Business Description FSR Wealth Management, Ltd. (hereinafter “FSR Wealth”) provides investment management services, manager selection and supervision, as well as financial planning services to individuals, high net worth individuals and institutions. As a registered investment advisor, FSR Wealth is held to the highest standard of client care - a fiduciary standard. As a fiduciary, FSR Wealth always put its client's interests first and must fully disclose any conflict of interest. FSR Wealth does not hold customer funds or securities. A. Description of the Advisory Firm FSR Wealth was formed in 2013 and is a corporation organized in the State of Illinois. Joshua Bretl serves as the firm’s president and is the principal owner. FSR Wealth, along with its affiliated firms, FSR Certified Public Accountants, Ltd. and FSR Insurance Planning, Ltd. (as described in Item 10), utilize the service mark “FSR Wealth Strategies” for marketing purposes. This includes the use of the service mark on websites as well as social media. Notwithstanding the use of the service mark, all contracts entered into with clients will reflect the corporate entity, FSR Wealth Management, Ltd. B. Types of Advisory Services Investment Management Services FSR Wealth Strategies is a retirement planning firm that offers investment management services, while focusing on tax planning. FSR Wealth will tailor a program for each individual client based on risk profile and using tax strategies to minimize overall taxation. This will include an interview session to get to know the client’s specific needs and requirements and to develop a plan that will be executed by FSR Wealth on behalf of the client. FSR Wealth will generally use model portfolios for each client based on their personal objectives, needs, and targets. If we use these model portfolios, the client will not be able to impose restrictions on investing in certain securities or types of securities in accordance with their values or beliefs unless the model portfolios are designed to accommodate such values or beliefs. You will be responsible for notifying us of any updates regarding your financial situation, investment objectives, or risk tolerance and whether you wish to impose or modify any existing investment restrictions. FSR Wealth will act as the investment advisor for the client on a discretionary or non-discretionary basis, as set forth in each Client Agreement with the firm. In a discretionary relationship we will be authorized by you to make investment recommendations for your account(s) and will buy and sell the securities we have recommended to you without contacting you in advance. In a non- discretionary relationship, we will make recommendations to you, but you will be required to initiate or pre-approve investment transactions in your account(s) - you will make the ultimate decision regarding the purchase or sale of investments. See Item 16. Investment Discretion for additional details. In performing its Investment Management Services for each client, FSR Wealth will utilize a third-party platform operated by an unaffiliated investment advisor, AE Wealth Management (“Sub-Advisor”). The Sub-Advisor also provides FSR Wealth with certain sub-advisory administrative, technical and support services. FSR Wealth will provide you with the Sub-Advisor’s Form ADV 2A and appendix 1. Please refer to these disclosure documents for additional details regarding the Sub-Advisor. Form ADV Part 2A Firm Brochure -5- As part of our investment management services, FSR Wealth uses a wrap fee program sponsored by the Sub-Advisor to provide discretionary investment management services to our clients. The model portfolio selection services allows FSR Wealth to select appropriate models based on your financial goals, risk tolerance and investment objectives. The models and individual portfolio managers are vetted and approved by the Sub-Advisor and are reviewed on a periodic basis. A wrap fee program is an investment program where the client pays one stated fee that includes management fees, transaction costs, and other administrative fees. FSR Wealth investment advisor representatives (“IARs”) will advise clients of any fees that are not included within the wrap fee. In connection with the various programs offered by FSR Wealth, IARs will recommend a wrap fee program consisting of a model or a combination of the various models. FSR Wealth and its IARs will be providing the client with the sponsor’s Wrap Fee Program Brochure to provide the client with additional information on the specific wrap fee program or programs. Clients should refer to the sponsor’s Wrap Fee Program Brochure and their IAR for any additional information or questions the client may have with respect to the specific Wrap Fee program or programs. When participating in the Wrap Fee Program, the client will pay one fee, a “wrap fee”, which will be split between FSR Wealth and the Wrap Fee Sponsor (the Sub-Advisor), pursuant to an agreement between the Sub- Advisor and FSR Wealth. FSR Wealth will review the ongoing performance of the Wrap Fee Program to determine whether the use of the program continues to be in the best interest of our clients. Please note Client transactions will be executed through the Wrap Fee Sponsor. When the account is invested in a wrap fee program, the fees and costs associated with obtaining these services and investments outside of the wrap program may be less than those acquired through the wrap program. FSR Wealth periodically reviews the Sub-Advisor, including services provided and costs. Use of Third-Party Platform – Client Managed Accounts As an accommodation, FSR Wealth and the Sub-Advisor will allow existing Clients to set up one or more client-managed accounts, wherein FSR Wealth and the Sub-Advisor are providing the Client with access to the platform utilized by FSR Wealth and operated by the Sub-Advisor for a portion of the Client’s assets (“Client Managed Accounts”). FSR Wealth will NOT be acting as a fiduciary for Client Managed Accounts and offers no investment advice to the Client with respect to Client Managed Accounts. The Client makes all investment decisions and conducts all securities transactions in such accounts without utilizing the services of FSR Wealth personnel. However, the client receives

