General Information Smith, Salley & Associates, LLC dba Smith Salley Wealth Management (“we,” “our,” “us,” or “the firm”) was formed in 2003, and provides financial planning and portfolio management services to its clients. G. Mackay Salley and G. Gregory Smith, Jr. co-founded Smith Salley Wealth Management and Mr. Smith is the firm’s principal owner. Please see Brochure Supplements, Exhibit A, for more information on these and other individuals who formulate investment advice and have direct contact with clients, or have discretionary authority over client accounts. As of December 31, 2023, we managed $3,060,708,901 on a discretionary basis, and $607,233 on a non-discretionary basis. SERVICES PROVIDED We offer holistic Wealth Management services which include a comprehensive financial planning review, analysis and recommendations, combined with ongoing portfolio management. In these situations, we will provide financial planning services (as described below), initial and ongoing asset allocation advice (by account and overall), coordination of input from your other financial professionals, and management of your portfolio. We also provide stand-alone Portfolio Management services if you do not require comprehensive services. In these instances, we work with you to design a suitable investment portfolio, spending time with you, asking questions, discussing your investment experience and financial circumstances, and broadly identifying your major goals. Financial Planning Financial planning generally includes advice that addresses one or more areas of your financial situation, risk management, budgeting and cash flow controls, retirement planning, education funding, investment portfolio design and if needed, insurance evaluation, tax strategies and estate planning consultation. Depending on your situation, financial planning may include some or all of the following:
• Gathering factual information concerning your personal and financial situation;
• Assisting you in establishing financial goals and objectives;
• Analyzing your present situation and anticipated future activities in light of your financial goals and objectives;
• Identifying problems foreseen in the accomplishment of these financial goals and objectives and offering alternative solutions to the problems;
• Making recommendations to help achieve retirement plan

goals and objectives;
• Estate Plan review
• Designing an investment portfolio to help meet your goals and objectives;
• Assessing risk and reviewing basic health, life and disability insurance needs; or
• Reviewing goals and objectives and measuring progress toward these goals. Financial Planning is typically provided in conjunction with Wealth Management services; no separate fee is assessed for this service. Portfolio Management At the beginning of a client relationship, we meet with you, gather information, and perform research and analysis. Based on all the information initially gathered, we generally develop with you:
• a risk tolerance level based on your future goals and needs for the assets we manage or other assets not under our management if applicable, and;
• an investment objective and guidelines designed to match your risk tolerance and meet your future goals. We will update your risk tolerance and investment objective from time to time upon your request, or when we determine it to be necessary or advisable based on updates to your financial or other circumstances. To implement your investment portfolio, we will manage your investments on a discretionary basis. As a discretionary investment adviser, we will have the authority to supervise and direct the portfolio without prior consultation with you. Retirement Plan/Account Rollovers We are fiduciaries under the Investment Advisers Act of 1940 and when we provide investment advice to you regarding your retirement plan account or individual retirement account, we are also fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. We have to act in your best interest and not put our interest ahead of yours. If we recommend that you transfer an existing IRA or roll over your retirement plan assets into an account to be managed by us, such a recommendation creates a conflict of interest if we will earn a new (or increase our current) advisory fee because of the transfer/rollover. Investing in an IRA with us will typically be more expensive than an employer-sponsored retirement plan. You are under no obligation to transfer or roll over plan assets to an IRA managed by us or to engage us to monitor and/or manage the account while maintained at your employer.