Firm Description BKS Financial Investments, LLC d/b/a BKS Retirement Services ("BKS Retirement”, “BKS-RS” “Firm” "we" or "us") is a registered investment adviser organized as a Florida limited liability company and based in Tampa, Florida. BKS Retirement Services provides pension investment consulting services.. The Adviser is part of The Baldwin Insurance Group, Inc. (The Baldwin Group, NASDAQ: BWIN ). The Baldwin Group is an independent insurance distribution firm delivering tailored insurance and risk management insights and solutions. In September 2021, BKS Financial Investments added Insgroup Financial as a dba under the Firm, with an office location in Texas. We provide investment advisory and consulting services to a broad range of clients including individuals, pension and profit-sharing plans, defined benefit plans, trusts, estates, charitable organizations, and small to mid-size businesses. We offer advice through consultation with the client which may include determination of financial objectives, identification of financial problems, cash flow management, tax planning, insurance review, investment management, education funding, retirement planning, and estate planning. As of December 31, 2023, we maintained approximately $14,605,788,931 in Asset Management Services related to retirement plans. Retirement plans may include assets for which we act as a 3(21) or a 3(38) fiduciary and provide ongoing recommendations based upon the needs of the retirement plan client, as to which specific securities or other investments to make available to its plan participants, among other services. Types of Advisory Services Pension Investment Consulting Services: We offer pension investment consulting services to employee benefit Plans and their fiduciaries designed to assist retirement Plan sponsors, trustees and/or Plan committees in meeting their Plan management and fiduciary obligations under the Employee Retirement Income Security Act of 1974 ("ERISA") and other applicable laws. Our services are tailored based upon the needs of the Plan and the services requested by the Plan sponsor or named fiduciary. In general, these services may include Plan, sponsor and participant education, investment policy development and review, asset allocation advice, vendor searches, performance monitoring and reporting, Plan cost and revenue distribution analyses, and fiduciary governance consulting. These pension investment consulting services are generally non-discretionary and advisory in nature. The ultimate decision to act on behalf of the Plan always remains with the Plan sponsor or other named fiduciaries. Investment Policy Development & Review: We consider the Investment Policy Statement ("IPS") to be a key component of a Plan's investment program which we utilize as a "road map" to help govern the investment program. We will initially meet with the Plan sponsor, trustees and/or plan committee to gather information to allow us to fully understand a retirement Plan's risk tolerance and investment objectives. Once we have completed gathering information, we will review the existing IPS or draft a new one which incorporates in the information we gathered. The IPS generally includes: a purpose statement, investment goals and objectives, responsibilities of key personnel, identification of key constraints, eligible investments, asset allocation and liability process, portfolio rebalancing process, risk management process, performance benchmarks and performance reporting process. Asset Allocation Advice: We will review a retirement Plan's menu of investments and analyze risk/return and correlations between asset classes with the purpose of achieving the goals and objectives of the IPS. Our process for recommending an overall portfolio structure includes: IPS constraints;  Views and predispositions of the responsible investment fiduciary;  Investment sophistication of the responsible investment fiduciary;  Cost/benefit of certain investment vehicles; and  Performance reporting implications. Vendor Searches: We may conduct a search of the marketplace and provide quotations from leading retirement plan vendors that are compatible with a Plan's needs. We will then make recommendations regarding vendor selection based upon study results and the Plan's goals and objectives. Performance Monitoring & Reporting: We provide retirement Plans with periodic performance reports utilizing Morningstar, Zephyr Style Advisor, Fiduciary Analytics (Fi360) and other recognized multi-factor investment analytical services. We may also utilize in-house resources to provide reporting. Plan Cost & Revenue Distribution Analysis: We perform retirement Plan cost and revenue distribution analysis designed to enable Plan fiduciaries to determine whether the fees and expenses of their Plan arrangements are reasonable and consistent with typical industry benchmarks and competitive practices. The analysis will cover such areas as: identification of hidden or embedded fees, cost comparisons from multiple service providers based upon a proprietary benchmarking database, and assistance with implementation of cost reduction initiatives. Fiduciary Governance Consulting: We assist in evaluating the structure and process for overseeing and management of a retirement Plan to satisfy fiduciary and other plan obligations. Effective fiduciary governance will assist plan fiduciaries in (i) managing regulatory and litigation risks facing Plan