Pension & Wealth Management Advisors Inc

5. Fees and Compensation

Portfolio Management:

Our firm charges clients a 1.00% annual fee for portfolio management. Under certain circumstances we may
charge a negotiated fee based on the portfolio being managed and the scope of the relationship.

The fee charged to each client will be defined in the agreement between PWMA and the client. Fees cannot exceed
1.00%. Our minimum account size is $1 million, however, we can waive this depending upon the nature of the
overall relationship.

The fees will be payable quarterly in advance. The amount of the fee will be based on the market value of the
assets on the last day of the previous month. The method of charging the fee will be explained in the agreement
between PWMA and the client.

Fee Collection:

Contemporaneously with the execution of the Client Agreement, you will be asked to sign an authorization that
will allow the custodian of any of your account(s) to debit the account(s) the amount of our service fees and remit
the fee to us. The authorization will remain valid unless and until we receive a written revocation of such
authorization from you. In connection with this fee deduction process, the custodian will send you a statement,
at least quarterly, indicating all amounts disbursed from the account and the amount of advisory fees paid
directly to us. Specific fee arrangements will be set forth in your Agreement with us. In certain cases, we may
provide a client the option to be billed directly.

Financial Planning:

If we provide financial planning services to you, the fee is included in your portfolio management fee.

                                                                            PWMA Form ADV, Part 2A, page 6

Other Fees Incurred:

In addition to our portfolio management fees, you may be assessed other fees by parties independent from us.
You may also incur, relative to certain investment products (such as mutual funds), charges imposed directly at
the investment product level (i.e., advisory fees, administrative fees, 12b-1 fees and other fund expenses).
Brokerage fees/commissions charged to you for securities trade executions may be billed to you by the broker-
dealer or custodian of record for your account, not us. Any such fees are exclusive of, and in addition to our fees.
You will be solely and directly responsible for all fees, including fees other than our portfolio management fee.

Additional Compensation:

We are required to address situations in which we, or any of our supervised persons, accepts compensation for
the sale of securities or other investment products. Certain of our investment advisor representatives are
licensed to sell insurance products.

Client-Directed Brokerage:

You have the ability to purchase investment products that we recommend through any broker-dealer or other
financial institution you choose. If you choose to use a firm other than the broker-dealer(s) we may normally
recommend, we may not be able to properly monitor your assets and therefore we cannot be held responsible
for the success or failure of any investment products or strategies that you implement at those firms. In other
words, our services and responsibilities will not apply to transactions you effect on your own, whether through
firms you choose on your own or through any broker-dealer we may recommend.

7. Types of Clients

We will generally provide our services to the following types of clients:

          Individuals                    High Net Worth Individuals                        Institutions

                                                                             PWMA Form ADV, Part 2A, page 7