Richardson Wealth USA Limited

Item 5   Fees and Compensation
Investment Management Fee

RW (USA) provides investment management services for an annual f ee based upon a percentage of the market value
of the assets being managed by RW (USA). RW (USA)’s annual f ee is exclusive of , and in addition to brokerage
commissions, transaction f ees, and other related costs and expenses which are incurred by the client. RW (USA)
does not, however, receive any portion of these commissions, f ees, and costs. RW (USA)’s annual f ee is prorated
and charged monthly or quarterly, in arrears, based upon the market value of the assets being managed by RW
(USA) on the last day of the month. The annual f ee varies (between 0.25% and 2.75%) depending upon the market
value of the assets under management and the type of investment management services to be rendered.

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

Fees Charged by Financial Institutions

As f urther discussed in response to Item 12 (below), RW (USA) generally recommends that clients utilize the brokerage
and clearing services of Pershing Advisor Solutions LLP (“Pershing”) f or investment management accounts. RW
(USA) is not af f iliated with Pershing but typically uses them to custody client assets and execute client transactions.

RW (USA) may only implement its investment management recommendations f or the client af ter the client has
arranged f or and f urnished RW (USA) with all inf ormation and authorization regarding accounts with appropriate
f inancial institutions. Financial institutions shall include, but are not limited to, Pershing, another broker-dealer
recommended by RW (USA), a broker-dealer directed by the client, trust companies, banks etc. (collectively referred
to herein as the “Financial Institutions”).

Clients may incur certain charges imposed by the Financial Institutions and other third parties such as custodial
f ees, charges imposed directly by a mutual fund or ETF in the account, which are disclosed in the f und’s prospectus
(e.g., f und management fees and other fund expenses), deferred sales charges, odd-lot dif f erentials, transf er taxes,
wire transf er and electronic f und fees, and other fees and taxes on brokerage accounts and securities transactions.
Additionally, clients may incur brokerage commissions and transaction f ees. Such charges, f ees and commissions
are exclusive of and in addition to RW (USA)’s f ee.

RW (USA)’s Agreement and the separate agreement with any Financial Institutions may authorize the institution to
debit the client’s account f or the amount of RW (USA)’s f ee and to directly remit that management f ee to RW
(USA). Any Financial Institutions recommended by RW (USA) have agreed to send a statement to the client, at
least quarterly, indicating all amounts disbursed f rom the account including the amount of management f ees paid
directly to RW (USA).

                 Richardson Wealth is a registered trademark of James Richardson & Sons, Limited used under license.

Richardson Wealth (USA) Limited Form ADV Part 2A: Firm Brochure                                                             8

Item 7           Types of Clients
RW (USA) g enerally provides its services to t he f o llo wing t y p es o f c lient s :

    •   Individuals
    •   Trusts
    •   Estates
    •   Corporations and business entities

You are required to execute a written agreement with RW (USA) specifying the particular advisory services in order to
establish a client arrangement with RW (USA). Clients must typically have a minimum of $100,000 in assets, but this
may be waived at RW (USA) discretion.