ELWOOD & GOETZ WEALTH ADVISORY GROUP, LLC

Firm Brochure This brochure provides information about the qualifications and business practices of Elwood & Goetz Wealth Advisory Group, LLC. If you have any questions about the contents of this brochure, please contact us at (706) 548-1025 or by email at: compliance@elwoodgoetz.com. The information in this brochure has not been approved or verified by the United States Securities and Exchange Commission or by any state securities authority. Additional information about Elwood & Goetz Wealth Advisory Group, LLC is also available on the SEC’s website at www.adviserinfo.sec.gov. Elwood & Goetz Wealth Advisory Group, LLC’s CRD number is: 154839 687 S Milledge Ave Athens, Georgia 30605 (706) 548-1025 www.elwoodgoetz.com compliance@elwoodgoetz.com Registration does not imply a certain level of skill or training. Version Date: 10/31/2025 1  Item 2: Material Changes There are no material changes made to this Brochure from the amendment dated February 21, 2025. Future Changes From time to time, we may amend this Disclosure Brochure to reflect changes in our business practices, changes in regulations, and routine annual updates as required by securities regulators. Either this complete Disclosure Brochure or a Summary of Material Changes shall be provided to each Client annually and if a material change occurs in the business practices of Elwood & Goetz. At any time, you may view the current Disclosure Brochure online at the SEC’s Investment Adviser Public Disclosure website at http://www.adviserinfo.sec.gov by searching for our firm name or by our CRD number 154839. You may also request a copy of this Disclosure Brochure at any time, by contacting us at (706) 548-1025. 2  Item 3: Table of Contents Item 2: Material Changes ................................................................................................................ 2 Item 3: Table of Contents ............................................................................................................... 3 Item 4: Advisory Business ............................................................................................................... 4 Item 5: Fees and Compensation .................................................................................................... 8 Item 6: Performance-Based Fees and Side-By-Side Management ..................................... 11 Item 7: Types of Clients ................................................................................................................. 11 Item 8: Methods of Analysis, Investment Strategies, and Risk of Investment Loss ........ 12 Item 9: Disciplinary Information .................................................................................................. 13 Item 10: Other Financial Industry Activities and Affiliations ................................................ 14 Item 11: Code of Ethics, Participation in Client Transactions & Personal Trading .......... 14 Item 12: Brokerage Practices ....................................................................................................... 15 Item 13: Reviews of Accounts ...................................................................................................... 16 Item 14: Client Referrals and Other Compensation ............................................................... 17 Item 15: Custody ............................................................................................................................. 17 Item 16: Investment Discretion .................................................................................................... 18 Item 17: Voting Client Securities (Proxy Voting) .................................................................... 18 Item 18: Financial Information ..................................................................................................... 18 3  Item 4: Advisory Business A. Description of the Advisory Firm Elwood & Goetz Wealth Advisory Group, LLC (hereinafter “Elwood & Goetz,” “E&G,” or “the firm”) is an independent, fee-only investment management and comprehensive financial planning firm serving primarily affluent and emerging affluent individuals, families, and their related entities, trusts, estates, and family businesses. Elwood & Goetz also manages endowments and company retirement plans (e.g., 401(k) plans). Elwood & Goetz has been in business since August 30th, 2010, and the founding principals are Ms. Lindsay Shae Elwood and Dr. Joseph William Goetz. Before August 30th, 2010, and since August 15th, 2006, the principals operated under the firm name Amicus Financial Advisors in Athens, Georgia. Thus, the firm principals have been bringing fiduciary-based, comprehensive financial planning to the greater Athens/Atlanta community for 19 years. The firm is registered with the U.S. Securities and Exchange Commission (SEC) and currently serves clients across the state of Georgia as well as 37 other states across the country. This client brochure is regularly updated and always available through the SEC. Updated versions of the client brochure are periodically provided to clients of the firm and available upon request at any time. The firm works with clients to develop financial and life goals and strategies to reach those goals. These strategies typically involve: retirement planning, retirement income-distribution planning, investment management, tax planning, wealth preservation and asset protection, budget and cash flow management, risk management and insurance planning, human capital and education planning, estate and legacy planning, business succession planning, and other strategies that may be specific to the client. The firm’s compensation is solely from fees paid directly by