CAPITAL ENDURANCE GROUP, INC

Capital Endurance Group, Inc. BROCHURE (Form ADV Part 2A) Capital Endurance Group, Inc. 5755 North Point Parkway, Suite 20 Alpharetta, Georgia 30022 Phone: (470) 375-6663 Website: www.cegwm.com Email: info@cegwm.com Firm Contact Patrick M. Dailey, CFP® Chief Compliance Officer Email: patrick@cegwm.com April 17, 2026 This brochure (“Brochure”) provides you with information about the qualifications and business practices of Capital Endurance Group, Inc. It contains information that you should consider before becoming a client of our firm. The information contained herein has not been approved or verified by the United States Securities and Exchange Commission or any state securities authority. Our firm is an investment advisory firm registered pursuant to the laws of the state of Georgia. Registration of an Investment Advisor does not imply a certain level of skill or training. We have only filed the requisite registration documents with the respective governmental entities in the appropriate jurisdictions. If you have any questions about the contents of this Brochure, please contact us by telephone at (470) 375- 6663. Additional information about Capital Endurance Group (CRD No. 284793) can be found on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by a search using the firm’s CRD number. The Brochure supplements for our firm’s investment advisor representatives begin after page 20, and this document is not complete without the Brochure supplements.  Capital Endurance Group, Inc. MATERIAL CHANGES (Item 2) Capital Endurance Group Material Changes This version of our Brochure, dated April 17, 2026, is our revised annual amendment. The following are material changes in our business practices since the last amendment in September of 2025: Advisory Services (Item 4) Assets Under Management We have updated our assets under management as required by regulations. We manage a total of $118,988,832* in client assets on a discretionary basis. *Our asset values are based on calculations as of December 31, 2025. Types of Clients (Item 7) Minimum Investment Value We have increased our minimum investment value requirement from $500,000 to $2,000,000. General Revisions We have revised some language and content to ensure that our disclosures are concise and unambiguous. CEG BROCHURE 2  Capital Endurance Group, Inc. TABLE OF CONTENTS (Item 3) MATERIAL CHANGES (Item 2) ................................................................................................................................... 2 TABLE OF CONTENTS (Item 3) .................................................................................................................................. 3 ADVISORY SERVICES (Item 4) ................................................................................................................................... 4 FEES AND COMPENSATION (Item 5) ........................................................................................................................ 5 PERFORMANCE-BASED FEES AND SIDE-BY-SIDE MANAGEMENT (Item 6) ...................................................... 7 TYPES OF CLIENTS (Item 7) ....................................................................................................................................... 7 METHODS OF ANALYSIS, INVESTMENT STRATEGIES, AND RISK OF LOSS (Item 8) ........................................ 7 DISCIPLINARY INFORMATION (Item 9) .................................................................................................................. 13 OTHER FINANCIAL INDUSTRY ACTIVITIES AND AFFILIATIONS (Item 10) ...................................................... 14 CODE OF ETHICS, PARTICIPATION, OR INTEREST IN CLIENT TRANSACTIONS AND PERSONAL TRADING (Item 11) ........................................................................................................................................................................ 14 BROKERAGE PRACTICES (Item 12) .......................................................................................................................... 15 REVIEW OF ACCOUNTS (Item 13) ............................................................................................................................. 17 CLIENT REFERRALS AND OTHER COMPENSATION (Item 14) ............................................................................ 18 CUSTODY (Item 15) ..................................................................................................................................................... 18 INVESTMENT DISCRETION (Item 16) ...................................................................................................................... 18 VOTING CLIENT SECURITIES (Item 17) ................................................................................................................... 19 FINANCIAL INFORMATION (Item 18) ...................................................................................................................... 19 REQUIREMENTS FOR STATE REGISTERED ADVISERS (Item 19) ....................................................................... 19 ADDITIONAL DISCLOSURES ................................................................................................................................... 20 BROCHURE SUPPLEMENT for Patrick M. Dailey CRD No. 4298837 ....................................................................... 2 BROCHURE SUPPLEMENT for Paul M. Delaney CRD No. 4554283 ......................................................................... 1 CEG BROCHURE 3  Capital Endurance Group, Inc. ADVISORY SERVICES (Item 4) About Our Business Capital Endurance Group, Inc. (also referred to herein as “we,” “us,” or “our”) is a wealth management firm that provides advice regarding portfolio management strategies and financial planning consultations. Our firm is a Georgia corporation that began managing our clients’ investments and providing financial advice in 2011. We are registered pursuant to the investment advisor regulations of the states of Georgia and North Carolina. Mr. Patrick M. Dailey is our firm's principal owner, chief compliance officer, and an investment advisor representative. Types of Advisory Services As a wealth management firm, we provide portfolio management strategies that incorporate goals-based financial planning solutions. A detailed explanation of our services is as follows: 1. Comprehensive Wealth Management Services Our comprehensive wealth management services combine our discretionary portfolio management strategies and financial planning methodologies. These services incorporate the financial planning solutions outlined below. Utilizing financial planning techniques allows us to tailor investment advice and design a more personalized asset allocation strategy to meet a client’s specific financial goals and objectives. The discretionary portfolio management strategies include investment advice regarding exchange-traded funds, mutual funds, closed-end mutual funds, common stocks, fixed income securities, municipal bonds, corporate bonds, publicly traded real estate investment trusts, exchange-traded notes, commodities, and alternative investments, such as hedge funds and private real estate investments. When implementing comprehensive wealth management services, we typically construct a client’s portfolio using asset class allocations to exchange-traded funds, and also utilize mutual funds, fixed-income securities, and other securities based on a client’s financial circumstances. Also, based on a client’s investment goals, net worth, annual income, and financial circumstances, we may recommend alternative investments to augment a client’s portfolio holdings. 2. Stand-Alone Limited Engagement Financial Planning Services We offer stand-alone, limited engagement financial planning services for clients interested solely in financial planning. Our financial plans are developed by evaluating data related to our clients’ financial circumstances, investment goals and objectives, and tax status. Our financial plan or planning report may include, but is not limited to, information regarding a client’s net worth calculations and cash flow analysis, consumption and debt planning, retirement planning, college planning, advanced education planning, estate planning issues, executive compensation planning, and wealth transfer matters. For estate planning and wealth transfer matters, we offer access to an automated platform that assists clients in preparing foundational estate documents such as trusts, wills, powers of attorney, etc. Our firm does not provide legal advice; we only facilitate access to the platform that generates the estate planning support documents. Additionally, we evaluate client needs for asset protection and risk management. The financial plan or planning report is delivered within three (3) months of commencing financial planning services. Our firm will not be responsible for implementing any recommendations in a written financial plan prepared pursuant to a stand-alone limited engagement financial planning services engagement. We will not supervise the implementation of the financial planning recommendations unless a client enters into a separate investment management agreement for comprehensive wealth management services. If a client who has engaged us for stand-alone limited financial planning services decides to utilize us to implement the recommendations, such an engagement is pursuant to a separate advisory agreement. Clients are advised that our receipt of fees for financial planning and comprehensive wealth management services creates conflicts of interest. When a limited engagement financial planning client engages us for comprehensive wealth management services within twelve (12) months of the engagement, we mitigate the conflicts of interest associated with our firm receiving advisory fees for both services by applying the advisory fees paid for stand- alone limited financial planning services to the client’s annual comprehensive wealth management fees. Please note that clients are not obligated to implement our financial planning recommendations. Moreover, if a client elects to implement our financial planning recommendations, there is no obligation to implement the recommendations through our firm. Clients may implement recommendations with any professional advisor. CEG BROCHURE 4  Capital Endurance Group, Inc. Tailored Services Our advice and services are based on the individual needs of a client after analyzing and thoroughly evaluating each client’s goals, objectives, investment horizon, and risk tolerance. Clients may impose restrictions on investing in certain asset classes or specific types of securities by advising their investment advisor representative of such restrictions. Wrap Fee Programs We are not a participant in any wrap fee program. Assets Under Management We manage a total of $118,988,832* in client assets on a discretionary basis. *Our asset values are based on calculations as of December 31, 2025. FEES AND COMPENSATION (Item 5) Advisory Fees We earn fees and compensation by implementing comprehensive wealth management strategies and providing limited stand-alone financial planning services. Our fees for services are as follows: 1. Comprehensive Wealth Management Services Assets Under Management First $0 - $500,000 Rate Applied 1.50% Next $500,001 - $1,000,000 1.00% Next $1,000,001 - $5,000,000 0.75% Next $5,000,001 and over 0.55% Sample Fee Calculation Investments of $3,500,000 $ 500,000 @1.50% $1,000,000 @1.00% $2,000,000 @ .75% Approx. Annualized Blended Rate of .93% Annual Fee $32,500 | Quarterly Fee $8,125 Our comprehensive wealth management fee schedule is negotiable at our sole discretion. The final fee is outlined in our investment management agreement. Additionally, we reserve the right to reduce management fees based on specific criteria we deem pertinent (e.g., preexisting relationships, related accounts). Please review the Types of Clients section for details regarding our minimum investment requirements. 