J.F. WILLIAMS CO., INC.

J. F. WILLIAMS CO., INC. FIRM BROCHURE (ADV PART 2A) MARCH 31, 2025 J. F. Williams Co., Inc. 1120 Lincoln Street, Suite 1603 Denver, CO 80203 Phone: (303) 753-4506 Fax: (303) 736-4009 Website: www.jfwco.com This brochure provides information about the qualifications and business practices of J. F. Williams Co., Inc. If you have any questions about the contents of this brochure, please contact us at (303) 753- 4506. The information in this brochure has not been approved or verified by the United States Securities and Exchange Commission. J. F. Williams Co., Inc. is a registered investment adviser. Registration of an Investment Adviser does not imply any level of skill or training. The written communications of an Adviser provide you with information about which you determine to hire or retain an Adviser. Additional information about J. F. Williams Co., Inc. is available on the SEC’s website www.adviserinfo.sec.gov. You can search this site by a unique identifying number, known as a CRD number. The CRD number for the Adviser is 113569.  ITEM 2 MATERIAL CHANGES ANNUAL UPDATE This section of our brochure will be updated annually when material changes occur. The previous release of our brochure is dated August 31, 2024. MATERIAL CHANGES SINCE THE LAST UPDATE None. FULL BROCHURE AVAILABLE If you would like to receive a complete copy of our most recent brochure, please contact us at (303) 753-4506, or visit our website (www.jfwco.com) to download a copy. J. F. Williams Co., Inc. Page 2 ADV Part 2A – 03/31/2025  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 .......................................................................................................................... 5 ITEM 6 PERFORMANCE-BASED FEES AND SIDE BY SIDE MANAGEMENT ................................................................ 6 ITEM 7 TYPES OF CLIENTS ....................................................................................................................................... 6 ITEM 8 METHODS OF ANALYSIS, INVESTMENT STRATEGIES AND RISK OF LOSS ................................................... 7 ITEM 9 DISCIPLINARY INFORMATION ...................................................................................................................... 8 ITEM 10 OTHER FINANCIAL INDUSTRY ACTIVITIES AND AFFILIATIONS ................................................................. 8 ITEM 11 CODE OF ETHICS ........................................................................................................................................ 8 ITEM 12 BROKERAGE PRACTICES ............................................................................................................................ 9 ITEM 13 REVIEW OF ACCOUNTS ............................................................................................................................ 10 ITEM 14 CLIENT REFERRALS AND OTHER COMPENSATION .................................................................................. 10 ITEM 15 CUSTODY ................................................................................................................................................. 11 ITEM 16 INVESTMENT DISCRETION ....................................................................................................................... 11 ITEM 17 VOTING CLIENT SECURITIES ................................................................................................................... 11 ITEM 18 FINANCIAL INFORMATION ....................................................................................................................... 11 ITEM 19 ERISA FIDUCIARY ACKNOWLEDGMENT ................................................................................................ 12 J. F. Williams Co., Inc. Page 3 ADV Part 2A – 03/31/2025  ITEM 4 ADVISORY BUSINESS OWNERSHIP/ADVISOR HISTORY J. F. Williams Co., Inc. was founded in 1995. James F. Williams is the founder. He is a minority stockholder owning approximately 5% of the shares. Juan J. Guevara is a Financial Planner. He is a minority stockholder owning approximately 15% of the shares. Additional information about Mr. Guevara is available in the ADV Part 2B – Supplemental Brochure. Adam S. Van Wert is a Financial Planner. He is a minority stockholder owning approximately 15% of the shares. Additional information about Mr. Van Wert is available in the ADV Part 2B – Supplemental Brochure. Holly C. Pickens is an Associate Financial Planner. Additional information about Ms. Pickens is available in the ADV Part 2B – Supplemental Brochure. Matthew A. Elliott is the CCO/CEO. He is a majority stockholder owning approximately 65% of the shares. Additional information about Mr. Elliott is available in the ADV Part 2B – Supplemental Brochure. ADVISORY SERVICES OFFERED J. F. Williams Co., Inc. provides financial planning and investment management to individuals, profit sharing plans, trusts, estates, charitable organizations, and small businesses. Advice is tailor made based on ongoing consultation with each client. Areas of advice may include determination of financial objectives, identification of financial problems, cash flow management, tax planning, insurance review, investment management, education funding, retirement planning, and estate planning. J. F. Williams Co., Inc. is a fee-only financial planning and investment management firm. The firm