THE  FINANCIAL  ADVISORY  GROUP

--- MONEY  MANAGEMENT  AGREEMENT ---

This agreement is entered between James O. Davis, DBA The Financial Advisory Group, a duly registered investment advisor, whose principal office is located at 299 Arguello Boulevard, Suite #306, San Francisco, CA  94118 ("Advisor") and______________________________________________________________________ ("Client") this the _______ day of ________________ , 20____.  In consideration of the mutual benefits to be derived from this agreement, it is understood and agreed as follows:

SERVICES

Advisor shall provide the Client the investment management services indicated below:

                The client retains Advisor to act as manager of Client's Account in the investment and reinvestment of such assets.  Advisor will have:

                _____ Non Discretionary Authority, Advisor will consult with client prior to executing transactions.

                _____ Limited Discretionary Authority to execute transactions in no-load mutual funds, load mutual funds at net asset value, and life variable annuity sub-account allocations as it deems appropriate  This responsibility commences upon notification that cash and/or securities have been received by the Custodian and/or Broker/Dealer (if applicable) where the account will be domiciled, and following completion of all necessary documentation, including a limited power of attorney (Limited Trading Authorization), authorizing such trading in the Client's Account.  Advisor does not act as custodian for Client's Account or have possession of any cash or securities of Client.

                When the Client retains Advisor for asset management services Advisor will implement transactions in Advisor’s separate capacity as a registered representative, as such Advisor will use the broker/dealer and/or custodian with which Advisor is affiliated or those which Advisor are allowed to use as a result of Advisor’s broker/dealer affiliation.  Client understands that Advisor gives advice to many clients, and that the advice given one client may differ from that given other clients.  Advisor has no obligation to acquire for Client's Account any particular security which Advisor, its principals or employees may acquire for its or their own accounts, if in the sole discretion of Advisor it is not in the Client's best interest.  Advisor shall not be liable for any loss or damage arising out or based upon any act or omission by it, other than gross negligence or intentional misconduct.  Advisor shall not be held responsible for any act or omission of any Custodian and/or Broker/Dealer and is not responsible for any fees or charges imposed upon the Account by the Custodian and/or Broker/Dealer where the account resides.

INVESTMENT  OBJECTIVES,  RESTRICTIONS  AND  IMPLEMENTATION

Client is responsible to advise Advisor in writing of the investment objectives of the Account, and of any changes or modifications.  Client will notify Advisor immediately , in writing , if any investments made for the Account are in violation of such objectives.  Unless Client notifies Advisor in writing of the investment objectives of the Account, and of any changes or modifications.  Unless Client notifies Advisor in writing of specific restrictions on the Account, the Account shall not be restricted under current or future laws of any state or by virtue of any other contract of instrument purporting to bind Client or Advisor.

It is understood by Client that the Representative of Advisor is also, in a separate capacity, a registered representative with Centaurus Financial, Inc., a registered Securities Broker/Dealer, member NASD and SIPC, and may execute securities transactions for Client's Account, and receive the usual and customary commission on investments.  The associated person shall disclose any fees or commissions as required by existing federal and state securities laws and regulations. Advisor will use its best efforts to render the agreed services in good faith.  Nothing in this Agreement limits or restricts Advisor, its principals' or employees' right to engage in any business or to render services of any kind, similar hereto or otherwise, to any corporation, partnership, trust, association, individual or other entity.  Advisor will at all times be deemed an independent contractor, and not Client's employee or agent.

CLIENT  REPRESENTATIONS

Client represents and warrants the following:  (a)  That he/she has full authority to engage Advisor under this agreement; (b)  That he/she is the owner of all cash and securities in the Account, and there are no restrictions on the transfer, sale and/or public distribution of such cash or securities; (c)  at he/she is aware of the risks involved in investing, including the risk that his Account could suffer a substantial deterioration in value; (d)  That he/she understand that investment success or failure cannot be measured on a short-term basis; (e)  The terms of this Agreement do not violate any obligation to which the Client is bound, and, if Client is a corporation, partnership, trust, association or other entity, that this Agreement has been duly authorized by appropriate action.  If so requested, Client will deliver to Advisor such evidence of authority as Advisor shall reasonably  require.

