Common use of Execution of Investment Account Transactions Clause in Contracts

Execution of Investment Account Transactions. Advisor will arrange for the execution of securities transactions for the Account through the Custodian selected by the Client and Advisor. Consistent with obtaining best execution, transactions for Client’s Account may be directed to brokers in return for research services furnished by them to Adviser. Such research generally will be used to service all of Adviser’s clients, but brokerage commissions paid by Client may be used to pay for research that is not used in managing Client’s Account. My investment adviser representative has advised me of the options available to me for brokerage services at Advisor. We are currently using Xxxxxxx Xxxxx IAD for custodial and clearing services. Clients may request the brokerage transactions be directed to a particular broker‐dealer/custodian. However, if an investment advisor representative cannot use that broker‐dealer/custodian they will not be able to accept the account. My representative has provided me with a document (See Schedule C) explaining the charges associated with trading and their services under this arrangement. The client also understands that they are responsible for all cost associated with the custodian, such as custodial fees, like Trading Fees and Annual Account Maintenance Fees as well as Custodian Service Fees. All fees charged by the custodian can be changed at the sole discretion of the custodian. Transactions for each client account will be effected independently of transactions for other clients of the Advisor; provided that the Advisor may (but is not obligated to) combine or “batch” transactions for the Client and other clients in the same securities in order to obtain a better price or achieve other efficiencies. There is no obligation to include any account in a bunched order unless the Advisor representative believes it is in the client’s best interest. In making this determination, the representative may consider a number of factors, including, but not limited to: (a) the client’s investment objectives and policies; (b) investment guidelines; (c) liquidity requirements; (d) legal or regulatory restrictions; (e) tax considerations; and (f) the nature and size of the bunched order. If Adviser cannot obtain execution of all the combined orders at prices or for transactions costs that Adviser believes are desirable, Adviser will allocate the securities. Our custodian does not offer reduced transactions cost due to batch transactions. Such an arrangement represents a potential conflict of interest because it may serve as an incentive for the representative to recommend investments in no‐transaction‐fee (NTF) mutual funds. WMS representatives have relationships with clearing brokers that allows them access to the NTF funds. NTF Mutual Funds may carry higher maintenance charges than similar mutual funds. Client authorizes and directs Advisor to instruct all firms executing orders for Client to forward confirmations of those transactions to Custodian and Advisor. Advisor may give a copy of this Agreement to any broker, dealer or other party to a transaction for the Account, or the Custodian as evidence of Advisor’s authority to act for Client.

Execution of Investment Account Transactions. Advisor Adviser will arrange for the execution of securities transactions for the Account through the Custodian selected by the Client and Advisor. Consistent with obtaining brokers or dealers that Adviser reasonably believes will provide best execution. In selecting a broker or dealer, Adviser may consider, among other things, the broker or dealer’s execution capabilities, reputation, and access to the markets for the securities being traded. Adviser generally will seek competitive commission rates but will not necessarily attempt to obtain the lowest possible commission for transactions for Client’s Account may be directed the Account. As a general matter, Adviser considers it appropriate to brokers use the execution services of Fidelity Investments Institutional Brokerage Group for the purchase and sale of securities for managed client accounts, unless there are restrictions such as customer designation or legal requirements to the contrary. Adviser reserves the right, however, to utilize other broker-dealers that provide prompt and reliable execution at favorable security prices and reasonable commission rates. The best net price, giving effect to brokerage commissions and other costs, is an important factor in return for research services furnished by them to Adviser. Such research generally will be used to service all of Adviser’s clientsthis decision, but brokerage commissions paid by Client may be used to pay for research that is not used in managing Client’s