2. Stand-Alone Limited Engagement Financial Planning Services Our fixed fees for stand-alone limited engagement financial planning services range from $2,000 to $10,000, with a minimum fee of $2,000. Beyond the minimum, our fees are negotiable, and the final fee is detailed in our financial planning agreement. Our fee assessment considers qualitative factors such as life stage, the complexity of the client’s financial situation, whether the written financial plan is comprehensive or focuses on a specific planning matter (e.g., consumption and debt planning only or retirement benefits optimization only), the client’s requests and needs, and the level of detail required for the financial plan or planning report. Upon engagement for stand-alone limited financial planning, clients receive a best-efforts advisory fee estimate. We provide this estimate for client approval and acceptance. The best-efforts fee estimate reflects the most advantageous fee structure based on the scope of services, the complexity of the client’s financial matters, or the client’s requests and needs. An initial payment of fifty percent (50%) of this estimate is due, with the remaining balance payable upon delivery of the financial plan or planning report. A written financial plan or planning report will be delivered within three (3) months from the commencement of the engagement. CEG BROCHURE 5  Capital Endurance Group, Inc. Billing Procedures Our billing procedures for advisory services are as follows: 1. Billing for Comprehensive Wealth Management Services Our comprehensive wealth management services fee is an annual asset-based advisory fee. Advisory fees are due and payable quarterly in advance (at the beginning of the billing period). We calculate advisory fees using the aggregate value of all accounts for each client (e.g., household). Upon signing our investment management agreement, clients provide written authorization to have advisory fees deducted directly from their specified advisory account(s). We send the advisory fee calculations to the account custodian electronically, no later than one week after the beginning of each calendar quarter. Advisory fee calculations are based on the value of assets in the account(s), including cash equivalents, at the closing price on the last trading day of the calendar quarter, as listed on a national securities exchange or the principal market where the securities are traded and supplied by the account custodian. Additionally, billing valuations for fixed income securities often include accrued interest. Furthermore, margin interest, if applicable, will accrue monthly. It is also important to note that due to differences in valuation dates (trade date vs. settlement date), application of credits for accrued income, and/or accrued interest, if applicable, asset values used for advisory fee billing can differ from the asset values shown on the account custodian’s statement. Please contact us if you have questions regarding advisory fee billing calculations. Additionally, if we recommend alternative investments, advisory fees are assessed in accordance with the comprehensive wealth management services fee schedule outlined in the Fees and Compensation Section. The value of any alternative investment, which generally reflects the initial purchase (or the most recent valuation reported by the issuer or account custodian), is included in the value of a client’s aggregate “assets under management” (i.e., included with the value of all advisory accounts) when calculating advisory fees. 2. Billing for Stand-Alone Limited Engagement Financial Planning Services Our fees for stand-alone limited engagement financial planning services are billed in advance. Upon engagement for stand-alone financial planning services, we provide clients with a best-efforts advisory fee estimate based on the anticipated services for review and approval. Upon the client’s acceptance of the estimate, a fifty percent (50%) deposit of the financial planning fee is due to us before commencing services. The remaining balance is due upon delivery of the financial plan or planning report. Financial plans and planning reports are delivered within three (3) months of commencing services. Upon delivering the financial plan or planning report, we provide a final advisory fee invoice that delineates the total stand-alone limited engagement financial planning services fee, the application of the fifty percent (50%) deposit paid, and the remaining balance due for services. Advisory fee invoices are transmitted to clients in person, electronically, or by mail, and payment is due within thirty (30) days of the invoice date. Clients pay the final advisory fee invoice by mailing a check to our address. Other Fees & Expenses Clients will also incur additional costs and expenses (“third-party fees”) related to investment management and advisory services. These fees may include, but are not limited to, no-load mutual fund ticket charges, brokerage transaction costs, deferred sales charges on previously purchased mutual funds, individual retirement account (IRA) maintenance fees, and other legal or transfer fees. The account custodians, broker- dealers, mutual fund companies, and other providers of account services charge these fees, and clients are responsible for all third-party fees and expenses. In addition to the third-party fees outlined above, clients incur other expenses that result from fees charged by the investment companies that issue mutual funds, exchange-traded funds, and money market funds to which client assets are allocated. As of the date of this Brochure, our account custodians do not charge transaction fees for trades in U.S. exchange-listed equities and exchange-traded funds. Nonetheless, mutual funds, exchange-traded funds, and money market funds have internal fees and expenses, as detailed in each fund company’s prospectus, where applicable. These fees and expenses are paid by mutual funds or investment companies but are ultimately passed on to clients through each fund’s expense ratio. Advisory fees paid to our firm are separate from the third-party fees detailed above. Please also see Item 12, Brokerage Practices, for details about the qualified account custodians that provide custody and safekeeping services for our clients’ accounts. CEG BROCHURE 6  Capital Endurance Group, Inc. Refund Policy Clients who do not receive this Brochure at least forty-eight (48) hours in advance of signing our advisory agreement are afforded the right to terminate their agreement within five (5) business days, without penalty. Upon expiration of the five (5) business day period, our refund procedures are as follows: Comprehensive Wealth Management Clients may terminate our investment management agreement at any time by providing us with thirty (30) days’ advance written notice. Upon receipt of a termination request, we will assess fees pro rata to the date of termination. We refund any unearned portion of prepaid fees within fourteen (14) business days. Any balance for unpaid fees due to our firm will be collected prior to the disbursement of refunds, if applicable. If we are unable to deduct final advisory fees from a client’s advisory account(s), such as in the case of an account transfer, we will transmit a final advisory fee invoice to the client, which is due upon receipt. Clients pay final advisory fee invoices by mailing a check to our address. Stand-Alone Limited Engagement Financial Planning Under the terms of our financial planning agreement, our financial planning services are complete upon the delivery of a written financial plan or planning report. If required, clients must enter into a new agreement for supplemental financial planning services. Nonetheless, clients may terminate services prior to the end of the engagement by providing thirty (30) days’ prior written notice to our firm. Upon receiving a client’s request to terminate our financial planning services prior to the end of the engagement, we will assess advisory fees pro rata as of the date of receipt of the notice of termination using the hourly rate of $350 and the number of business days remaining until delivery of the financial plan or planning report as outlined in the financial planning agreement. We will refund any unearned portion of prepaid advisory fees within fourteen (14) business days of the date of termination. Advisory fee refunds will be issued by check and mailed to the client’s address of record. Other Compensation We do not accept any compensation for the sale of securities or other investment products. Our investment advisor representatives are not registered in any securities sales capacity. PERFORMANCE-BASED FEES AND SIDE-BY-SIDE MANAGEMENT (Item 6) Our firm does not charge performance-based fees or conduct side-by-side investment product management. TYPES OF CLIENTS (Item 7) We generally provide investment advice to individuals and high net worth individuals. We require a minimum investment value of $2,000,000 for comprehensive wealth services engagements. Nonetheless, we reserve the right to waive the minimum investment requirement based on other criteria we deem pertinent (e.g., preexisting relationships, related accounts, the anticipation of additional assets within the next twelve (12) months, etc.). Therefore, some clients may have investment values below the stated minimum. METHODS OF ANALYSIS, INVESTMENT STRATEGIES, AND RISK OF LOSS (Item 8) Methods of Analysis and Investment Strategies We have experience researching and investing in all types of securities and asset classes, including stocks, mutual funds, exchange traded funds, convertible securities, U.S. government securities, corporate bonds, other fixed-income securities, warrants, commodities, currencies, and real estate related assets. Tenets of Investment Philosophy Utilizing advances in Modern Portfolio Theory (“MPT”), we attempt to reduce uncompensated risks in portfolios by selecting asset classes whose risks increase expected returns over time. We determine asset location based on the tax sensitivity of the underlying security and the availability of tax-favorable investment vehicles. We invest in low-cost and low-turnover securities that focus on individual asset classes with little or no style drift. We typically recommend mutual funds and exchange-traded funds for client portfolio holdings, and, occasionally, if suitable, fixed income securities, options, and alternative investments. We generally implement advice using a range of investment strategies, including long-term purchases, short- term purchases, active trading, and short sales. We may increase the number and extent of a portfolio’s “long” positions by borrowing (e.g., purchasing securities on margin). Quantitative analytics are utilized in some of CEG BROCHURE 7  Capital Endurance Group, Inc. our investment activities to select securities or manage investment risk. Also, if and when implemented, our option strategies include covered options, uncovered options, spreads, and straddles. As mentioned above, depending on a client’s specific financial goals and circumstances, we may also recommend unaffiliated third-party alternative investments to augment a client’s portfolio holdings. Some alternative investments include liquid alternatives, such as publicly traded real estate investment trusts, and illiquid alternatives, such as interests in private placement offerings, hedge funds, or private equity funds. Our due diligence processes for alternative investments include, but are not limited to, reviewing the issuer’s offering, pricing criteria, financial strength, reputation, investment strategy, performance, liquidity, and reporting methodologies, among other factors. When considering alternative investments as a holding for client portfolios, we review a client’s financial circumstances, net worth, annual income, and overall investment goals. Moreover, we generally limit alternative investment holdings to ten percent (10%) or less of a client’s portfolio holdings. Alternative investment strategies are only recommended to clients who meet the financial parameters of an accredited investor or qualified client. Clients are not obligated to consider investments in alternative strategies. Material Risks of Methods of Analysis and