COMPENSATION  &  ASSIGNMENT

The fees for Advisor's services under this Agreement are attached as Exhibit A, and incorporated herein by reference.  Client hereby authorizes Advisor to charge said fees, as well as all brokerage fees and expenses, to its accounts.  This Agreement may only be amended by mutual written consent; Advisor may amend the Schedule of Fees attached hereto as Exhibit A, upon 60 days written notice to Client.  No assignment (as that term is defined in the Investment Advisers Act of 1940) of this Agreement shall be effective without written consent of the Client.

REPORTING  AND  COMMUNICATIONS

Client will be provided with quarterly account statements from Advisor, in addition to confirmations of account activity from the Custodian and/or Broker/Dealer where the Account resides.  All notices and other communications contemplated by this Agreement shall be deemed duly given in writing and placed in the U.S. mail to Client's address of record.  It is understood by Client that the Advisor and its employees and representatives will not render any legal or accounting advice nor prepare any legal or accounting documents.

TERMINATION,  GOVERNING  LAW,  ARBITRATION,  ACKNOWLEDGMENTS

This agreement may be terminated at any time by written notice by either party, in addition Client may terminate this Agreement without penalty within five business days of executing the Agreement.  Upon termination, any unearned advance fees paid to Advisor will be returned to Client on a prorata basis.  Advisor will perform its services under this Agreement in accordance wit all applicable Federal and State laws and administrative regulations.  This Agreement shall be governed and construed in accordance with the laws of the State of California.  Any controversy arising out of this Agreement will be settled by arbitration in accordance with the rules of the American Arbitration Association then in effect.  The arbitration shall be held in San Francisco, California.  This arbitration clause shall not be effective to the extent it violates any provision of the federal securities laws.  Client acknowledges receipt of a copy of Advisor's Form ADV Part II.  Client represents that he/she understands the matters set forth in such Form ADV Part II.  Client acknowledges that Centaurus Financial Inc. (SAI) and its registered investment advisor affiliate, Centaurus Financial Advisors (SAA), are in no way affiliated with the Advisor.  Any advice or action taken pursuant to this financial advisory agreement is strictly the responsibility of the Advisor as the investment advisor and not the responsibility or obligation of SAI or SAA.

Executed this the _______________ day of ________________________ , 20____ .

 Client(s):  _____________________________________  Advisor:  THE  FINANCIAL  ADVISORY  GROUP

                 _____________________________________            By:   __________________________________________

                                                                                                                            __________________________________________

MNY-MNGT.DOC  (011000)

THE  FINANCIAL  ADVISORY  GROUP

--- MONEY  MANAGEMENT  AGREEMENT ---

--- FEE  SCHEDULE ---

NOTE:  Upon execution of the "Authorization to Pay Fees to The Financial Advisory Group"              form, the investment management fee will be deducted from the account by the

   custodian and paid to The Financial Advisory Group.  At no time will The

   Financial Advisory Group act as custodian of any client account.

You will be notified at least sixty (60) days in advance of the effective date of any

   amendment to the above fee schedule.

ACCEPTED:

                        Client Signature:  __________________________________________

                        Client Signature:  __________________________________________

                                        Date:  ________________________  ___ ,  20____

MNY-MNGT.DOC  (011000)

THE  FINANCIAL  ADVISORY  GROUP

--- MONEY  MANAGEMENT  AGREEMENT ---

--- LIMITED  TRADING  AUTHORIZATION ---

I/We hereby authorize The Financial Advisory Group ("Advisor") to by my/our agent and attorney-in-fact for my/our Custodial and /or Brokerage Account (the "Account"), and in that capacity to place orders, in its sole discretion and without my/our prior consultation, to make purchases, sales, exchanges, conversions and traders in connection with my account.  This agreement is limited to trades involving no-load funds, load funds at NAV and/or exchanges in variable annuity and variable life sub-accounts.

I/We hereby agree to indemnify and hold Advisor harmless from all loss, cost, indebtedness and liabilities, including attorneys' fees, arising therefrom, except for gross negligence and intentional misconduct.

I/We understand that I/we may revoke this authorization at any time by giving notice to Advisor.

AUTHORIZATION  TO  PAY  FEES  TO

THE  FINANCIAL  ADVISORY  GROUP

I/We hereby authorize the account custodian to deduct the computed quarterly investment management fees directly from my/our Account.  I/We understand that I/we may revoke this authorization at any time by giving written notice to Advisor.

ACCEPTED:

                        Client Signature:  __________________________________________

                        Client Signature:  __________________________________________

                                        Date:  ________________________  ___ ,  20____