LAUREL WEALTH PLANNING

Laurel Wealth Planning LLC Form ADV Part 2A Investment Adviser Brochure March 16, 2026 This brochure provides information about the qualifications and business practices of Laurel Wealth Planning LLC. If you have any questions about the contents of this brochure, please contact Mallory Kretman, Chief Compliance Office, at 952.854.6250 and/or Mallory.Kretman@laurelwealthplanning.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. Laurel Wealth Planning LLC is a registered investment adviser. Registration of an investment adviser does not imply any level of skill or training. Additional information about Laurel Wealth Planning LLC is also available on the SEC’s website at www.adviserinfo.sec.gov. You can search this site by a unique identifying number, known as a CRD number. Laurel Wealth Planning LLC’s CRD number is 122035. 3300 Edinborough Way, Suite 790 Edina, MN 55435 952.854.6250 laurel.wealthplanning@laurelwealthplanning.com www.laurelwealthplanning.com  Item 2: Summary of Material Changes Annual Update This Item of the brochure is updated if material changes have occurred during the course of Laurel Wealth Planning LLC’s (LWP or the Firm) fiscal year; or with the LWP’s Annual Updating Amendment (ADV). Material Changes since the Last Update Since the last annual filing of this Form ADV Part 2, dated February 25, 2025, the following material changes have occurred: Item 4 – Effective May 1, 2025, Mallory Kretman is Chief Compliance Officer of Laurel Wealth Planning LLC. Item 12 – We now recommend Charles Schwab & Co., Inc. as a custodian. Please note, this section only discusses changes we consider material and not all changes made. Full Brochure Available We will provide you with a new Brochure as necessary based on material changes or new information, at any time, without charge. LWP’s Brochure may be requested by contacting Mallory Kretman, Chief Compliance Office, at 952.854.6250 and/or Mallory.Kretman@laurelwealthplanning.com information about LWP is also available via Additional the SEC’s web site www.adviserinfo.sec.gov. The SEC’s web site also provides information about any persons affiliated with LWP who are registered, or are required to be registered, as investment adviser representatives of LWP. 2 Laurel Wealth Planning LLC  Item 3 Table of Contents Page Item 1 Cover Page 1 Item 2 Summary of 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 9 Item 7 Types of Clients 9 Item 8 Methods of Analysis, Investment Strategies and Risk of Loss 9 Item 9 Disciplinary Information 10 Item 10 Other Financial Industry Activities and Affiliations 10 Item 11 Code of Ethics, Participation or Interest in Client Transactions and Personal Trading 10 Item 12 Brokerage Practices 12 Item 13 Review of Accounts 14 Item 14 Client Referrals and Other Compensation 15 Item 15 Custody 15 Item 16 Investment Discretion 15 Item 17 Voting Client Securities 16 Item 18 Financial Information 16 Privacy Notice 16 Form ADV Part 2b for Each Supervised Person 18 3 Laurel Wealth Planning LLC  Item 4: Advisory Business Firm Description and Types of Advisory Services LWP is an investment adviser and is a fiduciary that is required to act in a client’s best interest at all times. LWP offers wealth management and financial planning services for individuals, pension and profit sharing plans, trusts, estates and charitable organizations, and corporations. LWP was founded in 1998. Principal Owners The majority owner of LWP is Laura A. Kuntz, President, CEO, and Administrative Officer. Mallory Kretman is Secretary, Chief Compliance Officer, and minority owner of LWP. Types of Advisory Services Financial Planning Our financial planning service is offered based on an hourly fee to wealth management clients who request services outside of the scope of the normal wealth management service or for certain new clients who request a financial plan as a place to start. Services and advice may include: • Review and formulation of personal financial planning goals and objectives. • Analysis of cash inflow and outflow and /or budgeting and expense management. • Planning for financial independence. • Planning for education accumulation and education payment. • Planning to enhance financial security at various catastrophic events (death, disability, etc.) • Business planning including: retirement plans, succession planning, buy-sell planning, employee benefits, etc. • • General estate planning, including generally-accepted techniques to reduce death costs, and general discussion of techniques to provide for desired estate disposition; (services DO NOT include drafting wills, trusts, or any other legal documents or giving any legal advice. LWP and staff do not practice law.) Income tax reduction, especially in areas of retirement plans, employee benefits, and investment planning; but services DO NOT include tax preparation or detailed tax planning for a business or an individual. LWP and staff do not practice accountancy. • Stock option, stock accumulation, and deferred compensation planning for executives. • Creating an investment strategy that helps meet client’s goals. In doing this, the following services may be included: 1) Investment education, risk/reward trade-offs, historical performance information, advantages and disadvantages of types of investment providers; 2) Development of target investment returns; 3) Assessment of risk tolerance; 4) Review of current investments as to type and various key characteristics, i.e. such as past returns and past volatility, and/or general performance in comparison to similar or different investments; 4 Laurel Wealth Planning LLC  5) Development of an asset allocation strategy; and 6) In most, but not all cases, specific investment recommendations. Financial planning clients will receive a written detailed financial plan designed to achieve their stated financial goals and objectives. LWP gathers client information through in-depth personal interviews. Information gathered includes a client’s current financial status, goals, and attitudes towards risk. Related documents supplied by the client, including a questionnaire completed by the client, are carefully reviewed, and a written report is prepared. If a financial planning client chooses to implement the recommendations contained in the plan, LWP suggests the client work closely with his/her attorney, accountant, insurance agent, and/or stockbroker. Implementation of financial plan recommendations is entirely at the client’s discretion. Financial planning recommendations are not limited to any specific product or service offered by a broker dealer or insurance company. All recommendations are of a generic nature. Wealth Management Services LWP provides continuous advice to clients regarding investment of client funds based on the individual needs of the client on a discretionary and non-discretionary basis. Through personal discussions in which goals and objectives based on a client's particular circumstances are established, LWP develops a client's personal investment policy and creates and manages a portfolio based on that policy. LWP will manage advisory accounts on a discretionary and non-discretionary basis. Account supervision is guided by the stated objectives of the client (i.e., capital appreciation, growth, income, growth and income, etc.). LWP will create a portfolio consisting of one or all of the following: individual equities, bonds, open-end or closed-end mutual funds, no-load or load-waived mutual funds, ETFs and other investment products it seems suitable for the client. LWP will allocate the client's assets among various investments taking