The Firm
The firm became an independent SEC registered investment adviser in 2017 in order to directly offer
asset management and financial planning services. LPL Financial serves as the qualified custodian.
Investment Adviser Representatives of the firm are also registered representatives of LPL Financial , a
FINRA/SIPC member broker/dealer, to offer brokerage services under the Doing Business Name of
Cross Financial Management and Cross Inland Wealth Management, Rock Creek Wealth Management,
Clark Wealth Management, Retzlaff Wealth Management, Lyda Financial, Hope Wealth Planning and
Grace Investors founded in 2003. Cross Financial Management and Cross Financial Advisors are
separate, independent entities that are legally unaffiliated with LPL Financial.
Principal Owners
Mathew Whiteaker
Mathew is an owner and founding partner of Cross Financial. He has been a financial consultant
helping individuals, families, and businesses pursue their financial planning goals since 1999.
Attention to detail, integrity, good listening skills and great empathy create the foundation of his
business relationships. He is effectively supported by a team of administrative and investment product
specialists whose teamwork and professionalism help him build long-term relationships with his
growing client base and provide excellent customer service.
He focuses on providing advice on Investment Planning; Insurance Planning; Tax Planning; Retirement
Planning; Estate Planning; Intergenerational Wealth Transfer Planning; and Educational Savings
Planning. Working with a network of highly skilled professionals, he is dedicated to providing high-
quality advice and integrated wealth management strategies that work towards simplifying and
enhancing the quality of his clients’ lives.
He is proud to represent Dave Ramsey as a SmartVestor Pro in the Portland area. Philosophically it
was a great fit; Mathew and his family have always lived in agreement to Dave’s philosophies of
reducing debt and diligently saving. He also enjoys teaching and coaching clients to help them pursue
their goals.
Mathew is happily married to his lovely wife Shari, a pediatric nurse at Randall Children’s Hospital.
He keeps busy with his three children, Kaitlyn, Emily, and Michael. Away from business, he enjoys
racquetball, hiking, reading and spending time with family and friends.
Jay Torgerson, CFP
®
An Oregon native, Jay is married with three kids and lives in the Beaverton area. Jay graduated from
Pacific Lutheran University and joined Edward Jones as a financial advisor out of college. After
working several years building a successful practice Jay founded Cross Financial Management with his
partner Mathew Whiteaker in 2003. Jay achieved his CFP® certification in 2005 and holds his Series 7,
24, 53, 63, and 66 registrations with LPL Financial. His practice focuses on providing high quality
service for his wide variety of clients throughout the US.
Giving back to the community is something very important to Cross Financial. We sponsor many
different charitable events from the Glendi Fair to the Children’s Cancer Foundation. Jay is an active
community service member serving as the Vice Chairman for Quiet Waters Outreach. Quiet Waters
Outreach (QWO) is a non-profit organization dedicated to serving individuals with a wide variety of
developmental disabilities such as Down Syndrome, Cerebral Palsy, and Autism and provides respite
care for DD from different ethnic backgrounds, religions, financial statuses, ages, and living situations.
Asset Management
Investment advisor representatives of Cross Financial Advisors primarily provide non-discretionary fee
based asset management services to individual clients and high-net worth individuals as well as small
businesses. More specifically, they provide advice on the purchase and sale of various types of
investments, such as mutual funds, exchange-traded funds (“ETFs”), variable annuity subaccounts, real
estate investment trusts (“REITs”), equities, and fixed income securities. Discretionary fee based asset
management services are also available. The advice is tailored to the individual needs of each client
based on their investment objective in order to help assist them to meet their financial goals. Accounts
are reviewed on a regular basis and rebalanced as necessary according to each client’s investment
profile.
