Live Oak Family Offices LLC

Live Oak Family Offices LLC 5001 Bridge Street Suite 2427 Tampa, FL 33611 www.lofollc.com Kevin P. McCutcheon (614) 266-8192 kevin@lofollc.com INVESTMENT MANAGEMENT SERVICES August 2026 This brochure provides information about the qualifications and business practices of Live Oak Family Offices LLC ("Live Oak"). If you have any questions about the contents of this brochure, please contact Kevin P. McCutcheon at (614) 266-8192 and/or kevin@lofollc.com. The information in this brochure has not been approved or verified by the United States Securities and Exchange Commission (“SEC”) or by any state securities authority. Additional information about Live Oak is available on the SEC's website at www.adviserinfo.sec.gov. 1  Material Changes This is our Form ADV Part 2 (“Disclosure Brochure”). This section of the Disclosure Brochure will address only those “material changes” that have been incorporated since our last delivery or posting of this document on the SEC’s public disclosure website (IAPD) at www.adviserinfo.sec.gov. We may, at any time, update this Disclosure Brochure and send you an updated copy including a summary of material changes, or a summary of material changes that includes an offer to send you a copy (either by electronic means (email) or in hard copy form). If you would like another copy of this Disclosure Brochure, please download it from the SEC website as indicated above or refer to the contact information indicated on the cover page of this Disclosure Brochure. 2  Table of Contents Page 1 2 3 3 4 5 5 5 5 6 6 6 7 8 8 8 8 8 9 Item 1 Cover Page Item 2 Material Changes Item 3 Table of Contents Item 4 Advisory Business Item 5 Fees and Compensation Item 6 Performance-Based Fees and Side-by-Side Management Item 7 Types of Clients Item 8 Methods of Analysis, Investment Strategies and Risk of Loss Item 9 Disciplinary Information Item 10 Other Financial Industry Activities and Affiliations Item 11 Code of Ethics, Participation or Interest in Client Transactions and Personal Trading Item 12 Brokerage Practices Item 13 Review of Accounts Item 14 Client Referrals and Other Compensation Item 15 Custody Item 16 Investment Discretion Item 17 Voting Client Securities Item 18 Financial Information Privacy Notice Advisory Business A. On December 31, 2024, Kevin P. McCutcheon is the sole owner of the firm. B. Live Oak provides discretionary investment management services utilizing a balanced asset allocation comprised of equities, fixed income, alternative investments (e.g., commodities funds, real estate funds), and cash reserves. Live Oak typically invests in mutual funds and exchange traded funds. C. Our objective is to provide a comprehensive wealth management solution for each client by integrating planning, investment management, and monitoring/analysis resources with Live Oak’s competencies. To meet client needs, we focus on the following: ➢ Strategic investment policy ➢ Tactical asset allocation ➢ Access to private alternative investment opportunities, when appropriate ➢ Investment monitoring and performance evaluation D. IRA Rollover Recommendations For the purpose of complying with the DOL's Prohibited Transaction Exemption 2020-02 ("PTE 2020-02"), when applicable, we are providing the following acknowledgment to clients. When we provide investment advice to clients regarding their retirement plan account or individual retirement account, we are a fiduciary 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 client interests. We operate under an exemption that requires we act in the clients’ best interest and not put our or our employees’ interests ahead of the clients. Under this exemption, we must: • meet a professional standard of care when making investment recommendations (give prudent advice), • never put our or our employees’ financial interests ahead of the clients when making recommendations (give loyal advice), avoid making misleading statements about conflict of interests, fees, and investments, • 3  • • • follow policies and procedures designed to ensure that our and our employees give advice that is in the clients’ best interest, charge no more than is reasonable for services, and give the clients basic information about conflict of interests. We benefit financially from the rollover of the clients’ assets from a retirement account to an account that we manage or provide investment advice, because the assets increase our assets under management and, in turn, our advisory fees. As a fiduciary, we only recommend a rollover when our and our employees believe it is in the clients’ best interest. E. Live Oak does not participate in any wrap fee programs. F. As of August 6, 2026, assets managed in-house for investment management clients and family total approximately $0. From time to time, Live Oak also recommends direct private placement investments to clients. At this writing, investment management clients and family have invested approximately $0 in various private placement investments. Live Oak also offers family office services for non-investment management clients. At this writing, Live Oak has approximately $0 assets under management for family office clients. Fees and Compensation A. Asset-based fee calculated as a percentage of the market value of assets under advisement: 1.00% 0.75% 0.50% first $2,000,000 next $3,000,000 above $5,000,000 Minimum annual fee: $7,500 Live Oak may negotiate fees or its minimum annual fee, higher or lower, as specific client needs may dictate. B. Fees are billed quarterly in advance. Live Oak maintains an institutional brokerage relationship with Charles Schwab & Co. (“Schwab”) and/or Interactive Brokers LLC (“IB”) (collectively referred to as the “custodians”) and suggests that its clients domicile their assets at these custodians under that master relationship. Fees are generally deducted from one or more of the client’s accounts. However, if a client prefers, Live Oak will bill the client, and they may remit payment directly. C. In addition to Live Oak’s fees, clients pay brokerage commissions at published rates and mutual/exchange traded fund expenses as outlined in each fund’s prospectus. Refer to “Brokerage Practices” for further discussion regarding Live Oak’s relationship with Schwab and brokerage charges. D. Fees are billed quarterly in advance. Term of engagement is one year, automatically renewable annually unless either party sends written notice of its desire to terminate at least thirty days before the end of the current engagement period. Unearned fees, if any, are refunded. E. Live Oak does not receive compensation for the sale of securities or other investment products to its clients. 