COBBLESTONE CAPITAL ADVISORS, LLC

Part 2A of Form ADV: Firm Brochure Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Facsimile: (585) 218 -1111 E-mail: jsg@cobblestonecap.com Web Address: www.cobblestonecap.com 03/21/2025 SEC rules under the Investment Advisers Act require the adviser to deliver a brochure and one or more Brochure Supplements to each client that contains all the information required by Part 2 of Form ADV. This brochure provides information about the qualifications and business practices of Cobblestone Capital Advisors, LLC. (hereinafter “CCA” or “firm” or “we”). If you have any questions about the contents of this brochure, please contact us at (585) 473-3333 or at jsg@cobblestonecap.com. The information in this brochure has not been approved or verified by the United States Securities and Exchange Commission or by any state securities authority. Additional information about CCA is available on the SEC’s website at www.adviserinfo.sec.gov. You can search this site by a unique identifying number, known as a CRD number. The CRD number for CCA is 108023. Registration with the Securities and Exchange Commission does not imply any level of skill or training. 1  Item 2. Summary of Material Changes There have been no material changes since our last annual amendment filing dated March 21, 2024. 2  Item 3. Table of Contents Item Section 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. Cover Page Material Changes Table of Contents Advisory Business Fees and Compensation Performance-Based Fees and Side-by-Side Management Types of Clients Methods of Analysis, Investment Strategies and Risk of Loss Disciplinary Information Other Financial Industry Activities and Affiliations Code of Ethics, Participation or Interest in Client Transactions and Personal Trading Brokerage Practices Review of Accounts Client Referrals and Other Compensation Custody Investment Discretion Voting Client Securities Financial Information Page Number 1 2 3 4 7 10 11 11 13 13 13 15 18 19 20 20 20 21 3  Item 4. Advisory Business CCA is a fee-only SEC-registered investment adviser (SEC File Number 801-55482). Our principal place of business is located in Rochester, New York. Our firm has been in business since 1998. John T. DiPasquale, Member and Chief Executive Officer, Jason S. Garlock, Member and Chief Compliance Officer, and Christopher Mooney, Member and Managing Director – Business Development, are CCA’s Executive Officers. Discretionary assets under our firm’s management were $2,917,170,486 as of December 31, 2024. Non-discretionary assets under our firm’s management were $16,750,049 as of December 31, 2024. Our firm provides investment services to address a broad range of investor needs. These services fall into several general categories: Portfolio Management Services Our firm manages individually tailored investment portfolios for clients. We provide continuous advice regarding the investment of client funds based on the individual needs of the client. Through personal discussions in which goals and objectives based on a client's particular circumstances are established, we develop a client's personal investment policy or individual investment plan and create and manage a portfolio based on that policy or plan. During our data- gathering process, we determine the client’s individual objectives, time horizons, risk tolerance, and liquidity needs. We may also review and discuss a client’s prior investment history, as well as family composition and background. We will manage advisory accounts on a discretionary or non-discretionary basis, as agreed with each client. For discretionary accounts, we will implement transactions without seeking prior client consent. However, clients may impose reasonable restrictions on investing in certain securities, types of securities, or industry sectors. For non-discretionary accounts, we will seek prior client consent for every contemplated transaction. Therefore, clients with non- discretionary accounts should understand that any delay in obtaining consent may result in less favorable transaction terms, including higher security price and/or higher commissions and/or limited availability of the securities sought. Account supervision is guided by the stated objectives of the client (i.e., very aggressive, aggressive, balanced, moderate, conservative, or stability of principal), as well as tax considerations. Clients may impose reasonable restrictions on investing in certain securities, types of securities, industry sectors, tax constraints or consultation preferences. Private Placement Management Services CCA serves as investment manager, in either advisory or sub-advisory capacity, to various private funds (collectively, “Funds”). 4  Interests in the Funds are offered in reliance upon various exemptions available under the securities laws for transactions in securities not involving a public offering. CCA manages the Funds on a discretionary basis in accordance with the terms and conditions of the Funds’ Private Placement Memoranda and organizational documents. Prospective investors in the Funds should be aware of additional risks, restrictions on withdrawals and redemptions and other important information associated with investment in the Funds. This information is outlined in the Funds’ Private Placement Memoranda and subscription documents. Prospective investors should refer to the Private Placement Memoranda and subscription documents for information regarding these important additional considerations and risk. Fund documents may impose reasonable restrictions on investing in certain securities, types of securities, or industry sectors. If diversification considerations allow, at CCA’s sole discretion, certain clients may be offered direct investment opportunities into underlying investments held by the Funds managed by CCA. Financial Planning Services Financial planning involves a comprehensive evaluation of a client’s current and future financial circumstances. Output may include projections of future cash flows and asset values based on various withdrawal plans, currently known variables, and reasonable assumptions. Additional financial planning services may include estate plan illustration and analysis, and consolidated investment, performance and tax reporting. Clients electing this service will receive continuous assistance in analyzing their relevant financial circumstances. In general, the financial plan may address any or all of the following areas of concern: • Personal: Family records, budgeting, personal liability, estate information and financial goals; • Tax & Cash Flow: Income tax and spending analysis and planning for past, current and future years. We will illustrate the impact of various investments on a client's current income tax and future tax liability; • Death & Disability: Cash needs at death, income needs of surviving dependents, estate planning and disability income analysis; • Retirement: Analysis of current strategies and investment plans to help the client achieve his or her retirement goals; • Investments: Analysis of investment alternatives and their effect on a client's portfolio; • Estate: Analysis of financial issues with respect to living trusts, wills, estate tax, powers of attorney, asset protection plans, nursing homes, Medicaid and elder law; and 5  • Insurance: Review of existing policies to ensure proper coverage for life, health, disability, long-term care, liability, home and automobile. We gather required information through in-depth personal interviews. Information gathered includes a client's current financial status, tax status, future goals, return objectives and attitudes towards risk. We carefully review documents supplied by the client. Except in unique client circumstances, we will only provide Financial Planning Services to those clients who elect our Portfolio Management Services and who meet our relevant account size minimums. Therefore, it is expected that clients will implement their securities-related financial planning recommendations through our firm. We will work closely with their attorney, accountant, insurance agent, and/or other professional. The implementation of any specific financial plan recommendations is entirely at the client's discretion. Family Office Services: For those clients who meet certain established account size minimums, our firm provides comprehensive Family Office services to high net worth individuals and families to assist them in achieving their goal of a lasting legacy for future generations. Family Office services are structured to offer an integrated, interdisciplinary approach to aggregating and focusing family resources and values to facilitate a common interest in asset protection, cost control, financial education, and family philanthropy, among others. Our Family Office services provide family- specific, custom solutions and relationship management and may include: • Portfolio Management and Financial Planning (as separately described above) • Simplified, consolidated reporting of account holdings and performance • Comprehensive Risk Management Consulting • Integration of Tax & Investment Strategies • Bill Paying Services • Philanthropy Planning/Charitable Giving • Family Retreats/Meetings • Facilitation of Inter-Generational/Inter-Family Communications and Mediation of Inter- Family Conflict Services in General Our advisory recommendations are not limited to any specific product or service offered by a broker dealer or insurance company and will primarily include advice regarding the following instruments: • Exchange-listed securities • Exchange traded funds (ETFs) • No-load and load-waived mutual funds • Corporate debt securities • Commercial paper • Certificates of deposit 6  • Municipal securities • United States government securities • Securities of foreign issuers • Private, illiquid real asset and income-oriented investments either directly or for the Funds We tailor our portfolio management and financial planning recommendations to the individual needs of each client. Such recommendations are tailored based on information gathered through electronic communications, telephone conversations, in-person discussions, and relevant fund documents. The firm may utilize a model managed approach for certain client portfolios to fulfill specific investment objectives when not constrained by tax circumstances or client preferences. ESG Investments: Socially Responsible Investing involves the incorporation of Environmental, Social and Governance (“ESG”) considerations into the investment due diligence process. There are potential limitations associated with allocating a portion of an investment portfolio in ESG securities. The number of these securities may be limited when compared to those that do not maintain such a mandate. ESG securities could underperform broad market indices. Investors must accept these limitations, including potential for underperformance. Correspondingly, the number of ESG mutual funds and Exchange Traded Funds (“ETFs”) are few when compared to those that do not maintain such a mandate. As with any type of investment (including any investment and/or investment strategies recommended and/or undertaken by CCA), there can be no assurance that investment in ESG securities or funds will be profitable or prove successful. CCA’s ESG security selection are typically limited to select Exchange Traded Funds (“ETFs”), mutual funds, or unaffiliated managers that are managed by unaffiliated third parties. As such, CCA has no direct control over the selection of investments within those ETFs, mutual funds or manager accounts and does not administer any positive or negative screens to assess the appropriateness of any individual securities bought or sold for the ETFs, mutual fund or manager account. Instead, CCA relies on the representations and screening processes of the third-party advisers responsible for managing each ETF, mutual fund or separate account. While CCA will conduct due diligence on each ETF’s, mutual fund’s and manager’s overall investment mandate and philosophy, CCA cannot guarantee that each security held within the ETF, mutual fund or account structure will align with the ESG objectives and restrictions expressed by its clients. Item 5. Fees and Compensation Portfolio Management Services We charge an annual fee for portfolio management services based on a percentage of assets under our management, in accordance with the following schedule: Annual Fee (%) Assets Under Management ($) $0 to $1,500,000 $1,500,001 and above 1.00% 0.75% 7  A few accounts are charged flat fees for periodic investment advice through consultations. Depending on the particular arrangement with each client, we will either invoice clients or directly debit their custodial accounts for portfolio management fees. Portfolio management fees are billed in advance at the beginning of each quarter, based upon the billable balance on the last day of the previous calendar quarter. Private Placement Management Services Fund management fees, carried interest and applicable expenses are outlined with specificity in each Fund’s relevant offering documents. Certain fund investors who are also advisory clients of CCA may invest in share classes that allow them to pay in accordance with their investment advisory fee schedules rather than non-client compensation of a differing share class. Certain Funds’ terms state that instead of a particular Fund paying expenses directly, it would pay CCA a fixed percentage quarterly fee and CCA would use proceeds from this fee to pay third-party vendors directly. Under such arrangements, potential conflicts of interest may arise between CCA and a Fund. There is incentive for CCA to contract with low-cost service providers on behalf of a Fund in order to limit the aggregate amount of its expense liabilities. If those low-cost vendors provide an inferior level of service compared to what was otherwise available to a Fund, the experience of investors and the performance of the Fund could suffer. Additionally, it is possible that such an arrangement will result in a Fund paying CCA more than the actual amount of expenses incurred. In this event, CCA is entitled to keep the difference to offset other indirect costs associated with administering this or other Funds. Consequently, one Fund may end up subsidizing expenses of another Fund under certain circumstances. Financial Planning Services/Family Office Services We generally do not charge any additional fees for these services from clients who have elected our firm for Portfolio Management Services. Family Office clients and Financial Planning clients must typically meet a minimum annual fee requirement. Fees in General Fees and account minimums for all services are negotiable based upon certain criteria (i.e. anticipated future earning capacity, anticipated future additional assets, dollar amount of assets to be managed, related accounts, account composition, negotiations with client, competitive considerations, client’s status as a CCA vendor or service provider, etc.). Discounts, not generally available to our advisory clients, may be offered to family members of CCA employees. CCA and/or the General Partner may elect to waive or reduce the management fee in whole or in part for any Limited Partner in a Fund. We may group certain related client accounts for the purposes of determining the account size and/or annualized fee. 8  Certain legacy client agreements may be governed by fee schedules different from those listed above. Under no circumstances will we require or solicit fees in excess of $1,200 for a period of more than six months in advance of services rendered. Account Termination Clients will have a period of five (5) business days from the date of signing the agreement to unconditionally rescind the agreement and receive a full refund of all fees. Thereafter, the client may terminate the agreement by providing us with a written notice at our principal place of business. Upon termination of any account, any prepaid, unearned fees will be promptly refunded, and any earned, unpaid fees will be due and payable. Clients should contact Jason S. Garlock, Member and Chief Compliance Officer, directly with any questions regarding refunds. Investors should refer to the Funds’ Private Placement Memoranda and relevant offering documents for a detailed account of termination and withdrawal provisions. Mutual Fund and ETF Fees and Expenses All fees paid to our firm for investment advisory services are separate and distinct from the fees and expenses charged by mutual funds and ETFs to their shareholders. These fees and expenses are described in each fund's prospectus. These fees will generally include a management fee, other fund expenses, and a possible distribution fee. A client could invest in a mutual fund or an ETF directly, without the services of our firm. In that case, the client would not receive the services provided by us which are designed, among other things, to assist the client in determining which mutual fund or funds or ETFs are most appropriate to each client's financial condition and objectives. Accordingly, the client should review both the fees charged by the funds and ETFs and the fees charged by us to fully understand the total amount of fees to be paid by the client and to thereby evaluate the advisory services being provided. Brokerage and Custodial Fees In addition to advisory fees paid to our firm, clients will also be responsible for all transaction, brokerage, trade-away and custodial fees incurred as part of their account management. Please see Item 12 of this Brochure for important disclosures regarding our brokerage practices. Cash and Margin Holdings: Unless agreed otherwise, any and all account asset classes, including cash positions, are included in the firm’s advisory fee calculation. At certain times our advisory fee may exceed the money market yield for cash assets. Depending on agreement with each client, accounts with utilized margin may be billed on the higher-margin value. This presents a potential conflict because we earn a higher fee and have a disincentive to advise clients to reduce or eliminate the margin balance. 9  Side Letters CCA or the General Partner may in the future, waive or modify the terms of investment for certain large or strategic investors in the Funds, in side letters or otherwise, in its sole discretion, including but not necessarily limited to, a waiver or lowering of Management Fees, a waiver or lowering of the Incentive Allocation, preferential redemption rights, “Key Man” event provisions, “Most Favored Nation” status and/or increased transparency or reporting. Additional Compensation Neither our firm nor any of our supervised persons receive compensation for the sale of securities or other investment products. Item 6. Performance-Based Fees and Side-By-Side Management As we disclosed in Item 5 of this Brochure, the Fund’s General Partner is entitled to a performance-based fee from the Fund. Such a performance-based fee is calculated based on a share of capital gains on or capital appreciation of the assets of the Fund. To qualify for a performance-based fee arrangement, a client (or Fund investor, as applicable) must meet the “qualified client” definition of Rule 205-3 of the Investment Advisers Act of 1940. Clients should be aware that a performance-based fee arrangement may create an incentive for us to recommend investments which may be riskier or more speculative than those which would be recommended under a different fee arrangement. Furthermore, since we also have clients who do not pay performance-based fees, we have an incentive to favor accounts that do pay such fees because compensation we or our related persons receive from these clients is more directly tied to the performance of their accounts. Certain CCA vendors and service providers have been, are currently and may in the future become advisory clients of CCA. CCA does currently and may in the future utilize the same vendors and/or service providers as CCA’s advisory clients, including private funds managed by CCA. As such, CCA may receive direct or indirect discounts or preferential treatment that is not extended by these vendors and/or service providers to CCA’s clients. Principals of certain private investments recommended to CCA’s clients or advised by CCA may also be or in the future become clients of CCA Since we endeavor at all times to put the interest of our clients first as part of our fiduciary duty as a registered investment adviser, we take the following steps to address these conflicts: 1. We disclose to clients the existence of all material conflicts of interest, including the potential for our firm and its employees to earn more compensation from advisory clients who pay performance-based fees; 10  2. We monitor any potential conflicts of interest on an ongoing basis in order to determine whether additional compensation or benefits received or contracted for have resulted in an actual