The Firm – tFS
In April 1983, tFS, a full-service independent investment advisory firm was originally established
as Tucker Financial Services and became a registered investment adviser in September 1989. tFS
registered with the SEC in April 2018 and notice filed with Pennsylvania Department Banking &
Securities and State of Maryland Office of the Attorney General. In addition, tFS is notice filed
with the appropriate states in which notice filings are required to provide the investment advisory
services as described within this document. As of January 1, 2017, Mr. Christopher J. Jackson
acquired the firm and the name was changed to truNorth Financial services in 2019. Mr. Jackson
is the Principal Owner and Chief Executive Officer of tFS. Mr. Jackson is responsible for the
supervision of all employees of the Firm and overall management and direction of the advisory
services provided to clients. Mr. Jackson is an Investment Adviser Representative of tFS
(hereinafter referred to as “IAR”).
As of December 31, 2023, tFS managed $ 214,331,000 in assets under management of which $
214,331,000 were discretionary and $0 was non-discretionary.
Services Provided
Investment Advisory Services
Prior to engaging tFS to provide investment advisory services, Clients are required to enter into a
formal Investment Advisory Agreement with the firm, setting forth the terms and conditions under
which the firm will manage the Client's investments, and the fees or other charges the Client will
pay. Separate custodial documents may also be required prior to establishing an account.
Upon signing the Investment Advisory Agreement, Clients grant the IARs limited authority to
manage their portfolios on a discretionary basis, and to respond to inquiries from and communicate
and share information with the Client’s attorney, accountant and other professionals to the extent
necessary in the completion or undertaking of the firms’ services. Clients also authorize tFS and/or
their account custodian(s) to debit their account(s) for payment of investment advisory fees, or to
pay the fee directly if desired. If the Client has not received a copy of the firm’s Disclosure
Document at least 48 hours prior to the execution of this Agreement, the Client shall have 5
business days from the date of execution of this Agreement to terminate the firm’s services without
penalty.
tFS provides investment advisory services for Client(s) and determines a suitable portfolio based
upon the information provided by the Client as to the Client’s investment objectives, risk tolerance
and financial circumstances. The IAR primarily recommends that Clients allocate their investment
assets primarily among various equity and fixed income mutual funds and exchange traded funds
(ETFs). Individual equities, bonds and other fixed income securities may also be recommended to
Clients. The IAR then designs an asset allocated portfolio in accordance with the Client’s
investment objectives, risk tolerance, and investment restrictions, if any, imposed by the Client.
Clients have the ability to impose restrictions on certain securities or types of securities that they
want their investment assets to be allocated. These restrictions are documented on the firm’s
Investment Disclosure Document.
Clients are continually advised that it remains their responsibility to promptly notify tFS if there
is ever any change in their financial situation or investment objectives for the purpose of reviewing,
evaluating, or revising tFS’ previous recommendations or services, or if they wish to impose any
reasonable restrictions on the firm’s investment advisory services.
Occasionally, tFS will provide articles or newsletters to clients through mail, email, or on the
website. These publications have prior approval by the CEO, CCO, or their delegate prior to the
publishing the communication. Copies of these communications are retained by tFS.
On occasion, tFS may provide educational seminars, workshops, or events to Clients and/or
prospects. They will be general in content and will not contain any reference to any particular
recommendation or security. Copies of the materials will be are retained by tFS along with the list
of attendees and invitees, as applicable.
Financial Planning and Consulting Services
The firm’s IARs offer clients Financial Planning and Consulting Services relating, but not
limited, to:
• retirement planning
• education and college expense planning
• estate planning
• investment planning
• net worth, cash flow, and financial position
• portfolio evaluation, design and management
• risk management
• death, disability and retirement planning
• tax planning
• charitable gift planning
• tax efficient wealth distribution/legacy planning
• other investment and non-investment related matters
• business succession planning
Clients are required to enter into the firm’s Financial Planning and Consulting Service Agreement
prior to engaging the firm to provide financial planning or consulting services. This agreement
sets forth the terms and conditions of the engagement, describes the scope of services to be
provided, and the fee(s) that the client will be charged. If the Client has not received a copy of the
firm’s Disclosure Document at least 48 hours prior to the execution of this Agreement, the Client
shall have 5 business days from the date of execution of this Agreement to terminate the firm’s
services without penalty.
The IAR collects the Client's personal and financial data, including their desired financial goals
and objectives. The IARs then analyzes the data and makes recommendations, both orally and/or
in writing for the planning or consulting service(s) that the client desired. All recommendations
are client specific based on the client’s financial goals, risk profile and return objectives, at the
Client's request, IARs may recommend the services of other professionals (attorneys, CPAs,
licensed insurance agents, etc.) for implementation purposes or the use of financial products and
services (insurance and/or securities).
Clients are not obligated to engage the services of any recommended professional. Clients retain
absolute authority over all implementation decisions and are free to accept or reject any
recommendation from tFS or its IARs. Clients are free to select any brokerage firm, insurance
company, or similar sales agency he/she desires for the implementation of any recommendations
made during the analysis of their personal and financial information. Should the Client decide to
implement the IAR’s recommendations with tFS, investments will be transacted through tFS’
qualified custodians. This may cause a potential conflict of interest since advisory fees are paid to
tFS or its IARs through these custodians. The firm generally charges either an hourly or fixed fee
for financial planning and consulting services.
Kristin Ramsay, Chief Operating Officer and Director of Financial Planning, facilitates the firm’s
Financial Planning Services under the supervision of Mr. Jackson. Her duties may include
research, gathering data, helping with projects, utilizing software for financial plans, and any other
duties required for completion and delivery of the financial plan. Ms. Ramsay, through her role of
Chief Operating Officer supervises the administration and operational staff and operations
processes.
Retirement Rollovers
A client or prospective client leaving an employer typically has four options regarding an existing
retirement plan (and may engage in a combination of these options): (i) leave the money in the
former employer’s plan, if permitted, (ii) roll over the assets to the new employer’s plan, if one is
available and rollovers are permitted, (iii) roll over to an Individual Retirement Account (“IRA”),
or (iv) cash out the account value (which could, depending upon the client’s age, result in adverse
tax consequences). When tFs provides rollover advice to a client or prospect regarding a retirement
plan account or individual retirement account, tFs is acting as a fiduciary within the meaning of
Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as
applicable, which are laws governing retirement accounts. If tFs recommends that a client roll over
their retirement plan assets or transfer an IRA into an account to be managed by tFs, and tFs will
earn an advisory fee on the rolled over assets, that recommendation creates a conflict of interest.
Accordingly, tFs operates under a special rule that requires tFs to act in the client or prospects best
interest and not put tFs interest ahead of the client’s or prospects. No client is under any obligation
to roll over retirement plan assets or transfer IRA assets to an account managed by tFs. tFs‘s Chief
Compliance Officer, Chris Jackson, remains available to address any questions that a client or
prospective client may have regarding the conflict of interest presented by such rollover
recommendation.
Interns:
tFS will at times employ interns from local universities and possibly high schools. Interns will be
interviewed by the CEO and/or his delegate other employees. They will submit a resume and the
CEO, CCO, or their delegate will conduct thorough character investigation. They will complete
all appropriate employment paperwork, sign confidentiality agreements, read policies &
procedures, and receive the employee handbook. Their responsibilities will include a wide variety
of basic or specific functions or projects as assigned.
Wrap Fee Program
We do not participate in wrap fee programs,