EVOLVE PRIVATE WEALTH, LLC

Evolve Private Wealth, LLC Form ADV Part 2A – Disclosure Brochure Effective: January 29, 2026 This Form ADV Part 2A (“Disclosure Brochure”) provides information about the qualifications and business practices of Evolve Private Wealth, LLC (“Evolve” or the “Advisor”). If you have any questions about the content of this Disclosure Brochure, please contact the Advisor at (424) 500-4601. Evolve 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 Evolve to assist you in determining whether to retain the Advisor. information about Evolve and its Advisory Persons is available on the SEC’s website at Additional www.adviserinfo.sec.gov by searching with the Advisor’s firm name or CRD# 333932. Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 https://evolvepw.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 Evolve. Evolve 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. Evolve 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 initial filing and delivery to Clients: ● Effective January 14th, 2026, the Advisor has appointed Razmig Der-Tavitian as Chief Compliance Officer ● The Advisor serves as the investment manager to pooled investment vehicles. Please see Items 4, 5, 7, 8, 12, 13, and 15 for additional information. ● The Advisor may recommend Clients utilize non-purpose loan programs. Please see Items 4 and 8 for additional information ● The Advisor’s phone number is now (424) 500-4601. ● Effective January 1, 2026, the Advisor has updated its name to Evolve Private Wealth, LLC. ● Evolve Wealth Insurance LLC is an affiliated insurance company. Please see item 10 for additional information. ● The Advisor has established an institutional relationship with Charles Schwab & Co., Inc. (“Schwab”). Please see items 12 and 14 for additional information. ● The Advisor may assume proxy voting responsibility for Clients. Please see item 17 for additional information. 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# 333932. You may also request a copy of this Disclosure Brochure at any time by contacting the Advisor at (424) 500-4601. Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 2 https://evolvepw.com/  Item 3 – Table of Contents Item 1 – Cover Page Item 2 – Material Changes 1 2Item 3 – Table of Contents 2Item 4 – Advisory Services 4A. Firm Information 4B. Advisory Services Offered 4C. Client Account Management 6D. Wrap Fee Programs 7E. Assets Under Management 7Item 5 – Fees and Compensation 7A. Fees for Advisory Services 7B. Fee Billing 8C. Other Fees and Expenses 9D. Advance Payment of Fees and Termination 9E. Compensation for Sales of Securities 10Item 6 – Performance-Based Fees and Side-By-Side Management 10Item 7 – Types of Clients 11Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss 11A. Methods of Analysis 11B. Risk of Loss 11Item 9 – Disciplinary Information 13Item 10 – Other Financial Industry Activities and Affiliations 13Item 11 – Code of Ethics, Participation or Interest in Client Transactions and Personal Trading 13A. Code of Ethics 13B. Personal Trading with Material Interest 14C. Personal Trading in Same Securities as Clients 14D. Personal Trading at Same Time as Client 14Item 12 – Brokerage Practices 14A. Recommendation of Custodian[s] 14B. Aggregating and Allocating Trades 15Item 13 – Review of Accounts 15A. Frequency of Reviews 15B. Causes for Reviews 15C. Review Reports 15Item 14 – Client Referrals and Other Compensation 16A. Compensation Received by Evolve 16B. Compensation for Client Referrals 17Item 15 – Custody 17Item 16 – Investment Discretion 17Item 17 – Voting Client Securities 17Item 18 – Financial Information 18Privacy Policy 19 Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 3 https://evolvepw.com/  Item 4 – Advisory Services A. Firm Information Evolve Private Wealth, LLC (“Evolve” or the “Advisor”) is a registered investment advisor with the U.S. Securities and Exchange Commission. The Advisor is organized as a Limited Liability Company (LLC) under the laws of the State of Delaware. Evolve was founded in September 2022 and became an independent registered investment advisor in January 2025. Evolve is a wholly owned subsidiary of Evolve Wealth Holdings, LLC and is operated by Glen Strauss (Founder & Managing Partner), Jonathan Lewis (Founder & Managing Partner), Edward Kahn (Founder & Managing Partner), Razmig Der Tavitian (Chief Investment Officer, Chief Compliance Officer & Managing Partner), Adam Weinstock (Managing Partner), and Hank Krakover (Partner & Portfolio Manager). This Disclosure Brochure provides information regarding the qualifications, business practices, and the advisory services provided by Evolve. B. Advisory Services Offered Evolve offers investment advisory services to individuals, high net worth individuals, trusts, estates, charitable organizations, financial institutions, and pooled investment vehicles (each referred to as a “Client”). The Advisor 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. Evolve'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. Wealth Management Services Evolve provides customized wealth management services for its Clients. This is achieved through continuous personal Client contact and interaction while providing discretionary and non-discretionary investment management services and a broad range of comprehensive financial planning. These services are listed below. Investment Management Services – The Advisor provides discretionary and non-discretionary investment management services. The Advisor works closely with each Client to identify their investment goals, objectives, risk tolerance and financial situation in order to create a portfolio strategy. Evolve will then construct an investment portfolio, consisting of low-cost, diversified mutual funds, exchange-traded funds (“ETFs”), individual stocks, and/or bonds to achieve the Client’s investment goals. The Advisor may also utilize independent managers, options and alternative investments to meet the needs of its Clients. The Advisor may retain Client’s legacy