Dsg Capital Advisors, LLC

DSG Capital Advisors, LLC Form ADV Part 2A – Disclosure Brochure Effective: July 31, 2026 This Form ADV Part 2A (“Disclosure Brochure”) provides information about the qualifications and business practices of DSG Capital Advisors, LLC (“DSG” or the “Advisor”). If you have any questions about the content of this Disclosure Brochure, please contact the Advisor at (612) 515-9900. DSG is a registered investment advisor with the U.S. Securities and Exchange Commission (“SEC”). The information in this Disclosure Brochure has not been approved or verified by the SEC or by any state securities authority. Registration of an investment advisor does not imply any specific level of skill or training. This Disclosure Brochure provides information about DSG to assist you in determining whether to retain the Advisor. Additional information about DSG and its Advisory Persons is available on the SEC’s website at www.adviserinfo.sec.gov by searching with the Advisor’s firm name or CRD# 332056. DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website:// https://dsgcapitaladvisors.com  Item 2 – Material Changes Form ADV 2 is divided into two parts: Part 2A (the "Disclosure Brochure") and Part 2B (the "Brochure Supplement"). The Disclosure Brochure provides information about a variety of topics relating to an Advisor’s business practices and conflicts of interest. The Brochure Supplement provides information about the Advisory Persons of DSG. For convenience, the Advisor has combined these documents into a single disclosure document. DSG believes that communication and transparency are the foundation of its relationship with clients and will continually strive to provide you with complete and accurate information at all times. DSG encourages all current and prospective clients to read this Disclosure Brochure and discuss any questions you may have with the Advisor. Material Changes The following material changes have been made to this Disclosure Brochure since the annual amendment filing on March 25th, 2026: • The Advisor prorates fees for additions and withdrawals in the household. Please see Item 5 for additional details. Future Changes From time to time, the Advisor may amend this Disclosure Brochure to reflect changes in business practices, changes in regulations or routine annual updates as required by the securities regulators. This complete Disclosure Brochure or a Summary of Material Changes shall be provided to you annually and if a material change occurs. At any time, you may view the current Disclosure Brochure on-line at the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with the Advisor’s firm name or CRD# 332056. You may also request a copy of this Disclosure Brochure at any time by contacting the Advisor at (612) 515-9900. DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 2  Item 3 – Table of Contents Item 1 – Cover Page ............................................................................................................................................... 1 Item 2 – Material Changes ..................................................................................................................................... 2 Item 3 – Table of Contents ..................................................................................................................................... 3 Item 4 – Advisory Services .................................................................................................................................... 4 A. Firm Information .............................................................................................................................................................. 4 B. Advisory Services Offered ............................................................................................................................................... 4 C. Client Account Management ........................................................................................................................................... 6 D. Wrap Fee Programs ........................................................................................................................................................ 6 E. Assets Under Management ............................................................................................................................................. 6 Item 5 – Fees and Compensation ......................................................................................................................... 6 A. Fees for Advisory Services.............................................................................................................................................. 7 B. Fee Billing........................................................................................................................................................................ 7 C. Other Fees and Expenses .............................................................................................................................................. 9 D. Advance Payment of Fees and Termination ................................................................................................................... 9 E. Compensation for Sales of Securities ........................................................................................................................... 10 Item 6 – Performance-Based Fees and Side-By-Side Management ................................................................ 10 Item 7 – Types of Clients ..................................................................................................................................... 10 Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss ......................................................... 10 A. Methods of Analysis ...................................................................................................................................................... 10 B. Risk of Loss ................................................................................................................................................................... 11 Item 9 – Disciplinary Information ........................................................................................................................ 14 Item 10 – Other Financial Industry Activities and Affiliations .......................................................................... 14 Item 11 – Code of Ethics, Participation or Interest in Client Transactions and Personal Trading ............... 14 A. Code of Ethics ............................................................................................................................................................... 14 B. Personal Trading with Material Interest ......................................................................................................................... 14 C. Personal Trading in Same Securities as Clients ........................................................................................................... 14 D. Personal Trading at Same Time as Client .................................................................................................................... 15 Item 12 – Brokerage Practices ............................................................................................................................ 15 A. Recommendation of Custodian[s] ................................................................................................................................. 15 B. Aggregating and Allocating Trades ............................................................................................................................... 16 Item 13 – Review of Accounts ............................................................................................................................. 16 A. Frequency of Reviews ................................................................................................................................................... 16 B. Causes for Reviews ...................................................................................................................................................... 16 C. Review Reports ............................................................................................................................................................. 16 Item 14 – Client Referrals and Other Compensation ........................................................................................ 16 A. Compensation Received by DSG ................................................................................................................................. 17 B. Compensation for Client Referrals ................................................................................................................................ 17 Item 15 – Custody ................................................................................................................................................. 17 Item 16 – Investment Discretion ......................................................................................................................... 17 Item 17 – Voting Client Securities ....................................................................................................................... 18 Item 18 – Financial Information ........................................................................................................................... 18 Appendix 1 – Wrap Fee Program Brochure ....................................................................................................... 18 Privacy Policy ....................................................................................................................................................... 27 DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 3  Item 4 – Advisory Services A. Firm Information DSG Capital Advisors, LLC (“DSG” or the “Advisor”) is a registered investment advisor with the U.S. Securities and Exchange Commission (“SEC”). The Advisor was organized as a Limited Liability Company (“LLC”) under the laws of the State of South Dakota in June 2024. DSG is a wholly-owned subsidiary of DSG Holdings, LLC. The Principal Officer of DSG is Denver S. Gilliand, CIMA® (CEO, President, and Chief Compliance Officer). This Disclosure Brochure provides information regarding the qualifications, business practices, and the advisory services provided by DSG. B. Advisory Services Offered DSG offers investment advisory services to high-net-worth individuals, families, trusts, estates, and businesses (each referred to as a “Client”). DSG provides a range of family office services to our client families. We can provide your family with, advice, recommendations, and/or management in the following areas: financial planning; investment management (asset allocation, portfolio construction, investment vehicle selection, portfolio monitoring and discretionary management); family governance, succession planning; service provider selection; and consolidated reporting. We work closely with you to identify your investment goals and objectives, as well as risk tolerance and financial situation in order to develop an investment approach. DSG serves as a fiduciary to Clients, as defined under the applicable laws and regulations. As a fiduciary, the Advisor upholds a duty of loyalty, fairness and good faith towards each Client and seeks to mitigate potential conflicts of interest. DSG’s fiduciary commitment is further described in the Advisor’s Code of Ethics. For more information regarding the Code of Ethics, please see Item 11 – Code of Ethics, Participation or Interest in Client Transactions and Personal Trading. Family Office Services DSG provides certain clients with family office services. These services are inclusive of the Advisor’s investment management and financial planning services disclosed below. The services may include advice and assistance related to philanthropy, tax planning coordination, trust and estate planning coordination, and consolidated performance reporting across multiple accounts or entities. DSG may also assist clients with family governance initiatives, including educational sessions for family members. Please see Item 5 for details on how the Advisor bills for these services. Investment Management Services DSG provides customized investment management services for its Clients. This is achieved through continuous personal Client contact and interaction while providing primarily discretionary investment management and related advisory services. DSG works closely with each Client to identify their investment goals and objectives as well as risk tolerance and financial situation in order to create a portfolio strategy. DSG will then construct an investment portfolio, consisting primarily of individual stocks, individual bonds, and