PHYSICIAN WEALTH SOLUTIONS INC.

Item 1 – Cover Page Physician Wealth Solutions Inc. d/b/a Physician Wealth Solutions 3844 Andorian Avenue North Las Vegas, NV 89084 404-386-7641 www.physicianwealthsolutions.com setu@financialplannerfordoctors.com Date of Brochure: September 12, 2025 ______________________________________________________________________ This brochure provides information about the qualifications and business practices of Physician Wealth Solutions Inc. d/b/a Physician Wealth Solutions. If you have any questions about the contents of this brochure, please contact us at 404-386-7641 or setu@financialplannerfordoctors.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. Additional information about Physician Wealth Solutions Inc. is also available on the SEC’s website at www.adviserinfo.sec.gov. The searchable IARD/CRD number for Physician Wealth Solutions Inc. is 151570. Physician Wealth Solutions Inc. is a Registered Investment Adviser. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training.  Item 2 – Material Changes Physician Wealth Solutions Inc.'s Brochure has been updated with the following material changes that have occurred since the last update of our brochure in February 2025: 1. In September 2025 the firm updated the added language regarding the custody of client assets. Please refer to Item 15 – Custody for more specific information. 2 PWS, Inc. Disclosure Brochure  Item 3 – Table of Contents Item 1 – Cover Page ....................................................................................................... 1 Item 2 – Material Changes .............................................................................................. 2 Item 3 – Table of Contents .............................................................................................. 3 Item 4 – Advisory Business ............................................................................................. 5 A. Description of Advisory Firm .................................................................................... 5 B. Types of Advisory Services ..................................................................................... 5 General Description of Primary Advisory Services ................................................... 5 C. Tailor Advisory Services to Individual Needs of Clients ......................................... 10 D. Participation in Wrap Fee Programs ...................................................................... 10 E. Client Assets Managed by Physician Wealth Solutions, Inc. ................................. 10 Item 5 – Fees and Compensation ................................................................................. 10 A. Fee Schedules ....................................................................................................... 10 Financial Planning for Individuals and Families ...................................................... 12 B. Fee Payment Options ............................................................................................ 14 Investment Management for Individuals and Families ............................................ 14 Retirement Plan Services (for corporate employer sponsored retirement plans) .... 14 C. Other Fees and Charges ....................................................................................... 15 D. Fee Payment Schedule ......................................................................................... 15 E. Compensation for the Sale of Securities or Other Investment Products ................ 16 Item 6 – Performance-Based Fees and Side-By-Side Management ............................. 16 Item 7 – Types of Clients ............................................................................................... 16 Minimum Investment Amount Guidelines ................................................................... 16 Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss ........................ 16 A. Investment Analysis and Strategies ....................................................................... 16 B. Risk of Loss ........................................................................................................... 18 C. Primarily Recommend One Type of Security ......................................................... 20 Item 9 – Disciplinary Information ................................................................................... 20 A. Civil or Criminal Actions ......................................................................................... 20 B: Administrative Enforcement Proceedings .............................................................. 20 C: Self-Regulatory Organization Enforcement Proceedings ...................................... 21 Item 10 – Other Financial Industry Activities and Affiliations ......................................... 21 A. Broker Dealers and Registered Representatives ................................................... 21 B. Registration as a Futures Commission Merchant, Commodity Pool Operator, or a Commodity Trading Advisor ....................................................................................... 21 C. Registration Relationships Material to this Advisory Business and Possible Conflicts of Interests .................................................................................................. 21 D. Selection of Other Advisors and How this Advisor is Compensated for those Selections .................................................................................................................. 21 Business Continuity Plan ........................................................................................ 22 3 PWS, Inc. Disclosure Brochure  E. Other business Activity of Company Principal ....................................................... 22 Item 11 – Code of Ethics, Participation in Client Transactions and Personal Trading ... 22 A. Code of Ethics Summary ....................................................................................... 22 B. Participation or Interest in Client Transactions ...................................................... 22 Affiliate and Employee Personal Securities Transactions Disclosure ..................... 22 C. Participation or Interest in Client Transactions ..................................................... 23 D. Participation or Interest in Client Transactions ..................................................... 23 Item 12 – Brokerage Practices ...................................................................................... 23 A. Selecting Brokerage Firms .................................................................................... 23 B. Trading Policy ........................................................................................................ 25 Item 13 – Review of Accounts ....................................................................................... 25 A: Periodic Reviews ................................................................................................... 25 Account Reviews and Reviewers ............................................................................... 25 B. Review Triggers ..................................................................................................... 25 C. Statements and Reports ........................................................................................ 26 Item 14 – Client Referrals and Other Compensation ..................................................... 26 A. Economic Benefits Provided by Third Parties for Advice Rendered to Clients ...... 26 B. Compensation to Non-Advisory Personnel for Client Referrals ............................. 26 Item 15 – Custody ......................................................................................................... 26 Item 16 – Investment Discretion .................................................................................... 27 Item 17 – Voting Client Securities ................................................................................. 28 Item 18 – Financial Information ..................................................................................... 28 A. Balance Sheet ....................................................................................................... 28 B. Financial Conditions .............................................................................................. 