4  Performance-Based Fees and Side-by-Side Management Live Oak offers investment advisory services to clients who are family office clients under a fee structure calculated as a combination of annual retainer and a percentage of the market value of assets under management. Since neither the investment management nor family office fee structure is performance-based, we do not believe this creates a conflict of interest between Live Oak and our clients. Types of Clients Live Oak’s investment management services are designed for individuals and families with liquid investable assets of at least $750,000. Account types are typically individual or joint taxable accounts and IRAs. At present, Live Oak does not manage any employee benefit plans for businesses although it would consider doing so if asked. Live Oak does not have minimum asset requirements; however, it does impose minimum annual fee requirements as outlined in Item A. under “Fees and Compensation”. Methods of Analysis, Investment Strategies and Risk of Loss A. Investing involves risk of loss of principal that an investor must be willing to bear. Live Oak’s investment philosophy centers on the belief that the majority of investment return is attributable to the asset allocation decision. We seek to devise an asset allocation objective intended to produce either the highest return at that level of risk (interim return volatility) acceptable to the client, or the lowest risk for the client's return objective. Live Oak’s portfolios include equity, fixed income and, where appropriate alternative investment vehicles such as commodities funds and real estate funds, and cash reserves. Ongoing systematic rebalancing to objectives is another primary tenet of our investment philosophy. Disciplined rebalancing to asset allocation objectives can smooth interim returns and more importantly reduce total risk. As a general rule, rebalancing takes place whenever 1) the market value of any asset class is 20% greater or less than its allocation objective and/or 2) the portfolio's overall standard deviation (a measure of interim return volatility) is 20% greater or less than objective. Rebalancing will also occur if the client’s changing circumstances dictate a change in the asset allocation objective. B. All investments are subject to risk. Some of the most common risks to securities investing include loss of principal, loss of purchasing power after taxes and inflation, and loss of principal resulting from rising interest rates. C. On occasion Live Oak recommends investments in vehicles such as hedge funds, private real estate, and private equity, many of which are unregistered securities. These vehicles are generally riskier and much more speculative than traditional equity and fixed income investments. In addition to the risks mentioned above, these investments are subject to the following risks, among others: ➢ Unregistered securities are not governed by regulatory authorities such as the U.S. Securities and Exchange Commission ➢ Loss of entire investment due to the speculative nature of the investment or leverage, among other reasons ➢ Lack of liquidity – lack of a public marketplace, lock-ups and other restrictions on the transfer or sale of interests ➢ Dependence on one or few key personnel ➢ High fees and expenses Disciplinary Information A. Criminal or Civil Action involving Live Oak or its Management - Not applicable B. Administrative Proceedings Before the SEC or other regulatory agency involving Live Oak or its Management - Not applicable 5  C. Self-regulatory Organization Proceedings involving Live Oak or its Management - Not applicable Other Financial Industry Activities and Affiliations A. Broker-dealer registration - Not applicable B. Futures, Commodity Pool Operator, Commodity Trading Advisor - Not applicable C. Kevin P. McCutcheon, CFA® is the Chief Investment Officer of BlueDoor Private Wealth, LLC (“BlueDoor”) and G & O Financial Services, Inc. (“GOFS”). BlueDoor, GOFS and Live Oak are not affiliated. Live Oak does not have any relationship or arrangement with BlueDoor and GOFS at this time that is material to our advisory business or to our clients. C. On occasion Live Oak recommends investments in third party-managed vehicles such as hedge funds, private real estate, and private equity. However, Live Oak is not compensated directly or indirectly by those third-party managers. Code of Ethics, Participation or Interest in Client Transactions and Personal Trading A. Live Oak considers the fiduciary duty it owes to clients as a core underlying principle in how it does business. To this end, Live Oak has adopted a Code of Ethics that requires it to act in each client’s best interest at all times. The Code of Ethics requires Live Oak to conduct its business with the highest level of ethical standards and to comply with all applicable federal and state securities laws at all times. Live Oak makes sure client interests are put before its own and avoids all circumstances that might negatively affect its duty of complete loyalty to clients. Moreover, Live Oak maintains written policies designed to prevent dishonest or