FIDUCIENT ADVISORS LLC

Fiducient Advisors, LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) with its principal place of business located in Chicago, Illinois. References to we, us, our, the firm, Fiducient Advisors refer to Fiducient Advisors LLC unless the context otherwise requires.

We provide professional investment advisory and consulting and investment management services to institutional and non-institutional clients including, but not limited to, defined benefit and defined contribution plans (public and private), not-for-profit organizations, registered investment advisers, individuals, and family office.

Ownership and Management

Fiducient Advisors (formerly DiMeo Schneider & Associates, LLC) was established in 1995. We are currently owned by Fiducient Holdings, LLC, a limited liability company formed in the State of Delaware. Fiducient Advisors is a joint venture with two distinct membership classes. Class A membership interests are owned by individual Partners. Class B membership interest is owned by NFP Corp. (NFP). We have maintained a relationship with NFP since September 2000. NFP also owns other registered investment advisers, broker-dealers, insurance agencies and other product and service providers. Fiducient Advisors is under no obligation to sell any products or recommend any services to our clients as a result of NFP's ownership. The Chief Executive Officer, Sabrina M. Bailey is charged with running Fiducient Advisors day-to-day operations. She is supported by Fiducient Advisors Executive Committee.

Business Lines

1. Retirement Plans:

Our personal approach to working with retirement plan sponsors allows us to build strong, committed relationships with clients and offer tailored strategies intended to help reduce expenses, improve performance, and satisfy fiduciary responsibilities.

We provide certain non-discretionary services specifically designed to meet the needs of participant-directed plans. These services include assistance in determining the type and number of investments to be offered to participants, a fiduciary governance calendar, development of criteria to be used in selecting service providers, evaluation of recordkeeping fees, investment manager evaluations, drafting governance documents and participant education, which can include enrollment seminars and written educational materials. Depending on the situation, some clients will pay a fee to us for certain written educational materials, either as an explicit fee or as part of a bundled fee arrangement.

We also accept and acknowledge discretionary authority over retirement plan sponsors investment options as an ERISA 3(38) investment manager which allows us to select, monitor and replace investment options.

We provide investment advice, either on a discretionary or non-discretionary basis, to non-participant directed retirement plans. Client services typically include a fiduciary governance calendar, development/refinement/review of investment policy statements, asset allocation analysis, independent manager search, review and recommendations, investment performance measurement, analysis and reporting, portfolio diagnostic review and vendor searches. For some clients, we may provide asset liability analysis and periodic estimates of the plans funded position based on information received by the plans actuary.

We will also provide other projects or services to non-discretionary and discretionary retirement clients if clients request a specific service and defined in the agreement. Each client situation and level of discretionary authority are different as are the fees we charge for such services.

We provide non-advisory financial education services to plan participants through an interactive Financial Wellness Website offering financial education such as budgeting, debt management, managing credit and retirement. Non-advisory financial education services are also offered in group meetings and in one-on-one financial coaching sessions for plan participants.

We serve as investment manager as an ERISA 3(38) to the Fiducient Advisors Pooled Employer Plan (PEP) within the meaning of ERISA Section 3(43) that is established and maintained by Newport Group, Inc., the Pooled Plan Provider of the PEP, for the purpose of providing retirement benefits to employees of two or more employers.

2. Endowments and Foundations and other nonprofits:

Typical client types we serve in this business unit include colleges and universities, hospitals and healthcare groups, associations, independent schools, cultural institutions, charitable organizations, religious institutions, senior living/continuing care institutions and other nonprofit groups. Our investment approach is predicated on our robust capital market and investment manager research, with a focus on building diversified, efficient, and cost-effective portfolios and identifying optimal investment managers. Our approach to serving our endowment and foundation clients involves not only asset allocation and manager selection, but also review/creation of Investment Policy Statements, spending policy, fee negotiation, peer benchmarking, governance and administrative/operational assistance.

We assist clients on a discretionary basis with establishing investment objectives and policies. We then assume responsibility for asset allocation and portfolio construction, investment manager due diligence and selection, investment performance measurement, analysis and reporting, operational and administrative support, investment program governance and client education.