28 C. Bankruptcy Petition ............................................................................................... 28 Form ADV Part 2B Brochure Supplement ..................................................................... 29 4 PWS, Inc. Disclosure Brochure  Item 4 – Advisory Business A. Description of Advisory Firm Physician Wealth Solutions Inc. (“PWS”) is a registered investment adviser with the U.S. Securities and Exchange Commission. PWS is a fee only investment advisory and financial planning firm. PWS can do business as Physician Wealth Solutions. PWS has been in business since September 2013. The principal owner of PWS is Setu Mazumdar. B. Types of Advisory Services General Description of Primary Advisory Services The following are brief descriptions of our advisory services. A detailed description of each service is provided in Item 5 – Fees and Compensation so that you can review the services and description of fees in a side-by-side manner. PWS provides three services: Investment management for individuals and families, financial planning for individuals and families, and qualified retirement plan consulting services for qualified retirement plans. Investment Management Investment management services involve the direct management and continuous and ongoing supervision of a client’s investment portfolio across accounts mutually agreed upon by Client and PWS, including taxable accounts, IRAs, Roth IRAs, SEP IRAs, and other investment and retirement accounts. We specialize in managing investments through broadly diversified index funds and exchange-traded funds (ETFs). These funds offer cost-efficient access to broad diversification within each asset class, aiming to match the returns of their respective investment class while keeping expenses low. Assets Under Advisement/Held-Away Asset Services We offer guidance on held-away assets at the client’s request. These assets include accounts held outside PWS’s primary custodian, such as employer-sponsored 401(k) and 403(b) plans, 529 accounts, separately managed accounts, mutual funds, or trusts. As part of this service, we provide ongoing monitoring and advice and integrate these assets into the client’s overall portfolio. Our held-away services include, but are not limited to, recommendations for security transactions and assistance with rebalancing held-away portfolios. While PWS offers guidance, the client retains responsibility for executing trades within these accounts. 5 PWS, Inc. Disclosure Brochure  Financial Planning Financial planning services encompass a review of personal and financial goals, insurance needs, household cash flow, retirement spending strategies, estate planning, and education funding. We also provide tailored financial guidance to address client- specific questions and coordination with other professional advisors such as accountants and attorneys. Retirement Plan Services – PWS offers retirement plan services to retirement plan sponsors and to individual participants in retirement plans. For a corporate sponsor of a retirement plan, retirement plan services can include, but are not limited to, the following services: Fiduciary Consulting Services PWS provides the following Fiduciary Retirement Plan Consulting Services: ● Investment Policy Statement Preparation. PWS will help you develop an investment policy statement. The investment policy statement establishes the investment policies and objectives for the Plan. You will have the ultimate responsibility and authority to establish such policies and objectives and to adopt and amend the investment policy statement. ● Investment Selection Services. PWS will provide you with recommendations of investment options consistent with ERISA section 404(c). ● Investment Monitoring. PWS will assist in monitoring investment options in the following ways: the custodian will prepare periodic investment reports that document investment performance, consistency of fund management and conformation to the guidelines set forth in the investment policy statement, and PWS will make recommendations to maintain or remove and replace investment options. ● Non-Discretionary Investment Advice. PWS will provide you with general, non- discretionary investment advice regarding assets classes and investment options, consistent with the Plan’s investment policy statement. ● Default Investment Alternative Advice. PWS will provide non-discretionary investment advice to assist you with the development of qualified default investment alternative(s) (“QDIA”), as defined in DOL Reg. Section 2550.404c- 5(e)(4)(i), for participants who are automatically enrolled in the Plan or who otherwise fail to make an investment election. You retain the sole responsibility to provide all notices to participants required under ERISA section 404(c)(5). 6 PWS, Inc. Disclosure Brochure  PWS acknowledges that in performing the Fiduciary Consulting Services listed above that it is acting as a “fiduciary” as such term is defined under Section 3(21)(A)(ii) of Employee Retirement Income Security Act of 1974 (“ERISA”) for purposes of providing non-discretionary investment advice only. PWS will act in a manner consistent with the requirements of a fiduciary under ERISA if, based upon the facts and circumstances, such services cause PWS to be a fiduciary as a matter of law. However, in providing the Fiduciary Consulting Services, PWS (a) has no responsibility and will not (i) exercise any discretionary authority or discretionary control respecting management of Client’s retirement plan, (ii) exercise any authority or control respecting management or disposition of assets of Client’s retirement plan, or (iii) have any discretionary authority or discretionary responsibility in the administration of Client’s retirement plan or the interpretation of Client’s retirement plan documents, (b) is not an “investment manager” as defined in Section 3(38) of ERISA and does not have the power to manage, acquire or dispose of any plan assets, and (c) is not the “Administrator” of Client’s retirement plan as defined in ERISA. Non-Fiduciary Services PWS provides clients with the following Non-Fiduciary Retirement Plan Consulting Services: ● Participant Education. PWS will provide education services to Plan participants about general investment principles and the investment alternatives available under the Plan. PWS’s assistance in participant investment education will be consistent with and within the scope of DOL Interpretive Bulletin 96-1. Education presentations will not take into account the individual circumstances of each participant and individual recommendations will not be provided unless otherwise agreed upon. Plan participants are responsible for implementing transactions in their own accounts. ● Participant Enrollment. PWS will assist you with group enrollment meetings designed to increase retirement plan participation among employees and investment and financial understanding by the employees. Although an investment adviser is considered a fiduciary under the Investment Advisers Act of 1940 and required to meet the fiduciary duties as defined by the Advisers Act, the services listed here as non-fiduciary should not be considered fiduciary services for the purposes of ERISA since Advisor is not acting as a fiduciary to the Plan as the term “fiduciary” is defined in Section 3(21)(A)(ii) of ERISA. The exact suite of services provided to a client will be listed and detailed in the Qualified Retirement Plan Agreement. 