MENDEL MONEY MANAGEMENT INC

Item 1: Cover Page Mendel Money Management Form ADV Part 2A Investment Adviser Brochure 1200 Shermer Rd. STE 216 Northbrook, IL 60062 Phone: (847) 564-0970 Fax: (847) 728-8245 www.mendelmoney.com August 2025 This Brochure provides information about the qualifications and business practices of Mendel Money Management Inc. (“we,” “us,” “our”). If you have any questions about the contents of this Brochure, please contact Bradley A. Mendel, Chief Compliance Officer, Vice President And Wealth Adviser at (847) 564 -0970 or compliance@mendelmoney.com. Additional information about our Firm is also available on the SEC’s website at www.adviserinfo.sec.gov. 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. We are a registered investment adviser. Please note that use of the term “registered investment adviser” and a description of the Firm and/or our employees as “registered” does not imply a certain level of skill or training. For more information on the qualifications of the Firm and our employees who advise you, we encourage you to review this Brochure and the Brochure Supplement(s).  Item 2: Summary of Material Changes In this Item of Mendel Money Management Inc’s (the “Firm,” “we,” “us,” or “our”) Form ADV 2, the Firm is required to discuss any material changes that have been made to Form ADV since the last Annual Amendment. Material Changes since the Last Update Since the last Annual Amendment filing on February 27, 2025, we have the following Material Changes to report: • This Form was updated to disclose the engagement of a third party consultant to assist with investment research. Please see Item 8 (Methods of Analysis, Investment Strategies, and Risk of Loss). • This Form was updated to further disclose our subscription-based financial planning services and fees. Please see Item 5 (Fees and Compensation). Full Brochure Available Our Form ADV may be requested at any time, without charge by contacting Bradley A. Mendel, Chief Compliance Officer, Vice President And Wealth Adviser at (847) 564-0970 or compliance@mendelmoney.com. Additional information about the Firm is also available via the SEC’s website at www.adviserinfo.sec.gov. The SEC’s website also provides information about any employees affiliated with the Firm who are registered as investment adviser representatives. 2  Item 3: Table of Contents Item 1: Cover Page .......................................................................................................................... 1 Item 2: Summary of Material Changes ........................................................................................... 2 Item 4: Advisory Business ............................................................................................................... 4 Item 5: Fees and Compensation ..................................................................................................... 9 Item 6: Performance-Based Fees and Side-by-Side Management ............................................... 14 Item 7: Types of Clients ................................................................................................................. 15 Item 8: Methods of Analysis, Investment Strategies, and Risk of Loss ........................................ 16 Item 9: Disciplinary Information ................................................................................................... 19 Item 10: Other Financial Industry Activities and Affiliations ........................................................ 20 Item 11: Code of Ethics, Participation or Interest in Clients Transactions and Personal Trading 21 Item 12: Brokerage Practices ........................................................................................................ 23 Item 13: Review of Accounts ........................................................................................................ 25 Item 14: Client Referrals and Other Compensation ..................................................................... 26 Item 15: Custody ........................................................................................................................... 27 Item 16: Investment Discretion .................................................................................................... 28 Item 17: Voting Clients Securities ................................................................................................. 29 Item 18: Financial Information ..................................................................................................... 30 Form ADV Part 2B – Investment Adviser Brochure Supplement .................................................. 31 3  Item 4: Advisory Business Information about the Firm Mendel Money Management, Inc. (the “Firm,” “we,” “us,” or “our”) was formed to provide comprehensive investment counseling services for individual and corporate investors. The company has been registered with the Securities and Exchange Commission since its founding in 1989. The principal owner of the Firm is Bradley A. Mendel. Advisory Services The Firm, a registered investment adviser, provides investment supervisory services on a discretionary basis for individuals, individual retirement plans, sponsors of employee benefit plans (defined contribution and defined benefit), trusts, charitable organizations and corporations or other business entities. Investment counseling is a personalized service. The primary founding tenet of the Firm is continuous maintenance and proper supervision of client assets with regular and close client communication. Clients differ in their specific investment attitudes, temperament, needs, objectives, and ability to assume risk. Our portfolio management is tailored to the client rather than to a general investment program or strategy. While establishing a client relationship, considerable attention is given to these factors to develop a proper objective and method of operation. The heart of the counseling job is to determine the most appropriate investment program for each client and then to provide it in a consistent and clear manner. In providing investment supervisory services, we will: (1) determine the client's investment objectives; (2) buy or sell securities on behalf of the client or make recommendations to that effect; and (3) periodically report to the client the current investment holdings, valuations, transactions, capital gains or losses, and investment income of the client account. The Firm relies primarily on its research activities in formulating investment programs for clients and continually follows the progress of existing investments. The client's tax situation, income needs, time horizon, and attitude toward risk are considered for all executed account actions. Asset Management Services We provide continuous advice to clients regarding investment of client funds based on the individual needs of the client. Through personal discussions in which goals and objectives based on a client’s particular circumstances are established, we develop a client’s personal investment strategy and create and manage a portfolio in accordance with that strategy. Account 4  supervision and ongoing investment counseling is guided by the stated objectives of the client (i.e., maximum capital appreciation, growth, income, growth and income, etc.). We create portfolios consisting of one or all of the following: individual equities, bonds, no-load mutual funds, load-waived mutual funds, exchange traded funds, and/or other investment products. We allocate the client’s assets among various investments taking into consideration the overall management style selected by the client. Clients will have the opportunity to place reasonable