BKIC is a fee-based SEC-registered investment adviser (SEC file number 801-61838). Our principal place of business is located in Pittsburgh, Pennsylvania. Our Firm has been in business since 2002. The Firm is equally owned by Darrin Duda, Principal, and Patrick Fisher, Principal. Management of the Firm continues to be overseen by the Firm’s current Officers and Principals. We do not have any discretionary or non-discretionary assets under management. As of December 31, 2023, we consulted on approximately $8,027,331,152 of client assets. Investment Consulting Services Our Firm is not in the business of managing client assets. Instead, we provide consulting advice to clients, which they can (a) decline to implement or (b) accept and implement on their own or with the assistance of their dedicated portfolio manager(s). We provide an array of consulting services separately or in combination. Clients have the choice to use any or all of these services. Investment Policy Statement (“IPS”) Development or Review We will meet with the client (in person and/or over the telephone) to determine or review the client’s investment needs and goals. For clients needing an IPS, we will prepare a written IPS stating their needs and goals and encompassing a policy under which these goals are to be achieved. The IPS will also list the criteria for the selection of investment vehicles and the procedures and timing interval for monitoring investment performance. For clients with an existing IPS, we will provide a written review which when appropriate, will include recommendations for modification. IPS reviews typically include, among other things, an analysis of the:
• basis for asset mix and rebalancing limits;
• types and styles of investment managers and/or funds retained;
• guidelines for investment managers;
• control procedures for investment managers and consultants;
• spending policy;
• liability projections versus asset levels;
• projected returns; and
• procedures for controlling and accounting for investment results, including performance measurement standards. Selection of Investment Vehicles We will review various investments, service providers and strategies to determine which ones are appropriate within, or to implement in, the client’s IPS. The nature and selection of investments and service providers to be retained will be determined by the client, based on the IPS. Within the overall asset allocation strategy, we will review the following elements:
• client specific goals and objectives and the time horizon for which to achieve such;
• the relevance of capital market inputs used;
• inputs regarding return, risk, asset class preferences, and tax status (if applicable); and
• the relevancy of the expected risk/return to a client’s objectives. Monitoring of Investment Procedures and Performance We monitor client accounts based on the procedures and timing intervals delineated in the IPS. Although we will not be involved in the purchase or sale of the investments, we will monitor the client's portfolio and make recommendations to the client as market factors and the client's needs dictate. The frequency of reviews will be determined by the client’s needs and the IPS. Typically, we provide quarterly investment performance reports and are available to meet with clients in person or remotely on at least a quarterly basis to review performance and adherence to the IPS. We are available to meet more frequently or as needed. Investment Adviser/Manager Search and Monitoring One of our core services is performing investment adviser searches on behalf of a client. These searches may be for an investment manager

for a single asset class, or they may be for a manager of the total portfolio (an outsourced chief investment officer, or OCIO, arrangement whereby one investment adviser has discretion over the total portfolio). Based on a client’s individual circumstances and needs, we will suggest an independent adviser(s) (or vendor or custodian) which we believe is appropriate for that client. Factors considered in making this determination include not only investment performance, but also account size, assets under management, management approach, quality of investment team, risk tolerance, the opinion of each client and the investment philosophy of the independent adviser, among others. Clients should refer to the independent adviser’s disclosure document for a full description of the services offered. We meet with our clients on a regular basis, or as determined by the client, to review the account and the performance of the selected third-party investment adviser(s) (or vendor or custodian). If we believe that a particular independent adviser (or vendor or custodian) is performing inadequately, or if we believe that a different manager is more suitable for a client’s particular needs, then we will suggest that the client consider a different provider. For investment advisers, we will assist the client in selecting a new adviser and then monitor that adviser’s performance. However, any move to a new adviser (or vendor or custodian) is solely at the discretion of the client. Other Consulting Clients can also receive investment advice on a more limited basis. This includes advice on only an isolated area(s) of concern, such as a defined contribution vendor search, custodian search, investment policy statement review or development, asset allocation or any other specific topic. We may also provide specific consultation regarding investment and financial concerns of the client. We also provide one-time reviews of the client’s:
• procedures used to select managers and/or funds;
• appropriateness of investment managers and/or funds to the IPS allocation objectives; and
• current performance of managers and/or funds against appropriate peer group and relevant industry benchmarks. These reviews may be of a single asset class or they may involve an OCIO arrangement, whereby one investment adviser has discretion over the total portfolio. Additionally, we generally provide analysis of the expenses associated with a client’s portfolio, including use of 12b-1 fees and other arrangements. Our services also include an analysis of a manager’s portfolio composition and relevance of performance reports and custodial reporting, securities lending activities, conflicts of interest and any applicable socially responsible investment objectives. Services in General Our consulting recommendations are not limited to any specific product or service offered by a broker dealer, insurance company or other third-party financial services provider and will primarily include advice regarding the following:
• separate accounts of investment managers;
• mutual funds;
• exchange-traded funds (ETFs); and/or
• collective investment funds (sometimes referred to as common trust funds and/or commingled funds). In addition, in certain situations where appropriate for clients, we provide investment consulting advice on limited partnerships, including hedge funds, private equity, and venture capital, as well as master limited partnerships (MLPs). We tailor all of our recommendations to the individual needs of each client. All such recommendations are based on information gathered through client and/or committee meetings, electronic communications, and telephone and in-person discussions.