SATIS ASSET MANAGEMENT LTD

Satis Asset Management Limited Brochure  1. Satis Asset Management Limited trading as Satis Wealth Management Form ADV Part 2A – Firm Brochure As of April 9, 2025 Satis Asset Management Limited 45 Pall Mall London, SW1Y 5JG United Kingdom Phone: +44 (0)20 7930 7797 Website: www.satiswealth.com Email: info@satisuk.com This brochure provides information about the qualifications and business practices of Satis Asset Management Limited, an SEC-registered investment adviser. If you have any questions about the contents of this brochure, please contact Nicholas West at the firm using the contact information above. 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. Registration as an investment adviser does not imply a certain level of skill or training. This brochure is designed to help you understand whether to retain Satis Wealth Management as your investment adviser. Additional information regarding Satis Wealth Management and the firm's registered advisors is also available on the SEC's website at www.advisorinfo.sec.gov. 2. Material Changes Satis Asset Management Limited is newly registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC). As this is the firm’s initial filing of Form ADV Part 2A, there are no material changes to report at this time. Future versions of this brochure will include a summary of any material changes that occur during annual updates or interim amendments. Satis Wealth Management 2 ADV Part 2a- 04/09/2025  3. Table of Contents 1. Cover Page ................................................................................................................... 2 2. Material Changes ......................................................................................................... 2 3. Table of Contents ......................................................................................................... 3 4. Advisory Business......................................................................................................... 4 5. Fees and Compensation ............................................................................................... 5 6. Performance-Based Fees and Side-by-Side Management ................................................ 8 7. Types of Clients ............................................................................................................ 8 8. Methods of Analysis, Investment Strategies, and Risk of Loss........................................... 9 9. Disciplinary Information .............................................................................................. 11 10. Other Financial Industry Activities and Affiliations ......................................................... 11 11. Code of Ethics, Participation or Interest in Client Transactions and Personal Trading........ 12 12. Brokerage Practices .................................................................................................... 13 13. Review of Accounts .................................................................................................... 14 14. Client Referrals and Other Compensation .................................................................... 15 15. Custody ..................................................................................................................... 16 16. Investment Discretion ................................................................................................. 16 17. Voting Client Securities ............................................................................................... 16 18. Financial Information .................................................................................................. 17 Satis Wealth Management 3 ADV Part 2a- 04/09/2025  4. Advisory Business Firm Overview Satis Wealth Management (“Satis”) is a trading name of Satis Asset Management Limited, a private limited company incorporated in England and Wales (Company No. 0798681). The firm is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and is registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC). Satis was established in April 2012 and remains independently owned. The firm is owned by 17 individual shareholders, each holding an equal ownership interest of approximately 6%. No individual shareholder owns 25% or more of the firm, and no group exercises control over the firm. The day-to-day operations are managed by a senior leadership team. Shareholders are informed annually about the firm’s performance and strategic initiatives but do not control management decisions. Assets Under Management As of July 1st, 2025, Satis manages approximately $109,030,241 in discretionary assets and $477,153,854 in non-discretionary assets. Types of Advisory Services Satis offers comprehensive financial planning and investment management services tailored to UK and non-UK high-net-worth individuals & families, trusts & estates, charitable organisations and corporate entities and business owners. Our services are designed to help clients manage wealth and achieve long-term financial objectives. Specific services include: -Discretionary portfolio management - Retirement and estate planning - Tax optimisation strategies - Financial planning, including the use of allowances and risk-based recommendations While Satis generally works with clients who have between $1,000,000 and $10,000,000 in investable assets, exceptions may be made based on individual circumstances. Tailored Services Satis customises its advisory services to each client’s unique financial situation, investment goals, and risk tolerance. During an initial discovery phase, we assess your financial needs and