unethical conduct, including any practice or course of business that violates applicable federal and state securities laws. Live Oak’s full Code of Ethics is available upon request. B. Refer to Item C. above in “Other Financial Industry Activities and Affiliations”. C. Live Oak manages portfolios for family members of Mr. McCutcheon (“McCutcheon family members”). Live Oak invests in many of the same securities for both clients and McCutcheon family members. On occasion, Live Oak aggregates purchase or sale trades resulting in the same price for all clients involved, which eliminates a potential conflict of interest. Live Oak will distribute a portion of the shares to participating accounts in a fair and equitable manner. If trade aggregation is not possible and similar trades occur on the same day, Live Oak’s policy is to provide non-McCutcheon family clients with the better execution price, if any. Live Oak have adopted allocation policies and procedures to seek to ensure fair treatment of participating client accounts. D. Refer to Item C. above. Brokerage Practices A. Live Oak may recommend that clients establish their primary brokerage accounts with the Schwab Institutional division of Charles Schwab and Co and/or Interactive Brokers LLC, FINRA-registered broker- dealers, members SIPC, to maintain custody of clients’ assets and to effect trades for their accounts. Although Live Oak may recommend that clients establish accounts at these custodians, it is the client’s decision to custody assets at these custodians. Schwab provides Live Oak with access to its institutional trading and custody services, which are typically not available to retail investors. These services are available to Live Oak on an unsolicited basis, at no charge, so long as Live Oak maintains a total of $25 million of clients’ assets in accounts at Schwab Institutional. These services are not contingent upon Live Oak committing to Schwab any specific amount 6  of trading commissions. Schwab’s brokerage services include the execution of securities transactions, custody, research, and access to mutual funds and other investments that are otherwise generally available only to institutional investors or would require a significantly higher minimum initial investment. IB is an agency only, direct market access broker that provides execution, clearance, settlement, and prime brokerage for customers. IB’s business encompasses securities and commodities brokerage. IB is also registered as a Futures Commission Merchant. IB does not engage in proprietary trading. For client accounts maintained in its custody, the custodians generally do not charge separately for custody services but are compensated by account holders through commissions and other transaction-related or asset-based fees for securities trades that are executed through the custodians or that settle into the accounts. Schwab has instituted a zero-commission policy for many trades across its platform. The custodians also make available to Live Oak other products and services that benefit Live Oak but may not directly benefit its clients’ accounts. Many of these products and services may be used to service all or some substantial number of Live Oak’s accounts, including accounts not maintained at these custodians. The custodians’ products and services that assist Live Oak in managing and administering clients’ accounts include software and other technology that (i) provide access to client account data (such as trade confirmations and account statements); (ii) facilitate trade execution and allocate aggregated trade orders for multiple client accounts; (iii) provide research, pricing and other market data; (iv) facilitate payment of Live Oak’s fees from its clients’ accounts; and (v) assist with back-office functions, recordkeeping and client reporting. The custodians also offer other services intended to help Live Oak manage and further develop its business enterprise including (i) compliance, legal and business consulting; (ii) publications and conferences on practice management; and (iii) access to employee benefit providers, human capital consultants and insurance providers. The custodians may make available, arrange and/or pay third-party vendors for the types of services rendered to Live Oak. In evaluating whether to recommend that clients custody their assets at these custodians, Live Oak may take into account the availability of some of the foregoing products and services and other arrangements as part of the total mix of factors it considers and not solely the nature, cost or quality of custody and brokerage services provided by the custodians, which may create a conflict of interest. From time-to-time Live Oak also recommends that a client engage a manager that might require custody at an institution other than these custodians, and it is the client’s decision whether to engage the manager subject to its specific broker-dealer and custody arrangements. Refer to Items C. and D. under “Other Financial Industry Activities and Affiliations”. Live Oak does not consider, in selecting or recommending broker-dealers, whether Live Oak or a related person receive client referrals from a broker-dealer or third-party. Live Oak does not have directed brokerage arrangements. B. On occasion, Live Oak aggregates the purchase or sale of securities for its clients through these custodians. This practice results in uniform pricing across all accounts involved in any particular trade, however it does not necessarily result in lower commissions per account. Refer to Items C. and D. under the “Code of Ethics, Participation or Interest in Client Transactions and Personal Trading”. Review of Accounts A. An Investment Policy Statement is prepared for each client and, if appropriate, for separate family members. This document outlines the client's investment needs, objectives, risk parameters, and an asset allocation objective. 