General Information Commerce Advisors, LLC (“Commerce Advisors”) was formed in 2009 and provides comprehensive wealth management services that include financial planning, investment strategy development and asset class selection services. Commerce Advisors is principally owned by Commerce Holdings, LLC (“CH”). The following paragraphs describe our services and fees. Refer to the description of each investment advisory service listed below for information on how we tailor our advisory services to your individual needs. As used in this brochure, the words "we," "our," and "us" refer to Commerce Advisors, LLC and the words "you," "your," and "client" refer to you as either a client or prospective client of our firm. At the outset of each client relationship, Commerce Advisors spends time with the client, asking questions, discussing the client’s investment experience and financial circumstances, and broadly identifying major goals and needs of the client. For those financial planning clients making this election, and for other clients who do not need financial planning but retain Commerce Advisors for portfolio management services, based on all the information initially gathered, Commerce Advisors generally develops with each client:
• a financial outline for the client based on the client’s financial circumstances and goals, and the client’s risk tolerance level (the “Financial Profile”); and
• the client’s investment objectives and guidelines (the “Investment Plan”). The Financial Profile is a reflection of the client’s current financial picture and a look to the future goals of the client. The Investment Plan outlines the types of investments Commerce Advisors will make or recommend on behalf of the client to meet those goals. The Profile and the Plan are discussed regularly with each client, but are not necessarily written documents. Services offered consist of: Financial Planning Commerce Advisors offers financial planning services to those clients in need of such service in conjunction with Portfolio Management services. Commerce Advisors’ financial planning services normally address areas such as financial condition review, general cash flow planning, retirement planning, and insurance analysis. The goal of this service is to assess the financial circumstances of the client to more effectively develop the client’s Investment Plan, overall risk profile and liquidity needs. Financial Planning can be offered as a stand-alone service for a separate fee but is typically provided in conjunction with the management of the portfolio. Portfolio Management As described above, at the beginning of a client relationship, Commerce Advisors meets with the client, gathers information, and performs research and analysis as necessary to develop the client’s Investment Plan. The Investment Plan may be updated from time to time when requested by the client, or when determined to be necessary or advisable by Commerce Advisors based on updates to the client’s financial or other circumstances. To implement the client’s Investment Plan, Commerce Advisors will manage the client’s investment portfolio on a discretionary or a non-discretionary basis. As a discretionary investment adviser, Commerce Advisors will have the authority to supervise and direct the portfolio without prior consultation with the client. Under a non-discretionary arrangement, clients must be contacted prior to the execution of any trade in the account(s) under management. This may result in a delay in executing recommended trades, which could adversely affect the performance of the portfolio. This delay also normally means the affected account(s) will not be able to participate in block trades, a practice designed to enhance the execution quality, timing and/or cost for all accounts included in the block. In a non-discretionary arrangement, the client retains the responsibility for the final decision on all actions taken with respect to the portfolio. Notwithstanding the foregoing, clients may impose certain written restrictions on Commerce Advisors in the management of their investment portfolios, such as prohibiting the inclusion of certain types of investments in an investment portfolio or prohibiting the sale of certain investments held in the account at the commencement of the relationship. Each client should note, however, that restrictions imposed by a client may adversely affect the composition and performance of the client’s investment portfolio. Each client should also note that his or her investment portfolio is treated individually by giving consideration to each purchase or sale for the client’s account. For these and other reasons, performance of client investment portfolios within the same investment objectives, goals and/or risk tolerance may differ and clients should not expect that the composition or performance of their investment portfolios would necessarily be consistent with similar clients of Commerce Advisors. Retirement Plan Advisory Services Establishing a sound fiduciary governance process is vital to good decision-making and to ensuring that prudent procedural steps are followed in making investment decisions. Commerce Advisors will provide Retirement Plan consulting services to Plans and Plan Fiduciaries as described below. The particular services provided will be detailed in the Investment Advisory Agreement. The appropriate Plan Fiduciary(ies) designated in the Plan documents (e.g., the Plan sponsor or named fiduciary) will (i) make the decision to retain our firm; (ii) agree to the scope of the services that we will provide; and (iii) make the ultimate decision as to accepting any of the recommendations that we may provide. The Plan Fiduciaries are free to seek independent advice about the appropriateness of any recommended services for the Plan. Retirement Plan consulting services may be offered individually or as part of a comprehensive

suite of services. The Employee Retirement Income Security Act of 1974 (“ERISA”) sets forth rules under which Plan Fiduciaries may retain investment advisers for various types of services with respect to Plan assets. For certain services, Commerce Advisors will be considered a fiduciary under ERISA. For example, Commerce Advisors will act as an ERISA § 3(21) fiduciary when providing non-discretionary investment advice to the Plan Fiduciaries by recommending a suite of investments as choices among which Plan Participants may select. Also, to the extent that the Plan Fiduciaries retain Commerce Advisors to act as an investment manager within the meaning of ERISA § 3(38), Commerce Advisors will provide discretionary investment management services to the Plan. With respect to any account for which Commerce Advisors meets the definition of a fiduciary under Department of Labor rules, Commerce Advisors acknowledges that both Commerce Advisors and its Related Persons are acting as fiduciaries. Additional disclosure may be found elsewhere in this Brochure or in the written agreement between Commerce Advisors and Client. Fiduciary Consulting Services
• Investment Selection Services - Commerce Advisors will provide Plan Fiduciaries with recommendations of investment options consistent with ERISA section 404(c). Plan Fiduciaries retain responsibility for the final determination of investment options and for compliance with ERISA section 404(c).
