Maslow Wealth Advisors ("MWA") is a SEC-registered investment adviser with its principal place of business located in Texas. MWA (formerly Durbin Bennett Peterson Private Wealth Management, LLC) began conducting business in 2001.
Listed below are the firm's equity shareholders:
•Richard Baldwin Bennett, Member/Partner
•Matthew Paul Jachimiak, Chief Investment Officer/Managing Member/Partner
•Paul Darter Lueb, Jr, Member/Partner
•Tylor Bordelon Seaman, Chief Executive Officer/Chief Compliance Officer/Managing Member
•Ashley Kilgust, Managing Member/Partner
•Angela Smith, Member/Partner
•Kevin R. Tiernan, Member/Partner
•Kathryn Turnham Brown, Member/Partner MWA offers the following advisory services to our clients: 1. INVESTMENT SUPERVISORY SERVICES - INDIVIDUAL PORTFOLIO MANAGEMENT provides advice to a client regarding the investment of client funds based on the individual needs of the client. We provide discretionary and non-discretionary asset management services and investment consulting services to high-net-worth individuals, trusts, estates, foundations, endowments and other related entities. We manage portfolios of financial assets for clients that may include but is not limited to equities and fixed income securities, mutual funds, exchange traded funds, separate accounts, and private funds, including hedge funds, private equity investments and limited partnerships. These private funds will generally be managed by third-- party, professional portfolio managers ("Money Managers").
MWA's portfolio management services are tailored to the individual needs and particular circumstances of the client. Through personal consultations, we typically develop a personalized, documented Investment Policy Statement (IPS). The IPS articulates the client's investment objectives, time horizons, risk tolerance, liquidity needs, and other considerations important to managing the client's assets. We provide portfolio management services in the context of the client's overall wealth and financial situation, including outside accounts that are not managed by . The client's portfolio is implemented and managed by the criteria defined in the IPS.
Clients may impose reasonable restrictions on investing in certain securities, types of securities, or industry sectors. Clients will retain individual ownership of all securities.
INVESTMENT PHILOSOPHY Overview MWA constructs globally diversified portfolios to help generate long term appreciation while weathering changing market conditions. strategically and tactically constructs portfolios according to our clients' Investment Policy Statement, which outlines their needs, goals, and risk tolerances. The investment philosophy 4 and process are continuously scrutinized by the firm's internal investment committee and research staff. Through rigorous due diligence, MWA endeavors to provide access to proven and progressive investment management approaches and strategies for our clients.
Core Tenets Markets are efficient over the long term, however, over the short term, believes that markets can be irrational or inefficient. Due to this belief, constructs portfolios that have more passive "core" and more active "satellite" components. The balance between core/satellite is determined through a series of suitability discussions between the client and .
MWA believes that rebalancing is one of the keys to long-term portfolio performance. Rebalancing forces a client to trim asset classes that have performed well and reallocate those dollars into asset classes that have underperformed on a relative basis. Ultimately, employs a sell high and buy low strategy. Rebalancing also helps to keep the overall risk, as measured by standard deviation, within a specific band.
Rebalancing is performed as needed and is reviewed no less than quarterly. MWA adheres to predetermined tolerance ranges for various assets classes. Observing tolerance ranges for rebalancing decisions helps to limit transactions costs as well as capital gain generation within client portfolios.
MWA believes that net return (net of trading fees, market slippage, and taxes) rather than gross return is a more accurate representation of the performance our clients care most about. As such, when trades are performed in client accounts, we look to capture losses when possible, but if not, long term gains are preferable over short term gains. Additionally, when we construct client portfolios, we look to locate tax dis-- advantaged assets (income strategies) within tax deferred accounts (IRAs) to reduce any tax impacts.
Portfolio Implementation MWA utilizes an allocation model that segments assets into three primary asset classes: Traditional Equities, Traditional Fixed Income, and Satellites (Alternatives). Those three primary asset classes further break down into more specific sub asset classes, including: traditional fixed income, traditional equities, real assets (i.e., private real estate and natural resources), and alternatives (i.e., private equity, equity alternatives, and fixed income alternatives). Each asset class provides specific beneficial characteristics to a client portfolio.
Traditional Fixed income includes both domestic and international/emerging market long- only bonds, as well as sovereign and corporate debt. This asset class is added as a risk mitigation and income generation strategy. This asset class can be thought of as deflation hedge and tends to have low to moderate volatility.
Traditional Equities includes public and private equity of domestic and international/emerging market companies. This asset class adds long-term appreciation with the potential of income generation. Equities have historically captured the return associated with general global economic growth. This asset class tends to have high volatility.
