9AT: KESTREL WEALTH MANAGEMENT, LLC

KESTREL WEALTH MANAGEMENT, LLC

KESTREL WEALTH MANAGEMENT, LLC

Adviser Profile

As of Date	01/06/2026
Registration	SEC, Approved, 03/14/2022
Other registrations (2)	Michigan, Terminated, 04/27/2022 Indiana, Terminated, 04/25/2022
ADV Location	SOUTH BEND, IN, United States
Contact Info	(57 xxxxxxx
Websites

AUM^*	143,906,000 13%
of that, discretionary	143,906,000 13%
Number of Employees	2 100%
of those in investment advisory functions	2 100%
Private Fund GAV^*	0
Avg Account Size	672,458 4%
% High Net Worth	34.12% -13%
SMA’s	No
Private Funds	0

Adviser Type

- Large advisory firm

Client Types

- Individuals (other than high net worth individuals)
- High net worth individuals

Advisory Activities

- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management

Reported AUM

144M 123M 103M 82M 62M 41M 21M

2022 2023 2024 2025 2026

Discretionary

Non-discretionary

Private Funds

No private funds

Employees

Brochure Summary

Overview

A. Description of the Advisory Firm Kestrel Wealth Management, LLC (“Kestrel”) is based in South Bend, IN and has been providing investment advisory services since 2010. Kestrel’s principal owner is Eric Koselak. B. Types of Advisory Services ASSET MANAGEMENT Kestrel offers asset management services to advisory Clients. Kestrel will offer Clients ongoing asset management services through determining individual investment goals, time horizons, objectives, and risk tolerance. Investment strategies, investment selection, asset allocation, portfolio monitoring and the overall investment program will be based on the above factors. Discretionary When the Client elects to use Kestrel on a discretionary basis, the Client will sign a limited trading authorization or equivalent allowing Kestrel to determine the securities

to be bought or sold and the amount of the securities to be bought or sold. Kestrel will have the authority to execute transactions in the account without seeking Client approval on each transaction. C. Client-Tailored Services and Client-Imposed Restrictions The goals and objectives for each Client are documented in our Client files. Investment strategies are created that reflect the stated goals and objectives. Clients may impose restrictions on investing in certain securities or types of securities. These restrictions may, however, prohibit engagement with Kestrel. D. Wrap Fee Programs Kestrel does not participate in a Wrap Program. E. Amounts Under Management As of December 31, 2022, Kestrel provides management services for: Discretionary Assets: Non-Discretionary Assets: $108,416,064 $0