Schrum Private Wealth Management, LLC (“Schrum Private Wealth,” “we,” “us,” “our,” “the Firm”) is an investment adviser (“adviser” or “RIA”) registered with the Securities and Exchange Commission (“SEC”). Schrum Private Wealth Management became an RIA in 2021. Prior to becoming an RIA, the owner and Chief Executive Officer of the firm, Owen L. Schrum, provided advisory services to clients through different RIAs. Schrum Private Wealth offers a variety of advisory services, which includes investment and wealth management and financial planning. Schrum Private Wealth specializes in providing advisory services to high-net worth clients as well as individuals (together “clients” or “you”). Clients meet with an Investment Advisor Representative (“Advisor,” “IARs” or “Wealth Manager”) to determine if an investment management account is in their best interest, uncover their investment goals and objectives, determine suitable investment strategies, review portfolios with the clients, and if there were any changes to the client’s financial goals and objectives, we will adjust the portfolio holdings and/or allocations accordingly. Wealth Managers also work with clients to create financial plans. Schrum Private Wealth’s principal place of business is located in Saint Augustine, Florida. Schrum Wealth Management is a limited liability company whose shares are solely owned by Mr. Owen L. Schrum. Schrum Private Wealth is a Fiduciary to You In serving as an investment adviser to its clients, Schrum Private Wealth is a fiduciary. Schrum Private Wealth is registered under the Investment Adviser Act of 1940, as amended (“Advisers Act”), which places a fiduciary obligation on Schrum Private Wealth in terms of the way Schrum Private Wealth provides advisory services to its clients. In addition, Schrum Private Wealth provides services as a “fiduciary” (as the term is defined in Section 3(21)(A) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and/or Section 4975 of the Internal Revenue Code of 1986, as amended (“the Code”)), with respect to Retirement Accounts. For the purposes of this Brochure, the term “Retirement Account” is used to cover certain retirement plans under Title I of ERISA, which includes Individual Retirement Accounts (“IRAs”). As a fiduciary, Schrum Private Wealth’s responsibility is to make sure your best interests come first. Schrum Private Wealth provides you with full disclosure of all material facts relating to its investment advisory relationship with you. The advisory services are designed to avoid conflicts of interest. In situations where the appearance of, or potential for, such conflict is unavoidable, Schrum Private Wealth will disclose the details to you. Schrum Private Wealth will provide you with objective investment advice. Portfolio investments and asset allocation decisions, along with financial planning, are subject to a due diligence process by our experienced investment professionals. Schrum Private Wealth investment strategy recommendations are provided to you only after we thoroughly review your investment goals, financial situation, liquidity needs, tax sensitivity and risk tolerance (together “Investor Profile”). We will provide ongoing investment advice to you and if your goals change, we will work with you to keep your investment strategy in-line with those changes. Schrum Private Wealth will provide ongoing monitoring of your portfolios and make changes to the portfolio holdings and asset allocations as necessary. Prior to Schrum Private Wealth rendering any advisory services, clients are required to enter into one or more written agreements with Schrum Private Wealth setting forth the relevant terms and conditions of the advisory relationship (the “Advisory Agreement” or “Wealth Management Agreement”). A client agreement may be canceled at any time, by either party, for any reason upon receipt of 30 days written notice. While this brochure generally describes the business of Schrum Private Wealth, certain sections also discuss the activities of the Firm’s officers, directors (or other persons occupying a similar status or performing similar functions), Wealth Managers, employees, or other persons (together “Supervised Persons”) who provide investment advice on Schrum Private Wealth’s behalf and are subject to the Firm’s supervision or control. Investment and Wealth Management Services Our firm provides ongoing discretionary portfolio management to clients. Schrum Private Wealth’s Investment and Wealth Management Services primarily allocates client assets among various mutual funds, exchange-traded funds (“ETFs”), equity securities, such as stocks, individual debt securities, such as bonds, and money market funds. In limited situations, we manage accounts on a non-discretionary basis. Schrum Private Wealth tailors its advisory services to meet the needs of its individual clients and works on a continuous basis to manage client portfolios in a manner consistent with those needs and objectives. The Firm consults with clients on an initial and ongoing basis to assess their Investor Profile and review their portfolio. Clients are advised to promptly notify us if there are changes in their financial situation or if they wish to place any limitations on the management of their portfolios. Clients can impose reasonable restrictions or mandates on the management of their accounts if Schrum Private Wealth determines, in its sole discretion, the conditions would not materially impact the performance of a management strategy or prove overly burdensome to the Firm’s management efforts. Where appropriate, the Firm also provides advice about any type of legacy position that clients would like to maintain in their portfolio, but clients should not assume that these assets are being continuously monitored or otherwise advised on by the Firm unless specifically agreed upon. Financial Planning and Consulting Services Schrum Private Wealth offers financial planning and consulting services that focus on educating our clients, clarifying their overall financial situation, determining our client’s specific long-term goals, and establishing a road map to help them achieve those goals. Clients who engage in our financial planning services are provided with a written financial plan and a consultative session to discuss detailed steps and recommendations to execute the plan. Financial planning is an evaluation of a client’s current and future financial state by using known variables to help model or forecast future cash flows, asset values, and portfolio withdrawal plans. During the financial planning process, we ask an extensive number of questions in order for you to provide us with the necessary information to help us analyze, review, and build your financial plan. Schrum Private Wealth offers clients a broad range of financial planning and consulting services, which include all of the functions below. The Firm, at the direction of the client, can arrange to coordinate with the client’s accountants and attorneys for estate and tax planning.
