CUSTOMER ACKNOWLEDGMENT & NEW ACCOUNT …...Customer Acknowledgment Agreement I (we), the customer(s) or his (their) legal representative (hereafter referred to as “Customer”)

6 / 2020

10151 Carver Road Suite 100 Cincinnati, OH 45242 (800) 478-0788 Form CRS can be found at www.lmkohnandco.com/formcrs/ Brokerage Additional Disclosure Document can be found at www.lmkohnandco.com/additionaldisclosuredocument/

Member FINRA (www.FINRA.org) SIPC (www.SIPC.com) MSRB Affiliated with all major exchanges.

CUSTOMER ACKNOWLEDGMENT & NEW ACCOUNT FORM

Account Number: _____________________________________________

Rep ID: ____________________________________________

PAGE 1 OF 5 CLIENT(S) INITIALS:

RBC Brokerage Account RBC Advisory Account Direct Application Client TD Ameritrade Client

ACCOUNT OWNERSHIP INFORMATION

403b IRA SEP Partnership 529 Individual JTWROS JTIC

Non-Profit Corporation Trust Advisory UG(T)MA Custodian Custodial Qualified Plan

Entity Estate Sole Proprietorship Partnership Investment Club

Other (Indicate type of registration and identify supporting documentation)___________________________________________________________________

Name and Address of Primary Owner/Trustee Name and Address of Primary Owner/Trustee

Date of Birth SSN Date of Birth SSN

Home Phone Business Phone Home Phone Business Phone

Mobile Phone Fax Number Mobile Phone Fax Number

Citizenship Marital Status Citizenship Marital Status

Email Address Email Address

Primary I.D. Document

Driver’s License Passport State I.D

Photo I.D. Other I.D

Primary I.D. Document

Driver’s License Passport State I.D

Photo I.D. Other I.D

Primary ID Document Number Issuer Date Primary ID Document Number Issuer Date

Issuer Name State/County Issued By Issuer Name State/County Issued By

Expiration Date Occupation Expiration Date Occupation

Employer Name and Address Employer Name and Address

ADDITONAL OWNERS (IF APPLICABLE)

Name of Additional Account Owner Date of Birth

Relationship to Primary SSN

Citizenship Occupation

New L.M. Kohn Client:

Existing Client Update: Date Signed:

http://www.lmkohnandco.com/formcrs/

http://www.lmkohnandco.com/additionaldisclosuredocument/

http://www.finra.org/

http://www.sipc.com/

6 / 2020




ADDITIONAL CLIENT INFORMATION

Are you affiliated with or work for a member firm of a stock exchange or the Financial Industry Regulatory Authority? If yes,

L.M. Kohn & Company will send your employer notification of your intent to open an account as required by regulations.

Yes No

Are you a director, a policy-making officer, or a 10% shareholder of a publicly traded company?

If yes, name and address of company: _________________________________________________________________

Yes No _________________________________________________________________

Number of Years as an Investor Number of Dependents (including self) Known Financial Advisor Since

Investment Experience. Please check the products/strategies that best reflect your investment experience to date.

None Bonds Options Margin Active Short-Term Trading Inverse/Leveraged Products

Stocks Mutual Funds Annuities Futures Exchange Traded Funds Alternative Investments

Is the account trade by a third party? If yes, please state the name/address of third-party agent. Yes

No

Account Opened in Person? Yes

No

Initial Order Solicited? Yes

No

Deposit Type Cash

Securities

Transaction Deposit Purchase Pending Sale

Quantity Security Name

Investor Time Horizon. When do you expect to cease accumulating assets in this account, and begin withdrawing significantly from the principal?

Less than 1 year 4 to 6 years 9 to 11 years 1 to 3 years 7 to 8 years 12 years or more

Liquidity Needs. On an annual basis, what are your expected withdrawal needs from this account?

Less than $1,000 $1,000 - $9,999 $10,000 - $49,999 $50,000 - $99,999 $100,000 - $249,999 $250,000+

Typical Investment Holding Period.

Less than 1 year 4 to 6 years 9 to 12 years 1 to 3 years 7 – 8 years 12 years or more

Investment Decision Making. How involved are you in making your investment decisions?

I make my own investment decisions and/or consult with someone other than my Financial Advisor

I discuss my investment decisions with my Financial Advisor, but I also consult other sources of financial information and/or discuss with

other parties.

I rely on the guidance of my Financial Advisor most of the time.

I follow the recommendation of my financial professional all of the time.

This is my first investment account other than my employer sponsored retirement program

Source of Funds Business/Self-Employment Investment Income Sale of Asset Settlement Wages/Income Gift/Inheritance Rollover Savings Transfer

Account Source Cold Call Client Referral New Rep Transfer Existing Client Seminar Walk-in/Call-in Personal Acquaintance

CLIENT(S) INITIALS: PAGE 2 OF 5





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CLIENT(S) INITIALS:

PAGE 3 OF 5

TRUSTED CONTACT

The trusted contact person is intended to be a resource in protecting your assets and responding to possible financial exploitation. The trusted contact person may be contacted, and pertinent account information may be disclosed to the trusted contact person, as necessary, to address possible financial exploitation, to confirm your current contact information, health status or the identity of any of your authorized representatives (e.g. POA, trustee, etc.) or beneficiaries. A trusted contact is not an authorized party on the account and no instructions from him/her will be accepted to effect transactions and/or change information related to the account.

First Name

M.I.

Last Name

Phone Number E-Mail Address

Address Apt/Suite

City State Zip Code

Relationship

Child Domestic Partner Parent Sibling Spouse

Other Relative Other: ____________________________________

Client declined to provide

CLIENT ADDRESS OF RESIDENCE

Street Apartment/Suite

City, State/Province, Postal Code

Country

FINANCIAL INFORMATION

Annual Income (all sources): Less than $50,000 $300,000 – 399,999 $1,000,000+

$50,000 – 99,000 $400,000 – 499,999 $100,000 – 199,999 $500,000 – 749,999 $200,000 – 299,999 $750,000 – 999,999

Joint Owner’s Annual Income (all sources): Less than $50,000 $300,000 – 399,999 $1,000,000+

$50,000 – 99,000 $400,000 – 499,999 $100,000 – 199,999 $500,000 – 749,999 $200,000 – 299,999 $750,000 – 999,999

Net Worth – excluding home (combined if joint account): Less than $100,000 $500,000 – 999,999 $100,000 – 249,999 $1,000,000 – 2,999,999 $200,000 – 299,999 $3,000,000+

Liquid Net Worth (combined if joint account): Less than $100,000 $500,000 – 999,999 $100,000 – 249,999 $1,000,000 – 2,999,999 $250,000 – 499,999 $3,000,000+

Liabilities (all sources):

Less than $50,000 $300,000 – 399,999 $100,000,000+ $50,000 – 99,000 $400,000 – 499,999 $100,000 – 199,999 $500,000 – 749,999 $200,000 – 299,999 $750,000 – 999,999

Estimated Tax Bracket 0-10% 11-15% 16%-25% 26%-28% 29%-33% Over 33%





6 / 2020




PAGE 4 OF 5 CLIENT(S) INITIALS:

INVESTMENT OBJECTIVE / RISK TOLERANCE (CHOOSE ONE INVESTMENT OBJECTIVE AND ONE RELATED RISK TOLERANCE)

Principal of Preservation/Income

Minimal: I have a minimal tolerance for risk and am willing to accept the lowest possible returns which may not keep pace with inflation.

Low: I have a low tolerance for risk and am willing to accept some level of volatility to seek returns with less fluctuation in value.

Balanced Growth

Minimal: I have a minimal tolerance for risk and am willing to accept the lowest possible returns which may not keep pace with inflation.


Moderate: I have a moderate tolerance for risk and am willing to accept modest returns with potential for some fluctuation in value.

Growth


Moderate: I have a moderate tolerance for risk and am willing to accept modest returns with potential for some fluctuation on value.

High: I have a moderate to high tolerance for risk and am willing to accept the potential for greater fluctuation in value to seek higher returns.

Aggressive Growth/ Aggressive Income

Moderate: I have a moderate tolerance for risk and am willing to accept modest returns with potential for some fluctuation on value.


Maximum: I have a high tolerance of risk and am willing to accept the potential for significant fluctuation or loss in value while seeking to maximize potential returns.

Speculation


Maximum: I have a high tolerance of risk and am willing to accept the potential for significant fluctuation or loss in value while seeking to maximize potential returns.