Accounta number of other judgmental facts are important as well. My investment adviser representative has advised me These include knowledge of negotiated commission rates currently available; the nature of the options available to me for brokerage services at Advisor. We are currently using Xxxxxxx Xxxxx IAD for custodial security being traded; the size and clearing services. Clients may request the brokerage transactions be directed to a particular broker‐dealer/custodian. However, if an investment advisor representative cannot use that broker‐dealer/custodian they will not be able to accept the account. My representative has provided me with a document (See Schedule C) explaining the charges associated with trading and their services under this arrangement. The client also understands that they are responsible for all cost associated with the custodian, such as custodial fees, like Trading Fees and Annual Account Maintenance Fees as well as Custodian Service Fees. All fees charged by the custodian can be changed at the sole discretion complexity of the custodiantransaction; the desired timing of the trade; the activity existing and expected in the market for the particular securities; confidentiality; and the execution; clearance and settlement capabilities and other relevant and appropriate services of the broker or dealer. Transactions for each client account generally will be effected independently of transactions independently, unless Adviser decides to purchase or sell the same securities for other several clients of at approximately the Advisor; provided that the Advisor same time. Adviser may (but is not obligated to) combine or “batch” such orders to obtain best execution, to negotiate more favorable commission rates or to allocate equitably among Adviser’s clients differences in prices and commissions or other transaction costs that might have been obtained had such orders been placed independently. Under this procedure, transactions will be averaged as to price and transaction costs and will be allocated among Adviser’s clients in proportion to the purchase and sale orders placed for each client account on any given day. Instead of allowing Adviser to select brokers or dealers for the Account, Client may direct Adviser in writing to use a particular broker or dealer to execute all transactions for Client’s Account. In that case, Client will negotiate terms and arrangements for the Account with that broker or dealer, and Adviser will not seek better execution services or prices from other broker or dealers or be able to “batch” Client transactions for execution through other brokers or dealers with orders for other accounts managed by Adviser. As a result, Client may pay higher commissions or other transaction costs or greater spreads, or receive less favorable net prices, on transactions for the Client and other clients in Account than would otherwise be the same securities in order to obtain a better price or achieve other efficiencies. There is no obligation to include any account in a bunched order unless the Advisor representative believes it is in the client’s best interest. In making this determination, the representative may consider a number of factors, including, but not limited to: (a) the client’s investment objectives and policies; (b) investment guidelines; (c) liquidity requirements; (d) legal or regulatory restrictions; (e) tax considerations; and (f) the nature and size of the bunched order. If Adviser cannot obtain execution of all the combined orders at prices or for transactions costs that Adviser believes are desirable, Adviser will allocate the securities. Our custodian does not offer reduced transactions cost due to batch transactions. Such an arrangement represents a potential conflict of interest because it may serve as an incentive for the representative to recommend investments in no‐transaction‐fee (NTF) mutual funds. WMS representatives have relationships with clearing brokers that allows them access to the NTF funds. NTF Mutual Funds may carry higher maintenance charges than similar mutual fundscase. Client authorizes and directs Advisor Adviser to instruct all firms brokers and dealers executing orders for Client to forward confirmations of those transactions to Custodian (as defined below) and AdvisorAdviser. Advisor If Client wishes, Adviser will instruct the brokers and dealers that execute orders for Client’s Account to send Client all transaction confirmation, and Client’s monthly statements from the Custodian and the statements Adviser provides, to keep informed of the status of Client’s Account. Adviser may give a copy of this Agreement to any broker, dealer or other party to a transaction for the Account, or the Custodian (as defined below) as evidence of AdvisorAdviser’s authority to act for Client.

