Form ADV Part 2A, Item 4 Firm Description Capital Management Consultants is an independent, fee-only SEC-Registered Investment Advisory firm located in Hawthorn Woods, Illinois. It is applying for registration with the State of Illinois. Since 1988, our firm has been providing professional advisory services for profit sharing plans, partnerships, trusts, corporations, and individuals. Principal Owners Principal owners of Capital Management Consultants, Inc. are as follows: Marc Davis, President Robert Stumpf, Treasurer Type of Services Offered CMC provides discretionary, investment management services on a fee only basis, which includes designing, revising, and reallocating a client’s custom portfolio based on continual client reviews and market analysis. Tailored Relationships The focus at Capital Management Consultants is to provide you with superior personalized service and unbiased advice that is tailored to your investment goals. Whether you are the trustee of a retirement plan or an individual who has personal money to invest, we take the time to listen to your needs in order to develop a customized plan that will strategically be adjusted throughout the years to meet your financial objectives. We may use investor questionnaires which include a risk profile that help us in determining your individual objectives and risk tolerance. We will also assist you with identifying your investment objectives by assessing your risk tolerance based upon age, income, need for cash flow, investment goals and emotional tolerance for volatility. Strategies are then developed and implemented through an optimal combination of investments. When constructing portfolios, we will determine how to allocate funds across different asset classes and securities. You may limit our discretionary authority (for example, limiting the types of securities that can be purchased for your account) by providing our firm with your restrictions and guidelines in writing. Prior to engaging CMC to provide the described advisory service, the client will be required to enter into a written agreement with CMC setting forth the terms and conditions under which CMC shall render its services. Such contract shall remain in effect unless terminated by either party upon 30 days written notice. In providing the contracted services, we are not required to verify any information we receive from you or from your other professionals (e.g. attorney, accountant, etc.). Since we rely expressly

on the information that you provide, you must promptly notify our firm if your financial situation, goals, objectives or needs change. Selection of Third-Party Money Managers CMC may also recommend that certain clients authorize the active discretionary management of a portion of their assets by and/or among certain independent investment manager(s) either directly or through a wrap fee program ("Independent Manager(s)"), based upon the stated investment objectives of the client. The terms and conditions under which the client shall engage the Independent Manager(s) shall be set forth in separate written agreements between (1) the client and CMC and (2) the client and the designated Independent Manager(s). CMC shall continue to render advisory services to the client relative to the ongoing monitoring and review of account performance, for which CMC shall receive an annual advisory fee which is based upon a percentage of the market value of the assets being managed by the designated Independent Manager(s). Factors that CMC shall consider in recommending Independent Manager(s) include the client's stated investment objective(s), management style, performance, reputation, financial strength, reporting, pricing, and research. The investment management fees charged by the designated Independent Manager(s), together with the fees charged by the corresponding designated broker-dealer/custodian of the client's assets, may be exclusive of, and in addition to, the Adviser's investment advisory fee set forth above. As discussed above, the client may incur additional fees than those charged by CMC, the designated Independent Manager(s), and corresponding broker-dealer and custodian. In addition to CMC’s written disclosure statement, the client shall also receive the written disclosure statement of the designated Independent Manager(s). Certain Independent Manager(s) may impose more restrictive account requirements and varying billing practices than CMC. In such instances, CMC may alter its corresponding account requirements and/or billing practices to accommodate those of the Independent Manager(s). Wrap Fee Programs We do not participate in wrap fee programs. Managed Assets All client accounts are managed on a discretionary basis. As of December 31, 2022, Capital Management Consultants’ assets under management totaled $84,089,195. All accounts and assets under management were on a discretionary basis.