conflict of interest that requires additional disclosure and/or mitigating actions; 3. We collect, maintain and document accurate, complete and relevant client background information, including the client’s financial goals, objectives and risk tolerance; 4. Our management conducts regular reviews of each client account to verify that all recommendations made to a client are suitable to the client’s needs and circumstances; 5. We have implemented policies and procedures for fair and consistent allocation of investment opportunities among all client accounts; 6. We periodically compare holdings and performance of all accounts with similar strategies to identify significant performance disparities indicative of possible favorable treatment; 7. We periodically review trading frequency and portfolio turnover rates to identify possible patterns of “window dressing,” “portfolio churning,” or any intent to manipulate trading to boost performance near the reporting period; and 8. We educate our employees regarding the responsibilities of a fiduciary, including the need for having a reasonable and independent basis for the investment advice provided to clients and equitable treatment of all clients, regardless of the fee arrangement or a relationship that results in additional benefits or compensation for CCA and/or its supervised persons. Item 7. Types of Clients Our firm generally provides advisory services to individuals, pension and profit-sharing plans, trusts, estates, charitable organizations, private funds, and corporations and other business entities. We normally impose a minimum account size of $500,000 for Portfolio Management Services. Certain comprehensive planning services are available to clients with $1,500,000 or more of assets under management. Investment minimums are stated in relevant offering documents for each Fund. Item 8. Methods of Analysis, Investment Strategies and Risk of Loss Our firm employs the following types of analysis to formulate client recommendations: Fundamental Analysis: Fundamental analysis of a business involves analyzing its income statement, financial statements and health, its management and competitive advantages, and its competitors and markets. Fundamental analysis school of thought maintains that markets may misprice a security in the short run but that the "correct" price will eventually be reached. Profits 11  can be made by trading the mispriced security and then waiting for the market to recognize its "mistake" and re-price the security. We monitor the macroeconomic environment looking for undervalued asset classes and industries. However, fundamental analysis does not attempt to anticipate market movements. This presents a potential risk, as the price of a security can move up or down along with the overall market regardless of the economic and financial factors considered in evaluating the stock. Therefore, unforeseen market conditions and/or company developments may result in significant price fluctuations that can lead to investor losses. We attempt to identify securities which can compound value at an attractive rate over a full market cycle. Mutual fund and/or ETF analysis: We look at the experience and track record of the manager of the mutual fund or ETF in an attempt to determine if that manager has demonstrated an ability to invest successfully over a period of time and in different economic conditions, though positive past performance is not a pre-requisite for initial or continuing investment. We also look at the underlying assets in a mutual fund or ETF in an attempt to determine if there is significant overlap in the underlying investments held in other funds in the client’s portfolio. We also monitor the funds or ETFs in an attempt to determine if they are continuing to follow their stated investment strategy. A risk of mutual fund and/or ETF analysis is that, as in all securities investments, past performance does not guarantee future results. A manager who has been successful in the past may not be able to replicate that success in the future. In addition, as we do not control the underlying investments in a fund or ETF, managers of different funds held by the client may purchase the same security, increasing the risk to the client if that security were to fall in value. There is also a risk that a manager may deviate from the stated investment mandate or strategy of the fund or ETF, which could make the fund or ETF less suitable of the client’s portfolio. Risks for all forms of analysis: Our securities analysis method relies on the assumption that the companies whose securities we purchase and sell, the rating agencies that review these securities, and other publicly-available sources of information about these securities, are providing accurate and unbiased data. While we are alert to indications that data may be incorrect, there is always a risk that our analysis may be compromised by inaccurate or misleading information. Our firm employs the following investment strategies to implement investment advice given to clients: Long-term purchases: We mostly purchase securities with the idea of holding them in client accounts for a year or longer. We may do this because we believe the securities to be currently undervalued. We may do this because we want exposure to a particular asset class over time, regardless of the current projection for this class. A risk in a long-term purchase strategy is that, by holding the security for this length of time, we may not take advantages of short-term gains that could be profitable to a client. Moreover, if our predictions are incorrect, a security may decline sharply in value before we make the decision to sell. 12  Short-term purchases: At times, we may also purchase securities with the idea of selling them within a relatively short time (typically a year or less). We do this in an attempt to take advantage of conditions that we believe will soon result in a price swing in the securities we purchase. A risk in a short-term purchase strategy is that, should the anticipated price swing not materialize, we are left with the option of having a long-term investment in a security that was designed to be a short-term purchase, or potentially taking a loss. In addition, this strategy involves more frequent trading than does a longer-term strategy and will result in increased brokerage and other transaction-related costs, as well as less favorable tax treatment of short- term capital gains. This type of investment is not a primary part of Cobblestone’s strategy. Clients should understand that investing in any securities, including mutual funds and private placements, involves a risk of loss of both income and principal that a client should be prepared to bear. Further, in certain circumstances the liquidity of some specific investments made by Cobblestone may be delayed. This means that clients need to be prepared to accept limited liquidity on a portion of the portfolio unless they opt out of this type of investment. Item 9. Disciplinary Information Our firm has no reportable disciplinary events to disclose. Item 10. Other Financial Industry Activities and Affiliations General Partners, Carried Interest Partners and/or other entities created to oversee the Funds may be related to CCA by virtue of common ownership and/or control, thus creating a financial incentive for us to recommend investment into the Funds to other advisory clients. Since we endeavor at all times to put the interest of our clients first as part of our fiduciary duty as a registered investment adviser, we take the following steps to address these conflicts: 1. We disclose to clients the existence of all material conflicts of interest, including the potential for our firm and/or its related persons to earn more compensation from advisory clients who pay performance-based fees; 2. We ensure that each limited partner is a qualified client and an accredited investor (or a qualified purchaser, as dictated by the requirements of the specific investments); and 3. Our management conducts regular reviews of the Funds’ accounts to verify that all recommendations made are suitable. Item 11. Code of Ethics, Participation in Client Transactions and Personal Trading Code of Ethics Disclosure Our firm has adopted a Code of Ethics which sets forth high ethical standards of business conduct that we require of our employees, including compliance with applicable federal securities laws. Our Code of Ethics includes policies and procedures for the review of quarterly 13  securities transactions reports as well as initial and annual securities holdings reports that must be submitted by the firm’s access persons. Among other things, our Code of Ethics also requires the prior approval of any acquisition of securities in a limited offering (e.g., private placement) or an initial public offering. Our code provides for oversight, enforcement and recordkeeping provisions. A copy of our Code of Ethics is available to our advisory clients and prospective clients upon request to Jason S. Garlock, Member and Chief Compliance Officer, at the firm’s principal office address. Our firm or individuals associated with our firm may buy or sell securities identical to those recommended to or purchased for customers for their personal accounts. In addition, any related person(s) may have an interest or position in a certain security(ies) which may also be recommended to a client. This practice results in a potential conflict of interest, as we may have an incentive to manipulate the timing of such purchases to obtain a better price or more favorable allocation in rare cases of limited availability. As these situations represent a conflict of interest, we have established the following restrictions in order to ensure its fiduciary responsibilities: 1. No principal or employee of our firm may buy or sell securities for their personal portfolio(s) where their decision is substantially derived, in whole or in part, by reason of his or her employment unless the information is also available to the investing public on reasonable inquiry. No principal or employee of our firm may prefer his or her own interest to that of the advisory client; 2. It is the expressed policy of our firm that no person employed by us may purchase or sell any security placed on the firm’s restricted list prior to a transaction(s) being implemented for an advisory account unless such a transaction is expressly permitted following a pre-clearance request or such pre-clearance is