fiduciaries, (ii) protecting the Plan sponsor and employees, officers and directors who are not involved in Plan operation, (iii) satisfying obligations to participants, (iv) operating the retirement Plan effectively, and (v) better equipping employees to secure adequate retirement benefits. Educational Workshops: We may offer educational workshops designed for Participants in various retirement Plans. Workshops may include educational presentations related to retirement planning and investment planning/asset allocation. Our investment education workshops are provided on an educational basis. As such, information provided at these workshops does not take into account specific needs or circumstances of any particular Participant and is general in nature. However, in some cases, Participant-level retirement Plan investment advice may be provided. Our Firm may, in some cases, charge a negotiable, annual fixed or one time flat fee ranging between $2,500 and $25,000, depending on the scope and complexity of the services provided. In certain cases, clients may also be responsible for travel expenses. The fee will be due and payable according to the contract terms between our firm and the corporation/business sponsoring the financial education workshop. Participant Education & Investment Advice: When agreed to, by us and the client, we may provide investment education to Plan participants (the "Participants"). Our goal is to supply Participants with information to allow them to make sound investment decisions. Our Participant education program may include sessions which cover both basic and advanced topics such as diversification, asset allocation, risk tolerance, time horizon, as well as the dynamics of existing and potential asset classes which may be suitable for a Participant's portfolio.
We may also offer Participant-level investment advice on an individual basis. So long as our Participant advice is limited to Plan options, we generally provide such advice under our engagement with the Plan. When we so advise Participants directly, they should understand the following:  We do not provide advice on any of the Participant's assets outside of the Plan—our advice is limited solely to the Participant's interests in the Plan and the investment options available in the Plan.  Our agreement with the Plan limits our liability to the Participant and the Plan.  We will not engage in an ongoing advisory relationship with a Participant, rather we will typically only meet with a Participant on a periodic

basis to discuss Plan options.  We will not have any custody over any Participant's assets, whether inside the Plan or otherwise, nor will we have any responsibility for selecting brokers or others to execute any transactions for any Participant.  The Participant retains complete responsibility to determine what Plan investments the Participant will make—we will have no discretion to make any investment decisions for the Participant.  In some cases, our financial planning and consulting services will be provided to employees of our clients. 3(38) Discretionary Fiduciary Services: When agreed to by us and the client, we provide 3(38) discretionary fiduciary services where we select, monitor and replace Plans' investment lineups and/or provide discretionary management of individual Participant accounts. In some cases, we may refer clients to third party money managers for these services.  Administrative Services- We may provide administrative services such as assisting with on boarding processes and other services as agreed by the client. Except as described above, we do not maintain discretionary authority or control with respect to clients' accounts. We provide clients with alternatives and various courses of action, but typically the client retains the sole authority to invest Plan / client assets, establishing an IPA and the selection of investments alternatives available in the Plan. For Plan services, we charge either a fixed annual fee ranging up to $200,000 or an annual fee ranging between 0.01% and 1% of the value of the Plan's assets. Our fees are negotiable, based on the scope and complexity of the services provided. Our fees may be paid directly by the Plan sponsor, out of the Plan's assets, or automatically deducted from the Participants' accounts. Fees may be assessed in advance, arears or other timeframes based on the fund billing processes and are based on the value of the Plan's assets. The fee deduction timeframe is established in conjunction with the record keeper. We may also provide a-la-carte services or special customized investment consulting services which may include one or more of the above. Fees for this service generally range up to $200,000 depending on the scope and complexity of the services provided. A percentage of the fee will be due and payable in advance with the remainder due upon completion of the services offered. All services are described in a written agreement ("Advisory Agreement") and must be consistent with Plan documents. Either party to the Advisory Agreement may terminate it between 30 and 60-days' written notice to the other party. The pension investment consulting fees will be prorated for the quarter in which the termination notice is given which means fees will be charged only in proportion to the number of days in the quarter for which you are a client. If you have pre-paid advisory fees that we have not yet earned, you will receive a prorated refund of those fees.
