Private Advisor Group LLC

Item 5: Fees and Compensation
A. General Discussion of Fees
    The client can determine to engage the Registrant to provide discretionary and/or non- discretionary
    investment advisory services on a wrap or non- wrap fee basis.

    The Registrant generally charges a fee based on a percentage of the assets to be managed, which is typically
    negotiated between the client and the IAR within in a range set by the Registrant. Agreeing to a fee based on
    a percentage of the assets to be managed creates a disincentive for the Registrant or its IARs to perform
    additional work for a client because that work will not increase the compensation to be paid. The Registrant
    can agree to charge a fixed or flat fee for its services, charging a specific dollar amount for a specific time
    period. Agreeing to a fixed fee creates a conflict of interest where the Registrant or its IARs have no incentive
    to perform additional work for the client since the Registrant and its IARs will earn no additional compensation
    for that work. The Registrant can also agree to charge an hourly fee for all time spent working on the client’s
    behalf. Agreeing to an hourly fee can create a conflict of interest where the Registrant or its IARs have an
    incentive to perform additional work for the client because it will earn additional compensation for any
    additional work. The Registrant supervises its IARs and these types of fee arrangements to mitigate these
    types of conflicts of interest.

B. Investment Advisory Services Fees
    If a client determines to engage the Registrant to provide discretionary and/or non-discretionary investment
    advisory services on a non-wrap fee basis, the Registrant’s annual investment advisory fee shall be based

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    upon a percentage (%) of the market value and type of assets placed under the Registrant’s management to
    be charged quarterly in advance, and Registrant’s IARs have discretion to negotiate a fee with a maximum of
    2.00% (two percent). Registrant’s annual investment advisory fee shall include investment management.

    The client can negotiate the annual advisory fee based upon various objective and subjective factors
    including, but not limited to, the types of assets being managed, the amount of the assets placed under the
    Registrant’s direct management, the amount of the assets placed under the Registrant’s advisement (assets
    that are generally managed directly by the client or by other investment professionals engaged by the client,
    for which the Registrant provides review/monitoring services, but does not have trading authority), the
    complexity of the engagement, and the level and scope of the overall investment advisory services to be
    rendered, and additional assets having been placed with the advisor for management and the likelihood of
    additional assets being placed with the advisor for management as a result of the advisor having a relationship
    with an association, organization, group or company.

    Client accounts will be billed by the custodian directly for brokerage commissions and/or transaction fees
    charged by the custodian. The Registrant has the option to mutually agree with a client to charge that client a
    flat fee, not based on a percentage of value and assets under the Registrant’s management but rather a
    specific dollar amount for a particular set of services for a specific period of time or for the duration of the
    relationship. As part of this alternative fee, the Registrant at times also agrees to charge a client an hourly fee
    for a particular set of services.

    Fees for the Registrant’s wrap fee programs are discussed in the Legacy WealthSuite Brochure and General
    Wrap Brochure, available at privateadvisorgroup.com/pag-disclosure-documents or by contacting your IAR.

C. Financial Planning and Consulting Services Fees
    To the extent requested by a client, the Registrant provides financial planning 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 on a fixed fee basis or on an
    hourly rate basis, depending upon the level and scope of the services required and the professionals rendering
    the services.

    The financial planning or consulting services and the charge for those services will be set forth in a separate
    written agreement with the client. Fees for these services should be paid to the Registrant as stated in the
    Registrant’s standard agreement.

D. Ticket Charges/Ticket Fees
    There are conflicts of interest to consider in connection with the selection of mutual funds and a specific
    transaction cost commonly known as ticket charge or ticket fee associated with each mutual fund transaction.
    Clients do not pay any ticket charges in their Program accounts or TAMP wrap fee program accounts, but IARs
    pay these ticket charges to the custodian where the trades occur for each client account.

    As background, custodians often make available mutual funds that offer various classes of shares. Some share
    classes of a fund charge higher internal expenses, whereas other share classes of a fund charge lower internal
    expenses. Institutional and advisory share classes (collectively, “institutional shares” or “institutional share
    classes”) typically have lower expense ratios and are less costly for a client to hold than Class A shares or other

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    share classes that are eligible for purchase in an advisory account. In some instances, a mutual fund offers
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Item 7: Types of Clients
The Registrant’s clients shall generally include individuals, business entities, trusts, estates and charitable
organizations. The Registrant does not generally require an annual minimum fee or minimum asset level for
investment advisory services. Certain investment programs or investment products require annual minimum
fees or minimum asset levels for participation. Clients should thoroughly review disclosure materials or brochures
and consult with their IAR about implications of such minimum requirements before investing in such programs
or products.