Description of the Firm
LFG Wealth Partners, LLC (“LFG” or “the Firm”) is a registered investment adviser based in Elizabethtown,
Kentucky, with a branch office in Louisville, Kentucky. LFG is organized as a limited liability company
(“LLC”) under the laws of the Commonwealth of Kentucky. LFG filed its initial application to become
registered as an investment adviser on May 3, 2024.
Justin Jenkins is LFG’s sole owner.
Description of Investment Advisory Services
LFG provides the investment advisory services described in this disclosure brochure through an
appropriately licensed and qualified individual who is an investment adviser representative (“IAR” or
“financial professional”). LFG provides personalized investment management services for clients seeking
a personalized approach to implementing an investment strategy designed to meet their goals and
objectives. LFG works with clients to understand their individual investment objectives, liquidity and cash
flow needs, time horizon and risk tolerance, as well as any other factors pertinent to their specific financial
situations. After an analysis of the relevant information, LFG assists clients in developing an appropriate
strategy for managing their assets and financial affairs. Client accounts are managed primarily on a
discretionary basis, but the firm can accommodate clients who prefer their assets be managed on a non-
discretionary basis.
At the beginning of LFG’s relationship with you, your financial professional will review your current
investment portfolio, obtain information necessary to understand your current and expected financial
situation, discuss with you your investment history, objectives, special interests, and risk tolerance, and
make recommendations regarding your portfolio.
LFG offers multiple types of advisory services designed to meet the unique needs of our clients. Below are
descriptions of the primary advisory services we offer. A written investment advisory services agreement
detailing the exact services we will provide to you and the fees you will be charged will be executed prior
to the commencement of any services.
Model Portfolios
LFG offers model portfolio selection services, which allows us to exercise discretion to implement a
specialized investment strategy that is managed either by LFG, a third-party portfolio provider (individually,
a “Strategist” and collectively “Strategists”), or a third-party investment manager (individually, a “Third-
Party Manager” and collectively “Third-Party Managers”). These models are approved by the LFG Chief
Investment Officer prior to being available and are reviewed on a periodic basis. After gathering and
reviewing information you provide, your financial professional will select the model portfolio(s) that align(s)
with your disclosed financial circumstances, risk tolerance, and investment objectives. LFG will exercise
its discretionary authority to implement the selected model portfolio(s) and to trade your account based on
information or signals provided by the manager(s) of the model portfolio(s). In some instances, we will
recommend a Third-Party Manager that has discretionary authority for the day-to-day management of the
assets allocated to it by LFG or by you in separately managed accounts. The Third-Party Manager will
directly trade the securities it selects for the account based on the applicable investment strategy. These
managers also consider each client’s investment objectives, financial situation, and reasonable restrictions
placed on the investment of the client’s assets when implementing the trades.
Model Portfolios: AE Wealth Management, LLC
LFG has entered into a relationship with AE Wealth Management, LLC (“AE Wealth
Management”) to provide services to the firm, including billing, trading, and reporting
services. This arrangement allows LFG to access model portfolios, model managers,
strategists, third party money managers, and trading services through AE Wealth
Management’s managed account program. As part of the AE Wealth Management program,
clients may give LFG and AE Wealth Management discretion to select third party, non-
affiliated investment managers to design and manage model portfolios for client assets.
LFG will be responsible for providing AE Wealth Management’s Firm Disclosure Brochure
to clients participating in this program. Clients should thoroughly review the document
regarding all disclosures, which may be material to a client regarding LFG's relationship to
the third-party advisor and how it may affect clients.
Model portfolios, whether created and managed by LFG or others, are designed for investors with varying
degrees of risk tolerance ranging from a more aggressive investment strategy to a more conservative
investment approach. Clients whose assets are invested in model portfolios may not set restrictions on the
specific holdings or allocations within the model or the types of securities that can be purchased in the
model. Nonetheless, clients may impose restrictions on investing in certain securities or types of securities
in their account. In such cases, this may prevent a client from investing in certain models.
We will be available to answer questions that you may have regarding your account. We will have the
ability to select the model portfolio(s) as well as the ability to reallocate funds from or to the model
portfolio(s) and funds in other accounts over which you have granted us discretionary authority. There may
be other model portfolios not recommended by our firm that are suitable for you and that may be less costly
than models recommended by our firm. No guarantees can be made that your financial goals or objectives
will be achieved through Model Portfolios or by a recommended or selected model portfolio. Further, no
guarantees of performance can ever be offered by our firm. Please refer to sections Methods of Analysis,
Investment Strategies and Risk of Loss of Item 8 – Methods of Analysis, Investment Strategies, and
Risk of Loss for more details.
Direct Asset Management Services
LFG can also individually select the securities held in your account on a discretionary basis. We will have
the ability to buy or sell securities on your behalf without your prior permission for each transaction. That
notwithstanding, you will have the ability to impose restrictions on the management of your account,
including the ability to instruct us not to purchase certain securities.