determine whether our services are suitable. If there is a mutual fit, we will formalise the relationship via a written client agreement. No fees are charged during this discovery process. Financial Planning Financial planning services are advisory in nature. Recommendations—such as the use of financial products, tax allowances, and investment strategies—are provided in written form before implementation. All recommendations include a disclosure of associated risks and costs. We assess your financial profile and investment objectives to determine suitable advice. Satis Wealth Management 4 ADV Part 2a- 04/09/2025  If you choose to omit certain areas of discussion, this may affect the comprehensiveness of our advice. Investment Management By default, Satis provides investment management on a discretionary basis, meaning we make investment decisions on your behalf without prior consultation, subject to your investment objectives and any specified restrictions. Before providing these services, clients complete a Discretionary Investment Mandate, outlining their objectives, risk tolerance, and any restrictions. This agreement authorises us to execute investment transactions without prior client approval, provided they align with the mandate. For clients where discretionary management is not suitable, we may provide advisory management instead, mirroring the process used in financial planning. Investment Products and Risks Satis may invest in a broad range of investment products as detailed in the Discretionary Investment Mandate. Each client mandate contains relevant risk disclosures for the investments considered. Investment decisions are made after a thorough assessment of the client’s financial goals, risk profile, and investment time horizon. Ongoing Relationship and Review We conduct at least one annual review meeting to assess whether your portfolio continues to meet your objectives. We also confirm the ongoing suitability of our investment strategy in writing. Clients are encouraged to inform us of any material changes in their personal or financial circumstances. Satis does not offer one-time transactional services and will only engage with clients committed to an ongoing advisory relationship. Wrap Fee Programs Satis does not participate in or sponsor any wrap fee programs. 5. Fees and Compensation Overview of Charges Satis Wealth Management provides advisory services with a focus on building long-term client relationships. Accordingly, our fee structure is based on an ongoing assets-under-management (AUM) model with no initial setup or onboarding charges applied by Satis. Our standard services are subject to a minimum annual fee of $5,000, and fees are calculated based on a tiered percentage of the portfolio value under our management. Fees may be paid from the investment account or directly by the client, as outlined below. Satis Wealth Management 5 ADV Part 2a- 04/09/2025  Standard Tiered Fee Schedule The total advisory charge is composed of two components: Advisory Financial Planning and Discretionary Investment Management. Total Combined Fee Portfolio Value $0 – $1,000,000 $1,000,001 – $5,000,000 Over $5,000,000 Annual % Fee (Total) 0.90% 0.75% 0.60% Fee Breakdown Advisory Financial Planning Portfolio Value $0 – $1,000,000 $1,000,001 – $5,000,000 Over $5,000,000 Annual % Fee 0.70% 0.55% 0.40% Discretionary Investment Management Portfolio Value All tiers Annual % Fee 0.20% Note: Fees are calculated using a tiered (marginal) structure. Each portion of your portfolio is charged at the rate applicable to that tier, not as a flat percentage across the total value. Illustrative Example – Portfolio of $1,500,000 Portfolio Tier First $1,000,000 Next $500,000 Rate 0.90% 0.75% Effective Rate- 0.85% Charge ($) $9,000 $3,750 TOTAL- $12,750 How Fees Are Collected • Ongoing fees commence once investable funds are received by the platform provider recommended by Satis, or once Satis assumes servicing rights on an existing plan. • Fees are typically deducted monthly in arrears from the investment account via the platform provider, based on the month-end portfolio value. • Clients may also elect to pay fees directly by cheque or electronic bank transfer, in which case fees are payable within 14 business days of receiving a fee invoice. Where ongoing fees are calculated based on a percentage of assets, the dollar value of fees may increase or decrease as the portfolio value fluctuates. Satis Wealth Management 6 ADV Part 2a- 04/09/2025  Due to the dual citizenship of some of the individuals and families that we advise we may sometimes have to apply an additional charge know as VAT (Value Added Tax), in line with UK law. This is a UK tax and may be applicable when we are advising on UK domiciled assets. We will advise when this additional charge is applied. Fee Negotiability Satis reserves the right to negotiate fees in certain circumstances, such as for high-net-worth clients, strategic partnerships, or legacy arrangements. Any negotiated fees will be documented in writing. Other Fees and Expenses In addition to Satis's fees, clients may incur the following third-party costs: Investment Funds (ETFs & Mutual Funds) Underlying investments may impose internal fees and expenses, which are reflected in each fund’s prospectus. These costs are embedded in the fund’s net asset value and are not billed separately. Platform and Custodian Fees The recommended custodian or platform provider may charge fees for: • Account maintenance • Trading • Custody services • Ancillary administrative support • Transaction fees In some cases, these fees may be deducted by the provider and remitted to Satis for onward payment. Any non-standard