RBC ACCOUNTS ONLY:

CASH SWEEP SELECTION (AVAILABILITY MAY BE LIMTED BASED ON ACCOUNT OR RESIDENCY LIMITATIONS)

None WIP/CIP (CRINT) RBC Insured Deposits Managed by: Global Asset Management (U.S.) Inc. RBC Institutional Government Fund

STANDING INSTRUCTIONS

Buy Hold in Firm Name – Default Transfer and Ship Transfer and Hold Sell Hold Proceeds in Account-Default Send Processed (Net Sell) Send Proceeds as Designated (No Netting) Dividend/Interest Payments

Hold Funds – Default Pay Monthly Pay Weekly Pay Daily

OPTIONAL: ADVISORY PREFERENCES

Confirm Frequency Monthly Daily

Proxy Voting Manager Client

CLIENT ACKNOWLEDGEMENT AND AGREEMENT

1. I confirm that I am at least 18 years of age and of fill legal age in my state residence. 2. I acknowledge that I have received the Customer’s Agreement and agree to abide by its term as currently in effect or as they may be amended

from time to time. If this account is a retirement plan using RBC Correspondent Services (RBC CS), a division of RBC Capital Markets, LLC, Member NYSE/FINRA/SIPC, plan documents, I acknowledge I have received the applicable plan disclosure documents,

3. If I select an Automatic Sweep Investment option, I acknowledge that I am granting affirmative consent to have free credit balances in my Account included in the Cash Sweep program and have received the general terms and conditions of the products available through the Cash Sweep Program, and such products and terms and conditions may be changed from time to time by RBC CS.





6 / 2020




HOME OFFICE USE ONLY

Registered Representative(s) is Licensed in Client’s State of Residence: Yes No

Check Attached to This Application?

Yes No

Fund / Insurance Company Application Forwarded On By:

Fax Mail Overnight

OFAC Check:

___________________________________________________________

PAGE 5 OF 5

FORM CRS DELIVERY

I / We hereby certify that the Form CRS was delivered at or before the time of signing this application.

Client(s) Initials: ____________________________ Financial Professional(s) Initials: _____________________________

CLIENT ACKNOWLEDGEMENT AND AGREEMENT

I understand that this account is being governed by the pre-dispute arbitration provision in section 19 of the Customer Acknowledgement Agreement.

SIGNATURES

By signing below, I certify that the information provided on this form is true, correct and complete. All required persons must sign.

Primary Account Owner/Trustee Signature Date Print Name of Primary Account Owner/Trustee Date

Joint Tenant or Co-Owner Signature Date Print of Name of Joint Tenant/Co-Trustee Date

Joint Tenant or Co-Owner Signature Date Print of Name of Joint Tenant/Co-Trustee Date

Joint Tenant or Co-Owner Signature Date Joint Tenant or Co-Owner Signature Date

Approved By: Financial Professional Date Firm Principal Date

INTERNET GAMBLING ATTESTATION (REQUIRED FOR ALL ENTITY ACCOUNTS)

If I am signing on behalf of an entity, I represent that neither the entity nor entity controlling, controlled by or under common control with the entity is engaged in Internet Gambling Business. For Purposes of this representation, “Internet Gambling Business” shall mean the business of placing, receiving or otherwise knowingly transmitting a bet or wage by any means which involves the use, at least in part, of the Internet. _______________________________________________________________________________________________________________________

Signature Date

DISCLOSURE OF ACCOUNT INFORMATION

Under Securities and Exchange Commission Rule 14B-1(c), we will be obligated to provide your name, address and securities positions to each requesting company whose securities we hold for your account unless you object to such disclosure. The Rule prohibits companies from using any information so obtained for any purpose other than communication with you.

If you object to the disclosure of your name, address and securities positions, you must initial here:

_______________________________________________________________________________________________________________________

Initials Date





Account Number______________________________________________________

Rep ID__________________ Alternate Branch _____________________

Cu s t o d i a l in d i v i d u a l Re t i R e m e n t aC C o u n t ad o p t i o n ag R e e m e n t

Se c t i o n on e: cl i e n t in f o r m at i o n

Name and Address Date of Birth

SSN

Se c t i o n tw o: ty p e o f co n t r i b u t i o n

Select One:IR IRA

IR IRA Rollover from Qualified Plan, TSA/403(b), or Governmental 457(b) - Commingled (Complete Rollover Certification)

RR IRA Rollover from Qualified Plan, TSA/403(b), or Governmental 457(b) - Segregated (Complete Rollover Certification)

DI Decedent IRA

IP SEP/IRA Business Name: __________________________________(Attach copy of employer’s SEP document.) Employer’s SEP or SAR/SEP Account Number: ________________

IS SAR/SEP Business Name: _________________________________ (Attach copy of SEP form.) Employer’s SEP or SAR/SEP Account Number: ________________

MI Minor IRA

Se c t i o n th r e e: be n e f i c i a ry De S i g n at i o n

Relationship Definitions: S=Spouse N=Nonspouse E=Entity T=Trust (Mark one in the box provided.)At each Beneficiary designation, indicate if such Beneficiary dies before you, how their portion should be paid:

Pro Rata – To the remaining primary Beneficiaries named on this form proportionate to their relative percentages (or if there are no remaining primary Beneficiaries, to the contingent Beneficiaries listed).Per Stirpes – Equally to such Beneficiary’s descendents, who survive you, by right of representation.

Please note, if no selection is made the Pro Rata designator will apply.

Beneficiary Name and Address Primary Contingent

Relationship SSN/EIN

Date of Birth %

Pro Rata Per Stirpes



Date of Birth %




Date of Birth %




Date of Birth %


RBC Correspondent Services, a division of RBC Capital Markets, LLC, Member NYSE/FINRA/SIPC.Page 1 of 4 R_UIAA (03/20)

Account Number______________________________________________________



Se c t i o n th r e e: be n e f i c i a ry De S i g n at i o n co n t i n u e D



Date of Birth %


For additional beneficiaries, see attached form.

Se c t i o n fo u r: co n S e n t o f Sp o u S e

Please consult your state laws, with your attorney and/or tax professional, as you deem necessary, to determine whether or not you wish to capture your spouse’s consent to an IRA, Roth, SEP, and SIMPLE retirement account beneficiary designation in which your spouse is not named 100% primary beneficiary and the account contains community property (i.e. subject to the state laws of AZ, CA, ID, LA, NM, TX, WA or WI. Subject to change). If so, you may do so here.

Participant must complete if not married: I certify at the time of signing, I am not married.

Spouse must complete and sign (with Notary) if participant is married: I certify that I am the spouse of the above-mentioned participant and that I have read the above beneficiary designation and supplements hereto, if any. In the event of the death of my spouse I do hereby consent to the payment of my spouse’s interest in this account to the above-named beneficiary and waive any such rights that I now have and/or may have in such interest.

Spouse Signature Date Print Name

Notary Signature Date Seal Here

This document must accompany the Custodial Traditional IRA Agreement and Disclosure Statement.


Account Number______________________________________________________



Se c t i o n f i v e: aD o p t i o n ag r e e m e n t

Under penalties of perjury, I certify that:1. The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me), and2. I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal

Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer subject to backup withholding, and

3. I am a U.S. citizen or other U.S. person, and4. The FATCA codes (if any) indicating that I am exempt from FATCA reporting is correct.

You must cross out item 2 above if you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all interest and dividends on your tax return. By entering your name below, you signify that you have read, met, and agreed to all terms and conditions above. The IRS does not require your consent to any provision of this document other than the certifications required to avoid backup withholding. You may cross out this entire Substitute W-9 Certification section if you are not a U.S. citizen or other U.S. person. In such case, an appropriate Form W-8 must be submitted. I certify that the above information is correct. I appoint RBC Capital Markets, LLC as Custodian in accordance with the terms and conditions of this Individual Retirement Custodial Agreement and consent to the Custodian’s fees in its fee schedule. The fees are subject to change upon notice to the Account Owner. I acknowledge receipt of a copy of the plan document under which this Individual Retirement Account is established, a copy of this Adoption Agreement, a copy of the Disclosure Statement with respect to this Individual Retirement Account and that I may obtain a copy of the fee schedule from a representative of the introducing broker servicing this account. I direct the Custodian to invest available uninvested cash balances of my account on a daily basis in a money market fund. I direct all benefits upon my death be paid as indicated above. In the event that this is a rollover contribution, I irrevocably elect, pursuant to the requirements of 1.402(a)(5)-IT of the IRS regulations, to treat this contribution as a rollover contribution. THIS AGREEMENT CONTAINS A PREDISPUTE ARBITRATION CLAUSE AT ARTICLE 8 OF THE INDIVIDUAL RETIREMENT CUSTODIAL AGREEMENT AND PAGE 4 OF THIS ADOPTION AGREEMENT.

