4. A. Emerson Equity LLC is a California limited liability company [IRS EIN 74-3109983] that registered to do business as an investment Advisory firm on March 5, 2004. Note: The use of the phrase “registered investment adviser” or the term “registered” do not imply a certain level of skill or training. The firm’s Managing Member and Chief Compliance Officer is Dominic Baldini. The firm is dually registered as a broker-dealer, as well as being an investment Advisory firm. The firm is licensed to sell insurance and is a registered securities broker-dealer as well as a registered investment Adviser. Approximately 5% of the firm's time is expected to be spent on insurance activities, 85% on brokerage activities, and 10% on investment Advisory activities. While the Adviser has not formalized minimum standards of education and background for persons who represent it in providing investment advice to clients, generally those persons are college graduates with at least three years of business experience in the securities industry or other fields complementing their professional activities. Normal business hours are from 6:00 AM TO 5:00 PM (Pacific Time) 4.B. Emerson Equity offers the following services:
• Financial Planning
• Portfolio Management and consulting for individuals, businesses and institutional clients
• Insurance consulting
• Portfolio Evaluation Services
• Seminars
• Referrals to other investment advisers
• Management of Private Placement Life Insurance / Insurance Dedicated Funds (Single Investor Private Funds) For certain clients, the Adviser provides various types of financial planning, such as estate planning, retirement planning, investment planning, business succession planning, executive compensation planning, executive financial services and deferred compensation planning. Financial Planning, Portfolio Management, and Insurance Consulting: The Adviser supervises and directs the investments of its clients in accordance with the investment profile the client has communicated to the Adviser. The Adviser renders to the client a quarterly inventory report. In providing investment Advisory services, the sole standard of care of Adviser is to act with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent Adviser in a fiduciary capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims. The Adviser does not assume responsibility for the accuracy of information furnished by any third party to the client. Clients may or may not make investment and insurance applications at the time of a plan’s presentation. Emerson Equity does not obligate any client to implement any recommendation or suggestion made by the Adviser or to make any transaction through the Adviser or persons associated with the Adviser or through any other particular broker-dealer. The Adviser’s representative, in some instances, discusses interests in limited partnerships; investing in equipment leasing; private capital such as private equity and real estate limited partnerships, LLCs, corporations, separate accounts, and limited partnerships investing in private equity funds; hedge funds and limited partnerships investing in hedge funds (collectively, “Private Placements”). Though the Adviser’s representatives recommend Private Placements where they are deemed appropriate for the client’s portfolio, assets placed in these securities are not included as billable assets for purposes of calculating Advisory fees. However, where the Adviser’s representative is also associated as a registered representative of a broker-dealer, the Adviser’s representative receives a commission for the sale of Private Placements. As such, there exists an inherent conflict of interest in recommending such securities. We address this conflict by disclosing it here, as well as disclosing any such commissions in conjunction with the sale of any such Private Placements. As discussed with other investment recommendations, Emerson Equity does not obligate any client to implement any recommendation or suggestion made by the Adviser or to make any transaction through the Adviser or persons associated with the Adviser or through any other particular broker-dealer. If the client chooses to purchase a recommended product through Emerson Equity in its capacity as a broker-dealer, the firm or persons associated with the firm will charge a fee

on the transaction that is equal to the ticket charge assessed by the Custodian or Executing Broker for that product, just as if the client had purchased the product through someone else. This fee is not used to compensate Emerson Equity or your Adviser. Portfolio Evaluation Services In certain instances, Adviser also provide clients with Portfolio Evaluation Services, which provides clients with information to assess their portfolio performance with features such as tax lot reporting, realized and unrealized gains and losses, performance measurement, and cash flow projections Seminars Emerson Equity also provides seminars to individuals or to groups of employees, associates and other organized groups. The investment information our firm provides with this service is not intended to meet the objectives of each individual client. Referral to Other Investment Advisers The Adviser, in some instances, recommends a third party investment Adviser to perform investment Advisory services on behalf of the client. Adviser receives a percentage of the Advisory fee charged to the client by the third party investment Adviser. Management of Private Placement Life Insurance / Insurance Dedicated Funds (Single Investor Private Funds) For certain accredited investors, the Adviser recommends the use of Private Placement Life Insurance. These assets are single investor private funds (Insurance Dedicated Funds) into which the cash value of an insurance policy of a single investor is placed. The fund itself is structured by the issuing insurance company. Once structured and funded, the Adviser manages the underlying assets in the fund according to the investment objectives identified by the fund documents. Adviser receives a referral fee from the issuing insurance company (this fee is paid by the insurance company, and it does not come from fund assets), as well as an ongoing asset management fee as compensation for the management of the underlying assets in the fund (this management fee is paid from fund assets). 4.C. Do we tailor our Advisory services to a client’s individual needs and how do we do so? Can clients impose restrictions on investing in certain securities or types of securities? By their nature, all of our investment Advisory services must be based on each client’s individual needs to have any useful validity. As a fiduciary, an investment adviser is to make only those recommendations that demonstrably are in the client’s own best interests, which means that they, too, must be based on an individual’s stated and/ or established needs, goals, risk tolerance and investment time horizon. The firm seeks to establish this personal dimension through a careful, fact-finding interview and discussions with each client. Clients may impose reasonable restrictions on the adviser’s discretion to invest in certain securities or types of securities if a client provides clear, written directions to that effect. Clients may opt to have their account managed on a non-discretionary basis. The client allows the power of discretion to an adviser by means of a limited power of attorney included as part of the advisory contract, which the client may revoke at any time. Where the account is managed on a discretionary basis, the Adviser’s representative makes investment determinations and act upon such determinations with respect to the assets in the account without further approval from the client, subject to any restrictions placed on the account. Discretion does not allow the Adviser’s representative to withdraw funds, transfer funds, or place assets in certain classes of securities (e.g., private placements). In the event the client chooses to have the account managed on a non-discretionary basis, the adviser contacts the client to request approval for each transaction effected for the account. A client’s ability to impose restrictions on any third party investment adviser’s discretion occurs at the beginning of the process at which time a client accepts or chooses not to engage the recommended adviser(s). Clients may withdraw from the adviser(s) at any time as well, subject to the terms and conditions of the third party adviser’s advisory agreement. 4.D. Do we participate in a wrap fee program providing portfolio management services? No, we do not. 4.E. As of 12.31.2023, the firm managed assets of $176,171,921 in a continuous and regular manner. Accounts are discretionary and non-discretionary.