Description of Firm 46 Peaks is an SEC registered firm having obtained federal registration with the United States Securities and Exchange Commission ("SEC") on January 10, 2020. We are based in Newtown, Pennsylvania. We are organized as a limited liability company under the laws of the Commonwealth of Pennsylvania. We were formed in 2019 and began operations in February 2020. As of February 1, 2023, 46 Peaks LLC is 100% owned by Louis Fancher III, Erik Mosholt, and Brad Heindel. We conduct business using the trade name, 46 Peaks Investment Advisory Group.
The following paragraphs describe our services. Please refer to the description of each investment advisory service listed below for information on how we deliver these services and how we tailor our services to your individual needs. As used in this brochure, the words "we", "our", "the firm" and "us" refer to 46 Peaks LLC and the words "you", "your" and "client" refer to you as either a client or prospective client of our firm. Also, you may see the terms "Associated Person" or "Investment Adviser Representative" throughout this Brochure. As used in this Brochure, our Associated Persons are our firm's officers, employees, and other staff, and Investment Adviser Representatives are all individuals providing investment advice on behalf of our firm.
The advisory services we offer include Discovery Analysis, Financial Planning, selection of sub- advisers, Retirement Plan Consulting, and Portfolio Management as described more fully below. These services may be offered to clients on an all-inclusive or individual basis.
Our process typically begins with an introductory meeting during which the various services provided by our firm are explained to you. During or after the initial meeting, we collect pertinent information about your personal and financial circumstances and objectives. As needed, we conduct follow-up interviews for the purpose of reviewing and/or collecting financial data. Prior to proceeding with the delivery of advisory services, together with you we determine the scope of the services to be provided.
Discovery Analysis We offer a discovery analysis service to help us organize your financial information and determine the scope of services that are most suitable for your financial situation and investment needs. A discovery analysis provides a framework to: 1. Define your objectives and investment options; 2. Identify areas of greatest concern; 3. Create a personalized picture of your overall financial situation; 4. Help us to address your specific financial needs and objectives. Financial Planning Services We offer broad-based and structured financial planning services. Financial planning typically involves a variety of services regarding the analysis of your individual financial resources, objectives and needs. If you retain us for financial planning services, one or more of our Investment Adviser Representatives will meet with you to gather information about your financial circumstances and objectives such as liquidity needs, personal needs, insurance needs, risk tolerance, and other financial related information. Once we review and analyze the information you provide to us, we may deliver a formal plan to you, designed to help you achieve your stated financial goals and objectives. Thereafter, as needed, we will schedule a series of meetings to review the plan with you, meet with your 4 other advisors (legal, tax, etc.) if necessary, and, if you wish, help you to implement your plan. Please note that we do not provide specific tax or legal advice to our clients but will interface with your other professional service providers to implement your overall financial plan and strategy.
Financial plans are based on your financial situation as you have provided to us at the time we present the plan to you, and on the financial information you provide to us. If you engage us for ongoing financial planning, you must promptly notify us of any changes to your financial situation, goals, objectives, or needs.
If you implement our financial planning recommendations through other advisory services offered by our Investment Adviser Representatives, we may waive or offset the financial planning fee at our sole discretion. You are not obligated to act on our financial planning recommendations. If you choose to act on any of our recommendations, you are not obligated to implement the financial plan through any of our other investment advisory services. You may implement our recommendations with any firm of your choice.
All financial planning projections are dependent on future events that may not be known at the time of planning. As a result, there can be no assurance that any projections or estimates will be realized, nor can there be any assurance that if they are realized, that they will be sufficient to meet future needs. All projections and estimates are furnished for illustrative purposes only and are not predictions or guarantees of future returns.
We may offer you access to an Internet-based financial planning platform that provides a single access point for your financial profile. This web-based platform may offer various personalized reporting or analysis tools for investment planning, asset allocation, insurance needs, benefits analysis, estate planning, and tax reporting, among other services. This platform also provides an online storage capability that enables you to track valuable documents, such as wills, insurance policies, and property titles.
Retirement Plan Consulting Services We offer Retirement Plan consulting services to employee benefit plans and their fiduciaries based upon the needs of the plan and the services requested by the plan sponsor or named fiduciaries. In general, these services may include, but are not limited to, a review of plan features, a review of investment selections, asset allocation consulting, and review and analysis of other plan service providers. If appropriate and practical, we may also provide communication and enrollment services where we assist the plan sponsor by providing information regarding the retirement plan to its participants.
