2023 Third Party Manager Matrix

ASSETS

2 0 2 3 WEALTH

DIVERSIFY INVESTMENT

ECONOMIC

THIRD PARTY MANAGER MATRIX FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

INDIVIDUAL STOCKS INDIVIDUAL BONDS Private Accounts available to Centaurus Advisors

10 Wilsey Square, Suite 200, Ridgewood, NJ 07450 201.447.3400 | www.AdvisorsCapital.com

2 THIRD PARTY MANAGER MATRIX OCTOBER 2023

An investment advisory firm

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

Contents Centaurus CLASSIC Plus

4

Absolute Capital 5 Advisors Capital Management

2023 Third Party Manager Matrix

6

AthenaInvest 7 Beacon Capital Management

9

Dunham & Associates

10

Dear Centaurus Investment Adviser Representative,

EQIS/Freedom Advisors

11

Flexible Plan Investments

13

iSectors

14

Orion

15

Q3 Asset Management

17

SEI

19

SEM

21

I’m extremely pleased to present you with the 2023 edition of Centaurus’s Third Party Manager Matrix. With the Matrix, we strive to produce a collection of central information on some of the leading institutional and boutique Third Party Managers available through Centaurus. This informational booklet has long been one of our most popular productions, and we’re eager to share this 2023 edition with you. We hope that this reference guide not only makes life easier for you, but also introduces you to new ideas and fuels your interest in learning more about each of the managers included in the Matrix.

The Pacific Financial Group

22

Weatherstone Capital

23

We anticipate that you will enjoy the reference materials, and we hope they may spark that one new idea that makes a difference in your practice.

All the best,

Tyler Shumaker SVP, Managing Director – Wealth Management Centaurus Financial, Inc. Please be advised that the information about the Third Party Managers referred to in this publication may have limitations and/or other disclosure requirements that many not be noted. As such, this material is not to be construed as part of any contract or agreement. This information is provided for broker/dealer use only and is not to be presented or distributed to the public. This information does not constitute a full disclosure, which may be available in the respective program or manager’s Form ADV or Offering Materials. All information contained herein is subject to change and should not be interpreted in any way as an offer or guarantee by either Centaurus Financial, Inc. or any of the Third Party Management companies.

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

OCTOBER 2023 THIRD PARTY MANAGER MATRIX 3

Centaurus CLASSIC Plus

Adviser Directed & Third Party Money Manager

Company Profile

Company Information

CLASSIC Plus offers a multitude of advisory programs designed to assist Centaurus investment adviser representatives (IARs) in growing their assets under management.

CLASSIC Plus is true to the independent hybrid model featuring IAR as portfolio manager options as well as turnkey solutions from premier ETF and Third Party Money Managers.

The open architecture of CLASSIC Plus provides IARs with the choice, flexibility and customization needed to create a unique and dynamic advisory practice!

Centaurus CLASSIC Plus 2300 E. Katella Avenue, Suite 200 Anaheim, CA 92806 (800) 880-4234 | centaurusfinancial.com

Available Services & Key Features

Contact: Centaurus Wealth Management Dept. classic@cfiemail.com (800) 880-4234

• Alpha: IAR as portfolio manager program available on the Pershing platform. IARs can create their own portfolio models using stock, ETF, mutual fund, bond, UIT and approved alternative investments. IAR is charged a platform fee + transaction charges. Client is charged IAR advisory fee.

Year Founded: 1998 # of Wealth Management Staff: 14 Total AUM/AUA: $3.519 billion (as of 6/30/23) # of Accounts Managed: 18,581 (as of 6/30/23)

• Beta: IAR as portfolio manager program available on the Pershing platform. IARs can create their own portfolio models using stock, ETF, mutual fund, bond, UIT and approved alternative investments. IAR is charged a platform fee. Client is charged IAR advisory fee + transaction charges.

Portfolio Manager: • IAR as Portfolio Manager (Alpha, Beta, Omega) • Approved ETF & Third Party Money Managers (FlexUMA) • Morningstar Investment Management, LLC (MMP)

• Omega: IAR as portfolio manager program available on the Charles Schwab & Co. (“Schwab”) platform. IARs can create their own portfolio models using stock, ETF, mutual fund, bond, UIT and approved alternative investments. IAR is charged a platform fee + transaction charges. Client is charged IAR advisory fee. (No transaction charges apply.)

• FlexUMA: A Unified Managed Account (UMA) program available on the Schwab platform. FlexUMA features ETF Select and UMA/Multi-Manager investment sleeves, which can be utilized individually or blended together for custom allocations. FlexUMA also offers “Tax Overlay Management” for an additional fee with the goal of improving clients’ after-tax returns on taxable accounts. Client is charged IAR advisory fee + platform fee + underlying manager fees (if applicable).

Types of Assets Managed: Varies by program Minimum Investment: • $25,000 (Alpha, Beta, Omega) • $0 (FlexUMA ETF Select) • $25,000 (FlexUMA UMA/Multi-Manager) • $25,000-$250,000 (MMP) Custodial Relationships: Pershing and Schwab

◊ ETF Select: A low-cost turnkey solution for smaller and price-sensitive clients that provides a selection of managed risk-based portfolios from leading ETF strategists (Vanguard, BlackRock and Morningstar).

Billing Frequency: • Monthly in arrears (Alpha, Beta, Omega) • Monthly in arrears/quarterly in advance (FlexUMA) • Quarterly in advance (MMP)

◊ UMA/Multi-Manager: Offers a selection of single or multi-manager models from industry-leading and boutique managers/strategists under one platform.

UMA/Multi-Manager provides access to a vast array of models such as stop loss strategies, sector rotation, tax free income, inflation protection, global markets, institutional investing, hard assets, alternatives and much more!

Schedule of Fees

• Morningstar® Managed Portfolios (MMP): Offers the professional guidance and access to strategies that can help investors reach their financial goals. MMP features a broad lineup of stock, mutual fund and ETF managed portfolios designed to help meet an investor’s needs at each stage of their life, whether they’re just starting out or already in retirement. Portfolios are managed by Morningstar Investment Management LLC on the Pershing platform. IAR is charged a platform fee. Client is charged IAR advisory fee + Morningstar Investment Services fee.

Fees vary by program. Please see the Wealth Management page of the Centaurus website for details.

Key Features: • Open architecture • Flexible program options • Customized reporting solutions • Home Office support and service

• Brand integration capability • Low account minimum • Turnkey solutions • Multiple custodial options

4 THIRD PARTY MANAGER MATRIX OCTOBER 2023

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

Absolute Capital Third Party Money Manager

Company Profile

Company Information

Absolute Capital was founded in 2002. It provides advisors a complete UMA platform focused on helping them manage their clients’ 401(k)/403(b)/457s (corporate retirement accounts) – often the client’s largest asset – while the client is still working. The company can work with 100,000+ retirement plans across the nation. Absolute’s W.I.N. (Workplace Investment Navigator) platform lets you customize a portfolio to meet a client’s specific goals and risk profile.

Additionally, Absolute Capital provides risk management solutions for clients’ nonqualified accounts and variable annuities. Fully dedicated to providing professional asset management solutions, Absolute Capital believes it is the astute investor’s choice for management services to navigate the changing and demanding investment landscape.

Available Services & Key Features • Unlock the ability to offer your clients management of 401(k)s, 403(b)s and 457s (employer-sponsored retirement plans) while they are still employed and put this AUM under management now; don’t wait for the rollover.

• Select and combine from over 500 asset management models from institutional asset managers such as BlackRock, State Street, Vanguard, American Funds and Dorsey Wright.

• Risk analysis of existing portfolios.