restrictions on the types of investments which will be made on the client’s behalf. Clients will retain individual ownership of all securities. Portfolios are managed either in a discretionary or non-discretionary manner, as selected by the client. The method of operation varies in the degree of responsibility granted to the company. In the non-discretionary account, we provide specific recommendations, but will not take any action unless client approval is received. In the discretionary account, we have full authority, under power of attorney, to invest portfolio assets in a manner consistent with the client’s established objectives. Financial Planning We provide a variety of financial planning to individuals, families and other clients based upon an analysis of the client’s current situation, goals, and objectives. Our services may encompass one or more of the following: investment planning; retirement planning; estate planning; charitable planning; education planning; corporate and personal tax planning; corporate structure; real estate analysis; mortgage/debt analysis; insurance analysis; lines of credit evaluation; and business and personal financial planning. Our financial plans usually include general recommendations for a course of activity and may include specific actions to be taken by the clients. For example, we may advise clients to begin or revise investment programs, create, or revise wills or trusts, obtain, or revise insurance coverage, commence, or alter retirement savings rates, or establish education or charitable giving programs. Specific areas of consideration may include some or all of the following items: • Personal: Family records, budgeting, personal liability, estate information and financial goals. • Education: Education IRAs, financial aid, state savings plans (529 plans), grants and general assistance in preparing to meet dependents continuing educational needs through development of an education plan. • Tax Cash Flow: Income tax and spending analysis and planning for past, current, and future years. We will illustrate the impact of various investments on a client’s current income tax and future tax liability. • Death and Disability: Cash needs at death, income needs of surviving dependents, estate planning and disability income analysis. • Retirement: Analysis of current strategies and investment plans to help the client achieve his or her retirement goals. 5  • Investments: Analysis of investment alternatives and their effect on a client’s portfolio. • Estate: Living trusts, wills, review estate tax, powers of attorney, asset protection plans, • nursing homes, Medicaid, and elder law. Insurance: Review of existing policies to ensure proper coverage for life, health, disability, long term care, liability, home, and automobile. We gather the pertinent information through in-depth personal and online interviews. Information gathered includes a client’s current financial status, future goals, and attitudes towards risk. Related documents may include a questionnaire completed by the client. The questionnaire and information supplied by the client are carefully reviewed. If a client chooses to implement the recommendations contained in the plan, we suggest 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. Once a financial plan is developed and agreed to by the client, we utilize the plan as a basis to create individual investment portfolios, which may consist of individual stocks or bonds, mutual funds and other public and private securities or investments. Each client’s portfolio is tailored to an individual investment strategy and to specific goals and objectives and may include some or all of the previously mentioned securities. Once the appropriate portfolio has been determined, we review the portfolio at least annually and, as necessary, we rebalance the portfolio based upon the client’s needs and stated goals and objectives. We may exercise discretion over the investment of the portfolio, or a portfolio may be maintained on a nondiscretionary basis. When granted discretionary authority, we will direct the investment and reinvestment of the assets in the client account(s) in securities and/or cash or cash equivalents. Alternatively, we may be granted non-discretionary authority, obtaining client consent prior to placing investment transactions on behalf of the client. Consulting We also offer investment advice on a more limited basis, outside of a formal financial planning agreement. This may include advice on only an isolated area(s) of concern such as estate planning, retirement planning, reviewing a client’s existing portfolio, or any other specific topic. Additionally, we may provide advice on non-securities matters; generally, in connection with the rendering of estate planning, insurance, and/or annuity advice. Tailored Relationships All of our advice is based on an assessment of each client’s individual needs, which we identify at the onset of each relationship using, as appropriate, client questionnaires and profiles, a review of existing investments and financial status, and other means. We periodically review each client’s individual investments and investment profile. When a client’s investment profile or needs change and we receive notice or additional information, we modify our advice, as appropriate. If we manage a client’s portfolio, we permit a client to impose restrictions on the types of investments that are acquired or held. These restrictions must be reasonable and practicable 6  and permit us to manage the account without undue difficulty. If we do not directly manage a client’s portfolio, such as when a third-party manager is designated, individually imposed restrictions on investments are generally not permitted. Sub-Adviser The Firm provides services to clients of another Investment Adviser; We provide a model portfolio to the Adviser for use with their clients. We are paid 0.25% annually, or 0.0208% monthly, based on the net asset value of any of the Adviser’s clients’ accounts that utilize the Firm’s model portfolio. Fiduciary Statement We are fiduciaries under the Investment Advisers Act of 1940 and when we provide investment advice to you regarding your retirement plan account or individual retirement account, we are also fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act, (“ERISA”) and/or the Internal Revenue Code, (“IRC”), as applicable, which are laws governing retirement accounts. We have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. We must take into consideration each client’s objectives and act in the best interests of the client. We are prohibited from engaging in any activity that is in conflict with the interests of the client. We have the following responsibilities when working with a client: • To render impartial advice; • To make appropriate recommendations based on the client’s needs, financial circumstances, and investment objectives; • To exercise a high degree of care and diligence to ensure that information is presented in an accurate manner and not in a way to mislead; • To have a reasonable basis, information, and understanding of the facts in order to provide appropriate recommendations and representations; • Disclose any material conflict of interest in writing; and • Treat clients fairly and equitably. Regulations prohibit us from: • Employing any device, scheme, or artifice to defraud a client; • Making any untrue statement of a material fact to a client or omitting to state a material fact when communicating with a client; • Engaging in any act, practice, or course of business which operates or would operate as fraud or deceit upon a client; or • Engaging in any manipulative act or practice with a client. 