Wells Financial Advisors Inc

Item 5 – Fees and Compensation

      A. FEES FOR ADVISORY SERVICES
      Account Portfolio Management
      Investment Advisory Fees are paid quarterly in advance pursuant to the terms of the Investment
      Advisory Agreement. Investment Advisory Fees are based on the market value of assets under
      management at the end of the prior calendar quarter. Prorated adjustments made for account
      deposits and withdrawals during the course of a billing quarter are applied at the next billing
      interval, if such adjustment would result in a $1 or more change to the client’s fee. Investment
      Advisory Fees can range from 1.25% to 0.50%. Typical fees are as follows:

                              Assets Under Management                         Annual Rate
                               Up to $749,999                                   1.25%
                               $750,000 to $1,499,999                           1.00%
                               $1,500,000 to $2,999,999                         0.90%
                               $3,000,000 to $5,999,999                         0.80%
                               $6,000,000 to $8,999,999                         0.70%
                               $9,000,000‐$11,999,999                           0.60%
                               $12,000,000 and Over                              0.50%

      Investment Advisory Fees in the first quarter of service are prorated to the inception date of the
      account to the end of the first quarter. Fees may be negotiable at the discretion of the Advisor.
      Depending upon various facts and circumstances specific to each client, a Client’s fees may take
      into consideration the aggregate assets under management with Advisor. All securities held in
      accounts managed by TSW will be independently valued by the designated Custodian. TSW will
      not have the authority or responsibility to value portfolio securities.

      Fee Dispersion
      TSW’s investment advisory fee is negotiable at its discretion, depending upon objective and
      subjective factors including but not limited to: the amount of assets to be managed; portfolio
      composition; the scope and complexity of the engagement; the anticipated number of meetings
      and servicing needs; related accounts; future earning capacity; anticipated future additional
      assets; the professional(s) rendering the service(s); prior relationships with TSW and/or its
      representatives, and negotiations with the client. As a result of these factors, similarly situated
      clients could pay different fees, the services to be provided by TSW to any particular client could
      be available from other advisers at lower fees, and certain clients may have fees different than
      those specifically set forth above. TSW’s Chief Compliance Officer, Sarah Wells, remains
      available to address any questions that a client or prospective client may have regarding the
      above fee determination.

      Financial Planning and Consulting Services
      Financial planning engagements are typically offered on a fixed fee basis ranging from $1,900 to
      $5,900 and are negotiable. If a special consulting project is requested, fees are charged at a rate of
      up to $350 per hour. An estimate for total hours will be determined prior to establishing the advisory

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      relationship, and the final fee shall be set by TSW prior to completion of the requested planning
      services. Financial planning fees, including fees for review of previously‐provided financial plans,
      may be negotiable at the sole discretion of TSW. In addition, for clients who receive both
      investment management and financial planning services, special fee arrangements may be
      negotiated and agreed upon on a case by case basis, which may include applying financial
      planning and consulting fees as an offset against TSW’s investment management fee. Such special
      fee arrangements will be set forth in writing between TSW and the client.

      TSW’s fee is exclusive of, and in addition to brokerage commissions, transaction fees, and other
      related costs and expenses, which may be incurred by the Client. However, TSW shall not receive
      any portion of these commissions, fees, and costs. The hourly fees are determined after considering
      many factors, such as the level and scope of the services. All clients, but especially those with
      smaller accounts, should be advised they may receive similar services from other professionals
      for higher or lower overall costs.

      B. FEE BILLING
      Account Portfolio Management
      Client advisory fees due to TSW are deducted from their custodial account. Both TSW’s Investment
      Advisory Agreement and the custodial/ clearing agreement authorize the custodian to debit the
      account for the amount of TSW’s investment advisory fee and to directly remit that management
      fee to TSW in compliance with regulatory procedures. Investment Advisory Fees will be
      automatically deducted from the appropriate Client Account by the Custodian. When directly
      deducting fees, the Advisor shall send an invoice to the Custodian indicating the amount of the fees
      to be deducted from the Client Account quarterly, in advance. The amount due is calculated by billed
      value x flat rate x (calendar days in billing quarter/calendar days in billing year). Deposits and
      withdrawals (flows) are also taken in account calculatingly flow amount x flat rate x (flow day
      count/calendar days in billing year). Billed value is the last day of the previous quarter as reported
      by the custodian. In calculating the market value of a client’s assets, assets allocated to cash or a cash
      proxy, such as a money market account, will be included in the calculation of assets under
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Item 7 – Types of Clients

      TSW provides investment advisory services to individuals and high net worth individuals, which
      may be considered retirement assets, trusts, and estates. The relative percentage of each type of Client
      is available on TSW’s Form ADV Part 1. These percentages will change over time. TSW generally
      requires a $1 million minimum for investment management services. However, TSW, in its sole
      discretion, may modify its minimum, charge a lesser investment advisory fee and/or a charge a flat
      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, competition,
      negotiations with client, etc.). Please Note: As result of the above, similarly situated clients could
      pay different fees. In addition, similar advisory services may be available from other investment
      advisers for similar or lower fees. ANY QUESTIONS: TSW’s Chief Compliance Officer, Sarah
      Wells, remains available to address any questions that a client or prospective client may have
      regarding advisory fees.