APRICUS WEALTH LLC

2015 Boundary Street Suite 309 Beaufort, SC 29902 (610)-329-4899 ADV PART 2A Investment Adviser Brochure February 12, 2026 This brochure provides information about the qualifications and business practices of Apricus Wealth LLC (“Apricus Wealth” or “Firm”). If you have any questions about the contents of this brochure, please contact us at 610-329-4899 or joe@apricuswealth.com. The information in this brochure has not been approved or verified by the United States Securities and Exchange Commission or by any state securities authority. information about Apricus Wealth is also available on the SEC's website at Additional www.adviserinfo.sec.gov. The searchable IARD/CRD number for Apricus Wealth is 306239. 1  Item 2 Material Changes This section of the Brochure will address only those “material changes” that have been incorporated since our last delivery or posting of this document on the SEC’s public disclosure website (IAPD) www.adviserinfo.sec.gov. Since our last Annual Amendment ADV filing on February 6, 2025, the following are material changes to our firm: • There are no material changes to disclose. You can request the most recent version of this Brochure, free of charge, by contacting the Firm at (610) 329-4889 or joe@apricuswealth.com. You can also obtain a copy by going to the SEC’s website at www.adviserinfo.sec.gov. 2  Item 3 Table of Contents Contents Item 2 Material Changes ............................................................................................................................ 2 Item 3 Table of Contents ............................................................................................................................ 3 Item 4 Advisory Business ........................................................................................................................... 4 Item 5 Fees and Compensation ................................................................................................................. 6 Item 6 Performance-Based Fees and Side-By-Side Management ............................................................. 8 Item 7 Types of Clients ............................................................................................................................... 9 Item 8 Methods of Analysis, Investment Strategies, and Risk of Loss ..................................................... 10 Item 9 Disciplinary Information ............................................................................................................... 14 Item 10 Other Financial Industry Activities and Affiliations .................................................................... 15 Item 11 Code of Ethics, Participation in Client Transactions, and Personal Trading ............................... 16 Item 12 Brokerage Practices .................................................................................................................... 17 Item 13 Review of Accounts ..................................................................................................................... 20 Item 14 Client Referrals and Other Compensation .................................................................................. 21 Item 15 Custody ....................................................................................................................................... 22 Item 16 Investment Discretion ................................................................................................................ 23 Item 17 Voting Client Securities ............................................................................................................... 24 Item 18 Financial Information .................................................................................................................. 25 3  Item 4 Advisory Business Apricus Wealth is a registered investment adviser based in Beaufort, South Carolina. We are organized as a limited liability company under the laws of the State of Pennsylvania. Joseph J. Costigan is our firm's principal owner and chief compliance officer. Apricus Wealth became a registered investment adviser on February 5, 2020. Description of Services We offer discretionary investment management services. Our investment advice is tailored to meet our client's needs and investment objectives. If you retain our firm for portfolio management services, we will meet with you to determine your investment objectives, risk tolerance, and other relevant information at the beginning of our advisory relationship. We will use the information we gather to develop a strategy that enables our firm to give you ongoing and focused investment advice and/or to make investments on your behalf. Once we construct an investment portfolio for you, we will monitor your portfolio's performance and will rebalance the portfolio as required by changes in market conditions and your financial circumstances. Discretionary authority is typically granted by the investment advisory agreement you sign with our firm, a power of attorney, or trading authorization forms. Discretionary authorization will allow our firm to determine the specific securities, and the amount of securities, to be purchased or sold for your account without your approval before each transaction. You may limit our discretionary authority (for example, limiting the types of securities that can be purchased for your account) by providing our firm with your restrictions and guidelines in writing. We do have limited authority to direct the Custodian to deduct our investment advisory fees from your accounts, but only with the appropriate written authorization from you. Where appropriate, we provide advice about any type of legacy position held in client portfolios. Typically, these are ineligible assets to be custodied at our primary custodian. Clients will engage us to advise on certain investment products that are not maintained at their primary custodian, such as annuity contracts and assets held in employer sponsored retirement plans and qualified tuition plans (i.e., 529 plans). You are advised and are expected to understand that our past performance is not a guarantee of future results. Certain market and economic risks exist that adversely affect an account’s performance. This could result in