Armor Investment Advisors, LLC

Item 1 – Cover Page Armor Investment Advisors, LLC 4101 Lake Boone Trail, Suite 208 Raleigh, NC 27607 919-571-4382 www.armorinvestmentadvisors.com April 23, 2026 This Brochure provides information about the qualifications and business practices of Armor Investment Advisors, LLC (“Armor”). If you have any questions about the contents of this Brochure, you may reach us at 919-571-4382 or contact_us@armorinvestmentadvisors.com. The information in this Brochure has not been approved or verified by the United States Securities and Exchange Commission or by any state securities authority. Armor Investment Advisors, LLC is a registered investment adviser. Registration of an Investment Adviser does not imply any particular level of skill or training. The oral and written communications offered by the Adviser should provide you with the information required to aid you in determining whether to hire or retain the Adviser. Additional information about Armor Investment Advisors, LLC also is available on the SEC’s website at www.adviserinfo.sec.gov. i  Item 2 – Material Changes Since the last annual update of our brochure on March 6, 2026, there have been no material changes. We will provide you with a new Brochure as necessary based on changes or new information, at any time, without charge. . Currently, our Brochure may be requested by contacting Graham Shepherd, Chief Compliance Officer at 919-571-4382 or gshepherd@armorinvestmentadvisors.com Our Brochure is also available on our website www.armorinvestmentadvisors.com, also free of charge. Additional information about Armor is available via the SEC’s web site at www.adviserinfo.sec.gov. The SEC’s web site also provides information about any persons affiliated with Armor Investment Advisors who are registered as investment adviser representatives of Armor. ii  Item 3 - Table of Contents Item 1 – Cover Page ....................................................................................................................................... i Item 2 – Material Changes ............................................................................................................................ ii Item 3 - Table of Contents ........................................................................................................................... iii Item 4 – Advisory Business ........................................................................................................................... 1 Financial Planning ................................................................................................................................. 2 Investment Management ..................................................................................................................... 2 Investment Consulting .......................................................................................................................... 3 Investment Consulting to Participant Directed Retirement Plans ........................................................ 3 Item 5 – Fees and Compensation ................................................................................................................. 4 Financial Planning ................................................................................................................................. 4 Investment Management ..................................................................................................................... 5 Investment Consulting .......................................................................................................................... 6 Investment Consulting to Participant Directed Retirement Plans ........................................................ 6 Item 6 – Performance-Based Fees and Side-By-Side Management ............................................................. 7 Item 7 – Types of Clients ............................................................................................................................... 8 Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss ........................................................ 8 Item 9 – Disciplinary Information ............................................................................................................... 10 Item 10 – Other Financial Industry Activities and Affiliations .................................................................... 10 Item 11 – Code of Ethics ............................................................................................................................. 11 Item 12 – Brokerage Practices .................................................................................................................... 12 The Custodians and Brokers We Use ................................................................................................... 12 How We Select Brokers/Custodians .................................................................................................... 12 Brokerage and Custody Costs.............................................................................................................. 13 Products and Services Available to Us from Our Recommended Custodians ..................................... 13 Our Interest in Services Available to Us from Our Recommended Custodians ................................... 13 Aggregated Orders .............................................................................................................................. 13 Item 13 – Review of Accounts..................................................................................................................... 13 Item 14 – Client Referrals and Other Compensation .................................................................................. 14 Item 15 – Custody ....................................................................................................................................... 14 Item 16 – Investment Discretion ................................................................................................................ 14 Item 17 – Voting Client Securities ............................................................................................................... 15 Item 18 – Financial Information .................................................................................................................. 16 Brochure Supplements iii  Item 4 – Advisory Business Armor Investment Advisors, LLC is a private fiduciary wealth management and asset preservation firm. Armor was established in 2005 and is owned by partners John V. Purrington, Matthew C. Miller, Graham F. Shepherd, and Allison R. Miller. John Purrington is the principal owner, meaning that he owns 25% or more of Armor. We hold ourselves to a fiduciary standard with respect to our clients and their wealth: • • • • • We will always put the clients’ best interests first, ahead of our own and those of our firm and its employees. We will always act as a fiduciary. We will act with prudence; that is, with the skill, care, diligence, and good judgment of a professional. When selecting investments, we will act as the client’s agent, seeking the best investments at the best prices at all times. While neither we nor anyone can promise superior investment returns, we will provide impartial advice. We will always be truthful with our clients, providing full and fair disclosure of all important facts, including our compensation from all sources, as well as fees we pay to others on our clients behalf. We will always seek to avoid conflicts of interest. We will fully disclose any potential conflicts, and place the client’s interest first at all times. Our management philosophy is to always work as a Team, not only among ourselves but also with external resources and with our clients’ attorneys, accountants, and other professional parties. Investment Discretion refers to As of December 31, 2025, Armor managed $355,950,613 for clients on a discretionary basis. In addition, Armor advised 401(k) plan assets of $43,498,961 which are not included in this total. the sole or shared authority (whether or not exercised) to determine what securities or other assets to purchase or sell on behalf of a client. The types of advisory services provided by Armor can generally be grouped into four categories: • • • • Comprehensive financial planning for individuals and families Investment management for individuals, families, and foundations Investment consulting services Investment consulting services to participant directed retirement plans Before engaging Armor to provide advisory services, clients are required to enter into one or more written agreements with Armor setting forth the terms and conditions under which Armor will perform its services. 