FirmInformation
RetireRightisafull-serviceretirementplanconsultinggroupwithateamofindustryprofessionals,each
withmorethan25yearsofindustryexperience. Beingbothvendorandinvestmentneutral,ourfunction
istoserveastrueindependentconsultants. Webringourclientsadvice,innovativedesignideas,
sophisticatedguidance,andexperience-backedrecommendations.
RetireRightprovidesinvestmentandretirementplanconsultingservicestocorporations,government
entities,non-profitorganizations,andindividuals.Wehelpfiduciariesseekprotectionfromthepersonal
andcorporateliabilityrelatedtotheretirementplan,whileaimingtoenhancepotentialinvestment
opportunitiesandultimatelyhelpingparticipantsworktowardfinancialsecurity. Inhelpingplan
sponsorsdeliverhighqualityretirementprogramswehelpcontaincosts,addressregulatory
requirements,andpromoteanindependentprudentprocess.
Thefirmwasfoundedonthebeliefthataretirementplanservesatruepurposetoparticipantsandthe
organization. Thefirmisemployee-centricandcommittedtocreatinganexceptionalretirementplan
experience.
ExecutiveManagementTeam
BrianR.Ormord,ManagingMember
Focusingonemployersandretirementplanningsince1990,Brianstartedhiscareerworkingforoneof
the401(k)industry'sleadingretirementplanproviders. Brianhasbeensecuritiesregisteredsince
Septemberof1994.
Mr.OrmordearnedtheCharteredRetirementPlansSpecialist®(CRPS®)designationfromTheCollege
forFinancialPlanning.In2005,BriancompletedtheAccreditedInvestmentFiduciary®(AIF®)program
throughtheCenterforFiduciaryStudies.Thisdesignationalongwiththeeducationreceivedand
commitmenttotheAIF®ethicalpolicyhaspreparedBriantoassistplansponsorswiththeselectionand
ongoingmonitoringoftheinvestmentofferingsintheirplan.Inmanycases,Briancanserveasa3(21)
fiduciarytotheplan.HeearnedtheProfessionalPlanConsultant™designation,alsofromtheCenterfor
FiduciaryStudies. HeholdstheFINRASeries6,7,63and66registrations.
Mr.OrmordalsoprovidesinvestmentservicestocustomersofPremierBankandmaintainsanofficeata
branchlocation,additionaldetailsareprovidedinhisindividualdisclosurebrochure(ADV2B).
Henry(Dan)Kinney,ManagingMember
Mr.KinneystartedintheFinancialServicesbusinessonSeptember1,1987,thethirdgenerationofhis
familytodosoandisdedicatedtodevelopingandimplementingprocessesforhisclientsthatwork
towardsimprovingpersonalandcorporateretirementplans. HeholdstheFINRA6,7,and63
registrations. Danhasworkedwithoneofthenation’sleadingpensioncompanies.Heisalsoan
AccreditedInvestmentFiduciary®(AIF®). DanworkswithhisclientsasanERISA3(21)Co-fiduciaryand
isalwaysseekingoutnewwaystoimprovehisclients'experience.
A1986GraduateoftheUniversityofIowa,anda1984GraduateofNewMexicoMilitaryInstitute. He
servedasanOfficerintheIowaNationalGuard,1/133rd,asanInfantryPlatoonLeader,Company
Commander,andBattalionStaffOfficer. In1991DanspenttheyearinMoscow,Russiaastheheadofa
tradeorganizationbetweenIowaandRussiacalledJBDeMos. HeisalsoagraduateoftheGreaterDes
MoinesLeadershipInstituteandwasawardedthe'40under40'designationbytheDesMoinesBusiness
Record.
DirkM.Dixon,ManagingMember
Mr.DixonisanEnrolledAgent(EA)withalicensetopracticedirectlyfromtheIRSandtheUnitedStates
TreasuryandanAccreditedInvestmentFiduciary®(AIF®). AftermakingtheDeans’Listeverysemester
atGrandViewCollege,hegraduatedin1997withaBachelorofBusinessAdministration. Heholdsthe
FINRA6,63,and65. Dirkisamemberof the IowaBoardofAccountancy.Thestateboardistheonlybody
thatcanrevokealicensetopractice. Stateboardsarenotaffiliatedwithanytradeassociation.Board
members,bothdrawnfromtheaccountingprofessionandothers,areappointedtoservebythe
Governor.Stateboardsofaccountancyhavedisciplinaryandenforcementpowersoverlicenseesand
operateonacomplaint-basedsystem.
