A. Description of the Advisory Firm TFS Advisors, LLC is a Limited Liability Company organized in the state of Washington.
The entity was formed in April 2008, but did not engage in any business from that time until becoming a registered investment adviser in August 2013. TFS Advisors, LLC provides investment consulting and advanced financial planning services which includes asset allocation and portfolio management services and customized financial planning solutions to its clients. This is the natural progression of services that began at Mr. Terwedo’s career inception in 1983. The firm is owned by Dale Terwedo and Aaron Terwedo.
B. Types of Advisory Services TFS Advisors, LLC (hereinafter “TFS”) offers the following services to advisory clients: Comprehensive Wealth Management Services TFS’s approach is to help each client individually establish and then reach specific goals while staying within the risk tolerance level indicated by each client. TFS accomplishes this by spending focused time with each client, asking relevant questions, and discussing alternative ideas with the client.
At the beginning of the relationship, TFS meets with the new client, gathers information, performs research and analysis as necessary, and then develops an investment plan that is consistent with the client’s desired rate of return, time horizon and risk tolerance. This plan is based upon information provided by the client. TFS considers such factors as: ●the size and source of the account, ●client’s identity and background, ●the client’s income and growth objectives, ●income tax bracket, ●potential estate taxes, and ●the client’s relative risk aversion.
Investment objectives are established and recorded at this time. These objectives and other data are commonly revised or updated over time. TFS further assists its clients in implementing their investment plans by managing portfolios on a non-discretionary basis.
Throughout the relationship, TFS encourages and promotes regular dialogue with clients and with their other advisors, such as attorneys, accountants and other professionals. Selection of Other Advisers For certain clients, TFS provides investment advisory services in conjunction with third-party investment advisers. Before recommending other advisers for clients, TFS will always ensure those other advisers are properly licensed or registered as an investment adviser.
General Consulting Services From time to time clients may engage TFS to provide certain services that are more limited in scope than the services provided in the Comprehensive Wealth Management Service described above. Examples include cash flow analysis, social security filing strategies, evaluation of insurance needs, retirement and/or education planning, business valuation, and other similar services.
Investment Supervisory Services TFS offers ongoing portfolio management services based on the individual goals, objectives, time horizon, and risk tolerance of each client. TFS creates an Investment Policy Statement for each client, which outlines the client’s current situation (income, tax levels, and risk tolerance levels) and then constructs a plan to aid in the selection of a portfolio that matches each client’s specific situation. Investment Supervisory Services include, but are not limited to, the following:
•Investment strategy•Personal investment policy
•Asset allocation•Asset selection
•Risk tolerance•Regular portfolio monitoring
•Financial plan integration•Risk management TFS evaluates the current investments of each client with respect to their risk tolerance levels and time horizon. Risk tolerance levels are documented in the Investment Policy Statement, which is given to each client.
Services Limited to Specific Types of Investments TFS generally limits its investment advice and/or money management to institutional mutual

funds, equities, bonds, fixed income, ETFs, REITs, and government securities.
TFS may use other investments as well to help diversify a portfolio when applicable.
Buckingham Strategic Partners We have entered a co-advisory relationship with a third-party registered investment adviser, Buckingham Strategic Partners, LLC (“Buckingham”). Buckingham provides services that support the ongoing management of client accounts, transaction processing, order taking, reporting, portfolio rebalancing and billing in accordance with the agreement between the parties for a fee. Buckingham also manages client assets on a non-discretionary basis. We will conduct periodic due diligence of Buckingham regarding its services, fees charged, and registration requirements.
Tax Preparation Services We provide tax preparation and tax return filing services (the “Tax Services”) through one of our employees, who is an Enrolled Agent. Such Tax Services are generally separate from and in addition to the wealth management services described above.
C. Client Tailored Services and Client Imposed Restrictions TFS offers the same suite of services to all of its clients. However, specific client Comprehensive Financial Plans and their implementation are dependent upon the client’s individual needs and the Investment Policy Statement which outlines each client’s current situation (income, tax levels, and risk tolerance levels) and is used to construct a client specific plan to aid in the selection of a portfolio that matches restrictions, needs, and targets.
Clients may impose restrictions in investing in certain securities or types of securities in accordance with their values or beliefs. However, if the restrictions prevent TFS from properly servicing the client account, or if the restrictions would require TFS to deviate from its standard suite of services, TFS reserves the right to end the relationship. Clients are obligated to promptly notify TFS of any material changes in the client’s financial status, goals and objectives to ensure that TFS’s investment strategies continue to meet the client’s changing needs or to determine if there needs to be a change in the investment objectives and/or strategies. TFS will generally remind clients of this obligation on a regular basis. D. Wrap Fee Programs A wrap fee program is an investment program where the investor pays one stated fee that includes management fees, transaction costs, fund expenses, and any other administrative fees. TFS does not currently participate in any wrap fee programs, but reserves the right to do so.
E. ERISA Accounts 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 (“ERISA”) and/or the Internal Revenue Code (the “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); ●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.
F. Amounts Under Management TFS has the following assets under management: Discretionary Amounts: Non-Discretionary Amounts: Date Calculated: $0$118,681,48712/31/2022