does not sell annuities, insurance, stocks, bonds, mutual funds, limited partnerships, or other commissioned products. The firm is not affiliated with entities that sell financial products or securities. No commissions in any form are accepted. No finder’s fees are accepted. All clients engaged for investment management services obtain a formal investment policy statement. This investment policy statement (IPS) sets forth the guidelines by which all the client’s funds will be invested. This document is generated through a formalized process which helps to assess the client’s risk tolerance and goals. The IPS document is monitored over time and updated as warranted by the client’s circumstances. Most clients opt to engage in the financial planning process. For most people, it’s hard to find time to sit down and discuss life and finances. Most individuals and couples find themselves juggling different needs and wants and have difficulty identifying their priorities. Understanding the underlying emotional motivators of financial attitudes and behaviors gives an extra edge needed to achieve life goals. As the picture becomes clearer, we perform a thorough assessment of all aspects our clients’ financial life. Understanding their perspectives, preferences, priorities, and vision for their ideal future will become the basis for our planning and analysis, which includes any or all the following service areas: •Net Worth Summary •Lifetime Cash Flow Projection •Retirement Planning •Retirement Cash Flow •Debt Management •Long Term Care Planning •Budgeting •Life & Disability Needs Analysis •Education Planning •Cash Management •Income Tax Planning •Estate Planning Review J. F. Williams Co., Inc. Page 4 ADV Part 2A – 03/31/2025  All of our clients’ accounts are held at a custodian. Charles Schwab & Co., Inc. is the custodian for most our clients’ accounts. We provide investment services for accounts, such as 401(k) plans, held at other custodians. J. F. Williams Co., Inc. has a limited power of attorney to places trades in our clients’ accounts, and in some cases, withdraw our investment management fees when authorized by the client. TAILORED SERVICES We tailor our services to a client’s needs, goals, and objectives. Clients can restrict the types of securities and/or investment classes that we use in their portfolios. All restrictions must be provided to us in writing. CLIENT ASSETS MANAGED As of 12/31/2024, J. F. Williams Co., Inc. managed approximately $251,546,094 in assets for approximately 142 clients. 100% of these assets are managed on a non-discretionary basis. That is, all trades are authorized by our clients prior to being placed. ITEM 5 FEES AND COMPENSATION J. F. Williams Co., Inc. is compensated in the following ways: Fees for establishing an investment policy statement and financial plan are billed on a flat fee basis. The standard flat fee rate for each service is as follows: 1. Investment Policy Statement: $1,000. 2. Financial Plan: $2,500. Some non-standard services may be billed on an hourly basis. Current advisor/planner rate is $200 per hour; associate planner rate is $100 per hour; administrative assistant rate is $25 per hour. Clients will be notified if they will be charged an hourly fee. Investment management fees based on a percentage of the investable assets per the following schedule: Account Balance Portion Annual Retainer Percent Cumulative Effective Rate up to $100,000 1.00% 1.00% $100,001 to 250,000 .90% .94% $250,001 to $500,000 .80% .87% $500,001 to $1,000,000 .70% .785% $1,000,001 to $2,500,000 .60% .674% $2,500,001 to $5,000,000 .50% .587% $5,000,001 to $7,500,000 .40% .525% $7,500,001 to $10,000,000 .30% .469% $10,000,001 and above .20% - J. F. Williams Co., Inc. Page 5 ADV Part 2A – 03/31/2025  BILLING FREQUENCY AND PAYMENT METHODS Fees are payable after establishing an investment policy statement or financial plan. In some cases, these fees are payable on a quarterly basis. These fees are payable by check. Investment management fees are paid quarterly, in arrears, i.e., at the end of each calendar quarter. Clients may choose to pay this fee by check or have it withdrawn from their account(s). Generally, our fees are not negotiable, but we retain the right to modify our fee schedule for specific clients under certain circumstances. OTHER FEES CLIENTS PAY The primary vehicles we recommend to our clients are “no-load” mutual funds and Exchange-Traded Funds (ETFs). Mutual funds and ETFs generally charge a management fee for their services as investment managers. The management fee is called an expense ratio. For example, an expense ratio of 0.50 means that the mutual fund company charges 0.5% of the asset value per year for their services. Performance figures quoted by fund companies in various publications are after their fees have been deducted. The Securities and Exchange Commission (SEC) may impose a fee on certain securities transactions. The fee amount can be adjusted, and the amount of the fee effective 2/27/2023 is $8.00 per $1,000,000 traded. FINRA (Financial Industry Regulatory Authority) may impose a fee on certain securities transactions. The fee amount can be adjusted, and the amount of the fee effective 1/1/2024 is $0.000166 per share traded. Our experience is these fees are assessed on the sale of ETFs and individual stocks, but there could be other transactions on which these fees are assessed. Charles