into consideration your goals and preferences. Open-end & closed-end mutual funds and ETFs will be selected on the basis of any or all of the following criteria: the fund's performance history; the industry sector in which the fund invests; the track record of the fund 's manager; the fund's investment objectives; the fund's management style and philosophy; the fund's management fee structure; liquidity options; strategies we are recommending as we monitor the global investment markets, etc. Portfolio weighting between funds and market sectors will be determined by each client's individual needs and circumstances. As part of wealth management services, LWP may offer ongoing advice in the areas listed in the Financial Planning services. In most cases, the fee for wealth management will incorporate this advice. In some cases, an additional fee will be required for certain services. investment portfolios are managed either by our Selection and Monitoring of Third Party Money Managers Client’s Investment Adviser Representatives or outside portfolio managers. We select and review outside portfolio managers based on the following factors: • past performance; • cost; • investment philosophy; 5 Laurel Wealth Planning LLC  • 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. Tailored Relationships LWP tailors wealth management and financial planning services to the individual needs of the client. The goals and objectives for each client are documented. Wrap Fee Programs LWP does act as a portfolio manager in a Wrap Fee Program. Client Assets As of December 31, 2025, $447,677,197 of LWP’s clients’ assets are managed on a discretionary basis and $5,965,295 of LWP’s clients assets are managed on a non- discretionary basis, which totals $453,642,492 of assets under management. Item 5: Fees and Compensation Compensation – Financial Planning In certain instances, where pre agreed, clients may pay hourly fees in addition to the wealth management fee for advice and service outside of our normal wealth management services. In addition, certain new clients may prefer an hourly approach to get started. For hourly engagements, we will charge a mutually agreed upon hourly fee of $150 - $600, depending on the skill of the financial professional or staff person involved. The exact hourly fee will be stated in the agreement provided at the outset of the engagement based on the areas the client would like addressed. Typically, an initial payment of $500 is accepted at the beginning of the engagement and all other fees are charged through a progress billing and/or are due at the completion of the engagement. Meetings with and 6 Laurel Wealth Planning LLC  services provided by other professionals required for implementation (such as your estate planning attorney, accountant, etc.) are billed separately by those professionals. Compensation – Wealth Management Services LWP charges most of its clients an annual investment management fee based on the following schedule: DISCRETIONARY and NON-DISCRETIONARY FEE SCHEDULE We shall provide the services described in the Wealth Management Agreement for an annual fee based upon the following fee schedule: Household Assets Quarterly Fee Annualized Fee* First $ 200,000 0.31250 % 1.25 % Next $ 300,000 0.25000 % 1.00 % Next $ 800,000 0.22500 % 0.90 % Next $ 1,000,000 0.21250 % 0.85 % Next $ 2,000,000 0.17500 % 0.70 % Next $ 3,500,000 0.15000 % 0.60 % Next $ 12,200,000 0.12500 % 0.50 % Over $ 20,000,000 Negotiable Negotiable All fees may be negotiated at the Adviser’s choice. Fees are charged quarterly, in advance, based upon the market value of the Household Assets, including cash, on the last day of the previous quarter as valued by the Custodian with a minimum fee of eighteen hundred seventy five dollars ($1,875) per quarter. The initial fee will be calculated from the date of the Wealth Management Agreement or when the account is initially funded, to the end of the quarter. Such fees shall become due and payable immediately. Although we have established the aforementioned fee schedule(s), we retain the discretion to negotiate alternative fees or waive the minimum fee on a client-by-client basis. Client facts, circumstances, and needs are considered in determining the fee schedule. These include the complexity of the client, assets to be placed under management, anticipated future additional assets; related accounts; portfolio style, account composition, reports, among other factors. The specific annual fee schedule is identified in the contract between the adviser and each client. We may group certain related client accounts for the purposes of calculating the fee for the Household Assets. Agreement Terms A client may terminate LWP services at any time by notifying LWP and paying the rate for the time spent on the financial engagement prior to notification of termination. If the client made an advance payment, LWP will refund any unearned portion of the advance payment. 7 Laurel Wealth Planning LLC  General Information on Compensation and Other Fees In certain circumstances, fees, and payment terms are negotiable depending on client’s unique situation – such as the size of the aggregate related party portfolio size, family holdings, low cost basis securities, or certain passively advised investments and pre- existing relationships with clients. Certain clients may pay more or less than others depending on the amount of assets, type of portfolio, or the time involved, the degree of responsibility assumed, complexity of the engagement, special skills needed to solve problems, the application of experience and knowledge of the client’s situation. Lower fees for comparable services may be available from other sources. Transaction fees and other costs relating to trading are described in Item 12, Brokerage Practices. LWP does not require or solicit prepayment of more than $1,200 in fees per client, six months or more in advance. If the client contracts separately for any services from a referred investment professional then the terms of that relationship is between the client and the investment professional. Wealth management fees are typically deducted from clients’ accounts at the custodian and billed quarterly in advance. LWP receives written authority from the Client to directly deduct the fees from the account held with the custodian. LWP sends an invoice to the custodian documenting the amount of the fee. When a client who has engaged LWP for wealth management services upon giving LWP a notice of cancelation of their wealth management agreement they are entitled to a pro- rata refund from the date of termination for the period of services that the fees have been paid for in advance. LWP may reimburse clients costs to transfer their relationship to our current Custodian platform by reducing the client’s wealth management fee by the amount of these costs (supported by written communication to the client explaining this reduction in our fee). No LWP principal or any supervised person receives any compensation for the sale of securities or other investment products, including asset-based sales charges or service fees from the sale of mutual funds. LWP’s only compensation is a percentage of assets under management or a financial planning fee as described in Item 4. Advice offered may involve investments in mutual funds. Clients are hereby advised that all fees paid to LWP for wealth management services are separate and distinct from the fees and expenses charged by mutual funds (described in each mutual fund's prospectus) to their shareholders. Therefore, Clients whose assets are invested in the shares of mutual funds may