exchange-traded funds (“ETFs”) to achieve the Client’s investment goals. The Advisor may also utilize mutual funds, third party money managers (herein “Independent Managers”), options, alternative investments, structured notes, and/or other investment approaches to meet the needs of the Client. The Advisor may retain other types of investments from the Client’s legacy portfolio due to fit with the overall portfolio strategy, tax-related reasons, or other reasons as identified between the Advisor and the Client. DSG’s investment strategies are primarily long-term focused, but the Advisor may buy, sell or re-allocate positions that have been held for less than one year to meet the objectives of the Client or due to market conditions. DSG will construct, implement and monitor the portfolio to ensure it meets the goals, objectives, circumstances, and risk tolerance agreed to by the Client. Each Client will have the opportunity to place reasonable restrictions on the types of investments to be held in their respective portfolio, subject to acceptance by the Advisor. DSG evaluates and selects investments for inclusion in Client portfolios only after applying its internal due diligence process. DSG may recommend, on occasion, redistributing investment allocations to diversify the portfolio. DSG DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 4  may recommend specific positions to increase sector or asset class weightings. The Advisor may recommend employing cash positions as a possible hedge against market movement. DSG may recommend selling positions for reasons that include, but are not limited to, harvesting capital gains or losses, business or sector risk exposure to a specific security or class of securities, overvaluation or overweighting of the position[s] in the portfolio, change in risk tolerance of the Client, generating cash to meet Client needs, or any risk deemed unacceptable for the Client’s risk tolerance. Retirement Accounts – When the Advisor provides investment advice to Clients regarding ERISA retirement accounts or individual retirement accounts (“IRAs”), the Advisor is a fiduciary within the meaning of Title I of the Employee Retirement Income Security Act (“ERISA”) and/or the Internal Revenue Code (“IRC”), as applicable, which are laws governing retirement accounts. When deemed to be in the Client’s best interest, the Advisor will provide investment advice to a Client regarding a distribution from an ERISA retirement account or to roll over the assets to an IRA, or recommend a similar transaction including rollovers from one ERISA sponsored Plan to another, one IRA to another IRA, or from one type of account to another account (e.g. commission-based account to fee-based account). Such a recommendation creates a conflict of interest if the Advisor will earn a new (or increase its current) investment management fee as a result of the transaction. No client is under any obligation to roll over a retirement account to an account managed by the Advisor. Use of Independent Managers – DSG may recommend that Clients utilize one or more unaffiliated investment managers or investment platforms (collectively “Independent Managers”) for a portion of a Client’s investment portfolio, based on the Client’s needs and objectives. In such instances, the Client will be required to authorize and enter into an investment management agreement with an Independent Manager that defines the terms in which the Independent Manager will provide its services. The Advisor will perform initial and ongoing oversight and due diligence over each Independent Manager to ensure the strategy remains aligned with Clients’ investment objectives and overall best interests. The Advisor will also assist the Client in the development of the initial policy recommendations and managing the ongoing Client relationship. The Client, prior to entering into an agreement with an Independent Manager, will be provided with the Independent Manager's Form ADV Part 2A - Disclosure Brochure (or a brochure that makes the appropriate disclosures). Financial Planning Services DSG will typically provide a variety of financial planning and consulting services to Clients as part of its investment management services, or pursuant to a separate written financial planning agreement. Services are offered in several areas of a Client’s financial situation, depending on their goals and objectives. Generally, such financial planning services involve preparing a formal financial plan or rendering a specific financial consultation based on the Client’s financial goals and objectives. This planning or consulting may encompass one or more areas of need, including but not limited to, investment planning, retirement planning, personal savings, education savings, insurance needs, and/or other areas of a Client’s financial situation. A financial plan developed for, or financial consultation rendered to the Client will usually include general recommendations for a course of activity or specific actions to be taken by the Client. For example, recommendations may be made that the Client start or revise their investment programs, commence or alter retirement savings, establish education savings and/or charitable giving programs. DSG may also refer Clients to an accountant, attorney or other specialists, as appropriate for their unique situation. For certain financial planning engagements, the Advisor will provide a written summary of the Client’s financial situation, observations, and recommendations. For consulting or ad-hoc engagements, the Advisor may not provide a written summary. Plans or consultations are typically completed within six (6) quarters of contract date, assuming all information and documents requested are provided promptly. Financial planning and consulting recommendations pose a conflict between the interests of the Advisor and the interests of the Client. For example, the Advisor has an incentive to recommend that Clients engage the Advisor for investment management services or to increase the level of investment assets with the Advisor, as it would increase the amount of investment management fees paid to the Advisor. Clients are not obligated to implement any recommendations made by the Advisor or maintain an ongoing relationship with the Advisor. If the Client elects DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 5  to act on any of the recommendations made by the Advisor, the Client is under no obligation to implement the transaction through the Advisor. Retirement Plan Advisory Services DSG provides retirement plan advisory services on behalf of the retirement plans (each a “Plan”) and the company (the “Plan Sponsor”). The Advisor’s retirement plan advisory services are designed to assist the Plan Sponsor in meeting its fiduciary obligations to the Plan and its Plan Participants. Each engagement is customized to the needs of the Plan and Plan Sponsor. Services generally include: Investment Policy Statement (“IPS”) Design and Monitoring Investment Due Diligence Investment Oversight Services (ERISA 3(21)) Investment Management Services (ERISA 3(38)) • Vendor Analysis • Plan Participant Enrollment and Education Tracking • • • • • Performance Reporting • Ongoing Investment Recommendation Assistance These services are provided by DSG serving in the capacity as a fiduciary under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). In accordance with ERISA Section 408(b)(2), the Plan Sponsor is provided with a written description of DSG’s fiduciary status, the specific services to be rendered and all direct and indirect compensation the Advisor reasonably expects under the engagement. C. Client Account Management Prior to engaging DSG to provide investment advisory services, each Client is required to enter into one or more written agreements with the Advisor that define the terms, conditions, authority and responsibilities of the Advisor and the Client. These services may include: • Establishing an Investment Strategy – DSG, in connection with the Client, will develop a strategy that seeks to achieve the Client’s goals and objectives. • Asset Allocation – DSG will develop a strategic asset allocation that is targeted to meet the investment objectives, time horizon, financial situation and tolerance for risk for each Client. • Portfolio Construction – DSG will develop a portfolio for the Client that is intended to meet the stated goals and objectives of the Client. • Investment Management and Supervision – DSG will provide investment management and ongoing oversight of the Client’s investment portfolio. D. Wrap Fee Programs DSG may include securities transaction fees together with its investment management fees for certain Clients. Including these fees into a single asset-based fee is considered a “Wrap Fee Program”. The Advisor customizes its investment management services for its Clients. The Advisor sponsors the DSG Wrap Fee Program solely as a supplemental disclosure when there is a combination of such fees. The DSG Wrap Fee Program will also depend on the Custodian selected by the Client (Please see item 12 below). Depending on the level of trading of certain securities required for the Client’s account[s] in a particular year, the Client may pay more or less in total fees than if the Client paid its own transaction fees. Please see Appendix 1 – Wrap Fee Program Brochure, which is included as a supplement to this Disclosure Brochure. E. Assets Under Management As of December 31, 2025, DSG manages $780,311,503 in Client assets, $763,224,213 managed on a discretionary basis, and $17,087,290 on a non-discretionary basis. Clients may request more current information at any time by contacting the Advisor. DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 6  Item 5 – Fees and Compensation The following paragraphs detail the fee structure and compensation methodology for services provided by the Advisor. Each Client engaging the Advisor for services described herein shall be required to enter into one or more written agreements with the Advisor. A. Fees for Advisory Services Family Office Services As mentioned in Item 4, the Advisor provides comprehensive planning and administrative coordination services for Clients as part of its family office services. These services are provided pursuant to the investment management fee schedule disclosed below. In certain instances, deliverables of this service may be provided pursuant to a separate or additional fee, which will be outlined in the Client’s executed agreement with the Advisor. Investment Management Services Investment management fees are paid quarterly, in advance of each calendar quarter, pursuant to the terms of the advisory agreement. Investment management fees are based on the market value of assets under management at the end of the prior quarter. Investment management fees are calculated based on the total assets under management for the Client’s household in accordance with the fee schedule below or as specifically noted in the Client’s executed agreement. Certain Clients may also be subject to a legacy fee schedule that differs from the schedule below, as outlined in their executed agreement. Additionally, certain account types will be assessed an annual flat fee rate that differs from the schedule below. The assets in the accounts that are assessed a flat fee rate will be excluded from the household assets under management calculation from the below schedule, which will be outlined in the Client’s executed agreement. Assets Under Management ($) Annual Rate (%) First $5,000,000 1.25% Next $5,000,000 1.15% Next $15,000,000 0.95% Next $25,000,000 0.80% Next $50,000,000 0.70% Over $100,000,000 0.60% The investment management fee in the first quarter of service is prorated from the inception date of the account[s] to the end of the first quarter. Fees may be negotiable at the sole discretion of the Advisor. The Client’s fees will take into consideration the aggregate assets under management with the Advisor. Investment management fees are prorated for household asset deposits and withdrawals that exceed $1,000,000 or more during the quarter in a single transaction. If this occurs, then subsequent deposits and withdrawals of $250,000 or more within the quarter will be netted with any resulting adjustment reflected in the following quarter’s advisory fee. Proration for household deposits and withdrawals are pursuant to a written agreement and client consent. Certain Legacy Clients may not be subject to fee pro-ration in accordance to their executed agreement. Securities held in accounts managed by DSG will typically be independently valued by the Custodian. The Advisor will conduct periodic reviews of the Custodian’s valuation to ensure accurate billing. The Advisor’s fee is exclusive of, and in addition to any applicable securities transaction and custody fees, and other related costs and expenses described in Item 5.C below, which