Firm Brochure (Parts 2A and 2B of Form ADV) Carson Advisory Group 470 Hill Street Athens, GA 30601 706-543-6578 706-543-6579 www.carsonadv.com This brochure provides information about the qualifications and business practices of Carson Advisory, Inc. doing business as Carson Advisory Group. If you have any questions about the contents of this brochure, please contact us at: 706-543-6578, or by email at: [email protected]. 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. Additional information about Carson Advisory Group is available on our website at http://www.carsonadv.com/ or on the SEC’s website at www.adviserinfo.sec.gov. 10/28/2020 Carson Advisory Group MATERIAL CHANGES Annual Update The Material Changes section of this brochure will be updated annually when material changes occur since the previous release of the Firm Brochure. Material Changes since the Last Annual Update of 03/30/2020 Although they are not material, clarifications were made to the Fees and Compensation and Account Minimums sections, specifically relating to the Ambassador wrap-fee program, Other Financial Industry Activities and Affiliations section regarding the location of our email records, and Brochure Supplement section. James L. Gillis, IV is no longer with our Firm and this brochure is being amended to remove his Brochure Supplement. We have added Daniel Mosseri’s Brochure Supplement, as he is a new IAR. Full Brochure Available A complete copy of our Firm Brochure is available at our office or on our website: http://www.carsonadv.com/. i Carson Advisory Group Table of Contents MATERIAL CHANGES .................................................................................................... i Annual Update ............................................................................................................ i Material Changes since the Last Annual Update of 03/30/2020 ................................. i ADVISORY BUSINESS .................................................................................................. 1 Firm Description ......................................................................................................... 1 Principal Owners ........................................................................................................ 1 Types of Advisory Services ........................................................................................ 1 Tailored Relationships ............................................................................................... 2 Types of Services ...................................................................................................... 2 Advisory Service ........................................................................................................ 2 Asset Management .................................................................................................... 3 Retirement Plan Services .......................................................................................... 3 Financial Planning Service ......................................................................................... 4 FEES AND COMPENSATION ........................................................................................ 4 Description ................................................................................................................. 4 Advisory Service ........................................................................................................ 4 Fee Billing .................................................................................................................. 5 Past Due Accounts and Termination of Agreement ................................................. 10 Other Fees or Expenses .......................................................................................... 10 PERFORMANCE-BASED FEES AND SIDE-BY-SIDE MANAGEMENT ..................... 11 Sharing of Capital Gains .......................................................................................... 11 TYPES OF CLIENTS .................................................................................................... 11 Description ............................................................................................................... 11 Account Minimums ................................................................................................... 11 METHODS OF ANALYSIS, INVESTMENT STRATEGIES, & RISK OF LOSS ............ 11 Methods of Analysis ................................................................................................. 11 Investment Strategies .............................................................................................. 12 Risk of Loss ............................................................................................................. 12 DISCIPLINARY INFORMATION ................................................................................... 15 Legal and Disciplinary .............................................................................................. 15 TOC 1 Carson Advisory Group OTHER FINANCIAL INDUSTRY ACTIVITIES & AFFILIATIONS ................................ 15 Financial Industry Activities ...................................................................................... 15 Affiliations ................................................................................................................ 15 CODE OF ETHICS, PARTICIPATION OR INTEREST IN CLIENT TRANSACTIONS & PERSONAL TRADING ................................................................................................. 16 Code of Ethics.......................................................................................................... 16 Participation or Interest in Client Transactions ......................................................... 17 Personal Trading...................................................................................................... 17 BROKERAGE PRACTICES ......................................................................................... 18 Selecting Brokerage Firms and Best Execution ....................................................... 18 Soft Dollars .............................................................................................................. 20 Order Aggregation ................................................................................................... 20 REVIEW OF ACCOUNTS ............................................................................................. 20 Periodic Reviews ..................................................................................................... 20 Review Triggers ....................................................................................................... 20 Regular Reports ....................................................................................................... 20 CLIENT REFERRALS AND OTHER COMPENSATION .............................................. 21 Incoming Referrals ................................................................................................... 21 Referrals Out ........................................................................................................... 21 Reimbursement for Client Events or Training .......................................................... 21 Margin Interest and Securities Based Lending Programs ........................................ 21 CUSTODY ..................................................................................................................... 22 Account Statements ................................................................................................. 22 INVESTMENT DISCRETION ........................................................................................ 22 Discretionary Authority for Trading ........................................................................... 22 VOTING CLIENT SECURITIES .................................................................................... 22 Proxy Votes ............................................................................................................. 22 FINANCIAL INFORMATION ......................................................................................... 23 Financial Condition .................................................................................................. 23 BUSINESS CONTINUTIY PLAN .................................................................................. 23 General .................................................................................................................... 23 Disasters .................................................................................................................. 23 TOC 2 Carson Advisory Group Alternate Offices ...................................................................................................... 23 Loss of Key Personnel ............................................................................................. 24 INFORMATION SECURITY PROGRAM ...................................................................... 24 Information Security ................................................................................................. 24 Privacy Notice .......................................................................................................... 25 BROCHURE SUPPLEMENT .......................................................................................