determined to be non- applicable based on the circumstances of the transaction in the sole discretion of the Chief Compliance Officer, and therefore, preventing such employees from benefiting from transactions placed on behalf of advisory accounts; 3. In cases of partial fills, client trades receive first priority; 4. We maintain a list of all securities holdings for our firm and anyone associated with this advisory practice with access to advisory recommendations; 5. All of our principals and employees must act in accordance with all applicable Federal and State regulations governing registered investment advisory practices; and 6. Any individual not in observance of the above may be subject to disciplinary action or termination. Pursuant to recent Department of Labor regulations, CCA is required to acknowledge in writing its fiduciary status under Section 3(21) of the Employee Retirement Income Security Act of 14  1974, as amended (“ERISA”) and Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”), as applicable. When CCA provides investment advice to you regarding your retirement plan account or individual retirement account, it is a fiduciary within the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. The way CCA makes money could create some potential conflicts with your interests, so CCA operates under a special rule that requires it to act in your best interest and not put its interests ahead of yours. Asset Roll-Over Disclosure: Consistent with this fiduciary duty, CCA is required to disclose applicable potential conflicts of interest associated with its rollover recommendations. CCA’s rollover recommendations create a potential conflict of interest if CCA will earn a new (or increase its current) advisory fee on the rolled over assets. Please see Item 5 of Form ADV Part 2A for further information regarding CCA’s services, fees, and other conflicts of interest. Clients and prospective clients considering a rollover from a qualified employer sponsored workplace retirement plan (“Employer Retirement Plan”) to an Individual Retirement Account (“IRA”), or from an IRA to another IRA, are encouraged to consider and to investigate the advantages and disadvantages of an IRA rollover from their existing plan or IRA, including, but not limited to, factors such as management expenses, transaction expenses, custodial expenses and available investment options. Some potential alternatives to a rollover may include: • Leaving the money in your former Employer Retirement Plan, if permitted; • Rolling over the assets to your employer’s plan, if one is available and if rollovers are permitted; • Rolling over Employer Retirement Plan assets into an IRA Item 12. Brokerage Practices We endeavor to select those brokers or dealers which will provide the best services at the lowest prices and commission rates possible. The reasonableness of commissions is based on the broker's ability to provide expert execution skills, professional services, competitive commission rates, research, timeliness and track record of profitable investment ideas, portfolio strategies, forecasts and other services which will help us in providing investment management services to clients. Absent other considerations, we will typically execute client equity trades through their selected custodian due to high trade-away fees. Trades with custodians capable of receiving electronic feeds will typically be executed first. 15  Directed Brokerage If a client, when undertaking an advisory relationship with our firm, already has a pre-established relationship with a broker and instructs us to execute all transactions through that broker, it should be understood that under those circumstances, we will not have the authority to negotiate commissions, obtain volume discounts and best execution may not be achieved. In addition, under these circumstances a disparity in commission charges may exist between the commissions charged to other clients since our firm may not be able to aggregate orders to reduce transaction costs or the client may receive less favorable prices. We reserve the right to decline acceptance of any client account for which the client directs the use of a broker if we believe that this choice would hinder its fiduciary duty to the client and/or its ability to service the account. CCA does not maintain custody of your assets that we manage/on which we advise (although we may be deemed to have custody of your assets due to certain arrangements (see Item 15 Custody, below). Your assets must be maintained in an account at a “qualified custodian,” generally a broker-dealer or bank. We may recommend that our clients use Charles Schwab & Co., Inc. (Schwab), a FINRA-registered broker-dealer, member SIPC, as the qualified custodian. We are independently owned and operated and not affiliated with Schwab. Schwab will hold your assets in a brokerage account and buy and sell securities when we/you instruct them to. While we recommend that you use Schwab as custodian/broker, you will decide whether to do so and open your account with Schwab by entering into an account agreement directly with them. We do not open the account for you, though we may help facilitate the process. How We Select Brokers/Custodians to Recommend We seek to recommend a custodian/broker who will hold your assets and execute transactions on terms that are overall most advantageous when compared to other available providers and their services. We consider a wide range of factors, including, among others, these: • combination of transaction execution services along with asset custody services (generally without a separate fee for custody) • capability to execute, clear and settle trades (buy and sell securities for your account) • capabilities to facilitate transfers and payments to and from accounts (wire transfers, check requests, bill payment, etc.) • breadth of investment products made available (stocks, bonds, mutual funds, exchange traded funds (ETFs), etc.) • quality of services • competitiveness of the price of those services (commission rates, margin interest rates, other fees, etc.) and willingness to negotiate them Products and Services Available to Us from Schwab Schwab Advisor Services (formerly called Schwab Institutional) is Schwab’s business serving independent investment advisory firms like us. They provide us and our clients with access to its institutional brokerage – trading, custody, reporting and related services – many of which are not 16  typically available to Schwab retail customers. Schwab also makes available various support services. Some of those services help us manage or administer our clients’ accounts while others help us manage and grow our business. Here is a more detailed description of Schwab’s support services: • Services that Benefit You. Schwab’s institutional brokerage services include access to a broad range of investment products, execution of securities transactions, and custody of client assets. The investment products available through Schwab include some to which we might not otherwise have access or that would require a significantly higher minimum initial investment by our clients. Schwab’s services described in this paragraph generally benefit you and your account. • Services that May Not Directly Benefit You. Schwab also makes available to us other products and services that benefit us but may not directly benefit you or your account. These products and services assist us in managing and administering our clients’ accounts. They include investment research, both Schwab’s own and that of third parties. We may use this research to service all or some substantial number of our clients’ accounts, including accounts not maintained at Schwab. In addition to investment research, Schwab also makes available software and other technology that: o provide access to client account data (such as duplicate trade confirmations and account statements); o facilitate trade execution and allocate aggregated trade orders for multiple client accounts; o provide pricing and other market data; o facilitate payment of our fees from our clients’ accounts; and o assist with back-office functions, recordkeeping and client reporting. • Services that Generally Benefit Only Us. Schwab also offers other services intended to help us manage and further develop our business enterprise. These services include: technology, compliance, legal, and business consulting; o educational conferences and events o o publications and conferences on practice management and business succession; and o access to employee benefits providers, business management consultants and insurance providers. Trade Aggregation We typically aggregate client trades when doing so is advantageous to our clients. Mostly, we will batch client transactions to obtain better and more uniform pricing across client accounts. If we determine that aggregation of trades in a certain situation will be beneficial to our clients, transactions will be averaged as to price and will be allocated to each account that participates in the block trade. If an aggregated or block order cannot be executed in full at the same price or time, the securities actually purchased or sold by the close of each business day will be allocated in a manner that is consistent with the initial pre-allocation. This must be done in a way that does not consistently advantage or disadvantage particular client accounts. The trading desk shall allocate a partial fill using a random fill process where it is deemed to be fair and equitable. Partial fill private 17  placement opportunities will be typically allocated pro rata based on the initial amount desired and communicated to us by each interested client or prospective client. Prospective clients may receive less than a pro rata amount if we decide to fill existing client accounts first or decide to allocate higher amounts to existing client accounts. Any exceptions from the random allocation procedure will be carefully explained and documented. Item 13. Review of Accounts Portfolio Management Services/Private Placement Management Services/Family Office Services The following individuals are responsible for reviewing client accounts and directing the execution of securities transactions: • John DiPasquale, Member and Chief Executive Officer • Jason Garlock, Member and Chief Compliance Officer/Chief Investment Officer • Thomas Bartlett, Member • Peter Greaves-Tunnell, Member • Eric Furnal, Member • Jordan Millner, Portfolio Manager and Head of