pay additional management fees and expenses directly to the mutual fund. The custodian may charge the client transaction fees for purchasing mutual funds. Almost all funds used in the client’s portfolios are no-load mutual funds, rarely are any transaction fees paid. When transaction fees are paid, they are paid to the custodian and/or the mutual fund company. No transaction fees or commissions are ever paid to LWP. Item 6: Performance-Based Fees and Side-by-Side Management Neither LWP nor any of its Supervised Persons (employees) accepts performance-based fees (fees based on a share of capital gains on or capital appreciation of the assets of a 8 Laurel Wealth Planning LLC  client). Item 7: Types of Clients Types of Clients As described in Item 4, LWP‘s clients are individuals, pension and profit sharing plans, trusts, estates and charitable organizations, and corporations. Account Size and Fee Minimums We do not have a minimum account size requirement, but we do have a minimum annual fee of $7,500. Item 8: Methods of Analysis, Investment Strategies and Risk of Loss LWP typically uses fundamental and technical analysis to assist with investment decisions. The main sources are websites, financial newspapers and magazines, research material prepared by others, annual reports, prospectuses, and SEC filings. Additionally, LWP may use historical quantitative data on selected assets to determine probable risk/reward factors based on the client objectives and constraints. LWP may create a computerized portfolio model to assist in asset selection and performance analysis of varying relationships between asset classes. LWP has an Investment Committee that typically meets every three to four months, Laura Kuntz is the Chair, a list of attendees is kept, and minutes are recorded. The Investment Committee reviews all research material presented and discusses the current economic conditions. LWP shall never have physical custody of any client funds or securities, as the services of a qualified and independent custodian will be utilized for these asset management services. LWP does not represent, warranty, or imply that the services or methods of analysis employed by LWP can or will predict future results, successfully identify market tops or bottoms, or insulate clients from losses due to market corrections or declines. Investing in securities involves a risk of loss that clients should be prepared to bear. Investment Strategies LWP provides wealth management and financial planning services. The investment strategies used to implement advice may include long and short-term purchases, margin transactions, and option writing, and including covered options or spreading strategies. Timing Service While not a standard analysis method we use, we may offer advisory services that attempt to time Equities (stocks and ETFs). This essentially means we try to purchase or sell immediately preceding an increase or decrease in the securities price. We monitor our accounts for excessive trading activity to ensure that you are aware of and comfortable with the level of trading as well as to ensure that the investments are appropriate for you. Risk of Loss All securities investments involve a risk of loss. LWP cannot stress enough that the client 9 Laurel Wealth Planning LLC  needs to realize that actual performance will vary from return potential and volatility presented. Use of alternative and private investments normally causes lack of liquidity. The performance of any particular investment vehicle is dependent on the management strategy of the selected investment company. The client should review the mutual fund prospectus or private placement memorandum for the specific risks related to each fund that is held in the client’s account. Item 9: Disciplinary Information Registered investment advisers are required to disclose all material facts regarding any legal or disciplinary events that would be material to your evaluation of LWP or the integrity of LWP’s management. LWP and its management persons have never been involved in a legal or disciplinary event. Item 10: Other Financial Industry Activities and Affiliations Neither LWP nor any of its management persons is registered as (or associated with) a futures commissions merchant, commodity pool operator, or a commodity trading advisor. Financial Industry Activities As a fee-only advisory firm, LWP and its Supervised Persons are only compensated through the investment advisory fees paid by Clients to LWP. 10 Laurel Wealth Planning LLC  Item 11: Code of Ethics, Participation or Interest in Client Transactions and Personal Trading Code of Ethics LWP employees must comply with a Code of Ethics and Statement for Insider Trading. The Code describes the Firms’ high standard of business conduct, and fiduciary duty to its clients. The Code’s key provisions include: • Statement of General Principles • Policy on and reporting of Personal Securities Transactions • A prohibition on Insider Trading • Restrictions on the acceptance of significant gifts • Procedures to detect and deter misconduct and violations • Requirement to maintain confidentiality of client information Mallory Kretman, Chief Compliance Officer, reviews all employee trades each quarter. These reviews ensure that personal trading does not affect the markets, and that clients of LWP receive preferential treatment. LWP’s employees must acknowledge the terms of the Code of Ethics at least annually. Any individual not in compliance with the Code of Ethics may be subject to termination. Clients and prospective clients can obtain a copy of LWP’s Code of Ethics by contacting Mallory Kretman at 952.854.6250. Participation or Interest in Client Transactions – Personal Securities Transactions LWP and its employees may buy or sell securities identical to those recommended to clients for their personal accounts. The Code of Ethics, described above, is designed to assure that the personal securities transactions, activities and interests of the employees of LWP will not interfere with (i) making decisions in the best interest of advisory clients and (ii) implementing such decisions while, at the same time, allowing employees to invest for their own accounts. Under the Code certain classes of securities, primarily mutual funds, have been designated as exempt transactions, based upon a determination that these would materially not interfere with the best interest of LWP’s clients. In addition, the Code requires pre-clearance of many transactions. Nonetheless, because the Code of Ethics in some circumstances would permit employees to invest in the same securities as clients, there is a possibility that employees might benefit from market activity by a client in a security held by an employee. Employee trading is continually monitored under the Code of Ethics, and designed to reasonably prevent conflicts of interest between LWP and its clients. Interest in Client Transactions – Financial Interest and Participation or Principal/Agency Cross LWP and its employees do not recommend to clients, or buy or sell for client accounts, securities in which they have a material financial interest. It is LWP’s policy that the Firm will not affect any principal or agency cross securities transactions for client accounts. LWP will also not cross trades between client accounts. 