We may also provide executive compensation design, analysis, and implementation. Fees charged for this service are separate and apart from our pension investment consulting fees. If deemed in the client's best interest we may sign a joint advisory agreement to provide plan services to you with our affiliated advisory firms. Financial Planning and Consulting Services We offer financial planning and consulting services which typically involve providing a variety of advisory services to individuals employed by our clients regarding the management of their financial resources based upon an analysis of their individual needs. If our clients retain our firm for financial planning services, we will meet with those individuals as authorized by our clients and paid for by our client companies to gather information about their financial circumstances and objectives through in- depth personal interviews. The information we gather generally includes current financial status, attitudes toward risk, and future goals. Once we review and analyze the information provided to us, we may deliver a written plan to the individual we are advising, designed to help achieve their stated financial goals and objectives. Financial plans may be broad-based covering a variety of subjects such as retirement planning, tax/cash flow planning, college planning, personal budgeting, death and disability planning, and/or investment planning or modular in nature covering any single subject matter. For clients in need of targeted advice on a specific area, we provide consulting services on discreet subjects such as estate planning, tax planning, insurance, etc. However, we are not a law firm nor an accounting firm, and we do not provide legal or accounting advice. Clients are encouraged to engage their own professionals for legal and accounting advice. Financial plans are based on employee/participant financial situation at the time we present the plan, and on the financial information provided to us. The employee/participant must promptly notify us if their financial situation, goals, objectives, or needs change. The employee/participant is under no obligation to act on our financial planning recommendations. Should they choose to act on any of our recommendations, they are not obligated to implement the financial plan through any of our other investment advisory services. Moreover, the employee/participant may act on our recommendations by placing securities transactions with any brokerage firm. You may terminate the financial planning agreement/consulting agreement by providing us written notice. You will incur a charge for services rendered prior to the termination of the agreement based on the work performed and any pre-paid un-earned fees will be refunded on a pro-rata basis. Fee and fee paying arrangements for financial planning and consulting services will vary based on the scope and complexity of the work performed and will be negotiated with each client on a case-by-case basis. Other Services Clients may also engage us to advise on certain investment products that are not maintained at their primary custodian, such as variable life insurance and annuity contracts and assets held in employer sponsored retirement plans and qualified tuition plans (i.e., 529 plans). In these situations, we direct or recommend the allocation of client assets among the various investment options available with the product. These assets are generally maintained at the underwriting insurance company or the custodian designated by the product's provider. Our clients' individual portfolio allocations and risk exposure. While we receive access to Models and Independent Managers through the Platform Provider, the Platform Provider accepts no responsibility for the performance of any Model or of any Independent Manager. Written Agreements Before engaging the Firm to provide any of the foregoing investment advisory services, clients are required to enter into one or more written agreements with the Firm establishing the terms and conditions under which we render our services (the "Client Agreement"). We typically reserve the right to amend Client Agreements at any time upon written notice to clients, which amendments become effective if not rejected by a client. A client may terminate the Client Agreement at any time by providing us written notice, and we may terminate a Client Agreement at any time by providing the client with written notice. Clients are charged pro rata for services provided through to the date of termination. If the client made an advance payment, we will refund any unearned portion of the advance payment. We reserve the right to terminate any Client Agreement where a client has willfully concealed or has refused to provide pertinent information about financial situations when necessary and appropriate, in our judgment, to providing proper financial advice. Any unused portion of fees collected in advance will be refunded. Agreements may not be assigned without client consent.