Execution of Investment Account Transactions. Advisor will arrange for the execution of securities transactions for the Account through the Custodian selected by the Client and Advisor. Consistent with obtaining best execution, transactions for Client’s Account may be directed to brokers in return for research services furnished by them to Adviser. Such research generally will be used to service all of Adviser’s clients, but brokerage commissions paid by Client may be used to pay for research that is not used in managing Client’s Account. My investment adviser representative has advised me of the options available to me for brokerage services at Advisor. We are currently using The choices for such brokerage arrangements include Xxxxxxx Xxxxx IAD (as correspondent for FSIC), Xxxxxxx Xxxxx IAD, and Fidelity. Some representatives of Advisor are securities licensed through Financial Services International Corporation (fsic) a registered broker/dealer, member FINRA, SIPC. and thus not every custodial and clearing servicesrelationship is available to every investment advisor representative. Clients may request the brokerage transactions be directed to a particular broker‐dealerbroker- dealer/custodian. However, if an investment advisor representative cannot use that broker‐dealerbroker-dealer/custodian they will not be able to accept the account. My representative has provided me with a document (See Schedule C) explaining the charges associated with trading and to their services under this arrangementeach of these arrangements and has described the relative merits of each broker-dealer, including differences between other terms and services available through those broker- dealers, and other considerations. The client also understands that they are responsible for all cost associated with the custodian, such as custodial fees, like Trading Fees and Annual Account Maintenance Fees as well as Custodian Service Fees. All fees charged by the custodian can be changed at the sole discretion of the custodian. Select Brokerage Arrangement Choice (Check appropriate box) Client Initials: Client Initials: □ Xxxxxxx Xxxxx Correspondent Services for fsic □ Fidelity □Xxxxxxx Xxxxx IAD Transactions for each client account will be effected independently of transactions for other clients of the Advisor; provided that the Advisor may (but is not obligated to) combine or “batch” transactions for the Client and other clients in the same securities in order to obtain a better price or achieve other efficiencies. There is no obligation to include any account in a bunched order unless the Advisor representative believes it is in the client’s best interest. In making this determination, the representative may consider a number of factors, including, but not limited to: (a) the client’s investment objectives and policies; (b) investment guidelines; (c) liquidity requirements; (d) legal or regulatory restrictions; (e) tax considerations; and (f) the nature and size of the bunched order. If Adviser cannot obtain execution of all the combined orders at prices or for transactions costs that Adviser believes are desirable, Adviser will allocate the securities. Our custodian does not offer reduced transactions cost due to batch transactions. Such an arrangement represents a potential conflict of interest because it may serve as an incentive for the representative to recommend investments in no‐transaction‐fee (NTF) mutual funds. WMS representatives have relationships with clearing brokers that allows them access to the NTF funds. NTF Mutual Funds may carry higher maintenance charges than similar mutual funds. Client authorizes and directs Advisor to instruct all firms executing orders for Client to forward confirmations of those transactions to Custodian and Advisor. Advisor may give a copy of this Agreement to any broker, dealer or other party to a transaction for the Account, or the Custodian as evidence of Advisor’s authority to act for Client.and

Execution of Investment Account Transactions. Advisor Adviser will arrange for the execution of securities transactions for the Account through the Custodian selected by the Client and Advisor. Consistent with obtaining brokers or dealers that Adviser reasonably believes will provide best execution. In selecting a broker or dealer, Adviser may consider, among other things, the broker or dealer’s execution capabilities, reputation, and access to the markets for the securities being traded. Adviser generally will seek competitive commission rates but will not necessarily attempt to obtain the lowest possible commission for transactions for Client’s Account may be directed the Account. As a general matter, Adviser considers it appropriate to brokers use the execution services of Fidelity Investments Institutional Brokerage Group for the purchase and sale of securities for managed client accounts, unless there are restrictions such as customer designation or legal requirements to the contrary. Adviser reserves the right, however, to utilize other broker- dealers that provide prompt and reliable execution at favorable security prices and reasonable commission rates. The best net