Description of Services and Fees Lifestyle Asset Management, Inc. is a registered investment adviser based in Friendswood, Texas. We are organized as a sub-Chapter S corporation under the laws of the State of Texas. We have been providing investment advisory services since 2011. Michael Wegner is our principal owner. Currently, we offer the following investment advisory services, which are personalized to each individual client:
• Portfolio Management Services
• Pension Consulting Services
• Sub-Advisory Services
• Financial Planning Services The following paragraphs describe our services and fees. Please refer to the description of each investment advisory service listed below for information on how we tailor our advisory services to your individual needs. As used in this brochure, the words "we", "our" and "us" refer to Lifestyle Asset Management, Inc., and the words "you", "your" and "client" refer to you as either a client or prospective client of our firm. Also, you may see the term Associated Person throughout this brochure. As used in this brochure, our Associated Persons are our firm's officers, employees, and all individuals providing investment advice on behalf of our firm. Portfolio Management Services We offer discretionary and, at our option, non-discretionary portfolio management services. Our investment advice is tailored to meet our clients' needs and investment objectives. If you retain our firm for portfolio management services, we will meet with you to determine your investment objectives, risk tolerance, and other relevant information (the "suitability information") at the beginning of our advisory relationship. We will use the suitability information we gather to develop a strategy that enables our firm to give you continuous and focused investment advice and/or to make investments on your behalf. As part of our portfolio management services, we will invest your assets using a predefined strategy, or according to one or more model portfolios developed by our firm. Once we construct an investment portfolio for you or select a model portfolio, we will monitor your portfolio's performance on an ongoing basis, and will rebalance the portfolio as required by changes in market conditions and in your financial circumstances. If you participate in our discretionary portfolio management services, we require you to grant our firm discretionary authority to manage your account. Discretionary authorization will allow our firm to determine the specific securities, and the amount of securities, to be purchased or sold for your account without your approval prior to each transaction. Discretionary authority is typically granted by the investment advisory agreement you sign with our firm, a power of attorney, or trading authorization forms. You may limit our discretionary authority (for example, limiting the types of securities that can be purchased or sold for your account) by providing our firm with your restrictions and guidelines in writing. If you enter into non-discretionary arrangements with our firm, we must obtain your approval prior to executing any transactions on behalf of your account. Portfolio Lineup Individual Equity Separate Accounts ($100,000 minimum) 1. LSAM Legacy GARP The objective of the LSAM Legacy GARP Portfolio is growth of capital. The portfolio seeks its objective by normally investing at least 90% of its assets in common stocks of global companies that have improving fundamentals (based on growth criteria) and whose stock is reasonably valued or undervalued by the market (based on value criteria). At least 80% of the portfolio is invested in common stocks of global companies with market capitalizations of $5 billion or above. This portfolio is appropriate for investors with a time horizon of ten years or greater. Risk level is considered to be aggressive. 2. LSAM Large-Cap GARP The objective of the LSAM Large-Cap GARP Portfolio is growth of capital. The portfolio seeks its objective by normally investing at least 90% of its assets in common stocks of U.S based companies that have improving fundamentals (based on growth criteria) and whose stock is reasonably valued or undervalued by the market (based on value criteria). At least 80% of the portfolio is invested in common stocks of U.S. based companies with market capitalizations of $5 billion or above. This portfolio is appropriate for investors with a time horizon of ten years or greater. Risk level is considered to be aggressive. 3. LSAM Equity-Income The objective of the LSAM Equity-Income portfolio is growth of capital with an equally essential objective of current income. The portfolio seeks its objective by normally investing at least 90% of its assets in common stocks of global companies that have strong growth potential, and in addition, high sustainable dividend yields. This portfolio is appropriate for investors with a time horizon of ten years or greater. Risk level is considered to be aggressive. 