investments based on portfolio fit and/or tax considerations. The Advisor ’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. The Advisor 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. The Advisor evaluates and selects investments for inclusion in Client portfolios only after applying its internal due diligence process. The Advisor may recommend, on occasion, redistributing investment allocations to diversify the portfolio. The Advisor 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. The Advisor 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 Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 4 https://evolvepw.com/  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) advisory 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 – When deemed to be in the Client’s best interest, Evolve will recommend that Clients utilize one or more unaffiliated investment managers or investment platforms (collectively “Independent Managers”) for all or a portion of a Client’s investment portfolio, based on the Client’s needs and objectives. In certain instances, the Client may be required to authorize and enter into an investment management agreement with the Independent Manager[s] that defines the terms in which the Independent Manager[s] 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). Non-Purpose Loans – When deemed to be in the Client’s best interest, the Advisor will introduce Clients to available to non-purpose loan programs (“Lending Program”). In such instances, the Client’s assets in their account[s] at the Custodian will be utilized as collateral for a non-purpose loan. The recommendation of a Lending Program presents a conflict of interest as the Advisor will continue to receive investment advisory fees for managing the collateralized assets in the Client’s account[s]. Clients are not obligated to engage the Advisor for the Lending Program. For additional information related to the risks involved non-purpose loans, please see Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss. At no time will the Advisor accept or maintain custody of a Client’s funds or securities, except for the limited authority as outlined in Item 15 – Custody. All Client assets will be managed within the designated account[s] at the Custodian, pursuant to the terms of the advisory agreement. Please see Item 12 – Brokerage Practices. Financial Planning Services – The Advisor provides a variety of financial planning and consulting services to Clients as part of its wealth management services. 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, and 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. 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 increase the level of investment assets with the Advisor, as it would increase the amount of advisory 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 to act on any of the recommendations made by the Advisor, the Client is under no obligation to implement the transaction through the Advisor. Private Fund Services The Advisor also serves as an investment manager to pooled investment vehicles (each a “Fund” and collectively the “Funds”). These services are detailed in the offering documents for the Funds, which include as applicable, operating agreements, private placement memorandum and/or term sheets, subscription agreements, separate disclosure documents, and all amendments thereto (“Offering Documents”). Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 5 https://evolvepw.com/  The Advisor manages the Funds based on the investment objectives, policies and guidelines as set forth in the respective Offering Documents and not in accordance with the individual needs or objectives of any particular investor therein. Each prospective investor (herein “Investors”) interested in investing in the Funds is required to complete a subscription agreement in which the prospective investor attests as to whether or not such prospective investor meets the qualifications to invest in the Funds and further acknowledges and accepts the various risk factors associated with such an investment. Please note, there are two different classes of interests for Investors in the Fund. “Advisory Class” is available for subscription by eligible Investors who are existing Clients of the Advisor, while the “Non-Advisory Class” is available for subscription by eligible Investors who are not advisory clients of the Advisor. The Advisor will recommend that certain Clients invest in the Funds. The recommendation to invest in the Funds poses a conflict between the interests of the Advisor and the interests of the Client, as the Advisor is incentivized to increase the amount of assets in the Funds in order to increase the revenue generated to the Advisor. To mitigate this conflict Advisory Class Investors will not be assessed any fund management fees. Clients of the Advisor are under no obligation to invest in the Funds. Please see Item 5 for additional information. For more detailed information on investment objectives, policies and guidelines, please refer to the respective Fund’s Offering Documents. Financial Institution Consulting Services Evolve provides investment consulting services to brokerage customers (herein “Brokerage Customers”) of Mutual Securities, Inc. (herein “MSI”) who provide written consent requesting to receive the Advisor’s consulting services, pursuant to a written agreement with the Advisor. Consulting services are strictly on products Clients have purchased through Mutual Securities, Inc. Please see Item 10 – Other Financial Industry Activities and Affiliations for additional details. Retirement Plan Advisory Services The Advisor provides 3(21) 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 ● Vendor Analysis ● Plan Participant Enrollment and Education Tracking ● ● Ongoing Investment Recommendation and Assistance ● Performance Reports ● ERISA 404(c) Assistance ● Benchmarking Services These services are provided by the Advisor 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 the Advisor’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 Evolve to provide investment advisory services, each Client is required to enter into one or more 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 – Evolve, in connection with the Client, will develop a strategy that seeks to achieve the Client’s goals and objectives. Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 6 https://evolvepw.com/  ● Asset Allocation – Evolve 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 – Evolve will develop a portfolio for the Client that is intended to meet the stated goals and objectives of the Client. ● Investment Management and Supervision – Evolve will provide wealth management and ongoing oversight of the Client’s investment portfolio. D. Wrap Fee Programs Evolve does not manage or place Client assets into a wrap fee program. Wealth management services are provided directly by Evolve. E. Assets Under Management As of December 31, 2025, Evolve manages $2,147,950,288 in Client assets, all of which are managed on a discretionary basis. Clients may request more current information at any time by contacting the Advisor. 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 Wealth Management Services Wealth management fees are paid monthly, in advance of each month pursuant to the terms of the wealth management agreement. Wealth management fees are based on the market value of assets under management at the end of the prior month. Wealth management fees range up to 1.50% annually based on several factors, including: the scope and complexity of the services to be provided; the level of assets to be managed; and the overall relationship with the Advisor. Relationships with multiple objectives, specific reporting requirements, portfolio restrictions and other complexities may be charged a higher fee. The wealth management fee in the first month of service is prorated from the inception date of the account[s] to the end of the first month. 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. All securities held in accounts managed by Evolve will 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. Use of Independent Managers – As noted in Item 4, the Advisor may allocate all or a portion of a Client’s investment portfolio to one or more Independent Managers. To eliminate any conflict of interest, the Advisor does not receive any compensation from an Independent Manager and earns only its wealth management fee as described above. For dual contract arrangements, the Independent Manager’s fee is disclosed in its brochure and applicable agreement with the Client. In single contract engagements, the fee terms are outlined in the executed agreement between the Advisor and the Independent Manager. Clients will receive an addendum specifying the Independent Manager’s fee. The total blended fee, including both the Advisor’s and the Independent Manager’s fees, will not exceed 3.00% annually Private Fund Services The Advisor will charge the Fund an annual fee ranging up to 0.70% depending on the Investor Class and pursuant to the terms of the Fund’s Offering Documents. Non advisory client Investors will also be subject to carried interest as outlined in Item 6 below. Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 7 https://evolvepw.com/  The investment management fee shall accrue beginning on the initial closing date and will be payable quarterly in advance, calculated as of the commencement of such quarter (or as of the initial closing date in the event of the first period) on the last business day preceding each investment management fee payment date, with the first such payment due and payable as of the initial closing date. Investors should refer the respective Fund’s Offering Documents for more detailed information on advisory fees. Financial Institution Consulting Services Evolve receives a consulting fee based on the assets under MSI’s management from Brokerage Customers who have provided written consent to MSI to receive the consulting service from the Advisor. The consulting fee is calculated from the assets under MSI’s management as of the end of a calendar quarter period multiplied by the annualized rate of 0.65%. The initial fee is paid only after the completion of one full calendar quarter period following the date of the executed agreement with MSI. Retirement Plan Advisory Services Retirement plan advisory fees are charged an annual asset-based fee of up to 1.50%. Fees may be billed monthly or quarterly (“Billing Period”) in advance or arrears pursuant to the terms of the retirement plan advisory agreement. Retirement plan fees are based on the market value of assets under management at the end of the Billing Period. Fees may be negotiable depending on the size and complexity of the Plan but shall not exceed the fee range stated above. B. Fee Billing Wealth Management Services Wealth 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 beginning of the respective month. The amount due is calculated by applying the monthly rate (annual rate divided by 12) to the total assets under management with Evolve at the end of the prior month. Clients may make additions to and withdrawals from their account[s] at any time. However, reconciliations are performed on a monthly basis to capture if, at any point, assets greater than or equal to $10,000 are deposited into or withdrawn from an account after the start of the monthly billing period. An adjustment will be made in the form of a credit or debit the following billing period to reflect the interim change in portfolio value from the date of the deposit/withdrawal until the end of the month. Clients will be provided with a statement, at least quarterly, from the Custodian reflecting deduction of the wealth management fee. Clients are urged to review the brokerage statement from the Custodian, as the Custodian does not perform a verification of fees. Clients provide written authorization permitting advisory fees to be deducted by Evolve to be paid directly from their account[s] held by the Custodian as part of