service charges will be disclosed and agreed upon prior to implementation. Illustrative example- portfolio of $1,500,000 in an 80/20 portfolio. $ $12,750.00 $3,000.00 $4,200.00 $19,950.00 Charge Adviser Charge Platform Charge Investment/Portfolio Charge Total Charge % 0.85% 0.2% 0.28% 1.33% Termination and Refund Policy Either party may terminate the advisory agreement: Satis Wealth Management 7 ADV Part 2a- 04/09/2025  • By Satis: With at least 30 business days’ written notice • By the client: At any time, in writing, without penalty If services are terminated before the end of a billing cycle: • Fees already earned will remain payable. • Any prepaid but unearned fees will be prorated and refunded promptly. If the relationship ends immediately following the initial "Discovery Period" with no services executed, Satis will absorb all internal costs. However, where services are rendered but fees paid fall below the minimum annual fee, a one-time adjustment fee (up to the £5,000 minimum) may apply. 6. Performance-Based Fees and Side-by-Side Management Satis does not charge performance-based fees and does not engage in side-by-side management of performance-fee and standard-fee accounts. Disclosure and Confirmation All fees and related charges will: • Be provided in writing in advance • Require client written consent prior to implementation • Be reconfirmed annually or as material changes occur 7. Types of Clients Satis Wealth Management provides advisory services to a diverse range of clients. These include: • High-net-worth individuals and families, primarily based in the United Kingdom • Non-UK individuals, including clients residing in the United States and other jurisdictions • Trusts and estates • Charitable organisations • Corporate entities and business owners Satis typically works with clients who have investable assets of $1,000,000 (USD) or more. However, accounts with lower asset levels may be accepted at the discretion of senior management, particularly in cases involving legacy relationships, referrals, or clients with significant future growth potential. Unless otherwise agreed, all clients will be treated as Retail Clients under the UK regulatory framework, which ensures the highest level of regulatory protection. Please note that certain protections may not apply to clients located outside the United Kingdom, subject to local regulatory exemptions or limitations. Satis Wealth Management 8 ADV Part 2a- 04/09/2025  8. Methods of Analysis, Investment Strategies, and Risk of Loss Methods of Analysis Satis Wealth Management employs a disciplined, long-term investment approach. We define a good portfolio as one designed to endure various market conditions and provide clients with the highest probability of achieving their financial goals. Our strategy is rooted in a buy-hold-rebalance philosophy based on strategic asset allocation, which is reviewed regularly by our Investment Committee. While Satis does not engage in market timing or tactical trading, strategic allocations may evolve over time in response to new empirical evidence, client objectives, and economic research. Investment decisions are guided by a priced risk-factor framework and passive market-cap weighting, with necessary adjustments made based on empirical studies and client-specific considerations. Every client’s financial situation, risk tolerance, and goals, are assessed to ensure investment portfolios are suitable. Before recommending portfolio-based solutions, we also evaluate non-investment options, such as debt repayment, annuity purchases, or other relevant strategies. Investment Strategies Satis constructs diversified model portfolios that are: • Broadly diversified across security types, geographies, and asset classes • Implemented using low-cost, index-based investment vehicles • Structured around priced risk factors with long-term academic backing • Rebalanced periodically to maintain strategic allocation and manage drift This systematic, evidence-based process is implemented through a centralised investment proposition (CIP) that enables consistent, cost-effective, and transparent portfolio construction. Satis does not recommend speculative or short-term trading strategies. We believe in building portfolios that favour simplicity, transparency, and reliability, aiming to optimise risk-adjusted returns. Risk of Loss All investments involve risk, including the possible loss of principal. There is no guarantee that any investment strategy will achieve its intended outcome. Investing requires managing multiple forms of risk. While our strategies are designed to reduce unnecessary exposures, clients should be aware of the following key investment risks: • Equity Risk: Decline in stock market values may impact portfolio returns. • Credit Risk: Issuers of debt instruments may fail to meet their payment obligations. • Inflation Risk: Inflation may erode the purchasing power of your investment returns. • Sequence Risk: Withdrawals made during a market downturn can significantly reduce Satis Wealth Management 9 ADV Part 2a- 04/09/2025  portfolio longevity. • Risk Drift: Market movements may unintentionally shift asset allocations away from the original strategy. • Behavioural Risk: Emotional responses to market events may lead to poor investment decisions. • Political/Social Risk: Geopolitical instability may impact investment values. • Horizon Mismatch: Investment time frames that misalign with client goals may create liquidity or risk issues. The products we recommend have specific risks associated with them, some of which are included above. When considering risk on a product level, clients should be aware of the