Form CRS (Client Relationship Summary)

Item 1. Introduction

Monticello Associates LLC (“we”, “our”), is an investment adviser registered with the U.S. Securities and Exchange Commission. We are not a broker-dealer and do not offer brokerage services. Because brokerage and advisory services and fees differ, it is important for retail investors like you to know the differences. You may access free and simple tools to research firms and financial professionals at Investor.gov/CRS, which also provides educational materials about broker-dealers, investment advisers, and investing.

Item 2. Relationships and Services

What investment services and advice can you provide me? As described in our Form ADV (specifically Items 4 and 7 of Part 2A and Items 4.A. and 5 of Part 2A Appendix 1), we offer non-discretionary advisory services to retail investors who make the ultimate decision regarding the purchase or sale of investments. In particular, we offer asset management consulting services, which include some or all of the following services: (i) developing investment policies and objectives, (ii) analyzing asset allocation and diversification, (iii) researching investment managers and their funds for client selection, (iv) providing due diligence and performance monitoring of managers, (v) providing periodic performance reports on client accounts, and (vi) other related services.

Account Minimums & Other Requirements: We do not impose a minimum size for establishing a relationship.

Conversation Starters

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

Item 3. Fees, Costs, Conflicts, and Standard of Conduct

What fees will I pay? We charge you a consulting fee based on several factors, including the amount of your assets under advisement and the level and complexity of our service to you. This consulting fee is an annual-based fee that is payable in quarterly installments at the beginning of each quarter. This consulting fee does not include investment management fees, transaction costs, or custodial fees that are charged by other service providers. Our consulting agreement generally does not have a termination date. Accordingly, either of us may terminate the agreement at any time, upon prior written notice. If an agreement is terminated, we will prorate any pre-paid consulting fees and refund the outstanding amount. Because our consulting fee may be based on the amount of your assets under advisement, we have an incentive to encourage you to increase the assets under advisement. You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying. For more detailed information on our fees, please see Item 5 – Fees and Compensation of our Form ADV Part 2A available via our firm’s Investment Adviser Public Disclosure Page.

What are your legal obligations to me when acting as my investment adviser? How else does your firm make money and what conflicts of interest do you have? When we act as your investment adviser, we have to act in your best interest and not put our interests ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the investment advice we provide you. Here is an example to help you understand what this means. Should your advisor recommend a proprietary product that is managed by an affiliate of ours, a potential for conflict exists. Investing in a proprietary product means that individuals or entities within our organization will receive additional revenue from the fees collected for the management of these products. We are therefore financially incentivized to recommend that you invest directly into proprietary products over other alternatives. However, you are not obligated to invest in proprietary products in order to maintain an advisory relationship with us.

Conversation Starter

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

How do your financial professionals make money? Our financial professionals are compensated in cash salaries and bonuses. Their compensation is not determined by: (i) the amount of your assets they service, (ii)the time and complexity required to serve your needs, or (iii) the type or amount of investmentrecommendations made to or followed by you.

Item 4. Disciplinary History

Do you or your financial professionals have legal or disciplinary history? No. You may visit Investor.gov/CRS for a free and simple search tool to research us and our financial professionals.

Conversation Starter

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

Item 5. Additional Information

You may find additional information about our advisory services and request a copy of our relationship summary on our website, www.monticelloassociates.com, or by calling 303-572-6300 to request up-to-date information.