Centaurus Financial

Not included above

• • In addition to the wrap fee, depending on the program selected, additional charges such as custodial fees, transfer fees, internal fund fees, TPMM investment management fees and other administrative and operational-related fees may be assessed against the account. These charges are separate and apart from the wrap fee assessed against the account. Information regarding additional fees and expenses is available in the investment advisory agreement for the program selected along with the custodial fee schedule, prospectus or other fee-disclosure document for the particular security or party assessing the charge. Certain investments held within an advisory account such as mutual funds, UITs or ETFs may have internal expenses in addition to other fees for the account. Many mutual funds that CFI makes available to clients for investment are categorized into different share classes. Each share class represents an interest in the same portfolio of securities. Some of these share classes pay a 12b-1 fee to the custodian in which securities are held. A 12b-1 fee is derived from the fund’s assets and is paid for shareholder services, distribution and marketing expenses. Share classes that pay a 12b-1 fee generally have a higher cost than those classes that do not. As a result, a lower return may be realized from the investment if the IAR recommends a higher-cost share class when a lower-cost share class is otherwise available. CFI offers products from Pershing’s Fundvest® mutual fund platform, which features no-transaction-fee (“NTF”) mutual fund (e.g., no trading commissions, no front-end sales loads, no deferred sales charges). Once certain asset thresholds of Fundvest® mutual funds are met, CFI has the ability to receive revenue-sharing fees from Pershing related to certain Fundvest® investments. CFI offers a cash “sweep” program to clients who hold accounts at Pershing, our clearing firm. A cash sweep program enables clients to choose to automatically move uninvested free credit balances in certain brokerage and advisory accounts to a money market mutual fund or interest-bearing FDIC-insured bank deposit program. CFI receives third-party payments based on the amount of deposits held in the Cash Sweep Program through Pershing. These payments are generally referred to as “distribution assistance” and are paid based on CFI’s role in administering and complying with the terms of the program. For the money market fund option, CFI may be entitled to receive up to 55 basis points, or 0.55%, of the assets held in the money market fund by CFI clients. For the FDIC-insured bank deposit program, CFI is entitled to be paid a portion of the gross interest rate payable to clients by the depository institutions based on the underlying individual account balance held in the bank deposit program. Pursuant to CFI’s Clearing Agreement with Pershing, CFI receives payments deemed “transition credits” of up to $75 per retail and retirement account transferred onto the Pershing clearing platform after previously being held at other clearing firms or custodians. In an effort to provide a broad range of account options, certain advisory programs that are not “wrap fee” programs include a charge for individual transactions or “trades” in the account in addition to the advisory fee charged to the account. CFI receives compensation for each trade. Depending on the selection chosen in the advisory agreement for these programs, the transaction charges are billed to either the IAR or the client. CFI receives compensation through strategic marketing arrangements with several third-party money managers. These payments are designed to compensate CFI for the cost of providing services, such as marketing and events. Due to the additional resources required for the operational efforts, servicing, reporting, account maintenance and ongoing research required to select and maintain certain non-traded alternative investments, such as perpetual life REITs, CFI generally only makes available share classes that pay a service fee (generally up to 25 basis points, 1/4 of 1%) on total assets placed in the non-traded alternative investment by CFI client accounts (“Dealer Servicing Fee”). Tax Overlay Management (“Tax Overlay”) services are also available for an additional fee.