Non-investment related consulting services are non-discretionary and consultative in nature. The ultimate decision to act on behalf of the plan remains with the plan sponsor or other named fiduciaries who are free to seek independent advice about any recommendations for the Plan. Investment related retirement plan consulting services may be discretionary or non-discretionary in nature. The specific nature and terms of the services will be identified in our retirement plan consulting agreement with you.
Portfolio Management Services We offer discretionary and non-discretionary portfolio management services. Generally, this includes an assessment of your investing profile, investment objectives, asset allocation and portfolio design, and ongoing portfolio management. If you retain our firm for portfolio management services, we will meet with you to determine your investment objectives, risk tolerance, investment time horizon and to her relevant information ("suitability information") at the beginning of our advisory relationship. If 5 you are introduced to us by a third-party solicitor, then the third-party solicitor may meet with you to collect your suitability information and provide to us. Generally, we use this suitability information and discussions with each client to identify a "target asset allocation" for you. This target asset allocation is a high level, neutral long-term portfolio that serves as a base line for a current, specific portfolio design.
We maintain current, tactical asset allocation models for each long-term target asset allocation across the risk spectrum from conservative to aggressive. Current asset allocation models usually differ from their neutral long-term target asset allocations, based on our assessment of market conditions and short-term or intermediate-term investment opportunities and risks.
If you participate in our discretionary portfolio management services, we require you to grant our firm discretionary authority to manage your account. Discretionary authorization permits us to determine the specific securities, and the amount of securities, to be purchased or sold and to execute those transactions in your account without your prior approval for each specific transaction. Discretionary authority is typically granted by the investment advisory agreement you sign with our firm and the appropriate trading authorization forms. You may limit our discretionary authority (for example, limiting the types of securities that can be purchased for your account) by providing our firm with your restrictions and guidelines in writing. If you enter a non-discretionary arrangement with our firm, we must obtain your approval prior to executing any transactions on behalf of your account. In general, we expect most of our client relationships to be discretionary in nature.

We will generally accept clients on a non-discretionary basis only if there are extenuating circumstances.
We primarily research and recommend investments in mutual funds, exchange traded funds, exchange traded notes, closed end funds, interval funds, interests in partnerships and other private investments, as well as the recommendation or selection of unaffiliated discretionary portfolio managers for individual client accounts. To a lesser extent, we may recommend investments in individual securities such as individual stocks and bonds on a case-by-case basis.
Our investment advice will be tailored to your situation based on your needs, investment objectives, the size of your portfolio, your tax situation and the tax profile of your account registrations. As part of our portfolio management services, we may recommend a customized investment portfolio for you in accordance with your specific situation, requests, or reasonable restrictions. After we recommend an investment portfolio to you and you agree to implement a portfolio with us, we will implement the selected portfolio investments on your behalf. After the initial investment of your portfolio, we will monitor your portfolio on a periodic basis, and depending on whether or not you have granted us discretionary authority, we will either re-allocate or recommend a reallocation of the portfolio as needed based on our assessment of changes in market conditions and/or your financial circumstances as you advise us. We generally do not implement or recommend frequent changes to client portfolios.
In certain circumstances, as requested by a client, we may provide portfolio management services that are different from the services described above. These situations are typically based on very specific client requests for a portfolio comprised of a specific type of security or to meet a very specific need.
Portfolio management services are rendered primarily on accounts held in custody at Schwab Institutional and to a lesser extent, accounts held at financial institutions other than Schwab Institutional, including 401(k) or other employee benefit accounts. Such services may include analysis and advice on investment options and portfolio strategy recommendations. We may be unable to effect transactions in accounts held at custodians other than Schwab. In such cases, you will be responsible for implementing any recommendations/advice. We may decline your request to provide advice on assets held at custodians other than Schwab Institutional. For more information, please refer to "Other Financial Industry Activities and Affiliations" and "Brokerage Practices" sections of this brochure. 6 Selection of Separate Account Managers As part of our investment advisory services, we may recommend that you use the services of a separate account manager ("SAM") to actively manage on a discretionary basis, a portion of, or your entire investment portfolio. After gathering information about your financial situation and objectives, we may recommend that you engage one or more specific SAMs. Factors that we consider when making our recommendation(s) include, but are not limited to: the SAM's performance, the quality, depth and tenure of the SAMs Portfolio Management personnel, methods of analysis, fees, your financial needs, the size of your portfolio, investment goals, risk tolerance, and investment objectives. We periodically monitor all SAMs to ensure their management and investment style remains aligned with your investment goals and objectives and we will contact you periodically to review your financial situation and objectives, and to assist you in understanding and evaluating the services provided by each SAM. You should promptly notify us of any material change in your financial situation, investment objectives, or account restrictions.