capital losses in your account. Financial Planning We offer financial planning services but do not charge separately for this service. Our financial planning services may be general in nature or focused on particular areas of interest or request, depending on each client's unique circumstances and goals. Financial planning advice is offered in the areas of goal setting, cash flow and debt management, retirement planning, investment planning, college education funding, tax planning, and estate planning as applicable. We offer such services as requested by the client and the client is responsible for implementing, accepting, or rejecting any plans we may present. We do not serve as an attorney, accountant, or insurance agent and no portion of our services should be construed as the same. To the extent requested by a client, we may recommend the services of other professionals for certain non- investment implementation purposes. You are under no obligation to engage the services of any such recommended professional. The client retains absolute discretion over all such implementation decisions and 4  is free to accept or reject any recommendation that we make. Please note: If the client engages any unaffiliated recommended professional, and a dispute arises thereafter relative to such engagement, the client agrees to resolve the dispute directly with the engaged professional. Types of Investments In general, we offer advice on equity securities, ETFs, corporate debt securities, commercial paper, certificates of deposit, municipal securities, mutual funds, U.S. Government securities, interests in partnerships investing in real estate and oil and gas interests, and other investments. You may request that we refrain from investing in particular securities or certain types of securities. You must provide these restrictions to our firm in writing. Client Obligation As we act on your behalf, offer our services, and communicate and adjust recommendations to you, Apricus Wealth will use information received from you, your other advisors, and your designees. You are directing Apricus Wealth, LLC to rely on this information and understand that we are not responsible for verifying it. Please keep us updated in writing about all changes to your financial situation, investment objectives, or goals so we may promptly make adjustments. We also ask that you keep us updated on your addresses, phone numbers, email addresses, and any other information that will help us serve you. Tailoring Services The Firm employs a specific strategy with respect to the management of assets. The Firm believes that this strategy is uniquely tailored to meet the needs of the clients that it will serve. Additionally, clients may impose restrictions on the Firm’s investment in certain securities or types of securities, and these restrictions will be set forth in the client’s investment policy statement. Wrap Fee Programs The Firm does not participate in wrap fee programs. Assets Under Management As of December 31, 2025, the Firm has $355,686,441 in regulatory assets under management. All of the Firm’s assets under management will be managed on a discretionary basis. 5  Item 5 Fees and Compensation Our fee for advisory services is based on a percentage according to the value of the assets we manage for you and is set forth in the following fee schedule: Assets Under Management Annual Fee First $2,000,000 $2,000,001 and $5,000,000 $5,000,001 and above 1.00% 0.75% 0.50% Our fee schedule is blended. This means an account valued at $3,000,000 will pay 1.00% on the first $2,000,000 and .75% on the remaining $1,000,000. Our minimum account size is generally $3 Million and as a result, our minimum fee is generally. $27,500 per year. All account minimums and investment management fees charged by Apricus Wealth are subject to negotiation. The amount of the fee is reviewed on a case-by-case basis depending upon several factors including assets invested, the amount of attention required to manage the relationship, and the amount of work involved. Our management fee will be based on the value of your account(s). Our fees will be calculated in arrears each calendar quarter by taking the average daily market value for the period and prorating our annual fee based on the number of days in the quarter. Our fees for partial periods will also be prorated based on the number of days under management. Fees are assessed on all assets under management. Money Market accounts and Margin account balances are not included in the fee billing. There may be a possibility for price or account value discrepancies due to quarter-end transactions in an account. Dividends or trade date settlements may occur and our third-party billing software may report a slight difference in account valuation at quarter end compared to what is reported on your Statement from the Custodian. Our firm can produce billing summaries, which can be provided upon request. Our fee schedule is listed on the signature page of the Investment Management Agreement. Custodians, fund managers, and brokers may charge commissions or other transaction fees. A percentage of such fees may be used to provide research services to Apricus Wealth. Exchange Traded Funds and Exchange Traded notes if owned in your portfolio will be included in the portfolios’ market values for the purpose of calculating our fees. Pooled investments often incur fees and expenses which are passed onto their investors. These fees and expenses are detailed in the prospectuses for those investments. At our discretion, we may combine the account values of family members living in the same household to determine the applicable advisory fee. For example, we may combine account values for you and your minor children, joint accounts with your spouse, and other types of related accounts. Combining account values may increase the asset total, which may result in your paying a reduced advisory fee based on the available breakpoints in our fee schedule stated above. Prior to engaging Apricus Wealth to provide investment management services, the client will be required to enter into a formal Investment Management Agreement with Apricus Wealth setting forth the terms and conditions under which Apricus Wealth shall advise on the client's assets, and a separate custodial/clearing agreement with each designated broker-dealer/custodian. 