Client Signature Date Print Name

If you have questions about your account, please contact your financial professional.

Accepted By Print NameBrett Thorne


Account Number______________________________________________________



cl i e n t fo r m co m p l e t i o n in S t r u c t i o n S

1. Read carefully the accompanying Custodial Traditional IRA Agreement and Disclosure. (Capitalized terms in the IRA Adoption Agreementhave the same meanings as in the IRA Agreement and Disclosure Statement.)

2. Complete or correct Sections 1, 2, 3, 4 and 5, if applicable.3. Complete additional forms if indicated by the box in Section 2.4. Keep the client copy and the IRA Agreement and Disclosure Statement for your records.5. Return the original document in the envelope provided.

be n e f i c i a ry De S i g n at i o n ru l e S o f in t e r p r e tat i o n

1. Primary Beneficiaries. Unless the Account Owner (“Owner”) otherwise specifies, the Account will be paid in equal shares to the primaryBeneficiary or Beneficiaries who survive the Owner. If the Owner specifies percentage (or fractional) shares for the primary Beneficiaries andif some but not all such Beneficiaries fail to survive the Owner, the Account will be divided among the surviving primary Beneficiaries inproportion to the relative percentage (or fractional) shares of each, unless the owner has stipulated a Per Stirpes designation.

2. Contingent Beneficiaries. If no primary Beneficiary survives the Owner, the Account will be paid in equal shares (unless otherwise specifiedin the Beneficiary designation) to the contingent Beneficiary or Beneficiaries who survive the Owner, following the rule in paragraph (1) above.

3. Death Before Full Distribution. Unless the Owner has otherwise specified in the Beneficiary designation, the Beneficiary will become fixed asof the Owner’s death so that, if a Beneficiary survives the Owner but dies before the receipt of all amounts due such Beneficiary, the remainingamounts will be payable to the representative of the Beneficiary’s estate or to one or more Beneficiaries designated by such Beneficiary.

4. Designation by Relationship Only. Any designation of a Beneficiary only by statement of relationship to the Owner (or Beneficiary) will beeffective only to designate the person or persons standing in such relationship at the Owner’s (or Beneficiary’s) death.

If no Beneficiary designation is in force at the time of the Owner’s death, the Beneficiary shall be the spouse of the Owner. If there is no living spouse, the Beneficiary shall be the Owner’s estate.

ag r e e m e n t t o ar b i t r at e co n t r o v e r S i e S

This agreement contains a predispute arbitration clause. By signing an arbitration agreement the parties agree as follows:• All parties to this agreement are giving up the right to sue each other in court, including the right to a trial by jury, except as provided by

the rules of the arbitration forum in which a claim is filed.• Arbitration awards are generally final and binding; a party’s ability to have a court reverse or modify an arbitration award is very limited.• The ability of the parties to obtain documents, witness statements and other discovery is generally more limited in arbitration than in court

proceedings.• The arbitrators do not have to explain the reason(s) for their award unless, in an eligible case, a joint request for an explained decision has

been submitted by all parties to the panel at least 20 days prior to the first scheduled hearing date.• The panel of arbitrators will typically include a minority of arbitrators who were or are affiliated with the securities industry.• The rules of some arbitration forums may impose time limits for bringing a claim in arbitration in some cases, a claim that is ineligible for

arbitration may be brought in court.• The rules of the arbitration forum in which the claim is filed, and any amendments thereto, shall be incorporated into this agreement.The Client agrees that any controversy arising out of or relating directly or indirectly to this Agreement, or any investment by the Client hereunder, or with respect to transactions of any kind executed by or with RBC Capital Markets, LLC (“RBC CM”), Member NYSE/FINRA/SIPC, any introducing broker for the Account (if applicable), or each of their respective officers, directors, agents, employees, or affiliate, or with respect to this Agreement or any other agreements entered in to with RBC CM or the introducing broker (if applicable) relating to the Accounts with RBC CM or the breach thereof, shall be settled by arbitration pursuant to the Federal Arbitration Act and in accordance with the rules, then in effect, of the Financial Industry Regulatory Authority. Notice preliminary to, in conjunction with or incident to arbitration, may be sent to the Client by mail and personal service is hereby waived. Judgment upon any award rendered by the arbitrators may be entered in any court having jurisdiction thereof.No person shall bring a putative or certified class action to arbitration, nor seek to enforce any predispute arbitration against any person who has initiated in court a putative class action; or who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action until: (i) the request for class certification is denied; (ii) the class is decertified; or (iii) the customer is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this Agreement except to the extent stated herein.


CLIENT COPY – FOR YOUR RECORDS

L.M. KOHN & COMPANY BROKERAGE AND INVESTMENT MANAGEMENT

Customer Acknowledgment Agreement

I (we), the customer(s) or his (their) legal representative (hereafter referred to as “Customer”) hereby acknowledge to L. M. Kohn & Company (LMK) and its registered

representatives listed below (hereafter referred to collectively as “L. M. Kohn & Company (LMK)” that:

1. Customer understands that the investment or insurance products being offered are not insured by the Federal Deposit Insurance Corporation (FDIC),

The National Credit Union Association (NCUA) or any government agency, are not deposits or other obligations of the institution, are not guaranteed by

the institution, and are subject to investment risks including possible loss of principle investment.

2. Customer is of legal age in his state of residence or domicile and is authorized to enter into this agreement.

3. Customer has received and reviewed the current prospectus(es) for the investment(s) applied for.

4. Customer understands the objectives and risks of the investment applied for and acknowledges that there can be no assurance that such objectives will be

achieved.

5. Customer understands, as applicable, the distinction among classes of a multi-class fund.

6. Customer understands the concept of total return, yield, and distribution rates as applies to mutual funds.

7. Customer acknowledges that LMK will not maintain an account. Customer understands that his funds will be invested in securities selected by Customer and all

such accounts will be maintained by the respective investment or life insurance company, which issues the securities. Customer agrees to be bound by the terms

and conditions (as set forth in the account application, subscription agreement, custodial agreement, contract, or any other separate agreement) of each respective

investment or life insurance company investment.

8. Customer acknowledges that confirmations and account statements will be provided by the respective investment/insurance Companies, and not by LMK.

Customer understands that disputes regarding confirmations or accounts will be handled between him and the respective investment or insurance company, and

not LMK.

9. Customer acknowledges that LMK will not repurchase his securities, and that requests for redemption of his securities should be addressed to the issuer of the

securities.

10. Customer appoints LMK as his agent for the purpose of carrying out his directions with respect to the purchase and sale of securities in accordance with the terms

and conditions of this acknowledgment.

11. Customer understands that LMK does not act as a Registered Investment Advisor with respect to the purchase or sale of securities Customer may make, and that no fiduciary relationship exists. All transactions will be done only by order of Customer or his authorized representative, and LMK shall only transact securities

on an agency (not principal) basis.

12. LMK shall not be liable for loss caused directly or indirectly by war, natural disasters, government restrictions or other conditions beyond its control, including but

not limited to exchange or market rulings, extreme trading volumes or market volatility.

13. Customer agrees not to buy any securities of a corporation of which he is an affiliate or sell any restricted securities except in compliance with applicable laws and

regulations and upon notice to LMK that the securities are restricted.

14. This agreement shall be governed by the laws of the state of Ohio.

15. Communications may be sent to Customer at his current address (as disclosed in writing now or in the future to LMK), and all communications so sent, whether

by mail, delivery service, or otherwise shall be deemed given to customer personally, whether actually received or not.

16. LMK reserves the right to record any and all phone communication with the home office to insure quality control.

17. This agreement applies only to investments placed at retail with LMK. Investments introduced by LMK to other firms, will be covered by separate agreement.

18. Investment Objectives Definitions: Capital Preservation: The objective of Capital Preservation is to protect your initial investment by choosing investments that minimize the potential of any loss of principal. The long-term risk of capital preservation is that the returns may not be adequate to offset inflation. Income: The

primary objective of an income strategy is to provide current income rather than long-term growth of principal. Balanced/Conservative Growth: The primary

objective of Balanced/Conservative Growth is to provide reasonable growth with less volatile performance by looking at fixed income and blue chip type equity investments, the more risk averse, the more that is allocated toward fixed income with a moderate duration. Growth: The objective of a growth strategy is to

increase the value of your investment over time while recognizing a high likelihood of volatility. Aggressive Growth: The objective of an aggressive growth

strategy is above average capital appreciation by investing in issues that may generally be more volatile than the overall market. Risk of capital loss is high in this category. Speculation: A speculator’s objective is to assume a higher risk of loss in anticipation of potentially higher-than-average gain by taking advantage of

expected price changes.

