TFO is owned by TFO Partners, Inc. Mr. Christopher Erblich is the control person of TFO Partners, Inc.
TFO has been providing advisory services since October 2011.
As of December 31, 2023, TFO managed $3,810,701,750 on a discretionary basis, and $13,361,542 on a non-discretionary basis.
Investment Management Services: TFO manages investment portfolios for a wide variety of clients and their accounts, including individuals, qualified retirement plans, trusts, charitable organizations, small businesses and corporations. TFO will work with a client to determine the client's investment objectives and investor risk profile and generally will design a written investment portfolio summary. TFO uses a variety of tools, including investment and portfolio allocation software to evaluate alternative portfolio designs. TFO evaluates the client's existing investments with respect to the client's investment objectives. TFO works with new clients to develop a plan to transition from the client's existing portfolio to the desired portfolio. TFO will then regularly monitor the client's portfolio holdings and the overall asset allocation strategy and hold review meetings with the client regarding the account as necessary.
TFO will create a portfolio consistent with the client's investment objectives and will allocate the client's assets among various investments, taking into consideration the specific objectives and preferences of the client. TFO primarily creates portfolios consisting of no-load mutual funds, exchange traded funds (ETFs), and managed accounts of individual equities/bonds managed by third-party advisors. Client portfolios may also include some individual equity securities in situations where disposition of these securities would present an overriding tax implication or the client specifically requests they be retained for personal reasons. These situations will be specifically identified in the client's Investment Portfolio Summary ("IPS"), if one is utilized, or otherwise documented and may be designated as non-managed assets in certain cases. TFO manages portfolios on a discretionary, and in limited cases, on a non-discretionary basis, according to the desires of the client. A client may impose any reasonable restrictions on TFO's discretionary authority, including restrictions on the types of securities and specific securities to be used in the client's portfolio.
In certain circumstances, TFO may allocate a portion of a portfolio to an independent third-party investment advisor ("separate account manager") when appropriate for the client's circumstances and objectives, including, but not limited to, client account size, tax circumstances and type of investments. Upon the recognition of such situations, in coordination with the client, TFO may hire a separate account manager or enter into a tri-party agreement with the client and separate account manager for the management of those securities. In some cases, separate account managers may have entered into a sub-advisory agreement with TFO.
TFO will monitor the performance of the selected separate account manager(s). If TFO determines that a particular selected separate manager is not providing appropriate management services to the client, or is not managing the client's portfolio in a manner consistent with the client's personal investment guidelines or asset allocation, TFO will remove the client's assets from that selected separate account manager (if a discretionary account) or recommend the client remove assets from the manager (if a non-discretionary account). TFO may then recommend placing the client's assets with another investment manager. Clients may be required to execute documents to re-allocate assets amongst separate account managers. For non-discretionary accounts, TFO will make recommendations to the client as appropriate.
4 On an ongoing basis, TFO will answer clients' inquiries regarding their accounts and review the performance of their accounts periodically with clients. TFO will periodically review clients' investment objectives risk profile and discuss the re-balancing of each client's accounts to the extent appropriate. TFO will provide to the separate account manager any updated client financial information or account restrictions necessary for the manager to provide services.
In addition to managing the client's investment portfolio, TFO provides additional wealth management services to clients based on their unique circumstances and needs. Such services may include consulting with clients on various financial areas including income and estate tax planning, financial planning, business sale structures, college financial planning, retirement planning, insurance and risk management analysis, personal cash flow analysis, establishment and design of retirement plans and trust designs, among other things.
TFO often times reviews the adequacy of current life insurance, long-term care and disability coverage, help to determine future needs, and may recommend working with a third party provider that offers insurance products. Clients have no obligation to purchase any insurance products we recommend. Family Office Services: In addition to investment management services described above, TFO also provides Family Office services to select clients. These services may include some or all of the following: analysis of private investments, family governance consulting, philanthropic consulting, coordination among other service providers engaged by the client (legal, estate, tax, accounting, insurance and banking), coordination of cash management services, advice and reporting requested by the client. Family Office services are not offered to all TFO clients. TFO also provides additional non-investment advisory services to some clients as part of the Firm's Family Office Services. See Item 10 for additional information.
