ABOUT OUR FIRM FPC Investment Advisory, Inc. is currently registered with the Securities and Exchange Commission ("SEC") as an investment adviser, with its principal place of business located in the state of California. FPC Investment Advisory has been in business since 1994, and its principal owners are Bijan Golkar, Chief Executive Officer & Chief Compliance Officer and Tyler Schalch, Chief Investment Officer. Our Firm was registered with the SEC as an investment adviser in 2018. Our Firm currently has offices located in Petaluma, California and San Jose, California. This brochure is designed to provide detailed and precise information about each item noted in the table of contents. Certain disclosures are repeated in one or more items, and other disclosures are referred to throughout to be as comprehensive as possible on the broad subject matters discussed. Within this brochure, specific terms in either are used as follows:
• FPC refers to FPC Investment Advisory, Inc.
• “Firm,” “we,” “us,” and “our” refer to FPC Investment Advisory, Inc.
• “Advisor,” “Investment Advisor Representative,” and “IAR” refers to our professional representatives who provide investment recommendations or advice on behalf of FPC Investment Advisory, Inc.
• “You,” “yours,” and “Client” refers to Clients of FPC Investment Advisory, Inc. and its advisors.
• “Code” refers to our Firm’s Code of Ethics.
• “CCO” refers to our Chief Compliance Officer, Bijan Golkar. ADVISORY SERVICES WE OFFER Our Firm offers a variety of advisory services, which include discretionary investment management, financial planning, consulting services and assets under advisement, and income tax preparation services. Before rendering any preceding advisory services, Clients must enter into one or more written Investment Advisory Agreements (“Agreements”), setting forth the relevant terms and conditions of the advisory relationship. Our Firm manages portfolios for individuals, high-net-worth individuals and families, estates, trusts, corporations, and charitable organizations. We provide investment management and advisory services to multi-generational families using separately managed accounts under a custodial relationship with an independent brokerage firm. With our discretionary relationship, we will change the portfolio as appropriate to help meet your financial objectives. We trade Client portfolios based on our Firm’s market views and the Client’s financial goals We primarily invest in securities, mutual funds, and exchange-traded funds. A portion of the account may be held in cash, cash equivalents, or money market funds as part of the overall investment strategy. Cash balances may have a higher concentration and represent a significant portion of your overall portfolio, depending on the current investment outlook or strategy. We do not allow Clients to impose reasonable restrictions on investing in certain securities by notifying Us through written notification. Clients are advised to promptly notify us if there are changes in their financial situation or if they wish to place any limitations on managing their portfolios. Our Firm generally requires a minimum account size of $2,000,000 for advisory accounts. However, from time to time, at our sole discretion, we may accept smaller accounts based on various criteria, such as anticipated future assets, related accounts, and other individual Client circumstances. LEGACY MANAGEMENT SERVICES Our Firm may advise a Client about legacy positions or other investments in Client portfolios. Clients can limit or restrict our trading in these positions. FINANCIAL PLANNING SERVICES Our Firm offers financial planning services, which involve preparing a written financial plan covering specific or multiple topics. We provide full written financial plans, which may address one or several topics: Investment Planning, Retirement Planning, Insurance Planning, Tax Planning, Education Planning, Portfolios, and Allocation Review. Unless otherwise agreed to in writing, the Client is solely responsible for determining whether to implement our financial planning recommendations. Our financial planning services do not involve implementing transactions on your behalf nor include active and ongoing monitoring or management of your investments or accounts. The Client must execute a separate written agreement if the Client elects to implement any of our investment recommendations through our Firm or retain our Firm to monitor and manage investments actively. INCOME TAX PREPARATION SERVICES

FPC can provide income tax preparation and tax planning advice in accordance with the rules of the IRS and applicable state laws. Normally, FPC will only prepare income tax returns for individuals and small businesses. Income tax preparation services are normally offered to advisory clients of FPC, but can be extended to other non-advisory customers. FPC. Can decline to prepare any income tax return due to the complexity and scope involved. There is no requirement that any advisory clients have their income tax returns prepared by FPC. Fees for services rendered are due after the consultations are completed. Tax preparation fees are separate and independent of investment management and financial planning fees. CONSULTING SERVICES & ASSETS UNDER ADVISEMENT Our investment consulting and advisement services are designed to meet our Client’s financial goals, needs, and objectives involving analysis of a Client’s investments, such as variable life insurance and annuity contracts and assets held in employer-sponsored retirement plans, and qualified tuition plans (i.e., 529 plans) held externally from our Firm. In these situations, our Firm may direct or recommend allocating assets among the various investment options available within the product. ROLLOVER RECOMMENDATION DISCLOSURE Our Firm is considered a fiduciary under the Investment Advisers Act of 1940. When we provide investment advice to you regarding your retirement plan account or individual retirement account, we are also fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act and the Internal Revenue Code, as applicable, which are laws governing retirement accounts. We must act in your best interest and not put our interests ahead of yours. At the same time, how we make money conflicts with Client interests. A Client leaving an employer typically has four options regarding an existing retirement plan (and may engage in a combination of these options):
• leave the money in the former employer’s plan, if permitted,
• roll over the assets to the new employer’s plan, if one is available and rollovers are permitted,
• rollover to an Individual Retirement Account (“IRA”), or
• cash out the account value (which depending upon the Client’s age, could result in adverse tax consequences). Our Firm may recommend a Client rollover plan assets to an IRA for which our Firm provides investment advisory services. As a result, our Firm and its advisors may earn an asset-based fee on the rolled assets. In contrast, a recommendation that a Client leave their plan assets with their previous employer or rollover the assets to a plan sponsored by a new employer will generally result in no compensation to our Firm. Therefore, our Firm has an economic incentive to encourage a Client to roll plan assets into an IRA that our Firm will manage, which presents a conflict of interest. To mitigate the conflict of interest, there are various factors that our Firm will consider before recommending a rollover, including but not limited to:
• the investment options available in the plan versus the investment options available in an IRA,
• fees and expenses in the plan versus the fees and expenses in an IRA,
• the services and responsiveness of the plan’s investment professionals versus those of our Firm,
• protection of assets from creditors and legal judgments,
• required minimum distributions and age considerations, and
• employer stock tax consequences, if any. The Chief Compliance Officer remains available to address client questions regarding the supervision and oversight of rollover and transfer assets. CLIENT OBJECTIVES & RESTRICTIONS Our Firm tailors our investment management and advisory services continuously to meet the needs of our Clients. We seek to ensure Client portfolios are managed consistently with those needs and objectives in mind. We meet with Clients on an initial and ongoing basis to assess their specific risk tolerance, time horizon, liquidity constraints, and other related factors relevant to managing their portfolios. Clients may impose reasonable restrictions on managing the accounts if the conditions do not impact the performance of a management strategy. WRAP FEE PROGRAM Our Firm does not sponsor or participate in a Wrap Program. ASSETS UNDER MANAGEMENT As of May 8, 2024, our Firm had $239,151,920 in discretionary assets under management, and $0 in non- discretionary assets under management.