19. Predispute Arbitration Agreement: This Customer Acknowledgment Agreement is subject to the arbitration rules of the Financial Industry Regulatory

Authority. Customer should be aware that:

(i) Arbitration is final and binding on the parties.

(ii) The parties are waiving their right to seek remedies in court, including the right to jury trial.

(iii) Pre-arbitration discovery is generally more limited than and different from court proceedings.

(iv) The arbitrator’s award is not required to include factual findings or legal reasoning and any party’s right to appeal or to seek

modifications of rulings by the arbitrators is strictly limited.

(v) The panel of arbitrators will typically include a minority of arbitrators who were or are affiliated with the securities industry.

Arbitration may not be binding in cases of class action; No person shall bring a putative or certified class action to arbitration, nor seek to enforce any pre-

dispute arbitration agreement against any person who has initiated in court a putative class action; or who is a member of a putative class who has not opted

out of the class with respect to any claims encompassed by the putative class action until: (i) the class certification is denied; or (ii) the class is decertified; or

(iii) the customer is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights

under this agreement except to the extent stated herein.

Customer agrees that all controversies that may arise between customer and LMK concerning any order or transaction, or the continuation, performance or

breach of this acknowledgment or any other agreement between them, whether entered into before, on, or after the date of this acknowledgment is executed,

shall be settled before a panel of independent arbitrators set up by the Financial Industry Regulatory Authority. Customer understands that judgment upon

any arbitration award may be entered in any court of competent jurisdiction.

Any Customer complaints must be directed to: Carl R. Hollister

President & COO

L.M. Kohn & Company

10151 Carver Rd, Suite 100

Cincinnati, OH 45242



Mutual Fund Share Class Fee, Expense, and Risk Disclosure

What is a Mutual Fund? A mutual fund is a collective investment vehicle managed by a professional investment company that pools money from many people and invests it in stocks, bonds, or other

securities. Each investor owns shares, which represent a part of these holdings. All mutual funds will redeem (buy back) your shares on any business day. When you buy shares,

you pay the current net asset value (NAV) (the value of one share in a fund) per share, plus any sales charge (also known as a load). When you sell your shares, the fund will

pay you NAV less any other sales load. As with individual stocks, the share price of mutual funds fluctuates and the value of an investment may be more or less than its original

cost.

Mutual funds can be a great way to invest because:

- They are a collection of many stocks and/or bonds, so your investment risk is spread out

- They are managed by professional fund managers who invest the pooled money into individual securities

- Costs associated with the underlying security are often lower than what you would pay on your own because the fund buys and sells large amounts of securities at a

time

Mutual Funds and Taxes Taxes can significantly reduce the net returns on your mutual fund investment, so you should pay close attention to them.

- Some funds pay dividends on a monthly, quarterly, or annual basis. Dividends are distributed to shareholders on a pro rata basis. They must be reported on your tax

return (whether reinvested or paid in cash) in the year of distribution.

- Short-term and Long-term capital gain distributions (representing the fund's net gains from securities sales) must be reported on shareholders tax returns.

- When you redeem shares of a fund, you generally must pay tax on any capital gain realized. The amount of tax to be paid on a gain depends on the rate at which

the gain is taxed (short-term or long-term), which in turn depends on how long you owned the fund shares prior to selling them.

The Costs Associated with Mutual Funds When investing in a mutual fund, you may have the opportunity to choose among several share classes, most commonly class A, class B, and class C. The differences among these

share classes typically revolve around how much you will be charged for buying the fund, when you will pay any sales charges that apply, and the amount you will pay in annual

fees and expenses. This multi-class structure offers you the opportunity to select a share class that is best suited to your investment goals and your expected investment holding

period.

Mutual funds have costs that are passed on to investors. It's important for you to understand what the different costs are, s ince these are usually deducted from the money you've

invested and can affect the return of your investment over time.

Typically, mutual fund costs consist of sales charges and annual expenses. The sales charge or load, is deducted from your investment when you buy the fund, or when you sell it.

The annual expenses cover the fund's operating costs, including management fees, distribution and service fees (commonly known as 12b-1 fees), and general administrative

expenses. They are generally computed as a percentage of your assets and then deducted from the fund before the fund's returns are calculated. (To better understand what these

charges are, you should review the Fees and Expenses section of the fund's prospectus.)

So which share class should you choose? That answer depends on multiple factors, including how much you want to invest and your investment time horizon.

Class A shares Class A shares may appeal to you if you're considering a long-term investment. When you purchase class A shares, a sales charge, called a front-end load, is typically deducted

upfront, thus reducing the actual amount of your initial investment. For example, suppose if you decide to invest $35,000 in class A shares with a hypothetical front-end sales load

of 5.0 percent. You will be charged $1,750 on your purchase, and the remaining $33,250 will be invested. However, class A shares offer you discounts called breakpoints, on the

front-end load if you buy shares in excess of a certain dollar amount. Typically, a fund will offer several breakpoints, so the more you invest the greater the reduction in the sales

load. For example, let's say that a mutual fund charges a load of 5.0 percent if you invest less than $50,000, but reduces that load to 4.50 percent if you invest at least

$50,000 but less than $100,000. This means that if you invest $49,000, you'll pay $2,450 in sales charges, but if you invest $50,000 (i.e., you reach the first breakpoint), you'll

pay only $2,250 in sales charges. You may also qualify for breakpoint discounts by signing a letter of intent and agreeing to purchase additional shares within a certain period of

time (generally 13 months), or by combining your current purchase with other investment holdings that you or your spouse and children have within the same fund or family of

funds (called a right of accumulation). Since rules vary, read your fund's prospectus to find out how you may qualify for available breakpoint discounts, or contact your financial

consultant for more information. Class A shares tend to have lower total annual expenses due to lower 12b-1 fees than either C share or even B share mutual funds, thus reducing

your overall costs over time. This may make class A shares more attractive to you if you wish to hold on to the fund for a longer period of time.



Class B Shares When you purchase class B shares you are putting 100% of your investment to work immediately since there is no front-end sales charge as in the A shares, however there might

be significantly higher costs associated with this share class. The first cost to note is the higher annual ongoing 12b-1 expenses. The second concern with this share class is the

Contingent Deferred Sales Charge (CDSC). Most B share mutual funds have a 7 year holding period before the expiration of any CDSC which can be as high as 6.0 percent. If you

were to redeem shares prior to the end of the stated CDSC period, you would be subject to a fee imposed by the fund. In many cases B share mutual funds convert to the lower

annual expense class A shares after the expiration of the CDSC. In essence B shares lock your money up for a 7 year period (some mutual funds have different CDSC periods. )

This share class may be more suitable for investors who typically hold their investment positions for 7 or more years and do not qualify for a breakpoint.

Class C shares When you purchase class C shares, a front-end load is normally not imposed. There is a CDSC charge, typically 1.0 percent, that is reduced to zero if you hold the shares beyond

the CDSC period, which for class C shares is typically 12 months. For those reasons class C shares may be appropriate if you intend to keep the fund for less than 5 years. The

12b-1 fees are greater for class C shares than for class A shares. The expenses will not decrease during the life of the investment, because some C class shares don't convert to

class A shares. In addition, there are no breakpoints available for large purchases.

Risk & Past Performance Because each fund pursues its own unique investment objectives, each fund has its own set of risks. While equity funds invest principally in common stocks and other equity

securities and the fixed income funds invest principally in bonds and other fixed income securities, in order to achieve their investment objectives, the funds may at times use

certain types of investment derivatives, such as options, futures, forwards and swaps. These instruments involve risks different from, and in certain cases, greater than, the risks

presented by more traditional investments. For funds that can invest in foreign securities, which may include emerging market s securities, risks may be magnified due to changes in

foreign exchange rates and the possibility of substantial volatility due to political and economic uncertainties in foreign countries. Funds that invest substantially all of their assets

in foreign securities include risks not associated with funds that invest primarily in U.S. issues. Because those funds will invest in foreign currency denominated securities,

fluctuations may be magnified by changes in foreign exchange rates. These risks are fully discussed in each fund's prospectus .

