Form ADV Part 2B Brochure Supplement





Item 1 - Cover Page
Philip Lockwood
3100 Ingersoll Avenue Des Moines, IA 50312 • (515) 274-8006





Investment Advisor Representative of:
SPC
300 Parkland Plaza, Ann Arbor, MI 48103
(888) 744-6264
Last Updated: 4/27/2016




This Brochure Supplement provides information about Philip Lockwood that accompanies the information found in the SPC Brochure or your Third Party Investment Advisor's Brochure. Please contact the SPC Compliance Department at (734) 663-1611 if you did not receive the SPC Brochure or if you have any questions about the contents of this supplement.

Additional Information about Philip Lockwood is available on the SEC's website at http://www.adviserinfo.sec.gov

Item 2 - Educational Background and Business Experience

SPC is required to disclose certain information regarding the educational history and business experience for an associated investment advisor representative that provides you with investment advice.

Philip Lockwood (Born 1982) earned a Bachelor's degree in Finance from University of Iowa of Iowa City, IA in 2005. Philip has been an independent contractor with SPC as an Investment Advisor Representative since 6/1/2012. Philip's duties include:
  • Acting as a portfolio manager, which includes directing the investment and re-investment of assets in client accounts on a discretionary or non-discretionary basis. Philip customizes investment portfolios for clients based on risk tolerance and investing objectives, monitors the portfolio's performance on an on-going basis, and re-balances the portfolio as needed due to changes in market conditions and financial circumstances.
  • Providing financial planning or consulting services on an hourly, fixed fee, project, or ongoing basis. Philip may provide advice on general issues relating to such topics as financial management, risk management, asset allocation, investment research, estate planning, tax issues, retirement planning, educational funding, goal setting, or other needs. Philip also prepares or updates written segmented or comprehensive financial plans.
  • Utilizing third party investment advisers (TPIAs) to manage a client's investment portfolio. After gathering information about each client's financial situation and objectives, Philip may recommend a specific TPIA or investment program based upon their performance, methods of analysis, fees, or the client's financial needs, investment goals, risk tolerance, and/or investment objectives. Philip periodically monitors the TPIA's performance to ensure its management and investment styles remain aligned with the client's investment objectives and goals.
Philip has also been employed with Parkland Securities, LLC (f/k/a Sammons Securities Company, LLC) as a Registered Representative since 3/20/2009. Philip's duties include:
  • Offering investment products through Parkland Securities, LLC as part of your investment portfolio.
Philip has also been employed with Ode Marketing Group as an Insurance agent since 1/1/2005. Philip's duties include:
  • Insurance business.
Philip holds the Series 7/ 63 license(s). In addition, Philip has the AIF designation(s):


AIF®
The Accredited Investment Fiduciary® (AIF®) designation is granted by the Center for Fiduciary Studies, a Fiduciary360 (fi360) company. To obtain the AIF® designation, candidates must study fi360’s Prudent Practices and their legal basis, demonstrate the ability to apply the Prudent Practices in their own investment practices, and pass a proctored exam. An AIF® designee is able to define and encourage fiduciary standards, identify legal standards that require fiduciaries to prudently manage investment decisions, and apply the Practices that define a prudent investment process. After obtaining the designation, designees must complete 6 hours of continuing education hours annually and agree to comply with a Code of Ethics.


Item 3 - Disciplinary Information

SPC is required to disclose all material information regarding any disciplinary events involving an associated investment advisor representative that provides you with investment advice. Philip Lockwood does not have any disciplinary events that are applicable to this Item.


Item 4 - Other Business Activities

SPC is required to disclose all material information regarding any investment-related business activities Philip Lockwood is involved in outside of their involvement with SPC. Philip Lockwood is a registered representative of Parkland Securities, LLC. In this capacity, Philip may recommend securities products offered by Parkland Securities, LLC as part of your investment portfolio, and will receive commissions and/or distribution or 'trail' fees based on the sale of these products. Our representatives strive to recommend products that best suit the needs of their clients, however, we are required to disclose that the receipt of commissions and/or trail fees creates a conflict of interest between our interests and that of our clients as it offers an incentive to recommend products based on compensation. Clients are under no obligation, contractually or otherwise, to purchase securities products through any person affiliated with Parkland Securities, LLC or SPC. The fees you pay SPC for advisory services are separate and distinct from the commissions earned by Philip for securities related activities. Please refer to the Fees and Compensation section of the SPC Brochure for additional disclosures on this topic.

Philip Lockwood is separately licensed as an independent insurance agent. In this capacity, Philip can effect transactions in insurance products for clients and earn commissions for these activities. Our representatives strive to recommend products that best suit the needs of their clients, however, we are required to disclose that the receipt of commissions creates a conflict of interest between our interests and that of our clients as it offers an incentive to recommend products based on compensation. Clients are under no obligation, contractually or otherwise, to purchase insurance products through any person affiliated with SPC. The fees you pay SPC for advisory services are separate and distinct from the commissions earned by Philip for insurance related activities.

SPC is also required to disclose all material information regarding any other business activities Philip Lockwood is compensated for that provides a substantial source of Philip’s income or involves a substantial portion of Philip’s time. Philip is currently not involved in any other business activities that meet these criteria.


Item 5 - Additional Compensation

SPC is required to disclose all material information regarding any economic benefits (e.g. sales awards, prizes, or any bonus that is based on the number or amount of sales, client referrals, or new accounts) an investment advisor representative of SPC receives from someone who is not a client. Philip Lockwood does not receive any economic benefits that are applicable to this Item.


Item 6 - Supervision

Philip Lockwood is supervised by SPC. The advice Philip provides to clients is reviewed and evaluated based on information the client provides on disclosure documents relating to the investment advice. Such documents include, but are not limited to, Client or Entity Data Sheets, Client Service Agreements, Investment Profiles, and Product Disclosure Forms. A Compliance Officer of SPC reviews each sale of a securities or investment product prior to or upon the establishment of the account. Established accounts are reviewed at random intervals. Financial or hourly planning involving two or more hours of work by Philip is reviewed by a Compliance Officer upon completion of the plan. John McClellan, Chief Compliance Officer, or any Compliance Officer of SPC that he designates, are responsible for supervising Philip’s advisory activities on behalf of SPC. SPC’s Compliance Officers can be reached at 888-744-6264.