6  We will deduct our fee directly from your account through the qualified custodian holding your funds and securities. We will deduct our advisory fee only when you have given our firm written authorization permitting the fees to be paid directly from your account. Further, the qualified custodian will deliver an account statement to you at least quarterly. These account statements will show all disbursements from your account. You should review all statements for accuracy. We will also receive a duplicate copy of your account statements. You may terminate the portfolio management agreement at any time. You will incur a pro-rata charge for services rendered prior to the termination of the portfolio management agreement, which means you will incur advisory fees only in proportion to the number of days in the quarter for which you are a client. Additional Fees and Expenses As part of our investment advisory services to you, we may invest, or recommend that you invest, in mutual funds and exchange-traded funds. The fees that you pay to our firm for investment advisory services are separate and distinct from the fees and expenses charged by mutual funds or exchange-traded funds (described in each fund's prospectus) to their shareholders. These fees will generally include a management fee and other fund expenses. You will also incur transaction charges and/or brokerage fees when purchasing or selling securities. These charges and fees are typically imposed by the broker-dealer or custodian through whom your account transactions are executed. We do not share in any portion of the brokerage fees/transaction charges imposed by the broker-dealer or custodian. To fully understand the total cost you will incur, you should review all the fees charged by mutual funds, exchange-traded funds, our firm, and others. For information on our brokerage practices, please refer to the "Brokerage Practices" section of this brochure. Retirement Rollovers-Potential for Conflict of Interest 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 their former retirement plan, if permitted, (ii) roll over the assets to the new employer's plan, if available and permitted, (iii) roll over to an IRA or (iv) cash out the account value (which could have adverse tax consequences). If we recommend that a client roll over their retirement plan assets into an account to be managed by Apricus Wealth, such a recommendation creates a conflict of interest if Apricus Wealth will earn an advisory fee on the rolled-over assets. No client is under any obligation to roll over retirement plan assets to an account managed by Apricus Wealth. Accordingly, Apricus operates under a special rule, PTE 2020-02, that requires the Firm to act in the client or prospect’s best interest and not put its own interest ahead of the client’s or prospect's. Joseph Costigan remains available to address any questions that a client or prospective client may have regarding the potential for conflict of interest presented by such roll-over recommendation. Administrative Services Provided by Orion Adviser Services, LLC We have contracted with Orion Adviser Services, LLC to utilize its technology platforms to support data reconciliation, performance reporting, fee calculation and billing, research, client database maintenance, quarterly performance evaluations, payable reports, and other functions related to the administrative tasks of managing client accounts. Due to this arrangement, Orion Adviser Services, LLC will have access to client accounts, but Orion Adviser Services, LLC will not serve as an investment adviser to our clients. Apricus and Orion Adviser Services, LLC are non-affiliated companies. Orion Adviser Services, LLC charges our Firm an annual fee for each account administered by Orion Adviser Services, LLC. Please note that the fee charged to the client will not increase due to the annual fee Apricus pays to Orion Adviser Services, LLC, the annual fee is paid from the portion of the management fee retained by Apricus. 7  Item 6 Performance-Based Fees and Side-By-Side Management We do not accept performance-based fees or participate in side-by-side management. Side-by-side management refers to the practice of managing accounts that are charged performance-based fees while at the same time managing accounts that are not charged performance-based fees. Performance-based fees are fees that are based on a share of capital gains or capital appreciation of a client's account. Our fees are calculated as described in the Advisory Business section above and are not charged based on a share of capital gains upon, or capital appreciation of, the funds in your advisory account. 8  Item 7 Types of Clients We offer investment advisory services to individuals, pension and profit-sharing plans or participants, trusts, estates, charitable organizations, corporations, and other business entities. In general, we require a minimum of $3,000,000 to open and maintain an advisory account. Apricus Wealth, in its sole discretion, may charge a lesser investment management fee and/or waive the $3,000,000 minimum portfolio size based upon certain criteria (i.e. anticipated future earning capacity, anticipated, future additional assets, the dollar amount of assets to be managed, related accounts, composition, negotiations, employee accounts, etc.) We may also combine account values for you and your minor children, joint accounts with your spouse, and other types of related accounts to meet the stated minimum. 