Investment Strategies INVESTING IN SECURITIES INVOLVES A RISK OF LOSS THAT CLIENTS SHOULD BE PREPARED TO BEAR. CLIENTS MAY LOSE ALL OR A SUBSTANTIAL AMOUNT OF THEIR INVESTMENT. Notwithstanding the method of analysis or investment strategy employed, there is no guarantee that portfolio holdings or investment assets will achieve the desired investment objectives. Clients can lose money by investing based on our strategies, and the client alone will bear such losses. The value of a client’s portfolio holdings may be affected by one or more of the following risks, any of which could cause a portfolio’s return, price of shares, or yield to fluctuate: v General Market Risk. Markets fluctuate, moving up or down based on news releases or, at times, for no apparent reason. This uncertainty means that, at times, the price of specific securities may increase or decrease without a discernible reason and may take a while to recover any lost value. Adding additional securities to the portfolio might not lower this risk, as all securities can be affected by market swings. Market fluctuations will ultimately affect a client’s portfolio holdings. v Quantitative Tools Risk. Some of our investment techniques incorporate or rely upon quantitative models. There is no guarantee that these models will generate accurate forecasts, reduce risks, or otherwise produce the intended results. We review the accuracy of our models periodically. v Interest Rate Risk. Changes in interest rates will affect the value of fixed income investment holdings. The value of fixed income securities is more inclined to decrease as interest rates increase. This decrease in value may not be offset by income from new investments or other investment holdings. Interest rate risk is generally greater for fixed income securities with longer maturities. v Credit Risk. Generally, the degrees of risk for fixed income assets are reflected in their credit rating. Issuers or guarantors of investment assets may be unable or unwilling to make timely payments of interest or principal or honor their obligations otherwise. The issuers or guarantors may default, resulting in a loss of the full principal amount of fixed income assets. There is a risk that the credit rating of a fixed income asset may experience a downgrade after purchase, which could adversely affect its value and investment holdings. v Asset Allocation Risk. The asset classes represented in the composition of a client’s portfolio can perform differently from each other at any given time and over the long term. A client’s investments will be affected by allocating equity securities (e.g., stocks, mutual funds, exchange-traded funds, etc.), cash equivalents, fixed income securities, and occasionally alternative investments. If any asset class that comprises a client’s holdings underperforms, the performance of other asset classes may suffer. v Time Horizon Risk. A client may require the liquidation of portfolio holdings earlier than the stated time horizon. If liquidations occur when portfolio values are low, the client will not realize as much value as the client would have if the portfolio holdings had the opportunity to gain value (or regain value) as investments frequently do. v Liquidity Risks. Liquidity risks arise when portfolio holdings or assets cannot easily be converted to cash. Liquidity refers to the ability to quickly transform an investment into cash. Investments that lack liquidity are difficult to buy or sell at favorable prices. Some investment vehicles are very liquid, while others are not. For example, Treasury Bills are highly liquid, whereas real estate is not. An illiquid investment carries greater risk than other types of securities, as it may be difficult to sell illiquid investments at fair market value. CEG BROCHURE 8  Capital Endurance Group, Inc. Margin Risk. Margin is a loan issued to clients that permits leverage of current portfolio holdings, increases buying power for additional positions/investments, facilitates advanced trading strategies (e.g., options, short sales, etc.), or uses it as a line of credit. When margin is used as leverage, clients seek to enhance returns. Leverage can be described as exposure to changes in the price of an investment at a ratio greater than 1:1 relative to the amount invested. Clients who elect to trade on margin will enter into a separate agreement directly with the account custodian’s clearing firm. If a client requests margin and the strategy aligns with the investment goals that our firm has implemented, we will instruct the client to complete and submit the account custodian’s margin application for approval. Using margin as leverage magnifies both the favorable and unfavorable effects of price movements in the investments placed on margin, which may subject the portfolio holdings to a substantial risk of loss. If there is a sudden, steep drop in the value of one or more portfolio holdings, the aggregate value of a client’s holdings may also decline. An additional risk is that we may not be able to liquidate assets quickly enough to meet margin or borrowing obligations during market declines. The obligation to meet additional margin or other payment requirements could worsen as the value of portfolio holdings declines. Also, because acquiring and maintaining portfolio holdings on margin allows a client to hold positions worth significantly more than the investment in those positions, the amount a client stands to lose in the event of adverse price movements is higher relative to the amount of the investment. Also, since margin is a loan subject to interest, using margin increases account expenses. Clients should refer to the margin agreement with the account custodian’s clearing firm for all terms and conditions of a margin arrangement, including all related fees and expenses. v Option Transactions Risk. Options are subject to risk factors that include but are not limited to volatility, lack of liquidity in underlying markets, state of the economy, and any legal, political, or geographic event that impacts the underlying security. The buying or selling of options involves the payment or receipt of a premium payment and the corresponding right or obligation, as the case may be, to either purchase or sell the underlying security for a specific price at a certain time or during a certain period. Purchasing options involves the risk that the underlying security does not change in price in the manner expected so that the option expires worthless, and the investor loses the premium. On the other hand, selling options involves potentially greater risk because the investor is exposed to the actual price movement in the underlying investment in excess of the premium payment received. For more information regarding the risks associated with options, please read the Characteristics and Risks of Standardized Options brochure, available at the website: www.theocc.com. v Fixed Income Securities Risk. Fixed income securities include bonds or other securities issued or guaranteed by the U.S. government (its agencies), or U.S. government-sponsored enterprises, states, territories, local governments (and their agencies), and corporate debt securities of issuers, including convertible securities and corporate commercial paper (e.g., U.S. Treasury securities, U.S. Agency securities, municipal bonds, investment grade bonds, non-investment grade bonds, etc.). The market value of fixed-income securities is sensitive to changes in interest rates. Generally, when interest rates rise, the value of fixed income securities declines, and when interest rates decline, the market value increases. Usually, the longer the remaining maturity of a fixed income security, the greater the effect of interest rate changes on the market value. In addition, changes in the issuer’s ability to make payments of interest and principal and the market’s perception of an issuer’s creditworthiness can affect the market value of its fixed- income securities. Fixed income securities are also subject to inflation, liquidity, and reinvestment risks. Inflation risk is the risk that inflation will erode the purchasing power of the cash flows generated by debt securities. Fixed- rate debt securities are more susceptible to inflation risk than floating-rate debt securities. Liquidity risk is the risk that certain fixed income securities may be difficult to sell at a particular time or at an acceptable price, which may cause a client’s portfolio to hold these securities for longer periods than planned or forgo other investment opportunities, which creates a reinvestment risk. v Municipal Securities Risk. Municipal securities issuers may face local economic or business conditions (including bankruptcy) and litigation, legislation, or other political events that could significantly affect the ability of the municipality to make payments on the interest or principal of its municipal bonds. Municipalities issue municipal securities to finance projects, such as education, healthcare, transportation, infrastructure, and public services, and conditions in those sectors can affect the overall municipal bond market. Moreover, changes in the financial condition of one municipality may affect the overall municipal bond market. The municipal obligations in which clients invest are subject to credit risk, market risk, interest rate risk, credit spread risk, selection risk, call and redemption risk, and tax risk, and the occurrence CEG BROCHURE 9  Capital Endurance Group, Inc. of any one of these risks may materially and adversely affect the value of a client’s portfolio holdings or assets. v Investment Company Securities Risk. Investments in investment company securities such as mutual funds, exchange-traded funds (“ETFs”), and/or closed-end mutual funds have risks. This risk disclosure focuses on mutual funds, including closed-end mutual funds. See specific details regarding the risks associated with ETFs below. The risks associated with investing in mutual funds and closed-end mutual funds involve substantially the same risks as investing directly in the underlying securities (i.e., general market risks, interest rate risks, financial risks, time-horizon risks, liquidity risks, etc.). There are also risks that mutual funds and closed-end mutual funds may not achieve their investment objective or execute their investment strategy effectively, which may adversely affect the performance of a client’s portfolio. Additionally, clients pay a pro rata portion of the fees, expenses, and taxes associated with investment company securities, which will likely impact the value of a client’s portfolio holdings. v Exchange-Traded Funds Risk. There are risks associated with investing in exchange-traded funds (ETFs). ETFs are offered for all asset classes, industries, sectors, and markets. There are two (2) general management styles for ETFs: passive and active. Details regarding the management techniques and associated risks are as follows: Passively Managed ETFs represent an interest in a portfolio of securities designed to track an underlying benchmark or index. These ETFs typically seek to track an underlying benchmark or index; the ETF may or may not hold all securities in the underlying benchmark or index. ETFs are also subject to price variations. ETFs trade throughout the day, and market prices are generally at or near the most recent net asset value (NAV). However, certain market inefficiencies may cause the shares to trade at a premium or discount to the stated NAV. For example, a high volume of market sales may cause ETFs to trade at a price below the value of the underlying NAV. Actively Managed ETFs are designed to outperform an index. These portfolios generally expose a high percentage of net assets to a fixed list of investments (e.g., U.S. exchange-listed equity securities, U.S. exchange-traded funds that provide exposure to U.S. exchange-listed equity securities, U.S. exchange-listed equity securities of non-U.S. issuers, including the securities of non-U.S. issuers traded on U.S. exchanges in the form of depository receipts, etc.). The ETF may also have exposure to futures, other derivatives, and long and short positions, which