Palisades Hudson Asset Management, L.P. (“Palisades Hudson”) provides the following services to its clients: ●Investment Advisory Services to Individuals, Trusts, and Entities Palisades Hudson provides three levels of investment advisory services: ●Performance Reporting ▪ Monthly reporting of assets under management ▪ All investment actions are performed at the client’s direction ●Active Management ▪ Monthly reporting of assets under management ▪ Palisades Hudson performs research, recommends investments, and executes discretionary transactions when authorized ●Trust Management ▪ Monthly reporting of assets under management ▪ Palisades Hudson performs research and executes transactions ▪ One of Palisades Hudson’s principals or officers acts in a trustee role Palisades Hudson’s investment philosophy focuses on asset allocation and long-term, disciplined investing. Palisades Hudson creates an asset allocation for each active management and trust management client that is consistent with the client’s risk tolerance and short- and long-term planning objectives. We seek to balance growth and security by building diversified portfolios comprised of cash equivalents, fixed-income securities, alternative investments, and U.S. large-cap, U.S. small-cap, international, natural resources, and real estate equities. We attempt to manage risk by investing in carefully researched securities, with analysts monitoring each asset class, as well as each security. Clients may impose restrictions on investing in certain securities or types of securities.
Palisades Hudson primarily uses open-end mutual funds and exchange-traded funds to implement the investment strategies developed for its clients. We avoid short-term trading and market timing strategies, which we believe are counterproductive. We typically do not pick individual stocks or bonds.
However, we will evaluate existing positions that clients place under the firm’s management to determine whether or not these securities are appropriate given the client’s asset allocation and investment

strategy. Each investment is selected in accordance with the client’s target asset allocation.
●Investment Advisory Services to Retirement Plans Palisades Hudson offers investment advisory services to plan sponsors of employer-provided retirement plans. These services include: ●Selecting appropriate investment options ●Monitoring the performance of investment options ●Conducting presentations for plan participants ●Providing general investment advice to plan participants ●Accepting co-fiduciary responsibility as an ERISA §3(21) Fiduciary ●Fund Management Palisades Hudson acts as manager for three private equity funds (“the Funds”): ●PH Investors Riverstone Energy II, LLC ●PH Investors THL VII, LLC ●PH Investors TPG Asia VII, LLC The Funds provide access for qualified purchasers (as defined in the Investment Company Act of 1940) to private equity managers and investments. Palisades Hudson manages and controls the business affairs of the Funds. Members receive annual audited financial statements and the annual tax information necessary to complete their tax returns.
●Consulting Palisades Hudson consults on asset allocation and portfolio strategies. We provide consultation services either in person or in writing. Advice that we give via consultation is consistent with the investment philosophy we employ when providing investment advisory services to individuals, trusts, and entities.
Additional Information – Advisory Business Before engaging Palisades Hudson to provide any of the previously mentioned services, clients are required to enter into a written agreement. This document discusses the terms and conditions of the engagement.
Larry M. Elkin founded Palisades Hudson in November, 1997. The principal owners of Palisades Hudson are the Larry M. Elkin Living Trust and Palisades Hudson Asset Management, Inc., which are both owned by Larry M. Elkin.
As of December 31, 2023, Palisades Hudson had the following assets under management: ●Discretionary Assets$683,618,481 ●Non-discretionary Assets$804,162,441