1  Financial Planning As a family’s wealth increases, risk management and wealth preservation grow in importance. Financial planning, estate planning, investment management, and asset protection are all forms of risk management, but the risks addressed by each are different. A comprehensive planning process incorporates all areas. goals Planning plan is an ongoing process, not a static ongoing Risk Assessments and Action Plans. These are highly We begin our comprehensive planning process by defining and understanding our client’s , identifying risks to their attainment, and designing strategies for managing those risks. Planning requires an ongoing analysis of changing conditions with corrections and adjustments in response . For this reason, we look at all financial to these. planning engagements as lasting at least twelve months. We execute planning for our clients, not with static documents, but with personalized because every client’s goals and risks are unique. We organize the Risk Assessments and Action Plans into the following broad categories which we review for corrections and adjustments each time we meet. • • • • • • Current and Future Income Protection Leverage and Debt Management Accumulation and Investment Planning Asset Protection Longevity Planning Estate Planning and Distribution Our investment management decisions are built on an understanding of the goals for the rest of our clients’ lives (financial planning) and for the legacies to our client’s children, grandchildren, and charities (estate planning). We find that the essence of our value to our clients is our personal wealth management process and not just a stand- alone approach to investment management. Investment Management Our approach to investment management seeks to balance long-term goals and return expectations with current income needs and the risk of volatility. We constantly ask whether, in addition to managing market risks, we also are managing the unique risks that could affect the achievement of each client’s personal goals. For this reason, our comprehensive Financial Planning services are incorporated into our Investment Management offering with no additional fee. Prior to entering into an investment advisory arrangement, we work with each client to understand their individual situation. For each group or pool of accounts we manage, we create a Client Investment Policy Statement. The Client Investment Policy Statement documents the accounts to be managed as part of the pool as well as any non-managed assets that should be considered as part of the asset allocation decision. The pool’s time horizon and income needs, coupled with the client 2 tax situation are documented as well as any unique restrictions which might be imposed.  Like a financial plan, the Client Investment Policy Statement is a living document which must be reviewed and updated at least annually. Clients are advised to promptly notify Armor if there are any changes to their financial situation or investment objectives, or if they wish to impose restrictions on the management services. Once we have documented a client’s particular situation, we build a custom portfolio meeting the individual needs of that client. Our investment management process is described in Item 8, below. Investment Consulting Our approach to investment consulting is similar to our approach to financial planning, except that investment consulting clients generally are institutional entities (companies, charitable trusts, foundations, and other tax-exempt entities). Our approach emphasizes risk management. We focus on identifying the investment objectives of our clients and designing risk-managed strategies that seek to achieve these. The steps in our investment consulting process include: • • • • • • • Identification of client goals and cash needs Identification of risks to goal-attainment Adoption of a written Investment Policy Statement Design of asset allocation and other investment strategies, guidelines and policies Selection of risk and performance benchmarks for ongoing monitoring Recommendation of investment managers or funds Ongoing monitoring of risk management and performance Our investment consulting clients often have multiple investment pools, each of which has its own goals and needs. Examples are capital reserves, endowment funds, and pension assets. Distinct policies, strategies, and monitoring processes are usually required for each situation. Our investment consulting services differ from investment management services in that our consulting services do not include the day-to-day selection of securities or trading. Investment Consulting to Participant Directed Retirement Plans ERISA Retirement Income The Security Act of 1974 is a federal law that establishes minimum standards for pension plans. A special type of investment consulting that we provide is our advice to participant directed retirement plans, such as 401(k) and 403(b) plans. Our approach, as well as the steps in the process, is very similar to those in our other consulting services; but differences result from the fact that there often are hundreds of participants in a plan, each of which has different goals and needs. Employee Differences also result from the application of federal pension laws to these plans. The fiduciary responsibilities of plan sponsors, trustees, and investment advisers are great. It is crucial that all fiduciaries understand their responsibilities. We help educate fiduciaries and share ERISA 3(21) responsibility with the plan sponsors and trustees. Upon request, we also will assume a higher level of fiduciary responsibility by written acceptance of our status as a 3(38) plan fiduciary. In all cases, special requirements that apply to participant- directed retirement plans include: 3  • • • • • Investment choices that are made available to participants must be prudently selected and provide a broad range of risk and return characteristics. Participants must have access to information on the suitability and performance of each choice. Participants must receive full and adequate disclosure about possible investment costs, volatility, losses and market fluctuations. Each investment choice must be well-diversified. Participants must have the ability to change their choices at least quarterly. As with other investment consulting services, the development of a written Investment Policy Statement is an essential part of the process. This written policy statement also specifies the ways in which the plan is meeting the special requirements for participant directed plans. Additionally, we recommend a number of characteristics that we consider essential to the success of participant directed retirement plans. These include: • • Low total costs, including the expense ratios of funds in the plan, recordkeeping, custody, administration and investment advisory fees. Manageable number of choices including a variety of asset classes. Attempting to meet fiduciary responsibilities by offering too many choices can be counter-productive. We recommend limiting the number of funds. For more sophisticated plan participants, inclusion of a “brokerage window” option can also be beneficial. In summary, our goal is to give prudent, expert advice to participant directed retirement plans. In providing investment consulting advice we share ERISA 3(21) fiduciary status with plan sponsors and trustees. If, in addition to this, we are appointed by the plan trustees to take over discretionary control of plan assets, we become an ERISA 3(38) fiduciary, and as such are solely responsible for the selection, monitoring, and replacement of a plan’s investment options. Item 5 – Fees and Compensation Armor Investment Advisors, LLC, is committed to full and complete disclosure of all fees and compensation related to client accounts. Depending upon the engagement, Armor offers its services on a fee basis, generally based upon assets under management, but may occasionally include hourly, monthly, and/or fixed fees. Financial Planning Armor provides clients with a broad range of comprehensive financial planning services (which may include non-investment related matters). We will charge a fixed fee, monthly fee or hourly fee for these services. Our financial planning and consulting fees are negotiable, but generally range from $2,500 to $40,000 on a fixed fee basis and from $250 to $300 on an hourly rate basis, depending upon the scope of the services and the professional rendering the financial planning services. If a client engages us for additional services, such as investment management, we may offset all or a portion of the fees for those services based upon the amount paid for the financial planning services. 