may not perform as expected. These securities are subject to the risk that they may not effectively outperform an index, industry, or other markets they intend to outperform. In addition to the risk that portfolio expenses reduce returns, there is the risk that ETF portfolio managers’ strategies are unsuccessful, that the investment is illiquid or has low trading volume, and that it may not perform as expected, resulting in losses. Moreover, as with any security, there is no guarantee that an active secondary market for such ETF shares will continue to exist. Also, the redemption of ETFs can be limited. Only an authorized participant (typically broker-dealers that act as liquidity providers) may engage in the creation or redemption transactions of an ETF. Furthermore, ETFs typically have a limited number of broker-dealers that may act as authorized participants. To the extent that authorized participants exit the business or are unable to proceed with creation or redemption orders, and no other authorized participant can step forward, the liquidity of an ETF is likely to be impacted and could result in trading halts or delisting. v Nontraditional Exchange-Traded Fund Risk. Nontraditional exchange-traded funds (ETFs) include leveraged, inverse, or inverse-leveraged ETFs. Levered ETFs seek to deliver multiples of the performance of an underlying index or benchmark for a specified period (usually a single day). Inverse ETFs are generally “short positions” seeking to deliver the opposite of an underlying index or benchmark for a specified period of time. Inverse-leveraged ETFs seek to deliver multiples of the opposite of an underlying index or benchmark for a specified period. Due to the effect of compounding, their performance over more extended periods of time can differ significantly from the performance, which can be magnified in volatile markets. Inverse ETFs reset daily and are designed to achieve their stated objectives daily. Nontraditional ETFs are not long-term investments. They are extremely speculative and can be quite volatile. Investments in nontraditional ETFs should be monitored daily to ensure that the risks associated with such investments remain appropriate for a client’s portfolio holdings, especially during volatile markets when risks intensify. v Bitcoin ETF Risk. Bitcoin and other cryptocurrencies, also referred to as “virtual currency,” “digital currency,” or “digital assets,” have no true or actual value but act as a medium of exchange where algorithms or specific peer-to-peer communities determine its value. If suitable for a client, we will purchase a Bitcoin ETF or other ETFs that invest in bitcoin and other cryptocurrencies. Therefore, clients will have exposure CEG BROCHURE 10  Capital Endurance Group, Inc. to bitcoin or other cryptocurrencies, directly or indirectly, through an investment such as an ETF or other investment vehicles. Bitcoin ETFs do not invest in digital assets directly. These ETFs use derivatives such as Spot Bitcoin markets to value an ETF that invests in digital assets is likely to be highly volatile and subject to fluctuations due to several factors, including the price of bitcoin, manipulative trading activity on digital asset exchanges, which, in many cases, are largely unregulated, investor sentiment and expectations with respect to interest rates, the rates of inflation, and trading activities of large investors that invest directly or indirectly in bitcoin. Generally, the investment objective of Bitcoin ETFs is to reflect the performance of the spot price of bitcoin as measured using a benchmark, less expenses, and other liabilities. The value of bitcoin is determined based on the fair market value price for bitcoin, which reflects the execution price of bitcoin on the principal market where it is traded, as determined by independent third-party digital asset data companies that provide the benchmark. The market price of bitcoin and other cryptocurrencies has been subject to extreme fluctuations and has experienced losses. Purchases of Bitcoin ETFs or ETFs that invest in other digital assets are highly speculative and only suitable for clients whose financial circumstances can endure a loss of the entire investment. The ETF will typically process all creations and redemptions in transactions with financial firms that are authorized participants. Creation and redemption transactions will initially take place in cash. The authorized participants will deliver only cash to create shares and will receive only cash when redeeming shares. If a broker-dealer or account custodian charges commissions, buying or selling shares of the ETF will incur customary brokerage commissions and charges. Trades may occur at a premium or discount relative to the net asset value (NAV) per share of the ETF. Nonetheless, authorized participants may cease to operate or shut down if the exchanges are subject to fraud, technical glitches, hackers, or malware. Bitcoin ETFs or ETFs that invest in other digital assets or virtual currency involve significant risks, and such risks are similar to those involved with direct investment in digital assets or virtual currency, which are speculative securities. These investments also involve various additional risk factors, including, but not limited to, the potential for complete loss of principal, liquidity constraints, and lack of transparency. v General Risks Related to Digital Assets. Digital assets, such as bitcoin and other cryptocurrencies, often referred to as “virtual currency” or “digital currency,” are mediums of exchange without actual value. These assets are not backed by a government issued legal tender, and its worth is determined by online, peer-to- peer networks where ownership and behavior are governed by participants. Digital currency exists on a blockchain, a type of shared and continually reconciled database that stores digital assets in a decentralized manner on the computers of certain users. Price or Value Disparities. The price of digital assets is unstable and often impacted by the behavior of a small number of influential individuals or companies. The historical volatility of digital assets may be due to speculation regarding potential future appreciation in value, which could adversely affect prices. The potential for a rapid decline in the value of these assets is driven by the speculative nature and the influence of a few key individuals or entities on the price. Regulatory Risk. Investors are not granted ownership rights in digital assets in the same manner as traditional investments that trade on regulated exchanges. Additionally, investors do not benefit from protections associated with federal and state securities laws. Furthermore, the uncertain and potentially changing tax treatment of digital assets could negatively impact the value of digital assets. Cybersecurity Risk. Certain digital asset networks are subject to control by entities that capture a significant amount of the network’s processing power, a significant percentage of the digital assets issued and outstanding, or a significant number of developers or intermediaries important for the operation and maintenance of such digital asset network. Blockchain networks secured by a proof-of-work algorithm depend on the strength of the processing power of participants to protect the network. If a malicious actor or botnet (a volunteer or hacked collection of computers controlled by networked software coordinating the actions of the computers) obtains a majority of the processing power dedicated to mining on a digital asset network, it may be able to alter the blockchain on which the network and most transactions rely by constructing fraudulent blocks or preventing certain transactions from completing in a timely manner, or at all. The malicious actor or botnet could control, exclude, or modify transactions. A significant disruption in internet connectivity could also disrupt a digital asset’s network operations until the disruption is resolved, thereby having an adverse effect on the price of digital assets. Investments in digital assets directly or indirectly involve various additional risk factors, including the potential for liquidity constraints and the complete loss of principal. CEG BROCHURE 11  Capital Endurance Group, Inc. v Alternative Investment Risk. Investments in alternative securities include liquid options like business development companies and publicly traded real estate investment trusts. Illiquid alternatives include interests in private equity funds, hedge funds, special purpose vehicles, and private real estate investment trusts, among others. Alternative investments are customarily illiquid. Usually, these investments are issued by companies that are not publicly traded, and consequently, in most cases, there is generally no public market for the shares or interests. Alternative investments are long-term investment vehicles that are highly speculative and suitable only for clients whose financial circumstances can endure significant losses. Investing in alternative strategies involves additional risks, including, but not limited to, the potential for complete loss of principal, liquidity constraints, and lack of transparency. v Risks Related to Private Funds. Private Funds are faced with regulatory risks in that interests in the Private Funds generally are not registered under federal or state securities laws, nor are they subject to regulation by the SEC or other regulators. In addition, when investing in Private Funds, Clients may not be protected by federal or state securities laws other than certain anti-fraud provisions of those laws. There are also concentration risks, in that certain Private Funds may not establish concentration limits with respect to particular securities, industries, or sectors. Investment strategy risk exists in that Private Funds may concentrate their investments in a limited number of securities or other interests, including securities that are not publicly registered, listed, or traded, which invests in Private Funds is highly speculative and risky. Private Funds also lack liquidity because interests are generally illiquid, and no market may exist for the Private Funds’ interests. There are substantial restrictions with respect to their transferability and resale. There are also risks related to the lack of transparency. Private Fund investors may receive limited information due to proprietary or confidentiality concerns. Additional information about applicable risks is outlined in a Private Fund’s term sheet, private placement memorandum, or other offering document or disclosure document provided in connection with an investment in such a Private Fund. Clients are encouraged to read those risk disclosures carefully. This information is qualified in its entirety by reference to the respective risk disclosures, and in the event of any conflict or inconsistency, clients and investors should rely on the respective risk disclosures. v Exchange-Traded Notes Risk. Exchange-traded notes (ETNs) are subject to credit, liquidity, and supply risks. ETNs are senior, unsecured, unsubordinated debt securities whose returns are linked to the performance of a particular benchmark or strategy minus applicable fees. ETNs are traded during regular trading hours; however, clients can also hold the ETN until maturity. At maturity, the issuer pays clients a cash amount equal to the principal amount, subject to the day’s benchmark or strategy factor. ETNs do not make periodic coupon payments or provide principal protection. ETNs are subject to credit risk, and the value of the ETN may drop due to a downgrade in the issuer’s credit rating, despite the underlying benchmark or strategy remaining unchanged. The value of an ETN may also be influenced by time to maturity, level of supply and demand, volatility, and lack of liquidity in underlying assets, changes in the applicable interest rates, changes in the issuer’s credit rating, and economic, legal, political, or geographic events that affect the referenced underlying asset. When clients invest in ETNs, their portfolio will bear its proportionate share of any fees and expenses borne by the ETN. The