Wealth Management Associates Inc

Item 5 – Fees and Compensation

In addition to the information provide in Item 4 – Advisory Business, this section provides additional
details regarding our firm’s advisory services along with descriptions of each service’s fees and
compensation arrangements.

                                            Financial Planning

WMA offers comprehensive financial planning services to clients. Our associated persons will meet with
the client to determine the client’s needs, goals and objectives. Upon completion of the initial information
and data gathering session, our associated persons will prepare and present a comprehensive financial
plan to the client. In addition to preparing comprehensive financial plans, we also offer consultation

Wealth Management Associates, Inc.                                                           Disclosure Brochure

services which can include assisting clients with settlement of estates. Our associated persons will meet
with the client to determine the level of financial planning service that should be provided to the client.
Fees for financial plans can be charged on either a fixed or hourly basis, and the client and our
associated persons will together determine which fee option best suits the client’s needs. Both fixed and
hourly fees are negotiable depending upon the complexity of the client’s financial situation, the
relationship of the client to the advisor and the actual services provided. Fixed fees normally range from
$100 to $25,000 while the hourly rate will not exceed $150 per hour. Fees will be determined and
disclosed to you prior to services being provided. If billed on an hourly basis, our associated persons will
provide you with an estimate of the hours needed to complete the requested services. However, you will
be billed for the actual time expended on the requested services. Whether fees are billed on a fixed or
hourly rate, a mutually agreed to retainer fee may be charged to you at the time the initial contract is
signed. The remainder of the fees will be due and payable upon completion of services.

In some cases, you may choose to contract with us for consultation services rather than having a
comprehensive financial plan prepared. These consultations can be on any topic of interest to the client
and will be billed at a rate of up to $150 per hour, depending upon the person providing the consultation
and the complexity of the client’s situation. Our associated persons and the client will jointly estimate the
number of consultations needed. If the consultation service is completed in one meeting, the fee will be
due upon completion of the meeting. If more than one meeting is anticipated, a retainer of $100 may be
due at the time the client agreement is signed, with the remainder due upon completion of the
consultation services.

We will never require payment of more than $1200 in fees more than six months in advance.

If the consultations include estate settlement activities, our associated persons may need to refer a
portion of the services to outside professionals (i.e., attorneys, accountants, etc.) for additional
assistance. Fees charged by outside professionals are separate and distinct from the fees charged by
WMA.

Services terminate upon presentation of the financial plan to you and/or completion of the consultation
services. Either party may terminate services at any time by notifying the other party. Termination will be
effective upon receipt of notice of termination. If services are terminated within five business days of
signing the client contract, services will be terminated without penalty. After the initial five business days,
we will bill you on a prorated basis pursuant to the time and effort expended prior to receipt of notice of
termination. Any unearned fees paid in advance will be refunded promptly.

                                     Qualified Retirement Plan Services

WMA offers retirement plan services to retirement plan sponsors and to individual participants in
retirement plans. For a corporate sponsor of a retirement plan, our retirement plan services can include,
but are not limited to, the following services:

Fiduciary Consulting Services

WMA provides the following Fiduciary Retirement Plan Consulting Services:

    •    Non-Discretionary Investment Advice. WMA provides general, non-discretionary investment
         advice regarding assets classes and investment options, consistent with your plan’s investment
         policy statement.

Wealth Management Associates, Inc.                                                             Disclosure Brochure

    •    Investment Selection Services. WMA provides recommendations of investment options consistent
         with ERISA section 404(c).

    •    Investment Due Diligence Review. WMA provides periodic due diligence reviews of the plan’s
         reports, investment options and recommendations.

    •    Investment Monitoring. WMA assists in monitoring investment options and will make
         recommendations to maintain or remove and replace investment options.

WMA acknowledges that in performing the Fiduciary Consulting Services described above that WMA is
acting as a “fiduciary” as such term is defined under Section 3(21)(A)(ii) of Employee Retirement Income
Security Act of 1974 (“ERISA”) for purposes of providing non-discretionary investment advice only. WMA
will act in a manner consistent with the requirements of a fiduciary under ERISA if, based upon the facts
and circumstances, such services cause WMA to be a fiduciary as a matter of law. However, in providing
the Fiduciary Consulting Services, WMA (a) has no responsibility and will not (i) exercise any
discretionary authority or discretionary control respecting management of Client’s retirement plan, (ii)
exercise any authority or control respecting management or disposition of assets of Client’s retirement
...

Item 7 – Types of Clients

WMA generally provides investment advice to the following types of clients:

    •    Individuals
    •    Banks or thrift institutions
    •    Pension and profit sharing plans
    •    Trusts, estates, or charitable organizations

Wealth Management Associates, Inc.                                                            Disclosure Brochure

                                     Minimum Investment Amounts Required

As a general rule, WMA requires a minimum of $50,000 to establish and maintain a managed account
with the firm. All minimums are negotiable at the discretion of WMA.

Third-party money managers may have minimum account and minimum fee requirements in order to
participate in their programs. Each-third party money manager will disclose its minimum account size and
fees in its Form ADV Part 2A Disclosure Brochure.