Schwab & Co., Inc. charges a transaction fee each time we trade the mutual funds in our clients’ accounts. Virtually all of the mutual funds we use are subject to these transaction fees. The transaction fee schedule from Charles Schwab & Co., Inc. is below: Fund Type Transaction Amount Fee Percentage Minimum Fee Maximum Fee Funds qualifying for Reduced Transaction Fee All other Funds All other Funds Any Amount $0 - $15,000 >$15,000 0.24% .24% 0.12% $20.00 $20.00 $36.00 $24.00 $36.00 $45.00 AVAILABILITY OF INVESTMENT PRODUCTS Depending on each specific fund, the mutual funds, and Exchange-Traded Funds we recommend may be available through other advisors, other brokers, or in some cases, directly through the mutual fund and Exchange-Traded Fund companies themselves. ITEM 6 PERFORMANCE-BASED FEES AND SIDE BY SIDE MANAGEMENT J. F. Williams Co., Inc. does not charge performance-based fees. ITEM 7 TYPES OF CLIENTS J. F. Williams Co., Inc. provides investment advice to individuals, profit sharing plans, trusts, estates, charitable organizations, and business entities. While some clients may seek a one-time financial plan, we understand life is a series of transitions, both expected and unexpected. Therefore, we are dedicated to fostering lifelong relationships in the role as a thinking partner for our clients through each phase of their financial journey. J. F. Williams Co., Inc. Page 6 ADV Part 2A – 03/31/2025  We do not prepare one-time financial plans, rather we only commence client relationships on an ongoing basis by engaging in investment management services with every client. We do not require an account minimum to maintain our advisory services. ITEM 8 METHODS OF ANALYSIS, INVESTMENT STRATEGIES AND RISK OF LOSS METHODS OF ANALYSIS On a quarterly basis, J. F. Williams Co., Inc. reviews the performance objectives for each mutual fund held in our clients’ accounts. Fund performance is evaluated in terms of an appropriate market index (e.g., S&P 500/Citigroup Large Value index for a domestic large cap value equity fund) and the relevant peer group (e.g., the large cap value mutual fund universe for a large cap value mutual fund). INVESTMENT STRATEGIES Financial markets work and they have historically rewarded investors for the capital they supply. Companies compete for this investment capital driving prices to fair value. Our strategy is to develop and implement a disciplined strategy that harvests the returns from these companies in a cost-effective manner. We believe there is no room for guess work when it comes to managing investments, and strategies based on speculation drive down investor returns. We believe the most important decision our clients make is selecting the amount of their portfolio to allocate into bonds versus stocks. Empirical studies show that the mix of assets in a broadly diversified portfolio is the most important determinant of total return and risk. The decision to allocate a portion of a portfolio into stocks comes with risk, but this risk comes with a reasonable expectation of higher return. Stock returns come from risk, but not all risks carry a reasonably reliable reward. Risks worth bearing can be summarized in four dimensions: 1) Stocks are riskier than bonds and have higher expected returns. 2) Among stocks, small companies are riskier than large companies; therefore, they carry higher expected returns; 3) lower priced “value” companies are riskier than higher priced “growth” companies; therefore, they carry higher expected returns; and 4) companies with higher current profits versus less profitable companies carry higher expected returns. Bonds serve to mitigate the stock risk in the portfolio. Performance and risk in bonds are largely driven by two dimensions: 1) Bonds that mature farther into the future are subject to the risk of unexpected changes in interest rates. 2) Bonds with lower credit quality are subject to risk of default. By shortening up bond maturities and holding bonds with investment grade credit quality or better, we can better stabilize the volatility in the overall portfolio. With this understanding, we establish a unique investment policy that aligns with the unique risk/return profile of each client. The investment policy is implemented using a strategic allocation of mutual funds and Exchange-Traded Funds that represent broadly diversified and consistent exposure to asset classes worldwide. RISK OF LOSS All investment programs have certain risks that are borne by the investor. Some types of risk can be greatly mitigated by investing the portfolio in a diversified portfolio. Examples of risk that can be mitigated include concentrating a portfolio into specific securities, sectors, industries, or countries. We refer to this type of risk as non-systematic risk. On the contrary, risks that cannot be mitigated are the risks associated with investing in a diversified portfolio. Our strategy is to engage these risks intentionally with the expectation that the investor will be rewarded with a long-term rate of return that compensates the investor for bearing these risks. We refer to this type of risk as systematic risk. J. F. Williams Co., Inc. Page 7 ADV Part 2A – 03/31/2025  We believe that reducing trading activity reduces transaction fees. Trading frequency is generally associated with the following activity:  Annual portfolio rebalancing.  Tax-loss harvesting.  