Retirement Financial Group, LLC, dba (“RFG” and/or “the firm”) is a limited liability company formed in the State
of Texas. Erik Otha Morgan and Clark Calvin Shofner are the principal owner of RFG. RFG has been providing
investment advisory services since 2022.
The following paragraphs describe our services and fees. You may see the term Associated Person throughout
this Brochure. As used in this Brochure, this term refers to anyone from our firm who is an officer, employee, and
all individuals providing investment advice on behalf of our firm. Where required, such persons are properly
licensed or registered as investment adviser representatives.
Consulting Services
RFG offers various securities and non-securities related consulting services. These services are designed to assist
clients in the management of their financial resources. Services include the identification of financial goals and
objectives, collection and assessment of all relevant data, identification of financial problems and formulation of
solutions, and the preparation of financial plans in the form of specific verbal or written recommendations. The
services we provide will typically focus on one or more of the following areas:
• Cash Flow Analysis – Assessment of present financial situation by collecting information regarding net
worth and cash flow statements, tax returns, insurance policies, investment portfolios, pension plans,
employee benefit statements, etc. RFG advises on ways to reduce risk; and, to coordinate and organize
records and estate information.
• Retirement Analysis – Identification of long-term financial and personal goals and objectives including
advice for accumulating wealth for retirement income or appropriate distribution of assets following
retirement. Tax consequences and implications are identified and evaluated.
• Insurance Analysis – Includes risk management associated with advisory recommendations based on a
combination of insurance types to meet your needs, e.g., life, health, disability, and long-term care
insurance. This will necessitate an analysis of cash needs of the client’s family at death, income needs of
surviving dependents, and potential disability income needs.
• Portfolio Analysis/Investment Planning – Presentation of investment alternatives, including asset
allocation and its effect on the client’s portfolio; evaluation of economic and tax characteristics of
existing investments as well as their suitability for the client; and, identification and evaluation of tax
consequences and their implications.
• Education Savings Analysis – Alternatives and strategies with respect to the complete or partial funding
of college or other post-secondary education.
• Estate Analysis – Advising clients with respect to property ownership, distribution strategies, estate tax
reduction, and tax payment techniques.
• Tax Analysis and Planning – The goal of tax planning is to arrange your financial affairs to minimize your
taxes. There are three basic ways to reduce your taxes, and each basic method might have several
variations. You can reduce your income, increase your deductions, and take advantage of tax credits.
Consulting services are based on your financial situation and the financial information you provide to our firm. If
your financial situation, goals, objectives, or needs change, you must notify us promptly. You may choose to
accept or reject our recommendations. If you decide to proceed with our recommendations, you may do so either
through our firm or by using the advisory/brokerage firm of your choice.
In some cases, our recommendations will involve the purchase of insurance products. RFG is affiliated with
Retirement National, LLC, Erik Morgan, LLC and the Insurance Agency of Southeast Texas through common
ownership and control. These firms are licensed insurance agencies. In addition, Clark Shofner, one of RFG’s
principal owners, has a sole proprietorship insurance agency. Further, Associated Persons of RFG are licensed
insurance agents. These agencies and our dually licensed Associated Persons effect transactions in insurance
products and earn commission-based compensation for these activities. Clients should be aware that a conflict of
interest is inherent in such an arrangement. Clients are instructed that the fees paid to the firm for advisory
services are separate and distinct from the commissions earned by our affiliates and our dually licensed
Associated Persons. Clients of RFG are not required to purchase insurance products from any of the firm’s related
insurance agencies or dually licensed Associated Persons, and can purchase insurance products from any
insurance agency and agent they choose.
Note: Information related legal consequences that is provided as part of the financial plan is for informative
purposes only. Clients are instructed to contact their legal advisers for personalized advice.
Portfolio Management Services
Our firm offers discretionary, and in limited cases, non-discretionary portfolio management services to our clients.
