Firm Description Carson Advisory Group is the successor firm to directly related financial services firms dating to 1959. The original registration with the Securities and Exchange Commission was approximately two decades later as Carson & Associates. Carson Advisory Group provides personalized, confidential financial planning and investment management to individuals, pension and profit-sharing plans, trusts, estates, charitable organizations, foundations, municipalities, and corporations or small business entities. Advice is provided through consultation with the client and can include determination of financial objectives, identification of financial concerns, cash flow management, tax planning, insurance review, investment management, education funding, retirement planning, and estate planning. Investment advice, including asset allocation, is an integral part of financial planning. The initial meeting, which may be by telephone, 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. If the client wishes to proceed and engage in our services, the Investment Advisor Representative (“IAR”) will have the client sign our contract and obtain the client’s necessary financial and personal information. All of this information, including the client’s goals, risk tolerance, and current situation form the direction for asset allocation. Suggested portfolio changes are communicated as needed and based upon client needs. For the majority of assets under management, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC, (“Raymond James”) acts as custodian. Other professionals (e.g., lawyers, accountants, insurance agents, etc.) are engaged directly by the client on an as-needed basis. Principal Owners Robert H. Carson, Jr. 75.10% stockholder; Richard J. Chester, Jr. 18.55% stockholder, and Kevin Wilson 6.35% stockholder. Types of Advisory Services Carson Advisory Group provides investment and asset management services, and on occasion, issues special reports about securities useful on issues specific to each client. Carson Advisory Group furnishes advice to clients on matters related to their assets, such as financial and retirement planning, topical taxation issues (including required minimum distributions from qualified plans)1, potential trust needs, transitioning wealth, charitable gifting (including donor advised accounts), college savings opportunities, and general family financial events. 1 We do not offer professional tax advice. To determine your individual tax situation, please consult a professional tax advisor. As of December 31, 2023, Carson Advisory Group had the following in assets under management: Discretionary Assets ......................................................$611,918,468 Non-Discretionary Assets...............................................$83,002,973 Assets Under Advisement2.............................................$52,431,626 Total Assets Managed is $747,353,067 Carson Advisory Group owners, employees, and related personnel have a brokerage relationship with Raymond James Financial Services. Assets serviced in that capacity, when acting as registered representatives of RJFS, totaled approximately $213,846,132 on 12-31- 23. The total assets serviced for both our fee based and brokerage relationships was approximately $961,199,199 on 12-31-23. Tailored Relationships Advice is tailored to the individual client based on their needs. Goals and objectives for each client are discussed, documented, and reviewed periodically. Clients may impose reasonable restrictions on the investments made in their accounts. Reasonable restrictions include the designation of particular securities or types of securities that should not be purchased in their account (i.e., Company XYZ or companies involved in a particular industry, etc.), or should be sold if held in the account. However, in some cases where investment discretion has been delegated to Carson Advisory Group, or a third-party manager, it may be determined that the implementation of such a restriction is impractical. In the event such a determination is made, you will be notified promptly. Please note that investment guidelines and restrictions must be provided to Carson Advisory Group in writing. Types of Services The following arrangements define the typical client relationships: Advisory Service Most clients choose to have Carson Advisory Group manage their assets in order to obtain ongoing, in-depth advice and life planning. To the degree that clients share their circumstances, and we are aware of changes in a client’s financial affairs, suggestions are made and implemented. The scope of work and fee for our advisory services is provided to the client in writing prior to the start of the relationship. An Advisory Service Agreement includes investment and cash management responsibilities and all associated expenses. 2 The total assets under advisement listed represent assets in which we have neither discretionary authority nor responsibility for arranging or effecting the purchase or sale of recommendations provided to and accepted by the ultimate client. Inclusion of these assets will make our total assets number different from assets under management disclosed in Item 5.F of our Form ADV Part 1A due to specific calculation instructions for Regulatory Assets Under Management. Asset Management Assets are invested primarily in institutional, no-load mutual funds, closed-end funds, exchange-traded funds (“ETFs”), individual equities, and bonds (although we can offer advice on any type of security including alternative investments such as REITs, limited partnerships and Variable Annuities, among others). Initial public offerings (“IPOs”) are available through Carson Advisory Group via our relationship with Raymond James Financial Services, Inc., member FINRA/SIPC, (“RJFS”), though they are very rarely recommended or used in client accounts. For Discretionary Ambassador Accounts, participation in IPOs are only permitted if the client expressly authorizes their purchase on an unsolicited basis. All shares would be purchased net of any internal offering, such that there is no compensation or client expense. There can also be offerings with commission, but those are then excluded from advisory billing and treated as a non-billable asset (see page 7). Accounts Managed by Carson Advisory Group Ambassador Program The Ambassador Program is an all-inclusive wrap fee investment advisory account offered by Carson Advisory Group and administered by Raymond James, in which the client is provided with ongoing investment advice and monitoring of securities holdings. This type of account offers clients the ability to pay an asset-based advisory wrap fee in lieu of a transaction fee for each investment transaction within the account. There are no separate transaction fees in Ambassador Program accounts for any type of security. Carson Advisory Group receives a portion of the advisory fee. Charges for other account services provided by Raymond James, not directly related to the advisory, execution, and clearing services provided as part of the wrap fee program may be incurred. Some of these additional expenses could include but are not limited to, safekeeping fees, interest charges on margin loans, and fees for legal or courtesy transfers of securities. The Ambassador Program is offered as both a Discretionary and Non-Discretionary Program. For Ambassador Discretionary Program accounts, the IAR has the authority to buy and sell securities without