price, giving effect to brokerage commissions and other costs, is an important factor in return for research services furnished by them to Adviser. Such research generally will be used to service all of Adviser’s clientsthis decision, but brokerage commissions paid by Client may be used to pay for research that is not used in managing Client’s Accounta number of other judgmental facts are important as well. My investment adviser representative has advised me These include knowledge of negotiated commission rates currently available; the nature of the options available to me for brokerage services at Advisor. We are currently using Xxxxxxx Xxxxx IAD for custodial security being traded; the size and clearing services. Clients may request the brokerage transactions be directed to a particular broker‐dealer/custodian. However, if an investment advisor representative cannot use that broker‐dealer/custodian they will not be able to accept the account. My representative has provided me with a document (See Schedule C) explaining the charges associated with trading and their services under this arrangement. The client also understands that they are responsible for all cost associated with the custodian, such as custodial fees, like Trading Fees and Annual Account Maintenance Fees as well as Custodian Service Fees. All fees charged by the custodian can be changed at the sole discretion complexity of the custodiantransaction; the desired timing of the trade; the activity existing and expected in the market for the particular securities; confidentiality; and the execution; clearance and settlement capabilities and other relevant and appropriate services of the broker or dealer. Transactions for each client account generally will be effected independently of transactions independently, unless Adviser decides to purchase or sell the same securities for other several clients of at approximately the Advisor; provided that the Advisor same time. Adviser may (but is not obligated to) combine or “batch” such orders to obtain best execution, to negotiate more favorable commission rates or to allocate equitably among Adviser’s clients differences in prices and commissions or other transaction costs that might have been obtained had such orders been placed independently. Under this procedure, transactions will be averaged as to price and transaction costs and will be allocated among Adviser’s clients in proportion to the purchase and sale orders placed for each client account on any given day. Instead of allowing Adviser to select brokers or dealers for the Account, Client may direct Adviser in writing to use a particular broker or dealer to execute all transactions for Client’s Account. In that case, Client will negotiate terms and arrangements for the Account with that broker or dealer, and Adviser will not seek better execution services or prices from other broker or dealers or be able to “batch” Client transactions for execution through other brokers or dealers with orders for other accounts managed by Adviser. As a result, Client may pay higher commissions or other transaction costs or greater spreads, or receive less favorable net prices, on transactions for the Client and other clients in Account than would otherwise be the same securities in order to obtain a better price or achieve other efficiencies. There is no obligation to include any account in a bunched order unless the Advisor representative believes it is in the client’s best interest. In making this determination, the representative may consider a number of factors, including, but not limited to: (a) the client’s investment objectives and policies; (b) investment guidelines; (c) liquidity requirements; (d) legal or regulatory restrictions; (e) tax considerations; and (f) the nature and size of the bunched order. If Adviser cannot obtain execution of all the combined orders at prices or for transactions costs that Adviser believes are desirable, Adviser will allocate the securities. Our custodian does not offer reduced transactions cost due to batch transactions. Such an arrangement represents a potential conflict of interest because it may serve as an incentive for the representative to recommend investments in no‐transaction‐fee (NTF) mutual funds. WMS representatives have relationships with clearing brokers that allows them access to the NTF funds. NTF Mutual Funds may carry higher maintenance charges than similar mutual fundscase. Client authorizes and directs Advisor Adviser to instruct all firms brokers and dealers executing orders for Client to forward confirmations of those transactions to Custodian (as defined below) and AdvisorAdviser. Advisor If Client wishes, Adviser will instruct the brokers and dealers that execute orders for Client’s Account to send Client all transaction confirmation, and Client’s monthly statements from the Custodian and the statements Adviser provides, to keep informed of the status of Client’s Account. Adviser may give a copy of this Agreement to any broker, dealer or other party to a transaction for the Account, or the Custodian (as defined below) as evidence of AdvisorAdviser’s authority to act for Client.

