Bates Financial Advisors, Inc.

George D. Bates Bates Financial Advisors, Inc. 8437 Northern Avenue Rockford, IL 61107 Telephone: 815-332-4020 Email: gdbates@batessecurities.com Web Address: www.BatesFinancialAdvisors.com January 1, 2026 FORM ADV PART 2B BROCHURE SUPPLEMENT This brochure supplement provides information about George D. Bates that supplements the Bates Financial Advisors, Inc. brochure. You should have received a copy of that brochure. Contact us at 815-332-4020 if you did not receive Bates Financial Advisors, Inc.'s brochure or if you have any questions about the contents of this supplement. Additional information about George D. Bates (CRD #1539381) is available on the SEC's website at www.adviserinfo.sec.gov. 1  Item 2 Educational Background and Business Experience George D. Bates Year of Birth: 1963 After high school, Mr. Bates attended Moody Bible Institute and DePaul University, receiving his Bachelor of Science degree in Commerce/Accounting. He then attended Illinois Institute of Technology – Chicago Kent and obtained his Juris Doctorate in June of 1990. After graduating from law school, Mr. Bates was employed by the accounting firm Deloitte-Touche in Chicago, Illinois. In September 1991, he began working with the law firm of McGreevey, Johnson, and Williams in Rockford, Illinois, specializing in federal and state tax matters, estate planning, real estate, and civil litigation. Mr. Bates is a Financial Operations Principal (Series 27) with Bates Securities, Inc., overseeing all financial operations. He is also a Registered Securities Principal (Series 24) and Municipal Securities Principal (Series 53). Mr. Bates is in the process of renewing his Certified Financial Planner® designation. CFP® certificants must satisfy various certification requirements, pass a comprehensive exam, and meet continuing education requirements, as described at www.cfp.net. Item 3 Disciplinary Information Form ADV Part 2B requires disclosure of certain criminal or civil actions, administrative proceedings, and self-regulatory organization proceedings, as well as certain other proceedings related to suspension or revocation of a professional attainment, designation, or license. Mr. George D. Bates has no required disclosures under this item. Item 4 Other Business Activities Mr. George D. Bates is a Principal/Registered Representative with Bates Securities, Inc. Bates Securities, Inc. is a diversified financial services company engaged in the sale of specialized investment products. In this capacity, Mr. Bates may recommend securities or insurance products offered by Bates Securities, Inc. as part of your investment portfolio. If you purchase these products through Mr. Bates, he will receive customary commissions in his separate capacity as a Principal/Registered Representative of Bates Securities, Inc. Additionally, Mr. Bates could be eligible to receive incentive awards such as Bates Securities, Inc. may offer. He will also receive 12b-1 fees from mutual funds that pay such fees. The receipt of additional compensation will give Mr. Bates an incentive to recommend investment products based on the compensation received, rather than on your investment needs. As stated above, persons providing investment advice to advisory clients on behalf of our firm are registered representatives with Bates Securities, Inc. In their capacity as registered representatives, these persons receive compensation in connection with the purchase and sale of securities or other investment products, including asset-based sales charges, service fees or 12b-1 fees for the sale or holding mutual funds. Compensation earned by these persons in their capacities as registered representatives is separate and in addition to our advisory fees. This practice presents a conflict of interest because persons providing investment advice to advisory clients on behalf of our firm who are registered representatives have an incentive to recommend investment products based on the compensation received rather than solely based on your needs. Persons providing investment advice to advisory clients on behalf of our firm can select or recommend, and in many instances will select or 2  recommend, mutual fund investments in share classes that pay 12b-1 fees when clients are eligible to purchase share classes of the same funds that do not pay such fees and are less expensive. This presents a conflict of interest. You are under no obligation, contractually or otherwise, to purchase securities products through a person affiliated with our firm. 3  Item 5 Additional Compensation Refer to the Other Business Activities section above for disclosures on Mr. Bates's receipt of additional compensation as a result of his other business activities. Also, refer to the Fees and Compensation, Client Referrals and Other Compensation, and Other Financial Industry Activities and Affiliations section(s) of Bates Financial Advisors, Inc.'s firm brochure for additional disclosures on this topic. Item 6 Supervision In the supervision of our associated persons, advice provided is limited based on the restrictions set by Bates Financial Advisors, Inc., and by internal decisions as to the types of investments that may be included in client portfolios. We conduct periodic reviews of client holdings and documented suitability information to provide reasonable assurance that the advice provided remains aligned with each client's stated investment objectives and with our internal guidelines. 4