Penserra Wealth Management LLC

Item 5 – Fees and Compensation
The following paragraphs detail the fee structure and compensation methodology for services provided by the
Advisor. Each Client engaging the Advisor for services described herein shall be required to enter into one or
more written agreements with the Advisor.

A. Fees for Advisory Services
Wealth Management Services / Standalone Investment Management Services
Wealth management and standalone investment management (“Advisory”) fees are paid quarterly in advance of
each calendar quarter pursuant to the terms of the Advisory agreement. Advisory fees are based on the market
value of assets under management at the end of the prior quarter. Advisory fees range from 0.20% to 2.00%
annually; the Advisor has multiple tiered fee schedules that fall within this range of fees. Advisory fees are based on
several factors, including the complexity of the services to be provided, the level of assets to be managed, and the
overall relationship with the Advisor. Relationships with multiple objectives, specific reporting requirements, portfolio
restrictions, and other complexities may be charged a higher fee. Fees will generally be discounted compared to
Clients engaging in wealth management services for Clients selecting investment management services only.

The Advisory fee in the first quarter of service is prorated from the inception date of the account[s] to the end of the
first quarter. Fees may be negotiable at the sole discretion of the Advisor. The Client’s fees will take into consideration
the aggregate assets under management with the Advisor. All securities held in accounts managed by Penserra
will be independently valued by the Custodian. Penserra will conduct periodic reviews of the Custodian’s
valuations.

The Client may make additions or withdrawals from the account[s] at any time, subject to the Advisor’s right to
terminate an account or the overall relationship. Additions may be in cash or securities, provided that the Advisor
reserves the right to liquidate any transferred securities or decline to accept particular securities into a client’s
account[s]. Clients may withdraw account assets on notice to Penserra, subject to the usual and customary
securities settlement procedures. However, the Advisor designs its investment portfolios as long-term
investments, and the withdrawal of assets may impair the achievement of a client’s investment objectives.
Penserra may consult with the Client about certain implications of such transactions. Clients are advised that
when such securities are liquidated, they may be subject to securities transaction fees, short-term redemption
fees, and/or tax ramifications.

The Advisor’s fee is exclusive of, and in addition to, brokerage fees, transaction fees, and other related costs and
expenses that may be incurred by the Client. However, the Advisor shall not receive any portion of these

                                            Penserra Wealth Management, LLC
                                        4 Orinda Way, Suite 100-A, Orinda, CA 94563
                                       Phone: (800) 456-8850 | www.penserrawealth.com

commissions, fees, and costs.

Use of Independent Managers
As noted in Item 4, the Advisor will implement all or a portion of a client’s investment portfolio utilizing one or more
Independent Managers. To eliminate any conflict of interest, the Advisor does not earn any compensation from
an Independent Manager. The Advisor will only earn its investment advisory fee as described above. Independent
Managers typically do not offer any fee discounts but may have a breakpoint schedule that will reduce the fee with
an increased level of assets placed under management by an Independent Manager. The terms of such fee
arrangements are included in the Independent Manager’s disclosure brochure and applicable contract[s] with the
Independent Manager. The total blended fee, including the Advisor’s fee and the Independent Manager’s fee, will
not exceed 3% annually.

Use of Sub-Advisors / TAMPs– As noted in Item 4, the Advisor may periodically recommend and refer Clients to a
Sub-Advisor or TAMP. For Client accounts that are managed by a Sub-Advisor or TAMP, the Client’s fee will be
deducted from the Client’s account[s] by the Sub-Advisor, TAMP, or Advisor consistent with the fee schedule above.
The Advisor does not earn any compensation from Sub-Advisors/TAMPs and will only earn its investment advisory
fee as described above.

Standalone Financial Planning Services
Project-Based – Penserra offers standalone, project-based financial planning services either on an hourly basis or
a fixed fee. Hourly engagements range from $150 to $500. Fixed engagement fees range from $1,000 to
$15,000. Fees may be negotiable based on the nature and complexity of the services to be provided and the
overall relationship with the Advisor. An estimate for total hours and total costs will be provided to the Client prior to
engaging in these services.

Ongoing Services – Penserra offers standalone financial planning services for a fixed fee of up to $15,000
annually. Fees may be negotiable based on the nature and complexity of the services to be provided and the
overall relationship with the Advisor. The financial planning fee in the first quarter of service is prorated from the
inception date of the agreement to the end of the first quarter.

B. Fee Billing
Wealth Management / Investment Management Services
Advisory fees are calculated by the Advisor or its delegate and deducted from the Client’s account[s] at the
Custodian. The Advisor shall send an invoice to the Custodian indicating the amount of the fees to be deducted from
the Client’s account[s] at the respective quarter-end date. The amount due is calculated by applying the quarterly
rate (annual rate divided by the number of days in the year multiplied by the number of days in the quarter) to the
total assets under management with Penserra at the end of the prior quarter.
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Item 7 – Types of Clients
Penserra offers investment advisory services to individuals, high-net-worth individuals, trusts, estates,
businesses, charitable organizations, retirement plans, and banking or thrift institutions. These amounts may
change over time and are updated at least annually by the Advisor. Penserra generally does not impose a
minimum relationship size.