availability of a secondary market may limit our decision to sell an ETN portfolio holding. ETNs are also subject to tax risk. The government and tax agencies may implement changes to the tax code that change the timing and character of income and gains from ETNs. There may also be times when ETN shares trade at a premium or discount to the benchmark or strategy. v Risks Related to Real Estate Investment Trusts. Investing in publicly traded real estate investment trusts (REITS) involves risks similar to those associated with investing in the real estate industry. The performance of publicly traded REITS depends on the types, values, and locations of the properties it owns and how well those properties are managed. Some general risks include but are not limited to possible declines in the value of real estate, variations in rental payments, changes in interest rates, general and local economic conditions, increases in the rate of inflation, increases in property taxes and operating expenses, changes in zoning laws, costs resulting from the cleanup of environmental problems, and uninsured damages from floods, earthquakes or other natural disasters. Since REITS may be invested in a limited number of projects or a particular market segment, these investments may be more susceptible to adverse developments affecting a single project or market segment than more broadly diversified investments. Additionally, loss of status as a qualified real estate investment trust under the U.S. federal tax laws could adversely affect the value of a particular real estate investment trust or the market for REITS. CEG BROCHURE 12  Capital Endurance Group, Inc. v Risks Related to Public Health Issues. Our advisory business could be adversely affected materially by pandemics, epidemics, and global or regional outbreaks of disease, such as but not limited to COVID-19, Ebola, H1N1 flu, H7N9 flu, H5N1 flu, or Severe Acute Respiratory Syndrome (SARS). Significant public health issues, including any occurrence or recurrence (or continued spread) of an outbreak of any epidemic, infectious disease, or virus, could cause a slowdown in the levels of economic activity generally (or cause the global economy to enter into a recession or depression), which could adversely affect our advisory business, financial condition, and operations. Should these or other major public health issues arise or materially impact the day-to-day lives of persons around the globe, our firm could be adversely affected by more stringent travel restrictions, additional limitations on operations, or business and/or governmental actions limiting the movement of people between regions and other activities or operations. v Reliance on Advisor. The performance of clients’ portfolio holdings depends on the skill and expertise of our professional staff to make appropriate investment decisions. The success of client portfolios depends on our firm’s ability to develop and implement investment strategies and apply investment techniques and risk analyses to achieve a client’s investment objectives. Our firm’s subjective decisions may cause portfolios to incur losses or miss profit opportunities that may otherwise have been capitalized. For example, our portfolios may include customized investment features that may impact the implementation of specific investment strategies. Additionally, as financial markets evolve, we may invest in other securities when consistent with the specific portfolio strategy. v Business Continuity Risk. In the event of a significant business disruption, unforeseeable event, or natural disaster that causes a total or partial outage affecting our offices or a technical problem affecting applications or networks, our advisory activities may be adversely impacted. Service providers may also fail to perform, and any disruption in the infrastructure that supports our operations may curtail our ability to conduct business. To mitigate such risks, we have adopted a business continuity plan to implement recovery strategies designed to maintain critical functions and limit the impact of any business interruption or disaster on client activities or business transactions. v Cybersecurity Risk. Our advisory services depend on various computer and telecommunication technologies, many of which are provided by or are dependent on third-party service providers. Our ability to operate successfully could be severely compromised by a system or component failure, delays in data transmission, telecommunication failure, power loss, a software-related system crash, unauthorized system access or use (such as “hacking”), computer viruses, worms, and similar programs, fire or water damage, human errors in using or accessing relevant systems, or various other events or circumstances. These events may impact trading processes for client advisory accounts. It is not possible to provide comprehensive and foolproof protection against all such events. We cannot provide any assurance about the ability of applicable service providers to continue providing services. Any event that interrupts our computers, telecommunication systems, or operations could compromise our services for an extended time period and cause client advisory accounts to experience losses, including preventing trading, modifying, liquidating, and/or monitoring the portfolios. In general, cyber incidents can result from deliberate attacks or unintentional events and are not limited to gaining unauthorized access to digital systems, misappropriating assets or sensitive information, corrupting data, or causing operational disruption, including denial-of-service attacks on websites. Cybersecurity failures or breaches that affect our advisory services or service providers can cause disruptions to our operations, potentially causing clients to experience financial losses, the inability to access advisory accounts, and other damages. While the foregoing information provides a synopsis of the risks that may affect investments, many other circumstances not described herein could adversely affect the value of investments and portfolio holdings and prevent client portfolio holdings or assets from reaching the stated objective. Recommendation of Specific Types of Securities We do not focus our advice on or make recommendations relative to any particular type of security. Our advice encompasses an array of securities and investment vehicles. DISCIPLINARY INFORMATION (Item 9) Neither our firm nor management personnel has been involved in any industry-related legal or disciplinary event. CEG BROCHURE 13  Capital Endurance Group, Inc. OTHER FINANCIAL INDUSTRY ACTIVITIES AND AFFILIATIONS (Item 10) Financial Industry Activities We are not a registered broker-dealer and do not have an application pending to register. Additionally, neither our management personnel nor investment advisor representatives are registered as or have applications pending to register as registered representatives of a broker-dealer. Financial Industry Affiliations Neither our firm, principal owner, nor investment advisor representatives are registered as a futures commission merchant, commodity pool operator, or commodity trading advisor, nor do they have an application pending to register. Other Affiliations We do not have arrangements with a related person that is a broker-dealer, municipal securities dealer, government securities dealer or broker, investment company, or other pooled investment vehicle (including mutual fund, closed-end investment company, unit investment trust, private investment company, or “hedge fund,” and offshore fund), other investment advisor or financial planner, futures commission merchant, commodity pool operator, or commodity trading advisor, banking or thrift institution, accountant or accounting firm, lawyer or law firm, pension consultant, real estate broker or dealer, sponsor or syndicator of limited partnerships not already disclosed herein. Please also review Item 4, Other Business Activities, of each Representative’s Brochure Supplement. Other Investment Advisers We do not recommend other investment advisors to our clients. CODE OF ETHICS, PARTICIPATION, OR INTEREST IN CLIENT TRANSACTIONS AND PERSONAL TRADING (Item 11) Code of Ethics We require that all employees of Capital Endurance Group act ethically and professionally. Our management persons, investment advisor representatives, and other employees (collectively, “personnel”) subscribe to a strict code of professional standards and ethics ("Code of Ethics"). Our Code of Ethics is constructed to comply with the investment advisory laws and regulations that require firms to act as fiduciaries in transactions with their clients. Our inherent fiduciary duty requires that we act solely in our clients’ best interests and adhere to standards of utmost integrity in our communications and transactions. These standards ensure that clients’ interests are given precedence. Accordingly, we have implemented comprehensive policies, guidelines, and procedures that promote ethical conduct and practices by all personnel. The foregoing has been compiled and is collectively referred to as our Code of Ethics. We adopted our Code of Ethics to specify and prohibit certain types of transactions that create conflicts of interest (or perceived conflicts of interest) and establish reporting requirements and enforcement procedures related to personal securities transactions by our personnel. Our Code of Ethics, which specifically emphasizes our fiduciary duty, professional standards, insider trading, personal trading, and gifts and entertainment, establishes our ideals for ethical conduct based on the fundamental principles of openness, integrity, honesty, and trust. We will provide a copy of our complete Code of Ethics to any client or prospective client upon request. Participation or Interest in Client Transactions We do not recommend that clients buy or sell securities in which our firm, an affiliate, or a subsidiary has a material financial or ownership interest. Personal Trading Proprietary Trading At times, we buy or sell securities for our employees’ personal accounts that we recommend to clients. We document any transactions that could be construed as a conflict of interest. Conflicts of interest relative to trades for our employees (“personal accounts”) may present in many different contexts. Some conflicts of interest related to personal trades include trading ahead to obtain a better transaction execution price than clients, recommendations or trades based on financial interest, trading on information that is not available to CEG BROCHURE 14  Capital Endurance Group, Inc. the public, or structuring transactions in a manner so that the results are profitable for employees’ accounts. To mitigate or remedy any conflicts of interest or perceived conflicts, we monitor internal trading reports for adherence to our Code of Ethics. Simultaneous Trading We are likely to buy or sell investments for the personal accounts of our employees at or around the same time as clients. As summarized above, our Code of Ethics requires us to (1) act in accordance with all applicable federal and state regulations, (2) act in the best interest of clients, (3) preclear transactions in private placements or initial public offerings, and (4) review personal securities transactions by employees to confirm adherence. Our chief compliance officer performs the personal securities transaction reviews. In any instance where similar securities are purchased or sold, we will uphold our fiduciary duty by ensuring that transactions benefit our clients’ interests. BROKERAGE PRACTICES (Item 12) Selection and Recommendation Capital Endurance Group recommends account custodians after evaluating several factors. These factors include, but are not limited to, relatively low fees and expenses, execution capabilities, reputation, access to securities markets, and expertise in handling brokerage support processes. We may also consider the availability of other products and services that benefit our clients, many of which are not typically available to retail (nonadvisory) clients. Our firm maintains custodial services agreements with Fidelity Brokerage