Summit Financial LLC

Item 5. Fees and Compensation

Investment Services Fees

When a Client engages Summit to provide investment management services, Summit charges an annual
advisory fee and in wrap accounts, a program fee. Clients in the SEI programs, the Envestnet program,
or the AssetMark/Genworth program do not pay the program fee to Summit, and only pay an advisory
fee to Summit. Both the advisory fee and the program fee are negotiable. For additional information
regarding the negotiability of these fees, please contact your Financial Advisor or Summit at
research@sfr1.com.

       Advisory Fee

Financial Advisors set their own advisory fees and/or flat fees for their services, as long as the
maximum advisory fees do not exceed those on the advisory fee schedule, below. Financial Advisors
consider various factors in determining what advisory fee to charge, which may include the nature and
size of the overall Client relationship with the Financial Advisor and/or the type of advisory products
or services likely to be provided through the Financial Advisor. As discussed below, Clients with
assets with TPMs or in Outside Investment Monitoring programs typically pay fees directly to other
parties as well as to Summit.
Since Summit began providing these services, it has had other legacy advisory fee schedules in effect,
which may be higher than described below. As new advisory fee and program schedules are put into
effect, they are made applicable only to new Clients and fees to existing Clients are not affected.
Therefore, some existing Clients pay different advisory fees than shown below.
The maximum advisory fee for the programs is 1.50%, exclusive of the program fee, sub-
advisory fees, third-party manager fees, platform fees, and fees not covered by a Wrap Program
that are charged by the Qualified Custodian.

Summit's advisory fees for all programs are included in the written Investment Management

                                                                         Summit's Investment Advisory Disclosure Brochure
                                                                         July 10, 2026

Agreement between Summit and the Client. As noted above, advisory fees are negotiable at the sole
discretion of Summit. Summit may also charge an upfront "portfolio design fee" for the initial
allocation, which amount is not included in the annual maximum. If such fees are charged, they will be
noted on a written agreement with the Client. Moreover, since Financial Advisors can negotiate their
own fee arrangements, some Clients pay flat rates for services rather than asset-based charges, which
are deducted differently.

       Pontera Fee

In the Pontera program, there is an additional charge of 30 bps to Clients; 25 bps is paid to Pontera for
use of the Pontera platform and a 5 bps fee is paid to Summit for its administrative services charge.
The compensation creates an incentive for Summit to recommend the Pontera platform over other
platforms.

For information regarding the fees charged in connection with Summit's wrap fee programs, please see
Summit's Wrap Fee Program Brochure.

       Summit Program Fee

As noted above, persons who participate in any of the programs described in Summit's Wrap Fee
Program Brochure also pay an annual program fee (“Program Fee”). Some clients who move their
accounts to Summit from another firm will pay different fees than clients who open new accounts at
Summit. The Program Fee includes for all accounts an annual Account Maintenance charge of $120 per
year billed monthly or quarterly depending on the billing frequency of the account. Therefore, there is
a benefit to Summit to opening more accounts, but the portfolio construction and design, including how
many accounts are appropriate, is the responsibility of the IAR, who does not participate in the Account
Maintenance fee payments. There is also a benefit to Summit for advisors selecting programs that have
a higher Program Fee.

Beginning in 2026, certain Financial Advisors will share in Program Fees as additional compensation
or credits against expenses. In addition, certain Financial Advisors will receive a higher multiple if they
sell part or all of their Advisor Revenue to Summit or an affiliate or receive a forgivable loan to join
Summit from another firm based on a higher amount of assets in the Managed Portfolios or TPM
programs. These programs have higher Program Fees than the APM program, which creates an
incentive for Advisors to recommend the programs with the higher Program Fee. If you have any
questions regarding the Program Fee or incentives, please ask your Financial Advisor.

Financial Advisors who enroll clients in APM programs are billed for ticket charges, except at
Goldman Sachs, because Goldman charges an asset-based fee regardless of ticket charges. This creates
a conflict because IARs that do more trading or have higher ticket charges are incented to select
Goldman Sachs, compared with other Qualified Custodians. Goldman also charges Summit an asset-
based fee instead of ticket charges like other Qualified Custodians do. Therefore, since the asset-based
fee can be a higher or lower cost to Summit, lower operational costs incentivize use of Goldman by
Summit’s Advisors, depending on a Client’s account holdings and trading frequency.

For APM program assets custodied at Goldman Sachs, Program Fees for clients are not discounted
based on asset size. In addition, since Summit pays Goldman an asset-based fee, the Program Fee for
APM accounts is not discounted.

                                                                        Summit's Investment Advisory Disclosure Brochure
                                                                        July 10, 2026

Although part of the SAA, APM or FMA program, assets in Wealth Manager-Directed Non-
Discretionary or Wealth Manager-Directed Discretionary programs are not subject to Summit's
Program Fee.
...

Item 7. Types of Clients

Summit primarily provides investment advice and/or management supervisory services to the
following types of Clients:

     •   Individuals and personal trusts
     •   High Net Worth Individuals
     •   Corporations and/or Business Entities
     •   Pension & Profit Sharing Plans
     •   Charitable Organizations

Minimum Account Size

The minimum account size for TDS Managed Portfolios is $100,000, which can be waived at Summit's
discretion. There is no minimum account size associated with the SAA, APM or FMA programs. Some
TPMs have minimums of $25,000 to $1,000,000. Any minimum account size is outlined in the IMA
entered into by the Client. Exceptions to minimum account size requirements may be negotiated.