The SAM(s) will actively manage your portfolio and will assume full discretionary investment authority over your account. Our firm will assume limited discretionary authority to hire and fire SAMs who maintain a sub-advisory relationship with our firm, and if you grant us discretionary authority, we will have the same authority for SAMs who are not sub-advisors to us, and to reallocate your assets among such SAMs, when we deem such action to be in your best interest. However, we will not have investment discretion or trading authority over the selection of individual securities in your SAM account. Our ability to hire and fire sub-advisers and other SAMs on your behalf is based on you granting our firm discretionary authority to do so, which is authorized by the investment advisory agreement you sign with our firm.
Types of Investments We primarily offer portfolio management services on portfolios comprised of mutual funds, exchange traded funds, exchanged traded notes, interval funds, and third-party equity and bond SAMs. To a lesser extent, we may also offer portfolio management services on individual securities such as individual stocks, bonds and closed end funds, as well as certificates of deposit, insurance products including but not limited to variable annuities, and private investments such as interests in limited partnerships. We may invest or recommend investment in securities with different degrees of liquidity. Some of these investments may not be available for immediate liquidation (conversion to cash). In the context of financial planning services, we may offer advice on these same types of securities, and we may also provide advice on other securities and investments that are not generally part of our portfolio management services.
Rollover Recommendations Effective December 20, 2021 (or such later date as the US Department of Labor ("DOL") Field Assistance Bulletin 2018-02 ceases to be in effect), for purposes of complying with the DOL's Prohibited Transaction Exemption 2020-02 ("PTE 2020-02") where applicable, we are providing the following acknowledgment to you. When we provide investment advice to you regarding your retirement plan account or individual retirement account, we are fiduciaries 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. The way we make money creates some conflicts with your interests, so we operate under a special rule that requires us to act in your best interest and not put our interest ahead of yours. Under this special rule's provisions, we must:
•Meet a professional standard of care when making investment recommendations (give prudent advice); 7
•Never put our financial interests ahead of yours when making recommendations (give loyal advice);
•Avoid misleading statements about conflicts of interest, fees, and investments;
•Follow policies and procedures designed to ensure that we give advice that is in your best interest;
•Charge no more than is reasonable for our services; and
•Give you basic information about conflicts of interest. We benefit financially from the rollover of your assets from a retirement account to an account that we manage or provide investment advice, because the assets increase our assets under management and, in turn, our advisory fees. As a fiduciary, we only recommend a rollover when we believe it is in your best interest.
IRA Rollover Considerations As part of our investment advisory services to you, you may request or we may recommend that you withdraw the assets from your employer's retirement plan ("Plan") and roll the assets over to an individual retirement account ("IRA") that we will manage on your behalf. There are many factors to consider when deciding whether or not to complete a rollover of Plan assets to an IRA, including but not limited to tax-related issues, availability of investment options, total costs, including any termination fees or back-end fees or commissions, access to professional investment management, liquidity, and protection from creditors. You may wish to discuss these items with a CPA or tax attorney. If you elect to roll the assets to an IRA that is subject to our management, we will charge you an asset-based fee as set forth in your agreement with our firm. This practice presents a conflict of interest because persons providing investment advice on our behalf have an incentive to recommend a rollover to you for the purpose of generating fee-based compensation to us rather than solely based on your needs. You are under no obligation, contractually or otherwise, to complete the rollover. Moreover, if you do complete the rollover, you are under no obligation to have the assets in an IRA managed by our firm. Prior to proceeding, if you have any questions you should contact your Investment Adviser Representative or call our main number listed on the cover page of this brochure.
Assets Under Management As of January 29, 2024, we provide continuous management services for $197,578,430 in client assets managed on a discretionary basis.