• Join Absolute Capital’s Marketing Support Program to receive customized consultation and resources to help you grow and market your practice.

• Choose from active strategies seeking defensive protection or dynamic allocation.

• Benefit from fee flexibility pricing that you can customize for each client.

• Receive a single, pre-populated “forms packet” for each client ready for signature.

• Absolute Capital’s strategies are also available on the Centaurus FlexUMA, Orion Portfolio Solutions and Envestnet platforms.

• Variable annuity management.

Management Options & Investment Strategies • ETF Model Managers available: Vanguard, BlackRock, State Street, Symmetry, River Street and more • Mutual Fund Model Managers available: American Funds, JP Morgan, Lazard, Goldman Sachs, Russell JA Forlines, Orion and more • Equity Model Managers available: Dorsey Wright, Eagle, Renaissance, Sawgrass Asset Management, Hilton and more • ESG, Tactical, Dynamic, BRI and other focused strategies available.

Absolute Capital Management 101 Pennsylvania Blvd.

Pittsburgh, PA 15228 (888) 388-8303 www.abscap.com | www.abscapfunds.com Contact: Brenden Gebben sales@abscap.com (888) 388-8303 Year Founded: 2002 # of Staff: 13 Total AUM: $270 million (as of 9/2023) # of Accounts Managed: 2,150 (as of 9/2023) Portfolio Manager: Brenden Gebben, MBA, CIMA® Types of Assets Managed: • Pre-rollover (while still employed) 401(k), 403(b), 457, 401(a) • IRA, non-qualified • Variable annuity Minimum Investment: $30,000 (some exceptions granted) Custodial Relationships: Aspire, Charles Schwab & Co., Envestnet, Fidelity Investment, Hewitt, Pershing, Trust Company of America, TIAA-CREF, T. Rowe Price, various variable annuity providers Available on FlexUMA: Yes Billing Frequency: Quarterly

Schedule of Fees Third Party Money Management Program • Advisor compensation 40 bps to 160 bps – Advisor Fee Flexibility

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

OCTOBER 2023 THIRD PARTY MANAGER MATRIX 5

Advisors Capital Management Third Party Money Manager

Company Profile

Company Information

Advisors Capital Management (ACM) is available to Centaurus advisers as a third party asset management firm, with the ability to custody client assets at Fidelity Investments and Charles Schwab & Co. ACM provides a separately managed account (SMA) platform that offers investors the ability to access a higher level of specialization and service. Within the SMA platform, individually tailored portfolios are designed specifically for the client, using individual securities.

ACM also provides a self-directed brokerage account offering called PathFinder. The PathFinder platform offers the participant the opportunity to access their financial expertise and our asset management firm.

Available Services & Key Features ACM specializes in building individual portfolios for clients, based on their specific risk tolerances and investment objectives. Some of the things that make us a little different are: • Use of individual securities • Securities held in client’s own account with client’s own cost basis • Active portfolio management • Low-cost basis tax workouts • Position-specific restrictions • Yield targeting

Advisors Capital Management 10 Eilsey Square, Suite 200 Ridgewood, NJ 07450 (201) 447-3400 | www.AdvisorsCapital.com Contact: Michael Lieberman Michael@advisorscenter.com (201) 447-3400 Year Founded: 1998 # of Home Office Staff: 45 Total AUM: $6.5 billion (as of 7/31/23) # of Accounts Managed: 11,500 (as of 7/31/23) Portfolio Managers: Multiple Types of Assets Managed: IRAs: Qualified and non-qualified accounts Minimum Investment: $150,000 Custodial Relationships: Fidelity Investments, Charles Schwab Available on FlexUMA: Yes Billing Frequency: Quarterly in advance

Management Options & Investment Strategies

Schedule of Fees

Client investment goals and risk spectrums come in all shapes and sizes. To meet those objectives, ACM provides two different investing platforms:

• Model Account Fees: .65% • Private Account Fees: .80% • Private Fixed Income: .35%

Model Accounts: Model accounts are designed and efficiently managed with a predetermined allocation based upon our proprietary investment strategies. These strategies provide solutions ranging from capital appreciation to global diversification.

Model Account Strategies Offered: • Growth, U.S. Dividend, Global Balanced, Income With Growth, Balanced (30/70, 50/50, 70/30), Small/Mid Cap, Global Growth, Global Dividend, International ADR • Minimum: $150,000 Private Accounts: Private accounts afford more flexibility when compared with Model accounts. With a Private account, each client portfolio can be precisely customized to the client’s specific investment objectives and risk tolerances. Tax efficiency, individual bonds and account allocations are just some of the tailored customizations that can be personalized at the private account level.

Private Account Strategies Offered: • Growth, U.S. Dividend, Income With Growth, Balanced, Fixed Income, Small/Mid Cap, Global Growth, Global Dividend, International ADR • Minimum: $300,000

6 THIRD PARTY MANAGER MATRIX OCTOBER 2023

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

Manager Name AthenaInvest

Third Party Money Manager

Company Profile AthenaInvest Advisors LLC (“AthenaInvest”) uses behavioral finance to discover unique behavioral opportunities and deliver innovative investment strategies.

The firm is led by C. Thomas Howard, PhD, CEO and Chief Investment Officer, a pioneer in the application of behavioral finance and author of “Behavioral Portfolio Management.”

AthenaInvest’s unique investment approach is based on proprietary research developed over 40 years of interaction with leading academics and institutional managers.

AthenaInvest has a patented behavioral research platform and a formalized framework to apply behavioral finance principles to investment management, known as Behavioral Portfolio Management (“BPM”). AthenaInvest has been registered as an investment adviser with the Securities and Exchange Commission (“SEC”) since June 16, 2008.

Available Services & Key Features

Company Information AthenaInvest 5340 South Quebec Street, Suite 365-N Greenwood Village, CO 80111 (877) 430-5675 | athenainvest.com Contact: Lambert Bunker lambert.bunker@athenainvest.com (303) 809-1367 Founded: 2005 # of Home Office Staff: 5 Total AUM: $417 million (as of 6/30/23) # of Accounts Managed: 5,115 Portfolio Managers: C. Thomas Howard, Andrew C. Howard

AthenaInvest offers a range of services, including:

Types of Assets Managed: equities, mutual funds, ETFs and options

• Investment management services for investment advisers and broker/dealers, including the management of separate accounts (“Separate Account Management”) and the creation of model or target portfolios and custom portfolio solutions.

Minimum Investment: $100,000 direct, $25,000 on platform, $2,500 mutual fund

• Advisory and sub-advisory services for registered investment companies and institutions.

Custodial Relationships: Schwab Advisor Services, Envestnet, Adhesion, Axxcess, SMArtX, Simplicity

Management Options & Investment Strategies • Athena Global Tactical ETFs: Designed to invest in the right market at the right time with variable market exposure. The portfolio utilizes patented behavioral market indicators to select broad market exposure, up to 200%, among equity markets and market capitalization or cash.

• Athena Market Rotation: Designed to invest in the right market at the right time. The portfolio utilizes patented behavioral market indicators to gauge and select broad market exposure among equity markets and market capitalization or cash.

Available on FlexUMA: Yes Billing Frequency: Adhesion – average daily balance quarterly in arrears

Schedule of Fees Varies by product and platform

• Athena Pure Valuation | Profitability: A high conviction strategy that builds on traditional value investing by incorporating behavioral analysis of management, analyst and creditor confidence.

• Athena Behavioral Tactical Mutual Fund: Global Tactical ETFs Strategy in a mutual fund.