7  We will act with competence, dignity, integrity, and in an ethical manner, when working with clients. We will use reasonable care and exercise independent professional judgement when conducting investment analysis, making investment recommendations, trading, promoting our services, and engaging in other professional activities. Wrap Fee Program A “wrap-fee” program is one that provides the client with advisory and brokerage execution services for an all-inclusive fee. The client is not charged separate fees for the respective components of the total service. We do not sponsor, manage, or participate in a Wrap Fee Program. Assets Under Management As of December 31, 2024, we managed $301,133,763 in client assets on a discretionary basis. 8  Item 5: Fees and Compensation Compensation Clients may pay fees based on a percentage of their assets under management or hourly charges, fixed fees, subscription fees, referral fees or commissions. Compensation - Asset Management Fees For our asset management services, clients pay fees based on a percentage of their assets under management, by household. The maximum fee schedules are below. Value of Account First $5,000,000 Next $5,000,000 $10,000,000 and Above PERCENTAGE OF ASSETS UNDER MANAGEMENT Annual Fee (tiered) 1.00% 0.75% 0.60% This fee is payable quarterly, in advance, and is based upon the fair market value of a client's assets determined at the end of the preceding calendar quarter. The initial fee is due at the end of the quarter during which advisory services commence and is pro-rated to the end of the calendar quarter based on the initial deposit in the account. These fees are subject to negotiation and may vary from what is described above. An advisory contract with the Firm may be terminated upon 30 days' notice of either party and any unearned portion of prepaid fees, less any expenses incurred by the Firm in connection with the termination, will be refunded to the client. Compensation – Financial Planning and Consulting Financial Planning and Consulting fees will be charged in one of two ways: • As a fixed fee, typically ranging from $1,500 to $3,000, depending on the nature and complexity of each client’s circumstances • On an hourly basis of $250 to $500 per hour, or • On a monthly subscription basis of $100 per month. Fixed fee and hourly financial planning and consulting fees are typically invoiced and due in arrears upon presentation of the financial plan or completion of the consulting engagement for the client. Financial planning subscription fees are charged monthly in advance. Subscription services may include quarterly progress reports, access to a financial adviser via email or phone, and an annual one-page financial plan and employee benefits review. No investment advice is provided unless a client has opted into our asset management services in addition to this service. 9  Other Fees For asset management services provided by us, clients should expect to pay some, or all of the following additional expenses charged by third parties: • Custodial and similar fees and costs customarily associated with the maintenance of a • custody or brokerage account. Internal expenses associated with products such as mutual funds and ETFs, including investment management and 12b-1 fees. These internal expenses are typically calculated as a percentage of the fund’s assets under management. Some of these fees are retained by the product issuers, and some are paid to third parties, such as a custodian, for services including the maintenance of shareholder accounts and the distribution of prospectuses and similar items. More information about specific expenses charged by a fund or ETF may be found in the applicable prospectus. Because these expenses are directly deducted from a fund’s assets, they have the effect of reducing the performance of the investment. • Products, primarily mutual funds, may have multiple share classes, each class with different fee and compensation structures, which may include deferred sales charges. Charges for internal expenses may also differ among share classes, including investment management fees and 12b-1 fees. Mutual fund shares may be subject to these fees and expenses, and we may acquire shares other than those designated specifically for advisory or institutional accounts. Lower cost share classes for the same mutual fund may be available through another arrangement. • Other types of charges and expenses may be incurred, including mark-ups and mark- downs, odd-lot differentials, spreads paid to market makers from whom securities are obtained, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage and securities transactions. Fees and Expenses (Mutual Funds Share Class) Funds generally offer multiple share classes available for investment based upon certain eligibility and/or purchase requirements. For instance, in addition to retail share classes (typically referred to as class A, class B and class C shares), funds may also offer institutional share classes or other share classes that are specifically designed for purchase by investors who meet certain specified eligibility criteria, including, for example, whether an account meets certain minimum dollar amount thresholds or is enrolled in an eligible fee-based investment advisory program. Institutional share classes usually have a lower expense ratio than other share classes. The appropriateness of a particular fund share class selection is dependent upon a range of different considerations, including but not limited to: the asset-based advisory fee that is charged, whether transaction charges are applied to the purchase or sale of funds, operational considerations associated with accessing or offering particular share classes (including the presence of selling agreements with the fund sponsors and the Firm’s ability to access particular share classes through the custodian), share class eligibility requirements; and the availability of revenue sharing, distribution fees, shareholder servicing fees or other 10  compensation associated with offering a particular class of shares. Such charges, fees and commissions are exclusive of and in addition to the Firm’s fee, and the Firm shall not receive any portion of these commissions, fees, and costs, except as/where noted below in Other Fees – Commissions. Cash Balances Some of your assets may be held as cash and remain uninvested. Holding a portion of your assets in cash and cash alternatives, i.e., money market fund shares, may be based on your desire to have an allocation to cash as an asset class, to support a phased market entrance strategy, to facilitate transaction execution, to have available funds for withdrawal needs or to pay fees or to provide for asset protection during periods of volatile market conditions. Your cash and cash equivalents will be subject to our investment advisory fees unless otherwise agreed upon. You may experience negative performance on the cash portion of your portfolio if the investment advisory fees charged are higher than the returns you receive from your cash. Retirement Plan Rollover Recommendations As part of our investment advisory services to our clients, we may recommend that clients roll assets from their employer’s retirement plan, such as a 401(k), 457, or ERISA 403(b) account (collectively, a “Plan Account”), to an individual retirement account, such as a SIMPLE IRA, SEP IRA, Traditional IRA, or Roth IRA (collectively, an “IRA Account”) that we will advise on the client’s behalf. We may also recommend rollovers from IRA Accounts to Plan Accounts, from Plan Accounts to Plan Accounts, and from IRA Accounts to IRA Accounts. If the client elects to roll the assets to an IRA that is subject to our advisement, we will charge the client an asset-based fee as set forth in the advisory agreement the client executed with our firm. This creates a conflict of interest because it creates a financial incentive for our firm to recommend the rollover to the client (i.e., receipt of additional fee-based compensation). Clients are under no obligation, contractually or otherwise, to complete the rollover. Moreover, if clients do complete the rollover, clients are under no obligation to have the assets in an IRA advised on by our firm. Due to the foregoing conflict of interest, when we make rollover recommendations, we operate under a special rule that requires us to act in our clients’ best interests and not put our interests ahead of our clients.’ 