9  Item 8 Methods of Analysis, Investment Strategies, and Risk of Loss We may use one or more of the following methods of analysis or investment strategies when providing investment advice to you: Fundamental Analysis - involves analyzing individual companies and their industry groups, such as a company's financial statements, details regarding the company's product line, the experience and expertise of the company's management, and the outlook for the company's industry. The resulting data is used to measure the true value of the company's stock compared to the current market value. The risk of fundamental analysis is that information obtained may be incorrect and the analysis may not provide an accurate estimate of earnings, which may be the basis for a stock's value. If securities prices adjust rapidly to new information, utilizing fundamental analysis may not result in favorable performance. Technical Analysis - involves studying past price patterns and trends in the financial markets to predict the direction of both the overall market and specific stocks. The risk of market timing based on technical analysis is that charts may not accurately predict future price movements. Current prices of securities may reflect all information known about the security and day-to-day changes in market prices of securities may follow random patterns and may not be predictable with any reliable degree of accuracy. Long Term Purchases - securities purchased with the expectation that the value of those securities will grow over a relatively long period of time, generally greater than one year. Long-term purchases may be affected by unforeseen long-term changes in the company in which you are invested or in the overall market. Our investment strategies and advice may vary depending on each client's specific financial situation. As such, we determine investments and allocations based on your predefined objectives, risk tolerance, time horizon, financial horizon, financial information, liquidity needs, and other various suitability factors. Your restrictions and guidelines may affect the composition of your portfolio. Our strategies and investments may have unique and significant tax implications. However, unless we specifically agree otherwise, and in writing, tax efficiency is not our primary consideration in the management of your assets. Regardless of your account size or any other factors, we strongly recommend that you continuously consult with a tax professional prior to and throughout the investing of your assets. Moreover, as a result of revised IRS regulations, custodians and broker-dealers will begin reporting the cost basis of equities acquired in client accounts on or after January 1, 2011. Your custodian will default to the Tax- Efficient accounting method for calculating the cost basis of your investments. You are responsible for contacting your tax adviser to determine if this accounting method is the right choice for you. If your tax adviser believes another accounting method is more advantageous, please provide written notice to our firm immediately and we will alert the account custodian of your individually selected accounting method. Please note that decisions about cost basis accounting methods will need to be made before trades settle, as the cost basis method cannot be changed after settlement. 10  Risk of Loss Investing in securities involves a risk of loss that you should be prepared to bear. We do not represent or guarantee that our services or methods of analysis can or will predict future results, successfully identify market tops or bottoms, or insulate clients from losses due to market corrections or declines. We cannot offer any guarantees or promises that your financial goals and objectives will be met. Past performance is in no way an indication of future performance. It should not be assumed that the future performance of any specific investment strategy (including the investments and/or investment strategies recommended or undertaken by Apricus Wealth) will be profitable or equal to any specific performance level. Investment Risk Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy (including the investments or investment strategies recommended or undertaken by Apricus Wealth) will be profitable or equal to any specific performance level(s). Interest Rate Risk Fluctuations in interest rates may cause investment prices to fluctuate. For example, when interest rates rise, yields on existing bonds become less attractive, causing their market values to decline. Market Risk The price of a stock, bond, or mutual fund may drop in reaction to tangible and intangible events and conditions. This type of risk is caused by external factors independent of a security’s particular underlying circumstances. For example, political, economic, and social conditions may trigger market events. Business Risk These risks are associated with a particular industry or a particular company within an industry. For example, major drilling companies depend on finding oil and then refining it, a lengthy process, before they can generate a profit. They carry a higher risk of profitability than a utility company, which generates its income from a steady stream of customers who buy power or services no matter what the economic environment is like. Inflation Risk When any type of inflation is present, a dollar today will not buy as much as a dollar next year. Purchasing power is reduced because of inflation. Liquidity Risk Liquidity risk is the risk that investors may have difficulty finding a buyer when they want to sell and may be forced to sell at a significant discount to market value. Liquidity risk is greater for thinly traded securities such as lower-rated bonds, bonds that were part of a small issue, bonds that have recently had their credit rating downgraded, or bonds sold by an infrequent issuer. Service Provider Concentration Risk Apricus is reliant upon the proper performance of duties and obligations of its respective service providers. The Adviser may be adversely impacted materially if one or more service providers fail to adequately perform their functions. Key activities undertaken in connection with Apricus’ operations may be concentrated in one or more service providers or custodians which may expose Apricus to risks if a service provider or providers fail to perform. 