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

OCTOBER 2023 THIRD PARTY MANAGER MATRIX 7

Turn-Key ETF Solution Designed for Smaller Accounts & Price Sensitive Clients No Minimum Investment Managed Risk Based ETF Portfolio Models from Leading ETF Strategists

Optional Tax Loss Harvesting Service Low Cost Strategies (0 to 20 bps)

Powered by:

For Broker-Dealer Use Only NotFor ForUse Use With With The For Broker-DealerUse Only • •Not The Public Public Centaurus Financial, Inc., TD Ameritrade Institutional, and Adhesion Wealth Advisor Solutions are separate, unaffiliated companies andFOR are not responsible for each 8 THIRD Financial, PARTY MANAGER MATRIX OCTOBER FOR BROKER/DEALER | NOT USE Centaurus Inc., BNY Mellon | Pershing and2023 Charles Schwab & Co. are separate, unaffiliated companiesUSE andONLY are not responsible forWITH each THE PUBLIC other’s services and products. other’s services and products. v.1.1 10/11/2018 V.3.0 08/18/23

Beacon Capital Management Third Party Money Manager

Company Profile

Company Information

Beacon Capital Management is a next-generation registered investment advisory firm that provides investment advisors and institutions innovative portfolio solutions designed to meet the investment needs of the individual clients they serve. Beacon designs and manages mechanical investment portfolios, each with proprietary and sophisticated risk management solutions, that focus on delivering consistent returns for the long-term investor.

Beacon takes a fundamental approach to portfolio management and invest based on Nobel award-winning research and simulation-tested risk management tactics. At Beacon, investors aren’t told to just “buy and hope” with their managed investments, nor are they advised to continue to rebalance a portfolio to some “ideal” 60/40 split. Strategies are mechanically calculated, and Beacon’s proprietary risk management strategies are designed with the goal of being preemptive and tactical.

Available Services & Key Features All of Beacon’s strategies are built around four key principles: Mechanical Investing: Investment parameters are set, then a passive management style, which the company believes is more effective than the market-timing approach of active management, is used. Diversification is the key to Beacon’s management style, and through its mechanical investing criteria, it allows investors to reduce unnecessary risks.

Methodical Risk Management: Effective risk management is just as important as returns.

Risk management starts with a solid asset allocation and strong diversification. Beyond these fundamentals, Beacon Capital Management utilizes proprietary risk mitigation and volatility management strategies. The goal of these advanced strategies is to help investors reduce the uncertainty of investment returns.

Research Driven: Beacon is always researching tomorrow’s solutions today, strongly believing that investors benefit when scientific research and past experience combine to solve new investment challenges. Beacon’s models are based on proven academic research from scholars, economists and various other renowned award winners.

Portfolio Simulations: An important component of Beacon’s investment philosophy is based on studying portfolio model history. Each model is tested by performing a simulation of the portfolio’s performance over the last 20 years. The knowledge gained by running simulations and examining the different scenarios makes Beacon very confident in the portfolio models it builds and recommends.

Beacon Capital Management, Inc. 7777 Washington Village Drive, Suite 280 Dayton, OH 45459 (866) 439-9093 | beaconinvesting.com Contact: Dan Baccarini, National Sales Manager baccarini@beaconinvesting.com (937) 660-9063 Oversees 12 External Regional Sales Directors Geographically located to provide on-site sales and consulting to advisors Year Founded: 2000 # of Home Office Staff: 25 Total AUM: $4,922,296,385 (as of 12/31/22 ) # of Accounts Managed: 16,372 (as of 12/31/22) Portfolio Manager: Chris Cook, President & CIO Types of Assets Managed: ETFs & mutual funds Minimum Investment: $100,000 household total Custodial Relationships: Charles Schwab & Co., Fidelity Available on FlexUMA: Yes Billing Frequency: Monthly in arrears

Management Options & Investment Strategies All of Beacon’s portfolios are structured as separate accounts and are offered in either an Aggressive, Balanced or Conservative Portfolio, which can also be mixed and matched with each other (e.g. 50% Aggressive and 50% Balanced, etc.).

Next-Generation Vantage 2.0 Portfolios: Utilize equally weighted portfolios of 11 Vanguard Sector ETFs and 3 Vanguard Fixed-Income ETFs. Beacon overlays these portfolios with a 10% trailing stop-loss.

Schedule of Fees First $500,000

0.55%

Minimum Annual Fee Charged: $400.00

For the next $500,000

0.35%

A top producer fee schedule is also available upon request.

For assets over $1,000,000

0.15%

Sammons Financial® is the marketing name for Sammons® Financial Group, Inc.’s member companies, including Beacon Capital ManagementSM.

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

OCTOBER 2023 THIRD PARTY MANAGER MATRIX 9

Dunham & Associates Third ThirdParty PartyMoney MoneyManager Manager

Company Profile

Company Information

Founded in 1985, Dunham & Associates Investment Counsel, Inc. is a private wealth management firm, Registered Investment Adviser and broker/dealer. Dunham features a family of public mutual funds with performance-based sub-adviser compensation, also commonly known as fulcrum fees. The Dunham Funds are available individually or as part of a turnkey asset management program.

As an affiliate, Dunham Trust Company offers traditional trust services including asset protection, special needs, administration, probate services, succession planning and charitable giving, to name a few.

Available Services & Key Features • Sub-adviser accountability: Dunham’s sub-advisers are paid on a fulcrum fee schedule • Turnkey proprietary mutual fund wrap program: Dunham’s Asset Allocation Program (AAP) • Distinctive fee options including performance-based fees for financial advisers • Tailored investment advisory proposals and periodic performance reports • Quarterly rebalancing • Online account access

• Assistance with case analysis • Customized proposals • Many of these sub-advisers’ expertise is typically not available to the public through other retail mutual fund platforms, as the Dunham Fund is the only U.S. mutual fund they manage using a similar strategy • Dunham’s manager selection and manager oversight of sub-advisers • Dunham’s Core Allocation parameters and shifts • Top quality customer service

Management Options & Investment Strategies • Dunham Asset Allocation Program (AAP): Employs a strategic asset allocation methodology. These strategic allocations are generally geared toward a long-term outlook, as Dunham’s goal is not to time the market, but instead, to design long-term allocations that will diversify the client’s portfolio and help the portfolio outperform the broad market indices over the long run, not guaranteed.

• Dunham Standard Asset Allocation Program (SAAP): A turnkey wrap solution that is structured with lower account minimums and flat advisory fees to help advisers broaden asset allocation options for investors.

Dunham & Associates 6256 Greenwich Drive, Suite 550 San Diego, CA 92122 (800) 442-4358 | dunham.com Contact: Peter Nesbitt peter.nesbitt@dunham.com (800) 442-4358 Year Founded: 1985 # of Home Office Staff: 84 Total AUM: $2,076,760,424 (as of 7/31/23) # of Accounts Managed: 10,288 (as of 7/31/2023) Portfolio Managers: Dunham/Allianz Global Investors, Dunham/Arrowstreet Capital, Dunham/ Bailard, Inc., Dunham/Barings Real Estate Advisors, Dunham/Ithaka Group, Dunham/Logan Circle Partners, Dunham/Mellon Capital, Dunham/ Newfleet Asset, Dunham/Perella Weinberg Partners, Dunham/Pier Capital, Dunham/Pinebridge Investments, Dunham/Rothschild Asset, Dunham/ Sungarden Investment Research Types of Assets Managed: Mutual funds, mutual fund wrap, trust services, retirement plans Minimum Investment: Dunham Funds Taxable Accounts: $5,000 IRA Accounts: $2,000 Custodial Relationships: Dunham Trust Company and U.S. Bank (fund custodian) Available on FlexUMA: Yes Billing Frequency: Quarterly in arrears

• Dunham Funds: Dunham offers a proprietary family of sub-advised public mutual funds that operate on performance-based advisory fees, also commonly known as fulcrum fees, and feature objectives ranging from capital preservation to aggressive growth. Available individually or as part of a turnkey asset management program.