7 PWS, Inc. Disclosure Brochure  All recommendations of investment options and portfolios will be submitted to the client for the client’s ultimate approval or rejection. Therefore, it is always the client’s responsibility to accept investment recommendations of PWS and then physically make changes to the plan itself. In the event a client contracts with PWS for one-on-one consulting services with plan participants, such services are consultative in nature and do not involve PWS implementing recommendations in individual participant accounts. It will be the responsibility of each participant to implement changes in the participant’s individual accounts. PWS can also meet with individual participants to discuss their specific investment risk tolerance, investment time frame and investment selections. Retirement plan consulting services are not management services, and PWS does not serve as administrator or trustee of the plan. PWS does not act as custodian for any client account or have access to client funds or securities (with the exception of, some accounts, having written authorization from the client to deduct PWS’s fees). In addition, PWS does not implement any transactions in a retirement plan or participant’s account. For retirement plan consulting services, the retirement plan or the plan participant who elects to implement any recommendations made by PWS is solely responsible for implementing all transactions. PWS will disclose, to the extent required by ERISA Regulation Section 2550.408b-2(c), to you any change to the information that PWS is required to disclose under ERISA Regulation Section 2550.408b-2(c)(1)(iv) as soon as practicable, but no later than sixty (60) days from the date on which PWS is informed of the change (unless such disclosure is precluded due to extraordinary circumstances beyond PWS’s control, in which case the information will be disclose as soon as practicable). In accordance with ERISA Regulation Section 2550.408b-2(c)(vi)(A), PWS will disclose within thirty (30) days following receipt of a written request from the responsible plan fiduciary or Plan Administrator (unless such disclose is precluded due to extraordinary circumstances beyond PWS’s control, in which case the information will be disclosed as soon as practicable) all information related to the Qualified Retirement Plan Agreement and any compensation or fees received in connection with the Agreement that is required for the Plan to comply with the reporting and disclosure requirements of Title 1 of ERISA and the regulations, forms and schedules issued thereunder. 8 PWS, Inc. Disclosure Brochure  If PWS makes an unintentional error or omission in disclosing the information required under ERISA Regulation Section 2550.408b-2(c)(1)(iv) or (vi), PWS will disclose to you the correct information as soon as practicable, but no later than thirty (30) days from the date on which PWS learns of such error or omission. IRA Rollovers - When recommending that a client rollover his or her account from current retirement plan to an IRA, PWS and its investment adviser representatives have a conflict of interest. PWS and its representatives can earn investment advisory fees by recommending that a client rollover his or her account at the retirement plan to an IRA; however, PWS and its investment adviser representatives will not earn any investment advisory fee if client does not rollover the funds in the retirement plan (unless a client retained PWS to provide advice about the client’s retirement plan account). Thus, PWS and its investment adviser representatives have an economic incentive to recommend a rollover of the retirement plan account, which is a conflict of interest. PWS has taken steps to manage this conflict of interest arising from rolling over funds from an ERISA covered retirement plan to an IRA and has adopted an impartial conduct standard through its code of ethics whereby PWS and its investment adviser representatives will (i) provide investment advice to ERISA covered retirement plan participant regarding a rollover of funds from the ERISA covered retirement plan in accordance with the fiduciary status described below, (ii) not recommend investments which result in PWS receiving unreasonable compensation related to the rollover of funds from the ERISA covered retirement plan to an IRA, and (iii) fully disclose compensation received by PWS and its supervised persons and any material conflicts of interest related to PWS recommending the rollover of funds from the ERISA covered retirement plan to an IRA and refrain from making any materially misleading statements regarding such rollover. To the extent PWS provides investment advice to a participant in a retirement plan under Employee Retirement Income Security Act of 1974 as amended ("ERISA") regarding whether to maintain investments and/or proceeds in an ERISA retirement plan, rollover such investment/proceeds from the ERISA retirement plan to an individual retirement account (“Rollover IRA account”) or make a distribution from the ERISA retirement plan, PWS hereby acknowledges its fiduciary obligations with regard to its investment advice about whether to maintain, rollover or distribute proceeds from those ERISA retirement plans, and as such a fiduciary with respect to its investment advice about whether to maintain, rollover or distribute proceeds from those ERISA retirement plans, PWS and its representatives shall act with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims, based on the investment objectives, risk, tolerance, 9 PWS, Inc. Disclosure Brochure  financial circumstances, and a client’s needs, without regard to the financial or other interests of PWS or its affiliates. C. Tailor Advisory Services to Individual Needs of Clients Our services are provided based on the individual needs of each client. This means, for example, that the client is given the ability to impose restrictions on their accounts, including restricting specific investment selections and sectors. We work with you on a one-on-one basis through interviews and questionnaires to determine your investment objectives and suitability information. D. Participation in Wrap Fee Programs PWS does not participate in wrap fee programs. E. Client Assets Managed by Physician Wealth Solutions, Inc. As of 12/31/24 PWS manages $256,551,873 in total assets. Of that total PWS manages $256,551,873 in discretionary assets and $0 in non-discretionary assets. Item 5 – Fees and Compensation In addition to the information provided in Item 4 – Advisory Business, this section provides details regarding our services along with descriptions of each service’s fees and compensation arrangements. A. Fee Schedules Investment Management For Individuals and Families PWS offers investment management services for individuals and families that are billed on an annual fee based upon the assets placed under our management and under our advisement or on a fixed annual fee basis. The specific type of fee schedule for each client will be determined based on factors such as the value of a client’s assets under advisement (held away assets), the level of investable assets, the complexity of the client’s situation, and other factors. 10 PWS, Inc. Disclosure Brochure  Assets Under Management Fee Schedule: Portfolio Value Annual Fee First $1 million Next $1 million Amounts above $2 million 1.0% 0.8% 0.6% The fee schedule is subject to a minimum annual fee. Clients pay the higher of the minimum annual fee or the fee as calculated by the fee schedule. Both the fee schedule and minimum annual fee are negotiable. The Portfolio Value is the combined total of all investment management accounts and assets under advisement. Investment management accounts consist of discretionary and nondiscretionary assets directly managed by PWS, where trades can be executed by PWS. Assets under advisement refer to held-away accounts, such as 401(k), 403(b), and other employer-sponsored retirement plans, as well as any additional accounts mutually agreed upon by PWS and the client. For instance, if a client has a discretionary account directly managed by PWS and an employer-sponsored 401(k) plan that PWS advises on but cannot trade within (with the client responsible for executing trades), the values of both accounts are combined to determine the Portfolio Value. The Portfolio Value is then used to calculate the investment advisory fee, based on the applicable fee schedule and subject to the minimum annual fee. For assets under advisement, such as employer-sponsored retirement accounts that PWS does not manage directly, the client remains responsible for executing buy and sell transactions based on PWS’s guidance. Clients pay fees in advance for each quarter. PWS, in its sole discretion, can negotiate to charge a lower annual investment advisory fee based upon certain circumstances (anticipated future earning capacity, anticipated future additional assets, pre-existing client relationship, and other factors). Existing clients can have a fee schedule that is different from the current fee schedule. Fixed Annual Fee Asset Management Fee Schedule: Fees charged for fixed annual fee asset management services are negotiable based on the type of client, the complexity of the client's situation, the composition of the client's accounts, number and type of accounts, the relationship of the client with the 11 PWS, Inc. Disclosure Brochure  investment adviser representative, and the total amount of assets under management