Lincoln Investment

• A percentage of assets under your management
• Hourly charges
• Fixed fees (other than subscription fees)
• Commissions

Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ

The brochure lists different fees for different services or strategies. See the firm's brochure (dated July 20, 2026) for its fees and any account minimum, on the SEC's IAPD site.

$21,994,851,422 as of October 2026, filing dated July 20, 2026.

A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means

A firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.

• Financial planning services
• Portfolio management for individuals and/or small businesses
• Portfolio management for businesses (other than small businesses) or institutional clients
• Selection of other advisers (including private fund managers)

Legal name

Lincoln Investment Planning, LLC

Also doing business as

CMW, CREATING AND MANAGING WEALTH, FINANCIAL DIRECTORS, GABOR FINANCIAL SOLUTIONS, SHELGREN FINANCIAL GROUP, THE GABOR AGENCY, THE LEGEND GROUP, THE LINCOLN INVESTMENT COMPANIES, THE VOYAGER GROUP

Registration

SEC-registered investment adviser. Status as filed: Approved.

Registered since

1978 (48 years)

Employees

Total: 1,238. Performing investment advisory functions: 874.

Wrap fee program participation

Yes.

Custodians (Schedule D, Section 5.K(3))

Pershing LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

Other offices (Schedule D, Section 1.F)

25 other offices, as of the August 2026 filing

Albemarle, NCAmherst, NYAtlanta, GABethlehem, PABraintree, MACarmel, INCleveland, OHFarmington Hills, MIHorsham, PAIndependence, OHJacksonville, FLJoliet, ILLand O Lakes, FLLombard, ILLutz, FLMarlton, NJPhoenix, AZRenton, WARochester, NYRoyal Oak, MIShaker Heights, OHSyracuse, NYTallahassee, FLWoodland Hills, CAWorcester, MA

States registered or notice-filed

50 states or jurisdictions

AKALARCACOCTDCDEFLGAHIIAIDILINKSKYLAMDMEMIMNMOMSMTNCNDNENHNJNMNVNYOHOKORPAPRRISCSDTNTXUTVAVTWAWIWVWY

SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration

7 Reports 7 disclosure items on Form ADV Item 11. View on IAPD.

Questions answered yes on this filing

Criminal matters Items 11.A and 11.B

• 11.A(2) In the past ten years, has the firm or an advisory affiliate been charged with a felony?

Regulatory matters Items 11.C to 11.G

• 11.C(1) Has the SEC or the CFTC ever found that the firm or an advisory affiliate made a false statement or omission?
• 11.C(2) Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
• 11.C(4) Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
• 11.C(5) Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?
• 11.D(2) Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
• 11.E(2) Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. What happened, and who was involved, is on the Disclosure Reporting Pages of the IAPD record. Reading a firm's disclosures

Regulatory assets under management: $15,286,555,211 in the October 2021 data and $21,994,851,422 in the October 2026 data, up 44%.

Total employees: 1,317 in October 2021 and 1,238 in October 2026.

As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.

1. May 2026
   • Registered or notice-filed in WY.
2. April 2026
   • Added the business name The Lincoln Investment Companies.
   • Added the business name Creating and Managing Wealth.
   • Added the business name The Voyager Group.
   • Added the business name CMW.
   • Employees performing advisory functions went from 894 to 874.
   • Regulatory assets under management went from $18,904,482,714 to $21,994,851,422 (+16%).
   • Added an office in Atlanta, GA.
   • Added an office in Jacksonville, FL.
   • Added an office in Joliet, IL.
   • Added an office in Worcester, MA.
   • No longer lists an office in Bohemia, NY.
   • No longer lists an office in Cranford, NJ.
   • No longer lists an office in Waltham, MA.
   • No longer lists an office in Wexford, PA.

Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.