Vantage Wealth Management, LLC was established as a Limited Liability Company in the state of California in February 2007 with David “Val” Fernelius, Brandy M.M. Navarro and as the founding partners and principal owners. David “Val” Fernelius is the Managing Member and President. John D. Lee joined Vantage in February 2015 as a Member. Tom O’Brien joined Vantage in July 2020 as a Member. Bob Stafford joined Vantage in January 2023 as a Member. Brandy M.M. Navarro, , John D. Lee, Tom O’Brien and Bob Stafford are all Members of Vantage Wealth Management, LLC. Vantage Wealth Management, LLC (“Vantage”) registered with the SEC as a Registered Investment Advisor in February 2010. Vantage provides personalized investment advisory services to clients via Financial Planning and Asset Management Services. Financial Planning Services Financial Planning Services are established by a Financial Planning Agreement signed by the client and Vantage and are defined as providing financial advice and planning in the form of written financial plans and/or consultations. Financial planning services are usually prepared for each client before investments are transferred or changes initiated to portfolios transferred to Vantage. Vantage may also provide financial planning services on an on-going basis to clients seeking continuous evaluations of their financial situation. Financial planning services may be comprehensive or specific to an individual topic depending on the needs of the client. Comprehensive financial advice incorporates multiple topics and is usually provided in a written financial plan. When clients do not want a written financial plan, Vantage will provide its services in the form of consultations in order to discuss specific financial planning issues. The complexity of a client’s situation will determine the amount of time and depth provided towards financial planning. Topics covered under financial planning services may include, but not necessarily limited to, insurance planning, retirement planning, college planning, estate planning, asset allocation planning, and general investment planning. Asset Management Services Asset Management Services are established by an Asset Management Agreement signed by the client and Vantage and are defined as giving continuous investment advice and making investment decisions for the client based on the individual needs of the client. Through this service, Vantage offers a customized and individualized investment program for clients. These accounts may be managed on either a discretionary or non-discretionary basis as agreed upon by the client and Vantage. Vantage actively manages client investment portfolios in accordance with the client’s individual needs, objectives and risk tolerance. A specific investment strategy and investment policy is crafted to focus on the specific client’s goals, objectives, risk tolerance and time frame. Vantage first determines an appropriate asset allocation, an appropriate mixture of asset classes, including, equities, fixed income, multiple capitalizations, domestic and international exposure, to help the client best achieve their goals and objectives within their risk tolerance and time frame. Vantage then recommends a platform through which Vantage can offer the appropriate allocation. Vantage’s Asset Management Services may be provided through four different platforms: (1) the SEI Asset Management Program, (2) AssetMark Platform, (3) Charles Schwab, (4) First Ascent, and (5) Pontera (1) SEI Asset Management Program: For the SEI Program, SEI Private Trust Company serves as the custodian for assets of clients who wish to a) purchase SEI Mutual Funds as part of an SEI strategy allocation, b) participate in the SEI Separate Accounts Program, c) purchase non-SEI mutual funds and ETFs as part of an asset allocation recommended and managed by Vantage, and/or d) purchase or hold individual stocks and securities on an unsolicited basis, not recommended or managed by Vantage. Through this program, Vantage serves as the investment advisor to the investor, and is responsible for analyzing the investor’s current financial situation, return expectations, risk tolerance, time horizon, and asset class preference, pursuant to Vantage’s investment advisory agreement. Based upon the investor’s information, Vantage and the investor select an investment strategy and choose from one of many mutual fund asset allocation models, which may be provided by SEI Investments Management Corporation (SIMC), purchase the individual mutual funds, select from among SEI’s Separately Managed Account portfolios, or implement the investment strategy with non-SEI mutual funds and ETFs. (2) AssetMark Platform: AssetMark Trust Company and Pershing provide custody for the AssetMark Platform, which is sponsored by AssetMark, Inc., a registered investment adviser. The AssetMark Platform has two options. The first is an Asset Allocation System that Vantage may use to manage client assets. It is made up of model portfolios provided by a number of institutional investment strategists. The portfolio designs are based on the information, research, asset allocation methodology and investment strategies of the investment strategists. The second option is a Privately Managed Account Program where AssetMark introduces clients to investment managers that Vantage recommends, who provide discretionary management of individual portfolios of equity securities, fixed income securities, mutual funds, and/or exchanged traded funds (ETFs). AssetMark Platform client fees are payable quarterly, in advance, based on the average market value of assets under management during the previous quarter. Vantage, AssetMark, the investment strategists who design the portfolios, and others who provide support services for the AssetMark Platform may receive a portion of the fee paid by the client. The maximum advisory fee charged to clients will not exceed 2.25% per year. Custodian fees may be charged separately from the AssetMark Platform client fees. The amount of the advisory fee charged by Vantage and paid by the client depends on a variety of factors. Vantage may retain a portion of the fees up to 1.35% of the total fees charged to client for its role as investment adviser. A condition of participation in the AssetMark Platform is that all accounts are held at Pershing Advisor Solutions or AssetMark Trust Company. Pershing Advisor Solutions or AssetMark serve as Custodian for Retirement Accounts. Execution and clearance of transactions is provided by Pershing or AssetMark Trust Company. As a result, best execution may not be achieved. A complete description of the AssetMark Platform and related fees and charges

