Description of Services and Fees Hanover Advisors, Inc. is a registered investment adviser based in Clemson, SC. We are organized as a corporation under the laws of the State of Georgia. We have been providing investment advisory services since 1989. Stephen F. Molyneaux is the principal owner. Currently, we offer portfolio management services, financial planning and pension consulting services which are personalized to each individual client. The following paragraphs describe our services and fees. Please refer to the description of each investment advisory service listed below for information on how we tailor our advisory services to your individual needs. As used in this brochure, the words "we", "our" and "us" refer to Hanover Advisors, Inc. and the words "you", "your" and "client" refer to you as either a client or prospective client of our firm. Also, you may see the term Associated Person throughout this brochure. As used in this brochure, our Associated Persons are our firm's officers, employees, and all individuals providing investment advice on behalf of our firm. Portfolio Management Services We offer discretionary portfolio management services. Our investment advice is tailored to meet our clients' needs and investment objectives. If you retain our firm for portfolio management services, we will work with you to determine your investment objectives, risk tolerance, and other relevant information (the "suitability information") at the beginning of our advisory relationship. We will use the suitability information we gather to develop a strategy that enables our firm to provide continuous and focused investment advice and to make investments on your behalf. As part of our portfolio management services, we will customize an investment portfolio for you in accordance with your risk tolerance and investing objectives. We may also invest your assets using a predefined strategy developed by our firm. Once we construct an investment portfolio for you, we will monitor your portfolio's performance on an ongoing basis, and will rebalance the portfolio as required by changes in market conditions and in your financial circumstances. If you participate in our discretionary portfolio management services, we require you to grant our firm discretionary authority to manage your account. Discretionary authorization will allow our firm to determine the specific securities, and the amount of securities, to be purchased or sold for your account without your approval prior to each transaction. Discretionary authority is typically granted by the investment advisory agreement you sign with our firm, a limited power of attorney, or trading authorization forms. In providing discretionary management services, we do not accept client restrictions on the specific securities or the types of securities that may be held in their account. Financial Planning We also have made arrangements with Frank Johnson, and Larry Burnette who are licensed to provide health insurance and life insurance (collectively “Consulting Associates”) in order to provide broader investment and financial planning services to our clients. In their role as consulting associates, they will not engage in advising clients as to securities matters. They will only deal with insurance matters. Please refer to the “Other Financial Industry Activities and Affiliations” section in this brochure for more information on this arrangement and applicable conflicts of interest. Pension Consulting We offer various levels of advisory and consulting services to employee benefit plans (“Plans”) and to the participants of such plans (“Participants”). The services are designed to assist plan sponsors (“Plan Sponsors”) in meeting their management and fiduciary obligations to the Participants under the Employee Retirement Income Securities Act (“ERISA”) and the Pension Protection Act of 2006 (“PPA”). Generally, investment advice provided to Plan Sponsors and Participants is also regulated under ERISA and the PPA. We will provide services to Plan Sponsors and their Participants in the form of education services to Plan committees, Participant education services, developing an investment policy statement, providing investment recommendations and performance monitoring, selection of Qualified Default Investment Alternative (“QDIA”), and providing general information about the Plan to Plan Sponsors and Participants. Plan Sponsors must make the ultimate decision to retain us for pension consulting and other advisory services including, but not limited to, services at the Participant level. The Plan Sponsor is free to seek independent advice about the appropriateness of any recommended services for the Plan. Our annual portfolio management fee is billed and payable quarterly in arrears based on the value of your account on the last day of the quarter. Tax-Free Income Accounts The primary objective is to provide tax-free income through the purchase of individual municipal bonds. The income may be in the form of periodic payments or, in the case of a zero-coupon municipal bond, the interest accrues and is paid at maturity. This should be considered a long-term strategy with bond purchases made with the intention of holding the bonds until maturity. A bond may be sold before maturity date due to anticipated or actual changes in the bond’s credit rating by any of the major credit rating agencies, actual or anticipated changes in interest rates, actual or anticipated changes in income tax rates, changes in a client’s individual circumstances and any other circumstance in which Hanover Advisors may deem necessary. If, in the opinion of Hanover Advisors, suitable municipal bonds are not available,

