Introduction and Overview This brochure contains important information. We encourage you to read it carefully and ask questions if there is any information that you do not understand. In this brochure, references to “we,” “us,” “our,” or “our firm” refer to Advisory Alpha, LLC (“Advisory Alpha”). Individuals who serve as our managers, officers, employees, and financial advisors may also be referred to as our “investment advisor representatives.” Our firm’s clients and prospective clients are referred to as “you,” “your,” or “our clients.” Advisory Alpha is a Michigan based investment advisor registered with the SEC since 2011. Our principal owner is Steve Osterink, Jr., CFA®, CFP®, AIF®. Janine Osterink serves as our Chief Compliance Officer. We also do business as Conger Wealth Management and Financial Decisions in the state of Arkansas and have registered DBA names as such in both the state of Michigan and the state of Arkansas. We have an Investment Team that provides oversight of the investment management process, including portfolio allocation, security analysis, and investment selection. The Investment Team is led by Steve Osterink, Jr., CFA®, CFP®, AIF® and Steve Osterink Sr. Other members include Jon Lohr CFA®, CFP®, Nick Heinrich, CFP®, Michael Baker, and Janine Osterink. Delivery of Advisory Services We provide advisory services to clients through our investment advisor representatives as well as through subadvisory or co-advisory relationships with other independent, third party registered investment advisors. Investment Advisor Representatives - For clients we serve directly, the investment advisor representative assigned to each client will assist you in establishing and managing your accounts. The assigned investment advisor representative is responsible for gathering information on your age, investment experience, time horizon, liquidity, risk tolerance, financial history, goals, objectives, and financial concerns in order to assist you in selecting from our managed portfolio and specialty solution offerings. The assigned investment advisor representative will also provide you with initial and ongoing information and education concerning the investments selected. We generally maintain discretionary authority to determine the securities to buy and sell within the client accounts. Your assigned investment advisor representative should meet with you periodically to discuss these allocation changes. Subadvisor Relationships - We have arrangements in place to act as a subadvisor and provide subadvisory services to clients of appropriately registered, third party investment advisors. These subadvised clients will enter into an advisory agreement directly with the third party investment advisor, and we will have no direct client relationship with you. The third party investment advisor is responsible for providing you a copy of our firm brochure and 5 02/29/2024 establishing the fee that you pay, which will be specified in the signed advisory agreement. We receive a portion of the total advisory fees for our advisory services, as agreed upon in the subadvisory agreement we have with the third party investment advisor. An investment advisor representative affiliated with the third party investment advisor will assist you in selecting from our managed portfolio and specialty solution offerings that align with your investment objectives, risk tolerance, and time horizon. This investment advisor representative will also provide you with initial and ongoing information and education concerning the investments selected. As a subadvisor, we generally maintain discretionary authority to determine the securities to buy and sell within the subadvised client accounts. The third party investment advisor’s investment advisor representative should meet with you periodically to discuss these allocation changes. Co-Advisor Relationships - We have arrangements in place to act as a co-advisor and provide advisory services to clients of appropriately registered, third party investment advisors. These co-advised clients will enter into an advisory agreement directly with us and the third party investment advisor. The third party investment advisor is responsible for providing you a copy of our firm brochure and establishing the fee which you pay, which will be specified in the signed advisory agreement. We receive a portion of the total advisory fees for our advisory services, as agreed upon in the co-advisory agreement we have with the third party investment advisor. An investment advisor representative affiliated with the third party investment advisor will assist you in selecting from our managed portfolio and specialty solution offerings that align with your investment objectives, risk tolerance, and time horizon. This investment advisor representative will also provide you with initial and ongoing information and education concerning the investments selected. As co-advisor, we generally maintain discretionary authority to determine the securities to buy and sell within the co-advised client accounts. The third party investment advisor’s investment advisor representative should meet with you periodically to discuss these allocation changes. Managed Portfolios We’ve designed a variety of managed portfolio offerings, grouped by series, that invest in various diversified investment allocations structured towards a wide range of investment goals. Accumulate Series - Diversified strategies that provide broad exposures to stock markets and strive to provide long-term capital appreciation. Classic Series - Diversified allocation strategies including traditional investment exposures familiar to most investors that span a range of risk and return levels. Core Series - Institutional-quality and extensively-diversified asset allocation strategies that span a range of risk and return levels. Direct Series - Individual equity strategies delivering targeted factor exposure and investment themes while also seeking tax benefits through sophisticated trading and rebalancing processes. 