7  B. Account transactions are monitored on a daily basis. Formal account reviews occur quarterly. If market conditions or changes in client circumstances dictate, reviews are also conducted on an as-needed basis. C. Reviews include consolidation of each client's separately managed accounts in order to ascertain overall performance in absolute terms, relative to comparable market indices and to the client's specific objectives. Reviews also focus on individual manager performance within the context of the overall asset allocation strategy. Kevin McCutcheon is the reviewer. Each client is provided with a written review quarterly, and face-to-face meetings are scheduled quarterly in the first year and at least annually thereafter. Each written quarterly review includes market commentary, holdings and market values statement, and performance. Client Referrals and Other Compensation Live Oak does, from time to time, enter into sub-advisory arrangements with outside third parties who refer clients to us. We share a portion of the fees paid by the client. The management fees paid by a client is not increased as a result of any arrangement. When this type of arrangement is employed, it is fully disclosed, in writing, to the client at the time of the referral. Custody Under government regulations, Live Oak is deemed to have custody of client assets if, for example, a client authorizes us to instruct the custodian to deduct our fees directly from a client account domiciled at the custodians, grants Live Oak continuing authority to move money to another person’s account. Otherwise, the custodians maintain actual custody of client assets. Clients receive statements generally monthly, but at least quarterly from all qualified custodians. To the extent that Live Oak provides quarterly reports on account market values and performance, Live Oak advises the client in writing to compare its report to the qualified custodian’s statement for accuracy. Investment Discretion Upon our engagement, Live Oak accepts discretionary authority to manage client’s assets. In order to grant Live Oak’s authority, the client must execute the standard power of attorney provided by the broker-dealer, in Live Oak’s case generally Schwab or IB. Voting Client Securities A. To the extent that Live Oak has discretionary authority, it will accept authority to vote, and its policy is to vote proxies as recommended by each company’s board of directors. B. If a client wishes to vote proxies, Live Oak will arrange with the custodian to have proxies delivered to the client. Financial Information A. Live Oak is not required to provide financial information to our clients because Live Oak does not require or solicit prepayment of more than $1,200 in fees and six or more months in advance. B. Live Oak does not have any financial condition that is reasonably likely to impair our ability to meet our commitments to clients. C. Live Oak has not, at any time, been the subject of a bankruptcy petition. 8  Live Oak Family Offices LLC Customer Privacy Policy Notice Commitment to Your Private Information: Live Oak Family Offices LLC has a policy of protecting the confidentiality and security of information we collect about our clients. We do not, and will not, share non-public personal information (“Information”) about you with outside third parties without your consent, except for the specific purposes described below. This notice has been provided to you to describe the Information we may gather and the situations under which we may need to share it. Why We Collect and How We Use Information. We limit the collection and use of Information within our firm to only those individuals associated or employed with us that must have Information to provide financial services to you. Such services include maintaining your accounts, processing transaction requests, and providing the advisory services described in our Form ADV. How We Gather Information. We get most Information directly from you when you provide us with information from any of the following sources: • Applications or forms (for example: name, address, social security number, birth date, assets, income, financial history) • Transactional activity in your account (for example: trading history and account • balances) Information services and consumer reporting sources (for example: to verify your identity or to assess your credit history) • Other sources with your consent (for example: your insurance professional, attorney, or accountant) How We Protect Information. Our employees and affiliated persons are required to protect the confidentiality of Information and to comply with our stated policies. They may access Information only when there is an acceptable reason to do so, such as to service your account or provide you with financial services. Employees who violate our Privacy Policy are subject to disciplinary action, up to and including termination from employment with us. We also maintain physical, electronic and procedural safeguards to protect Information, which comply with applicable SEC, state, and federal laws. Sharing Information with Other Companies Permitted Under Law. We do not disclose Information obtained in the course of our practice except as required or permitted under law. Permitted disclosures include, for instance, providing Information to unrelated third parties who need to know such Information in order to assist us with the provision of services to you. Unrelated third parties may include broker/dealers, mutual fund companies, insurance companies, and the custodian with which your assets are held. In such situations, we stress the confidential nature of Information being shared. 9  Former Customers. Even if we cease to provide you with financial products or services, our Privacy Policy will continue to apply to you, and we will continue to treat your non-public information with strict confidentiality. 10