A. Firm Information
Alpha Financial Partners LLC (“Alpha Financial” or the “Advisor”) is a registered investment advisor with the U.S.
Securities and Exchange Commission (“SEC”). Alpha Financial which is organized as a Limited Liability Company
under the laws of the State of Delaware. Alpha Financial was founded in October 2019 and became a registered
investment advisor in December 2019. Alpha Financial is owned by AFCT, LLC and Sycamore Rd, LLC. The
Principal Officers of Alpha Financial are Marc I. Cobane, CRPS® (Co-Founder and Partner), Aaron P. Ammerman
(Co-Founder and Partner), and Gregory M. Turcotte (Co-Founder, Partner and Chief Compliance Officer).
This Disclosure Brochure provides information regarding the qualifications, business practices, and the advisory
services provided by Alpha Financial. For information regarding this Disclosure Brochure, please contact Greg
Turcotte at (859) 785-2660.
B. Advisory Services Offered
Wealth Management Services
Alpha Financial provides customized wealth management solutions for its Clients. This is achieved through
continuous personal Client contact and interaction while providing discretionary investment management, financial
planning, and related advisory services as described below.
Alpha Financial offers investment advisory services to high-net-worth individuals, families, trusts, estates,
businesses, and retirement plans (each referred to as a “Client”).
The Advisor serves as a fiduciary to Clients, as defined under the applicable laws and regulations. As a fiduciary,
the Advisor upholds a duty of loyalty, fairness and good faith towards each Client and seeks to mitigate potential
conflicts of interest. Alpha Financial’s fiduciary commitment is further described in the Advisor’s Code of Ethics. For
more information regarding the Code of Ethics, please see Item 11 – Code of Ethics, Participation or Interest in
Client Transactions and Personal Trading.
Investment Management Services - Alpha Financial provides customized investment advisory solutions for its Clients.
This is achieved through continuous personal Client contact and interaction while providing discretionary investment
management and related advisory services. Alpha Financial works with each Client to identify their investment goals
and objectives as well as risk tolerance and financial situation in order to create an investment strategy. Alpha
Financial will then design an investment strategy that may include the Advisor’s internal investment management
and/or the use of independent managers and/or internal investment management. The Advisor may retain certain
legacy investments based on portfolio fit and/or tax considerations.
Alpha Financial will select, recommend and/or retain mutual funds on a fund by fund basis. Due to specific custodial
and/or mutual fund company constraints, material tax consideration, and/or systematic investment plans, Alpha
Financial will select, recommend and/or retain a mutual fund share class that does not have trading costs, but do
have higher internal expense ratios than institutional share classes. Alpha Financial will seek to select the lowest
cost share class available that is in the best interest of each Client and will ensure the selection aligns with the
Client’s financial objectives and stated investment guidelines.
Retirement Plan Accounts – When deemed to be in the Client’s best interest, the Advisor will recommend that a
Client roll over its retirement plan account into an account managed by the Advisor. In such instances, the Advisor
will serve as an investment fiduciary as that term is defined under The Employee Retirement Income Security Act of
1974 (“ERISA”). Such a recommendation creates a conflict of interest as the Advisor will earn a new (or increase its
current) advisory fee as a result of the rollover. No client is under any obligation to roll over retirement plan assets
to an account managed by the Advisor.
Internal Management – Alpha Financial will construct Client portfolios utilizing mutual funds, exchange-traded funds
(“ETFs”), mutual funds, individual equities and individual bonds. The Advisor may also utilize options, leveraged
and inverse ETFs, private investments and other types of investments, as appropriate, to meet the needs of certain
Page 5
Clients.
Alpha Financial’s investment approach is primarily long-term focused, but the Advisor may buy, sell or re-allocate
investments that have been held for less than one year to meet the objectives of the Client or due to market
conditions. Alpha Financial will construct, implement and monitor the portfolio to ensure it meets the goals,
objectives, circumstances, and risk tolerance agreed to by the Client. Each Client will have the opportunity to place
reasonable restrictions on the types of investments to be held in their respective portfolio, subject to acceptance by
the Advisor.
