RWA was formed in 2013 and became registered as an investment adviser with the SEC on September 15, 2014. RWA commenced providing investment advisory services to client accounts on January 1, 2015. On July 17, 2023, RWA became a wholly owned subsidiary of Adviser Investments, LLC, an investment adviser registered with the SEC. On November 1, 2023, RWA became a division of Adviser Investments, LLC under its new name RWA Wealth Partners, LLC. RWA Wealth Partners, LLC is principally owned by certain investment vehicles advised by Summit Partners, L.P., an investment adviser registered with the SEC. RWA works with clients as a fiduciary to provide investment solutions that bridge time-tested principles with a contemporary approach to investing and planning. Investment Philosophy. RWA’s investment approach is based on the belief that asset allocation is the single largest driver of long-term investment returns.
RWA provides investment advice to help clients increase their chances of meeting their investment goals by allocating among asset classes in an attempt to improve the overall return of a client’s portfolio and to mitigate risk. RWA’s goal is to smooth out return streams over time and create a long-term investment strategy that is revised only with a change in client circumstances. Shorter-term tactical asset allocation decisions in response to market movements or outlook are made by RWA to refine a portfolio’s long-term strategy. Investment Platform. RWA employs an open architecture investment platform, which provides investment exposure to a full range of asset classes via mutual funds, exchange traded funds (“ETFs”) and separate accounts managed by unaffiliated third parties. RWA also recommends investments in privately offered pooled investment vehicles, such as hedge funds, private equity funds or other similar vehicles (collectively and together with mutual funds and ETFs, “Investment Funds”) for clients who are qualified to invest in those funds and for whom these investments are otherwise deemed to be appropriate. RWA utilizes both active and index-oriented investment vehicles, depending on its judgment of the efficiency of an asset class. From time to time, RWA trades individual stocks or fixed income securities for client portfolios in fulfillment of their investment objectives. RWA does not sell any proprietary investment products or have fee sharing arrangements with third-party investment managers, broker-dealers, or custodians. Instead, RWA’s open architecture approach seeks to mitigate conflicts of interest relating to the selection of managers and asset classes. Investment Services. RWA works with each client to develop and execute an appropriate investment strategy for each portfolio. This includes establishing an investment objective and an appropriate asset allocation that is aligned with the client’s investment goals and constraints. For instance, certain clients request to exclude certain asset classes, or individual securities, while other clients choose to customize their portfolio for impact investing. RWA also provides security research, monitoring, and diversification strategies to clients with concentrated equity holdings. A client with a discretionary account can direct RWA to purchase or hold a security that RWA does not recommend as appropriate for the client, given the client’s investment objective, and other suitability factors. Prior to doing so, the client must acknowledge:
• The security was a directed trade and RWA has no investment discretion with respect to that security.
• The value of the security will be included in the client account’s market value calculation and will be subject to the same fee as the other investment assets in the client’s account.
• RWA will consider the security when making asset allocation decisions on the client’s behalf but is not obligated to provide the client with investment advice pertaining to the specific security.
• RWA will provide administrative services for the security, which include purchasing and selling the security at the client’s direction.
• Unless and until the client notifies RWA in writing, RWA will continue to hold the security in the client account. Custom Fixed Income and Cash Management. RWA offers high quality fixed income and cash management portfolios customized to each client’s tax status, state of residence, and cash flow needs. RWA seeks to design each portfolio to deliver preservation of capital, reliable income stream and competitive total return. RWA focuses on disciplined, expert yield curve management and individual security selection, while targeting short-and intermediate-term

maturity bonds, with a premium placed on high liquidity and low volatility. RWA employs extensive internal credit analysis to identify attractive sectors and individual bonds and has a network of over 100 fixed income dealers to execute trades. This approach seeks to provide the opportunity to capitalize on market inefficiencies to maximize total return potential, and to avoid taking on elevated credit or interest rate risk. Custody Services. All client funds and securities are held with independent qualified custodians. Clients can choose the independent qualified custodian where their assets are held; however, in many instances, RWA recommends a qualified custodian to provide custody services that include arranging for the safekeeping of assets. RWA typically recommends Fidelity Institutional®1 (“Fidelity Institutional”) as the qualified custodian for client accounts and facilitates the arrangement for the safekeeping of client assets with Fidelity Institutional. RWA also acts as liaison with SEI Private Trust Company (“SEI”), which maintains possession of cash and securities for certain RWA clients. From time to time, RWA facilitates custodial arrangements with Fidelity Institutional and SEI for client accounts that do not receive investment advisory services from RWA. Fiduciary Services. Skilled advisors with deep experience serve as expert fiduciaries to families, providing continuity and stability over many generations. As independent trustees and executors, RWA’s personalized service helps remove the burden from family and friends and offers an alternative to corporate trustee services. RWA’s full service of trust and estate administration is offered in combination with RWA’s investment management services. Estate Settlement Services. RWA offers experienced guidance in the midst of difficult transitions, and few are as difficult as the months following a loved one’s death, when there are important decisions to be made. The estate settlement team at RWA is skilled in the personal as well as the 1 Fidelity Institutional® provides a comprehensive clearing and custody platform, brokerage services, trading capabilities, and practice management and consulting to registered investment advisers (RIAs), including strategic acquirers and professional asset managers, as well as retirement recordkeepers, broker-dealer firms, banks, and insurance companies through National Financial Services LLC (NFS) or Fidelity Brokerage Services LLC, Members NYSE, SIPC. In addition to providing services to third-party institutions, the NFS brokerage platform supports all the clearing and custody businesses at Fidelity, including Fidelity’s retail and capital markets businesses. technical aspects of estate administration and helps guide each family with expertise and sensitivity every step of the way. Estate settlement services include arranging for probate; collecting, inventorying, valuing, and protecting assets; arranging for the sale of real and personal property; managing assets during the estate administration period; accurate record keeping; preparing and filing income and estate tax returns; paying estate taxes, expenses, and debts; and distributing estate assets to beneficiaries. Financial Planning Services. RWA provides financial planning services for certain clients. Financial planning can be described as helping individuals determine and set their long-term financial goals. The role of a financial planner is to find ways to help the client understand their overall financial situation and help the client set and map out a course to meet financial objectives. A typical financial plan includes any or all of the following: cash flow analysis and budgeting; mortgage and debt management; retirement planning; disability, long-term care, life and other insurance needs; lifetime family giving, including gifts to meet educational expenses; and charitable gift planning. RWA relies on each client to promptly notify us in writing of any material changes to the client’s financial condition including, but not limited to, investment objective, risk tolerance, net worth, annual income, and investment time horizon. Consulting Services. RWA has consulting or other arrangements with certain clients. These arrangements, to the extent applicable, are made on a case-by-case basis. Assets Under Management. As of December 31, 2023, the total amount of client assets under management by RWA was $6,632,130,471. The amount of client assets managed on a discretionary basis was $6,416,495,257 and the amount of client assets managed on a nondiscretionary basis was $215,635,214.