clients. No commissions in any form are accepted. No referral fees are paid or accepted. No benefits are received from custodians based on client securities transactions (“soft dollar benefits”). Based on their fee- only compensation model, Elwood & Goetz is a registered firm with the National Association of Personal Financial Advisors (NAPFA). B. Types of Advisory Services Elwood & Goetz Wealth Advisory Group, LLC offers the following services to clients: 4  Investment Supervisory Services Elwood & Goetz offers ongoing portfolio management services based on the individual goals, objectives, time horizon, risk capacity, risk needed, and risk tolerance of each client. E&G creates an Investment Policy Statement that outlines the client’s current financial situation and the investment portfolio recommended for the client. Investment Supervisory Services include: • Evaluation of Clients’ Current Investments and Investment Strategy • Assessment of Risk Tolerance, Capacity, Requirements to Meet Goals • Development of a Recommended Investment Strategy, including Investment Selection, Asset Allocation, and Asset Location Decisions Investment Education for the Benefit of the Client Investment Supervisor Services include Financial Planning Services as described later in • Construction of a Personalized Investment Policy Statement (IPS) & Strategy • • Regular Investment Portfolio Rebalancing & Tax Loss/Gain Harvesting • Ongoing Monitoring of the Investment Portfolio • this Item 4. Elwood & Goetz requests discretionary authority from clients. Discretionary authority means that the client grants E&G a standing authorization to select investments and execute trades on the client's behalf without obtaining permission prior to each individual action. Elwood & Goetz uses third-party platforms to facilitate management of held away assets such as defined contribution plan participant accounts, with discretion. These platforms allow us to avoid being deemed to have custody of client funds since we do not have direct access to client log-in credentials. We are not affiliated with these platforms in any way and receive no compensation from them for using their platform. Financial Planning Services Comprehensive and Project-Based Financial Plans are tailored to each client and may include: • Goal Development • Retirement Planning • Employee Benefits Review 5  • Risk Management & Insurance Review • Tax Planning • Saving and Investment Planning • Human Capital Planning • Cash Flow Planning • Debt Management • Estate & Legacy Planning • Education Funding • Business Planning These services are based on fixed or hourly fees, and the final fee structure is documented in Exhibit I of the Advisory Agreement. Cash Management Services Cash Management Services are designed for clients who want a separate portfolio solely in cash equivalents and short-term fixed-income. Corporate Retirement Plan Services Elwood & Goetz offers consulting services as a 3(38)-investment fiduciary for 401(k), pension, profit sharing plans and other employee benefit plans. These pension consulting services may include, but are not limited to: Identifying investment objectives and restrictions • • Providing guidance on various assets classes and investment options • Recommending money managers to manage plan assets in ways designed to achieve objectives • Monitoring performance of money managers and investment options and making recommendations for changes • Recommending other service providers, such as custodians, administrators, and broker- dealers • Creating a written pension consulting plan These services are based on the goals, objectives, demographics, time horizon, and/or risk tolerance of the plan and its participants. 6  Services Limited to Specific Types of Investments E&G generally limits its investment advice and/or investment management to mutual funds, exchange traded funds (ETFs), real estate investment trusts (REITs), stocks, bonds, debt securities, and insurance contracts. Written Acknowledgement of Fiduciary Status When we provide investment advice to you regarding your retirement plan account or individual retirement account, we are fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. The way we make money creates some conflicts with your interests, so we operate under a special rule that requires us to act in your best interest and not put our interest ahead of yours. Under this special rule’s provisions, we must: • Meet a professional standard of care when making investment recommendations (give prudent advice); • Never put our financial interests ahead of yours when making recommendations (give loyal advice); • Avoid misleading statements about conflicts of interest, fees, and investments; • Follow policies and procedures designed to ensure that we give advice that is in your best interest; • Charge no more than is reasonable for our services; and • Give you basic information about conflicts of interest. C. Client Tailored Services and Client Imposed Restrictions Elwood & Goetz offers the same suite of services to all its clients. However, client financial plans and the implementation of the plans are dependent upon each client’s specific and current financial situation. Investment portfolios are recommended to match the restrictions, needs, and targets of each client. Clients may impose restrictions in investing in certain securities or types of securities in accordance with their values or beliefs. However, if the restrictions prevent E&G from properly servicing the client account, or if the restrictions would require E&G to deviate from its standard suite of services, E&G reserves the right to end the relationship. 