4  Generally, we require one-half of the financial planning fee (estimated hourly or fixed) payable upon entering the written agreement. The balance is generally due upon delivery of the financial plan. Either party may terminate the agreement by written notice to the other. In the event that a client terminates the financial planning services, the balance of the unearned fees (if any) will be refunded to them. If termination occurs within five business days of entering into an agreement for such services the client will be entitled to a full refund. Investment Management We are a fee-only investment advisor. We charge an annual fee based upon a percentage of the market value of the assets being managed. The annual fee is exclusive of, and in addition to brokerage commissions, transaction fees, and other related costs and expenses. We do not receive any portion of those commissions, fees, and costs. The annual fee will be prorated and charged quarterly, in advance, based upon the market value of the assets on the last day of the previous quarter. The annual fee will vary depending upon the market value of the assets under management, as follows: ASSETS ANNUAL RATE Assets up to $500,000 Assets between $500,001 and $1,000,000 Assets between $1,000,001 and $5,000,000 Assets between $5,000,001 and $15,000,000 Assets between $15,000,001 and $25,000,000 Assets greater than $25,000,000 1.20% 0.80% 0.65% 0.50% 0.45% 0.40% With regard to the fee schedule break points, some clients’ assets are subject to aggregation with family and related accounts. activities, new client discount, etc.). In our sole discretion, we may negotiate to charge a lesser management fee based upon certain pro bono criteria (i.e., anticipated future earning capacity, anticipated future additional assets, dollar amount of assets to be managed, related accounts, pro rata For the initial quarter of investment management services, the fees will be calculated on a basis. If assets are deposited into or withdrawn from an account after the inception of a quarter, the fee payable with respect to such assets will be adjusted or prorated based on the number of days remaining in the quarter. Armor’s annual fee will be prorated through the date of termination and any remaining balance will be refunded to the client, as appropriate, promptly. If termination occurs within five business days of entering into an agreement for such services the client will be entitled to a full refund. Each quarter, we generate and deliver invoices to clients detailing the management fee calculations. Management fees will generally be deducted from client investment accounts concurrently with sending invoices. Clients may select to pay the invoice from outside of their investment account if they prefer. 5  Clients may incur certain charges imposed by financial institutions and other third parties such as custodial fees, charges imposed directly by a mutual fund or exchange traded fund in the account (which will be disclosed in the fund’s prospectus, e.g., fund management fees and other fund expenses), wire transfer and electronic fund fees, and other fees and taxes on brokerage accounts and securities transactions. Additionally, clients may incur brokerage commissions and transaction fees. Such charges, fees and commissions are exclusive of and in addition to Armor’s fee. e.g. Item 12 further describes the factors we consider in selecting or recommending broker-dealers for , commissions). client transactions and determining the reasonableness of their compensation ( Investment Consulting Armor provides clients with a broad range of investment consulting services. We charge a fixed fee or hourly fee for these services. These investment consulting fees are negotiable, but generally range from $2,500 to $40,000 on a fixed fee basis and from $250 to $300 on an hourly rate basis, depending upon the level and scope of the services and the professional rendering the services. We normally require one-half of the investment consulting fee payable upon entering into the agreement. The balance is due upon delivery of the consulting. Either party may terminate the agreement by written notice to the other. If the client terminates the services, the balance of the unearned fees will be refunded to the client. If termination occurs within five business days of entering into an agreement for such services the client will be entitled to a full refund. In some cases, where our consulting services are ongoing, we will agree to an annual fee based on a percentage of the market value of the assets on which we consult. In these cases, our annual fee will be determined as described immediately below for ongoing investment consulting to participant directed retirement plan. Investment Consulting to Participant Directed Retirement Plans When a retirement plan trustee hires us to consult on and provide investment advice for a participant directed retirement plan, we will do so on a fee basis. The fee may be a fixed or hourly fee as in Investment Consulting or it may be based on the value of the assets being advised. The annual fee is exclusive of, and in addition to, brokerage commissions, transaction fees, and other related costs and expenses. We do not receive any portion of those commissions, fees, and costs. When based on assets advised, the annual fee will be prorated and the client will be billed quarterly, in advance, based upon the market value of the assets on the last day of the previous quarter. The annual fee will vary depending upon the market value of the assets, as follows: ASSETS ANNUAL RATE Assets up to $500,000 Assets between $500,001 and $1,000,000 Assets between $1,000,001 and $5,000,000 Assets between $5,000,001 and $10,000,000 Assets greater than $10,000,000 1.00% 0.50% 0.30% 0.20% Negotiable 6  pro rata basis. If assets are deposited into or For the initial quarter, the fees will be calculated on a withdrawn from an account after the inception of a quarter, the fee payable with respect to such assets will be adjusted or prorated based on the number of days remaining in the quarter. Armor’s annual fee will be prorated through the date of termination and any remaining balance will be refunded to the client, as appropriate, promptly. In our sole discretion, we may negotiate to charge a lesser management fee. If we are appointed by the plan trustees to take over discretionary control of plan assets as ERISA 3(38) fiduciary, the Investment Management fee schedule will apply. Retirement Plan Rollovers – No Obligation / Conflict of Interest A client or prospective client leaving an employer has four options regarding an existing retirement plan (and may engage in a combination of these options): (i) leave the money in the former employer’s plan, if permitted, (ii) roll over the assets to the new employer’s plan, if one is available and rollovers are permitted, (iii) roll over to an Individual Retirement Account (“IRA”), or (iv) cash out the account value (which could, depending upon the client’s age, result in adverse tax consequences). If Armor recommends that a client roll over their retirement plan assets into an account to be managed by Armor, such a recommendation creates a conflict of interest if Armor will earn new (or increases its current) compensation as a result of the rollover. No client is under any obligation to roll over retirement plan assets to an account managed by Armor. Insurance and Annuity Products Upon review of a client’s financial status, we may propose that the investor include, as part of his or her financial portfolio, one or more types of products that are not part of the investment