Robert Stanton Jersey

Mr. Jersey is the founder, President & CEO of Gar Wood Securities LLC (GWS), a registered broker-dealer. We are not affiliated with GWS. Our business is limited to providing model portfolios and similar advisory services. We do not direct trades to any broker. We generally do not refer clients to other brokers or advisers, including without limitation GWS, however if requested by a client to provide recommendations or referrals to brokers, we may do so, including to GWS. We do not receive any direct payment, commission, or referral payment from any broker, including GWS, for such referrals. Because some of our principals are also principals of GWS, they may receive indirect compensation from GWS as the result of a client using GWS services. However, all decisions as to which brokerage to use ultimately belong to the client. Clients are not required to use GWS for any services to receive our services or be our client. We do lease some office space from GWS. This lease is not conditioned on any other business or referral relationship. The rent is fixed and due monthly. We have determined to limit conflicts with respect to this relationship by refraining from referring clients to GWS and to engage in a fixed lease not subject to changes based upon any other business relationship. Any compensation or income made by Mr. Jersey with respect to his work with GWAM is unrelated and not contingent upon, any relationship or work for GWS. As GWAM has not made any money, until such time as it begins to produce revenue, GWS will be the primary provider of income and compensation to Mr. Jersey.