IPI Wealth Management, Inc., previously known as IPI Asset Management, (collectively, “IPIWM”), was founded in 1996 by David Koshinski, our principal owner. In 1999, we registered with the SEC as an investment adviser offering a full array of portfolio management and financial planning services to retail and institutional investors. Headquartered in Decatur, Illinois, we have 41 other office locations located in eighteen states and Italy – AZ, CO, FL, IA, IL, IN, KS, KY, MI, MO, NC, NV, OH, PR, SD, TN, TX, and WI. Our investment advisor representatives (or “IARs”) may also be registered representatives of our affiliated broker-dealer, Investment Planners, Inc., an SEC registered broker-dealer clearing transactions and introducing accounts on a fully disclosed basis to RBC Clearing and Custody, (or “RBC”). Our affiliation with Investment Planners, Inc. is by common control and ownership. Both Investment Planners, Inc. and RBC are members of the Financial Industry Regulatory Authority (“FINRA”) and registered with the SEC as securities broker-dealers. OUR ADVISORY SERVICES IPIWM has built a strong reputation within the financial services industry through its open- architecture model and commitment to service. We provide advisory services to clients through investment management, financial planning, consulting, and third-party investment managers. Private Portfolio Services of IPI Wealth Management Our Private Portfolio Services are those in which we actively manage your investment portfolio based upon your individual financial and personal needs. We gather your information through in- depth personal interviews. This includes one or more in-person meetings and/or telephone calls. We gather information that includes, but is not limited to, your current financial position, future goals, attitudes toward risk and your investment objectives. We ask you to fill out a client profile questionnaire or similar document that we will carefully review, along with all other documentation you supply. Because we only rely upon the information you provide us and do not independently verify it, you should provide us with accurate information, and we ask that you update your information whenever it changes. Based on the information you provide, we will develop a personalized portfolio designed to meet your investment goals and objectives through asset allocation, portfolio monitoring, consolidated reporting, and most importantly, individualized portfolio management. Individualized portfolio management and a tailored investment strategy will help us choose among various kinds of investments available in the market. Investments include equity securities (stocks), warrants, corporate debt securities (bonds and notes), certificates of deposit, municipal securities, investment company securities (mutual funds, including money market funds), exchange-traded funds and United States government securities. If appropriate, we may allocate your investments in accordance with our model portfolios. A model portfolio is how we communicate to you what specific investments you should have in your portfolio at any given time. Financial Planning Services We provide both comprehensive and limited financial planning services. However, we generally recommend comprehensive planning services as this provides your IAR an opportunity to evaluate and make appropriate recommendations for you based on a detailed and comprehensive evaluation of your current and intended future financial needs. We will conduct an interview with you to obtain as much detail as possible on a number of variables, including but not limited to your financial and life goals, situation, objectives, time horizon and risk tolerance. The information we gather varies based on your individual needs and objectives. As a result, we require your active participation while we obtain information from you as we do not independently verify the accuracy of the data you give us and assume that the information you provide is reliable and current. Based on your request, plans can address some or all of the following items:
• Estate Planning & Estate Goals
• Retirement Planning
• Education Planning
• Insurance Planning/Risk Management
• Investments
• Cash Flow Analysis
• Budget Planning
• Tax Planning
• Business Continuity, Succession and Exit Planning
• Asset Allocation Services. The specific financial planning services and fees applicable to you will be described in our Investment Advisory Services Agreement (“Agreement”) that we will ask you to review and sign prior to the engagement. For financial planning services, you can choose a modular approach by focusing on a particular area, or a broader financial review, that covers multiple topics. This means that you can work with us on a short-term, project retainer basis without using our investment management services. After analysis and evaluation of your situation, we will generally present you with a written report that summarizes the findings, potential decision points, possible strategies (including their pros and cons), recommended course and action items. However, in certain circumstances, as agreed with you, a report may not be issued. We do not have any discretionary investment authority when providing hourly financial planning and consulting services. Afterwards, there is a follow-up period before the project formally concludes. Subsequently, you determine when to return for periodic updates or check-ups on a specific part or on the entire plan. The engagement generally terminates upon the final consultation unless you specifically request