ServicesOffered
Servicesareprovidedprimarilytocorporations,governmententities,non-profitorganizations,and
individualsbyprovidingregularandcontinuousmanagementandsupervisionofassetsaswellas
providingfinancialplanningservices. Assetsaremanagedwithafocusoninvestmentgoals,objectives,
risktoleranceandfinancialsituation. Investmentportfoliosconsistoflow-cost,diversifiedmutualfunds
and/orexchange-tradedfunds(“ETFs”)aswellasindividualstocks,bonds,margin,shorts,alternative
investments,and/oroptionscontractsasappropriate. Thefirm’sinvestmentstrategy[ies]isprimarily
long-termfocused,butthefirmmaybuy,sell,orre-allocatepositionsthathavebeenheldlessthanone
yeartomeettheobjectivesoftheClientorduetomarketconditions.
• Atnotimewillthefirmacceptormaintaincustodyoffundsorsecurities.AllClientassetswillbe
managedwithinthedesignatedaccount[s]attheCustodian,pursuanttothetermsofthe
agreement.PleaseseeItem12–BrokeragePracticesandItem15-Custody.
• Investmentadvisorrepresentativesprovideadviceonthepurchaseandsaleofvarioustypesof
investments,suchasmutualfunds,exchange-tradedfunds(“ETFs”),variableannuitysubaccounts,
realestateinvestmenttrusts(“REITs”),equities,andfixedincomesecurities.
• Theadviceistailoredtotheindividualneedsoftheclientbasedontheinvestmentobjective
chosenbytheclientinordertoassistclientsinattemptingtomeettheirfinancialgoals.
• Accountsarereviewedonaregularbasisandrebalancedasnecessaryaccordingtoeachclient’s
investmentprofile.Morespecificaccountinformationandacknowledgementsarefurtherdetailed
intheaccountopeningdocuments.
• Investmentadvisorrepresentativecanassistaclientinidentifyingathird-partyportfolio
manager. ThePortfolioManagermanagesclient’sassetsonadiscretionarybasis.
o ThefirmwillprovideinitialandongoingassistanceregardingthePortfolioManager
selectionprocess.
o TheclientcanauthorizethePortfolioManagertoactonadiscretionarybasistopurchase,
sellandrebalancetheaccountholdings.
Aminimumaccountvalueof$5,000to$250,000isgenerallyrequiredtoopenanaccountdependingon
theplatformselected. Additionalplatformdetailsandplatformspecificdisclosurebrochuresare
providedaspartoftheaccountopeningprocess.
LPLFinancial(LPL)SponsoredPrograms
StrategicWealthManagement(SWMIandSWMII)
StrategicWealthManagementisthenameofthecustodialaccountofferedthroughLPLtosupport
investmentadvisoryservicesprovidedbythefirm.WithinaSWMaccount,investmentadvisor
representativesprovideadviceonthepurchaseandsaleofvarioustypesofinvestments,suchasmutual
funds,exchange-tradedfunds(“ETFs”),variableannuitysubaccounts,realestateinvestmenttrusts
(“REITs”),equities,andfixedincomesecurities.Theadviceistailoredtotheindividualneedsoftheclient
basedontheinvestmentobjectivechosenbytheclientinordertoassistclientsinattemptingtomeet
theirfinancialgoals.Accountsarereviewedonaregularbasisandrebalancedasnecessaryaccordingto
eachclient’sinvestmentprofile.Morespecificaccountinformationandacknowledgementsarefurther
detailedintheaccountopeningdocuments.
InvestmentAdvisorRepresentativescanofferSWMIorSWMII.Theaccountsofferthesameinvestment
choicesandaremanagedinthesamemanner,butthefeestructureisdifferent. ForSWMI,clientsare
chargedtransactionfeesinadditiontotheadvisoryfee,whereasforSWMII,thetransactionfeesare
absorbedaspartoftheadvisoryfee.
RetireRightWrapFeeProgram
ThefirmoffersSWMIIasawrapfeeprogramwherethefirmactsasthesponsorandportfoliomanager.