Schedule of Fees • Flat Fee Option: The fee ranges from 0.25%-2.25% annually (determined by the client’s financial adviser). The fee also includes 0.25% that goes to Dunham & Associates. The fee is calculated monthly and charged quarterly using average account balance.

• Performance Fee Option: Account is charged 10% of the total net increase in the market value of the account using “high watermarks.” This fee is then split equally between Dunham & Associates and the financial adviser. The fee is calculated monthly and charged quarterly in arrears.

• Base Advisory Fee: 5 bps extra above and beyond your compensation for every $5 million you place in the performance-based fee program (with a maximum of 25 bps). This is paid to the financial adviser regardless of whether the account is up or down.

10 THIRD PARTY MANAGER MATRIX OCTOBER 2023

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

EQIS/Freedom Advisors Turnkey Asset Management Platform

Company Profile

Company Information

• Unmatched personal service from advisor assistants and consultants who know you and your practice • Modern, seamless technology platform makes it easier to do business • 100 money managers, 500 pre-built model portfolios • Passive and active money management • Strategic and tactical money management • Alternatives • Socially responsible investments • Client portal • Fees paid monthly • Automated document archiving for a paperless office • Monthly client performance reports • Account aggregation

Available Services & Key Features

EQIS/Freedom Advisors 1000 4th Street San Rafael, CA 94901 (800) 949-9936 | freedomadvisors.com Contact: Kelsey Hoffmeyer kelsey.hoffmeyer@EQIS.com (415) 966-2156 Year Founded: 2007 # of Home Office Staff: 50 Total AUM: $2 billion # of Accounts Managed: 14,000 Money Managers: 100 third party money managers across all styles and types

Freedom Advisors is a turnkey asset management platform freeing advisors to do what they do best. All components of running an advisory practice are brought together into one seamless, easy-to-use, flexible system that is accessible from anywhere on any device and can be privately branded for the RIA or advisor DBA.

Types of Assets Managed: Managed models of all types

The Freedom Advisors platform offers a complete asset management solution, seamlessly integrated technology, comprehensive outsourcing of operations and high-touch service to help advisors run efficient practices and deliver superior outcomes for clients.

Custodial Relationships: Goldman Sachs, Charles Schwab & Co., Fidelity IWS

Management Options & Investment Strategies Multi-Manager Models: Models cover the spectrum of asset classes to offer broad market exposure as well as more narrowly focused strategies covering more specialized asset classes or tactical approaches. We use a consistent, step-by-step process to build portfolios to match your clients’ needs: macroeconomic and capital market assumptions modeling to set asset allocation targets, manager and model due diligence and selection, model portfolio construction, and ongoing oversight, reallocation and rebalance.

Minimum Investment: $25,000

Available on FlexUMA: No Billing Frequency: Monthly in arrears

Single-Sleeve ETF and Fund Models: A wide variety of models from some of the world’s largest asset managers to exclusively boutique sub-asset class managers.

Schedule of Fees EQIS charges a Platform Fee that varies depending on the client household size, the investment program selected, and the advisor’s level of business with EQIS. The Platform Fee covers the costs of administering the platform, manager due diligence, model construction and operational support. The Platform Fee does not include the Advisory Fee, Investment Management Fee or other ancillary fees as may be applicable. See the EQIS Wrap Fee Brochure for more information.

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

OCTOBER 2023 THIRD PARTY MANAGER MATRIX 11

Behavioral Investing It’s all we do at AthenaInvest. Learn how behavioral investment strategies can improve client outcomes.

Athena Global Tactical ETFs Measuring crowd behavior for market exposure.

Overall Morningstar Rating™ as of June 30, 2023, rated against 362 Tactical Allocation Funds.1

Athena Pure Valuation | Prootability Measuring equity stakeholder behavior for stock selection.

Bull & Bear Master PSN Top Guns Bull & Bear Masters All Cap Value Universe as of June 30, 2023.2

5340 South Quebec Street, Suite 320-S Greenwood Village, CO 80111 Web: www.athenainvest.com Phone: (877) 430-5675 Email: support@athenainvest.com

1. Morningstar Ratings™ are based on risk-adjusted performance as of 6/30/2023. The Morningstar Rating™ for a strategy is derived from a weighted average of the performance gures associated with its three-, ve- and ten-year (if applicable) Morningstar Rating™ metrics. For each strategy with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for 12 THIRD PARTY MANAGER MATRIX OCTOBER 2023 FOR BROKER/DEALER USE performance.

ONLY | NOT FOR WITH THEcategory PUBLIC variation in a strategy’s monthly performance (including the effects of applicable fees), placing more emphasis on downward variations and rewarding consistent The top 10%USE of strategies in each receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star.

2. Bull & Bear Masters All Cap Value Universe awarded strategies had an r-squared of 0.80 or greater relative to the style benchmark for a three-year period. Moreover, the strategy had an upside market capture over 100 and a downside market capture less than 100 relative to the style benchmark. The top ten ratios of Upside Capture Ratio over Downside Capture Ratio become the PSN Bull & Bear Masters.

Flexible Plan Investments Third Party Money Manager

Company Profile

Company Information

Flexible Plan services only independent Registered Representatives and RIAs. Flexible Plan is focused on capital preservation and growth through defensive risk management.

Flexible Plan provides strategic diversification within a single client account at a low account minimum.

Flexible Plan develops tools to set, manage and monitor investor expectations.

Available Services & Key Features Dynamic risk-managed investing: Flexible Plan Investments responds to shifting market conditions as needed and seeks to provide investors with competitive returns while reducing risk through all market cycles. Its philosophy emphasizes access to a wide selection of asset classes in an attempt to reduce volatility over time while exercising short-term vigilance against unexpected events.

Strategic diversification: Adding multiple strategies to a portfolio seeks to provide a level of strategic diversification that aims to bridge the gap between bull market highs and bear market lows. The compounding effect over time of having multiple strategies, each responding differently to various market environments, aspires to narrow the volatility on the path to one’s investment goals.

Management Options & Investment Strategies • QFC Strategies: Flexible Plan’s most popular strategies.

• Core: Suitability-based strategies for different strategic goals.

• All-Terrain: Designed to deliver an absolute return strategy for all market environments.

• Domestic Tactical Equity: Dynamic risk-managed equity strategies.

• Fixed Incomes: Substitute for bond portfolio.

• Tactical Fixed Income: Aggressive trading vehicle using leveraged and inverse bond funds.

• Alternatives: Alternative strategies and asset classes.

• Sectors: Aggressive strategies designed for dynamic allocation to equity sectors.

• Principled Investing: Specialty risk-managed strategies supportive of client world view.

Flexible Plan Investments 3883 Telegraph Road Bloomfield Hills, MI 48302 (248) 652-6640 | flexibleplan.com Contact: Steve Demetrovits sdemetrovits@flexibleplan.com (800) 347-3539 Year Founded: 1981 # of Home Office Staff: 85 Total AUM: $1.6 billion (as of 6/30/23) # of Accounts Managed: 75 Portfolio Managers: 3 Types of Assets Managed: Core, Domestic Tactical Equity, Tactical Fixed Income, Sectors, Principled Investing Minimum Investment: $25,000 Custodial Relationships: AXOS, Fidelity, Charles Schwab & Co. Available on FlexUMA: Yes Billing Frequency: Quarterly in advance

Schedule of Fees Minimum $25,000 Management fees as low as 35 bps* Financial advisers flexible range: 0.0–1.25% * With applicable fee credits and/or waiver on strategies using FPI sub-advised funds Reduced advisory fees on aggregated accounts > $500,000

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

OCTOBER 2023 THIRD PARTY MANAGER MATRIX 13

iSectors

Third Party Money Manager

Company Profile

Company Information

iSectors® is an independent ETF investment strategist that provides advisors with a suite of proprietary asset allocation models using low-cost, index-based exchange traded funds (ETFs). iSectors’ investment management services, along with the technological infrastructure and support staff of our platform partners, helps advisors optimize their business efficiencies, affording them more time to get to know their clients and develop new client relationships.

