Wrap Fee Program Services Beacon Pointe Advisors, LLC (“Beacon Pointe,” “we,” “our,” or “us”) manages a wrap fee program (the “Wrap Fee Program”) for certain legacy clients of firms acquired by Beacon Pointe. The Wrap Fee Program is not offered to new or prospective clients of Beacon Pointe. Accounts participating in the Wrap Fee Program are managed in the same way as our non-wrap accounts described below. Under the Wrap Fee Program, however, a client may transact in investment products without incurring separate brokerage commissions or transaction fees in the client’s custodial account managed by Beacon Pointe, as described further below. Wealth Advisory Services A client can engage Beacon Pointe to implement investment recommendations on a fee basis with Beacon Pointe actively managing client assets under our Wealth Advisory Agreement (“Advisory Agreement”). Under the Advisory Agreement, Beacon Pointe will: 1. Manage a portion or all of the assets designated by the client in accordance with the terms and conditions of the Advisory Agreement. Additionally, we may recommend clients authorize the discretionary management of a portion of their assets by certain unaffiliated third-party investment managers (“Independent Managers”) where appropriate based on the client’s stated investment objectives. 2. Provide ongoing monitoring and reviewing of each Independent Manager 3. In some cases, manage a portion of the client’s assets by primarily allocating the assets among various classes of shares of no-load mutual funds, Exchange Traded Funds (ETFs), real estate investment trusts (REITs), or private funds. From time-to-time Beacon Pointe invests our clients’ assets in a mutual fund advised by a related investment adviser. See Item 9 – Additional Information for our policies surrounding this practice. 4. Provide financial planning services for certain clients subject to certain conditions as noted below. We offer these services on a discretionary basis, including the hiring and/or firing of Independent Managers, and in accordance with the client’s investment objectives and any reasonable restrictions the client wishes to place on the account. Beacon Pointe reserves the right to not accept and/or terminate management of a client’s account if we feel that the client-imposed restrictions would limit or prevent us from meeting or maintaining the client’s investment strategy. Clients should notify us promptly in writing if there are any changes in their financial situation or investment objectives, or if they wish to impose or change any restriction(s) on their account. Beacon Pointe primarily invests client accounts by utilizing Independent Managers to manage the various asset classes determined in the client’s asset allocation. Generally, client portfolios are managed by the Independent Managers through separate accounts or through mutual funds, depending on the vehicles offered by the Independent Managers and account size or other considerations specific to each client. Beacon Pointe may also directly manage the client’s account utilizing mutual funds, ETFs, REITs, and private funds. In addition, client portfolios at times utilize other strategies or contain securities not included on the recommended list in the course of an acquisition or at the direction of the client; typically, these assets will be transitioned over time to the Independent Managers or securities that are recommended by Beacon Pointe. Clients may place reasonable restrictions on the management of their account with the Independent Managers. We describe our process for selecting managers and the material investment risks for our strategies under Item 6 – Portfolio Manager Selection and Evaluation. Beacon Pointe may offer investment advice on any investment held by the client at the start of the advisory relationship. Beacon Pointe occasionally offers advice regarding additional types of investments if they are appropriate to address the individual needs, goals, and objectives of the client or in response to client inquiry. Private clients will be provided with comprehensive financial planning advice, upon client request and subject to the minimum account size or minimum annual advisory fee in accordance with the client’s agreement. In order to provide this comprehensive financial planning advice, we gather information regarding the client’s current and historical status in the areas of net worth, income, expenses, taxes, investments, retirement plans and insurance, as well as future goals and objectives. We then develop a written personalized plan, which includes specific recommendations in applicable areas. Areas of focus may include retirement planning, education funding, survivor needs analysis, risk management or wealth transfers planning. These financial planning services do not include preparation of any kind of income tax, gift, or estate tax returns nor preparation of any legal documents, including wills or trusts. Fees for the Wrap Fee Program Beacon Pointe charges advisory fees to clients who are in the Wrap Fee Program. The advisory fees are negotiable and are charged based on a percentage of the market value of the portfolio under management, per a tiered fee schedule set forth in the agreement between Beacon Pointe and the client. The Wrap Fee Program fee ranges from 0.50% to a maximum of 2.0% of assets under management. Client participation in the Wrap Fee Program will generally cost less than the same services would for an account participating in an account outside of the Wrap Fee Program, although the amount of savings will depend on the volume of trading in the client’s account, advisory fees for unbundled services, and the custodian transaction and execution fees charged for a non-wrap fee program account. Under the terms of the Wrap Fee Program, Beacon Pointe will pay trading and execution costs imposed by the custodian for transactions in the client’s account directly managed by Beacon Pointe. This arrangement may present a potential conflict of interest for us, as we have a financial disincentive to engage in active trading. However, transaction fees are not a material consideration for Beacon Pointe in deciding whether to engage in any trading or the level