4. LSAM ALL-CAP 30 The objective of the LSAM ALL-CAP 30 Portfolio is growth of capital. The portfolio seeks to meet its objective by normally investing at least 90% of its assets in common stocks of global companies that have sustained better than average rates of growth in both revenue and operating income. At least 80% of the portfolio is invested in common stocks of global companies with market capitalizations over $1 billion. This portfolio is appropriate for investors with a time horizon of ten years or greater. Risk level is considered to be aggressive. Custom Total Return Portfolios ($500K minimum) 1. LSAM Total Return Growth The objective of the LSAM Total Return Growth portfolio is to obtain long-term capital appreciation. Under normal market conditions, the portfolio is invested in diversified allocations of domestic and international equities and bonds, alternative investments and money market funds. This Total Return portfolio is customized on a client-by-client basis, and utilizes individual stocks, individual bonds, mutual funds and Exchange-Trade Funds, as well as other investments that are appropriate for meeting the objective of the portfolio. The portfolio is appropriate for investors with a time horizon of seven to ten years. Risk level is considered to be moderately aggressive. Typical allocation: 70% - 90% equity + alternative assets / 10% - 30% fixed income + cash 2. LSAM Total Return Balanced Growth The objective of the LSAM Total Return Balanced Growth portfolio is to produce moderate growth of capital with a secondary objective of current income. Under normal market conditions, the portfolio is invested in diversified allocations of domestic and international equities and bonds, alternative investments and money market funds. This Total Return portfolio is customized on a client-by-client basis, and utilizes individual stocks, individual bonds, mutual funds and Exchange-Trade Funds, as well as other investments that are appropriate for meeting the objective of the portfolio. The portfolio is appropriate for investors with a time horizon of five to seven years. Risk level is considered moderate. Typical allocation: 50% - 70% equity + alternative assets / 30% - 50% fixed income + cash 3. LSAM Total Return Balanced Income The objective of the LSAM Total Return Balanced Income portfolio is to produce current income with a secondary goal of moderate growth of capital. Under normal market conditions, the portfolio is invested in diversified allocations of domestic and international equities and bonds, alternative investments and money market funds. This Total Return portfolio is customized on a client-by-client basis, and utilizes individual stocks, individual bonds, mutual funds and Exchange-Trade Funds, as well as other investments that are appropriate for meeting the objective of the portfolio. The portfolio is appropriate for investors with a time horizon of three to five years. Risk level is considered low to moderate. Typical allocation: 30% - 50% equity + alternative assets / 50% - 70% fixed income + cash Fund Allocation Portfolios ($50,000 minimum) 1. LSAM Aggressive Growth The objective of the LSAM Aggressive Growth portfolio is to obtain long-term capital appreciation without regard for current income. Under normal market conditions, the portfolio is invested in mutual fund and Exchange-Traded Fund allocations of domestic and international equities, alternative investments and money market funds. This portfolio is appropriate for investors with a time horizon of ten years or greater. Risk level is considered to be aggressive. Typical allocation: 90% - 100% equity + alternative assets / 0% - 10% fixed income + cash 2. LSAM Growth The objective of the LSAM Growth portfolio is to obtain long-term capital appreciation. Under normal market conditions, the portfolio is invested in mutual fund and Exchange- Traded Fund allocations of domestic and international equities and bonds, alternative investments and money market funds. This portfolio is designed for investors seeking long- term growth with moderate risk and is appropriate for investors with a time horizon of seven to ten years. Risk level is considered to be moderately aggressive. Typical allocation: 75% - 85% equity + alternative assets / 15% - 25% fixed income + cash 3. LSAM Balanced Growth The objective of the LSAM Balanced portfolio is to produce moderate growth of capital with a secondary objective of current income. Under normal market conditions, the portfolio is invested in mutual fund and Exchange-Traded Fund allocations of domestic and international equities and bonds, alternative investments and money market funds. This portfolio is appropriate for investors with a time horizon of five to seven years. Risk level is considered moderate. Typical allocation: 55% - 65% equity + alternative assets / 35% - 45% fixed income + cash 4. LSAM Retirement Income The objective of the LSAM Retirement Income portfolio is to produce moderate growth of capital with an equal secondary objective of current income. Under normal market conditions, the portfolio is invested in diversified mutual fund and Exchange-Traded Fund allocations of domestic and international equities and bonds, alternative investments