• Business Planning
• Cash Flow Analysis
• Trust and Estate Planning
• Insurance Analysis
• Retirement Planning
• Risk Management Analysis
• Tax Analysis and Planning
• Education Planning In performing any of its services, Schrum Private Wealth is expressly authorized through the written financial planning agreement to rely on the information received from the client or from the client’s other professionals (e.g., attorneys, accountants, etc.) and is not required to verify any information received from the client or from the client’s other professionals. Where appropriate, Schrum Private Wealth may recommend that certain clients engage with its Supervised Persons in their individual capacities as insurance agents to implement its recommendations. Clients are advised that a conflict of interest exists for the Firm to recommend that clients engage Schrum Private Wealth or its affiliates to provide (or continue to provide) additional services for compensation. While we exercise investment discretion for our advisory clients, clients retain authority over all investment strategy decisions regarding implementation of any recommendations made by Schrum Private Wealth representatives under a financial planning, consulting engagement, or insurance consultation. Clients are advised that it remains their responsibility to promptly notify the Firm of any change in their financial situation or investment objectives for the purpose of reviewing, evaluating, or revising Schrum Private Wealth’s recommendations and/or services. Amount of Managed Assets As of December 31, 2023, the end of our fiscal year, the Firm had approximately $146,854,200 in assets under management on a discretionary basis. Item 5. Fees and Compensation Investment and Wealth Management Fees Clients pay an asset based annual fee (“Annual Advisory Fee” or “Management Fee”) for Investment and Wealth Management Services. The Annual Advisory

Fee is calculated based upon a percentage of assets under management and generally range from .45% to 1.5%, depending on the size and composition of a client’s portfolio, the type and amount of services rendered and the individual(s) providing the services. Each client’s Tiered Management Fee Schedule is disclosed in the Advisory Agreement. The Annual Advisory Fee is billed monthly, in arrears, and calculated using the average daily balance. Fees will be debited from the account in accordance with the client authorization in the Advisory Agreement. Alternatively, the Firm may charge a flat fixed advisory fee, which is individually negotiated and based upon a number of factors including the size and composition of a client’s portfolio, the type and amount of services rendered and the individual(s) providing the investment management services. We retain the discretion to negotiate alternative fee schedules on a client-by-client basis. For example, Schrum Private Wealth can negotiate a fee schedule that is either higher or lower from the range set forth above. The client’s specific required investment management services are considered in determining the fee schedule. We also consider additional factors such as the complexity of the client, assets to be placed under management, anticipated future deposit of additional assets, related accounts, portfolio style, account composition, reports, and other factors. In addition to our advisory fees, clients are also responsible for the fees and expenses charged by custodians or broker dealers used to execute trades, including but not limited to, any transaction charges. Please refer to the "Brokerage Practices" section (Item 12) of this brochure for additional information. All fees paid to us for investment advisory services are separate and distinct from the fees and expenses charged by mutual funds and/or ETFs to their shareholders. These fees and expenses are described in each fund's prospectus. These fees will generally include a management fee, other fund expenses, and a possible distribution fee. Schrum Private Wealth primarily invests in “no- load” or load waived mutual funds. When feasible, the Firm selects institutional mutual fund share classes that typically charge lower underlying fees and expenses. A client could invest in a mutual fund directly, without our services. In that case, the client would not receive the services provided by our firm which are designed, among other things, to assist the client in determining which mutual fund or funds are most appropriate to each client's financial condition and objectives. Accordingly, the client should review both the fees charged by the funds and our fees to fully understand the total amount of fees to be paid by the client and to thereby evaluate the advisory services being provided. Schrum Private Wealth treats cash as an asset class. As such, all cash positions (i.e., money markets, etc.) shall be included as part of assets under management for purposes of calculating the Annual Advisory Fee. At any specific point in time, depending upon perceived or anticipated market conditions or events (there being no guarantee that such anticipated market