BHK Investment Advisors, LLC (“BHK”) was established in 2006 and approved as a Registered Investment Adviser in 2006. The three shareholders and executive officers include Meredyth Roberts Hazzard (CEO), John Gurney Brock (President), and James Bailey Knight (CCO). Please refer to Item 10 for more information on BHK Securities, LLC (“BHKS”) which is an affiliated broker/dealer under common control. BHK offers investment advisory products and services as detailed in this disclosure document. Such advisory products and services are offered through Investment Advisor Representatives (“IARs”). Under the various Programs, the client and the IAR compile pertinent financial and demographic information to develop an investment program that will meet the Client’s goals and objectives. IARs will analyze the client information and recommending an appropriate strategy based on the client’s needs and objectives, investment time horizon, risk tolerance, and any other pertinent factors. For its investment advisory clients, BHK may provide the following programs to each client: I. BHK Investment Advisory (BHK-IA) II. BHK Investment Consulting (BHK-IC) III. BHK Global Portfolio Strategies (BHK-GPS) IV. BHK Retirement Plan Consulting (BHK-RPC) ERISA and Individual Retirement Accounts Disclosure 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 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. Under this special rule's provisions, we must:
• Meet a professional standard of care when making investment recommendations (give prudent advice);
• Never put our financial interests ahead of yours when making recommendations (give loyal advice);
• Avoid misleading statements about conflicts of interest, fees, and investments;
• Follow policies and procedures designed to ensure that we give advice that is in your best interest;
• Charge no more than is reasonable for our services; and
• Give you basic information about conflicts of interest. I. BHK Investment Advisory and Fees (BHK-IA) Portfolio management is based on the individual objectives of each specific client portfolio and may or may not represent the overall objectives of the clients’ total investment assets. BHK recommends and employs various investment strategies, any one or more of which could be suited to a particular client. There are basically four investment strategies that are offered to BHK clients: 1. Income oriented strategies including investment in bonds, preferred stocks, certificates of deposits, mutual funds, exchange traded funds and other income oriented securities as may be viewed as appropriate for the particular client account; 2. Growth oriented strategies including investment in common stock, convertible bonds, mutual funds, exchange traded funds and other growth oriented securities as may be viewed as appropriate for the particular client account; 3. Balanced strategies including investment in securities included in strategies described in paragraphs 1 and 2 above; and, 4. Mutual Funds and Exchange Traded Funds (ETF) providing a broad level of diversification and tailored asset allocation to meet the clients’ investment goals in part or in total. BHK seeks appropriate levels of diversity in each Investment Advisory account and designs these accounts to meet each client’s particular investment objectives and guidelines. Common stock portfolios are constructed with stocks across diversified sectors of the market. Fixed income securities selection is based on the client’s individual investment objectives and guidelines. Mutual fund and Exchange Traded Fund portfolios are diversified across various investment styles that match the client’s investment objectives and guidelines. BHK-IA accounts are designed to provide discretionary management by an Advisor Representative of the firm. BHK assists each BHK-IA account client in formulating investment objectives and manages the account within established guidelines regarding, among other matters, diversification and designation of securities that may be purchased. BHK does not ordinarily engage in rapid turnover in an account, margin transactions, or option writing, except in appropriate situations where rapid changes in market conditions or client circumstances dictate such actions. II. BHK Investment Consulting and Fees (BHK-IC) BHK provides Investment Consulting which is typically on a non-discretionary basis, but may be discretionary. Investment Consulting includes one or more of the following services: 1. Review of existing portfolio investments 2. Assisting in the development of a Spending Policy 3. Assisting in the development of an Investment Policy Statement 4. Overall asset allocation advice for all or part of the clients’ investment assets 5. Recommendation of investment managers to manage client accounts on a non-discretionary basis 6. Ongoing monitoring of accounts 7. Portfolio monitoring reports Recommended Registered Investment Advisers (Advisors/Managers) are evaluated for client use. BHK-IC services include assisting clients in identifying their investment objectives and matching personal and financial data with a select list of investment advisors that meet the BHK-IC minimum quantitative