otherwise in our Agreement. Implementation of any financial plan recommendation is solely at your discretion and you will need to work with your other professionals, such as your attorney, accountant, banker, insurance agent, stockbroker (or registered representative or financial consultant), among others. Our IARs may also be licensed as insurance agents and registered representatives, so your IAR is in a position to implement your plan recommendations. However, please realize that you are under no obligation to use our IAR to implement any plan recommendations. IPIWM Investment Advice for Non-IPIWM Custodied Client Accounts IPIWM, through its IARs, provides written asset allocation and/or specific investment recommendations for clients on the investment options available within client accounts held away from IPIWM custody firms. IARs provide advice and recommendations on assets based on the financial and other information provided. The IAR will tailor the recommendation to your individual needs based upon the investment objective you choose. The engagement terminates upon delivery of the written recommendation unless you request otherwise in our Agreement. IPIWM provides two different service levels with regards to held away assets. First, as a non- discretionary service, you retain the sole responsibility for determining whether to implement any recommendations made by your IAR and for placing any resulting transactions with your outside accounts held away from the custodians we generally recommend. In this service, we do not provide discretionary portfolio management services. Second, we provide an additional service for accounts not directly held in our custody, but where we do have discretion, and leverage an Order Management System to implement tax-efficient asset location and opportunistic rebalancing strategies on behalf of the client. These are primarily 401(k) accounts, HSA’s, and other assets we do not custody. We regularly review the available investment options in these accounts, monitor them, and rebalance and implement our strategies in the same way we do other accounts, though using different tools as necessary Third Party Asset Management Program (“TAMP”) Services IPIWM makes available advisory services and programs of several third-party investment advisors. Under these TAMP programs, IPIWM through its IARs, provides ongoing investment advice tailored to your individual needs. As part of these TAMP services, your IAR will typically obtain the necessary financial data from you to assist in determining appropriate investment objectives and selecting the TAMP whose style and talent best fit your individual needs and circumstances, including assistance in opening an account with the TAMP. Depending on the type of TAMP selected, your IAR will usually assist you in selecting a model portfolio of securities designed by the TAMP, or select

a portfolio management firm to provide discretionary asset management services. You should understand that it is the third-party investment adviser (and not IPIWM or your IAR) that has authority to purchase and sell securities on a discretionary or non-discretionary basis pursuant to your investment objective. This authorization will be set out in the TAMP client agreement. IPIWM currently offers advisory services through TAMPs sponsored by RBC, Schwab, Trade PMR or Envestnet. Unless directed otherwise, your agreement with the TAMP gives us the authority to hire or fire these managers on your behalf. Once a manager is selected, your IAR will continue to monitor their performance. Additionally, we will meet with you, at least annually, to determine whether any changes in your financial status warrant adjustments to your investment objectives with the third-party money manager. We will also be happy to meet with you more frequently, if requested. If you are interested in learning more about any of these TAMP services, a complete description of their programs, services, fees, payment structure and termination features are found in their respective service disclosure brochures. investment advisory agreements and account opening documents, all of which our IAR will provide you prior to engaging their services. From time to time we review other third-party investment managers and reserve the right to make additional programs available to our clients, in our discretion, as we deem appropriate and consistent with our investment strategies. For these and other services we will receive a portion or all of the fees paid by you as described in the “Fees and Compensation” section below. Marketing and Sales Services for Registered Investment Advisers IPIWM and its IARs act as marketing agents on behalf of third party registered investment advisers (money managers) pursuant to a marketing/sales services agreement. In such case, IPIWM provides marketing and sales services to the third-party investment adviser related to introduction of an advisor or broker that manages primary client relationship. The IAR also provides the broker or advisor with information with regards to money manager’s investment strategies. IPIWM’s IARs do not provide ongoing investment advice or any other advisory services or maintain any relationship with the individual investor. Services Provided to Retirement Plan Sponsors We provide investment management services to qualified retirement plans which are subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). As part of our services to qualified plans, we will act as either an ERISA 3(21) fiduciary advisor or an ERISA 3(38) fiduciary manager. The key difference between these two types of fiduciaries is whether you engage us as a discretionary manager. As a 3(38) manager, you give us discretionary authority to manage your plan’s assets. This means that you shift your fiduciary responsibility to us for the selection of your investments. If you hire us as a 3(21) advisor, we will make recommendations, but it is ultimately up to you, as the plan sponsor, to decide whether and how to act. As a 3(21) advisor, we will not have discretion to invest and reinvest your assets without your prior consent. Thus, as a 3(21) advisor, we will share responsibility for the selection of investments. and IPI Wealth Management, Inc., 226 W. Eldorado St., Decatur, IL 62522. 