11 Laurel Wealth Planning LLC  Participation or Interest in Client Transactions LWP and its employees may buy or sell securities that are also held by clients. Employees comply with the provisions of LWP’s Code of Ethics. Investment Advice Relating to Retirement Accounts 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. In addition, and as required by this rule, we provide information regarding the services that we provide to you, and any material conflicts of interest, in this brochure and in your client agreement. Item 12: Brokerage Practices Raymond James & Associates, Inc. Research and Other Soft Dollar Benefits LWP does not receive formal soft dollar benefits from broker/dealers. LWP recommends that clients establish brokerage accounts with Raymond James and Associates (“RJA”), member FINRA/SIPC. RJA is an unaffiliated SEC-registered broker-dealer and FINRA member. RJA offers to independent investment advisers services that include custody of securities, trade execution, clearance and settlement of transactions. LWP receives some benefits from RJA through its participation in the program. RJA, LWP, and/or Investment Adviser Representatives may receive benefits such as assistance with conferences and educational meetings from product sponsors. fees that are reasonable considering LWP believes that RJA provides a high level of service and offers commissions and/or transaction the services provided. The reasonableness of commissions and/or transaction fees is based on several factors, including the broker's ability to provide professional services, competitive commission and/or transaction fees, volume discounts, execution price negotiations, the broker's 12 Laurel Wealth Planning LLC  reputation, experience and financial stability of the broker or dealer, and the quality of service rendered by the broker or dealer in other transactions. Best execution is not measured solely by reference to commission and/or transaction fees. Paying a broker a higher commission rate than another broker might charge is permissible if the difference in cost is reasonably justified by the quality of the brokerage services offered. LWP annually reviews RJA for best execution and also completes a due diligence review. A due diligence review consists of reviewing the unaffiliated third parties following items, if available: disaster recovery plans, financial condition, internal controls reports, anti-money laundering policies, Code of Ethics, and other items necessary to determine if LWP desires to continue its relationship with that unaffiliated third party. Certain no-load mutual funds may impose a transaction fee with respect to purchases made through a broker/dealer like RJA that clients would not have to pay if they dealt directly with that no-load fund. However, the advantages of a consolidated account with centralized bookkeeping and reporting, direct access to funds with a single telephone call, as well as less expensive commission and/or transaction fees on individual stocks and bonds than those available through a full-service broker far outweigh the small transaction fees. It may be the case that the recommended broker charges a higher fee for a particular type of service, such as commission rate. Therefore, clients may utilize any broker/dealer of their choice and have no obligation to purchase or sell securities through such broker recommended by LWP. Clients that elect the services of broker/dealers other than those recommended may be subject to additional service fees imposed by LWP at its discretion and also may not be able to participate in aggregate trading practices. Advisory clients are hereby advised that they shall have total freedom to effectuate securities transactions with any broker/dealer of their choosing. Individuals associated with LWP may buy or sell - for their personal account(s) - investment products identical to those recommended to Clients. It is LWP’s policy that employees shall not have priority in any purchase or sale over Clients' accounts. LWP may have discretionary authority over the selection of and amounts of securities to be bought and/or sold for their account without obtaining their prior consent or approval from the client. (See Advisory Business Item 4) LWP clients may impose conditions regarding investment objectives and guidelines. For example, a client 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. LWP does not participate in initial public offerings. Brokerage for Client Referrals LWP does not receive client referrals from broker/dealers for compensation. Directed Brokerage The client may direct LWP in writing to use a particular broker-dealer to execute some or all transactions for the client. In that case, the client will negotiate terms and arrangements for the account with that broker-dealer, and LWP will not seek better execution services or prices from other broker-dealers or be able to aggregate client transactions for execution through other broker-dealers with orders for other accounts managed by LWP. 13 Laurel Wealth Planning LLC  As a result, the 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. Subject to its duty of best execution, LWP may decline a client's request to direct brokerage if, in LWP’s strategies sole discretion, such directed brokerage arrangements would result in additional operational difficulties. Additionally, a client may direct LWP to use a specific broker; however, the broker may not wish to establish a new relationship with LWP. LWP participates in RJA institutional customer program and LWP may recommend RJA to Clients for custody and brokerage services. There is no direct link between LWP’s participation in the program and the investment advice it gives to its clients, although LWP receives economic benefits through its participation in the program that are typically not available to RJA retail investors. These benefits include the following products and services (provided without cost or at a discount): receipt of duplicate client statements and confirmations; research related products and tools; consulting services; access to a trading desk serving adviser participants; access to block trading (which provides the ability to aggregate securities transactions for execution and then allocate the appropriate shares to client accounts); the ability to have advisory fees deducted directly from client accounts; access to an electronic communications network for client order entry and account information; access to mutual funds with no transaction fees and to certain institutional money managers; and discounts on compliance, marketing, research, technology, and practice management products or services provided to LWP by third party vendors. Some of the products and services made available by RJA through the program may benefit LWP but may not directly benefit its client accounts. These products or services may assist LWP in managing and administering client accounts, including accounts not maintained at RJA. Other services made available by RJA are intended to help LWP manage and further develop its business enterprise. The benefits received by LWP or its personnel through participation in the program do not depend on the amount of brokerage transactions directed to RJA. As part of its fiduciary duties to clients, LWP endeavors at all times to put the interests of its clients first. Clients should be aware, however, that the receipt of economic benefits by LWP or its related persons in and of itself creates a conflict of interest and may influence LWP's choice of RJA for custody and brokerage services. In evaluating whether to recommend or require that clients custody their assets at RJA, LWP may take into account the availability of some of the foregoing products and services and other arrangements as part of the total mix of factors that are considered and not solely on the nature, cost or quality of custody and brokerage services provided by RJA, which