A. Firm Information Efficient Advisors, LLC (“Efficient”) is an investment adviser registered with the Securities and Exchange Commission. Efficient was founded in 2009 and is owned by Efficient Advisors Parent, Inc. Efficient Advisors Parent, Inc. is owned by Fiduciary Services Group, LLC as of March 2024. This Disclosure Brochure provides information regarding the qualifications, business practices, and the advisory services provided by Efficient. B. Advisory Services Offered Turn-Key Asset Management Services Efficient offers an asset allocation service designed to build long-term wealth while maintaining risk tolerance and loss threshold levels based on your distinct financial needs and goals. We offer model portfolios designed to allocate your assets among exchange-traded funds (“ETFs”), no-load mutual funds, managed futures mutual funds, and/or variable annuity sub accounts (referred to as “Fund” or “Funds”). Our service includes monitoring your account and rebalancing and/or reallocating your assets on a discretionary basis in order to maintain your model allocation selection. Other financial services firms and professionals, such as independent financial planners, investment advisers, CPAs, and brokerage firms and their representatives refer their clients to Efficient. We refer to these professionals in this brochure as your Advisor or RIA Firm (or “RIA Firms” if referring to more than one). Initially, your Advisor will assist you in understanding our Investment Management Agreement, defining your investment goals and risk tolerance (“Investor Profile”), and selecting an allocation model based upon your Investor Profile. Please remember that your Investor Profile is only a guide to selecting an appropriate portfolio. Your Advisor may suggest a portfolio with a higher or lower risk level than the Investor Profile indicates. If that happens, please make sure that you understand his/her rationale for doing so before signing the Investment Management Agreement. We require your Advisor to maintain an ongoing relationship with you and meet with you on a periodic basis to discuss changes in your personal or financial situation, suitability requirements, and any new or revised reasonable restrictions you would like to impose on your account(s). Because your Investor Profile helps to determine your allocation strategy, you are responsible for promptly communicating all changes in your financial circumstances and investment objectives. We review your account(s) in the context of your stated investment objectives and your Investor Profile dictates any adjustments we make. For this reason, prompt notification by you results in maintaining your assets in alignment with your individual needs. We can explore other investment options at your request, but when Efficient begins its management of your account, in all likelihood your existing assets will be sold to fund your model portfolio purchases. You may be able to place reasonable restrictions on the individual investments held within your account. These restrictions must be in writing and accompany the Investment Management Agreement. Restrictions must be accepted by Efficient, and acceptance is at the sole discretion of Efficient. Allocations for Small Accounts Efficient has developed alternatives for handling individual accounts with a current market value of less than $50,000. We refer to these alternative allocations as “Small Account Allocations.” Small Account Allocations mirror the standard Efficient Portfolio that you have chosen as closely as possible given the constraints of account size and the specific portfolio selected. They may also include fewer underlying Funds. The purpose of Small Account Allocations is to manage smaller balances more effectively and reduce your transaction costs. Be advised that this may also reduce your portfolio’s diversification. Accounts valued between $10,000 and $50,000 may be invested in a model with approximately five (5) to seven (7) underlying Funds. For accounts valued between $1,000 and $10,000, we may invest your assets in a single asset allocation Fund without an allocation to managed futures, even if requested. An account with less than $1,000 in market value may not be invested until it becomes at least $1,000. Once your account’s market value exceeds a certain threshold (as determined by Efficient at our sole discretion), your account may be transitioned out of the Small Account Allocation and into the standard allocation for your selected Efficient Portfolio. Efficient will consider transaction costs and tax impact before initiating such transition and if a transition is initiated it may result in transaction charges by your Custodian and you may experience a taxable gain or loss if applicable to such account. Efficient also reserves the right to transition your portfolio into a Small Account Allocation if the market value is reduced to an amount below the thresholds listed earlier in this section. As with a transition to a standard