UFA will serve the financial needs of clients seeking personal, comprehensive financial planning and
investment management services from advisors with experience. Prior to UFA providing investment
advisory services, clients are required to enter into one or more written agreements with UFA setting forth
the relevant terms and conditions of the advisory relationship (the “Advisory Agreement”).
The Firm is equally owned by A. Larry Lock, CLU®,
ChFC® and Brian C. Lock, CFP®. As of February 19,
2024, UFA has $202,089,992 of discretionary assets under management, $0 non-discretionary assets under
management and assets under advisement1 of $8,130,595, for total assets under management are
$210,220,587.
While this Disclosure Brochure generally describes our business, certain sections also discuss the activities
of its Supervised Persons, which refer to the Firm’s officers, partners, directors (or other persons occupying
a similar status or performing similar functions), employees or any other person who provides investment
advice on our behalf (collectively referred to as investment adviser representatives or “IARs” and are
subject to the Firm’s supervision or control.
UFA's IARs may market under the UFA brand or under a business name of their choosing. When marketing
under a business name other than UFA, an IAR will distinguish between business done by UFA and other,
non-UFA, business lines in which an IAR may engage.
IARs may have their own legal business entities. The client should understand that the businesses are legal
entities of the IAR and not of UFA. Additionally, the business entity may provide services other than as an
IAR of UFA. However, Investment Advisory Services of the IARs are provided through UFA.
Financial Planning and Consulting Services
UFA offers clients a broad range of financial planning and consulting services, which may include any or
all of the following functions:
• Business Planning
• Cash Flow Forecasting
• Trust and Estate Planning
• Financial Reporting
•
Investment Consulting
•
Insurance Planning
• Retirement Planning
• Risk Management
• Charitable Giving
• Distribution Planning
•
Tax Planning
•
Manager Due Diligence
1 Assets under advisement represent assets in which we provide consulting services and for which we have neither
discretionary authority, the ability to arrange or effect the purchase or sale of recommendations provided to and
accepted by the ultimate client, or the authority to hire or fire recommended third party managers without client
consent. Inclusion of these assets will make our total assets number different from assets under management disclosed
in Item 5.F of our Form ADV Part 1A due to specific calculation instructions for Regulatory Assets Under
Management.
In performing these services, we are not required to verify any information received from the client or from
the client’s other professionals (e.g., attorneys, accountants, etc.,) and are authorized to rely on such
information. We may recommend clients engage the Firm for additional related services, and our IARs in
their individual capacities as insurance agents or registered representatives of a broker-dealer may
implement their recommendations. Clients are advised that a conflict of interest exists if clients engage us
to provide additional services for compensation. Clients retain absolute discretion over all decisions
regarding implementation and are under no obligation to act upon any of the recommendations made by us
under a financial planning or consulting engagement. Clients are advised that it remains their responsibility
to promptly notify the Firm of any change in their financial situation or investment objectives for the
purpose of reviewing, evaluating, or revising our recommendations and/or services.
Investment and Wealth Management Services
We manage client investment portfolios on a discretionary basis and primarily allocate client assets among
various mutual funds, exchange-traded funds (“ETFs”), individual debt and equity securities, options, and
occasionally independent investment managers (“Independent Managers”) in accordance with their stated
investment objectives.
Where appropriate, IARs may also provide advice about any type of legacy position or other investment
held in client portfolios. Clients may engage us to manage and/or advise on certain investment products
that are not maintained at their primary custodian, such as variable life insurance and annuity contracts and
assets held in employer sponsored retirement plans and qualified tuition plans (i.e., 529 plans). In these
situations, we direct or recommend the allocation of client assets among the various investment options
available within the product. These assets are generally maintained at the underwriting insurance company,
or the custodian designated by the product’s provider.
We tailor our advisory services to meet the needs of our individual clients and seek to ensure, on a
continuous basis, that client portfolios are managed in a manner consistent with the client’s stated needs
and objectives. We consult with clients on an initial and ongoing basis to
assess their specific risk tolerance,
time horizon, liquidity constraints and other related factors relevant to the management of their portfolios.
