Description of Advisory Firm Mark Bell Advisory Services, Inc. is a FEE ONLY investment advisor registered with the United States Securities and Exchange Commission (“SEC”). The firm is a Sub-S corporation formed under the laws of the State of Illinois.
• The firm’s sole owner, President, Chief Compliance Officer and sole employee is R. Mark Bell. Please refer to the Brochure Supplement section of this document for information regarding my education and business experience.
• Mark Bell Advisory Services has been registered as an investment advisor with the SEC since December 10, 1990. Description of Advisory Services In an effort to focus my attentions on my existing clients, my firm is a “closed practice”. This means that I am not actively seeking new clients. The only new clients that might engage the firm for the services outlined in this Disclosure Brochure would be close family members or close friends of existing clients. Thus, much of the information that explains how potential new clients might be serviced or charged is simply laid out in case a client or two is accepted. Existing clients are provided the services described below, but fee arrangements with current clients will represent fee schedules that were in effect when those clients began using the services of Mark Bell Advisory Services, which can date back to 1990. Any new clients will be subject to the current fee schedule as outlined in Item 5 – Fees and Compensation of this Disclosure brochure. Through Mark Bell Advisory Services, I provide two types of services to my clientele:  Money Management Services  Financial Planning Services Money Management Services Money Management Services (also known as investment management, portfolio management or asset management services) involve providing clients with continuous and on-going supervision over their accounts. I consider myself to specialize in this service and all clients receiving this Disclosure Brochure are provided this service. This means that I will continuously monitor a client’s account and make trades in client accounts when necessary. Through this service, I implement a customized and individualized investment program for clients by applying my investment strategy and philosophy. I actively manage client investment portfolios in accordance with the client's individual needs, return objectives and risk tolerance. Through this service, I will provide to you a current asset allocation schedule, a recommended asset allocation schedule, and, at the outset of the engagement, an investment policy statement outlining your specific goals and objectives, and a written specific investment strategy identifying specific investment assets for purchase and/or sale. Independent investment research from Morningstar is provided for recommended equity & fixed income mutual fund & ETF investments, and generic educational investment material will be provided and reviewed, reflecting historic investment experience. I provide unlimited telephone contact to all clients. Clients are always responsible for notifying Mark Bell Advisory Services of any changes to their financial situation or investment objectives. I meet with each client on a periodic basis throughout the year, at which time the asset allocation schedule will be updated to reflect the current allocation. Any changes the client wants made to their strategic equity targets will be addressed. We also review performance monitoring reports which reflect actual investment experience of the assets managed by the firm. Updated research on the existing and recommended investments will be reviewed as well. Throughout the year, I will assist the client in the implementation of the agreed upon strategy. I monitor the domestic and international equity and bonds markets, as well as the client's portfolio, and will proactively rebalance the client portfolios if conditions warrant it. It should be noted that occasionally the firm will be retained to invest only a portion of a client's assets (those outside of employee benefit plans, such as a 401k for example), yet the client's desire is to have the strategy integrated with the current allocation of their employee benefit plans, so that the entire asset allocation is in balance. This of course requires additional research time, and effort in terms of the asset allocation schedule, and could result in higher costs. Money Management Services are provided through accounts held at Charles Schwab & Company, Inc. as a result of the firm’s participation in the Schwab Institutional platform. Services can also be provided through brokerage and custodial platforms selected by a client. Charles Schwab & Company, Inc. is a registered broker/dealer, member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investors Protection Corporation (SIPC) and will serve as the client’s qualified custodian and maintain physical custody of all client funds and securities. You must designate Mark Bell Advisory Services as your investment advisor on the accounts you’d like Mark Bell Advisory Services to manage. Mark Bell Advisory Services will be granted limited power-of-attorney on the accounts to implement trades within the account and (when agreed to by the client) deduct the Mark Bell Advisory Services advisory fees from the account. Please refer to Item 12 – Brokerage Practices and Item 15 – Custody for more information. I am reasonably available to consult with clients relative to the status of their accounts. A client’s beneficial interest in a security does not represent an undivided interest in all the securities held by the custodian, but rather represents a direct and beneficial interest in the securities which comprise the accounts. A separate account is always maintained for each client with the broker-dealer/custodian and the client retains all rights of ownership to their accounts (e. g. right to withdraw securities or cash, exercise or delegate proxy voting, and receive transaction confirmations). It is important that you understand that Mark Bell Advisory Services manages investments for other clients and can give them advice or take actions for them or for my personal accounts that is different from the advice I provide to you or actions I take for you. I am not obligated to buy, sell or recommend to you any security or other investment that I buy, sell or recommend for any other clients or for my own accounts. Conflicts can arise in the allocation of investment opportunities among accounts that I manage. I strive to allocate investment opportunities believed appropriate for your account(s) and other accounts advised by my firm among such accounts equitably and consistent with the best interests of all accounts involved. However,