advisory services provided by Armor, such as insurance products. If the client chooses to include such a product in his or her financial portfolio, we recommend that the client work closely with his or her attorney, accountant, insurance agent and other related professionals. Incorporation of the non-advisory financial product into the client's financial plan is entirely at the client's discretion. . Armor does not receive compensation for insurance For insurance products, we provide access to a platform of insurance products by DPL Financial Partners, LLC ("DPL"). The client is under no obligation to use DPL's service, and may seek insurance advice from any licensed agent. The insurance products and fee structures available from DPL may differ from those available from other third-party insurance agents. We recommend that the client fully evaluate products and fee structures to determine which arrangements are most favorable to the client prior to making an investment decision. Fees from DPL’s services are separate from Armor’s advisory service fees products selected by the client, whether secured through DPL or any other agent. Item 6 – Performance-Based Fees and Side-By-Side Management 7 We are required to disclose if any accounts are charged performance-based fees (fees based on a share of capital gains or on capital appreciation of the assets of a client). This type of fee structure may, under certain circumstances, create a conflict with client interests.  Armor Investment Advisors, LLC, does not charge any performance-based management fees. Item 7 – Types of Clients We typically provide investment management and financial planning services to individuals, high net worth individuals, and their families. We also provide investment management and investment consulting services to corporations, corporate pension and profit-sharing plans, charitable institutions, foundations, and endowments. As a condition for starting and maintaining an investment management relationship, we will generally impose a minimum fee of $1,500 per quarter. In its sole discretion, we may waive the pro bono minimum fee based upon certain criteria including anticipated future additional assets, dollar amount of assets to be managed, related accounts, pre-existing client relationship, and activities. Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss At the core of our investment process is an understanding that risk and return are related. We believe that a comprehensive investment process should seek to more reliably measure, analyze, and forecast investment performance (return) and the volatility (risk) of various investment types and asset classes in an effort to better construct total portfolios that are tailored to meet our clients’ objectives. A fundamentally important way to reduce volatility is to diversify investments. Our strategy employs a multi-asset class approach whereby we diversify client investments across multiple asset classes (Domestic and International Equities, Real Estate, Fixed Income, Alternatives, etc.) and then tactically shift our weightings to those asset classes given our shorter-term investment thesis. This allows us the opportunity to take advantage of a correlation benefit that is a naturally inherent characteristic of investment markets. While there is volatility present in all areas of the investment markets, the price behaviors of various asset classes and investment types are not perfectly correlated. Therefore, by investing in multiple asset classes, the total portfolio can be less volatile. Taking a longer-term view, we begin by assigning a set of capital market expectations to our investable asset classes. These expectations include forecast return and volatility outcomes as well as asset class correlation data. We then optimize those expectations to determine the most efficient portfolio allocation given the risk objectives for a particular client. We monitor markets to both seek out opportunities to enhance returns and to recalibrate portfolios to their intended risk exposures. 8 The work of monitoring markets is ongoing because the investment and economic landscape is constantly evolving. Our analysis of markets begins by adopting a “top-down” view of global and domestic macro-economic trends. The primary goal of this effort is to identify our position in the economic business cycle. Asset classes and investment types tend to behave differently at various stages of the business cycle and therefore a study of our position within that cycle can help us to construct portfolios that better strike a more favorable balance between risk and return. This macro-economic work can also help us to identify investment themes that are playing out in the global economy and serve as a useful guide in our individual investment selection process.  We complement our macro-economic research with a process that involves monitoring five pillars that we believe are foundational in developing an outlook on the condition of investment markets. Those pillars are valuation, momentum, technical analysis, sentiment, and flow of funds. No one pillar is necessarily more important than another but the goal of this work is to construct a mosaic that can help develop a more comprehensive and thoughtful investment outlook. When selecting individual investments for client portfolios, we work through a rigorous due diligence process which involves qualitative and quantitative analysis of both individual securities and pooled investment vehicles. When identifying individual security candidates for portfolios we screen for companies that exhibit the qualities that the investment markets reward over time. When selecting pooled investment vehicles, we look for managers with proven track records that have been able to add value over time while remaining loyal to their own individual investment process. Each of the investments selected are implemented into portfolios through a Core-Satellite approach whereby we are constantly looking to mitigate idiosyncratic risks and invest for more reliable outcomes that ultimately support our robust financial planning work. Risks associated with our strategies There can be no guarantee of success of our investment management process. Our portfolios may be adversely affected by general economic and market conditions such as interest rates, foreign currency fluctuations, availability of credit, inflation rates, changes in laws, national and international economic and/or political circumstances. These factors may affect the level and volatility of security pricing and the liquidity of an investment. Trading in the portfolios may affect investment performance, particularly through increased brokerage and other transaction costs and taxes. Judgments about the value and potential appreciation of a particular security may be wrong and there is no guarantee that individual securities will perform as anticipated. The value of an individual security can be more volatile than the market as a whole or our approach may fail to produce the intended results. We select investments, in part, on the basis of information and data filed by issuers with various government regulators or made directly available by the issuers or through sources other than the issuers. Although we evaluate all such information and data and ordinarily seek independent corroboration when we consider it is appropriate and reasonably available, we are not in a position to confirm the completeness, genuineness or accuracy of such information and data, and in some cases, complete and accurate information is not available. Risks associated with securities used in our strategies Equity Risk. Regardless of any one company’s particular prospects, a declining stock market may produce a decline in prices for all equity securities, which could also result in losses. Portfolios may contain exposure to small or medium-size companies that may be more susceptible to market downturns, and the prices of which may be more volatile than those of larger companies. 