Clients are advised to promptly notify us if there are changes in their financial situation or if they wish to
place any limitations on the management of their portfolios. Clients may impose reasonable restrictions or
mandates on the management of their accounts if we determine, in our sole discretion, the conditions would
not materially impact the performance of a management strategy or prove overly burdensome to the Firm’s
management efforts.
Retirement Plan Consulting Services
We provide various consulting services to qualified employee benefit plans and their fiduciaries. This suite
of institutional services is designed to assist plan sponsors in structuring, managing, and optimizing their
corporate retirement plans. Each engagement is individually negotiated and customized, and may include
any or all of the following services:
• Plan Design and Strategy
• Plan Review and Evaluation
• Executive Planning & Benefits
•
Investment Selection
• Plan Fee and Cost Analysis
• Plan Committee Consultation
• Fiduciary and Compliance
•
Participant Education
As disclosed in the Advisory Agreement, certain of the foregoing services are provided by us as a fiduciary
under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). In accordance with
ERISA Section 408(b)(2), each plan sponsor is provided with a written description of our fiduciary status,
the specific services to be rendered and all direct and indirect compensation the Firm reasonably expects
under the engagement.
In addition, when we regularly provide investment advice regarding a client’s individual retirement plan
account or individual retirement account, we are fiduciaries within the meaning of Title 1 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 of interest, so we operate under a
special rule created by the Department of Labor (the “DOL”), that requires us to act in your best interest
and not put our interest ahead of yours.
Retirement Account Recommendations
For the purpose of complying with the DOL's Prohibited Transaction Exemption 2020-02 ("PTE 2020-02"),
when applicable, UFA is providing the following acknowledgment to clients. When UFA provides
investment advice to clients regarding their retirement plan account or individual retirement account, UFA
is a fiduciary 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 UFA makes
money creates some conflicts with the clients’ interests, so UFA operates under an exemption that requires
UFA to act in the clients’ best interest and not put UFA’s interests ahead of the clients. Under this
exemption, UFA must:
1. Meet a professional standard of care when making investment recommendations (give prudent
advice),
2. Never put UFA’s financial interests ahead of the clients when making recommendations (give loyal
advice),
3. Avoid misleading statements about conflicts of interest, fees, and investments,
4. Follow policies and procedures designed to ensure that UFA gives advice that is in the clients’ best
interest,
5. Charge no more than is reasonable for UFA’s services, and
6. Give the clients basic information about conflicts of interest.
UFA benefits financially from the rollover of the clients’ assets from a retirement account to an account
that UFA manages or provides investment advice, because the assets increase UFA’s assets under
management and, in turn, UFA’s advisory fees. As a fiduciary, UFA only recommends a rollover or
retirement account when UFA believes it is in the clients’ best interest.
Wrap Fee Program
We offer a Wrap Fee Account which is administered through a clearing broker/dealer, Charles Schwab &
Co., Inc. The Wrap Fee Program is designed to assist you in clarifying your investment needs and obtaining
professional asset management for a convenient single "wrap" fee on a discretionary or non-discretionary
basis. Under the Wrap Fee Program, an inclusive fee covers account management, brokerage, clearance,
custody, and administrative services. We will receive a portion of the WRAP fee for our services.
We typically manage wrap accounts similarly to non-wrap accounts. However, several factors may
influence the selection of the account structure, including but not limited to:
1. The client’s preference for a “wrap” vs. transaction charges per trade on certain or all securities.
2. Account size.
3. Anticipated trading frequency.
4. Anticipated securities to be traded.
5. Management style.
6. Long term investment goals.
The overall cost you will incur if you participate in a wrap fee program may be higher or lower than you
might incur by paying transaction costs separately. To compare the cost of the wrap fee program with non-
wrap fee portfolio management services, you should consider the frequency of trading activity associated
with our investment strategies, the transaction charges involved, and the advisory fees charged.