- Each mutual fund has a prospectus and other literature that describe the fund's objective, how it plans to achieve that objective, and the fund's style of investing. The

prospectus also discloses important specific details about the fund that you should be aware of, including allowable investments, fund costs, past performance, risks, and

financial statements. Always read a fund's prospectus before investing.

- For further information on mutual fund classes, log on to the website of the Financial Industry Regulatory Authority (FINRA) at www.finra.org. You can also find

information on the Securities and Exchange Commission (SEC) website at www.sec.gov.

- As you consider how best to invest in mutual funds, keep in mind that there is no guarantee any mutual fund will achieve its investment objective. You should discuss

all of your investment goals with your financial consultant. Mutual funds are not guaranteed or insured by the FDIC or any other government agency. You can lose

money investing in mutual funds.

- Past performance does not guarantee future results. Current performance may be lower or higher than past performance. The investment return and principal value of

an investment in the fund will fluctuate as the prices of the individual securities in which it invests fluctuate, so that shares, when redeemed, may be worth more or

less than their original cost. You should consider the investment objectives, risks, charges and expenses of the fund carefully before investing

For Further information please contact your financial consultant or the home office at 1-800-478-0788.

For mutual fund share class cost comparisons go to www.lmkohnandco.com and hover over Investor Resources and then click on Other Resources and click FINRA Fund Analyzer. You may also go directly to FINRA’s website, www.finra.org or go to https://tools.finra.org/fund_analyzer/

http://www.lmkohnandco.com/


https://tools.finra.org/fund_analyzer/



Business Continuity Planning Statement

L. M. Kohn & Company maintains important disaster recovery and business continuity plans that may be activated in the

event of a significant business disruption. The firm realizes the critical nature of being able to continue material operations

if an incident occurs that could affect mission-critical business units and systems. These plans are key components in

maintaining emergency procedures, and are required by securities industry regulations.

In planning for potential significant business disruptions, L.M. Kohn & Company has studied a number of outcomes from

varying scenarios, including, as examples only, a disruption to a single building, a city-wide business disruption, and a

regional disruption. The firm’s plans are intended to permit the continuation of key business operations during most types

of disruptions by resuming mission-critical operation, usually within the same business day as the disruption. To assist this

business continuity, the firm maintains back-up technology processing capabilities in alternate locations. In cases of an

extreme disruption, where the continuation of business may not be practical or in the best interest of the firm or its clients,

L.M. Kohn & Company has implemented steps necessary to allow clients prompt access to their funds and securities.

However, clients should be aware that because the firm’s plans contain details of a confidential and proprietary nature, they

cannot be distributed to the public. Clients should also note that L.M. Kohn & Company’s business continuity plan is

subject to modification, and that updates to this Business Continuity Planning Statement will be promptly posted on L.M.

Kohn & Company’s Web site, as permitted by applicable law. Questions regarding our Business Continuity Plan should be

directed to [email protected].

Important Information About Procedures for

Opening a New Account With L.M. Kohn & Company

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial

institutions to obtain, verify, and record information that identifies each person who opens an account.

L.M. Kohn & Company falls under the definition of “financial institution.”

What this means to you:

When you wish to open an account with L.M. Kohn & Company, we will ask for your name, address, date of birth and other

information which will allow us to adequately identify you.

We may also ask to see your driver’s license, passport or other appropriate identifying documents.

If it becomes necessary for you to change your address, please contact your Registered Representative immediately to obtain

an address change request form to ensure that your account statements and notifications are delivered to the proper address.

Giving notice to the U.S. Postal Service WILL NOT update your address in our systems.

Thank you for your assistance in this matter of greatest importance as we all make every effort to combat identity

theft, terrorism, the funding of terrorism, illegal money laundering schemes and fraud.

Additional Disclosure Document

10151 Carver Rd. ∙ Suite 100 ∙ Cincinnati, Ohio 45242 ∙ Tel 513-792-0301 ∙ 800-478-0788 ∙ Fax 513-792-0300 Full-Service Brokerage ∙ Investment Advisory Services ∙ Insurance 6/2020

Member ∙ FINRA ∙ SIPC ∙ MSRB ∙ Affiliated with all major exchanges Page 1 of 8

Broker‐Dealer Services

Brokerage Accounts

Types of Relationships and Services.

• We offer brokerage accounts through RBC Correspondent Services LLC (RBCCS) on a fully disclosed basis. RBCCS is our

clearing firm and custodian of your assets through our brokerage relationship.

• If you open a brokerage account, you will pay us a transaction‐based fee, generally referred to as a commission, every time you

buy or sell an investment.

• You may select investments or have us recommend investments for your account, but the ultimate investment decision for your

investment strategy and the purchase or sale of investments will be yours.

• We can offer you additional services to assist you in developing and executing your investment strategy and monitoring the

performance of your account. Our clearing firm RBC Correspondent Services LLC, your insurance company if a fixed or variable

product, or your investment company if you own mutual funds held directly with a fund company will deliver account statements

to you on a regular basis (quarterly for brokerage and investment company) statements in paper or electronic format at your

preference.

• We offer a limited selection of investments. Other firms could offer a wider range of choices, some of which might have lower

costs.

• Our firm does not offer private placements, non-publicly traded securities such as direct participation programs, non-publicly

traded Real Estate Investment Trusts, Busines Development Companies or Partnerships.

• Through our clearing firm RBC Correspondent Services LLC (RBCCS) we can offer margin accounts, check writing and VISA

debit cards against your brokerage account, or credit access lines pledged by the securities in your brokerage accounts for your

borrowing needs. Additionally, RBCCS can offer electronic bill paying as well as ACH on demand for your free reserves.

• We can offer taxable and tax deferred brokerage accounts through our clearing firm RBCCS. RBCCS offers traditional and

ROTH IRA accounts, SEP-IRA and SIMPLE IRA accounts as well as self-directed 401k, profit sharing or money purchase

plans.

• We can offer you investments through a traditional brokerage account or investment by direct application such as 529 plans,

annuities, Education IRAs, 403b or 401k plans. For investments purchased by application your assets will be held directly with

the investment company or insurance company sponsoring the investment.

• We may offer performance reports to you on your accounts with us. These reports gather information from sources we believe

to be reliable. In no way are any of these reports considered a substitute for your account statements provided by the clearing

firm, investment company or insurance company.

Our Obligations to You.

• We must act in your best interest and not place our interests ahead of yours when we recommend an investment or an

investment strategy involving securities. When we provide any service to you, we must treat you fairly and comply with

several specific obligations. Unless we agree otherwise, we are not required to monitor your portfolio or investments on an

ongoing basis.

• Our interests can conflict with your interests. When we provide recommendations, we must eliminate these conflicts or at the

very minimum disclose them to you and do our best to reduce them (if applicable).




• We, as well as our registered representatives can only solicit securities business in states where the firm and the registered

representative is licensed

• We will make available as much information as possible, that we have access to, from sources we believe to be reliable upon

your request. Such information may include research reports from companies or services that we pay a fee.

• We will conduct ourselves in a professional manner, we will provide objective advice and provide all material facts to you

that are available to us at the time of any recommendation.

• We will inform you of the costs, fees, expenses, and commission charges you will incur on each transaction.

• We will disclose to you what commissions, markups, markdowns we will receive on each transaction.

• We will not take any transaction direction by email, all transaction authority from you must be verbally delivered.

• We will train, make available or directly inform our registered representatives of new technologies, new tax law changes, and

market conditions to better enable them to serve you.

• We will conduct an annual meeting with our registered representatives to go over industry compliance concerns and firm

policies and procedures.

• We will conduct regularly scheduled visits and or audits of our offices to check for compliance with firm, state and regulatory

rules and regulations.

Fees and Costs. Fees and costs affect the value of your account over time. Please ask your financial professional to

give you personalized information on the fees and costs that you will pay.

• Transaction‐based fees. You will pay us a fee every time you buy or sell an investment. This fee, commonly referred to as a

commission, is based on the specific transaction and not the value of your account.

• With stocks, options, preferred shares, or exchange‐traded funds, this fee is typically considered a separate agency commission.

With other investments, such as Municipal, Corporate, Brokered Certificates of Deposit, US Government Treasury or Agency

bonds, this fee might be part of the price you pay for the investment (called a “mark-up” ) or the amount on a sale of such

investments (a “mark-down”). With Unit investment Trusts the purchase price includes a sales charge included in the offering

price. Mutual funds offer selling brokers a commission. This commission can be in the form of a front-end sales charge or a

level load commission. A front-end sales charge is added to the fund’s net asset value or public offering price. A level load

commission is paid out of higher annual expenses of the mutual fund invested in and is included in the net asset value.