and advisement for the client. The actual fee to be charged will be discussed in advance with you and specified in the client agreement executed at the beginning of our engagement. Fees for our asset management services provided on a fixed annual fee basis are billed quarterly in advance (at the beginning of the billing period). If asset management services are commenced in the middle of the billing period, then the prorated fee for that billing period will be billed in arrears at the end of that billing period. Fixed fee arrangements will be reviewed on an annual basis. Material changes in a Client’s situation can result in a change in PWS’s annual fixed fee. Throughout the relationship, PWS will periodically review the fixed fee for each Client and update it based on factors such as inflation, the complexity of the Client’s financial situation, composition of the client’s account, total amount of assets under management and advisement, and other factors. As stated in our client agreement Clients will receive 30 days advance written notice of any fee changes. The Fixed Fee Asset management services continue until terminated by either party (i.e., PWS or you) by giving thirty (30) days written notice to the other party. When fees are billed in advance, PWS will promptly refund any unearned fees up to the date of termination. PWS believes that its annual fee is reasonable in relation to: (1) services provided and (2) the fees charged by other investment advisers offering similar services/programs. However, PWS’s annual investment advisory fee can be higher than that charged by other investment advisers offering similar services/programs. In addition to PWS’s fee, you can also incur charges imposed at the mutual fund level (e.g., advisory fees and other fund expenses). It should be noted that lower fees for comparable services can be available from other sources. Financial Planning for Individuals and Families Financial planning services are included in the fee schedule for investment management mentioned above. There is no separate fee for financial planning. 12 PWS, Inc. Disclosure Brochure  Retirement Plan Services (for corporate employer sponsored retirement plans) PWS offers retirement plan services for corporate employer sponsored retirement plans that are billed on an annual fee based upon the total market value of the plan assets or on a fixed annual fee basis. The specific type of fee schedule for each client will be determined based on factors such as the total market value of plan assets, the complexity of the client’s situation, and other factors. The actual fee to be charged will be discussed in advance with you and specified in the client agreement executed at the beginning of our engagement. If the plan is billed based on the total value of the plan assets, then the annual fee is 0.5% of the total market value of the plan assets subject to a minimum annual fee. Clients pay the higher of the minimum annual fee or the fee as calculated by the fee schedule. Both the fee schedule and minimum annual fee are negotiable. Fees for retirement plan services provided on a fixed annual fee basis are billed quarterly in advance (at the beginning of the billing period). If retirement plan services are commenced in the middle of the billing period, then the prorated fee for that billing period will be billed in arrears at the end of that billing period. Fees charged for fixed annual retirement plan services are negotiable based on complexity of the plan, the size of the plan assets, the actual services requested, the representative providing the services and the potential for additional deposits. Material changes in a Client’s situation can result in a change in PWS’s fee. Throughout the relationship, it is anticipated that PWS will periodically review the fixed-fee for each Client and update it based on factors such as the complexity of the Client’s plan, the size of the plan assets, the actual services requested, the representative providing the services, the potential for additional deposits, and other factors. The Client will be notified of any fee changes in writing, and if the result is a fee increase it must be acknowledged by the Client in writing before taking effect PWS believes that its annual fee is reasonable in relation to: (1) services provided and (2) the fees charged by other investment advisers offering similar services/programs. However, PWS’s annual investment advisory fee can be higher than that charged by other investment advisers offering similar services/programs. In addition to PWS’s fee, you can also incur charges imposed at the mutual fund level (e.g., advisory fees and other fund expenses). The Fixed Fee retirement plan services continue until terminated by either party (i.e., PWS or you) by giving thirty (30) days written notice to the other party. When fees are 13 PWS, Inc. Disclosure Brochure  billed in advance, PWS will promptly refund any unearned fees up to the date of termination. PWS does not accept commissions from mutual funds, insurance products, mutual fund companies, insurance companies or any other source. PWS does not accept referral fees from any source. B. Fee Payment Options Investment Management for Individuals and Families Investment management fees are deducted from your account and paid directly to PWS by the qualified custodian(s) of your account. PWS deducts fees and bills clients every quarter (3 months) on or about the first day of each quarter (January 1, April 1, July 1, and October 1). PWS retains the right to impose a $50 late fee for payments outstanding more than 30 days. In addition, PWS retains the right to impose a $100 late fee for payments outstanding more than 60 days. Client accounts that remain delinquent in excess of 60 days will be subject to the termination of the investment advisory services agreement at the discretion of PWS. The asset management services will continue in effect until terminated by either party (i.e., PWS or you) by providing written notice of termination to the other party. If services are terminated within five business days of signing the client agreement, services are terminated without penalty. Any prepaid but unearned fees are promptly refunded to the client at the effective date of termination. Retirement Plan Services (for corporate employer sponsored retirement plans) For retirement plan sponsors and participants, fees are billed in advance (at the start of the billing period) on a quarterly calendar basis and calculated based on the fair market value of your account as of the last business day of the previous billing period. Fees are prorated (based on the number of days service is provided during the initial billing period) for your account opened at any time other than the beginning of the billing period. The investment advisory fees can be deducted from your account and paid directly to PWS by the qualified custodian(s) of your account. PWS deducts fees and bills clients every quarter (3 months) on or about the first day of each quarter (January 1, April 1, July 1, and October 1). 14 PWS, Inc. Disclosure Brochure  You should review your account statements received from the qualified custodian(s) and verify that appropriate investment management fees are being deducted. The qualified custodian(s) will not verify the accuracy of the investment management fees deducted. PWS retains the right to impose a $50 late fee for payments outstanding more than 30 days. In addition, PWS retains the right to impose a $100 late fee for payments outstanding more than 60 days. Client accounts that remain delinquent in excess of 60 days will be subject to the termination of the investment advisory services agreement at the discretion of PWS. C. Other Fees and Charges PWS does not reasonably expect to receive any other compensation, direct or indirect, for its Services. If PWS receives any other compensation for such services, PWS will (i) offset that compensation against PWS’s stated fees, and (ii) will disclose the amount of such compensation, the services rendered for such compensation and the payer of such compensation to you. In addition to PWS’s fee, clients will incur mutual fund expenses, and brokerage fees charged by the custodian. PWS does not receive any of these fees and does not accept commissions from mutual fund companies, insurance companies, brokerage firms, or custodians. Please see the Brokerage section of this Form ADV Part 2A for more information on brokerage. D. Fee Payment Schedule As stated previously all clients are required to pay investment advisory fees in advance. If the client is billed based on assets under management, then the fee is based upon the Portfolio Value as of the last day of the previous quarter. For example, the fee for the second quarter of the calendar year (April 1-June 30) is based upon the Portfolio Value as of March 31. If a client terminates an advisory contract before the end of a billing period, then PWS will refund a prorated amount of the quarterly fee based upon the number of days left in the quarter. For example, if a quarter has 90 days and the client terminates the advisor contract on day number 44, then PWS will refund 46/90 of the fee that has been paid for that quarter to the client. 