Firm Overview INVESCO, LLC is an Illinois-based company formed in 1980. The firm is not a subsidiary of, nor does it control another entity. The firm was registered as an investment adviser in Illinois in 1999, and then with the SEC in 2018. Keith Nyborg, Ryan McNeilly, Paul Linzer, and Nilu Judge are the firm's managing members. Information regarding their educational background, business experience, qualifications, and other important disclosures are found in the Brochure Supplement (Form ADV Part 2B) attached to this document. We hold ourselves to a fiduciary standard, which means our firm and its associates will act in the utmost good faith and perform in a manner believed to be in the best interest of our clients. As fiduciaries, we owe our clients a duty to act solely in the best interests of each client, which includes, but it not limited to, a duty of care, loyalty, obedience, and utmost good faith. Description of Advisory Services Offered INVESCO, LLC specializes in providing investment guidance for people interested in achieving financial independence. Our financial services include financial planning, investment counseling, retirement planning, estate planning, tax planning, managing customized investment portfolios and financial education. Client Tailored Services and Client Imposed Restrictions Financial Planning/Investment Counseling Services Our firm's success in helping clients realize financial security is based on three basic principles:
• We take our fiduciary duty to clients very seriously. We help them make decisions to their benefit, not ours.
• Clients should be personally committed to following their financial plans that include managing savings and investments.
• We believe in educating our clients on different types of investments, so they fully understand what is being recommended for them and can make their own decisions. Each of our clients has individual personal and financial needs and goals; we listen to each and customize our investment advice accordingly. Some have substantial savings and investments. Other clients need to save and invest more income from their jobs or businesses to reach a secure retirement position. We're large enough to help our clients accomplish their financial objectives, but small enough to know everyone personally. Retirement Planning Our retirement planning services typically include projections of your likelihood of achieving your financial goals, with financial independence usually the primary objective. For situations where projections show less than the desired results, we may make recommendations that include showing you the impact on those projections by making changes in certain variables (i.e., working longer, savings more, spending less, taking more risk with investments). If you are near retirement or already retired, advice may be given on appropriate distribution strategies to minimize the likelihood of running out of money or having to adversely alter spending during your retirement years. 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 our interests 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 (see PTE 2020-02 on client 401(k) rollovers in our Investment Adviser Agreement);
• Charge no more than is reasonable for our services; and
• Give you basic information about conflicts of interest. You have options regarding retirement account rollovers. When you leave an employer, you typically have four options regarding assets in your existing retirement plan. You may:
• roll over the assets to your new employer’s plan, if available, and rollovers are permitted;
• leave the assets in your former employer’s plan, if permitted;
• roll over the assets to an Individual Retirement Account (IRA); or
• cash out the account value (tax consequences generally apply). If our firm recommends that you roll over retirement assets into an account that we will manage, such a recommendation creates a conflict of interest because our firm will earn fees as a result of the rollover. As a Fiduciary Advisor, we mitigate this conflict of interest by disclosing it and ensuring that a recommendation to roll over retirement savings is in your best interest. You are not under any obligation to roll over retirement savings to an account managed by our firm. Estate Planning This usually includes an analysis of your exposure to estate taxes and your current estate plan, which may include whether you have a will, powers of attorney, trusts and other related documents. Our advice also typically includes ways for you to minimize or avoid future estate taxes by implementing appropriate estate planning strategies such as the use of wills, living trusts, charitable remainder trusts or family limited partnerships. We always recommend that you consult with a qualified attorney when you initiate, update, or complete estate planning activities. We may provide you with contact information for attorneys who specialize in estate planning when you wish to hire an attorney for such purposes. We do not receive compensation for providing this contact information. From time-to-time, we will participate in meetings or phone calls between you and your attorney with your approval or request. We strive to ensure

clients' families avoid financial disagreements and hardships upon their death, to minimize their estate tax, and to name a legal guardian in case of incompetence. Tax Planning Ryan McNeilly & Associates, CPAs is a firm owned and operated by Supervised Persons of our firm, and that shares office space and clients with INVESCO, LLC. While INVESCO, LLC does not offer tax preparation, we can work with your tax professional or Ryan McNeilly & Associates, CPAs to assist in structuring your financial life to identify tax-saving opportunities. Ryan McNeilly & Associates, CPAs helps clients plan their financial decisions to minimize taxes (such as deciding how large an IRA distribution should be). They file tax returns not only for individuals, but also businesses, estates and non- profits organizations. Their expertise helps to ensure that clients minimize their tax burdens. Advice may also include ways to minimize current and future income taxes as a part of your overall financial planning picture. For example, recommendations on which type of account(s) or specific investments should be owned based in part on their “tax efficiency,” with consideration that there is always a possibility of future changes to federal, state or local tax laws, and rates that may impact your situation. Customized Investment Portfolios Customized investment portfolios are sometimes referred to as Separately Managed Accounts (SMAs). There are several advantages of having a separately managed investment account. These include:
• Maximum diversification with individual stocks in 23 different industries, and a strong belief in efficient markets.