creates conflict of interest which is above described. Charles Schwab & Co., Inc. LWP does not have any affiliation with any custodian we recommend. Specific custodian recommendations are made to the Client based on their need for such services. We recommend custodians based on the reputation and services provided by the firm. In recommending custodians, we have an obligation to seek the “best execution” of transactions in Client accounts. The determinative factor in the analysis of best execution is not the lowest possible commission cost, but whether the transaction represents the best qualitative execution, taking into consideration the full range of the custodian’s 14 Laurel Wealth Planning LLC  services. The factors we consider when evaluating a custodian for best execution include, without limitation, the custodian’s: ● Combination of transaction execution services and asset custody services (generally without a separate fee for custody); ● Capability to execute, clear, and settle trades (buy and sell securities for your account); ● Capability to facilitate transfers and payments to and from accounts (wire transfers, check requests, bill payment, etc.); ● Breadth of available investment products (stocks, bonds, mutual funds, exchange- traded funds (ETFs), etc.); ● Availability of investment research and tools that assist us in making investment decisions ● Quality of services; ● Competitiveness of the price of those services (commission rates, margin interest rates, other fees, etc.) and willingness to negotiate the prices; ● Reputation, financial strength, security and stability; ● Prior service to us and our clients. With this in consideration, our firm recommends Charles Schwab & Co., Inc., a registered broker-dealer, member FINRA and SIPC (“Schwab”). Although Clients may request a custodian of their choosing, we generally recommend one of our custodial partners, such as Charles Schwab & Co., Inc., based on the Client’s needs and the services offered. We are not affiliated with Schwab. The Client will ultimately make the final decision of the custodian to be used to hold the Client’s investments by signing the selected custodian’s account opening documentation. 1. Research and Other Soft-Dollar Benefits LWP does not have any soft-dollar arrangements with custodians whereby soft-dollar credits, used to purchase products and services, are earned directly in proportion to the amount of commissions paid by a Client. However, as a result of being on their institutional platform, Schwab may provide us with certain services and products that may benefit us. All such soft dollar benefits are consistent with the safe harbor contained in Section 28(e) of the Securities Exchange Act of 1934, as amended. Schwab Advisor Services™ is Schwab’s business serving independent investment advisory firms like us. They provide our Clients and us with access to their institutional brokerage services (trading, custody, reporting and related services), many of which are not typically available to Schwab retail customers. Schwab also makes available various support services. Some of those services help us manage or administer our Clients’ accounts, while others help us manage and grow our business. Schwab’s support services are generally available on an unsolicited basis (we don’t have to request them) and at no charge to us. The benefits received by LWP or its personnel do not depend on 15 Laurel Wealth Planning LLC  the number of brokerage transactions directed to Schwab. As part of its fiduciary duties to Clients, LWP at all times must put the interests of its Clients first. Clients should be aware, however, that the receipt of economic benefits by LWP or its related persons in and of itself creates a potential conflict of interest and may indirectly influence the LWP’s choice of Schwab for custody and brokerage services. This conflict of interest is mitigated as LWP regularly reviews the factors used to select custodians to ensure our recommendation is appropriate. Following is a more detailed description of Schwab’s support services: 1. Services that benefit you. Schwab’s institutional brokerage services include access to a broad range of investment products, execution of securities transactions, and custody of Client assets. The investment products available through Schwab include some to which we might not otherwise have access or that would require a significantly higher minimum initial investment by our Clients. Schwab’s services described in this paragraph generally benefit you and your account. 2. Services that may not directly benefit you. Schwab also makes available to us other products and services that benefit us but may not directly benefit you or your account. These products and services assist us in managing and administering our Clients’ accounts. They include investment research, both Schwab’s own and that of third parties. We may use this research to service all or a substantial number of our Clients’ accounts, including accounts not maintained at Schwab. In addition to investment research, Schwab also makes available software and other technology that: • provide access to Client account data (such as duplicate trade confirmations and account statements) • facilitate trade execution and allocate aggregated trade orders for multiple Client accounts • provide pricing and other market data • facilitate payment of our fees from our Clients’ accounts • assist with back-office functions, recordkeeping, and Client reporting 3. Services that generally benefit only us. Schwab also offers other services intended to help us manage and further develop our business enterprise. These services include: • Educational conferences and events • Consulting on technology, compliance, legal, and business needs • Publications and conferences on practice management and business succession 4. Your brokerage and custody costs. For our Clients’ accounts that Schwab maintains, Schwab generally does not charge you separately for custody services 16 Laurel Wealth Planning LLC  but is compensated by charging you commissions or other fees on trades that it executes or that settle into your Schwab account. Certain trades (for example, many mutual funds and ETFs) may not incur Schwab commissions or transaction fees. 2. Brokerage for Client Referrals We receive no referrals from a custodian, broker-dealer or third-party in exchange for using that custodian, broker-dealer or third-party. 3. Clients Directing Which Broker/Dealer/Custodian to Use We do recommend a specific custodian for clients to use, however, clients may custody their assets at a custodian of their choice. Clients may also direct us to use a specific broker-dealer to execute transactions. By allowing clients to choose a specific custodian, we may be unable to achieve most favorable execution of client transaction and this may cost clients’ money over using a lower-cost custodian. Trade Aggregation LWP does not aggregate or block trades on non-discretionary accounts. For discretionary accounts, LWP may aggregate orders with respect to a security if such aggregation is consistent with achieving best execution for the various client accounts. When orders are aggregated, each participating account will receive the average share price for all transactions in a particular security effected to fill such orders on a given business day. Transaction costs will generally be allocated upon each account's participation in the transaction. Specific allocations may be chosen based upon an account's existing positions in securities, the cash availability of one or more particular accounts, a partial fill of the