Global Equities • Colin Desrosiers, Head of Client Portfolio Management • Charles Ruff, Head of Investment Strategy and Communications • Madeleine Ottman, Portfolio Manager • Zachary Mullally, Portfolio Manager • Thomas Bolt, Portfolio Management Associate The above-listed individuals will continuously monitor the underlying securities within these accounts and perform at least quarterly formal account reviews. Accounts are reviewed for consistency with client investment strategy, asset allocation, risk tolerance and performance relative to the appropriate benchmark. More frequent reviews may be triggered by changes in an account holder’s personal, tax or financial status. Firm-wide strategy shifts and significant political and macroeconomic events may also trigger reviews. In addition to the monthly/quarterly statements and confirmations of transactions that clients receive from their broker dealer and/or custodian(s), we will provide quarterly reports summarizing account balances and holdings and at least annual reports detailing account performance and relevant investment characteristics. Limited Partners in the Funds will receive: • unaudited performance information at least quarterly, as soon as practicable after the end of each fiscal quarter; • annual audited financial statements relating to the Fund, as soon as practicable after the end of each fiscal year and no later than 120 days or 180 days for funds of funds, as applicable, after the end of each fiscal year; • audited financial statements relating to the Fund, as soon as practicable upon the completion of the winding-up of the Fund; and 18  • annual information necessary for completion of federal income tax returns. Financial Planning Services We will provide Financial Planning clients with relevant financial analysis. We will not typically provide any periodic or on-going reviews or additional reports unless otherwise specified at the inception of the advisory relationship. Item 14. Client Referrals and Other Compensation We receive an economic benefit from certain custodians/brokers in the form of the support products and services they make available to us and other independent investment advisors that have their clients maintain accounts with those custodians/brokers. These products and services, how they benefit us, and the related conflicts of interest are described above (see Item 12 – Brokerage Practices). The availability to us of these products and services is not based on us giving particular investment advice, such as buying particular securities for our clients. Our firm does not receive any additional compensation from third parties for providing investment advice to its clients. Although we have in the past and may have in the future, we do not currently have any active solicitation or promotional agreements with third parties. We do currently pay referral fees to some employees, for referring advisory clients to our firm. If a client is introduced to us by a solicitor or a promoter, we may pay that solicitor or promoter an ongoing referral fee constituting a percentage of the referred client’s advisory fee paid to our firm for the duration of the advisory relationship. Compensation for prospective client referrals or other promotional activities creates a potential conflict of interest to the extent that such a referral or promotion is not unbiased and the solicitor or promoter is, at least partially, motivated by financial gain. As these situations represent a potential conflict of interest, we have established the following restrictions in order to ensure our fiduciary responsibilities: 1. All such referral fees or other compensation for promotional activities are paid in accordance with the requirements of Rule 206(4)-1 of the Investment Advisers Act of 1940, and any corresponding state securities law requirements; 2. Any such referral fee or other compensation will be paid solely from our investment management fee, and will not result in any additional charge to the client; 3. Any solicitor or promoter, at the time of the solicitation or other promotional activity, will disclose the nature of his/her/its solicitor or promoter relationship and provide each prospective client with a written or oral disclosure statement from the solicitor or promoter to the client disclosing the terms of the solicitation or promotional arrangement between our firm and the solicitor or promoter, including the compensation to be received by the solicitor or promoter from us; and 4. All referred clients will be carefully screened to ensure that our fees, services, and investment strategies are suitable to their investment needs and objectives. 19  Item 15. Custody Custody is defined as any legal or actual ability by our firm to access client funds or securities. Since all client funds and securities (other than certain private uncertificated security interests) are maintained with a qualified custodian, we don’t take physical possession of client assets. However, under the current SEC rules, our firm is deemed to have constructive custody of client assets due to various arrangements which give us legal access to client funds. Therefore, we urge all of our management clients to carefully review and compare their quarterly reviews of account holdings and/or performance results received from us to those they receive from their custodian. Should you notice any discrepancies, please notify us and/or your custodian as soon as possible. Item 16. Investment Discretion For clients granting us discretionary authority to determine which securities and the amounts of securities that are to be bought or sold for their account(s), we request that such authority be granted in writing, typically in the executed advisory agreement and/or relevant fund organizational documents. Should the client wish to impose reasonable limitations on this discretionary authority, such limitations shall be included in this written authority statement. Clients may change/amend these limitations as desired. Such amendments must be submitted to us by the client in writing. Item 17. Voting Client Securities Advisory clients may elect to delegate their proxy voting authority to us. Alternatively, clients may, at their election, choose to receive proxies related to their own accounts, in which case we may consult with clients as requested. (With respect to ERISA accounts, we will vote proxies unless the plan documents specifically reserve the plan sponsor’s right to vote proxies.) Clients may direct us as to how a particular proxy should be voted. When we have discretion to vote proxies for our clients, we will vote those proxies in the best interests of its clients and in accordance with our established policies and procedures. Our firm will retain all proxy voting books and records for the requisite period of time, including a copy of each proxy statement received, a record of each vote cast, a copy of any document created by us that was material to making a decision how to vote proxies, and a copy of each written client request for information on how the adviser voted proxies. If our firm has a conflict of interest in voting a particular action, we will notify the client of the conflict and retain an independent third- party to cast a vote. Clients may obtain a copy of our complete proxy voting policies and procedures by contacting Jason S. Garlock directly. Clients may request, in writing, information on how proxies for his/her shares were voted. If any client requests a copy of our complete proxy policies and procedures or how we voted proxies for his/her account(s), we will promptly provide such information to the client. 20  We advise clients in legal proceedings involving companies whose securities are held in the client’s account(s), by utilizing a third-party vendor which retains a portion of any proceeds recovered. Item 18. Financial Information Under no circumstances will we earn fees in excess of $1,200 for a period of more than six months in advance of services rendered, and therefore we have no obligation to disclose our firm financials as part of this Brochure. Our firm has no financial condition that impairs our ability to meet our contractual obligations to you and has never been the subject of a bankruptcy proceeding. 21  Part 2B of Form ADV: Brochure Supplement Jason S. Garlock 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Jason S. Garlock that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Jason S. Garlock is available on the SEC’s website at www.adviserinfo.sec.gov. 22  Item 2. Educational Background and Business Experience Jason S. Garlock, CFA Year of Birth: 1975 Education: Mr. Garlock graduated from Cornell University College of Engineering with a B.S. degree in Civil and Environmental Engineering in 1997 and from Rutgers University with a Master of Science in Civil and Environmental Engineering in 2001. Business Background: Member, Managing Director, Chief Investment Officer and Chief Compliance Officer, Cobblestone Capital Advisors, LLC from 2001 to present Environmental Engineer, Camp Dresser & McKee, Inc. from 04/1999 to 06/2001 Professional Designations: Mr. Garlock earned the Chartered Financial Analyst (CFA) designation in 2003. The CFA designation is an international professional certification offered by the CFA Institute (formerly AIMR) to financial analysts who complete a series of three examinations. To become a CFA charterholder candidates must pass each of three exams, possess a bachelor's degree (or equivalent, as assessed by CFA institute) and have 48 months of qualified, professional work experience. CFA charterholders are also obligated to adhere to a strict Code of Ethics and Standards governing their professional conduct. Item 3. Disciplinary Information Mr. Garlock does not have any history of reportable disciplinary events. Item 4. Other Business Activities Mr. Garlock is not involved in any outside business activities. Item 5. Additional Compensation Mr. Garlock does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 23  Part 2B of Form ADV: Brochure Supplement John T. DiPasquale 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about John T. DiPasquale that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about John T. DiPasquale is available on the SEC’s website at www.adviserinfo.sec.gov. 24  Item 2. Educational Background and Business Experience John T. DiPasquale Year of Birth: 1966 Education: Mr. DiPasquale graduated from Georgetown University with a B.A. degree in