9AT: FIDUCIARY COUNSELORS INC.

FIDUCIARY COUNSELORS INC.

FIDUCIARY COUNSELORS INC.

AON FIDUCIARY COUNSELORS INC.

ASA FIDUCIARY COUNSELORS INC

Adviser Profile

As of Date	03/31/2026
Registration	SEC, Approved, 11/29/1999
ADV Location	WASHINGTON, DC, United States
Contact Info	202 xxxxxxx
Websites

AUM^*	20,348,264,544 40%
of that, discretionary	19,778,597,742 44%
Number of Employees	8
of those in investment advisory functions	6
Private Fund GAV^*	0
Avg Account Size	1,565,251,119 30%
SMA’s	Yes
Private Funds	0

Adviser Type

- Large advisory firm

Client Types

- Pension and profit sharing plans

Advisory Activities

- Portfolio management for businesses
- Pension consulting services
- Selection of other advisers

Compensation Arrangments

- Hourly charges
- Fixed fees (other than subscription fees)

Reported AUM

20B 17B 14B 11B 8B 6B 3B

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Discretionary

Non-discretionary

Private Funds

No private funds

Employees

Brochure Summary

Overview

Fiduciary Counselors is a privately-held pension consultant firm that primarily acts as independent fiduciary for pension funds managing specific assets or funds under the Employee Retirement Income Security Act of 1974 (“ERISA”). These assets or funds include publicly-traded securities (including employer-issued securities), non- publicly traded securities, and real estate. The Company advises plan fiduciaries and employers with respect to fiduciary requirements both generally and with respect to various types of investments, some of which are securities and some of which are other assets such as real estate. The Company acts as independent fiduciary with respect to the selection of an insurance carrier(s) and contract in annuity transactions, litigation settlements and in reviewing investment managers and processes. The Company also provides more general pension and employee benefits consulting and administration, often in connection with corporate transactions

and bankruptcy. Prior to its incorporation in 1999 in Delaware, Fiduciary Counselors operated as a business unit within Actuarial Sciences Associates (“ASA,” now Aon Consulting of New Jersey, Inc.). ASA commenced operations in 1985 as a wholly owned subsidiary of AT&T Inc. providing benefit consulting services to AT&T Inc. and other large clients, including advice on fiduciary issues. In July 2003, Fiduciary Counselors was purchased in a management-led buyout and is now an independent entity. The Company is wholly owned by its senior executives and former employees. As of December 31, 2023, Fiduciary Counselors managed over $14 billion in client assets on a discretionary basis. For those assets, we have full discretion in determining whether to hold or sell assets under our management without client input or other client imposed limitations. As of December 31, 2023, the Company also had non- discretionary assets under management of over $712 million.

FIDUCIARY COUNSELORS INC.

FIDUCIARY COUNSELORS INC.

AON FIDUCIARY COUNSELORS INC.

ASA FIDUCIARY COUNSELORS INC

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Brochure Summary

Overview

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FIDUCIARY COUNSELORS INC. FIDUCIARY COUNSELORS INC. AON FIDUCIARY COUNSELORS INC. ASA FIDUCIARY COUNSELORS INC

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Brochure Summary

Overview

FIDUCIARY COUNSELORS INC.

FIDUCIARY COUNSELORS INC.

AON FIDUCIARY COUNSELORS INC.

ASA FIDUCIARY COUNSELORS INC