217-425-6340. For all qualified plan clients, we start by assisting you with the creation and maintenance of your investment policy statement. Your investment policy statement can place restrictions on the types of investments the plan may invest its assets. We identify specific asset categories to be represented in your plan’s investment menu. We then use our investment process to select and advise on mutual funds and other securities that comprise your plan’s investment menu. We ensure that the investment options are permitted under your investment policy statement. We continually monitor the performance of all investment options and communicate frequently with each mutual fund or collective trust fund managers as needed. We provide five risk-based asset allocation models that allow participants to invest according to their specific goals, objectives, time to retirement, as well as risk tolerance. We create our models by assigning a weighted allocation to the mutual funds in our investment menu depending upon the objective of the particular model. The following is a brief description of each of our models:
• The Income Model allows for preservation of capital and current income, with long- term capital appreciation being secondary;
• The Conservative Model allows for preservation of capital and current income, with consideration for long-term capital appreciation;
• The Moderate Model provides long-term capital appreciation and current income, with consideration for preservation of capital;
• The Growth Model provides long-term capital appreciation and current income, with reasonable risk; and
• The Aggressive Model provides long–term capital appreciation. Participants of plans are permitted to invest in one or more of our models or individual funds. If we provide individual investment advice to participants as described below, we will only recommend investment in one model that meets the investment objectives, time horizon to retirement, anticipated retirement income needs and risk tolerance of the participant. We believe utilizing one model will provide participants with an investment strategy that best meets their investment objectives given their personal risk tolerance. Participant Advice In addition to the investment supervisory services we provide to plan sponsors, the plan sponsor can engage us to provide one-on-one investment advice to the participants of the plan. We start this process by providing education to employees in group meetings. We then meet individually with the participant. The participant will provide information to us about their financial situation, risk tolerance, time horizon to retirement, anticipated retirement income needs and investment objectives. We also provide information to the participant on how various levels of wage deferral or contributions to their retirement plan will impact their take-home pay. Taking all of this information into consideration, we will recommend investments in an appropriate model. We meet with newly eligible participants on a quarterly basis and we offer to meet with all participants on a semi-annual basis or more or less frequently as requested by the plan sponsor. We believe that our individualized participant advice services tend to increase participant retirement plan contributions and help to close the gap between a participant’s current retirement funds and what a participant needs for retirement. Retirement Rollovers A client or prospective client leaving an employer typically has four options regarding an existing retirement plan (and may engage in a combination of these options): (i) leave the money in the former employer’s plan, if permitted, (ii) roll over the assets to the new employer’s plan, if one is available and rollovers are permitted, (iii) roll over to an Individual Retirement Account (“IRA”), or (iv) cash out the account value (which could, depending upon the client’s age, result in adverse tax consequences and possible penalties). If IPIWM and its IAR recommend that a client roll over retirement plan assets into an account to be managed by IAR, such a recommendation creates a conflict of interest if IAR will earn new or increased compensation because of the rollover. If IPIWM IAR provides a recommendation as to whether a client should engage in a rollover or not, whether it is from an employer’s plan or an existing IRA, IPIWM and its IAR is acting as 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. No client is under any obligation to roll over retirement plan assets to an account managed by IPIWM or its IAR, whether it is from an employer’s plan or an existing IRA. ASSETS UNDER MANAGEMENT We manage your assets on either a discretionary or nondiscretionary basis. As of December 31, 2023, we had $1,955,583,194 in client assets managed on a discretionary basis and $191,887,260 in client assets managed on a nondiscretionary basis.