Orgel Wealth Management LLC

ITEM 5 – FEES AND COMPENSATION
Orgel Wealth Management establishes the fees charged for servicing client accounts in the written
advisory agreement between Orgel Wealth Management and the client. Fees are generally based
on a percent of assets under management but may also be fixed under certain circumstances.

Investment Management Fee
Orgel Wealth Management’s current standard fee schedule for its investment management
services is below. In addition, other fee arrangements for accounts consisting of short-duration
fixed income investments may apply and may be lower than the current standard fee schedule.

            Assets Managed                                                    Annual Rate
            First $1 million                                                     0.75%
            Next $4 million    (amount over $1 million to $5 million)            0.50%
            Next $5 million    (amount over $5 million to $10 million)           0.40%
            Next $15 million (amount over $10 million to $25 million)            0.30%
            Next $25 million (amount over $25 million to $50 million)            0.25%
            Over $50 million                                                     0.10%

Orgel Wealth Management, in its sole discretion, may charge a lesser investment management
fee based upon certain criteria (e.g., anticipated future earning capacity, anticipated future
additional assets, dollar amount of assets to be managed, related accounts, account
composition, or negotiations with a client). As a result, similarly situated clients could pay
different fees. In addition, similar advisory services may be available from other investment
advisors for similar or lower fees. The client or Orgel Wealth Management may terminate the
advisory agreement at any time by written notice. If the relationship is terminated, the client will
receive a prorated refund of any unearned advisory fee. Termination of an advisory agreement
will not affect transactions that Orgel Wealth Management has initiated on the client’s behalf
prior to the effective date of such termination.

Advisory fees are waived for employee and certain family accounts. Other waivers may be
granted at the discretion of Orgel Wealth Management.

From time to time, Orgel Wealth Management’s fee schedules may have been higher or lower
than those currently in effect. As new schedules go into effect, they are generally made available

to new clients while the fee schedule applicable to an existing client is generally not affected by
the new schedules. Therefore, some clients pay different fees from those shown above. Orgel
Wealth Management’s fees are never based on the expectation that a client will promote,
advertise, or positively review Orgel Wealth Management.

As noted above, Orgel Wealth Management may make available an advisory fee arrangement
for accounts consisting of short-duration fixed income investments that is lower than the current
standard fee schedule. In addition, certain historic fee schedules may also impose lower advisory
fees for the management of fixed income and cash and cash equivalent securities, compared to
the advisory fee for managing equity and alternative investments. Although Orgel Wealth
Management will allocate client assets among investments consistent with each client’s
designated investment objective, a conflict of interest exists because Orgel Wealth Management
can earn a higher advisory fee for management of securities other than fixed income and cash
and cash equivalent securities, which presents an economic incentive to allocate more assets to
the types of securities from which we will earn a higher advisory fee. In order to address this
potential conflict of interest, Orgel Wealth Management maintains a code of ethics that includes
a policy that requires all employees, officers, and directors of Orgel Wealth Management to put
clients’ interests ahead of their own.

Fees are paid monthly in advance and are calculated by multiplying the value (i.e., market value
or fair market value in absence of market value) of the client’s account at the end of the previous
billing period by the prorated amount of the client’s annual fee rate. Orgel Wealth Management
does not make any adjustments for contributions or withdrawals during a period, as applicable.
Orgel Wealth Management’s policy is to treat intra-month account additions and withdrawals
equally and Orgel Wealth Management will not charge for intra-month additions or withdrawals
unless indicated to the contrary on the Investment Advisory Agreement executed by the client.

Typically, fees are directly deducted from the client’s account and are generally inclusive of
agreed upon financial planning and/or consulting services, as set forth in each client’s advisory
agreement. In the limited event that Orgel Wealth Management bills the client directly, payment
is due upon receipt of Orgel Wealth Management’s invoice. Upon termination, Orgel Wealth
Management shall refund the account for the pro-rated portion of the advanced advisory fee
based upon the number of days that services were provided during the billing month.

Although Orgel Wealth Management can work with a broad range of custodians, Orgel Wealth
Management generally recommends that client accounts be maintained at Pershing. Orgel
Wealth Management pays Pershing an asset-based fee for the accounts maintained by Pershing.
As a result of Orgel Wealth Management’s arrangement with Pershing, clients receive Orgel
Wealth Management’s broad range of investment management and consulting services, custody
of assets at Pershing, and execution services all for a single, combined fee. All client accounts
maintained at Pershing and managed by Orgel Wealth Management are subject to this
arrangement. Accounts held at custodians other than Pershing are subject to brokerage and
transaction costs agreed to by the client and the custodian. Additional information regarding
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ITEM 7 – TYPES OF CLIENTS
Orgel Wealth Management provides its services to individuals, families, high net worth
individuals, pension and profit sharing plans, trusts, estates, charitable organizations,
corporations, and other business entities.

Account Conditions
Orgel Wealth Management generally imposes a minimum portfolio size of $2,000,000 for new
client relationships; however, Orgel Wealth Management, in its sole discretion, may accept
clients with portfolios less than $2,000,000 based upon certain criteria, such as the amount of
assets under management or advisement, related accounts, account composition, preexisting
client relationships, account retention, and pro bono activities. It is Orgel Wealth Management’s
intent to consider the portfolios of all family members for the client relationship together in order
to assess compliance with the minimum portfolio size.

Clients may make additions to and withdrawals from their account at any time, subject to Orgel
Wealth Management’s right to terminate an account. Orgel Wealth Management reserves the
right to liquidate any transferred securities or decline to accept particular securities into a client’s
account. Clients may withdraw account assets upon notice to Orgel Wealth Management,
subject to the usual and customary securities settlement procedures. Withdrawals that are
inconsistent with the established investment objectives for the portfolio may impair the
achievement of the investment objectives. Orgel Wealth Management may consult with its
clients about the options and implications of transferring securities. Clients are advised that when
transferred securities are liquidated, they may be subject to fees assessed at the product level
and/or tax ramifications that are, in some instances, beyond Orgel Wealth Management’s
control.

ITEM 8 – METHOD OF ANALYSIS, INVESTMENT STRATEGIES,
AND RISK OF LOSS
Orgel Wealth Management’s investment philosophy is anchored on the belief that a disciplined
approach to asset allocation is essential to long-term portfolio growth and the mitigation of
downside risk.

Investing in securities involves risk of loss that clients should be prepared to bear. There is no
assurance that a client account will meet its investment objective. Clients may lose all or a
significant part of the value of their account and their account may not perform as well as other
similar investments. All clients assume the risk that investment returns may be negative or below
the rates of return of other investment advisors, market indices, or investment products.