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 our clients’ 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 our clients’ best interests; • charge no more than a reasonable fee for our services; and 11  • give clients basic information about conflicts of interest. Many employers permit former employees to keep their retirement assets in their company plan. Also, current employees can sometimes move assets out of their company plan before they retire or change jobs. In determining whether to complete the rollover to an IRA, and to the extent the following options are available, clients should consider the costs and benefits of a rollover. Note that an employee will typically have four options in this situation: 1. leaving the funds in the employer’s (former employer’s) plan; 2. moving the funds to a new employer’s retirement plan; 3. cashing out and taking a taxable distribution from the plan; or 4. rolling the funds into an IRA rollover account. Each of these options has positives and negatives. Because of that, along with the importance of understanding the differences between these types of accounts, we will provide clients with an explanation of the advantages and disadvantages of both account types and document the basis for our belief that the rollover transaction we recommend is in your best interests. Past Due Accounts and Termination of Agreement Either the Firm or a client may terminate any agreement at any time. To terminate the agreement, a client must notify us in writing and pay the rate for the time spent on the engagement prior to notification of termination. If the client made an advance payment, the Firm would refund any unearned portion of the advance payment. We may terminate any of the aforementioned agreements at any time by notifying the client in writing. If the client made an advance payment, we would refund any unearned portion of the advance payment. We reserve the right to stop work on any account that is more than 15 days past due. In addition, we reserve the right to terminate any financial planning engagement where a client has willfully concealed or has refused to provide pertinent information about financial situations when necessary and appropriate, in our judgment, to providing proper financial advice. Any unused portion of fees collected in advance will be refunded within 90 days. General Information on Compensation In certain circumstances, fees, account minimums 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. In addition to our investment advisory fees, clients are also responsible for the fees and expenses charged by custodians and imposed by broker dealers, including, but not limited to, any transaction 12  charges imposed by a broker dealer with which an independent investment manager affects transactions for the client’s account(s). All fees paid to the Firm for investment advisory services are separate and distinct from the fees and expenses charged by mutual funds and variable annuity sub-accounts to their shareholders. These fees and expenses are described in each fund’s or sub account’s prospectus. These fees will generally include a management fee, other expenses, and a possible distribution fee. If the fund also imposes sales charges, a client may pay an initial or deferred sales charge. Clients should note that similar advisory services may (or may not) be available from other registered investment advisers for similar or lower fees. 13  Item 6: Performance-Based Fees and Side-by-Side Management “Performance-based fees” are fees based on the capital gains or capital appreciation in an account. We do not charge performance-based fees. “Side-by-side management” refers to the practice of managing both accounts that are charged a performance-based fee and accounts that are charged other types of fees, such as asset- based fees and hourly fees. Because we do not charge performance-based fees, we do not engage in side-by-side management. 14  Item 7: Types of Clients We provide investment advice to: Individuals • • Retirement plans • Trusts, estates, and charitable organizations • Corporations We do not require a minimum account size, but we may charge a minimum annual fee of $7,500 based on assets under management (AUM). Alternatively, clients can opt for a subscription fee of $100 per month plus AUM, with no minimum account size required. 15  Item 8: Methods of Analysis, Investment Strategies, and Risk of Loss The Firm relies primarily on its research activities in formulating investment programs for clients and will continually follow the progress of existing investments. Research activities will include thorough management and industry contacts and will be supplemented by a variety of sources of investment information including financial newspapers and periodicals, corporate inspections, third party research, corporate ratings, timing services, required SEC filings, and corporate press releases. This information is then subjected to charting and fundamental, technical, and cyclical analyses, in order to obtain the greatest degree of evaluation. Fundamental analysis involves analyzing a company’s financial statements and health, its management and competitive advantages, and its competitors and markets. When analyzing a stock using fundamental analysis there are two basic approaches one can use; bottom up analysis (creating a portfolio by first looking at each company and that being the foundation of the long-term view) and top down analysis (which first seeks to evaluate macroeconomic trends and then create a portfolio to reflect the overall economic viewpoint.) Fundamental analysis is used to measure the intrinsic value of a security by looking at economic and financial factors (including the overall economy, industry conditions, and the financial condition and management of the company itself) to determine if the security is underpriced (indicating it may be a good time to buy) or overpriced (indicating it may be time to sell). Fundamental analysis does not attempt to anticipate market movements, which may present a potential risk since the price of a security may move up or down with the overall market regardless of the economic and financial factors considered in evaluating the stock. Technical analysis is a security analysis discipline for forecasting the direction of prices through the study of past market data; primarily price and volume. Technical analysis employs models and trading rules based on price and volume transformations, such as the relative strength index, moving averages, regressions, inter-market and intra-market price correlations, business cycles, stock market cycles or, classically, through recognition of chart patterns. We have retained Aptus Capital Advisors, LLC (Aptus) as a consultant for the Investment Committee. Aptus provides research, investment recommendations, and ongoing monitoring of investments. Aptus has no discretion over client investment portfolios and does not vote on the Investment Committee. Investment Strategies