of trading activity through the custodians, Charles Schwab & Co., Inc. (“Schwab”), Fidelity, or Pershing Advisor Solutions, LLC (“Pershing”). Schwab has eliminated commissions for online trades of equities, ETFs and options (subject to a $0.65 contract fee). This means that, in most cases, when we buy and sell these types of securities, we will not have to pay any commissions to the custodian of your account. Beacon Pointe encourages prospective clients to review your custodian’s pricing to compare the total costs of entering into a wrap fee arrangement versus a non-wrap fee arrangement. If you choose to enter into a wrap fee arrangement, your total cost to invest could exceed the cost of paying for brokerage and advisory services separately. To see what you would pay for transactions in a non-wrap account, please refer to Schwab’s most recent pricing schedules, available at schwab.com/aspricingguide. Billing Method Beacon Pointe’s advisory fees are generally payable quarterly in advance at the beginning of each calendar quarter. We charge one fourth of the annual fee each quarter based on the market value of the client’s portfolio as of the last day of the prior calendar quarter. If a client contributes capital to the account, including the initial capital, on a date other than the last day of a calendar quarter, we will charge the account a prorated portion of the fees for that calendar quarter for that contribution based on the number of days remaining in that calendar quarter. Similarly, if a client withdraws a portion of the assets from the account on any date other than the last day of a calendar quarter, we will prorate the fees previously paid for that calendar quarter based on the number of days elapsed in that quarter before the withdrawal and we will refund the unearned portion to the client’s account. Fees for the initial quarter under management are pro-rated and charged in arrears with the next quarter’s advance payment. Beacon Pointe aggregates related client accounts for purposes of calculating the advisory fees applicable to each client. Beacon Pointe also reserves the right to reduce or waive our fees for employee or family accounts and certain client accounts. With client authorization, Beacon Pointe will automatically withdraw Beacon Pointe’s advisory fee from the client’s account held by an independent custodian. Typically, the custodian withdraws advisory fees from the client’s account during the first month of each quarter based on Beacon Pointe’s instruction. All clients will receive brokerage statements from the custodian no less frequently than quarterly. The custodian statement will show the deduction of the advisory fee. We will make rare exceptions to this policy and bill clients directly. In these rare cases, Beacon Pointe will send an invoice to the client who chooses not to have advisory fees withdrawn directly from their custodian account. The invoice is payable upon receipt and will include the fee calculation and amount due. Other Fees and Expenses Beacon Pointe’s fees do not include the fees charged by Independent Managers or their custodians. Clients should review the Independent Manager’s ADV 2 Brochure regarding fee schedules, other fees charged by Independent Managers, and applicable billing methods. Clients in the Wrap Fee Program pay the management fees of Independent Managers as well as the trading and execution costs imposed by the custodians for transactions in the client’s accounts managed by Independent Managers. In some cases, the fees charged by the Independent Manager may be greater than those charged by Beacon Pointe. Other fees not included in the advisory fee for our Wrap Fee Program are charges imposed directly by a mutual fund, index fund, or exchange traded fund, which shall be disclosed in the fund’s prospectus (i.e., fund management fees and other fund expenses), fees for trades executed away from the custodian, mark-ups and mark-downs, spreads paid to market makers, wire transfer fees, and other fees and taxes on brokerage accounts and securities transactions. Any mutual fund shares held in a client’s account may be subject to deferred sales charges, 12b-1 fees, and other fund-related expenses. The fund’s prospectus fully describes the fees and expenses. All fees paid to Beacon Pointe for advisory services are separate and distinct from the fees and expenses charged by mutual funds. Mutual funds pay advisory fees to their managers, which are indirectly charged to all holders of the mutual fund shares. Consequently, clients with mutual funds in their portfolios are effectively paying both Beacon Pointe and the mutual fund manager for the management of their assets. Termination Either party may terminate the wrap fee program agreement at any time. Clients are requested to provide thirty (30) days written notice of termination to the other party, however the 30-day notice may be waived at Beacon Pointe’s sole discretion. Beacon Pointe will refund any prepaid, unearned advisory fees based on the effective date of termination. Upon termination of the agreement, we will send the client a prorated refund of unearned advisory fees using the following formula: (Fees Paid) x (Days Remaining in Quarter) / (Total Number of Days in Quarter). Other Compensation Beacon Pointe does not accept compensation for the sale of securities or other investment products, including asset-based sales charges or service fees from the sale of mutual funds. Beacon Pointe may recommend that clients invest in mutual funds managed by a related adviser. While Beacon Pointe does not directly receive additional compensation resulting from the use of products managed by related firms, our related adviser receives management fees from the mutual fund. Additionally, Beacon Pointe receives fees through its affiliated general partner of certain private funds sponsored by Beacon Pointe. Even though such private fund fees are waived for clients of Beacon Pointe, Beacon Pointe has an interest in recommending the private funds for reasons of larger size, better deals, costs savings, etc. We describe our policies in recommending related products, as well as our relationships with related advisers, in Item 9 – Additional Information.