• Wrap Fee Program
Cross Financial Advisors acts as portfolio manager of a wrap fee program, which is an investment
program where the client pays one stated fee that includes management fees, transaction costs, and
certain other administrative fees. However, this brochure describes Cross Financial Advisors’ non-wrap
fee advisory services; clients utilizing Cross Financial Advisors’ wrap fee portfolio management should
see the separate Wrap Fee Program Brochure. Cross Financial Advisors manages the investments in the
wrap fee program, but does not manage those wrap fee accounts any differently than it would manage
non-wrap fee accounts. Cross Financial Advisors receives the advisory fee set forth in Item 5 below as a
management fee under the wrap fee program. Please also see Item 5 and Item 12 of this brochure.
• Strategic Wealth Management (SWM I and SWM II)
Strategic Wealth Management is the name of the custodial account offered through LPL to support
investment advisory services provided by Cross Financial Advisors. Investment Advisors
Representatives can offer SWM I or SWM II. The accounts offer the same investment choices and are
managed in the same manner but the fee structure is different.
o For SWM I, clients are charged transaction fees in addition to the advisory fee whereas for
SWM II, the transactions fees are absorbed as part of the advisory fee.
o The advisory fee for SWM II accounts may be higher than SWM I to account for the
transaction fees.
Depending on the anticipated level of trading and account size, investment advisor representatives of
Cross Financial Advisors will work with each client to determine the most cost effective fee structure.
More specific account information and acknowledgements are further detailed in the account opening
documents.
There is generally no minimum account value required to open a SWM I or II account.
• Optimum Market Portfolios Program (OMP)
The Optimum Market Portfolios (OMP) program offers clients the ability to participate in a
professionally managed asset allocation program designed by LPL. There are up to six Optimum
Funds that may be purchased within an OMP account.
o Optimum Large Cap Growth Fund
o Optimum Large Cap Value Fund
o Optimum Small Cap Growth Fund
o Optimum Small Cap Value Fund
o Optimum International Fund
o Optimum Fixed Income Fund
Cross Financial Advisors will obtain the necessary financial data from each client and then select the
proper fund portfolio program. While Cross Financial Advisors selects the proper portfolio program,
LPL will manage the underlying Optimum Funds on a discretionary basis consistent with the portfolio
program objectives. LPL does not directly manage fund assets on behalf of any particular client. OMP
enables advisors of Cross Financial Advisors to manage client assets through diversified asset
allocation models, professional money management and automatic rebalancing.
A minimum account value of $15,000 is required for OMP.
• Personal Wealth Portfolios Program (PWP)
Personal Wealth Portfolios offers clients an asset management account using third party adviser
portfolio allocation models designed by LPL Financial. The PWP program is a unified managed
account program in which LPL and Advisor provide ongoing investment advice and management. In
PWP, clients invest in asset allocation portfolios (“Portfolios”) designed by LPL’s Research
Department, which include a combination of mutual funds, exchange-traded funds (“ETFs”) and
investment models (“Models”) provided to LPL by third party money managers ("PWP Advisors").
The Models typically consist of equity and fixed income securities, but may include investment
company securities. LPL’s Research Department selects the mutual funds, ETFs and Models to be
made available in a Portfolio.
The Advisor obtains the necessary financial data from the client, assists the client in determining the
suitability of the program and assists the client in setting an appropriate investment objective. The
Advisor, or client with the assistance of the Advisor, selects a Portfolio based on client’s investment
objective and then selects among the mutual funds, ETFs and/or Models available in the Portfolio.
Neither LPL nor a third-party money manager directly provides advisory services to the clients of
Cross Financial Advisors. The third-party money managers selected by LPL for a particular program
manage the portfolio without regard for any particular client of Cross Financial Advisors. Cross
Financial Advisors is solely responsible for the advisory services provided and selecting the proper
portfolio of third party money managers. Cross Financial Advisors is not acting as a cash solicitor for
LPL or other third party.
A minimum account value of $250,000 is required for PWP.