Discretionary portfolio management means we will make investment decisions and place buy or sell orders in
your account
without contacting you prior to each transaction. These decisions would be made based upon your
stated investment objectives. If you wish, you may limit our discretionary authority by, for example, setting a limit
on the type of securities that can be purchased for your portfolio. Simply provide us with your restrictions or
guidelines in writing. Non-discretionary portfolio management service means that we must obtain your approval
prior to making any transactions in your account.
Our investment advice is tailored to meet our clients’ needs and investment objectives. If you decide to hire our
firm to assist you with the management of your portfolio, an Associated Person of RFG will meet with you and
gather information about your financial situation, investment objectives, and any reasonable restrictions you
would like to impose on the management of the account. The information we gather will help us implement an
asset allocation strategy that will be specific to your needs and goals.
Currently, our asset allocation and advisory services are offered in conjunction with a sub adviser. The sub adviser
assists our firm with back-office support, trading and billing. We use model portfolios developed by the sub
adviser and/or other registered investment advisers. These other investment advisers are responsible for the
research and security selection within model portfolios, day-to-day trading, billing calculation, and other back-
office operations. RFG is responsible for the supervision of the account, portfolio reallocations and rebalancing,
and ongoing client interaction and servicing. At this time, RFG primarily uses the following sub adviser:
Foundations Investment Advisors LLC (CRD# 175083): Foundations Investment Advisors LLC gives us access to its
proprietary portfolio models, along with models provided or managed by Cabana Asset Management, Frontier
Wealth Management, Morningstar Investment Management, BlackRock Solutions, among others. All disclosure
information about these entities is available on the SEC’s public disclosure site,
www.adviserinfo.sec.gov. All
clients will be provided with a current copy of Foundations Investment Advisors LLC’s Form ADV Part 2 Brochure
at the inception of service. This document provides important disclosures about Foundations Investment Advisors
LLC’s services, portfolio models, fees, conflicts of interest, disciplinary history (if any), and other important
information that would help clients understand the scope of sub advisory services provided by Foundations
Investment Advisors LLC.
All accounts are managed in accordance with the client’s investment needs. Investments may include various
types of securities such as equity securities, Exchange Traded Funds (ETFs), mutual funds, corporate debt
securities, commercial paper, certificates of deposit, municipal securities, structured notes, and U.S. Government
securities. Other types of investments may also be recommended where such investments are appropriate based
on the client’s stated goals and objectives.
Investments and allocations are determined and based upon the client’s predefined objectives, risk tolerance,
time horizon, financial horizon, financial information, and other various suitability factors. Further restrictions and
guidelines imposed by the client may affect the composition and performance of a client’s portfolio. For these
reasons, performance of the portfolio may not be identical to other clients of RFG. On an ongoing basis, RFG
reviews the client’s financial circumstances and investment objectives, and instructs the sub adviser to make the
necessary adjustments to the client’s portfolio.
Clients are advised to provide the firm with prompt notice of any changes in their personal financial
circumstances, investment objectives, goals, and tolerance for risk. However, RFG will contact the client at least
annually to determine whether there have been any changes in the client's personal financial circumstances,
investment objectives, and tolerance for risk.
Wrap Fee Programs
A wrap fee program combines asset management, advisory services, and trade execution for a single fee. We do
not sponsor or manage, or participate in any wrap fee programs. Our portfolio management fees are exclusive of,
and in addition to brokerage commissions, transaction fees, and other related costs and expenses, which will be
incurred by the client. However, we will not receive any portion of the commissions, fees, and costs. Please see
Item 5 below for information regarding additional fees and Item 12 below for further information on brokerage
practices, fees, and transaction costs.
Clients should note that recommended third party programs may be offered as wrap fee programs. For detailed
information regarding these programs, please carefully review the disclosure documents provided by the relevant
third-party sponsor/manager of such third-party programs.
Assets Under Management
As of December 31, 2023, Retirement Financial Group has $121,665,193 in discretionary client assets under
management.