Execution of Investment Account Transactions. Advisor will arrange for the execution of securities transactions for the Account through the Custodian selected by the Client and Advisor. Adviser will arrange for the execution of securities transactions for the Account through brokers or dealers that Adviser reasonably believes will provide best execution. In selecting a broker or dealer, Adviser may consider, among other things, the broker or dealer’s execution capabilities, reputation and access to the markets for the securities being traded. Adviser generally will seek competitive commission rates but will not necessarily attempt to obtain the lowest possible commission for transactions for the Account. Adviser may, in its discretion, cause the Account to pay brokers a commission greater than another qualified broker might charge to effect the same transaction where Adviser determines in good faith that the commission is reasonable in relation to the value of the brokerage and research services received. Consistent with obtaining best execution, transactions for Client’s Account may be directed to brokers in return for research services furnished by them to Adviser. Such research generally will be used to service all of Adviser’s clients, but brokerage commissions paid by Client may be used to pay for research that is not used in managing Client’s Account. My investment adviser representative has advised me of the options available to me for brokerage services at Advisor. We are currently using Xxxxxxx Xxxxx IAD for custodial and clearing services. Clients may request the brokerage transactions be directed to a particular broker‐dealer/custodian. However, if an investment advisor representative cannot use that broker‐dealer/custodian they will not be able to accept the account. My representative has provided me with a document (See Schedule C) explaining the charges associated with trading and to their services under this arrangement. The client also understands that they are responsible for all cost associated with the custodian, such as custodial fees, like Trading Fees and Annual Account Maintenance Fees as well as Custodian Service Fees. All fees charged by the custodian can be changed at the sole discretion of the custodian. Transactions for each client account will be effected independently of transactions for other clients of the Advisor; provided that the Advisor may (but is not obligated to) combine or “batch” transactions for the Client and other clients in the same securities in order to obtain a better price or achieve other efficiencies. There is no obligation to include any account in a bunched order unless the Advisor representative believes it is in the client’s best interest. In making this determination, the representative may consider a number of factors, including, but not limited to: (a) the client’s investment objectives and policies; (b) investment guidelines; (c) liquidity requirements; (d) legal or regulatory restrictions; (e) tax considerations; and (f) the nature and size of the bunched order. If Adviser cannot obtain execution of all the combined orders at prices or for transactions costs that Adviser believes are desirable, Adviser will allocate the securities. Our custodian does not offer reduced transactions cost due to batch transactions. Such an arrangement represents a potential conflict of interest because it may serve as an incentive for the representative to recommend investments in no‐transaction‐fee (NTF) mutual funds. WMS representatives have relationships with clearing brokers that allows them access to the NTF funds. NTF Mutual Funds may carry higher maintenance charges than similar mutual funds. Client authorizes and directs Advisor to instruct all firms executing orders for Client to forward confirmations of those transactions to Custodian and Advisor. Advisor may give a copy of this Agreement to any broker, dealer or other party to a transaction for the Account, or the Custodian as evidence of Advisor’s authority to act for Client.

Execution of Investment Account Transactions. Advisor will arrange for the execution of securities transactions for the Account through the Custodian selected by the Client and Advisor. Adviser will arrange for the execution of securities transactions for the Account through brokers or dealers that Adviser reasonably believes will provide best execution. In selecting a broker or dealer, Adviser may consider, among other things, the broker or dealer’s execution capabilities, reputation and access to the markets for the securities being traded. Adviser generally will seek competitive commission rates but will not necessarily attempt to obtain the lowest possible commission for transactions for the Account. Adviser may, in its discretion, cause the Account to pay brokers a commission greater than another qualified broker might charge to effect the same transaction where Adviser determines in good faith that the commission is reasonable in relation to the value of the brokerage and research services received. Consistent with obtaining best execution, transactions for Client’s Account may be directed to brokers in return for research services furnished by them to Adviser. Such research generally will be used to service all of Adviser’s clients, but brokerage commissions paid by Client may be used to pay for research that is not used in managing Client’s Account. My investment adviser representative has advised me of the options available to me for brokerage services at Advisor. We are currently using Xxxxxxx Xxxxx IAD for custodial and clearing services. Clients may request the brokerage transactions be directed to a particular broker‐dealer/custodian. However, if an investment advisor representative cannot use that broker‐dealer/custodian they will not be able to accept the account. My representative has provided me with a document (See Schedule C) explaining the charges associated with trading and to their services under this arrangement. The client also understands that they are responsible for all cost associated with the custodian, such as custodial fees, like Trading Fees and Annual Account Maintenance Fees as well as Custodian Service Fees. All fees charged by the custodian can be changed at the sole discretion of the custodian. Transactions for each client account will be effected independently of transactions for other clients of the Advisor; provided that the Advisor may (but is not obligated to) combine or “batch” transactions for the Client and other clients in the same securities in order to obtain a better price or achieve other efficiencies. There is no obligation to include any account in a bunched batched order unless the Advisor representative believes it is in the client’s best interest. In making this determination, the representative may consider a number of factors, including, but not limited to: (a) the client’s investment objectives and policies; (b) investment guidelines; (c) liquidity requirements; (d) legal or regulatory restrictions; (e) tax considerations; and (f) the nature and size of the bunched batched order. If Adviser cannot obtain execution of all the combined orders at prices or for transactions costs that Adviser believes are desirable, Adviser will allocate the securities. Our custodian does not offer reduced transactions cost due to batch transactions. Such an arrangement represents a potential conflict of interest because it may serve as an incentive for the representative to recommend investments in no‐transaction‐fee (NTF) mutual funds. WMS representatives have relationships with clearing brokers that allows them access to the NTF funds. NTF Mutual Funds may carry higher maintenance charges than similar mutual funds. Client authorizes and directs Advisor to instruct all firms executing orders for Client to forward confirmations of those transactions to Custodian and Advisor. Advisor may give a copy of this Agreement to any broker, dealer or other party to a transaction for the Account, or the Custodian as evidence of Advisor’s authority to act for Client.

