PlanMember Securities Corporation (“PSEC,” “we,” “our,” and/or “us”) is registered with the Securities and Exchange Commission (SEC) as both a broker-dealer and an investment adviser. PSEC has been providing investment advisory services since 1994. Jon M. Ziehl is the founder and President of PSEC and has been in the financial services industry since 1980. PSEC is a direct subsidiary of PlanMember Financial Corporation. More than 25% of a voting class of securities of PlanMember Financial are held by Mr. Ziehl and, indirectly, by Equitable Distribution Holdings. Equitable Distribution Holdings is a member of the Equitable. As used is this Brochure, “Your PSEC Professional” or “Professional” refers to the PSEC financial professional who is responsible for your account. The terms “you,” “your,” and/or “client” refer to you as either a current or prospective client of PSEC. As used in this Brochure, the term “Associated Person” may refer to any or all of the following: PSEC officers, employees, and/or any individuals providing investment advice on behalf of PSEC. Our brokerage and investment advisory services and fees differ, and it is important for you to understand these differences. Free and simple tools are available for you to research firms and financial professionals at investor.gov/crs, which also provides educational materials about broker-dealers, investment advisers, and investing. Depending on your needs and your investment objectives, the Firm may assist you with brokerage services, investment advisory services, or both. There are important differences between brokerage and advisory services, including their costs, the services we provide, and the rules that govern them. You should carefully consider these differences when deciding which type, or combination of types, of services and accounts are right for you. Information regarding the differences between our brokerage and advisory services is also included in our Client Relationship Summary disclosure (Form CRS), which is available at planmember.com/disclosures. In addition to the advisory programs and services described in this Brochure, PSEC also offers other advisory programs and services, which are described in separate Forms ADV, Part 2As. Detailed discussions of each of the advisory programs and services provided by PSEC, are available on our website at planmember.com/disclosures. When you choose to purchase products and services through PSEC and work with a PSEC financial professional, you have the option of investing through a transaction-based account, such as a brokerage account, a fee-based investment advisory program, or both. It is important to understand the services you can expect to receive, and the costs associated with each of these different types of accounts and relationship with PSEC and your PSEC financial professional. Additional information on the types of accounts PSEC offers and the costs associated with each are available on our website at planmember.com/disclosures. PlanMember Preference and PlanMember IAR Programs PSEC Advisors make available investment portfolio management services, on a discretionary basis, to their clients. PSEC Advisors will consult with the client to obtain detailed investment objective information and other pertinent data on an Investor Profile Worksheet to enable the client to determine the most appropriate investment guidelines, risk tolerance and other factors that will assist the client in selecting a suitable investment portfolio. Services are based on the individual needs of the client. An initial interview and data gathering questionnaire is undertaken to determine the client's financial situation and investment objectives, and to give the client the opportunity to impose reasonable restrictions on the management of the account. The client will retain rights of ownership of all securities and funds in the account to the same extent as if the client held the securities and funds outside the program. Further restrictions and guidelines imposed by clients may affect the composition and performance of a client's portfolio. For these reasons, performance of the portfolio will not be identical with the average client of PSEC Advisors. Services PSEC provides investment advisory programs to individuals and plan sponsors who participate in or sponsor certain qualified tax-deferred retirement programs including, but not limited to, payroll deduction programs under Sections 403(b), 401(k), 401(a), 457(b) and 408 of the Internal Revenue Code, as well as individuals invested in nonqualified investment advisor firms, and wrap fee programs. For accounts with Pershing as the custodian, brokerage and execution services are provided by Pershing. For accounts for which PlanMember acts as record keeper, PSEC will provide brokerage and execution services as the broker-dealer on transactions. The Program Fee March 30, 2024 5-14 PSEC offers the PlanMember Preference and PlanMember IAR Programs under which client accounts are managed for a single, asset-based fee for advisory services that includes the costs associated with portfolio management, custodial services, commissions, and securities transactions (the “wrap fee”). In addition, Pershing charges an annual account service fee of up to $50 depending on account type that will be billed separately, of which a portion is retained by the Firm. However, the custodian charges no additional transactional or record-keeping charges. PSEC Advisors provide investment portfolio management services, on a discretionary basis, to clients participating in the PlanMember Preference and PlanMember IAR Programs. Participating clients are required to establish accounts

