PKS Advisory Services LLC

Item 5. Fees and Compensation
         PKSA offers its services on a fee basis, which includes fixed fees as well as fees based upon assets
         under management. Additionally, certain of PKSA’s Supervised Persons, in their individual capacities,
         offer securities brokerage services and insurance products under a commission arrangement.

         Financial Planning and Consulting Fees

         PKSA may charge a fixed fee for financial planning and consulting services. Clients may also receive
         certain financial planning services as part of the overall investment management fee described below.
         These fees are negotiable, but generally range from $500 to $1,000 on a fixed fee basis, depending upon
         the level and scope of the services and the professional rendering the financial planning and/or the
         consulting services. If the client engages PKSA for additional investment advisory services, PKSA may
         offset or waive all or a portion of its fees for those services based upon the amount paid for the financial
         planning and/or consulting services.

         Prior to engaging PKSA to provide financial planning and/or consulting services, the client is required to
         enter into a written agreement with PKSA setting forth the terms and conditions of the engagement.
         Generally, PKSA requires one-half of the financial planning / consulting fee (estimated fixed) payable
         upon entering the written agreement. The balance is generally due upon delivery of the financial plan or
         completion of the agreed upon services.

         Investment Management Fee

         PKSA provides investment management services for an annual fee based upon a percentage of the
         market value of the assets being managed by PKSA. PKSA’s annual fee is exclusive of, and in addition

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         PKS Advisory Services, LLC Disclosure Brochure

         to brokerage commissions, transaction fees, and other related costs and expenses which are incurred by
         the client. PKSA does not, however, receive any portion of these commissions, fees, and costs. PKSA’s
         annual fee is generally prorated and charged quarterly, in advance, based upon the market value of the
         assets being managed by PKSA on the last day of the previous quarter. In limited circumstances, PKSA
         may alter its billing practices to charge in arrears, monthly or semi-annually based on the needs of the
         clients and the programs in which they are invested. The annual fee varies up to 2.00%, depending upon
         the market value of the assets under management, the type of investment management services to be
         rendered, and the experience of the investment adviser representative providing the services. The Firm
         includes cash in a client’s account in determining the valuation for billing purposes. The Firm may, in its
         sole discretion, not include cash in determining the fee, especially where a client has a high percentage of
         cash for reasons other than the Firm's investment management decision.

         Fee Discretion

         PKSA, in its sole discretion, may negotiate to charge a lesser management fee based upon certain
         criteria (i.e., anticipated future earning capacity, anticipated future additional assets, dollar amount of
         assets to be managed, related accounts, account composition, pre-existing client, account retention, pro
         bono activities, etc.).

         Additional Fees and Expense

         In addition to the advisory fees paid to PKSA, clients also incur certain charges imposed by other third
         parties, such as broker-dealers, custodians (including those custodians recommended by PKSA as
         discussed in response to Item 12), trust companies, banks and other financial institutions (collectively
         “Financial Institutions”). These additional charges include securities brokerage commissions, transaction
         fees, custodial fees, fees charged by the Independent Managers, charges imposed directly by a mutual
         fund or ETF in a client’s account, as disclosed in the fund’s prospectus (e.g., fund management fees and
         other fund expenses), deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and
         electronic fund fees and other fees and taxes on brokerage accounts and securities transactions. Such
         charges, fees and commissions are exclusive of and in addition to PKSA’s fee.

         Fee Debit
         PKSA’s Agreement and the separate agreement with any Financial Institutions authorize PKSA or
         Independent Managers to debit the client’s account for the amount of PKSA’s fee and to directly remit that
         management fee to PKSA or the Independent Managers. Any Financial Institutions recommended by
         PKSA have agreed to send a statement to the client, at least quarterly, indicating all amounts disbursed
         from the account including the amount of management fees paid directly to PKSA. Alternatively, clients
         may elect to have PKSA send an invoice for payment.

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          PKS Advisory Services, LLC Disclosure Brochure

          Fees for Management During Partial Quarters of Service

          For the initial period of investment management services, the fees are calculated on a pro rata basis.

          The Agreement between PKSA and the client will continue in effect until terminated by either party
          pursuant to the terms of the Agreement. PKSA’s fees are prorated through the date of termination and
          any remaining balance is charged or refunded to the client, as appropriate.
...

Item 7. Types of Clients
          PKSA generally provides its services to individuals.       However, the firm may also provide advice to
          pension and profit sharing plans, trusts, estates, charitable organizations, corporations and business
          entities.

          Minimums Imposed By Independent Managers

          PKSA does not impose a minimum portfolio size or minimum annual fee. Certain Independent Managers
          may, however, impose more restrictive account requirements and varying billing practices than PKSA. In
          such instances, PKSA may alter its corresponding account requirements and/or billing practices to
          accommodate those of the Independent Managers.

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          PKS Advisory Services, LLC Disclosure Brochure