We will need to obtain certain information from you regarding your financial situation, investment
objectives, and risk tolerance so we may manage your account according to those factors. As part of this
process, your financial professional will gather and review information you provide. You will be responsible
for notifying us of any updates regarding your financial situation, investment objectives, and risk tolerance
and whether you wish to impose or modify any existing investment restrictions.
The financial situation, investment objectives, and risk tolerance for each LFG client is unique. As a result,
advice to another client or actions taken for them or for our personal accounts can differ from the advice
we provide to you or the actions we take for you. We are not obligated to buy, sell, or recommend to you
any security or other investment that we may buy, sell, or recommend for any other clients or for our own
accounts.
Conflicts can arise in the allocation of investment opportunities among accounts that we manage. We strive
to allocate investment opportunities believed to be appropriate for your account(s) and other accounts
advised by our firm among such accounts equitably and consistent with the best interests of all accounts
involved. But there can be no assurance that a particular investment opportunity that comes to our attention
will be allocated in any particular manner. If we obtain material, non-public information about a security or
its issuer, we may not lawfully use or disclose this information. We will also not allow our clients to use this
information.
ERISA Retirement Plan Services
The Employee Retirement Income Security Act of 1974 ("ERISA”) is the law governing the operation of
employee benefit plans. LFG provides investment advisory and consulting services to Plan Sponsors of
ERISA plans under Sections 3(21) and 3(38) of ERISA (“3(21) Service” and “3(38) Service,” respectively,
collectively the “Services”). When providing services to a Plan Sponsor, the Plan Sponsor is the client. We
provide services only to the Plan Sponsor or to the Plan Sponsor with respect to the Plan Sponsor’s
responsibilities to the Plan and not, as part of these services, to any Plan Participant(s). Services provided
to Plan Sponsors will be outlined in a separate written agreement between LFG and the Plan Sponsor.
Under the 3(21) Service, LFG acknowledges that, to the extent the services to a Plan subject to ERISA
constitute “investment advice” to the Plan for compensation, LFG will be deemed a “fiduciary” as such term
is defined under Section 3(21)(A)(ii). LFG provides ongoing investment monitoring and investment
recommendation services or other agreed upon services in the agreement with the Plan Sponsor.
Accordingly, we acknowledge our fiduciary status only with respect to the provision of services described
in the agreement. Under the 3(21) Service, LFG does not have investment discretion and does not have
the power to manage, acquire, or dispose of any plan assets and is not an “investment manager” as
defined
in Section 3(38) of ERISA. Additionally, the Plan Sponsor retains ultimate decision-making authority for the
investments and may accept or reject the recommendations of LFG under this service.
Under the 3(38) Service, the LFG Investment Committee selects a diverse line-up of investment options
across a range of asset classes to be offered to Plan Participants in accordance with Section 3(38) of
ERISA. The LFG Investment Committee provides asset allocation risk-based model portfolios for the Plan.
The LFG Investment Committee will manage the model portfolio development, construction, and
maintenance, and make updates as needed. Under the 3(38) Service, LFG’s IARs may provide general
enrollment and investment education to Plan Participants, but do not provide specific individualized
investment advice within the meaning of ERISA to Plan Participants with respect to their Plan assets.
Additionally, LFG offers the 3(38) Service to Plan Sponsors as a standalone service.
In accordance with Section 3(38) of ERISA, LFG has discretion to choose a “Qualified Default Investment
Alternative” (“QDIA”). A QDIA is a default investment option chosen by a plan fiduciary for Plan Participants
who fail to make an election regarding investment of their account balances. Unless unavailable with the
recordkeeper, LFG will utilize target-date asset allocation investment options for the 3(38) Services QDIA.
Under the 3(21) Services, LFG may recommend, but does not choose, a QDIA to the Plan Sponsor.
Under either Service, LFG may assist the Plan Sponsor with Plan Participant enrollment and Plan
education. If the services selected by the Plan Sponsor include enrollment and investment education to
Plan Participants, the services do not include any individualized investment advice within the meaning of
ERISA to Plan Participants with respect to their Plan assets. LFG does not select the recordkeeper, but
merely recommends the funds or investment vehicles offered by, or available through, the recordkeeper
selected by the Plan Sponsor. The Sponsor-chosen recordkeeper may require that their proprietary funds
be used for certain asset categories. It may limit the fund choices for plans of certain sizes. And it may not
credit the plan for certain fees that it receives from third parties. If you have questions about this, please
contact your Plan Sponsor or the Plan Recordkeeper. Additionally, as it pertains to these Services, LFG
does not offer qualified tax or legal advice. LFG does not hold itself out as a tax advisor and does not
provide such services, therefore LFG recommends consulting with a tax advisor if you have tax-related
questions.