Available Services & Key Features iSectors offers an array of asset allocation models that advisors can use in separately managed accounts or blend in unified managed accounts to meet the unique risk/return objectives of their clients. iSectors’ emphasis on indexed ETFs means advisors can offer clients low-cost, transparent and liquid investments appropriate for individual, institutional, retirement, trust or nonprofit accounts.

Management Options & Investment Strategies iSectors’ investment philosophy is rooted in academic research, modern portfolio theory and efficient markets. Therefore, iSectors is focused on low-cost, passive index ETFs and optimized asset allocation. We emphasize superior risk-adjusted returns and management of downside risk. iSectors’ unique, proprietary allocation models include Capital Preservation, Domestic Fixed Income, Endowment, Domestic Equity, Enhanced Income, Enhanced Conservative, Enhanced Balanced, Enhanced Growth, Enhanced Aggressive, Global Fixed Income, Global Conservative, Global Balanced, Global Growth, Global Equity, Inflation Protection, Liquid Alternatives, Post-MPT Growth, Post-MPT Moderate, Precious Metals and Tactical Global Balanced.

iSectors, LLC 5485 W. Grande Market Drive, Suite D Appleton, WI 54913 (800) iSectors | www.iSectors.com Contact: Scott Jones Scott.Jones@isectors.com (800) 869-5184 Year Founded: 2008 # of Home Office Staff: 8 Total AUM: $233,525,099 (as of 6/2023) # of Accounts Managed: 4,883 (as of 6/2023) Portfolio Managers: • Vern Sumnicht – CEO and CIO of iSectors, MBA, CFP® • John Koch - Senior Investment Analyst of iSectors Types of Assets Managed: SMAs Minimum Investment: See Schedule of Fees Section below Custodial Relationships: Advisor chooses custodian Available on FlexUMA: Yes Billing Frequency: Quarterly in arrears

Schedule of Fees iSectors Model

Model Fee

Minimum Investment

iSectors Model

Model Fee

Minimum Investment

Capital Preservation

0.30%

$15,000

Global Fixed Income

0.10%

$25,000

Domestic Equity

0.40%

$25,000

Global Growth

0.10%

$25,000

Domestic Fixed Income

0.30%

$25,000

Inflation Protection

0.50%

$15,000

Endowment

0.40%

$30,000

Liquid Alternatives

0.50%

$50,000

Enhanced Aggressive

0.40%

$25,000

Post-MPT Growth

0.50%

$25,000

Enhanced Balanced

0.40%

$25,000

Post-MPT Moderate

0.50%

$25,000

Enhanced Conservative

0.40%

$25,000

Precious Metals

0.50%

$15,000

Enhanced Growth

0.40%

$25,000

Tactical Global Balanced

0.50%

$25,000

Enhanced Income

0.40%

$25,000

Global Balanced

0.10%

$25,000

Global Conservative

0.10%

$25,000

Global Equity

0.10%

$25,000

14 THIRD PARTY MANAGER MATRIX OCTOBER 2023

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

Orion Third Party Money Manager

Company Profile

Company Information

Orion is a premier provider of the tech-enabled fiduciary process that transforms the advisor-client relationship by enabling financial advisors to prospect, plan, invest and achieve within a single, connected, technology-driven experience. Combined, our brand entities – Orion Advisor Tech, Orion Portfolio Solutions, Brinker Capital Investments, Redtail Technology and Orion OCIO – create a complete offering that empowers firms to attract new clients seamlessly, connect goals more meaningfully to investment strategies and outcomes, and ultimately track progress toward each investor’s unique definition of financial success.

With the addition of Redtail and Orion OCIO, the combined platform services $3.6 trillion in assets under administration and $61.7 billion of wealth management platform assets as of March 31, 2023. Supporting over 5 million technology accounts and thousands of independent advisory firms, Orion is the platform of choice for all growth-focused advisory firms looking to strengthen their client relationships, gain a competitive edge in a crowded marketplace and build strong, profitable businesses.

Available Services & Key Features • Customizable high net worth accounts • New and enhanced advisor and client technology • Direct indexing with tax management overlay services • Seamlessly connect Redtail and Orion Financial Planning with your proposal and account-opening process

Management Options & Investment Strategies

Orion 17605 Wright St. Omaha, NE 68130 (888) 455-4244 | www.Orion.com Total AUM: $3.6 trillion (platform assets as of 3/31/2023) Investment Team: • 27 professionals • 15 CFA charterholders • 3 CFA candidates • 25 years of experience amoung senior leadership Due Diligence Team: • 7 professionals • 10 years of experience on average • 3 CFA charterholders • 3 CFA candidates Types of Assets Managed: • Mutual funds • ETFs • Stock and bond models • Direct indexing • Customizable high net worth accounts

Advanced Asset Management Advisors

Fidelity Investments

Ocean Park

Minimum Investment: varies by strategy

Alliance Bernstein

First Trust Advisors

Orion Custom Indexing

American Funds

Global X

Orion Portfolio Solutions

Custodial Relationships: Charles Schwab & Co., Fidelity, Constellation Trust Company

BlackRock

Goldman Sachs

PIMCO

Available on FlexUMA: No

Brinker Capital

Horizon Capital Management

Polen Capital

Billing Frequency: Monthly, in arrears

Buckingham Strategic Partners

Invesco

Russell Investment

Capital Group

Janus Henderson

State Street

Clark Capital Management Group

Main Management

Toews Corporation

Cougar Global Investments

Meeder Investment Management

Vanguard

Crawford Investment Counsel

Morningstar Investment Management

AND MORE!

Dimensional Funds Advisors

Nuveen Asset Management

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

Disclosures: For financial professional use only.

Not intended for public distribution. Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor. The CFA® is a globally respected, graduate-level investment credential established in 1962 and awarded by CFA Institute, the largest global association of investment professionals. To learn more about the CFA charter, visit cfainstitute.org.

