A. Templeton Financial Services, Inc. (the “Registrant”) is a corporation formed on July 29,
2003 in the State of Arizona. The Registrant became registered as an Investment Adviser
Firm on October 2, 2003. The Registrant is owned by Joshua B. Johnson, the Registrant’s
President.
B. As discussed below, the Registrant offers to its clients (individuals, business entities, banks
or thrift institutions, pension and profit-sharing plans, trusts, estates and charitable
organizations, etc.) investment advisory services. The Registrant does not hold itself out
as providing financial planning and related consulting services.
INVESTMENT ADVISORY SERVICES
The client can determine to engage the Registrant to provide discretionary investment
advisory services on a fee-only basis. Registrant specializes in creating client portfolios
primarily comprised of Tax-Exempt or Taxable Municipal Securities. Registrant manages
client accounts with a focus on conservative income producing investments. Portfolio
weighting and duration targets will vary according to each individual client’s needs and
objectives. Registrant also invests in closed-end funds (CEF), and or high yield bonds that
generate tax-exempt/taxable income for those investors who are willing to take
some additional risk in order to receive higher levels of current tax-free income. Such
investments will be made only when consistent with the client’s stated tolerance for risk.
MISCELLANEOUS
Limited Consulting/Implementation Services. Although the Registrant does not hold
itself out as providing financial planning, estate planning or accounting services, to the
extent specifically requested by the client, the Registrant may provide limited consultation
services to its investment management clients on investment and non- investment related
matters, such as estate planning, tax planning, insurance, etc. Registrant shall not receive
any separate or additional fee for any such consultation services. Neither the Registrant,
nor any of its representatives, serves as an attorney, accountant, or licensed insurance agent,
and no portion of the Registrant’s services should be construed as same. To the extent
requested by a client, the Registrant may recommend the services of other professionals for
certain non-investment implementation purposes (i.e. attorneys, accountants, insurance
agent, etc.). The client is under no obligation to engage the services of any such
recommended professional. Please Note: If the client engages any such recommended
professional, and a dispute arises thereafter relative to such engagement, the client agrees
to
seek recourse exclusively from and against the engaged professional. Please Also Note:
It remains the client’s responsibility to promptly notify the Registrant if there is ever any
change in his/her/its financial situation or investment objectives for the purpose of
reviewing/evaluating/revising Registrant’s previous recommendations and/or services.
Trade Error Policy. Registrant shall reimburse accounts for losses resulting from the
Registrant’s trade errors but shall not credit accounts for such errors resulting in market
gains. The gains and losses are reconciled within the Registrant’s custodian firm account
and Registrant retains the net gains and losses.
Client Obligations. In performing its services, Registrant shall not be required to verify
any information received from the client or from the client’s other professionals and is
expressly authorized to rely thereon. Moreover, each client is advised that it remains
his/her/its responsibility to promptly notify the Registrant if there is ever any change in
his/her/its financial situation or investment objectives for the purpose of
reviewing/evaluating/revising Registrant’s previous recommendations and/or services.
Sub-Advisory Arrangements. The Registrant may serve as a sub-advisor to other
investment advisers. The Registrant’s Chief Compliance Officer, Joshua B. Johnson,
remains available to address any questions concerning the Registrant’s sub-advisory
arrangements.
Disclosure Statement. A copy of the Registrant’s written Brochure as set forth on Part 2A
of Form ADV shall be provided to each client prior to, or contemporaneously with, the
execution of the Investment Advisory Agreement. Any client who has not received a copy
of Registrant’s written Brochure at least 48 hours prior to executing the Investment
Advisory Agreement shall have five business days subsequent to executing the agreement
to terminate the Registrant’s services without penalty.
C. The Registrant shall provide investment advisory services specific to the needs of each
client. Prior to providing investment advisory services, an investment adviser representative
will ascertain each client’s investment objective(s). Thereafter, the Registrant shall allocate
and/or recommend that the client allocate investment assets consistent with the designated
investment objective(s). The client may, at anytime, impose reasonable restrictions, in
writing, on the Registrant’s services.
D. The Registrant does not participate in a wrap fee program.
E. As of February 29, 2024, the Registrant had $344,011,830 in assets under management on
a discretionary basis.