Execution of Investment Account Transactions. Advisor will arrange for the execution of securities transactions for the Account through the Custodian selected by the Client and Advisor. Adviser will arrange for the execution of securities transactions for the Account through brokers or dealers that Adviser reasonably believes will provide best execution. In selecting a broker or dealer, Adviser may consider, among other things, the broker or dealer’s execution capabilities, reputation and access to the markets for the securities being traded. Adviser generally will seek competitive commission rates but will not necessarily attempt to obtain the lowest possible commission for transactions for the Account. Adviser may, in its discretion, cause the Account to pay brokers a commission greater than another qualified broker might charge to effect the same transaction where Adviser determines in good faith that the commission is reasonable in relation to the value of the brokerage and research services received. Consistent with obtaining best execution, transactions for Client’s Account may be directed to brokers in return for research services furnished by them to Adviser. Such research generally will be used to service all of Adviser’s clients, but brokerage commissions paid by Client may be used to pay for research that is not used in managing Client’s Account. My investment adviser representative has advised me of the options available to me for brokerage services at Advisor. We are currently using The choices for such brokerage arrangements include Xxxxxxx Xxxxx IAD (as correspondent for FSIC), Xxxxxxx Xxxxx IAD, and Fidelity. Some representatives of Advisor are securities licensed through Financial Services International Corporation (fsic) a registered broker/dealer, member FINRA, SIPC. and thus not every custodial and clearing servicesrelationship is available to every investment advisor representative. Clients may request the brokerage transactions be directed to a particular broker‐dealerbroker-dealer/custodian. However, if an investment advisor representative cannot use that broker‐dealerbroker-dealer/custodian they will not be able to accept the account. My representative has provided me with a document (See Schedule C) explaining the charges associated with trading and to their services under this arrangementeach of these arrangements and has described the relative merits of each broker-dealer, including differences between other terms and services available through those broker-dealers, and other considerations. The client also understands that they are responsible for all cost associated with the custodian, such as custodial fees, like Trading Fees and Annual Account Maintenance Fees as well as Custodian Service Fees. All fees charged by the custodian can be changed at the sole discretion of the custodian. Select Brokerage Arrangement Choice (Check appropriate box) Client Initials: Client Initials: □ Xxxxxxx Xxxxx Correspondent Services for fsic □ Fidelity □Xxxxxxx Xxxxx IAD Transactions for each client account will be effected independently of transactions for other clients of the Advisor; provided that the Advisor may (but is not obligated to) combine or “batch” transactions for the Client and other clients in the same securities in order to obtain a better price or achieve other efficiencies. There is no obligation to include any account in a bunched order unless the Advisor representative believes it is in the client’s best interest. In making this determination, the representative may consider a number of factors, including, but not limited to: (a) the client’s investment objectives and policies; (b) investment guidelines; (c) liquidity requirements; (d) legal or regulatory restrictions; (e) tax considerations; and (f) the nature and size of the bunched order. If Adviser cannot obtain execution of all the combined orders at prices or for transactions costs that Adviser believes are desirable, Adviser will allocate the securities. Our custodian does not offer reduced transactions cost due to batch transactions. Such an arrangement represents a potential conflict of interest because it may serve as an incentive for the representative to recommend investments in no‐transaction‐fee (NTF) mutual funds. WMS representatives have relationships with clearing brokers that allows them access to the NTF funds. NTF Mutual Funds may carry higher maintenance charges than similar mutual funds. Client authorizes and directs Advisor to instruct all firms executing orders for Client to forward confirmations of those transactions to Custodian and Advisor. Advisor may give a copy of this Agreement to any broker, dealer or other party to a transaction for the Account, or the Custodian as evidence of Advisor’s authority to act for Client.;