portfolio, this transition to a Small Account Allocation may result in transaction charges by your Custodian and you may experience a taxable gain or loss if applicable to such Account. Efficient reserves the right to change, alter, or terminate the Small Account Allocations at any time at our sole discretion. d.b.a Evidence Based Advisors Evidence Based Advisors [“EBA”] offers an asset allocation service designed to build long-term wealth while maintaining risk tolerance and loss threshold levels based on your distinct financial needs and goals. EBA offers model portfolios designed to allocate your assets among exchange- traded funds (“ETFs”), no-load mutual funds, and/or variable annuity sub accounts (referred to as “Fund” or “Funds”). Our service includes monitoring your account and rebalancing and/or reallocating your assets on a discretionary basis in order to maintain your model allocation selection. Other financial services firms and professionals, such as independent financial planners, investment advisers, CPAs, and brokerage firms and their representatives refer their clients to EBA. We refer to these professionals in this brochure as your Advisor or RIA Firm (or “RIA Firms” if referring to more than one). Initially, your Advisor will assist you in understanding our Investment Management Agreement, defining your time horizon and risk tolerance (“Investor Profile”), and selecting an allocation model based upon your Investor Profile. Please remember that your Investor Profile is only a guide to selecting an appropriate portfolio. Your Advisor may suggest a portfolio with a higher or lower risk level than the Investor Profile indicates. If that happens, please make sure that you understand his/her rationale for doing so before signing the Investment Management Agreement. We require your Advisor to maintain an ongoing relationship with you and meet with you on a periodic basis to discuss changes in your personal or financial situation, suitability requirements, and any new or revised reasonable restrictions you would like to impose on your account(s). Because your Investor Profile helps to determine your allocation strategy, you are responsible for promptly communicating all changes in your financial circumstances and investment objectives. We review your account(s) in the context of your stated investment objectives and your Investor Profile dictates any adjustments we make. For this reason, prompt notification by you results in maintaining your assets in alignment with your individual needs. We can explore other investment options at your request, but when EBA

begins its management of your account, in all likelihood your existing assets will be sold to fund your model portfolio purchases. You may be able to place reasonable restrictions on the individual investments held within your account. These restrictions must be in writing and accompany the Investment Management Agreement. Restrictions must be accepted by EBA, and acceptance is at the sole discretion of EBA. Retirement Plans If your account is a retirement plan subject to Employee Retirement Income Security Act of 1974 (“ERISA”), you will appoint Efficient as “Investment Manager” under Section 3(38) and/or “investment adviser” under Section 3(21) of ERISA. You will furnish copies of all documents governing the plan that give you authority to retain Efficient and that govern Efficient’s services to the plan. In addition, you will send to Efficient any amendments to your ERISA plan that affect Efficient’s rights or obligations. The amendment will be binding on Efficient only when we have sent you written notice of our agreement to the amendment. Efficient will not have any responsibility for assets held outside of the custodial or trust account over which it has discretion. You will be required to name Efficient as a fiduciary in the plan's ERISA fidelity bond covering the account. Unmanaged Assets From time to time, you may decide to hold certain securities or other property for which Efficient does not provide investment advisory services ("Unmanaged Assets") in your custody or brokerage account(s). Requests to hold an Unmanaged Asset must be made in writing and requires the approval of Efficient. Efficient will have no duty, responsibility or liability with respect to these assets, and therefore, Efficient will not charge an investment advisory fee. However, if you have an account that solely contains Unmanaged Assets, Efficient reserves the right to charge an account maintenance fee of $5 per month. Sub-Advisory Services Efficient provides other financial services firms and professionals with outsourced investment management services as a sub-advisor. In our capacity as a sub-advisor, Efficient provides discretionary investment management services, including asset allocation, portfolio construction, investment management and supervision services. These sub-advisory services are generally part of a broker-dealer’s managed account program whereby the Client will then