may be incurred by the Client. However, the Advisor shall not receive any portion of these commissions, fees, and costs. The Advisor may also provide investment advisory services with respect to Private Funds, including but not limited to Private Funds offered through various third parties, which are not held at the primary custodian. In such instances, the Client shall be required to complete the applicable private placement and/or account opening DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 7  documents to establish these investments. The Advisor will debit its fee for providing investment advisory services with respect to these relationships directly from an account designated by the Client held at the primary Custodian. The Advisor will bill on the amount of invested capital into the fund. Adjustments are reflected in the fee calculations for the next quarterly period. Use of Independent Managers As noted in Item 4, the Advisor may implement a portion of a Client’s investment portfolio utilizing one or more Independent Managers. To eliminate any conflict of interest, the Advisor does not earn any compensation from an Independent Manager. The Advisor will only earn its investment management fee as described above. Independent Managers typically do not offer any fee discounts but may have a breakpoint schedule which will reduce the fee with an increased level of assets placed under management with an Independent Manager. The terms of such fee arrangements are included in the Independent Manager’s disclosure brochure and applicable contract[s] with the Independent Manager. The total blended fee, including the Advisor’s fee and the Independent Manager’s fee, will not exceed 2.50% annually. Financial Planning Services DSG offers financial planning services at an hourly rate ranging from $125 to $475 per hour or a fixed engagement fee based on the expected number of hours to complete the engagement. Fixed fees range up to $500,000 based on the scope, duration and complexity of the services to be provided. Fees may be negotiable based on the nature and complexity of the services to be provided and the overall relationship with the Advisor. An estimate for total hours and/or costs will be provided to the Client prior to engaging for these services. Retirement Plan Advisory Services Fees for retirement plan advisory services are charged an annual asset-based fee of up to 0.75% and are billed quarterly, pursuant to the terms of the retirement plan advisory agreement. Fees may be negotiable depending on the size and complexity of the Plan. Consulting Services The Advisor provides non-advisory consulting services for a negotiated fee, based on the nature of the consulting services to be provided. Services are provided at an hourly rate ranging from $125 to $475 per hour or a fixed engagement fee. An estimate for total costs will be provided to the Client prior to engaging for these services. B. Fee Billing Investment Management Services Investment management fees are calculated by the Advisor or its delegate and deducted from the Client’s account[s] at the Custodian. The Advisor shall send an invoice to the Custodian indicating the amount of the fees to be deducted from the Client’s account[s] at the respective quarter. The amount due is calculated by applying the quarterly rate (annual rate divided by the number of days in the year, multiplied by the number of days in the quarter) to the total assets under management with DSG at the end of the prior quarter. Clients will be provided with a statement, at least quarterly, from the Custodian reflecting deduction of the investment management fee. Clients are urged to also review the statement provided by the Custodian, as the Custodian does not perform a verification of the Advisor’s fees. Clients provide written authorization permitting investment management fees to be deducted by DSG to be paid directly from their account[s] held by the Custodian as part of the investment advisory agreement and separate account forms provided by the Custodian. Use of Independent Managers For Client accounts implemented through an Independent Manager, the Client’s overall fees may include DSG’s investment management fee (as noted above) plus investment management fees and/or platform fees charged by the Independent Manager[s], as applicable. In certain instances, the Independent Manager or the Advisor may assume responsibility for calculating the Client’s fees and deduct all fees from the Client’s account[s]. Financial Planning Services Financial planning fees may be invoiced up to fifty percent (50%) of the expected total fee upon execution of the financial planning agreement. The balance shall be invoiced upon completion of the agreed upon deliverable[s]. DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 8  Longer duration planning engagements (greater than six (6) months for completion) may be billed in arrears of each calendar quarter. Services will a duration of six months or more will be billed quarterly. Retirement Plan Advisory Services Retirement plan advisory fees may be directly invoiced to the Plan Sponsor or deducted from the assets of the Plan, depending on the terms of the retirement plan advisory agreement. Retirement plan fees are billed quarterly based on the market value of assets under management at the end of the prior calendar quarter. Consulting Services Consulting fees may be invoiced up to fifty percent (50%) of the expected total fee upon execution of the consulting services agreement. The balance shall be invoiced upon completion of the agreed upon deliverable[s]. Ongoing consulting services are billed quarterly in advance. C. Other Fees and Expenses Clients may incur certain fees or charges imposed by third parties, other than DSG, in connection with investments made on behalf of the Client’s account[s]. As disclosed in Item 4.D. above, under the DSG Wrap Fee Program, the Advisor may include securities transaction fees together with its investment management fee. The Advisor's recommended Custodians typically do not charge securities transaction fees for ETF and equity trades in a Client's account, provided that the account meets the terms and conditions of the Custodian's brokerage requirements. However, the Custodians often charge for mutual funds and other types of investments. Please also see Item 12 below. The Client shall be responsible for wire fees, administrative fees, trade-away fees, and/or other fees, which may be charged by the selected Custodian. These fees are separate from the fees charged by DSG. DSG does not receive any portion of these fees. In addition, all fees paid to DSG for advisory services are separate and distinct from the expenses charged by third- party private funds, mutual funds, and ETFs to their shareholders, if applicable. These fees and expenses are described in each fund’s prospectus. These fees and expenses will generally be used to pay management fees for the funds, other fund expenses, account administration (e.g., custody, brokerage and account reporting), and a possible distribution fee. A Client may be able to invest in these products directly, without the services of DSG, but would not receive the services provided by DSG which are designed, among other things, to assist the Client in determining which products or services are most appropriate for each Client’s financial situation and objectives. Accordingly, the Client should review both the fees charged by the fund[s] and the fees charged by DSG to fully understand the total fees to be paid. Please refer to Item 12 – Brokerage Practices for additional information. D. Advance Payment of Fees and Termination Investment Management Services DSG may be compensated for its investment management services in advance of the quarter in which services are rendered. Either party may terminate the investment advisory agreement, at any time, by providing advance written notice to the other party. The Client may also terminate the investment advisory agreement within five (5) business days of signing the Advisor’s agreement at no cost to the Client. After the five-day period, the Client will incur charges for bona fide advisory services rendered to the point of termination and such fees will be due and payable by the Client. Upon termination, the Advisor will refund any unearned, prepaid investment management fees from the effective date of termination to the end of the quarter. The Client’s investment advisory agreement with the Advisor is non-transferable without the Client’s prior consent. Use of Independent Managers In the event that a Client should wish to terminate their relationship with the Independent Manager, the terms for the termination will be set forth in the respective agreements between the Client and that Independent Manager. DSG will assist the Client with the termination and transition as appropriate. Financial Planning Services DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 9  DSG may be partially-compensated for its financial planning services upon the execution of the planning agreement. Either party may terminate the financial planning agreement, at any time, by providing advance written notice to the other party. The Client may also terminate the financial planning agreement within five (5) business days of signing the Advisor’s agreement at no cost to the Client. After the five-day period, the Client will incur charges for bona fide advisory services rendered to the point of termination and such fees will be due and payable by the Client. Upon termination, the Client shall be billed based on the percentage of the engagement scope completed by the Advisor. Upon termination, the Advisor will refund any unearned, prepaid planning fees. The Client’s financial planning agreement with the Advisor is non-transferable without the Client’s prior consent. Retirement Plan Advisory Services DSG is compensated for its retirement plan advisory services in advance of the quarter. Either party may request to terminate a retirement plan advisory agreement, at any time, by providing advance written notice to the other party. The Client may also terminate the retirement plan advisory agreement within five (5) business days of signing the Advisor’s agreement at no cost to the Client. After the five-day period, the Client will incur charges for bona fide advisory services rendered to the point of termination and such fees will be due and payable by the Client. Upon termination, the Client shall be responsible for advisory fees up to and including the effective date of termination. Upon termination, the Advisor will refund any unearned, prepaid advisory fees from the effective date of termination to the end of the quarter. The Client’s retirement plan advisory agreement with the Advisor is non-transferable without the Client’s prior consent. Consulting Services DSG may be partially-compensated for its consulting services upon the execution of the consulting services agreement. Either party may terminate the consulting services agreement, at any time, by providing advance written notice to the other party. The Client may also terminate the consulting services agreement within five (5) business days of signing the Advisor’s agreement at no cost to the Client. After the five-day period, the Client will incur charges for bona fide services rendered to the point of termination and such fees will be due and payable by the Client. Upon termination, the Client shall be billed based on the number of hours worked at the negotiated hourly rate or the percentage of the engagement scope completed by the Advisor. Upon termination, the Advisor will refund any unearned, prepaid consulting fees. The Client’s consulting services agreement with the Advisor is non-transferable without the Client’s prior consent. E. Compensation for Sales of Securities DSG does not buy or sell securities to earn commissions and does not receive any compensation for securities transactions in any Client account, other than the investment management fees noted above. Item 6 – Performance-Based Fees and Side-By-Side Management DSG does not charge performance-based fees for its investment management services. The fees charged by DSG are as described in Item 5 above and are not based upon the capital appreciation of the funds or securities held by any Client. DSG does not manage any proprietary investment funds or limited partnerships (for example, a mutual fund or a hedge fund) and has no financial incentive to recommend any particular investment options to its Clients. Item 7 – Types of Clients DSG offers investment management services to high-net-worth individuals, families, trusts, estates, and businesses. DSG generally requires a minimum relationship size of $5,000,000 for investment management services, which may be reduced at the sole discretion of the Advisor. Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss A. Methods of Analysis DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 10  DSG primarily employs quantitative and qualitative fundamental in addition to technical analysis methods as well as macroeconomic analysis/top-down analysis in developing investment strategies for its Clients. Research and analysis from DSG are derived from numerous sources, including Bloomberg data analytics, financial media companies, third-party research materials, internet sources, and review of company activities, including annual reports, prospectuses, press releases and research prepared by others. Fundamental analysis utilizes quantitative data analytics in addition to economic and business analytics as investment selection criteria. This criterion consists generally of factor analytics, ratios and trends that may indicate the overall strength and financial viability of the entity being analyzed. Assets are deemed suitable if they meet certain quantitative criteria to indicate that they are a strong investment with a value discounted by the market. While this type of analysis helps the Advisor in evaluating a potential investment, it does not guarantee that the investment will increase in value. Assets meeting the investment criteria utilized in the fundamental analysis may lose value and may have negative investment performance. The Advisor monitors these economic indicators to determine if adjustments to strategic allocations are appropriate. More details on the Advisor’s review process are included below in Item 13 – Review of Accounts. Technical analysis involves the analysis of past market data rather than specific company data in determining the recommendations made to clients. Technical analysis may involve the use of charts to identify market patterns and trends, which may be based on investor sentiment rather than the fundamentals of the company. The primary risk in using technical analysis is that spotting historical trends may not help to predict such trends in the future. Even if the trend will eventually reoccur, there is no guarantee that DSG will be able to accurately predict such a reoccurrence. As noted above, DSG generally employs a quantitative based long-term investment strategy for its Clients, as consistent with their financial goals. DSG will typically hold all or a portion of a security for more than a year, but may hold for shorter periods for the purpose of rebalancing a portfolio or meeting the cash needs of Clients. At times, DSG may also buy and sell positions that are more short-term in nature, depending on the goals of the Client and/or the fundamentals of the security, sector or asset class. Macroeconomic analysis involves assessing broad economic data series and statistics to determine the direction of the global economy and present state of the investment environment. Macroeconomic analysis includes interpreting the direction of interest rates, employment, wages, inflation, productivity tends, trade policy and structural factors that may affect investment opportunities. The regulatory and political environment is also considered to determine whether government intervention or policy actions may positively or adversely alter the direction of the economy. An analysis of the macroeconomic environment is employed to help identify attractive industries, secular trends, and/or thematic opportunities. B. Risk of Loss Investing in securities involves certain investment risks. Securities may fluctuate in value or lose value. Clients should be prepared to bear the potential risk of loss. DSG will assist Clients in determining an appropriate strategy based on their tolerance for risk and other factors noted above. However, there is no guarantee that a Client will meet their investment goals. While the methods of analysis help the Advisor in evaluating a potential investment, it does not guarantee that the investment will increase in value. Assets meeting the investment criteria utilized in these methods of analysis may lose value and may have negative investment performance. The Advisor monitors these economic indicators to determine if adjustments to strategic allocations are appropriate. More details on the Advisor’s review process are included below in Item 13 – Review of Accounts. Each Client engagement will entail a review of the Client's investment goals, financial situation, time horizon, tolerance for risk and other factors to develop an appropriate strategy for managing a Client's account. Client participation in this process, including full and accurate disclosure of requested information, is essential for the analysis of a Client's account[s]. The Advisor shall rely on the financial and other information provided by the Client or their designees without the duty or obligation to validate the accuracy and completeness of the provided DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 11  information. It is the responsibility of the Client to inform the Advisor of any changes in financial condition, goals or other factors that may affect this analysis. The risks associated with a particular strategy are provided to each Client in advance of investing Client accounts. The Advisor will work with each Client to determine their tolerance for risk as part of the portfolio construction process. Following are some of the risks associated with the Advisor’s investment strategies: Market Risks The value of a Client’s holdings may fluctuate in response to events specific to companies or markets, as well as economic, political, or social events in the U.S. and abroad. This risk is linked to the performance of the overall financial markets. The value of a Client’s holdings may decrease due to fraud, misconduct, or other unauthorized or malicious acts by managers or other service providers. ETF Risks The performance of ETFs is subject to market risk, including the possible loss of principal. The price of the ETFs will fluctuate with the price of the underlying securities that make up the funds. In addition, ETFs have a trading risk based on the loss of cost efficiency if the ETFs are traded actively and a liquidity risk if the ETFs have a large bid- ask spread and low trading volume. The price of an ETF fluctuates based upon the market movements and may dissociate from the index being tracked by the ETF or the price of the underlying investments. An ETF purchased or sold at one point in the day may have a different price than the same ETF purchased or sold a short time later. There is also a risk that Authorized Participants are unable to fulfill their responsibilities. Authorized Participants are one of the major parties involved with ETF creation/redemption mechanism in the markets. The Authorized Participants play a critical role in the liquidity of ETFs and essentially have the exclusive right to change the supply of ETF shares in the market. If the Authorized Participants does not fulfill this expected role, there could be an adverse impact on liquidity and the valuation of an ETF. Bond Risks Bonds are subject to specific risks, including the following: (1) interest rate risks, i.e. the risk that bond prices will fall if interest rates rise, and vice versa, the risk depends on two things, the bond's time to maturity, and the coupon rate of the bond. (2) reinvestment risk, i.e. the risk that any profit gained must be reinvested at a lower rate than was previously being earned, (3) inflation risk, i.e. the risk that the cost of living and inflation increase at a rate that exceeds the income investment thereby decreasing the investor’s rate of return, (4) credit default risk, i.e. the risk associated with purchasing a debt instrument which includes the possibility of the company defaulting on its repayment obligation, (5) rating downgrades, i.e. the risk associated with a rating agency’s downgrade of the company’s rating which impacts the investor’s confidence in the company’s ability to repay its debt and (6) Liquidity Risks, i.e. the risk that a bond may not be sold as quickly as there is no readily available market for the bond. Mutual Fund Risks The performance of mutual funds is subject to market risk, including the possible loss of principal. The price of the mutual funds will fluctuate with the value of the underlying securities that make up the funds. In addition, a mutual fund’s performance may be adversely affected by the investment decisions and overall management of the fund’s investment adviser. The price of a mutual fund is typically set daily therefore a mutual fund purchased at one point in the day will typically have the same price as a mutual fund purchased later that same day. Margin Borrowings The use of margin borrowings involves additional risks to a Client. By establishing a margin account, the Client permits the broker or custodian to lend or otherwise use the securities in the account, including using them as collateral. As a result, the Client’s securities may not be segregated and may be subject to the claims of the broker’s or custodian’s creditors, and in the event of insolvency, the Client could experience delays in recovering, or a loss of, some or all of the securities. In addition, if the value of securities pledged to secure a margin account declines, the Client may be subject to a margin call requiring the deposit of additional funds or securities. If the Client fails to meet such a margin call, the broker may liquidate some or all of the pledged securities without prior notice to satisfy the margin deficiency. Alternative Investments (Limited Partnerships) DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 12  The performance of alternative investments (limited partnerships) can be volatile and may have limited liquidity. An investor could lose access to their funds due to illiquidity or lose all or a portion of their investment’s value. Such investments often have concentrated positions and investments that may carry higher illiquidity and volatility risks. Client should only have a portion of their assets in these investments. Options Contracts Investments in options contracts have the risk of losing value in a relatively short period of time. Option contracts are leveraged instruments that allow the holder of a single contract to control many shares of an underlying stock. This leverage can compound gains or losses. Digital Assets Risks Digital assets are highly speculative and volatile investments that may become illiquid at any time. Digital assets are loosely regulated. Clients could lose the entire value of their investment in digital assets and is only suitable for Clients with a high risk tolerance. Structured Products Structured products are securities derived from another asset, such as a security or a basket of securities, an index, a commodity, a debt issuance, or a foreign currency. Structured products frequently limit the upside participation in the reference asset. Structured products are senior unsecured debt of the issuing bank and subject to the credit risk associated with that issuer. This credit risk exists whether or not the investment held in the account offers principal protection. The creditworthiness of the issuer does not affect or enhance the likely performance of the investment other than the ability of the issuer to meet its obligations. Any payments due at maturity are dependent on the issuer’s ability to pay. In addition, the trading price of the security in the secondary market, if there is one, may be adversely impacted if the issuer’s credit rating is downgraded. Some structured products offer full protection of the principal invested, others offer only partial or no protection. Investors may be sacrificing a higher yield to obtain the principal guarantee. In addition, the principal guarantee relates to nominal principal and does not offer inflation protection. An investor in a structured product never has a claim on the underlying investment, whether a security, zero coupon bond, or option. There may be little or no secondary market for the securities and information regarding independent market pricing for the securities may be limited. This is true even if the product has a ticker symbol or has been approved for listing on an exchange. Tax treatment of structured products may be different from other investments held in the account (e.g., income may be taxed as ordinary income even though payment is not received until maturity). Leveraged and Inverse ETFs Leveraged and Inverse ETFs are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk, consequences of seeking daily leveraged investment results and intend to actively monitor and manage their investments. Leveraged ETFs are not designed to track the underlying index over periods longer than one trading day. The use of leverage increases the level of investment risk. Leverage will magnify gains or losses on those investments. Inverse ETFs lose value when the underlying investments rise in value. The investments have the risk of not