the same reporting tools and software that are available on the platform as other accounts utilizing a more robust program with the Sub-Advisor. In order to establish a Client Managed Account, the Client must enter into an agreement with FSR Wealth. For this service, the Client is charged a flat monthly fee, as reflected in the fee schedule contained in the client agreement. FSR Wealth is providing this service as an accommodation to its clients and currently does not receive any portion of the fee collected for this service. Since this service merely provides access to the platform, any transactions conducted on the platform are subject to transaction- based fees. Financial Planning Services FSR Wealth offers financial planning services on a one-time basis or on a continuous basis, with a minimum commitment of twelve months of service. The one-time financial planning services may involve, at the client’s request, the preparation of a written financial plan covering specific topics or a comprehensive financial plan. When providing financial planning services, the role of Form ADV Part 2A Firm Brochure -6- the FSR Wealth investment adviser representative is to find ways to help the clients understand the client’s overall financial situation and help the client set financial objectives. Financial planning is based on the individual goals, objectives, time horizon, and risk tolerance of each client. Plans may include, but are not limited to, the following: Retirement Analysis / Projections, Cash Flow Analysis / Projections, Major Goal Funding Analysis / Projections, Insurance Needs Analysis (Life or LTC) / Risk Analysis, Estate Review and/or Investment Related Tax Planning FSR Wealth offers both “comprehensive” written financial plans and “modular” written financial plans, depending upon its clients’ needs or direction. Generally, a “comprehensive” written financial plan involves a detailed review and analysis of all facts of the client’s financial situation, which may include cash flow analysis, investment strategy, retirement planning, life insurance planning, and estate planning, as identified and set forth below. However, some clients may prefer to receive “modular” written financial plans, which only cover those specific areas of concern mutually agreed upon by the client and FSR Wealth. A modular written financial plan is limited in scope and does not involve the creation of a “comprehensive” written financial plan. Clients who desire a “modular” written financial plan should be aware that these “modular” written financial plans do not contain all of the analyses in the more “comprehensive” written financial plan. Clients should also note that the written financial plans prepared by FSR Wealth, regardless of whether they are “comprehensive” or “modular”, do not include specific recommendations of individual securities. Implementation of Recommendations FSR Wealth’s financial planning services do not include investment management services or implementing any transaction on your behalf. FSR Wealth will not provide active and ongoing monitoring or management of your investments or accounts. You shall have the sole responsibility for determining whether to implement FSR Wealth’s financial planning recommendations. To the extent that you would like to implement any of FSR Wealth’s investment recommendations through FSR Wealth or retain FSR Wealth to provide investment management services, and to actively monitor and manage your investments, you will execute a separate written agreement with FSR Wealth for its investment management services described above. Retirement Plan Services FSR Wealth offers fee-based qualified retirement plan services providing non-discretionary investment fiduciary services to Sponsors and Trustees of qualified retirement plans. With these plans, employees will self-direct the investments of their accounts within the plan. As an ERISA 3(21) Investment Advisor, FSR Wealth’s services are designed to allow the Sponsor to retain full discretionary authority or control over assets of the Plan. FSR Wealth will solely be making recommendations to the Sponsor and will provide guidance to the Sponsor in meeting its fiduciary responsibilities. The Sponsor retains decision making authority and may accept or reject any recommendations. FSR Wealth Retirement Plan Services include:
• Administrative services related to support with retirement plan (“Plan”) governance and committee education. Form ADV Part 2A Firm Brochure -7-
• Administrative services related to support with vendor management and service provider selection and review.
• Administrative services related to support with plan participant non-fiduciary education services related to participant education and participant enrollment. IRA Rollover Recommendations For purposes of complying with the DOL’s Prohibited Transaction Exemption 2020-02 (“PTE 2020- 02”) where applicable, we are providing the following acknowledgment to you. When we provide investment advice to you regarding your retirement plan account or individual retirement account, we are fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. The way we make money creates some conflicts with your interests, so we operate under a special rule that requires us to act in your best interest and not put our interest ahead of yours. Under this special rule’s provisions, we must:
• Meet a professional standard of care when making investment recommendations (give prudent advice);
• Never put our financial interests ahead of yours when making recommendations (give loyal advice);
• Avoid misleading statements about conflicts of interest, fees, and investments;
• Follow policies and procedures designed to ensure that we give advice that is in your best interest;
• Charge no more than is reasonable for our services; and
• Give you basic information about conflicts of interest. C. Assets Under Management As of December 31, 2023, FSR Wealth managed $125,408,000 of regulatory assets under management on a discretionary basis.