TFB Advisors LLC

Item 5. Fees and Compensation
      TFB Advisors offers services on a fee basis, which includes fixed fees, as well as fees based upon assets
      under management. Additionally, certain of the Firm’s Supervised Persons, in their individual capacities,
      offers securities brokerage services and/or insurance products under a separate commission-based
      arrangement.

      Financial Planning and Consulting Fees

      TFB Advisors charges a fixed fee for providing financial planning and consulting services under a stand-
      alone engagement. These fees are negotiable, but range from $500 to $5,000 depending upon the scope and
      complexity of the services and the professional rendering the financial planning and/or the consulting
      services. The fee can be for a defined project, such as the delivery of a plan, or for ongoing services. If the
      client engages the Firm for additional investment advisory services, TFB Advisors can offset all or a portion
      of its fees for those services based upon the amount paid for the financial planning and/or consulting
      services.

      The terms and conditions of the financial planning and/or consulting engagement are set forth in the
      Advisory Agreement. For project-based services TFB Advisors requires one-half of the fee (estimated
      hourly or fixed) payable upon execution of the Advisory Agreement. The outstanding balance is due upon
      delivery of the financial plan or completion of the agreed upon services. Ongoing services are charged as
      described in the investment management section, below. The Firm does not, however, take receipt of
      $1,200 or more in prepaid fees, six or more months in advance of services rendered.

      Investment and Wealth Management Fees

      TFB Advisors offers investment and wealth management services for an annual fee based on the amount of
      assets under the Firm’s management. This management fee varies between 25 and 150 basis points (0.25%
      –1.5 %), depending upon the size and composition of a client’s portfolio, the type and amount of services
      rendered and the individual(s) providing the services.

      The annual fee is prorated and charged quarterly, in advance, based upon the market value of the assets
      being managed by TFB Advisors on the last day of the previous quarter as determined by a party
      independent from the Firm (including the client’s custodian or another third-party).

      If assets are deposited into or withdrawn from an account totaling $2,500 or more after the inception of
      a billing period, the fee payable with respect to such assets is adjusted to reflect the interim change in
      portfolio value. For the initial period of an engagement, the fee is calculated on a pro rata basis. In the
      event the advisory agreement is terminated, from the effective date of termination to the end of the quarter

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 Disclosure Brochure                                                                      TFB Advisors, LLC

      is the unearned portion of the management fee which is refunded to the client as appropriate.

      Additionally, for asset management services TFB Advisors provides with respect to certain client holdings
      (e.g., held-away assets, accommodation accounts, alternative investments, etc.), TFB Advisors can negotiate
      a fee rate that differs from the range set forth above. Clients are advised that a conflict of interest exists for
      TFB Advisors to recommend that clients engage TFB Advisors for additional services for compensation,
      including rolling over retirement accounts or moving other assets to TFB Advisors management.
      Clients retain absolute discretion over all decisions regarding engaging TFB Advisors and are under no
      obligation to act upon any of the recommendations.

      Retirement Plan Consulting Fees

      TFB Advisors charges as fixed project-based fee or asset-based fee to provide clients with retirement plan
      consulting services. Each engagement is individually negotiated and tailored to accommodate the needs of
      the individual plan sponsor, as memorialized in the Agreement. These fees vary, based on the scope of the
      services to be rendered, the amount of assets to be advised on and the Supervised Persons providing the
      services.

      Fee Discretion

      TFB Advisors may, in its sole discretion, negotiate to charge a lesser fee based upon certain criteria, such
      as anticipated future earning capacity, anticipated future additional assets, dollar amount of assets to be
      managed, related accounts, account composition, pre-existing/legacy client relationship, account retention,
      pro bono activities, or competitive purposes.

      Additional Fees and Expenses

      In addition to the advisory fees paid to TFB Advisors, clients also incur certain charges imposed by other
      third parties, such as broker-dealers, custodians, trust companies, banks and other financial institutions
      (collectively “Financial Institutions”). These additional charges include securities brokerage commissions,
      transaction fees, custodial fees, fees charged by the Independent Managers, margin and other borrowing
      costs, charges imposed directly by a mutual fund or ETF in a client’s account, as disclosed in the fund’s
      prospectus (e.g., fund management fees and other fund expenses), deferred sales charges, odd-lot
      differentials, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage
      accounts and securities transactions. The Firm’s brokerage practices are described at length in Item 12,
      below.

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 Disclosure Brochure                                                                     TFB Advisors, LLC

      Direct Fee Debit

      Clients provide TFB Advisors and/or certain Independent Managers with the authority to directly debit their
...

Item 7. Types of Clients
      TFB Advisors offers services to individuals, trusts, estates, charitable organizations, corporations and other
      business entities, pension and profit sharing plans.