VPWM Advisors LLC

Item 5: Fees and Compensation
Method of Compensation and Fee Schedule
 ASSET MANAGEMENT
 VPWM offers direct asset management services to advisory Clients. VPWM charges an
 annual investment advisory fee based on the total assets under management as follows:
       Assets Under Management              Annual Fee                Quarterly Fee
            Up to $100,000                    2.50%                     0.6250%
          $100,001 - $500,000                 2.00%                     0.5000%
         $500,001 - $1,000,000                1.50%                     0.3750%
           Above $1,000,000                   1.25%                     0.3125%
 LPL Platform
 Fees for LPL Advisory Programs
 The account fee charged to the Client for each LPL advisory program is negotiable, subject
 to the following maximum account fees:
 Manager Access Select       3.0%*
 OMP                         2.5%
 PWP                         2.5%
 MWP                         2.65%**
 SMS                         0.95%***
 GWP                         1.35%****
 *The maximum Manager Access Select account fee for new accounts was reduced to 2.5%
 effective July 3, 2017.
 **The MWP account fee consists of an LPL program fee, a strategist fee (if applicable) and
 an advisor fee of up to 2.00%. Accounts remaining under the legacy fee structure may be
 charged one aggregate account fee, for which the maximum account fee is 2.50%. See the
 MWP program brochure for more information.
 **The SMS fee consists of an LPL program fee of 0.20% (subject to a minimum program fee
 of $250), and an advisor fee of up to 0.75%.
 ***GWP Managed Service Clients are charged an account fee consisting of an LPL program
 fee of 0.35% and an advisory fee of up to 1.00%. In the future, a strategist fee may apply.
 However, LPL Research currently serves as the sole portfolio strategist and does not charge
 a fee for its services. FutureAdvisor is compensated directly by LPL for its services,
 including the Algorithm and related software, through an annual sub-advisory fee (tiered
 based on assets under management by FutureAdvisor, at a rate ranging from 0.10% to
 0.17%). As each asset tier is reached, LPL’s share of compensation shall increase, and
 Clients will not benefit from such asset tiers.
 GWP Educational Tool provides access to sample recommendations at no charge to users.
 However, if users decide to implement sample recommendations by executing trades, they
 will be charged fees, commissions, or expenses by the applicable broker or adviser, as well
 as underlying investment fees and expenses.

Account fees are payable quarterly in advance, except that the SMS fee is paid in arrears on
the frequency agreed to between Client and VPWM.
Excluding SMS and GWP, LPL serves as program sponsor, investment advisor and broker-
dealer for the LPL advisory programs. In the Managed Service of GWP, LPL is appointed by
each Client as custodian of account assets and broker-dealer with respect to processing
securities transactions for the accounts. In general, FutureAdvisor, in its capacity as
investment advisor, will submit transactions through LPL; however, FutureAdvisor may
choose to execute transactions through a broker-dealer other than LPL, subject to its duty
to seek to achieve best execution. When securities transactions are effected through LPL,
there are no brokerage commissions charged to the account. If FutureAdvisor chooses to
execute a transaction through a broker-dealer other than LPL, the execution price may
include a commission or fee imposed by the executing broker-dealer. In evaluating
whether to execute a trade through a broker-dealer other than LPL, Future Advisor will
consider the fact that the account will not be charged a commission if the transaction is
effected through LPL.
VPWM and LPL may share in the account fee and other fees associated with program
accounts. Associated persons of VPWM may also be registered representatives of LPL.
Under SMS, LPL serves as investment advisor but not the broker-dealer. VPWM and LPL
may share in the advisory portion of the SMS fee.
Manager Access Select Program
A minimum account value of $50,000 is required for Manager Access Select, however, in
certain instances, the minimum account size may be lower or higher.
Optimum Market Portfolios Program (OMP)
A minimum account value of $10,000 is required for OMP. In certain instances, LPL will
permit a lower minimum account size.
Personal Wealth Portfolios Program (PWP)
A minimum account value of $250,000 is required for PWP. In certain instances, LPL will
permit a lower minimum account size.
Model Wealth Portfolios Program (MWP)
MWP requires a minimum asset value for a program account to be managed. The
minimums vary depending on the portfolio(s) selected and the account’s allocation
amongst portfolios. The lowest minimum for a portfolio is $25,000. In certain instances, a
lower minimum for a portfolio is permitted.
Guided Wealth Portfolios (GWP)
A minimum account value of $5,000 is required to enroll in the Managed Service.
LPL serves as program sponsor, investment adviser, and broker-dealer for the LPL
advisory programs. Our firm and LPL may share in the account fee and other fees
associated with program accounts. Our firm does not have the authority to instruct LPL
Financial to change or deduct fees without written Client consent. As a part of your regular
monthly statement from LPL Financial, the Activity Summary section shows all fees
deducted from the Clients’ accounts.
The annual fee is negotiable based upon certain criteria (e.g., historical relationship, type of
assets, anticipated future earning capacity, anticipated future additional assets, dollar
amounts of assets to be managed, related accounts, account composition, negotiations with
Clients, etc.). Fees are billed quarterly in advance based on the amount of assets managed

as of the close of business on the last business day of the previous quarter. If margin is
...

Item 7: Types of Clients
Description
 VPWM generally provides investment advice to individuals, high net worth individuals,
 pension and profit-sharing plans, corporations, and business entities. Client relationships
 vary in scope and length of service.
Account Minimums
 VPWM does not require a minimum to open or maintain an account.

 LPL Platform
 Manager Access Select Program
 A minimum account value of $50,000 is required for Manager Access Select, however, in
 certain instances, the minimum account size may be lower or higher.
 Optimum Market Portfolios Program (OMP)
 A minimum account value of $10,000 is required for OMP. In certain instances, LPL will
 permit a lower minimum account size.
 Model Wealth Portfolios Program (MWP)
 MWP requires a minimum asset value for a program account to be managed. The
 minimums vary depending on the portfolio(s) selected and the account’s allocation
 amongst portfolios. The lowest minimum for a portfolio is $25,000. In certain instances, a
 lower minimum for a portfolio is permitted.
 Guided Wealth Portfolios (GWP)
 A minimum account value of $5,000 is required to enroll in the Managed Service.