A. Firm Information
U.S. Financial Advisors, LLC (referred to throughout this document as “U.S. Financial Advisors,” “USFA”, the “firm”,
“us,” and/or “we”), is an investment adviser registered with the United States Securities and Exchange Commission
(“SEC”) and is a limited liability company formed under the laws of the State of Delaware. USFA has been
registered as an investment adviser since October 1998. USFA is owned and controlled by Great Valley Advisor
Group, Inc.
USFA presently does business as Napier Financial. This rebranding does not reflect any change in ownership or
control of the firm.
B. Advisory Services Offered
USFA provides fee-based investment advisory and financial planning services to various types of clients,
including individuals and high-net-worth individuals (which include trusts and estates), and pension and profit
sharing plans, and business entities. The nature and extent of the specific services provided to clients will always
depend on each client’s financial status, objectives and needs, time horizons, concerns, expectations, and risk
tolerance.
Investment Management Services
For its discretionary asset management services, USFA receives a limited power of attorney to effect securities
transactions on behalf of its clients. Clients may grant USFA limited discretionary authority with respect to
advisory client assets, including discretion to select third-party managers on behalf of such USFA advisory
clients. Investment advisory services may be provided on a non-discretionary basis, depending on the agreement
between the client and USFA. USFA recommends securities transactions to its clients that include securities and
strategies as described in Item 8 of this Brochure.
In preparing the asset allocation, USFA will complete a Risk Tolerance Questionnaire with the client to analyze
each client's current investments, investment objectives, goals, age, time horizon, financial circumstances,
investment experience, investment restrictions and limitations, and risk tolerance to make appropriate asset
allocation recommendations and implementation decisions. USFA may engage third-party service providers to
assist with the tax and estate planning portion of the services provided to clients. In addition, USFA may utilize
third-party software to analyze individual security holdings and separate account managers utilized within the
client’s portfolio. USFA will monitor those portfolios and make additional recommendations from time to time to
rebalance and/or reallocate each client's investments.
USFA's investment advisory services to clients are either based on asset allocation models or are customized to
the individual clients’ personal and financial circumstances that take into account a client's personal financial
circumstances, investment objectives, and tolerance for risk (e.g., cash-flow, tax, and estate). USFA's
engagement with a client will include, as appropriate, the following:
• Providing assistance in reviewing the client's current investment portfolio against the client's personal
and financial circumstances as disclosed to USFA in response to a questionnaire and/or in discussions
with the client and reviewed in meetings with USFA.
• Analyzing the client's financial circumstances, investment holdings and strategy, and goals.
• Providing assistance in identifying a targeted asset allocation and portfolio design.
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• Implementing and/or recommending securities and strategies as described in Item 8 of this Brochure, each
matched to the asset categories in the client's targeted asset allocation for consideration by theclient.
• Reporting to the client at an agreed-upon interval, but no less frequently than annually, information on
contributions and withdrawals in the client's investment portfolio.
• Proposing changes in the client's targeted asset allocation in consideration of changes in the client's
personal circumstances, investment objectives and tolerance for risk, the performance record of any of
the client's investments, and/or the performance of any fund or manager retained by the client.
In addition to providing USFA with information regarding their personal financial circumstances, investment
objectives, and tolerance for risk, clients are required to provide USFA with any reasonable investment
restrictions that should be imposed on the management of their portfolio and to promptly notify USFA of any
changes in such restrictions or in the client's personal financial circumstances, investment objectives, goals, and
tolerance for risk. On a quarterly basis, USFA's reports to clients will remind clients of their obligation to inform
USFA of any such changes or any restrictions that should be imposed on the management of their accounts.
USFA will also contact clients at least annually to determine whether there have been any changes in their
personal financial circumstances, investment objectives, and tolerance for risk.
Investment Consulting Services
USFA provides investment consulting services in the form of oral advice and written recommendations. These
services are somewhat similar to investment management services, except that USFA does not implement any
recommendations nor does USFA have a continuing obligation to monitor these recommendation or holdings
beyond the date of the consultation. Clients signing up for this service must understand that the firm does not
provide ongoing reviews of accounts through this service and information about such accounts is limited to
information provided exclusively by the client. Clients have the sole discretion to accept or reject the firm’s
advice. The client must implement any trades themselves in such accounts because the firm will have no access
to client accounts.
Segmented Plans and Hourly Consultations: Segmented financial planning engagements are
frequently single topic or single goal minded. These are not comprehensive and not designed to be
integrated with all of the client’s other financial matters. Common segmented engagements include
investment reviews, retirement readiness reviews, risk reviews, estate planning, retirement planning,
business planning, education planning, social security planning, a review of an existing investment
portfolio, or other specific topic. USFA also provides specific consultation and administrative services
regarding investment and financial concerns of the client. Additionally, USFA provides advice on non-
securities matters, generally in connection with the rendering of estate planning, insurance, retirement
planning, and/or annuity advice. As many individuals of USFA may be registered as representatives of a
broker-dealer and as insurance agents/brokers of various insurance companies, implementation of
proposals could be limited to only those products for
which the individuals are licensed.