Anytime funds are either being added to or withdrawn from the portfolio; or  When a mutual fund or Exchange-Traded Fund is being swapped for another mutual fund or Exchange-Traded Fund due to unacceptable performance. ITEM 9 DISCIPLINARY INFORMATION Registered investment advisors are required to disclose all material facts regarding any legal or disciplinary events within the past 10-year period that would be material to your evaluation of the Firm or the integrity of its management. J. F. Williams Co., Inc. has no information applicable to this Item because it has never been the subject of any administrative, civil, criminal, or self-regulatory proceedings. Anyone can check the background of financial professionals using one or more of the following resources: IAPD Report – https://adviserinfo.sec.gov/  BrokerCheck Report - https://brokercheck.finra.org/   CFP Board’s Verify-A-CFP® Professional Search Tool – https://www.letsmakeaplan.org/  Public Access to Court Electronic Records (PACER) / Electronic Case Filing (ECF) Database – https://www.pacer.gov/ ITEM 10 OTHER FINANCIAL INDUSTRY ACTIVITIES AND AFFILIATIONS J. F. Williams Co., Inc. does not have any other financial industry activities or affiliations. Prior to his employment at J.F. Williams Co., Inc., Mr. Guevara acquired a Series 6, Series 7, and Series 63. However, he no longer engages in any business activity related to any of these licenses, and these licenses have been allowed to lapse. ITEM 11 CODE OF ETHICS DESCRIPTION Matthew A. Elliott, Juan J. Guevara, Adam S. Van Wert, and Holly C. Pickens are CFP® Practitioners and they have committed to the code of ethics as outlined by Certified Financial Planner Board of Standards, Inc. Our firm has adopted a Code of Ethics which sets forth high ethical standards of business conduct that we require of our employees, including compliance with applicable federal securities laws. All employees of J. F. Williams Co., Inc. sign an attestation to this Code of Ethics, and it is available for review by clients and prospective clients upon request. The firm and our personnel owe a fiduciary duty to our clients and have an obligation to adhere not only to the specific provisions of the Code of Ethics but to the principles that form the fiduciary standard. MATERIAL INTEREST IN SECURITIES J. F. Williams Co., Inc. does not have a material interest in any security. This section is not applicable. J. F. Williams Co., Inc. Page 8 ADV Part 2A – 03/31/2025  PARTICIPATION OR INTEREST IN CLIENT TRANSACTIONS J. F. Williams Co., Inc. and its employees may buy or sell securities that are recommended to, or held by, clients, and this represents a conflict of interest. However, these transactions are insignificant to the market as a whole. Since we buy and sell exclusively mutual funds and Exchange-Traded Funds there is virtually no likelihood that this conflict would influence the actions or decisions of J. F. Williams Co., Inc., or its employees. Moreover, J. F. Williams Co., Inc. has a duty to put its clients' interest first. We have implemented safeguards for monitoring our employee’s personal securities holdings to ensure we are meeting our duties to clients. PERSONAL TRADING The Chief Compliance Officer of J. F. Williams Co., Inc. is Matthew A. Elliott. He reviews all employee trades each quarter. Since the firm invests client almost entirely in widely traded mutual funds and Exchange-Traded-Funds, the risk that employee transactions would sway the value of these funds is virtually nil. Our staff members are permitted to buy or sell securities for their personal accounts that are the same as those recommended to clients. They are permitted to have an interest or position in traded securities that may also be recommended to one or more of our clients. ITEM 12 BROKERAGE PRACTICES RECOMMENDATION CRITERIA & BEST EXECUTION In order to provide clients the full benefit of the investment management services we provide, we require that clients establish brokerage accounts with the Schwab Advisor Services division of Charles Schwab & Co., Inc. (Schwab), a FINRA registered broker-dealer, member SIPC, to maintain custody of clients' assets and to effect trades for their accounts. We have selected Schwab based on their very competitive transaction fee costs to clients, their capabilities, dependability, and reputation. Although we may require that clients establish accounts at Schwab, it is the client's decision to utilize our services and to custody assets with Schwab, we are independently owned and operated and not affiliated with Schwab. We provide investment management services for accounts held at other custodians. This typically occurs when we are providing investment management services for our clients’ qualified plans, such as a 401(k) or 403(b). Our clients establish brokerage accounts with Schwab. All trading and other transactions are executed within the established client accounts under a limited power of attorney (LPOA). Our policy is to clear each transaction with the client prior to placing the trade order. This method of operation does not present a meaningful opportunity for J. F. Williams Co., Inc. to select brokers for individual transactions. In cases when J. F. Williams Co., Inc. recommends open- ended mutual fund investments for clients, which are priced at the end of each business day there is little or no opportunity to improve execution. We frequently