9  Mutual Funds. An investment in a mutual fund involves risk, including the loss of principal. Mutual fund shareholders are subject to the risks stemming from the individual issues of the fund’s underlying portfolio securities. Such shareholders are also liable for taxes on any fund-level capital gains, as mutual funds are required by law to distribute capital gains in the event they sell securities for a profit that cannot be offset by a corresponding loss. Shares of mutual funds are generally distributed and redeemed on an ongoing basis by the fund itself or a broker acting on its behalf. The trading price at which a share is transacted is equal to a mutual fund’s stated daily per share net asset value (“NAV”), plus any shareholders fees (e.g., sales loads, purchase fees, redemption fees). The per-share NAV of a mutual fund is calculated at the end of each business day, although the actual NAV fluctuates with intraday changes to the market value of the fund’s holdings. The trading price of a mutual fund’s shares may differ significantly from the NAV during periods of market volatility, which may, among other factors, lead to the mutual fund’s shares trading at a premium or discount to actual NAV. Exchange-Traded Funds. Portfolios may invest in exchange traded funds (“ETFs”). An ETF is an investment company which offers shares that are listed on a national securities exchange. Shares of ETFs, because they are listed on a stock exchange, can be traded throughout the day on that stock exchange at market-determined prices. ETFs typically invest predominantly in the securities comprising any underlying index. Changes in the prices of such shares generally, but may not in all cases, track the movement in the underlying index or sector securities relatively closely. ETFs are generally seen as a relatively inexpensive way to gain exposure to the underlying market or sector as a whole. Item 9 – Disciplinary Information We are required to disclose all material facts regarding any legal or disciplinary events that would be material to your evaluation of Armor or the integrity of Armor’s management. Armor has no knowledge of any outstanding items or issues applicable to this disclosure. Item 10 – Other Financial Industry Activities and Affiliations We are required to disclose any relationships with other financial institutions and discuss how those relationships may create a conflict of interest. Where a conflict of interest exists we will describe the nature of the conflict and discuss the steps we have taken to ensure that we always put the clients’ interests first. chwab Fidelity ”) and Fidelity Institutional Wealth ”) for investment management 10 Armor Investment Advisors, LLC is NOT a broker-dealer and none of our employees are registered representatives of a broker-dealer. This means that we do not receive commissions for buying or selling securities. We have relationships with multiple broker-dealers who act as custodians and execute trades for our clients’ accounts. Currently we maintain relationships with Charles Schwab & Co., Inc. and its affiliates (collectively referred to as “S Services and its affiliates (collectively referred to as “ accounts.  Armor receives certain products and services from Schwab and Fidelity that we do not pay for separately, which creates a conflict of interest by incentivizing us to recommend or continue to recommend these custodians based, in part, on those benefits. Although these services are not tied to trading activity or commissions, asset based eligibility thresholds associated with certain services present an additional potential conflict of interest. Specifically, we receive the following benefits from our custodians: • • • • • • receipt of duplicate client confirmation and bundled duplicate statements; access to a trading desk that exclusively services Registered Investment Advisor Group participants; access to block trading which provides the ability to aggregate securities transactions and then allocate the appropriate shares to client accounts; access to an electronic communication network for client order entry and account information; technology that assists with back-office functions, recordkeeping, and client reporting; and access to advisor networking and educational events. We regularly evaluate our relationships with broker-dealers and that evaluation process is further discussed in Item 12. Item 11 – Code of Ethics Armor Investment Advisors, LLC has adopted a Code of Ethics for all partners and staff of the firm describing its high standard of business conduct, and fiduciary duty to its clients. Armor’s size limits its ability to segregate oversight and control duties; however the Code of Ethics, to which all employees must comply, is created to minimize any conflicts of interest that may occur. The Code of Ethics includes provisions relating to the confidentiality of client information, a prohibition on insider trading, and personal securities trading procedures, among other things. All partners and staff at Armor must acknowledge the terms of the Code of Ethics annually and when amended. There are times when Armor buys or sells securities for client accounts at or about the same time that Armor employees buy or sell securities for their own accounts. A potential conflict of interest exists in such cases because employees could trade ahead of clients and possibly receive more favorable prices. The Code of Ethics is designed to assure that the personal securities transactions of the employees of Armor will not interfere with making decisions in the best interest of advisory clients and implementing such decisions while, at the same time, allowing employees to invest for their own accounts. Trading policies and procedures are in place and employee trading is monitored to reasonably prevent conflicts of interest between Armor and its clients. Clients or prospective clients may request a copy of the firm's Code of Ethics by contacting our Chief Compliance Officer Graham Shepherd at gshepherd@armorinvestmentadvisors.com. 11  Item 12 – Brokerage Practices We are required to describe the factors we consider in recommending broker-dealers for transactions and in determining if the brokerage commissions are reasonable. The Custodians and Brokers We Use Item 15 – Custody Client funds and securities will be maintained by unaffiliated qualified custodians; banks, broker/dealers, mutual fund company, or transfer agent; not with or by Armor Investment Advisors, LLC or any of its associates (see , below). We recommend that our clients use Schwab and/or Fidelity as their qualified custodian. We are independently owned and operated and are not affiliated with Schwab or Fidelity. A qualified custodian will hold client assets in a brokerage account and buy and sell securities based on our instructions to them. While we may recommend that clients use a specific custodian/broker, the client will decide whether to do so and open an account with the qualified custodian by entering into an account agreement directly with them. We cannot open the account for the client, although we may assist the client in doing so. In some situations, Armor provides investment management for assets which are not held by one of our recommended custodians. Examples include investment management for executives who have retirement plan accounts at custodians selected by their employers and situations where a client directs us to use a specified custodian. In these situations, we are unable to assure that the custodian is achieving favorable execution of the client’s transactions. Directing brokerage may cost clients more money. How We Select Brokers/Custodians • We recommend custodians/brokers who will hold client assets and execute transactions on terms that we believe are most advantageous when compared to other available providers and their services. We consider a wide range of factors, including: • • Products • • • • • • • Combination of transaction execution services and asset custody services (generally without a separate fee for custody) Capability to execute, clear, and settle trades (buy and sell securities) Capability to facilitate transfers and payments to and from accounts (wire transfers, check requests, bill payment, etc.) Breadth of available investment products (stocks, bonds, mutual funds, ETF’s, etc.) Availability of investment research and tools that assist us in making investment decisions Quality of services Competitiveness of the price of services (commission rates, margin interest rates, etc.) Reputation, financial strength, and stability Prior service to us and our other clients and Services Available to Us from our Recommended Custodians Availability of other products and services that benefit