Introduction Liberty One Investment Management, LLC (hereinafter “Liberty One”) is a registered investment advisor based in Libertyville, Illinois. We are a limited liability company, organized under the laws of the State of Illinois. We have been providing investment advisory services since 2019. Roch R. Tranel is Liberty One’s principal owner (through 818, Inc., a holding company set up for this purpose). You may see the term Associated Person throughout this Brochure. As used in this Brochure, this term refers to anyone from our firm who is an officer, employee, and all individuals providing investment advice on behalf of our firm. Where required, such persons are properly registered as investment adviser representatives. Liberty One serves as a primary investment adviser to clients who receive advisory services directly from the firm or as a sub-adviser, wrap program manager or portfolio model provider to investment advisers, broker dealers and other financial institutions. Portfolio Management Services for Direct Clients Our firm offers continuous discretionary and, in limited cases, non-discretionary portfolio management services. Discretionary portfolio management means we will make investment decisions and place buy or sell orders in your account without contacting you. These decisions are made based upon your stated investment objectives. You may impose reasonable restrictions on investing in certain securities, types of securities, or industry sectors. Non-discretionary portfolio management service means that we must obtain your approval prior to making any transactions in your account. Our investment advice is tailored to meet your needs and investment objectives. If you decide to hire our firm to manage your portfolio, we will meet with you to gather your financial information, determine your goals, and decide how much risk you should take in your investments. The information we gather will help us implement an asset allocation strategy that will be specific to your goals, whether we are actively investing for you or simply providing you with advice. Liberty One mainly uses equity securities, exchange traded funds, mutual funds, U.S. government securities, corporate debt securities, commercial paper, certificates of deposit, treasuries, municipal securities, and options strategies in its portfolio management programs. However we construct your investment portfolio, we will monitor your portfolio’s performance on a continuous basis, and rebalance the portfolio whenever necessary, as changes occur in market conditions, your financial circumstances, or both. Portfolio Management Services Given Through Financial Intermediaries Direct Appointment as a Sub-Advisor We provide sub-advisory services to clients of certain investment advisers (the “primary adviser”) that have signed a sub-advisory agreement with our firm. In these situations, the primary adviser will select one or more portfolio models/strategies developed by our firm and will invest its clients’ (the “end client”) assets in such models. The Primary

adviser determines which portfolio models/strategies are suitable for its client and gives us discretionary authority to manage, invest and reinvest the assets held in these models. We have no duty, responsibility or liability with respect to assets that are not assigned to us for investment management services. Model Portfolio Delivery via Third party Platforms Liberty One maintains model portfolios and makes them available to various financial institutions for their Separately Managed Accounts (“SMA”) and Unified Managed Accounts (“UMA”). These types of accounts are described briefly below. Separately Managed Accounts A SMA is a term within the financial services industry used to describe an individually managed account offered by a registered investment adviser. Such investment advisers offer clients access to a wide array of money managers like Liberty One from which the client can choose. When a client selects Liberty One through these programs, they will usually grant the firm trading discretion over the account. With this authority, the firm directs trading activity in the account according to its investment process and securities selection discipline. Each SMA requires its own custodial account. As a result, a client who chooses to invest with multiple managers may maintain multiple custodial accounts, one for each asset manager selected. Unified Managed Accounts UMAs are similar to SMAs, but there are important differences that investors should note. A UMA combines all of a client’s assets into a single custodial account that may be managed by multiple money managers like Liberty One. Each money manager implements its own investment strategy in a separate sleeve. In a UMA account, Liberty One typically delivers buy or sell signals to the account sponsor. Occasionally, the account sponsor gives Liberty One trading discretion over the UMA accounts. The differences in trade executions, as well as investment restrictions and fees that these types of programs impose can cause accounts with the same money manager and discipline to perform differently over the same time period. Liberty One mainly uses equity securities, exchange traded funds, mutual funds, U.S. government securities, corporate debt securities, commercial paper, certificates of deposit, treasuries, municipal securities, and options strategies in its portfolio management programs. SMA and UMA accounts may be managed as part of a wrap fee program. Under wrap fee programs, the program sponsor manages client accounts for a single fee that includes portfolio management services, custodial services, and trade execution. Out of that fee, the program sponsor is responsible for paying a portion of the wrap fee as an investment advisory fee to Liberty One. Assets Under Management As of December 31, 2022, we manage discretionary assets under management of $1,037,119,437 and non- discretionary assets under management of $414,599,022.