Firm Description CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC was founded in 2003. CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC provides personalized confidential financial planning and investment management to individuals, pension and profit-sharing plans, trusts, estates and business owners. 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. CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC is strictly a fee-only financial planning and investment management firm. The firm does not sell products, annuities, insurance, stocks, bonds, mutual funds, limited partnerships, or other commissioned products to earn commissions although it does use some of those products. The firm is not affiliated with entities that sell financial products or securities. No commissions in any form are accepted. No finder’s fees are accepted. Investment advice is an integral part of financial planning. In addition, CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC advises clients regarding cash flow, college planning, retirement planning, tax planning and estate planning. CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC does not act as a custodian of client assets. The client always maintains asset control. CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC places trades for clients under a limited power of attorney. An evaluation of each client's initial situation is provided to the client. 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. CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC can refer clients to appropriate professionals whose expertise we trust. No finder’s fees or referral fees are accepted. Conflicts of interest will be disclosed to the client in the unlikely event they should occur. The initial meeting, which may be in person, by telephone at (518) 280-0030, or via videoconference (typically Zoom or FaceTime) 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 Kerry Mayo and Julie Sciandra are members of the Firm. Kerry Mayo owns 72.0% of the LLC. Julie Sciandra owns 28.0% of the LLC. Types of Advisory Services CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC provides investment supervisory services, also known as asset management services, and furnishes investment advice through consultations. On more than an occasional basis, CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC furnishes advice to clients on matters not involving securities, such as financial planning matters, taxation issues, and trust services that often include estate planning. As of 3/08/2024, CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC manages approximately $217 million in assets for approximately clients. Approximately $217 million is managed on a discretionary basis, and $0 is managed on a non-discretionary basis. Tailored Relationships The goals and objectives for each client are documented in our client relationship management system. Investment policy statements are created that reflect the stated goals and objectives. Clients may impose restrictions on investing in certain securities or types of securities. 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 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 firm charges $215 per hour for financial planning services. It provides an estimate of the time it will take to complete the services. Since financial planning is a discovery process, situations occur wherein the client is unaware of certain financial exposures or predicaments. In the event

that the client’s situation 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 when a fee increase is necessary. Additional implementation work, if any, is billed separately at the rate of $215 per hour. Advisory Services Agreements Most clients choose to have CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC manage their assets in order to obtain ongoing in-depth advice and life planning. All major aspects of the client’s financial affairs are reviewed. Realistic and measurable goals are set and objectives to reach those goals are defined. As goals and objectives change over time, suggestions are made and implemented on an ongoing basis. The scope of work and fee for Advisory Services is provided to the client in writing prior to the start of the relationship. The agreements that govern Advisory Services include: Financial Planning Engagement Letter and Investment Management Agreement. Advisory Services may include: cash flow management; insurance review; investment management (including performance reporting); education planning; retirement planning; estate planning; and tax planning, as well as guidance on the implementation of recommendations within each area. The annual Investment Management Agreement fee is based on a percentage of the investable assets according to the following schedule: _1.00%_ on the first $1,000,000; _0.75%_ on the next $1,000,000 (from 1,000,001 to 2,000,000); _0.50%_ on the next $4,000,000 (from 2,000,001 to 6,000,000); and _0.40%_on the assets above $6,000,000. Although the Agreements are ongoing, adjustments may be required. CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC, at its discretion, may aggregate client non-household family member accounts for fee schedule purposes. 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. CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC may waive management fees for immediate family members. Retainer Agreement In some circumstances, a Retainer Agreement is executed in lieu of the fee schedule in the Investment Management Agreement, when it is more appropriate to work on a fixed-fee basis. The annual fee for a Retainer Agreement is dependent on the assets under management and is negotiable. Tax Preparation Agreement Tax preparation work is not included in the Advisory Service Agreements or Retainer Agreements scope of work. CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC prepares summary investment-related tax information for the client’s tax preparer. Hourly Planning Engagements CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC provides hourly planning services for clients who need advice on a limited scope of work. The hourly rate for limited scope engagements is $215 per hour. Asset Management Assets are invested primarily in no-load mutual funds, individual fixed income securities and exchange-traded funds through Fidelity Institutional. Fund companies charge each fund shareholder an investment management fee that is disclosed in the fund prospectus. Fidelity Institutional may charge a transaction fee for the purchase of some funds. Stocks and bonds may be purchased or sold through Fidelity Institutional. Fidelity Institutional may charge a fee for stock and bond trades. CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC does not receive any compensation, in any form, from fund companies or Fidelity Institutional. Investments may also include: equities (stocks), warrants, corporate debt securities, commercial paper, certificates of deposit, municipal securities, investment company securities (mutual funds shares), U.S. government securities, options contracts, futures contracts, exchange traded funds, and interests in partnerships. Initial public offerings (IPOs) are not available through CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC. Termination of Agreement A client may terminate any of the aforementioned agreements at any time by notifying CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC in writing and paying the rate for the time spent on the investment advisory engagement prior to notification or termination. If the client made an advance payment, CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC will refund any unearned portion of the advance payment. CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC may terminate any of the aforementioned agreements at any time by notifying the client in writing. If the client made an advance payment, CAPITAL FINANCIAL ADVISORS OF NEW YORK, LLC will refund any unearned portion of the advance payment.