Manchester Financial, Inc. ("MFI" or "the firm") is a registered investment adviser founded in 1990 by Robert Katch, President and owner. The firm's main office is located in Westlake Village, California.
MFI offers portfolio management and financial planning services to its clients for a fee. MFI also offers limited consulting services to clients who desire advice in an isolated area of concern. Specific details about these advisory services are described below: Portfolio Management Services MFI provides individualized investment advice to clients based upon the client's specific needs. MFI gathers a client's financial data to develop a personalized profile that includes a client's investment objectives, current financial position, risk profile, investment time horizon, tax situation and liquidity needs. MFI reviews the client's personalized profile and based upon this review, develops a specific asset allocation strategy for the client. This asset allocation strategy takes into account the size of the client's portfolio as well as the cost to the client. With the client's approval, MFI then implements the recommended asset allocation and may sell or incorporate a client's existing holdings as appropriate. MFI does not limit its investment strategies to any specific type of investment vehicle. MFI generally recommends an investment allocation which may consist of stocks, bonds, exchange traded funds, mutual funds, structured-notes, or closed-end companies.
MFI maintains several asset-allocation models that may be used to achieve the client's objectives. While each client account is separately maintained at a third-party custodian and each client retains his or her right of ownership over the account, client accounts with similar risk profiles and objectives may utilize similar investments based on these models.
Financial Planning Services & Portfolio Management In many cases, clients choose to engage MFI for comprehensive financial planning services in addition to portfolio management services. The financial planning process typically takes several weeks and includes personal consultations regarding budget expectations, short- and long-term goals, investment objectives, time horizons, current financial situation, tax, estate, insurance & liquidity needs. MFI encourages clients to avail themselves of these services as it better informs the portfolio management process and provides the client a framework to improve financial decisions and analyze various scenarios.
Consulting Services In some cases, clients may choose to engage MFI for more limited consulting services. These services typically involve financial planning consultation on a specific or isolated area of concern. Consulting services will generally not include ongoing portfolio management and will be more limited in focus. Consulting services are based on a client's financial situation at the time services are rendered, and on the financial information provided by the client. A client should promptly notify MFI if any financial situation, goals, objectives, or needs change while services are being rendered. A client is under no obligation to act on any recommendations made during a consulting engagement and may implement our recommendations through any firm of their choice.
Rollover Recommendations Effective December 20, 2021 (or such later date as the US Department of Labor ("DOL") Field Assistance Bulletin 2018-02 ceases to be in effect), for purposes of complying with the DOL's Prohibited Transaction Exemption 2020-02 ("PTE 2020-02") where applicable, MFI is providing the following acknowledgment to you. When MFI provides investment advice to you regarding your 4 retirement plan account or individual retirement account, we are fiduciaries 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 MFI makes 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.
MFI benefits financially from the rollover of your assets from a retirement account to an account that we manage or provide investment advice, because the assets increase our assets under management and, in turn, our advisory fees. As a fiduciary, we only recommend a rollover when we believe it is in your best interest.
General Information Regarding Investment Advice MFI provides its portfolio management services on a discretionary basis, with limited power of attorney.
If a client participates in MFI's discretionary portfolio management services, the client must grant MFI discretionary authority to manage their account. Subject to this grant of discretionary authorization, MFI will have the authority and responsibility to formulate investment strategies on a client's behalf. Discretionary authorization will allow MFI to determine the specific securities, and the amount of securities, to be purchased or sold for a client's account without obtaining client approval prior to each transaction. MFI will also have discretion over the broker or dealer to be used for securities transactions in the client's account. Discretionary authority is typically granted by the investment advisory agreement a client signs with MFI, a limited power of attorney, or trading authorization forms.
A client may place restrictions on MFI's discretionary authority. Examples would include limiting the types of securities that can be purchased or sold for an account or restrict the sale of an investment or specify the purchase of an investment. Such restrictions and guidelines should be provided in writing.
MFI may determine that clients could benefit from investment in certain private offerings and alternative investments, and may recommend clients consider specific investments in annuities, limited partnerships, LLCs, REITs, hedge-funds, or other private offerings, including non-publicly traded investments which are illiquid, involve a high degree of risk, or where no readily ascertainable market value exists. If the client chooses to invest, the client will receive separate offering documents prepared by the third-party that explain the risks, services, fees, compensation and termination procedures for their offering. Use of a third-party may cost the client more or less than purchasing these services separately. Clients are under no obligation to engage these services. Clients should read these offering materials carefully. MFI may also provide advice on other investments and services not listed above, as appropriate for the specific client. Clients should be aware that all investments involve risk, including the possible loss of all or part of an investment. Clients who elect to invest must be willing to bear this risk. For this reason, MFI takes extra care to determine an appropriate risk tolerance for each client. Investment recommendations are made with this risk tolerance in mind. MFI in no way represents, warrants, or guarantees the future results of any investments.
5 Assets Under Management As of December 31, 2023, MFI was providing investment advisory services to 2,304 client accounts. The total value of assets under management for which the firm was providing regular and continuous discretionary portfolio management services was $854,587,885.