Rench Wealth Management Inc

ITEM 5.	              FEES AND COMPENSATION

        INVESTMENT MANAGEMENT FEES

        RCM bases its investment management fees on a percentage of assets under management. The fees
        are calculated based upon the market value of the assets being managed by RCM on the last day of the
        previous billing period. The annual percentage fee amounts listed in the schedule below are prorated and
        charged quarterly, in advance.

        RCM’s fee schedule is as follows:

                                  PORTFOLIO VALUE                  ANNUAL FEE (%)
                                   First $1,000,000                       1.00%
                                   Next $1,000,000                        0.75%
                                   Over $2,000,000                        0.50%

        If assets in excess of $10,000 are deposited into or withdrawn from an account after the inception of a billing
        period, the fee payable with respect to such assets is prorated to reflect the change in portfolio value. For
        the initial period of an engagement, the fee is calculated on a pro rata basis. In the event the Agreement is
        terminated, the fee for the final billing period is prorated through the effective date of the termination, and
        the unearned portion is refunded to the client, as appropriate.

Investment Adviser Brochure

        FINANCIAL PLANNING AND CONSULTING FEES

        RCM generally charges either a negotiable hourly and/or fixed fee to provide clients with stand-alone
        financial planning and consulting services. These fees are largely determined by the scope and complexity
        of the agreed-upon services and range from $100 to $400 on an hourly basis and $2,500 to $10,000 on a
        fixed-fee basis.

        The specific terms and fee structure are negotiated in advance and set forth in the Agreement. Generally, the
        Firm requires one-half of the financial planning or consulting fee payable upon execution of the Agreement
        and the balance due at the time the financial plan is delivered or the underlying services are rendered to
        completion. If, after the execution of an Agreement to provide financial planning or consulting services, the
        client engages RCM to provide investment management services, RCM may offset all or a portion of its fees
        for those services based upon the amount paid for the financial planning or consulting services, provided
        that RCM will not allow such an arrangement to result in the collection of more than $1,200 in investment
        management fees more than six months in advance for the client to whom such services are rendered.

        FEE DISCRETION

        With respect to any fees described above, whether for investment management, financial planning, or
        consulting services, RCM may, in its sole discretion, negotiate to charge a lesser or greater fee based
        upon certain criteria, such as anticipated future earning capacity, anticipated future additional assets, dollar
        amount of assets to be managed, related accounts, account composition, pre-existing client relationship,
        account retention and pro bono activities.

        ADDITIONAL FEES AND EXPENSES

        In addition to the fees paid to RCM, clients may also incur certain charges imposed by other third parties,
        such as broker-dealers, custodians, trust companies, banks and other financial institutions (collectively
        “Financial Institutions”). These additional charges may include securities brokerage commissions,
        transaction fees, custodial fees, charges imposed directly by a mutual fund or ETF in a client’s account, as
        disclosed in the mutual fund’s or ETF’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. The Firm’s brokerage practices are
        described at length in Item 12, below.

        FEE DEBIT

        Clients generally provide RCM with the authority to directly debit their accounts for payment of the Firm’s
        investment management fees. The Financial Institutions that act as qualified custodian for client accounts

Investment Adviser Brochure

        have agreed to send statements to clients not less than quarterly detailing all account transactions, including
        any amounts paid to RCM.

        ACCOUNT ADDITIONS AND WITHDRAWALS

        Clients may make additions to and withdrawals from their account at any time, subject to RCM’s right
        to terminate an account. Additions may be in cash or securities, provided that the RCM reserves the
        right to liquidate any transferred securities or decline to accept particular securities into a client’s account.
        Clients may withdraw account assets on notice to RCM, subject to the usual and customary securities
        settlement procedures. However, the Firm generally designs its portfolios as long-term investments, and
        the withdrawal of assets may impair the achievement of a client’s investment objectives. RCM may consult
        with its clients about the options and implications of transferring securities. Clients are advised that when
        transferred securities are liquidated, they may be subject to transaction fees, fees assessed at the mutual
        fund level (i.e., contingent deferred sales charge) and/or tax ramifications.

ITEM 7.	              TYPES OF CLIENTS

        IN GENERAL

        RCM primarily provides its services to individuals.

        MINIMUM ACCOUNT SIZE

        In order to engage us for investment advisory services, we generally require new clients to have at least
        $1,000,000 to place under our management; however, this requirement is negotiable at RCM’s discretion,
        especially in the case of family members of existing clients. RCM may aggregate certain related client
        accounts in determining whether or not the minimum account size requirement is satisfied.