• Awrapfeeprogramisacomprehensiveadvisoryaccountwithasinglefeethatcoversabundleof
servicessuchas,portfoliomanagement,advice,andinvestmentresearchaswellastrade
execution,custody,andreportingfee.
• PleaseseeAppendix1–WrapFeeProgramBrochure,whichisincludedasasupplementtothis
DisclosureBrochure.TheadvisoryfeefortheWrapFeeProgramtoaccountforthetransaction
fees.
Dependingontheanticipatedleveloftrading,investmentadvisorrepresentativesofthefirmwillwork
witheachclienttodeterminethemostcost-effectivefeestructure.
OptimumMarketPortfoliosProgram(OMP)
OMPoffersclientstheabilitytoparticipateinaprofessionallymanagedassetallocationprogramusing
OptimumFundsshares. UnderOMP,clientwillauthorizeLPLonadiscretionarybasistopurchaseand
sellOptimumFundspursuanttoinvestmentobjectiveschosenbytheclient. Investmentadvisor
representativewillassisttheclientindeterminingthesuitabilityofOMPfortheclientandassistthe
clientinsettinganappropriateinvestmentobjective. Investmentadvisorrepresentativewillhave
discretiontoselectamutualfundassetallocationportfoliodesignedbyLPLconsistentwiththeclient’s
investmentobjective. LPLwillhavediscretiontopurchaseandsellOptimumFundspursuanttothe
portfolioselectedfortheclient. LPLwillalsohaveauthoritytorebalancetheaccount.
Aminimumaccountvalueof$10,000isrequiredforOMP. Incertaininstances,LPLwillpermitalower
minimumaccountsize.
ModelWealthPortfoliosPrograms(MWP)
MWPoffersclientsaprofessionallymanagedmutualfundassetallocationprogram. GoodLifeAdvisors
willobtainthenecessaryfinancialdatafromtheclient,assisttheclientindeterminingthesuitabilityof
theMWPprogramandassisttheclientinsettinganappropriateinvestmentobjective. Theinvestment
advisorrepresentativewillinitiatethestepsnecessarytoopenanMWPaccountandhavediscretionto
selectamodelportfoliodesignedbyLPL’sResearchDepartmentconsistentwiththeclient’sstated
investmentobjective. LPL’sResearchDepartmentorthird-partyportfoliostrategistsareresponsiblefor
selectingthemutualfundsorETFswithinamodelportfolioandformakingchangestothemutualfunds
orETFsselected.
TheclientwillauthorizeLPLtoactonadiscretionarybasistopurchaseandsellmutualfundsandETFs
andtoliquidatepreviouslypurchasedsecurities. TheclientwillalsoauthorizeLPLtoeffectrebalancing
forMWPaccounts.
MWPrequiresaminimumassetvalueforaprogramaccounttobemanaged.Theminimumsvary
dependingontheportfolio(s)selectedandtheaccount’sallocationamongstportfolios.Thelowest
minimumforaportfoliois$10,000.Incertaininstances,alowerminimumforaportfolioispermitted.
GuidedWealthPortfolios(GWP)
GWPoffersclientstheabilitytoparticipateinacentrallymanaged,algorithm-basedinvestmentprogram,
whichismadeavailabletousersandclientsthroughaweb-based,interactiveaccountmanagement
portal(“InvestorPortal”). Investmentrecommendationstobuyandsellopen-endmutualfundsand
exchange-tradedfundsaregeneratedthroughproprietary,automated,computeralgorithms(collectively,
the“Algorithm”)ofXulu,Inc.,doingbusinessasFutureAdvisors(“FutureAdvisors”),baseduponmodel
portfoliosconstructedbyLPLandselectedfortheaccountasdescribedbelow(suchmodelportfolio
selectedfortheaccount,the“ModelPortfolio”).CommunicationsconcerningGWPareintendedtooccur
primarilythroughelectronicmeans(includingbutnotlimitedto,throughemailcommunicationsor
throughtheInvestorPortal),althoughthefirmwillbeavailabletodiscussinvestmentstrategies,
objectives,ortheaccountingeneralinpersonorviatelephone.
Withintheapplicableallocationtrackandbaseduponaclient’schosenRetirementAgeintheClient
Profile,theclientwillbeassignedaModelPortfolioandoneoffivebroker-dealer’sstandardinvestment
objectives:
• Incomewithcapitalpreservation.Designedasalonger-termaccumulationaccount,this
investmentobjectiveisconsideredgenerallythemostconservative.Emphasisisplacedon
generationofcurrentincomewithminimalriskofcapitalloss. Loweringtheriskgenerallymeans
loweringthepotentialincomeandoverallreturn.
