General Information Anchor Investment Management, LLC (“Anchor”) was formed in 2000, and provides portfolio management services to its clients. W. Patrick Dorn, Jr. (principal owner, as defined), John Moorman, Margaret Ellen Pender and Joy Watkins are the majority owners of Anchor. Please see Brochure Supplements, Exhibit A, for more information on these individuals and others who formulate investment advice and have direct contact with clients or have discretionary authority over client accounts. As of December 31, 2023, Anchor managed $1,156,990,200 on a discretionary basis, and $14,615,870 on a non-discretionary basis. SERVICES PROVIDED At the outset of our relationship, we spend time with you, asking questions, discussing your investment experience and financial circumstances, and reviewing options for you. Based on our reviews, we generally develop with you:
• a financial outline for you based on your financial circumstances and goals, and your risk tolerance level (the “Financial Profile” or “Profile”); and
• your investment objectives and guidelines (the “Investment Policy Statement, or “IPS”). The Financial Profile is a reflection of your current financial picture and a look to your future goals, and may not be a separate, written document. The IPS outlines the types of investments we will make or recommend on your behalf to meet those goals, and is a written document. The Profile and the IPS are discussed regularly with you, and are updated as necessary to reflect changes in your financial circumstances. Where we provide Retirement Plan Advisory services, we will work with the Plan Sponsor to prepare an appropriate summary of the specific project(s) to the extent necessary or advisable under the circumstances. Portfolio Management As described above, at the beginning of our relationship, we meet with you, gather information and perform research and analysis as necessary to develop your IPS. The IPS will be updated from time to time when requested by you, or when determined to be necessary or advisable by us based on updates to your financial or other circumstances. Portfolio Management services include limited financial planning as needed. To implement your IPS, we will manage your investment portfolio on a discretionary or a non- discretionary basis. As a discretionary investment adviser, we will have the authority to supervise and direct your portfolio without prior consultation with you. Under non-discretionary arrangements, you must be contacted prior to the execution of any trade in the account(s) under management. This may result in a delay in executing recommended trades, which could adversely affect the performance of your portfolio. This delay also normally means the affected account(s) will not be able to participate in block trades, a practice designed to enhance the execution quality, timing and/or cost for all accounts included in the block. In a non-discretionary arrangement, you retain the responsibility for the final decision on all actions taken with respect to your portfolio. Notwithstanding the foregoing, you may impose certain written restrictions on us in the management of your investment portfolio, such as prohibiting the inclusion of certain types of investments in your investment portfolio or prohibiting the sale of certain investments held in the account at the commencement of the relationship. You should note, however, that restrictions imposed by you may adversely affect the composition and performance of your investment portfolio. You should also note that your investment portfolio is treated individually by giving consideration to each purchase or sale for your account. For these and other reasons, performance of your investment portfolio within the same investment objectives, goals and/or risk tolerance may differ and you should not expect that the composition or performance of your investment portfolio would necessarily be consistent with similar clients of ours. Financial Planning One of the services offered by us is financial planning, described below. This service may be provided as a stand-alone service, or may be coupled with ongoing portfolio management. Financial planning generally includes advice that addresses one or more areas of your financial situation, such as estate planning, risk management, budgeting and cash flow controls, retirement planning, education funding, and investment portfolio design. Depending on your particular 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;
• Designing an investment portfolio to help meet your goals and objectives;
• Providing estate planning;
• Assessing risk and reviewing basic health, life and disability insurance needs; or
• Reviewing goals and objectives and measuring progress toward these goals. Once financial planning advice is given, you may choose to have us implement your financial plan and manage your investment portfolio on an ongoing basis. However, you are under no obligation to act upon any of the recommendations made by us under a financial planning engagement and/or to engage the services of any recommended professional. Retirement Plan Advisory Services Establishing a sound fiduciary governance process is vital to good decision-making and to ensuring that prudent procedural steps are followed in making investment decisions. We will provide Retirement Plan consulting services to Plans and Plan Fiduciaries as described below. The particular services provided will be detailed in the consulting agreement. The appropriate Plan Fiduciary(ies) designated in the Plan documents (e.g., the Plan sponsor or named fiduciary) will (i) make the decision to retain our firm; (ii) agree to the scope of the services that we will provide; and (iii) make the ultimate decision as to accepting any of the recommendations that we may provide. The Plan Fiduciaries are free to seek independent advice about the appropriateness of any recommended services for the Plan. Retirement Plan consulting services may be offered individually or as part of a comprehensive suite of services. The Employee Retirement Income Security Act of 1974 (“ERISA”) sets forth rules under which Plan Fiduciaries may retain investment advisers for various types of services with respect to Plan assets. For certain services, we will be considered a fiduciary under ERISA. For example, we will act as an ERISA § 3(21) fiduciary when providing non-discretionary investment advice to the Plan Fiduciaries by recommending a suite of investments as choices among which Plan Participants may select. When we provide investment advice to you regarding your retirement plan account or individual retirement account, we are fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act of 1974 (“ERISA”) and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. The way we make money creates some conflicts with your interests, so we operate under a special rule that requires us to act in your best interest and not put our interests ahead of yours. Additional disclosure may be found elsewhere in this Brochure or in the written agreement between you and Anchor. Fiduciary Consulting Services
• Investment Selection Services We will provide Plan Fiduciaries with recommendations of investment options consistent with ERISA section 404(c). Plan Fiduciaries retain responsibility for the final determination of investment options and for compliance with ERISA section 404(c).
• Non-Discretionary Investment Advice We provide Plan Fiduciaries and Plan Participants general, non-discretionary investment advice regarding assets classes and investments.
• Investment Monitoring We will assist in monitoring the plan’s investment options and will make recommendations to maintain or remove and replace investment options. The details of this aspect of service will be enumerated in the engagement agreement between the parties. Non-Fiduciary Services
• Participant Education We will provide education services to Plan Participants about general investment principles and the investment alternatives available under the Plan. Education presentations will not take into account individual circumstances and individual recommendations will not be provided unless you separately engage us for such services. Participants are responsible for implementing transactions in their own accounts.
• Participant Enrollment We will assist with group enrollment meetings designed to increase retirement Plan participation among employees and investment and financial understanding by the employees.