and money market funds. This portfolio is appropriate for investors with a time horizon of five to seven years. Risk level is considered moderate. Typical allocation: 55% – 65% equity + alternative assets / 35% – 45% fixed income + cash 5. LSAM Balanced Income The objective of the LSAM Balanced Income portfolio is to produce current income with a secondary goal of minimal to moderate growth of capital. Under normal market conditions, the portfolio is invested in diversified mutual fund and Exchange-Traded Fund allocations of domestic and international bonds, alternative investments, equities and money market funds. This portfolio is appropriate for investors with a time horizon of three to five years. Risk level is considered low to moderate. Typical allocation: 35% - 45% equity + alternative assets / 55% - 65% fixed income + cash 6. LSAM Conservative The objective of the LSAM Conservative portfolio is to preserve capital and produce current income with a secondary goal of minimal growth of capital. Under normal market conditions, the portfolio is invested in diversified mutual fund and Exchange-Traded Fund allocations of domestic and international bonds, alternative investments, equities and money market funds. This portfolio is appropriate for investors with a time horizon of less than three years. Risk level is considered low. Typical allocation: 15% – 25% equity + alternative assets / 75% – 85% fixed income + cash Pension Consulting Services We offer pension consulting services to employee benefit plans and their fiduciaries based upon the needs of the plan and the services requested by the plan sponsor or named fiduciary. In general, these services may include an existing plan review and analysis, plan-level advice regarding fund selection and investment options, education services to plan participants, investment performance monitoring, and/or ongoing consulting. These pension consulting services are either non-discretionary or discretionary and advisory in nature. For non-discretionary pension consulting, the ultimate decision to act on behalf of the plan shall remain with the plan sponsor or other named fiduciary. We may also assist with participant enrollment meetings and provide investment-related educational seminars to plan participants on such topics as:
• Diversification
• Asset allocation
• Risk tolerance
• Time horizon Our educational seminars may include other investment-related topics specific to the particular plan. We may also provide additional types of pension consulting services to plans on an individually negotiated basis. All services, whether discussed above or customized for the plan based upon requirements from the plan fiduciaries (which may include additional plan-level or participant-level services) shall be detailed in a written agreement and be consistent with the parameters set forth in the plan documents. Either party to the pension consulting agreement may terminate the agreement upon 30-days’ written notice to the other party. The pension consulting fees will be prorated for the quarter in which the termination notice is given and any unearned fees will be refunded to the client. Advisory Services to Retirement Plans As disclosed above, we offer various levels of advisory and consulting services to employee benefit plans ("Plan") and to the participants of such plans (“Participants”). The services are designed to assist plan sponsors in meeting their management and fiduciary obligations to Participants under the Employee Retirement Income Securities Act (“ERISA”). Pursuant to adopted regulations of the U.S. Department of Labor under ERISA Section 408(b)(2), we are required to provide the Plan's responsible plan fiduciary (the person who has the authority to engage us as an investment adviser to the Plan) with a written statement of the services we provide to the Plan, the compensation we receive for providing those services, and our status (which is described below). The services we provide to your Plan are described above, and in the service agreement that you have previously signed with our firm. Our compensation for these services is described below, at Item 5, and also in the service agreement. We may, with consent of the Plan, and in accordance with Plan documents, bill out-of-pocket expenses (such as overnight mailings, messenger, translation fees, etc.) at cost. We do not reasonably expect to receive any other compensation, direct or indirect, for the services we provide to the Plan or Participants. Nonetheless, if we receive any other compensation for such services, we will (i) offset the compensation against our stated fees, and (ii) we will promptly disclose the amount of such compensation, the services rendered for such compensation and the payer of such compensation to you. In providing services to the Plan and Participants, our status is that of an investment adviser registered with the State of Texas and other state securities authorities and we are not subject to any disqualifications under Section 411 of ERISA. In performing fiduciary services, we are acting either as a non-discretionary fiduciary of