• Incomewithmoderategrowth.Thisinvestmentobjectiveemphasizesgenerationofcurrent
incomewithasecondaryfocusonmoderatecapitalgrowth.
• Growthwithincome.Thisinvestmentobjectiveemphasizesmodestcapitalgrowthwithsome
focusongenerationofcurrentincome.
• Growth.Thisinvestmentobjectiveemphasizesachievinghighlong-termgrowthandcapital
appreciation. Thereislittlefocusongenerationofcurrentincome.
• Aggressivegrowth.Thisinvestmentobjectiveemphasizesaggressivegrowthandmaximumcapital
appreciation,withnofocusongenerationofcurrentincome. Thisobjectivehasaveryhighlevelof
riskandisforinvestorswithalongertimerhorizon.
AsaclientapproachestheRetirementAge,theAlgorithmwillautomaticallyadjusttheclient’sasset
allocation. AnychangetotheInvestmentObjectivedirectedbyaclientduetochangesintheClient’srisk
toleranceand/orRetirementAgewillrequirewrittenapprovalfromtheclientandthefirmbefore
implementation. FailuretoapprovethechangeinInvestmentObjectivemayresultinaclientremaining
inaModelPortfoliothatisnolongeralignedwiththeapplicableClientProfile. TheInvestmentObjective
selectedfortheaccountisanoverallobjectivefortheentireaccountandmaybeinconsistentwitha
particularholdingandtheaccount’sperformanceatanytimeandmaybeinconsistentwithotherasset
allocationssuggestedtoclientbybroker/dealer,thefirmorFutureAdvisorspriortocliententeringinto
theAccountAgreement. Thetermsandconditionsforclientparticipationintheadvisoryprogramsare
setforthinthefirm’advisoryagreementsandaccountpaperworkfortheadvisoryprograms.
RetirementPlanConsultingServices
Investmentadvisorrepresentativesassistclientsthataretrusteesorotherfiduciariestoretirement
plans(“Plans”)byprovidingfee-basedconsultingand/oradvisoryservices. Investmentadvisor
representativesperformoneormoreofthefollowingservices,asselectedbytheclientintheclient
agreement:
• Assistanceinthepreparationorreviewofaninvestmentpolicystatement(“IPS”)forthePlan
baseduponconsultationwithclienttoascertainPlan’sinvestmentobjectivesandconstraints.
• ActingasaliaisonbetweenthePlanandserviceproviders,productsponsorsorvendors.
• Ongoingmonitoringofinvestmentmanager(s)orinvestmentsinrelationtothecriteria
specifiedinthePlan’sIPSorotherwrittenguidelinesprovidedbytheclienttotheIAR.
• PreparationofreportsdescribingtheperformanceofPlaninvestmentmanager(s)or
investments,aswellascomparingtheperformancetobenchmarks.
• Ongoing recommendations for consideration and selection by client about specific
investments to be held by the Plan or, in the case of a participant-directed defined
contributionplan,tobemadeavailableasinvestmentoptionsunderthePlan.
• TrainingforthemembersofthePlanCommitteeregardingtheirserviceontheCommittee,
includingeducationandconsultingwithrespecttofiduciaryresponsibilities.
• AssistanceinenrollingPlanparticipantsinthePlan,includingconductinganagreedupon
numberofenrollmentmeetings.Aspartofsuchmeetings,Representativesmayprovide
participantswithinformationaboutthePlan,whichincludesinformationonthebenefitsofPlan
participation,thebenefitsofincreasingPlancontributions,theimpactofpre-retirement
withdrawalson retirementincome,thetermsofthePlanandtheoperationofthePlan.
• AssistancewithinvestmenteducationseminarsandmeetingsforPlanparticipants.Such
meetingsmaybeonagrouporindividualbasisandincludesinformationabouttheinvestment
optionsunderthePlan(e.g.,investmentobjectives,risk/returncharacteristics,andhistorical
performance),investmentconcepts(e.g.,diversification,assetclasses,andriskandreturn),and
howtodetermineinvestmenttimehorizonsandassessrisktolerance.Suchmeetingsdonot
includespecificinvestmentadviceaboutinvestmentoptionsunderthePlanasbeing
appropriateforaparticularparticipant.
