General Information Sherrill & Hutchins Financial Advisory, Inc. (“SHFA” or “we”) was formed in 1984 and provides financial planning, investment management, retirement plan advisory services and estate distribution services to its clients. Jessica Sherrill, Theodore Noble, William F. Hutchins, III and Mark Sheerin are the principal owners of SHFA. Please see our Brochure Supplements, Exhibit A, for more information on these owners and other individuals who formulate investment advice and have direct contact with clients or have discretionary authority over client accounts. As of December 31, 2022, we managed $486,598,448 on a discretionary basis, and no assets on a non- discretionary basis. SERVICES OFFERED At the outset of our relationship, we spend time with you, asking questions, discussing your investment experience and financial circumstances, and broadly identifying your major goals. You may elect to retain us to prepare a full financial plan. This written report is presented to you for consideration. You may subsequently retain us to manage your investment portfolio on an ongoing basis. If you retain us for investment management services, based on all the information initially gathered, we generally develop with you:
• a financial outline based on your financial circumstances and goals, and risk tolerance level (your “Financial Profile” or “Profile”);
• your investment objectives and asset allocation (your “Investment Guidelines”). Your Financial Profile is a reflection of your current financial picture and a look to your future goals. Your Investment Guidelines set out what portion of your total portfolio we will invest in different asset classes (e.g., stocks, bonds, cash) based on your investment objectives and risk tolerance level. Your Profile and Investment Guidelines are discussed regularly with you but are not necessarily written documents. Where we provide only limited financial planning, we will work with you to prepare an appropriate summary of the specific project(s) to the extent necessary or advisable under the circumstances. WEALTH MANAGEMENT SERVICES OFFERED Our Wealth Management Service is appropriate if you have investable assets of $1,000,000 or more. It is inclusive of our wide range of financial planning services (see below). As noted above, at the beginning of our client relationship, we meet with you, gather information, and perform research and analysis as necessary to develop your Investment Guidelines. Your Investment Guidelines will be updated from time to time upon your request, or when we determine it to be necessary or advisable based on updates to your financial or other circumstances. We offer to meet with Wealth Management clients at least annually, or more often if there are changes to the client’s financial circumstances. We are available for consultation by telephone and email as needed. We will implement your portfolio according to your Investment Guidelines and will manage your investment portfolio on a discretionary basis. As a discretionary investment adviser, we will have the authority to supervise and direct your portfolio without prior consultation with you. Notwithstanding the foregoing, Wealth Management clients may request certain written restrictions in the management of their investment portfolios, such as prohibiting the inclusion of certain types of investments in an investment portfolio or prohibiting the sale of certain investments held in the account at the commencement of the relationship. You should note, however, that if you impose restrictions this may adversely affect the composition and performance of your investment portfolio. You should also note that your investment portfolio is treated individually by giving consideration to each purchase or sale for your account. For these and other reasons, performance of client investment portfolios within the same investment objectives, goals and/or risk tolerance may differ, and you should not expect that the composition or performance of your investment portfolios would necessarily be consistent with similar clients of ours. Pontera Solutions, Inc. Clients can choose to have us provide discretionary management for certain assets that are not held at a qualified custodian with which we have an advisory relationship (i.e., “held-away accounts”). We are able to provide investment management services for held-away accounts through a third-party order management system, Pontera Solutions, Inc. (“Pontera”). Held-away accounts typically include 401(k) accounts, 403(b)s, 529 plans, and other similar accounts. We can view held-away accounts through the Pontera website, and enter trading instructions through their trading tool. Participating clients are provided access to the Pontera website and from there, directly link their held-away account to Pontera using their personal login credentials. The client’s login credentials are never made available to, held or stored by us. Clients should understand that our investment of the assets held within such accounts is limited to the various investment options made available by the account sponsor, issuer, or custodian. The goal is to allocate the portfolio assets in such a way as to improve account performance over time, minimize loss during difficult markets, and manage internal fees that harm account performance. We regularly review the available investment options in these accounts, monitor them, and rebalance the assets when deemed necessary in light of the client’s investment goals and risk tolerance, and consideration of current economic and market trends. Pontera charges us a percentage fee based on the amount of the client assets we manage through their platform. Clients do not pay any additional fee to Pontera or to us in connection with platform participation. We are not affiliated with Pontera and receive no compensation from Pontera for using their platform. PLANNING SERVICES OFFERED Financial Planning One of the services offered by us is financial planning, described below. This service may be provided as a stand-alone service or may be coupled with ongoing investment management. Financial planning may include advice that addresses one or more areas of your financial situation including, but not limited to, estate planning, risk management, budgeting and cash flow controls, retirement planning,