conditions/events will occur), Schrum Private Wealth may maintain cash positions for defensive purposes. In addition, while assets are maintained in cash, such amounts could miss market advances. Further, depending upon current yields, at any point in time, the Schrum Private Wealth Annual Advisory Fee could exceed the interest paid by the client’s money market fund. There are no minimum account assets required for Investment Management Services. Schrum Private Wealth offers a discretionary householding advisory fee program, sometimes referred to as “accounts related for fee billing purposes,” whereby the firm can aggregate assets of multiple related Schrum Private Wealth accounts and apply the aggregated Account Market Values for purposes of calculating the Annual Advisory Fee for each client account. In certain circumstances, the aggregated Account Market Values allow individuals to reach a higher breakpoint on the Tiered Management Fee Schedule and pay a lower Annual Advisory Fee. Please note, the householding advisory fee program requires a common fee schedule among each of the household’s accounts. Financial Planning and Consulting Fees Schrum Private Wealth charges a fixed fee for providing financial planning and consulting services under a stand-alone engagement (“Financial Planning and Consulting Agreement”). These fees are negotiable, but range from $500 to $10,000, depending upon the scope and complexity of the financial planning and/or the consulting services. The scope of the agreement can be for a defined project, such as the delivery of a plan, or for ongoing services. If the client engages the Firm for additional investment advisory services, Schrum Private Wealth can offset all or a portion of its fees for those services based upon the amount paid for the financial planning and/or consulting services. The terms and conditions of the financial planning and/or consulting engagement are set forth in the Financial Planning Agreement. For project-based services Schrum Private Wealth requires one-half of the fee (estimated hourly or fixed) payable upon execution of the Financial Planning Agreement. The outstanding balance is due upon delivery of the financial plan or completion of the agreed upon services. Ongoing services are charged as described in the investment management section, below. The Firm does not, however, take receipt of $1,200 or more in prepaid fees, six or more months in advance of services rendered. Account Deposits and Withdrawals Clients can make deposits to and withdrawals from their account at any time, subject to Schrum Private Wealth’s right to terminate an account. Deposits can be in cash or securities provided that the Firm reserves the right to liquidate or decline any transferred securities. Clients can withdraw account assets on notice to Schrum Private Wealth, subject to the usual and customary securities settlement procedures. However, the Firm designs its portfolios as long-term investments, and the withdrawal of assets may impair the achievement of a client’s investment objectives. Schrum Private Wealth may consult with its clients about the options and implications of transferring securities. Clients are advised that when transferred securities are liquidated, they may be subject to transaction fees, short-term redemption fees, fees assessed at the mutual fund level (e.g., contingent deferred sales charges) and/or tax ramifications. Conflicts of Interest Conflicts of interest or potential conflicts of interest commonly refer to activities or relationships in which Schrum Private Wealth and/or an IAR’s interest compete with the interests of our clients. A conflict of interest arises when the conflict could incline Schrum Private Wealth or an IAR to provide advice to you that is influenced by considerations of firm or personal advantages. Schrum Private Wealth is obligated to disclose these conflicts to make you aware of them as you evaluate Schrum Private Wealth’s advice and services. Retirement Account 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). If Schrum Private Wealth recommends clients roll over their retirement plan assets into an account to be managed by Schrum Private Wealth, such a recommendation creates a conflict of interest since Schrum Private Wealth will earn new (or increase its current) compensation as a result of the rollover. If Schrum Private Wealth provides a recommendation as to whether a client should engage in a rollover or not, Schrum Private Wealth 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 Schrum Private Wealth. Different Advice Schrum Private Wealth could give different advice, take different action, receive more or less compensation, or hold or invest in different securities from another client or account, including the accounts of the Wealth Managers. For further information on potential conflicts of interest, please see “Other Financial Industry Activities and Affiliations” in Item 10, “Code of Ethics, Participation or Interest in Client Transactions and Personal Trading” in Item 11, and “Brokerage Practices” in Item 12 of this Brochure.