Panorama Wealth Advisors

ITEM 5 – FEES AND COMPENSATION

INVESTMENT MANAGEMENT FEES AND COMPENSATION
Our Firm charges a fee as compensation for providing Investment Management services on your
account. These services include advisory services, trade entry, investment supervision, and other
account maintenance activities. Our recommended Custodian charges transaction costs,
custodial fees, redemption fees, retirement plan and administrative fees or commissions. See
Additional Fees and Expenses below for details.
A calendar quarterly investment management fee is billed in advance based on the market value
of your account during the previous calendar quarter. Our maximum annual advisory fee is 1.5%.
Only the initial billing will be billed in arrears and prorated for the time your assets are under our
Firm’s management. The relevant fee and billing method is defined and agreed to by the firm
and the client in the executed Investment Advisory Agreement. This fee may be debited directly
from your investment account, or you may pay this fee separately. You will need to indicate how
you would like to pay this fee in your Investment Advisory Agreement. Additional fees and
expenses you may incur are brokerage commissions, principal markups and discounts, SEC fees,
mutual fund/ETF expense ratios, mutual fund tax withholding on certain foreign securities,

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postage fees, wire fees, bank charges, and other administration fees as authorized by you. Please
refer to Section 12 for information on brokerage fees and services.
Fees may vary based on the size of the account, complexity of the portfolio, extent of activity in
the account, or other reasons agreed upon by our Firm and you as the client. In certain
circumstances, our fees and the timing of the fee payments may be negotiated. Our employees
and their family-related accounts are charged a reduced fee for our services.
Unless otherwise instructed by the Client, we will aggregate related client accounts for the
purposes of determining the account size and annualized fee. The common practice is often
referred to as “house-holding” portfolios for fee purposes and may result in lower fees than if
fees were calculated on portfolios separately. Our method of house-holding accounts for fee
purposes looks at the overall family dynamic and relationship. When applicable, and noted in
Appendix of the Investment Management Agreement, legacy positions will also be excluded from
the fee calculation.
The independent and qualified custodian holding your funds and securities will debit your account
directly for the advisory fee and pay that fee to us. When establishing a relationship with
Panorama, you provide written authorization permitting the fees to be paid directly from your
account held by the qualified custodian. Further, the qualified Custodian agrees to deliver an
account statement to you on a monthly basis indicating all the amounts deducted from the
account including our advisory fees.
Either Panorama or you may terminate the management agreement immediately upon written
notice to the other party. The management fee will be pro-rated to the date of termination, for
the quarter in which the cancellation notice was given and any earned fee will be billed to you by
our Firm.
Upon termination, you are responsible for monitoring the securities in your account, and we will
have no further obligation to act or advise with respect to those assets. In the event of client’s
death or disability, Panorama will continue management of the account until we are notified of
client’s death or disability and given alternative instructions by an authorized party.
In no case are Panorama fees based on, or related to, the performance of your funds or
investments.

CONSULTING
Panorama provides hourly planning services for clients who need advice on a limited scope of
work. Panorama will negotiate consulting fees with you. Fees may vary based on the extent and
complexity of the consulting project. The hourly rate for limited scope engagements is $350. You
will be billed monthly as services are rendered.
Either party may terminate the agreement. Upon termination, fees will be prorated to the date
of termination, and any unearned portion of the fee will be refunded to you as described above.
You should be aware that lower fees for comparable services may be available from other sources.

FINANCIAL PLANNING FEES
For our Investment Management clients, financial planning services are included in the
Investment Management fees described above.
For stand-alone financial planning arrangements, we will negotiate the planning fees with you
using either a fixed fee or an hourly rate. Fees may vary based on the extent and complexity of
your individual or family circumstances and the amount of your assets under our management.
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Panorama will determine your fee for the designated financial advisory services based on a fixed
fee arrangement described below.
Under our fixed fee arrangement, any fee will be agreed in advance of services being performed.
The fee will be determined based on factors including the complexity of your financial situation,
agreed upon deliverables, and whether or not you intend to implement any recommendations
through Panorama. Fixed fees for financial plans will not exceed $5,000.
Typically, we complete a plan within a month and will present it to you within 60 days of the
contract date, if you have provided us all information needed to prepare the financial plan. One
hundred (100%) of the Financial Planning Fee is collected upon delivery of the Plan to you. You
may terminate the financial planning agreement by providing us with written notice. There is no
penalty for termination of your financial planning agreement prior to the plan being delivered to
you. We will not require prepayment of more than $1,200 in fees per client, six (6) or more
months in advance of providing any services.
...

ITEM 7 - TYPES OF CLIENTS

We provide investment advice to individuals, high net worth individuals, trusts, and estates.
Our Firm maintains a $250,000 minimum in aggregate investable assets. In certain instances, at
the discretion of our Firm, this minimum may be waived if we determine your account can be
adequately diversified at an amount less than $250,000. However, because trading costs are
typically a fixed and per transaction cost imposed by the custodian, smaller accounts will incur
incrementally higher trading costs expressed as a percentage of the account balance.
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