Financial Management Advisors, Inc. was formed in November 2001 and is a corporation organized in the State of Tennessee. FMA’s office is located in Tullahoma, TN and is principally owned by James D. Bratcher, Jr. FMA provides “fee for service” financial planning, retirement planning, estate planning, educational planning, investment planning and analysis, business planning, and investment management of assets. Areas of investment management include Moderate Growth Program, Conservative Growth Program, Aggressive Growth Program, Long Only Strategy, Dynamic Strategy, Ultra Dynamic Strategy, Variable Annuity Management, and Brokerage Services. Engagements are limited in scope based on the client’s unique circumstances. As of December 31st 2023, FMA manages approximately $113.2 million in assets. Members of FMA are also registered representatives of a broker/dealer as well as Independent Insurance Agents, who have the ability to offer multiple insurance products from multiple insurance carriers. Securities and Insurance products can be sold by members of FMA for commission compensation. Insurance products such as Life, Variable Annuities, Variable Universal Life, Long Term Care and Fixed Annuities can also be sold by FMA through multiple insurance carriers. The advisor gathers financial data including the client’s goals, circumstances, financial condition and risk tolerance. The advisor then prepares and delivers the analysis and recommendations to the client. Recommendations may be in a written/electronic format, or in the form of verbal (in-person or phone) discussion, or both. Clients engage FMA in management programs on a “fee for services rendered” basis. The services a client receives are dependent upon the individual needs and requests by the client, but often times the services rendered are continuous. The investment management services provided

by FMA often involve investment modeling where trades are conducted with the use of Advisor discretion. The advisor will perform “active” management in a client’s account in accordance with pre-described/defined goals and risk tolerances provided by the client. If discretionary authority has been given to FMA or one of the Investment Advisor Representatives (IARs) of FMA, FMA will “take action” without first receiving approval from the client. The “action” is limited to purchases and/or sells of securities (Stocks/Bonds/Mutual Funds/ETFs, Certificate of Deposits and variable annuity sub-accounts), but does not allow the Advisor to move funds between accounts or transfer assets from the account. All transactions occur at a qualified custodian that produces statements. These statements may be produced monthly, but must be produced at least quarterly and contain the basic account value and holdings of the managed accounts along with listing the activity that occurs within the account(s) being managed by FMA. The statement provided by the custodian will also contain the advisory fee charged by FMA Fees charged by FMA are separate from the fees charged by mutual funds and other investment companies. Therefore, FMA recommends consulting the mutual fund prospectus for more information about their fees. FMA also promotes long term buy and hold services that do not involve active management of client accounts. Clients may choose a service that offers asset allocation services that are managed by FMA that make less active transactions and is designed to keep expenses low, while offering market related rates of return. If services are selected that do not entail discretionary authority, clients are free to implement all, some, or none of the Advisor’s recommendations and the full responsibility of implementation rests with the client.