OCTOBER 2023 THIRD PARTY MANAGER MATRIX 15

J1Q@DHQGH2K@DQ/2?2>H/H?@Q!?NI1@<CQ;9?@!?IH1Q@9Q@<2?1A9</MQ><9G@DQSQ /!?NHNQL</1Q2<HQ<H@D!?B!?>QD9GQ@9Q8H1@Q1H<7HQ!?7H1@9<1QA9<Q@DHQAI@I<H5

3D2@,1QGDH<HQ)*%Q&HKK9?Q"Q H<1D!?>Q;9/H1Q!?4Q:HQ1HHQ@DHQG9<KNQA<9/P C9I<Q=H<1=H;@!7HQFQ2?NQGHQ1H<7HQ21Q2Q@<IHQHE@H?1!9?Q9AQC9I<Q@H2/5

'0O.O6 0 O + O- O RO- O . O ( O0 $ O # j J?QHE=2?1!7HQ;9//I?!@CQ9AQHE=H<@1Q2?NQ<H19I<;H1Q@D2@Q ;2?Q>I!NHQC9IQ@9Q1I;;H11^ j uI<Q!?7H1@/H?@1Q!?Q@DHQ/91@Q!??972@!7HQ2?NQ\HE!8KHQ @H;D?9K9>CMQ2KK9G!?>QC9IQ@9QNHK!7H<Q>2/HS;D2?>!?>Q HE=H<!H?;H1QA9<QC9I<Q2N7!19<1Q2?NQ!?7H1@9<14t j 3DHQI?/2@;DHNQ1;2KHQ2?NQ;2=28!K!@!H1Q9AQ@DHQH?@!<Hs )*%Q&HKK9?QH?@H<=<!1H4

%9IQ;2?Q8HQ;9?LNH?@Q@D2@Q?9Q/2@@H<QD9GQC9I<Q8I1!?H11QH79K7H1MQ GH,KKQ8HQ8CQC9I<Q1!NH4

¡®¡¤Q H<1D!?>Q }4QJKKQ<!>D@1Q<H1H<7HN4Q H<1D!?>Q }MQ/H/8H<Q *¬JMQ*% MQ }MQ!1Q2Q1I81!N!2<CQ9AQ3DHQ)2?BQ9AQ*HGQ%9<BQ&HKK9?Q }9<=9<2@!9?Q )*%Q&HKK9? 4 H<1D!?>QJN7!19<Q 9KI@!9?1Q }MQ/H/8H<Q *¬JMQ }MQ2?NQ)*%Q&HKK9?MQ*4J4MQ/H/8H<Q }MQ2<HQ2A~K!2@H1Q9AQ H<1D!?>Q }Q2?NQ2K19Q)*%Q&HKK9?Q;9/=2?!H14ªQ)*%Q&HKK9?Q!1Q@DHQ;9<=9<2@HQ8<2?NQ9AQ3DHQ)2?BQ9AQ*HGQ%9<BQ&HKK9?Q}9<=9<2@!9?Q2?NQ/2CQ8HQ I1HNQ@9Q<HAH<H?;HQ@DHQ;9<=9<2@!9?Q21Q2QGD9KHQ2?N|9<Q!@1Q72<!9I1Q1I81!N!2<!H1Q>H?H<2KKC4Q ?7H1@/H?@Q2N7!19<CQ1H<7!;H1MQ!AQ9AAH<HNMQ/2CQ8HQ =<97!NHNQ8CQ)*%Q&HKK9?QJN7!19<1MQ ?;4MQ2?Q!?7H1@/H?@Q2N7!1H<Q<H>!1@H<HNQ!?Q@DHQ¥?!@HNQ @2@H1QI?NH<Q@DHQ ?7H1@/H?@QJN7!1H<1QJ;@Q9AQ¢{ ®Q9<Q 9?HQ9<Q/9<HQ2A~K!2@H1Q9AQ)*%Q&HKK9?4Q3H;D?9K9>CQ1H<7!;H1Q/2CQ8HQ=<97!NHNQ8CQ H<1D!?>QzMQ ?;4Q 9<Q=<9AH11!9?2KQI1HQ9?KC4Q*9@Q!?@H?NHNQA9<Q

16 I1HQ8CQ@DHQ>H?H<2KQ=I8K!;4Q3<2NH/2<B 1 Q8HK9?>Q@9Q@DH!<Q<H1=H;@!7HQ9G?H<14 THIRD PARTY MANAGER MATRIX OCTOBER 2023

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

Q3 Asset Management Third Party Money Manager

Company Profile

Company Information

For advisers whose clients are concerned about risk, Q3 Asset Management was founded by floor traders and offers a diverse blend of quantitative investment strategies. Our goal is to provide investors with a rules-based approach that maintains the ability to adapt to changing market conditions. We are firm believers that true diversification is attained by using a blend of non-correlated investment programs. Since 2014, Q3 has been working closely with Centaurus advisers to help protect client assets and grow their business.

Available Services & Key Features • Marketing and seminar reimbursement program • Retirement plan and 403(b) lead generation • Online portfolio comparison tool • Adviser/client presentations • Quarterly adviser reviews

Q3 Asset Management 2175 Cole Street Birmingham, MI 48009 (248) 566-1122 | www.q3tactical.com Contact: Greg Reid greid@q3tactical.com (248) 566-1122, Ext. 103 Year Founded: 2006 # of Home Office Staff: 10 Total AUM: $648 million (as of 6/30/23) Portfolio Managers: • Bradford Giaimo, Founding Partner • Adam Quiring, Principal Partner • Bruce Greig, CFA, CAIA, Director of Research

Management Options & Investment Strategies Q3 offers a range of management strategies designed to complement each other, allowing portfolios to be created that are strategically diversified. These include Asset Allocation, Sector Rotation, Tactical and Fixed Income. A few popular examples:

Types of Assets Managed: SMAs, mutual funds, variable annuities, group plans (both overlay and plan level)

Bull Cipher - Tactical • Available on FlexUMA (Adhesion) • Long/neutral tactical strategy that invests in equity index funds • Signals are generated daily just prior to the market close • The strategy utilizes mean-reversion, trend-following and breakout trades • Seeks a positive rate of return over the course of a calendar year • Low correlation to the broad market, suitable for diversification

Minimum Investment: $25,000, Axos Advisor Services; $75,000, all others; group plans, no minimum

Voyage - Asset Allocation • Available on FlexUMA (Adhesion) • Offered in Conservative, Moderate and Growth Risk profiles • Active Asset Allocation reviewed weekly utilizing momentum • Allocates among portfolios of global equities, alternative assets and bonds

Available on FlexUMA: Yes

Custodial Relationships: • Primary - Axos Advisor Services, Fidelity, Schwab • Retirement - Matrix Trust, American Trust

Billing Frequency: Quarterly in arrears

Strategic Allocation – Sector • Available on FlexUMA (Adhesion) • Offered in Conservative, Moderate and Growth Risk profiles • Sector rotation focus utilizing momentum • Monitors approximately 40 sectors / sub-sectors and 10 fixed income funds

Schedule of Fees Q3 Fee

Representative Fee

Up to $500,000

0.65% - 1.00% Annually

Can Charge Up to an Additional 1.25%

Over $500,000

0.50% - 0.85% Annually

Can Charge Up to an Additional 1. 00%

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

OCTOBER 2023 THIRD PARTY MANAGER MATRIX 17

UMA MULTI-MANAGER Single or Multi-Manager Solutions Under One Platform Flexibility to Blend ETFs, Mutual Funds and 3rd Party Manager Models $25,000 Minimum Investment Risk Scored Proposal Generation Customized Dashboard with Practice Analytics Optional Tax Lost Harvesting Service

Powered by:

For Broker-Dealer Use Only • Not For Use With The Public Centaurus Financial, Inc., Charles Schwab & Co. and Adhesion Wealth Advisor Solutions are separate, unaffiliated companies and are not responsible for each 18 THIRD PARTY MANAGER MATRIX OCTOBER 2023 FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC other’s services and products. v.3.0 08/18/2023

3

SEI Third Party Money Manager

Company Profile Independent Advisor Solutions by SEI enables over 8,700 advisers to get back to the aspects of their business they most enjoy. SEI offers comprehensive outsourcing services, including turnkey investment and wealth management, leading-edge administration support and technology, and extensive practice management solutions. Powered by SEI Wealth Platform, SEI is a fee-simple approach to investment solutions with no program fees and no account minimums. SEI’s end-to-end platform helps advisers save time, increase revenues and differentiate themselves in the market (as of December 31, 2022).

