Hager Investment Management Services, LLC. (“HIMS” or the “Firm”) has been in business since January 1,
2001. Andrew Hager, and his father, Peter Hager, are the managing partners and principal owners of the Firm.
INVESTMENT MANAGEMENT
HIMS offers asset management services to advisory Clients. HIMS will offer Clients ongoing asset management
services through determining individual investment goals, time horizons, objectives, and risk tolerance.
Investment strategies, investment selection, asset allocation, portfolio monitoring, and the overall investment
program will be based on the above factors.
Discretionary
When the Client elects to use HIMS on a discretionary basis, the Client will sign a limited trading
authorization or equivalent allowing HIMS to determine the securities to be bought or sold and the
amount of the securities to be bought or sold. HIMS will have the authority to execute transactions in
the account without seeking Client approval on each transaction.
Non-Discretionary
When the Client elects to use HIMS on a non-discretionary basis, HIMS will determine the securities to
be bought or sold and the amount of the securities to be bought or sold. However, HIMS will obtain
prior Client approval on each and every transaction before executing any transaction.
FINANCIAL PLANNING AND CONSULTING
Financial planning services include an evaluation of a Client's current and future financial state and will be
provided by using currently known variables to predict future cash flows, asset values, and withdrawal plans.
HIMS will use current net worth, tax liabilities, asset allocation, and future retirement and estate plans in
developing financial plans. Topics generally reviewed in a financial plan may include but are not limited to:
• Financial goals: Based on an individual's or a family's clearly defined financial goals, including funding
a college education for the children, buying a larger home, starting a business, retiring on time, or
leaving a legacy. Financial goals should be quantified and set to milestones for tracking.
• Personal net worth statement: A snapshot of assets and liabilities serves as a benchmark for
measuring progress towards financial goals.
• Cash flow analysis: An income and spending plan determines how much can be set aside for debt
repayment, savings, and investing each month.
• Retirement strategy: A strategy for achieving retirement independent of other financial priorities.
Including a strategy for accumulating the required retirement capital and its planned lifetime
distribution.
• Comprehensive risk management plan: Identify all risk exposures and provide the necessary
coverage to protect the family and its assets against financial loss. The risk management plan includes
a full review of life and disability insurance, personal liability coverage, property and casualty
coverage, and catastrophic coverage.
• Long-term investment plan: Include a customized asset allocation strategy based on specific
investment objectives and a risk profile. This investment plan sets guidelines for selecting, buying, and
selling investments and establishing benchmarks for performance review.
• Tax reduction strategy: Identify ways to minimize taxes on personal income to the extent permissible
by the tax code. The strategy should include the identification of tax-favored investment vehicles that
can reduce the taxation of investment income.
• Estate preservation: Help update accounts, review beneficiaries for retirement accounts and life
insurance, provide a second look at your current estate planning documents, and prompt you to update
your plan when the legal environment changes or you have major life events such as a marriage, death,
or births.
If a conflict of interest exists between the interests of HIMS and the interests of the Client, the Client is under
no obligation to act upon HIMS’s recommendation. If the Client elects to act on any of the recommendations,
the Client is under no obligation to affect the transaction through HIMS. Financial plans will be completed and
delivered within ninety (90) days, contingent upon timely delivery of all required documentation.
ERISA PLAN SERVICES
HIMS offers service to qualified and non-qualified retirement plans, including 401(k) plans, 403(b) plans,
pension, and profit-sharing plans, cash balance plans, and deferred compensation plans. HIMS may act as a
3(21):
Limited Scope ERISA 3(21) Fiduciary. HIMS acts as a limited-scope ERISA 3(21) fiduciary that can advise,
help, and assist plan sponsors with their investment decisions. As an investment advisor, HIMS has a
fiduciary duty to act in the best interest of the Client. The plan sponsor is still ultimately responsible for
the decisions made in their plan, though using HIMS can help the plan sponsor delegate liability by
following a diligent process.
1. Fiduciary Services are:
• Provide investment advice to the Client about asset classes and investment alternatives available
for the Plan in accordance with the Plan’s investment policies and objectives. Clients will make the
final decision regarding the initial selection, retention, removal, and addition of investment
options. HIMS acknowledges that it is a fiduciary as defined in ERISA section 3 (21) (A) (ii).
• Provide investment advice to the Plan Sponsor with respect to the selection of a qualified default
investment alternative for participants who are automatically enrolled in the Plan or who have
otherwise failed to make investment elections. The Client retains the sole responsibility to provide
all notices to the Plan participants required under ERISA Section 404(c) (5) and 404(a)-5.
• Assist in monitoring investment options by preparing periodic investment reports that document
investment performance, consistency of fund management, and conformance to the guidelines set
forth in the IPS and make recommendations to maintain, remove or replace investment options.
• Meet with the Client on a periodic basis to discuss the reports and the investment
recommendations.
2. Non-fiduciary Services are:
• Assist in the education of Plan participants about general investment information and the
investment alternatives available to them under the Plan. Client understands HIMS’ assistance in
the education of the Plan participants shall be consistent with and within the scope of the
Department of Labor’s definition of investment education (Department of Labor Interpretive
Bulletin 96-1). As such, HIMS is not providing fiduciary advice as defined by ERISA 3(21)(A)(ii) to
the Plan participants. HIMS will not provide investment advice concerning the prudence of any
investment option or combination of investment options for a particular participant or beneficiary
under the Plan.
• Assist in the group enrollment meetings designed to increase retirement plan participation among
the employees and investment and financial understanding by the employees.
HIMS may provide these services or, alternatively, may arrange for the Plan’s other providers to offer
these services, as agreed upon between HIMS and Client.
3. HIMS has no responsibility to provide services related to the following types of assets (“Excluded
Assets”):
• Employer securities;
• Real estate (except for real estate funds or publicly traded REITs);
• Stock brokerage accounts or mutual fund windows;
• Participant loans;
• Non-publicly traded partnership interests;
• Other non-publicly traded securities or property (other than collective trusts and similar vehicles);
or
• Other hard-to-value or illiquid securities or property.
Excluded Assets will not be included in the calculation of Fees paid to HIMS on the ERISA Agreement.
Specific services will be outlined in detail to each plan in the 408(b)2 disclosure.
Client-Tailored Services and Client-Imposed Restrictions
The goals and objectives for each Client are documented in our Client files. Investment strategies are created
that reflect the stated goals and objectives. Clients may impose restrictions on investing in certain securities
or types of securities. These restrictions may, however, prohibit engagement with HIMS.
As of December 31, 2022, HIMS’s total assets under management were $104,360,426. Of that total,
$98,790,491 were managed on a discretionary basis, while $5,569,935 were managed on a non-discretionary
basis.