following risks: Mutual Funds & ETFs • Market Risk- The risk that market downturns cause the value of the investment to decrease. • Manager Risk- The risk that decisions by the fund manager affect the return of the fund. • Style Risk- The risk that the style profile of the fund (small, value etc) may underperform the overall market. • Liquidity Risk- The risk that you may not be able to sell your investment quickly, particularly without a loss of value. • Tax Risk- The risk that changes in legislation may change the tax treatment of mutual funds • or ETFs. Inflation Risk- Risk that inflation will outpace the return, particularly in the short term and erode the purchasing power of the capital. • Tracking error/ benchmark risk- the risk that the investment underperforms its benchmark. • Concentration Risk- the risk that the fund does not hold a well-diversified portfolio of underlying assets. • Operational Risk- the risk that the reliance on the fund managers processes and trading systems may lead to reduction in returns. US TIPS (Individually held) • • Interest rate risk- changes in interest rate affect the price of the bond, longer dated TIPS are more sensitive to interest rate changes. If you do not hold the specific issue to maturity, if interest rate rise the price of the bond will fall. Inflation Risk- TIPS are linked to CPI and there is typically a lag for inflation adjustments. Inflation adjustments may not reflect your personal increase in living costs. • Reinvestment risk- the risk that coupon or principal payments of US TIPS will be reinvested at lower rates. • Suitability risk- the risk that TIPS are not sold at the appropriate time and no longer meet the desired time to maturity (set by Satis), 5-15 years. We classify risks using four potential outcomes: accept, avoid, reduce, or transfer. Each risk’s inclusion in a portfolio is evaluated based on whether: Satis Wealth Management 10 ADV Part 2a- 04/09/2025  • It is adequately understood by both advisor and client • It is compensated appropriately through expected returns • It contributes to the overall effectiveness and diversification of the portfolio • It can be monitored and managed on an ongoing basis Risk decisions are made using empirical evidence, common sense, and a commitment to clients’ best interests. Our selection of risks helps refine the investment universe into a focused, transparent set of options that maintains the firm’s independent and fiduciary position. Satis will continue to evaluate emerging academic and market research to refine its investment strategies and ensure ongoing alignment with client goals and changing market dynamics. 9. Disciplinary Information Satis Wealth Management is required to disclose any legal or disciplinary events that would be material to your evaluation of the firm or the integrity of its management. Neither Satis nor any of its directors, officers, or employees have been involved in any reportable legal or disciplinary events in the past 10 years. 10. Other Financial Industry Activities and Affiliations Satis Wealth Management maintains relationships with several affiliated firms. These affiliations are disclosed to clients where relevant, and potential conflicts of interest are actively managed in accordance with SEC regulations and industry best practices. These firms include: • Satis Trustees- A wholly owned subsidiary of Satis Wealth Management that provides corporate trustee services. • Satis Tax- A UK-based accountancy firm that offers tax planning services to UK, US, and international clients. • Hillier Hopkins LLP- A UK-based chartered accountancy firm that shares some common ownership, office space, and client relationships with Satis. Although these affiliated firms may offer complementary services, each operates independently and requires a separate engagement agreement with distinct terms of business. Fees are invoiced separately, although intercompany billing may occur for internal administrative purposes. Satis regularly reviews these affiliations to ensure that any potential conflicts of interest are identified, disclosed, and mitigated appropriately. We remain committed to providing objective, client-centric advice, regardless of any affiliation. Satis Wealth Management 11 ADV Part 2a- 04/09/2025  11. Code of Ethics, Participation or Interest in Client Transactions and Personal Trading Code of Ethics Overview Satis adheres to a formal Code of Ethics that sets forth standards of conduct expected of our personnel and addresses conflicts that may arise in the course of providing investment advisory services. Our Code is designed to ensure that our firm and its employees act with integrity, professionalism, and in the best interest of clients at all times. Regulatory Foundations While Satis is registered with the U.S. Securities and Exchange Commission, our ethical framework is principally informed by the Conduct Rules issued by the U.K. Financial Conduct Authority (FCA). These rules are divided into two tiers: Tier 1: Individual Conduct Rules – Apply to all personnel (except ancillary staff): - Act with integrity - Act with due care, skill, and diligence - Be open and cooperative with regulators - Pay due regard to the interests of customers and treat them fairly - Observe proper standards of market conduct Tier 2: Senior Manager Conduct Rules – Apply to individuals in senior management roles: - Ensure effective control of business operations - Ensure regulatory compliance - Delegate responsibilities appropriately and oversee their execution - Non-executive directors and executive directors in limited-scope firms are also subject to these rules In addition, Satis upholds the