AFG FIDUCIARY SERVICES

F I D U C I A R Y S E R V I C E S F I D U C I A R Y S E R V I C E S AFG Fiduciary Services Limited Partnership Form ADV Part 2A – Disclosure Brochure Effective: March 5, 2026 This Form ADV 2A (“Disclosure Brochure”) provides information about the qualifications and business practices of AFG Fiduciary Services Limited Partnership (“AFG” or the “Advisor”). If you have any questions about the content of this Disclosure Brochure, please contact the Advisor at (781) 741-2540. AFG is a registered investment advisor with the U.S. Securities and Exchange Commission (“SEC”). The information in this Disclosure Brochure has not been approved or verified by the SEC or by any state securities authority. Registration of an investment advisor does not imply any specific level of skill or training. This Disclosure Brochure provides information about AFG to assist you in determining whether to retain the Advisor. Additional information about AFG and its Advisory Persons is available on the SEC’s website at www.adviserinfo.sec.gov by searching with the Advisor’s firm name or CRD# 309943. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com  Item 2 – Material Changes Form ADV 2 is divided into two parts: Part 2A (the "Disclosure Brochure") and Part 2B (the "Brochure Supplements"). The Disclosure Brochure provides information about a variety of topics relating to an advisor’s business practices and conflicts of interest. The Brochure Supplements provide information about Advisory Persons of AFG. For convenience, the Advisor has combined these documents into a single disclosure document. AFG believes that communication and transparency are the foundation of its relationship with clients and will continually strive to provide you with complete and accurate information at all times. AFG encourages all current and prospective clients to read this Disclosure Brochure and discuss any questions you may have with the Advisor. Material Changes There have been no material changes to this Disclosure Brochure since the last annual amendment filing on February 13th, 2025. Future Changes From time to time, the Advisor may amend this Disclosure Brochure to reflect changes in business practices, changes in regulations, or routine annual updates as required by the securities regulators. This complete Disclosure Brochure or a Summary of Material Changes shall be provided to you annually and if a material change occurs in the business practices of AFG. At any time, you may view the current Disclosure Brochure online at the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with the Advisor’s firm name or CRD# 309943. You may also request a copy of this Disclosure Brochure at any time by contacting the Advisor at (781) 741-2540. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 2  Item 3 – Table of Contents Item 1 – Cover Page ...................................................................................................................................... 1 Item 2 – Material Changes ............................................................................................................................ 2 Item 3 – Table of Contents ........................................................................................................................... 3 Item 4 – Advisory Services .......................................................................................................................... 4 A. Firm Information ................................................................................................................................................... 4 B. Advisory Services Offered ................................................................................................................................... 4 C. Client Account Management ................................................................................................................................ 6 D. Wrap Fee Programs ............................................................................................................................................ 6 E. Assets Under Management ................................................................................................................................. 6 Item 5 – Fees and Compensation ................................................................................................................ 6 A. Fees for Advisory Services .................................................................................................................................. 6 B. Fee Billing ............................................................................................................................................................ 7 C. Other Fees and Expenses ................................................................................................................................... 7 D. Advance Payment of Fees and Termination ........................................................................................................ 8 E. Compensation for Sales of Securities .................................................................................................................. 8 Item 6 – Performance-Based Fees and Side-By-Side Management ......................................................... 9 Item 7 – Types of Clients .............................................................................................................................. 9 Item 8 – Methods of Analysis, Investment Strategies, and Risk of Loss ................................................ 9 A. Methods of Analysis ............................................................................................................................................. 9 B. Risk of Loss ....................................................................................................................................................... 10 Item 9 – Disciplinary Information .............................................................................................................. 11 Item 10 – Other Financial Industry Activities and Affiliations ................................................................ 11 Item 11 – Code of Ethics, Participation or Interest in Client Transactions, and Personal Trading .... 12 A. Code of Ethics .................................................................................................................................................... 12 B. Personal Trading with Material Interest ............................................................................................................. 12 C. Personal Trading in Same Securities as Clients ................................................................................................ 12 D. Personal Trading at Same Time as Client ......................................................................................................... 12 Item 12 – Brokerage Practices ................................................................................................................... 12 A. Recommendation of Custodian[s] ...................................................................................................................... 12 B. Aggregating and Allocating Trades .................................................................................................................... 13 Item 13 – Review of Accounts ................................................................................................................... 13 A. Frequency of Reviews ....................................................................................................................................... 13 B. Causes for Reviews ........................................................................................................................................... 14 C. Review Reports ................................................................................................................................................. 14 Item 14 – Client Referrals and Other Compensation ............................................................................... 14 A. Compensation Received by AFG ....................................................................................................................... 14 B. Client Referrals from Promoters ........................................................................................................................ 14 Item 15 – Custody ....................................................................................................................................... 15 Item 16 – Investment Discretion ................................................................................................................ 15 Item 17 – Voting Client Securities ............................................................................................................. 15 Item 18 – Financial Information ................................................................................................................. 15 Form ADV Part 2A – Appendix 1 ............................................................................................................... 16 Form ADV Part 2B – Brochure Supplement: Kenney, Brian ................................................................... 24 Form ADV Part 2B – Brochure Supplement: McCarthy, Joseph ............................................................ 27 Form ADV Part 2B – Brochure Supplement: Skahan, Susan ................................................................. 31 Privacy Policy ............................................................................................................................................. 33 AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 3  Item 4 – Advisory Services A. Firm Information AFG Fiduciary Services Limited Partnership (“AFG” or the “Advisor”) is a registered investment advisor with the U.S. Securities and Exchange Commission (“SEC”). AFG is organized as a limited partnership organized under the laws of the Commonwealth of Massachusetts. AFG was founded in June 2020 and became a registered investment advisor in September 2020. The General Partner of AFG is AFG GP, LLC. Brian M. Kenney is the Principal Officer of AFG. This Disclosure Brochure provides information regarding the qualifications, business practices, and the advisory services provided by AFG. B. Advisory Services Offered AFG offers advisory services to individuals, high net worth individuals, families, trusts, estates, businesses, and retirement plans (each referred to as a “Client”). The Advisor serves as a fiduciary to Clients, as defined under the applicable laws and regulations. As a fiduciary, the Advisor upholds a duty of loyalty, fairness, and good faith towards each Client and seeks to mitigate potential conflicts of interest. AFG’s fiduciary commitment is further described in the Advisor’s Code of Ethics. For more information regarding the Code of Ethics, please see Item 11 – Code of Ethics, Participation or Interest in Client Transactions and Personal Trading. AFG provides a holistic approach to its wealth advisory services. Client engagements typically include comprehensive financial planning and investment management services as described below. Services are tailored to the unique needs of each Client. Wealth Management Services AFG provides customized wealth management solutions for its Clients. This is achieved through continuous personal Client contact and interaction while providing discretionary investment management and planning services. AFG works closely with each Client to identify their investment goals and objectives as well as risk tolerance and financial situation in order to create an investment strategy. AFG customizes its investment management services for its Clients. Portfolios may be constructed using open-end mutual funds, exchange- traded funds (“ETFs”), individual equity securities, and or individual fixed income securities. For certain Clients, the Advisor may utilize tax-free municipal bonds and other types of investments. For certain Clients, the Advisor may employ leveraged ETFs and or the short-term use of margin. For mutual funds, the Advisor selects active and passive managers and will seek institutional share classes when available. The Advisor may retain other types of investments from the Client’s legacy portfolio due to fit with the overall portfolio strategy, tax-related reasons, or other reasons as identified between the Advisor and the Client. AFG’s investment approach is primarily long-term investment focused, but the Advisor may buy, sell or re- allocate positions that have been held for less than one year to meet the objectives of the Client or due to market conditions. AFG will construct, implement and monitor the portfolio to ensure it meets the goals, objectives, circumstances, and risk tolerance agreed to by the Client. Each Client will have the opportunity to place reasonable restrictions on the types of investments to be held in their respective portfolio, subject to acceptance by the Advisor. Retirement Accounts – When the Advisor provides investment advice to Clients regarding ERISA retirement accounts or individual retirement accounts (“IRAs”), the Advisor is a fiduciary within the meaning of Title I of the Employee Retirement Income Security Act (“ERISA”) and/or the Internal Revenue Code (“IRC”), as applicable, which are laws governing retirement accounts. When deemed to be in the Client’s best interest, the Advisor will provide investment advice to a Client regarding a distribution from an ERISA retirement account or to roll over the assets to an IRA or recommend a similar transaction including rollovers from one ERISA sponsored Plan to another, one IRA to another IRA, or from one type of account to another account (e.g., commission-based account to fee-based account). Such a recommendation creates a conflict of interest if the Advisor earns a new (or increases its current) advisory fee as a result of the transaction. No client is under any obligation to roll over a retirement account to an account managed by the Advisor. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 4  At no time will AFG accept or maintain custody of a Client’s funds or securities, except for the limited authority as outlined in Item 15 – Custody. All Client assets will be managed within their designated account[s] at the Custodian, pursuant to the advisory agreement. Please see Item 12 – Brokerage Practices. Financial Planning Services AFG will typically provide a variety of financial planning and consulting services to Clients either as a component of wealth management services or as a separate service, pursuant to the terms of the agreement with the Client. Services are offered in several areas of a Client’s financial situation, depending on their goals and objectives. Generally, such financial planning services involve preparing a formal financial plan or rendering a specific financial consultation based on the Client’s financial goals and objectives. This planning or consulting may encompass one or more areas of need, including but not limited to investment planning, retirement planning, personal savings, education savings, insurance needs, and other areas of a Client’s financial situation. A financial plan developed for or financial consultation rendered to the Client will usually include general recommendations for a course of activity or specific actions to be taken by the Client. For example, recommendations may be made that the Client start or revise their investment programs, commence or alter retirement savings, establish education savings, and/or charitable giving programs. In certain circumstances, AFG may also refer Clients to an accountant, attorney, or other specialists, as appropriate for the Client’s unique situation. For certain financial planning engagements, the Advisor will generally provide a written report that contains observations and recommendations. For consulting or ad-hoc engagements, the Advisor may not provide a written summary. Plans or consultations are typically completed within six (6) months of the contract date, assuming all information and documents requested are provided promptly. Financial planning recommendations pose a conflict between the interests of the Advisor and the interests of the Client. For example, the Advisor has an incentive to recommend that Clients engage the Advisor for investment management services or to increase the level of investment assets with the Advisor, as it would increase the amount of advisory fees paid to the Advisor. Clients are not obligated to implement any recommendations made by the Advisor or maintain an ongoing relationship with the Advisor. If the Client elects to act on any of the recommendations made by the Advisor, the Client is under no obligation to implement the transaction through the Advisor. Retirement Plan Advisory Services AFG provides retirement plan advisory services on behalf of the retirement plans (each a “Plan”) and the company (the “Plan Sponsor”). The Advisor’s retirement plan advisory services are designed to assist the Plan Sponsor in meeting its fiduciary obligations to the Plan and its Plan Participants. Each engagement is customized to the needs of the Plan and Plan Sponsor. Services generally include: Investment Policy Statement (“IPS”) Design and Monitoring Investment Oversight Services (ERISA 3(21)) • Vendor Analysis • Plan Participant Enrollment and Education Tracking • • • Discretionary Investment Management (ERISA (3(38)) • Performance Reporting • Ongoing Investment Recommendation and Assistance These services are provided by AFG serving in the capacity as a fiduciary under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). In accordance with ERISA Section 408(b)(2), the Plan Sponsor is provided with a written description of AFG’s fiduciary status, the specific services to be rendered, and all direct and indirect compensation the Advisor reasonably expects under the engagement. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 5  C. Client Account Management Prior to engaging AFG to provide advisory services, each Client is required to enter into one or more agreements with the Advisor that define the terms, conditions, authority, and responsibilities of the Advisor and the Client. These services may include: • Establishing an Investment Strategy – AFG will develop a strategy that seeks to achieve the Client’s goals and objectives. • Asset Allocation – AFG will develop a strategic asset allocation that is targeted to meet the investment objectives, time horizon, financial situation, and tolerance for risk for each Client. • Portfolio Construction – AFG will develop a portfolio for the Client that is intended to meet the stated goals and objectives of the Client. • Investment Management and Supervision – AFG will provide investment management and ongoing oversight of the Client’s investment portfolio. D. Wrap Fee Programs AFG includes securities transaction fees, custody fees, commission fees, administrative fees, third-party service fees, and other investment costs together with its investment advisory fees. Including these fees into a single asset-based fee is considered a “Wrap Fee Program.” The Advisor customizes its investment management services for its Clients. The Advisor sponsors the AFG Wrap Fee Program solely as a supplemental disclosure regarding the combination of fees. Depending on the level of trading required for the Client’s account[s] in a particular year, the Client may pay more or less in total fees than if the Client paid its own transaction fees. Please see Appendix 1 – Wrap Fee Program Brochure, which is included as a supplement to this Disclosure Brochure. E. Assets Under Management As of December 31, 2025, AFG manages $166,256,181 in Client assets, all of which are managed on a discretionary basis. Clients may request more current information at any time by contacting the Advisor. Item 5 – Fees and Compensation The following paragraphs detail the fee structure and compensation methodology for services provided by the Advisor. Each Client engaging the Advisor for services described herein shall be required to enter into one or more written agreements with the Advisor. A. Fees for Advisory Services Wealth Management Services Wealth management fees are paid monthly, in advance of each month, pursuant to the terms of the wealth management agreement. Wealth management fees are based on the market value of assets under management at the end of the prior month. Wealth management fees range from 0.50% to 1.50% annually based on several factors, including the scope and complexity of the services to be provided, the level of assets to be managed, and the overall relationship with the Advisor. Relationships with multiple objectives, specific reporting requirements, portfolio restrictions, and other complexities may be charged a higher fee. The wealth management fee in the first month of service is prorated from the inception date of the account[s] to the end of the first month. Fees may be negotiable at the sole discretion of the Advisor. The Client’s fees will take into consideration the aggregate assets under management with the Advisor. All securities held in accounts managed by AFG will be independently valued by the Custodian. The Advisor will conduct periodic reviews of the Custodian’s valuation to ensure accurate billing. The Advisor’s fee is exclusive of, and in addition to any applicable securities transaction and custody fees, and other related costs and expenses described in Item 5.C. below, which may be incurred by the Client. However, the Advisor shall not receive any portion of these commissions, fees, and costs. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 6  Clients may make additions to and withdrawals from their account[s] at any time, subject to AFG’s right to terminate an account. Additions may be in cash or securities provided that AFG reserves the right to liquidate any transferred securities or decline to accept particular securities into a Client’s account[s]. Clients may withdraw account assets on notice to AFG, subject to the usual and customary securities settlement procedures. However, AFG designs its portfolios as long-term investments, and the withdrawal of assets may impair the achievement of a Client’s investment objectives. AFG may consult with its Clients about the options and ramifications of transferring securities. However, Clients are advised that when transferred securities are liquidated, they are subject to fees assessed at the mutual fund level (i.e., contingent deferred sales charge) and/or tax ramifications. Financial Planning Services AFG may include financial planning as part of its overall wealth management services or as a separate standalone engagement. For separate engagements, AFG offers financial planning services on either an hourly basis or a fixed engagement fee. Hourly engagements are billed at a rate of up to $300 per hour. Fixed engagements are negotiated based on the expected number of hours to complete the engagement at the Advisor’s hourly rate. Fees may be negotiable at the sole discretion of the Advisor, depending on the nature and complexity of services to be provided. An estimate for total hours and/or costs will be provided to the Client prior to engaging in these services. Retirement Plan Advisory Services Fees for retirement plan advisory services are charged an annual asset-based fee of up to 1.00%, billed either monthly or quarterly (the Billing Period), pursuant to the terms of the retirement plan advisory agreement. Retirement plan advisory fees are based on the market value of assets under management. B. Fee Billing Wealth Management Services Wealth management fees are calculated by the Advisor or its delegate and deducted from the Client’s account[s] at the Custodian. The Advisor shall send an invoice to the Custodian indicating the amount of the fees to be deducted from the Client’s account[s] at the beginning of each month. The amount due is calculated by applying the monthly rate (annual rate divided by 12) to the total assets under management with AFG at the end of the prior month. Clients will be provided with a statement, at least quarterly, from the Custodian reflecting the deduction of the wealth management fee. Clients are urged to also review the statement provided by the Custodian, as the Custodian does not perform a verification of fees. Clients provide written authorization permitting wealth management fees to be deducted by AFG to be paid directly from their account[s] held by the Custodian as part of the wealth management agreement and separate account forms provided by the Custodian. Financial Planning Services Fees for hourly and fixed fee financial planning engagements may be invoiced up to 50% upon execution of the financial planning agreement, with the balance due upon completion of the engagement deliverable[s]. Certain Clients may have their financial planning fees included with their overall investment advisory fees. Retirement Plan Advisory Services Retirement plan advisory fees may be directly invoiced to the Plan Sponsor or deducted from the assets of the Plan, pursuant to the terms of the retirement plan advisory agreement. Fees are calculated either in advance of or at the end of the Billing Period. C. Other Fees and Expenses Clients may incur certain fees or charges imposed by third parties other than AFG in connection with investments made on behalf of the Client’s account[s]. The Advisor includes securities transaction costs as part of its overall wealth management fee through the AFG Wrap Fee Program. Securities transaction fees for Client- directed trades may be charged back to the Client. Please see Item 4.D. as well as Appendix 1 – Wrap Fee Program Brochure. In addition, all fees paid to AFG for investment advisory services are separate and distinct from the expenses charged by mutual funds and ETFs to their shareholders, if applicable. These fees and expenses are described in each fund’s prospectus. These fees and expenses will generally be used to pay management fees for the AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 7  funds, other fund expenses, account administration (e.g., custody, brokerage, and account reporting), and a possible distribution fee. A Client may be able to invest in these products directly, without the services of AFG, but would