Services, Inc. (“Fidelity”) and Charles Schwab & Co. (hereinafter, “Schwab”). Fidelity and Schwab are registered broker-dealers (members of FINRA and SIPC). These firms are qualified account custodians (“account custodians”). We are participants of Fidelity’s and Schwab’s institutional services platforms for independent investment advisors. Schwab’s platform is known as Schwab Advisor Services™. Fidelity’s platform is known as Fidelity Wealth Institutional Services or “FWIS”. Capital Endurance Group is independently owned and is not affiliated with Fidelity or Schwab. We recommend an account custodian based on the best fit for our clients, which includes an evaluation of cost implications and a client’s previous custodial relationships. While we recommend that clients use Fidelity or Schwab as account custodians, clients ultimately decide whether to do so and open an account by entering into an account agreement directly with Fidelity or Schwab. We do not open the account, although we may assist clients in doing so. As outlined in the Other Fees & Expenses section, there are other costs and expenses related to managing the investment assets of clients’ accounts and advisory service provisions. More Information About Schwab Schwab does not generally charge clients separately for custody services. It is usually compensated by charging transaction fees on trades and assessing account maintenance fees. Schwab is also compensated by the interest it earns on the uninvested cash (i.e., Schwab money market mutual funds) in client accounts and may be compensated by a client’s investments in other products and services offered through Schwab Advisor Services™. Schwab also makes other products and services available that benefit our firm but may not directly benefit clients’ accounts. Services provided by Schwab are not otherwise contingent upon our firm committing any specific amount of business to Schwab. The products and services assist us in managing and administering our clients’ accounts. Such services include investment research, both Schwab’s own and that of third parties. We may use this research to service all or a substantial number of clients’ accounts, including accounts not maintained at Schwab. In addition to investment research, Schwab also makes available software and other technology that: • Provides access to client account data (such as duplicate trade confirmations and account statements) Facilitates trade execution and allocates aggregated trade orders for multiple client accounts Provides pricing and other market data Facilitates the payment of our fees from our clients’ accounts • • • • Assists with back-office functions, recordkeeping, and client reporting CEG BROCHURE 15  Capital Endurance Group, Inc. Additionally, Schwab offers other services to help us manage and develop our business enterprise further. These services include: Educational conferences and events Consulting on technology, compliance, legal, and business needs Publications and conferences on practice management and business succession • • • • Access to employee benefits providers, human capital consultants, and insurance providers • Marketing consulting and support Our firm may receive some of the services listed above, and in other cases, Schwab will arrange for third-party vendors to offer these services. Schwab may also discount or waive its fees for some of the services or pay all or a part of a third party’s fees. Schwab may also provide us with other benefits, such as the occasional business entertainment of our personnel. Fidelity’s support services and benefits are similar to Schwab’s. Both platforms provide ancillary soft dollar benefits to support our clients’ advisory accounts and certain operational processes. The ancillary soft dollar benefits include but are not limited to duplicate client confirmations and bundled duplicate statements, access to a trading desk serving platform participants exclusively, access to block trading, which provides the ability to aggregate securities transactions and then allocate the appropriate shares to client accounts, mechanisms to facilitate the deduction of advisory fees directly from client accounts, access to an electronic communication network for order entry and account information; receipt of compliance publications, and access to other products and services that are generally available to only institutional platform participants. Therefore, based on our established service agreements, cost implications, operational support, custodial, and other services, we will recommend either Fidelity or Schwab to clients for advisory transaction support services. Notwithstanding our existing service agreements, we reserve the right to engage other or additional firms for custodial services. 1. Soft Dollar Benefits As of the date of this Brochure, we have not entered into any agreement with any account custodian, broker- dealer, or any other third party to receive soft dollar credits. Soft dollar credits are earned from clients’ securities transactions as a result of an increase in transaction costs or commissions and are subsequently used to pay for the research or other products or services provided by an account custodian. Therefore, although we receive ancillary soft dollar benefits, our firm does not earn soft dollar credits. More importantly, our receipt of ancillary soft dollar platform benefits does not relieve us of our duty to act in the best interests of clients, which includes, among other things, seeking best execution of trades for client accounts. 2. Brokerage for Client Referrals We do not receive client referrals from broker-dealers or other third parties in exchange for using any particular broker-dealer. 3. Directed Brokerage (a) As previously stated, we recommend account custodians based on their ability to maximize trading efficiencies and provide cost-effectiveness for our clients. We seek to achieve the most favorable results for trading costs, allocating funds, and rebalancing clients’ investments. (b) We do not permit clients to direct brokerage. Order Aggregation We may (but are not obligated to) block or aggregate orders for all advisory accounts, including personal accounts, to execute transactions more timely, equitably, cost-effectively, and efficiently. When we block or aggregate trades, buy and sell orders are averaged as to price and allocated proportionally among accounts. This practice is reasonably likely to result in an administrative convenience for our firm and an overall economic benefit to clients. Clients benefit relatively from averaged buy or sell execution prices, lower transaction expenses, beneficial timing of transactions, or a combination of these and other factors. If we decide that order aggregation is in the best interest of clients, before aggregating trades, we will prepare a written allocation statement specifying each advisory account that will participate in the aggregated order and the anticipated allocation among the accounts if the order is filled in its entirety. If the order is partially filled, allocations will be made according to our judgment of each client’s best interest, and such allocation decisions will be documented. For example, if an order is filled partially, client orders will be allocated before any personal CEG BROCHURE 16  Capital Endurance Group, Inc. account allocations. Each account participating in a block trade will pay or receive the average price for all shares included in the transactions for such securities on that day, including applicable transaction costs. Any change to an allocation must treat each client fairly and equitably and must be explained in writing and approved by our chief compliance officer promptly (generally no later than one hour) after the opening of the markets on the trading day following the day the order was executed. Our firm does not receive any additional compensation or remuneration as a result of order aggregation. Our firm’s chief compliance officer will review transactions to detect and prevent inefficiencies that result from noncompliance with our order aggregation policies and procedures. REVIEW OF ACCOUNTS (Item 13) Periodic Reviews Our criteria for reviewing client accounts are as follows: 1. Comprehensive Wealth Management Services We review client account portfolios no less than annually and more frequently at any client’s request. Each investment advisor representative reviews the client accounts under his purview. Our review methodology involves ongoing monitoring and analysis to ensure that clients’ portfolios and strategies remain aligned with the stated investment goals and objectives. If reallocation is necessary, we will buy or sell investments that align with a client’s strategies, goals, and objectives. 2. Stand-Alone Limited Engagement Financial Plans Clients who engage us for stand-alone limited engagement financial planning services will receive financial plans or planning updates during meetings (e.g., in-person, telephone, or electronic/virtual communications) throughout the engagement. During review meetings, we request that clients provide updates on previously provided financial information or data. After engagement termination, supplemental services are available for an additional fee. Clients who wish to engage us for comprehensive wealth management services must do so within twelve (12) months of the stand-alone engagement for limited financial planning services. Note About Cash Sweeps. Certain account custodians may require that cash proceeds from client account transactions or new deposits be transferred to and/or initially held in a designated sweep account. The interest rates on the sweep account are usually lower than those offered by other money market accounts. In cases of yield dispersion, our firm will generally, within thirty (30) days, purchase a higher-yielding money market fund or other security available on the account custodian’s platform, unless we intend to use the cash proceeds to acquire additional investments for the client’s account. Exceptions and adjustments to our cash balances policy may be made for various reasons. It is important to note that the cash sweep policy does not apply to the cash portion of our firm’s investment strategies, which typically remains in the designated cash sweep account at the account custodian. It also does not apply to cash set aside for client needs or balances maintained for advisory fee billings. Furthermore, clients are responsible for yield dispersion, cash balance decisions, and related cash transactions for cash accounts held by the account custodian but not managed by our firm. Intermittent Review Factors Substantial market fluctuation, economic, business, or political events, or changes in a client’s financial status (such as retirement, termination of employment, relocation, or inheritance) will prompt us to conduct ad hoc reviews of holdings and accounts. Clients are encouraged to notify us promptly if any material changes affect the financial information on which we rely to provide advice and recommendations. Client Reports We issue separate written reports to clients regarding account performance at least quarterly. In addition to performance data, the reports may include statements of gains and losses and a financial markets summary. Due to differences in accounting procedures, reporting dates, or valuation and pricing methodologies for certain securities, the asset values on the firm's performance statements will differ from those on the account custodian’s statements. Please review our performance statements carefully, comparing the asset values in our reports to those in the account custodian’s statements. In addition to our performance reports, clients receive transaction confirmations from the account custodian shortly after trading activity (buys or sells). The account custodian also sends monthly statements for each CEG BROCHURE 17  Capital Endurance Group, Inc. month that trading activity occurs. If there is no trading activity during any month, clients will receive quarterly account statements detailing account activity. CLIENT REFERRALS AND OTHER COMPENSATION (Item 14) Economic Benefits