aggregated trade, tax reasons, or the required minimum trade lot sizes for foreign securities. If it is not possible to aggregate a trade, a client may receive a different price on a security transaction and may not be able to purchase or sell the same quantity of a security. In addition, clients that elect the services of broker/dealers other than those recommended may not be able to participate in aggregate trading practices. Item 13: Review of Accounts Reviews Portfolio reviews are continuously conducted personally by or supervised by Laura A. Kuntz, President, CEO, and Administrative Officer. Other professional staff may have a role in conducting reviews, but only under the supervision of Laura A. Kuntz. Reviews are performed as agreed upon with the client. The client review includes comparing the portfolio and current security positions with the goals and objectives as outlined by the investment policy statement, reviewing changes to the client's investment circumstances, evaluating the specific holdings, re-balancing the portfolio and communicating the current status of the portfolio and any recommended actions to the client. Other conditions that may trigger a review are changes in market, political, or economic 17 Laurel Wealth Planning LLC  conditions, tax laws, new investment information, and changes in a client's own situation. Reporting Each month, the custodian provides clients with an account statement for each client account, which may include individual holdings, cost basis information, deposits and withdrawals, accrued income, dividends, and performance. In addition, the custodian provides clients with trade confirmations for each position bought and sold. Financial Planning - Reviews and Reporting The initial financial plan is included as a component of the financial planning service. Clients may receive updated financial plans for a separate fee or as part of the wealth management service. Item 14: Client Referrals and Other Compensation Other Compensation LWP and its employees do not receive any economic benefits, including sales awards or other prizes. Compensation – Brokerage See Item 12 Brokerage Practices for a discussion of economic benefits received from RJA & Charles Schwab 18 Laurel Wealth Planning LLC  Compensation – Client Referrals LWP does not make or accept referral fees or any form of remuneration from other professionals when a prospect or client is referred to them. As part of our employee compensation package, incentive bonuses may be allocated based on successful completion of a variety of goals including new client relationships. Fee Sharing LWP does not share advisory fees. Item 15: Custody Custody LWP does not accept or have physical custody of any client funds. See Item 5 Fees and Compensation for the process to directly deduct fees from the client’s account. Clients may have standing letters of authorization on their accounts. LWP has reviewed those relationships and determined that they meet the IAA no action letter seven conditions and do not trigger the surprise custody audit. LWP does have access to some client passwords to enter trades on their behalf, which triggers a surprise audit by an independent CPA. Item 16: Investment Discretion LWP manages client assets on a discretionary and a non-discretionary basis. For those client accounts where we manage assets on a discretionary basis, investment discretion is explained to clients in detail when an advisory relationship has commenced. At the start of the advisory relationship, the client will execute a Limited Power of Attorney, which will grant our firm discretion over the account. Additionally, the discretionary relationship will be outlined in the advisory contract and signed by the client. Clients may impose reasonable restrictions on investing in certain securities, types of securities, or industry sectors. Item 17: Voting Client Securities LWP does not have any authority to and does not vote proxies on behalf of clients. LWP Clients retain the responsibility for receiving and voting proxies; clients receive these proxies directly from either custodians or transfer agents. If requested, LWP may provide advice to clients regarding proxy votes. If any conflict of interest exists, it will be disclosed to the client. Clients may contact Laura A. Kuntz at 952.854.6250 for information about proxy voting. 19 Laurel Wealth Planning LLC  Item 18: Financial Information LWP does not have any adverse financial information to disclose. LWP is not required to provide a balance sheet; LWP does not serve as a custodian for client funds or securities, and does not require prepayment of fees of more than $1,200 per client, and six months or more in advance. 20 Laurel Wealth Planning LLC  Privacy Notice Laurel Wealth Planning LLC is committed to maintaining the confidentiality, integrity and security of personal information about our current, former, and prospective Clients. We consider customer privacy to be fundamental to our relationship with Clients. It is our policy to respect the privacy of current, former, and prospective Clients and to protect customer information entrusted to us. This policy describes the steps we have taken to safeguard your information and what Client information we may share with others. We are proud of our privacy practices and want you to know how we protect information used to provide you with service. You do not have to contact us to benefit from our privacy protections; they apply automatically to both current, former and prospective Clients. Information We Collect and Maintain We collect, maintain, and protect information constituting Nonpublic Personal Information (as defined in Regulation S-P) of and about customers. This information includes any records that contain Nonpublic Personal Information, created by us, provided by you, obtained from third parties, or maintained on our behalf by a service provider. This may include: • • • Information we receive from you to open an account or provide investment advice to you (such as your home address, telephone number, social security number, taxpayer identification number, e-mail address, age, marital status, assets, and income and financial information); Information that we generate to service your account (such as trade tickets and account statements); or Information that we may receive from third parties with respect to your account (such as trade confirmations). Information We Disclose We will not disclose any Nonpublic Personal Information about you or your account(s) to anyone unless one of the following conditions is met: • Firm receives your prior written consent; • Firm believes the recipient is your authorized representative; • Firm discloses your Nonpublic Personal Information as necessary to effect or process a transaction in any account, or to maintain or service your account(s); • Firm is required by law to disclose information to the recipient. In all such situations, we stress the confidential nature of information being shared. We may share your personal information with: • Non-affiliated companies that provide processing, account maintenance and related services in connection with your investments and other transactions handled by us; and • Non-affiliated companies and government agencies only to the extent permitted or required by law, for legal, regulatory or other purposes (for example, for tax purposes or for reporting suspicious transactions). How We Protect Nonpublic Personal Information We maintain the confidentiality, security and integrity of your Nonpublic Personal Information by: • Restricting access to your Nonpublic Personal Information to