• Assistanceatclient’sdirectioninmakingchangestoinvestmentoptionsunderthePlan.
•
Assistancewiththepreparation,distributionandevaluationofRequestforProposals,finalist
interviews,andconversionsupportinconnectionwithvendoranalysisandserviceprovider
support.
• PreparationofcomparisonsofPlandata(e.g.,regardingfeesandservicesandparticipant
enrollmentandcontributions)todatafromthePlan’sprioryearsand/orabenchmarkgroupof
similarplans.
• AssistanceinidentifyingthefeesandothercostsbornebythePlanfor,asspecifiedbyclient,
investmentmanagement,recordkeeping,participanteducation,participantcommunication
and/orotherservicesprovidedwithrespecttothePlan.
• Non-DiscretionaryModelPortfolios.IARwillrecommend,forconsiderationandapprovalby
Client,(i)assetallocationtarget-dateorrisk-basedmodelportfoliosforthePlantomakeavailable
toPlanparticipants,and(ii)fundsfromtheline-upofinvestmentoptionschosenbytheClientto
includeinsuchmodelportfolios.
IfthePlanmakesavailablepubliclytradedemployerstock(“companystock”)asaninvestmentoption
underthePlan,Representativesdonotprovideinvestmentadviceregardingcompanystockandarenot
responsibleforthedecisiontooffercompanystockasaninvestmentoption. Inaddition,ifparticipants
inthePlaninvesttheassetsintheiraccountsthroughindividualbrokerageaccounts,amutualfund
window,orothersimilararrangement,orobtainparticipantloans,IARsdonotprovideany
individualizedadviceorrecommendationstotheparticipantsregardingthesedecisions. Furthermore,
IARsdonotprovideindividualizedinvestmentadvicetoPlanparticipantsregardingtheirPlanassets.
IfaclientelectstoengagethefirmandourInvestmentAdvisorRepresentativestoperformongoing
investmentmonitoringandongoinginvestmentrecommendationservicesintheclientagreement,such
serviceswillconstitute“investmentadvice”underSection3(21)(A)(ii)ofERISA. Therefore,thefirmand
ourIARwillbedeemeda“fiduciary”assuchtermisdefinedunderSection3(21)(A)(ii)ofERISAin
connectionwiththoseservices.ClientsshouldunderstandthattotheextentthefirmandourIARsare
engagedtoperformservicesotherthanongoinginvestmentmonitoringandrecommendations,those
servicesarenot“investmentadvice”underERISA,andtherefore,thefirmandourIARswillnotbea
“fiduciary”underERISAwithrespecttothoseotherservices.
RetirementPlanRollovers
Anemployeegenerallyhasfour(4)optionsfortheirretirementplanwhentheyleaveanemployer:
Leavethemoneyinhis/herformeremployer’splan,ifpermitted
Rollovertheassetstohis/hernewemployer’splanifoneisavailableandpermitted
RollovertoanIndividualRetirementAccount(IRA),or
Cashouttheaccountvalue,whichhassignificanttaxconsiderations
Eachoftheseoptionshasadvantagesanddisadvantagesandbeforemakingachangeweencourageyouto
speakwithyourCPAand/ortaxattorney.Ifyouareconsideringrollingoveryourretirementfundstoan
IRAforustomanagehereareafewpointstoconsiderbeforeyoudoso:
• Determinewhethertheinvestmentoptionsinyouremployer'sretirementplanaddressyourneeds
orwhetheryoumightwanttoconsiderothertypesofinvestments.
• EmployerretirementplansgenerallyhaveamorelimitedinvestmentmenuthanIRAs.
• Employerretirementplansmayhaveuniqueinvestmentoptionsnotavailabletothepublicsuchas
employersecurities,orpreviouslyclosedfunds.
• Yourcurrentplanmayhavelowerfeesthanourfees.
IfyouelecttorolltheassetstoanIRAthatissubjecttoourmanagement,wewillchargeyouanasset-based
feeassetforthintheagreementyouexecutedwithourfirm.Thispracticepresentsaconflictofinterest
becauseInvestmentAdvisorRepresentativeshaveanincentivetorecommendarollovertoyouforthe
purposeofgeneratingfee-basedcompensationratherthansolelybasedonyourneeds.Youareunderno
obligation,contractuallyorotherwise,tocompletetherollover.Moreover,ifyoudocompletetherollover,
youareundernoobligationtohavetheassetsinanIRAmanagedbyourfirm.