• Non-Discretionary Investment Advice - Commerce Advisors provides Plan Fiduciaries and Plan Participants general, non-discretionary investment advice regarding asset classes and investments.
• Investment Monitoring - Commerce Advisors will assist in monitoring the plan’s investment options by preparing periodic investment reports that document investment performance, consistency of fund management and conformation to the guidelines set forth in the investment policy statement and Commerce Advisors will make recommendations to maintain or remove and replace investment options. The details of this aspect of service will be enumerated in the engagement agreement between the parties. Fiduciary Management Services
• Discretionary Management Services - When retained as an investment manager within the meaning of ERISA § 3(38), Commerce Advisors provides continuous and ongoing supervision over the designated retirement plan assets. Commerce Advisors will actively monitor the designated retirement plan assets and provide ongoing management of the assets. When applicable, Commerce Advisors will have discretionary authority to make all decisions to buy, sell or hold securities, cash or other investments for the designated retirement plan assets in our sole discretion without first consulting with the Plan Fiduciaries. We also have the power and authority to carry out these decisions by giving instructions, on your behalf, to brokers and dealers and the qualified custodian(s) of the Plan for our management of the designated retirement plan assets.
• Discretionary Investment Selection Services - Commerce Advisors will monitor the investment options of the Plan and add or remove investment options for the Plan without prior consultation with the Plan Fiduciaries. Commerce Advisors will have discretionary authority to make and implement all decisions regarding the investment options that are available to Plan Participants.
• Investment Management via Model Portfolios - Commerce Advisors will provide discretionary management of Model Portfolios among which the participants may choose to invest as Plan options. Plan Participants will also have the option of investing only in options that do not include Model Portfolios (i.e., the Plan Participants may elect to invest in one or more of the mutual fund options made available in the Plan, and choose not to invest in the Model Portfolios at all). IRA Rollover Recommendations Effective December 20, 2021 (or such later date as the US Department of Labor (“DOL”) Field Assistance Bulletin 2018-02 ceases to be in effect), for purposes of complying with the DOL’s Prohibited Transaction Exemption 2020-02 (“PTE 2020-02”) where applicable, we are providing the following acknowledgment to you. When we provide investment advice to you regarding your retirement plan account or individual retirement account, we are fiduciaries 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. The way we make money creates some conflicts with your interests, so we operate under a special rule that requires us to act in your best interest and not put our interest ahead of yours. Under this special rule’s provisions, we must:
• Meet a professional standard of care when making investment recommendations (give prudent advice);
• Never put our financial interests ahead of yours when making recommendations (give loyal advice);
• Avoid misleading statements about conflicts of interest, fees, and investments;
• Follow policies and procedures designed to ensure that we give advice that is in your best interest;
• Charge no more than is reasonable for our services; and
• Give you basic information about conflicts of interest. We benefit financially from the rollover of your assets from a retirement account to an account that we manage or provide investment advice, because the assets increase our assets under management and, in turn, our advisory fees. As a fiduciary, we only recommend a rollover when we believe it is in your best interest. Assets Under Management As of December 31, 2023, we provide continuous management services for $214,527,256 in client assets on a discretionary basis, and $12,947,910 in client assets on a non-discretionary basis.