Personal Financial Checkup: USFA may offer investment advisory consulting services to clients in the
form of a personal financial “checkup.” The financial checkup is a brief review of the client’s entire
financial situation, with an objective of recognizing issues with cash flow, risk management plan,
investment plan, retirement plan, or estate plan that may need attention or warrant further review by the
client or some other professional. The purpose of the personal financial checkup is to provide a general
overview and analysis of the client’s current financial circumstance and is not intended to be a
comprehensive financial plan. Should more comprehensive financial planning be suggested and agreed
to by the client during the course of the personal financial checkup, the client will enter into a separate
agreement with USFA to provide any additional or more extensive personal financial consulting services
or a comprehensive financial plan.
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Qualified Plan Review: USFA may offer investment advisory consulting services to retirement plans
including pension, profit sharing, and 401(k) plans in the form of a qualified plan review. As part of the
qualified plan review, USFA may provide advice to qualified plan sponsors in the form of a review of the
plan document, plan limitations, contribution allocations, investment policy statements, employee
notifications, and compliance procedures. USFA may consult with the plan sponsor to determine the
plan's investment needs and goals and may assist the plan sponsor with developing an investment
policy statement. USFA may review various investments to determine whether the current investment
options are appropriate to implement the plan's investment policy statement. For pension, profit sharing,
and 401(k) plan clients where there are individual accounts with participants exercising control over
assets in their own accounts ("self- directed plans"), USFA may also provide educational support and
workshops designed for the plan participants. The nature of the topics to be covered will be determined
by USFA and the client under the guidelines established by ERISA Section 404(c).
Financial Planning Services
Comprehensive financial planning involves the review of the client’s cash flow and expenses, risk management
plan, investment plan, retirement plan, and estate plan with an objective of evaluating alternative strategies
integrated with other areas of the client’s financial life to help the client make decisions helpful toward his or her
stated goals. Comprehensive financial planning engagements will integrate with other professionals and
frequently involve matters of family governance and business continuity or succession planning.
Clients purchasing this service will receive a written financial plan providing a detailed plan designed to achieve
the client's stated financial goals and objectives.
In general, the financial plan will address any or all of the following areas of concern:
• Personal: Family records, budgeting, personal liability, estate information, identification and qualification
of financial goals.
• Taxes and Cash Flow: Income tax forecasts and planning, estate tax projections, spending analysis,
and planning for past, current, or future years. USFA may illustrate the impact of various investments
oranticipated life or financial events on a client's current income tax and future tax liability.
• Risk Management, Death and Disability: Cash needs at death, income needs of surviving dependents,
estate planning, disability income analysis, life insurance analysis, long-term care analysis, and a
general risk assessment.
• Retirement Planning: Analysis of current strategies and investment plans to help the client achieve
his/her retirement goals.
• Investment Management: Analysis of client’s current portfolio and investment alternatives. USFA
gathers information through in-depth personal interviews. Information gathered includes the client’s
current financial status, future goals, and attitude toward risk. Related documents supplied by the client
are carefully reviewed and a written report is prepared. Should the client choose to implement the
recommendations contained in the plan, USFA provides proposals to implement solutions by offering
investment and insurance products. Implementation of financial plan recommendations is entirely at the
client’s discretion.
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Recommendation of Separate Account Managers
USFA may refer clients to affiliated or unaffiliated separate account managers to manage all or a portion of the
client’s investment portfolio. In this regard, USFA provides advice with respect to the retention of separate
account managers as it relates to the client’s individual financial circumstances, risk tolerance, and investment
objectives. Upon selection of a separate account manager, the client will receive such account manager’s Form
ADV Part 2A and 2B brochures with their specific disclosure information.
Client-Tailored Services and Client-Imposed Restrictions
Each client’s account will be managed on the basis of the client’s financial situation and investment objectives,
and in accordance with any reasonable restrictions imposed by the client on the management of the account—for
example, restricting the type or amount of security to be purchased in the portfolio.
C. Client Account Management
Prior to engaging USFA to provide investment advisory services, each Client is required to enter into an
investment advisory agreement with the Advisor that defines the terms, conditions, authority and responsibilities
of the Advisor and the Client. These services may include:
• Establishing an Investment Strategy – USFA, in connection with the Client, may a strategy that seeks to
achieve the Client’s goals and destinations. The strategy is designed to address the Client’s personal
goals, investment goals, and both long-term and short-term objectives.
• Asset Allocation – USFA will develop a strategic asset allocation that is targeted to meet the investment
objectives, time horizon, financial situation and tolerance of risk for each Client.
• Portfolio Construction – USFA will develop a portfolio for the Client that is intended to meet the stated
goals and objectives of the Client.
• Investment Management and Supervision – USFA will provide investment management and
ongoing oversight of the Client’s relationship’s investment portfolio.
D. Assets Under Management
As of December 31, 2023, USFA manages the following assets:
Assets Under Management Assets
Discretionary Assets $348,574,644
Non-Discretionary Assets $0.00
Total $348,574,644
Clients may request more current information at any time by contacting the Advisor.
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