Vestor Capital LLC

Item 5: Fees and Compensation

Fee Compensation

   Our Investment and Wealth Management Advisory Fee (“Fee”) is calculated as a percentage of Client’s
   assets under our management. The Fee rate for some Client accounts is calculated on tiered asset values
   because of the size or number of related accounts that are invested in a like-kind strategy. The amount
   of the Fee is specified in the Client’s agreement with us. Fees are negotiable and vary from client to client
   based on a variety of factors, including, but not limited to, our historical relationship with the clients, the
   client’s total assets, assets invested with us and anticipated future assets, complexity of the engagement
   or the number of related accounts. Fees will differ for charitable and non-profit organizations, accounts
   containing securities restrictions and accounts charged on a fixed-fee or adjusted basis. Vestor Capital will
   waive its Fee at any time when it deems it appropriate and/or necessary. Fees also will be adjusted for
   related persons of Vestor Capital or for specific Clients. Generally, fees are assessed on cash, cash
   equivalents, accrued but unpaid interest, and margin balances in Client accounts.

Payment of Fees

   The specific way Fees are charged by Vestor Capital is established in the Client’s agreement with Vestor
   Capital. In general:

   •    Fees for Clients who are subject to our Basic Fee Schedule, determined as a percentage of assets under
        our management, are payable in advance from Client accounts each calendar quarter or part thereof.

                                               Vestor Capital, LLC

   •   Fees for some specific Clients who are subject to our Basic Fee Schedule, and certain legacy Clients,
       determined as a percentage of assets under our management, are payable in arrears from Client
       accounts for each calendar quarter or part thereof.
   •   Fees are assessed on the market value of your assets under management, including cash and cash
       equivalents, accrued interest, accrued dividends and securities purchased on margin.
   •   Co-Investment Adviser Program Fees, determined as a percentage of assets under our management,
       are payable in advance of each calendar quarter or part thereof.
   •   For certain clients, we charge an advisory fee for services provided to the held-away accounts
       mentioned above in Item 4, just as we do with client accounts held at our primary custodian(s). The
       specific fee charged by us is provided in the client’s investment advisory agreement with us.

   Most of the time, we deduct our Fees directly from Clients’ custodial accounts. We invoice some clients
   directly for our Fees.

   Vestor Capital provides a pro-rata refund of any unearned fees within 30 calendar days of the effective
   date of a termination notice from the Client. Earned add-on charges or administrative fees are not subject
   to a refund.

   Vestor Capital will not offset its Fee against management fees of other investment managers, managed
   funds, mutual funds and/or separately managed accounts in which a client’s assets may be invested.

Fee Schedules
    Basic Fee Schedule
                             Annual Fee Schedule for Equity and Balanced Accounts
                                               Asset Fee Tier       Maximum Fee
                             On the First      $1,000,000              1.35%
                             On the next       $2,000,000              1.25%
                             On the next       $2,000,000              1.20%
                             On the next       $1,000,000              1.10%
                             On assets over    $6,000,000              1.00%

                            Annual Fee Schedule for Fixed Income Only Relationships
                                  0.50% subject to a minimum fee of $2,500

       Fees differ for certain charitable and non-profit organizations, accounts containing non-supervised
       securities, accounts charged on a fixed-fee or negotiated basis, and accounts that joined us from Oak.

   Vestor Capital and CIRA Co-Advisory Program Fees
                         Annual Fee Schedule for U.S. Large Cap Core Equity Strategy
                                             Asset Fee Tier       Maximum Fee
                           On the First      $ 500,000               1.95%
                           On the next       $ 500,000               1.65%
                           On assets over    $1,000,000              1.50%

   Ausdal and Vestor Capital Co-Advisory Program Fees
                        Annual Fee Schedule for U.S. Large Cap Core Equity Strategy
                                            Asset Fee Tier      Maximum Fee
                          On the First      $ 500,000                1.75%

                                              Vestor Capital, LLC

                           On the next        $ 500,000               1.70%
                           On assets over     $1,000,000              1.65%

Financial Planning and Consulting Service Fees
Our services for standalone financial planning and consulting services vary widely from client to client and
so our fees for these services are determined on a case-by-case basis. Our fees, which are specified in the
agreement with the Client, may be ongoing fixed fees, determined on an hourly basis, a percentage of
assets under consultation or a one-time flat fee.

Focus Risk Solutions
We help our clients obtain certain insurance solutions from unaffiliated, third-party insurance brokers by
introducing clients to our affiliate, Focus Risk Solutions, LLC (“FRS”), a wholly owned subsidiary of our
parent company, Focus Financial Partners, LLC. FRS assists our clients with regulated insurance sales
activity by advising our clients on insurance matters and placing insurance products for them and/or
...

Item 7: Types of Clients

Vestor Capital provides investment advice to individuals, not-for-profit organizations, foundations and other
institutions, and qualified retirement plans. We typically require new clients to have a minimum of $500,000
to invest.