15 PWS, Inc. Disclosure Brochure  E. Compensation for the Sale of Securities or Other Investment Products PWS does not accept commissions from mutual funds, insurance products, mutual fund companies, insurance companies or any other source. PWS does not accept referral fees from any source. PWS does not accept compensation from the sale of securities or the sale of other investment products and does not accept asset-based sales charges or service fees from the sale of mutual funds. PWS does not charge commissions or markups. Item 6 – Performance-Based Fees and Side-By-Side Management Item 6 of the Form ADV Part 2 instructions is not applicable to this Disclosure Brochure because PWS, Inc. does not charge or accept performance-based fees which can be defined as fees based on a share of capital gains on or capital appreciation of the assets held within a client’s account. Item 7 – Types of Clients PWS provides investment advice to the following types of clients: Individuals ● ● Pension and profit-sharing plans ● Trusts, estates and charitable organizations ● Corporations and business entities other than those listed above Minimum Investment Amount Guidelines There is no minimum account size for opening or maintaining an account. There is a negotiable annual minimum fee for establishing a relationship with PWS. Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss A. Investment Analysis and Strategies PWS employs a variety of methods to develop investment advice for clients. These methods include: 16 PWS, Inc. Disclosure Brochure  Risk Assessment: Evaluating each client’s ability, willingness, and need to take on risk to determine the appropriate level of risk for their portfolio. Product Selection: Identifying investment products and vehicles that align closely with the client’s risk profile and financial objectives. Cost Analysis: Analyzing the fees and expenses associated with funds used in client portfolios to ensure cost-efficiency. Diversification Review: Assessing the level of diversification within each fund to optimize portfolio balance and reduce risk. Tax Efficiency Analysis: Evaluating tax efficiency of funds to maximize after-tax returns for the client. PWS uses the following sources for analyzing specific investments and mutual funds: 1. Financial newspapers and magazines 2. Research reports prepared by mutual fund companies 3. Academic research in financial journals 4. Annual reports and prospectuses 5. Company press releases Physician Wealth Solutions, Inc. uses the following investment strategies when managing client assets and/or providing investment advice. PWS’s investment strategies and philosophy are guided by the following principles: 1. Market Efficiency: Markets reflect all available information, making it unlikely to consistently outperform the market over the long term. As a result, PWS does not engage in market timing or stock picking. 2. Asset Allocation Focus: The mix of different investments (asset allocation) is the primary driver of investment returns. PWS prioritizes creating an appropriate asset allocation over individual security selection, avoiding market timing and stock picking. 3. Risk and Return Correlation: Higher potential returns come with higher risks. PWS aligns clients’ portfolios with their risk tolerance and financial goals. 17 PWS, Inc. Disclosure Brochure  4. Broad Diversification: PWS diversifies portfolios across multiple asset classes and within each asset class. This approach reduces the impact of individual security or asset class risk while maintaining broad market exposure. 5. Passive Investment Approach: PWS primarily uses index funds, asset class funds, and ETFs. These passive investment vehicles focus on replicating market performance by owning a broad range of securities rather than engaging in active management. 6. Cost Efficiency: By using low-cost index and broadly diversified funds and avoiding frequent trading, PWS minimizes investment expenses in client portfolios. 7. Portfolio Rebalancing: Portfolios are periodically rebalanced to ensure they remain aligned with the client’s risk tolerance and investment strategy. 8. Tax-Efficient Asset Location: PWS considers the tax implications of asset placement, optimizing the location of investments between tax-deferred and taxable accounts. 9. Tax Management for Taxable Accounts: For taxable accounts, PWS may use tax-managed funds to minimize tax liabilities and enhance after-tax returns. PWS does not guarantee the performance of client portfolios or any particular mutual fund. Clients should expect to lose money in their portfolios from time to time. This is expected because stock market and bond market investing is risky. B. Risk of Loss Clients must understand that past performance is not indicative of future results. Therefore, current and prospective clients (including you) should never assume that future performance of any specific investment or investment strategy will be profitable. Investing in securities (including stocks, mutual funds, and bonds) involves risk of loss. Further, depending on the different types of investments there are varying degrees of risk. Clients and prospective clients should be prepared to bear investment loss including loss of original principal. These investing strategies involve a risk of loss and from time to time client portfolios will have losses. Investing in securities involves risk of loss that clients should be prepared to bear. PWS does not guarantee the performance of any investment vehicle, investment strategy, or the overall portfolio. The investment strategies and methods of analysis involve the following types of risk: 18 PWS, Inc. Disclosure Brochure  1. Market risk—the risk that an individual security or the overall portfolio will lose money based on being invested in the market. 2. Inflation risk—the risk that the return of the portfolio will underperform inflation and the risk of losing money with high inflation, especially with bond investments. 3. Interest rate risk—the risk that bond investments can drop in value if interest rates rise 4. Reinvestment risk—the risk that the interest rate of bond investments can drop and the interest which is reinvested in bonds will have a lower rate of return because of lower interest rates. 5. Currency risk—the risk that international investments and mutual funds will lose value if foreign currencies become weaker than the US dollar 6. Event risk—the risk of losing money based upon unusual and significant global and political events 7. Political risk—the risk or investing internationally and losing money if other governments have political instability. 8. Tax Risk—the risk of losing money based on changes in the tax laws 9. Manager risk—the risk of losing money based on the fund manager’s investment decisions 10. Liquidity risk—the risk of losing money because of investments that cannot be sold immediately for a predetermined price 11. Tracking error risk—the risk that a diversified portfolio’s return is different than a non-diversified portfolio that invests in only a limited number of securities or one asset class 12. ETF and Mutual Fund Risk – When investing in an ETF or mutual fund, you will bear additional expenses based on your pro rata share of the ETF’s or mutual fund’s operating expenses, including the potential duplication of management fees. The risk of owning an ETF or mutual fund reflects the risks of owning the underlying securities the ETF or mutual fund holds. You will also incur brokerage costs when purchasing ETFs. Both ETFs and mutual funds have risks mentioned above. 