us, as discussed below (see “ ”) 12  Brokerage and Custody Costs For client accounts held at our recommended custodians, the custodians generally do not charge separately for custody services but are compensated by charging commissions or other fees on trades they execute or that settle into an account. In addition to commissions, Schwab and Fidelity charge a flat dollar amount as a “prime broker” or “trade away” fee for each trade that is executed by a different broker-dealer but where the securities bought or the funds from the securities sold are deposited (settled) into a custodian account. These fees are in addition to the commissions paid to the executing broker-dealer. In order to minimize trading costs, we have directed our recommended custodians to execute most trades rather than “trading away”. We believe that having our recommended custodians execute most trades is consistent with our duty to seek “best execution”. Products and Services Available to Us from Our Recommended Custodians Schwab and Fidelity have businesses serving independent investment advisory firms like ours. They provide us and our clients with access to their institutional brokerage-trading, custody, reporting, and related services-many of which are not typically available to retail customers. They also make available various support services. Some of those services help us manage or administer our clients’ accounts; while others help us manage and grow our business. The support services generally are available on an unsolicited basis (we don’t have to request them) and at no charge to us as long as our clients collectively maintain a minimum dollar amount of their assets in accounts at the custodian. If our clients collectively have less than the minimum in assets, we may be charged service fees. Armor clients collectively maintain assets at each of our recommended custodians significantly above the required minimums. Our Interest in Services Available to Us from Our Recommended Custodians not The availability of these services benefits us because we do not have to purchase them. These services create a conflict of interest because Armor has an incentive to recommend or continue to recommend Schwab or Fidelity as a custodian based, in part, on the benefits Armor receives. These services are tied to the amount of trading or commissions paid. The minimum dollar thresholds present a potential conflict of interest. Aggregated Orders Transactions for each client will generally be effected independently unless we decide to purchase or sell the same securities for several clients at approximately the same time (often termed a “block” order). We may aggregate orders in an attempt to allocate fairly among client accounts. Not aggregating may result in higher costs or less favorable execution. Item 13 – Review of Accounts We monitor investment portfolios on an ongoing basis, and regular account reviews are conducted on at least a quarterly basis. Account reviews are conducted by one of our professionals, Jeffrey Miller, John Purrington, Matt Miller, Graham Shepherd, or Allison Miller. All investment advisory clients are encouraged to keep us informed of any changes that might affect their financial situation. 13 We contact ongoing investment advisory clients at least annually to review previous services and to  Time Weighted Rate of Return measures discuss any changes to their Investment Policy Statement. We provide written quarterly reports to clients supplementing the transaction confirmation notices and regular summary account statements received directly from the broker-dealer or custodian. Our reports show the client’s quarter end positions and asset allocation as well as the Time Weighted Rate of Return for each of their investment pools calculated net of fees. For client meetings, we generally will provide similar reports. how a manager performs. It removes the effect of the client’s decisions to deposit or withdraw money in the account. It measures investment performance (income and price changes) as a percentage of capital “at work,” effectively eliminating the effects of additions and withdrawals of capital and their timing. For those clients to whom we provide financial planning and/or consulting services, we will produce written reports summarizing our analysis and conclusions as requested by the client or otherwise agreed to in writing. Ongoing reviews are conducted on an “as needed” basis depending on factors such as cash flows, changes in client objectives or restrictions or changing market conditions. Such reviews are conducted by one of our partners. Item 14 – Client Referrals and Other Compensation Armor Investment Advisors, LLC has no arrangements, oral or in writing, where it directly or indirectly compensates any person for client referrals. Item 15 – Custody Client funds and securities will be maintained by unaffiliated qualified custodians; banks, broker/dealers, mutual fund company, or transfer agent; not with or by Armor Investment Advisors, LLC or any of its associates. Clients should receive at least quarterly statements from the qualified custodian that holds and maintains the client’s investment assets. We urge clients to carefully review such statements and compare such official custodial records to the account statements that we provide. Our statements may vary from custodial statements based on accounting procedures, reporting dates, or valuation methodologies of certain securities. Clients should not hesitate to contact us if there are any questions about their statements. Item 16 – Investment Discretion Generally, Armor Investment Advisors, LLC receives discretionary authority from the client at the outset of every investment management relationship and is authorized to make the following determinations without client consultation or consent before a transaction is effected: • • • • Which securities to buy or sell. The total amount of securities to buy or sell. The broker or dealer through whom securities are bought or sold. The commission rates at which securities transactions for client accounts are affected. 14  • The prices at which securities are to be bought or sold, which may include dealer spreads or mark-ups and transaction costs. Armor assumes discretion upon execution of the advisory agreement with the client. In all cases such discretion will be exercised in a manner consistent with the Client Investment Policy Statement for the particular client account. When selecting securities and determining amounts, Armor observes the investment policies, limitations and restrictions of the client. Item 17 – Voting Client Securities Armor Investment Advisors, LLC may vote proxies on behalf of our clients. When we accept such responsibility, we will only cast proxy votes consistent with what we believe is the best interest of our clients. In the event Armor has discretion to vote proxies for a client, and a client requests a vote in a particular way, we would attempt to honor the request with respect to the shares held by that client. We have contracted with Egan-Jones Proxy Services (“EJPS”) who will provide proxy voting support with regard to casting votes and keeping records. EJPS provides us with research reports and voting recommendations for proposals to assist us in making informed decisions. We will generally follow EJPS recommendations. However, we retain the ability to override EJPS’s recommendations when we believe it is in the best interest of the client and such a vote does not create a conflict of interest between the client and us. All voting records where we retain proxy voting authority are maintained by EJPS, except we will maintain copies of any document created by us that was material in making a determination of how to vote a case-by-case proxy or that memorializes the basis for that decision. In situations where there may be a conflict of interest in the voting of proxies due to business or personal relationships, we will take appropriate steps to ensure that the proxy voting decisions are made in the best interest of our clients and are not the product of such conflict. Clients may obtain information from Armor about how their securities were voted and obtain a copy of our proxy voting policies and procedures upon request by contacting our Chief Compliance Officer Graham Shepherd at gshepherd@armorinvestmentadvisors.com. We have engaged Chicago Clearing Corporation (“CCC”) as a resource to clients eligible to participate in securities class action settlements. For clients opting to utilize this service, CCC will prepare, file, accept, and process securities claims on the client’s behalf. Clients authorize CCC to deduct its fee from the clients’ pro rata share of any resulting claims distributions. CCC will collect these distributions directly from the administrator and then distribute the net proceeds (claims distributions minus CCC’s fee) to clients based on clients’ designated delivery instructions. 