Seneca Private Wealth LLC

Item 5 – Fees and Compensation

How We Are Compensated for Our Advisory Services

Our fees vary among the different types of advisory services we offer and may be negotiated at our sole discretion.
The specific fees and manner in which fees are charged and calculated are described in your investment advisory
agreement. You should carefully review the investment advisory agreement prior to signing it.

Fees for our advisory services may be higher than fees charged by other advisers who offer similar services. You
may be charged different fees than similarly situated clients for the same services. You should carefully review this
brochure to understand the fees and other sources of compensation that exist among our services prior to entering
into an investment advisory contract with our firm.

Investment and Wealth Management Services

Seneca offers investment and wealth management services for a maximum annual fee of 1.5% based on the amount
of assets under the firm’s management. Advisory fees are negotiated based on the complexity of the engagement
and the total household assets under management prior to the start of the engagement. Certain ERISA rules prevent
householding corporate plans with personal assets for fee reductions. While in most situations the advisory fee will
be a flat percentage across all accounts of a client (based on the aggregate value of all household accounts), in some
cases we may agree to a reduced advisory fee percentage for one or more particular accounts. You should refer to
your advisory agreement for your specific fee rate(s).

Fees are generally billed in advance each calendar quarter based on the market value of the assets under
management/advisement on the last day of the previous calendar quarter. Seneca, in our sole discretion, can
negotiate or waive the annual fee based upon certain criteria, including, but not limited to, anticipated future earning
capacity and/or additional assets, dollar amount of assets to be managed, related accounts, account composition,
pre-existing client relationships, account retention, and pro bono activities. For investment and wealth management
services Seneca provides to certain clients or for specific client holdings (e.g., held-away assets, 529 plans, etc.),
we may negotiate a fee rate that differs from our standard investment management fees.

Selection of Independent Managers

Fees for Independent Managers are set forth by the Independent Manager and are in addition to Seneca’s fees. You
should refer to the Independent Manager’s investment management agreement and Form ADV Part 2A Brochure
for information on their fees and compensation.

Financial Planning and Consulting Services

For clients not retaining Seneca for investment advisory services, Seneca provides financial planning and/or
consulting services which are billed on an hourly or fixed rate in advance. Depending on the scope of the work to
be performed, Seneca will determine the fees for the project work, which will be disclosed within the agreement
with the client and Seneca will require a retainer for the services which is payable upon entering into the agreement.
The balance of the fee is due and payable upon receipt of the final consulting or planning services. Hourly fees
generally range up to $400 per hour.

Factors we consider when determining our financial planning and consulting fees include, but are not limited to:

    •   The amount of time we expect to spend completing the financial planning or consulting services and
        providing related advice;

    •   The complexity of your goals, issues and/or needs;

    •   The extensiveness and complexity of the data needed regarding your personal financial information;

    •   Your net worth or the value of your investment accounts and/or other assets that are the subject of the
        financial planning or consulting services; and/or

    •   Special circumstances related to life changes, marital status, health or special income needs, or growth or
        decline of a personal business.

Though Seneca will request a retainer to initiate financial planning and consulting services; we will not request
prepayment of fees more than $1,200 in advisory fees more than six months in advance.

You can engage Seneca for additional investment management services to assist with implementing one or more
financial planning recommendations. You will incur additional fees if you retain our firm for such services. You
have complete freedom in selecting an investment adviser to assist you in implementing any recommendations by
Seneca and are under no obligation to act upon the advice we provide.

For consulting services, the investment advisory agreement between Seneca and the client will continue in effect
until terminated by either party. For stand-alone financial planning services, the agreement between Seneca and the
client will terminate upon delivery of the plan or completion of the service.

Estate Planning Services

Seneca will calculate and disclose the estate planning fee based on the client’s specific estate planning needs, nature
of services and the complexity of their circumstances. All fees are agreed upon in a written agreement and are
separate from the investment advisory fees noted above.

1031 Real Estate Exchange Services

For clients that avail themselves of the 1031 real estate exchange services noted in Item 4, these assets will be
included in the client’s aggregated household total which is billed upon in accordance with the Wealth Management
services fees noted above.

Fiduciary and Non-Fiduciary Services for Plan Sponsors

The annual fee for Seneca’s plan services is charged on a quarterly basis and is based on a percentage of the assets
within the plan and ranges up to 1.00% per annum. The annual fee will be based upon several factors including the
size of the plan, the number of participants, the number of locations as well as the method of employee education
and services required.
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Item 7 – Types of Clients

Seneca provides portfolio management services to individuals, high net worth individuals and families, pension and
profit-sharing plans, trusts, estates, charitable institutions, foundations, corporations, and other business entities.

Seneca generally requires a minimum initial investment of $2,000,000 for investment management services. The
firm, in its sole discretion, may accept clients with smaller portfolios based upon each client’s particular
circumstances.

Certain Independent Managers may impose more restrictive account requirements and varying billing practices than
Seneca. In such instances, Seneca may alter its corresponding account requirements and/or billing practices to
accommodate those of the Independent Managers.