Portfolio Management Services HORAN Capital Advisors, LLC (the “Firm” / “HCA”) provides continuous advice to clients regarding their assets. The Firm will manage advisory accounts on a discretionary or non-discretionary basis. Account supervision is guided by the stated objectives of the client (i.e., aggressive, capital appreciation, growth, balanced, conservative, and capital preservation) and will follow our core approach while opportunistically adjusting the target asset allocation based on tactical forward-looking factors. Account management is performed based on each client’s unique set of circumstances, goals and needs. In forming the basis for its recommendations and/or investment management, the Firm will carefully review each client’s individual investment needs and objectives to determine which services or products are most suitable for the client. For discretionary accounts, we will execute transactions without seeking prior client consent. However, clients may impose reasonable restrictions on investing in certain securities, types of securities or industry sectors. Although the goal of all recommendations and/or investment management by the Firm is to increase investment performance and reduce risk, no guarantees can be made. All investors should be aware that past performance is no guarantee of future results. The Firm typically provides portfolio advisory services to high-net-worth individuals and institutions. In general, clients are required to have a minimum opening investment account size of $500,000. However, the decision to engage in an investment advisory relationship with a client remains the sole discretion of the Firm regardless of account balance/size. The Firm provides investment advice/management in the following types of securities:
• Equity Securities
• Warrants
• Corporate Debt
• Commercial Paper
• Certificates of Deposit
• Municipal Securities
• Investment Company Securities / Mutual Funds
• United States Government Securities
• Options Contracts
• Hedge Funds
• Private Equity Funds
• Alternative Investments Clients can place reasonable restrictions on certain types of investments. Clients

retain individual ownership of all securities. A client agreement may be canceled at any time, by either party, for any reason upon receipt of 30 days written notice. Upon termination of any account, any prepaid, unearned fees will be promptly refunded, and any earned, unpaid fees will be due and payable. 513.745.0707 | www.horanwealth.com 5 The client has the right to terminate an agreement without penalty within five business days after entering into the agreement. Financial Planning The Firm offers fee-based financial planning services to clients or potential clients. A financial plan typically includes a net worth statement, a cash flow analysis, a review of existing investments and/or retirement assets, investment recommendations, strategic tax planning, estate planning recommendations or education planning. A financial plan may include investment recommendations or, at a minimum, consultative advisory services on client investment decisions. Regarding plan-only services, implementation of the recommendations is at the client’s discretion and their responsibility unless they decide to engage the Firm for full or partial discretionary investment management and ongoing financial advice. Fees charged for financial planning and consulting services are negotiable based upon the type of client, the services requested, the investment adviser representative providing advice, the complexity of the client’s situation, the composition of the client’s account, other advisory services provided and the relationship of the client and the investment adviser representative. The Firm has been in business since June of 2010. As of December 31, 2023, the assets under management with the Firm are detailed as follows: Type of account Total Assets Number of Accounts Discretionary Accounts $514,731,778 686 Non-Discretionary Accounts $ 18,874,345 33 All Accounts $533,606,123 719 Material ownership in the Firm is held by four parties, all of which are interested parties – Terence Horan, Mark A. Bennett, David I. Templeton, and Todd Poellein. As of March 15, 2024, the Firm has eleven full-time or shared employees.