15  Item 18 – Financial Information We are required to provide you with certain financial information or disclosures about Armor Investment Advisor, LLC’s financial condition. Armor does not require or solicit prepayment of more than $1,200 in fees per client, six months or more in advance. Therefore, Armor is not required to include a balance sheet for its most recent fiscal year. Armor has no financial commitment that impairs its ability to meet our contractual and fiduciary commitments to clients, and has not been the subject of a bankruptcy proceeding. 16  Form ADV Part 2B Brochure Supplement John V. Purrington Armor Investment Advisors, LLC 4101 Lake Boone Trail, Suite 208 Raleigh, NC 27607 919-571-4382 This Brochure Supplement provides information about John V. Purrington that supplements the April 23, 2026 Armor Investment Advisors, LLC Brochure. You should have received a copy of that Brochure. Please contact our Chief Compliance Officer, Graham F. Shepherd, at 919-571-4382 if you did not receive Armor Investment Advisors, LLC’s Brochure or if you have any questions about the contents of this supplement. Additional information about John V. Purrington is available on the SEC’s website at www.adviserinfo.sec.gov. Item 2- Educational Background and Business Experience John Vietor Purrington Post Secondary Education Born 1967 : Bucknell University – 1990, BA, Economics Duke University Office of Continuing Studies – 2005 Executive Recent Business Background Certificate in Certified Financial Planning : Armor Investment Advisors, LLC, Member, 06/2007 – Present Schwab Performance Technologies, Various Roles, 10/1990 – Professional Designations 05/2007 : 1 CERTIFIED FINANCIAL PLANNER™ professional John Purrington joined Armor Investment Advisors, LLC in 2007 as a partner and as the firm’s Chief Operating Officer. John also was our Chief Compliance Officer from 2009 to 2021. In 2015, John became CEO. John is a CERTIFIED FINANCIAL PLANNER™ professional. From 1990 until 2007, John helped grow Schwab Performance Technologies from a three person startup into an industry leader delivering portfolio management and accounting solutions to more than 3,000 independent  financial advisors. John held many roles at Schwab Performance Technologies including overseeing the customer support group, managing the quality assurance team, and consulting for some of the most respected advisory firms in the country. A graduate of Woodberry Forest School, John received his undergraduate degree in Economics from Bucknell University. In 2005, John received an Executive Certificate in Certified Financial Planning from Duke University’s Continuing Studies program. Item 3- Disciplinary Information Armor Investment Advisors, LLC is required to disclose all material facts regarding any legal or disciplinary events that would be material to your evaluation of each supervised person providing investment advice. No information is applicable to this Item. Item 4- Other Business Activities We are required to disclose any outside business activities that are investment related or that • Family Partnership. provide a substantial source of income or involve a substantial amount of time. John Purrington is the manager of family partnerships, STALPCO, LLC and Lost Valley Investments, and coordinates with family members regarding investments. Item 5- Additional Compensation We are required to disclose any additional compensation for providing advisory services received from anyone who is not a client. This would include sales awards or any bonus based on number of sales. No information is applicable to this Item. Item 6 - Supervision At Armor Investment Advisors, LLC our planners work as a team to provide financial planning and investment advice to our clients. Each client has a primary and a secondary adviser to ensure that we monitor all advice provided to clients. Graham F. Shepherd (919-571-4382) is responsible for supervising John’s advisory activities. 1CFP® - CERTIFIED FINANCIAL PLANNERTM Minimum Qualifications Issued by: Prerequisites/Experience Required: Certified Financial Planner Board of Standards, Inc. Candidate must meet the following requirements: • • A bachelor’s degree (or higher) from an accredited college or university, and 3 years of full-time personal financial planning experience Candidate must complete a CFP-board registered program, or hold one of the following: • • • CPA ChFC Ph.D. in business or economics Doctor of Business Administration Educational Requirements: • • • • Attorney's License Chartered Life Underwriter (CLU) CFA Examination Type: Continuing Education/Experience Requirements: CFP Certification Examination 30 hours every 2-years  Form ADV Part 2B Brochure Supplement Matthew C. Miller Armor Investment Advisors, LLC 4101 Lake Boone Trail, Suite 208 Raleigh, NC 27607 919-571-4382 This Brochure Supplement provides information about Matthew C. Miller that supplements the Armor April 23, 2026 Investment Advisors, LLC Brochure. You should have received a copy of that Brochure. Please contact our Chief Compliance Officer, Graham F. Shepherd, at 919-571-4382 if you did not receive Armor Investment Advisors, LLC’s Brochure or if you have any questions about the contents of this supplement. Additional information about Matthew C. Miller is available on the SEC’s website at www.adviserinfo.sec.gov. Item 2- Educational Background and Business Experience Matthew Clark Miller Post Secondary Education: Born 1984 University of North Carolina at Chapel Hill – 2007, BA, Economics Duke University Office of Continuing Studies – 2010 Executive Certificate Recent Business Background: in Certified Financial Planning Armor Investment Advisors, LLC, Financial Planning Analyst and Director of Client Experience, 03/2013 - Present Professional Designations Envestnet | Tamarac, Senior Operations Analyst, 09/2012 – 03/2013 Schwab Performance Technologies, Portfolio Analyst, 03/2010-09/2012 : 1 CERTIFIED FINANCIAL PLANNER™ professional ® Matt Miller joined Armor Investment Advisors, LLC in 2013 after working in financial services for 6 years. In 2010 he received an Executive Certificate in Financial Planning from Duke University’s Certification Exam. In 2016, after Continuing Studies Program and in 2014 Matt passed the CFP  TM satisfying the experience requirement, Matt earned the CERTIFIED FINANCIAL PLANNER designation. Item 3- Disciplinary Information Armor Investment Advisors, LLC is required to disclose all material facts regarding any legal or disciplinary events that would be material to your evaluation of each supervised person providing investment advice. No information is applicable to this Item. Item 4- Other Business Activities We are required to disclose any outside business activities that are investment related or that provide a substantial source of income or involve a substantial amount of time. No information is applicable to this Item. Item 5- Additional Compensation We are required to disclose any additional compensation for providing advisory services received from anyone who is not a client. This would include sales awards or any bonus based on number of sales. No information is applicable to this Item. Item 6 - Supervision At Armor Investment Advisors, LLC our planners work as a team to provide financial planning and investment advice to our clients. Each client has a primary and a secondary adviser to ensure that we monitor all advice provided to clients. John V. Purrington (919-571-4382) is responsible for supervising Armor’s advisory activities. 