United Advisors America Corporation

Item 5 – Fees and Compensation

A. Fee	Description	and	Schedule
Pursuant to a written agreement with each client, UAA charges a rate per annum multiplied by
the assets under management. UAA bills this annual advisory fee quarterly, in arrears, based on
the market value of the account, as determined by the account custodian, including cash and cash
equivalents, on the last business day of the quarter. Fees are pro-rated for accounts initiated or
terminated during a calendar quarter. Specifically, fees are calculated as follows: end of quarter
balance multiplied by the management fee percentage applicable to that account, divided by days
in the year (365, except in a leap year), multiplied by the number of days in the relevant quarter.
Fees may be based on household value for billing purposes. Please note, clients with agreements
dated prior to January 2018 may have a different fee schedule. UAA may waive, in whole or in
part, management fees for friends, relatives, or others with whom the Firm or Representative has
established personal or family relationships.

Assets Under Management                                              Annual Fee
Up to and including $1,500,000                                       1.0%
$1,500,001 up to and including $2,500,000                            0.8%
Over $2,500,001                                                      0.6%

Fixed Income Portfolio Management                                    0.5%

   Fee	Deduction
As authorized by each client in writing, UAA will deduct its advisory fees directly from the
client’s account. The client’s account custodian will send account statements, at least quarterly.
Account statements will show all disbursements from the account, including the amount of the
advisory fees which were deducted directly from the account, if any.

Alternatively, Clients may pay fees directly to UAA. For clients that pay directly, payment is due
upon receipt of the billing statement.

   Third	Party	Fees	and	Expenses
UAA’s advisory fees do not include brokerage commissions, transaction fees, and other related
costs and expenses, for which the client is responsible. Client may incur certain charges imposed
by custodians, broker-dealers, third-party investment companies and other third parties such as

fund manager’s management fees, custodial fees, sales loads, deferred sales charges, 12(b)-1
fees, surrender charges, variable annuity fees and surrender charges, odd-lot differentials,
transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage
accounts and securities transactions. Mutual funds and exchange traded funds also charge
internal management fees, which are disclosed in a fund’s prospectus. UAA will not receive any
portion of these fees or charges.

   Termination
Either party may terminate the Investment Management Agreement upon 30 days’ written notice
to the other party. If services are terminated within five (5) business days of executing the
Investment Management Agreement, services will be terminated without penalty and no fees
shall be due. If services are terminated after the initial five (5) business day period, UAA will
prorate any fees due and bill them to the client.

If either party terminates the relationship, the termination becomes effective on the 31st day after
written notification is delivered to the other party, or at another time to which the parties agree,
subject to the settlement of transactions in progress and the final payment of advisory fees. There
will be no penalty charge upon termination.

Upon termination of any account, earned, unpaid fees will be immediately due and payable.

   Transactional	Compensation
Most of our representatives are also agents for Alliance America Corporation, an insurance
agency which is licensed to offer life and health insurance products. Alliance America
Corporation is an advisory affiliate of UAA because it’s owned by the same individuals.

When acting in their capacity as insurance agents, our representatives are able to recommend
insurance, annuity, health and long-term care insurance products. Any insurance product sales
will result in the agent receiving a commission from the insurance carrier.

This results in conflicts of interest for our representatives. First, the receipt of commissions
provides an incentive to the representative to recommend these products. Second, representatives
will only recommend insurance products of those insurance companies for whom they are sales
agents and with which they are familiar with the benefits, exclusions and other terms. Finally,
our representatives can only offer insurance products through Alliance America Corporation.

These conflicts of interest are mitigated in several ways: representatives have access to a
considerable number of different insurance products offered by numerous insurance companies;
clients are not obligated to purchase recommended insurance products in order to remain a client

of UAA; all insurance product purchases are subject to the insurance company’s suitability
requirements and review; UAA discloses these conflicts to our clients; and finally, we conduct
our operations in accordance with our fiduciary duty and the firm’s code of ethics.

Item 7 – Types of Clients

UAA offers its services to the following types of clients: individuals and high net worth
individuals, their trusts and estates, and pension and profit-sharing plans.

There are no minimum investment requirements for clients of the firm prior to April 1, 2024.
After April 1, 2024, there is a minimum investment requirement of Fifty Thousand Dollars
($50,000.00) per household for new clients. A household is defined as one physical mailing
address affiliated and/or associated with an account. By way of example, if a husband and wife
who live at the same address have a total of three accounts with balances of $10,000, $12,000,
and $35,000, respectively, the $50,000 per household threshold is met despite none of the
accounts totaling the $50,000 threshold. Additionally, if a client has been referred to the firm by
a preexisting client of the firm, this $50,000 threshold shall not apply.