13. Outbreaks of Communicable Infections or Diseases - Disease outbreaks and other public health conditions, such as the global outbreak of the novel COVID- 19 (“coronavirus”) currently being experienced, in markets in which PWS has made and will continue to make investments, can have a significant negative impact on certain investments. Global financial markets, which includes U.S. markets, have begun to reflect the uncertainty associated with the slowdown in the economy and the potential impact if businesses, workers, customers and others are prevented or restricted from conducting business activities due to quarantines, business closures or other restrictions imposed by businesses or governmental authorities in response to the coronavirus outbreak. This can 19 PWS, Inc. Disclosure Brochure  result in an economic downturn and cause market disruption which negatively impacts PWS’ investments. The imposition of international and domestic travel restrictions and the potential disruption to PWS’ business if PWS’ employees are subject to quarantine, contract coronavirus, or are otherwise unable to work due to restrictions related to the coronavirus outbreak can negatively impact PWS’ business and can have a material adverse effect on PWS’ ability to manage client assets. Due to the significant disruptions resulting from the risks described above, PWS has a business continuity plan that has been implemented, pursuant to which personnel will work from home or remote locations. PWS believes that it has taken and will continue to take all necessary actions pursuant to its business continuity plan, but PWS will have increased exposure to such disruptions. PWS will monitor all these potential issues in order to ensure that PWS’ business continues as normal to the greatest extent possible and the health and safety of its employees, clients, service providers and principals are given the highest priority. There can be other risks in client portfolios in addition to the main ones listed above. C. Primarily Recommend One Type of Security PWS recommends primarily passive investment vehicles such as index funds, asset class funds, and exchange traded funds (ETFs). Index funds, asset class funds, and ETFs have the same risks as noted above. Item 9 – Disciplinary Information A. Civil or Criminal Actions PWS and its managers have never been found guilty, convicted or plead no contest to a criminal or civil action in a domestic, foreign or military court. B: Administrative Enforcement Proceedings PWS and its managers have never been found by the SEC, any other state or federal agency or any foreign regulatory agency to have caused loss of the ability of an investment related business to do business or been sanctioned, barred or limited in investment-related activities. 20 PWS, Inc. Disclosure Brochure  C: Self-Regulatory Organization Enforcement Proceedings PWS and its managers have never been found by a self-regulatory agency to have caused loss of the ability of an investment-related business to do business. Additionally, PWS and its managers have never been found in violation of self-regulatory agencies rules such that they were barred, suspended, limited in advisory functions or fined. Item 10 – Other Financial Industry Activities and Affiliations A. Broker Dealers and Registered Representatives PWS and its representatives are not registered as broker-dealers or as registered representatives of a broker-dealer. B. Registration as a Futures Commission Merchant, Commodity Pool Operator, or a Commodity Trading Advisor PWS and its representatives are not registered as a futures commission merchant, commodity pool operator, a commodity trading advisor, or an associated person of the foregoing entities. C. Registration Relationships Material to this Advisory Business and Possible Conflicts of Interests PWS does not have any relationship or arrangement that is material to clients and that can result in a conflict of interest with any of the following: broker-dealer, municipal securities dealer, government securities dealer or broker, investment company or other pooled investment vehicle, other investment adviser or financial planner, futures commission merchant, commodity pool operator, commodity trading advisor, banking or thrift institution accountant or accounting firm, lawyer or law firm, insurance company or agency, pension consultant, real estate broker or dealer, sponsor or syndicator of limited partnerships. D. Selection of Other Advisors and How this Advisor is Compensated for those Selections PWS does not receive compensation directly or indirectly from other investment advisers that are recommended to clients. 21 PWS, Inc. Disclosure Brochure  Business Continuity Plan As a fiduciary, Physician Wealth Solutions Inc. has certain legal obligations, including the obligation to act in clients’ best interest. Physician Wealth Solutions Inc. maintains a Business Continuity and Succession Plan and seeks to avoid a disruption of service to clients in the event of an unforeseen loss of key personnel, due to disability or death. To that end, Physician Wealth Solutions Inc. has entered into a succession agreement with The Colony Group, LLC, effective April 5, 2019. Physician Wealth Solutions Inc. can provide additional information to any current or prospective client upon request to Setu S. Mazumdar, President at (404) 386-7641 or setu@FinancialPlannerForDoctors.com. E. Other business Activity of Company Principal None. Item 11 – Code of Ethics, Participation in Client Transactions and Personal Trading A. Code of Ethics Summary PWS has adopted a code of ethics pursuant to SEC rule 204A-1. Specifically, PWS code of ethics is based on the principle that all Advisory Representatives of PWS have a fiduciary duty to place the interest of Clients ahead of their own and PWS’s interests. PWS has provisions requiring supervised persons to comply with federal and state securities laws, requiring supervisory persons and representatives to report their personal securities transactions and holdings periodically, requiring supervised persons to report any violations of the code of ethics to the chief compliance officer, requiring each supervised person to receive a copy of the code of ethics and requiring supervised persons to provide a written acknowledgement of the receipt of the code of ethics. PWS provides clients and prospective clients a copy of the code of ethics upon request. B. Participation or Interest in Client Transactions Affiliate and Employee Personal Securities Transactions Disclosure PWS does not buy or sell for client accounts securities in which PWS or its representatives have a material financial interest. 22 PWS, Inc. Disclosure Brochure  C. Participation or Interest in Client Transactions PWS and its representatives can invest in the same securities in their personal accounts as those recommended to clients. Employee trading is periodically monitored under the Code of Ethics to reasonably prevent conflicts of interest between PWS and its clients. This policy is meant to prevent PWS and its representatives from benefiting as a result of transactions placed on behalf of client accounts D. Participation or Interest in Client Transactions PWS and its representatives can buy or sell for their personal accounts the same securities recommended to clients. Employee trading is periodically monitored under the Code of Ethics to reasonably prevent conflicts of interest between PWS and its clients. This policy is meant to prevent PWS and its representatives from benefiting as a result of transactions placed on behalf of client accounts. Item 12 – Brokerage Practices This section provides information about our brokerage practices in addition to the information detailed in Item 5 – Fees and Compensation. A. Selecting Brokerage Firms PWS recommends Charles Schwab (“Schwab”) as the introducing broker-dealer for client accounts. However, the client is not obligated to effect transactions through any broker-dealer recommended by PWS. PWS considers multiple factors when recommending a particular broker-dealer. Among these factors are the full range of a broker-dealer’s services, the value of the research provided, the executions capability, commission rates, responsiveness, access to certain institutional mutual funds, the ability to have advisor fees deducted from client accounts, and other factors. PWS receives research and execution related services from Schwab. The research and execution related services and products provided by Schwab include pricing information and other research