• Class A shares may appeal to you if you're considering a long-term investment. When you purchase class A shares, a sales

charge, called a front-end load, is typically deducted upfront, thus reducing the actual amount of your initial investment. For

example, suppose if you decide to invest $35,000 in class A shares with a hypothetical front-end sales load of 5.0 percent. You

will be charged $1,750 on your purchase, and the remaining $33,250 will be invested. However, class A shares offer you

discounts called breakpoints, on the front-end load if you buy shares in excess of a certain dollar amount. Typically, a fund will

offer several breakpoints, so the more you invest the greater the reduction in the sales load. For example, let's say that a mutual

fund charges a load of 5.0 percent if you invest less than $50,000, but reduces that load to 4.50 percent if you invest at least

$50,000 but less than $100,000. This means that if you invest $49,000, you'll pay $2,450 in sales charges, but if you invest

$50,000 (i.e., you reach the first breakpoint), you'll pay only $2,250 in sales charges. You may also qualify for breakpoint

discounts by signing a letter of intent and agreeing to purchase additional shares within a certain period of time (generally 13

months), or by combining your current purchase with other investment holdings that you or your spouse and children have within




the same fund or family of funds (called a right of accumulation). Since rules vary, read your fund's prospectus to find out how

you may qualify for available breakpoint discounts, or contact your financial consultant for more information. Class A shares

tend to have lower total annual expenses due to lower 12b-1 fees than either C share or even B share mutual funds, thus reducing

your overall costs over time. This may make class A shares more attractive to you if you wish to hold on to the fund for a longer

period of time.

• Class B shares: When you purchase class B shares you are putting 100% of your investment to work immediately since there is

no front-end sales charge as in the A shares, however there might be significantly higher costs associated with this share class.

The first cost to note is the higher annual ongoing 12b-1 expenses. The second concern with this share class is the Contingent

Deferred Sales Charge (CDSC). Most B share mutual funds have a 7-year holding period before the expiration of any CDSC

which can be as high as 6.0 percent. If you were to redeem shares prior to the end of the stated CDSC period, you would be

subject to a fee imposed by the fund. In many cases B share mutual funds convert to the lower annual expense class A shares

after the expiration of the CDSC. In essence B shares lock your money up for a 7-year period (some mutual funds have different

CDSC periods.) This share class may be more suitable for investors who typically hold their investment positions for 7 or more

years and do not qualify for a breakpoint.

• Class C shares: When you purchase class C shares, a front-end load is normally not imposed. There is a CDSC charge, typically

1.0 percent, that is reduced to zero if you hold the shares beyond the CDSC period, which for class C shares is typically 12

months. For those reasons class C shares may be appropriate if you intend to keep the fund for less than 5 years. The 12b-1 fees

are greater for class C shares than for class A shares. The total expenses of a C share class mutual fund will not decrease during

the life of the investment, because C class shares generally don't convert to class A shares ( there are a few fund families that

automatically convert C shares into A shares after an extended holding period). In addition, there are no breakpoints available

for large purchases. Because of the higher annual expenses C shares may be suitable if you are planning on holding the

investment for less than 7 years or if you do not want to pay an upfront sales charge on your investment as you would with an A

share. In most instances a C share is more suitable than B shares. A shares maybe more suitable than C shares if you know you

are going to have a long term holding period of your mutual purchase.

• For your convenience we offer a link through our website, www.lmkohnandco.com, where you can click “Investor Resources”,

then “Other Resources” and then click on FINRA Mutual Fund Fee Analyzer where you can compare the differing expenses and

holding periods of different shares classes of the same mutual fund. You may also go directly to FINRA’s website,

www.finra.org and select Tools & Calculators or go to https://tools.finra.org/fund_analyzer/ where you can do the same

comparisons.

• Some investments (such as mutual funds and variable annuities) impose additional fees that will reduce the value of your

investment over time. Also, with certain investments such as variable annuities, you may have to pay fees such as “surrender

charges” to sell the investment.

• Our fees may vary. The amount you pay will depend, for example, on how much you buy or sell, what type of investment you

buy or sell, and what kind of account you have with us.

• Our clearing firm RBC Correspondent Services LLC may charge you additional fees, such as custodian fees, account

maintenance fees, and account inactivity fees.

• The more transactions in your account, the more fees we charge you. We therefore have an incentive to encourage you to engage

in transactions.

• From a cost perspective, you may prefer a transaction‐based fee if you do not trade often or if you plan to buy and hold

investments for longer periods of time.

https://tools.finra.org/fund_analyzer/




The following is a list of our RBC Correspondent Services Schedule “B” Equities and Options commissions:

Equities

STOCKS PRICED UNDER $1

Principal in trade Commission

$0 but less than $1,000 5% of Principal*

$1,000 but less than $10,000 5% of Principal*

$10,000 and above 5% of Principal*

See Note 1

STOCKS PRICED $1 AND ABOVE/100 SHARE ROUND LOT AND ODD LOTS

Principal in trade Commission Odd Lot Subtract $0 but less than $800 3.089% of Principal + $14.52 $3.09

$800 but less than $2,500 2.008% of Principal + $24.71 $3.09

$2,500 but less than $5,000 1.390% of Principal + $40.15 $3.09

$5,000 and above 1.453% of Principal + $41.98 $3.23 See Note 1

STOCKS PRICED ABOVE $1 MULTIPLE ROUND LOTS

Principal in trade Commission Plus 1-10 Round

Lot

11 & Above $0 but less than $2,500 2.008% of Principal + $26.25 $9.27 $6.18

$2,500 but less than $5,000 1.390% of Principal + $41.70 $9.27 $6.18


$20,000 but less than 30,000 0.969% of Principal + $142.09 $9.69 $6.46

$30,000 and above 0.646% of Principal + $229.27 $9.69 $6.46 See Note 1




Options

OPTIONS PRICED UNDER $1


$0 but less than $1,000 5% of Principal

$1,000 but less than $10,000 5% of Principal

$10,000 and above 5% of Principal

See Note 1

OPTIONS PRICED $1 AND ABOVE


$0 but less than $800 3.089% of Principal + $9.88

$800 but less than $2,500 2.008% of Principal + $18.53

$2,500 but less than $5,000 1.3090% of Principal + $33.98

$5,000 and above 1.453% of Principal + $35.52

See Notes 1 & 2

MULTIPLE OPTIONS PRICED ABOVE $1

Principal in trade Commission Plus 1-10 Round Lot 11 & Above $0 but less than $2,500 2.008% of Principal + $18.53 $9.27 $6.18




$30,000 and above 0.646% of Principal + $229.27 $9.69 $6.46

See Notes 1 & 2

Note 1: Minimum charges: $50 Note 2: Maximum charges < $5000: -$96.52 per option Maximum

charges > $5000 - $101.91 per option * 5% of Principle or the schedule minimum (Ex: $50), whichever is greater

• Minimums (including 5% "rule") are calculated before discounts are applied

• If correspondent minimum is higher than 5% "rule" $50 minimum, where applicable, will override

• Commissions on sells cannot result in the Net Amount being less than zero and will be adjusted accordingly

• 5% "rule" applies to all executions in an order - total commission across all executions (odd-lots included) cannot exceed 5% or applicable Minimum and are applied to each execution based on a principal amount pro- rate

• Commission for each execution is calculated according to the applicable Tier for that execution.




For Fixed Income Transactions (CDs, US Government Agency, Corporate or Municipal bonds)

The minimum charge is $25 per transaction. For new issue securities (primary market), in syndicate, the markup is predetermined

by the underwriter and the issuer. These commission mark ups are stated in the prospectus or official statement. For principal

transactions in the secondary market where the commission is “marked up” or “marked down” from the base price, in no instance

will the mark up or mark down exceed 4% of the principal transaction.

For agency transactions in fixed income securities commission charges will be no higher than $30.00 per bond.