6 02/29/2024 Factor Series - A range of strategies utilizing investment products that apply a factor-based security selection process. Hedged Series - Strategies composed of customized structured product investments that attempt to deliver varying levels of return and tangible downside protection. Horizon Series - A collection of innovative bond ladder strategies constructed using high yield securities and designed for immediate income or long-term reserve objectives. Income Series - Diversified strategies that provide broad exposures to income-generating assets and strive to provide varying levels of yield opportunities. Manager Series - A range of strategies utilizing independent investment managers who focus on security selection and undergo extensive due diligence and ongoing scrutiny. Treasury Series - A collection of flexible bond ladder strategies constructed using individual treasury securities and designed for immediate income or long-term reserve objectives. American Series - Diversified asset allocation strategies constructed using mutual funds only available through the American Funds F-2 Direct platform and that span a range of risk and return levels. Monument Series - Diversified asset allocation strategies constructed using subaccounts only offered through the Nationwide Monument Advisor platform and that span a range of risk and return levels. Specialty Solutions 401(k) Plan Solution - We offer a comprehensive retirement plan solution and serve as the 3(38) Fiduciary, which means that you give us discretionary authority to manage the retirement plan’s assets. Our 401(k) Plan Solution is a turnkey employer-sponsored retirement plan solution that includes low-cost investment choices, managed portfolio options, fiduciary coverage, and advanced plan design capabilities. This allows you to shift your fiduciary responsibility to us for the selection of your investments. We offer five professionally-managed asset allocation strategies for plan participants. All five strategies are fully diversified and actively managed with the goal of maximizing potential returns at each risk level. Plan participants are also given the option of constructing their own investment portfolios using a selection of investment choices. The asset allocation strategies are made available at no additional expense. Cash Balance Plan Solution - We offer a comprehensive cash balance plan solution and serve as the 3(38) Fiduciary, which means that you give us discretionary authority to manage the 7 02/29/2024 retirement plan’s assets. Our Cash Balance Plan Solution is a specialized defined benefit plan that is combined with a 401(k) plan with the goal of providing accelerated savings and significant tax reductions for successful businesses with consistent revenue. This allows you to shift your fiduciary responsibility to us for the selection of your investments. The investment strategy is guided by one or more of our managed portfolio offerings based on your risk and return goals. Multiple Employer Plan Solution - We offer a comprehensive multiple employer plan solution and serve as the 3(38) Fiduciary, which means that you give us discretionary authority to manage the retirement plan’s assets. Our Multiple Employer Plan Solution is a single retirement plan program for multiple adopting employers that may offer powerful advantages, such as simple plan structure, fiduciary protection, and compressed expenses. This allows you to shift your fiduciary responsibility to us for the selection of your investments. We offer five professionally- managed asset allocation strategies for plan participants. All five strategies are fully diversified and actively managed with the goal of maximizing potential returns at each risk level. Plan participants are also given the option of constructing their own investment portfolios using a selection of investment choices. The asset allocation strategies are made available at no additional expense. Simple IRA Plan Solution - We offer a Simple IRA plan solution with accounts generally opened through a directly-held mutual fund platform. Our Simple IRA Plan Solution is an efficient and cost-effective retirement savings platform that includes professionally managed portfolio

options and seamless technology designed for small employers. Versions of our managed portfolio offerings are offered and constructed using the mutual funds made available by the platform. This can provide efficient diversification for specific account types, ease of making account contributions, and simple access to certain mutual fund managers. The fund companies may assess certain administrative fees, the selected mutual funds are subject to various internal expenses, and we charge a management fee. Defined Benefit Plan Solution - We offer customized duration matching strategies for high net worth investors and institutional clients. Our Defined Benefit Plan Solution is a customized approach that uses fixed income ladders and institutional investment strategies to focus the investment policy and portfolio allocation of intuitional investors on matching current and future liabilities. These strategies attempt to maximize the ability to meet future, defined cash flow needs for certain investors, such as defined benefit plans. We charge a management fee, and depending on the specific client, other services providers such as actuaries and third party administrators may be involved, each with their own fees and expenses. 529 Plan Solution - We offer a 529 Plan solution with accounts generally opened through a directly-held mutual fund platform. Our 529 Plan Solution is a college savings platform that provides contribution flexibility, potential tax advantages, and professional investment management. Versions of our managed portfolio offerings are offered and constructed using the mutual funds made available by the platform. This can provide efficient diversification for 8 02/29/2024 specific account types, ease of making account contributions, and simple access to certain mutual fund managers. The fund companies may assess certain administrative fees, the selected mutual funds are subject to various internal expenses, and we charge a management fee. Variable Annuity Solution - We offer a series of portfolios on a fee-based variable annuity platform. Our Variable Annuity Solution is a low-cost variable annuity platform that includes professionally managed portfolios and powerful tax planning flexibility. Versions of our managed portfolio offerings are offered and constructed using the subaccounts made available by the variable annuity platform. This allows for larger tax-deferrals and it allows you to consolidate variable annuity gains under a single contract. With access to the various subaccounts through the variable annuity platform, all portfolio models are appropriately managed and diversified according to the stated investment objective. The variable annuity platform assesses certain administrative fees, the selected subaccounts are subject to various internal expenses, and we charge a