for Advisory Services Except for the disclosures outlined in the Brokerage Practices section above, we do not have any arrangements to receive economic benefits from a third party for providing advisory services to our clients. Compensation for Client Referrals Through our client referral program, we have entered into referral arrangements with some current clients of the firm who are compensated for referring prospective clients to us. Clients referred by other clients should be aware that some clients may be incentivized to make referrals because they receive compensation in the form of advisory fee discounts. We require that our client referral program and similar referral arrangements comply with applicable regulatory requirements of Georgia Rule 590-4-4-.19 and SEC Rule 206(4)-1, including, but not limited to, disclosures made by current clients to prospective clients at the time of the referral. Such disclosures provide details regarding referral arrangements, conflicts of interest, and the compensation we pay (and the current client receives) in connection with such referrals. In accordance with Georgia Rule 590-4-4-.19 and SEC Rule 206(4)- 1, we have procedures in place to confirm that current clients deliver disclosures to prospective clients. CUSTODY (Item 15) Custodian of Assets Our firm does not hold physical custody of client funds or securities. We require that qualified account custodians hold client assets. For more information about the account custodians (broker-dealers) that provide clearing, custody, and safekeeping for our client accounts, please review the Brokerage Practices section. Our firm has indirect custody of client funds and securities because of our authorization to deduct advisory fees directly from clients’ accounts. Nonetheless, we have implemented safeguard requirements to ensure the safekeeping of clients’ funds and securities by a qualified account custodian. We also have indirect custody of client funds and securities through the use of asset movement authorizations to process account disbursements at a client’s request. To ensure the safekeeping of assets subject to movement authorizations, we have implemented the requisite account custodian internal control procedures for safeguarding client assets. We also manage clients’ 401(k) plan assets held at the plan. Although we use a third-party platform to access 401(k) plan assets, our trading authority creates custody circumstances for our firm. As a safeguard, we have employed an independent accountant to conduct annual surprise audits of these client assets and file the requisite reports detailing the results of such audits. Account Statements Client account statements are mailed or sent electronically by the account custodian. Clients are advised to carefully review account statements, comparing asset values, holdings, allocations, performance, and advisory fees on current statements to the information in previously received trade confirmations and account statements. INVESTMENT DISCRETION (Item 16) Discretionary Authority It is customary for our firm to exercise discretionary trading authority to manage and direct clients’ investment assets (i.e., accounts, funds, and securities). This authority is granted upon a client’s execution of our investment management agreement. Discretionary authority is to make and implement investment decisions regarding a client’s investment assets (i.e., accounts, funds, or securities) without prior consultation with a client. Such investment decisions include determining the types and dollar amounts or percentages of securities to buy or sell and reinvesting investment assets. All investment decisions implemented under discretionary trading authority are made in accordance with a client’s stated investment objectives. At any time during our advisory engagement, clients may advise us of any limitations on our discretionary authority in writing. CEG BROCHURE 18  Capital Endurance Group, Inc. While we allow clients to advise us of the desire to impose restrictions on investing in securities in specific industries or countries, or on dollar amounts, or percentages of investments in the foregoing, such restrictions will generally not apply to the management of the underlying securities in mutual funds and exchange-traded funds, if applicable. Therefore, clients may be limited in imposing limitations, as some restrictions may affect the outcome of our investment management strategy. We will address each request on a case-by-case basis. VOTING CLIENT SECURITIES (Item 17) Our firm does not cast proxy votes on behalf of clients. We may provide information to clarify the issues in proxy solicitation materials; however, our clients are responsible for casting proxy votes. Clients are also responsible for directing shareholder action items related to mergers, acquisitions, tender offers, bankruptcy proceedings, and other events involving the securities held in accounts managed by us. Clients receive proxy solicitation and information regarding shareholder action items by mail or electronically from the account custodian or issuer’s transfer agent. Clients must follow the instructions for voting or directing the shareholder action outlined in the mailing or electronic delivery. FINANCIAL INFORMATION (Item 18) Balance Sheet Requirement Our firm does not require or solicit prepayment of more than $500 in advisory fees per client, six (6) months or more in advance. Discretionary Authority, Custody of Client Funds or Securities, and Financial Condition We use discretionary trading authority to supervise, direct, and manage clients’ investments. Additionally, we have indirect custody of client funds and securities through our authorization to deduct advisory fees directly from clients’ accounts. We also have indirect custody when we process clients’ requests to disburse assets from their portfolios. We are deemed to have custody of the client's 401(k) plan assets held at the plan due to our trading authority, which provides access to client funds and securities. Moreover, we do not have any financial condition that would impair our ability to meet contractual commitments to clients. Bankruptcy Petition Filings Our firm has not been the subject of a bankruptcy petition. REQUIREMENTS FOR STATE REGISTERED ADVISERS (Item 19) Firm Management Our firm is a corporation with one principal owner, Mr. Patrick M. Dailey. Specific information regarding Mr. Dailey’s educational and business background is outlined in his attached Brochure Supplement. Other Business Activities Neither our firm nor management personnel conducts any other business activities not already disclosed herein. Performance-Based Fees We do not assess performance-based fees. Disciplinary Disclosure Reporting 1. Arbitration Claims. NONE 2. Civil Litigation, Self-Regulatory Organization Proceedings, or Administrative Actions. NONE Relationships or Arrangements with Securities Issuers Neither our firm nor our management personnel have any additional relationships or arrangements with issuers of securities. CEG BROCHURE 19  Capital Endurance Group, Inc. ADDITIONAL DISCLOSURES Important Information regarding Retirement Accounts ERISA Fiduciary Advisor As a result of providing fiduciary investment advice to plan sponsors, plan participants, and IRA owners, we are a Fiduciary Advisor under Title I of the Employee Retirement Income Security Act of 1974, as amended (ERISA), and as applicable, the Internal Revenue Code of 1986, as amended (the Code). Please review the Types of Advisory Services section above for details regarding our advisory services. We will provide additional disclosures at the time we provide advice or make recommendations regarding any retirement savings account. Retirement Account Rollover Options Clients have options regarding retirement account rollovers. New or existing clients leaving an employer typically have four (4) options regarding assets in an existing retirement plan. They may: 1. roll over the assets to the new employer’s plan, if available, and if rollovers are permitted; 2. leave the assets in the former employer’s plan, if permitted; 3. roll over the assets to an individual retirement account (“IRA”) or 4. cash out the account value (tax consequences generally apply). If our firm recommends that a client roll over retirement assets into an account that we will manage, such a recommendation creates a conflict of interest because we will earn fees as a result of the rollover. As a Fiduciary Advisor, our firm mitigates this conflict by disclosing it and ensuring that any recommendation to roll over retirement savings is in the client’s best interest. No client is under any obligation to roll over retirement savings to an account managed by us. Clients with questions regarding the conflicts of interest listed above are urged to request additional details from their investment advisor representative or contact us. Our primary contact number is listed on the cover page of this Brochure. CFP Board Disclosures Our firm employs CERTIFIED FINANCIAL PLANNERTM professionals, Patrick M. Dailey, CFP®, and Paul M. Delaney, CFA®, CFP®. The Brochure supplements for Messrs. Dailey and Delaney outline specific details regarding the conferment of the CFP® professional designation. Accordingly, we also adhere to the CFP Board’s Standards of Professional Conduct. We encourage clients to review the information outlined in this Brochure, our disclosure document. We welcome any questions clients may have regarding our advisory services (see Item 4, Advisory Services), compensation (see Item 5, Fees and Compensation Section), and affiliations (see Item 10, Other Financial Industry Activities and Affiliations Section). Should any material changes occur to the information outlined in this Brochure, updates will be provided to clients within a reasonable timeframe, generally within thirty (30) days, as required by advisory regulations. We acknowledge our responsibility to adhere to the standards established by the CFP Board’s Standards of Professional Conduct, including the duty of care of a fiduciary, as defined by the CFP Board. CEG BROCHURE 20  Capital Endurance Group, Inc. This brochure supplement provides information about Investment Advisor Representative, Patrick M. Dailey, CRD No. 4298837 that supplements the firm brochure of Capital Endurance Group, Inc., CRD No. 284793. You should have received a copy of that brochure. Please contact Patrick M. Dailey (see contact information below), if you did not receive the Capital Endurance Group, Inc. Brochure or if you have any questions about the contents of this supplement. Additional information about Investment Advisor Representative, Patrick M. Dailey, CRD No. 4298837 can be found on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov. This website can be searched by using the investment advisor representative’s CRD number (shown above). BROCHURE SUPPLEMENT (Form ADV Part 2B) for Patrick M. Dailey, CFP® Capital Endurance Group, Inc. 5755 North Point Parkway, Suite 20 Alpharetta, Georgia 30022 Phone: (470) 375-6663 Website: www.cegwm.com Email: patrick@cegwm.com April 17, 2026  Capital Endurance Group, Inc. BROCHURE SUPPLEMENT for Patrick M. Dailey CRD No. 4298837 EDUCATIONAL BACKGROUND & BUSINESS EXPERIENCE (Item 2) Capital Endurance Group Requirements for Representative Employment We require that employees who provide advice on behalf of the firm have at least a 4-year college degree and two (2) years of relevant work experience in the securities industry. Prospective employees must also have passed the appropriate state advisory exam(s). Investment Advisor Representative’s Information Patrick M. Dailey, CFP® Year of Birth: 1972 Educational Background Bachelor of Science in Finance, Georgia State University, Atlanta, Georgia, 1997 Master’s degree in Personal Financial Planning, Georgia State University, Atlanta, Georgia, 2002 Professional Designations Certified Financial Planner or CFP®, 2005 Certified Financial Planner, CFP®, and federally registered CFP (with flame design) marks (collectively, the “CFP® marks”) are professional certification marks granted in the United States by the Certified Financial