meeting their stated daily investment objectives over a long-term period. Cybersecurity Risks As the use of technology has grown, there are ongoing cybersecurity risks that registered investment advisors and their clients must face. To the extent that DSG is subject to a cyberattack or other unauthorized access is gained to its systems, DSG and its Clients may be subject to substantial losses in the form of theft, loss, misuse, improper release or unauthorized access to confidential or restricted data related to DSG or its Clients. Cyberattacks affecting DSG’s service providers holding its financial or client data may also result in financial losses to Clients, despite efforts to prevent and mitigate such risks under DSG policies. While measures have been developed which are designed to reduce the risks associated with cybersecurity, there are inherent limitations in such measures and there is no guarantee those measures will be effective, particularly since DSG does not directly control the cybersecurity measures of its service providers and financial intermediaries with which it does business. DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 13  Past performance is not a guarantee of future returns. Investing in securities and other investments involve a risk of loss that each Client should understand and be willing to bear. Clients are reminded to discuss these risks with the Advisor. Item 9 – Disciplinary Information Securities laws require an advisor to disclose any instances where the Advisor or its Advisory Persons have been found liable in a legal, regulatory, civil or arbitration matter that alleges violation of securities and other statutes; fraud; false statements or omissions; theft, embezzlement or wrongful taking of property; bribery, forgery, counterfeiting, or extortion; and/or dishonest, unfair or unethical practices. DSG does not have any matters which require disclosure. DSG values the trust Clients place in the Advisor. The Advisor encourages Clients to perform the requisite due diligence on any advisor or service provider that the Client engages. The backgrounds of the Advisor or Advisory Persons are available on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with the Advisor’s firm name or CRD# 332056. Item 10 – Other Financial Industry Activities and Affiliations Insurance Agency Affiliations Certain Advisory Persons are licensed insurance professionals. Implementations of insurance recommendations are separate and apart from one’s role with the Advisor. As an insurance professional, the Advisory Person will receive customary commissions and other related revenues from the various insurance companies whose products are sold. Advisory Persons are not required to offer the products of any particular insurance company. Commissions generated by insurance sales do not offset advisory fees. This presents a conflict of interest in recommending certain products of the insurance companies. Clients are under no obligation to implement any recommendations made by the Advisor or Advisory Persons. Use of Independent Managers As noted in Item 4, the Advisor may implement a portion of a Client’s investment portfolio with one or more Independent Managers. The Advisor does not receive any compensation nor does this present a material conflict of interest. The Advisor will only earn its investment management fees as described in Item 5.A. Item 11 – Code of Ethics, Participation or Interest in Client Transactions and Personal Trading A. Code of Ethics DSG has implemented a Code of Ethics (the “Code”) that defines the Advisor’s fiduciary commitment to each Client. This Code applies to all persons associated with DSG (“Supervised Persons”). The Code was developed to provide general ethical guidelines and specific instructions regarding the Advisor’s duties to each Client. DSG and its Supervised Persons owe a duty of loyalty, fairness and good faith towards each Client. It is the obligation of DSG’s Supervised Persons to adhere not only to the specific provisions of the Code, but also to the general principles that guide the Code. The Code covers a range of topics that address employee ethics and conflicts of interest. To request a copy of the Code, please contact the Advisor at (612) 515-9900. B. Personal Trading with Material Interest DSG allows Supervised Persons to purchase or sell the same securities that may be recommended to and purchased on behalf of Clients. DSG does not act as principal in any transactions. In addition, the Advisor does not act as the general partner of a fund, or advise an investment company. DSG does not have a material interest in any securities traded in Client accounts. C. Personal Trading in Same Securities as Clients DSG allows Supervised Persons to purchase or sell the same securities that may be recommended to and purchased on behalf of Clients. Owning the same securities that are recommended (purchase or sell) to Clients presents a conflict of interest that, as fiduciaries, must be disclosed to Clients and mitigated through policies and procedures. As noted above, the Advisor has adopted the Code to address insider trading (material non-public information controls); gifts and entertainment; outside business activities and personal securities reporting. When DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 14  trading for personal accounts, Supervised Persons have a conflict of interest if trading in the same securities. The fiduciary duty to act in the best interest of its Clients can be violated if personal trades are made with more advantageous terms than Client trades, or by trading based on material non-public information. This risk is mitigated by DSG requiring reporting of personal securities trades by its Supervised Persons for review by the Chief Compliance Officer (“CCO”) or delegate. The Advisor has also adopted written policies and procedures to detect the misuse of material, non-public information. D. Personal Trading at Same Time as Client While DSG allows Supervised Persons to purchase or sell the same securities that may be recommended to and purchased on behalf of Clients, such trades are typically aggregated with Client orders or traded afterwards. At no time will DSG, or any Supervised Person of DSG, transact in any security to the detriment of any Client. Item 12 – Brokerage Practices A. Recommendation of Custodian[s] DSG typically does not have discretionary authority to select the broker-dealer/custodian for custody and execution services. The Client will engage the broker-dealer/custodian (herein the "Custodian") to safeguard Client assets and authorize DSG to direct trades to the selected Custodian as directed by the Client in the investment advisory agreement. Further, DSG does not have the discretionary authority to negotiate commissions on behalf of Clients on a trade-by-trade basis. While DSG does not exercise discretion over the selection of the Custodian, it does recommend the Custodian to Clients for custody and execution services. Clients are not obligated to use the recommended Custodian and will not incur any extra fee or cost from the Advisor associated with using a custodian not recommended by DSG. However, the Advisor may be limited in the services it can provide if the recommended Custodian is not engaged. DSG may recommend the Custodian based on criteria such as, but not limited to, reasonableness of commissions charged to the Client, services made available to the Client, and its reputation and/or the location of the Custodian’s offices. DSG will generally recommend that Clients establish their account[s] at LPL Financial LLC, Charles Schwab & Co., Inc., or National Financial Services LLC (each a “Custodian” and collectively the “Custodians”). The Client will engage one or more of the Custodians, each a FINRA-registered broker-dealer and member SIPC, as the Client’s “qualified custodian” to safeguard Client assets and facilitate trading in the account[s]. The Client shall authorize the Advisor to have investment discretion at the respective Custodian[s]. Clients that select LPL Financial will be offered the DSG Wrap Fee Program, where the Advisor pays securities transaction fees, if applicable. Clients that select Charles Schwab & Co., Inc., or National Financial Services LLC will not be offered the DSG Wrap Fee Program and the Client will pay securities transaction fees, if applicable. Please see Items 4.D, 5.C. and Appendix 1 – Wrap Fee Program Brochure. DSG maintains institutional relationships with the Custodians, whereby the Advisor receives certain benefits. While DSG receives these benefits from the Custodians, the Advisor believes they provide quality execution and related services for our Clients at competitive prices. Price is not the sole factor DSG considers in evaluating best execution and the recommendation of a Custodian. DSG also considers the quality of the custody and brokerage services provided by the Custodians, including the firm's reputation, execution capabilities, commission rates, and responsiveness to our Clients and our firm. These services are intended to serve the best interests of the Advisor’s Clients. Please see Item 14. The Custodians may charge brokerage commissions (securities transaction fees) for effecting certain securities transactions. The Custodians enable the Advisor to obtain certain no-load mutual funds without securities transaction fees and other no-load funds at nominal transaction charges. Commission rates are generally considered discounted from customary retail commission rates. However, the commissions and transaction fees charged by the Custodians may be higher or lower than those charged by other custodians and broker-dealers. Please see Item 14 below for additional information. DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 15  Following are additional details regarding the brokerage practices of the Advisor: 1. Soft Dollars - Soft dollars are revenue programs offered by broker-dealers/custodians whereby an advisor enters into an agreement to place security trades with a broker-dealer/custodian in exchange for research and other services. DSG does not participate in soft dollar programs sponsored or offered by any broker- dealer/custodian. However, the Advisor receives certain economic benefits from the Custodians. Please see Item 14 below. 2. Brokerage Referrals - DSG does not receive any compensation from any third party in connection with the recommendation for establishing an account. 3. Directed Brokerage - All Clients are serviced on a “directed brokerage basis”, where DSG will place trades within the established account[s] at the Custodian designated by the Client. Further, all Client accounts are traded within their respective account[s]. The Advisor will not engage in any principal transactions (i.e., trade of any security from or to the Advisor’s own account) or cross transactions with other Client accounts (i.e., purchase of a security into one Client account from another Client’s account[s]). DSG will not be obligated to select competitive bids on securities transactions and does not have an obligation to seek the lowest available transaction costs. These costs are determined by the Custodian. B. Aggregating and Allocating Trades The primary objective in placing orders for the purchase and sale of securities for Client accounts is to obtain the most favorable net results taking into account such factors as 1) price, 2) size of the order, 3) difficulty of execution, 4) confidentiality and 5) skill required of the Custodian. DSG will execute its transactions through the Custodian as authorized by the Client. DSG may aggregate orders in a block trade or trades when securities are purchased or sold through the Custodian for multiple (discretionary) accounts in the same trading day. If a block trade cannot be executed in full at the same price or time, the securities actually purchased or sold by the close of each business day must be allocated in a manner that is consistent with the initial pre-allocation or other written statement. This must be done in a way that does not consistently advantage or disadvantage any particular Clients’ accounts. Item 13 – Review of Accounts A. Frequency of Reviews Securities in Client accounts are monitored on a regular and continuous basis by Advisor Persons of the Advisor and periodically by the CCO. Formal reviews are generally conducted at least annually or more frequently depending on the needs of the Client. B. Causes for Reviews In addition to the investment monitoring noted in Item 13.A., each Client account shall be reviewed at least annually. Reviews may be conducted more frequently at the Client’s request. Accounts may be reviewed as a result of major changes in economic conditions, known changes in the Client’s financial situation, and/or large deposits or withdrawals in the Client’s account[s]. The Client is encouraged to notify DSG if changes occur