those Employees with a legitimate need for the information; and • Maintaining physical electronic and procedural safeguards that meet or exceed federal and 21 Laurel Wealth Planning LLC  industry standards governing how Nonpublic Personal Information should be stored. This will include encryption, where feasible, • We have not and will not sell your personal information to anyone, even if our formal Client relationship ends. • We require service providers to implement appropriate safeguards, notify us of security incidents, cooperate in investigations, and support our compliance obligations. We do all of these things on an ongoing basis. • We train our team members regarding this policy and related matters on a continuous basis. Text Messaging Communications To enhance our ability to communicate with you regarding your accounts and our services, we may communicate with you via text message (SMS or similar mobile messaging platforms). Text messaging may be used for administrative, servicing, or scheduling purposes, including confirming receipt of documents or coordinating meetings. When you communicate with us by text message, we may collect and maintain: • Your mobile telephone number; • The content of your messages; • Any information you voluntarily provide in the text message (which may include personal or financial information); and • Metadata associated with the communication, such as date, time, and delivery details. Your phone number, text message content, and all information transmitted through text messaging are considered nonpublic personal information and protected accordingly. By providing us with your mobile number, you consent to receive text messages from us. You may withdraw this consent at any time by contacting us using the information found in this Privacy Notice or by replying “STOP” to a text message. Text messages may not always be a secure method of transmitting sensitive personal or financial information. For this reason, we may direct you to communicate certain information through more secure channels. As a registered investment adviser, we may monitor, review, and retain text message communications related to our advisory business in accordance with applicable books and records requirements. ‑ We will not accept, and you may not submit, trade orders, account transfer instructions, or other ‑ time sensitive directions by text message. Such instructions will not be accepted or acted upon unless they separately confirmed through a communication channel approved for these actions. ‑ ‑ We may use third party vendors to facilitate or archive text message communications. These vendors access message content solely for the purpose of providing contracted services. We conduct due diligence on service providers and, where appropriate, enter into contractual agreements requiring them to protect customer information, comply with applicable law, notify us of security incidents, and cooperate with our regulatory and incident response obligations. We do not sell, share, or disclose mobile information with third parties for marketing or promotional purposes. ‑ Incident Response Program and Security Event Notifications We maintain a written incident response program designed to detect, respond to, and recover from unauthorized access to or use of customer information. 22 Laurel Wealth Planning LLC  • Detection and Assessment: We maintain procedures to promptly identify and assess public Personal suspected or actual incidents involving unauthorized access to Non Information, whether occurring internally or through a third party service provider. ‑ ‑ • Containment and Remediation: Upon identification of a security incident, we will take steps to contain and mitigate any threat, secure affected systems, remediate vulnerabilities, and prevent recurrence. • Customer Notification: If we determine that misuse of your personal information has occurred or is reasonably likely, we will notify you as soon as practicable, consistent with Regulation S P. ‑ Privacy Policy Updates From time to time, we may amend our privacy policy. You will receive appropriate notice when our privacy policy changes. How to Contact Us with Privacy Questions Our relationship with you is one of our most vital assets. We recognize that you have entrusted us with your private financial information, and we will do our utmost to maintain this trust. For additional questions concerning our privacy policy, please call us at 952.854.6250. 23 Laurel Wealth Planning LLC  Item 1: Form ADV Part 2B – Investment Adviser Brochure Supplement Laurel Wealth Planning LLC Form ADV Part 2B Investment Adviser Brochure Supplement Supervisor: Laura A. Kuntz, CRD #1303890 Supervisor of: Mallory Kretman, CRD #5959559 Jesse Kuusisto, CRD #6874302 Maxwell Carlos, CRD# 7099822 Felix Kopycinski, CRD# 7566251 March 16, 2026 This brochure supplement provides information about the Firm’s Supervised Persons that supplements the Laurel Wealth Planning LLC’s brochure. You should have received a copy of that brochure. Please contact Mallory Kretman, Chief Compliance Officer, if you did not receive Laurel Wealth Planning LLC’s brochure or if you have any questions about the contents of this supplement. Additional information about the Firm’s Supervised Persons is also available on the SEC’s website at www.adviserinfo.sec.gov. 3300 Edinborough Way, Suite 790 Edina, MN 55435 952.854.6250 laurel.wealthplanning@laurelwealthplanning.com www.laurelwealthplanning.com 24 Laurel Wealth Planning LLC  Item 2: Educational Background and Business Experience Education and Business Background LWP requires that advisers in its employ have a bachelor's degree and, where appropriate, further coursework demonstrating knowledge of financial planning and tax planning. Examples of acceptable coursework include: an MBA, a CFP®, a CFA, a ChFC, JD, CTFA, EA, CPA, PFS, Series 65 license, or Series 7 and Series 66 license. Additionally, advisers must have work experience that demonstrates their aptitude for wealth management and financial planning. Supervised Persons Laura A. Kuntz Born 1959 1998 – Present Business Background: Laurel Wealth Planning LLC (formerly Laura A. Kuntz, CPA/PFS, MBT) President, CEO, Administrative Officer and Investment Adviser Representative Education: Master of Business Taxation – University of Minnesota, December 1988 BA Economics – University of Wisconsin, May 1981 Continuing Education: substantial continuing education (more than 40 hours per year on average) in investment management, income tax reduction, cash flow planning, estate planning, risk management, and other areas of financial and investment planning. Professional Exams, Designations or Licenses: • Certified Public Accountant (CPA), July 1990 • Personal Financial Specialist (PFS), November 2009. Earned through experience not by examination • Master of Business Taxation (MBT), December 1988 • General Securities Representative (Series 7), Inactive • General Securities Principal (Series 24), Inactive • Uniform Securities Agent State Law Examination (Series 63), Inactive • Uniform Investment Adviser Law Examination (Series 65) June 1992 Mallory Kretman Born 1987 2015 – Present Business Background: Laurel Wealth Planning LLC Secretary, Chief Compliance Officer and Investment Adviser Representative 2011 – 2015 Laurel Wealth Planning LLC Client Service Associate and Paraplanner Education: University of Wisconsin - La Crosse, Bachelor’s Degree, Art, 2007-2010 Normandale Community College, 2005-2007 Professional Exams, Designations or Licenses: 25 Laurel Wealth Planning LLC  • Certified Financial Planner (CFP), August 2018 • Uniform Investment