This Disclosure document is being offered to you by Value Financial Advisers, Inc. (“VFA” 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. Value Financial Advisers, Inc. is a Colorado corporation continuously operating since February 18, 1983. The firm’s original name was Omnivest Financial Services, Inc. (OFS). In 1990 the corporation merged with Baron Investments Ltd. and continued to use the name OFS. OFS registered with the SEC as an Investment Advisor December 28, 1990 and has maintained registration and provided advisory services since. The corporation changed its name to Value Financial Advisers, Inc. effective January 1, 2005. Phillip H. Connors is the sole stockholder of VFA. Phillip Joined Value Financial Advisers in 2011, and has been continuously employed by the firm since. 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 VFA execute an Investment Management Agreement. Just as a prospective client may decide we are not the right adviser for them, we reserve the right to decline to work with any prospective client for any reason. This would most likely occur in cases we feel our services are not a good ‘fit’ for a particular client’s situation. INVESTMENT AND WEALTH MANAGEMENT AND SUPERVISION SERVICES We manage advisory accounts on a discretionary and non-discretionary basis. For discretionary accounts, 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. We may accept accounts with certain restrictions, if circumstances warrant. We primarily allocate client assets among various stocks, bonds, Exchange Traded Funds (“ETFs”), Exchange Traded Notes (“ETNs”), no-load or load-waived mutual funds, options, cash and money market funds in accordance with their stated investment objectives. All of which are considered asset allocation categories 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 policy and plan. It is the client’s obligation to notify us immediately if circumstances have changed with respect to their goals, health, employment or other material criteria. Once we have determined the types of investments to be included in your portfolio and allocated them, we will provide ongoing investment review and management services. This approach requires us to periodically review your portfolio. With our discretionary relationship, 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, using our investment process. With our non-discretionary relationships, we must obtain the client’s approval before buying or selling in their account. These types of accounts represent a small part of our advisory work. For a number of reasons, in general, we discourage non-discretionary accounts. The process of contacting clients to obtain JANUARY 2024 | Page | 5 approval often causes delays that can interfere with the timing of transactions, so clients may pay higher prices to buy or receive lower prices to sell. Additionally, their transactions may not be aggregated with other clients and lose any quantity pricing advantage. 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 securities. We reserve the right to decline said request for any reason. While we are sensitive to our clients’ needs and concerns, as a practical matter it is hard for us to be efficient if there are too many such restrictions. Such a decline on our part may result in terminating an advisory relationship with an existing or prospective client. In all cases, you have a direct and beneficial interest in your securities, rather than an undivided interest in a pool of securities. For most accounts we have limited authority to direct the Custodian to deduct our investment advisory fees from your accounts, but only with the appropriate written authorization from you. Occasionally clients request that we hold or purchase specific securities for them that we don’t buy or sell for others. We reserve the right to decline said request for any reason. In these cases, clients must understand the difficulty we face trying to be knowledgeable about these unique investments and the risk that some material information may be overlooked and result in a negative result in their account. As above, such a decline on our part may result in terminating an advisory relationship with a prospective or existing client.

You are advised and expected to understand that our past performance is not a guarantee of future results. Certain market and economic risks exist that can adversely affect an account’s performance. This could result in capital losses in your account. DISCLOSURE REGARDING ROLLOVER RECOMMENDATIONS 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. 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): (i) leave the money in the former employer’s plan, if permitted, (ii) roll over the assets to the new employer’s plan, if one is available and rollovers are permitted, (iii) rollover to an Individual Retirement Account (“IRA”), or (iv) 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 JANUARY 2024 | Page | 6 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. Our Firm’s Chief Compliance Officer remains available to address any questions that a client or prospective client has regarding the oversight. FINANCIAL PLANNING We also offer general financial planning and related financial advice for a fee. Note: when discussing these types of matters with clients whose money we manage, we usually do not charge in addition to our management fee. Through the financial planning process, we strive 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, our team will offer financial planning ideas and strategies to address the client’s all-in financial picture, including estate, income tax, charitable, cash flow, wealth transfer, and family legacy objectives. With permission our team can consult with our client’s other advisors (CPAs, Enrolled Agents, Estate Attorneys, Insurance Brokers, 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 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, expenses, risk, and liquidity factors for each goal. This includes IRA and qualified plans, taxable, and trust accounts that require special attention  Design of a risk management plan including risk tolerance, risk avoidance, mitigation, and transfer, including liquidity as well as various insurance and possible company benefits; and  Crafting and implementation of, in conjunction with your estate and/or corporate attorneys as tax advisor, an estate plan to provide for you and/or your heirs in the event of an incapacity or death A written evaluation of each client's initial situation or Financial Plan is provided to the client. An annual review can be provided by the Advisor, if agreed upon by the Client and Advisor per the Agreement. WRAP FEE PROGRAM We do not participate in a Wrap Fee Program. ASSETS As of December 31, 2023, we have a total of $105,269,801 assets under our management. We have $ 98,036,666 of discretionary assets under management and $7,223,135 of non-discretionary assets under management. JANUARY 2024 | Page | 7