11  International Risk International Markets typically present more risk than domestic markets. Investing in securities of non-U.S. governments and companies which are generally denominated in non-United States currencies and utilization of options on non-United States securities involves certain considerations comprising both risks and opportunities not typically associated with investing in securities of the United States government or United States companies. These considerations include changes in exchange rates and exchange control regulations, political and social instability, expropriation, imposition of foreign taxes, less liquid markets and less available information than is generally the case in the United States, higher transaction costs, less government supervision of exchanges, brokers, and issuers, greater risks associated with counterparties and settlement, difficulty in enforcing contractual obligations, lack of uniform accounting and auditing standards and greater price volatility. Recommendation of Particular Types of Securities As disclosed under the "Advisory Business" section in this Brochure, we generally recommend equities with a history of dividend growth. We consider each client's goals and risk tolerance in constructing their portfolio. Each type of security has its own unique set of risks associated with it and it would not be possible to list here all of the specific risks of every type of investment. Even within the same type of investment, risks can vary widely. However, in very general terms, the higher the anticipated return of an investment, the higher the risk of loss associated with it. Certain Risks Associated with Cybersecurity Investment advisers, including Apricus, must rely in part on digital and network technologies (collectively, “cyber networks”) to conduct their businesses. Such cyber networks, might in some circumstances, be at risk of cyber-attacks that could potentially seek unauthorized access to digital systems for purposes such as misappropriating sensitive information, corrupting data, or causing operational disruption. Cyber-attacks might potentially be carried out by persons using techniques that could range from efforts to electronically circumvent network security or overwhelm websites to intelligence gathering and social engineering functions aimed at obtaining information necessary to gain access. Apricus maintains an information technology security policy and certain technical and physical safeguards intended to protect the confidentiality of its internal data. Nevertheless, cyber incidents could potentially occur, and might in some circumstances result in unauthorized access to sensitive information about Apricus or its clients. Exchange-Traded Funds ETFs face market-trading risks, including the potential lack of an active market for shares, losses from trading in the secondary markets, and disruption in the creation/redemption process of the ETF. Any of these factors may lead to the fund’s shares trading at either a premium or a discount to its “net asset value.” Force Majeure Investments may be affected by force majeure events (i.e., events beyond the control of the party claiming that the event has occurred, including, without limitation, acts of God, fire, flood, earthquakes, outbreaks of infectious disease, pandemic, or any other serious public health concern, war, terrorism, labor strikes, major plant breakdowns, pipeline or electricity line ruptures, failure of technology, defective design, and construction, accidents, demographic changes, government macroeconomic policies, social instability, etc.). Some force majeure events may adversely affect the ability of a party (including a counterparty) to perform its obligations until it is able to remedy the force majeure event. In addition, forced events, such as the cessation of the operation of machinery for repair or upgrade, could similarly lead to the unavailability of essential machinery 12  and technologies. These risks could, among other effects, adversely impact the cash flows available, cause personal injury or loss of life, damage property, or instigate disruptions of service. In addition, the cost to a company of repairing or replacing damaged assets resulting from such a force majeure event could be considerable. Force majeure events that are incapable of or are too costly to cure may have a permanent adverse effect. Certain force majeure events (such as war or an outbreak of an infectious disease) could have a broader negative impact on the world economy and international business activity generally, or in any of the countries in which the Apricus may invest specifically. Additionally, a major governmental intervention into the industry, including the nationalization of an industry or the assertion of control over one or more companies or its assets, could result in a loss to Apricus and/or its clients. Any of the foregoing may therefore adversely affect the performance of Apricus clients. 13  Item 9 Disciplinary Information Neither our firm nor any of our Associated Persons has any reportable disciplinary information. 14  Item 10 Other Financial Industry Activities and Affiliations We have not provided information on other financial industry activities and affiliations because we are not related, through control or ownership, to any of the types of entities listed below. • A broker-dealer, municipal securities dealer, or government securities dealer or broker. • An investment company or other pooled investment vehicle (including a mutual fund, closed- end investment company, unit investment trust, private investment company or "hedge fund," and offshore fund). • Another investment adviser or financial planner. • A futures commission merchant, commodity pool operator, or commodity trading advisor. • A banking or thrift institution. • An accountant or accounting firm. • A lawyer or law firm. • An insurance company or agency. • A pension consultant. • A real estate broker or dealer. • A sponsor or syndicator of limited partnerships. 15  Item 11 Code of Ethics, Participation in Client Transactions, and Personal Trading Our Code of Ethics We strive to comply with applicable laws and regulations governing our practices. Therefore, our Code of Ethics includes guidelines for professional standards of conduct for our Associated Persons. Our goal is to always protect your interests and to demonstrate our commitment to our fiduciary duties of honesty, good faith, and fair dealing with you. All our Associated Persons are expected to adhere strictly to these guidelines. Our Code of Ethics also requires that certain persons associated with our firm submit reports of their personal account holdings and transactions to a qualified representative of our firm who will review these reports periodically. Persons associated with our firm are also required to report any violations of our Code of Ethics. Additionally, we maintain and enforce written policies reasonably designed to prevent the