Hengehold Capital Management LLC dba HCM Wealth Advisors (HCM Wealth Advisors) was organized in 1990 and is a Registered Investment Adviser with the SEC with its principal place of business located in Ohio. The Firm's majority owner is Michael Hengehold. HCM Wealth Advisors is a fiduciary and is required to act in a client’s best interest at all times. Individual Portfolio Management: HCM Wealth Advisors provides continuous management to our clients regarding the investment of their funds. Working with the client, we establish an investment policy (stated in the client’s management agreement as a neutral asset allocation target) and create and manage a portfolio based on that policy. During our data-gathering process, we review the client’s individual objectives, time horizons, risk tolerance, and liquidity needs. As appropriate, we also review and discuss a client's prior investment history. We manage these advisory accounts on a discretionary basis. Discretionary means the trading activity with your account is directed by us without receiving prior authorization. Discretion grants Advisor the authority to implement asset allocation changes that may be substantially different than the clients’ neutral allocation target, based on Advisor’s opinion of investment risk and/or opportunity. Clients retain ownership of all securities. Our investment recommendations include, but are not limited to advice regarding the following securities:
• Certificates of deposit
• Commercial paper
• Corporate debt securities
• Exchange-listed securities (Stocks and ETFs)
• Foreign issuers
• Municipal securities
• Mutual fund shares
• Options contracts on securities
• United States government securities
• Variable annuities
• Warrants Because some types of investments involve certain additional degrees of risk, they will only be utilized when consistent with the client's stated investment objectives, tolerance for risk, liquidity and suitability. Advisor will, with certain limited exceptions, determine the

portfolio holdings to be utilized. HCM Wealth Advisors’ investment style is long-term and should be evaluated over full market cycles. Our Firm provides portfolio management services to clients using model based asset allocation portfolios. Each model portfolio is based on risk and return assumptions developed by reference to long term historical observations that may or may not repeat in the future. Portfolio results should not be considered a predictor of future results. Through discussions with the client, we establish portfolio goals and objectives. We help the client decide which model portfolio is suitable based on the client's circumstances and what customization may be appropriate. Once the suitability of the portfolio has been determined, the portfolio is managed based on the model’s goal, with client specific modifications based on unique cash flow needs. Clients may decline to implement any advice rendered. To confirm that the initial determination of an appropriate portfolio remains suitable and that the account continues to be managed in a manner consistent with the client's financial circumstances, we will: 1. Periodically contact each client to ask if there have been any changes in the client's financial situation or investment objectives, 2. Ask if the client wishes to impose investment restrictions or modify existing restrictions; 3. Be available to meet with the client at their convenience. In addition, we offer financial planning services, schedule meetings and calls to keep the plan current and monitor changes in your personal situation. These financial planning services are included in the portfolio management services previously described. HCM Wealth Advisors publishes a periodic newsletter at no charge, providing general information on various topics. No specific investment recommendations are provided and the information is not intended to meet the objectives or needs of any individual. Amount Of Managed Assets As of 12/31/2023 we were actively managing $909,143,810 of clients' assets on a discretionary basis.