Paul J Glashofer Enterprises Inc

Fees and Compensation
The basic fee to be charged by GFA for its advisory services is a percentage of the
average daily assets under management, as follows:

The Firm generally charges advisory fees based on a tiered schedule of 1.00% on the
first $1.5 million, 0.80% on the next $1.5 million, and 0.50% on assets above that
amount.

                           Glashofer Financial Advisors – ADV Part 2A

In certain circumstances, the Firm may charge different fees, including flat asset-
based fees or negotiated fee arrangements depending on factors such as account size,
relationship history, or services provided.

Amount of Assets                       Annual Fee Percentage

First $1,500,000                       1%

Next $1,500,000                        0.8%

Above $3,000,000                       0.5%

Non-profit organizations               0.5%

Consultations are available on an hourly basis not to exceed $250 per hour.

GFA accepts accounts with a minimum account size of $500,000. However,
exceptions to minimum account size are made on a case-by-case basis. Fees are
negotiable.

The fee is charged quarterly in arrears. Clients may elect to have fees deducted directly
from their brokerage account or to be billed for fees incurred.

In addition, clients may incur brokerage or transaction costs levied from the broker.
Should GFA purchase mutual funds, client may also pay a management fee to the fund.

Mr. Glashofer accepts compensation for the sale of insurance products. Any commission-
based product creates a conflict of interest as there is an incentive to recommend products
based on compensation received rather than a client’s needs. Glashofer Financial
Advisors is a client-focused firm and our focus is in serving the best interests of our
clients without consideration of the compensation.
Clients have the option to purchase investment products that GFA recommends through
other brokers or agents that are not affiliated with Glashofer Financial Advisors.

Less than 5% of Mr. Glashofer’s revenue is earned from the sale of insurance products.
Commissions from insurance products are disclosed to clients and GFA will at times
reduce advisory fees to offset the commissions. Note that clients are under no
obligation to execute any recommended transaction.

Performance-Based Fees and Side-by-Side Management
Glashofer Financial Advisors does not manage any performance-based fee accounts nor
does it manage both performance-based fee accounts and accounts that are charged
another type of fee.

                           Glashofer Financial Advisors – ADV Part 2A

Types of Clients
Glashofer Financial Advisors offers investment advisory services to individuals, pension
and profit-sharing plans, trusts, estates, charitable organizations, partnerships, and
corporations.

Methods of Analysis, Investment Strategies and Risk of Loss
Glashofer Financial Advisors uses fundamental methods to assess risks and opportunities
in the capital markets. Security analysis also concentrates on companies that demonstrate
a high return on shareholder’s equity, generate substantial free cash flow, have strong
balance sheets, trade at a low price to book value or net current assets, trade at a low price
relative to their earnings, repurchase their own shares and increase their dividend
payouts.

Throughout our investment process, we review numerous sources of information:
inspections of corporate activities; research materials prepared by others; corporate rating
services; annual reports, prospectuses, and filings with the SEC; company press releases
and financial newspapers and magazines.

Glashofer Financial Advisors provides investment advice on some or all of the following
types of securities: exchange‐listed and over‐the-counter securities; warrants; corporate
debt securities; commercial paper; certificates of deposit; municipal securities; United
States government securities; mutual fund shares and exchange-traded fund shares;
options contracts on securities; interests in partnerships investing in real estate and
private equity investments.

GFA seeks to invest in securities with long term purchases (securities held at least a
year), both to realize preferential tax rates on long‐term capital gains and to minimize
trading expenses. Our principal focus is to invest our clients’ funds to achieve long‐term
capital appreciation. When suitable to client circumstances and preferences, we may also
invest in short term purchases (securities sold within a year) and option writing, including
covered and uncovered options.

All investment programs have certain risks that are borne by the investor. Our investment
approach attempts to minimize risk. However, as with all investments, clients face
investment risks including the following: Loss of Principal Risk, Interest-Rate Risk,
Market Risk, Inflation Risk, Currency Risk, Reinvestment Risk, Business Risk, Liquidity
Risk, Geopolitical Risk and Financial Risk.

Glashofer Financial Advisors methods of analysis and investment strategies do not
present any significant or unusual risks. The firm does not have a strategy of frequent
trading of securities which can affect investment performance, particularly through
increased brokerage and other transaction costs and taxes.