Planner Board of Standards, Inc. (“CFP Board”). The CFP® certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold the CFP® certification. It is recognized in the United States and a number of other countries for its (1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical requirements that govern professional engagements with clients. Currently, more than 62,000 individuals have obtained CFP® certification in the United States. To attain the right to use the CFP® marks, an individual must satisfactorily fulfill the following requirements: Education – Complete an advanced college-level course of study addressing the financial planning subject areas that the CFP Board’s studies have determined as necessary for the competent and professional delivery of financial planning services, and attain a Bachelor’s Degree from a regionally accredited United States college or university (or its equivalent from a foreign university). CFP Board’s financial planning subject areas include insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning; Examination – Pass the comprehensive CFP® Certification Examination. The examination, administered in 10 hours over a two-day period, includes case studies and client scenarios designed to test one’s ability to correctly diagnose financial planning issues and apply one’s knowledge of financial planning to real-world circumstances; Experience – Complete at least three years of full-time financial planning-related experience (or the equivalent, measured as 2,000 hours per year); and Ethics – Agree to be bound by the CFP Board’s Standards of Professional Conduct, a set of documents outlining the ethical and practice standards for CFP® professionals. Individuals who become certified must complete ongoing education and ethics requirements in order to maintain the right to continue to use the CFP® marks. 2011 to Present Business Experience Founder, Chief Compliance Officer, & Investment Advisor Representative Capital Endurance Group, Inc. Alpharetta, Georgia 2011 to 2024 Managing Director Capital Endurance Partners, LLC Alpharetta, Georgia 2014 to 2016 Investment Advisor Representative Tailored Wealth Management, LLC Atlanta, Georgia 2011 to 2014 Investment Advisor Representative Redwood Wealth Management, LLC Atlanta, Georgia CEG - PATRICK M. DAILEY, CFP® - BROCHURE SUPPLEMENT 2  Capital Endurance Group, Inc. 2004 to 2011 Investment Advisor Representative Windham Brannon Financial Group, LLC Atlanta, Georgia DISCIPLINARY INFORMATION (Item 3) Patrick M. Dailey has not been involved in any industry-related legal or disciplinary event. OTHER BUSINESS ACTIVITIES (Item 4) Investment Related Mr. Dailey is not involved in any investment related activity that has not already been disclosed. Noninvestment Related Patrick M. Dailey is a real estate agent with an active license with the Georgia Real Estate Commission. He devotes up to ten percent (10%) of his workweek to real estate related matters. ADDITIONAL COMPENSATION (Item 5) Mr. Dailey does not receive economic benefits from any third party not already disclosed herein. SUPERVISION (Item 6) Patrick M. Dailey is our firm's chief compliance officer. He provides advice as an investment advisor representative and supervises the activities of other investment advisor representatives. He also supervises other advisory personnel, administers firm operations, and ensures the application of our written supervisory policies and procedures. For information regarding our supervisory practices, please contact Patrick M. Dailey by phone at (470) 375- 6663 or by e-mail at patrick@cegwm.com REQUIREMENTS FOR STATE REGISTERED ADVISERS (Item 7) Additional IAR Disciplinary Events 1. Awards granted or findings of liability in consequential Arbitration Claims None. 2. Awards granted or findings of liability in consequential Civil, SRO, or Administrative Proceedings. None. IAR Bankruptcy Petition Filings Mr. Dailey has not been the subject of a bankruptcy petition. 3 CEG - PATRICK M. DAILEY, CFP® - BROCHURE SUPPLEMENT  Capital Endurance Group, Inc. This brochure supplement provides information about Investment Advisor Representative, Paul M. Delaney, CRD No. 4554283 that supplements the firm brochure of Capital Endurance Group, Inc., CRD No. 284793. You should have received a copy of that brochure. Please contact Patrick M. Dailey (see contact information below), if you did not receive the Capital Endurance Group, Inc. Brochure or if you have any questions about the contents of this supplement. Additional information about Investment Advisor Representative, Paul M. Delaney, CRD No. 4554283 can be found on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov. This website can be searched by using the investment advisor representative’s CRD number (shown above). BROCHURE SUPPLEMENT (Form ADV Part 2B) for Paul M. Delaney, CFA®, CFP® Capital Endurance Group, Inc. ~North Carolina Branch~ 5000 Centre Green Way, Fifth Floor Cary, North Carolina 27513 Phone: (919) 228-6316 Website: www.cegwm.com Email: paul@cegwm.com Supervisory Contact Patrick M. Dailey, CFP® Chief Compliance Officer Phone: (470) 375-6663 Email: patrick@cegwm.com April 17, 2026  Capital Endurance Group, Inc. BROCHURE SUPPLEMENT for Paul M. Delaney CRD No. 4554283 EDUCATIONAL BACKGROUND & BUSINESS EXPERIENCE (Item 2) Capital Endurance Group Requirements for Representative Employment We require that employees who provide advice on behalf of the firm have at least a 4-year college degree and two (2) years of relevant work experience in the securities industry. Prospective employees must also have passed the appropriate state advisory exam(s). Investment Advisor Representative’s Information Paul M. Delaney, CFA®, CFP® Year of Birth: 1970 Educational Background Master of Business Administration (Finance), Columbia Business School, New York, New York, 2002 Postgraduate Diploma in Commerce (Finance), University of Auckland, New Zealand Bachelor of Commerce (Economics), University of Auckland, New Zealand, 1993 Bachelor of Arts (History), University of Auckland, New Zealand Professional Designation CFA Institute, Chartered Financial Analyst Designation (CFA®), 2005 The Chartered Financial Analyst (“CFA”) is a professional designation conferred by the CFA Institute. The Chartered Financial Analyst (CFA) charter is a globally respected, graduate-level investment credential established in 1962 and awarded by the CFA Institute, the largest global association of investment professionals. Education - The CFA Program is a graduate-level self-study program that combines a broad-based curriculum of investment principles with professional conduct requirements. Candidates are required to pass three levels of examinations covering a wide range of fundamental and advanced investment topics, including ethical and professional standards, fixed-income and equity analysis, alternative and derivative investments, economics, financial reporting standards, portfolio management, and wealth planning. The CFA Program curriculum provides a comprehensive framework of knowledge for investment decision- making and is firmly grounded in the knowledge and skills used every day in the investment profession. Examination - To earn the CFA charter, candidates must: 1) pass three sequential, six-hour examinations; 2) have at least four years of qualified professional investment experience; 3) join CFA Institute as members; and 4) commit to abide by, and annually reaffirm, their adherence to the CFA Institute Code of Ethics and Standards of Professional Conduct. Experience - Before a candidate is eligible to become a CFA charter holder, he or she must meet minimum experience and practice requirements in the areas of finance or investments. To enroll in the program, a candidate must have earned a bachelor’s degree. Ethics - The CFA Institute Code of Ethics and Standards of Professional Conduct, enforced through an active professional conduct program, requires CFA charter holders to: Place their clients’ interests ahead of their own Act with integrity Disclose conflicts of interest and legal matters • • Maintain independence and objectivity • • Maintain and improve their professional competence • The CFA Program curriculum is updated every year by experts from around the world to ensure that candidates learn the most relevant and practical new tools, ideas, and investment and wealth management skills to reflect the dynamic and complex nature of the profession. To learn more about the CFA charter, visit www.cfainstitute.org. Certified Financial Planner or CFP®, 2020 Certified Financial Planner, CFP®, and federally registered CFP (with flame design) marks (collectively, the “CFP® marks”) are professional certification marks granted in the United States by the Certified Financial Planner Board of Standards, Inc. (“CFP Board”). The CFP® certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold the CFP® certification. It is recognized in the United States and a number of other countries for its (1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical requirements that govern professional engagements with clients. Currently, more than 62,000 individuals have obtained CFP® certification in the United States. CEG – PAUL M. DELANEY, CFA®, CFP® - BROCHURE SUPPLEMENT 1  Capital Endurance Group, Inc. To attain the right to use the CFP® marks, an individual must satisfactorily fulfill the following requirements: Education – Complete an advanced college-level course of study addressing the financial planning subject areas that the CFP Board’s studies have determined as necessary for the competent and professional delivery of financial planning services, and attain a Bachelor’s Degree from a regionally accredited United States college or university (or its equivalent from a foreign university). CFP Board’s financial planning subject areas include insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning; Examination – Pass the comprehensive CFP® Certification Examination. The examination, administered in 10 hours over a two-day period, includes case studies and client scenarios designed to test one’s ability to correctly diagnose financial planning issues and apply one’s knowledge of financial planning to real-world circumstances; Experience – Complete at least three years of full-time financial planning-related experience (or the equivalent, measured as 2,000 hours per year); and Ethics – Agree to be bound by the CFP Board’s Standards of Professional Conduct, a set of documents outlining the ethical and practice standards for CFP® professionals. Individuals who become certified must complete ongoing education and ethics requirements in order to maintain the right to continue to use the CFP® marks. 2017 to Present Business Experience Investment Advisor Representative Capital Endurance Group, Inc. North Carolina Branch Cary, North Carolina 2009 to 2016 Senior Vice President, Senior Analyst Piedmont Investment Advisors Durham, North Carolina 2005 to 2007 Research Analyst Morgan Stanley & Co New York, New York DISCIPLINARY INFORMATION (Item 3) Paul M. Delaney has not been involved in any industry-related legal or disciplinary event. OTHER BUSINESS ACTIVITIES (Item 4) Mr. Delaney is not involved in any investment related (or noninvestment related) activity not disclosed herein. ADDITIONAL COMPENSATION (Item 5) Mr. Delaney does not receive economic benefits from any third party. SUPERVISION (Item 6) Paul M. Delaney is supervised by Patrick M. Dailey, Chief Compliance Officer. We administer supervision in accordance with our written supervisory policies and procedures. For additional information regarding our supervisory policies and procedures, please contact Patrick M. Dailey by phone at (470) 375-6663 or by e-mail at patrick@cegwm.com. REQUIREMENTS FOR STATE REGISTERED ADVISERS (Item 7) Additional IAR Disciplinary Events 1. Awards granted or findings of liability in consequential Arbitration Claims None. 2. Awards granted or findings of liability in consequential Civil, SRO, or Administrative Proceedings. None. IAR Bankruptcy Petition Filings Mr. Delaney has not been the subject of a bankruptcy petition. CEG – PAUL M. DELANEY, CFA®, CFP® - BROCHURE SUPPLEMENT 2