Description of Firm Envoi, LLC (Envoi) is a registered investment adviser based in Minneapolis, MN. We are organized as a limited liability company ("LLC") under the laws of the State of MN. We have been providing investment advisory services since 02/05/2009. We are owned by our Founders Brenda Sallstrom, James Sand and Ryan Steensland.
The following paragraphs describe our services and fees. Refer to the description of each investment advisory service listed below for information on how we tailor our advisory services to your individual needs. As used in this brochure, the words "we," "our," and "us" refer to Envoi, LLC and the words "you," "your," and "client" refer to you as either a client or prospective client of our firm.
Envoi is a family office in the business of providing advice to families with multi-generational wealth to assist them in building and managing their net worth. Envoi uses a rigorous, disciplined, and transparent process to construct a strategy that is tailored to each family's financial situation. Envoi collaborates with client families' advisory teams as directed by its clients, often coordinating the information flow among attorneys, accountants, insurance advisors and others. Envoi believes this collaboration facilitates the development of solutions that are customized to the challenges and opportunities faced by its clients.
Envoi is committed to providing independent, objective, and sophisticated wealth counsel without the inherent conflicts of interest associated with offering both advice and proprietary investment and financial solutions to client families. As an advocate for client families, Envoi sources all investment and financial solutions from third party providers.
Envoi is engaged by its client families to manage the interaction of their balance sheet, investment strategy and multi-generational financial plan. As such, Envoi provides an array of services to its client families, including centralized financial planning and management, cash flow budgeting and expense management, investment management, coordination of information flow among trustees and critical advisors, income and estate tax planning, risk management and wealth transfer planning, oversight and administration of the client family's custodial relationship, financial education of young adults within the family, and management of client families' charitable organizations. Investment management services provided by Envoi include identifying investment assets, formulating portfolio strategy, developing an asset allocation plan, selecting investment products, and ongoing monitoring and performance evaluation.
Envoi provides services to high net worth individuals; legal entities established for the benefit of high net worth individuals, including revocable and irrevocable trusts, family corporations, family limited liability companies, and family limited partnerships; and charitable organizations established by client families. Envoi has direct contractual relationships with clients.
Portfolio Management Services We offer discretionary portfolio management services. Our investment advice is tailored to meet our clients' needs and investment objectives.
If you participate in our discretionary portfolio management services, we require you to grant us discretionary authority to manage your account. Subject to a grant of discretionary

authorization, we have the authority and responsibility to formulate investment strategies on your behalf. Discretionary authorization will allow us to determine the specific securities, and the amount of securities, to be purchased or sold for your account without obtaining your approval prior to each transaction. We will 4 also have discretion over the broker or dealer to be used for securities transactions, and over the commission rates to be paid. Discretionary authority is typically granted by the investment advisory agreement you sign with our firm, a power of attorney, or trading authorization forms.
You may limit our discretionary authority (for example, limiting the types of securities that can be purchased or sold for your account) by providing our firm with your restrictions and guidelines in writing.
As part of our portfolio management services, we may use one or more sub-advisers to manage a portion of your account on a discretionary basis. The sub-adviser(s) may use one or more of their model portfolios to manage your account. We will regularly monitor the performance of your accounts managed by sub-adviser(s), and may hire and fire any sub-adviser without your prior approval. We may pay a portion of our advisory fee to the sub-adviser(s) we use; however, you will not pay our firm a higher advisory fee as a result of any sub-advisory relationships.
Wrap Fee Programs We do not participate in any wrap fee program.
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, we are providing the following acknowledgment to you.
When we provide investment advice to you regarding your 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 we make 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. We benefit 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.
Assets Under Management As of December 31, 2023, Envoi provided continuous management services for $2.84 billion in client assets under management, all of which are managed on a discretionary basis.
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