Adviser Law Examination - (Series 65) October 2015 Jesse Kuusisto Born 1995 2017 – Present Business Background: Laurel Wealth Planning LLC Investment Adviser Representative Education: Augsburg College, Minneapolis, MN, BA in Finance and Minor in Economics, 2017 Professional Exams, Designations or Licenses: • Certified Financial Planner (CFP), September 2022 • Uniform Investment Adviser Law Examination - (Series 65) October 2017 Maxwell Carlos Born 1998 Business Background: Laurel Wealth Planning LLC 02/2023 – Present Investment Associate and Associate Wealth Planner 08/2020 – 01/2023 FFP Wealth Management Financial Paraplanner 02/2020 – 05/2020 Wells Fargo Wealth Management Intern Education: University of Minnesota, Duluth, Minnesota, Bachelor of Business Administration – Financial Markets, 2020 Professional Exams, Designations or Licenses: • Uniform Combined State Law Examination (Series 65), October 2021 Felix Kopycinski Born 2001 2024 – Present Business Background: Laurel Wealth Planning LLC Investment Adviser Representative 2023 – 2024 Northwestern Mutual Investment Service LLC Registered Representative 2023 – 2024 Northwestern Mutual Life Insurance Company Agent Intentional Enterprises, LLC 2023 – 2024 26 Laurel Wealth Planning LLC  Entity Advisor 2022 – 2023 Jeffrey Manderfeld Associate Agent Education: Kansas State University, Bachelor’s Degree, Personal Financial Planning, graduated 2023 Professional Exams, Designations or Licenses: • Uniform Combined State Law Examination (Series 65), February 2025 • General Securities Representative (Series 7) • Uniform Securities Agent State Law Examination (Series 63) • SIE Professional Certifications LWP’s supervised persons may maintain professional designations, which required the following minimum requirements: PFS – Personal Financial Specialist Issued by: American Institute of Certified Public Accountants (AICPA). Prerequisites/Experience Required: Candidate must meet the following requirements: • Must hold an unrevoked CPA license; • Fulfill 3,000 hours of personal financial planning business experience; • Complete 80 hours of personal financial planning continuing professional education credits; • Pass a comprehensive financial planning exam (PFS Exam); and • Be an active member of the AICPA Educational Requirements: Must meet minimum education requirements for CPA. Examination Type: PFS Exam Continuing Education/Experience Requirements: Completion of 60 hours of financial planning continuing professional education credits every three years CPA – Certified Public Accountant Issued by: State Boards of Accountancy Prerequisites/Experience Required: Candidate must meet the following requirements: that involve • Minimum experience levels (most states require at least one year of experience providing services the use of accounting, attest, compilation, management advisory, financial advisory, tax or consulting skills, all of which must be achieved under the supervision of or verification by a CPA); • Successful passing of the Uniform CPA Examination Educational Requirements: • At minimum, a college education (typically 150 credit hours with at least a baccalaureate degree and a concentration in accounting); Examination Type: Uniform CPA Examination 27 Laurel Wealth Planning LLC  Continuing Education/Experience Requirements: Completion of 40 hours of continuing professional education each year (or 80 hours over a two year period) in order to maintain a CPA license. CERTIFIED FINANCIAL PLANNER™ professional I am certified for financial planning services in the United States by Certified Financial Planner Board of Standards, Inc. (“CFP Board”). Therefore, I may refer to myself as a CERTIFIED FINANCIAL PLANNER™ professional or a CFP® professional, and I may use these and CFP Board’s other certification marks (the “CFP Board Certification Marks”). The CFP® certification is voluntary. No federal or state law or regulation requires financial planners to hold the CFP® certification. You may find more information about the CFP® certification at www.cfp.net. CFP® professionals have met CFP Board’s high standards for education, examination, experience, and ethics. To become a CFP® professional, an individual must fulfill the following requirements: • Education – Earn a bachelor’s degree or higher from an accredited college or university and complete CFP Board-approved coursework at a college or university through a CFP Board Registered Program. The coursework covers the financial planning subject areas CFP Board has determined are necessary for the competent and professional delivery of financial planning services, as well as a comprehensive financial plan development capstone course. A candidate may satisfy some of the coursework requirement through other qualifying credentials. • Examination – Pass the comprehensive CFP® Certification Examination. The examination is designed to assess an individual’s ability to integrate and apply a broad base of financial planning knowledge in the context of real-life financial planning situations. • Experience – Complete 6,000 hours of professional experience related to the personal financial planning process, or 4,000 hours of apprenticeship experience that meets additional requirements. • Ethics – Satisfy the Fitness Standards for Candidates for CFP® Certification and Former CFP® Professionals Seeking Reinstatement and agree to be bound by CFP Board’s Code of Ethics and Standards of Conduct (“Code and Standards”), which sets forth the ethical and practice standards for CFP® professionals. Individuals who become certified must complete the following ongoing education and ethics requirements to remain certified and maintain the right to continue to use the CFP Board Certification Marks: • Ethics – Commit to complying with CFP Board’s Code and Standards. This includes a commitment to CFP Board, as part of the certification, to act as a fiduciary, and therefore, act in the best interests of the client, at all times when providing financial advice and financial planning. CFP Board may sanction a CFP® professional who does not abide by this commitment, but CFP Board does not guarantee a CFP® professional's services. A client who seeks a similar commitment should obtain a written engagement that includes a fiduciary obligation to the client. • Continuing Education – Complete 30 hours of continuing education every two years to maintain competence, demonstrate specified levels of knowledge, skills, and abilities, and keep up with developments in financial planning. Two of the hours must address the Code and Standards. 28 Laurel Wealth Planning LLC  Item 3: Disciplinary Information Neither LWP nor any Supervised Persons have been involved in any activities resulting in a disciplinary disclosure. Item 4: Other Business Activities None. Item 5: Additional Compensation None. Item 6: Supervision Laura A. Kuntz, President, CEO and Administrative Officer, supervises all persons named in this Form ADV Part 2B Investment Adviser Brochure Supplement. Laura A. Kuntz supervises these persons by holding regular staff, investment and other ad hoc meetings. In addition Laura A. Kuntz, or her designee, regularly reviews client reports, emails, and trading, as well as employees’ personal securities transaction and holdings reports. Laura A. Kuntz may be reached at 952-854-6250. LWP has an Investment Committee that typically meets every three to four months, Laura Kuntz is the Chair, a list of attendees is kept, and minutes are recorded. The Investment Committee reviews all research material presented and discusses the current economic conditions. 29 Laurel Wealth Planning LLC