PFG Advisors LLC

ITEM 5 - FEES AND COMPENSATION
Asset Management Fees
PFG Advisors charges an advisory fee as compensation for providing asset management services on your
account. These services include advisory and consulting services, trade entry, investment supervision, and
other account maintenance activities. Our qualified custodians typically charge transaction costs, custodial
fees, redemption fees, retirement plan and administrative fees or commissions. See Other Types of Fees
and Expenses below for additional details.

The fees for portfolio management are based on an annual percentage of assets under management and
typically charged on a quarterly basis in arrears or in advance of services rendered. For fees billed in arrears,
the quarterly fee will be calculated using an average daily balance for the client’s account, as determined
and reported by the qualified custodian, using the actual number of days that PFG Advisors managed the
account during the billing quarter. For fees billed in advance, initial fees billed will be based upon the date
the account is accepted for management by execution of the Agreement For Investment Advisory Services
by PFG Advisors, assuming the account is funded at the time of acceptance and executed, or when the assets
are transferred through the last day of the initial billing quarter. Thereafter, the quarterly fee will be based
on the market value of the client’s account on the last trading day of the previous billing quarter as
determined and reported by the qualified custodian. When billing in advance, mid-cycle fee changes will
not be effective until the start of the next billing cycle. Fees are generally assessed on all assets under
management, including securities, cash and money market balances. At PFG Advisor’s sole discretion,
accommodations can be made for excluding certain assets from the billing calculations.

The specific manner in which fees are charged by the firm is established in the client's written Agreement
For Investment Advisory Services and Fee Schedule Addendum between the client and PFG Advisors and
the client’s management fee ranges up to a maximum of 1.95% of assets under management. Clients can
determine to engage the services of PFG Advisors on a discretionary or non-discretionary basis. PFG
Advisors IARs may at their discretion negotiate a fee in accordance with the above.

The client is made aware of the following:
(a) Your independent qualified custodian sends statements at least quarterly to you showing the market
    values for each security included in the Assets and all disbursements in your account including the
    amount of the advisory fees paid to us; and
(b) Unless alternative payment arrangements are made, through your investment management agreement,
    you provide authorization permitting PFG Advisors to be directly paid by these terms above and as
    mutually agreed upon in your Asset Management Agreement. We provide the billing detail directly to
    the qualified custodian.

It is the client's responsibility to verify the accuracy of the fee calculation. The qualified custodian will not
determine whether the fee is properly calculated.

The negotiated annual fee for our asset management is determined by one of the following methods: Fixed
Fee, Variable (Linear) Fee, or a Variable (Tiered) Fee.

    1. FIXED: A fixed annual management fee percentage is agreed upon and set at account opening, and
       does not change during the life of the agreement unless amended and agreed upon in writing.

    2. VARIABLE (LINEAR): A variable annual management fee rate is determined initially according
       to the rate schedule applicable to the beginning account value and is negotiated at the discretion of
       the client and IAR. The variable annual management fee rate schedule is indicated on the Fee
       Schedule Addendum. If the account value falls above or below a breakpoint at the end of the billing
       period for any reason, such as market value fluctuations, deposits of funds or withdrawals, the
       annualized percentage rate for the entire portfolio would change accordingly, per the agreed upon
       schedule.
    3. VARIABLE (TIERED): A variable annual management fee rate is determined initially according
       to the rate schedule applicable to the beginning account value and is negotiated at the discretion of
       the client and IAR. The variable annual management fee rate schedule is indicated on the Fee
       Schedule Addendum. The portion of the portfolio’s value that falls within each tier of the rate
       schedule will be charged that tier’s indicated annualized percentage rate.

PFGA Portfolios Fees
PFGA Portfolios (“Portfolios”) fees are determined, calculated and billed in the same manner as for
accounts in PFG Advisors asset management services (see above in this Item 5).

When client assets are managed by Dynamic, out of the advisory fee you pay, PFG Advisors will remit a
sub-advisory fee (up to 0.15% or 15 basis points) to Dynamic for its services. While PFG Advisors’ IARs
do not receive any portion of the advisory fees charged by Dynamic, this additional compensation received
by PFG Advisors creates a conflict of interest since PFG Advisors are continuing to finalize an affiliation
(which has not yet been completed) with Dynamic. However, this conflict is mitigated by our IARs fiduciary
duty to put the client’s interest first. Please refer to Item 10 for more information regarding PFG’s
affiliation with DWA.

Schwab Marketplace
Client accounts are charged an advisory fee which is negotiable with your IAR up to 1.95% and is payable
to PFG Advisors. In addition, the selected Marketplace MM as described above in Item 4 assesses an
additional strategist fee. This fee varies by Marketplace MM and is to be disclosed at the time of account
opening. The fee may be charged directly by the Marketplace MM or by PFG Advisors and remitted
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ITEM 7 - TYPES OF CLIENTS
The advisory services offered by PFG Advisors are available for individuals, financial institutions such as
credit unions, banks and thrift institutions, including plans subject to Employee Retirement Income Security
Act of 1974 ("ERISA"), including 401K sponsor plans and Individual Retirement Accounts (IRA, SEP,
ROTH IRA, 403B, etc.) trusts, estates, charitable organizations, corporations and other business entities.
Our minimum initial account value for asset management services is $25,000; however, we may accept
accounts for less than the minimum. PFG Advisors does not manage any proprietary investments (e.g.,
hedge funds, limited partnerships, etc.)