Arthur Sheldon Karafin

You will typically pay us an asset-based fee at the end of each quarter. Asset-based fees are calculated as a percentage of the assets (including cash) in your advisory account. This fee can vary based on the type of investments selected. For example, an equity-based portfolio will have different advisory fees when compared to a fixed income portfolio. The more assets you have in an advisory account, including cash, the more you will pay to us in fees. We therefore have an incentive to recommend that you increase the assets in your account. Unless we agree otherwise, our advisory fees will automatically be deducted from your account and will therefore reduce the value of your account. You will also pay brokerage and trade execution costs when investments are bought and sold in your account, custody fees, and miscellaneous fees, such as wire transfer fees, as described in our Form ADV, Part 2A.

If you participate in a sponsor’s wrap fee program, please see the sponsor’s Form CRS for more information about the particular program’s fee structure and related conflicts. You should also review program sponsor’s Form ADV Part 2A and other disclosures for more information about the fees and costs of the particular program you are considering. Depending on the fee structure, we will either receive a portion of the program fee from the sponsor for our services to you, or you will pay us a separate fee that is in addition to the sponsor’s wrap fee.

Depending on your agreement with us, we will either provide financial planning services as part of your advisory services for no additional fee, or we will charge you a separate fee based on the scope and duration of the financial planning services.

Certain investments, for example mutual funds and private funds, impose additional fees that will reduce the value of your investment over time, or surrender charges if you sell the investment before you hold it for a specified time period. These fees are disclosed in the investment’s prospectus or other offering document that will be provided to you at or around the time of your investment.

You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount ofmoney you make on your investments over time. Please make sure you understand what fees and costs you are paying.

For additional information, please see: www.adviserinfo.sec.gov/firm/summary/133370

When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the investment advice we provide you. Here are some examples to help you understand what this means.

Examples of Ways We Make Money and Conflicts of Interest

Proprietary Products: We and our affiliates earn greater fees, compensation, and other benefits if you invest in a product that we or our affiliates advise, manage, sponsor, underwrite, or otherwise provide services to, such as mutual funds, other collective investment vehicles, and certain securities offerings. We have an incentive to offer or recommend these products because of the compensation we and our affiliates receive.

Our financial professionals earn a base salary and can receive incentive compensation such as a discretionary bonus based on company performance. They can also receive awards calculated as a percentage of the net revenue they generate for us.