PFS Partners LLC

Item 5           Fees and Compensation

   A.
                                   INVESTMENT ADVISORY SERVICES
         The Registrant provides discretionary and/or non-discretionary investment advisory
         services on a wrap or non-wrap fee basis. (See discussion below). If a client determines to
         engage the Registrant on a wrap fee basis the client will pay a single fee for bundled
         services (i.e., investment advisory, brokerage, custody).

                                          NON-WRAP FEE BASIS
         When engaged to provide discretionary and/or non-discretionary investment advisory
         services on a non-wrap fee basis, the Registrant’s annual investment advisory fee shall vary
         from negotiable up to 1.50% of the total assets placed under the Registrant’s
         management/advisement and shall be based upon various objective and subjective
         factors.

         As indicated above, Registrant shall receive an investment advisory fee based upon a
         percentage (%) of the market value of the assets placed under management generally
         between negotiable and 1.50%. However, fees shall vary depending upon various objective
         and subjective factors, including but not limited to: the representative assigned to the
         account, the amount of assets to be invested, the complexity of the engagement, the
         anticipated number of meetings and servicing needs, related accounts, future earning
         capacity, anticipated future additional assets, and negotiations with the client. As a result,
         similar clients could pay different fees, which will correspondingly impact a client’s net
         account performance. Moreover, the services to be provided by the Registrant to any
         particular client could be available from other advisers at lower fees.

         Before engaging Registrant to provide investment advisory services, clients are required to
         enter into a discretionary or non-discretionary Investment Advisory Agreement, setting
         forth the terms and conditions of the engagement (including termination), which describes
         the fees and services to be provided.

                               PFS PARTNERS WRAP PROGRAM
    Under the Program, the Registrant is able to offer participants discretionary or non-
    discretionary investment management services, for a single specified annual Program fee,
    inclusive of trade execution, custody, reporting, account maintenance, investment
    management fees, and in some instances, fees charged by independent managers and/or
    separately managed accounts.

    The current annual Program fee ranges from negotiable to 1.50%, depending upon the
    complexity of the account, the amount of the client assets in the Program and the
    independent/separately managed accounts utilized by the client’s investment portfolio.

    Clients may be responsible for, but not limited to, fees for trades executed away from the
    account’s custodian, trustee fees, mutual fund internal expenses, ETF internal expenses,
    mark-ups, mark-downs, transfer taxes, fees charged by independent managers and/or
    separately managed accounts (when such managers require the client to enter into a dual
    contract relationship) odd lot differentials, exchange fees, interest charges, American
    Depository Receipt agency processing fees, alternative investment fees and any charges,
    taxes or other fees mandated by any federal, state or other applicable law or otherwise
    agreed to with regard to client accounts (Such fees are in addition to any fees paid by the
    client to the Registrant and are between the client and the account custodian). Furthermore,
    clients who maintain a retirement account with their custodian are generally charged an
    annual maintenance fee. Clients are charged approximately $35.00 to $40.00 per year to
    maintain a retirement account with NFS.

    These fees are in addition to the Registrant’s Program fee.

           FINANCIAL PLANNING AND CONSULTING SERVICES (STAND-ALONE)
    The Registrant may provide financial planning and/or consulting services (including
    investment and non-investment related matters, including estate planning, insurance
    planning, etc.) on a stand-alone fee basis. Registrant’s planning and consulting fees are
    negotiable, but generally range from $2,000 to $15,000 on a fixed fee basis, and from $150
    to $300 on an hourly rate basis, depending upon the level and scope of the service(s)
    required and the professional(s) rendering the service(s).

                                  RETIREMENT CONSULTING
    The Registrant also provides pension consulting services, pursuant to which it assists
    sponsors of self-directed retirement plans with the selection and/or monitoring of
    investment alternatives (generally open-end mutual funds) from which plan participants
    shall choose in self-directing the investments for their individual plan retirement accounts.
    The Registrant charges an annual fee for Retirement Consulting Services which generally
    ranges from 0.10% to 1.00% of plan assets depending on the services requested and the
    size of the plan. This service is also subject to an annual minimum fee of $3,000.

B. Clients may elect to have the Registrant’s advisory fees deducted from their custodial
   account. Both Registrant's Investment Advisory Agreement and the custodial/clearing
   agreement may authorize the custodian to debit the account for the amount of the
   Registrant's investment advisory fee and to directly remit that management fee to the
   Registrant in compliance with regulatory procedures. In the limited event that the
   Registrant bills the client directly, payment is due upon receipt of the Registrant’s invoice.

    Unless otherwise agreed, the Registrant shall deduct fees and/or bill clients quarterly in
    advance.
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Item 7           Types of Clients

         The Registrant’s clients shall generally include individuals, business entities, pension and
         profit sharing plans, trusts, estates and charitable organizations.

         The Registrant generally requires an asset level $20,000 per each client account.

         The Registrant, in its sole discretion, may waive its account minimum and/or charge a
         lesser investment management fee based upon certain criteria (i.e., anticipated future
         earning capacity, anticipated future additional assets, dollar amount of assets to be
         managed, householdings of related accounts, account composition, negotiations with
         client, etc.).