Physician Wealth Advisors Inc

Item 5 – Fees and Compensation

We are a fee-based investment advisor which means our investment management fees
are based upon an annual percentage of assets under management. We believe this
method of compensation helps to minimize potential conflicts of interest.

Compensation to us for investment advisory services will be calculated in accordance
with “Schedule A” of the Investment Advisory Agreement (IAA) which is entered into with
each client. We reserve the right to amend the fee but only upon 30 days prior written
notice to each client.

                                       Fee Schedule

            Assets Under Management                                 Annual Fee

            Assets between $0 and $250,000                          .80%
            Assets between $250,000 and $1,000,000                  .70%
            Assets between $1,000,000 and $2,000,000                .60%
            Assets between $2,000,000 and $10,000,000               .50%
            Assets above $10,000,000                                .40%

Accounts managed by Physician Wealth Advisors are billed in arrears, after services for
the quarter are rendered and based on an average daily balance. Market value will be
construed to equal the sum of the values of all assets in the account, not adjusted by any
margin debit. Most commonly, fees are debited directly from the client’s account(s).
Payment of fees may result in the liquidation of securities within the account if there is not
sufficient cash to pay the fees. With special approval, the client may be invoiced. A client
agreement may be terminated by either party for any reason, by written notice to the
other. Upon termination of any client agreement any advisory fees will be collected
through the date of termination.

Financial planning services are provided as a benefit of membership in the UMA (Utah
Medical Association). Basic financial planning consultations and services are offered at
no cost to member physicians and others. More in-depth financial planning may be
provided for investment management clients as part of their ongoing investment
management relationship.

In order to help clients address certain risks and other planning considerations, certain
investment advisor representatives or other employees of the Firm are licensed to sell
insurance products. In such cases, all commissions received for insurance sales are paid
directly to the Firm. No supervised person associated with us receives or accepts any
compensation for the sale of securities or insurance products.

Clients may incur certain charges imposed by custodians, brokers, and other third parties
such as fees charged for custodial fees, mutual fund charges, odd‐lot differentials,
transfer taxes, wire transfers and electronic funds fees and other fees and taxes on
brokerage accounts and securities transactions. Mutual funds and exchange-traded
funds also charge internal management fees, which are disclosed in a fund’s prospectus.
Such charges, fees, and commissions are exclusive of and in addition to the Firm’s fees.
Physician Wealth Advisors does not receive any portion of these commissions, fees, or
other charges.

The Firm also offers customized consulting services for retirement, pension, 401(k),
403(b), 457, Money Purchase, and or deferred compensation plan(s).

Rollover Recommendations
As part of our investment advisory services to you, we may recommend that you roll
assets from your employer’s retirement plan, such as a 401(k), 457, or ERISA 403(b)
account (collectively, a “Plan Account”), to an individual retirement account, such as a
SIMPLE IRA, SEP IRA, Traditional IRA, or Roth IRA (collectively, an “IRA Account”) that
we will manage on your behalf. We may also recommend rollovers from IRA Accounts to
Plan Accounts, from Plan Accounts to Plan Accounts, and from IRA Accounts to IRA
Accounts. When we provide any of the foregoing rollover recommendations we are acting
as fiduciaries within the meaning of Title I of the Employee Retirement Income Security
Act (“ERISA”) and/or the Internal Revenue Code (“IRC”), as applicable, which are laws
governing retirement accounts.

If you elect to roll the assets to an IRA that is subject to our management, we will charge
you an asset-based fee as set forth in the advisory agreement you executed with our firm.
This creates a conflict of interest because it creates a financial incentive for our firm to
recommend the rollover to you (i.e., receipt of additional fee-based compensation). You
are under no obligation, contractually or otherwise, to complete the rollover. Moreover, if
you do complete the rollover, you are under no obligation to have the assets in an IRA
managed by our firm. Due to the foregoing conflict of interest, when we make rollover
recommendations, we operate under a special rule that requires us to act in your best
interests and not put our interests ahead of yours.

Under this special rule’s provisions, we must:

    meet a professional standard of care when making investment recommendations
     (give prudent advice);
    never put our financial interests ahead of yours when making recommendations
     (give loyal advice);
    avoid misleading statements about conflicts of interest, fees, and investments;
    follow policies and procedures designed to ensure that we give advice that is in
     your best interests;
    charge no more than a reasonable fee for our services; and
    give you basic information about conflicts of interest.

Many employers permit former employees to keep their retirement assets in their
company plan. Also, current employees can sometimes move assets out of their company
plan before they retire or change jobs. In determining whether to complete the rollover to
an IRA, and to the extent the following options are available, you should consider the
costs and benefits of a rollover.

Note that an employee will typically have four options in this situation:
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Item 7 – Types of Clients

The Firm serves the members of the Utah Medical Association (UMA) and their family
members. Under limited circumstances, Physician Wealth Advisors works with non-

members of the UMA. We also provide products and services to other entities in
connection with UMA member physicians’ practices.

As a result, we provide investment advice to the following types of clients:

   •   Individuals
   •   Corporations
   •   Foundations
   •   Endowments
   •   Pension and profit sharing plans
   •   Trusts, estates, or charitable organizations

Because each client is unique, we encourage client involvement in the planning and
processes associated with the management of their accounts. Such involvement does
not have to be time consuming as we support our clients in remaining informed about
their investments.

Due to the nature of our practice, there is no minimum investment requirement to have
an investment management relationship with Physician Wealth Advisors.