For pricing history and volume information for taxable fixed income securities investors may look up the FINRA website:

www.finra-markets.morningstar.com/MarketData/Default.jsp?sdkVersion=2.52.0

For pricing and volume history for municipal bonds investors can go to the MSRB website: www.emma.msrb.org

For Unit Investment Trusts (UITs) Transactions

These investment products are sold by prospectus and have a sales charge that investors pay which is included in the public

offering price. UITs are intended to be bought and held to maturity, they are not well suited as a trading vehicle. The UIT sponsor

determines the sales charge paid by investors at the public offering price. Reduced sales charges are breakpoint eligible, meaning

the more money that is invested at predetermined investment levels the sales charge may be lowered by the sponsor (not our firm

nor our registered representative)are available on the reinvestment of a UIT in a new UIT by the same sponsor. For more

information on UITs you may go to the website: https://www.investor.gov/introduction-investing/investing-basics/glossary/unit-

investment-trusts-uits

Additional Note

For any investment not sold by prospectus, the firm has authorized your registered representative to offer discounts on

commissions charged. Such discounts could be determined based on the frequency of investment activity, the size of the

transactions, the overall relationship with the customer, potential new business from the customer as well as competitive pricing

based on the competition in the full service brokerage segment. Your registered representative also has the ability to charge a

fixed dollar commission on trades, which may or may not depend on the size of the transaction.

Client Fee Listing

On the next page is a list of fees that may be charged to your account(s) with L.M. Kohn & Company that are custodied at RBC

Correspondent Services, a division of RBC Capital Markets, LLC (RBC CS). The list of fees does not include customer handling,

commissions or any other trade related fee as those fees are disclosed on each trade confirmation. With the exception of fees that are

“pass through”, “at cost”, “prorated”, “interest charged”, or that provide a range as a guideline, the fee listed is the highest amount

that will be charged for the service provided. Fees may change at any time as permitted by applicable regulations and the terms of the

clearing agreement between L.M. Kohn & Company and RBC CS.

http://www.finra-markets.morningstar.com/MarketData/Default.jsp?sdkVersion=2.52.0

http://www.emma.msrb.org/

https://www.investor.gov/introduction-investing/investing-basics/glossary/unit-investment-trusts-uits

https://www.investor.gov/introduction-investing/investing-basics/glossary/unit-investment-trusts-uits




Fee Name Total Fee Amount Fee Name Total Fee Amount

Account Pledge $200.00 Outgoing IRA ACAT Fee $120.00 Alternative Investment– Transaction fee $200.00 Outgoing Non‐IRA ACAT Fee $185.00 Alternative Investments– Maintenance fee $100.00 Overnight Check $10.00 American Depository Receipt (ADR) Pass Through Fee1

Pass through1

Partial Transfer $25.00 per transfer

Annual Account Fee $50.00 Physical Certificate Reject Fee $200.00 Automated Clearing House (ACH) Stop Payment Fee

$20.00 Physical Certificate (Non‐DRS Eligible and DRS Eligible Securities) $650.00

Bank Wire – Domestic $10.00 Prepayment Fee Interest Charged6 Bank Wire – Foreign $75.00 Retirement – 403(b) Account Fee $35.00

Cashless Stock Option Exercise Please refer to the

Employee Stock Option Exercise Form

Retirement – Custodial Qualified retirement closing fee $50.00 + Prorated Annual Fee

Direct Registration System (DRS) Transfer Fee

(Incoming)

$25.00 Retirement – Custodial Qualified retirement plan annual fee $75.00 per employee account + $5.00 per

additional participant Direct Registration System (DRS) Transfer Fee (Outgoing)

$25.00 Retirement – Custodial Qualified retirement plan set up fee $25.00 per employee account + $5.00 per

additional participant Dividends & Reorgs – Coupons Received for Collection (per shell or issue)

$10.00 Retirement – IRA Annual Account Fee $35.00

Dividends & Reorgs – Charge for Late Instructions on Expiring Items

$15.00 Retirement – IRA Account Closing Fee $120.00

Duplicate Tax Documents (Paper copies) $2.50 Retirement – Self‐trusteed plan annual fee (one plan / paired plan)

$150.00 / $250.00

Duplicate Confirm (Paper copies) $2.50 Retirement – Self‐trusteed plan closing fee (one plan & paired plan)

Prorated Annual Fee

Duplicate Statement (Paper copies) $2.50 Retirement – Self‐trusteed plan set up fee (one plan / paired plan)

$200.00 / $300.00

Deposit / Withdrawal at Custodian (DWAC) Fee Ranges from $25.00 to $150.002

Returned Check $35.00

Escheatment $125.00 Rule 144 / Restricted Stock Deposit Fee $25.00 Extensions $20.00 Safekeeping Fee $50.00

Globe Tax Basic Services 3% of recovered withheld

tax; maximum of $200 per occurrence3

Security Transfer Fee – International $190.00

Investment Access Account Related Fees Please refer to the

Investment Access Account Agreement4

Transfer Agent Fees At Cost

Investment Access Annual Account Fee $125.005

Transfer on Death Account Change Fee $30.00 Legal Deposit / Transfer $60.00 Transfer on Death Account Distribution Fee 0.10% Non‐Sufficient Funds (NSF) Fee $30.00 Transfer on Death Account Set‐Up Fee $50.00 Non‐Transferable Security Custody $2.00 per position, per

month

Voluntary Non‐Physical Reorg $15.00

Voluntary Physical Reorg $30.00

Notes: 1) ADR pass through fees are outlined in the ADR prospectus. 2) DWAC is determined by the transfer agent, but typically ranges from $25.00 to $150.00. 3) Clients who hold or purchase Canadian, Irish, or Japanese securities are automatically enrolled in this service.

Clients may opt‐out at any time by contacting their Financial Professional. Global Tax Full Services are also

available at an additional cost. Please contact your Financial Professional if you would like to opt‐out or sign up for

Global Tax Full Services. Fees & jurisdictions covered are subject to change at any time. 4) The Investment Access Account application contains a fee schedule that outlines fees related to an Investment Access Account

(checking related fees, wire transfer and ACH fees, and VISA gold check card fees). 5) The annual fee is waived for accounts over $200,000. 6) The calculation to determine the interest is: $25.00 + (Actual Prepay Amount x Interest Rate x (Days to Settlement) / 360

days)). The interest rate is equal to RBC’s Base Lending Rate plus a sliding scale of percentages according to the size of the

actual prepay amount. Please contact your Financial Professional for RBC’s Base Lending Rate.

RBC Correspondent Services, a division of RBC Capital Markets, LLC, Member NYSE/FINRA/SIPC




Broker-Dealer Services

Brokerage Accounts

Conflicts of Interest. We benefit from the services we provide to you.

• We can make money from transaction fees being charged; therefore, the firm may have an incentive to encourage you to trade

more frequently.

• We may have an incentive, when charging commissions, to offer products that may have commissions or front-end sales charges

or higher ongoing trail commissions (12b-1 fees) that cost more and therefore result in you being charged more.

• We may receive trailing or ongoing commissions (12-b1 fees) by selling certain products such as mutual funds and variable

annuities; therefore, we may have an incentive to sell these products over other potentially more suitable products.

• We may have a conflict of interest in recommending a sale of a mutual fund share class prior to it converting to a lower expense

share class in the same mutual fund family.

• We may have a conflict of interest recommending that you sell out of an investment before it matures to make a new investment

with those same funds.

• We may have a conflict of interest in recommending 1035 exchanges on an annuity product once it has gone out of its surrender

period.

• We may have a conflict of interest in recommending multiple mutual funds from different mutual fund families; therefore, not

taking full advantage of reduced sales charges through breakpoints.

• We may have a conflict of interest in recommending that you sell securities for “tax loss” harvesting before there are any capital

gains to offset

Broker‐Dealer Services

Brokerage Accounts

Additional Information. We encourage you to seek out additional information.

• We have legal and disciplinary events. Visit investor.gov for a free and simple search tool to research our firm and our

financial professionals.

• For additional information about our brokers and services, you can visit the following sites: investor.gov; brokercheck.finra.org; and/or lmkohnandco.com.

• To report a problem to the SEC, visit Investor.gov or call the SEC’s toll‐free investor assistance line at (800) 732‐0330. To

report a problem to FINRA, contact them at (301) 869-6699. If you have a problem with your investments, account or

financial professional, contact us at (800) 478-0788.

Key Questions to Ask. Ask our financial professionals these key questions about our investment services and accounts.

1. Given my financial situation, why should I choose a brokerage account?

2. Do the math for me. How much would I expect to pay per year for a typical brokerage account? What would make those fees

more or less? What services will I receive for those fees?

3. What additional costs should I expect in connection with my account?

4. Tell me how you and your firm make money in connection with my account. Do you or your firm receive any payments from

anyone besides me in connection with my investments?

5. What are the most common conflicts of interest in your brokerage accounts? Explain how you will address those conflicts when

providing services to my account.

6. How will you choose investments to recommend for my account?

7. How often will you monitor my account’s performance and offer investment advice?

8. Do you or your firm have a disciplinary history? For what type of conduct?

9. What is your relevant experience, including your licenses, education, and other qualifications? Please explain what the

abbreviations in your licenses are and what they mean.