ethical principles of the Centre for Fiduciary Excellence (CEFEX) and the Chartered Insurance Institute (CII). However, the FCA Conduct Rules take precedence where applicable. Participation or Interest in Client Transactions Satis and its employees may recommend or invest in the same securities that are also recommended to clients. In such instances, we strive to mitigate conflicts through disclosure and adherence to internal controls that prioritise client interests. We do not trade ahead of clients or engage in transactions where client interests may be compromised by employee activity. Personal Trading Policies Our Code of Ethics includes robust policies governing personal securities transactions. These policies are designed to prevent conflicts of interest and ensure that the interests of clients are Satis Wealth Management 12 ADV Part 2a- 04/09/2025  placed ahead of those of the firm and its employees. Among other provisions, the Code requires: - Pre-clearance of certain personal trades - Mandatory reporting of personal securities holdings and transactions - Restrictions on trading in securities recommended to clients Gifts, Entertainment, and Confidentiality The Code also addresses standards related to the acceptance of gifts, entertainment, and handling of confidential client information, ensuring compliance with ethical and regulatory expectations. Brokerage Practices and Review of Accounts 12. Brokerage Practices Satis Wealth Management (“Satis”) is committed to fulfilling its regulatory duty to seek best execution when placing orders on behalf of clients. While Satis does not directly execute trades, it transmits client orders to approved third-party platforms, custodians, or fund managers who execute these transactions through their own execution venues. Satis does not maintain direct relationships with execution venues such as stock exchanges. Instead, orders are routed to third-party brokers or platforms, who are responsible for execution and settlement according to their own best execution policies. Where clients hold investments on one of Satis’s preferred platforms, orders are placed directly with that provider. Satis regularly reviews the suitability and effectiveness of its preferred platforms and execution partners to ensure they continue to offer competitive pricing, reliable execution, and efficient settlement. When evaluating execution venues through our third-party providers, Satis considers a range of factors, including: • Price • Cost • Speed of execution • Likelihood of execution and settlement • Order size and nature • Other relevant criteria depending on the context of the trade While price is typically the most important consideration, other factors may take precedence depending on the specific circumstances. Unless clients provide specific instructions, Satis assumes that best price execution is the primary objective. A copy of our Best Execution Policy is available upon request. Satis Wealth Management 13 ADV Part 2a- 04/09/2025  Satis may receive product or platform training from brokers or platform providers to remain up- to-date on operational or regulatory changes. However, Satis does not receive any soft dollar benefits or non-monetary compensation in exchange for business or order flow. Likewise, Satis does not receive client referrals from brokers. If a client requests the use of a brokerage or platform not currently partnered with Satis, we will conduct appropriate due diligence to ensure the provider meets our operational and compliance standards. In some cases, we may not be able to accommodate specific platforms if those standards are not met. Satis does not engage in aggregation of client orders for execution, as trades are typically placed individually through third-party platforms. In the event aggregation occurs, Satis will ensure trades are allocated fairly and equitably across all participating client accounts. Satis does not typically permit clients to direct brokerage. If a client requests to do so, such arrangements will be reviewed and assessed for feasibility and compliance with our fiduciary obligations. 13. Review of Accounts Satis Wealth Management is committed to delivering a proactive and structured ongoing service for both discretionary and advisory clients. Reviews are designed to ensure that each client’s investment strategy remains aligned with their evolving goals, risk tolerance, and market conditions. Clients may contact Satis at any time for financial planning support. Our team-based approach ensures that any member of the advisory or support team can assist you promptly and efficiently. The underlying investments for discretionary portfolios are monitored on an ongoing basis by members of the Satis Investment Committee. The full committee meets at least quarterly, with additional meetings held as necessary in response to material changes in the economic environment. Discretionary investment portfolios are formally reviewed on a monthly basis by your Investment Manager. Adjustments may be made as required under the terms of your investment mandate and subject to any restrictions you have placed on your account. These reviews support prompt and responsive portfolio management. All clients receive quarterly valuation reports issued by Satis, accompanied by a market commentary. Clients with discretionary accounts will also receive consolidated reporting from the custodian. These reports provide insight into portfolio performance, allocations, and any recent changes. Satis Wealth Management 14 ADV Part 2a- 04/09/2025  For advisory clients, formal strategy reviews are conducted annually, or more frequently if changes are recommended by the