Manyemployerspermitformeremployeestokeeptheirretirementassetsintheircompanyplan.Also,
currentemployeescansometimesmoveassetsoutoftheircompanyplanbeforetheyretireorchangejobs.
IndeterminingwhethertocompletetherollovertoanIRA,andtotheextentthefollowingoptionsare
available,youshouldconsiderthecostsandbenefitsofeach.Anemployeewilltypicallybeinvestingonly
inmutualfunds,youshouldunderstandthecoststructureoftheshareclasses,availableinyouremployer's
retirementplanandhowthecostsofthoseshareclassescomparewiththoseavailableinanIRA.Clients
shouldunderstandthevariousproductsandservicestheymighttakeadvantageofatanIRAproviderand
thepotentialcostsofthoseproductsandservices.
• Ourstrategymayhavehigherriskthantheoption(s)providedtoyouinyourplan.
• Yourcurrentplanmayalsoofferfinancialadvice.
• Ifyoukeepyourassetstitledina401korretirementaccount,participantscouldpotentiallydelay
theirrequiredminimumdistributionbeyondage.
• A401(k)mayoffermoreliabilityprotectionthanarolloverIRA;eachstatemayvary.
• Participantsmaybeabletotakeoutaloanonyour401k,butnotfromanIRA.
IRAassetscanbeaccessedanytime;however,distributionsaresubjecttoordinaryincometaxandmay
alsobesubjecttoa10%earlydistributionpenaltyunlesstheyqualifyforanexceptionsuchasdisability,
highereducationexpensesorthepurchaseofahome.
Ifcompanystockisownedinaplan,participantsmaybeabletoliquidatethosesharesatalowercapital
gainstaxrate.
PlansmayallowAdvisortobehiredasthemanagerandkeeptheassetstitledintheplanname.
Generally,federallawprotectsassetsinqualifiedplansfromcreditors.Since2005,IRAassetshavebeen
generallyprotectedfromcreditorsinbankruptcies.However,therecanbesomeexceptionstothegeneral
rulessoyoushouldconsultwithanattorneyifyouareconcernedaboutprotectingyourretirementplan
assetsfromcreditors.
Itisimportanttounderstandthedifferencesbetweenthesetypesofaccountsandtodecidewhethera
rolloveristhebestoption.Priortoproceeding,ifyouhavequestionscontactyourInvestmentAdviser
Representative,orcallourmainnumberaslistedonthecoverpageofthisbrochure.
WhenAdvisorprovidesinvestmentadvicetoyouregardingyourretirementplanaccountorindividual
retirementaccount,wearefiduciarieswithinthemeaningofTitleIoftheEmployeeRetirementIncome
SecurityActand/ortheInternalRevenueCode,asapplicable,whicharelawsgoverningretirement
accounts.Thewaywemakemoneycreatessomeconflictswithyourinterests,soweoperateundera
specialrulethatrequiresustoactinyourbestinterestandnotputourinterestaheadofyours.Underthis
specialrule’sprovisions,wemust:
• Meetaprofessionalstandardofcarewhenmakinginvestmentrecommendations(giveprudent
advice);
• Neverputourfinancialinterestsaheadofyourswhenmakingrecommendations(giveloyaladvice);
• Avoidmisleadingstatementsaboutconflictsofinterest,fees,andinvestments;
• Followpoliciesandproceduresdesignedtoensurethatwegiveadvicethatisinyourbestinterest;
• Chargenomorethanisreasonableforourservices;and
• Giveyoubasicinformationaboutconflictsofinterest.
• Advisoralsoprovideseducationalservicestoretirementplanparticipantswithassetsthatcould
potentiallyberolled-overtoanIRAadvisoryaccount.EducationisbasedonaparticularClient’s
financialcircumstancesandbestinterests.Again,Advisorhasanincentivetorecommendsucha
rolloverbasedonthecompensationreceived,whichismitigatedbythefiduciarydutytoactina
Client’sbestinterestandactingaccordingly.
