Innovest Portfolio Solutions, LLC (“Innovest”) is an independent, fee-only provider of investment consulting services to retirement plans, foundations and endowments, nonprofit organizations and high net worth individuals and families. Innovest is an investment adviser registered with the U. S. Securities and Exchange Commission. It is incorporated in the state of Colorado. Innovest was founded on July 1, 1996. Innovest is headquartered in Denver and has satellite offices in Arizona, California and Florida. Innovest Holdings, Inc. owns 89% of Innovest. Richard M. Todd owns 51% of Innovest Holdings. Wendy Dominguez owns 24% of Innovest Holdings. Innovest Holdings is 100% employee owned. Investment Consulting Services Innovest provides investment consulting and reporting services to approximately 420 clients with assets totaling approximately $45 billion as of December 31, 2023. Innovest advises the vast majority of its clients on a non-discretionary basis. Clients may delegate authority to Innovest to take specific investment related actions on their behalf. See “Item 16 – Investment Discretion” in this brochure. Our advice is specific to each client’s goals, time horizon, risk tolerance and investment objectives. As the coordinator of each client’s investment program, Innovest can be the single contact in the ongoing management of the client’s investments. Investment consulting services provided by Innovest may include:
• Comprehensive investment program review and detailed fee evaluation (provided at inception of the consulting relationship and as needed)
• Custody evaluation and recommendation (as needed)
• Investment manager evaluation, recommendation and/or selection (as needed)
• Investment policy development and maintenance (annually)
• Asset allocation and modeling (annually)
• Performance measurement, attribution, and reporting (quarterly)
• Ongoing monitoring (daily)
• Spending policy evaluation (annually and as needed)
• Portfolio accounting (daily and monthly)
• Alternative investment evaluation and selection (as needed)
• Technology assistance (as needed)
• Fiduciary and Trustee education and workshops (as needed)

• Retirement plan vendor selection (as needed)
• Cash flow planning for individuals and families (as needed)
• Retirement Plan Design (as needed) Clients may impose restrictions on investment in certain securities or types of securities. Friends and Family Investment Program In contrast to the investment consulting services described above, Innovest also provides the Friends and Family Investment Program. Friends and Family is available to individuals, IRAs and revocable living trusts. In this program, a client completes an Investor Profile Questionnaire on the Charles Schwab & Company (“Schwab”) website. The questionnaire results generate a recommended portfolio for the client. Innovest reviews the recommendation and then selects a specific investment portfolio from several model portfolios that Innovest has constructed and manages. The model portfolios are specifically designed for either taxable or tax-exempt portfolios. Within the portfolios for taxable or tax-exempt accounts, there are five portfolio models available with risk tolerances ranging from conservative to all equity. The model investment portfolios invest in mutual funds. A Friends and Family client’s portfolio is held in a brokerage account opened by the client at Schwab. Innovest uses Schwab’s Institutional Intelligent Portfolio® Platform (“Platform”). The Platform includes the Investor Profile Questionnaire. The Platform also includes an automated investment engine through which Innovest manages the client’s portfolio on an ongoing basis, including automatic rebalancing and tax loss harvesting (if the client is eligible and elects). Innovest is the client’s investment adviser and primary point of contact with respect to the Friends and Family Investment Program. Innovest is solely responsible, and Schwab is not responsible, for determining the appropriateness of the investment program for the client, for selecting a suitable investment strategy and portfolio for the client, and for managing the portfolio on an ongoing basis. Every Friends and Family client will have an investment policy statement and will receive a quarterly performance report from Innovest, in addition to communications directly from Schwab.