10. Who is the primary contact person for my account? What can you tell me about his or her legal obligations to me? If I have

concerns about how this person is treating me, who can I talk to?

http://www.investor.gov/

http://investor.gov/

https://brokercheck.finra.org/

http://www.lmkohn.com/


FACTS

WHAT DOES L.M. KOHN & COMPANY DO WITH YOUR PERSONAL INFORMATION?

Why?

Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. You are receiving this privacy notice because you are a client of L.M. Kohn & Company. The Gramm-Leach-Bliley Act of 1999 requires each member of the financial services industry to communicate its policy to consumers at the time of establishing a customer relationship. Furthermore, the act requires annual notification to all customers.

What?

The types of personal information we collect and share depend on the product or service you have with us. The information we collect comes primarily from answers given to us by you. This includes such information as your name, address and Social

Security number that you have provided on applications, agreements or other forms. In addition, we maintain records of each of your

transactions and holdings.

How?

To whom we disclose the information & the reasons we can share this information All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons L.M. Kohn & Company chooses to share; and whether you can limit this sharing.

Reasons we can share your personal information

Does L.M.

Kohn &

Company

share?

Can you limit this sharing?

For our everyday business purposes — such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus

To other companies as necessary to process your business. For example, we transmit your personal information to investment companies and insurance companies. Third parties in this category, like those in the category above, must limit their use of the information to the purpose for which it was provided.

Where required by law or regulation.

Examples include responses to a subpoena, court order or regulatory demand, and as part of the Anti-Money Laundering Provisions as detailed in the U.S. Patriot Act.

YES

NO

For our marketing purposes —

to offer our products and services to you

NO

We do not share

For joint marketing with other financial companies —

To companies with whom we have joint marketing agreements. A joint marketing agreement is one in which another financial institution offers a product or service jointly with L.M. Kohn & Company, such as RBC Correspondent Services, a division of RBC Capital Markets, LLC, Member NYSE/FINRA/SIPC our clearing firm for trade executions and reporting of assets, TD Ameritrade for custody services and investment companies such as but not limited to SEI and CLS.

YES

NO

For our affiliates' everyday business purposes —

information about your transactions and experiences

YES

NO

For our affiliates' everyday business purposes — information about your creditworthiness

NO

We do not share

For our affiliates to market to you

NO

We do not share

For non-affiliates to market to you

NO

We do not share


Sharing

Policy ■ Call (800) 478-0788 and our menu will prompt you through your choice(s).

■ Visit us online: www.lmkohnandco.com

Please note:

If you are a new customer, we can begin sharing your information immediately only with companies where your assets are held from the date you open an account. When you are no longer our customer, we continue to share your information as described in this notice.

You can contact us at any time to discuss our sharing policy.

Questions? Call (800) 478-0788 or go to www.lmkohnandco.com

Who we are

Who is providing this notice?

L.M. Kohn & Company, as an independent securities broker-dealer, is committed to safeguarding the confidential information of its clients. Respect for our customers’ privacy has long been highly valued at L.M. Kohn & Company. Not only is it what our customers expect, it’s the right way to conduct our business. Our privacy promise derives from basic principles of trust, ethics and integrity.

What we do

How does L.M. Kohn & Company

protect my personal information?

To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.

How does L.M. Kohn & Company

collect my personal information?

The information we collect comes primarily from answers given to us by you. This includes such information as your name, address and Social Security number that you have provided on applications, agreements or other forms. In addition, we maintain records of each of your transactions and holdings.

Why can't I limit all sharing? Federal law gives you the right to limit only:

■ sharing for affiliates' everyday business purposes - information about your creditworthiness

■ affiliates from using your information to market to you for marketing

■ sharing for non-affiliates to market to you – We do not share information for marketing

State laws and individual companies may give you additional rights to

limit sharing. [See below for more on your rights under state law.]

For California residents, we will limit the sharing of your nonpublic personal information with other

RBC companies to the extent required by applicable California privacy laws.

What happens when I limit sharing

for an account I hold jointly with

someone else?

Your choices will apply to everyone on your account.




Definitions Affiliates • Companies related by common ownership or control. They can be

financial and nonfinancial companies.

Non-affiliates • Companies not related by common ownership or control. They can be

financial and nonfinancial companies. We only share with Non-LMK affiliates upon your request as authorized by you. You may direct us, for example, to send your account statements and trade confirmations to a third party. You may direct us to provide information to other trusted

advisors such as an attorney or CPA.

Joint marketing ■ A formal agreement between nonaffiliated financial companies that

together market financial products or services to you.

■ We need to share with print and mail Companies to send communications

Other important information Form CRS – The goal of Form CRS (Customer Relationship Summary) is to inform retail investors about several important topics so they can compare firms that offer the same or substantially similar service. This document states the relationships and services a firm offers, fees and costs a retail investor will pay, a firm’s disciplinary history, and how to obtain additional information about the firm. The most recent update of Form CRS can be found on our website at www.lmkohnandco.com. Additional Disclosure Document – In addition to disclosures made at the time of recommendation, we have our additional disclosure document available on our website at www.lmkohnandco.com. This document supplements any disclosures made at the time of recommendation and gives further details on material facts related to a product or recommendation. Proxy Notices. L.M. Kohn & Company does not vote proxies on behalf of clients. All proxy material is forwarded to our clients by our clearing firm RBC Correspondent Services.

Governing Bodies. Please note that you may contact the Financial Industries Regulation Authority (FINRA) at www.FINRA.org, or the Securities Investor Protection Program (SIPC) at www.SIPC.com or (202) 371-8300.

EMMA Website for Municipal Bonds - you may now find official statements, continuing disclosure of “material events” with respect to any municipal bond issue, as well as other information about bonds you may have purchased. Log on to www.emma.msrb.org and enter the CUSIP number of the municipal bonds you may purchase.

FINRA BrokerCheck Tool – BrokerCheck is a free tool to help investors research the professional backgrounds on current and former

FINRA-registered brokerage firms and brokers. You may access FINRA BrokerCheck through the www.finra.org website at brokercheck.finra.org or by calling FINRA toll free at (800) 289-9999.

Securities Investor Protection Corporation (“SIPC”). - SIPC is the first line of defense in the event a brokerage firm fails owing customer’s cash and securities that are missing from customer accounts. SIPC protection does not cover a decline in the value of your assets due to market loss. You may obtain information about SIPC, including the SIPC brochure by accessing SIPC’s website at: www.sipc.org or by calling: (202) 371-8300.

Business Continuity Plan – L.M. Kohn & Company (the “Firm”) is committed to protecting our employees, clients and their assets at all times, including in times of emergency. As part of this commitment, and in compliance with internal management policy and industry regulations (FINRA, NFA, et al), the Firm maintains a business continuity plan (the Plan). The Plan provides for sustainable operating environments during any crisis/incident or major business interruption that adversely impacts the Firm’s ability to conduct business. The Plan addresses various scenarios including but not limited to a departmental disruption, building, city-wide or regional disruption, or a pandemic incident. Because the Plan contains details of a confidential and proprietary nature, it is not distributed to the public.

Client account information sent by email

We will send client account information securely through a system called ShareFile, a Citrix based system that requires the

recipient to enter information to verify that they are the correct recipient of the information.

Client personal information stored in third party cloud or web-based systems

L.M. Kohn & Company (the “Firm”) does not use a centralized network outside of the home office. Each branch office or associated person may hire third party

vendors to manage client data which may include personal identifying information and account information. In the event that a branch office or associated person

terminates or is terminated from the Firm, then the Firm will make an immediate effort to remove access privileges from networks and systems containing access to

sensitive client data. The Firm requires that associated persons disclose the use of third party vendors including Customer Relationship Management (CRM)

systems that might house some of this data. Although these systems are purchased independently from the Firm, the Firm maintains administrator access with CRM

systems utilized by associated persons. This allows the ability to shut off access to these systems in the event an associated person is terminated. However, it is

possible for a gap in timing to occur which allows an associated person to have access to these systems after they have been terminated. This means that a

terminated associated person(s) could download or export sensitive client data either shortly before they terminate from the Firm, or shortly after they have been

terminated from the Firm. The Firm makes every effort to remove access in a timely manner, and the removal of data belonging to the Firm is strictly prohibited.

The Firm will take all necessary precautions to try and prevent sensitive information and client account information from being extracted outside of networks

controlled by the Firm.





http://www.emma.msrb.org/


http://www.sipc.org/