products or services. These services are offered to all investment advisers who use Schwab. The commissions charged by Schwab can be higher than the commissions charged by a broker-dealer that does not provide research and 23 PWS, Inc. Disclosure Brochure  execution services. Any research or other services provided to PWS by Schwab are used to service all client accounts. In the last fiscal year PWS received access to institutional brokerage services, a broad range of investment products, pricing and other market data, deduction of fees from client accounts, account statements, conferences on practice management, and other services from Schwab. Schwab provides these services to all investment advisers who have a relationship with Schwab. By receiving these benefits without cost to PWS, there is a conflict of interest in PWS advising clients to open and maintain their investment account(s) with Schwab because PWS has an incentive to do so over other similar custodians. Despite the benefits to PWS, PWS does not believe that these benefits are so material to our business that they would influence our decision to recommend Schwab as a broker-dealer to our clients because of the fact that similar relationships are available with other qualified broker-dealers. We use such research and soft dollar benefits to help us service all client accounts, not just those that generated the benefits. We do not seek to allocate research and soft dollar benefits to client accounts in proportion to how those accounts generate soft dollars. While soft dollar and other research benefits are available to PWS, these benefits are not a factor in executing transactions. PWS believes that its recommendation of Schwab as broker-dealer is in the best interests of clients. PWS’s selection is primarily supported by the scope, quality, and price of Schwab’s services. PWS believes that the commissions and transaction costs that Schwab charges to clients for securities transactions are reasonable compared to other broker-dealers. PWS does not receive any part of the commissions or transaction costs that Schwab charges to clients. PWS does not receive client referrals for selecting a particular broker-dealer. While PWS recommends Schwab as the broker-dealer for client accounts, clients are not obligated to use Schwab as their broker-dealer. If a client directs brokerage it is possible that the client will not receive the most favorable execution of client transactions. This can cost clients more money. Also, if a client directs brokerage it is possible that the client will not be able to access certain investment products or mutual funds. It is also possible that Clients will pay higher brokerage commissions as a result of choosing their own broker-dealer. PWS is not affiliated with Schwab and does not have an economic relationship. PWS does not receive any part of the commission that Schwab charges to clients. 24 PWS, Inc. Disclosure Brochure  B. Trading Policy Our trading policy is to implement all client orders on an individual basis. PWS may combine multiple orders for shares of the same securities purchased for advisory accounts we manage (this practice is commonly referred to as “block trading”). We will then distribute a portion of the shares to participating accounts in a fair and equitable manner. The distribution of the shares purchased is typically proportionate to the size of the account, but it is not based on account performance or the amount or structure of management fees. Subject to our discretion, regarding particular circumstances and market conditions, when we combine orders, each participating account pays an average price per share for all transactions and pays a proportionate share of all transaction costs. Accounts owned by our firm or persons associated with our firm may participate in block trading with your accounts; however, they will not be given preferential treatment. Item 13 – Review of Accounts A: Periodic Reviews Account Reviews and Reviewers Setu Mazumdar (President and Investment Adviser Representative) reviews client investment accounts at least every six months. The review includes multiple items, such as the client’s current asset allocation, the target asset allocation, anticipated future cash flows in to the account, a client’s risk tolerance, and a client’s ability, willingness, and need to take risk. Setu Mazumdar (President and Investment Adviser Representative) reviews financial plans periodically. For most clients financial plans are reviewed annually. However financial plans can be reviewed more or less frequently than annually depending on specific client circumstances and client preferences. The reviews are specific to each client and can include reviewing a client’s cash flow, insurance, retirement spending, education planning, coordination with outside consultants, and other financial planning topics specific to each client. B. Review Triggers Setu Mazumdar (President and Investment Adviser Representative) can review a client’s account other than on a periodic basis. Factors that can trigger a review include a change in a client’s job, a change in a client’s income, a change in a client’s risk tolerance, and other factors. 25 PWS, Inc. Disclosure Brochure  C. Statements and Reports The custodian provides statements to clients at least every quarter. PWS does not provide written reports to clients. Item 14 – Client Referrals and Other Compensation A. Economic Benefits Provided by Third Parties for Advice Rendered to Clients PWS does not receive any economic benefit, sales awards, or other prizes to provide investment advice to clients. B. Compensation to Non-Advisory Personnel for Client Referrals PWS does not compensate anyone for client referrals. Item 15 – Custody Custody, as it applies to investment advisors, has been defined by regulators as having access or control over client funds and/or securities. In other words, custody is not limited to physically holding client funds and securities. If an investment adviser has the ability to access or control client funds or securities, the investment adviser is deemed to have custody and must ensure proper procedures are implemented. For accounts in which PWS is deemed to have custody, PWS has established procedures to ensure all client funds and securities are held at a qualified custodian in a separate account for each client under that client’s name. Clients or an independent representative of the client will direct, in writing, the establishment of all accounts and therefore are aware of the qualified custodian’s name, address and the manner in which the funds or securities are maintained. Finally, account statements are delivered directly from the qualified custodian to each client, or the client’s independent representative, at least quarterly. Clients should carefully review those statements and are urged to compare the statements against reports received from PWS. When clients have questions about their account statements, they should contact PWS or the qualified custodian preparing the statement. In Addition, PWS is deemed to have custody of client funds and securities when PWS has standing authority (also known as a standing letter of authorization or “SLOA”) to move money from a client’s account to a third-party account. 