We use strategies that are appropriate to the needs of the client and consistent with the client's investment objectives, risk tolerance, time horizons, investment restrictions, and other considerations. The client may change these objectives at any time. We reserve the right to advise clients on any other type of investment that we deem appropriate based on the client’s stated goals and objectives and we may also provide advice 16  on any type of investment held in a client’s portfolio at the inception of the advisory relationship or on any investment on which the client requests advice. Specific strategies we use include long-term trading, short-term trading, short sales, margin transactions, and options writing (including covered options, uncovered options, or spreading strategies). Options: On occasion options strategies may be employed. When utilized, these strategies are generally used as a supplement to other investment designs. Strategies can vary depending on client’s needs. Commonly, use of options will be for income generation, including selling of puts and covered calls. Purchase of calls or puts may also be used, either for the prospects of capturing some equity upside or protecting from some portion of the downside. In general, we do not seek to use options to leverage risk. Options Contract Risk Investments in options contracts have the risk of losing value in a relatively short period of time. Option contracts are leveraged instruments that allow the holder of a single contract to control many shares of an underlying stock. This leverage can compound gains or losses. Risk of Loss Investing in securities involves risk of loss that clients should be prepared to bear. All investments involve the risk of loss, including (among other things) loss of principal, a reduction in earnings (including interest, dividends, and other distributions), and the loss of future earnings. Although we manage assets in a manner consistent with your investment objectives and risk tolerance, there can be no guarantee that our efforts will be successful. You should be prepared to bear the following risks of loss: • 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 security, 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. Inflation Risk: When any type of inflation is present, a dollar next year will not buy as much as a dollar today, because purchasing power is eroding at the rate of inflation. • Currency Risk: Overseas investments are subject to fluctuations in the value of the dollar against the currency of the investment’s originating country. This is also referred to as exchange rate risk. 17  • Reinvestment Risk: This is the risk that future proceeds from investments may have to be reinvested at a potentially lower rate of return (i.e., interest rate). This primarily relates to fixed income securities. • Business Risk: These risks are associated with a particular industry or a particular company within an industry. For example, oil-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 an electric company, which generates its income from a steady stream of customers who buy electricity no matter what the economic environment is like. • Liquidity Risk: Liquidity is the ability to readily convert an investment into cash. Generally, assets are more liquid if many traders are interested in a standardized product. For example, Treasury Bills are highly liquid, while real estate properties (i.e., Non-traded REITs and other alternative investments) are not. • Financial Risk: Excessive borrowing to finance a business’ operations increases the risk of profitability, because the company must meet the terms of its obligations in good times and bad. During periods of financial stress, the inability to meet loan obligations may result in bankruptcy and/or a declining market value. • Pandemic Risk: Large-scale outbreaks of infectious disease can greatly increase morbidity and mortality over a wide geographic area, crossing international boundaries, and causing significant economic, social, and political disruption. • Cybersecurity Risk: A breach in cyber security refers to both intentional and unintentional events that may cause an account to lose proprietary information, suffer data corruption, or lose operational capacity. This in turn could cause an account to incur regulatory penalties, reputational damage, and additional compliance costs associated with corrective measures, and/or financial loss. • Custodial Risk: This risk is the probability that a party to a transaction will be unable or unwilling to fulfill its contractual obligations either due to technological errors, control failures, malfeasance, or potential regulatory liabilities. It is not possible to list all risks associated with each class of securities or assets or each market sector. Clients should consult their Investment Adviser Representative for more information about specific risks that may be associated with the adviser’s investment strategy. Initial Public Offerings We typically do not participate on behalf of its clients in initial public offerings. 18  Item 9: Disciplinary Information We are required to disclose all pertinent facts regarding any legal, regulatory, or disciplinary events that would be material to your evaluation of the Firm or the integrity of our management. There have never been any legal, regulatory, or disciplinary actions against the Firm or our management persons. 19  Item 10: Other Financial Industry Activities and Affiliations Financial Industry Activities Our sole business is to provide investment advisory services to our clients. None of our employees are registered representatives of a broker-dealer and we are not registered as a broker-dealer, have an application pending to register as a broker-dealer, or have any other affiliation with a broker-dealer. Neither we nor any of our employees are currently registered or have an application pending to register as a futures commission merchant, commodity pool operator, or commodity trading adviser. We do not recommend or select other investment advisers for our clients. As noted in Item 4: Advisory Business, above, the Firm provides services to clients of another Investment Adviser. 20  Item 11: Code of Ethics, Participation or Interest in Clients Transactions and Personal Trading Code of Ethics We have a duty to exercise our authority and responsibility for the benefit of our clients, to place the interests of our clients first, and to refrain from having outside interests that conflict with the interests of our clients. We and our employees avoid any circumstances that might adversely affect, or appear to affect, our duty of loyalty. We have adopted a Code of Ethics (the Code); 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; and • Requirement to maintain confidentiality of client information. Our employees must acknowledge the terms of the Code at least annually. Any individual not in compliance with the Code may be subject to termination. We will provide a copy of our Code upon request. Participation or Interest in Client Transactions – Personal Securities Transactions The Firm and its employees may buy or sell securities identical to those recommended to clients for their personal accounts. If these trades occur ahead of clients, they must execute at a less advantageous price than the client’s price. The Code of Ethics, described above, is designed to assure that the personal securities transactions, activities and interests of our employees will not interfere with (i) making decisions in the best interest of 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 have been designated as exempt transactions, based upon a determination that these would materially not interfere with the best interest of our 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 to reasonably prevent conflicts of interest between the Firm and its clients. Participation or Interest in Client Transactions Neither we nor our employees recommend to clients or buy or sell for client accounts, 21  securities in which they have a material financial interest. Participation or Interest in Client Transactions – Aggregation Our employees may trade in the same securities with client accounts on an aggregated basis when consistent with our obligation of best execution. In such circumstances, the affiliated and client accounts will share commission costs equally and receive securities at a total average price. We will retain records of the trade order (and its allocation, which will be completed prior to the entry of the aggregated order). Completed orders will be allocated as specified in the initial trade order. Partially filled orders will be allocated on a pro rata basis. Any exceptions will be explained on the order. 