and qualitative criteria. The intent of the program is to have high quality investment management firms from which a client selects one or more managers to handle the day-to-day management of the client’s account(s). Among the criteria that is considered is the manager’s experience, assets under management, performance record, client retention, the level of client services provided, investment style, buy and sell disciplines, capitalization level and the general investment process. Following such recommendations, client will have final authority to select an advisor. Factors involved in BHK-IC recommendation of the termination of an advisor may include a failure to adhere to management style or clients’ objectives, a material change in the professional staff of the advisor, unexplained poor performance, and dispersions of client account performance or other circumstances. Clients are advised and should understand that: an advisor’s past performance is no guarantee of future results. Market and/or interest rate risks exist which can adversely affect an advisor’s objectives and strategies, and could cause a loss in a client's account(s). Client risk parameters or comparative index selections provided to the firm are guidelines only; there is no guarantee that they will be met or not be exceeded. All accounts are managed by the selected independent advisors and BHK does not have any discretionary trading authority with respect to such accounts. Information collected by BHK regarding BHK-IC managers is believed to be reliable and accurate, but the firm does not necessarily independently verify it. Performance reports provided directly to the clients and the firm by investment advisors/managers are not audited or verified. III. BHK Global Portfolio Strategies (“BHK-GPS”) BHK-GPS accounts invest in a minimum of 6 asset classes. Exchange Traded (Index) Funds (ETFs) are used as portfolio building blocks. The initial allocation to various asset classes for a particular client depends upon the amount of risk the client is willing to accept. Market leadership among the asset classes changes over time. We methodically rebalance to the initial allocation to maintain risk at approximately the agreed upon level. Our asset allocation and ETF selection methodologies are based upon mathematics. This process allows us to allocate assets under our management to various parts of the global securities market, while striving to control risk. The BHK Global Portfolio Strategies methodology:
• Makes no predictions concerning the future behavior of the asset classes owned in the managed portfolios
• Requires very broad global securities diversification and
• Requires regular portfolio rebalancing. Through our BHK-GPS accounts, we provide investment advice to corporations, retirement plans, foundations and individuals on portfolios made up primarily of exchange traded funds (“ETFs”). The foundation of the Program is a range of asset allocation portfolios strategically built to meet different investment time horizons, risk levels and objectives. We strive to achieve long-term risk, return and correlation objectives through diversification among multiple asset classes and multiple securities. We will meet with you to develop your detailed investment profile in order to determine the suitability of the Program for you and the specific portfolio strategy that is appropriate. You may impose reasonable restrictions on the investments made in your account. Any account customization will be documented by a “Letter of Understanding” signed by all parties involved. Once a strategy is selected, we will purchase the investments required to implement the strategy and will monitor the portfolio on a monthly basis to ensure that it continues to reflect the selected strategy. We will rebalance and/or reallocate the portfolio on a discretionary basis as dictated by market conditions. Please note that transactions in the account, account reallocations and rebalancing could trigger taxable events for you, unless you own an IRA account, 403(b) account, a non-taxable foundation account or a qualified retirement plan account. It is our responsibility to meet with you personally or speak with you on the phone, at least on an annual basis, to review any changes in your financial situation and/or your strategic investment requirements. The reviewer will be one of our designated portfolio managers. In addition to the statements supplied by your account custodian we will provide you with quarterly reports showing securities owned and the performance of your portfolio versus the performances of pre-agreed-upon benchmarks. IV. BHK Retirement Plan Consulting Services and Fees (BHK-RPC) BHK provides non-discretionary Retirement Plan Consulting Services that include one or more of the following services: 1. Review of existing portfolio investments 2. Assisting in the development of an Investment Policy Statement 3. Mutual Fund Search and Recommendation 4. Separately Managed Account Search and Recommendation 5. Diversification Review 6. Fund Analysis Reports 7. Advice to participants regarding investment options available to them in the Plan The Disclosure Document for each separate Manager contains important information regarding conflicts of interest, compensation, risks, potential benefits, and other information that prospective investors should review and consider before investing. BHK manages assets on a discretionary and non-discretionary basis. As of December 31, 2023, BHK held $321,300,000 in discretionary assets and $342,800,000 in non-discretionary assets.