26 PWS, Inc. Disclosure Brochure  In accordance with guidance provided by the SEC in a February 2017 no-action letter (“Letter”) with respect to Rule 206(4)-2 (“Custody Rule”) under the Investment Advisers Act of 1940 (“Advisers Act”) PWS has adopted the following safeguards in conjunction with our custodian: • The client provides instructions to the qualified custodian, in writing, that includes the client’s signature, the first/third party’s name, and either the first/third party’s address or the first/third party’s account number at a custodian to which the transfer should be. • The client authorizes the investment adviser, in writing, either on the qualified custodian’s form or separately, to direct transfers to the first/third party either on a specified schedule or from time to time. • The client’s qualified custodian performs appropriate verification of the instruction, such as a signature review or other method to verify the client’s authorization and provides a transfer of funds notice to the client promptly after each transfer. • The client can terminate or change the instruction to the client’s qualified custodian. • The investment adviser has no authority or ability to designate or change the identity of the first/ third party, the address, or any other information about the first/third party contained in the client’s instruction. • The investment adviser maintains records showing that the first/third party is not a related party of the investment adviser or located at the same address as the investment adviser. • The client’s qualified custodian sends the client, in writing, an initial notice confirming the instruction and an annual notice reconfirming the instructions. Item 16 – Investment Discretion PWS accepts discretionary authority to manage securities accounts on behalf of clients. PWS determines the specific securities to be purchased or sold as well as the amount of securities to be bought or sold. However, PWS discusses in advance with each client the parameters within which PWS manages each client’s portfolio, including the target asset allocation, how often and when to rebalance, and other factors. Clients can place limitations on this authority. For example, a client may request that certain securities never be purchased, and PWS will honor those limitations. PWS requires every client to sign a discretionary client agreement and limited power of attorney before assuming this authority. However, PWS does not take custody of client assets. In some instances, PWS can accept nondiscretionary authority to manage client accounts. 27 PWS, Inc. Disclosure Brochure  Item 17 – Voting Client Securities PWS does not vote proxies for client securities. The custodian will send proxies to each client directly. Clients can contact PWS via email or phone directly with questions regarding proxies or can contact the custodian via phone. Item 18 – Financial Information A. Balance Sheet This item is not applicable to this brochure. PWS does not require or solicit prepayment of more than $1200 in fees per client, six months or more in advance. Therefore, PWS is not required to include a balance sheet for its most recent fiscal year. B. Financial Conditions PWS is not subject to a financial condition that is reasonably likely to impair its ability to meet contractual commitments to clients. C. Bankruptcy Petition PWS has not been the subject of a bankruptcy petition at any time. 28 PWS, Inc. Disclosure Brochure  Form ADV Part 2B Brochure Supplement Setu Mazumdar, MD, CFP®, RICP®, AIF® Physician Wealth Solutions, Inc. 3844 Andorian Avenue North Las Vegas, NV 89084 404-386-7641 Date of Supplement: September 15, 2025 This brochure supplement provides information about Setu Mazumdar that supplements the Physician Wealth Solutions, Inc. (“PWS”) brochure. You should have received a copy of that brochure. Please contact Setu Mazumdar at 404-386- 7641 or via email at setu@financialplannerfordoctors.com if you did not receive the PWS brochure or if you have any questions about the contents of this supplement. Additional information about Setu Mazumdar is available on the SEC’s website at www.adviserinfo.sec.gov. Item 2 – Educational Background and Business Experience Setu Mazumdar, MD, CFP®, RICP®, AIF® Born 1974 Educational Background: ● BA in Biology, Johns Hopkins University: 1994 ● MD, Johns Hopkins School of Medicine: 1998 ● Residency, Emergency Medicine, Medical College of Pennsylvania: 2001 ● CERTIFIED FINANCIAL PLANNER™ Professional ● Retirement Income Certified Professional® The CERTIFIED FINANCIAL PLANNER™ (CFP®) designation is issued by the CERTIFIED FINANCIAL PLANNER Board of Standards, Inc. It is a voluntary certification recognized by the United States and other countries for its (1) high standard of professional education, (2) stringent code of conduct and standards of practice and (3) ethical requirements governing professional engagements with clients. A candidate for designation must first obtain a Bachelor’s Degree from an accredited college or university with courses that included financial planning subject areas (e.g. insurance planning, risk management, employee benefits planning, investment planning, income tax planning, retirement planning and estate planning). Candidates must also have at least 3 years of full-time personal financial planning experience, measured as 2,000 hours per year. CFP® candidates must pass a comprehensive examination designed to 29 PWS, Inc. Disclosure Brochure  test their ability to correctly diagnose financial planning issues and apply their knowledge to real world circumstances. Candidates must also agree to be bound by the CERTIFIED FINANCIAL PLANNER Board’s Standards of Professional Conduct. Anyone earning designation as a CFP® must complete 30 hours of continuing education every two years and renew the agreement to be bound by the Standards of Professional Conduct. The Retirement Income Certified Professional® (RICP®) designation is issued by The American College of Financial Services, the nation’s largest non-profit educational institution devoted to financial services. Holding the highest level of academic accreditation, The College has served as a valued business partner to banks, brokerage firms, insurance companies and others for over 86 years. Candidates for the RICP® designation must complete a minimum of three college-level courses and are required to pass a series of two-hour proctored exams. They must also have three years of experience, meet ethics requirements, and participate in The College’s continuing education program. The RICP® educational curricula is a comprehensive program available to professional financial advisors looking to help their clients create sustainable retirement income. The three-course credential helps advisors learn retirement income planning, a key focus area not fully covered in other professional designation programs. Topics include retirement portfolio management techniques and mitigation of plan risks to the proper use of annuities, employer-sponsored benefits and determining the best Social Security claiming age. Using the most current techniques, RICP®s identify retirement income needs and objectives and evaluate a client’s current situation relative to those goals. Individuals who earn a RICP® can provide advice on a broad range of retirement topics including income needs and objectives, estate issues and other risks to retirement income planning, Social Security, health insurance and housing decisions, and income taxation. The Accredited Investment Fiduciary® (AIF®) designation is issued by the Center for Fiduciary Studies®, the standards-setting body for Fi360. The AIF designation signifies specialized knowledge of fiduciary responsibility and the ability to implement policies and procedures that meet a defined standard of care. The designation is the culmination of a training program, which includes a comprehensive, closed-book final examination under the supervision of a proctor, and agreement to abide by the Center’s Code of Ethics and Conduct Standards. On an ongoing basis, completion of continuing education and adherence to the Code of Ethics and Conduct Standards are required to maintain the AIF designation. Business Experience: ● Physician Wealth Solutions, Inc., President, September 2013 to Present ● Lotus Wealth Solutions, Inc., President, August 2009 to September 2013 30 PWS, Inc. Disclosure Brochure  ● East Cobb Urgent Care, Emergency Medicine Physician, November 2009 to September 2013 ● Physicians Immediate Med, Emergency Medicine Physician, February 2009 to November 2009 ● Wellstar Health Systems, Emergency Medicine Physician, July 2001 to February 2009 Item 3 – Disciplinary Information Setu Mazumdar has no legal or disciplinary events to report. Item 4 – Other Business Activities Setu Mazumdar is not actively engaged in any other business activities. Item 5 – Additional Compensation Setu Mazumdar does not receive any economic benefit, sales awards, or other prizes to provide investment advice to clients other than described in this brochure. Item 6 – Supervision Setu Mazumdar is the Chief Compliance Officer of PWS. He is responsible for developing, overseeing and enforcing the firm’s compliance programs that have been established to monitor and supervise the activities and services provided by the firm and its representatives, including Setu Mazumdar. Setu Mazumdar can be contacted at 404-386- 7641. PWS maintains written supervisory procedures to ensure that PWS is in compliance with securities regulations. These procedures are reviewed at least annually by Setu Mazumdar. 31 PWS, Inc. Disclosure Brochure