Phase III Advisory Services Ltd

Item 5 Fees and Compensation
Wealth Management Platform - Advisor Managed Portfolios Program

We offer Advisor Managed Portfolios in two ways:
   • as an account where no separate transactions charges apply and a single fee is paid for all
       advisory services and transactions ("Wrap Account").
or
   • with separate advisory fees and transaction charges ("Non-Wrap Account"). As such, in
       addition to the quarterly account fee described below for advisory services, you will also pay
       separate per-trade transaction charges.

It is Phase III's discretion to select the type of program. There is an incentive to select the non-wrap
account option since client will pay transaction charges in addition to Phase III's fee. Further,
traditionally, wrap accounts pay a higher management fee to help cover transaction costs than clients
in non-wrap accounts. There is an incentive to attempt to reduce the number of trades in a wrap
account or conduct transaction in no-transaction fee securities to reduce Phase III's costs.

You will pay a quarterly account fee, in advance, based upon the market value of the assets held in
your account as of the last business day of the preceding calendar quarter. Your account fees are
negotiable.

You will receive a full account fee refund in the event that you terminate your client agreement with us
within five business days of signing. If you terminate after the first five days, the account fee will be
credited back to you on a pro-rata basis for the unused portion of the quarter.

Additional, ancillary fees will apply. Please see the Advisor Managed Portfolios Wrap Fee Program
Brochure for further details.

Our Advisor Managed Portfolios account fee schedule is as follows:

Private Management Account and UMA Portfolios
Account Size          Max Annual Fee
$0 to $249,999                  1.90%
$250,000 to $499,999            1.70%
$500,000 to $749,999            1.45%
$750,000 to $1,249,999          1.20%
$1,250,000 and above            1.00%

Fund Allocation Service and Tactical Allocation and Advisor Managed Portfolios
Account Size             Max Annual Fee
$0 to $99,999                   1.40%
$100,000 to $249,999            1.15%
$250,000 to $499,9999           1.00%
$500,000 to $749,999            0.90%
$750,000 to $1,249,999          0.80%
$1,250,000 and above            0.75%

For further details on the wrap program, including costs, please refer to the Wealth
Management Platform – Advisor Managed Portfolios Program Brochure.

Vision2020 Wealth Management Platform – Advisor Managed Portfolios Program

We offer the Advisor Managed Portfolios Program as an account where no separate transactions
charges apply and a single fee is paid for all advisory services and transactions ("Wrap Account").

You will pay a quarterly account fee, in advance, based upon the market value of the assets held in
your account as of the last business day of the preceding calendar quarter. Your account fees are
negotiable and will be debited from your account by our custodian. If you terminate your account, the
account fee will be credited back to you on a pro-rata basis for the unused portion of the quarter.

Additional ancillary fees will apply. Please see the Advisor Managed Portfolio Program Wrap Fee
Program Brochure for further details.

Phase III's portion of the Advisor Managed Portfolio Program account fee will not exceed 1.4%

Vision2020 Wealth Management Platform – Unified Managed Account Program

We offer the Unified Managed Account Program ("UMA") as an account where no separate
transactions charges apply and a single fee is paid for all advisory services and transactions ("Wrap
Account").

You will pay a quarterly account fee, in advance, based upon the market value of the assets held in
your account as of the last business day of the preceding calendar quarter. Your account fees are
negotiable and will be debited from your account by our custodian. If you terminate your account, the
account fee will be credited back to you on a pro-rata basis for the unused portion of the quarter.

Additional ancillary fees will apply. Please see the Wealth Management Platform - Unified
Management Account Wrap Fee Program Brochure for further details.

Phase III's portion of the Unified Management Account Program account fee will not exceed 1.4%

Portfolio Monitoring
Fees are negotiable and are not based on a share of capital gains upon or capital appreciation of the
funds or any portion of the funds. Advisory fees are charged in advance of each calendar quarter.
The quarterly advisory fee will be calculated based on the value of the account on the last business
day of the just completed calendar quarter. Fees for partial period will be prorated. Therefore,
advisory fees will be prorated for accounts established during a calendar quarter or closed during a
calendar quarter. The initial quarterly fee will be a prorated portion of the fee based on the number of
days remaining in the calendar quarter.

Account Size             Max Annual Fee
$0 to $100,000                 0.60%
$100,001 to $250,000           0.40%
$250,001to $500,000            0.25%
$500,000 to $1M                0.15%
Over $1M                       0.10%

You can elect to pay your portfolio monitoring fees through AdvicePay, a 3rd-party software platform.
The platform will allow you to enter your own credit card and/or ACH information into the secure
AdvicePay client portal. We will send you an invoice outlining your quarterly portfolio monitoring fee.

Portfolio monitoring fees are recalculated on any accounts on which advisors and/or Phase III are not
compensated any other way and are covered by the portfolio monitoring service, for asset allocation
and financial planning advice.

Financial Planning and Consultative Services

The fees for our financial planning and consultative services will be billed at $360/hr or as negotiated
on a case by case basis. All fees are payable upon completion of the service.
...

Item 7 Types of Clients
Phase III's services are geared toward individuals both high net worth and other than high net worth,
trusts, estates, or charitable organizations and corporations and other business entities.

Phase III generally requires a minimum amount of assets be deposited to an account for the purpose
of obtaining asset management services or to participate. Minimums apply to per account and are not
based on an aggregate of assets in multiple accounts or programs.

Program                                                                            Account Minimum
Private Management Account and UMA Portfolios*                                           $50,000
Fund Allocation and Tactical Allocation Service and Advisor Managed Portfolios           $25,000

Phase III has the discretion to elect to waive the minimum account size requirement or make an
exception and accept accounts less than the above stated minimums. Such circumstances include but
not be limited to additional assets will soon be deposited, you have other accounts under management
with Phase III, multiple family members are clients, and you are a long time client. You are advised
performance will suffer due to difficulties with diversifying smaller accounts and due to risk controls
being compromised. Therefore, the performance of smaller accounts will vary from the performance of
accounts with more dollars invested.

*Managers in the UMA Portfolios set their own minimum account size.