Alpha Financial evaluates and selects investments for inclusion in Client portfolios only after applying its internal
due diligence process. Alpha Financial may recommend, on occasion, redistributing investment allocations to
diversify the portfolio. Alpha Financial may recommend specific positions to increase sector or asset class
weightings. The Advisor may recommend employing cash positions as a possible hedge against market movement.
Alpha Financial may recommend selling positions for reasons that include, but are not limited to, harvesting capital
gains or losses, business or sector risk exposure to a specific security or class of securities, overvaluation or
overweighting of the position[s] in the portfolio, change in risk tolerance of Client, generating cash to meet Client
needs, or any risk deemed unacceptable for the Client’s risk tolerance.
At no time will Alpha Financial accept or maintain custody of a Client’s funds or securities, except for the limited
authority as detailed in Item 15 - Custody. All Client assets will be managed within their designated brokerage
account or pension account, pursuant to the Client investment advisory agreement. Please see Item 12 –
Brokerage Practices.
Use of Independent Managers – Alpha Financial in certain circumstances will recommend that a Client utilize one
or more unaffiliated investment managers or investment platforms (collectively “Independent Managers”) in
connection with a Client’s investment strategy[ies]. In such instances, the Client may be required to authorize and
enter into an advisory agreement with the Independent Manager[s] that defines the terms in which the Independent
Manager[s] will provide investment management and related services. The Advisor will assist in the development of
investment policy recommendations and managing the ongoing Client relationship. The Advisor will perform initial
and ongoing oversight and due diligence over the selected Independent Manager[s] to ensure the Independent
Managers’ strategies and target allocations remain aligned with the Clients’ investment objectives and overall best
interests. The Client, prior to entering into an agreement with unaffiliated investment manager[s] or investment
platform[s], will be provided with the Independent Manager's Form ADV 2A (or a brochure that makes the
appropriate disclosures).
Participant Account Management - As part of the Advisor’s Investment Management Services, when appropriate,
the Advisor will use a third-party platform to facilitate management of held away assets such as defined contribution
plan participant accounts, with discretion. The platform allows us to avoid being considered to have custody of
Client funds since we do not have direct access to Client log-in credentials to affect trades. We are not affiliated
with the platform in any way and receive no compensation from them for using their platform. A link will be provided
to the Client allowing them to connect
an account(s) to the platform. Once Client account(s) is connected to the
platform, Adviser will review the current account allocations. When deemed necessary, Adviser will rebalance the
account considering client investment goals and risk tolerance, and any change in allocations will consider current
economic and market trends. The goal is to improve account performance over time, minimize loss during difficult
markets, and manage internal fees that harm account performance. Client account(s) will be reviewed at least
quarterly and allocation changes will be made as deemed necessary.
Financial Planning Services
Alpha Financial will typically provide a variety of financial planning services to Clients. Services may be provided as
part of an overall wealth management engagement or under separate agreement, pursuant to a written financial
planning agreement. Services are offered in several areas of a Client’s financial situation, depending on their goals
and objectives. Generally, such financial planning services will involve preparing a financial plan or rendering a
financial consultation based on the Client’s financial goals and objectives. This planning or consulting may
encompass one or more areas of need, including, but not limited to investment planning, retirement planning,
estate planning, personal savings, education savings and other areas of a Client’s financial situation.
Page 6
A financial plan developed for or financial consultation rendered to the Client will usually include general
recommendations for a course of activity or specific actions to be taken by the Client. For example,
recommendations may be made that the Client start or revise their investment programs, commence or alter
retirement savings, establish education savings and/or charitable giving programs. Alpha Financial may also refer
Clients to an accountant, attorney or other specialist, as appropriate for their unique situation. For certain financial
planning engagements, the Advisor will provide a written summary of Client’s financial situation, observations, and
recommendations. For consulting or ad-hoc engagements, the Advisor may not provide a written summary. Plans
or consultations are typically completed within six months of contract date, assuming all information and documents
requested are provided promptly.
Financial planning and consulting recommendations pose a conflict between the interests of the Advisor and the
interests of the Client. For example, the Advisor has an incentive to recommend that Clients engage the Advisor for
investment management services or to increase the level of investment assets with the Advisor, as it would
increase the amount of advisory fees paid to the Advisor. Clients are not obligated to implement any
recommendations made by the Advisor or maintain an ongoing relationship with the Advisor. If the Client elects to
act on any of the recommendations made by the Advisor, the Client is under no obligation to implement the
transaction through the Advisor.