7  D. Wrap Fee Programs E&G does not participate in wrap fee programs. E. Managed Assets As of December 31, 2024, Elwood & Goetz manages approximately $813,016,044 in assets under management, all of which is managed on a discretionary basis. Elwood & Goetz does not currently manage any assets on a non-discretionary basis. Item 5: Fees and Compensation A. Fee Schedule Investment Supervisory Fees Advisory fees are based on the value of the portfolio, with a minimum monthly fee of $350. Fees are calculated monthly in arrears using the portfolio value on the last day of the month. Investable Assets Under Management Annual Fee 1.00% First $2,000,000 0.75% Assets of $2,000,001 - $5,000,000 0.50% Assets of $5,000,001 - $50,000,000 0.25% Assets over $50,000,000 *Clients with managed portfolios under $420,000 will incur an effective higher annual fee than the table above due to the $350 monthly minimum. How Fees Are Paid: • For portfolios over $420,000: Fees are automatically deducted from the managed portfolio with written authorization. • For portfolios under $420,000: The $350/month minimum fee applies and will be paid 8  via electronic funds transfer (EFT) from your checking account. Monthly EFT payments will typically process between the 15th and 30th of each month. Once the client’s portfolio exceeds $420,000, they will automatically switch to the percentage-based fee (see table above), and fees will then be deducted from their portfolio. Hourly Rate On rare occasions, financial planning services may be assessed at a fixed-fee or hourly rate. Hourly rates range from $250 per hour to $500 per hour based on staff expertise and situational complexity. The final fee structure is documented in Exhibit I of the Advisory Agreement. Clients may terminate their relationship with E&G with written notice at any time without penalty. Cash Management Services Fees Investable Assets Under Management Annual Fee Cash-equivalent managed assets held 0.25% outside long-term investment portfolio Corporate Retirement Plan Services Fees Investable Assets Under Management Annual Fee 0.50% First $5,000,000 0.40% Next $5,000,000 0.30% Next $15,000,000 0.20% All assets above $25,000,000 Elwood & Goetz Wealth Advisory Group bases its fees on a percentage of the total assets they manage for each plan (see chart above). The fee will be based upon a blended calculation. For example, the effective annual fee rate for a client with assets under management of $12,000,000 will be 0.4250%. 9  Clients may terminate their agreement with E&G with written notice at any time without penalty. B. Payment of Fees Payment of Investment Supervisory & Financial Planning Fees For convenience and as a tax minimization strategy, advisory fees may be withdrawn directly from the client’s account(s) with the client’s written authorization. Fees are paid monthly in arrears and are based on the ending portfolio value of the last day of the month. For clients with investment portfolio values of less than $420,000, advisory fees are paid using electronic funds transfer (ETF) from the client’s checking account. Payment of Corporate Retirement Plan Services Fees Corporate Retirement Plan service fees are withdrawn directly from the plan’s accounts with the plan sponsor’s written authorization. Fees are paid quarterly in arrears. C. Clients Are Responsible For Third Party Fees Clients are responsible for the payment of all third-party fees. These fees include: • Each Mutual Fund and Exchange Traded Fund (ETF) has an underlying expense ratio associated with it. Expense ratios are generally assessed to cover the management expenses of the mutual fund/ETF and must be disclosed on the prospectus of each mutual fund/ETF. These fees are evaluated by E&G prior to the mutual fund/ETF being chosen for inclusion in E&G’s investment portfolios. E&G ensures the underlying expense ratio on mutual funds/ETFs remains relatively low. • Custodians (e.g., Charles Schwab Institutional, a division of Charles Schwab & Co., Inc.) may charge transaction fees for the purchase or sale of certain investments. Transaction fees are relatively small and are incidental to the purchase or sale of the investment. Transaction fees will be considered and minimized as much as possible before trades are placed in any clients’ investment portfolio. 10  In some cases, custodians charge a custody fee for the service of accounts. • The fees described above are separate and distinct from the fees charged by E&G. E&G is only paid by clients and receives no compensation from any outside company; this is by design to avoid conflicts of interest. Please see Item 12 of this brochure regarding broker/custodian. D. Prepayment of Fees E&G collects fees in arrears; thus, there is no prepayment of fees and no need for a refund policy. E. Outside Compensation For Sale of Investment Products Neither E&G nor its supervised persons accept any compensation for the sale of securities or other investment products, including asset-based sales charges or services fees from the sale of mutual funds. The firm’s compensation is derived solely from fees paid directly by clients. E&G is a fee-only firm. Item 6: Performance-Based Fees and Side-By-Side Management Elwood & Goetz does not accept performance-based fees or other fees based on a share of capital gains on or capital appreciation of the assets of a client because of the potential conflict of interest. Performance- based compensation creates a strong incentive for an advisor to recommend riskier investments than what may be appropriate. Item 7: Types of Clients E&G generally provides investment advice and/or management supervisory services to individuals, families, trusts, estates, and charitable organizations. Advice may be extended to entities related to the client such as businesses and charitable organizations, including foundations and endowments. E&G also works with business owners/plan sponsors to implement, manage, and monitor retirement plans. 