management fee. Donor Advised Fund Solution - We offer our managed portfolios through a donor advised fund platform. Our Donor Advised Fund Solution is a cost-effective charitable giving platform that provides professional investment management as well as potential advanced tax and legacy planning benefits. There are numerous potential tax advantages associated with donor advised funds, making them not only a powerful charitable planning tool but also a unique tax planning tool. The donor advised fund administrator assesses certain administrative fees, the selected investment holdings are subject to various internal expenses, and we charge a management fee. Health Savings Account Solution - We offer our managed portfolios through a health savings account platform. Our Health Savings Account Solution is a technology-driven health savings platform for those with high deductible health insurance plans which integrates a liquidity account and professionally managed investment account. The professionally managed investment account is opened and managed through our existing custodians and provides access to greater investment flexibility relative to typical health savings accounts. The health savings account administrator typically does not assess an administrative fee; however, the selected investment holdings are subject to various internal expenses, and we charge a management fee. Managed Participant Portfolio Solution - We offer our managed portfolios through self-directed retirement plan platforms. Our Managed Participant Portfolio Solution is a series of professionally managed portfolio offerings that provide active, ongoing investment management to individual plan participants within select company-sponsored retirement plans. This solution does not require that these plan participants separate from service or distribute assets from their company-sponsored retirement plan. The goal is to provide these plan participants with greater access to investment choices and professional investment management. Typically, retirement plan sponsors and providers will not charge an additional fee for this solution but we charge a management fee. 9 02/29/2024 1031 Exchange Solution - We offer private real estate strategies to facilitate 1031 exchange transactions and are compensated through our Financial Planning Solution. Our 1031 Exchange Solution offers private real estate strategies which may provide deferral of real-estate related capital gains as well as added portfolio diversification and income yield. These services generally include assistance in evaluating and conducting due diligence on appropriate real estate investment options, coordination of the transaction in an attempt to optimize the intended tax benefits, integration of the investment exposure into your broader portfolio and financial plan, and communication with external tax professionals as necessary. The Qualified Intermediary assesses certain administrative fees, the private real estate providers assess certain management and internal expenses, and we charge a financial planning fee. Financial Planning Solution - We offer a comprehensive range of financial planning services, which includes General Services, ERISA Services, and Investment Planning. The final fee structure and specific services are documented in the advisory agreement with clients. Our Financial Planning Solution is a flexible financial planning program that accommodates a wide range of planning needs, allowing for customized pricing arrangements and includes payment management technology. These engagements may be for one-time, initial planning and/or ongoing planning services and these services may be based on fixed, hourly fees or asset-based fees.
• General Services may pertain to tax-related and other non-investment related matters and may include but are not limited to: tax considerations; retirement planning; college planning; private placements; and real estate transactions.
• ERISA Services may include but are not limited to investment due diligence, employee education, and other 3(21) fiduciary services. As a 3(21) fiduciary, we will make recommendations but it is ultimately up to you, as the plan sponsor, to decide whether and how to act. As a 3(21) fiduciary, we will not have discretionary authority to invest and reinvest your assets without prior consent and therefore we will share responsibility for the selection of investments.
• Investment Planning Services include building and managing custom portfolios delivered with or without discretionary authority. You may impose restrictions on investing in certain securities. If you choose to impose restrictions on our portfolio management, you should be aware that it could cause your account to underperform compared to similar portfolios that do not apply such restrictions. If your restrictions prevent us from properly servicing the account, we reserve the right to end our relationship with you. Other Types of Advisory Services Subadvisor Selection - When appropriate for your situation, we may also select a third party manager to act as a subadvisor for your account. When we do so, we will select a manager whose style and talent best fits your individual needs and objectives. Your advisory agreement with us gives us the authority to hire or fire these managers on your behalf. Once a subadvisor is selected, we will continue to monitor their performance. In these arrangements, you will 10 02/29/2024 typically sign an advisory agreement with them in addition to the advisory agreement you will sign with us. Tax Preparation - We offer tax preparation for personal, trust, and business clients. All tax preparation and planning services are provided by properly qualified and licensed individuals and may be outsourced to independent accounting firms. Department of Labor Fiduciary Status 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 interest 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. Assets under Management (AUM) On February 29, 2024, our total assets under management (“AUM”) are $2,997,055,995. Discretionary assets under management are $2,997,055.995 for 20,609 accounts and we have no non-discretionary assets under management or accounts. Assets under Advisement (AUA) On March 14, 2023, our total assets under advisement (“AUA”) are $396,498,136. These are assets in which we provide consulting, performance reporting, and billing services, but not ongoing management and trading authority. The combined total of Assets under Management and Assets under Advisement are $3,393,554,131.