Execution of Investment Account Transactions. Advisor will arrange for the execution of securities transactions for the Account through the Custodian selected by the Client and Advisor. Adviser will arrange for the execution of securities transactions for the Account through brokers or dealers that Adviser reasonably believes will provide best execution. In selecting a broker or dealer, Adviser may consider, among other things, the broker or dealer’s execution capabilities, reputation and access to the markets for the securities being traded. Adviser generally will seek competitive commission rates but will not necessarily attempt to obtain the lowest possible commission for transactions for the Account. Adviser may, in its discretion, cause the Account to pay brokers a commission greater than another qualified broker might charge to effect the same transaction where Adviser determines in good faith that the commission is reasonable in relation to the value of the brokerage and research services received. Consistent with obtaining best execution, transactions for Client’s Account may be directed to brokers in return for research services furnished by them to Adviser. Such research generally will be used to service all of Adviser’s clients, but brokerage commissions paid by Client may be used to pay for research that is not used in managing Client’s Account. My investment adviser representative has advised me of the options available to me for brokerage services at Advisor. We are currently using The choices for such brokerage arrangements include Xxxxxxx Xxxxx IAD (as correspondent for FSIC), Xxxxxxx Xxxxx IAD, and Fidelity. Some representatives of Advisor are securities licensed through Financial Services International Corporation (fsic) a registered broker/dealer, member FINRA, SIPC. and thus not every custodial and clearing servicesrelationship is available to every investment advisor representative. Clients may request the brokerage transactions be directed to a particular broker‐dealerbroker- dealer/custodian. However, if an investment advisor representative cannot use that broker‐dealerbroker-dealer/custodian they will not be able to accept the account. My representative has provided me with a document (See Schedule C) explaining the charges associated with trading and to their services under this arrangementeach of these arrangements and has described the relative merits of each broker-dealer, including differences between other terms and services available through those broker- dealers, and other considerations. The client also understands that they are responsible for all cost associated with the custodian, such as custodial fees, like Trading Fees and Annual Account Maintenance Fees as well as Custodian Service Fees. All fees charged by the custodian can be changed at the sole discretion of the custodian. Select Brokerage Arrangement Choice (Check appropriate box) Client Initials: Client Initials: □ Xxxxxxx Xxxxx Correspondent Services for fsic □ Fidelity □Xxxxxxx Xxxxx IAD Transactions for each client account will be effected independently of transactions for other clients of the Advisor; provided that the Advisor may (but is not obligated to) combine or “batch” transactions for the Client and other clients in the same securities in order to obtain a better price or achieve other efficiencies. There is no obligation to include any account in a bunched order unless the Advisor representative believes it is in the client’s best interest. In making this determination, the representative may consider a number of factors, including, but not limited to: (a) the client’s investment objectives and policies; (b) investment guidelines; (c) liquidity requirements; (d) legal or regulatory restrictions; (e) tax considerations; and (f) the nature and size of the bunched order. If Adviser cannot obtain execution of all the combined orders at prices or for transactions costs that Adviser believes are desirable, Adviser will allocate the securities. Our custodian does not offer reduced transactions cost due to batch transactions. Such an arrangement represents a potential conflict of interest because it may serve as an incentive for the representative to recommend investments in no‐transaction‐fee (NTF) mutual funds. WMS representatives have relationships with clearing brokers that allows them access to the NTF funds. NTF Mutual Funds may carry higher maintenance charges than similar mutual funds. Client authorizes and directs Advisor to instruct all firms executing orders for Client to forward confirmations of those transactions to Custodian and Advisor. Advisor may give a copy of this Agreement to any broker, dealer or other party to a transaction for the Account, or the Custodian as evidence of Advisor’s authority to act for Client.and