Description of Services and Fees Reynolds Consulting Services, LLC is a registered investment adviser based in Hicksville, New York. We are organized as a limited liability company under the laws of the State of New York. We have been providing investment advisory services since 2006. Thomas Scott Reynolds is our principal owner. Currently, we offer the following investment advisory services, which are personalized to each individual client: The following paragraphs describe our services and fees. Please refer to the description of each investment advisory service listed below for information on how we tailor our advisory services to your individual needs. As used in this brochure, the words "we", "our" and "us" refer to Reynolds Consulting Services, LLC and the words "you", "your" and "client" refer to you as either a client or prospective client of our firm. Also, you may see the term Associated Person throughout this brochure. As used in this brochure, our Associated Persons are our firm's officers, employees, and all individuals providing investment advice on behalf of our firm. The use of these terms is not intended to imply that there is more than one individual associated with this firm.
Pension Consulting Services We will provide pension-consulting services to benefits plans and their fiduciaries based upon an analysis of the needs of the plan. Such consulting services will consist of general or specific advice to plan fiduciaries as to the selection or retention of investment advisers to manage the assets of the plan. Upon the plan's selection of an independent investment adviser, we will monitor the advisers' performance to ensure their performance and investment style remains aligned with the investment goals and objectives of the plan. Advice may be given on non-securities matters and any implementation of RCS' recommendations is entirely at the client's discretion.
Consulting fees are payable quarterly in arrears and are based on the following fee schedule: Account Size Annualized Fee $10 million $30,000 $11,000,000 to $50,000,000 $50,000 $50,000,001 to $75,000,000 $60,000 $75,000,001 to $100,000,000 $75,000 Over $100,000,000 Negotiable Hourly - Fixed fees for limited consulting, provided by a senior consultant of our firm, are based on our hourly rate of $240. The hourly fee is negotiable; the complexity of the material and the scope

of the requested services will influence the final fee. The hourly consulting fee is payable at the conclusion of each session.
The foregoing represents the fees the firm generally charges. However, fees are negotiable and arrangements with any particular client may differ from those described above. Fees are payable at the end of each calendar quarter; the fee is prorated for a partial quarter.
All client accounts are regulated under the Employee Retirement Income Securities Act ("ERISA"). We will provide consulting services, as an investment manager, to the plan fiduciaries as described above. We will not maintain discretionary authority or control, whatsoever, with respect to client accounts. The named plan fiduciary must make the ultimate decision as to retaining the services of such investment advisers that we recommend. The plan fiduciary is free to seek independent advice about the appropriateness of any recommended services for the plan.
4 To be an investment manager to qualified plans governed by ERISA, two requirements must be satisfied. First, the investment manager must be registered under the Investment Advisers Act or under applicable state law. Second, the investment manager must acknowledge in writing that it is a fiduciary with respect to the plan. The Department of Labor in Regulation 3-21 clarified the scope of the applicability of ERISA to investment managers. This regulation provides that such a person becomes a fiduciary if advice is given on a regular basis and pursuant to an agreement or undertaking that such services will serve as a primary basis for investment decisions by the plan.
The client agreement may not be modified or amended except in writing and signed by both our firm and the client. Either party may terminate the agreement within five days of the date of acceptance without any penalty, after the five-day period, either party may terminate the agreement on written notice to the other party. We will be entitled to payment of all fees and reimbursement of expenses incurred through the effective date of termination.
Types of Investments We may advise you on any type of investment that we deem appropriate based on your stated goals and objectives. We may also provide advice on any type of investment held in your portfolio at the inception of our advisory relationship.
Assets Under Management We do not manage assets on a continuous basis and; therefore, we do not have any discretionary or non-discretionary assets under management.