the wealth management agreement and separate account forms provided by the Custodian. Use of Independent Managers – For Client accounts managed by an Independent Manager, the total fees may include Evolve’s wealth management fee (as noted above), along with any investment management and/or platform fees charged by the Independent Manager(s), as applicable. In certain cases, either the Independent Manager or the Advisor may be responsible for calculating the Client’s fees and deducting all applicable fees directly from the Client’s account(s). Private Fund Services The investment management fee shall accrue beginning on the initial closing date and will be payable quarterly in advance, calculated as of the commencement of such quarter (or as of the initial closing date in the event of the first period) on the last business day preceding each investment management fee payment date, with the first such payment due and payable as of the initial closing date. The fee shall be paid from each Investors capital account based on a proportionate share of the investment management fee. Investors should refer the respective Fund’s Offering Documents for more detailed information on fee billing methodology. Financial Institution Consulting Services MSI shall calculate and pay the Advisor for its consulting services on or before thirty (30) days past the end of each calendar quarter. Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 8 https://evolvepw.com/  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. C. Other Fees and Expenses Clients may incur certain fees or charges imposed by third parties, other than Evolve, in connection with investments made on behalf of the Client’s account[s]. The Client is responsible for all custody and securities execution fees charged by the Custodian, as applicable. The Advisor's recommended Custodian typically does 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, Clients who elect to receive paper statements from Fidelity are subject to third-party charges, which include securities transaction fees for ETF and equity trades. The Custodian will also typically charge for mutual funds and other types of investments. The fees charged by Evolve are separate and distinct from these custody and execution fees. In addition, all fees paid to Evolve for wealth management services are separate and distinct from the expenses charged by 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 Evolve, but would not receive the services provided by Evolve 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 Evolve to fully understand the total fees to be paid. Please refer to Item 12 – Brokerage Practices for additional information. Private Fund Services Each Fund is responsible for paying its own expenses, which include but are not limited to tax, litigation, indemnification, and other extraordinary expenses, as well as for all operating expenses of the Fund. Notwithstanding the foregoing, any fees and expenses may be allocated to, and borne by, each Investor based on its percentage interest, provided, that, any such expenses may be allocated to, and borne by the Investors in such manner as the general partner determines in its sole discretion to be appropriate under the circumstances. Investors should refer the respective Fund’s Offering Documents for more detailed information on other fees expenses. D. Advance Payment of Fees and Termination Wealth Management Services Evolve is compensated for its wealth management services in advance of the month in which services are rendered. Either party may terminate the wealth management agreement, at any time, by providing advance written notice to the other party. The Client may also terminate the wealth management 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 wealth management fees from the effective date of termination to the end of the month. The Client’s wealth management agreement with the Advisor is non-transferable without the Client’s prior consent. Use of Independent Managers – If the Advisor determines that an Independent Manager is no longer in the Client’s best interest, or if the Client wishes to terminate their relationship with the Independent Manager, the termination terms will be governed by the applicable agreements. In a dual contract arrangement, the terms will be outlined in the agreement between the Client and the Independent Manager, whereas in a single contract engagement, they will be specified in the agreement between the Advisor and the Independent Manager. Evolve will assist the Client with the termination and transition process as appropriate. Private Fund Services Evolve is compensated for its private fund services in advance of the quarter in which services are rendered. Either party may request to terminate the Fund’s management agreement, at any time, by providing ninety (90) days Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 9 https://evolvepw.com/  advance written notice to the other party. The Funds shall be responsible for fees up to and including the effective date of termination. The Fund’s agreement with the Advisor is non-transferable without the Fund’s prior consent. Investors should refer to the Offering Documents for more detailed information on the withdrawal and termination process. Financial Institution Consulting Services Either party may terminate the consulting agreement by providing thirty (30) days advance written notice to the other party. The Advisor will be entitled to fees up to the date of termination. Retirement Plan Advisory Services The Advisor may be compensated for its services at the beginning of the Billing Period before services are rendered pursuant to the terms of the retirement plan advisory agreement. 