• Risk is tailored to each client's specific needs.
• Substantial tax benefits available, such as capital losses in non-IRA type accounts, deferred capital gains and forgiveness of tax upon death. We rarely recommend mutual funds and annuities for the following reasons:
• Mutual Funds have a very poor history of promoting their investors' interests; hence low rates of return.
• Mutual Fund and Annuity fees are unacceptably high; especially costs they do not report.
• Funds are not customized to meet client objectives.
• Funds cannot pass through capital losses to minimize taxes paid by Fundholders. Our fees are based on the value of our clients' investment portfolios. Schwab Institutional, a division of Charles Schwab & Co., Inc., is a leading provider of custodial, operational and trading support for independent investment advisers. Since 1987, Schwab Institutional has supported independent investment advisers by offering support and services to help grow their businesses and help their clients. Working with Schwab enables INVESCO, LLC to help investors reach their financial goals. We also manage tax-deferred IRA, Roth, 401(k), 403 (b), SEP and Keough accounts and pension plans, using a diversified approach to meet client investment objectives and risk levels. Fees for these accounts are even lower than taxable investment portfolios. Financial Education INVESCO, LLC is committed to educating people on personal financial management and investing. We offer classes on investing in stocks through the adult education program at local schools. We are pleased we have been able to help so many people. We also provide free educational seminars on an “as announced” basis for groups desiring general advice on investments and personal finance. Topics may include issues related to financial management, financial planning, retirement strategies, or various other economic and investment topics. Our seminars are educational in nature and do not involve the sale of insurance or investment products. Information presented will not be based on any one person's need nor do we provide individualized investment advice to attendees during our general sessions. General information INVESCO, LLC does not provide legal, accounting, or insurance services. With your consent, we may work with your other advisers (attorneys, accountant, etc.) to assist with coordination and implementation of accepted strategies. You should be aware that these other advisers may charge you separately for their services and these fees may be in addition to our advisory fees. INVESCO, LLC will use its best judgment and good faith effort in rendering its services. INVESCO, LLC cannot warrant or guarantee any particular level of account performance or that your account will be profitable over time. Past performance is not necessarily indicative of future results. Except as may otherwise be provided by law, our firm will not be liable to the client, heirs, or assignees for any loss an account may suffer by reason of an investment decision made or other action taken or omitted in good faith by our firm with that degree of care, skill, prudence and diligence under the circumstances that a prudent person acting in a fiduciary capacity would use; any loss arising from our adherence to your direction or that of your legal agent; or any act or failure to act by a service provider maintaining an account. Notwithstanding the preceding, nothing within our client agreement is intended to diminish in any way our fiduciary obligation to act in your best interest or in any way limit or waive your rights under federal or state securities laws or the rules promulgated pursuant to those laws. Wrap Fee Programs INVESCO, LLC does not participate in or sponsor wrap fee investment management programs. Client Assets Under Management As of December 31, 2023, our firm had approximately $232,708,111 of reportable client assets directly under its management on a discretionary basis. Select Investors Fund In addition to customized client portfolios, we also manage the Select Investors Fund, a private pooled investment vehicle which invests in publicly traded equity securities. The fund is currently closed to new investors. We receive a portfolio management fee based on a percentage of fund assets under management.