education funding, and investment portfolio design. Depending on your particular situation, financial planning may include some or all of the following:
• Gathering factual information concerning your personal and financial situation;
• Assisting you in establishing financial goals and objectives;
• Analyzing your present situation and anticipated future activities in light of your financial goals and objectives;
• Identifying problems foreseen in the accomplishment of these financial goals and objectives and offering alternative solutions to the problems;
• Making recommendations to help achieve retirement plan goals and objectives;
• Designing an investment strategy to help meet your goals and objectives;
• Providing estate planning review and recommendations;
• Assessing risk and reviewing basic health, life, long-term care and disability insurance needs; and
• Reviewing goals and objectives and measuring progress toward these goals. Once financial planning advice is given, you may choose to have us implement your financial plan and manage your investment portfolio on an ongoing basis. However, you are under no obligation to act upon any of the recommendations we make under a Financial Planning engagement and/or engage the services of any recommended professional. Estate Distribution Services Upon the death of a client, the estate of the client may engage us to assist in the distribution of assets held at a custodian where we are listed as the investment adviser of record on the account(s). Such services generally include assisting with transfer of registration of the assets, establishing accounts as needed, and assistance with distributions to the estate, trust beneficiary account(s), inherited IRA accounts, etc. This could include collaboration with the client’s attorney and CPA as necessary. Retirement Plan Advisory Services We provide Retirement Plan advisory services to Plans and Plan Fiduciaries as described below. The particular services provided will be detailed in the advisory agreement. The Employee Retirement Income Security Act of 1974 (“ERISA”) sets forth rules under which Plan Fiduciaries may retain investment advisers for various types of services with respect to Plan assets. For certain services, we will be considered a fiduciary under ERISA. For example, we will act as an ERISA § 3(21) fiduciary when providing non-discretionary investment advice to the Plan Fiduciaries by recommending a suite of investments as choices among which Plan Participants may select. Also, to the extent that the Plan Fiduciaries retain us to act as an investment manager within the meaning of ERISA § 3(38), we will provide discretionary investment management services to the Plan. Fiduciary Services
• Discretionary Management Services When retained as an investment manager within the meaning of ERISA § 3(38), we provide continuous and ongoing supervision over the designated retirement plan assets. We will actively monitor the designated retirement plan assets and provide ongoing management of the assets. When applicable, we will have discretionary authority to make all decisions to buy, sell or hold securities, cash or other investments for the designated retirement plan assets in our sole discretion without first consulting with the Plan Fiduciaries. We also have the power and authority to carry out these decisions by giving instructions, on your behalf, to brokers and dealers and the qualified custodian(s) of the Plan for our management of the designated retirement plan assets.
• Discretionary Investment Selection Services We will select/recommend and monitor the investment options of the Plan and add or remove investment options for the Plan on a discretionary or non-discretionary basis. In a discretionary arrangement, we will have discretionary authority to make and implement all decisions regarding the investment options that are available to Plan Participants without prior consultation with the Plan Fiduciaries. In a non-discretionary arrangement, we will recommend and monitor the plan investments, but Plan Fiduciaries retain responsibility for the final determination of investment options and for compliance with ERISA section 404(c).
• Model Portfolio Management We offer model portfolios designed to meet various investment objectives, risk tolerances and time horizons for participant-directed plans that are updated and rebalanced periodically. We act as an “investment manager” (as defined in Section 3(38) of ERISA) with respect to the construction and performance of the portfolios. Plan Participants will also have the option of investing only in options that do not include Model Portfolios (i.e., the Plan Participants may elect to invest in one or more of the mutual fund options made available in the Plan and choose not to invest in the Model Portfolios at all). Non-Fiduciary Services
• Participant Education For pension, profit sharing and 401(k) plan clients in self-directed plans for whom we have been engaged for the discretionary or non-discretionary management services described above, we may provide periodic educational support designed for the Plan Participants, if provided for in our agreement with the client. The educational support will not provide Plan Participants with individualized, tailored investment advice. Retirement Plan Rollovers We are fiduciaries under the Investment Advisers Act of 1940 and when we provide investment advice to you regarding your retirement plan account or individual retirement account, we are also 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. We have to act in your best interest and not put our interest ahead of yours. If we recommend that you transfer or roll over your retirement plan or IRA assets into an account to be managed by us, such a recommendation creates a conflict of interest if we will earn a new (or increase our current) advisory fee because of the transfer/rollover. Investing in an IRA with us may be more expensive than an employer-sponsored retirement plan. You are under no obligation to roll over assets to an IRA managed by us or to engage us to monitor and/or manage a plan account while maintained at your employer.