Description of the Firm FSAG is an Illinois corporation founded in 2003, with its principal place of business in Illinois. FSAG is registered with the U.S. Securities and Exchange Commission (SEC). FSAG's principal shareholders (i.e., those individuals or entities controlling 25% or more of the firm) are: Scott J. Munkvold, Principal, Co-Founder; Mark C. Soehn, Principal, Co-Founder; and Scot A. Jurczyk, Principal, Co-Founder. FSAG offers its services to individuals, corporations and other business entities, pension and profit sharing plans, and trusts. Investment Advisory Services and Individual Portfolio Management Our firm provides continuous and ongoing investment advice to a client regarding the investment of client funds based on the individual needs of the client. Through personal discussions in which goals and objectives based on a client's particular circumstances are established, we develop a client's personal investment policy and create and manage a portfolio based on that policy. During our data-gathering process, we determine 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, as well as family composition and background. Clients may impose reasonable restrictions and guidelines on investing in certain securities, types of securities or industry sectors. We expect all such restrictions to be timely communicated to us. We also expect clients to inform us of any changes to their financial circumstances, investment objectives or risk tolerance, or of any modifications or restrictions that should be imposed on the management of the client's account. In this manner, FSAG can better serve our clients' needs. Account management and supervision is guided by the client's stated objective, reasonable restrictions and guidelines, and market conditions. We manage clients' investment accounts on a discretionary and non-discretionary basis. Once we construct an investment portfolio for a client, we will monitor the portfolio's performance on an ongoing and continuous basis, unless otherwise agreed, and will make adjustments and reallocations as necessary due to changes in market conditions and the client's financial circumstances. For our discretionary asset management services, FSAG will receive a limited power of attorney to effect securities transactions on behalf of a client. This will allow us to determine the specific securities (subject to client restrictions) and the amount of securities to be sold in a client's accounts without prior client approval. The client may limit our discretionary authority by providing us with a writing which details restrictions and other guidelines. In addition, our authority will always be subject to the client's stated investment objectives and goals. We explore different types of investment options and strategies in the design of a client's portfolio. Our investment recommendations are not limited to any specific product or service offered by a broker-dealer or insurance company and will generally include, but not necessarily be limited to, advice regarding the following securities:
• Exchange-listed securities;
• Securities traded over-the-counter;
• Foreign issuers;
• Corporate debt securities (other than commercial paper);
• Certificates of deposit;
• Municipal securities;
• Mutual fund shares;
• United States governmental securities Each type of security has its own unique set of risks associated with it, and it would not be possible to list here all of the specific risks of every type of investment. Even within the same type of investment, risks can vary widely. However, in very general terms, the higher the anticipated return of an investment, the higher the risk of loss associated with it. Because some types of investments involve certain additional degrees of risk, they will only be implemented/recommended when consistent with the client's stated investment objectives, tolerance for risk, liquidity and suitability. Financial Planning Services We provide financial planning services. Financial planning is a comprehensive evaluation of a client's current and future financial state by using currently known variables to predict future cash flows, asset values and withdrawal plans. Through the financial planning process, all questions, information and analysis are considered as they impact and are impacted by the entire financial and life situation of the client. Clients purchasing this service receive a written report which provides the client with a detailed financial plan designed to assist the client achieve his or her financial goals and objectives. In general, the financial plan can address any or all of the following areas:
• Personal: We review family records, budgeting, personal liability, estate information and financial goals.
• Tax & Cash Flow: We analyze the client's income tax and spending and planning for past, current and future years; then illustrate the impact of various investments on the client's current income tax and future tax liability. We do not provide tax advice or accounting.
• Investments: We analyze investment alternatives and their effect on the client's portfolio.
• Insurance: We review existing policies to ensure proper coverage for life, health and long-term care when requested to do so.
• Retirement: We analyze current strategies and investment plans to help the client achieve his or her retirement goals.
• Death: We review the client's cash needs at death, income needs of surviving dependents and estate planning.