Available Services & Key Features Resources and Capabilities: After 50 years of business, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $1 trillion in hedge, private equity, mutual fund and pooled or separately managed assets, including $418 billion in assets under management and $878 billion in client assets under administration. SEI has over 115 analysts in its Global Investment Management Unit. 70% of the team members are CFA charter holders with an average of 10 years of investment experience (as of June 30, 2023).

Utilize Goals-Based Investment Options: Designed to support accumulation, stability and income goals, SEI offers tax-managed and non-tax-managed Private Client Strategies, Tactical ETF Strategies and Distribution-Focused Strategies.

Company Information Independent Advisor Solutions by SEI One Freedom Valley Drive Oaks, PA 19456 (888) 734-2679 | www.seic.com/advisors Year Founded: 1968 # of Home Office Staff: 3,963 employees globally (as of 12/31/2022) Total AUM: $74.4 billion through investment advisers and $418 billion companywide (as of 6/30/2023) Portfolio Managers: SEI’s manager of manager process provides investors with institutional expertise. SEI has dozens of managers, including Parametric Portfolio Associates; LSV Asset Management; Brown Advisory, LLC; Neuberger Berman, LLC; and Acadian Asset Management, LLC.

Reduce Expenses: No account minimum for Mutual Fund Strategies. Managed Account Solution minimums per manager start at $50,000. ETF Strategy minimums are $25,000.

Pending Firm’s Home Office approval, when applicable.

Types of Assets Managed: managed account solutions, mutual fund strategies, retirement plans, fixed income, banking, personal trust, endowments & foundations, tactical and strategic ETF strategies, tax managed strategies and customized high net worth solutions

Facilitate Challenging Conversions: SEI can assist with small and stalled accounts, helping to save you valuable time.

Custodial Relationships: SEI Private Trust Company (SPTC)

Proposal and Case Analytics Support: Generate proposals, investment policy statements and detailed tax analysis for your clients easily through SEI’s Investment Services Team.

Available on FlexUMA: No

Wealth Management Services: SEI offers a comprehensive suite of personal trust and banking services that are easily offered in conjunction with a client’s investment account.

This includes unlimited check writing, ATM/debit card, overdraft protection, online bill pay, sweep accounts and securities-backed lending.

Goals-Based Reporting: State-of-the-art, goals-based performance reporting.

Tax Management: Sophisticated tax-management techniques including automated loss harvesting, gain loss offset and tax aware trading.

Billing Frequency: monthly and quarterly in arrears

Schedule of Fees • Average portfolio fund expenses are 90 bps. The portfolio expenses are drawn directly from the funds’ NAVs. • No custody fees for accounts over $50,000. An annual custody fee of $60 will be applied to accounts under $50,000.

Practice Management Support: Customized turnkey marketing materials, investorapproved seminars, research papers and commentaries, quarterly investment review webcasts and letter templates, adviser growth programs, revenue tips and market positioning and branding tools.

Management Options & Investment Strategies Strategies include goals-based, tax-managed and non-tax-managed, mutual fund strategies, managed account solutions, distribution-focused strategies, tactical ETF strategies and laddered bond portfolios. All strategies are implemented using institutional, best-of-breed, specialist money managers. SEI’s active investment management process provides ongoing oversight at the manager level and dynamic asset allocation within the portfolios.

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

OCTOBER 2023 THIRD PARTY MANAGER MATRIX 19

MANAGED PORTFOLIOS

Actively managed ETF, Mutual Fund and Select Equity Portfolios

• ETF: Conservative to aggressive core models.

• Mutual Fund: Outcome-based or asset allocation models with a multi-manager approach. Available Environmental, Social and Governance options.

• Select Equity Portfolios: Model and customizable portfolios spanning the stock market.

Multi-Strategy Portfolios allow clients to select multiple asset allocation strategies within a single account.

Available on the Centaurus Powered by:

20 THIRD PARTY MANAGER MATRIX OCTOBER 2023

Platform

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

SEM

Third Party Money Manager

Company Profile SEM Wealth Management is an expert in behavioral finance. All SEM models are quantitatively based, which removes subjectivity and emotions from the decision-making process. Rick Gage, originally a metallurgical engineer, founded the company in 1992. He oversees the development and improvement of the tactical trading systems and the management of the tactical models. Co-owner Jeff Hybiak is a CFA Charterholder and joined SEM in 1998. He oversees the Dynamic, AmeriGuard™ and Platinum investment models as well as the overall allocation to the individual client accounts.

Available Services & Key Features SEM serves as the Outsourced Chief Investment Officer (OCIO) for financial advisers who want to focus their time and efforts on financial planning. SEM creates customized investment portfolios for advisers and their clients based on the financial plan, cash flow strategy and investment personality. This approach helps both clients and advisers overcome their own behavioral biases and makes it more likely that they will stick to the long-term plan.

SEM has three distinct management strategies – tactical, dynamic and strategic.

• The “strategic” portfolios (AmeriGuard™) are designed to capture most or all of the upside of the benchmark while providing a psychologically important overlay to scale the allocation to risky assets down during secular shifts in the stock market.

• SEM’s Dynamic Asset Allocation models use our quantitative economic model of leading indicators to increase or decrease exposure to risky assets.

• SEM’s Tactical models serve as the key risk mitigator inside most of our clients’ investment portfolios. The tactical models are designed to get out of the markets faster than the other models when the indictors begin to flash warning lights.

When combined, SEM’s models tend to efficiently pull the risk of the overall portfolio down while providing additional diversification of strategies.

Management Options & Investment Strategies • AmeriGuard Portfolios: Balanced, Moderate, Growth, Aggressive, Max • Dynamic models: Income, Balanced and Aggressive Growth • Tactical models: Income Allocator, Tactical Bond, Tax Advantaged Bond, Enhanced Growth Allocator.

These models are available directly through our Axos Advisor Services platform. We also have a Biblically Responsible set of portfolios called Cornerstone.

In addition to our Tactical, Dynamic and Strategic portfolios, SEM offers a multi-manager blended portfolio utilizing some of the top quantitatively based managers in the country (Platinum Portfolios). We utilize our 28 years of experience managing our own quantitative models to perform deep due diligence on the managers. This includes daily monitoring of the outside managers and quarterly calls with the portfolio management teams. Most importantly, SEM’s combination looks at the underlying strategies and the correlation to each other. Each manager in the Platinum Portfolios plays a different role. Using these portfolios allows the adviser to focus on the financial plan while still getting the diversification of multiple outside managers.

Company Information SEM Wealth Management 11815 Aspengraf Lane, Suite 200 New Kent, VA 23124 (800) 408-2423 | www.semwealth.com Contact: Jeff Hybiak jhybiak@semwealth.com (800) 408-2423 Year Founded: 1992 # of Home Office Staff: 9 Total AUM: $825 million (as of 6/30/23) # of Accounts Managed: 3,900 (as of 6/30/23) Portfolio Managers: 4 Types of Assets Managed: ETFs and mutual funds Minimum Investment: $25,000 Custodial Relationships: Axos Advisor Services Available on FlexUMA: Yes Billing Frequency: Quarterly in arrears

Schedule of Fees Fees at Axos Advisor Services: • 1.12% for Tactical models • 0.75% for Dynamic models • 0.50% for AmeriGuard and Cornerstone models • 0.25% for Platinum models Breakpoints are available starting at $250,000 per household. Axos Advisor Services has a maximum platform fee of 0.12%, with breakpoints starting at $1 million per account.

FlexUMA fees for SEM models: • 0.70% for Tactical Bond • 0.50% for Dynamic Income and Dynamic Aggressive • 0.35% for AmeriGuard Growth and the Mastermind portolfio.

