Burns & Levinson Asset Management was formed in 1997 and specializes in long term, tax conscious, investment management of equity and fixed income portfolios. Our portfolios are comprised primarily of individual assets for individuals, trusts, estates, charitable organizations and corporations. We recognize that each client we serve is unique, therefore we customize our services per client. In conjunction with our investment advisory services, we provide personalized services such as financial reporting, bill paying, funds and asset transfers, tax preparation, escheated property and securities litigations claims. The firm is a wholly-owned subsidiary of Burns & Levinson LLP, a Boston-based leading law firm with over 125 attorneys. We frequently collaborate with the attorneys of Burns & Levinson integrating legal, tax, estate planning and financial services. Through this collaboration the Investment Policy Committee was developed, which reviews clients' portfolios on a regular basis to make sure that each client's investment needs and goals are met. The legal expertise of the attorneys at Burns & Levinson enables us to be aware of the ever-changing laws as soon as they occur and what those laws mean to our clients. Ultimately, we strive to provide a complete investment management package combining estate planning and financial advice specifically customized to meet each client's needs and goals. See also Item 10 — Other Financial Industry Activities and Affiliations. The Company provides continuous advice to a client regarding the investment of client funds based on the individual needs of the client.

Through personal discussions and the completion of a Client Investment Profile in which goals and objectives based on a client's particular circumstances are established, the Company develops a client's personal investment policy and creates and manages a portfolio based on that policy. The Company will manage advisory accounts on both a discretionary and non- discretionary basis. Account supervision is guided by the stated objectives of the client (i.e., maximum capital appreciation, growth, income, or growth and income). The Investment Advisers Act of 1940 (the “Advisers Act”) establishes a federal fiduciary duty for investment advisors such as the Company. The Company’s fiduciary duty under the Advisers Act comprises a duty of care and a duty of loyalty. The duty of care includes, among other things, the duty to provide investment advice that is in the best interests of the client and includes a duty to provide advice suitable for each client, a duty of best execution where the Company has the responsibility to select broker-dealers to execute client trades (See Item 12), and the duty to provide advice and monitoring at a frequency that is in the best interests of the client. The duty of loyalty requires that the Company not subordinate its clients’ interests to its own and requires the Company to make full and fair disclosure to all clients of material facts relating to the advisory relationship, including any possible conflicts of interest. As of December 31, 2023, the Company managed, $294,814,639 of client assets on a discretionary basis, and $49,457,867 on a non-discretionary basis.