We offer non-discretionary investment advice and support to clients. This includes assisting the client with establishing investment objectives and policies, asset allocation, portfolio construction, investment manager due diligence and selection, investment performance measurement, analysis and reporting, investment program governance and client education. Under our non-discretionary model, clients can engage us for our Implemented Services program which includes, based on client need, various levels of administrative and operational support services. We will also provide other projects or services to non-discretionary and discretionary clients if a client requests a specific service. Each client situation and level of discretionary authority are different, as are the fees we charge for such services.

3. Wealth Management-The Wealth Office

The Wealth Office provides investment and financial planning services to private clients, family offices, corporate executives, business owners, and family foundations. Client investment strategies are developed based on individual goals and objectives. Fiducient Advisors offers comprehensive financial planning services to clients whose financial circumstances warrant such services. For clients who do not require or seek full financial planning, Fiducient provides investment-only services, which include an analysis of the clients existing portfolio and recommendations based on stated investment goals, objectives, and risk tolerance. Conversely, some clients may engage Fiducient solely for financial planning services, where we assess their financial situation and develop a financial plan without providing specific investment recommendations or ongoing investment management.

Fees for these services vary and are customized based on the scope of engagement and individual client circumstances, including the level of discretionary authority.

Fiducient Advisors also provides corporate-sponsored financial planning services through ExecutiveCFO, a program designed to offer financial planning support to corporate executives as an employee benefit. Through ExecutiveCFO, participating executives receive financial planning services tailored to their individual circumstances, including guidance on retirement planning, tax strategies, estate planning, and equity compensation. The scope of services provided varies based on the employers engagement terms and the executives specific financial needs. Fiducient does not provide investment management services as part of ExecutiveCFO unless explicitly agreed upon under a separate advisory agreement.

We created and monitored two additional model portfolios programs. The first is accessible to investors associated with advisers who are not affiliated with Fiducient Advisors. In this program, each non-affiliated adviser retains sole responsibility for determining the needs of their client and choosing which model can be appropriate. We do not have direct knowledge of, nor direct communication with, the non-affiliated advisers underlying client. The model portfolios have a minimum investment requirement of $50,000 and are appropriate for clients who wish to pursue one of the following broad investment strategies: cautious, conservative, balanced, moderately aggressive, and aggressive.

The second model portfolio program is accessible only to members of the American Society of Association of Executives (ASAE). The ASAE Investment Management Solution (formerly known as the ASAE Endowment, Foundation, and Investment Reserve Program) has a current minimum investment requirement of $500,000 and is appropriate for ASAE members who wish to pursue one of the following broad investment strategies: income, conservative, moderate growth, and growth. Importantly, although ASAE markets this program, advisory contracts are solely between members choosing to invest in the program and us. It is the responsibility of each client in the program to be actively involved in and formally approve the selection of the appropriate model portfolio strategy. Further, it is the clients responsibility to notify us of any changes to the information provided on their Confidential Investor Profile. Clients have daily access to a personalized web site through their custodian detailing their portfolio and they receive monthly statements from their custodian.

As it relates to all model programs, it is not possible to invest in shares of any model; instead, a portfolio owns the underlying funds to accomplish the strategic goals of each model. We exercise investment discretion in implementing each strategy and rebalancing the portfolios as appropriate. We have general electronic communications to inform our model portfolio clients about the performance of the hypothetical model portfolios and to highlight current economic developments. Any individual or entity participating in any model program will be required to utilize Charles Schwab & Co., Inc. as broker and custodian.

Financial Institutions Advisory Business

We assist financial institutions with asset allocation strategies, investment manager research and selection, performance reporting, marketing support and other services in exchange for a flat fee. The representatives of the financial institutions retain the authority to approve or reject all asset allocation strategies, investment manager recommendations or other materials that result from our services. In addition, each representative of the financial institutions retains sole responsibility for determining the needs of their client and in choosing which strategies or managers can be appropriate for them. From time to time, we can enter into a relationship with an underlying client of the financial institution to help provide services described in this Brochure, but only after executing a written investment advisory agreement between us and that underlying client. Other than in these instances, we do not have direct knowledge of, nor direct communication with, the underlying client of the financial institution or registered investment adviser.

Fiducient Advisors serves as investment manager or the sub-adviser to certain private fund vehicles. Where suitable or appropriate, they may be offered to accredited or qualified purchaser clients of The Wealth Office and Foundations and Endowments clients on a private placement basis.