Real Assets include both public and private investments that tend to have physical assets represented as the underlying investment. Examples would include private real estate, commodities, and energy. This asset class can be thought of as an inflation hedge along with the potential for income generation. Real Assets tend to have moderate to high volatility characteristics.
Alternatives include those strategies that do not logically fit into the previous asset classes. Examples would include global macro, event strategies, currency, and volatility. These strategies are used with the premise that they have little to no market correlation and can help provide some protection in volatile markets. This asset class tends to have low to moderate volatility characteristics.
Beyond the two primary asset classes and subsequent sub-asset classes, takes into account two additional factors: liquidity and domicile. Liquidity is the understanding of how quickly a client's portfolio can be liquidated in times of market stress. We believe that allocations to semi-liquid and illiquid assets can be beneficial for 5 certain clients, but we also believe that having too much in illiquid assets can present other risks to clients. Domicile is the understanding of where a client portfolio is allocated globally. maintains relative balance between investments made domestically versus internationally.
2. SELECTION AND MONITORING SERVICES MWA provides several advisory services separately or in combination. Our Selection and Monitoring Services are comprised of three distinct services. Clients may choose to use any or all of these services.

•Investment Policy Statement Preparation (hereinafter referred to as IPS): We will meet with the client (in person, video, or over the telephone) to determine the client's investment needs and goals. We will then prepare a written IPS stating those needs and goals and encompassing a policy under which these goals are to be achieved. The IPS will also list the criteria for selection of investment vehicles and the procedures and timing interval for monitoring of investment performance.

•Selection of Investment Vehicles: We will review various investments, consisting of mutual funds and ETFs (both index and managed; separate accounts and private funds if appropriate) to determine which of these investments are appropriate to implement the client's IPS. The number of investments to be recommended will be determined by the client, based on the IPS.

• Monitoring of Investment Performance: For clients that engage us for performance monitoring, client investments will be monitored continuously based on the procedures and timing intervals delineated in the IPS. Although we will not be involved in any way in the purchase or sale of these investments, we will supervise the client's portfolio and make recommendations to the client as market factors and the client's needs dictate.
3. INVESTMENT ADVISEMENT SERVICES Adviser will provide ongoing access to the firm's investment committee for basic investment analysis. For an additional project fee (to be negotiated based on an estimated

time commitment), the firm will also provide project- or investment-specific detailed analysis.
Adviser also provides Client with a login for its portfolio accounting software and where applicable to its financial planning software where Client can view account values and performance data on-demand for the period (or from the opening of the Account(s)). Client can elect to review their accounts, including their outside accounts, in a consolidated format. If requested by Client, Advisor will make available quarterly reports either via email or by hardcopy mail.
Adviser will provide ongoing access to private deals and investment opportunities that are presented to the firm. The firm reserves the right to limit or restrict the amount of the investment based on sizing estimates by the investment committee for the firm's managed assets.
4. STRATEGIC WEALTH PLANNING We provide financial planning services termed Strategic Wealth Plan (SWP). This service includes a general review of a client's financial matters, including retirement needs, cash flow, investments, insurance, and tax matters. Generally, the SWP is designed to be a financial model to assist the client in making current and future financial decisions to achieve or maintain financial independence.
A SWP may help the client in one or more of the following: (i) determining accumulation of assets needed for retirement, (ii) developing current and future spending budgets, (iii) quantifying and planning for educational funding or other significant life events, (iv) identifying insurance or risk management needs, (v) determining a general investment allocation needed to meet financial objectives, (vi) identifying estate planning needs, and (vii) addressing other related financial issues. Specific recommendations may be developed based on this 6 planning. Should the client choose to implement the recommendations contained in the plan, we suggest the client work closely with his/her attorney, accountant, insurance agent, and/or financial consultant. Implementation of the SWP recommendations is entirely at the client's discretion.
Clients may elect to add more advanced-planning services that may include additional estate planning or tax planning services, asset management, 401k management, retirement plan advisory services, and/or any of the other advisory services offered by the Advisor. With these services, clients have the option of receiving financial planning services for a bundled fee, which could include the development of comprehensive estate planning documents (trusts, wills, power of attorneys, advance medical directives, etc.) prepared by an attorney with whom the Advisor has a relationship, advanced tax planning including preparation of tax returns by an accountant associated with a firm affiliated with the Advisor, or other advanced financial planning services. Services may also include asset management, 401k plan management, retirement plan advisory services, among other things. Each service selected by a client will be specified in the Investment Services Agreement a client signs with our firm. Clients engage affiliated and unaffiliated service providers separately and in their sole discretion.
