Allegheny offers asset management, portfolio management and financial planning services to clients. Allegheny is an SEC registered investment adviser. Allegheny is principally owned by its employee advisers. Allegheny Financial Group was founded in 1976 by James D. Hohman and James J. Browne to provide comprehensive financial planning to clients in the Greater Pittsburgh area. Messrs. Browne and Hohman began attracting like-minded professionals, intent on providing exceptional financial planning services to their clients. In 1977, Messrs. Hohman and Browne founded Allegheny Investments, LTD (“AI”), an affiliated dually registered investment adviser and broker dealer, to provide brokerage services for Allegheny clients. Allegheny Investments, LTD is a member of the Financial Industry Regulatory Authority “FINRA”, the Securities Investor Protection Corporation “SIPC”, and the Municipal Securities Rulemaking Board “MSRB”. Allegheny provides the following investment advisory and financial planning services. Advisory services are tailored to the individual needs of the client. Clients have the right to impose restrictions on investments in certain securities, or certain types of investments. Allegheny provides investment management services on both a discretionary and non-discretionary basis (see item 16 for more detail) Investment Management Allegheny provides comprehensive investment management services. Clients selecting this service are charged a portfolio management fee, described below. Allegheny provide continuous advice to a client regarding the investment of client funds based on the individual needs of the client. Through personal discussions in which goals and objectives based on a client's particular circumstances are established, we develop a client's personal investment strategy and create and manage a portfolio based on that strategy. During our data gathering process, we determine the client’s individual objectives, time horizons, risk tolerance and liquidity needs. As appropriate, we also review and discuss a client's prior investment history, as well as family composition and background. Clients will receive reports reflecting the value and status of their uniquely designed portfolio. Selecting fund managers is a large part of our service as an advisory firm. Allegheny uses original and proprietary investment research conducted by the firm’s research department and investment committee. We manage advisory accounts on a discretionary or non-discretionary basis. Clients may impose reasonable restrictions on investing in certain securities, types of securities, or industry sectors. Account supervision is guided by the client's stated goals, objectives, risk tolerance, as well as tax considerations. In cases where the Client has selected non-discretionary management, the implementation of any or all recommendations is solely at the discretion of the Client. Allegheny will work with the client to create a client profile based on the client’s investment objectives and situation. Recommendations in mutual funds, stocks, bonds or other assets of any kind will be consistent with the client’s investment objectives and restrictions set forth in the client profile and implementation of those recommendations will be on direction from the client. Additionally, clients may place unsolicited trades in their account. Clients receiving these services participate in Allegheny’s Wrap Fee Program for which Allegheny receives a fee. See the Allegheny Wrap Fee Brochure for additional details. Financial Planning and Other Services Allegheny develops individualized investment plans for a client based upon an analysis of client objectives, risk tolerance, time frame and other data. Non-discretionary account services also include financial planning, investment fiduciary consulting, retirement plan consulting, and IRA rollovers. Clients that select a financial planning or non-discretionary management service are not obligated to engage us when implementing advisory recommendations. Using a team approach and in conjunction with other professionals, Allegheny is qualified to provide assistance and advice concerning:
• Business purchase or disposition
• Business continuation planning
• Succession planning and legacy planning
• Business valuations
• Business financing
• Retirement Planning IRA Rollovers As part of the retirement and/or financial planning process and when it is suitable for the client, Allegheny Advisors recommend rollovers to an IRA. Clients, and prospective clients, considering a rollover from a qualified employer sponsored retirement plan (“Employer Retirement Plan”) to an Individual Retirement Account (“IRA”) are encouraged to consider the advantages and disadvantages of an IRA rollover from their existing Employer Retirement Plan. A plan participant leaving an employer typically has four options (and can engage in a combination of these options): 1) Leave the money in the former Employer Retirement Plan, if permitted; 2) Transfer the assets to the new employer’s

plan, if one is available and if rollovers are permitted; 3) Rollover the assets to an IRA; 4) Cash out (or distribute) the assets and pay the taxes due. Regulatory authorities have advised investors that they have the potential to face increased fees when they transfer retirement savings from their current Employer Retirement Plan to an IRA. The regulators have advised investors that even if there are no costs associated with the IRA rollover itself, there will be costs associated with account administration, investment management or both. In addition to the fees charged by Allegheny, the underlying investments (mutual fund, ETF, annuity, or other investment) typically also charge management fees. Custodial fees also apply. Investing in an IRA managed by Allegheny has the potential to be more expensive than the current Employer Retirement Plan. Prior to electing to rollover assets from the current Employer Retirement Plan to an IRA an investor should consider:
• The type of account investment management desired. For example, is assistance in the management of investments desired on a discretionary or non-discretionary basis; or is a self-managed account preferred.
• Available investment choices.
• The professional assistance available to participants in the current Employer Retirement Plan when compared to the advisory services offered by Allegheny in an advised IRA account.
• The cost of advisory fees.
• Management expenses associated with the underlying investments in an IRA advisory account vs. the underlying investment expenses associated with the current Employer Retirement Plan. Often, the management expenses in the current Employer Retirement Plan are less expensive than in a rollover IRA advisory account.
• Custodial charges in the advised IRA account vs. the current Employer Retirement Plan.
• Transaction charges associated with the advised IRA vs. the current Employer Retirement Plan.
• The rules pertaining to the required minimum distributions (“RMD”) in the current Employer Retirement Plan when compared to the advised IRA.
• Legal protections afforded to current Employer Retirement Plan participants and to rollover IRA account owners. Employer Retirement Plans have significant liability protection.
• The rules pertaining to beneficiaries of an IRA vs. the current Employer Retirement Plan (inherited accounts).
• The loan provision associated with the current Employer Retirement Plan, if any. IRA accounts do not have loan provisions.
• Employer Retirement Plans that are available from a new employer. You are encouraged to consult with a CPA, tax adviser, the plan administrator and/or legal counsel prior to rolling over assets from the current Employer Retirement Plan to an advised IRA with Allegheny. IRA Rollover Recommendations Effective December 20, 2021 (or such later date as the US Department of Labor (“DOL”) Field Assistance Bulletin 2018-02 ceases to be in effect), for purposes of complying with the DOL’s Prohibited Transaction Exemption 2020-02 (“PTE 2020- 02”) where applicable, we are providing the following acknowledgment to you. When we provide investment advice to you regarding your retirement plan account or individual retirement account, we are fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. The way we make money creates some conflicts with your interests, so we operate under a special rule that requires us to act in your best interest and not put our interest ahead of yours. Under this special rule’s provisions, we must:
• Meet a professional standard of care when making investment recommendations (give prudent advice);
• Never put our financial interests ahead of yours when making recommendations (give loyal advice);
• Avoid misleading statements about conflicts of interest, fees, and investments;
• Follow policies and procedures designed to ensure that we give advice that is in your best interest;
• Charge no more than is reasonable for our services; and
• Give you basic information about conflicts of interest. Private Fund Advisor Supervised persons of Allegheny and affiliated persons advise private funds (“Funds”) as listed below. Private funds are generally available only to high-net worth individuals. Certain Allegheny advisors and other related entities (as disclosed in ADV Part 1) serve as General Partner and Advisors to the Funds. Offers to invest in Funds are only made pursuant to appropriate offering documents. As of 12/31/22 Allegheny managed $3,789,857,601 of client regulatory asset under management and together with its related affiliate (Allegheny Investments, LTD “AI” a dually registered investment adviser and licensed broker-dealer), $4,469,578,906 of regulatory assets under management. Collectively, the related entities managed $4,179,552,819 of discretionary assets and $290,026,087of non-discretionary assets.