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 shall be responsible for fees up to and including the effective date of termination. If the fees are billed in advance, the Advisor will refund any unearned, prepaid retirement plan advisory fees from the effective date of termination to the end of the Billing Period. The Client’s retirement plan services agreement with the Advisor is non-transferable without the Client’s prior consent. E. Compensation for Sales of Securities Evolve 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 wealth management fees noted above. Insurance Agency Affiliation Evolve is also a licensed insurance agency and certain Advisory Persons are licensed as insurance professionals. Evolve may earn commission-based compensation for selling insurance products, including insurance products sold to Clients. Insurance commissions earned by Evolve is separate and in addition to advisory fees. This practice presents a conflict of interest as Advisory Persons and members of Evolve’s management have an incentive to recommend insurance products for the purpose of generating commissions and revenue rather than solely based on Client needs. Evolve will never earn both a commission and an ongoing advisory fee on the same assets. Additionally, Clients are under no obligation to purchase insurance products through any Advisory Person or Evolve. Please see Item 10 – Other Financial Industry Activities and Affiliations. Item 6 – Performance-Based Fees and Side-By-Side Management The Advisor may be entitled to receive performance-based compensation in the form of Carried Interest through its Private Fund Services. The fact that the Advisor may receive performance-based compensation creates a conflict of interest in that it creates an incentive for the Advisor to make investments on behalf of the Funds that are riskier or more speculative than would otherwise be the case in the absence of such performance-based compensation arrangements. To mitigate the conflicts, the performance-based fees are structured so that certain performance hurdles must be met in order to receive the fee. In addition, the Offering Documents contain disclosures regarding the amount of fees and how they are calculated. Importantly, as part of the Advisor’s fiduciary duty, the Advisor must act in the best interest of the Funds. Regarding side-by-side management, the Advisor receives different types of fees, such as asset-based and performance-based fees. Managing Clients that are charged different types of fees creates conflicts of interest between the Advisor and its Clients, in addition to the ones listed above. For example, charging performance-based fees could incentivize the Advisor to allocate more favorable investments to those Clients being charged a performance-based fee. The Advisor has adopted and implemented policies and procedures intended to address conflicts of interest relating to the management of multiple types of Clients, including Clients with multiple fee arrangements, and the allocation of investment opportunities. Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 10 https://evolvepw.com/  Item 7 – Types of Clients Evolve offers investment advisory services to individuals, high net worth individuals, trusts, estates, charitable organizations, financial institutions and pooled investment vehicles. Evolve generally does not impose a minimum relationship size. Private Fund Services The Funds require that all investors meet the definition of “accredited investors”, and also require investors to be “qualified purchasers” within the meaning of Section 2(a)(51) of the Investment Company Act of 1940 Act. The Funds generally require a minimum investment in the amount of $100,000. Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss A. Methods of Analysis Evolve primarily employs fundamental analysis methods in developing investment strategies for its Clients. Research and analysis from Evolve are derived from numerous sources, including 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 economic and business indicators as investment selection criteria. This criteria consists generally of 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 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. As noted above, Evolve generally employs a long-term investment strategy for its Clients, as consistent with their financial goals. Evolve 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, Evolve 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. 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. Evolve 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 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. Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 11 https://evolvepw.com/  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. 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 has 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. 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. 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. 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. Alternative Investments (Limited Partnerships) The performance of alternative investments (limited partnerships) can be volatile and may have limited liquidity. An investor could lose all or a portion of their investment. Such investments often have concentrated positions and investments that may carry higher risks. Client should only have a portion of their assets in these investments. Non-Purpose Loans Non-Purpose Loans carry a number of risks, including but not limited to the risk of a market downturn, tax implications if collateralized securities are liquidated, and an increase in interest rates. A decline in the market value of collateralized assets held in the account[s] at the Custodian, may result in a reduction in the draw amount of the Client’s loan, a demand from the Lending Program that the Client deposit additional funds or securities in the Client’s collateral account[s], or a forced sale of securities in the Client’s collateral account[s]. Private Fund Risks Private investment funds are not registered under the Investment Company Act of 1940 and are therefore not subject to the regulatory requirements it imposes. An investment in a private fund involves risks not typically associated with Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 12 https://evolvepw.com/  traditional investment funds. These risks include limitations on transfers, valuation of the underlying investments and transparency with respect to the fund’s underlying investments. These funds are not readily marketable and have limited liquidity. 