misuse or dissemination of material and non-public information about you or your account holdings by persons associated with our firm. Clients or prospective clients may obtain a copy of our Code of Ethics by contacting us at the telephone number or email address on the cover page of this brochure. Participation or Interest in Client Transactions Neither our firm nor any of our Associated Persons has any material financial interest in client transactions beyond the provision of investment advisory services as disclosed in this brochure. Personal Trading Practices Our firm or persons associated with our firm may buy or sell the same securities that we recommend to you or securities in which you are already invested. We may also combine our orders to purchase securities with your orders to purchase securities ("block trading"). Please refer to the "Brokerage Practices" section in this brochure for information on our block trading practices. A conflict of interest exists in such cases because we can trade ahead of you and potentially receive more favorable prices than you will receive. To eliminate this conflict of interest, it is our policy that neither our Associated Persons nor we shall have priority over your account in the purchase or sale of securities. Clients and prospective clients can request a copy of the Code by contacting the Firm at the email address or telephone number listed on the first page of this Brochure. 16  Item 12 Brokerage Practices Charles Schwab Apricus uses the brokerage and custodial services of Schwab Institutional, a division of Charles Schwab & Co., Inc. ("Schwab Institutional"), a securities broker-dealer and a member of NYSE/SIPC. Clients are advised that there may be transaction charges involved when purchasing or selling securities. Our firm does not share in any portion of the brokerage fees/transaction charges imposed by Schwab Institutional. Additionally, the commission/transaction fees charged by Schwab Institutional may be higher or lower than those charged by other broker-dealers/custodians. Schwab Institutional provides our firm with access to its institutional trading and operations services, which are typically not available to Schwab retail investors. These services generally are available to independent investment advisers at no charge to them so long as a total of at least $10 million of the adviser's clients' account assets are maintained at Schwab Institutional. Schwab Institutional services may include research, brokerage, custody, access to mutual funds, and other investments that are otherwise available only to institutional investors or would require significantly higher minimum initial investments. Schwab Institutional also makes available to our firm other products and services that benefit our firm but may not benefit its clients' accounts. These include software and other technology that provide access to client account data (such as trade confirmations and account statements), facilitate trade execution, provide research, pricing information, and other market data, and provide custodial services that facilitate payment of our firm's fees from its clients' accounts and clients reports. The availability to our firm of the foregoing products and services is not contingent upon our firm committing to Schwab Institutional any specific amount of business (assets in custody or trading). We believe that Schwab Institutional provides quality execution services at competitive prices. Price is not the sole factor we consider in evaluating best execution. We also consider the quality of the brokerage services provided by Schwab Institutional, including the value of research provided, the firm's reputation, execution capabilities, commission rates, and responsiveness to our clients and our firm. In recognition of the value of research services and additional brokerage products and services Schwab Institutional provides, you may pay higher commissions and/or trading costs than those that may be available elsewhere. Brokerage for Client Referrals We do not receive client referrals from broker-dealers in exchange for cash or other compensation, such as brokerage services or research. Non-Soft Dollar Research and Additional Benefits Although not a material consideration when determining whether to recommend that a client utilize the services of a particular broker-dealer/custodian, Apricus Wealth has received from Schwab and may in the future receive (or another broker-dealer/custodian, investment manager, platform or fund sponsor, or vendor) without cost (and/or at a discount) support services and/or products, certain of which assist Apricus Wealth to better monitor and service client accounts maintained at such institutions. Included within the support services that may be obtained by Apricus Wealth may be investment-related research, pricing information and market data, software and other technology that provide access to client account data, compliance and/or practice management- related publications, discounted or gratis consulting services, discounted and/or gratis attendance at conferences, meetings, and other educational and/or social events, marketing support-including client events, computer hardware and/or software and/or other products used by Apricus Wealth in 17  furtherance of its investment advisory business operations. Certain support services and/or products that may be received may assist Apricus Wealth in managing and administering client accounts. Others do not directly provide such assistance but rather assist Apricus Wealth in managing and further developing its business enterprise. Apricus Wealth’s clients do not pay more for investment transactions affected and/or assets maintained at these broker/dealers as a result of this arrangement. There is no corresponding commitment made by Apricus Wealth to Schwab, or any other entity to invest any specific amount or percentage of client assets in any specific mutual funds, securities, or other investment products as a result of the above arrangement. Directed Brokerage Apricus Wealth recommends that its clients utilize the brokerage and custodial services provided by Schwab. Apricus Wealth may accept directed brokerage arrangements (when a client requires that account transactions be affected through a specific