recommend Exchange-Traded-Funds for our clients. There may be occurrences in which we have recommended selling or buying the same Exchange-Traded-Fund(s) within our employee’s account(s) and our client’s account(s) during the same time interval. When this occurrence arises, our policy is to aggregate employee orders with the orders of our other client’s account(s). We see no ethical dilemma with this system, since the aggregation of orders means all accounts receive the average price of all shares purchased or sold in a given security. RESEARCH AND SOFT DOLLARS J. F. Williams Co., Inc. Page 9 ADV Part 2A – 03/31/2025  We participate in Schwab's Schwab Institutional services program. While there is no direct link between the investment advice we give and our participation in this program, we do receive economic benefits that we would not otherwise receive if we did not utilize their platform to manage our clients’ accounts. These benefits include: (i) receipt of duplicate client trade confirmations and bundled duplicate statements; (ii) access to a trading desk; (iii) limited cost mitigation on trade errors (the firm covers trading errors up to a certain amount); (iv) deducting investment advisory fees directly from clients’ accounts (with prior authorization); (v) access to an electronic communication network for client order entry and account information; (vi) receipt of compliance publications; and (vii) access to mutual funds that generally require significantly higher minimum initial investments or are generally available only to institutional investors. The benefits we receive through participation in this program are not dependent on the amount of transactions directed to Schwab. Further, the benefits we receive through this relationship are used generally for the benefit of all our clients. Given that the value of limited trade error mitigation is immaterial and given that all of the other benefits accrue to our clients, we do not regard these benefits as soft dollar arrangements. BROKERAGE FOR CLIENT REFERRALS We do not receive client referrals in exchange for brokerage services from Schwab. DIRECTED BROKERAGE We do not allow clients to direct us to a specific broker-dealer to execute securities transactions for their accounts. All clients’ transactions are executed at Schwab. TRADE AGGREGATION J. F. Williams Co., Inc. may aggregate trades when trading vehicles which trade intraday. One example of such a vehicle would be an Exchange-Traded Fund (ETF). In order to maintain the equitable treatment of clients within the trade, an average price will be allocated to all trades aggregated in the same block. Our process strives to place trades once per day, but situations may arise in which multiple blocks of the same ETF or stock are traded on the same day. This would mean different clients could receive different prices on the same ETF or stock during the same trading day. ITEM 13 REVIEW OF ACCOUNTS REVIEWS J. F. Williams Co., Inc., with the cooperation of each client, conducts an annual review to formally review their portfolio, and written financial plan (if applicable). We may also intermittently review a client’s account when there is a changing circumstance or decision that affects our client’s life (e.g., marriage, divorce, major purchase, inheritance, business purchase or succession, change of employment, birth of child, etc.). REPORTS J. F. Williams Co., Inc. provides each client with a quarterly performance report. ITEM 14 CLIENT REFERRALS AND OTHER COMPENSATION J. F. Williams Co., Inc. has been fortunate to receive many client referrals over the years. The referrals came from current clients, estate planning attorneys, accountants, employees, personal friends of employees and other similar sources. The firm does not compensate referring parties for these referrals and we are neither obligated to, nor do we necessarily, reciprocate by making referrals to such referral sources. J. F. Williams Co., Inc. Page 10 ADV Part 2A – 03/31/2025  ITEM 15 CUSTODY In cases where our clients have authorized us to withdraw our advisory fees from their accounts, we do so on a quarterly basis which constitutes constructive custody. As such, we follow the procedures below:  The client has provided written authorization for us to withdraw the fee.  The fee calculation is described in the client’s quarterly invoice each time we withdraw the fee.  Clients can reconcile the amount of the fee withdrawn by comparing our invoice to the statements received from Charles Schwab & Co., Inc. See Fees & Compensation above for details on our fees. Also, clients are urged to compare the account statements received directly from Charles Schwab & Co., Inc. to the performance report statements provided quarterly by the J. F. Williams Co., Inc. ITEM 16 INVESTMENT DISCRETION J. F. Williams Co., Inc. does not accept discretionary authority to manage assets on behalf of our clients. See Advisory Business above for details. ITEM 17 VOTING CLIENT SECURITIES We do not vote proxies on behalf of our clients. Proxy solicitation materials will be forwarded to clients for response and voting. In the event a client has a question or would like a recommendation about a proxy solicitation, the client may contact his/her investment advisor representative. ITEM 18 FINANCIAL INFORMATION We do not have any financial impairment that will preclude us from meeting contractual commitments