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 There are no legal, regulatory or disciplinary events involving Evolve or its management persons. Evolve 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# 333932. Item 10 – Other Financial Industry Activities and Affiliations Evolve Wealth Insurance LLC The Adviser is affiliated through common ownership and control with Evolve Wealth Insurance LLC (“Evolve Wealth Insurance”). Evolve Wealth Insurance is a licensed insurance company and offers access to various life and health insurance policies. When deemed to be in the Client’s best interest, the Advisor will recommend that Clients engage Evolve Wealth Insurance for their insurance needs. Due to the affiliation between Evolve and Evolve Wealth Insurance, owners and management persons have an incentive to recommend Evolve Wealth Insurance to Clients as they will benefit financially in their individual capacity if Clients implement commissionable insurance products through Evolve Wealth Insurance. There is no requirement for the Advisor to recommend Evolve Wealth Insurance, nor are Clients obligated to engage with Evolve Wealth Insurance in order to be/remain a Client with Evolve. Financial Institution and Consulting Services Evolve has an agreement with MSI to provide investment consulting services to Brokerage Customers, as noted in Item 4 – Advisory Services above. MSI compensates Evolve for providing consulting services to Clients who have purchased products through MSI. This consulting arrangement does not include assuming discretionary authority over Brokerage Customers’ brokerage accounts or the monitoring of securities. These consulting services offered to Brokerage Customers includes a general review of Brokerage Customers’ investment holdings, which will result in Evolve’ Advisory Persons making specific securities recommendations or offering general investment advice. This relationship presents conflicts of interest. Conflicts are mitigated by Brokerage Customers consenting to receive consulting services from the Advisor. In addition, Evolve will not accept or bill for additional compensation on asset under MSI’s management, beyond the consulting fees disclosed in Item 5 above. Advisory Persons of the Advisor will not engage or hold itself as a registered representative of MSI, as Advisory Persons are not registered to conduct commission-based activities under a broker-dealer. Item 11 – Code of Ethics, Participation or Interest in Client Transactions and Personal Trading A. Code of Ethics Evolve 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 Evolve (“Supervised Persons”). The Code was developed to provide general ethical guidelines and specific instructions regarding the Advisor’s duties to each Client. Evolve and its Supervised Persons owe a duty of loyalty, fairness and good faith towards each Client. It is the obligation of Evolve’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 (424) 500-4601. Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 13 https://evolvepw.com/  B. Personal Trading with Material Interest Evolve allows Supervised Persons to purchase or sell the same securities that may be recommended to and purchased on behalf of Clients. Evolve 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. However, Evolve does serve as an investment manager to the Funds as noted in Item 4 above. C. Personal Trading in Same Securities as Clients Evolve 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 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 Evolve 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 Evolve 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 Evolve, or any Supervised Person of Evolve, transact in any security to the detriment of any Client. Item 12 – Brokerage Practices A. Recommendation of Custodian[s] Evolve 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 Evolve to direct trades to the Custodian as agreed upon in the wealth management agreement. Further, Evolve does not have the discretionary authority to negotiate commissions on behalf of Clients on a trade-by-trade basis. Where Evolve does not exercise discretion over the selection of the Custodian, it may recommend the Custodian to Clients for custody and execution services. Clients are not obligated to use the Custodian recommended by the Advisor and will not incur any extra fee or cost associated with using a custodian not recommended by Evolve. However, the Advisor may be limited in the services it can provide if the recommended Custodian is not engaged. Evolve 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. Evolve will generally recommend that Clients establish their account[s] with Fidelity Clearing & Custody Solutions and related entities of Fidelity Investments, Inc. (collectively “Fidelity”) or Charles Schwab & Co., Inc. (“Schwab”), both FINRA-registered broker-dealer and member SIPC. Evolve has established an institutional relationship with Fidelity and Schwab to serve as the Client’s “qualified custodian” and assist the Advisor in managing Client account[s]. 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. Evolve does not participate in soft dollar programs sponsored or offered by any broker- dealer/custodian. However, the Advisor receives certain economic benefits from the Custodian. Please see Item 14 below. Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 14 https://evolvepw.com/  2. Brokerage Referrals - Evolve 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 Evolve 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]). Evolve 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. Private Fund Advisor As an investment advisor to the Funds, the Advisor does not typically engage in active trading of publicly traded securities. When, on occasion, the Advisor or the Funds transact in publicly traded securities, the Advisor will seek to facilitate such transactions through the retention of broker-dealer/custodian for custody and execution services. 