We are proud of our Firm’s unique position in the investment industry. Established in 1908, Rothschild is the oldest Chicago-based investment firm that remains a separate entity under the guidance of its founding family. We are uniquely structured to assist clients in the management of their personal and corporate finances. The professional staff averages 20 years’ experience in working with professionals, business owners, and their retirement funds. In fact, the Firm caters to the corporate needs of the closely-held business and the personal needs of its owners. Rothschild has made a long-term commitment to working with entrepreneurs and their special investment requirements. The longevity of the Firm is testimony to our commitment to service and the implementation of a successful long-term investment philosophy. Because no two businesses or individual situations are alike, Rothschild specializes in providing highly personalized asset management services for clients. Each account is individually structured and ongoing advice is provided. Rothschild is a registered investment adviser with the Securities and Exchange Commission (the “SEC”) under the Investment Advisers Act of 1940 as amended (the “Advisers Act”). As a fiduciary, it adheres to and is bound by the terms and provisions of that act. Registration with the SEC or any state securities authority does not imply a certain level of skill or training. Rothschild is also registered with the SEC and various states as a broker-dealer and is a member of the Financial Industry Regulatory Authority, Inc. (“FINRA”) in that capacity. Listed below are the Firm’s principal shareholders (i.e., those individuals and/or entities controlling 25% or more of the company):
• Tin Goose Holdings LLC Our Philosophy Recognizing that investment goals and requirements may vary widely, we stress the importance of establishing meaningful long-term investment objectives for each of our clients. A thorough understanding of overall assets, contribution and payout projections, in addition to client temperament, enables us to evaluate the relative importance of current income versus the potential for capital gains. We are then in a position to recommend an appropriate balance between equity and fixed-income investments and to suggest suitable risk parameters for portfolio investments. Our long- term objective is to establish a pattern of positive total return for our clients. We strive to achieve a combined rate of return sufficient to enhance, as well as protect, the real (inflation-adjusted) value of our clients’ assets. General Approach A successful approach to investment management must ensure compliance with fiduciary standards while retaining the potential for meeting rate-of-return objectives. This requires both prudence and flexibility. Prudence involves ongoing supervision of assets while maintaining meaningful quality standards for investment and diversification of investment risks. Changing market environments necessitates the ability to be flexible. Equity Selection We rely primarily on basic fundamental analysis in selecting equity investments. We actively seek new investment candidates that meet our quality and liquidity requirements. Effective equity selection depends largely upon thorough analysis of both intermediate and long-term economic trends and a reasonable assessment of the relative attractiveness of various equity alternatives. An evaluation of future earnings, relative price-earnings ratios, and the consistency of historical results are examples of the criteria used in our selection process. Because over-diversification often leads to mediocre results, we concentrate our investments in the industry and market sectors we believe are most likely to benefit from anticipated economic developments. Fixed Income Selection In today’s environment of frequent and sometimes dramatic changes in the level and direction of interest rates, some traditional fixed-income strategies are no longer effective. Our over-riding concern in structuring a bond portfolio is protection of principal. Therefore, we will normally construct portfolios comprised of laddered, short-term to intermediate-term investment

grade fixed income securities to protect against interest rate risk and credit risk. Investment Advisory Services Our Firm provides ongoing advice to clients regarding the investment of their funds based on their individual needs. Through personal discussions with the client, investment goals and objectives are established based on the client’s particular circumstances. We develop the client’s personal investment policy and create and manage a portfolio based on that policy. During our data-gathering process, we determine the client’s individual objectives, time horizons, risk tolerance, and liquidity needs. As appropriate, we also review and discuss the client’s prior investment history, as well as family composition and background. We manage these advisory accounts on a discretionary or non-discretionary basis. Account supervision is guided by the client’s stated objectives (i.e., capital appreciation, growth, income, or growth and income), as well as tax considerations. Clients may impose reasonable restrictions on investing in certain securities, types of securities, or industry sectors. Our investment recommendations are not limited to any specific product or service offered by a broker-dealer (or insurance company, if applicable) and will generally include advice regarding the following securities:
• Exchange-listed securities
• Securities traded over-the-counter
• Foreign issuers
• Warrants
• Corporate debt securities (other than commercial paper)
• Commercial paper
• Certificates of deposit
• Municipal securities
• Variable annuities (if applicable)
• Mutual fund shares
• United States governmental securities
• Options contracts on securities Because some types of investments involve certain additional degrees of risk, Rothschild will implement/recommend them only when consistent with the client’s level of sophistication as well as stated investment objectives, tolerance for risk, liquidity, and suitability. Retirement Plan Consulting Services We can also provide Retirement Plan Consulting Services as stand-alone services or alongside our traditional advisory services. Retirement Consulting Services are comprised of four distinct services. Clients may choose to use any or all of these services. Investment Policy Statement Preparation (hereinafter referred to as ‘‘IPS’’): We generally meet with the client to help determine an appropriate investment strategy that reflects the plan sponsor’s stated investment objectives for management of the overall plan. Our Firm assists with the preparation of a written IPS detailing those needs and goals. The IPS also may list the criteria for selection of investment vehicles as well as the procedures and timing interval that assist the client in monitoring investment performance of the plan. Selection of Investment Options: We generally assist plan sponsors in constructing an appropriate investment mix. We will then help review various mutual funds (both index and managed) to help the client determine which investments are appropriate to implement, consistent with the client’s IPS. The client determines the number of investment options to offer inside a plan. Monitoring of Investment Performance: We generally assist the client in monitoring the plan’s investments. Although our Firm is not involved in the purchase or sale of these investments, we typically help the client supervise the plan and make recommendations to the client as market factors and the client’s needs dictate. Employee Communications: For pension, profit sharing and 401(k) plan clients where individual plan participants exercise control over assets in their own account (‘‘self-directed plans’’), we will upon request also provide quarterly educational support and investment seminars designed for the plan participants. Rothschild and the client determine the nature of the topics to be covered under the guidelines established in ERISA Section 404(c). Amount of Managed Assets As of 12/31/2022, we were actively managing $1,970,286,805 of clients’ assets on a discretionary basis plus $31,442,797 of clients’ assets on a non-discretionary basis.