11  Item 8: Methods of Analysis, Investment Strategies, and Risk of Investment Loss A. Methods of Analysis and Investment Strategies E&G’s investment philosophy is based, in large part, on Modern Portfolio Theory and the benefits of seeking broad global diversification through the application of strategic asset allocation. Investment decisions are based on a combination of historical data, peer-reviewed academic research, and analysis of current economic indicators. E&G’s investment strategy is predominately passive in nature in terms of individual security selection with a focus on asset allocation decisions and impact. The firm predominantly uses passively managed index funds and exchange traded funds (ETFs) to populate most asset classes. The firm evaluates investment portfolios for asset location decisions to maximize after-tax investment returns for each client. E&G manages all clients’ investment accounts, including all employer-based retirement accounts, as one overall portfolio to allow for the purposes of attaining the greatest investment growth and tax efficiency. Investment Strategies E&G uses a long-term trading strategy as well as strategic and tactical asset allocation. Long-term trading strategies emphasize the importance of investing for a long-term time horizon. E&G encourages clients to keep the money needed from their investment portfolios within one to two years outside of their long-term investment portfolio. Strategic asset allocation involves the analysis of asset classes to determine the long-term asset allocation that is best suited for an investor by using information from both the capital market and the investor’s personal financial situation. Tactical asset allocation involves the analysis of asset classes to determine how the long-term (i.e. strategic) asset allocation should be adjusted to account for changing market conditions and expectations. 12  B. Material Risks Involved Investment Strategies Long term trading is designed to capture long-term growth in the stock and bond markets. Frequent trading, when done, can adversely affect investment performance, particularly through increased transaction costs and taxes. Strategic asset allocation decisions are generally based on past risk levels and the performance of each asset class. Because past risk levels and performance is not a guarantee of future risk levels and performance, actual client portfolio returns may vary from what is expected. Tactical asset allocation decisions are generally based on the expected future returns of certain asset classes given the current market conditions. If these expectations are incorrect, the actual investment portfolio performance may vary from what is expected. Past performance is not a guarantee of future returns. Investing in the stock and bond markets involves a risk of loss that you, as a client, should be prepared to bear. C. Risks of Specific Securities Utilized E&G generally seeks investment strategies that do not involve significant or unusual risk beyond that of the general domestic and/or international equity markets. Item 9: Disciplinary Information There are no legal or disciplinary events that are material to a client’s or prospective client’s evaluation of this advisory business or the integrity of our management. No complaints have ever been filed with any regulatory entity regarding any member of the firm. 13  Item 10: Other Financial Industry Activities and Affiliations A. Registration as a Broker/Dealer or Broker/Dealer Representative Neither E&G nor its representatives are registered as a broker/dealer or as representatives of a broker/dealer. B. Registration as a Futures Commission Merchant, Commodity Pool Operator, or a Commodity Trading Advisor Neither E&G nor its representatives are registered as a FCM, CPO, or CTA. C. Registration Relationships Material to this Advisory Business and Possible Conflicts of Interests Drs. Lance Palmer and Joseph William Goetz are tenured full professors of financial planning at the University of Georgia. There are no known conflicts of interest, and E&G always acts in the best interest of the client. D. Selection of Other Advisors or Managers and How This Adviser is Compensated for Those Selections E&G does not utilize or select other advisors or third-party portfolio managers. All assets are managed by E&G. Item 11: Code of Ethics, Participation in Client Transactions & Personal Trading A. Code of Ethics All members of Elwood & Goetz Wealth Advisory Group adhere to the code of Ethics and Fiduciary Oath as prescribed by the National Association of Personal Financial Advisors (NAPFA). We also adhere to the Code of Ethics as prescribed by the CFP® Board of Standards. In addition, we have a written Code of Ethics that covers the following areas: Prohibited Purchases and Sales, Insider Trading, Personal Securities Transactions, Exempted 14  Transactions, Prohibited Activities, Conflicts of Interest, Gifts and Entertainment, Confidentiality, Service on a Board of Directors, Compliance Procedures, Compliance with Laws and Regulations, Procedures and Reporting, Certification of Compliance, Reporting Violations, Compliance Officer Duties, Training and Education, Recordkeeping, Annual Review, and Sanctions. Clients may request a copy of our Code of Ethics from management at any time. B. Recommendations Involving Material Financial Interests E&G does not recommend that clients buy or sell any security in which a related person to E&G has a material financial interest. C. Investing Personal Money in the Same Securities as Clients From time to time, representatives of E&G may buy or sell securities for themselves that they also recommend