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. Evolve will execute its transactions through the Custodian as authorized by the Client. Evolve 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. Private Fund Advisor To the extent that more than one investment opportunity is suitable for multiple Funds, the Advisor will seek to allocate the opportunity in a manner that is fair and equitable to each Fund in accordance with the Offering Documents. Item 13 – Review of Accounts A. Frequency of Reviews Securities in Client accounts are monitored on a regular and continuous basis by Advisory Persons of Evolve. Formal reviews are generally conducted at least annually or more frequently depending on the needs of the Client. Private Fund Advisor The investments made by the Funds are generally private, illiquid and long-term in nature. Accordingly, the review process is not directed toward a short-term decision to dispose of securities. However, the Advisor closely monitors companies in which the Funds invest, and periodically checks to confirm that the Funds are maintained in accordance with its stated objectives as outlined in the Offering Documents. 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 Evolve 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 brokerage statements no less than quarterly from the Custodian. These brokerage statements are sent directly from the Custodian to the Client. The Client may also establish electronic access to the Custodian’s Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 15 https://evolvepw.com/  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. Private Fund Advisor Investors in the Funds will receive audited financial statements no less than annually. The Advisor may also provide Investors with periodic reports regarding the respective Private Fund’s holdings, allocations, and performance. Item 14 – Client Referrals and Other Compensation A. Compensation Received by Evolve Evolve 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, Evolve may receive non-compensated referrals of new Clients from various third-parties. Participation in Institutional Advisor Platform – Fidelity As noted in item 12, Evolve has established an institutional relationship with Fidelity to assist the Advisor in managing Client account[s]. As part of the arrangement, Fidelity also makes available to the Advisor, at no additional charge to the Advisor, certain research and brokerage services, including research services obtained by Fidelity directly from independent research companies. The Advisor may also receive additional services and support from Fidelity. As a result of receiving such services for no additional cost, the Advisor has an incentive to continue to use or expand the use of Fidelity's services. The Advisor examined this potential conflict of interest when it chose to enter into the relationship with Fidelity and has determined that the relationship with Fidelity remains in the best interests of the Advisor’s Clients in connection with its fiduciary obligations, including its duty to seek best execution. Please see Item 12 above. The Advisor receives access to software, vendors, and related support without cost or at a discount because the Advisor renders wealth management services to Clients that maintain assets at Fidelity The software and related systems support benefit the Advisor and indirectly benefit the Clients. However, all services provided may not be utilized for all Clients. Further, Fidelity has provided the Advisor with financial support (further details of the financial support received will be provided upon request) in connection with the initial launch and early operations of the Advisor’s business. Fidelity provided this financial support due to the level of Client assets expected to be transitioned to the Fidelity custodial platform. The Advisor is not obligated to trade in the Client’s accounts to receive these benefits and does not receive higher compensation from effecting transactions in a Client’s account[s]. The Advisor is authorized to use the financial support received from Fidelity for certain start-up, technology and transition costs. For instance, the financial support was utilized to cover account transfer fees charged by the Client’s former custodian when transitioning to Fidelity. The financial support has also been used to obtain technology and other support services that directly benefit the Advisor and may benefit the Client indirectly. 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 these economic benefits from Fidelity creates a conflict of interest as these economic benefits may influence the Advisor's recommendation of Fidelity as a Custodian over another custodian that does not furnish similar software, systems, back-office support, financial support, and/or other economic benefits. Notwithstanding the conflicts noted herein, the Advisor firmly believes that Fidelity provides the Client and the Advisor with excellent value and support. Participation in Institutional Advisor Platform - Schwab The Advisor has established an institutional relationship with Schwab through its “Schwab Advisor Services” unit, a division of Schwab dedicated to serving independent advisory firms like the Advisor. As a registered investment advisor participating on the Schwab Advisor Services platform, the Advisor receives access to software and related support without cost because the Advisor renders investment management services to Clients that maintain assets at Schwab. Services provided by Schwab Advisor Services benefit the Advisor and many, but not all services Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 16 https://evolvepw.com/  provided by Schwab will benefit Clients. 