enter into a program and investment advisory agreement with the program sponsor and then elect Efficient as their money manager. The Advisor will assist and advise the Client in establishing investment objectives for the account, the selection of Efficient, and defining any restrictions on the account. Efficient will continue to provide oversight of the Client’s selected portfolio. In consideration for such services, the Program Sponsor will charge a program fee that includes the investment advisory fee of the money managers, the administration of the program and trading, clearance and settlement costs. The Program Sponsor will add Efficient‘s Investment Advisory Fee (described below in Item 5) and will deduct the overall fee from the Client account, generally at the start of each calendar quarter. The asset-based program fee is generally tiered and varies depending on the size of the account. The client’s advisor also provides copies of Efficient’s Disclosure Brochure and gathers the account opening documentation from the client. Efficient receives notice of the account opening documentation from the Advisor. Efficient does not typically meet with clients of the Sub-Advisory Services and relies on the client’s Advisor to provide updates with regard to changes in client risk tolerance, goals and suitability. Clients are instructed to channel their communication and update their suitability information directly with their Advisor who made the portfolio selection on their behalf. If a client wishes to place restrictions on the portfolio management, those requests should be processed through the client’s Advisor. Financial Planning & Consulting Efficient may provide a variety of financial planning and consulting services to your Advisor, on your Advisor’s behalf, or to individuals and families. Services are offered in several areas of a Client’s financial situation, depending on their goals, objectives and financial situation. Financial planning and consulting recommendations may pose a potential conflict between the interests of Efficient and the interests of the Client. Clients are not obligated to implement any recommendations made by Efficient, or their Advisor. If the Client elects to act on any of the recommendations made by Efficient, the Client is under no obligation to affect the transaction through Efficient. Third-Party Model Portfolio Program Efficient provides access to third-party model portfolios made available by model providers on our platform via our Third-Party Model Portfolio Program (“TPMP”). In this program, Your Advisor will select one or more third-party model portfolios based on Your investment profile. Efficient’s role in this program is to provide administrative support and trading execution based on the model portfolio(s) You and Your Advisor select. For the services we provide, Efficient will charge a maximum of 0.35% annually based on the value of your account(s) in this program. Specific information regarding fees for this program will be disclosed in the TPMP Agreement You and Your Advisor execute with Efficient. FICA For Advisors Cash Management Program Efficient makes available to clients the FICA For Advisors Cash Management Program (“FICA Program”) offered by StoneCastle Network, LLC (“StoneCastle”), an affiliate of StoneCastle Cash Management, LLC. The FICA Program allows customers the ability to protect their money by placing it in deposit accounts at banks, savings institutions and credit unions (collectively, “Insured Depositories”) in a manner that maintains full insurance of the funds by the Federal Deposit Insurance Corporation (“FDIC”) or National Credit Union Administration (“NCUA”), whichever is applicable. Funds will be deposited within StoneCastle’s network of Insured Depositories (“Deposit Network”). StoneCastle requires a minimum deposit of $100,000 to open a FICA Program account. Efficient will assist clients in signing up for this program and facilitating the transfer of funds between the client’s like-named accounts. Efficient will earn a fee of 0.1% from StoneCastle if clients participate in this program. This arrangement presents a conflict of interest to the extent that Efficient is incentivized to make recommendations to the FICA Program based on the fee being paid to Efficient by StoneCastle. D. Wrap Fee Program Efficient participates as an investment manager in a wrap fee program called ManagedPlan, which is offered by Fiduciary Advisors, LLC. The portfolios and services offered by Efficient through ManagedPlan are the same as those offered to clients that come directly to Efficient. Those clients who are introduced to Efficient through the ManagedPlan program will receive ManagedPlan’s Disclosure Brochure that describes the program, its services and related costs. E. Assets Under Management Efficient’s assets under management were $2,357,579,975 as of December 31, 2023 across all programs described above. Of this amount, $75,132,843 were managed on a non-discretionary basis.