Sellwood Investment Partners LLC

Item 5. Fees and Compensation
Sellwood’s sole source of revenue is fees paid to us by our clients. The specific manner in which
fees are charged by Sellwood is established in a client’s Investment Advisory Agreement. The
two most common fee arrangements for our general investment advisory services are fixed
annual retainer fees and fees based on the percentage of assets under advisement.

Fees are typically billed quarterly per the schedule outlined in the client’s executed Investment
Advisory Agreement. Fees may be paid via check or electronic remittance directly from the
client. A client may also authorize Sellwood to directly deduct our fees from their custodial
accounts.

Clients may also engage our firm on a project basis for one or more of the services described in
Item 4. Fees for project relationships are billed at a rate that is reflective of the nature of the
assignment and may involve a fixed dollar fee or an hourly rate for our services. The entire fee
may be required at the commencement or completion of the project, or a portion of the fee may
be paid upfront with the balance billed upon completion of the project.

Fees in General

Fees for all services are negotiable based upon relevant criteria, including such considerations as
size and complexity of the client portfolio, client service demands, travel requirements, and
economies of scale with related accounts.

Account Termination

The client may terminate the agreement at any time upon 30 days notice by providing us written
notice at our principal place of business. Upon termination of any account, any prepaid, unearned
fees will be promptly refunded, and any earned, unpaid fees will be due and payable.

Third-Party Manager, Mutual Fund and ETF Fees

All fees paid to our firm are for investment advisory services only, and are separate and distinct
from the fees and expenses charged by investment managers we may recommend to you. Those
fees and expenses are described in the applicable investment management agreement, or in the
case of mutual funds and ETFs, the respective fund's prospectus. A client could invest directly in
a mutual fund, ETF, collective fund, private placement, or separately managed account, without
the services of our firm. In that case, the client would not receive the services provided by us
which are designed to, among other things, assist the client in determining which investments
are most appropriate to their financial condition and objectives. Accordingly, the client should
review both the fees charged by the investment managers and the fees charged by us to fully
understand the total amount of fees to be paid and thereby evaluate the advisory services
provided.

Brokerage and Custodial Fees

In addition to advisory fees paid to our firm, clients will also be responsible for all transaction,
brokerage, trade-away, and custodial fees incurred as part of their account management with the
selected third-party service providers. Please see Item 12 of this Brochure for important
disclosures regarding our brokerage practices.

Item 7. Types of Clients
Our firm provides investment advisory to charitable organizations, corporations or other
business entities, Taft-Hartley funds, high net worth individuals, state or municipal
governmental entities, healthcare organizations, and insurance companies. These clients include
a variety of plan types including endowments, foundations, defined benefit, defined contribution,
health and welfare, operating reserves, taxable trusts, and insurance pools. We do not impose a
minimum account size. Any minimum client fees imposed are dependent upon the unique
circumstances of the client relationship.