We offer a wrap fee program as described in this Wrap Fee Program Brochure. A wrap fee program is generally considered any arrangement under which clients receive investment advisory services and the execution of client transactions for a specified fee or fees not based upon transactions in their accounts. All our investment management clients will be offered the wrap fee program structure that includes, as a single fee, the securities transaction costs, if any, for trading in Client accounts along with the investment advisory fees earned by our firm. Our firm receives a portion of the wrap fee for the services rendered. While traditional Wrap Fee Programs are often rigid, pre-packaged investment programs, our firm customizes its investment strategies individually for its Clients. Prior to receiving services through the Program, clients are required to enter into a written agreement with our firm setting forth the relevant terms and conditions of the investment advisory relationship (the “Agreement”). OUR WRAP ADVISORY SERVICES The Advisor Managed Portfolios (AMP) Platform is a custom-designed portfolio that is professionally managed by our Firm to meet the client’s financial goals and objectives. We manage advisory accounts on a discretionary basis. Once we have determined a profile and investment plan with a client, we will execute the day-to-day transactions without seeking prior client consent, but within the expected investment guidelines. We may accept accounts with certain restrictions if circumstances warrant. We primarily allocate client assets among individual stocks, bonds, exchange-traded funds (ETFs), and open-end mutual funds. Portfolios will be designed to meet a particular investment goal, determined to be suitable to the client’s circumstances. Once the appropriate portfolio has been determined, portfolios are continuously and regularly monitored and, if necessary, rebalanced based upon the client’s individual needs, stated goals, and objectives. During the initial meeting with a client, we determine the client’s objectives, time horizon, risk tolerance, and liquidity needs. As appropriate, we also review a client’s prior investment history, as well as family composition and background. Based on a client needs, we develop a personal profile and investment plan for the client. We then create and manage the client’s investments based on that profile and plan. It is the client’s obligation to notify us immediately if circumstances have changed with respect to their goals. Once we have determined investments in a client’s portfolio and have allocated the assets, we provide ongoing investment review and management services. The advisory wrap fee is made up of several components, and could include supporting services such as:
• Investment Planning Services: Portfolio reviews, asset allocation, time horizon planning, withdrawal strategies, account aggregation, assistance with outside held accounts such as 401(k)’s, investment policy, stock concentration.
• Estate Planning Guidance: Wills, powers of attorney, living will, health care proxy, trusts, irrevocable life insurance trusts, estate taxes, guardians for minor children, charities. MARCH 2024 | PAGE 5
• Retirement Planning Services: Retirement goal setting, social security analysis, cash flow analysis, IRA contributions, and Roth conversions, review of employer-sponsored benefits, annuities, and pensions, Required Minimum Distributions (RMDs) and other withdrawal strategies, self-employed plans, bucket list items.
• Insurance Planning: Review of existing policies, life insurance analysis, long-term care insurance analysis, health insurance review, homeowner’s or renter’s insurance review, liability coverage, health savings accounts, Medicare advice.
• Cash Flow and Budget: Review of income sources, setting goals, expenses and budgeting, debt management, review of one-time expenses, planned large expenses, emergency funding, dollar cost averaging, mortgage review, and lines of credit.
• Assistance to Loved Ones: Gifting, college planning, caring for the elderly, 529 College Savings Plans, Roth IRAs for children, UGMA/UTMA, advice on establishing trusts.
