Wells Financial Management LLC

Item 5 Fees and Compensation
Investment Portfolio Management Fees
Asset management fees are based on the value of your managed account(s). Accounts within the
same household will be combined to determine the fee rate. We have discretion to link "related"
accounts (charitable trusts, etc.) or other family members together for the purpose of lowering fees.

The annual fee schedule, based on the tiered percentage of assets under management below, is as
follows:

Portfolio Assets                    Annual Fee
First $500,000                        1.25%
Next $500,000                         1.00%
Next $4,000,000                       0.75%
Above $5,000,000                      0.50%
Over $10,000,000                    Negotiable

The minimum portfolio value is generally set at $500,000. We may, at our discretion, make exceptions
to the foregoing or negotiate special fee arrangements where we deem it appropriate under the
circumstances.

Portfolio management fees are generally payable quarterly, in advance based on the value of the
portfolio at the beginning of the quarter. If management begins after the start of a quarter, fees will be
prorated accordingly.

We will deduct our fee directly from your account through the qualified custodian holding your funds
and securities. We will deduct our advisory fee only when the following requirements are met:

    • You provide our firm with written authorization permitting the fees to be paid directly from your
      account held by the qualified custodian;
    • We send you an invoice showing the amount of the fee, the value of the assets on which the
      fee is based, the time period covered by the fee, and the specific manner in which the fee was
      calculated; and
    • The qualified custodian agrees to send you a statement, at least quarterly, indicating all
      amounts disbursed from your account including the amount of the advisory fee paid directly to
      our firm.

We encourage you to reconcile our invoices with the statement(s) you receive from the qualified
custodian. If you find any inconsistent information between our invoice and the statement(s) you
receive from the qualified custodian call our main office number located on the cover page of this
brochure.

Either Wells Financial or you may terminate the Investment Management Agreement by providing 30
days written notice. In the event of termination, any paid but unearned fees will be promptly refunded
to the client based on the number of days that the account was managed, and any fees due to Wells
Financial from you will be invoiced or deducted from the client's account prior to termination.

Financial Planning Fees
We charge a fixed fee for financial planning services, which generally ranges between $500 - $5,000
and is based on the scope of work and the degree of complexity associated with the client's situation.
The fee is negotiable. We will generally waive the financial planning fees for clients with at least
$500,000 who choose to use our investment portfolio management services for a minimum of one
year.

We do not require you to pay fees six or more months in advance. Should the engagement last longer
than six months between acceptance of financial planning agreement and delivery of the financial plan,
any prepaid unearned fees will be promptly returned to you less a pro rata charge for bona fide
financial planning services rendered to date.

You may terminate the financial planning agreement upon 10 days written notice to our firm. If you
have pre-paid financial planning fees that we have not yet earned, you will receive a prorated refund of
those fees. If financial planning fees are payable in arrears, you will be responsible for a prorated fee
based on services performed prior to termination of the financial planning agreement.

Additional Fees and Expenses
As part of our investment advisory services to you, we may invest, or recommend that you invest, in
mutual funds and exchange traded funds. The fees that you pay to our firm for investment advisory
services are separate and distinct from the fees and expenses charged by mutual funds or exchange
traded funds (described in each fund's prospectus) to their shareholders. These fees will generally
include a management fee and other fund expenses. You will also incur transaction charges and/or
brokerage fees when purchasing or selling securities. These charges and fees are typically imposed by
the broker-dealer or custodian through whom your account transactions are executed. We do not
share in any portion of the brokerage fees/transaction charges imposed by the broker-dealer or
custodian. To fully understand the total cost you will incur, you should review all the fees charged by
mutual funds, exchange traded funds, our firm, and others. For information on our brokerage practices,
refer to the Brokerage Practices section of this brochure.

Item 7 Types of Clients
Wells Financial serves individuals, high net worth individuals, corporations, trusts, estates and
charitable organizations. With some exceptions, the minimum portfolio value eligible for conventional
investment advisory services is $500,000. Under certain circumstances and in its sole discretion,
Wells Financial may negotiate this requirement.