Investment Committee. These reviews assess portfolio structure and suitability in light of current market dynamics and client objectives. Both discretionary and advisory clients receive a comprehensive annual review, regardless of interim contact. During this review, we reassess: • Your investment mandate (for discretionary portfolios) • Financial goals and personal objectives • Risk tolerance and capacity for loss • Investment time horizons • Tax or legal changes that may impact planning Following the review, your Wealth Manager will confirm whether your existing plan remains suitable or if adjustments are necessary. If your current strategy continues to meet your objectives and personal circumstances, we will issue a written confirmation of ongoing suitability. Should your situation change, or we identify areas for improvement, we will provide updated recommendations and implement changes accordingly, subject to your consent. 14. Client Referrals and Other Compensation Satis Wealth Management does not receive any form of cash compensation, sales incentives, or economic benefits from third parties in exchange for providing investment advice or other advisory services to clients. While Satis may occasionally receive non-monetary benefits—such as training sessions or access to facilities provided by custodians or investment platforms—these are solely intended to maintain operational effectiveness. These benefits are reviewed for potential conflicts of interest, and Satis does not enter into arrangements that impair its fiduciary duty. Satis does not pay for client referrals nor receive client referrals from unaffiliated third parties, such as law firms or other professional service providers. Client Testimonials Client testimonials included in Satis Wealth Management's marketing materials, including this brochure, are provided voluntarily. These testimonials reflect individual experiences and are intended for illustrative purposes only. Disclaimer: Testimonials are not indicative of future performance. Investment outcomes may vary based on individual circumstances. Past performance is not a guarantee of future results, and Satis does not imply that clients will experience similar outcomes. No payment is involved for client testimonials. Satis Wealth Management 15 ADV Part 2a- 04/09/2025  15. Custody Satis Wealth Management does not take custody of client funds or securities. However, Satis is authorised, with client consent, to deduct advisory fees directly from accounts held with qualified custodians. Clients will receive quarterly account statements directly from the custodian showing all holdings and transactions, including advisory fee deductions. Satis strongly encourages clients to review these statements carefully and compare them with any reports provided by our firm. If clients have any concerns regarding their custodial account, Satis should be the first point of contact to assist with reconciliation or to facilitate further inquiry with the platform provider. 16. Investment Discretion Satis Wealth Management offers discretionary investment management services, under which we are granted authority to make investment decisions on a client’s behalf without prior consent for each transaction. This authority is granted through a Discretionary Investment Mandate, completed and agreed upon before services begin. The mandate documents: • Your Investment Objectives • Any Relevant Restrictions • Your attitude toward investment risk Subject to these terms, Satis is authorised to manage your portfolio, including purchasing and selling any type of permissible investment. Our decisions will always reflect your goals, risk tolerance, and overall financial profile. We confirm the ongoing suitability of your investments at least annually and may request updated information if your circumstances change. We ask that clients promptly notify us of any material changes to their objectives or restrictions. Important Disclosure: All investments involve risk. Values can fall as well as rise, and you may not recover the amount originally invested. Market volatility and economic changes can impact investment values. Past performance is not necessarily indicative of future results. Satis also provides advisory investment services, where all decisions must be approved by the client prior to execution. We undertake a comprehensive discovery process to determine the most suitable service approach. 17. Voting Client Securities Satis Wealth Management does not vote proxies or take action on corporate governance issues related to securities held in client accounts, unless explicitly directed to do so by the client. Satis Wealth Management 16 ADV Part 2a- 04/09/2025  Clients retain all rights associated with their securities, including the ability to vote proxies and act on corporate actions (e.g., mergers, acquisitions, reorganisations). Information about such events is typically provided through custodial account statements or direct notices. Clients who wish for Satis to assist in these matters should contact us in advance with clear written instructions. 18. Financial Information Satis Wealth Management does not require or solicit prepayment of fees exceeding $1,200 per client, six months or more in advance. Therefore, we are not required to provide an audited balance sheet. Satis affirms that: • It has no financial commitments that would impair its ability to meet client obligations. • It has no adverse financial conditions to disclose. • It has not been the subject of a bankruptcy petition at any time in its history. Satis Wealth Management 17 ADV Part 2a- 04/09/2025  Satis Wealth Management 18 ADV Part 2a- 04/09/2025