ERISAFiduciary
SuchservicesprovidedasanIARaresubjecttotheInvestmentAdvisersActof1940(“AdvisersAct”),and
theadvisorisafiduciaryundertheAdvisersActwithrespecttosuchservices. Inaddition,ifclientelectsto
engageanIARtoperformongoinginvestmentmonitoringandongoinginvestmentrecommendation
servicestoaPlansubjecttoERISAintheclientagreement,suchserviceswillconstitute“investmentadvice”
underSection3(21)or3(38)ofERISA.Therefore,theIARswillbedeemeda“fiduciary”assuchtermis
definedunderSection3(21)or3(38)ofERISAinconnectionwiththoseservices.Clientsshouldunderstand
thattotheextenttheinvestmentadvisorrepresentativeisengagedtoperformservicesotherthanongoing
investmentmonitoringandrecommendations,thoseservicesarenot“investmentadvice”underERISAand
therefore,theinvestmentadvisorrepresentativewillnotbea“fiduciary”underERISAwithrespecttothose
otherservices.
FromtimetotimetheIARmaymakethePlanorPlanparticipantsawareofandmayofferservicesavailable
fromIARthatareseparateandapartfromtheservicesprovidedunderRetirementPlanConsulting.Such
otherservicesmaybeservicestothePlan,toaclientwithrespecttoclient'sresponsibilitiestothePlan
and/ortooneormorePlanparticipants. Inofferinganysuchservices,theinvestmentadvisor
representativeisnotactingasafiduciaryunderERISAwithrespecttosuchofferingofservices.Ifanysuch
separateservicesareofferedtoaclient,theclientwillmakeanindependentassessmentofsuchservices
withoutrelianceontheadviceorjudgmentoftheIAR.
SmallMarketSolution(SMS)Program
UnderSMS,LPLResearch(ateamofinvestmentprofessionalswithinLPL)createsandmaintainsaseries
ofdifferentinvestmentmenus(“InvestmentMenus”)consistingofamixofdifferentassetclassesand
investmentvehicles(“investmentoptions”)forclientsthatsponsorandmaintainparticipant-directed
definedcontributionplans(“PlanSponsors”).ThePlanSponsorisresponsibleforselectingthe
InvestmentMenuthatitbelievesisappropriatebasedonthedemographicsandothercharacteristicsof
thePlananditsparticipants.broker/dealerResearchisresponsiblefortheselectionandmonitoringof
theinvestmentoptionsmadeavailablethroughInvestmentMenus(“FiduciarySelectionServices”).The
investmentoptionsthatareofferedthroughSMSarelimitedtothespecificinvestmentsavailablethrough
therecordkeeperthatthePlanSponsorselects.ThePlanSponsormayonlyselectanInvestmentMenuin
itsentiretyanddoesnothavetheoptiontoremoveorsubstituteaninvestmentoption.
• IfthePlanissubjecttoERISA,broker/dealerwillbea“fiduciary”andserveas“investment
manager”(asthattermisdefinedinsection3(38)ofERISA)inconnectionwiththeFiduciary
SelectionServices.NoneoftheservicesofferedunderSMSotherthantheFiduciarySelection
Serviceswillconstitute“investmentadvice”under3(21)(A)(ii)ofERISA,orotherwisecause
broker/dealerorthefirmtobedeemedafiduciary.
InadditiontotheFiduciarySelectionServices,PlanSponsormayalsoselectfromanumberofnon-
fiduciaryconsultingservicesavailableunderSMSthatareprovidedbythefirm.Theseconsultingservices
mayincludebutarenotlimitedtogeneraleducationandsupportregardingthePlanandtheinvestment
optionsselectedbyPlanSponsor;assistanceregardingtheselectionof,andongoingrelationship
managementfor,recordkeepersandotherthird-partyvendors;Planparticipantenrollmentsupport;and
participant-leveleducationregardinginvestmentinthePlan.Theseconsultingservicesdonotinclude
anyindividualizedinvestmentadvicetothePlanSponsororPlanparticipantswithrespecttoPlanassets,
thefirmdoesnotactasfiduciariesunderERISAinprovidingsuchconsultingservices.
ThirdPartyAdvisoryServices
Thefirmcanestablishagreementswiththird-partyadvisors. Anysuchthird-partyinvestmentadviser
willbeproperlyregisteredintheapplicablestatejurisdictionorwiththeSEC. Thefirmwillreceive
compensationpursuanttoanysuchagreement.
