separate program fees that may be charged to clients. The
    Firm does not manage wrap fee accounts differently than non-wrap fee accounts.
    Please see the Investment Advisory Agreement (“IAA”) for more information regarding your fees.

    NEA Advisory Programs:
         •    Advisors Choice
               Equity and Balanced Accounts
                       $25,000 - $1,000,000 2.25% of assets
                       $1,000,001 - $2,000,000      2.00% of assets
                       Over $2,000,000              1.75% of assets
               Fixed Accounts
                       $25,000 - $500,000           2.25% of assets
                       $500,001 - $1,000,000        2.00% of assets
                       $1,000,001 - $2,000,000      1.75% of assets
                       Over $2,000,000              1.50% of assets
              A minimum of $25,000 of assets under management is generally required for the Advisors
              Choice service. This account size may be negotiable under certain circumstances. NEA may
              group certain related client accounts for the purposes of achieving the minimum account size
              and determining the annualized fee. In some circumstances, the client may be offered an
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                 annual “flat-dollar fee” arrangement with NEA whereby an agreement is reached to provide a
                 defined set of services for a sum certain, usually paid on a quarterly basis for the term of the
                 agreement.
         •       Financial Product Management Strategy (“FPM”)
                       First $50,000                   2.50% of assets
                       Next $200,000                   2.25% of assets
                       Next $250,000                   2.00% of assets
                       Next $500,000                   1.75% of assets
                       Over $1,000,000                 1.50% of assets
                 Although there is no stated minimum, FPM is generally designed for accounts with a minimum
...

Item 7: Types of Clients & Account Requirements

    We have the following types of clients:
             •        Individuals and high net worth individuals;
             •        Trusts, estates or charitable organizations;
             •        Pension and profit-sharing plans;

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             •        Corporations, limited liability companies and/or other business entities;
             •        Insurance Companies.
    LPL Sponsored Advisory Programs have minimum account requirements of $5,000 to $250,000
    depending upon the chosen program.