Redmond Asset Management LLC

Item 5 - Fees and Compensation
Our services include developing and implementing an Investment Management Agreement (“IMA”),
continuously monitoring client portfolios, and reporting the results to the client on a quarterly basis. We are
compensated with an annual asset-based management fee that is charged quarterly in advance. The fee is based
on a percentage of the client’s assets under management as valued by the client’s custodian at the end of each
calendar quarter.

RAM may charge up to a 2.00% annualized fee, depending on the size and type of account and the services
provided. In certain situations, a single account is charged a fee higher than 2.00% because we have deducted
the total fee for other accounts of the same client. However, the combined fee that RAM charges for all
accounts under each client relationship does not exceed 2.00%.

The standard fee rates are:

Equity Strategies
        Core Growth, Conservative Growth, Growth at a Reasonable Price (“GARP”), Global ETF, and Small
        Cap Core Growth
        1.00% on the first $2 million
        0.75% on the next $3 million
        0.50% thereafter

        Equity Income
        0.85% on the first $2 million
        0.75% on the next $3 million
        0.50% thereafter

Fixed Income Strategies
        Fixed Income and Municipal Bond
        0.50% flat

All fees are negotiable. Since fees are negotiable, different fees are charged for similar services and may be less
than or higher than the stated fee schedule in this brochure or any other RAM fee schedule.

Investment advisory services begin with the effective date of the agreement, which is the date that the client
signs the Investment Management Agreement. Typically, fees are deducted directly from the client’s brokerage
account pursuant to a written agreement. RAM uses discretion when a client has insufficient cash in the account
to cover advisory fees. For example, RAM may postpone collection of the fee until cash becomes available.
Clients outside of wrap programs may choose to pay an invoice via check.

Capital contributions or withdrawals from a client’s account, in an amount greater than $250, will cause a pro-
rated adjustment to the management fee for the benefit of the client in the case of withdrawals and for the
benefit of RAM in the case of contributions.

Either RAM or the client may terminate the agreement at any time upon 30 days written notice to the other
party. Sub-advisory clients should communicate their desire for termination directly with their primary advisor
or the wrap program sponsor.

If a client closes an account prior to the end of the quarter, the client will be refunded the pro rata amount of
any fees paid in advance. The client is responsible for paying for services rendered until the termination of the
agreement. The client can cancel the agreement without incurring management fees within the first five days
after signing the agreement.

Separately Managed Accounts

The management fee for separately managed accounts is negotiated between RAM and the client. The fee is
deducted from the account, or the client may write a check.

Model Accounts & Unified Managed Accounts

The fee for model accounts and UMAs is negotiated between RAM and the outside firms or registered
representatives to which it provides updated models. The outside firm or registered representative pays by
check, ACH, or wire.

Sub-Advisory

When RAM serves as a sub-advisor to other investment management firms, the asset-based management fee is
negotiated between RAM and the primary advisor or RAM, the primary advisor, and the end-client. Financial
intermediaries deduct or bill management fees and pay sub-advisory fees directly to RAM.

Wrap Fee Programs

For wrap fee accounts, the program sponsor calculates and deducts the asset-based management fee from the
client account and then pays RAM via check or wire. The fee and service arrangements are negotiated between
the plan sponsor and the client. Sometimes RAM, the plan sponsor, and the client negotiate management fees.

Other Fees and Expenses

Advisory fees charged by RAM are separate and distinct from other fees and expenses charged by securities,
including but not limited to mutual funds, ETFs, REITs, and partnerships, which may be bought for clients. A
description of these fees and expenses is available in each fund’s prospectus.

Additionally, the fees charged by RAM are exclusive of all custodial and transaction fees paid to custodians,
brokers, or any other third parties. Clients should review all fees charged by RAM, custodians, brokers and
others to fully understand the total amount of fees incurred. RAM does not charge start-up or termination fees.

Neither RAM nor any of its supervised persons receive compensation for the sale of securities. However, other
conflicts of interest may exist for services provided to RAM because of broker-dealer, custodian, or mutual fund
selection. Please refer to the Brokerage Practices and Client Referrals and Other Compensation sections of this
brochure.

Item 7 - Types of Clients
RAM offers investment management services primarily on a discretionary basis, in which we select investments
and place trades on the client’s behalf without prior consultation. A portion of our assets under management
qualify as non-discretionary, in which we typically provide general investment advice or will consult with the
clients prior to placing any trades in the account. We primarily build and manage portfolios for individuals,
trusts, retirement accounts (IRAs, pensions, and profit-sharing plans), corporations, foundations, and
endowments. We are capable of building and managing portfolios for municipalities and other institutions such
as investment companies.

RAM had a limited number of clients who were registered representatives and Sponsors and/or Overlay
Managers of Unified Managed Accounts for whom it provided updates to model portfolios. We communicated
any updates to the model via email or by accessing a Unified Managed Account platform and inputting changes.

RAM prefers a minimum account size requirement of $100,000 for individual investors, but we may waive this
requirement for any reason, especially for younger clients seeking to establish a long-term relationship and for
relatives of existing clients.

RAM does not discriminate on the basis of race, color, national origin, disability, sex, marital status, parental
status, religion, sexual orientation, political beliefs, or because all or a part of an individual's income is derived
from any public assistance program.