there can be no assurance that a particular investment opportunity that comes to my attention will be allocated in any particular manner. If I obtain material, non-public information about a security or its issuer that I cannot lawfully use or disclose, I have absolutely no obligation to disclose the information to any client or use it for any client’s benefit. In fact, my Code of Ethics prohibits my use of such information for the benefit of anyone! Financial Planning Services I provide advisory services in the form of financial planning consultations and written financial plan modules. Financial planning services do not involve the active management of client accounts, but instead focus on a client’s overall financial situation. Financial planning can be described as helping individuals determine and set their long-term financial goals, through investments, tax planning, asset allocation, risk management, retirement planning, and other areas. The role of a financial planner is to find ways to help the client understand his/her overall financial situation and help the client set financial objectives. Not all clients of my firm are in need of financial planning services and therefore not all clients receive this service. This service is provided to clients that have financial needs beyond simply managing their investment assets. Financial Planning Services can involve one or more modules of a financial plan (which supplement the money management services) which are tailored to the client's specific needs. Modules can include:  Net worth statement  Detailed statement that reflects the client's assets by account  Retirement model and supporting schedules  Life insurance needs model and supporting schedules  Review of existing estate documents and comments pertaining to them  Review of client’s tax returns & comments attendant to them  Discussion of re-financing or mortgage decisions  Discussion and review of Long Term Care Insurance  Other schedules as are needed to address the client's specific circumstances For Money Management clients in need of this service, I provide periodic meetings and telephone contact (Money Management clients not receiving financial planning services can also contact me whenever they have concerns about their accounts managed by my Firm). Portions of the financial plan are updated at each of the periodic meetings as needed. Investment performance monitoring reports are provided at the periodic meetings reflecting actual investment performance of the recommended assets and portfolios. Often times recommendations made in connection with financial planning services are prepared with the intention of clients implementing such recommendations through my Money Management Services. However, you are not obligated to do so. If you elect to implement my advice provided as part of the financial planning services, implementation will be made through the Money Management Services described above. At this time, I do not charge an additional or separate fee for financial planning services, although that can change in the future. All such services are covered under the fees paid for Money Management services. Please refer to Item 5 – Fees and Compensation for more information. Limits Advice to Certain Types of Investments Mark Bell Advisory Services can provide investment advice on the following types of investments.
• No-Load (i.e., no trading fee) and Load-Waived (i.e., trading fee waived) Mutual Fund Shares
• Exchange-listed securities (i.e., stocks)
• Securities traded over-the-counter (i.e., stocks)
• Fixed income securities (i.e., bonds)
• Closed-End Funds and Exchange Traded Funds (ETFs)
• Foreign Issues
• Warrants
• Corporate debt securities (other than commercial paper)
• Commercial paper
• Certificates of deposit
• Municipal securities
• Variable life insurance
• Variable annuities
• United States government securities
• Options contracts on securities
• Interests in partnerships investing in real estate, oil and gas interests Mark Bell Advisory Services does not provide advice on options contracts on commodities, futures contracts on tangibles or intangibles, or hedge funds and other types of private (i.e., non-registered) securities. When providing Money Management Services, the firm will typically construct a tailored & diversified portfolio for each client using primarily open & closed end mutual funds (including money market funds), Exchange Traded Funds, CDs, and individual taxable & tax-exempt bonds as well as other investments as deemed appropriate. However, I do not recommend individual stock positions or options contracts when managing accounts. I can modify your investment strategy to accommodate special situations like low basis stock, stock options, legacy holdings, inheritances, closely held businesses, collectibles, or special tax situations. (Please refer to Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss for more information.) Tailor Advisory Services to Individual Needs of Clients My services are always provided based on the individual needs of each client. This means, for example, that you are given the ability to impose restrictions on the accounts I manage for you, including specific investment selections and sectors. I work with each client on a one-on-one basis through on-going meetings, phone calls, emails and initial interviews to determine the client’s investment objectives and suitability information. Client Assets Managed by Mark Bell Advisory Services The amount of client assets managed by Mark Bell Advisory Services totaled $129,125,934 as of December 31, 2023, all managed on a discretionary basis.