in the Client’s personal financial situation that might adversely affect the Client’s investment plan. Additional reviews may be triggered by material market, economic or political events. C. Review Reports The Client will receive custody and brokerage statements no less than quarterly from the Custodian. These statements are sent directly from the Custodian to the Client, typically electronically. The Client may also establish electronic access to the Custodian’s website so that the Client may view these reports and their account activity. Client brokerage statements will include all positions, transactions and fees relating to the Client’s account[s]. The Advisor may also provide Clients with periodic reports regarding their holdings, allocations, and performance. Item 14 – Client Referrals and Other Compensation DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 16  A. Compensation Received by DSG DSG may refer Clients to various unaffiliated, non-advisory professionals (e.g. attorneys, accountants, estate planners) to provide certain financial services necessary to meet the goals of its Clients. Likewise, DSG may receive non-compensated referrals of new Clients from various third-parties. Participation in Institutional Advisor Platform DSG has established institutional relationships with the Custodians, as detailed in Item 12 above. As a registered investment advisor participating these Custodian platforms, DSG receives access to software and related support without cost because the Advisor renders investment management services to Clients that maintain assets at the Custodian[s]. Services provided by the Custodians benefit the Advisor and many, but not all services provided by the Custodians will benefit each Client. In fulfilling its duties to its Clients, the Advisor endeavors at all times to put the interests of its Clients first. Clients should be aware, however, that the receipt of economic benefits from a Custodian creates a potential conflict of interest since these benefits may influence the Advisor's recommendation of a Custodian over one that does not furnish similar software, systems support, or services. Services that Benefit the Client – Brokerage services include access to a broad range of investment products, execution of securities transactions, and custody of Client’s funds and securities. Through the Custodians, the Advisor may be able to access certain investments and asset classes that the Client would not be able to obtain directly or through other sources. Further, the Advisor may be able to invest in certain mutual funds and other investments without having to adhere to investment minimums that might be required if the Client were to directly access the investments. Services that May Indirectly Benefit the Client – The Custodians provide the Advisor with access to technology, research, discounts and other services. In addition, the Advisor has access to duplicate statements for Client accounts, the ability to deduct advisory fees, trading tools, and back-office support services as part of its relationship. These services are intended to assist the Advisor in effectively managing accounts for its Clients, but may not directly benefit all Clients. Services that May Only Benefit the Advisor – The Custodians also offer other services and financial support to DSG that may not benefit the Client, including: educational conferences and events, financial start-up support, consulting services and discounts for various service providers. Access to these services creates a financial incentive for the Advisor to recommend one or more of the Custodians, which results in a potential conflict of interest. DSG believes, however, that the selection of one of the recommended Custodians is in the best interests of its Clients. B. Compensation for Client Referrals The Advisor does not compensate, either directly or indirectly, any persons who are not Supervised Persons, for Client referrals. Item 15 – Custody The Advisor is authorized to deduct its fees from the Client’s account[s] at the Custodian. The Client must place all assets with a “qualified custodian”. The Client is required to engage the Custodian to retain all funds and securities and direct the Advisor to utilize that Custodian for security transactions in the account[s]. The Client should review statements provided by the Custodian, as the Custodian does not perform this review. For more information about custodians and brokerage practices, see Item 12 – Brokerage Practices. If the Client gives the Advisor authority to move money from one account to another account, the Advisor may have custody of those assets. In order to avoid additional regulatory requirements, the Custodian and the Advisor have adopted safeguards to ensure that the money movements are completed in accordance with the Client’s instructions. Item 16 – Investment Discretion DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 17  DSG generally has discretion over the selection and amount of securities to be bought or sold in Client accounts without obtaining prior consent or approval from the Client. However, these purchases or sales may be subject to specified investment objectives, guidelines, or limitations previously set forth by the Client and agreed to by DSG. Discretionary authority will only be authorized upon full disclosure to the Client. The granting of such authority will be evidenced by the Client's execution of an investment advisory agreement containing all applicable limitations to such authority. All discretionary trades made by DSG will be in accordance with each Client's investment objectives and goals. For certain accounts, DSG does not have discretion over the selection and amount of securities to be bought or sold in Client accounts without obtaining prior approval from the Client. The Advisor will contact the Client and obtain approval prior to executing trades or allocating investment assets. Item 17 – Voting Client Securities DSG does not accept proxy-voting responsibility for any Client. Clients will receive proxy statements directly from the Custodian. The Advisor will assist in answering questions relating to proxies, however, the Client retains the sole responsibility for proxy decisions and voting. Item 18 – Financial Information Neither DSG, nor its management, have any adverse financial situations that would reasonably impair the ability of DSG to meet all obligations to its Clients. Neither DSG, nor any of its Advisory Persons, have been subject to a bankruptcy or financial compromise. DSG is not required to deliver a balance sheet along with this Disclosure Brochure as the Advisor does not collect advance fees of $1,200 or more for services to be performed six quarters or more in the future. DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 18  DSG Capital Advisors, LLC Form ADV Part 2A – Appendix 1 (“Wrap Fee Program Brochure”) Effective: July 31, 2026 This Form ADV2A - Appendix 1 (“Wrap Fee Program Brochure”) provides information about the qualifications and business practices for DSG Capital Advisors, LLC (“DSG” or the “Advisor”) services when offering services pursuant to a wrap program. This Wrap Fee Program Brochure shall always be accompanied by the DSG Disclosure Brochure, which provides complete details on the business practices of the Advisor. If you did not receive the complete DSG Disclosure Brochure or you have any questions about the contents of this Wrap Fee Program Brochure or the DSG Disclosure Brochure, please contact the Advisor at (612) 515-9900. DSG is a registered investment advisor with the U.S. Securities and Exchange Commission (“SEC”). The information in this Wrap Fee Program Brochure has not been approved or verified by the SEC or by any state securities authority. Registration of an investment advisor does not imply any specific level of skill or training. This Wrap Fee Program Brochure provides information about DSG to assist you in determining whether to retain the Advisor. Additional information about DSG and its advisory persons are available on the SEC’s website at www.adviserinfo.sec.gov by searching the Advisor’s firm name or CRD# 332056. DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 19  Item 2 – Material Changes Form ADV 2A - Appendix 1 provides information about a variety of topics relating to an Advisor’s business practices and conflicts of interest. In particular, this Wrap Fee Program Brochure discusses the Wrap Fee Program offered by the Advisor. Material Changes No material changes have been made to this Wrap Fee Program Brochure since the last annual amendment filing on March 25th, 2026. Future Changes From time to time, the Advisor may amend this Wrap Fee Program Brochure to reflect changes in business practices, changes in regulations or routine annual updates as required by the securities regulators. This complete Wrap Fee Program Brochure (along with the complete DSG Disclosure Brochure) or a Summary of Material Changes shall be provided to you annually and if a material change occurs in the business practices of DSG. At any time, you may view this Wrap Fee Program Brochure and the current Disclosure Brochure on-line at the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching for the Advisor’s firm name or CRD# 332056. You may also request a copy of this Disclosure Brochure at any time, by contacting the Advisor at (612) 515-9900. Item 3 – Table of Contents Item 2 – Material Changes ................................................................................................................................... 18 Item 3 – Table of Contents ................................................................................................................................... 18 Item 4 – Services Fees and Compensation ........................................................................................................ 19 Item 5 – Account Requirements and Types of Clients ..................................................................................... 20 Item 6 – Portfolio Manager Selection and Evaluation ....................................................................................... 20 Item 7 – Client Information Provided to Portfolio Managers ............................................................................ 21 Item 8 – Client Contact with Portfolio Managers ............................................................................................... 21 Item 9 – Additional Information ........................................................................................................................... 21 DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 20  Item 4 – Services Fees and Compensation A. Services DSG Capital Advisors, LLC (“DSG or the “Advisor”) provides customized investment advisory services for its Clients. This Wrap Fee Program Brochure is provided as a supplement to the DSG Disclosure Brochure (Form ADV 2A). This Wrap Fee Program Brochure is provided along with the complete Disclosure Brochure to provide full details of the business practices and fees when selecting DSG as your investment advisor. As part of the investment management fees noted in Item 5 of the Disclosure Brochure, DSG includes securities transaction fees (herein “Covered Costs”) as part of the overall investment management fee when the Client selects LPL Financial LLC (“LPL Financial”) as its Custodian. Securities regulations often refer to this combined fee structure as a “Wrap Fee Program”. The Advisor’s recommended Custodians do not typically charge securities transaction fees for exchange-traded fund (“ETF”) and equity trades in Client accounts, but often charge for mutual funds and other types of investments. DSG sponsors the DSG Wrap Fee Program to include securities transaction costs into a single fee, when the Client selects LPL Financial as the Custodian. Please see Item 12 of the Disclosure Brochure. The sole purpose of this Wrap Fee Program Brochure is to provide additional disclosure relating the combination of Covered Costs into a single “bundled” investment management fee. This Wrap Fee Program Brochure references back to the DSG Disclosure Brochure in which this Wrap Fee Program Brochure serves as an Appendix. Please see Item 4 – Advisory Services of the Disclosure Brochure for details on DSG’s investment philosophy and related services. B. Program Costs For Clients that select LPL Financial as the Custodian, Advisory services provided by DSG are offered in a wrap fee structure whereby Covered Costs are included in the overall investment management fee paid to DSG. As the level of activity in a Client’s account[s] may vary from year to year, the annual cost to the Client may be more or less than engaging for advisory services where the Covered Costs are borne separately by the Client. The cost of the Wrap Fee Program varies depending on services to be provided to each