Clientswhoarereferredtothird-partyinvestmentadviserswillreceivefulldisclosure,including
servicesrenderedandfeeschedules. Clientswillberequiredtoenterintoanadvisoryagreement
andcompleteotheraccountspecificdocumentswiththethird-partyinvestmentadvisorinorder
toestablishanaccount. Thefirmwillassistindetermininganappropriatethird-partyadviserbut
doesnotparticipateintheactualmanagementofaccount.
FinancialPlanningServices
Thefirmthroughitsinvestmentadvisorrepresentativesgenerallyprovidesfinancialplanningaspartof
acomprehensiveassetmanagementengagement. However,financialplanningisavailableseparatelyfor
aseparatefee.Thetypeofplancanvarygreatlydependingonthescopeandcomplexityofaparticular
individual’sfinancialsituationbutmayinclude:
PlanningStrategiesforFamiliesandIndividuals
• Retirement–planninganinvestmentstrategywiththeobjectiveofprovidinginflation-adjusted
incomeforlife.
• College/Education–planningtopaythefuturecollege/educationexpensesofachildor
grandchild.
• InsuranceNeeds–planningforthefinancialneedsofsurvivorstosatisfysuchfinancial
obligationsashousing,dependentchildcare,andspousalarrangementsaswellas
education.
• EstatePlanning–planningthatfocusesonthemostefficientandtaxfriendlyoptiontopassonan
estatetoaspouse,otherfamilymembersoracharity.
• CashFlow/BudgetPlanning–planningtomanageexpensesagainstcurrentandprojected
income.
• WealthAccumulation–planningtobuildwealthwithinaportfoliothattakesintoconsideration
risktoleranceandtimehorizon.
• TaxPlanning–planningataxefficientinvestmentportfoliotomaximizedeductionsandoff-
settinglosses.
• InvestmentPlanning–planninganinvestmentstrategyconsistentwith particularobjectives,
timehorizonsandrisktolerances.
• InheritancePlanning–planningforataxefficientmethodtopasswealthtothenextgeneration.
PlanningStrategiesforBusinesses
• BusinessEntityPlanning–reviewthevariousformsofbusinessstructuresinrelationtoliability
andincometaxconsiderations.
• QualifiedRetirementPlans–evaluatethetypesofretirementplansestablishedbyanemployer
forthebenefitofthecompany’semployees.
• StockOptionPlanning–planningtomaximizethevalueofemployerissuedstockoptionsand
optimizewhattoexerciseandwhattohold.
• KeyPersonPlanning–evaluatethelifeinsuranceneedsrequiredintheeventofthesuddenloss
ofakeyexecutiveinordertobuytimetofindanewpersonortoimplementotherstrategiesto
continuethebusiness.
• ExecutiveBenefits–planningtoattract,rewardandretaintopexecutivetalent.
• DeferredCompensationPlans–planningfortheuseoftaxdeferredfundstobewithdrawnand
taxedatsomepointinthefuture.
• BusinessSuccessionPlanning–planningforthecontinuationofabusinessafterkeyexecutives
moveontonewopportunities,retireorpassawaywiththeuseofbuy-sellagreements,key-man
insuranceandengagingindependentlegalcounselasneeded.
Priortoengagingthefirmtoprovidestand-aloneplanningorconsultingservices,clientsarerequiredto
enterintoaFinancialPlanningandConsultingAgreementsettingforththetermsandconditionsofthe
engagement(includingtermination),describingthescopeoftheservicestobeprovided,andtheportion
ofthefeethatisduefromtheclientpriortothefirmcommencingservices.Ifrequestedbytheclient,the
firmmayrecommendtheservicesofotherprofessionalsforimplementationpurposes,includingour
IARsintheirindividualcapacitiesasregisteredrepresentativeofLPLFinancialandaslicensed
insuranceagents(“RecommendedProfessional”).
ClientAccountManagement
Priortoanengagementeachclientisrequiredtoenterintoanagreementthatdefinestheterms,
conditions,andfees.
AssetsUnderManagement
Theassetsundermanagementareupdatedatleastannuallywithin90daysoftheDecember31fiscal
year-end. Clientsmayrequestmorecurrentinformationatanytimebycontactingthefirm.
AssetsunderManagement(03/30/2023)
Discretionary$111,671,853
Non-Discretionary$392,875,505
Total$504,547,358