Client Relationship Summary

As of March 20, 2026

Greenwood Capital Associates, LLC (“Greenwood Capital”) is an investment advisory firm registered with the Securities and Exchange Commission (SEC). Investment advisory services differ from brokerage services. Fees differ as well, and it is important for retail investors to understand the differences. Free and simple tools are available to research firms and financial professionals at www.investor.gov/CRS, which also provides educational materials about broker-dealers, investment advisers, and investing.

Frequently Asked Questions

What investment services and advice can you provide me?

We offer personalized investment advisory services to retail investors. If you work with us directly, we assess your financial needs through discussions and gathered information, then design a tailored asset allocation and investment portfolio. If your portfolio is managed through an independent financial advisor or broker-dealer (a dual contract arrangement), we rely on your advisor to determine your investment needs. (See Form ADV 2A: Item 4.B)

To provide ongoing advice and supervision, direct and indirect clients provide us with written discretionary authority to manage their account with respect to securities and number of securities to be bought or sold. Details of this relationship are outlined in our Investment Advisory Agreement before any advisory relationship begins. We review your investment portfolio at least annually and, for direct clients, typically on a quarterly basis or when significant changes occur (such as contributions, withdrawals, or major life events). (See Form ADV 2A: Item 13)

Our investment approach primarily includes equities, fixed income, and exchange-traded funds (ETFs), though we may use other securities to diversify portfolios. You may request reasonable investment restrictions that do not hinder us in properly servicing your account. While we typically require a $250,000 minimum account size, we may waive this based on individual circumstances. (See Form ADV 2A: Items 4.B, 4.C, and Item 7)

Additionally, we offer financial planning and retirement advice, either as a stand-alone service or as part of our broader relationship. Financial plans are reviewed upon delivery, and retirement advice is provided upon request unless we actively manage the retirement account. For accounts not held with our custodians (“held away assets”), such as employer-sponsored 401(k) plans, we use a third-party platform to provide management services. At your request, we may also assist with certain account disbursements or administrative requests based on your written instructions on file with your account custodian. (See Form ADV 2A: Item 4.B)

Conversation Starters

• Given my financial situation, should I choose an investment advisory service? Why or why not?
• How will you choose investments to recommend to me?
• What is your relevant experience, including your licenses, education, and other qualifications?
• What do these qualifications mean?

What fees will I pay?

Our advisory services are provided on a fee-only basis; we do not receive any commission or revenue sharing from the securities we recommend. The standard investment advisory fee is 1% of discretionary assets under management, including cash, cash equivalents, and accrued income.

Investment Advisory Fees and minimum account balance requirement are negotiable. Our fee is calculated as a percentage of the quarterly 3-month average account month end market value, including cash, and is typically paid quarterly in arrears. The more assets in your advisory account, the more you will pay in fees, and therefore, we have an incentive to encourage you to increase the assets in your account. Indirect client fees are calculated in the same manner and paid in accordance with the agreement with the primary financial advisor, unless stated otherwise in your contract. Fees are negotiable depending upon your needs and the complexity of the situation. Held away assets receive a 40% discount on our standard fee. We assess a minimum household advisory fee of $150 per quarter and a $150 early account closure fee if the relationship is terminated within six months of funding. (See Form ADV 2A, Item 5).

You may also incur separate fee(s) for custody as outlined in your custodial agreement.  A commission, which is included in the price of a transacted security, is also paid to the executing broker. (See Form ADV 2A: Item 5 and 12) Depending on the securities in your portfolio, you may also have product level fees paid to the product provider.  We reserve the right to charge a fee for Financial Planning services, which would be agreed to by you before the plan was initiated. When financial planning is provided as a stand-alone service, the one-time fee is $3,500, which may be refunded to you if you were to become an Investment Advisory Client. The refund methodology is detailed in our Financial Planning Engagement Letter and in our ADV.. (See Form ADV 2A: Item 5 and Item 12)

Depending on the securities in your portfolio, you may also have product level fees paid to the product provider. We reserve the right to charge a fee for Financial Planning services, which would be agreed to by you before the plan was initiated. When financial planning is provided as a stand-alone service, the one-time fee is $3,500, which may be refunded to you if you were to become an Investment Advisory Client. The refund methodology is detailed in our Financial Planning Engagement Letter and in our ADV. (See Form ADV 2A: Item 5)

You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying.

Conversation Starters

• Help me understand how these fees and costs might affect my investments?
• If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me?

What are your legal obligations to me when acting as my investment adviser? How else does your firm make money and what conflicts of interest do you have?

When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the investment advice we provide you. Here are some examples to help you understand what that means.

• We and our affiliates may also receive compensation in connection with client referrals within our organization, which creates an incentive to make such referrals.
• As a result of various business partnerships, we receive full or partial economic benefit through additional products and services made available to us by those partnerships, which benefit us. (See Form ADV 2A: Item 14)
• In some instances a higher commission is paid to a broker-dealer that is selected by us for executing a transaction in excess of a commission another broker-dealer may charge for executing the same transaction. This excess commission is paid in exchange for the value of brokerage and research services provided by the broker-dealer. (See Form ADV 2A: Item 12)
• For additional information regarding potential conflicts of interest, please see our Form ADV 2A available by request or on our website www.GreenwoodCapital.com.

Conversation Starters

• How might your conflicts of interest affect me, and how will you address them?

How do your financial professionals make money?

Our financial professionals are paid through a combination of salary and incentive‑based compensation. Incentive compensation may include a portion of the advisory, financial planning, an/or retirement plan consulting fees paid by clients, bonuses based on factors such as client relationships and referrals, and compensation for referrals made within our organization. (See Form ADV 2B for each investment advisor representative)

Greenwood Capital participates in an internal referral program with its parent company, TCB Corporation. Under this program, our financial professionals may receive compensation for referring clients to Greenwood Capital or to affiliated entities, such as Countybank and its subsidiaries, including trust, mortgage, and insurance services. These arrangements create a conflict of interest because of the incentive to make referrals for compensation; however, you are under no obligation to act on any referral or recommendation. (See Form ADV 2A: Item 14)

Do you or your Financial Professionals have a legal or disciplinary history?

No. Neither Greenwood Capital nor its financial professionals have any disciplinary history. You may visit www.Investor.gov/CRS for a free and simple search tool to research Greenwood Capital and our financial professionals.

Conversation Starters

• As a financial professional, do you have any disciplinary history?
• If so, for what type of conduct?

Where can I get additional information?

Visit www.GreenwoodCapital.com where you may view the Client Relationship Summary, our Annual Firm Disclosure Document (Form ADV 2A), individual disclosure documents for our financial professionals (Form 2B), and Privacy Notice. You may also contact us directly to request electronic or paper versions of these documents be sent to you.

• Toll Free: 877-369-5390 or Email: [email protected]
• Greenwood Direct: 864-941-4049 or Greenville Direct: 864-335-2425

Conversation Starters

• Who is my primary contact person?
• Is he or she a representative of an investment adviser or broker-dealer?
• Who can I talk to if I have concerns about how this person is treating me?

As a fiduciary, we are dedicated to providing advice in your best interest. We are happy to assist with any additional questions you may have and look forward to the opportunity to work with you on your financial and investment needs.