at PlanMember FDx, which is a registered transfer agent, or Pershing, LLC, which an unaffiliated securities broker-dealer and member of FINRA and SIPC. The wrap fee for PlanMember Preference Program accounts on the PlanMember FDx platform is billed monthly, in arrears, based on the average daily balance of the account during the preceding month. The wrap fee for the PlanMember IAR Program accounts on the Pershing platform is billed quarterly, in advance, based on the average daily balance of the account during the preceding month. For the PlanMember IAR Program, in the event the portfolio management agreement is executed at any time other than the first day of a month, fees will be assessed pro rata based on the initial account value. Clients participating in the Preference and PlanMember IAR Programs are required to authorize PSEC to debit the Program wrap fee from their account. If insufficient cash is available to pay such fees, securities in an amount equal to the balance of unpaid fees will be liquidated to pay for the unpaid balance. On an annualized basis, the Program wrap fee is charged at a maximum annual rate of 2.00% of assets under management. However, a lower rate may be negotiated with Your PSEC Advisor. Of the wrap fee, PSEC retains 0.35% of assets under management; the remainder is paid to Your PSEC Advisor. March 30, 2024 6-14 Fees Charged by Third Parties There are other fees and charges that are imposed by third parties other than PSEC that apply to investments in Advisor and Strategist Program accounts. Some of these fees and charges are described below. Since your assets are invested in mutual funds or other pooled investment products, you should be aware that there will be two layers of advisory fees and expenses for those assets. You will pay an advisory fee to the fund manager and other expenses as a shareholder of the fund. In the case of mutual funds that are fund of funds, there could be an additional layer of fees, including performance fees that may vary depending on the performance of the fund. You will also pay PSEC and your PSEC Professional the Account Fee with respect to those assets. Most of the mutual funds available in the program may be purchased directly. Therefore, you could generally avoid the second layer of fees by not using the advisory services of PSEC and Your PSEC Professional and by making your own decisions regarding the investment. If you transfer into an Advisor or Strategist Program account a previously purchased mutual fund, and there is an applicable contingent deferred sales charge on the fund, you will pay that charge when the mutual fund is sold. If your account is invested in a mutual fund that charges a fee if a redemption is made within a specific time period after the investment, you will be charged a redemption fee. If a mutual fund has a frequent trading policy, the policy can limit your transactions in shares of the fund (e.g., for rebalancing, liquidations, deposits or tax harvesting). When transferring securities into an account, you should be aware that certain securities may not be eligible for the account. In such case, the securities may be rejected. Important Things to Consider About Fees on a Program Account The Account Fee is an ongoing fee for investment advisory services and other administrative and custodial services. You do not pay commissions or transaction charges. The Account Fee may cost you more than purchasing the program services separately, for example, paying an advisory fee plus commissions for each transaction in the account. Factors that have a bearing upon the cost of the account in relation to the cost of the Preference Program services purchased separately include the:
• type and size of the account
• historical and or expected size or number of trades for the account
• transaction charges for the securities purchased and sold in the account and
• number and range of supplementary advisory and client-related services provided to you The Account Fee also may cost you more than if assets were held in a traditional brokerage account. In a brokerage account, you are charged a commission for each transaction, and your PSEC Advisor has no duty to provide ongoing advice with respect to the account. If you plan to follow a buy and hold strategy for the account or you do not wish to purchase ongoing investment advice or management services, you should consider opening a brokerage account rather than a Program account. The Account Fee may be higher than the fees charged by other investment advisors for similar services. Your PSEC Advisor, by recommending the program to you, receives compensation as a result of your participation in the Program. This compensation includes a portion of the Account Fee, and also may include other types of compensation, such as bonuses, awards or other things of value offered by PSEC to the Your PSEC Advisor. PSEC pays your PSEC Advisor this compensation based on your Advisor’s overall business production and/or on the amount of assets serviced in PSEC advisory programs. Therefore, the amount of this compensation may be more than what your PSEC Advisor would receive if you participated in other PSEC programs, programs of other investment advisors or paid separately for investment advice, brokerage and other client services. Therefore, your PSEC Advisor may have a financial incentive to recommend a Preference Program account over other programs and services. The investment products available to be purchased in the Preference Program can be purchased by clients outside of a Program account, through broker-dealers or other investment firms not affiliated PSEC.