DMKC Advisory Services, LLC (also referred to as the “Firm”, “us”, and “we”) has been an SEC Registered Investment Adviser since 2007 and an Iowa Limited Liability Company since 1999. D.M. Kelly & Company, a registered broker/dealer member FINRA/SIPC, is our parent company; the Daniel M. Kelly 2004 Trust is the majority owner of D.M. Kelly & Company; and Patrick B. Kelly is the Trustee for the Daniel M. Kelly 2004 Trust. We are a fiduciary and are required to act in your best interest at all times. We provide fee-based investment advisory services and financial planning. The nature and extent of the specific services provided to clients depends on each client’s financial status, objectives and needs, time horizons, concerns, expectations and risk tolerance. Our investment advisor representatives (“Advisors”) are also registered representatives of D.M. Kelly & Company. When making the determination of whether the advisory programs available through us are appropriate for your individual needs, please keep in mind that fee based accounts, when compared with commission based accounts (such as those available through D.M. Kelly & Company), often result in lower costs during periods when trading activity is heavier, such as the year an account is established. However, during periods when trading activity is lower, such arrangements may result in a higher annual cost for transactions. Thus, depending on a number of factors, the total cost to you under a fee account versus a commission based account can vary significantly and a commission based account may be cheaper than a fee based account. Some such factors are account size, amount of turnover, type and quantities of securities purchased or sold, commission rates and your tax situation. You should have a conversation with your Advisor and read this Brochure carefully when deciding if the advisory services available through our Firm are right for your investment needs. Description of Advisory Services Our firm specializes in providing portfolio management services which involve providing you with on-going supervision over your accounts. This means that we monitor your account and make trades when necessary. Through this service, we implement a customized and individualized investment program for you by applying our investment strategy and philosophy. We actively manage your investment portfolios in accordance with your individual needs, return objectives, and risk tolerance. We will be granted trading authorization on your account. Please refer to Item 16 for more details. You are always responsible for notifying us of any changes to your financial situation or investment objectives, or if you would like to impose and/or modify any reasonable restrictions on the management of their accounts. We are always reasonably available to consult with you relative to the status of your accounts. It is important that you understand that we manage investments for other clients and we are not obligated to buy, sell or recommend to you any security or other investment that we may buy, sell or recommend for any other clients or for our own accounts. Conflicts may arise in the allocation of investment opportunities among accounts we manage. We strive to allocate investment opportunities believed appropriate for your account(s) and other accounts advised by our 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 our attention will be allocated in any particular manner. If we obtain material, non-public information about a security or its issuer that we may not lawfully use or disclose, we have absolutely no obligation to disclose the information to any client or use it for any client’s benefit. Our portfolio management services are provided through three managed platforms: Atlas, Anchor, and Dividend Low-Volatility (DLV). Comparison of Atlas, Anchor, and DLV Atlas is an open-architecture style program available to larger accounts and allows investments in a variety of securities. The Atlas program allows more customization in the portfolio’s composition and the timing of transactions. Individual Advisors help tailor the investment portfolio and may or may not be granted discretionary trading. There is a $500,000 minimum account size and a minimum annual fee of $1,000. All participants must be our client. The discretionary Anchor offers investors five asset allocation models and can be used for accounts with a $50,000 minimum account size and a minimum annual fee of $200. The models primarily use mutual fund and ETF investments. The Anchor program has an Investment Team create, update, and periodically rebalance the model portfolios. All participants must be our client. The discretionary DLV offers certain investors an equity strategy paired with a blend of high-quality fixed income investments that meets with the Client’s risk objective. The DLV program is designed for long- term investing, while remaining liquid, and aims to deliver growth and income while reducing volatility. This program also utilizes a third party money manager. There is a $250,000 minimum account size and a minimum annual fee of $1,000. All participants must be our client. All brokerage transactions implemented through Atlas, Anchor, and DLV are processed by D.M. Kelly & Company in its capacity as a full-service introducing broker/dealer, and then cleared through Wells Fargo Clearing Services, LLC, which are both registered broker/dealers and members of FINRA/SIPC. D.M. Kelly & Company is our affiliated broker/dealer. Wells Fargo Clearing Services, LLC is not affiliated with D.M. Kelly & Company or us. In addition to serving as the clearing broker/dealer, Wells Fargo Clearing Services, LLC serves as qualified custodian for Atlas, Anchor, and DLV accounts (see Items 12 and 15 for more information). Selection and Monitoring of Third Party Money Managers Client’s investment portfolios are managed either by our Investment Adviser Representatives or outside portfolio managers selected by us. We select and review outside portfolio managers based on the following factors:
• past performance;
• cost;
• investment philosophy;
• market outlook;
• experience of portfolio managers and executive team;
• opinions of third party analysts;
• disciplinary, legal and regulatory histories of the firm and its