not receive the services provided by AFG, which are designed, among other things, to assist the Client in determining which products or services are most appropriate for each Client’s financial situation and objectives. Accordingly, the Client should review both the fees charged by the fund[s] and the fees charged by AFG to fully understand the total fees to be paid. Please refer to Item 12 – Brokerage Practices for additional information. D. Advance Payment of Fees and Termination Wealth Management Services AFG is compensated for its wealth management services in advance of the month in which services are rendered. Either party may terminate the wealth management agreement, at any time, by providing advance written notice to the other party. The Client may also terminate the wealth management agreement within five (5) business days of signing the Advisor’s agreement at no cost to the Client. After the five-day period, the Client will incur charges for bona fide advisory services rendered to the point of termination, and such fees will be due and payable by the Client. Upon termination, the Advisor will refund any unearned, prepaid fees from the effective date of termination to the end of the month. The Client’s wealth management agreement with the Advisor is non-transferable without the Client’s prior consent. Financial Planning Services AFG may be partially compensated for its financial planning services in advance of the engagement. Either party may terminate the financial planning agreement, at any time, by providing advance written notice to the other party. The Client may also terminate the financial planning agreement within five (5) business days of signing the Advisor’s agreement at no cost to the Client. After the five-day period, the Client will incur charges for bona fide advisory services rendered to the point of termination, and such fees will be due and payable by the Client. Upon termination, the Client shall be responsible for planning fees based on the hours incurred or, in the event of a fixed fee, the percentage of the engagement completed. Upon termination, the Advisor will refund any unearned, prepaid fees. The Client’s financial planning agreement with the Advisor is non-transferable without the Client’s prior consent. Retirement Plan Advisory Services AFG may be compensated for its retirement plan advisory services in advance of the Billing Period. Either party may terminate the retirement plan advisory agreement, at any time, by providing advance written notice to the other party. The Client may also terminate the retirement plan advisory agreement within five (5) business days of signing the Advisor’s agreement at no cost to the Client. After the five-day period, the Client will incur charges for bona fide advisory services rendered to the point of termination, and such fees will be due and payable by the Client. Upon termination, the Advisor will refund any unearned, prepaid fees from the effective date of termination to the end of the Billing Period. The Client’s retirement plan advisory agreement with the Advisor is non- transferable without the Client’s prior consent. E. Compensation for Sales of Securities AFG does not buy or sell securities and does not receive any compensation for securities transactions in any Client account other than the investment advisory fees noted above. Broker-Dealer Affiliations Advisory Persons of AFG are also Registered Representatives of Purshe Kaplan Sterling Investments, Inc. (“PKS”), a securities broker-dealer, and a member of the Financial Industry Regulatory Authority (“FINRA”) and the Securities Investor Protection Corporation (“SIPC”). In one’s separate capacity as a Registered Representative of PKS, an Advisory Person will implement securities transactions under PKS and not through AFG. In such instances, an Advisory Person will receive commission-based compensation in connection with the purchase and sale of securities, including 12b-1 fees for the sale of investment company products. Compensation earned by an Advisory Person in one’s capacity as a Registered Representative is separate from and in addition to advisory fees. This practice presents a conflict of interest because Advisory Persons who are Registered Representative have an incentive to effect securities transactions for the purpose of generating commissions rather than solely based on Client needs. Clients are not obligated to implement any recommendation provided by the Advisor or AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 8  Advisory Persons. Neither the Advisor nor Advisory Persons will earn ongoing investment advisory fees in connection with any products or services implemented in the Advisory Person’s separate capacity as a Registered Representative. Please see Item 10 below. Insurance Agency Affiliations Certain Advisory Persons are licensed as independent insurance professionals. As an independent insurance professional, an Advisory Person may earn commission-based compensation for selling insurance products, including insurance products offered to Clients. Insurance commissions earned by the Advisory Person are separate and in addition to investment advisory fees. This practice presents a conflict of interest as an Advisory Person who is also an insurance professional will have an incentive to recommend insurance products to the Client for the purpose of generating commissions rather than solely based on the Client’s needs. Clients are under no obligation, contractual or otherwise, to purchase insurance products through any Advisory Person affiliated with the Advisor. Please see Item 10 below. Item 6 – Performance-Based Fees and Side-By-Side Management AFG does not charge performance-based fees for its investment advisory services. The fees charged by AFG are as described in Item 5 above and are not based upon the capital appreciation of the funds or securities held by any Client. AFG does not manage any proprietary investment funds or limited partnerships (for example, a mutual fund or a hedge fund) and has no financial incentive to recommend any particular investment options to its Clients. Item 7 – Types of Clients AFG offers investment advisory services to individuals, high net worth individuals, families, trusts, estates, businesses, and retirement plans. The amount of each type of Client is available on the Advisor’s Form ADV Part 1A. These amounts may change over time and are updated at least annually by the Advisor. AFG generally does not impose a minimum size for establishing a relationship. However, certain investments and strategies may require certain minimums for effective implementation. Item 8 – Methods of Analysis, Investment Strategies, and Risk of Loss A. Methods of Analysis AFG primarily employs fundamental analysis in developing investment strategies for its Clients. Research and analysis from AFG are derived from numerous sources, including financial media companies, third-party research materials, Internet sources, and review of company activities, including annual reports, prospectuses, press releases, and research prepared by others. Fundamental analysis utilizes economic and business indicators as investment selection criteria. These criteria are generally ratios and trends that may indicate the overall strength and financial viability of the entity being analyzed. Assets are deemed suitable if they meet certain criteria to indicate that they are a strong investment with a value discounted by the market. While this type of analysis helps the Advisor in evaluating a potential investment, it does not guarantee that the investment will increase in value. Assets meeting the investment criteria utilized in the fundamental analysis may lose value and may have negative investment performance. The Advisor monitors these economic indicators to determine if adjustments to strategic allocations are appropriate. More details on the Advisor’s review process are included below in Item 13 – Review of Accounts. As noted above, AFG generally employs a long-term investment strategy for its Clients, as consistent with their financial goals. AFG will typically hold all or a portion of a security for more than a year but may hold for shorter periods for the purpose of rebalancing a portfolio or meeting the cash needs of Clients. At times, AFG may also buy and sell positions that are more short-term in nature, depending on the goals of the Client and/or the fundamentals of the security, sector, or asset class. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 9  B. Risk of Loss Investing in securities involves certain investment risks. Securities may fluctuate in value or lose value. Clients should be prepared to bear the potential risk of loss. AFG will assist Clients in determining an appropriate strategy based on their tolerance for risk and other factors noted above. However, there is no guarantee that a Client will meet their investment goals. While the methods of analysis help the Advisor in evaluating a potential investment, it does not guarantee that the investment will increase in value. Assets meeting the investment criteria utilized in these methods of analysis may lose value and may have negative investment performance. The Advisor monitors these economic indicators to determine if adjustments to strategic allocations are appropriate. More details on the Advisor’s review process are included below in Item 13 – Review of Accounts. Each Client engagement will entail a review of the Client’s investment goals, financial situation, time horizon, tolerance for risk, and other factors to develop an appropriate strategy for managing a Client’s account. Client participation in this process, including full and accurate disclosure of requested information, is essential for the analysis of a Client’s account[s]. The Advisor shall rely on financial and other information provided by the Client or their designees without the duty or obligation to validate the accuracy and completeness of the provided information. It is the responsibility of the Client to inform the Advisor of any changes in financial condition, goals, or other factors that may affect this analysis. The risks associated with a particular strategy are provided to each Client in advance of investing Client accounts. The Advisor will work with each Client to determine their tolerance for risk as part of the portfolio construction process. Following are some of the risks associated with the Advisor’s investment approach: Market Risks The value of a Client’s holdings may fluctuate in response to events specific to companies or markets, as well as economic, political, or social events in the U.S. and abroad. This risk is linked to the performance of the overall financial markets. Mutual Fund Risks The performance of mutual funds is subject to market risk, including the possible loss of principal. The price of the mutual funds will fluctuate with the value of the underlying securities that make up the funds. The price of a mutual fund is typically set daily therefore, a mutual fund purchased at one point in the day will typically have the same price as a mutual fund purchased later that same day. Margin Borrowings The use of short-term margin borrowings may result in certain additional risks to a Client. For example, if securities pledged to brokers to secure a Client’s margin accounts decline in value, the Client could be subject to a “margin call” pursuant to which it must either deposit additional funds with the broker or be the subject of mandatory liquidation of the pledged securities to compensate for the decline in value. Bond Risks Bonds are subject to specific risks, including the following: (1) interest rate risks, i.e. the risk that bond prices will fall if interest rates rise, and vice versa, the risk depends on two things, the bond's time to maturity, and the coupon rate of the bond. (2) reinvestment risk, i.e. the risk that any profit gained must be reinvested at a lower rate than was previously being earned, (3) inflation risk, i.e. the risk that the cost of living and inflation increase at a rate that exceeds the income investment thereby decreasing the investor’s rate of return, (4) credit default risk, i.e. the risk associated with purchasing a debt instrument which includes the possibility of the company defaulting on its repayment obligation, (5) rating downgrades, i.e. the risk associated with a rating agency’s downgrade of the company’s rating which impacts the investor’s confidence in the company’s ability to repay its debt and (6) Liquidity Risks, i.e. the risk that a bond may not be sold as quickly as there is no readily available market for the bond. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 10  Options Contracts Investments in options contracts have the risk of losing value in a relatively short period of time. Option contracts are leveraged instruments that allow the holder of a single contract to control many shares of an underlying stock. This leverage can compound gains or losses. Leveraged and Inverse ETFs Leveraged and Inverse ETFs are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk, consequences of seeking daily leveraged investment results and intend to actively monitor and manage their investments. Leveraged ETFs are not designed to track the underlying index over periods longer than one trading day. The use of leverage increases the level of investment risk. Leverage will magnify gains or losses on those investments. Inverse ETFs lose value when the underlying investments rise in value. The investments have the risk of not meeting their stated daily investment objectives over a long-term period. Cryptocurrency ETF Risks Cryptocurrency ETFs are investment vehicles designed to provide exposure to the price movements of cryptocurrencies or cryptocurrency-related assets through exchange-listed securities. Cryptocurrencies and cryptocurrency-related markets are highly volatile. Prices may fluctuate dramatically over short periods of time due to factors including, but not limited to, market sentiment, technological developments, macroeconomic events, regulatory actions, and changes in liquidity. As a result, Cryptocurrency ETFs may experience rapid and substantial losses. A Cryptocurrency ETF’s performance may differ materially from the crypto market exposure it seeks to provide due to fees and expenses, portfolio construction and rebalancing, and the use of derivatives, and during periods of market stress liquidity may decline, bid-ask spreads may widen, shares may trade above or below the value of underlying holdings, and trading may be halted or limited, which may prevent buying or selling at desired times or prices. Past performance is not a guarantee of future returns. Investing in securities and other investments involves a risk of loss that each Client should understand and be willing to bear. Clients are reminded to discuss these risks with the Advisor. Item 9 – Disciplinary Information There are no legal, regulatory, or disciplinary events involving AFG or its owner. AFG values the trust Clients place in the Advisor. The Advisor encourages Clients to perform the requisite due diligence on any advisor or service provider with whom the Client engages. The backgrounds of the Advisor and its Advisory Persons are available on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with the Advisor’s firm name or CRD# 309943. Item 10 – Other Financial Industry Activities and Affiliations Broker-Dealer Affiliation Advisory Persons are also Registered Representatives of PKS conducting business under the name AFG. In one’s separate capacity as a Registered Representative, an Advisory Person will receive commissions for the implementation of recommendations for commissionable transactions. Clients are not obligated to implement any recommendation provided by an Advisory Person in their separate capacity. Neither AFG nor an Advisory Person will earn ongoing investment advisory fees in connection with any services implemented in one’s separate capacity as a Registered Representative. Under supervision by PKS, PKS may have access to certain confidential information of the Client, including but not limited to financial information, investment objectives, transactions, and holdings information. Insurance Agency Affiliations As noted in Item 5, certain Advisory Persons are licensed insurance professionals. Implementations of insurance recommendations are separate and apart from one’s role with the Advisor. As an insurance professional, the Advisory Person will receive customary commissions and other related revenues from the various insurance companies whose products are sold. Advisory Persons are not required to offer the products of any particular insurance company. Commissions generated by insurance sales do not offset investment AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 11  advisory fees. This presents a conflict of interest in recommending certain products of the insurance companies. Clients are under no obligation to implement any recommendations made by the Advisor or Advisory Persons. Item 11 – Code of Ethics, Participation or Interest in Client Transactions, and Personal Trading A. Code of Ethics AFG has implemented a Code of Ethics (the “Code”) that defines the Advisor’s fiduciary commitment to each Client. This Code applies to all persons associated with AFG (“Supervised Persons”). The Code was developed to provide general ethical guidelines and specific instructions regarding AFG’s duties to each Client. AFG and its Supervised Persons owe a duty of loyalty, fairness, and good faith towards each Client. It is the obligation of AFG associates to adhere not only to the specific provisions of the Code but also to the general principles that guide the Code. The Code covers a range of topics that address ethics and conflicts of interest. To request a copy of the Code, please contact the Advisor at (781) 741-2540. B. Personal Trading with Material Interest AFG allows Supervised Persons to purchase or sell the same securities that may be recommended to and purchased on behalf of Clients. AFG does not act as principal in any transactions. In addition, the Advisor does not act as the general partner of a fund or advise an investment company. AFG does not have a material interest in any securities traded in Client accounts. C. Personal Trading in Same Securities as Clients AFG allows Supervised Persons to purchase or sell the same securities that may be recommended to and purchased on behalf of Clients. Owning the same securities AFG recommends (purchase or sell) to Clients presents a conflict of interest that, as fiduciaries, AFG must disclose to Clients and mitigate through policies and procedures. As noted above, the Advisor has adopted a Code of Ethics, which addresses insider trading (material non-public information controls) and personal securities reporting procedures. When trading for personal accounts, employees of AFG have a conflict of interest if trading in the same securities. The fiduciary duty to act in the best interest of its Clients can be violated if personal trades are made with more advantageous terms than Client trades or by trading based on material non-public information. This risk is mitigated by AFG requiring reporting of personal securities trades by its Supervised Persons for review by the Chief Compliance Officer (“CCO”) or delegate. The Advisor has also adopted written policies and procedures to detect the misuse of material, non-public information. D. Personal Trading at Same Time as Client While AFG allows Supervised Persons to purchase or sell the same securities that may be recommended to and purchased on behalf of Clients, such trades are typically aggregated with Client orders or traded afterward. At no time will any associated person of AFG transact in any security to the detriment of any Client. Item 12 – Brokerage Practices A. Recommendation of Custodian[s] AFG does not have discretionary authority to select the broker-dealer/custodian for custody and execution services. The Client will engage the broker-dealer/custodian (herein the “Custodian”) to safeguard Client assets and authorize AFG to direct trades to the Custodian as agreed upon in the investment advisory agreement. Further, AFG does not have the discretionary authority to negotiate commissions on behalf of Clients on a trade- by-trade basis. Where AFG does not exercise discretion over the selection of the Custodian, it may recommend the Custodian to clients for custody and execution services. Clients are not obligated to use the recommended Custodian and will not incur any extra fee or cost from the Advisor associated with using a custodian not recommended by AFG. However, the Advisor may be limited in the services it can provide if the recommended Custodian is not engaged. AFG may recommend the Custodian based on criteria such as, but not limited to, the reasonableness of commissions charged to the Client, services made available to the Client, its reputation, and/or the location of the Custodian’s offices. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 12  AFG will generally recommend that Clients establish their account[s] at Fidelity Clearing and Custody Solutions and related divisions and entities of Fidelity Investments, Inc., including National Financial Services, LLC and Fidelity Brokerage Services, LLC (collectively “Fidelity”), a FINRA-registered broker-dealer and member SIPC. Fidelity will serve as the Client’s “qualified custodian.” AFG maintains an institutional relationship with Fidelity, whereby the Advisor receives economic benefits from Fidelity. AFG has established an institutional relationship with Fidelity to assist the Advisor in managing Client account[s]. Access to the Fidelity platform is provided at no charge to the Advisor. The Fidelity platform includes brokerage, custody, administrative support, record keeping, technology, and related services designed to support registered investment advisors like AFG in serving Clients. These services are intended to serve the best interests of the Advisor’s Clients. Fidelity may charge brokerage commissions (securities transaction fees) for effecting certain securities transactions. Fidelity enables the Advisor to obtain certain no-load mutual funds without securities transaction fees and other no-load funds at nominal transaction charges. Fidelity’s commission rates are generally considered discounted from customary retail commission rates. However, the commissions and transaction fees charged by Fidelity may be higher or lower than those charged by other custodians and broker-dealers. Please see Item 14 below for additional information. Following are additional details regarding the brokerage practices of the Advisor: 1. Soft Dollars – Soft dollars are revenue programs offered by broker-dealers/custodians whereby an advisor enters into an agreement to place security trades with a broker-dealer/custodian in exchange for research and other services. AFG does not participate in soft dollar programs sponsored or offered by any broker-dealer/custodian. However, the Advisor receives certain economic benefits from the Custodian. Please see Item 14 below. 2. Brokerage Referrals – AFG does not receive any compensation from any third party in connection with the recommendation for establishing an account. 3. Directed Brokerage – All Clients are serviced on a “directed brokerage basis,” where AFG will place trades within the established account[s] at the Custodian designated by the Client. Further, all Client accounts are traded within their respective account[s]. The Advisor will not engage in any principal transactions (i.e., trade of any security from or to the Advisor’s own account) or cross transactions with other Client accounts (i.e., purchase of a security into one Client account from another Client’s account[s]). AFG will not be obligated to select competitive bids on securities transactions and does not have an obligation to seek the lowest available transaction costs. These costs are determined by the Custodian. Clients. Please also see Item 14. B. Aggregating and Allocating Trades The primary objective in placing orders for the purchase and sale of securities for Client accounts is to obtain the most favorable net results taking into account such factors as 1) price, 2) size of the order, 3) difficulty of execution, 4) confidentiality and 5) skill required of the Custodian. AFG will execute its transactions through the Custodian. AFG may aggregate orders in a block trade or trades when securities are purchased or sold through the Custodian for multiple (discretionary) accounts. If a block trade cannot be executed in full at the same price or time, the securities actually purchased or sold by the close of each business day must be allocated in a manner that is consistent with the initial pre-allocation or other written statement. This must be done in a way that does not consistently advantage or disadvantage particular Client accounts. Item 13 – Review of Accounts A. Frequency of Reviews Securities in Client accounts are monitored on a regular and continuous basis by Advisory Persons of AFG and periodically by Brian Kenney, the CCO. Formal reviews are generally conducted at least annually or more AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 13  frequently depending on the needs of the Client. Clients are offered an annual financial plan, subject to the scope of their agreement with the Advisor. B. Causes for Reviews In addition to the investment monitoring noted in Item 13.A., each Client account shall be reviewed at least annually. Reviews may be conducted more or less frequently at the Client’s request. Accounts may be reviewed as a result of major changes in economic conditions, known changes in the Client’s financial situation, and/or large deposits or withdrawals in the Client’s account[s]. The Client is encouraged to notify AFG if changes occur in the Client’s personal financial situation that might adversely affect the Client’s investment plan. Additional reviews may be triggered by material market, economic or political events. C. Review Reports The Client will receive brokerage statements no less than quarterly from the Custodian. These brokerage statements are sent directly from the Custodian to the Client. The Client may also establish electronic access to the Custodian’s website so that the Client may view these reports and their account activity. Client brokerage statements will include all