This Brochure describes the brokerage and investment advisory services that Strategas Securities, LLC (“Strategas”) offers to clients. This Brochure also references other documents that contain additional important information about Strategas. Those documents describe the types of services that SAM offers to clients and certain types of investments it makes available to clients, including the terms, conditions, fees and costs applicable to those services and investments and certain risks and conflicts of interest associated with those services and investments. Those documents are available on Strategas’ website at https://www.strategasrp.com. The information contained in this Brochure is current as of the date above and is subject to change at Strategas’ discretion. Please retain this Brochure for your records. Background and Principal Ownership. Strategas is an investment advisory firm that filed for registration with the Securities and Exchange Commission (“SEC”) in April 2019, and is a broker- dealer registered with the SEC and a FINRA member. As described below, the investment advisory services that Strategas provides are limited to the delivery of Research Services to institutional clients in exchange for a hard dollar fee. Strategas also provides brokerage services, such as execution of securities transactions and incidental advice to clients in its capacity as a broker‐dealer. Strategas is a wholly‐owned subsidiary of Baird Financial Corporation. Baird Financial Corporation is 100% owned by Baird Financial Group, Inc., a privately held holding company owned by the employees of Robert W. Baird & Co. Incorporated (“Baird”), which is a FINRA member broker‐dealer and SEC‐registered investment adviser. Through common ownership, Strategas is affiliated with Baird and Strategas Asset Management (“SAM”), an SEC-registered investment adviser. Strategas’ principal place of business is at 52 Vanderbilt Avenue, Eighth Floor, New York, NY 10017, with an additional office at 1775 Eye Street, Suite 420, Washington, D.C. 20006. Services Provided Strategas provides Research Services, including but not limited to written published reports and commentaries, data updates, conference calls, presentations, conferences, survey analysis and customized projects, to institutional clients. The Research Services offered cover the following areas:
• Investment Strategy
• Economics
• Policy Research
• Quantitative Research
• Technical Analysis
• Fixed Income Research
• Industry

Surveys
• Bespoke Research Generally, the Research Services will not provide analyses on individual companies or securities. The Research Services provided constitute impersonal advice and are not customized to meet the specific investment objectives, goals, strategies, financial needs or risk profile of any client who receives the Research Services (nor any customers of such clients) nor are they intended to form the primary basis on which a client (or any customer of such client) would make an investment decision. The terms and conditions of the Research Services are provided to clients in a Research Services Agreement or similar document between a client and Strategas. Limitations on Our Role as Investment Adviser Strategas is dually-registered as an investment adviser and a broker-dealer, and offers both investment advisory and brokerage services. Although it acts as an investment adviser when it provides Research Services in exchange for cash fees, its investment advisory relationship with clients does not extend to other services it or its affiliates provide or arrangements it or its affiliates have with clients. These non-advisory services include, but are not limited to trading, execution, brokerage and the provision of solely incidental investment advice, such as market color, analysis, perspectives, opinions, commentaries or ideas by Strategas sales or trading personnel. Please note that Strategas does not act as an investment adviser in connection with any trade, transaction or order that a Research Services client may place with Strategas or its affiliates, even if the issuer is one discussed in the Research Services. Likewise, where Strategas provides the Research Services in consideration of commissions or other trading-related compensation, Strategas is acting in its capacity as a broker-dealer and not as an investment adviser. The provision of Research Services in such cases is solely incidental to the brokerage services Strategas provides. Brokerage services are regulated under different standards than those that apply to advisory services, including the types of investment assistance provided, the fees charged and the rights and obligations of the parties. Assets Managed Services provided by Strategas are exclusively limited to Research Services and Strategas does not manage or advise client accounts or assets on either a discretionary or non‐discretionary basis. There are no assets under management in connection with the provision of Research Services.