22  Item 12: Brokerage Practices Research and Other Soft Dollar Benefits We do not receive formal soft dollar benefits other than execution from broker/dealers in connection with client securities transactions. See disclosure below in “Directed Brokerage – Other Economic Benefits.” Brokerage for Client Referrals We do not receive client referrals from broker/dealers. Client Directed Brokerage While not routine, the client may direct us to use a particular broker-dealer to execute some or all transactions for the client. This brokerage direction must be requested by the client in writing. In that case, the client will negotiate terms and arrangements for the account with that broker-dealer, and we will not seek better execution services or prices from other broker- dealers or be able to “batch” client transactions for execution through other broker-dealers with orders for other accounts managed by us. By directing brokerage, 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. Not all advisers require or allow their clients to direct brokerage. Subject to our duty of best execution, we may decline a client’s request to direct brokerage if, in our sole discretion, such directed brokerage arrangements would result in additional operational difficulties. If the client requests that we arrange for the execution of securities brokerage transactions for the client’s account, we shall direct such transactions through broker-dealers that we reasonably believe will provide best execution. We periodically and systematically review our policies and procedures regarding recommending broker-dealers to our client in light of our duty to obtain best execution. Brokerage – Other Economic Benefits We may have the opportunity to receive traditional “non-cash benefits” from brokers or custodians, such as customized statements; receipt of duplicate client confirmations and bundled duplicate statements; access to a trading desk servicing advisers exclusively; access to block trading which provides the ability to aggregate securities transactions and then allocate the appropriate shares to client portfolios; ability to have investment advisory fees deducted directly from client portfolios; access to an electronic communication network for client order entry and portfolio information; access to mutual funds which generally require significantly high minimum initial investments or those that are otherwise only generally available to institutional investors; reporting features; receipt of industry communications; and perhaps discounts on business-related products. We may also receive general access to research and perhaps discounts on research products. Any research received is used for the benefit of all clients. As noted above, we have no written 23  or verbal arrangements whereby we receive soft dollars. While we endeavor at all times to put the interest of the clients first as part of our fiduciary duty, clients should be aware that the receipt of any additional compensation itself creates a conflict of interest and may affect the judgment of these individuals when making recommendations. Trade Aggregation In certain circumstances we aggregate trades for multiple accounts, where administratively feasible (some brokers cannot place block trades). Orders for the same security entered on behalf of more than one client will generally be aggregated (i.e., blocked or bunched) subject to the aggregation being in the best interests of all participating clients. If the order is filled at different prices during the day, the prices are averaged for the day so that all participating accounts receive the same price. If an order has not been filled completely so that there are not enough shares to allocate among all the clients equally, shares will be allocated in good faith, based on the following considerations: amount of cash in the account, existing asset allocation and industry exposure, risk profile, and type of security. All clients participating in each aggregated order shall receive the average price and subject to minimum ticket charges, pay a pro-rata portion of commissions. Our allocation procedure seeks to be fair and equitable to all clients with no particular group or client(s) being favored or disfavored over any other clients. Accounts for the Firm or our employees may be included in a block trade with client accounts. 24  Item 13: Review of Accounts We monitor client portfolios as part of an ongoing process, and regular account reviews are generally conducted on a quarterly basis. Reviews could also occur at the time of new deposits, material changes in the client’s financial information, changes in economic cycles, at our discretion or as often as the client directs. Reviews entail analyzing securities, sensitivity to overall markets, economic changes, investment results, asset allocation, etc., to ensure the investment strategy and expectations are structured to continue to meet the client’s objectives. These reviews are conducted by one of our Investment Adviser Representatives. Clients are encouraged to discuss their needs, goals, and objectives with us and to inform us of any changes. Reporting Each quarter (and sometimes each month, depending on the account activity), 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. We may also provide clients with periodic reports regarding their holdings, allocations, and performance. Financial Planning – Reviews and Reporting An initial financial plan may be included as a component of the financial planning service. Clients may receive updated financial plans for a separate fee. 25  Item 14: Client Referrals and Other Compensation Compensation – Client Referrals We have been fortunate to receive many client referrals over the years. The referrals came from current clients, estate planning attorneys, accountants, employees, personal friends of employees, and other similar sources. We do not compensate referring parties for these referrals. 26  Item 15: Custody The Firm does not maintain custody of any clients’ securities or cash. Custody – Fee Debiting The client agreement authorizes us to deduct advisory fees directly from the client’s account at the custodian. With the exception of the ability to debit client accounts for advisory fees, we do not and will not have custody of clients’ funds or securities. Client assets shall be held in the custody of a bank, trust company or brokerage firm agreed upon by the client and us. The custodian is advised in writing of the limitation of our access to the account. The custodian sends a statement to the client, at least quarterly, indicating all amounts disbursed from the account including the amount of advisory fees paid directly to us. Custody – Account Statements As described above and previously in this document, clients receive at least quarterly statements from the broker dealer, bank or other qualified custodian that holds and maintains client’s investment assets. Clients are urged to carefully review such statements and compare such official custodial records to the reports that we provide. Our reports may vary from custodial statements based on accounting procedures, reporting dates, or valuation methodologies of certain securities. 