Pitzl Financial LLC

Item 5 – Fees and Compensation

In certain circumstances, all fees, account minimums and their applications to family
circumstances may be negotiable.

Advance fee payments will never exceed $500 for work that will not be completed within
six months.

Pitzl Financial, LLC has contracted with Focus Partners Advisor Solutions (f.k.a.
Buckingham Strategic Partners), for services including trade processing, collection of
management fees, record maintenance, report preparation, marketing assistance, and
research. Pitzl Financial, LLC has also contracted with Focus Partners Advisor Solutions for
sub-advisory services with respect to clients’ fixed income accounts. Pitzl Financial, LLC
pays a fee for Focus Partners Advisor Solutions services based on management fees paid to
Pitzl Financial, LLC on accounts which use Focus Partners Advisor Solutions. The fee paid
by Pitzl Financial, LLC to Focus Partners Advisor Solutions consists of a portion of the fee
paid by clients to Pitzl Financial, LLC and varies based on the total client assets
participating in Focus Partners Advisor Solutions through Pitzl Financial, LLC. These fees
are not separately charged to advisory clients. The fee charged by Pitzl Financial, LLC to its
clients includes all sub-advisory fees charged by Focus Partners Advisor Solutions.

The specific manner in which fees are charged by Pitzl Financial, LLC is established in a
client’s written agreement with Pitzl Financial, LLC. Investment Management and
Employee Benefit Plan clients will be invoiced in advance at the beginning of each calendar
quarter based upon the value (market value based on independent third party sources or
fair market value in the absence of market value; client account balances on which Pitzl
Financial, LLC calculates fees may vary from account custodial statements based on
independent valuations and other accounting variances, including mechanisms for
including accrued interest in account statements) of the client’s account at the end of the

previous quarter. New accounts are charged a prorated fee for the remainder of the
quarter in which the account is incepted (date of first trade). Typically, the billing begins on
the first day of the calendar month after the client signs the advisory agreement.

For Investment Management, Pitzl Financial, LLC will request authority from the client to
receive quarterly payments directly from the client's account held by an independent
custodian. Clients may provide written limited authorization to Pitzl Financial, LLC or its
designated service provider, Focus Partners Advisor Solutions, to withdraw fees from the
account. Clients will receive custodial statements showing the advisory fees debited from
their account(s). Certain third-party administrators will calculate and debit Pitzl Financial,
LLC’s fee and remit such fee to Pitzl Financial, LLC.

A client agreement may be canceled at any time, by either party, for any reason upon
receipt of thirty (30) days written notice. Clients may terminate their account within five
(5) business days of signing the Investment Advisory Agreement for a full refund. Upon
termination of any account, any prepaid, unearned fees will be promptly refunded. Client
shall be given thirty (30) days prior written notice of any increase in fees, and client will
acknowledge in writing, any agreement of increase in said fees. Lower fees for comparable
services may be available from other sources.

Pitzl Financial, LLC’s fees are exclusive of brokerage commissions, transaction fees, and
other related costs and expenses which shall be incurred by the client. Clients may incur
certain charges imposed by custodians, brokers, third party investment and other third
parties such as fees charged by managers, custodial fees, odd-lot differentials, transfer
taxes, wire transfer and electronic fund 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. These fees will
generally include a management fee and other fund expenses. All fees paid to Pitzl
Financial, LLC for investment advisory services are separate and distinct from the fees and
expenses charged by mutual funds and ETFs to their shareholders.

Such charges, fees and commissions are exclusive of and in addition to Pitzl Financial, LLC’s
fee, and Pitzl Financial, LLC shall not receive any portion of these commissions, fees, and
costs.

Advisory Fees

The annual fee for investment management services will be charged as a percentage of
assets under management, according to the schedule below:

               Principal Amount                           Annual Fee (%)
              On the first $2,000,000                         1.00%
              On the next $3,000,000                          0.75%
              On the next $5,000,000                          0.50%
               Above $10,000,000                              0.25%

All accounts for members of the client’s family (husband, wife and dependent children) or
related businesses may be assessed fees based on the total balance of all accounts.

Financial Planning Services:

Financial planning services are typically provided at no additional charge to clients who
have assets under management with Advisor. When a client does not have assets under
management, or engages Advisor for financial planning services only, Advisor will bill for
financial planning services as follows.

Advisor’s financial planning fees may be negotiable, depending upon the level and scope of
the services required, but generally are $300 per hour. Billing rates for associate advisors
may be at a reduced rate. Financial Planning fees may also be charged on a fixed fee basis,
typically ranging from $1500 to $5000 depending on the nature and complexity of each
client’s circumstances and upon mutual agreement with the client.
...

Item 7 – Types of Clients

Pitzl Financial, LLC provides personalized confidential financial planning and investment
management services to individuals, trusts, estates, pension and profit sharing plans,
charitable organizations, corporations and other businesses entities.