Economics. Business Background: Member and Chief Executive Officer, Cobblestone Capital Advisors, LLC from 03/1999 to present Investment Adviser, Salomon Smith Barney from 01/1994 to 03/1999 Item 3. Disciplinary Information Mr. DiPasquale does not have any history of reportable disciplinary events. Item 4. Other Business Activities Mr. DiPasquale is not involved in any outside business activities. Item 5. Additional Compensation Mr. DiPasquale does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 25  Part 2B of Form ADV: Brochure Supplement Christopher M. Mooney 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Christopher M. Mooney that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Christopher M. Mooney is available on the SEC’s website at www.adviserinfo.sec.gov. 26  Item 2. Educational Background and Business Experience Christopher M. Mooney Year of Birth: 1971 Education: Mr. Mooney graduated from St. John Fisher College with a B.A. in Business Finance. Business Background: Member, Managing Director – Business Development, and Relationship Manager, Cobblestone Capital Advisors, LLC from 06/2004 to present Item 3. Disciplinary Information Mr. Mooney does not have any history of reportable disciplinary events. Item 4. Other Business Activities Mr. Mooney is not involved in any outside business activities. Item 5. Additional Compensation Mr. Mooney does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 27  Part 2B of Form ADV: Brochure Supplement Thomas M. Bartlett 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Thomas M. Bartlett that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Thomas M. Bartlett is available on the SEC’s website at www.adviserinfo.sec.gov. 28  Item 2. Educational Background and Business Experience Thomas M. Bartlett, CFA Year of Birth: 1959 Education: Mr. Bartlett graduated from Washington & Lee University with a B.A. degree in History. Business Background: Member and Investment Adviser, Cobblestone Capital Advisors, LLC from 03/1998 to present Principal, Goodwin, Bartlett & Greaves-Tunnell Capital Management from 08/1991 to 03/1998 Professional Designations: Mr. Bartlett earned the Chartered Financial Analyst (CFA) designation in 1989. The CFA designation is an international professional certification offered by the CFA Institute (formerly AIMR) to financial analysts who complete a series of three examinations. To become a CFA charterholder candidates must pass each of three exams, possess a bachelor's degree (or equivalent, as assessed by CFA institute) and have 48 months of qualified, professional work experience. CFA charterholders are also obligated to adhere to a strict Code of Ethics and Standards governing their professional conduct. Item 3. Disciplinary Information Mr. Bartlett does not have any history of reportable disciplinary events. Item 4. Other Business Activities Mr. Bartlett is not involved in any outside business activities. Item 5. Additional Compensation Mr. Bartlett does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 29  Part 2B of Form ADV: Brochure Supplement Thomas E. Bolt 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Thomas E. Bolt that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Thomas E. Bolt is available on the SEC’s website at www.adviserinfo.sec.gov 30  Item 2. Educational Background and Business Experience Thomas E. Bolt Year of Birth: 1999 Education: Mr. Bolt graduated from University of Pittsburgh with a B.S. degree in Statistics and Economics in 2022. Business Background: Portfolio Management Associate, Cobblestone Capital Advisors, LLC beginning December 2022 Item 3. Disciplinary Information Mr. Bolt does not have any history of reportable disciplinary events. Item 4. Other Business Activities Mr. Bolt is not involved in any outside business activities. Item 5. Additional Compensation Mr. Bolt does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 31  Part 2B of Form ADV: Brochure Supplement Gabriel K. Chodak 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Gabriel K. Chodak that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Gabriel K. Chodak is available on the SEC’s website at www.adviserinfo.sec.gov. 32  Item 2. Educational Background and Business Experience Gabriel K. Chodak Year of Birth: 1985 Education: Mr. Chodak graduated from the University of Rochester with a B.A. degree in History. Mr. Chodak received an M.S. degree in Teaching and Curriculum (Social Studies) from the Warner School of Education at the University of Rochester. Mr. Chodak also received an MBA in Competitive Strategy from the Simon School of Business at the University of Rochester. Business Background: Senior Relationship Manager, Cobblestone Capital Advisors, LLC beginning August 2017 Item 3. Disciplinary Information Mr. Chodak does not have any history of reportable disciplinary events. Item 4. Other Business Activities Mr. Chodak is not involved in any outside business activities. Item 5. Additional Compensation Mr. Chodak does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 33  Part 2B of Form ADV: Brochure Supplement Rachel K. Coia 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Rachel K. Coia that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Rachel K. Coia is available on the SEC’s website at www.adviserinfo.sec.gov 34  Item 2. Educational Background and Business Experience Rachel K. Coia Year of Birth: 1995 Education: Ms. Coia graduated from Canisius University with a B.S. degree in Finance in 2017. Business Background: Wealth Planner, Cobblestone Capital Advisors, LLC beginning October 2024 Junior Financial Advisor, Jensen, Marks, Langer & Vance, LLC January 2021 – September 2024 Item 3. Disciplinary Information Ms. Coia does not have any history of reportable disciplinary events. Item 4. Other Business Activities Ms. Coia is not involved in any outside business activities. Item 5. Additional Compensation Ms. Coia does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 35  Part 2B of Form ADV: Brochure Supplement Jesse N. Cramer 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Jesse N. Cramer that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Jesse N. Cramer is available on the SEC’s website at www.adviserinfo.sec.gov. 36  Item 2. Educational Background and Business Experience Jesse N. Cramer Year of Birth: 1990 Education: Mr. Cramer graduated from the University of Rochester with a B.S. degree in Mechanical Engineering in 2012. Additionally, he graduated from the University of Rochester with an M.S. degree in Mechanical Engineering in 2014. Business Background: Relationship Manager, Cobblestone Capital Advisors, LLC beginning January 2022 Item 3. Disciplinary Information Mr. Cramer does not have any history of reportable disciplinary events. Item 4. Other Business Activities Mr. Cramer is the Founder and Owner of The Best Interest, LLC, a blog containing personal finance and investment-related content. Item 5. Additional Compensation Mr. Cramer does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 37  Part 2B of Form ADV: Brochure Supplement Colin J. Desrosiers 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Colin J. Desrosiers that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Colin J. Desrosiers is available on the SEC’s website at www.adviserinfo.sec.gov. 38  Item 2. Educational Background and Business Experience Colin J. Desrosiers Year of Birth: 1989 Education: Mr. Desrosiers graduated from the University of Rochester with a B.S. degree in Biochemistry in 2012. Additionally, he graduated from the Simon Business School at the University of Rochester with an MBA in Finance & Competitive and Organizational Strategy in 2014. Business Background: Head of Client Portfolio Management, Cobblestone Capital Advisors, LLC beginning September 2014 Loan Processor, Liberty Home Funding, LLC May 2012 to May 2013 Professional Designations: Mr. Desrosiers obtained his CFP® certification in 2021. The CFP® certification is a professional certification mark for financial planners conferred by the Certified Financial Planner Board of Standards, Inc. (CFP Board) in the United States. To receive authorization to use the designation, the candidate must meet education, examination, experience and ethics requirements, and pay an ongoing certification fee. To fulfill the education requirement, students are required to complete course training in various topic areas and sit for the six-hour CFP Board Certification Examination. A bachelor's degree (or higher), or its equivalent in any discipline, from an accredited college or university is required to attain CFP® certification. Item 3. Disciplinary Information Mr. Desrosiers does not have any history of reportable disciplinary events. Item 4. Other Business Activities Mr. Desrosiers is not involved in any outside business activities. Item 5. Additional Compensation Mr. Desrosiers does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 39  Part 2B of Form ADV: Brochure Supplement Gina L. DiMonda 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Gina L. DiMonda that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Gina L. DiMonda is available on the SEC’s website at www.adviserinfo.sec.gov. 40  Item 2. Educational Background and Business Experience Gina L. DiMonda Year of Birth: 1968 Education: Ms. DiMonda graduated from the State University of New York, College at Brockport with a B.S. degree in Criminal Justice. Business Background: Senior Relationship Manager, Cobblestone Capital Advisors, LLC beginning February 2020 President, ESL Federal Credit Union Trust Services – 03/2015-10/2019 Vice President, First Niagara Bank – 03/2011-03/2015 Vice President, JP Morgan Chase Bank – 01/2003-03/2011 Professional Designations: Ms. DiMonda earned her Accredited Estate Planner (AEP®) designation in 2018 from the National Association of Estate Planners & Councils. The AEP® designation is a graduate level specialization in estate planning, obtained in addition to already recognized professional credentials within the various disciplines of estate planning. Estate planning professionals need to meet stringent requirements of experience, knowledge, education, professional reputation and character to obtain this designation. Ms. DiMonda obtained her CFP® certification in 2003. The CFP® certification is a professional certification mark for financial planners conferred by the Certified Financial Planner Board of Standards, Inc. (CFP Board) in the United States. To receive authorization to use the designation, the candidate must meet education, examination, experience and ethics requirements, and pay an ongoing certification fee. To fulfill the education requirement, students are required to complete course training in various topic areas and sit for the six-hour CFP Board Certification Examination. A bachelor's degree (or higher), or its equivalent in any discipline, from an accredited college or university is required to attain CFP® certification. Ms. DiMonda earned the Certified Trust and Fiduciary Advisor (CTFA) designation from the American Bankers Association (ABA) in 2001. The CTFA designation demonstrates expertise in the trust and financial advisor field. To receive the CTFA designation, candidates must have a minimum level of wealth management work experience and approved training programs. Applicants are also required to pass an examination successfully. Continuing education is needed to maintain the CTFA designation. Item 3. Disciplinary Information Ms. DiMonda does not have any history of reportable disciplinary events. 