• Tax planning: Tax sensitive investing, review of cost basis, review of realized gains, carry forward losses, tax loss harvesting, deductions, and credits, potential Roth conversions, Health Savings and Flexible Savings accounts, tax return review. In our discretionary relationship, we will make changes to the portfolio as we deem appropriate to meet client financial objectives. We trade these portfolios based on the combination of our market views and client objectives, using our investment process. We tailor our advisory services to meet the needs of our clients and seek to ensure that our clients’ portfolios are managed in a manner consistent with their individual needs and objectives. Clients have the option to leave standing instructions with our Firm to refrain from investing in particular industries or invest in limited amounts of securities. In all cases, clients have a direct and beneficial interest in their securities, rather than an undivided interest in a pool of securities. We have limited authority to direct the custodian to deduct our investment advisory fees from your accounts, but only with the appropriate written authorization from clients. Where appropriate, we also provide advice about certain types of legacy positions held in client portfolios. Typically, these are assets that are ineligible to be custodied at our primary custodian. Clients will engage us to advise on certain investment products that are not maintained at their primary custodian such as variable

life insurance, annuity contracts, and assets held in employer- sponsored retirement plans, or qualified tuition plans (i.e., 529 plans). You are advised and are expected to understand that our past performance is not a guarantee of future results. Certain market and economic risks exist that may adversely affect an account’s performance. This may result in capital losses in your account. LPL FINANCIAL SPONSORED ADVISORY PROGRAMS We may provide advisory services through certain programs sponsored by LPL Financial LLC (LPL), a registered investment advisor and broker-dealer. Below is a brief description of each LPL advisory program available to our Firm. For more information regarding the LPL programs, including more information on the advisory services and fees that apply, the types of investments MARCH 2024 | PAGE 6 available in the programs, and the potential conflicts of interest presented by the programs, please see the program account packet (which includes the account agreement and LPL Form ADV Program Brochure), and the LPL Form ADV, Part 2A, or the applicable program. MODEL WEALTH PORTFOLIOS PROGRAM (MWP) MWP offers clients a professionally managed mutual fund and ETF asset allocation program. Our Firm will obtain the necessary financial data from the client, assist the client in determining the suitability of the MWP program, and assist the client in setting an appropriate investment objective. We will initiate the steps necessary to open an MWP account and have discretion to select a model portfolio designed by LPL’s Research Department consistent with the client’s stated investment objective. LPL’s Research Department or third-party portfolio strategists are responsible for selecting the mutual funds or ETFs within a model portfolio, and for making changes to the mutual funds or ETFs selected. The client will authorize LPL to act on a discretionary basis to purchase and sell mutual funds and ETFs, and to liquidate previously purchased securities. The client will also authorize LPL to perform rebalancing for MWP accounts. MWP requires a minimum asset value for a program account to be managed. The minimums vary depending on the portfolio(s) selected as well as the account’s allocation among the portfolios. Minimums per portfolio typically range from $5,000 to $25,000. In certain instances, a lower minimum for a portfolio is permitted. RELATIVE COST OF THE PROGRAM A wrap fee program allows our clients to pay a specified fee for investment advisory services and the execution of transactions. Clients do not pay brokerage commissions, markups, or transaction charges for execution of transactions in addition to the advisory fee. Our firm will pay the Custodian for each trade or transaction. We do not charge our clients higher advisory fees based on their trading activity, but you should be aware that we may have an incentive to limit our trading activities in your account(s) because we incur the fees for executed trades when the transaction-based option is selected. In order to mitigate this conflict of interest, we will fulfill our fiduciary duty by always acting in the client’s best interest. Our Firm charges a fee as compensation for providing investment management services in your account(s). These services include advisory services, transaction costs, trade entry, investment supervision, and other account maintenance activities. Our recommended custodian may charge custodial fees, redemption fees, retirement plan and administrative fees, or commissions. See the Additional Fees and Expenses section below for details. A quarterly investment management fee is billed in advance based on the quarter-ending balance of the previous month. Our maximum annual advisory fee is 1.50%. Please note that fees will be adjusted for deposits and withdrawals made during the quarter. If accounts are opened during the quarter, the pro-rata advisory fees will be deducted during the next regularly scheduled billing cycle. The relevant fee and billing method is defined and agreed to by our Firm and the client in the executed Investment Advisory Agreement. This fee is debited directly from your investment account. Additional fees and expenses you may incur include United States Securities and Exchange Commission (SEC) fees, mutual fund/ETF expense ratio fees, tax withholding on certain foreign securities, postage fees, wire fees, bank charges, and other administration fees as authorized by you. MARCH 2024 | PAGE 7 OTHER TYPES OF FEES & EXPENSES In addition to the advisory fees paid to our Firm, you may also incur charges imposed by other third parties such as broker-dealers, custodians, trust companies, banks, and other financial institutions. These additional charges may include custodial fees, charges imposed by a mutual fund or ETF as disclosed in the fund’s prospectus (e.g., fund management fees and other fund expenses), deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage accounts and securities transactions. Neither our Firm nor any of our supervised persons accept compensation for the sale of securities or other investment products, including asset-based sales charges or service fees from the sale of mutual funds. Some of our Investment Adviser Representatives (IARs) of the Firm are licensed insurance agents registered with various state(s) insurance departments. IARs receive compensation (commissions, trails, or other compensation from the respective insurance products) as a result of performing insurance transactions for clients of Marshall Investment.