Firm Description EquityCompass Investment Management, LLC (“EquityCompass”, “we”, “us”, “our”, the “Firm”) is registered as an investment adviser with the Securities and Exchange Commission (“SEC”). EquityCompass provides portfolio strategies and investment research to financial intermediaries and institutions in the United States. EquityCompass was organized as an entity in 2007, and has been registered with the SEC since May 5, 2008. Principal owners EquityCompass is a wholly owned subsidiary of Stifel Financial Corp., (“Stifel”). Stifel is a financial services holding company whose stock is publicly traded on the New York Stock Exchange under the symbol SF. EquityCompass is managed on a day-to-day basis by Senior Managing Director Chris Mutascio, Chief Investment Officer Robert Hagstrom, and Senior Investment Strategist Richard Cripps. Type of Advisory Services EquityCompass offers a broad range of investment strategies through non-discretionary and discretionary investment services (“Services”), including:
• Non-Discretionary Investment Management Services: EquityCompass offers non-discretionary investment advisory services in the form of model portfolios that are based on research-driven, rules based investment process, which merges traditional investment theory with quantitative techniques. These model portfolios are provided to other financial institutions in the U.S. (“Sponsoring Firms” or “Sponsors”), including our affiliate Stifel, Nicolaus & Company, Incorporated (“SNCI”). In turn, these Sponsoring Firms use our model portfolios to manage their individual client accounts. There is no requirement that the models will be administered as they are provided, or at all, and we do not trade or supervise the Sponsoring Firm’s administration or implementation of the models. We are paid a fee by the Sponsoring Firm based on the assets invested in the model portfolios and are typically included in the asset-based advisory fee that the Sponsor collects from their clients.

• Discretionary Investment Management Services: EquityCompass acts as an investment manager to an open-end mutual fund, the Quality Dividend Fund, a series of the FundVantage Series Trust. Information about this fund can be found on EquityCompass’s website, www.equitycompass.com. EquityCompass also provides discretionary management services to clients within wrap fee programs offered by other financial institutions in the U.S. (each a “Wrap Sponsor”), including our affiliate, SNCI. Clients participating in separately managed account programs may be charged various program fees by the Wrap Sponsor in addition to the advisory fee charged by us. We manage wrap accounts in accordance with client investment policies and will use reasonably available resources to comply with investment restrictions, when applicable. There may be differences in the performance of individual accounts among EquityCompass clients, resulting from differences in the number of securities held in the portfolio, cash availability, investment restrictions, account sizes, tax considerations, and other factors. EquityCompass is a discretionary investment manager to clients of affiliated and non-affiliated financial institutions that select EquityCompass to manage their client’s assets. Such clients are considered “dual contract” clients because the client will have a contractual relationship, which includes custodial services, directly with their financial institution (each, a “Dual Contract platform”) and with EquityCompass. It is not our practice to invest in the Quality Dividend Fund within our investment strategies. As of December 31, 2023, EquityCompass had assets under management of $179.5 million and assets under advisement of $4.5 billion. Assets under advisement represent advisory-only assets for which EquityCompass provides a model and does not have trading authority over the assets.