can be found in the AssetMark Schedule H Disclosure Brochure, which will be provided to all clients prior to or at the time an account is established. Clients should carefully review the AssetMark Disclosure Brochure prior to establishing an account. (3) Charles Schwab Vanatge has contracted with Charles Schwab & Co., Inc. (Schwab) to receive custody and execution services. Vantage receives some benefits through its participation in this service. There is no direct link between Vanatge’ receiving this service and the investment advice Vantage gives to our Clients, although we receive economic benefits through our participation in the program. These benefits may include the following products and services (provided without cost or at a discount):
• receipt of duplicate client statements and confirmations;
• research related products and tools;
• consulting services;
• access to a trading desk serving such program participants;
• access to block trading (which provides the ability to aggregate securities transactions for execution and then allocate the appropriate shares to Client accounts);
• the ability to have advisory fees deducted directly from client accounts;
• access to an electronic communications network for client order entry and account information;
• access to mutual funds with no transaction fees and to certain institutional money managers; and
• discounts on compliance, marketing, research, technology, and practice management products or services provided to us by third-party vendors. Some of the products and services made available through this program may benefit Vantage but may not benefit our Client accounts. However, we believe these products or services assist us in managing and administering Client accounts. Other services made available by the service are intended to help us manage and further develop our business enterprise. The benefits received by Vantage or our personnel through participation in such services do not depend on the amount of brokerage transactions directed to Schwab. As part of our fiduciary duties to clients, Vantage endeavors at all times to put the interests of its clients first. Clients should be aware, however, that the receipt of economic benefits by Vantage or its related persons in and of itself creates a potential conflict of interest and may indirectly influence our choice of brokerage firm for custody and brokerage services. (4) First Ascent Vantage has entered into sub-advisory agreement with First Ascent Asset management (First Ascent). Vantage is responsible for assessing suitability of First Ascent’s services to specific clients and further recommendation of First Ascent’s investment management to such clients. Where Vantage views First Ascent’s services to be beneficial to the Clients, the Firm will 1)discuss the Client’s needs, goals and objectives upon recommending First Ascent’s services and annually thereafter; 2)regularly review First Ascent’s performance; 3)review continuous suitability of First Ascent’s investment management services for the Clients. In turn, First Ascent will manage portfolios for Client on the discretionary basis. Those portfolios will consist primarily of ETFs amd mutual funds and may include separate account money managers. First Ascent will conduct ongoing research regarding the investments and will select ETFs, mutual funds or separate account money managers for Clients’ Accounts, as appropriate. First Ascent will serve as a fiduciary with respect to the services in performs for Clients. First Ascent client fees are payable quarterly, in advance, based on the average market value of assets under management during the previous quarter. Vantage, First Ascent, the investment strategists who design the portfolios, and others who provide support services for the First Ascent Platform may receive a portion of the fee paid by the client. The maximum advisory fee charged to clients will not exceed 2% per year. Custodian fees may be charged separately from the First Ascent Platform client fees. The amount of the advisory fee charged by Vantage and paid by the client depends on a variety of factors. Vantage may retain a portion of the fees up to 1.35% of the total fees charged to client for its role as investment adviser. A complete description of the First Ascent investment management services and related fees and charges can be found in the First Ascent Disclosure Brochure, which will be provided to all clients prior to or at the time an account is established. Clients should carefully review the First Ascent Disclosure Brochure prior to establishing an account. (5) Pontera Vantage uses a third party platform to facilitate management of held away assets such as defined contribution plan participant accounts, with discretion. The platform allows Vantage to avoid being considered to have custody of Client funds since we do not have direct access to Client log-in credentials to affect trades. Vantage is not affiliated with the platform in any way and receives no compensation from them for using their platform. A link will be provided to the Client allowing them to connect an account(s) to the platform. Once Client account(s) is connected to the platform, Vanatge will review the current account allocations. When deemed necessary, Vantage will rebalance the account considering client investment goals and risk tolerance, and any change in allocations will consider current economic and market trends. The goal is to improve account performance over time, minimize loss during difficult markets, and manage internal fees that harm account performance. Client account(s) will be reviewed at least quarterly and allocation changes will be made as deemed necessary. Financial Institution Consulting Services Vantage has entered into agreement with Mutual Securities, Inc., a FINRA registered broker- dealer, to provide investment consulting services to Brokerage Customers. Mutual Securities, Inc. pays compensation to Vantage for providing investment consulting services to Customers. This consulting arrangement does not include assuming discretionary authority over Brokerage Customers’ brokerage accounts or the monitoring of securities. These consulting services offered to Brokerage Customers may include a general review of Brokerage Customers’ investment holdings, which may or may not result in Vanatge’s investment adviser representative making specific securities recommendations or offering general investment advice. Brokerage Customers will execute a written advisory agreement directly with Vantage As of December 31, 2023 Vantage manages $606,613,581.58 in 1470 accounts on a discretionary basis.