• Estate: We assist the client in assessing and developing long-term strategies, including as appropriate, living trusts, wills, review estate tax, powers of attorney and asset protection plans. We do not

provide estate planning. We gather required information through in-depth personal interviews. Information gathered includes the client's current financial status, tax status, future goals, returns objectives and attitudes towards risk. We carefully review documents supplied by the client, including a questionnaire completed by the client, and prepare a written report. 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 adviser. FSAG does not provide tax advice or legal advice. Implementation of financial plan recommendations is entirely at the client’s direction. Financial plans are based on the client's financial situation at the time we present the financial plan to the client, and on the information provided to us. The client must promptly notify us if his/her financial situation, goals, objectives or needs change. Certain assumptions may be made with respect to interest, inflation rates, and use of past trends and performance of the market and economy. Past performance is in no way an indication of future performance. We cannot offer any guarantees or promises that a client's financial goals will be met. Financial planning recommendations· are not limited to any specific product or service offered by a broker-dealer or insurance company. Typically the financial plan is presented to the client within one month of becoming a financial planning client, provided that all information needed to prepare the financial plan has been promptly provided by the client. Publication of Periodicals FSAG publishes a quarterly newsletter providing general information on various financial topics including, but not limited to, estate and retirement planning, market trends, etc. No specific investment recommendations are provided in this newsletter, and the information provided is not intended and does not purport to meet the objectives, needs or targets of any client or individual. Absent specific advice or services provided by FSAG, clients should not rely upon the information contained in the newsletter. This newsletter is distributed free of charge to our advisory clients, prospects and other professionals. Pension and Profit-Sharing Plan Consulting and Education FSAG provides consulting and education services to profit-sharing, pension plans and other qualified plans (each a "plan" for purposes of these services). These services include one or more of the following: reviewing, on a quarterly or greater basis, the mutual funds and equities included in the plan; monitoring mutual fund and equities performance and management; researching and identifying mutual funds and equities; reporting to the investment committee or other fiduciary of the plan regarding the performance of the plan; making recommendations to the committee and/or fiduciary regarding the selection of investments (including, but not necessarily limited to, mutual funds and equities) which the plan should offer, or continue to offer or cease offering, to plan participants; analyzing current and historical performance of investment selections; analyzing investment strategies, asset allocations and portfolio assessment; and meeting(s) with the investment committee and/or other fiduciaries. Such services would generally include a review by FSAG of the plan's investment objectives, policies, instructions, limitations and/or designations, as well as annual (or more frequent) meetings with the investment committee and/or fiduciary of the plan. FSAG's recommendations would generally be limited by the investment committee's and/or fiduciary's direction, requests and selected strategies, asset allocations, and portfolio management. These services are generally provided for a specific number of hours per quarter or per year. The specific services to be provided to the plan by FSAG will be set forth in a written agreement between the parties. The specific number of hours for which FSAG will provide these services to the plan will also be set forth in this written agreement. Consulting and education services are provided on a non-discretionary basis, with the plan retaining the sole discretion to implement or disregard our recommendations and counsel. FSAG does not provide investment advisory and portfolio management services to a plan in conjunction with or as part of the consulting and education services unless the plan engages FSAG to provide investment advisory and portfolio management services. Generally in conjunction with the consulting services described above, FSAG provides investment education to individual plan participants and/or the investment committee generally on an hourly basis as requested by the plan and/or the participant. Such education services are generally provided on a limited basis, and include FSAG providing information about the investment selections then available to the participant. These education services are generally provided for a specific number of hours per quarter or per year. The specific services to be provided to plan participants by FSAG will be set forth in a written agreement between the parties. The specific number of hours for which FSAG will provide these education services will also be set forth in this written agreement. FSAG does not provide investment advisory and portfolio management services to a plan participant in conjunction with or as part of the education services unless the participant engages FSAG to provide investment advisory and portfolio management services. FSAG may provide other consulting, education and/or monitoring services to a plan as agreed upon by the parties. Amount of Assets Under Management As of December 31, 2023, FSAG was actively managing $700,000,000.00 of clients' assets on a discretionary basis and $30,000,000.00 on a non-discretionary basis.