Custodian: U.S. Bank

U.S. Bank acts as custodian of all discretionary investment accounts. KM Capital does not take or have custody of any client assets. However, KM Capital may be given authorization by clients to deduct its advisory fee directly from the client's account. KM Capital is not affiliated in any way with U.S. Bank and has only engaged them, on a fee basis, to be custodian of investment accounts. U.S. Bank, by acting as custodian, neither endorses nor recommends any advisor or investment strategy. KM Capital is independently owned and operated and is solely responsible for developing, recommending and implementing your investment strategy.