9AT: MERCANTILE INVESTMENT ADVISORS

Adviser Profile

As of Date	04/30/2026
Registration	SEC, Approved, 08/15/2012
ADV Location	WICHITA FALLS, TX, United States
Contact Info	940 xxxxxxx

AUM^*	146,003,313 28%
of that, discretionary	146,003,313 28%
Number of Employees	3
of those in investment advisory functions	2
Private Fund GAV^*	0
Avg Account Size	2,056,385 38%
% High Net Worth	39.44% 11%
SMA’s	Yes
Private Funds	0

Adviser Type

- Large advisory firm

Client Types

- Individuals (other than high net worth individuals)
- High net worth individuals
- Charitable organizations

Advisory Activities

- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses
- Publication of periodicals or newsletters

Compensation Arrangments

- A percentage of assets under your management

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser WALSH & ASSOCIATES, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM827.7m	#Funds-
Adviser SIGNET FINANCIAL MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM1.2b	#Funds-
Adviser VISTA CAPITAL PARTNERS, INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM3.2b	#Funds-
Adviser ROOT FINANCIAL PARTNERS	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM2.1b	#Funds-
Adviser MURRAY FINANCIAL SERVICES, INC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM134.0m	#Funds-
Adviser ETF PORTFOLIO PARTNERS, INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM431.1m	#Funds-
Adviser SAGE ADVISORS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM198.1m	#Funds-
Adviser LECONTE WEALTH MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM346.8m	#Funds-
Adviser HALL CAPITAL MANAGEMENT COMPANY, INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM411.6m	#Funds-
Adviser ASSETBUILDER, INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM812.7m	#Funds-

Brochure Summary

Overview

Our only business is to provide investment management and services for both individuals and institutions using a combination of equities, fixed-income, exchanged-traded and mutual fund securities as well as cash funds. Allocation of these investments is based upon our current analyses of economic trends, markets, and investment opportunities. We are not stifled by restrictions as to ‘style’ or ‘sector’ investments, but continually assess market opportunities and allocate investments based upon value, growth projections, and income generation. Tailored Relationships: Our investment portfolios speak to the individual needs of each client; their risk profile, income and growth requirements, as well as overall objectives. While using many of the same basic securities in most accounts, allocations

are adjusted for particular needs such as risk tolerance, tax rates, retirement income, and fixed or equity only exposure. Agreements: Clients are provided with an investment management agreement setting out the duties, responsibilities and guidance for both the client and advisor, including our fee structure. It stipulates the advisor’s ability to invest funds in security markets and deduct quarterly fees from the account. We do not accept custody of a client’s account according to the SEC definition. Charles Schwab is the primary custodian for our clients, but some can and do choose others. Regardless, necessary cash transfers are initiated by the client and move directly to or from specified financial institutions to the investment account without our intervention.

MERCANTILE INVESTMENT ADVISORS

MERCANTILE INVESTMENT ADVISORS

HERBERT R SMITH & COMPANY

MERCANTILE ADVISORS I, LLC

HERBERT R. SMITH & COMPANY

Adviser Profile

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Similar advisers

Brochure Summary

Overview

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MERCANTILE INVESTMENT ADVISORS MERCANTILE INVESTMENT ADVISORS HERBERT R SMITH & COMPANY MERCANTILE ADVISORS I, LLC HERBERT R. SMITH & COMPANY

Adviser Profile

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Similar advisers

Brochure Summary

Overview

MERCANTILE INVESTMENT ADVISORS

MERCANTILE INVESTMENT ADVISORS

HERBERT R SMITH & COMPANY

MERCANTILE ADVISORS I, LLC

HERBERT R. SMITH & COMPANY