broker-dealer). In such client-directed arrangements, the client will negotiate terms and arrangements for their account with that broker-dealer, and Apricus will not seek better execution services or prices from other broker-dealers or be able to "batch" the client's transactions for execution through other broker-dealers with orders for other accounts managed by Apricus. As a result, a client may pay higher commissions or other transaction costs or greater spreads, or receive less favorable net prices, on transactions for the account than would otherwise be the case. Please Note: If the client directs Apricus to effect securities transactions for the client's accounts through a specific broker-dealer, the client correspondingly acknowledges that such direction may cause the accounts to incur higher commissions or transaction costs than the accounts would otherwise incur had the client determined to effect account transactions through alternative clearing arrangements that may be available through Apricus. Higher transaction costs adversely impact account performance. Please Also Note: Transactions for directed accounts will generally be executed following the execution of portfolio transactions for non-directed accounts. Apricus periodically evaluates the services provided by the broker/dealers we recommend (Schwab) to determine if we are recommending the best service for our clients. Some of the criteria we use to evaluate these services are: Industry Reputation of the brokerage. • The brokerages' ability to service our clients. • • The ability to provide client statements and transaction reporting. • Existence of a robust and efficient trading platform. • A diverse offering of products and services. • Technology and educational resources. • Cost and speed of execution. • Financial stability of the brokerage. • Confidentiality and security of client information. • Responsiveness to our needs and inquiries, as well as client needs and inquiries. • Other factors that can bear on the overall evaluation of best execution. Trade away/Prime Broker Fees Relative to our discretionary investment management services, when beneficial to the client, Apricus Wealth may purchase individual fixed income securities through broker-dealers other than the account custodian, in 18  which event, the client generally will incur the fee (commission, mark-up, mark-down) charged by the executing broker-dealer and potentially, a separate "trade away" and/or prime broker fee charged by the account custodian. Internal Cross Transactions From time to time, we may affect a transaction between two or more of our managed accounts. In such transactions, one client account may purchase or sell a security to another client account. As a general rule, we will only facilitate cross transactions when we believe the trade is in the best interest of both parties. To approximate an arms-length transaction and as directed by relevant regulations, we will receive bids from the custodian on the open market who in turn will offer a buy and sell at the mid-point of the bids. The custodian retains all documentation for such transactions and is subject to periodic auditing of cross trades. In our effort to implement cross transactions, we will not receive any additional compensation other than our normal advisory fees, as disclosed in Item 5. Order Aggregation/Block trades Transactions for each client account generally will be affected independently, unless we decide to purchase or sell the same securities for several clients at approximately the same time. Apricus Wealth may (but is not obligated to) combine or "bundle" (aka block trades) such orders to obtain best execution, to negotiate more favorable commission rates, or to allocate equitably among Apricus Wealth client’s differences in prices and commissions or other transaction costs that might have been obtained had such orders been placed independently. Under this procedure, transactions will be averaged as to price and will be allocated among clients in proportion to the purchase and sale orders placed for each client account on any given day. These allocations are made at the custodian level. Apricus Wealth shall not receive any additional compensation or remuneration as a result of such aggregation. Joseph Costigan remains available to address any questions that a client or prospective client may have regarding the above arrangements and any corresponding perceived conflict of interest such arrangements may create. 19  Item 13 Review of Accounts Advisors, overseen by CCO Joseph Costigan, will monitor your account(s) on an ongoing basis to ensure that the portfolio management services provided to you are consistent with your stated investment needs and objectives. The level of review will vary depending on the complexity of the individual client portfolio. Additional reviews may be conducted based on various circumstances, including, but not limited to: • contributions and withdrawals, • year-end tax planning, • market moving events, • security specific events, and/or, • changes in your risk/return objectives. We will provide you with written reports at least quarterly and on an interim basis if requested. Reports we provide to you include the following: asset allocation, portfolio summary, account performance, and billing statement. In addition, you will receive trade confirmations and monthly or quarterly statements from your account custodian(s). 