Firm Description BERKELEY, INC. (the Firm) was founded in 1996. BERKELEY, INC. provides personalized, confidential financial planning and investment management to individuals, pension and profit-sharing plans, trusts, estates, charitable organizations and small businesses. Advice is provided through consultation with the client and may include: determination of financial objectives, identification of financial problems, cash flow management, tax planning, insurance review, investment management, education funding, retirement planning, and estate planning. BERKELEY, INC. is a fee-only financial planning and investment management firm. The firm does not sell annuities, insurance, stocks, bonds, mutual funds, limited partnerships, or other commissioned products. The firm is not affiliated with entities that sell financial products or securities. No commissions in any form or finder’s fees are accepted. BERKELEY, INC. does not act as a custodian of client assets. The client always maintains asset control. BERKELEY, INC. places trades for clients under a limited power of attorney. A written evaluation of each client's initial situation is provided to the client, often in the form of a net worth statement or list of investable assets. Periodic reviews are also communicated to provide reminders of the specific courses of action that need to be taken. More frequent reviews occur but are not necessarily communicated to the client unless immediate changes are recommended. Other professionals (e.g., lawyers, accountants, insurance agents, etc.) are engaged directly by the client on an as-needed basis. Conflicts of interest will be disclosed to the client in the unlikely event they should occur. The initial meeting, which may be in person or by telephone (208-853-6980), is free of charge and is considered an exploratory interview to determine the extent to which financial planning and investment management may be beneficial to the client. Principal Owners Michael Ling is a 50% stockholder. P. Stephen White is a 50% stockholder. Types of Advisory Services BERKELEY, INC. provides investment supervisory services, also known as asset management services; manages investment advisory accounts not involving investment supervisory services; furnishes investment advice through consultations; issues special reports about securities; and issues, charts, graphs, formulas, or other devices which clients may use to evaluate securities. On more than an occasional basis, the Firm furnishes advice to clients in areas not involving securities, such as financial planning matters, taxation issues, and trust services that often include estate planning. As of January 1, 2023 BERKELEY, INC. managed approximately $335,000,000 in assets for approximately 202 clients. All of the $335,000,000 is managed on a discretionary basis. Tailored Relationships The goals and objectives for each client are documented in the Firm’s client relationship management system and financial planning software. Agreements may not be assigned without client consent. Types of Agreements The following agreements define the typical client relationships. Financial Planning Agreement A financial plan is designed to help the client with all aspects of financial planning without ongoing investment management after the financial plan is completed. The financial plan may include, but is not limited to: a net worth statement; a cash flow statement; a review of investment accounts, including reviewing asset allocation and providing repositioning recommendations; strategic tax planning; a review of retirement accounts and plans including recommendations; a review of insurance policies and recommendations for changes, if necessary; one or more retirement scenarios; estate planning review and recommendations; and education planning with funding recommendations. Detailed investment advice and specific recommendations are provided as part of a financial plan. Implementation of the recommendations is at the discretion of the client. The fee for a financial plan is predicated upon the facts known at the start of the engagement. The financial planning fee range is usually $2,000-$5,000 and is negotiable. In the event that the client’s scope of service

is substantially different than disclosed at the initial meeting, a revised fee will be provided for mutual agreement. The client must approve the change of scope in advance of the additional work being performed. After delivery of a financial plan, future face-to-face meetings may be scheduled as necessary for up to one month. Follow-on implementation work is billed separately at the rate of up to $325 per hour. Investment Advisory Agreement Most clients choose to have BERKELEY, INC. manage their assets in order to obtain ongoing in-depth advice and life planning. Many aspects of the client’s financial affairs are reviewed, often including those of their children. Realistic and measurable goals are set and objectives to reach those goals are defined. As goals and objectives change over time, additional recommendations are made. An Investment Advisory Agreement is provided to the client in writing prior to the start of the relationship. This agreement includes a basic expectation of the design of the client’s portfolio(s). The annual Investment Advisory Agreement fee is based on a percentage of the investable assets according to the following schedule: 0.90% on the first $500,000; 0.75% on the next $500,000 (from $500,001 to $1,000,000); 0.60% on the next $1,000,000 (from $1,000,001 to $2,000,000);& 0.45% on the assets above $2,000,000. The minimum annual fee is $2,500 and may be negotiable. Current client relationships may exist where the fees are higher or lower than the fee schedule above. Although the Investment Advisory Agreement is an ongoing agreement and constant adjustments are required, the length of service to the client is at the client’s discretion. The client or the investment manager may terminate an Agreement by written notice to the other party. At termination, fees will be billed on a pro rata basis for the portion of the quarter completed. The portfolio value at the completion of the prior full billing quarter is used as the basis for the fee computation, adjusted for the number of days during the billing quarter prior to termination. Hourly Planning Engagements BERKELEY, INC. provides hourly planning services for clients who need advice on a limited scope of work. The hourly rate for limited scope engagements is up to $325. Asset Management Assets are invested primarily in no-load or low-load mutual funds and exchange-traded funds, usually through custodians and discount brokers. Mutual fund companies charge each fund shareholder an investment management fee that is disclosed in the fund prospectus. Custodians and discount brokerages may charge a transaction fee for the purchase of some funds. Stocks and bonds may be purchased or sold through a brokerage account when appropriate. The brokerage firm may charge a fee for stock and bond trades. BERKELEY, INC. does not receive any compensation, in any form, from brokerage companies. Accredited investors have the option to invest in a few private placement programs. BERKELEY, INC. does not have any financial arrangement with these firms. The fees charged to the client are assessed like any other investment when calculating the total fee as described in the “Investment Advisory Agreement.” Investments may also include equities (stocks), warrants, corporate debt securities, commercial paper, certificates of deposit, municipal securities, investment company securities (variable life insurance, variable annuities, and mutual funds shares), U. S. government securities, options contracts, futures contracts, and interests in partnerships. Initial public offerings (IPOs) are not available through BERKELEY, INC. Termination of Agreement A Client may terminate any of the aforementioned agreements at any time by notifying BERKELEY, INC. in writing and paying the rate for the time spent on the investment advisory engagement prior to notification of termination. If the client made an advance payment, BERKELEY, INC. will refund any unearned portion of the advance payment within 30 days. BERKELEY, INC. may terminate any of the aforementioned agreements at any time by notifying the client in writing. If the client made an advance payment, BERKELEY, INC. will refund any unearned portion of the advance payment within 30 days.