41  Item 4. Other Business Activities Ms. DiMonda is not involved in any outside business activities. Item 5. Additional Compensation Ms. DiMonda does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 42  Part 2B of Form ADV: Brochure Supplement James J. Eckl 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about James J. Eckl that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about James J. Eckl is available on the SEC’s website at www.adviserinfo.sec.gov. 43  Item 2. Educational Background and Business Experience James J. Eckl Year of Birth: 1961 Education: Mr. Eckl graduated from St. Bonaventure University with a B.B.A. degree in Accounting and from the University of Dayton School of Law with a J.D. in Law. Business Background: Member and Director of Wealth Management, Cobblestone Capital Advisors, LLC beginning June 1999 Item 3. Disciplinary Information Mr. Eckl does not have any history of reportable disciplinary events. Item 4. Other Business Activities Mr. Eckl is not involved in any outside business activities. Item 5. Additional Compensation Mr. Eckl does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 44  Part 2B of Form ADV: Brochure Supplement Eric S. Furnal 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Eric S. Furnal that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Eric S. Furnal is available on the SEC’s website at www.adviserinfo.sec.gov. 45  Item 2. Educational Background and Business Experience Eric S. Furnal, CFA Year of Birth: 1982 Education: Mr. Furnal graduated from Rochester Institute of Technology with a B.S. degree in Business Administration with a concentration in Finance in 2012. Business Background: Member and Director of Private Investments, Cobblestone Capital Advisors, LLC beginning February 2012 Professional Designations: Mr. Furnal earned the Chartered Financial Analyst (CFA) designation in 2016. The CFA designation is an international professional certification offered by the CFA Institute (formerly AIMR) to financial analysts who complete a series of three examinations. To become a CFA charterholder candidates must pass each of three exams, possess a bachelor's degree (or equivalent, as assessed by CFA institute) and have 48 months of qualified, professional work experience. CFA charterholders are also obligated to adhere to a strict Code of Ethics and Standards governing their professional conduct. Item 3. Disciplinary Information Mr. Furnal does not have any history of reportable disciplinary events. Item 4. Other Business Activities Mr. Furnal is not involved in any outside business activities. Item 5. Additional Compensation Mr. Furnal does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 46  Part 2B of Form ADV: Brochure Supplement Peter H. Greaves-Tunnell 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Peter H. Greaves-Tunnell that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Peter H. Greaves-Tunnell is available on the SEC’s website at www.adviserinfo.sec.gov. 47  Item 2. Educational Background and Business Experience Peter H. Greaves-Tunnell Year of Birth: 1959 Education: Mr. Greaves-Tunnell graduated from Lafayette College with a B.A. degree in English in 1981 and from the University of Rochester with an M.B.A. in Finance in 1983. Business Background: Owner and Consultant, Riverview Management, Inc. from 01/2021 to present Member and Investment Adviser, Cobblestone Capital Advisors, LLC from 03/1998 to present Principal, Goodwin, Bartlett & Greaves-Tunnell Capital Management from 08/1991 to 03/1998 Item 3. Disciplinary Information Mr. Greaves-Tunnell does not have any history of reportable disciplinary events. Item 4. Other Business Activities Mr. Greaves-Tunnell is not involved in any outside business activities. Item 5. Additional Compensation Mr. Greaves-Tunnell does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 48  Part 2B of Form ADV: Brochure Supplement Isabella F. Loughlin 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Isabella F. Loughlin that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Isabella F. Loughlin is available on the SEC’s website at www.adviserinfo.sec.gov. 49  Item 2. Educational Background and Business Experience Isabella F. Loughlin Year of Birth: 1995 Education: Ms. Loughlin graduated from Arizona State University with a B.S. degree in Criminal Justice in 2016. Business Background: Associate Relationship Manager, Cobblestone Capital Advisors, LLC beginning January 2024 Portfolio Advisor, Courier Capital, LLC from 05/2023 to 01/2024 Wealth Advisor, HNP Capital from 11/2019 to 05/2023 Financial Advisor Trainee, Bank of America, N.A. from 10/2018-11/2019 Item 3. Disciplinary Information Ms. Loughlin does not have any history of reportable disciplinary events. Item 4. Other Business Activities Ms. Loughlin is not involved in any outside business activities. Item 5. Additional Compensation Ms. Loughlin does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 50  Part 2B of Form ADV: Brochure Supplement Jordan M. Millner 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Jordan M. Millner that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Jordan M. Millner is available on the SEC’s website at www.adviserinfo.sec.gov. 51  Item 2. Educational Background and Business Experience Jordan M. Millner, CFA Year of Birth: 1987 Education: Mr. Millner graduated from Le Moyne College with a B.S. degree in Business Administration: Finance in 2009. Business Background: Portfolio Manager and Head of Global Equities, Cobblestone Capital Advisors, LLC beginning March 2010 Professional Designations: Mr. Millner earned the Chartered Financial Analyst (CFA) designation in 2015. The CFA designation is an international professional certification offered by the CFA Institute (formerly AIMR) to financial analysts who complete a series of three examinations. To become a CFA charterholder candidates must pass each of three exams, possess a bachelor's degree (or equivalent, as assessed by CFA institute) and have 48 months of qualified, professional work experience. CFA charterholders are also obligated to adhere to a strict Code of Ethics and Standards governing their professional conduct. Item 3. Disciplinary Information Mr. Millner does not have any history of reportable disciplinary events. Item 4. Other Business Activities Mr. Millner is an adjunct professor at St. John Fisher University. Item 5. Additional Compensation Mr. Millner does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 52  Part 2B of Form ADV: Brochure Supplement Zachary R. Mullally 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Zachary R. Mullally that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Zachary R. Mullally is available on the SEC’s website at www.adviserinfo.sec.gov. 53  Item 2. Educational Background and Business Experience Zachary R. Mullally Year of Birth: 1999 Education: Mr. Mullally graduated from Nazareth College with a B.S. degree in Finance with minors in Economics and Financial Planning in 2021. Business Background: Portfolio Manager, Cobblestone Capital Advisors, LLC beginning June 2021 Professional Designations: Mr. Mullally obtained his CFP® certification in 2023. The CFP® certification is a professional certification mark for financial planners conferred by the Certified Financial Planner Board of Standards, Inc. (CFP Board) in the United States. To receive authorization to use the designation, the candidate must meet education, examination, experience and ethics requirements, and pay an ongoing certification fee. To fulfill the education requirement, students are required to complete course training in various topic areas and sit for the six-hour CFP Board Certification Examination. A bachelor's degree (or higher), or its equivalent in any discipline, from an accredited college or university is required to attain CFP® certification. Item 3. Disciplinary Information Mr. Mullally does not have any history of reportable disciplinary events. Item 4. Other Business Activities Mr. Mullally is not involved in any outside business activities. Item 5. Additional Compensation Mr. Mullally does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 54  Part 2B of Form ADV: Brochure Supplement Elise M. Olivo 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Elise M. Olivo that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Elise M. Olivo is available on the SEC’s website at www.adviserinfo.sec.gov. 55  Item 2. Educational Background and Business Experience Elise M. Olivo Year of Birth: 1999 Education: Ms. Olivo graduated from St. John Fisher University with a B.S. degree in Business Management in 2021. Additionally, she graduated from St. John Fisher University with an M.B.A. in Business Management in 2022. Business Background: Wealth Planning Analyst, Cobblestone Capital Advisors, LLC beginning 03/2023 Item 3. Disciplinary Information Ms. Olivo does not have any history of reportable disciplinary events. Item 4. Other Business Activities Ms. Olivo is not involved in any outside business activities. Item 5. Additional Compensation Ms. Olivo does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 56  Part 2B of Form ADV: Brochure Supplement Madeleine D. Ottman 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Madeleine D. Ottman that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Madeleine D. Ottman is available on the SEC’s website at www.adviserinfo.sec.gov. 57  Item 2. Educational Background and Business Experience