Firm Description Association Financial Services, Inc. (“The Firm”) was founded in 2004 and began offering advisory services in October 2007. Martin A. Watkins is the majority owner. The Firm is a registered investment adviser that provides financial planning and investment counseling services to individuals, corporations, small businesses, 401(k), pensions and profit-sharing plans, estates, trusts, and institutional clients. The Firm does business as TrueNorth Wealth, TrueNorth Retirement Services, and Idaho Medical Association Financial Services. The Firm provides comprehensive financial planning to clients. This includes the five areas of financial planning, which are Protection, Estate Planning, Income Tax Planning, Retirement Income Planning and Investment Planning. The Firm does not have investment discretionary authority on any accounts. In other words, we neither custody client assets nor execute trades at the third-party custodians SEI Private Trust Company “SEI” or Schwab without client consent. Clients may at any time add funds or securities to their accounts, withdraw funds or securities from their accounts, or close their accounts. There are no lock-up provisions. Types of Advisory Services The Firm provides investment supervisory services, also known as asset management services and furnishes financial planning and investment advice through consultations ASSET MANAGEMENT The Firm offers non-discretionary direct wrap asset management services to advisory clients custodied at SEI. In a wrap fee program, clients are charged one fee which incorporates asset management and brokerage services. More information regarding this service can be found in Part 2A, Appendix 1 (the “Wrap Fee Program Brochure”). The Firm also offers traditional asset management services for clients custodied at Schwab. In a traditional asset management services, clients are charged an asset management fee and separately pay for brokerage services. ERISA PLAN SERVICES The Firm provides service to qualified and non-qualified retirement plans including 401(k) plans, 403(b) plans, pension and profit-sharing plans, cash balance plans, and deferred compensation plans. The Firm may act as either: 1. Limited Scope 3(21) Fiduciary. The Firm typically acts as a limited scope 3(21) fiduciary that can advise, help and assist plan sponsors with their investment decisions. The plan sponsor is still ultimately responsible for the decisions made in their plan, though using The Firm can help mitigate that plan sponsor’s liability by following a diligent process. 2. 3(38) Investment Manager. The Firm can also act as an ERISA 3(38) Investment Manager in which it has discretionary management and control of a given retirement plan’s assets. The Firm would then become solely responsible and liable for the selection, monitoring and replacement of the plan’s investment options. INSTITUTIONAL CONSULTING The Firm offers consulting advice, counsel and recommendations to institutional clients on a case-by-case basis. These services include but are not limited to general advice, counsel, and recommendations to staff, governing boards, and investment

advisory committees on a variety of matters. The Firm will analyze, evaluate, and help to improve investment options, underlying investments, asset allocation strategies, and objectives based on age groups of its beneficiaries as well as allocation for risk reduction. FINANCIAL PLANNING AND CONSULTING Services can include: determination of financial objectives, identification of financial problems, cash flow management, tax planning, insurance review, investment management and/or consulting, education funding, retirement planning, and estate planning. Normally, financial planning is provided in conjunction with investment management services, with the client’s investment management fee also covering the planning work. The Firm does not actively seek financial planning-only engagements, but may offer them at its sole discretion. In this case, the client will compensate The Firm on an hourly fee basis detailed under the “Fees and Compensation” section of this brochure. The Firm gathers information for financial planning through personal interviews, which may take place in person or by phone, electronic mail, or other means. Related documents supplied by the client are carefully reviewed, and The Firm may provide a financial planning questionnaire. Often, a written financial plan report is prepared. From time to time, clients may request ad hoc consultation on individual planning topics, and a written report may not be necessary. Should a client choose to implement the recommendations in the plan, The Firm suggests the client work closely with his/her attorney, accountant, insurance agent, or other professional(s) as may be necessary. Implementation of financial plan recommendations is entirely at the client’s discretion, and the client is under no obligation to effect transactions through The Firm. EDUCATIONAL SEMINARS/WORKSHOPS The Firm holds seminars and workshops to educate the public on different types of investments and the different services they offer. The seminars are educational in nature and no specific investment or tax advice is given. The Firm does not charge a fee for attendance to these seminars. Client Tailored Services and Client Imposed Restrictions The goals and objectives for each client are documented in our client files. Investment strategies are created that reflect the stated goals and objective. Clients may impose restrictions on investing in certain securities or types of securities. Agreements may not be assigned without written client consent. Wrap Fee Programs Our firm offers and sponsors a wrap fee program. Asset Management services are offered through wrapped accounts and non-wrap accounts, which are managed on an individualized basis according to the client’s investment objectives, financial goals, risk tolerance, etc. There is no difference between how accounts in the wrap-fee program and accounts outside of the wrap-fee program are managed. Please see our Wrap Fee Program Brochure for more information.
Client Assets under Management As of February 5, 2024, the Firm has approximately $1,017,412,752 of client assets under management on a non-discretionary basis.