specific consent from the client, at the IAR’s discretion, as deemed appropriate in adherence to the investment objectives designated by the client. For Ambassador Non-Discretionary Program accounts, the IAR will make recommendations to the client, according to their investment objectives, but the client is responsible for all trading decisions. Accounts Managed by Other Asset Managers3 Carson Advisory Group offers to our clients a number of RJA’s managed wrap programs, including but not limited to Raymond James Consulting Services (RJCS), Freedom, Freedom Foundation, Freedom UMA, and American Funds Model Portfolios, under a subadvisory agreement with RJA. Our advisors work with our clients to choose an appropriate _________________________________________ 3Accounts managed by other asset managers are included in our assets under advisement. program and help the client to select the managers, strategies, or disciplines within the programs that best fit their financial objective and risk profile, as applicable. Once the program, described in more detail below, is selected by the client, RJA is appointed as a discretionary investment adviser under the appropriate advisory agreement. In this way, RJA acts as a subadviser in directly (or indirectly through other subadvisers) managing client’s assets through the selected program. Both RJA (and its affiliates and agents, and other subadvisers, as applicable) and Carson Advisory Group advisors receive a portion of the advisory fee paid by the client. Below is a list of some of some of the managed platforms available to our clients: Raymond James Consulting Services (RJCS) Raymond James Consulting Services (RJCS) serves as a conduit through which clients may access a number of nationally known money management firms for account sizes far below normal firm minimums. All managers hired have passed an in-depth quantitative and qualitative screening process and are subject to on-going monitoring by the Asset Management Services (AMS) Manager Selection & Due Diligence team at Raymond James. Based upon the client’s investment objectives and financial needs, the IAR will assist in selecting an appropriate manager. Freedom Account (including Freedom Core Mutual Fund, Freedom Hybrid, and Freedom ETF) Freedom is an AMS-managed account program offering various strategies comprised of Mutual Funds or Exchange Traded Funds. The program is selected based upon the client’s investment objectives and financial needs. Freedom Foundation Freedom Foundation strategies use mutual funds to achieve asset allocation aligned with some of the most commonly utilized Freedom portfolios. This program allows for a smaller initial account requirement and is commonly used for next generation investors. Freedom Unified Managed Account (UMA) Freedom UMA is an AMS-managed account that provides higher-net-worth clients numerous model strategies across multiple investment objectives utilizing both separately managed account (SMA) managers and mutual funds. AMS Sustainable Investing Solutions AMS makes available to us a variety of AMS-managed and Separately Managed account options that may help clients align their investing goals with their personal values. American Funds Model Portfolios The American Funds Model Portfolios are available through AMS and provide clients access to American Funds mutual funds through model portfolios delivered by American Funds’ Portfolio Oversight Committee. Retirement Plan Services The Employee Retirement Income Security Act of 1974 (“ERISA”) sets forth rules under which Plan Fiduciaries may retain investment advisers for various types of services with respect to Plan assets. For certain services, Carson Advisory Group will be considered a fiduciary under ERISA. For example, Carson Advisory Group will act as an ERISA § 3(21) fiduciary when providing non-discretionary investment advice to the Plan Fiduciaries by recommending a suite of investments as choices among which Plan Participants may select. Alternatively, Carson Advisory Group can act as an ERISA § 3(38) fiduciary when providing discretionary investment advice to the Plan Sponsor. Carson Advisory Group offers pension planning and plan implementation services to small and medium-sized businesses covering Plan Consulting, Plan Investment, and Plan Participation Services. The service will address the need of a company to install a comprehensive retirement plan, provide an overview of the various plan design characteristics, and assist with the selection of a recordkeeper and/or third-party administrator. The particular services provided will be detailed in the consulting agreement. Retirement Account Recommendations In complying with the DOL's Prohibited Transaction Exemption 2020-02 ("PTE 2020-02"), when applicable, Carson Advisory Group provides the following acknowledgment to clients: When Carson Advisory Group provides investment advice to clients regarding their retirement plan account or individual retirement account, we are fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. The way Carson Advisory Group is compensated could create some conflicts with the clients’ interests, so where applicable, we operate under an exemption that requires us to act in the client’s best interest and not put our interests ahead of the client’s. Under this exemption, we must:
• Meet a professional standard of care (give prudent advice),
• Never put our financial interests ahead of clients’ (give loyal advice),
• Avoid misleading statements about conflicts of interest, fees, and investments,
• Follow policies and procedures designed to ensure that we give advice that is in the client’s best interest,
• Charge no more than is reasonable for our services, and
• Give clients basic information about conflicts of interest. Carson Advisory Group benefits financially from the rollover of client assets from a retirement account to an account that we manage because the assets increase our assets under management, and, in turn, our advisory fees. As a fiduciary, Carson Advisory Group only recommends a rollover when we believe it is in the client’s best interest. Financial Planning Service A financial plan can be designed, as part of any of our advisory services described above, to help clients with aspects of financial planning. The average client does not utilize a detailed financial plan, but our mutual understanding typically includes at least some elements of the following: 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 including retirement cash flow analysis; estate planning review and recommendations; and education planning with funding recommendations. Please note that our IARs, in consultation with the client, may decide to utilize a single strategy described above, multiple strategies noted above, individual securities in combination with one of the strategies noted above, or none of the strategies noted above. In any scenario, IARs will tailor their recommendations and investments based on the client’s investment objective and risk tolerance, and the client will have the opportunity to place reasonable restrictions or constraints on the way their account is managed.