Madeleine D. Ottman, CFA Year of Birth: 1997 Education: Ms. Ottman graduated from Binghamton University with a B.A. degree in Mathematical Sciences in 2019. Additionally, she graduated from Binghamton University with an M.B.A. in Business Analytics and Supply Chain Management in 2020. Business Background: Portfolio Manager, Cobblestone Capital Advisors, LLC beginning August 2020 Professional Designations: Ms. Ottman earned the Chartered Financial Analyst (CFA) designation in 2024. The CFA designation is an international professional certification offered by the CFA Institute (formerly AIMR) to financial analysts who complete a series of three examinations. To become a CFA charterholder candidates must pass each of three exams, possess a bachelor's degree (or equivalent, as assessed by CFA institute) and have 48 months of qualified, professional work experience. CFA charterholders are also obligated to adhere to a strict Code of Ethics and Standards governing their professional conduct. Item 3. Disciplinary Information Ms. Ottman does not have any history of reportable disciplinary events. Item 4. Other Business Activities Ms. Ottman is not involved in any outside business activities. Item 5. Additional Compensation Ms. Ottman does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 58  Part 2B of Form ADV: Brochure Supplement Charles E. Ruff 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Charles E. Ruff that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Charles E. Ruff is available on the SEC’s website at www.adviserinfo.sec.gov. 59  Item 2. Educational Background and Business Experience Charles E. Ruff, CFA Year of Birth: 1987 Education: Mr. Ruff graduated from Hamilton College with a B.A. degree in Economics and Government in 2010. Additionally, he graduated from the Bayes Business School with an M.S. degree in Energy, Trade and Finance in 2011. Business Background: Head of Investment Strategy and Communications, Cobblestone Capital Advisors, LLC beginning July 2022 Portfolio Manager, Novem Group from 08/2019-07/2022 Investment Analyst, Federated Clover Investment Advisors from 07/2012-08/2019 Professional Designations: Mr. Ruff earned the Chartered Financial Analyst (CFA) designation in 2016. The CFA designation is an international professional certification offered by the CFA Institute (formerly AIMR) to financial analysts who complete a series of three examinations. To become a CFA charterholder candidates must pass each of three exams, possess a bachelor's degree (or equivalent, as assessed by CFA institute) and have 48 months of qualified, professional work experience. CFA charterholders are also obligated to adhere to a strict Code of Ethics and Standards governing their professional conduct. Item 3. Disciplinary Information Mr. Ruff does not have any history of reportable disciplinary events. Item 4. Other Business Activities Mr. Ruff is an adjunct professor at St. John Fisher University. Item 5. Additional Compensation Mr. Ruff does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, 60  including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 61  Part 2B of Form ADV: Brochure Supplement Allison N. Shuler 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Allison N. Shuler that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Allison N. Schraf is available on the SEC’s website at www.adviserinfo.sec.gov. 62  Item 2. Educational Background and Business Experience Allison N. Shuler Year of Birth: 1987 Education: Ms. Shuler graduated from Nazareth College with a B.A. degree in Mathematics Business Background: Senior Wealth Planner, Cobblestone Capital Advisors, LLC beginning December 2015 Operations Generalist, Manning & Napier from 11/2011-12/2015 Professional Designations: Ms. Shuler obtained her CPF® certification in 2019. The CFP® certification is a professional certification mark for financial planners conferred by the Certified Financial Planner Board of Standards, Inc. (CFP Board) in the United States. To receive authorization to use the designation, the candidate must meet education, examination, experience and ethics requirements, and pay an ongoing certification fee. To fulfill the education requirement, students are required to complete course training in various topic areas and sit for the six-hour CFP Board Certification Examination. A bachelor's degree (or higher), or its equivalent in any discipline, from an accredited college or university is required to attain CFP® certification. Item 3. Disciplinary Information Ms. Shuler does not have any history of reportable disciplinary events. Item 4. Other Business Activities Ms. Shuler is not involved in any outside business activities. Item 5. Additional Compensation Ms. Shuler does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 63  Part 2B of Form ADV: Brochure Supplement Timothy J. Shanahan 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Timothy J. Shanahan that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Timothy J. Shanahan is available on the SEC’s website at www.adviserinfo.sec.gov. 64  Item 2. Educational Background and Business Experience Timothy J. Shanahan Year of Birth: 1964 Education: Mr. Shanahan graduated from Georgetown University with a B.S.B.A. degree in Accounting in 1986 and received his M.B.A. in Finance from the University of Rochester Simon School in 1993. Business Background: Member and Senior Relationship Manager, Cobblestone Capital Advisors, LLC beginning April 2011 Vice President, Federated Clover from 12/2008 to 04/2011 Partner and Vice President, Clover Capital Management from 08/1997 to 11/2008 Item 3. Disciplinary Information Mr. Shanahan does not have any history of reportable disciplinary events. Item 4. Other Business Activities Mr. Shanahan is not involved in any outside business activities. Item 5. Additional Compensation Mr. Shanahan does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 65  Part 2B of Form ADV: Brochure Supplement Carroll G. Wert 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Carroll G. Wert that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Carroll G. Wert is available on the SEC’s website at www.adviserinfo.sec.gov. 66  Item 2. Educational Background and Business Experience Carroll G. Wert Year of Birth: 1960 Education: Ms. Wert graduated from St. Bonaventure University with a B.B.A. degree in Marketing. Business Background: Senior Wealth Planner, Cobblestone Capital Advisors, LLC beginning January 1998 Professional Designations: Ms. Wert obtained her CPF® certification in 1992. The CFP® certification is a professional certification mark for financial planners conferred by the Certified Financial Planner Board of Standards, Inc. (CFP Board) in the United States. To receive authorization to use the designation, the candidate must meet education, examination, experience and ethics requirements, and pay an ongoing certification fee. To fulfill the education requirement, students are required to complete course training in various topic areas and sit for the six-hour CFP Board Certification Examination. A bachelor's degree (or higher), or its equivalent in any discipline, from an accredited college or university is required to attain CFP® certification. Item 3. Disciplinary Information Ms. Wert does not have any history of reportable disciplinary events. Item 4. Other Business Activities Ms. Wert is not involved in any outside business activities. Item 5. Additional Compensation Ms. Wert does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 67  Part 2B of Form ADV: Brochure Supplement Tobin B. Woodruff 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 Cobblestone Capital Advisors, LLC 500 Linden Oaks, Ste. 210 Rochester, NY 14625 Telephone: (585) 473-3333 03/21/2025 This brochure supplement provides information about Tobin B. Woodruff that supplements the Cobblestone Capital Advisors, LLC brochure. You should have received a copy of that brochure. Please contact Jason S. Garlock, Member and Chief Compliance Officer, if you did not receive our brochure or if you have any questions about the contents of this supplement. Additional information about Tobin B. Woodruff is available on the SEC’s website at www.adviserinfo.sec.gov. 68  Item 2. Educational Background and Business Experience Tobin B. Woodruff Year of Birth: 1975 Education: Mr. Woodruff graduated from Cornell University with a B.A. degree in Philosophy and from the University of Toronto with an M.A. in Philosophy. Business Background: Senior Wealth Planner, Cobblestone Capital Advisors, LLC beginning January 2002 Professional Designations: Mr. Woodruff obtained his CFP® certification in 2011. The CFP® certification is a professional certification mark for financial planners conferred by the Certified Financial Planner Board of Standards, Inc. (CFP Board) in the United States. To receive authorization to use the designation, the candidate must meet education, examination, experience and ethics requirements, and pay an ongoing certification fee. To fulfill the education requirement, students are required to complete course training in various topic areas and sit for the six-hour CFP Board Certification Examination. A bachelor's degree (or higher), or its equivalent in any discipline, from an accredited college or university is required to attain CFP® certification. Item 3. Disciplinary Information Mr. Woodruff does not have any history of reportable disciplinary events. Item 4. Other Business Activities Mr. Woodruff is not involved in any outside business activities. Item 5. Additional Compensation Mr. Woodruff does not receive any additional compensation from third parties for providing investment advice to its clients. Item 6. Supervision John T. DiPasquale, Jason S. Garlock and Christopher M. Mooney, CCA’s Executive Officers, are responsible for all employee supervision and general business strategy of the firm. They can be reached at (585) 473-3333. The firm’s Investment Committee is responsible for formulation and monitoring of investment advice offered to client, documenting investment meeting deliberations, overseeing all material investment policy changes, and conducting periodic testing to ensure that client objectives and mandates are being met. Jason S. Garlock, Chief Compliance Officer, is responsible for the implementation and monitoring of our compliance program, including the collection and review of all employee personal securities transactions on a quarterly basis. Mr. Garlock can be reached at (585) 473-3333. 69