Disclosure Regarding Rollover Recommendations
When you leave an employer, you typically have five options regarding your existing retirement plan: (i)
leave the money in the former employer’s plan, if permitted; (ii) roll over the assets to the new employer’s
plan, if one is available and rollovers are permitted; (iii) rollover to a brokerage (self-directed) Individual
Retirement Account (“IRA”); (iv) roll over the assets to an advisory IRA; or (v) cash out the account value
(which could, depending upon your age, result in adverse tax consequences). Clients contemplating rolling
over retirement funds to an IRA for LFG to manage are encouraged to first speak with their CPA or tax
attorney.
There is a financial incentive for your financial professional to recommend that you roll over your assets
into one or more accounts, because the enrollment will generate compensation based on the increase in
LFG’s total assets under management. We address these financial compensation conflicts by including
the disclosure of the conflicts in this brochure and by requiring your financial professional to recommend
investment advisory programs, investment securities, and services that are in the best interest of each
client based upon the client’s investment objectives, risk tolerance, financial situation, and cost, among
other factors. As fiduciaries of the Investment Advisers Act of 1940, we have to act in your best interest
and not put our interest ahead of yours. At the same time, the way LFG makes money creates some
conflicts with your interests. You are under no obligation, contractually or otherwise, to complete the
rollover. Furthermore, if you do complete the rollover, you are under no obligation to have the assets in an
account managed by us.
Tailor Advisory Services to Individual Needs of Clients
LFG’s advisory services are always provided based on your individual needs. Your financial professional
will assist you in determining your objective(s), investment strategy, and investment suitability prior and
subsequent to opening an asset management account. Accordingly, we will need to obtain certain
information from you to determine your financial situation, investment objectives, and risk tolerance. As
part of this process, your financial professional will assist you in completing a detailed client profile
questionnaire and review the information you provide. When we provide asset management services, you
are given the ability to impose restrictions on the accounts we manage for you, including specific
investment selections and sectors. You will be responsible for notifying us of any updates regarding your
financial situation, investment objectives, or risk tolerance and whether you wish to impose or modify any
existing investment restrictions.
We will not enter into an investment adviser relationship with a prospective client whose investment
objectives may be considered incompatible with our investment philosophy or strategies or where the
prospective client seeks to impose unduly restrictive investment guidelines.
Types of Investments
LFG primarily provides investment advice, based on the client’s stated goals and objectives, on various
types on investments including equity securities, exchange traded funds ("ETFs"), mutual funds, corporate
debt securities, municipal securities, United States government securities, mortgage securities, agency
securities, asset backed securities, and money market funds. The firm generally provides advice only on
the products previously listed, but reserves the right to offer advice on any investment product that may be
suitable for each client’s specific circumstances, needs, goals, and objectives.
Client Restrictions
Notwithstanding the foregoing, clients may impose certain written restrictions on us in the management of
their investment portfolios, such as prohibiting the inclusion of certain types of investments in an investment
portfolio or prohibiting the sale of certain investments held in the account at the commencement of the
relationship. Each client should note, however, that restrictions imposed by a client may adversely affect
the composition and performance of the client's investment portfolio. Each client should also note that his
or her investment portfolio is treated individually by giving consideration to each purchase or sale for the
client's account. For these and other reasons, performance of client investment portfolios within the same
investment objectives, goals, and risk tolerance may differ, and clients should not expect that the
composition or performance of their investment portfolios would necessarily be consistent with similar
clients of ours.
Nondiscretionary Accounts
Clients who choose a nondiscretionary arrangement must be contacted prior to the execution of any trade
in the account(s) under management. This may result in a delay in executing recommended trades, which
could adversely affect the performance of the portfolio. This delay also normally means the affected
account(s) will not be able to participate in block trades, a practice designed to enhance the execution
quality, timing, or cost for all accounts included in the block. In a non-discretionary arrangement, the client
retains the responsibility for the final decision on all actions taken with respect to the portfolio. You have
an unrestricted right to decline to implement any advice provided by our firm on a non-discretionary basis.
Participation in Wrap Fee Programs
A wrap fee is a fee an investor pays that includes management fees, transaction costs, fund expenses,
and other administrative fees. With the exception of clients’ 401(k) or 403(b) accounts, all LFG investment
advisory services client accounts will be participating in LFG’s wrap fee program. LFG will collect the fee
from the client as indicated in the Investment Advisory Agreement. LFG will then pay a portion of the fees
collected to AE Wealth Management or other service providers for services rendered. Therefore, you will
generally only pay fees based on assets under management, and in most circumstances you will not pay
a separate commission, ticket charge, or custodian fee for the execution of transactions in your account.
LFG and certain service providers, including the custodian and model portfolio manager (if applicable), will
receive a portion of the fee as compensation for services. Any favorable pricing LFG receives in these
arrangements is not passed along to the client. There are certain fees charged by the custodians that are
not included as part of the wrap pricing agreement. For more information on these fees, see Item 5 – Fees
and Compensation.
Assets Under Management
As of May 3, 2024, LFG provides continuous and regular supervisory management and oversight services
for $0 in client assets on a discretionary basis and $0 in client assets on a non-discretionary basis.