Sensible Portfolios LLC

ITEM 5 – FEES AND COMPENSATION
  5a: Investment Management Fees

             Assets Under Management                                        Annual Fee (%)
             Up to $1,000,000.00                                            0.70%

             $1,000,001.00 and above                                        0.10%

  The fee includes the time and activities necessary to work with your attorney and/or accountant in reaching
  agreement on solutions, as well as assisting them in implementation of all appropriate documents. We are
  not responsible for attorney or account fees charged to you as a result of the above activities.

       ADV PART 2 A BROCHURE                                                                              PAGE 4 OF 10

Compensation for our services will be calculated in accordance with what is set in the client’s agreement.
We may modify the terms of any agreement by written changes submitted to the client for signature. All
Investment Advisors are required to disclose to their clients that lower fees for comparable services may be
available from other sources.

5b: Fee Payments Options
Sensible fees are paid from your account by the custodian when we submit an invoice to them showing the
amount of fees, the value of the client’s assets on which the fees are based, and the specific manner in
which the fees are calculated. If there is insufficient cash in your account to pay your fees, an equal balance
of securities in your portfolio may be sold to pay our fee. In addition to our fees, there may be custodial,
mutual fund or similar third party management fees and charges. A limited number of clients have been set
up to pay directly via invoice to Sensible. We also offer clients the option of paying their fees with a credit
card.

5c: Third Party Fees
You are responsible for the payment of all third-party fees (i.e. custodian fees, mutual fund fees, transaction
fees, etc.). Those fees are separate and distinct from the fees we charge.

All brokerage commissions, stock transfer fees, and other similar charges incurred in connection with
transactions for the account will be paid out of the assets in the account and are in addition to the
investment management fees paid to us. While we take measures to ensure the fees charged are accurate,
it is your responsibility to ensure the amount of fee charged is correct. You will receive statements directly
from these brokers, custodians or mutual funds or other investments you hold. We strongly urge you to
review these statements for accuracy. You are responsible for the payment of all third-party fees (i.e.
custodian fees, mutual fund fees, 12b-1 fees, transaction fees, etc.). Those fees are separate and distinct
from the fees we charge. Please see Item 12 for additional information.

5d: Fee Payments
Client’s asset advisory fees will be billed quarterly in arrears for Schwab account and monthly for Altruist
accounts. In the event that the client’s agreement with Sensible terminates after the end of a calendar year
quarter, Sensible shall charge the client a pro-rata fee based on the number of days in which the client’s
assets have been under management.

For California Residents: Subsection (j) of Rule 260.238, California Code of Regulations requires that all
investment Advisors disclose to their clients that lower fees for comparable services may be available from
other sources. Pursuant to California Rule 260.235.2, if a conflict exists between the interests of the Advisor
or its associated persons and the interest of the client; the client is under no obligation to act upon this
Advisor's or associated person's recommendations. If the client elects to act on any of the
recommendations, the client is under no obligation to effect the transaction through the advisor or its
associated person when the person is an agent with a licensed broker-dealer or through any associate or
affiliate of such person.

     5.d.1: Termination
     Either Sensible or our clients can terminate our agreement upon receipt of written notice to the other
     party, to include written agreement to changes by the client. Clients shall have five (5) days from the
     date of signing their advisory agreement with Sensible to cancel it and receive a complete refund of
     their advisory fee.

     When an agreement is terminated, we will refund any pre-paid, unearned fees based on the number
     of days remaining in the quarter after termination. Refunds will be made within 30 calendar days of
     the effective date of termination.

     ADV PART 2 A BROCHURE                                                                               PAGE 5 OF 10

        When an agreement is terminated, all assets may need to be transferred from the current custodian.
        You will be responsible for paying all fees including full quarterly custodial administrative fees, account
        closure fees, mutual fund fees and all trading costs due to the termination. Custodian may assess
        additional fees for transfer of illiquid investments. If there is insufficient cash in the account, the
        liquidation of some securities may be used to pay the fees. Prior to termination of an agreement, we
        can provide a good-faith estimate of these fees.

   5e: Other Investment Compensation
   Sensible does not accept commission for the sale of securities or other investment products, including asset-
   based sales charges or service fees from the sale of mutual funds.

ITEM 7 – TYPES OF CLIENTS
   Sensible generally provides asset management services to the following types of clients:
      § Individuals
      § High-Net-Worth Individuals
      § Asset Management only (for “Invest” clients)
      § Financial Planning (for “Plan” clients)
      § Pension and Profit Sharing Plans
      § Trusts

   Minimum Account Size
   We do not have a minimum account size.