to clients. A balance sheet is not required to be provided because we do not serve as a custodian for client funds or securities, and do not require prepayment of fees of more than $1,200 per client, and six months or more in advance. OTHER BUSINESS ACTIVITY We and our executive officers do not have any other business activity. Prior to his employment at J.F. Williams Co., Inc., Mr. Guevara acquired a Series 6, Series 7, and Series 63. However, he no longer engages in any business activity related to any of these licenses, and these licenses have been allowed to lapse. PERFORMANCE BASED COMPENSATION We and our executive officers do not receive performance-based compensation. DISCIPLINARY HISTORY Registered investment advisers are required to disclose all material facts regarding any legal or disciplinary events that would be material to a client’s evaluation of each supervised person providing investment advice. No information is applicable to this Item. ADDITIONAL RELATIONSHIPS WITH ISSUERS OF SECURITIES We do not have a relationship with an issuer of securities. J. F. Williams Co., Inc. Page 11 ADV Part 2A – 03/31/2025  ITEM 19 ERISA FIDUCIARY ACKNOWLEDGMENT 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. J. F. Williams Co., Inc. Page 12 ADV Part 2A – 03/31/2025  MATTHEW A. ELLIOTT, CFP® March 31, 2025 ADV Part 2B – Supplemental Brochure J.F. Williams Co., Inc. 1120 Lincoln Street, Suite 1603 Denver, CO 80203 Phone: (303) 753-4506 Fax: (303) 736-4009 Website: www.jfwco.com This Brochure Supplement provides information about Matthew A. Elliott that supplements the J.F. Williams Co., Inc.’s Brochure. You should have received a copy of that Brochure. Please contact Mr. Elliott at (303) 753-4506 or info@jfwco.com if you did not receive a J.F. Williams Co., Inc.’s Brochure or if you have any questions about the contents of this supplement. Additional information about Matthew A. Elliott is available on the SEC’s website at www.adviserinfo.sec.gov.  ITEM 2 – EDUCATIONAL BACKGROUND AND BUSINESS EXPERIENCE Matthew A. Elliott, CFP® - CEO/CCO Born: 1972 Education: Humboldt State University – BSBA Finance (1997) Kaplan University – Financial Planning Certificate (2005) Golden Gate University – Master of Science in Financial Planning and Taxation (2015) CFP® Practitioner (2008) - CFP® practitioners are licensed by the CFP Board to use the CFP® marks. CFP® licensing requirements:  Bachelor’s degree from an accredited college or university.  Completion of the financial planning education requirements set by the CFP Board (www.cfp.net).  Pass the 10-hour CFP® Certification Examination.  Three-year qualifying full-time work experience.  Successfully pass the Fitness Standards for Candidates and Registrants.  The licensee must fulfill ongoing Continuing Education requirements which include 30 hours of credit, at least 2 hours of which must be ethics credit, each two years. Business Background: J.F. Williams Co., Inc. – April 2008 to Present - CEO - Investment Adviser Representative The Moore Financial Group LLC – February 2005 to April 2008 - Investment Adviser Representative Sun Microsystems, Inc. – June 1997 to January 2005 - Program Manager ITEM 3 – DISCIPLINARY HISTORY Registered investment advisers are required to disclose all material facts regarding any legal or disciplinary events that would be material to your evaluation of each supervised person providing investment advice. No information is applicable to this Item. Anyone can check the background of financial professionals using one or more of the following resources: IAPD Report – https://adviserinfo.sec.gov/  BrokerCheck Report - https://brokercheck.finra.org/   CFP Board’s Verify-A-CFP® Professional Search Tool – https://www.letsmakeaplan.org/ Matthew A. Elliott Page 2 ADV Part 2B – 03/31/2025   Public Access to Court Electronic Records (PACER) / Electronic Case Filing (ECF) Database – https://www.pacer.gov/ ITEM 4 – OTHER BUSINESS ACTIVITIES A. Investment Related Other Business Activities: Mr. Elliott has no other investment related other business activities. B. Non-Investment Related Other Business Activities: Mr. Elliott has no other non-investment related business activities. ITEM 5 – ADDITIONAL COMPENSATION Mr. Elliott does not receive any compensation outside of regular salary, bonuses, dividends, and shares of company stock. ITEM 6 – SUPERVISION Supervisor Name: Matthew A. Elliott, CEO/CCO Supervisor Phone Number: (303) 753-4506 Matthew A. Elliott provides supervision for all business activities including the following:  Books & records  Document retention and destruction  Trade authorization and execution  Email correspondence  Development of investment policy statements and financial plans  Personal securities transactions and holdings  Compliance with code of ethics & client privacy agreement  Ongoing tests of compliance systems  Ongoing compliance with firm regulatory processes and policies  Administrative duties  Development of disaster recovery and contingency plan Matthew A. Elliott Page 3 ADV Part 2B – 03/31/2025  JUAN J. GUEVARA, CFP® June 30, 2025 ADV Part 2B – Supplemental Brochure J. F. Williams Co., Inc. 1120 Lincoln Street, Suite 1603 Denver, CO 80203 Phone: (303) 753-4506 Fax: (303) 736-4009 Website: www.jfwco.com This Brochure Supplement provides information about Juan J. Guevara that supplements the J. F. Williams Co., Inc.’s Brochure. You should have received a copy of that Brochure. Please contact Mr. Guevara at (303) 753-4506 or info@jfwco.com if you did not receive a J. F. Williams Co., Inc.’s Brochure or if you have any questions about the contents of this supplement. Additional information about Juan J. Guevara is available on the SEC’s website at www.adviserinfo.sec.gov.  