This Disclosure document is being offered to you by Cornerstone Advisors, LLC (“Cornerstone Advisors” or “Firm”) about the investment advisory services we provide. It discloses information about our services and the way those services are made available to you, the client. We are an SEC registered investment management firm located in Topeka, Kansas. We specialize in investment advisory services for individuals, high net worth individuals, corporations, charitable organizations, trusts and estates. Cornerstone Advisors was established in 2000 as a registered investment advisor. The owners are Mark Bucholtz and Jeff Sorensen. We are committed to helping clients build, manage, and preserve their wealth, and to provide assistance that helps clients to achieve their stated financial goals. We will offer an initial complimentary meeting upon our discretion; however, investment advisory services are initiated only after you and Cornerstone Advisors execute an Investment Management Agreement. Investment Management Services We manage advisory accounts on a discretionary or non-discretionary basis. Once we have determined a profile and investment plan with a client, we will execute the day-to-day transactions without seeking prior client consent. For those clients who have given us dis- cretionary authority, besides day-to-day transactions, we will also execute trades without seeking prior client consent. Account supervision is guided by the profile and investment plan of the client. With our non-discretionary relationship, we will provide recommenda- tions to help meet your financial objectives, but we must obtain your approval before mak- ing any transactions in your account. We may accept accounts with certain restrictions if circumstances warrant. We primarily allocate client assets among cash and cash equivalents, stocks, bonds, various mutual funds and Exchanged Traded Funds (“ETFs”) in accordance with their stated investment objectives. As appropriate, we may recommend non-traded REITS, structured notes, or other alternative investments for some qualified clients. We may also accommodate client requests for purchase of specific equities. All of which are considered asset allocation cat- egories for the client’s investment strategy. During personal discussions with clients, we determine the client’s objectives, time horizons, risk tolerance and liquidity needs. As appropriate, we also review a client’s prior investment history, as well as family composition and background. Based on client needs, we develop a client’s personal profile and investment plan. We then create and manage the client’s investments based on that profile and plan. It is the client’s obligation to notify us immediately if circumstances have changed with respect to their goals. Once we have determined the appropriate strategy for you and your family and executed the strategy, we will provide ongoing investment review and management services. This approach requires us to periodically review your portfolio. With our discretionary relationships, we will make changes to the portfolio, as we deem appropriate, to meet your financial objectives. We trade these portfolios based on the combination of our market views and your objectives. We tailor our advisory services to meet the needs of our clients and seek to ensure that your portfolio is managed in a manner consistent with those needs and objectives. You will have the ability to leave standing instructions with us to refrain from investing in particular industries or invest in limited amounts of particular securities. Our Firm may advise a Client about legacy positions or other investments in Client portfo- lios. Clients can limit or restrict our trading in these positions. Where appropriate, we provide advice about concentrated stock positions already held in client portfolios. Clients can engage us to advise them on certain investment products that are not maintained at their primary Custodian, such as annuity contracts and assets held in employer-sponsored retirement plans and qualified tuition plans (i.e., 529 plans). You are advised and are expected to understand that our past performance is not a guarantee of future results. Certain market and economic risks exist that adversely affect an account’s performance. This could result in capital losses in your account. Financial Planning We work with all clients to understand their financial objectives. For most clients, our asset management fee includes the cost of financial planning. If more complex planning is needed, Cornerstone Advisors may charge separate fees under a Financial Planning Agreement for the preparation of a formal financial plan. Through the financial planning process, our team strives to engage our clients in conversations around the family’s goals, objectives, priorities, vision, and legacy – both for the near term as well as for future generations. With the unique goals and circumstances of each family in mind, we may offer financial planning ideas and strategies to address the client’s holistic financial picture, including estate, income tax, charitable, cash flow, wealth transfer and family legacy objectives. We partner with our clients’ other advisors

(CPA, estate attorney, insurance broker, etc.) to ensure a coordinated effort of all parties toward the client’s stated goals. Such services include various reports on specific goals and objectives or general investment and/or planning recommendations, guidance to outside assets and periodic updates. Our specific services in preparing your formal financial plan may include:
• Review and clarification of your financial goals;
• Assessment of your overall financial position including cash flow, balance sheet, investment strategy, risk management and estate planning;
• Creation of a unique plan for each goal you have, including personal and business real estate, education, retirement or financial independence, charitable giving, estate planning, business succession and other personal goals;
• Development of a goal-oriented investment plan, with input from various advisors to our clients around tax suggestions, asset allocation, asset location, expenses, risk and liquidity factors for each goal. This includes IRA and qualified plans, taxable and trust accounts that require special attention. The recommendations for the financial plan will not be reviewed nor updated, unless re- quested by the client at which point a new Financial Planning Agreement between Client and Advisormay be executed. Consulting Services We also provide clients investment advice on a more limited basis on one-or-more isolated areas of concern such as small business consulting, real estate, pension plan consulting, or any other specific topic. Additionally, we provide advice on non-securities matters about the rendering of estate planning, insurance, real estate, and/or annuity advice. All these are rendered under a Consulting Services Agreement. In these cases, we may supply recommendations, but you will be required to select your own investment managers, custodian and/or insurance companies for the implementation of consulting recommendations. If your needs include brokerage and/or other financial services, we will recommend the use of one of several investment managers, brokers, banks, custodians, insurance companies or other financial professionals. You must independently evaluate these firms before opening an account or transacting business, and you have the right to effect business through any firm you choose. Also note, you have the right to choose whether to follow the consulting advice that we provide. Disclosure Regarding Rollover Recommendations A client or prospect leaving an employer typically has four options regarding an existing retirement plan (and may engage in a combination of these options): (1) leave the money in the former employer’s plan, if permitted, (2) roll over the assets to the new employer’s plan, if one is available and rollovers are permitted, (3) rollover to an Individual Retirement Account (“IRA”), or (4) cash out the account value (which could, depending upon the client’s age, result in adverse tax consequences). Our Firm may recommend an investor roll over plan assets to an IRA for which our Firm provides investment advisory services. As a result, our Firm and its representatives may earn an asset-based fee. In contrast, a recommendation that a client or prospective client leave their plan assets with their previous employer or roll over the assets to a plan sponsored by a new employer will generally result in no compensation to our Firm. Our Firm, therefore, has an economic incentive to encourage a client to roll plan assets into an IRA that our Firm will manage, which presents a conflict of interest. To mitigate the conflict of interest, there are various factors that our Firm will consider before recommending a rollover, including but not limited to: (i) the investment options available in the plan versus the investment options available in an IRA, (ii) fees and expenses in the plan versus the fees and expenses in an IRA, (iii) the services and responsiveness of the plan’s investment professionals versus those of our Firm, (iv) protection of assets from creditors and legal judgments, (v) required minimum distributions and age considerations, and (vi) employer stock tax consequences, if any. All rollover recommendations are reviewed by our Firm’s Chief Compliance Officer and remains available to address any questions that a client or prospective client has regarding the oversight. We are fiduciaries under the Investment Advisers Act of 1940 and when we provide investment advice to you regarding your retirement plan account or individual retirement account, we are also fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. We have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. Wrap Fee Program We do not sponsor a Wrap Fee Program. Assets As of December 31, 2023, Cornerstone Advisors manages a total of $218,023,298 regula- tory assets under management. Our firm manages $184,187,951 in discretionary assets and $33,835,347 in non-discretionary assets.