Disclosure

Corporate Identity and Regulatory Independence

AdvisorForInvestors LLC is a privately held for-profit limited liability company organized under the laws of the State of Arizona, operating the digital platform located at advisorforinvestors.com and associated digital properties. The Company is not affiliated with, endorsed by, sponsored by, or funded by the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority, the North American Securities Administrators Association, the Certified Financial Planner Board of Standards, or any other governmental, quasi-governmental, regulatory, or self-regulatory organization. The Company operates with full organizational and editorial independence from all rated entities and maintains no employment, contractual advisory, ownership, or referral relationship with any SEC-registered investment adviser firm included in its rating database that could reasonably be expected to compromise the objectivity of its rating determinations.

Data Sources and AFI Score Methodology

The AFI Score, a proprietary composite index developed and maintained exclusively by AdvisorForInvestors LLC, is calculated through the systematic application of a standardized quantitative methodology to publicly accessible regulatory data obtained from the following primary sources: SEC Form ADV Parts 1 and 2, as filed and maintained in the SEC's Investment Adviser Public Disclosure database accessible at adviserinfo.sec.gov; FINRA BrokerCheck records maintained at brokercheck.finra.org; and supplementary data from state securities regulatory databases and the NASAA Central Registration Depository system where applicable. The methodology evaluates firms across multiple independently weighted criteria encompassing compensation structure and the presence or absence of commission-based revenue arrangements, aggregate disciplinary history as disclosed in SEC Form ADV Part 1 Schedule D, the completeness and specificity of Form ADV Part 2 narrative disclosures, years of continuous SEC registration and operational history, assets under management relative to client count, client composition by investor type classification, and the disclosure of material conflicts of interest pursuant to applicable SEC regulations. The Company does not conduct independent audits, forensic accounting examinations, client satisfaction surveys, portfolio performance analyses, or direct qualitative assessments of investment advice quality. Scores are recalculated on a monthly basis following the availability of updated regulatory filings, and material developments occurring between recalculation cycles will not be reflected in the displayed AFI Score until the subsequent scheduled update.

Revenue Model and Compensation Disclosures

In the interest of complete and unambiguous disclosure, the Company identifies the following material sources of compensation that could reasonably be expected to create actual or apparent conflicts of interest. First, SEC-registered registered investment adviser firms that have received an AFI Score of 50 or above, corresponding to a Recommended or Highly Recommended rating tier, may enter into a contractual arrangement with the Company pursuant to which such firms pay a recurring monthly fee to claim and customize their Platform profile with supplemental information, including firm narrative content, team information, service specialization disclosures, and preferred contact information. Second, firms meeting the minimum AFI Score threshold for commercial eligibility may pay supplemental fees to obtain enhanced visibility within Platform search results, including prioritized listing placement, homepage featuring, and inclusion in electronic newsletter distributions. Third, the Company may charge registered investment adviser firms a per-lead transaction fee upon the successful transmission of an investor contact request through the Platform's connection request functionality. Fourth, the Company may display general financial services advertising on the Platform from third-party advertisers. The Company expressly represents and warrants that payment of any fee by any registered investment adviser firm to the Company, in any amount and of any type whatsoever, does not and will not influence, modify, improve, adjust, or otherwise affect that firm's AFI Score calculation or rating tier assignment. All commercial arrangements are strictly limited to profile visibility, search placement priority, and lead distribution mechanics, operating entirely independently of the rating determination process. All paid profile placements and sponsored positions are disclosed to Platform users through conspicuous labeling in compliance with applicable Federal Trade Commission guidance.

FTC Compliance and Material Connection Disclosures

In accordance with the Federal Trade Commission's Guides Concerning the Use of Endorsements and Testimonials in Advertising, 16 C.F.R. Part 255, and related FTC guidance on digital endorsements and material connections, the Company discloses that registered investment adviser firms that have entered into commercial arrangements with the Company as described above maintain a material financial connection with the Company. This material connection is disclosed on each such firm's profile page and within all sponsored placement contexts through conspicuous labeling. Testimonials or endorsements of the Company or its rating methodology that appear on the Platform have been solicited or reviewed by the Company and may or may not be representative of the typical user experience. Rating accuracy and methodology integrity are maintained as primary obligations that supersede all commercial considerations, and the existence of commercial arrangements does not influence, delay, or otherwise affect the Company's obligation to publish accurate and objective ratings based solely on publicly available regulatory data.

Limitations, Forward-Looking Information, and Contact

The information and ratings published on the Platform are intended for use by residents of the United States and are made available in compliance with applicable U.S. federal and state law. The Company makes no representation that the Platform or its content is appropriate for or compliant with the laws of any jurisdiction outside the United States, and access to the Platform from jurisdictions where its content may be unlawful is prohibited. Users are expressly cautioned that publicly available regulatory data upon which AFI Scores are based may contain material errors, omissions, or processing delays for which the Company bears no responsibility. A Highly Recommended rating does not guarantee investment returns, regulatory compliance, or suitability for any particular investor's circumstances. A Not Recommended rating does not constitute an allegation or finding of fraud, misconduct, or violation of any statute or regulation. All questions, regulatory inquiries, or concerns regarding this Disclosure or the Company's commercial practices should be directed to disclosure@advisorforinvestors.com.