then we reserve the right to make investments in financial instruments other than municipal bonds to generate tax-free income. In certain circumstances, we may utilize exchange-traded funds (“ETFs”), money market funds, closed-end mutual funds, unit investment trusts, open-end mutual funds, and any other financial instrument deemed suitable for providing tax-free income. Annual fee of 0.25% will be charged on the Tax-Free Income Account. The prorated amount will be debited from the account at the end of each quarter. If the portfolio management agreement is executed at any time other than the first day of a calendar quarter, our fees will apply on a pro rata basis, which means that the advisory fee is payable in proportion to the number of days in the quarter for which you are a client. We may combine the account values of family members living in the same household to determine the applicable advisory fee. For example, we may combine account values for you and your minor children, joint accounts with your spouse, and other types of related accounts. Combining account values will increase the asset total, which may result in your paying a reduced advisory fee based on the available breakpoints in our fee schedule stated below. We may also combine account values for fee purposes for other groups of clients. Generally, our fees are not negotiable. We will deduct our fee directly from your account at the qualified custodian holding your funds and securities although you may pay us directly if you direct us to invoice you. We will deduct our advisory fee only when you have given our firm written authorization permitting the fees to be paid directly from your account. Further, the qualified custodian will deliver an account statement to you at least quarterly. These account statements will show all disbursements from your account. You should review all statements for accuracy. You may terminate the portfolio management agreement upon written notice to our firm. You will incur a pro rata charge for services rendered prior to the termination of the portfolio management agreement, which means you will incur advisory fees only in proportion to the number of days in the quarter for which you are a client. IRA Rollover Recommendations For the purpose of complying with the DOL's Prohibited Transaction Exemption 2020-02 ("PTE 2020-02"), when applicable, we are providing the following acknowledgment to clients. When we provide investment advice to clients regarding their retirement plan account or individual retirement account, we are a fiduciary 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. The way we make money creates some conflicts with client interests. We operate under an exemption that requires we act in the clients’ best interest and not put our or our employees’ interests ahead of the clients. Under this exemption, we must:
• meet a professional standard of care when making investment recommendations (give prudent advice),
• never put our or our employees’ financial interests ahead of the clients when making recommendations (give loyal advice),
• avoid making misleading statements about conflicts of interest, fees, and investments,
• follow policies and procedures designed to ensure that we and our employees give advice that is in the clients’ best interest,
• charge no more than is reasonable for services, and
• give the clients basic information about conflicts of interest. We benefit financially from the rollover of the clients’ assets from a retirement account to an account that we manage or provide investment advice, because the assets increase our assets under management and, in turn, our advisory fees. As a fiduciary, we only recommend a rollover when our and our employees believe it is in the clients’ best interest. Wrap Fee Program We offer a Wrap Fee Program whereby we pay the transaction charges for all of our clients who participate in our wrap fee program. Clients participating in a wrap fee arrangement pay a single fee for advisory, brokerage and custodial services. We do not pass this charge through to the client, nor do we increase our fee in order to compensate for these charges. We absorb the transaction charges as a business expense. More information about the Wrap Fee Program can be found in our Wrap Fee Brochure ADV Part 2A, Appendix 1. The overall cost you will incur if you participate in our wrap fee program may be higher or lower than you might incur by paying transaction costs separately. To compare the cost of the wrap fee program with non- wrap fee portfolio management services, you should consider the frequency of trading activity associated with our investment strategies, the brokerage commissions charged other broker/dealers, and the advisory fees charged by investment advisers. We will review with clients any separate program fees that may be charged to clients. There is no difference in how wrap fee accounts are managed. All accounts are managed in the same manner, as disclosed in our Brochure ADV Part 2A and in our Wrap Fee Brochure ADV Part 2A, Appendix 1. Types of Investments We primarily offer advice on stock, bonds, ETFs, mutual funds, closed-end funds, and option securities. Additionally, we may advise you on any type of investment that we deem appropriate based on your stated goals and objectives. We may also provide advice on any type of investment held in your portfolio at the inception of our advisory relationship. Assets Under Management As of December 31, 2023, we managed $300,785,387 in client assets on a discretionary basis and $1,757,396 in client assets on a non-discretionary basis.