Invex Next is an investment adviser formed in 2023 based in Coral Gables, FL. We are organized as a limited liability company under the laws of the State of Delaware and are owned by Invex Holdings, Inc. Invex Holdings, Inc. is owned by Invex Controladora S.A.B. de C.V. The following paragraphs describe our services and fees. Refer to the description of each investment advisory service listed below for information on how we tailor our advisory services to your individual needs. As used in this brochure, the words "we," "our," and "us" refer to Invex Next and the words "you," "your," and "client" refer to you as either a client or prospective client of our firm. As a registered investment adviser, Invex Next serves as a fiduciary to clients meaning we have a fundamental obligation to act in the best interests of our clients and uphold a duty of loyalty, fairness, and good faith. While we seek to mitigate potential conflicts of interest, the conflicts disclosed in this brochure should be read carefully and considered along with our qualifications, business practices, and the policies and procedures described in the Code of Ethics, Participation or Interest in Client Transactions and Personal Trading section of this brochure. Our firm provides discretionary investment advisory services. This brochure describes the advisory services and advisory programs offered to investors by Invex Next. Portfolio Management Services We offer a variety of discretionary portfolio management services to individuals and investors described in the Types of Clients section of this brochure (our "clients"). Our investment advice is tailored to meet our clients' needs and investment objectives. If you participate in our discretionary portfolio management services, we require you to grant us discretionary authority to manage your account. Subject to a grant of discretionary authorization, we have the authority and responsibility to formulate investment strategies on your behalf. Discretionary authorization will allow us to determine the specific securities, and the amount of securities, to be purchased or sold for your account without obtaining your approval prior to each transaction. We will also have discretion over the broker or dealer to be used for securities transactions, and over the commission rates to be paid. Discretionary authority is typically granted by the investment advisory agreement you sign with our firm, a power of attorney, or trading authorization forms. You may limit our discretionary authority (for example, by limiting the types of securities that can be purchased or sold for your account) by providing our firm with your restrictions and guidelines in writing. o In providing our services, we seek to achieve capital appreciation generally through long and short investments in publicly traded and privately traded securities but may also make other types of investments on behalf of our clients as we deem appropriate. We added information on our affiliated investment adviser: Invex Next, LLC o Invex Advisors shares certain employees who hold management positions with Invex Next. Carlos Barrientos serves as Chief Compliance Officer of both Invex Advisors LLC and Invex Next LLC Our firm tailors our advisory services to the individual needs and specified investment mandates of our clients. We work with each client to identify their investment goals, objectives, risk tolerance and financial situation in order to create their specific investment strategy. We implement and adhere to the investment strategy set forth in each managed account agreement through internal management and/or the use of unaffiliated sub-advisers or investment platforms. Sub-Adviser Based Third Party Asset Management Program Invex Next has entered into a sub-advisory relationship with BCP Advisors LLC (CRD# 157973) ("BCP Advisors") to provide investment management services to certain accounts. Invex Next and BCP Advisors are jointly responsible for the ongoing management of accounts participating

in this sub- advisory agreement. If your account falls under the sub-advisory agreement, you will receive both ourdisclosure brochure as well as BCP Advisors disclosure brochure when opening a new account. Please ensure that you carefully review all documents provided to you on behalf of BCP Advisors, including, but not limited to:
• BCP Advisors Form ADV Part 2A;
• BCP Advisors Client Agreement and any other agreement for specific contractual terms (fees, billing methods, administrative expenses and methods, etc.);
• Any additional disclosure or offering documentation provided by BCP Advisors regarding specific program descriptions, products, or services. Assets managed in a sub-advised account are counted as assets under management for Invex Next and BCP Advisors. Both Invex Next and BCP Advisors are responsible for the management of the invested assets. The sub-adviser relationship requires Invex Next to engage in oversight of BCP Global and to address any comments, complaints, or feedback regarding the sub-advisory relationship. Invex Next's Chief Investment Officer shall determine the necessity of sub-advisory relationships for specific accounts or the program as a whole, and has the discretion to consider additional costs and oversight requirements as necessary. Sub-advised accounts shall be charged a single asset-based fee for portfolio management services as more fully described in the Fees and Compensation section of this brochure. Wrap Fee Program We do participate in a wrap fee program where the client pays a wrap fee and no trading costs. Types of Investments We primarily offer advice on Exchange Traded Funds ("ETFs"), Undertakings for the Collective Investment in Transferable Securities ("UCITS") and Bonds. Refer to the Methods of Analysis, Investment Strategies and Risk of Loss below for additional disclosures on this topic. Additionally, we may advise you on various types of investments based on your stated goals and objectives. We may also provide advice on any type of investment held in your portfolio at the inception of our advisory relationship. IRA Rollover Recommendations Effective January 30, 2022 (with enforcement delayed to June 30, 2022 by the US Department of Labor ("DOL") when Field Assistance Bulletin 2018-02 ceased to be in effect), 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. We benefit financially from the rollover of your assets from a retirement account to an account that we manage or provide investment advice, because the assets increase our assets under management and, in turn, our advisory fees. As a fiduciary, we only recommend a rollover when we believe it is in your best interest. Assets Under Management As of March 25, 2024, our assets under management totaled $330,687.