Brent Forrest & Associates, LLC has chosen to add the DBA Wela Financial Advisory for business purposes. This document, offered by Brent Forrest & Associates, LLC, DBA Wela Financial Advisory hereafter known as Wela, discloses information about the investment advisory services we provide and the manner in which we provide them to you, the client. We are a fee-based investment management and financial planning firm located in San Antonio, Texas, specializing in proactive investment advisory and planning services for investors. The firm was established in 1995 by Brent Forrest. The firm’s owners are Priscilla A. McKinley, Esmond M. Pabilona and Anders O. Storvik. We are committed to helping, build, manage, and preserve wealth, and provide assistance to clients to help achieve their stated financial goals. We may offer an initial complimentary meeting; however, investment advisory services are initiated only after you execute an engagement letter or client agreement with us. Written Acknowledgement of Fiduciary Status When we provide investment advice to you regarding your retirement plan account or individual retirement account, we are fiduciaries within the meaning of Title 1 of the Employee Retirement Income Act (ERISA) and the Internal Revenue Code, as applicable, which are laws governing retirement accounts. The way we make money creates some conflicts with your interests, so we operate under a special rule that requires us to act in your best interest and not put out interest ahead of yours. Under this special rule’s provisions, we must: Meet a professional standard of care when making investment recommendations (give prudent advice); Never put our financial interests ahead of yours when making recommendations (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 your best interest; Charge no more than a level fee that is reasonable for our services; and Give you basic information about conflicts of interest. Investment Management and Supervision Services We offer discretionary investment management and investment supervisory services for a fee, based on a percentage of your assets under management. These services include investment analysis, asset allocation, quarterly account statements and ongoing monitoring of your portfolio. Wela will work with you to obtain necessary information regarding your financial condition, investment objectives, liquidity requirements, risk tolerance, time horizons, and any restrictions on investing. This will enable us to determine the portfolio composition best suited for you. In performing our services, we shall not be required to verify any information received from you or from other professionals. If you request, we may recommend and/or engage the services of other professionals for implementation purposes. You are under no obligation to engage the services of any such recommended professional. Part 2A Brochure – 11/2023 5 Once we have determined the types of investments to be included in your portfolio, and allocated them, we will provide regular ongoing portfolio reviews and management services. We will rebalance the portfolio, as we deem appropriate, to meet your financial objectives. We will rebalance your portfolio on a discretionary basis. While our advisory services are tailored to you as an individual, our multi-fund manager approach makes it difficult for us to ensure that your portfolio will not invest in a particular industry or security. However, we are happy to discuss your preferences regarding socially conscious investment concerns and we’ll try

as much as possible to accommodate them. In all cases, you have a direct and beneficial interest in your securities, rather than an undivided interest in a pool of securities. We do not and will not have custody of your funds or securities, except for the limited access to deduct our advisory fees via the qualified custodian and only with appropriate authorization from you. Financial Planning Services Our financial planning services may include analysis of your situation and assistance in identifying and implementing appropriate techniques to help you meet your specific financial objectives. Such services may include a written financial analysis and specific or general investment and/or planning recommendations. In preparing your plan, we may address any or all of the six areas of financial planning established by the National Endowment for Financial Education and endorsed by the Certified Financial Planner Board of Standards. These include financial position, protection planning, investment planning, income tax planning, retirement planning, and estate planning. Other services in your plan may include:
• Appropriate income strategies for both pre- and post-retirement;
• Review of existing and proposed asset allocation in light of your objectives. This would include a review of risk/return issues and a suggested plan of action consistent with the same;
• Calculation of your pre-retirement savings and investing needs;
• Assessment of your overall financial position including net worth, cash flow, and debt;
• Analysis of IRA-related issues including rollover, distribution, and inheritance planning options;
• Evaluation of strategies designed to maximize the utilization and protection of your IRA assets;
• Overview and recommendations regarding estate planning issues;
• Review and determination of your life insurance needs;
• Suggestions for minimizing your federal and state income tax obligations; and
• Development of investment strategies consistent with your business ownership succession and transition planning, if applicable. Part 2A Brochure – 11/2023 6 Sub-Advisors Wela has established agreements to work with third-party investment advisers in a sub-advisory capacity. The sub-advisor is responsible for all investment-related decisions in the client accounts. Pursuant to our agreement with the co/sub-advisor, they may additionally offer some limited operational support in relation to our client accounts. The sub-advisors may be limited to only manage assets through specific custodians. For more information about what custodians a specific sub-advisor is authorized to offer services through, please refer to the sub-advisors ADV. Investment Consulting Services We may also provide portfolio review and advice for assets that are not part of our discretionary investment advisory services. This service is limited to a periodic review based on information provided to us by you, the client. We also provide limited advice on one or more isolated areas of concern such as estate planning, real estate, retirement planning, insurance, annuities, non-securities matters, or any other specific topic. Wrap Fee Programs A wrap fee program is an investment program wherein the investor pays one stated fee that includes management fees, transaction costs, and certain other administrative fees. We do not participate in any wrap fee programs. Assets Under Management As of December 31, 2022, we have $ 458,687,899.00 assets under discretionary management. We do not have any non-discretionary assets under management. Part 2A Brochure – 11/2023 7