positions, transactions, and fees relating to the Client’s account[s]. The Advisor may also provide Clients with periodic reports regarding their holdings, allocations, and performance. Item 14 – Client Referrals and Other Compensation A. Compensation Received by AFG AFG may refer Clients to various third parties to provide certain financial services necessary to meet the goals of its Clients. Likewise, AFG may receive referrals of new Clients from a third party. However, AFG and certain Supervised Persons do receive compensation and other economic benefits from PKS as detailed in Item 10 above. Participation in Institutional Advisor Platform As noted in Item 12, AFG has established an institutional relationship with Fidelity to assist the Advisor in managing Client account[s]. As part of the arrangement, Fidelity also makes available to the Advisor, at no additional charge to the Advisor, certain research and brokerage services, including research services obtained by Fidelity directly from independent research companies. The Advisor may also receive additional services and support from Fidelity. As a result of receiving such services for no additional cost, the Advisor may have an incentive to continue to use or expand the use of Fidelity’s services. The Advisor examined this potential conflict of interest when it chose to enter into the relationship with Fidelity and has determined that the relationship is in the best interests of the Advisor’s Clients and satisfies its Client obligations, including its duty to seek best execution. Please see Item 12 above. The Advisor receives access to software and related support without cost because the Advisor renders investment management services to Clients that maintain assets at Fidelity. The software and related systems support may benefit the Advisor, but not its Clients directly. In fulfilling its duties to its Clients, the Advisor endeavors at all times to put the interests of its Clients first. Clients should be aware, however, that the receipt of economic benefits from a Custodian creates a conflict of interest since these benefits may influence the Advisor’s recommendation of this Custodian over one that does not furnish similar software, systems support, or services. In addition, Fidelity has provided the Advisor with financial support in the launch of the Advisor and reimbursements for various third-party service providers. B. Client Referrals from Promoters The Advisor does not compensate, either directly or indirectly, any persons who are not supervised persons, for Client referrals. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 14  Item 15 – Custody The Advisor is authorized to deduct its fees from the Client’s account[s] at the Custodian. The Client must place all assets with a “qualified custodian”. The Client is required to engage the Custodian to retain all funds and securities and direct the Advisor to utilize that Custodian for security transactions in the account[s]. The Client should review statements provided by the Custodian, as the Custodian does not perform this review. For more information about custodians and brokerage practices, see Item 12 – Brokerage Practices. If the Client gives the Advisor authority to move money from one account to another account, the Advisor may have custody of those assets. In order to avoid additional regulatory requirements, the Custodian and the Advisor have adopted safeguards to ensure that the money movements are completed in accordance with the Client’s instructions. Item 16 – Investment Discretion AFG generally has discretion over the selection and amount of securities to be bought or sold in Client accounts without obtaining prior consent or approval from the Client. However, these purchases or sales may be subject to specified investment objectives, guidelines, or limitations previously set forth by the Client and agreed to by AFG. Discretionary authority will only be authorized upon full disclosure to the Client. The granting of such authority will be evidenced by the Client’s execution of an Investment Advisory Agreement containing all applicable limitations to such authority. All discretionary trades made by AFG will be in accordance with each Client’s investment objectives and goals Item 17 – Voting Client Securities AFG does not accept proxy-voting responsibility for any Client. Clients will receive proxy statements directly from the Custodian. The Advisor will assist in answering questions relating to proxies, however, the Client retains the sole responsibility for proxy decisions and voting. Item 18 – Financial Information Neither AFG nor its management has any adverse financial situations that would reasonably impair the ability of AFG to meet all obligations to its Clients. Neither AFG nor any of its advisory persons have been subject to a bankruptcy or financial compromise. AFG is not required to deliver a balance sheet along with this Disclosure Brochure as the Advisor does not collect fees of $1,200 or more for services to be performed six months or more in advance. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 15  F I D U C I A R Y S E R V I C E S F I D U C I A R Y S E R V I C E S AFG Fiduciary Services Limited Partnership Form ADV Part 2A – Appendix 1 (“Wrap Fee Program Brochure”) Effective: March 5, 2026 This Form ADV2A – Appendix 1 (“Wrap Fee Program Brochure”) provides information about the qualifications and business practices for AFG Fiduciary Services Limited Partnership (“AFG” or the “Advisor”) services when offering services pursuant to a wrap program. This Wrap Fee Program Brochure shall always be accompanied by the AFG Disclosure Brochure, which provides complete details on the business practices of the Advisor. If you did not receive the complete AFG Disclosure Brochure or you have any questions about the contents of this Wrap Fee Program Brochure or the AFG Disclosure Brochure, please contact the Advisor at (781) 741-2540. AFG is a registered investment advisor with the U.S. Securities and Exchange Commission (“SEC”). The information in this Wrap Fee Program Brochure has not been approved or verified by the SEC or by any state securities authority. Registration of an investment advisor does not imply any specific level of skill or training. This Wrap Fee Program Brochure provides information about AFG to assist you in determining whether to retain the Advisor. Additional information about AFG and its advisory persons is available on the SEC’s website at www.adviserinfo.sec.gov by searching for the Advisor’s firm name or CRD# 309943. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 16  Item 2 – Material Changes Form ADV 2A – Appendix 1 provides information about a variety of topics relating to an Advisor’s business practices and conflicts of interest. In particular, this Wrap Fee Program Brochure discusses the Wrap Fee Program offering of the Advisor. Material Changes There have been no material changes to this Disclosure Brochure since the last annual amendment filing on February 13th, 2025. Future Changes From time to time, we may amend this Wrap Fee Program Brochure to reflect changes in our business practices, changes in regulations, and routine annual updates as required by the securities regulators. This complete Wrap Fee Program Brochure (along with the complete AFG Disclosure Brochure) or a Summary of Material Changes shall be provided to each Client annually and if a material change occurs in the business practices of AFG. At any time, you may view this Wrap Fee Program Brochure and the current Disclosure Brochure online at the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching for the Advisor’s firm name or CRD# 309943. You may also request a copy of this Disclosure Brochure at any time by contacting the Advisor at (781) 741-2540. Item 3 – Table of Contents Form ADV Part 2A – Appendix 1 ............................................................................................................... 16 Item 2 – Material Changes .......................................................................................................................... 17 Item 3 – Table of Contents ......................................................................................................................... 17 Item 4 – Services Fees and Compensation .............................................................................................. 18 Item 5 – Account Requirements and Types of Clients ............................................................................ 19 Item 6 – Portfolio Manager Selection and Evaluation ............................................................................. 19 Item 7 – Client Information Provided to Portfolio Managers .................................................................. 21 Item 8 – Client Contact with Portfolio Managers ..................................................................................... 21 Item 9 – Additional Information ................................................................................................................. 21 AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 17  Item 4 – Services Fees and Compensation A. Services AFG Fiduciary Services Limited Partnership (“AFG,” or the “Advisor”) provides customized investment advisory services for its Clients. This Wrap Fee Program Brochure is provided as a supplement to the AFG Disclosure Brochure (Form ADV 2A). This Wrap Fee Program Brochure is provided along with the complete Disclosure Brochure to provide full details of the business practices and fees when selecting AFG as your investment advisor. As part of the wealth management fees noted in Item 5 of the Disclosure Brochure, AFG includes normal securities transaction fees, custody fees, commission fees, administrative fees, third party service fees, and other investment costs (herein “Covered Costs’) as part of the overall investment advisory fee. Securities regulations often refer to this combined fee structure as a “Wrap Fee Program.” The Advisor’s recommended Custodian does not charge securities transaction fees for exchange-traded funds (“ETFs”) and equity trades in Client accounts but typically charges for mutual funds and other types of investments. The Advisor sponsors AFG Wrap Fee Program. The primary purpose of this Wrap Fee Program Brochure is to provide additional disclosure relating to the combination of securities transaction fees into the single “bundled” wealth management fee. This Wrap Fee Program Brochure references back to the AFG Disclosure Brochure in which this Wrap Fee Program Brochure serves as an Appendix. Please see Item 4 – Advisory Services of the Disclosure Brochure for details on AFG’s investment philosophy and related services. B. Program Costs Advisory services provided by AFG are offered in a wrap fee structure whereby Covered Costs are included in the overall wealth management fee paid to AFG. As the level of activity in a Client’s account[s] may vary from year to year, the annual cost to the Client may be more or less than engaging for advisory services where the Covered Costs are borne separately by the Client. The cost of the Wrap Fee Program varies depending on services to be provided to each Client; however, the Client is not charged more if there is higher trading activity or other Covered Costs. A Wrap Fee structure presents a conflict of interest as the Advisor is incentivized to limit the number of trades placed in the Client’s account[s] or to utilize securities that do not have transaction fees. As noted above, the Advisor’s recommended Custodian does not charge securities transaction fees for ETFs and equity trades in Client accounts but typically charges for mutual funds and other types of investments. As such, the Advisor is incentivized to utilize ETFs and other equity securities to limit the overall cost to the Advisor. The Advisor will only place Client assets into a Wrap Fee Program when it is believed to be in the Client’s best interest. Please see Item 5 – Fees and Compensation of the Disclosure Brochure for complete details on fees. C. Fees Wealth Management Services Wealth management fees are paid monthly, in advance of each month, pursuant to the terms of the wealth management agreement. Wealth management fees are based on the market value of assets under management at the end of the prior month. Wealth management fees range from 0.50% to 1.50% annually based on several factors, including the scope and complexity of the services to be provided, the level of assets to be managed, and the overall relationship with the Advisor. Relationships with multiple objectives, specific reporting requirements, portfolio restrictions, and other complexities may be charged a higher fee. The wealth management fee in the first month of service is prorated from the inception date of the account[s] to the end of the first month. Fees may be negotiable at the sole discretion of the Advisor. The Client’s fees will take into consideration the aggregate assets under management with the Advisor. All securities held in accounts managed by AFG will be independently valued by the Custodian. AFG will conduct periodic reviews of the Custodian’s valuations. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 18  As noted above, the Wrap Fee Program includes Covered Costs incurred in connection with the discretionary investment management services provided by AFG as part of its overall wealth management fee. Clients may incur certain fees or charges imposed by third parties in connection with investments made on behalf of the Client’s account[s]. Under this Wrap Fee Program, AFG includes securities transaction costs as part of its overall investment advisory fee. In addition, all fees paid to AFG for wealth management services or part of the Wrap Fee Program are separate and distinct from the expenses charged by mutual funds and ETFs to their shareholders, if applicable. These fees and expenses are described in each fund’s prospectus. These fees and expenses will generally be used to pay management fees for the funds, other fund expenses, account administration (e.g., custody, brokerage, and account reporting), and a possible distribution fee. Securities transaction fees for Client-directed trades will be charged back to the Client. In connection with the discretionary investment management services provided by AFG, the Client will incur other costs assessed by the Custodian or other third parties other than the Covered Costs noted above, such as wire transfer fees, fees for trades executed away from the Custodian, and other fees. The Advisor does not control nor share in these fees. The Client should review both the fees charged by the fund[s] and the fees charged by AFG to fully understand the total fees to be paid. Please see Item 5.C. – Other Fees and Expenses in the Disclosure Brochure (included with this Wrap Fee Program D. Compensation AFG is the sponsor and portfolio manager of this Wrap Fee Program. AFG receives wealth management fees paid by Clients for participating in the Wrap Fee Program and pays the Custodian for the costs associated with the normal trading activity in the Client’s account[s]. Item 5 – Account Requirements and Types of Clients AFG offers investment advisory services to individuals, high net worth individuals, families, trusts, estates, businesses, and retirement plans. AFG generally does not impose a minimum account size for establishing a relationship. Please see Item 7 – Types of Clients in the Disclosure Brochure for additional information. Item 6 – Portfolio Manager Selection and Evaluation Portfolio Manager Selection AFG serves as sponsor and as portfolio manager for the services under this Wrap Fee Program. Related Persons AFG personnel serve as portfolio managers for this Wrap Fee Program. AFG does not serve as a portfolio manager for any third-party Wrap Fee Programs. Performance-Based Fees AFG does not charge performance-based fees for its investment advisory services. The fees charged by AFG are as described in Item 5 above and are not based upon the capital appreciation of the funds or securities held by any Client. AFG does not manage any proprietary investment funds or limited partnerships (for example, a mutual fund or a hedge fund) and has no financial incentive to recommend any particular investment options to its Clients. Supervised Persons AFG Advisory Persons serve as portfolio managers for all accounts, including the services described in this Wrap Fee Program Brochure. Details of the advisory services provided are included in Item 4.A. of the Disclosure Brochure. Methods of Analysis Please see Item 8 of the Disclosure Brochure (included with this Wrap Fee Program Brochure) for details on the research and analysis methods employed by the Advisor. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 19  Risk of Loss Investing in securities involves certain investment risks. Securities may fluctuate in value or lose value. Clients should be prepared to bear the potential risk of loss. AFG will assist Clients in determining an appropriate strategy based on their tolerance for risk and other factors noted above. However, there is no guarantee that a Client will meet their investment goals. While the methods of analysis help the Advisor in evaluating a potential investment, it does not guarantee that the investment will increase in value. Assets meeting the investment criteria utilized in these methods of analysis may lose value and may have negative investment performance. The Advisor monitors these economic indicators to determine if adjustments to strategic allocations are appropriate. More details on the Advisor’s review process are included below in Item 13 – Review of Accounts. Each Client engagement will entail a review of the Client's investment goals, financial situation, time horizon, tolerance for risk, and other factors to develop an appropriate strategy for managing a Client's account. Client participation in this process, including full and accurate disclosure of requested information, is essential for the analysis of a Client's account[s]. The Advisor shall rely on financial and other information provided by the Client or their designees without the duty or obligation to validate the accuracy and completeness of the provided information. It is the responsibility of the Client to inform the Advisor of any changes in financial condition, goals, or other factors that may affect this analysis. The risks associated with a particular strategy are provided to each Client in advance of investing Client accounts. The Advisor will work with each Client to determine their tolerance for risk as part of the portfolio construction process. Following are some of the risks associated with the Advisor’s investment approach: Market Risks The value of a Client’s holdings may fluctuate in response to events specific to companies or markets, as well as economic, political, or social events in the U.S. and abroad. This risk is linked to the performance of the overall financial markets. Mutual Fund Risks The performance of mutual funds is subject to market risk, including the possible loss of principal. The price of the mutual funds will fluctuate with the value of the underlying securities that make up the funds. The price of a mutual fund is typically set daily therefore, a mutual fund purchased at one point in the day will typically have the same price as a mutual fund purchased later that same day. Margin Borrowings The use of short-term margin borrowings may result in certain additional risks to a Client. For example, if securities pledged to brokers to secure a Client's margin accounts decline in value, the Client could be subject to a "margin call" pursuant to which it must either deposit additional funds with the broker or be the subject of mandatory liquidation of the pledged securities to compensate for the decline in value. Options Contracts Investments in options contracts have the risk of losing value in a relatively short period of time. Option contracts are leveraged instruments that allow the holder of a single contract to control many shares of an underlying stock. This leverage can compound gains or losses. Leveraged and Inverse ETFs Leveraged and Inverse ETFs are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk, consequences of seeking daily leveraged investment results and intend to actively monitor and manage their investments. Leveraged ETFs are not designed to track the underlying index over periods longer than one trading day. The use of leverage increases the level of investment risk. Leverage will magnify gains or losses on those investments. Inverse ETFs lose value when the underlying investments rise in value. The investments have the risk of not meeting their stated daily investment objectives over a long-term period. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 20  Cryptocurrency ETF Risks Cryptocurrency ETFs are investment vehicles designed to provide exposure to the price movements of cryptocurrencies or cryptocurrency-related assets through exchange-listed securities. Cryptocurrencies and cryptocurrency-related markets are highly volatile. Prices may fluctuate dramatically over short periods of time due to factors including, but not limited to, market sentiment, technological developments, macroeconomic events, regulatory actions, and changes in liquidity. As a result, Cryptocurrency ETFs may experience rapid and substantial losses. A Cryptocurrency ETF’s performance may differ materially from the crypto market exposure it seeks to provide due to fees and expenses, portfolio construction and rebalancing, and the use of derivatives, and during periods of market stress liquidity may decline, bid-ask spreads may widen, shares may trade above or below the value of underlying holdings, and trading may be halted or limited, which may prevent buying or selling at desired times or prices. Past performance is not a guarantee of future returns. Investing in securities and other investments involves a risk of loss that each Client should understand and be willing to bear. Clients are reminded to discuss these risks with the Advisor. Proxy Voting AFG does not accept proxy-voting responsibility for any Client. Clients will receive proxy statements directly from the Custodian. The Advisor will assist in answering questions relating to proxies, however, the Client retains the sole responsibility for proxy decisions and voting. Item 7 – Client Information Provided to Portfolio Managers AFG is the sponsor and sole portfolio manager for the Program. The Advisor does not share Client information with other portfolio managers because it is the sole portfolio manager for this Wrap Fee Program. Please also see the AFG Privacy Policy (included after this Wrap Fee Program Brochure). Item 8 – Client Contact with Portfolio Managers AFG is a full-service investment management advisory firm. Clients always have direct access to the Portfolio Managers at AFG. Item 9 – Additional Information A. Disciplinary Information and Other Financial Industry Activities and Affiliations There are no legal, regulatory, or disciplinary events involving AFG or its owner. AFG values the trust Clients place in the Advisor. The Advisor encourages Clients to perform the requisite due diligence on any advisor or service provider with whom the Client engages. The backgrounds of the Advisor and its Advisory Persons are available on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with the Advisor’s firm name or CRD# 309943. Please see Item 9 of the AFG Disclosure Brochure as well as Item 3 of each Advisory Person’s Brochure Supplement (included with this Wrap Fee Program Brochure) for additional information on how to research the background of the Advisor and its Advisory Persons. Other Financial Activities and Affiliations Broker-Dealer Affiliation Advisory Persons are also Registered Representatives of PKS conducting business under the name AFG. In one’s separate capacity as a Registered Representative, an Advisory Person will receive commissions for the implementation of recommendations for commissionable transactions. Clients are not obligated to implement any recommendation provided by an Advisory Person in their separate capacity. Neither AFG nor an Advisory Person will earn ongoing investment advisory fees in connection with any services implemented in one’s separate capacity as a Registered Representative. Under supervision by PKS, PKS may have access to certain confidential information of the Client, including but not limited to financial information, investment objectives, transactions, and holdings information. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 21  Insurance Agency Affiliations As noted in Item 5 of the Disclosure Brochure, certain Advisory Persons are licensed insurance professionals. Implementations of insurance recommendations are separate and apart from one’s role with the Advisor. As an insurance professional, the Advisory Person will receive customary commissions and other related revenues from the various insurance companies whose products are sold. Advisory Persons are not required to offer the products of any particular insurance company. Commissions generated by insurance sales do not offset investment advisory fees. This presents a conflict of interest in recommending certain products of the insurance companies. Clients are under no obligation to implement any recommendations made by the Advisor or Advisory Persons. B. Code of Ethics, Review of Accounts, Client Referrals, and Financial Information AFG has implemented a Code of Ethics that defines our fiduciary commitment to each Client. This Code of Ethics applies to all persons subject to AFG’s compliance program (our “Supervised Persons”). Complete details on the AFG Code of Ethics can be found under Item 11 – Code of Ethics, Participation in Client Transactions and Personal Trading in the Disclosure Brochure (included with this Wrap Fee Program Brochure). Review of Accounts Investments in Client accounts are monitored on a regular and continuous basis by Advisory Persons of AFG under the supervision of the Chief Compliance Officer (“CCO”). Details of the review policies and practices are provided in Item 13 of the Form ADV Part 2A – Disclosure Brochure. Other Compensation Participation in Institutional Advisor Platform AFG will generally recommend that Clients establish their account[s] at Fidelity Clearing and Custody Solutions and related divisions and entities of Fidelity Investments, Inc., including National Financial Services, LLC and Fidelity Brokerage Services, LLC (collectively “Fidelity”), a FINRA-registered broker-dealer and member SIPC. Fidelity will serve as the Client’s “qualified custodian.” AFG maintains an institutional relationship with Fidelity, whereby the Advisor receives economic benefits from Fidelity. AFG has established an institutional relationship with Fidelity to assist the Advisor in managing Client account[s]. Access to the Fidelity platform is provided at no charge to the Advisor. The Fidelity platform includes brokerage, custody, administrative support, record keeping, technology, and related services designed to support registered investment advisors like AFG in serving Clients. These services are intended to serve the best interests of the Advisor’s Clients. As part of the arrangement, Fidelity also makes available to the Advisor, at no additional charge to the Advisor, certain research and brokerage services, including research services obtained by Fidelity directly from independent research companies. The Advisor may also receive additional services and support from Fidelity. As a result of receiving such services for no additional cost, the Advisor may have an incentive to continue to use or expand the use of Fidelity's services. The Advisor examined this potential conflict of interest when it chose to enter into the relationship with Fidelity and has determined that the relationship is in the best interests of the Advisor’s Clients and satisfies its Client obligations, including its duty to seek best execution. Please see Item 12 above. The Advisor receives access to software and related support without cost because the Advisor renders investment management services to Clients that maintain assets at Fidelity. The software and related systems support may benefit the Advisor, but not its Clients directly. In fulfilling its duties to its Clients, the Advisor endeavors at all times to put the interests of its Clients first. Clients should be aware, however, that the receipt of economic benefits from a Custodian creates a conflict of interest since these benefits may influence the Advisor's recommendation of this Custodian over one that does not furnish similar software, systems support, or services. In addition, Fidelity has provided the Advisor with financial support in the launch of the Advisor and reimbursements for various third-party service providers. Client Referrals from Promoters The Advisor does not compensate, either directly or indirectly, any persons who are not supervised persons, for Client referrals. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 22  Financial Information Neither AFG nor its management has any adverse financial situations that would reasonably impair the ability of AFG to meet all obligations to its Clients. Neither AFG nor any of its advisory persons have been subject to a bankruptcy or financial compromise. AFG is not required to deliver a balance sheet along with this Disclosure Brochure as the Advisor does not collect fees of $1,200 or more for services to be performed six months or more in advance. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 23  F I D U C I A R Y S E R V I C E S F I D U C I A R Y S E R V I C E S Form ADV Part 2B – Brochure Supplement for Brian M. Kenney Principal and Chief Compliance Officer Effective: March 5, 2026 This Form ADV 2B (“Brochure Supplement”) provides information about the background and qualifications of Brian M. Kenney (CRD# 1694580) in addition to the information contained in the AFG Fiduciary Services Limited Partnership (“AFG” or the “Advisor,” CRD# 309943) Disclosure Brochure. If you have not received a copy of the Disclosure Brochure or if you have any questions about the contents of the AFG Disclosure Brochure or this Brochure Supplement, please contact the Advisor at (781) 741-2540. Additional information about Mr. Kenney is available on the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with his full name or individual CRD# 1694580. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 24  Item 2 – Educational Background and Business Experience Brian M. Kenney, born in 1964, is dedicated to advising Clients of AFG as its Principal and Chief Compliance Officer. Mr. Kenney earned a Bachelor of Arts degree in Economics from the University of Connecticut in 1986. Additional information regarding Mr. Kenney’s employment history is included below. Employment History: 12/2020 to Present 12/2020 to Present 10/2015 to 12/2020 07/2009 to 10/2015 Principal, AFG Fiduciary Services Limited Partnership Registered Representative, Purshe Kaplan Sterling Investments, Inc. Financial Advisor, Wells Fargo Advisors Financial Network, LLC Financial Advisor, Raymond James Financial Services Advisors, Inc., and Raymond James Financial Services, Inc. Item 3 – Disciplinary Information There are no legal, civil, or disciplinary events to disclose regarding Mr. Kenney. Mr. Kenney has never been involved in any regulatory, civil, or criminal action. There have been no client complaints, lawsuits, arbitration claims, or administrative proceedings against Mr. Kenney. Securities laws require an advisor to disclose any instances where the advisor or its advisory persons have been found liable in a legal, regulatory, civil, or arbitration matter that alleges violation of securities and other statutes; fraud; false statements or omissions; theft, embezzlement, or wrongful taking of property; bribery, forgery, counterfeiting, or extortion; and/or dishonest, unfair, or unethical practices. As previously noted, there are no legal, civil, or disciplinary events to disclose regarding Mr. Kenney. However, the Advisor encourages you to independently view the background of Mr. Kenney on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with his full name or individual CRD# 1694580. Item 4 – Other Business Activities Broker-Dealer Affiliation Mr. Kenney is also a Registered Representative of Purshe Kaplan Sterling Investments, Inc. (“PKS”). PKS is a registered broker-dealer (CRD# 35747), member FINRA, SIPC. In Mr. Kenney’s separate capacity as a Registered Representative, Mr. Kenney will receive commissions for the implementation of recommendations for commissionable transactions. Clients are not obligated to implement any recommendation provided by Mr. Kenney. Neither the Advisor nor Mr. Kenney will earn ongoing investment advisory fees in connection with any products or services implemented in Mr. Kenney’s separate capacity as a Registered Representative. Mr. Kenney spends less than 10% of his time per month in his role as a Registered Representative of PKS. Insurance Agency Affiliations Mr. Kenney is also a licensed insurance professional. Implementations of insurance recommendations are separate and apart from Mr. Kenney’s role with AFG. As an insurance professional, Mr. Kenney will receive customary commissions and other related revenues from the various insurance companies whose products are sold. Mr. Kenney is not required to offer the products of any particular insurance company. Commissions generated by insurance sales do not offset regular advisory fees. This practice presents a conflict of interest in recommending certain products of the insurance companies. Clients are under no obligation to implement any recommendations made by Mr. Kenney or the Advisor. Mr. Kenney spends less than 10% of his time per month in this capacity. Item 5 – Additional Compensation Mr. Kenney has additional business activities where compensation is received that are detailed in Item 4 above. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 25  Item 6 – Supervision Mr. Kenney serves as the Principal and Chief Compliance Officer of AFG. Mr. Kenney can be reached at (781) 741-2540. AFG has implemented a Code of Ethics, an internal compliance document that guides each Supervised Person in meeting their fiduciary obligations to Clients of AFG. Further, AFG is subject to regulatory oversight by various agencies. These agencies require registration by AFG and its Supervised Persons. As a registered entity, AFG is subject to examinations by regulators, which may be announced or unannounced. AFG is required to periodically update the information provided to these agencies and to provide various reports regarding the business activities and assets of the Advisor. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 26  F I D U C I A R Y S E R V I C E S F I D U C I A R Y S E R V I C E S Form ADV Part 2B – Brochure Supplement for Joseph W. McCarthy, CFP® Financial Advisor Effective: March 5, 2026 This Form ADV 2B (“Brochure Supplement”) provides information about the background and qualifications of Joseph W. McCarthy, CFP® (CRD# 1017415) in addition to the information contained in the AFG Fiduciary Services Limited Partnership (“AFG” or the “Advisor,” CRD# 309943) Disclosure Brochure. If you have not received a copy of the Disclosure Brochure or if you have any questions about the contents of the AFG Disclosure Brochure or this Brochure Supplement, please contact the Advisor at (781) 741-2540. Additional information about Mr. McCarthy is available on the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with his full name or individual CRD# 1017415. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 27  Item 2 – Educational Background and Business Experience Joseph W. McCarthy, CFP®, born in 1958, is dedicated to advising Clients of AFG as a Financial Advisor. Mr. McCarthy earned a Bachelor of Arts from Stonehill College in 1981. Additional information regarding Mr. McCarthy’s employment history is included below. Employment History: 12/2020 to Present 12/2020 to Present 10/2015 to 12/2020 10/2010 to 10/2015 Financial Advisor, AFG Fiduciary Services Limited Partnership Registered Representative, Purshe Kaplan Sterling Investments, Inc. Financial Advisor, Wells Fargo Advisors Financial Network, LLC Financial Advisor, Raymond James Financial Services Advisors, Inc., and Raymond James Financial Services, Inc CERTIFIED FINANCIAL PLANNER® Professional I am certified for financial planning services in the United States by Certified Financial Planner Board of Standards, Inc. (“CFP Board”). Therefore, I may refer to myself as a CERTIFIED FINANCIAL PLANNER® Professional or a CFP® Professional, and I may use these and the other certification marks (the “CFP Board Certification Marks”) that Certified Financial Planner Board of Standards Center for Financial Planning, Inc. has licensed to CFP Board in the United States. The CFP® certification is voluntary. No federal or state law or regulation requires financial planners to hold the CFP® certification. You may find more information about the CFP® certification at www.cfp.net. CFP® Professionals have met CFP Board’s high standards for education, examination, experience, and ethics. To become a CFP® Professional, an individual must fulfill the following requirements: ● Education – Earn a bachelor’s degree or higher from an accredited college or university and complete CFP Board-approved coursework at a college or university through a CFP Board Registered Program. The coursework covers the financial planning subject areas CFP Board has determined are necessary for the competent and professional delivery of financial planning services, as well as a comprehensive financial plan development capstone course. A candidate may satisfy some of the coursework requirement through other qualifying credentials. CFP Board implemented the bachelor’s degree or higher requirement in 2007 and the financial planning development capstone course requirement in March 2012. Therefore, a CFP® Professional who first became certified before those dates may not have earned a bachelor’s or higher degree or completed a financial planning development capstone course. ● Examination – Pass the comprehensive CFP® Certification Examination. The examination is designed to assess an individual’s ability to integrate and apply a broad base of financial planning knowledge in the context of real-life financial planning situations. ● Experience – Complete 6,000 hours of Professional experience related to the personal financial planning process, or 4,000 hours of apprenticeship experience that meets additional requirements. ● Ethics – Satisfy the Fitness Standards for Candidates for CFP® Certification and Former CFP® Professionals Seeking Reinstatement and agree to be bound by CFP Board’s Code of Ethics and Standards of Conduct (“Code and Standards”), which sets forth the ethical and practice standards for CFP® Professionals. Individuals who become certified must complete the following ongoing education and ethics requirements to remain certified and maintain the right to continue to use the CFP Board. Certification Marks: ● Ethics – Commit to complying with CFP Board’s Code and Standards. This includes a commitment to CFP Board, as part of the certification, to act as a fiduciary, and therefore, act in the best interests of the AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 28  Client, at all times when providing financial advice and financial planning. CFP Board may sanction a CFP® Professional who does not abide by this commitment, but CFP Board