Stack Financial Management, Inc. (“SFM” or the “Firm”) is a corporation that was formed in the State of Montana on January 19, 1994. SFM was registered with the SEC as an Investment Adviser Firm in February 1994. SFM is principally owned by James Stack, and Mr. Stack is the Firm’s founder and President.
Investment Advisory Services Stack Financial Management offers investment advisory services on a fee-only basis to its clients, which include individuals, pension and profit-sharing plans, business entities, trusts, estates, charitable organizations, etc. SFM may also serve as sub-adviser to clients of another registered adviser.
Investment advisory services offered by SFM primarily focus on the management of equity (stock-based) portfolios, with an analytical emphasis on adjusting allocation based on the measured or perceived level of risk in the stock market, as described in Item 8 below.
Stack Financial Management provides investment advisory services specific to the needs of each client, but within management guidelines and objectives established by SFM, which shall include, but not be limited to, Capital Appreciation Portfolios and Value & Dividend Portfolios. Individual clients may select an objective for each account based on his/her needs or preference. Prior to providing investment advisory services, an investment adviser representative will ascertain each client’s investment objective(s). Thereafter, SFM shall allocate investment assets consistent with the designated investment objective(s). The client may, at any time, impose reasonable restrictions, in writing, on our services or the types of securities to be held in their

account.
Although SFM does not hold itself out as a financial planner, we will provide limited financial planning consulting services, the scope of which will depend upon the specific needs and requests of the client. In the event that a client’s situation changes, it is the client’s obligation to advise SFM that he/she desires follow-up planning/consulting services. See Limitations of Financial Planning and Non-Investment Consulting/Implementation Services below.
Wrap Fee Programs Stack Financial Management does not participate in any wrap fee programs. Assets Under Management As of December 31, 2023, Stack Financial Management had $1,797,664,736 in assets under management on a discretionary basis.
Other Business Stack Financial Management’s Principal, James Stack, is also the founder and owner of InvesTech Research, LLC (“InvesTech”), which conducts stock market research and publishes a general circulation investment newsletter and website known as “InvesTech Research.” James and Lisa Stack (Mr. Stack’s wife and SFM Managing Partner) are co-owners of Last Best Place Investments, LLC, which is the owner of an office building that is leased by Stack Financial Management.
Zachary Jonson, Joseph Laszewski, and Jeanine Morreim (SFM employees and shareholders) are members of SFM Legacy, LLC, which was established to ensure the internal succession of Stack Financial Management.
Miscellaneous Limitations of Financial Planning and Non-Investment Consulting/Implementation Services To the extent requested by the client, SFM will generally provide (inclusive of its advisory fee set forth at