to clients. E&G will always document any transactions that could be construed as a conflict of interest and will always transact their own business so as not to disadvantage clients when similar securities are being bought or sold. D. Trading Securities At/Around the Same Time as Clients’ Securities From time to time, representatives of E&G may buy or sell securities for themselves at or around the same time as clients. E&G will not trade non-mutual fund or non-ETF securities 5 days prior to or 5 days after trading the same security for clients. Item 12: Brokerage Practices A. Factors Used to Select Custodians and/or Broker/Dealers E&G’s primary Custodian (i.e., Charles Schwab Institutional, a division of Charles Schwab & Co., Inc.) was chosen based on their relatively low transaction fees and broad access to mutual funds and ETFs. E&G will never charge a premium or commission on transactions, beyond the actual cost imposed by the Custodian. Research and Other Soft-Dollar Benefits While E&G has no formal soft dollar program in which soft dollars are used to pay for third party services, E&G may receive research, products, or other services from custodians and 15  broker-dealers in connection with platform participation. There can be no assurance that any particular client will benefit from such products and services, and E&G does not seek to allocate such benefits to client accounts proportionate to any platform participation by the accounts. E&G benefits by not having to produce or pay for such research, products or services, and E&G will have an incentive to recommend a broker-dealer based on receiving research or services. Brokerage for Client Referrals E&G receives no referrals from a custodian in exchange for using that custodian. Clients Directing Which Broker/Dealer/Custodian to Use E&G allows clients to direct brokerage; however, E&G may be unable to achieve the most favorable execution of client transactions if clients choose to direct brokerage. B. Aggregating (Block) Trading for Multiple Client Accounts E&G bunches client transactions into block trades across accounts that are purchasing the same security at the same time. Block trading benefits clients by purchasing larger blocks in groups and all clients participating in the block trade will receive the same execution price. E&G representatives may participate in these block trades. Item 13: Reviews of Accounts A. Frequency and Nature of Periodic Reviews and Who Makes Those Reviews Client accounts are reviewed at least quarterly by the financial planning team, considering each client’s investment policies and risk tolerance level. All financial plans are reviewed prior to plan delivery by at least two members of the financial planning team. B. Factors That Will Trigger a Non-Periodic Review of Client Accounts 16  Reviews may be triggered by material market, economic or political events, or by changes in the client's financial situation (such as retirement, termination of employment, physical move, or inheritance). C. Content and Frequency of Regular Reports Provided to Clients Each client will receive at least quarterly a statement detailing their investment account(s) directly from their chosen custodian(s). Additionally, each client has access to a personal client vault, which aggregates their investment account(s) in one place for ease of access and monitoring. Clients are also provided with an initial financial plan containing recommendations on their current financial situation and future goals. After the presentation of the initial financial plan, additional financial planning reports and/or updates are provided on an as-needed basis. Item 14: Client Referrals and Other Compensation A. Economic Benefits Provided by Third Parties for Advice Rendered to Clients (Includes Sales Awards or Other Prizes) E&G does not receive any economic benefit, directly or indirectly from any third party for advice rendered to E&G clients. B. Compensation to Non –Advisory Personnel for Client Referrals E&G does not directly or indirectly compensate any person who is not advisory personnel for client referrals. Item 15: Custody Custody is disclosed in Form ADV because E&G has authority to transfer money within client account(s), which constitutes a standing letter or authorization (SLOA). Accordingly, E&G will follow the safeguards specified by the SEC rather than undergo an annual audit. 17  Client accounts are held primarily at Schwab Institutional, a division of Charles Schwab & Co., Inc. Clients will receive account statements from the Schwab Institutional and should carefully review those statements. Item 16: Investment Discretion E&G maintains limited power of attorney over client investment accounts. This allows E&G to buy and sell securities on behalf of their clients at their discretion. All buying and selling of securities is explained to clients in detail before an advisory relationship has commenced. Item 17: Voting Client Securities (Proxy Voting) E&G will neither ask for nor accept voting authority for client securities. Clients will receive proxies directly from the issuer of the security or the custodian. Clients should direct all proxy questions to the issuer of the security. Item 18: Financial Information A. Balance Sheet E&G does not require nor solicit prepayment of fees; therefore, it is not necessary for E&G to include a balance sheet with this brochure. B. Financial Conditions Reasonably Likely to Impair Ability to Meet Contractual Commitments to Clients Neither E&G nor the management of E&G has any financial conditions likely to reasonably impair their ability to meet contractual commitments to clients. C. Bankruptcy Petitions in Previous Ten Years E&G has not been the subject of a bankruptcy petition at any time. 18