ITEM 2 – EDUCATIONAL BACKGROUND AND BUSINESS EXPERIENCE Juan J. Guevara Born: 1984 Education: Kansas State University – M.S. Personal Financial Planning (2025) California State University - Northridge – BSBA Finance (2007) CFP® Practitioner (2016) - CFP® practitioners are licensed by the CFP Board to use the CFP® marks. CFP® licensing requirements:  Bachelor’s degree from an accredited college or university.  Completion of the financial planning education requirements set by the CFP Board (www.cfp.net).  Pass the 6-hour CFP® Certification Examination.  Three-year qualifying full-time work experience.  Successfully pass the Fitness Standards for Candidates and Registrants.  The licensee must fulfill ongoing Continuing Education requirements which include 30 hours of credit, at least 2 hours of which must be ethics credit, each two years. Business Background: J. F. Williams Co., Inc. – January 2016 – Present – Financial Planner – Investment Adviser Representative SchoolsFirst Federal Credit Union. – April 2014 to December 2015 – Investment Adviser Representative J.P. Morgan Securities LLC – June 2011 to April 2014 – Investment Adviser Representative JPMorgan Chase Bank – March 2010 to May 2011 – Licensed Personal Banker Enterprise Rent-a-Car – August 2007 to April 2008 – Staff Accountant – Management Trainee ITEM 3 – DISCIPLINARY HISTORY Registered investment advisers are required to disclose all material facts regarding any legal or disciplinary events that would be material to your evaluation of each supervised person providing investment advice. No information is applicable to this Item. Juan J. Guevara Page 2 ADV Part 2B – 06/30/2025  Anyone can check the background of financial professionals using one or more of the following resources: IAPD Report – https://adviserinfo.sec.gov/  BrokerCheck Report - https://brokercheck.finra.org/   CFP Board’s Verify-A-CFP® Professional Search Tool – https://www.letsmakeaplan.org/  Public Access to Court Electronic Records (PACER) / Electronic Case Filing (ECF) Database – https://www.pacer.gov/ ITEM 4 – OTHER BUSINESS ACTIVITIES A. Investment Related Other Business Activities: Mr. Guevara has no other investment related business activities. Prior to his employment at J.F. Williams Co., Inc., Mr. Guevara acquired a Series 6, Series 7, and Series 63. However, he no longer engages in any business activity related to any of these licenses, and these licenses will be allowed to lapse. B. Non-Investment Related Other Business Activities: Mr. Guevara has no other non-investment related business activities. ITEM 5 – ADDITIONAL COMPENSATION Mr. Guevara does not receive any compensation outside of regular salary and bonuses. ITEM 6 – SUPERVISION Supervisor Name: Matthew A. Elliott, CEO/CCO Supervisor Phone Number: (303) 753-4506 Matthew A. Elliott provides supervision for all business activities including the following:  Books & records  Document retention and destruction  Trade authorization and execution  Email correspondence  Development of investment policy statements and financial plans  Personal securities transactions and holdings  Compliance with code of ethics & client privacy agreement  Ongoing tests of compliance systems  Ongoing compliance with firm regulatory processes and policies  Administrative duties  Development of disaster recovery and contingency plan Juan J. Guevara Page 3 ADV Part 2B – 06/30/2025  ADAM S. VAN WERT, CFP® March 31, 2025 ADV Part 2B – Supplemental Brochure J. F. Williams Co., Inc. 1120 Lincoln Street, Suite 1603 Denver, CO 80203 Phone: (303) 753-4506 Fax: (303) 736-4009 Website: www.jfwco.com This Brochure Supplement provides information about Adam S. Van Wert that supplements the J. F. Williams Co., Inc.’s Brochure. You should have received a copy of that Brochure. Please contact Mr. Van Wert at (303) 753-4506 or info@jfwco.com if you did not receive a J. F. Williams Co., Inc.’s Brochure or if you have any questions about the contents of this supplement. Additional information about Adam S. Van Wert is available on the SEC’s website at www.adviserinfo.sec.gov.  ITEM 2 – EDUCATIONAL BACKGROUND AND BUSINESS EXPERIENCE Adam Van Wert, CFP® Born: 1995 Education: Colorado State University – BSBA Financial Planning, minors in Economics and Music (2017) CFP® Practitioner (2021) - CFP® practitioners are licensed by the CFP Board to use the CFP® marks. CFP® licensing requirements:  Bachelor’s degree from an accredited college or university.  Completion of the financial planning education requirements set by the CFP Board (www.cfp.net).  Pass the 6-hour CFP® Certification Examination.  Two-year qualifying full-time work experience fulfilling the Apprenticeship Pathway.  Successfully pass the Fitness Standards for Candidates and Registrants.  