Client, however, the Client is not charged more if there is higher trading activity or other Covered Costs. A Wrap Fee structure presents a conflict of interest as the Advisor is incentivized to limit the number of trades placed in Client’s account[s] in certain securities that may have transaction fees. Prior to executing any transaction in securities that has a transaction fee, DSG will perform a review to confirm the trade is in the Clients best interest. The Advisor will only place Client assets into a Wrap Fee Program when it is believed to be in the Client’s best interest. Please see Item 5 – Fees and Compensation of the Disclosure Brochure for complete details on fees. C. Fees Investment management fees are paid quarterly, in advance of each calendar quarter, pursuant to the terms of the advisory agreement. Investment management are based on the market value of assets under management at the end of the prior quarter. Investment management fees are calculated based on the total assets under management for the Client’s household in accordance with the fee schedule below or as specifically noted in the Client’s executed agreement. Certain Clients may also be subject to a legacy fee schedule that differs from the schedule below, as outlined in their executed agreement. Additionally, certain account types will be assessed an annual flat fee rate that differs from the schedule below. The assets in the accounts that are assessed a flat fee rate will be excluded from the household assets under management calculation from the below schedule, which will be outlined in the Client’s executed agreement. Assets Under Management ($) Annual Rate (%) First $5,000,000 1.25% Next $5,000,000 1.15% Next $15,000,000 0.95% DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 21  Next $25,000,000 0.80% Next $50,000,000 0.70% Over $100,000,000 0.60% The investment management fee in the first quarter of service is prorated from the inception date of the account[s] to the end of the first quarter. Fees may be negotiable at the sole discretion of the Advisor. The Client’s fees will take into consideration the aggregate assets under management with the Advisor. The Advisor will conduct periodic reviews of the Custodian’s valuation to ensure accurate billing. The Advisor may also provide investment advisory services with respect to Private Funds, including but not limited to Private Funds offered through various third parties, which are not held at the primary custodian. In such instances, the Client shall be required to complete the applicable private placement and/or account opening documents to establish these investments. The Advisor will debit its fee for providing investment advisory services with respect to these relationships directly from an account designated by the Client held at the primary Custodian. The Advisor will bill on the amount of invested capital into the fund. Adjustments are reflected in the fee calculations for the next quarterly period. Use of Independent Managers – The Advisor may implement a portion of a Client’s investment portfolio utilizing one or more Independent Managers. To eliminate any conflict of interest, the Advisor does not earn any compensation from an Independent Manager. The Advisor will only earn its investment management fee as described above. Independent Managers typically do not offer any fee discounts but may have a breakpoint schedule which will reduce the fee with an increased level of assets placed under management with an Independent Manager. The terms of such fee arrangements are included in the Independent Manager’s disclosure brochure and applicable contract[s] with the Independent Manager. The total blended fee, including the Advisor’s fee and the Independent Manager’s fee, will not exceed 2.50% annually. As noted above, the Wrap Fee Program includes Covered Costs incurred in connection with the discretionary investment management services provided by DSG, as part of its overall investment management fee. In addition, all fees paid to DSG for investment advisory services or part of the Wrap Fee Program are separate and distinct from the expenses charged by mutual funds and exchange-traded funds (“ETFs”) to their shareholders, if applicable. These fees and expenses are described in each fund’s prospectus. These fees and expenses will generally be used to pay management fees for the funds, other fund expenses, account administration (e.g., custody, brokerage and account reporting), and a possible distribution fee. Securities transaction fees for Client- directed trades are charged back to the Client. In connection with the discretionary investment management services provided by DSG, the Client will incur other costs assessed by the Custodian or other third parties, other than the Covered Costs noted above, such as wire transfer fees, fees for trades executed away from the Custodian and other fees]. The Advisor does not control nor share in these fees. The Client should review both the fees charged by the fund[s] and the fees charged by DSG to fully understand the total fees to be paid. Please see Item 5.C. – Other Fees and Expenses in the Disclosure Brochure (included with this Wrap Fee Program Brochure). D. Compensation DSG is the sponsor and portfolio manager of this Wrap Fee Program. DSG receives investment management fees paid by Clients for participating in the Wrap Fee Program and pays the Covered Costs associated with the management of the Client’s account[s]. Item 5 – Account Requirements and Types of Clients DSG offers advisory services to high-net-worth individuals, families, trusts, estates, and businesses (each referred to as a “Client”). DSG generally requires a minimum relationship size of $5,000,000, which may be reduced at the sole discretion of the Advisor. Please see Item 7 – Types of Clients in the Disclosure Brochure for additional information. DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 22  Item 6 – Portfolio Manager Selection and Evaluation Portfolio Manager Selection DSG serves as sponsor and as portfolio manager for the services under this Wrap Fee Program. Related Persons DSG personnel serve as portfolio managers for this Wrap Fee Program. DSG does not serve as a portfolio manager for any third-party Wrap Fee Programs. Performance-Based Fees DSG does not charge performance-based fees for its investment advisory services. The fees charged by DSG are as described in Item 5 above and are not based upon the capital appreciation of the funds or securities held by any Client. DSG does not manage any proprietary investment funds or limited partnerships (for example, a mutual fund or a hedge fund) and has no financial incentive to recommend any particular investment options to its Clients. Supervised Persons DSG Advisory Persons serve as portfolio managers for all accounts, including the services described in this Wrap Fee Program Brochure. Details of the advisory services provided are included in Item 4.A. of the Disclosure Brochure. Methods of Analysis Please see Item 8 of the Disclosure Brochure (included with this Wrap Fee Program Brochure) for details on the research and analysis methods employed by the Advisor. Risk of Loss Following are some of the risks associated with the Advisor’s investment strategies: Market Risks – The value of a Client’s holdings may fluctuate in response to events specific to companies or markets, as well as economic, political, or social events in the U.S. and abroad. This risk is linked to the performance of the overall financial markets. The value of a Client’s holdings may decrease due to fraud, misconduct, or other unauthorized or malicious acts by managers or other service providers. ETF Risks – The performance of ETFs is subject to market risk, including the possible loss of principal. The price of the ETFs will fluctuate with the price of the underlying securities that make up the funds. In addition, ETFs have a trading risk based on the loss of cost efficiency if the ETFs are traded actively and a liquidity risk if the ETFs have a large bid-ask spread and low trading volume. The price of an ETF fluctuates based upon the market movements and may dissociate from the index being tracked by the ETF or the price of the underlying investments. An ETF purchased or sold at one point in the day may have a different price than the same ETF purchased or sold a short time later. There is also a risk that Authorized Participants are unable to fulfill their responsibilities. Authorized Participants are one of the major parties involved with ETF creation/redemption mechanism in the markets. The Authorized Participants play a critical role in the liquidity of ETFs and essentially have the exclusive right to change the supply of ETF shares in the market. If the Authorized Participants does not fulfill this expected role, there could be an adverse impact on liquidity and the valuation of an ETF. Bond Risks – Bonds are subject to specific risks, including the following: (1) interest rate risks, i.e. the risk that bond prices will fall if interest rates rise, and vice versa, the risk depends on two things, the bond's time to maturity, and the coupon rate of the bond. (2) reinvestment risk, i.e. the risk that any profit gained must be reinvested at a lower rate than was previously being earned, (3) inflation risk, i.e. the risk that the cost of living and inflation increase at a rate that exceeds the income investment thereby decreasing the investor’s rate of return, (4) credit default risk, i.e. the risk associated with purchasing a debt instrument which includes the possibility of the company defaulting on its repayment obligation, (5) rating downgrades, i.e. the risk associated with a rating agency’s downgrade of the company’s rating which impacts the investor’s confidence in the company’s ability to repay its debt and (6) Liquidity Risks, i.e. the risk that a bond may not be sold as quickly as there is no readily available market for the bond. DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 23  Mutual Fund Risks – The performance of mutual funds is subject to market risk, including the possible loss of principal. The price of the mutual funds will fluctuate with the value of the underlying securities that make up the funds. In addition, a mutual fund’s performance may be adversely affected by the investment decisions and overall management of the fund’s investment adviser. The price of a mutual fund is typically set daily therefore a mutual fund purchased at one point in the day will typically have the same price as a mutual fund purchased later that same day. Margin Borrowings – The use of margin borrowings involves additional risks to a Client. By establishing a margin account, the Client permits the broker or custodian to lend, rehypothecate, or otherwise use the securities in the account, including using them as collateral. As a result, the Client’s securities may not be segregated and may be subject to the claims of the broker’s or custodian’s creditors, and in the event of insolvency, the Client could experience delays in recovering, or a loss of, some or all of the securities. In addition, if the value of securities pledged to secure a margin account declines, the Client may be subject to a margin call requiring the deposit of additional funds or securities. If the Client fails to meet such a margin call, the broker may liquidate some or all of the pledged securities without prior notice to satisfy the margin deficiency. Alternative Investments (Limited Partnerships) – The performance of alternative investments (limited partnerships) can be volatile and may have limited liquidity. An investor could lose access to their funds due to illiquidity or lose all or a portion of their investment. Such investments often have concentrated positions and investments that may carry higher illiquidity and volatility risks. Client should only have a portion of their assets in these investments. Options Contracts- Investments in options contracts have the risk of losing value in a relatively short period of time. Option contracts are leveraged instruments that allow the holder of a single contract to control many shares of an underlying stock. This leverage can compound gains or losses. Digital Assets Risks- Digital assets are highly speculative and volatile investments that may become illiquid at any time. Digital assets are loosely regulated. Clients could lose the entire value of their investment in digital assets and is only suitable for Clients with a high risk tolerance. Structured Products- Structured products are securities derived from another asset, such as a security or a basket of securities, an index, a commodity, a debt issuance, or a foreign currency. Structured products frequently limit the upside participation in the reference asset. Structured products are senior unsecured debt of the issuing bank and subject to the credit risk associated with that issuer. This