Business Planning Services
Alpha Financial will typically provide a variety of business planning services to Clients. Services may be provided
under separate agreement, pursuant to a written business planning agreement. Services are offered in several
areas of a Client’s specific situation. Generally, such business planning services will involve preparing a business
plan or rendering a business consultation based on the Client’s business needs. This planning or consulting may
encompass one or more areas of need, including, but not limited to business succession planning, employee
benefit planning, informal business valuation, buy/sell agreement review and other areas of a Client’s business.
A business plan developed for or business consultation rendered to the Client will usually include general
recommendations for a course of activity or specific actions to be taken by the Client. Alpha Financial may also
refer Clients to an accountant, attorney or other specialist, as appropriate for their unique situation. For certain
business planning engagements, the Advisor will provide a written summary of observations, and
recommendations. For consulting or ad-hoc engagements, the Advisor may not provide a written summary. Plans
or consultations are typically completed within six months of contract date, assuming all information and documents
requested are provided promptly.
Retirement Plan Advisory Services
Alpha Financial provides non-discretionary (ERISA 3(21)) or discretionary (ERISA 3(38)) retirement plan advisory
services on behalf of the retirement plans (each a “Plan”) and the company (the “Plan Sponsor”). The Advisor’s
retirement plan advisory services are designed to assist the Plan Sponsor in meeting its fiduciary obligations to the
Plan and its Plan Participants. Each engagement is customized to the needs of the Plan and Plan Sponsor.
Services generally include:
Vendor Analysis
Plan Participant Enrollment and Education Assistance
Investment Policy Statement (“IPS”) Design and Review
Investment Oversight (ERISA)
Discretionary Investment Management (ERISA 3(38))
Performance Reporting
Ongoing Investment Recommendation and Assistance
Benchmarking Services
ERISA 404(c) Assistance
These services are provided by Alpha Financial serving in the capacity as a fiduciary under the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”). In accordance with ERISA Section 408(b)(2), the
Plan Sponsor is provided with a written description of Alpha Financial’s fiduciary status, the specific services to be
rendered and all direct and indirect compensation the Advisor reasonably expects under the engagement.
Page 7
C. Client Account Management
Prior to engaging Alpha Financial to provide investment advisory services, each Client is required to enter into one
or more advisory agreements with the Advisor that define the terms, conditions, authority and responsibilities of the
Advisor and the Client. These services may include:
Establishing an Investment Strategy – Alpha Financial, in connection with the Client, will develop a strategy
targeted to achieve the Client’s investment goals and objectives.
Asset Allocation – Alpha Financial will develop a strategic asset allocation that is targeted to meet the
investment objectives, time horizon, financial situation and tolerance for risk for each Client.
Portfolio Construction – Alpha Financial will develop a portfolio for the Client that is intended to meet the
stated goals and objectives of the Client.
Investment Management and Supervision – Alpha Financial will provide investment management and
ongoing oversight of the Client’s portfolio.
D. Wrap Fee Programs
Alpha Financial includes, in addition to securities transaction fees for certain mutual funds, custodial costs /
administrative fees / wire fees / trade away transactions / other fees and expenses (herein “Covered Costs”)
securities transaction fees together with its investment advisory fees. Including these fees into a single asset-based
fee is considered a “Wrap Fee Program”. The Advisor customizes its investment management services for its
Clients. The Advisor sponsors the Alpha Financial Partners Wrap Fee Program solely as a supplemental disclosure
regarding the combination of fees. Depending on the level of trading required for the Client’s account[s] in a
particular year, the Client may pay more or less in total fees than if the Client paid its own transaction fees. Please
see Appendix 1 – Wrap Fee Program Brochure, which is included as a supplement to this Disclosure Brochure.
E. Assets Under Management
As of December 31, 2022 Alpha Financial manages $257,111,052 in Client assets, $231,170,568 of which are
managed on a discretionary basis and $25,940,484 on a non-discretionary basis. Clients may request more current
information at any time by contacting the Advisor.