Sovran Advisors LLC

ITEM 5 – FEES AND COMPENSATION
The Firm and your Advisor are compensated in several ways. The Firm wants to ensure Clients understand how the Firm and your
Advisor are compensated as well as the other costs associated with your Account. As described in greater detail below, Sovran charges
different types of fees, including fees based on a percentage of assets under management, fixed fees, and hourly fees. The specific fees
charged by Sovran for its services will be set forth in the Client’s Agreement. Fees are negotiable under certain circumstances at the
sole discretion of Sovran. In addition, Sovran has full discretion to waive its advisory fees in their entirety. Although Sovran believes its
advisory fees are competitive, clients should be aware that lower fees for comparable services may be available from other sources.

Please note that certain “legacy clients” of the Firm will have a fee schedule and/or billing practices that differ from those disclosed herein.
Legacy clients are those clients that had a pre-existing arrangement with an investment adviser representative before that investment
adviser representative became registered with Sovran. In those instances, the specific fees and billing practices will be as described in
the respective legacy client’s agreement.

    A. Fixed and Hourly Fees
The Firm generally charges an hourly fee, fixed fee, or both for its financial planning services. The Firm’s fees vary and are dependent
upon the scope and complexity of the requested services and are specified as part of the Client’s Agreement. These rates can be
negotiated based on the sole discretion of the Firm.

           1. Fees for One-Time Services.
Clients receiving “one-time” services are generally assessed a fixed fee and/or an hourly fee. Generally, rates range from $2,500 –
$80,000 on a fixed fee basis, or from $250 – $750 on an hourly rate basis. Clients are generally requested to pay 50% of the estimated
fee upon execution of the Agreement. In the case of services rendered on an hourly fee basis, an invoice is issued on completion of the
services rendered,, and any balance due is payable upon receipt. Clients under a one-time Agreement can terminate the Agreement,
without penalty, at any time upon written notice. At the time of termination, any prepaid fees will be prorated based on the amount of work
completed by the Firm as of the date the notice of termination is received, and any unearned fees will be returned to the client. It is possible
that if the client seeks to terminate this Agreement and substantial work has been done to provide services to the Client, the Client may
not receive any return of the initial payment.

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          2. Fees for Ongoing Services
 Clients engaging for “ongoing” Services are generally assessed an initial setup fee from $1,000 - $15,000, and an ongoing fixed monthly
 or annual fee. Generally, ongoing fixed fees range from $2,500 – $80,000 per annum. Generally, Sovran bills monthly, at the beginning
 of each calendar month, at a rate of one-twelfth (1/12th) the annual fee per month. In some cases, Sovran provides clients the ability to
 pay fees for ongoing services on an annual basis, but that is only available in instances where the annual fee does not exceed $2,000.

          3. Payment Methods
 Sovran utilizes AdvicePay platform as its primary method to process financial planning fees. AdvicePay is a secure third-party payment
 processing application that will provide clients with invoices from Sovran for services rendered. Clients agree to make all payments
 through AdvicePay under the terms of client’s separate AdvicePay Account. Payments may be automatically processed through
 AdvicePay via debit card, ACH, or credit card. Client acknowledges that Sovran will not maintain control, copies, or custody of client’s
 credit card or payment information at any point. As part of the Client Agreement, clients typically agree to set up and register an account
 with AdvicePay (“AdvicePay Account”) so that clients can timely pay Sovran invoices through AdvicePay’s portal.

 At times, in its sole discretion, Sovran will allow clients the ability to pay for financial planning services via check or via a non-qualified
 advisory account under Sovran’s management. Clients provide written authorization permitting ongoing financial planning fees to be
 deducted by Sovran to be paid directly from their account[s] held by the Custodian as part of the financial planning agreement and any
 applicable separate account forms required by the Custodian. Clients will be provided with periodic statements from the Custodian
 reflecting deduction of the fee. It is the responsibility of the client to verify the accuracy of these fees as listed on the Custodian’s brokerage
 statement as the Custodian does not assume this responsibility. Debiting client advisory accounts for financial planning fees creates a
 risk to the client in that such deductions will result in lesser returns on their advisory accounts. The Financial Planning Fee Agreement
 shall serve as the invoice for both one-time fixed fees and the initial annual fee when the client chooses to pay via check or advisory
 account. A separate written invoice may be provided upon client request. In the case of annual fees, the client may be invoiced annually.

      B. Fees Based Upon a Percentage of Assets Under Management
 For receiving Investment Management Services, Clients pay an asset-based fee, calculated monthly, in arrears, based on the average
 daily balance during the billing period. At no time will the total Client Fee exceed two percent (2.0%) of the Client’s assets under
 management. The Client Fee is comprised of the following, as applicable (collectively the “Client Fee”):

          1. Advisor Fee
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ITEM 7 – TYPES OF CLIENTS
    A. Description
Sovran provides advisory services to individuals, high net worth individuals, charitable organizations, corporations, tax-qualified retirement
plans, and other institutions (“Client”).

     B. Conditions for Managing Accounts
The Firm generally requires a minimum initial investment of $25,000 for its APM and UMA Program Platforms. However, the Firm reserves
the right to accept or decline a potential Client for any reason in its sole discretion. Further, Client assets managed by a Strategist and/or
TPIM may be required to maintain certain minimum investment amounts.

Prior to engaging the Firm to provide any of the investment advisory services described in this Brochure, the Client will be required to
enter into one or more written Agreements with the Firm setting forth the terms and conditions under which the Firm shall render its
services.

There are times when certain restrictions are placed by Clients which prevent Sovran from accepting or continuing to manage the Account.
Sovran reserves the right to not accept and/or terminate management of a Client’s Account if it feels that the Client imposed restrictions
which would limit or prevent it from meeting and/or maintaining its overall investment strategy.