TLC Group Investment Advisors LLC

Fees and Compensation

                                                                                   Form ADV Part 2A, Item 5

The Firm’s annual fee shall be charged monthly or quarterly, in advance or arrears, depending upon the
individual client agreements, and based upon the market value of the assets on the last day of the previous

quarter. While the majority of the firm’s fees are calculated and charged on a quarterly basis, the firm
maintains some qualified retirement plans with a custodian who calculates a monthly fee based on an average
weighted daily balance method. The annual fee shall vary (between 0.50% and 2.00%) depending upon the
market value of the assets under management and the type of investment management services to be rendered.

The Firm, in its sole discretion, may negotiate to charge a lesser management fee based upon certain criteria
(i.e., anticipated future earning capacity, anticipated future additional assets, dollar amount of assets to be
managed, related accounts, account composition, pre-existing client, account retention, pro bono activities,
etc.).

Clients may incur certain charges imposed by the Financial Institution(s) and other third parties such as fees
charged by Independent Managers (as defined below), custodial fees, charges imposed directly by a mutual
fund or exchange traded fund in the account, which shall be 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.
Additionally, clients may incur brokerage commissions and transaction fees. Such charges, fees and
commissions are exclusive of and in addition to the Firm’s fee.

The Firm’s Agreement and/or the separate agreement with the Financial Institution(s) may authorize the Firm
through the Financial Institution(s) to debit the client’s account for the amount of the Firm’s fee and to directly
remit that management fee to the Firm in accordance with applicable custody rules. The Financial Institution(s)
recommended by the Firm have agreed to send a statement to the client, at least quarterly, indicating all
amounts disbursed from the account including the amount of management fees paid directly to the Firm. In
addition, we will send a written invoice itemizing the fee, including any formula used to calculate the fee, the
time period covered by the fee, and the amount of assets under management on which the fee was based.

Additions may be in cash or securities provided that the Firm reserves the right to liquidate any transferred
securities or decline to accept particular securities into a client’s account. The Firm may consult with its clients
about the options and ramifications of transferring securities. However, clients are advised that when
transferred securities are liquidated, they are subject to transaction fees, fees assessed at the mutual fund level
(i.e. contingent deferred sales charge) and/or tax ramifications.

                           Performance-Based Fees and Side-By-Side Management

                                                                                       Form ADV Part 2A, Item 6
None.

Types of Clients

                                                                                       Form ADV Part 2A, Item 7

Individuals, pension plans, profit sharing plans, trusts, estates, charitable organizations, corporations and other
business entities.

The Firm does not impose a minimum portfolio size or minimum annual fee. Certain Independent Manager(s)
may, however, impose more restrictive account requirements and varying billing practices than the Firm. In
such instances, the Firm may alter its corresponding account requirements and/or billing practices to
accommodate those of the Independent Manager(s).

                          Methods of Analysis, Investment Strategies and Risk of Loss

                                                                                         Form ADV Part 2A, Item 8

Our primary methods of analysis are fundamental, technical analysis, and third-party money manager analysis.

Fundamental analysis involves analyzing individual companies and their industry groups, such as a
company’s financial statements, details regarding the company’s product line, the experience, and expertise of
the company’s management, and the outlook for the company’s industry. The resulting data is used to measure
the true value of the company’s stock compared to the current market value. The risk of fundamental analysis is
that information obtained may be incorrect and the analysis may not provide an accurate estimate of earnings,
which may be the basis for a stock’s value. If securities prices adjust rapidly to new information, utilizing
fundamental analysis may not result in favorable performance.

Technical analysis involves using chart patterns, momentum, volume, and relative strength in an effort to pick
sectors that may outperform market indices. However, there is no assurance of accurate forecasts or that trends
will develop in the markets we follow. In the past, there have been periods without discernible trends and
similar periods will presumably occur in the future. Even where major trends develop, outside factors like
government intervention could potentially shorten them.

Furthermore, one limitation of technical analysis is that it requires price movement data, which can translate
into price trends sufficient to dictate a market entry or exit decision. In a trendless or erratic market, a technical
method may fail to identify trends requiring action. In addition, technical methods may overreact to minor price
movements, establishing positions contrary to overall price trends, which may result in losses. Finally, a
technical trading method may under perform other trading methods when fundamental factors dominate price
moves within a given market.

Third-Party Money Manager Analysis involves the examination of the experience, expertise, investment
philosophies, and past performance of independent third-party investment managers in an attempt to determine
if that manager has demonstrated an ability to invest over a period of time and in different economic conditions.
We monitor the manager’s underlying holdings, strategies, concentrations and leverage as part of our overall
periodic risk assessment. Additionally, as part of our due-diligence process, we survey the manager’s
compliance and business enterprise risks. A risk of investing with a third-party manager who has been
successful in the past is that he/she may not be able to replicate that success in the future. In addition, as we do
not control the underlying investments in a third-party manager’s portfolio, there is also a risk that a manager
may deviate from the stated investment mandate or strategy of the portfolio, making it a less suitable
investment for our clients. Moreover, as we do not control the manager’s daily business and compliance
operations, we may be unaware of the lack of internal controls necessary to prevent business, regulatory or
reputational deficiencies.

Material Risks Involved

All investing strategies we offer involve risk and may result in a loss of your original investment which
you should be prepared to bear. Many of these risks apply equally to stocks, bonds, commodities and any
other investment or security. Material risks associated with our investment strategies are listed below.

Market Risk: Market risk involves the possibility that an investment’s current market value will fall because
of a general market decline, reducing the value of the investment regardless of the operational success of the
issuer’s operations or its financial condition.

Strategy Risk: The Adviser’s investment strategies and/or investment techniques may not work as intended.

Small and Medium Cap Company Risk: Securities of companies with small and medium market
capitalizations are often more volatile and less liquid than investments in larger companies. Small and medium
cap companies may face a greater risk of business failure, which could increase the volatility of the client’s

portfolio.

Turnover Risk: At times, the strategy may have a portfolio turnover rate that is higher than other strategies. A
high portfolio turnover would result in correspondingly greater brokerage commission expenses and may result
in the distribution of additional capital gains for tax purposes. These factors may negatively affect the account’s
performance.

Limited markets: Certain securities may be less liquid (harder to sell or buy) and their prices may at times be
more volatile than at other times. Under certain market conditions we may be unable to sell or liquidate
investments at prices we consider reasonable or favorable or find buyers at any price.

Concentration Risk: Certain investment strategies focus on particular asset-classes, industries, sectors or types
of investment. From time to time these strategies may be subject to greater risks of adverse developments in
such areas of focus than a strategy that is more broadly diversified across a wider variety of investments.
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