The licensee must fulfill ongoing Continuing Education requirements which include 30 hours of credit, at least 2 hours of which must be ethics credit, each two years. Business Background: J. F. Williams Co., Inc. – March 2019 – Present – Financial Planner – Investment Adviser Representative IWP Wealth Management LLC – March 2018 – March 2019 – Investment Adviser Representative ITEM 3 – DISCIPLINARY HISTORY Registered investment advisers are required to disclose all material facts regarding any legal or disciplinary events that would be material to your evaluation of each supervised person providing investment advice. No information is applicable to this Item. Anyone can check the background of financial professionals using one or more of the following resources: IAPD Report – https://adviserinfo.sec.gov/  BrokerCheck Report - https://brokercheck.finra.org/   CFP Board’s Verify-A-CFP® Professional Search Tool – https://www.letsmakeaplan.org/  Public Access to Court Electronic Records (PACER) / Electronic Case Filing (ECF) Database – https://www.pacer.gov/ Adam S. Van Wert Page 2 ADV Part 2B – 03/31/2025  ITEM 4 – OTHER BUSINESS ACTIVITIES A. Investment Related Other Business Activities: Mr. Van Wert has no other investment related business activities. B. Non-Investment Related Other Business Activities: Mr. Van Wert has no other non- investment related business activities. ITEM 5 – ADDITIONAL COMPENSATION Mr. Van Wert does not receive any compensation outside of regular salary and bonuses. ITEM 6 – SUPERVISION Supervisor Name: Matthew A. Elliott, CEO/CCO Supervisor Phone Number: (303) 753-4506 Matthew A. Elliott provides supervision for all business activities including the following:  Books & records  Document retention and destruction  Trade authorization and execution  Email correspondence  Development of investment policy statements and financial plans  Personal securities transactions and holdings  Compliance with code of ethics & client privacy agreement  Ongoing tests of compliance systems  Ongoing compliance with firm regulatory processes and policies  Administrative duties  Development of disaster recovery and contingency plan Adam S. Van Wert Page 3 ADV Part 2B – 03/31/2025  HOLLY C. PICKENS, CFP® March 31, 2025 ADV Part 2B – Supplemental Brochure J. F. Williams Co., Inc. 1120 Lincoln Street, Suite 1603 Denver, CO 80203 Phone: (303) 753-4506 Fax: (303) 736-4009 Website: www.jfwco.com This Brochure Supplement provides information about Holly C. Pickens that supplements the J. F. Williams Co., Inc.’s Brochure. You should have received a copy of that Brochure. Please contact Ms. Pickens at (303) 753-4506 or info@jfwco.com if you did not receive a J. F. Williams Co., Inc.’s Brochure or if you have any questions about the contents of this supplement. Additional information about Holly C. Pickens is available on the SEC’s website at www.adviserinfo.sec.gov.  ITEM 2 – EDUCATIONAL BACKGROUND AND BUSINESS EXPERIENCE Holly C. Pickens, CFP® Born: 1999 Education: Colorado State University – BSBA Financial Planning (2022) CFP® Practitioner (2024) - CFP® practitioners are licensed by the CFP Board to use the CFP® marks. CFP® licensing requirements:  Bachelor’s degree from an accredited college or university.  Completion of the financial planning education requirements set by the CFP Board (www.cfp.net).  Pass the 6-hour CFP® Certification Examination.  Three-year qualifying full-time work experience.  Successfully pass the Fitness Standards for Candidates and Registrants.  The licensee must fulfill ongoing Continuing Education requirements which include 30 hours of credit, at least 2 hours of which must be ethics credit, each two years. Business Background: J. F. Williams Co., Inc. – September 2023 – Present – Associate Financial Planner – Investment Adviser Representative Essential Investment Partners – July 2022 – August 2023 – Client Service Associate ITEM 3 – DISCIPLINARY HISTORY Registered investment advisers are required to disclose all material facts regarding any legal or disciplinary events that would be material to your evaluation of each supervised person providing investment advice. No information is applicable to this Item. Anyone can check the background of financial professionals using one or more of the following resources: IAPD Report – https://adviserinfo.sec.gov/  BrokerCheck Report - https://brokercheck.finra.org/   CFP Board’s Verify-A-CFP® Professional Search Tool – https://www.letsmakeaplan.org/  Public Access to Court Electronic Records (PACER) / Electronic Case Filing (ECF) Database – https://www.pacer.gov/ Holly C. Pickens Page 2 ADV Part 2B – 03/31/2025  ITEM 4 – OTHER BUSINESS ACTIVITIES A. Investment Related Other Business Activities: Ms. Pickens has no other investment related business activities. B. Non-Investment Related Other Business Activities: Ms. Pickens has no other non-investment related business activities. ITEM 5 – ADDITIONAL COMPENSATION Ms. Pickens does not receive any compensation outside of regular salary and bonuses. ITEM 6 – SUPERVISION Supervisor Name: Matthew A. Elliott, CEO/CCO Supervisor Phone Number: (303) 753-4506 Matthew A. Elliott provides supervision for all business activities including the following:  Books & records  Document retention and destruction  Trade authorization and execution  Email correspondence  Development of investment policy statements and financial plans  Personal securities transactions and holdings  Compliance with code of ethics & client privacy agreement  Ongoing tests of compliance systems  Ongoing compliance with firm regulatory processes and policies  Administrative duties  Development of disaster recovery and contingency plan Holly C. Pickens Page 3 ADV Part 2B – 03/31/2025