the Plan as defined in Section 3(21) under ERISA, and/or as a discretionary fiduciary of the plan as defined in Section 3(38) under ERISA. Sub-Advisory Services We maintain referral relationships with various unaffiliated registered investment advisers ("referring advisers"), whereby these advisers refer clients to us for asset management services. Under such arrangements, we will actively manage the client's portfolio and we will assume investment discretion and trading authority over the managed account. The referring advisers will not manage or obtain investment discretion or trading authority over the assets in your account. However, under the terms of the agreement signed with the referring advisers, they may assume discretionary authority to terminate the relationship with our firm and reallocate assets to other advisers for management services. You should review each referring adviser's agreement and disclosure brochure carefully for specific information on their services. You should contact the referring advisers directly with questions regarding their services. We also provide models and buy/sell signals to registered investment advisers subscribers on an individual basis whereby an RIA firm may engage us directly to provide a model (including updates or rebalancing thereto) for a fixed fee which is charged quarterly. These buy/sell signals are indicators regarding the timing of different investments. A buy is an indicator that the price, momentum, and/or other factors imply a particular security should be bought. A sell signal is the opposite, and is an indicator that a particular security should be sold. Signals take into account various fundamental and technical factors. There is no guarantee of the accuracy of any signal, and acting on signals may produce gains and/or losses. Recipient subscribers are under no obligation to act on any of the signals provided by Lifestyle Asset Management, Inc. The agreement with each advisor is for one year and is renewed annually. The fee for this service is negotiated on a case by case basis with each investment adviser and is not based on the amount of assets the adviser places into the model. Selection of Other Advisers We may recommend that you use the services of a sub-adviser to manage all, or a portion of, your investment portfolio. After gathering information about your financial situation and objectives, we may engage a specific sub-adviser or investment program. Factors that we take into consideration when making our decision as to which sub-adviser(s) to use include, but are not limited to, the following: the sub-adviser's performance, methods of analysis, fees, your financial needs, investment goals, risk tolerance, and investment objectives. We will monitor the sub-adviser(s)' performance to ensure its management and investment style remains aligned with your investment goals and objectives. The sub-adviser(s) will actively manage your portfolio and will assume discretionary investment authority over your account. We will assume discretionary authority to hire and fire sub-adviser(s) and/or reallocate your assets to other sub-adviser(s) where we deem such action appropriate. Solicitor arrangement We offer a solicitor arrangement with Howard Capital (HCM) for the following services:
• Self-Directed Brokerage Accounts linked to a client’s 401(k) account.
• Accounts that fall under a special service offered through HCM called Private Wealth Services (PWS). These accounts are charged a higher fee by HCM for additional services they will be providing to these clients. Financial Planning Consulting We offer consulting services which primarily involves advising clients on specific financial-related topics. The topics we address may include, but are not limited to, risk assessment/management, investment planning, financial organization, or financial decision making/negotiation. Publication of periodicals or newsletters We currently have developed and release a monthly market commentary to clients called Lifestyle Asst Management Market Commentary. Types of Investments We primarily offer advice on equity securities, warrants, corporate debt securities, commercial paper, certificates of deposit, municipal securities, investment company securities, US Government securities, options contracts on securities and commodities, futures contracts on securities and commodities, and interests in partnerships investing in real estate and oil and gas. Additionally, we may advise you on any type of investment that we deem appropriate based on your stated goals and objectives. We may also provide advice on any type of investment held in your portfolio at the inception of our advisory relationship. You may request that we refrain from investing in particular securities or certain types of securities. You must provide these restrictions to our firm in writing. Assets Under Management As of December 31, 2023, our discretionary assets under management were $381,974,097 and non-discretion were $0. We also provide investment advice on an additional $6,029,257 of assets that we do not manage on a continuous basis.