Joseph S. Faber

Principal Fees and Costs: In a brokerage account, you will incur transaction charges when you buy or sell securities, including (a) commissions, (b) markups and markdowns (similar to commissions), (c) upfront or ongoing fees that you pay to a mutual fund or other product issuers, a portion of which is paid to us in connection with your transaction; and (d) handling and processing fees on each securities transaction.

Transaction-based fees are based on a host of factors, including, but not limited to (i) the underlying product selection; (ii) our brokerage service model (i.e., self-directed or financial advisor full-service) and account type; (iii) the size of your transaction and/or the overall value of your account; (iv) frequency of your trade activity; and/or (v) available discounts and/or fee waivers.

Transaction charges differ from one product to another, which creates an incentive for us to recommend products with higher transaction charges, which increases our compensation. You will incur greater total transaction charges when there are more trades in your account, which creates an incentive for us to encourage you to trade more often because it similarly increases our compensation.

Other Fees and Costs: Depending upon your account and relationship, you may also incur periodic account maintenance or IRA custodial fees, as well as processing, service, and account fees upon certain events or occurrences. You will incur interest charges if you borrow on margin using a securities-based loan in any of your accounts. Certain investments, such as mutual funds, have embedded fees that are generally paid by you to the companies that sponsor, manage, and/or promote the investment.

You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying. For additional information concerning our fees, please visit the Regulatory Information and Disclosures page at www.stewardparntners.com and refer to our Fee Schedules and Regulation Best Interest Disclosure.

When we provide you with a recommendation, 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 about these conflicts because they can affect the recommendations we provide you. Here are some examples to help you understand what this means.

Third-party payments: We receive payments from third parties when you invest in certain products and services (e.g., mutual funds, insurance products). The amount of this compensation varies by product. These payments represent additional compensation to us or provide compensation for ongoing support activities we perform on behalf of third parties, such as product servicing, tax reporting, statement and trade confirmation mailings, or recordkeeping. This results in a financial incentive to recommend products that provide additional compensation to us over those that pay lesser amounts or none at all. Such payments may also affect products we make available.

Revenue sharing: The companies that sponsor, manage, and/or promote certain investments we offer earn revenue by charging you a fee, such as a management fee in a mutual fund. A portion of these fees may be shared with us. We use the payments in part to support activities related to servicing client accounts, to provide educational programs and technology applications to financial professionals, and to provide ongoing product support for certain investments. We have an incentive to promote the product sponsors that share the most revenues over those that share less revenues or none at all. We also have a revenue-sharing agreement with our affiliate, Steward Partners Global Advisory, LLC.

This summary does not identify all of our conflicts of interest, or all material facts about the conflicts of interest listed.

For additional information regarding our conflicts of interest, please refer to our Regulation Best Interest Disclosure and other Regulatory Information and Disclosures at www.stewardpartners.com.

• Our financial professionals are directly and indirectly compensated based on a variety of factors including amount of client assets they service, the product sold, product sales commissions, equity ownership or revenue the firm earns from the financial professional’s advisory services or recommendations. Financial professionals may be incentivized to recommend you transition your brokerage services account to an advisory account that generates ongoing revenue.

• Most financial professionals are compensated as a percentage of (a) commissions, markups, and markdowns earned in brokerage accounts, which vary by product, and (b) ongoing fees from mutual funds and certain other product issuers. The percentage of revenue that your financial professional receives will generally increase as revenue earned from their client accounts increases. Therefore, financial professionals are incentivized to increase revenues on clients’ accounts.

• Noncash compensation is provided to financial professionals in the form of credits toward training, due diligence meetings, and funding of business expense accounts.

• When financial professionals affiliate with us, they may receive compensation in connection with transitioning from their prior firm. This includes an upfront payment and additional potential compensation based on the revenues generated from client accounts and growth of the assets they manage. This creates incentives for financial professionals to encourage you to move your assets to SPIS and to produce greater revenues by charging higher fees and engaging in commission-generating securities transactions.

The revenue in each of the above points may include revenue earned from a financial professional’s accounts with SPIS and with SPIA or unaffiliated third party subadvisor