1CFP® - CERTIFIED FINANCIAL PLANNERTM Minimum Qualifications Issued by: Prerequisites/Experience Required: Certified Financial Planner Board of Standards, Inc. Candidate must meet the following requirements: • • A bachelor’s degree (or higher) from an accredited college or university, and 3 years of full-time personal financial planning experience Candidate must complete a CFP-board registered program, or hold one of the following: • • • CPA ChFC Ph.D. in business or economics Doctor of Business Administration Educational Requirements: • • • • Attorney's License Chartered Life Underwriter (CLU) CFA Examination Type: Continuing Education/Experience Requirements: CFP Certification Examination 30 hours every 2-years  Form ADV Part 2B Brochure Supplement Graham F. Shepherd Armor Investment Advisors, LLC 4101 Lake Boone Trail, Suite 208 Raleigh, NC 27607 919-571-4382 This Brochure Supplement provides information about Graham F. Shepherd that supplements the April 23, 2026 Armor Investment Advisors, LLC Brochure. You should have received a copy of that Brochure. Please contact our Chief Compliance Officer, Graham F. Shepherd, at 919-571-4382 if you did not receive Armor Investment Advisors, LLC’s Brochure or if you have any questions about the contents of this supplement. Additional information about Graham F. Shepherd is available on the SEC’s website at www.adviserinfo.sec.gov. Item 2- Educational Background and Business Experience Graham Francis Shepherd Post Secondary Education: Born 1986 University of North Carolina at Chapel Hill – 2008, BA, Anthropology North Carolina State University Office of Professional Development – Recent Business Background: 2018 Certificate in Financial Planning Armor Investment Advisors, LLC, Chief Compliance Officer and Chief Operating Officer, 11/2018 – Present Envestnet | Tamarac, Director of Operations, 10/2011 – 11/2018 Schwab Performance Technologies, Portfolio Analyst, 07/2010 – Professional Designations 10/2011 : 1 CERTIFIED FINANCIAL PLANNER™ professional Graham Shepherd joined Armor Investment Advisors, LLC in 2018 after working in financial services for 8 years. In 2021, Graham became Chief Compliance Officer. In 2018 Graham received a Certificate in Financial Planning from North Carolina State University’s Continuing Studies Program  ® TM Certification Exam. In 2018, after satisfying the experience requirement, designation. and passed the CFP Graham earned the CERTIFIED FINANCIAL PLANNER Item 3- Disciplinary Information Armor Investment Advisors, LLC is required to disclose all material facts regarding any legal or disciplinary events that would be material to your evaluation of each supervised person providing investment advice. No information is applicable to this Item. Item 4- Other Business Activities We are required to disclose any outside business activities that are investment related or that provide a substantial source of income or involve a substantial amount of time. No information is applicable to this Item. Item 5- Additional Compensation We are required to disclose any additional compensation for providing advisory services received from anyone who is not a client. This would include sales awards or any bonus based on number of sales. No information is applicable to this Item. Item 6 - Supervision At Armor Investment Advisors, LLC our planners work as a team to provide financial planning and investment advice to our clients. Each client has a primary and a secondary adviser to ensure that we monitor all advice provided to clients. John V. Purrington (919-571-4382) is responsible for supervising Armor’s advisory activities. 1CFP® - CERTIFIED FINANCIAL PLANNERTM Minimum Qualifications Issued by: Prerequisites/Experience Required: Certified Financial Planner Board of Standards, Inc. Candidate must meet the following requirements: • • A bachelor’s degree (or higher) from an accredited college or university, and 3 years of full-time personal financial planning experience Candidate must complete a CFP-board registered program, or hold one of the following: • • • CPA ChFC Ph.D. in business or economics Doctor of Business Administration Educational Requirements: • • • • Attorney's License Chartered Life Underwriter (CLU) CFA Examination Type: Continuing Education/Experience Requirements: CFP Certification Examination 30 hours every 2-years  Form ADV Part 2B Brochure Supplement Allison R. Miller Armor Investment Advisors, LLC 4101 Lake Boone Trail, Suite 208 Raleigh, NC 27607 919-571-4382 This Brochure Supplement provides information about Allison R. Miller that supplements the Armor April 23, 2026 Investment Advisors, LLC Brochure. You should have received a copy of that Brochure. Please contact our Chief Compliance Officer, Graham F. Shepherd, at 919-571-4382 if you did not receive Armor Investment Advisors, LLC’s Brochure or if you have any questions about the contents of this supplement. Additional information about Allison R. Miller is available on the SEC’s website at www.adviserinfo.sec.gov. Item 2- Educational Background and Business Experience Allison Rose Miller Post Secondary Education: Born 1992 Virginia Polytechnic Institute & State University – 2016, BS, Applied Recent Business Background: Economic Management: Financial Planning Option Professional Designations Armor Investment Advisors, LLC, Financial Planner, 08/2019 – Present WMS Partners, LCC, Financial Planning Associate, 05/2016 – 08/2019 : 1 2 3 CERTIFIED FINANCIAL PLANNER™ professional CERTIFIED DIVORCE FINANCIAL ANALYST® certificant ACCREDITED INVESTMENT FIDUCIARY® designee TM Allison Miller joined Armor Investment Advisors, LLC in 2019 after working in financial services for ® Certification Exam, Allison earned the CERTIFIED FINANCIAL 4 years. In 2020, after passing the CFP PLANNER designation.  Item 3- Disciplinary Information Armor Investment Advisors, LLC is required to disclose all material facts regarding any legal or disciplinary events that would be material to your evaluation of each supervised person providing investment advice. No information is applicable to this Item. Item 4- Other Business Activities We are required to disclose any outside business activities that are investment related or that provide a substantial source of income or involve a substantial amount of time. No information is applicable to this Item. Item 5- Additional Compensation We are required to disclose any additional compensation for providing advisory services received from anyone who is not a client. This would include sales awards or any bonus based on number of sales. No information is applicable to this Item. Item 6 - Supervision At Armor Investment Advisors, LLC our planners work as a team to provide financial planning and investment advice to our clients. Each client has a primary and a secondary adviser to ensure that we monitor all advice provided to clients. John V. Purrington (919-571-4382) is responsible for supervising Armor’s advisory activities. 1CFP® - CERTIFIED FINANCIAL PLANNERTM Minimum Qualifications Issued by: Prerequisites/Experience Required: Certified Financial Planner Board of Standards, Inc. Candidate must meet the following requirements: • • A bachelor’s degree (or higher) from an accredited college or university, and 3 years of full-time personal financial planning experience Candidate must complete a CFP-board registered program, or hold one of the following: CPA Ph.D. in business or economics • • • Educational Requirements: • • • • ChFC Chartered Life Underwriter (CLU) Doctor of Business Administration Attorney's License CFA Examination Type: Continuing Education/Experience Requirements: CFP Certification Examination 30 hours every 2-years 2CDFA® - Accredited Investment Fiduciary Certified Divorce Financial Analyst (CDFA™) professionals must develop their theoretical and practical understanding and knowledge of the financial aspects of divorce by completing a comprehensive course of study approved by the Institute for Divorce Financial Analysts. CDFA™ professionals must have two years minimum experience in a financial or legal capacity prior to earning the right to use the CDFA™ certification mark. 3AIF® - Accredited Investment Fiduciary The Accredited Investment Fiduciary® (AIF®) designation represents a thorough knowledge of and ability to apply the fiduciary practices. Through fi360′s AIF® Training programs, AIF® designees learn the Practices and the legal and best practice framework they are built upon. AIF® designees have a reputation in the industry for the ability to implement a prudent process into their own investment practices as well as being able to assist others in implementing proper policies and procedures.