Assets Under Advisement and Assets Under Management

As of December 31, 2024, we had approximately $34,179,643,851 billion of regulatory assets under management. Assets Under Advisement (AUA) may appear in client and sales materials in addition to Fiducient Advisors regulatory Assets Under Management (AUM). AUA is presented when, due to the nature of the contractual agreements with certain clients, we provide consultative advice to our clients in a non-discretionary capacity and do not maintain discretionary authority over the clients portfolios(s). In such relationships, the clients maintain the ability and authority to manage and allocate assets within their own portfolio(s) independent of our advice. Therefore, these clients are not reflected within regulatory assets under management. Instead, these engagements are represented as part of Fiducient's AUA. In the instance that AUA is listed in client or sales materials it will be accompanied by relevant disclosure indicating how AUA has been calculated.

General Services Offered to Clients

Based on our contract with a client, we will offer a broad range of services outlined below in several business units. We can also offer additional services which are individually negotiated with each client. These services can be offered through OCIO (Outsourced Chief Investment Officer) model or as non-discretionary investment consulting services.

Assistance is provided in the development and preparation of asset allocation studies and investment policy statements. These services typically involve analyzing a clients liquidity requirements, performance goals and risk tolerance levels as described to us by the client.

Asset liability analysis focuses on issues of asset mix and its impact on the projected future risk and return of the pension surplus/deficit for defined benefit plans given certain actuarial information provided by each plans outside actuary.

We assist clients in evaluating and comparing vendors that provide actuarial, recordkeeping, custodian, trust, and other vendor services.

We recommend investment managers from those included in our various databases that appear to be suitable for a client based upon information made available by the client (including the clients goals and financial needs) and by the managers. Where consistent with a clients profile (including a consideration of suitability, investment objectives, risk tolerance and liquidity needs), we can recommend interest in limited and private offerings, including but not limited to interests in private equity, hedge funds and venture capital investments. Such limited and private offerings carry additional risks.

We recommend mutual funds for clients based on our proprietary research and information publicly available.

We will provide client performance reports on a periodic basis. The performance reports typically provide clients with a summary of assets at the beginning and end of the period, including any additions or withdrawals and industry standard time-weighted rates of return, or IRR, depending on the appropriate measure for a given manager or pool of assets. The reports can also include graphic and tabular presentations of performance (including comparisons to appropriate market indices, inflation and stated goals), as well as market cycle comparisons, performance attribution and risk/return analysis. We create performance evaluation reports generally based upon custodial data for client accounts and information obtained and analyzed from a wide variety of sources, including information provided directly by investment managers and data services such as Morningstar and Lipper, amongst others. Although the information collected by us is believed to be reliable and we conduct due diligence on investment managers to assess the integrity and reliability of managers we recommend, we do not independently verify all information, nor do we guarantee the accuracy or validity of such information.

We provide historical asset performance evaluations for funds and/or managed accounts. Such reports can contain the same types of information as the current reports described above.

As requested by a plan sponsor, we can provide a range of general education/communication services including enrollment meetings, printed materials, and various custom programs from time to time.

Performance attribution reports provide quantitative data regarding an investment managers effectiveness with respect to market timing, style implementation, economic sector, and industry and investment selection.

Some clients have a written agreement with us and/or their custodian/broker that grants us certain administrative and trading responsibilities. These responsibilities can include an ability to: disburse assets owned by the client as requested and subject to written approval to the custodian from the client; execute portfolio trades pre-approved by the client or executed by us for discretionary accounts; and directly obtain fees earned by us from the respective client accounts held by the custodian/broker.

Consistent with our goal to satisfy the unique and special needs of our clients, we have accepted certain other responsibilities involving a measure of discretionary control as defined by a written agreement with clients.

We make available reports for clients, which provide periodic comprehensive reporting services and which can, if requested by a client, incorporate all the clients investment assets, including those investment assets that are not part of the assets managed by us (the Excluded Assets). The client or their other advisors that maintain trading authority over the Excluded Assets are responsible for the management and performance of the Excluded Assets. Our service relative to the Excluded Assets is limited to reporting and non-discretionary consulting services only and does not include investment implementation. We do not have trading authority for the Excluded Assets. The client or their other investment professionals are responsible for implementing any recommendations made by us for the Excluded Assets.