Nollenberger McCullough Investment Advisors LLC

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

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

$81,397,704 as of October 2026, filing dated September 21, 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
• Other

Registration

State-registered investment adviser. Status as filed: APPROVED.

Registered since

2026 (0 years)

Employees

Total: 4. Performing investment advisory functions: 2.

Wrap fee program participation

No.

Other offices (Schedule D, Section 1.F)

1 other office, as of the April 2026 filing

Sausalito, CA

States registered or notice-filed

1 state or jurisdiction

CA

State-registered investment advisers are examined by their state securities regulator. SEC, state, and exempt registration

None Reports no disclosure items on Form ADV Item 11. View on IAPD.

Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures

Regulatory assets under management: $122,271,904 in the October 2021 data and $81,397,704 in the October 2026 data, down 33%.

Total employees: 5 in October 2021 and 4 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. February 2026
   • Added an office in Sausalito, CA.
   • No longer lists an office in Newport Beach, CA.

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