associates;
• whether established compliance procedures are in place to address at a minimum, insider trading, conflicts of interest, anti-money laundering. We do not calculate portfolio manager performance. Instead, we rely upon the performance figures based on the client’s account statements or reports provided to us by the outside portfolio managers. We do, however, watch for several types of events in conjunction with poor performance. These events trigger an in-depth review of an outside portfolio manager and primarily include:
• Significant changes in asset allocation;
• Substantial drift in investment style; and/or
• Sustained under-performance. We do not verify the accuracy of such performance information or its compliance with presentation standards. As a result, performance information may not be calculated on a uniform and consistent basis. We have the ability to hire or delegate authority to independent third party investment managers to manage a portion of our client's portfolio through advisory management services programs and we have the ability to fire independent third party managers. Financial Planning Services Based on information gathered from you, we present a financial plan intended generally to assist you with your financial affairs. This financial plan is not intended as a comprehensive financial plan covering every possible aspect of your financial affairs. It is intended to cover, in a general sense, those financial issues and decisions typically important to most clients. Financial planning may include advice on retirement, education, tax planning, survivorship issues, disability, asset allocation and estate planning. In the implementation of the financial plans, you retain the actual responsibility and authority to implement recommendations in the financial plan presented by our Advisor. We may assist in the implementation at the request of clients. Types of Investments We provide investment advice on the following types of investments: municipal securities, fixed income securities (i.e. bonds), exchange-listed securities (i.e. stocks), securities traded over-the-counter (i.e. stocks), commercial paper, certificates of deposit, US government securities, preferred stock, mutual fund shares, or exchange traded funds. We do not provide advice on foreign issues, warrants, variable life insurance, variable annuities, options contracts on securities, options contracts on commodities, futures contracts on tangibles or intangibles, interests in partnerships investing in real estate, oil, and gas interests, or hedge funds and other types of private (i.e. non-registered) securities. When providing asset management services, we typically construct your account holdings using no-load mutual funds, funds at Net-Asset-Value (NAV), equity positions and fixed income positions to build diversified portfolios. It is not our typical investment strategy to attempt to time the market but we may increase cash holdings modestly as deemed appropriate, based on your risk tolerance and our expectations of market behavior. We may modify our investment strategy to accommodate special situations such as low basis stock, stock options, legacy holdings, inheritances, closely held businesses, collectibles, or special tax situations. Tailor Advisory Services to Individual Needs of Clients Our services are 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 we manage for you, including specific investment selections and sectors. We work with you on a one-on-one basis through interviews and questionnaires to determine your investment objectives and suitability information. When managing your accounts through the Anchor program, we manage in accordance with one or more investment models. Because your accounts are managed using models, investment selections are based on the underlying model and we generally do not develop customized (or individualized) portfolio holdings for each client. However, the determination to use a particular model or models is always based on your individual investment goals, objectives and mandates and at times, we may create individualized portfolios. Our services are always based on your individual needs as we select strategies and models most appropriate for you. When we provide asset management services, you are given the ability to impose restrictions on the accounts we manage for you, including specific investment selections and sectors. However, we will not enter into an investment adviser relationship with a prospective client whose investment objectives may be considered incompatible with our investment philosophy or strategies or where the prospective client seeks to impose unduly restrictive investment guidelines. Services through Client Directed Brokerage Arrangements Generally, all clients engaging us for our investment management services will be solicited to open an Atlas, Anchor, or DLV program account as previously described. However, at your specific written request, and subsequent consent from us, we can provide investment management services through accounts maintained at a qualified custodian selected by the client. The client selected qualified custodian (which may include a broker-dealer, bank, or product sponsor) will maintain custody of all funds and securities. Please see Items 12 and 15 for more details. The type and form of investment management services provided through this service are similar to the investment management services provided through the Atlas, Anchor, or DLV programs. Some brokerage platforms may have constraints limiting our ability to trade in the client’s account or a client may decide to restrict our trading authority. In these situations, our services are considered “consultative” in nature and trading authorization is not granted to us by you. Through this type of arrangement, we provide ongoing review services of your account; however, you must implement all trades in the account as we will not have direct trading access to the account. We do not participate in a wrap program. Client Assets Managed The amount of clients’ assets managed totaled approximately $562,510,319 as of December 31, 2023. Approximately $475,265,642 is managed on a discretionary basis and $87,244,677 is managed on a non- discretionary basis.