The SWP may be used as a dynamic model and updated periodically. The scope and term of the planning are agreed upon in advance with the client.
5. IRA ROLLOVER CONSIDERATIONS As part of our investment advisory services to you, may recommend that you withdraw the assets from your employer's retirement plan and roll the assets over to an individual retirement account (IRA) that will manage on your behalf. If you elect to roll the assets to an IRA that is subject to our management, will charge you an asset-based fee as set forth in the agreement you executed with the firm. This practice presents a conflict of interest because persons providing investment advice on behalf of have an incentive to recommend a rollover to you for the purpose of generating fee-based compensation rather than solely based on your needs. You are under no obligation, contractually or otherwise, to complete the rollover. Moreover, if you do complete the rollover, you are under no obligation to have the assets in an IRA managed by .
6. CONSULTING SERVICES Clients can also receive investment advice on a specific item. This may include advice on an isolated area(s) of concern such as estate planning, retirement planning, risk management, or any other particular topic. We also provide specific consultation and administrative services regarding investment and financial concerns of the client.
Consulting recommendations are not limited to any specific product or service offered by a broker dealer or insurance company. All recommendations are of a generic nature.
In certain limited situations as the client's needs dictate, we may also develop and implement hedging transactions or other unique investment strategies on assets held in a client's portfolio.
7. SUB ADVISORY SERVICES Under an Investment Sub-Advisory Agreement dated August 1, 2012, between ("Subadvisor") and SALI Fund Management, LLC ("Investment Advisor"), Investment Advisor appointed Subadvisor to act as an investment sub-advisor to the Zilker Diversified Insurance Dedicated Fund Series Interests of the SALI Multi-Series Fund, L.P. (the "Fund"). The Fund is an interest in the SALI Multi-Series Fund, L.P., a Delaware limited partnership ("Partnership"). Pursuant to the Sub-Advisory Agreement, Subadvisor is responsible for: conducting initial and ongoing due diligence on the underlying funds, managers, and investment strategies; monitoring the performance of all underlying investments and making changes to the investments, including allocations, as necessary; providing an investment mandate, which describes the investment style, and details of the potential risks associated with investments in the Fund; assisting the Investment Advisor in the creation of marketing materials and, as appropriate, providing periodic client service communication, typically a narrative on past performance and outlook on future directions.
7 The Partnership's General Partner, SALI Fund Partners, LLC (the "General Partner"), exercises ultimate authority over the Partnership and is responsible for its day-to-day operations. Investments in the Partnership are available only to insurance company investors on behalf of certain of their segregated separate accounts for owners of variable life insurance and variable annuity contracts.
Under an Investment Sub-Advisory Agreement dated 11/15/2023, between ("Sub Advisor") and Spearhead Administrative Services, L.P. ("Investment Advisor"), Investment Advisor appointed Subadvisor to act as an investment sub-advisor to the Services that relate to Zilker I & II. Both Zilker I & II are managed by Spearhead Administrative Services in the same way that Zilker Diversified is managed by SALI. The series supplement to the Confidential Private Offering Memorandum of the Zilker Series I and Zilker Series II interests of the Spearhead Administrative Services, L.P. provides a description of the fees to be charged. Spearhead Administrative Services, LLC will charge a fee to the fund and then pay a portion of that fee to MWA for its investment sub advisory services. MWA will not charge its clients a fee for assets invested in this fund.
8. Independent Manager Services MWA may select or recommend a third party investment manager (the "Independent Managers") to actively manage a portion of a client's assets. Independent Managers may provide advice to our clients either through a separately managed account over which the Independent Manager is granted discretion by the firm or the client (the "SMAs"), or through model portfolios developed by an Independent Manager that either the firm or its clients select (the "Models"). Independent Managers are engaged either through an agreement between the firm and the Independent Manager, or in a separate written agreement between the Independent Manager and the client, which is in addition to the agreement entered into between the client and . will serve as the client's primary advisor, assisting and advising the client in establishing investment objectives for the account(s), the selection of the Independent Manager(s), defining any client investment restrictions and other support with respect to the account[s]. The Independent Manager(s)will have responsibility for the day-to-day discretionary management of the investments in the account(s) and will manage the account(s) consistent with the stated mandates of the Models.
The Independent Manager may assume responsibility for fee billing, and fees are generally billed separately from fees charged by . will not receive different levels of compensation or any additional fees depending on the Independent Manager selected. AMOUNT OF MANAGED ASSETS As of December 31, 2023, we were actively managing $1,483,309,197 of clients' assets on a discretionary basis and $274,769,864 of clients' assets on a non-discretionary basis.