Form CRS – Client Relationship Summary

Introduction

COLUMBIA PRIVATE MARKETS, LLC is broker-dealer registered with the Securities and Exchange Commission and FINRA. Brokerage and investment advisory services and fees differ, and it is important to understand the differences. This document gives you a summary of the types of services and fees we offer. Please visit www.investor.gov/CRS for free, simple tools to research firms and for educational materials about broker-dealers, investment advisers, and investing.

Relationships and Services

Questions to ask us: Given my financial situation, should I choose a brokerage service? Why or why not? How will you choose investments to recommend to me? What is your relevant experience, including your licenses, education and other qualifications? What do these qualifications mean?

What investment services and advice can you provide me? We provide a limited set of services related to mutual fund and private placement investments only. Such services are limited to making recommendations regarding and serving as selling and/or placement agent for mutual fund and private placement products and transactions. We do not maintain accounts for our customers or handle client funds for purposes of facilitating client transactions in the mutual funds and private placements we offer. Instead, customers are required to place their purchases of mutual fund shares directly with the mutual fund company, and similarly, for private placement transactions, customers are required to work directly with the private fund's custodian to establish an account and remit their funds directly to such custodian. We may provide assistance and guidance to our customers as part of these processes. information regarding your investments.

Our financial advisors also do not monitor any of your investments after you effect a securities transaction, including those investments they recommend for you. Our financial advisors also do not make investment decisions for you or manage any of your investments, meaning we cannot buy or sell investments on your behalf. Because our financial advisors do not have discretionary investment authority, this means that we cannot buy or sell investments in your brokerage account without first obtaining your consent. Please also see our Regulation Best Interest Disclosure for additional information.

Fees, Costs, Conflicts, and Standard of Conduct

Questions to ask us: Help me understand how these fees and costs might affect my investments. If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me? How might your conflicts of interest affect me, and how will you address them?

What fees will I pay, and how do your financial professionals make money?

We are paid each time you make a new investment in a mutual fund or private placement we offer and recommend. This payment is typically called a "commission," but it may also be called a "sales charge" or "placement fee." This kind of payment presents a conflict for us because it creates an incentive to encourage you to trade more and make additional investments. The commission rate or amount varies depending on the investment and the size or amount of the transaction.

In addition, mutual funds and private placements bear ongoing fees and expenses that are embedded into the cost of the investment holding. You pay these ongoing fees and expenses indirectly because they are factored into the cost of the investment and are subtracted from the performance return. More information about ongoing fees and expenses associated with mutual funds and private placements is contained within each product's offering documents, which you should carefully review prior to making any investment decision based on a recommendation of our financial advisors. You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying.

Please also see our Regulation Best Interest Disclosure for additional information.

What are your legal obligations to me when providing recommendations? How else does your firm make money and what conflicts of interest do you have?

When we provide you with a recommendation, 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. You should understand and ask us about these conflicts because they can affect the recommendations we provide you. Here are some examples to help you understand what this means:

• We and our financial advisors get paid when you enter an order or invest based on our recommendations. We are paid each time you buy a mutual fund or private placement through us. We pay our financial advisors a portion of the transaction-based payments that we receive. These transaction-based payments are referred to as commissions, sales charges, or placement fees. They incentivize us and your financial advisor to encourage you to conduct more mutual fund and private placement purchases.
• For any given client investment need and risk tolerance, ranging from conservative income to aggressive growth, we typically offer multiple investment types that are suitable choices. The different investment types have varying features, and the associated investment costs you pay for purchasing and holding each investment type differ as well. This incentivizes us and your financial advisor to recommend costlier investments to you to maximize the revenue we receive.

Please also see our Regulation Best Interest Disclosure for additional information.

Disciplinary History

Questions to ask us: As a financial professional, do you have any disciplinary history? For what type of conduct?

Do you or your financial professionals have legal or disciplinary history? Columbia Private Markets, LLC does not have legal and disciplinary history, but some of our Investment Advisor Representatives have legal or disciplinary history from previous employment. Visit https://www.investor.gov/ for a free, simple search tool to research us and our financial professionals.

Additional Information

Questions to ask us: Who is my primary contact person? Is he or she a representative of an investment adviser or a broker-dealer? Who can I talk to if I have concerns about how this person is treating me?

For additional information on our advisory services, see our Regulation Best Interest Disclosure available at www.cpmwealth.com/disclosures/regbi.pdf and any individual brochure supplement your representative provides. If you have any questions, need additional up-to-date information, or want another copy of this Client Relationship Summary, then please contact us at (509) 210-8305.