• Model Wealth Portfolios (MWP)
Model Wealth Portfolios Program offers clients a professionally managed mutual fund asset allocation
program. Cross Financial Advisors will obtain the necessary financial data from the client, assist the
client in determining the suitability of the MWP program and assist the client in setting an appropriate
investment objective. The Advisor will initiate the steps necessary to open an MWP account and have
discretion to select a model portfolio designed by LPL’s Research Department consistent with the
client’s stated investment objective. LPL’s Research Department is responsible
for selecting the
mutual funds within a model portfolio and for making changes to the mutual funds selected. The client
will authorize LPL to act on a discretionary basis to purchase and sell mutual funds including in certain
circumstances exchange traded funds and to liquidate previously purchased securities. The client will
also authorize LPL to effect rebalancing for MWP accounts. In the future, the MWP program may
make available model portfolios designed by strategists other than LPL’s Research Department. If
such models are made available, Advisor will have discretion to choose among the available models
designed by LPL Financial LLC or outside strategists.
A minimum account value of $100,000 is required for MWP.
Guided Wealth Portfolios (GWP)
GWP offers clients the ability to participate in a centrally managed, algorithm -based investment
program, which is made available to users and clients through a web-based, interactive account
management portal (“Investor Portal”). Investment recommendations to buy and sell exchange-traded
funds and open-end mutual funds are generated through proprietary, automated, computer algorithms
(collectively, the “Algorithm”) of FutureAdvisor, Inc. (“FutureAdvisor”), based upon model portfolios
constructed by LPL and selected for the account as described below (such model portfolio selected for
the account, the “Model Portfolio”). Communications concerning GWP are intended to occur primarily
through electronic means (including but not limited to, through email communi cations or through the
Investor Portal), although Cross Financial Advisors, LLC will be available to discuss investment
strategies, objectives or the account in general in person or via telephone.
A preview of the Program (the “Educational Tool”) is provided for a period of up to forty-five (45)
days to help users determine whether they would like to become advisory clients and receive ongoing
financial advice from LPL, FutureAdvisor and Cross Financial Advisors, LLC by enrolling in the
advisory service (the “Managed Service”). The Educational Tool and Managed Service are described in
more detail in the GWP Program Brochure. Users of the Educational Tool are not considered to be
advisory clients of LPL, FutureAdvisor or Cross Financial Advisors, LLC, do not enter into an
advisory agreement with LPL, FutureAdvisor or Cross Financial Advisors, LLC, do not receive
ongoing investment advice or supervisions of their assets, and do not receive any trading services.
A minimum account value of $5,000 is required to enroll in the Managed Service.
• Manager Access Select Program (MAS)
Manager Access Select provides clients access to professional portfolio management. Advisor will
assist client in identifying a third-party portfolio manager (Portfolio Manager) from a list of portfolio
managers made available by LPL. The portfolio manager manages client’s assets on a discretionary
basis. Advisor will provide initial and ongoing assistance regarding the portfolio manager selection
process.
A minimum account value of $100,000 is required for Manager Access Select, however, in certain
instances, the minimum account size may be lower or higher.
• Manager Access Network Program (MAN)
Manager Access Network enables high-net-worth investors to access a variety of institutional portfolio
managers with significantly lower account minimums. By using separate account managers, clients
can enjoy a higher level of specialization and service through the ownership of individual securities. A
broad range of portfolio managers and multiple investment styles are available, i ncluding equity, fixed
income, asset classes, mutual funds, ETFs, and specialty strategies. Clients contract directly with the
portfolio managers for discretionary asset management services. LPL Financial provides brokerage,
custodial, and administrative services to clients. Due diligence and portfolio monitoring is not provided
by LPL Research.
Minimum account balances vary by portfolio manager, but typically start at $100,000 for equity
strategies and $250,000 for fixed income strategies.
Financial Planning Services
Cross Financial Advisors through its investment advisor representatives generally provides financial
planning as part of a comprehensive asset management engagement. However, financial planning is
available separately for a separate fee. The type of plan can vary greatly depending on the scope and
complexity of a particular individual’s financial situation but may include:
Planning Strategies for Families and Individuals
• Retirement – planning an investment strategy with the objective of providing inflation-adjusted
income for life.