27  Item 16: Investment Discretion We may accept limited power of attorney to act on a discretionary basis on behalf of clients. A limited power of attorney allows us to execute trades on behalf of clients. When such limited powers exist between the Firm and the client, we have the authority to determine, without obtaining specific client consent, both the amount and type of securities to be bought to satisfy client account objectives. If we have not been given discretionary authority, we consult with the client prior to each trade. 28  Item 17: Voting Clients Securities Proxy Voting We do not have any authority to and do not vote proxies on behalf of clients, nor do we make any express or implied recommendation with respect to voting proxies. Clients retain the sole responsibility for receiving and voting proxies that they receive directly from either their custodian or transfer agents. Clients may contact us for information about proxy voting. 29  Item 18: Financial Information We have no financial commitment that impairs our ability to meet contractual and fiduciary commitments to clients and have not been the subject of a bankruptcy proceeding during the past ten years. We do not solicit or require the pre-payment of account fees greater than or equal to $1,200 per client in the time span of six months or beyond, creating no obligation to provide financial information. 30  Form ADV Part 2B – Investment Adviser Brochure Supplement Form ADV Part 2B Investment Adviser Brochure Supplement 1200 Shermer Rd. STE 216 Northbrook, IL 600062 Phone: (847) 564-0970 Fax: (847) 728-8245 www.mendelmoney.com Bradley A. Mendel August 2025 This Brochure Supplement provides information about the Firm’s (“we,” “us,” “our”) employees that supplements our Brochure. You should have received a copy of that Brochure. Please contact Bradley A. Mendel, Chief Compliance Officer, Vice President And Wealth Adviser at (847) 564-0970 or compliance@mendelmoney.com if you did not receive our Brochure or if you have any questions about the contents of this Supplement. Additional information about our employee(s) referenced above is also available on the SEC’s website at www.adviserinfo.sec.gov. You may search this site using a unique identifying number, known as a CRD number for each employee. 31  Item 2: Education and Business Background We generally require that employees involved in making investment decisions and providing investment advice to have a college degree and/or significant experience in the investment management or financial services industries. Born 1982 Bradley A. Mendel CRD #: 6894292 Business Background: Mendel Money Management, Inc. Chief Compliance Officer, Vice President & Wealth Adviser Vice President & Wealth Adviser 2023 to Present 2013 to 2023 2006 to 2013 Shore Tompkins Actuarial Resources, LLC Defined Benefit Practice Manager 2006 Sperco Associates IT Consultant 2004 to 2006 SRV Network, Inc. IT Consultant Formal Education after High School: Northwestern University, Kellogg School of Management Master of Business Administration Boston University Bachelor of Arts in Computer Science Professional Designations: CERTIFIED FINANCIAL PLANNER™ (CFP®) Professional Certifications Bradley A. Mendel maintain professional designations, which required the following minimum requirements: CERTIFIED FINANCIAL PLANNER™ (CFP®) Issued By Certified Financial Planner Board of Standards, Inc. Candidate must meet the following requirements: Prerequisites • A bachelor’s degree (or higher) from an accredited college or university, and 32  • 3 years of full-time personal financial planning experience Education Requirements Candidate must complete a CFP®-board registered program, or hold one of the following: CPA ChFC Chartered Life Underwriter (CLU) CFA Ph.D. in business or economics Doctor of Business Administration Attorney's License • • • • • • • CFP® Certification Examination 30 hours every 2 years Exam Type Continuing Education Requirements Item 3: Disciplinary Information Bradley A. Mendel has not been involved in any activities resulting in a disciplinary disclosure. Item 4: Other Business Activities Bradley A. Mendel does not have any outside business activities. Item 5: Additional Compensation Bradley A. Mendel does not receive any economic benefit outside of regular salaries or bonuses. Item 6: Supervision Bradley A. Mendel, Chief Compliance Officer, Vice President and Wealth Adviser, supervises all persons named in this Form ADV Part 2B Investment Adviser Brochure Supplement. Bradley A. Mendel supervises these persons by holding regular staff, investment, and other ad hoc meetings. Bradley A. Mendel regularly reviews client reports, emails, and trading, as well as employees’ personal securities transactions and holdings reports. Bradley A. Mendel may be reached at (847) 564-0970. 33  Form ADV Part 2B – Investment Adviser Brochure Supplement Form ADV Part 2B Investment Adviser Brochure Supplement 1200 Shermer Rd. STE 216 Northbrook, IL 600062 Phone: (847) 564-0970 Fax: (847) 728-8245 www.mendelmoney.com Barry M. Mendel August 2025 This Brochure Supplement provides information about the Firm’s (“we,” “us,” “our”) employees that supplements our Brochure. You should have received a copy of that Brochure. Please contact Bradley A. Mendel, Chief Compliance Officer, Vice President And Wealth Adviser at (847) 564-0970 or compliance@mendelmoney.com if you did not receive our Brochure or if you have any questions about the contents of this Supplement. Additional information about our employee(s) referenced above is also available on the SEC’s website at www.adviserinfo.sec.gov. You may search this site using a unique identifying number, known as a CRD number for each employee. 34  Item 2: Education and Business Background We generally require that employees involved in making investment decisions and providing investment advice to have a college degree and/or significant experience in the investment management or financial services industries. Born 1950 Barry M. Mendel CRD #: 4366144 Business Background: Mendel Money Management, Inc. President and Chief Investment Officer President and Chief Compliance Officer 2023 to Present 1989 to 2023 1979 to 1989 Institutional Capital Portfolio Manager 1978 to 1979 Westwood Management Investment Counselor 1973 to 1978 Commonwealth Edison Company Securities Analyst Formal Education after High School: California State University, San Francisco Master of Business Administration in Finance University of Illinois, Urbana Bachelor of Science in Business Administration Professional Designations: Chartered Financial Analyst® (CFA®) Professional Certifications Barry A. Mendel maintain professional designations, which required the following minimum requirements: Chartered Financial Analyst® (CFA®) CFA Institute Issued By Candidate must meet one of the following requirements prior to enrollment: Prerequisites ▪ Hold a bachelor’s or equivalent degree from a college/university; 35  ▪ Be within 11 months of the graduation month for a bachelor’s degree or equivalent program by the date of sitting for the Level I exam; or ▪ Have a combination of 4,000 hours of work experience and/or higher education that was acquired over a