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 conflict of interest since these benefits can influence the Advisor's recommendation of Schwab over a custodian that does not furnish similar software, systems support, or services. Services that Benefit the Client – Schwab’s institutional brokerage services include access to a broad range of investment products, execution of securities transactions, and custody of Client’s funds and securities. Through Schwab, 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 – Schwab provides participating advisors with access to technology, research, discounts and other services. In addition, the Advisor receives duplicate statements for Client accounts, the ability to deduct advisory fees, trading tools, and back office support services as part of its relationship with Schwab. 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 – Schwab also offers other services to the Advisor that may not benefit the Client, including: educational conferences and events, consulting services and discounts for various service providers. Access to these services creates a financial incentive for the Advisor to recommend Schwab, which results in a potential conflict of interest. The Advisor believes, however, that the selection of Schwab as Custodian is in the best interests of its Clients. B. Compensation for Client Referrals Certain Clients may be referred to the Advisor by either an affiliated or unaffiliated party (herein "Promoter") and receive, directly or indirectly, compensation for the Client referral. In such instances, the Advisor will compensate the Promoter a fee in accordance with Rule 206(4)-1 of the Advisers Act and any corresponding state securities requirements. Any such compensation shall be paid solely from the investment advisory fees earned by the Advisor, and shall not result in any additional charge to the Client. 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. As the investment manager to the Funds, the Advisor is deemed to have custody over Client securities. As such, an independent public accountant conducts an annual audit of the pooled investment vehicles that are managed by the Advisor and the audited financial statements are distributed to the investors in the pools within 180 days of fiscal year end. Item 16 – Investment Discretion Evolve 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 Evolve. Discretionary authority will only be authorized upon full disclosure to the Client. The granting of such authority will be Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 17 https://evolvepw.com/  evidenced by the Client's execution of a wealth management agreement containing all applicable limitations to such authority. All discretionary trades made by Evolve will be in accordance with each Client's investment objectives and goals. If a Client enters into a non-discretionary arrangement, Evolve will not have discretion over the selection and amount of securities to be bought or sold in Client accounts and will be required to obtain prior approval from the Client prior to executing trades or allocating investment assets. Item 17 – Voting Client Securities Evolve may assume the authority for proxy voting, pursuant to the terms of the Client’s agreement with the Advisor and the account set up at the Custodian. The Client shall typically maintain exclusive responsibility for all legal proceedings or other type events pertaining to the account assets, including, but not limited to, class action lawsuits. The Advisor shall vote proxies and to do so in the best interest of its Clients. Any material conflicts of interest between the Advisor’s interests and those of our Clients with regard to proxy voting must be resolved before proxies are voted. The Advisor subscribes to a nationally-recognized proxy monitor and voting agent service and will follow the recommendations offered by that service. Clients may request a copy of the Advisor’s written policies and procedures regarding proxy voting and/or information on how particular proxies were voted by contacting the Advisor’s CCO. Item 18 – Financial Information Neither Evolve, nor its management, have any adverse financial situations that would reasonably impair the ability of Evolve to meet all obligations to its Clients. Neither Evolve, nor any of its Advisory Persons, have been subject to a bankruptcy or financial compromise. Evolve 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 months or more in the future. Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 18 https://evolvepw.com/  Privacy Policy Effective: January 29, 2026 Our Commitment to You Evolve Private Wealth, LLC (“Evolve” 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. Evolve (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. Evolve 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. Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 19 https://evolvepw.com/  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 to: processing 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 transactions; general account maintenance; responding to regulators or legal investigations; and credit reporting. No Not Shared Marketing Purposes Evolve 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 Evolve 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. Yes Yes 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]. No Not Shared Information About Former Clients Evolve 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. State-specific Regulations California In response to a California law, to be conservative, we assume accounts with California addresses do not want us to disclose personal information about you to non-affiliated third parties, except as permitted by California law. We also limit the sharing of personal information about you with our affiliates to ensure compliance with California privacy laws. 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 (424) 500-4601. Evolve Private Wealth, LLC 10877 Wilshire Boulevard, Suite 1406, Los Angeles, CA 90024 Phone: (424) 500-4601 Page 20 https://evolvepw.com/