20  Item 14 Client Referrals and Other Compensation As referenced in Item 12 above, Apricus Wealth has received from Schwab, and may in the future receive, without cost (and/or at a discount), support services and/or products. Apricus Wealth’s clients do not pay more for investment transactions affected and/or assets maintained at these brokers/dealers as a result of this arrangement. There is no corresponding commitment made by Apricus Wealth to Schwab, or any other entity to invest any specific amount or percentage of client assets in any specific mutual funds, securities, or other investment products as a result of the above arrangements. Our Firm may be asked to recommend a financial professional, such as an attorney, accountant, or mortgage broker. In such cases, our Firm does not receive any direct compensation in return for any referrals made to individuals or firms in our professional network. Clients must independently evaluate these firms or individuals before engaging in business with them and clients have the right to choose any financial professional to conduct business. Individuals and firms in our financial professional network may refer clients to our Firm. Again, our Firm does not pay any direct compensation in return for any referrals made to our Firm. Our Firm does recognize the fiduciary responsibility to place the Client’s interests first and has established policies in this regard to mitigate any conflicts of interest. Our firm neither receives compensation for client referrals nor pays for client referrals. Providing Any Advisory Services for Economic Benefit to Non-Clients Apricus Wealth does not provide any investment advice or other advisory services for economic benefit to non- clients. Joseph Costigan remains available to address any questions that a client or prospective client may have regarding the above arrangements and any corresponding conflicts of interest such arrangements may create. 21  Item 15 Custody We do not have physical custody of any of your funds and/or securities. Your funds and securities will be held with a bank, broker-dealer, or other independent, qualified custodian. You will receive account statements from the independent, qualified custodian(s) holding your funds and securities at least quarterly. The account statements from your custodian(s) will indicate the amount of our advisory fees deducted from your account(s) each billing period. You should carefully review account statements for accuracy. We also provide a billing statement with our quarterly statements, so you understand how our fees are calculated. If you have a question regarding your account statement or if you did not receive a statement from your custodian, please contact us directly at the telephone number or email address on the cover page of this brochure. As paying agent for our firm, your independent custodian will directly debit your account(s) for the payment of our advisory fees. This ability to deduct our advisory fees from your accounts causes our firm to exercise limited custody over your funds or securities. Asset Transfer Authority Our firm, or persons associated with our firm, do not complete standing letters of authorization (SLOA) with the custodian unless the transaction satisfies the SEC’s seven “no action” (Section 206(4) of, and Rule 206(4)- 2) relief conditions set forth on February 21, 2017. All third-party asset transfers on behalf of client accounts require a client’s signature to transfer funds. If you have a question regarding your account statement or if you did not receive a statement from your custodian, please contact us directly at the telephone number or email address on the cover page of this brochure. 22  Item 16 Investment Discretion Before we can buy or sell securities on your behalf on a discretionary basis, you must first sign our management agreement and discretionary trading authorization forms with the custodian. You may specify investment objectives, and guidelines, and/or impose certain conditions or investment parameters for your account(s). For example, you may specify that the investment in any particular stock or industry should not exceed specified percentages of the value of the portfolio and/or restrictions or prohibitions of transactions in the securities of a specific industry or security. Please refer to the "Advisory Business" section in this brochure for more information on our discretionary management services. 23  Item 17 Voting Client Securities Proxy Voting We will, with your permission, vote proxies on behalf of your advisory accounts. Our firm has adopted proxy voting policies and procedures with respect to securities owned by our clients for which we have been specifically delegated voting authority and discretion, in accordance with its fiduciary duties and Securities and Exchange Commission Rule 206(4)-6 under the Investment Advisers Act of 1940, which are reasonably designed to ensure that proxies are voted in the best interest of clients. If you own shares of common stock or mutual funds, you may receive proxy materials directly from the account custodian. If you inadvertently receive any written or electronic proxy materials, please forward them to us by mail. It is the general policy that we vote on all matters presented to security holders in any Proxy, and these policies and procedures have been designed with that in mind. However, we reserve the right to abstain on any particular vote or otherwise withhold a vote on any matter if in the judgment of Apricus, the costs associated with voting such Proxy outweigh the benefits to the Client, or if the circumstances make such an abstention or withholding otherwise advisable and in the best interests of the Client, in our judgment. Clients delegate to Apricus the discretionary power to vote the securities held in their account pursuant to the written Agreement. We do not generally accept any subsequent directions on matters presented to shareholders for a vote, regardless of whether such subsequent directions are from the client itself or a third party. We view the delegation of discretionary voting authority as an “all-or-nothing” choice for our clients. Clients and investors can contact Joseph Costigan to obtain a copy of the Firm’s proxy voting policies and procedures, as well as information on how the Firm voted the account’s proxies, by contacting the Firm at the email address or telephone number listed on the first page of this Brochure. Apricus may use a third party firm to monitor and vote proxies (Egan Jones). The firm votes in accordance with Apricus proxy voting policies. Clients and investors can contact Joseph Costigan with questions about a particular solicitation at the email address or telephone number listed on the first page of this brochure. 24  Item 18 Financial Information We are not required to provide financial information to our clients because we do not: • Require the prepayment of more than $1,200 in fees and six or more months in advance. • Take physical custody of client funds or securities. • Have a financial condition that is reasonably likely to impair our ability to meet our commitments to our clients. 25