• College / Education – planning to pay the future college / education expenses of a child or
grandchild.
• Insurance Needs – planning for the financial needs of survivors to satisfy such financial obligations
as housing, dependent child care and spousal arrangements as well as education.
• Estate Planning – planning that focuses on the most efficient and tax friendly option to pass on an
estate to a spouse, other family members or a charity.
• Cash Flow/ Budget Planning – planning to manage expenses against current and projected income.
• Wealth Accumulation – planning to build wealth within a portfolio that takes into consideration
risk tolerance and time horizon.
• Tax Planning – planning a tax efficient investment portfolio to maximize deductions and off-setting
losses.
• Investment Planning – planning an investment strategy consistent with a particular objectives, time
horizons and risk tolerances.
• Inheritance Planning – planning for a tax efficient method to pass wealth to the next generation.
Planning Strategies for Businesses
• Business Entity Planning – review the various forms of business structures in relation to liability
and income tax considerations.
• Qualified Retirement Plans – evaluate the types of retirement plans established by an employer for
the benefit of the company’s employees.
• Stock Option Planning – planning to maximize the value of employer issued stock options and
optimize what to exercise and what to hold.
• Key Person Planning – evaluate the life insurance needs required in the event of the sudden loss of
a key executive in order to buy time to find a new person or to implement other strategies to continue
the business.
• Executive Benefits – planning to attract, reward and retain top executive talent.
• Deferred Compensation Plans – planning for the use of tax deferred funds to be withdrawn and
taxed at some point in the future.
• Business Succession Planning – planning for the continuation of a business
after key executives
move on to new opportunities, retire or pass away with the use of buy-sell agreements, key-man
insurance and engaging independent legal counsel as needed.
Hourly Consulting Services
Cross Financial Advisors offers consulting services on an hourly basis. Hourly consulting and
financial planning offer similar services but differ in depth and scope. Financial planning is generally
more comprehensive and takes into account a client’s entire financial situation whereas hourly
consulting tends to be more focused on a particular financial objective or need. The hourly consulting
engagement terminates upon final consultation with the client.
Conflicts of Interest
Investment adviser representatives must fully disclose all material facts concerning any conflict,
and should avoid even the appearance of a conflict of interest and abide by honest and ethical
business practices.
• The recommendation that a client purchase a commission product from an investment advisor
representative in their separate capacity as a registered representative of LPL or as an agent of
an insurance company presents a conflict of interest, as the receipt of commissions provides an
incentive that may not be in a client’s best interests.
• Investment advisor representatives must not induce trading in a client's account that is
excessive in size or frequency in view of the financial resources and character of the account.
• Investment advisor representatives must make recommendations with reasonable grounds to
believe that they are appropriate based on the information furnished by the client.
• Investment advisor representatives may not borrow money or securities from, or lend money or
securities to a client.
• Investment advisor representatives must not place an order for the purchase or sale of a
security if the security is not registered, or the security or transaction is not exempt from
registration in the specific state.
• Product sponsors may pay for, or reimburse Cross Financial Advisors for the costs
associated with, education or training events.
• The code of ethics permits employees and investment advisor representatives or related
persons to invest for their own personal accounts in the same or different securities that an
investment advisor representative may purchase for clients in program accounts.
Such conflicts and risk of misconduct are mitigated by an investment adviser representative’s fiduciary
duty to act in the best interests of its clients. The firm’s Chief Compliance Officer, Mathew
Whiteaker, is available to address any questions regarding conflicts of interest.
Other Considerations
Neither the firm nor any investment advisor representative are registered or have an application pending to
register, as a futures commission merchant, commodity pool operator, a commodity trading advisor, or a
representative of the foregoing.
As of December 2023, the firm has $346,251,122.00 of discretionary assets under management.