minimum of three sequential years by the date of enrolling for the Level I exam; • Have 4,000 hours of qualified work experience in the investment decision-making process (accrued before, during, or after participation in the CFA Program); and • Submit two-to-three professional reference letters. Candidate must complete the following: • Self-study program (250 hours of study for each of the 3 Education Requirements levels) Three in-person, proctored, closed-book, computer-based exams None Exam Type Continuing Education Requirements Item 3: Disciplinary Information Barry A. Mendel has not been involved in any activities resulting in a disciplinary disclosure. Item 4: Other Business Activities Barry A. Mendel does not have any outside business activities. Item 5: Additional Compensation Barry A. Mendel does not receive any economic benefit outside of regular salaries or bonuses. Item 6: Supervision Bradley A. Mendel, Chief Compliance Officer, Vice President and Wealth Adviser, supervises all persons named in this Form ADV Part 2B Investment Adviser Brochure Supplement. Bradley A. Mendel supervises these persons by holding regular staff, investment, and other ad hoc meetings. In addition, Bradley S. Mendel regularly reviews client reports, emails, and trading, as well as employees’ personal securities transactions and holdings reports. Bradley A. Mendel may be reached at (847) 564-0970. 36  Form ADV Part 2B – Investment Adviser Brochure Supplement Form ADV Part 2B Investment Adviser Brochure Supplement 1200 Shermer Rd. STE 216 Northbrook, IL 600062 Phone: (847) 564-0970 Fax: (847) 728-8245 www.mendelmoney.com Mark B. Burka August 2025 This Brochure Supplement provides information about the Firm’s (“we,” “us,” “our”) employees that supplements our Brochure. You should have received a copy of that Brochure. Please contact Bradley A. Mendel, Chief Compliance Officer, Vice President And Wealth Adviser at (847) 564-0970 or compliance@mendelmoney.com if you did not receive our Brochure or if you have any questions about the contents of this Supplement. Additional information about our employee(s) referenced above is also available on the SEC’s website at www.adviserinfo.sec.gov. You may search this site using a unique identifying number, known as a CRD number for each employee. 37  Item 2: Education and Business Background We generally require that employees involved in making investment decisions and providing investment advice to have a college degree and/or significant experience in the investment management or financial services industries. Born 1950 Mark B. Burka CRD #: 1736769 2022 to Present Business Background: Mendel Money Management, Inc. Principal & Wealth Adviser 2005 to 2022 Zeigler Capital Management, LLC Senior Portfolio Manager 2003 to 2005 Burnham, Sullivan, Andelbradt Portfolio Manager 1977 to 2003 Aon Corporation Senior Vice President - Investments 1976 to 1977 Burton J. Vincent Chesley & Co. Research Analyst 1974 to 1976 Northern Trust Company Research Analyst Formal Education after High School: University of Chicago Masters in Finance, Accounting University of Wisconsin at Madison Bachelor of Arts in Economics, Philosophy Professional Designations: Chartered Financial Analyst® (CFA®) Professional Certifications Mark B. Burka maintains a professional designation, which requires the following minimum requirements: 38  Chartered Financial Analyst® (CFA®) CFA Institute Issued By Candidate must meet one of the following requirements prior to enrollment: ▪ Hold a bachelor’s or equivalent degree from a college/university; ▪ Be within 11 months of the graduation month for a bachelor’s degree or equivalent program by the date of sitting for the Level I exam; or Prerequisites ▪ Have a combination of 4,000 hours of work experience and/or higher education that was acquired over a minimum of three sequential years by the date of enrolling for the Level I exam; • Have 4,000 hours of qualified work experience in the investment decision-making process (accrued before, during, or after participation in the CFA Program); and • Submit two-to-three professional reference letters. Candidate must complete the following: • Self-study program (250 hours of study for each of the 3 Education Requirements levels) Three in-person, proctored, closed-book, computer-based exams None Exam Type Continuing Education Requirements Item 3: Disciplinary Information Mark B. Burka has not been involved in any activities resulting in a disciplinary disclosure. Item 4: Other Business Activities Mark B. Burka does not have any outside business activities. Item 5: Additional Compensation Mark B. Burka does not receive any economic benefit outside of regular salaries or bonuses. Item 6: Supervision Bradley A. Mendel, Chief Compliance Officer, Vice President and Wealth Adviser, supervises all persons named in this Form ADV Part 2B Investment Adviser Brochure Supplement. Bradley A. Mendel supervises these persons by holding regular staff, investment, and other ad hoc 39  meetings. In addition, Bradley A. Mendel regularly reviews client reports, emails, and trading, as well as employees’ personal securities transactions and holdings reports. Bradley A. Mendel may be reached at (847) 564-0970. 40  Form ADV Part 2B – Investment Adviser Brochure Supplement Form ADV Part 2B Investment Adviser Brochure Supplement 1200 Shermer Rd. STE 216 Northbrook, IL 600062 Phone: (847) 564-0970 Fax: (847) 728-8245 www.mendelmoney.com Alexander M. Wasiunec August 2025 This Brochure Supplement provides information about the Firm’s (“we,” “us,” “our”) employees that supplements our Brochure. You should have received a copy of that Brochure. Please contact Bradley A. Mendel, Chief Compliance Officer, Vice President And Wealth Adviser at (847) 564-0970 or compliance@mendelmoney.com if you did not receive our Brochure or if you have any questions about the contents of this Supplement. Additional information about our employee(s) referenced above is also available on the SEC’s website at www.adviserinfo.sec.gov. You may search this site using a unique identifying number, known as a CRD number for each employee. 41  Item 2: Education and Business Background We generally require that employees involved in making investment decisions and providing investment advice to have a college degree and/or significant experience in the investment management or financial services industries. Born 1993 Alexander M. Wasiunec CRD #: 7772948 2021 to Present Business Background: Mendel Money Management, Inc. Wealth Management Associate 2019 to 2021 Stepan Company Market Data Analyst 2017 to 2019 United Parcel Service Operations Supervisor Formal Education after High School: Indiana Wesleyan University Masters of Business Administration in Personal Financial Planning Saint Xavier University Bachelor of Arts in Business Administration Item 3: Disciplinary Information Alexander M. Wasiunec has not been involved in any activities resulting in a disciplinary disclosure. Item 4: Other Business Activities Alexander M. Wasiunec does not have any outside business activities. Item 5: Additional Compensation Alexander M. Wasiunec does not receive any economic benefit outside of regular salaries or bonuses. 42  Item 6: Supervision Bradley A. Mendel, Chief Compliance Officer, Vice President and Wealth Adviser, supervises all persons named in this Form ADV Part 2B Investment Adviser Brochure Supplement. Bradley A. Mendel supervises these persons by holding regular staff, investment, and other ad hoc meetings. In addition, Bradley A. Mendel regularly reviews client reports, emails, and trading, as well as employees’ personal securities transactions and holdings reports. Bradley A. Mendel may be reached at (847) 564-0970. 43