does not guarantee a CFP® Professional’s service. A Client who seeks a similar commitment should obtain a written engagement that includes a fiduciary obligation to the Client. ● Continuing Education – Complete 30 hours of continuing education every two years to maintain competence, demonstrate specified levels of knowledge, skills, and abilities, and keep up with developments in financial planning. Two of the hours must address the Code and Standards. Item 3 – Disciplinary Information Securities laws require an advisor to disclose any instances where the advisor or its advisory persons have been found liable in a legal, regulatory, civil, or arbitration matter that alleges violation of securities and other statutes; fraud; false statements or omissions; theft, embezzlement, or wrongful taking of property; bribery, forgery, counterfeiting, or extortion; and/or dishonest, unfair, or unethical practices. There are no legal, civil, or disciplinary events requiring disclosure regarding Mr. McCarthy. However, the Advisor encourages you to independently view the background of Mr. McCarthy on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with his full name or individual CRD# 1017415. Item 4 – Other Business Activities Broker-Dealer Affiliation Mr. McCarthy is also a Registered Representative of Purshe Kaplan Sterling Investments, Inc. (“PKS”). PKS is a registered broker-dealer (CRD# 35747), member FINRA, SIPC. In Mr. McCarthy’s separate capacity as a Registered Representative, Mr. McCarthy will receive commissions for the implementation of recommendations for commissionable transactions. Clients are not obligated to implement any recommendation provided by Mr. McCarthy. Neither the Advisor nor Mr. McCarthy will earn ongoing investment advisory fees in connection with any products or services implemented in Mr. McCarthy’s separate capacity as a Registered Representative. Mr. McCarthy spends approximately 10% of his time per month in his role as a Registered Representative of PKS. Insurance Agency Affiliations Mr. McCarthy is also a licensed insurance professional. Implementations of insurance recommendations are separate and apart from Mr. McCarthy’s role with AFG. As an insurance professional, Mr. McCarthy will receive customary commissions and other related revenues from the various insurance companies whose products are sold. Mr. McCarthy is not required to offer the products of any particular insurance company. Commissions generated by insurance sales do not offset regular advisory fees. This practice presents a conflict of interest in recommending certain products of the insurance companies. Clients are under no obligation to implement any recommendations made by Mr. McCarthy or the Advisor. Mr. McCarthy spends approximately 10% of his time per month in this capacity. Item 5 – Additional Compensation Mr. McCarthy has additional business activities where compensation is received that are detailed in Item 4 above. Item 6 – Supervision Mr. McCarthy serves as a Financial Advisor of AFG and is supervised by Brian Kenney, the Chief Compliance Officer. Mr. Kenney can be reached at (781) 741-2540. AFG has implemented a Code of Ethics, an internal compliance document that guides each Supervised Person in meeting their fiduciary obligations to Clients of AFG. Further, AFG is subject to regulatory oversight by various agencies. These agencies require registration by AFG and its Supervised Persons. As a registered entity, AFG AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 29  is subject to examinations by regulators, which may be announced or unannounced. AFG is required to periodically update the information provided to these agencies and to provide various reports regarding the business activities and assets of the Advisor. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 30  F I D U C I A R Y S E R V I C E S F I D U C I A R Y S E R V I C E S Form ADV Part 2B – Brochure Supplement for Susan A. Skahan Registered Operations Manager Effective: March 5, 2026 This Form ADV 2B (“Brochure Supplement”) provides information about the background and qualifications of Susan A. Skahan (CRD# 2388770) in addition to the information contained in the AFG Fiduciary Services Limited Partnership (“AFG” or the “Advisor,” CRD# 309943) Disclosure Brochure. If you have not received a copy of the Disclosure Brochure or if you have any questions about the contents of the AFG Disclosure Brochure or this Brochure Supplement, please contact the Advisor at (781) 741-2540. Additional information about Ms. Skahan is available on the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with her full name or individual CRD# 2388770. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 31  Item 2 – Educational Background and Business Experience Susan A. Skahan, born in 1969, is dedicated to advising Clients of AFG as a Registered Operations Manager. Ms. Skahan earned a Bachelor’s degree from the University of Massachusetts in 1991. Additional information regarding Ms. Skahan’s employment history is included below. Employment History: Registered Operations Manager, AFG Fiduciary Services Limited Partnership Registered Sales Assistant, Purshe Kaplan Sterling Investments, Inc. Registered Representative, Wells Fargo Advisors Financial Network, LLC Registered Sales Assistant, Raymomnd James Financial Services, Inc. 12/2020 to Present 12/2020 to Present 10/2015 to 12/2020 01/2009 to 10/2015 Item 3 – Disciplinary Information There are no legal, civil, or disciplinary events to disclose regarding Ms. Skahan. Ms. Skahan has never been involved in any regulatory, civil, or criminal action. There have been no client complaints, lawsuits, arbitration claims, or administrative proceedings against Ms. Skahan. Securities laws require an advisor to disclose any instances where the advisor or its advisory persons have been found liable in a legal, regulatory, civil, or arbitration matter that alleges violation of securities and other statutes; fraud; false statements or omissions; theft, embezzlement, or wrongful taking of property; bribery, forgery, counterfeiting, or extortion; and/or dishonest, unfair, or unethical practices. As previously noted, there are no legal, civil, or disciplinary events to disclose regarding Ms. Skahan. However, the Advisor encourages you to independently view the background of Ms. Skahan on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with her full name or individual CRD# 2388770. Item 4 – Other Business Activities Broker-Dealer Affiliation Ms. Skahan is also a Registered Sales Assistant (Registered Representative) of Purshe Kaplan Sterling Investments, Inc. (“PKS”). PKS is a registered broker-dealer (CRD# 35747), member FINRA, SIPC. Ms. Skahan spends approximately 10% of her time per month in her role as a Registered Sales Assistant for PKS business. Item 5 – Additional Compensation Ms. Skahan has additional business activities where compensation is received that are detailed in Item 4 above. Item 6 – Supervision Ms. Skahan serves as a Registered Operations Manager of AFG and is supervised by Brian Kenney, the Chief Compliance Officer. Mr. Kenney can be reached at (781) 741-2540. AFG has implemented a Code of Ethics, an internal compliance document that guides each Supervised Person in meeting their fiduciary obligations to Clients of AFG. Further, AFG is subject to regulatory oversight by various agencies. These agencies require registration by AFG and its Supervised Persons. As a registered entity, AFG is subject to examinations by regulators, which may be announced or unannounced. AFG is required to periodically update the information provided to these agencies and to provide various reports regarding the business activities and assets of the Advisor. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 32  Privacy Policy Effective Date: March 5, 2026 Our Commitment to You AFG Fiduciary Services Limited Partnership (“AFG” or the “Advisor”) is committed to safeguarding the use of personal information of our Clients (also referred to as “you” and “your”) that we obtain as your Investment Advisor, as described here in our Privacy Policy (“Policy”). Our relationship with you is our most important asset. We understand that you have entrusted us with your private information, and we do everything that we can to maintain that trust. AFG (also referred to as "we," "our," and "us”) protects the security and confidentiality of the personal information we have and implements controls to ensure that such information is used for proper business purposes in connection with the management or servicing of our relationship with you. AFG does not sell your non-public personal information to anyone. Nor do we provide such information to others except for discrete and reasonable business purposes in connection with the servicing and management of our relationship with you, as discussed below. Details of our approach to privacy and how your personal non-public information is collected and used are set forth in this Policy. Why you need to know? Registered Investment Advisors (“RIAs”) must share some of your personal information in the course of servicing your account. Federal and State laws give you the right to limit some of this sharing and require RIAs to disclose how we collect, share, and protect your personal information. What information do we collect from you? Social security or taxpayer identification number Assets and liabilities Name, address, and phone number[s] Income and expenses E-mail address[es] Investment activity Account information (including other institutions) Investment experience and goals What Information do we collect from other sources? Custody, brokerage, and advisory agreements Other advisory agreements and legal documents Transactional information with us or others Account applications and forms Investment questionnaires and suitability documents Other information needed to service account How do we protect your information? To safeguard your personal information from unauthorized access and use, we maintain physical, procedural, and electronic security measures. These include such safeguards as secure passwords, encrypted file storage, and a secure office environment. Our technology vendors provide security and access control over personal information and have policies over the transmission of data. Our associates are trained on their responsibilities to protect Clients’ personal information. We require third parties that assist in providing our services to you to protect the personal information they receive from us. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 33  How do we share your information? An RIA shares Client personal information to effectively implement its services. In the section below, we list some reasons we may share your personal information. Basis For Sharing Do we share? Can you limit? Yes No No Not Shared Yes Yes No Not Shared Servicing our Clients We may share non-public personal information with non-affiliated third parties (such as administrators, broker-dealers, custodians, regulators, credit agencies, other financial institutions) as necessary for us to provide agreed upon services to you, consistent with applicable law, including but not limited to: processing transactions; general account maintenance; responding to regulators or legal investigations; and credit reporting. AFG shares Client information with Purshe Kaplan Sterling Investments, Inc. (“PKS”) due to the oversight PKS has over certain supervised persons of the Advisor. You may also contact us at any time for a copy of the PKS Privacy Policy. Marketing Purposes AFG does not disclose and does not intend to disclose personal information with non-affiliated third parties to offer you services. Certain laws may give us the right to share your personal information with financial institutions where you are a customer and where AFG or the Client has a formal agreement with the financial institution. We will only share information for purposes of servicing your accounts, not for marketing purposes. Authorized Users Your non-public personal information may be disclosed to you and persons that we believe to be your authorized agent[s] or representative[s]. Information About Former Clients AFG does not disclose and does not intend to disclose non-public personal information to non-affiliated third parties with respect to persons who are no longer our Clients. Changes to our Privacy Policy We will send you a copy of this Policy annually for as long as you maintain an ongoing relationship with us. Periodically we may revise this Policy and will provide you with a revised Policy if the changes materially alter the previous Privacy Policy. We will not, however, revise our Privacy Policy to permit the sharing of non-public personal information other than as described in this notice unless we first notify you and provide you with an opportunity to prevent the information sharing. Any Questions? You may ask questions or voice any concerns, as well as obtain a copy of our current Privacy Policy by contacting us at (781) 741-2540. AFG Fiduciary Services Limited Partnership Primary Office: 2 Essington Drive, Hingham, MA 02043 Phone: (781) 741-2540 | Fax: (781) 741-2541 www.afgfiduciary.com Page 34