• 0.35% for Cornerstone FlexUMA

SEM also has 7 models available on the Flex UMA platform: Tactical Bond, Dynamic Income Allocation, Dynamic Aggressive Growth, AmeriGuard Growth and the Mastermind portfolio (a scaled-down version of the Platinum Portfolios). Two Biblically Responsible models also are available: Cornerstone Bond and Growth.

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

OCTOBER 2023 THIRD PARTY MANAGER MATRIX 21

The Pacific Financial Group Third Party Money Manager

Company Profile

Company Information

The Pacific Financial Group Inc. (TPFG) is the ONLY Multi-Manager, Multi-Strategy Turnkey Asset Management Platform designed specifically for Self-Directed Brokerage Accounts (SDBA) and the retirement plan investor. TPFG was an early pioneer in the group retirement and SDBA space. The firm has over 18,000 accounts and provides a diverse suite of programs dedicated to building, managing and preserving wealth for every investor.

Available Services & Key Features TPFG adds value and adviser AUM with a broad 401(k) Pre-Retirement Solution Program.

The firm has developed the expertise and infrastructure to offer advisory solutions through 24 institutions and over 100,000 qualified plans. TPFG has helped reduce the three major obstacles for financial advisers: • Complexity: Streamlined AUM gathering process.

• Compensation: RIA and IAR are compensated by the AUM. • Compliance: TPFG shares fiduciary role and responsibility.

TPFG’s 401(k) Pre-Retirement Solution program helps advisers immediately increase their AUM revenue from existing clients while attracting new prospects before competing for the highly coveted IRA rollover.

Management Options & Investment Strategies Strategy PLUS (SBDA): Combines our firm’s long and successful asset allocation history with an elite group of asset managers, giving you a way to offer expert guidance on all aspects of your client’s financial life.

Separately Managed Accounts (SMAs): Highly customized portfolio with investment options designed for specific client needs that can be tuned for particular tax sensitivities.

Though it can accommodate a minimum investment of $50,000, many advisers find this option ideal for clients with investable assets of more than $1,000,000.

Unified Managed Account: EPIC, the Enhanced Portfolio Investment Centre, is for advisers who want: • A cost-competitive program that helps them consolidate and organize their practice to minimize service issues.

• Multiple investment strategies in one account.

• A state-of-the-art risk profiling system that clients understand.

• An integrated portfolio construction tool that gives them the flexibility to build their own practice-level models or use actively managed models.

• Variable Annuity Optimization (VAO): Uses sophisticated analytical processes to accurately define VA sub-accounts that are notorious for style drift, which are then used to rebalance the VA portfolios with greater precision. Because most annuity companies offer only a small universe of investment choices, TPFG uses its equity and balanced strategies to support this option.

• Retirement Account Optimization (RAO): Ideal for 401(k), 403(b) or 457 accounts held at various custodians. TPFG offers turnkey and custom portfolios using the funds and asset classes offered by the sponsoring company. TPFG shares full fiduciary responsibility for managing accounts.

The Pacific Financial Group, Inc. 11811 NE 1st Street, Suite 201 Bellevue, WA 98005 (866) 583-8734 | www.tpfg.com Contact: Janet Lee JanetL@tpfg.com (425) 279-9963 Year Founded: 1984 # of Home Office Staff: 80 Total AUM: $3.4 billion (as of 7/31/23) # of Accounts Managed: 18,000+ (7/31/23) Portfolio Managers: • Judith Cheng, CFA, CAIA, Chief Investment Officer • Dan Helmick, Portfolio Manager • Connor Rochelle, Associate Financial Analyst Types of Assets Managed: SMAs, mutual funds, ETFs, variable annuities, retirement plans, participant accounts Minimum Investment: SDBA: no minimum SMA: $50,000 UMA: $50,000 VAO: $10,000 RPM & 401(k) PRS: no minimum on most platforms Custodial Relationships: Pershing, Fidelity, Charles Schwab & Co., Alight, SBL, TIAA-CREF, Vanguard, Nationwide, Mass Mutual, One America, Aspire, Principal, Prudential, Voya and Empower 4 Insurance Companies (VA): Jackson, Nationwide, Pacific Life, Security Benefit Available on FlexUMA: No Billing Frequency: Quarterly in advance on SMAs, UMAs & VAs. Monthly as earned on 401(k) PRS & Strategy Plus

Schedule of Fees • 0% (R shares): 1.00% (SMA & VA Option) for assets under $500,000 • 0% (R shares): 0.75% (SMA & VA Option) for assets from $500,001 to $3,000,000 • 0% (R shares): 0.50% (SMA & VA Option) for assets from $3,000,001 to $5,000,000 • 0% (R shares): 0.40% (SMA & VA Option) for assets from $5,000,001 to $10,000,000 • Negotiated for assets above $10,000,000.

IAR/Solicitor receives up to 0.75% on R shares & 50% of management fee on SMAs & VA Option, if not specified in a custom fee arrangement.

22 THIRD PARTY MANAGER MATRIX OCTOBER 2023

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

Weatherstone

Third Party Money Manager

Company Profile

Company Information

Weatherstone Capital Management has been tactically managing investment portfolios for more than 25 years and builds investment portfolios that can adapt to changing market conditions and move to being 100% invested in cash or bonds if market conditions warrant.

Weatherstone provides a full suite of portfolio strategies designed to alleviate the complexities of portfolio selection. We help you build a portfolio for investors who want a balanced approach to investing. We also offer portfolios designed to use market fluctuations to benefit from opportunities in individual companies during the course of a market cycle.

Available Services & Key Features Weatherstone offers tactical money management services and concentrated strategic equity portfolios.

We provide numerous investment options from different portfolio managers with the ability to mix and blend programs to provide a comprehensive solution for your clients. In addition, Weatherstone has a number of tools to assist you and your clients, including: • Quarterly reports directly from the custodian • Ongoing and regular communication • Quality sales support • Comprehensive suite of tactical and strategic solutions • Transparent online reporting detailing performance, positioning, transactions, tax information and more

Weatherstone Capital Management Plaza Tower 1, 6400 S. Fiddlers Green Circle Suite 1600 Greenwood Village, CO 80111 (303) 452-4374 | weatherstone.com Contact: Kyle Gentile kgentile@weatherstone.com (720) 509-3557 Year Founded: 2001 # of Home Office Staff: 18 Total AUM: $2.2 billion # of Accounts Managed: 1,565 Minimum Investment: $25,000 Custodial Relationships: Envestnet, Adhesion, Orion, Folio, SMArtX, Sawtooth Available on FlexUMA: Yes Billing Frequency: Quarterly in advance

Management Options & Investment Strategies Multiple tactical investment programs are available: Conservative • Managed High Yield • Conservative Growth • Asset Enhancement • Income Plus

Moderate • Balanced Growth • Diversified Growth • Focused Growth

Strategic Concentrated Portfolios • Strategic Dividend • High Quality Growth • International High Quality Growth

Schedule of Fees • Tactical: Up to 1.95% annual management fee with 1% payout • Tactical Foundation and Strategic/Active: Up to 1.75% annual management fee with 1% payout Custodial fees are separate

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC

OCTOBER 2023 THIRD PARTY MANAGER MATRIX 23

THE FUTURE OF INVESTING

ETF Investment Models for All Seasons iSectors® is an independent ETF investment strategist that provides advisors with a suite of proprietary asset allocation models using low cost, index-based ETFs.

Learn more at iSectors.com 800.iSectors (800.473.2867)

5485 W. Grande Market Drive, Suite D, Appleton, WI 54913 24 THIRD PARTY MANAGER MATRIX OCTOBER 2023

FOR BROKER/DEALER USE ONLY | NOT FOR USE WITH THE PUBLIC