credit risk exists whether or not the investment held in the account offers principal protection. The creditworthiness of the issuer does not affect or enhance the likely performance of the investment other than the ability of the issuer to meet its obligations. Any payments due at maturity are dependent on the issuer’s ability to pay. In addition, the trading price of the security in the secondary market, if there is one, may be adversely impacted if the issuer’s credit rating is downgraded. Some structured products offer full protection of the principal invested, others offer only partial or no protection. Investors may be sacrificing a higher yield to obtain the principal guarantee. In addition, the principal guarantee relates to nominal principal and does not offer inflation protection. An investor in a structured product never has a claim on the underlying investment, whether a security, zero coupon bond, or option. There may be little or no secondary market for the securities and information regarding independent market pricing for the securities may be limited. This is true even if the product has a ticker symbol or has been approved for listing on an exchange. Tax treatment of structured products may be different from other investments held in the account (e.g., income may be taxed as ordinary income even though payment is not received until maturity). Leveraged and Inverse ETFs- Leveraged and Inverse ETFs are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk, consequences of seeking daily leveraged investment results and intend to actively monitor and manage their investments. Leveraged ETFs are not designed to track the underlying index over periods longer than one trading day. The use of leverage increases the level of investment risk. Leverage will magnify gains or losses on those investments. Inverse ETFs lose value when the underlying investments rise in value. The investments have the risk of not meeting their stated daily investment objectives over a long-term period. DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 24  Cybersecurity Risks- As the use of technology has grown, there are ongoing cybersecurity risks that registered investment advisors and their clients must face. To the extent that DSG is subject to a cyberattack or other unauthorized access is gained to its systems, DSG and its Clients may be subject to substantial losses in the form of theft, loss, misuse, improper release or unauthorized access to confidential or restricted data related to DSG or its Clients. Cyberattacks affecting DSG’s service providers holding its financial or client data may also result in financial losses to Clients, despite efforts to prevent and mitigate such risks under DSG’s policies. While measures have been developed which are designed to reduce the risks associated with cybersecurity, there are inherent limitations in such measures and there is no guarantee those measures will be effective, particularly since DSG does not directly control the cybersecurity measures of its service providers and financial intermediaries with which it does business. Past performance is not a guarantee of future returns. Investing in securities and other investments involve a risk of loss that each Client should understand and be willing to bear. Clients are reminded to discuss these risks with the Advisor. Please see Item 8.B. – Risk of Loss in the Disclosure Brochure for details on investment risks. Proxy Voting DSG does not accept proxy-voting responsibility for any Client. Clients will receive proxy statements directly from the Custodian. The Advisor will assist in answering questions relating to proxies, however, the Client retains the sole responsibility for proxy decisions and voting. Item 7 – Client Information Provided to Portfolio Managers DSG is the sponsor and sole portfolio manager for the Program. The Advisor does not share Client information with other portfolio managers because it is the sole portfolio manager for this Wrap Fee Program. Please also see the DSG Privacy Policy (included after this Wrap Fee Program Brochure). Item 8 – Client Contact with Portfolio Managers DSG is a full-service investment management advisory firm. Clients always have direct access to the Portfolio Managers at DSG. Item 9 – Additional Information A. Disciplinary Information and Other Financial Industry Activities and Affiliations Securities laws require an advisor to disclose any instances where the Advisor or its Advisory Persons have been found liable in a legal, regulatory, civil or arbitration matter that alleges violation of securities and other statutes; fraud; false statements or omissions; theft, embezzlement or wrongful taking of property; bribery, forgery, counterfeiting, or extortion; and/or dishonest, unfair or unethical practices. DSG does not have any matters which require disclosure. DSG values the trust Clients place in the Advisor. The Advisor encourages Clients to perform the requisite due diligence on any advisor or service provider that the Client engages. The backgrounds of the Advisor or Advisory Persons are available on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with the Advisor’s firm name or CRD# 332056. Please see as well as Item 3 of each Advisory Person’s Brochure Supplement (included with this Wrap Fee Program Brochure) for additional information on how to research the background of the Advisor and its Advisory Persons. Other Financial Activities and Affiliations Please see Item 10 – Other Financial Activities and Affiliation and Item 14 – Client Referrals and Other Compensation of the Form ADV Part 2A – Disclosure Brochure (included with this Wrap Fee Program Brochure). B. Code of Ethics, Review of Accounts, Client Referrals, and Financial Information DSG has implemented a Code of Ethics that defines the Advisor’s fiduciary commitment to each Client. This Code of Ethics applies to all persons subject to DSG’s compliance program (our “Supervised Persons”). Complete details on the DSG Code of Ethics can be found under Item 11 – Code of Ethics, Participation in Client Transactions and Personal Trading in the Disclosure Brochure (included with this Wrap Fee Program Brochure). DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 25  Investments in Review of Accounts Client accounts are monitored on a regular and continuous basis by Advisory Persons of DSG under the supervision of the Chief Compliance Officer (“CCO”). Details of the review policies and practices are provided in Item 13 of the Form ADV Part 2A – Disclosure Brochure. Please see Other Compensation Participation in Institutional Advisor Platform Item 14 – Other Compensation in the Form ADV Part 2A – Disclosure Brochure (included with this Wrap Fee Program Brochure) for details on additional compensation that may be received by DSG or its Advisory Persons. Each Advisory Person’s Brochure Supplement (also included with this Wrap Fee Program Brochure) provides details on any outside business activities and the associated compensation. Client Referrals from Solicitors The Advisor does not compensate, either directly or indirectly, any persons who are not Supervised Persons, for Client referrals. Financial Information Neither DSG, nor its management, have any adverse financial situations that would reasonably impair the ability of DSG to meet all obligations to its Clients. Neither DSG, nor any of its Advisory Persons, have been subject to a bankruptcy or financial compromise. DSG is not required to deliver a balance sheet along with this Disclosure Brochure as the Advisor does not collect advance fees of $1,200 or more for services to be performed six quarters or more in the future. DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 26  Privacy Policy Effective: July 31, 2026 Our Commitment to You DSG Capital Advisors, LLC (“DSG” or the “Advisor”) is committed to safeguarding the use of personal information of our Clients (also referred to as “you” and “your”) that we obtain as your Investment Advisor, as described here in our Privacy Policy (“Policy”). Our relationship with you is our most important asset. We understand that you have entrusted us with your private information, and we do everything that we can to maintain that trust. DSG (also referred to as "we", "our" and "us”) protects the security and confidentiality of the personal information we have and implements controls to ensure that such information is used for proper business purposes in connection with the management or servicing of our relationship with you. DSG does not sell your non-public personal information to anyone. Nor do we provide such information to others except for discrete and reasonable business purposes in connection with the servicing and management of our relationship with you, as discussed below. Details of our approach to privacy and how your personal non-public information is collected and used are set forth in this Policy. Why you need to know? Registered Investment Advisors (“RIAs”) must share some of your personal information in the course of servicing your account. Federal and State laws give you the right to limit some of this sharing and require RIAs to disclose how we collect, share, and protect your personal information. What information do we collect from you? Driver’s license number Date of birth Social security or taxpayer identification number Assets and liabilities Name, address and phone number[s] Income and expenses E-mail address[es] Investment activity Account information (including other institutions) Investment experience and goals What Information do we collect from other sources? Custody, brokerage and advisory agreements Other advisory agreements and legal documents Transactional information with us or others Account applications and forms Investment questionnaires and suitability documents Other information needed to service account How do we protect your information? To safeguard your personal information from unauthorized access and use we maintain physical, procedural and electronic security measures. These include such safeguards as secure passwords, encrypted file storage and a secure office environment. Our technology vendors provide security and access control over personal information and have policies over the transmission of data. Our associates are trained on their responsibilities to protect Client’s personal information. We require third parties that assist in providing our services to you to protect the personal information they receive from us. DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 27  How do we share your information? An RIA shares Client personal information to effectively implement its services. In the section below, we list some reasons we may share your personal information. Basis For Sharing Do we share? Can you limit? Yes No No Not Shared Yes Yes No Not Shared Servicing our Clients We may share non-public personal information with non-affiliated third parties (such as administrators, brokers, custodians, regulators, credit agencies, other financial institutions) as necessary for us to provide agreed upon services to you, consistent with applicable law, including but not limited to: processing transactions; general account maintenance; responding to regulators or legal investigations; and credit reporting. Marketing Purposes DSG does not disclose, and does not intend to disclose, personal information with non-affiliated third parties to offer you services. Certain laws may give us the right to share your personal information with financial institutions where you are a customer and where DSG or the client has a formal agreement with the financial institution. We will only share information for purposes of servicing your accounts, not for marketing purposes. Authorized Users Your non-public personal information may be disclosed to you and persons that we believe to be your authorized agent[s] or representative[s]. Information About Former Clients DSG does not disclose and does not intend to disclose, non-public personal information to non-affiliated third parties with respect to persons who are no longer our Clients. Changes to our Privacy Policy We will send you a copy of this Policy annually for as long as you maintain an ongoing relationship with us. Periodically we may revise this Policy and will provide you with a revised Policy if the changes materially alter the previous Privacy Policy. We will not, however, revise our Privacy Policy to permit the sharing of non-public personal information other than as described in this notice unless we first notify you and provide you with an opportunity to prevent the information sharing. Any Questions? You may ask questions or voice any concerns, as well as obtain a copy of our current Privacy Policy by contacting us at (612) 515-9900. DSG Capital Advisors, LLC 7760 France Ave S, Suite 815, Edina MN 55435 Phone: (612) 515-9900 | Website: https://dsgcapitaladvisors.com Page 28