About Our Advisory Business Lakeside Advisors, Inc. (Lakeside, us, we, our) is an independent investment management firm registered with the SEC. Lakeside Advisors, Inc., formerly Financial Planning Resources, Inc., was founded by Robert E. Frey, CFP® in 1984 to assist individuals with all aspects of financial planning. Since 1984 we have focused on financial planning, however, our primary business is portfolio management for Clients (Clients, you, your). We serve individual investors and we also manage assets for corporations, trusts and retirement plans. Lakeside Advisors, Inc. is 100% owned by Robert E. Frey, CFP®, President and Chief Compliance Officer. We have one office in Seattle, Washington. Additional investment professionals include: Kristi A. Mandt, CFP®, AIF®, Vice President Miki Okamoto-Swanson, CFA®, Vice President Investment Advisory Services A. Discretionary Portfolio Management We manage each investment portfolio based on the client’s unique and specific needs. Our initial meeting with you starts by understanding who you are in a financial sense. Our service includes one meeting per year. Topics addressed, among others, include:
• A review of your investment accounts
• Retirement plans (401k plan accounts or IRAs, etc.)
• Insurance contracts
• Tax related matters
• Estate documents
• Personal and family obligations
• Family and college plans The result of this fact finding is to determine:
• Your financial position
• Financial goals and objectives for today and tomorrow 5 | P a g e
• Liquidity needs including cash flow demands
• Risk tolerance
• Investment constraints / restrictions This information is used to construct a portfolio(s) that represent a blend of asset classes (stocks, bonds, alternatives, cash) for your risk and return characteristics. If you have specific investment restrictions, these will be documented in the written agreement we have with you. We reserve the right not open an account or close an account if the investment restrictions are so extensive that in our sole determination we cannot properly invest or diversify your portfolio(s). You update your investment restrictions in writing. Investment restrictions are not implemented until accepted by Lakeside. Lakeside and our associated person create no specific proprietary products or services which are recommended to clients. We provide investment advice on the following types of securities or investment products:
• Exchange-listed securities
• Securities traded over-the-counter
• Foreign securities (via American Depository Receipts – traded on an exchange)
• Corporate debt securities (other than commercial paper)
• Commercial paper
• Certificates of deposit
• Municipal securities
• Variable life insurance
• Variable annuities
• Mutual fund shares
• United States government securities
• Options contracts on securities
• Interests in partnerships investing in real estate
• Interests in partnerships investing in oil and gas interests
• Interests in partnerships investing in other forms of assets such as equipment leasing and Community Access Television (CATV) Mutual funds or Exchange Traded Funds (ETFs) are typically used when they provide diversified access across a sector where we desire exposure but lack specific expertise (for example, investing in offshore securities, including foreign equities, high yield bonds or alternative strategies). 6 | P a g e Class Action Claims We work with a third-party service provider, Chicago Clearing Corporation (CCC), which provides class action litigation monitoring and securities claim filing services. CCC will complete claims for all of our clients who have accounts custodied at Pershing, LLC (Pershing) and do not opt out of such a service. You may change your opt-out election at any time by notifying us in writing. In return for this service, CCC receives 15% of any settlement collected. In an event that payment from the SEC Fair Fund claims do not allow CCC to deduct its fee from the distribution payment, Lakeside elected that CCC deduct the fee for any SEC fair fund distributions from other non-SEC fair fund distributions. Lakeside does not receive any fees or remuneration in connection with this service nor does it receive any fees from the third‐party provider(s). Because we are providing this service through CCC, we no longer monitor class action

suits or process claim forms on your behalf (whether or not you participate in the service CCC provides). We are not responsible or liable for: (a) any assistance we provide to CCC concerning monitoring or processing class action claims or (b) any CCC act in monitoring or processing such claims. IRA Rollover Lakeside does NOT recommend to our clients that they roll-over their employer sponsored retirement plan assets, such as 401k plan accounts, to an IRA that we would manage for that client. We rely on the client to make the rollover determination independent of Lakeside. If the determination is made by the client, we will provide information necessary for the client to facilitate movement of those assets from the client’s employer sponsored retirement plan (current or prior employer) to an IRA we manage. B. Non-Discretionary Portfolio Services We provide non-discretionary investment advice to ERISA Plan Sponsors, the Plan and Plan Participants. Advice to ERISA plans is generally provided under ERISA Section 3(21) and include the following fiduciary services:
• Provide non-discretionary investment advice to Trustees of the plan about investment alternatives available for the plan in accordance with the Plan’s investment policies and objectives. Trustees shall have the final decision-making authority regarding the initial selection, retention and removal of investment options.
• Assist Trustees with the selection of a broad range of investment options.
• Assist in the development of an Investment Policy Statement (IPS). The IPS 7 | P a g e establishes the investment policies and objectives for the Plan and shall set forth the asset classes and investment categories to be offered under the Plan, as well as criteria and standards for selecting and monitoring investments. Trustees shall have the ultimate responsibility and authority to establish such policies and objectives and to adopt the IPS.
• Prepare periodic investment advisory reports that document consistency of fund management and performance to the guidelines set forth in the IPS and make recommendations to maintain or remove and replace investment options.
• Meet with Trustees on a periodic basis to discuss reports and recommendations.
• Provide investment advice to Trustees with respect to the selection of a qualified default investment alternative (QDIA) for participants who fail to make an investment election. Trustees retain the sole responsibility to provide all notices to participants required under ERISA section 404(c)(5), if applicable. Non-discretionary portfolio services advice provided to ERISA Plan Sponsors and Trustees are charged only a fee. We do not receive any additional fees or compensation directly or indirectly. C. Financial Planning Services Financial planning services involve our review and recommendations, including consultations related to your:
• Federal income tax
• Retirement planning / pension plans
• Estate planning
• Risk management, i.e., insurance policies (life, medical, disability and casualty)
• College education planning
• Savings
• Any issue related to your financial health or well-being If you purchase Financial Planning Services, you will receive a written report. This report would provide an analysis of your current financial position and personal facts with the recommendations designed to assist you in achieving your stated financial goals and objectives. D. Financial Consulting Services Consulting services are limited financial planning services which are topical in nature. Clients hire us to provide consulting services on some or all of the following topics over time: 8 | P a g e
• Financial goals and objectives
• Current financial position
• Retirement planning
• Real estate investments
• Insurance policies (life, medical, disability and casualty coverage)
• Federal income tax planning
• Estate plans
• Annual updates of your balance sheet
• Updates of capital accumulation programs (as recommended in your financial plan)
• Purchase or sale of a house
• Rental property
• Purchase or lease of a vehicle
• College education planning Consulting services are oriented towards your long-term goals and objectives. Assets Under Management (as of January 31, 2024) Type Assets Under Management Discretionary $364,726,829 Non-Discretionary $ 10,924,024 Total $375,650,853