Family Office Advisory Consulting Services: TFO offers a combination of family office and advisory consulting services to select clients. These services may include some or all of the following: 1. Assist client in opening accounts as requested by the client; 2. Discuss with client investment options, 3. Implement with client's approval the investment program as outlined by the client; 4. Coordinate cash management matters with the client's personal banker or any other banking entity as directed by the client; 5. Assist client with accessing available

reports; 6. Providing to the client available financial reports and tax documents as requested by the client; 7. Assist in the coordination of estate and income tax planning with client's designated Estate and/or Tax Advisors Family Office Advisory Consulting services are not offered to all TFO clients. TFO also provides additional non-investment advisory services to some clients as part of the Firm's Family Office Services. See Item 10 for additional information. 5 Retirement Plan Services: TFO also provides advisory services to participant-directed employee retirement benefit plans. TFO's services may include, but are not limited to, one or more of the following: analysis of the plan's current investment platform, assisting the plan in creating an investment portfolio summary defining the types of investments to be offered and the restrictions that may be imposed, recommending and periodically reviewing the plan's investment options, specific investment advice to plan participants, coordinating with the plan's service providers to implement investment strategies, participant education and performance monitoring. In certain circumstances, TFO provides discretionary services where it will select and replace the plan's investment options as necessary.
The services are designed to assist plan sponsors in meeting their management and fiduciary obligations to Plan Participants under the Employee Retirement Income Securities Act ("ERISA"). Pursuant to adopted regulations of the U.S. Department of Labor under ERISA Section 408(b)(2), TFO is required to provide the Plan's responsible fiduciary (the person who has the authority to engage TFO as an investment adviser to the Plan) with a written statement of the services TFO provides to the Plan, the compensation TFO receives for providing those services, and TFO's status (which is described below). The services TFO provides to the Plan are described above and in the service agreement that the client signed with TFO. TFO's compensation for these services is described below, at Item 5, and in the service agreement. TFO may, with consent of the Plan, and in accordance with Plan documents, bill out of pocket expenses (such as overnight mailings, messenger fees, etc.) at cost. TFO does not reasonably expect to receive any other compensation, direct or indirect, for the services it provides to the Plan or Plan Participants.
In providing services to the Plan and Plan Participants, TFO's status is that of an investment adviser registered under the Investment Advisers Act of 1940, and TFO is not subject to any disqualifications under Section 411 of ERISA. In performing ERISA fiduciary services, TFO may act as either a non- discretionary fiduciary or a discretionary fiduciary of the Plan as both are defined in Section 3(21)(A). In some cases, TFO may act as a discretionary "investment manager" of the Plan as defined in Section 3(38) under ERISA.
Consulting Services: Clients can also receive financial advice on a more limited basis. This may include advice on an isolated area(s) of concern such as estate planning, retirement planning, reviewing a client's existing portfolio, tax compliance and planning, annuity advice or any other specific topic. TFO also provides specific consultation and administrative services regarding investment and financial concerns of the client. Dependent on the type of consulting services provided, there will be a conflict of interest due to the potential for the recommendation of TFO to provide additional services, such as investment advisory services or retirement plan services.
Educational Seminars and Workshops: TFO offers an educational program, TFO Life Academy, which includes topics on financial literacy. The program is generally offered to clients as a part of a package of other advisory services. TFO may also offer the program as a standalone service or part of a consulting package for a flat fee. Non-Investment Advisory Referrals: TFO has partnered with PinnacleCare, a health care concierge service provider to offer its clients access to PinnacleCare's services. TFO may refer clients in need of such service to PinnacleCare, and in such cases, will pay up to $1,000 of PinnacleCare's fees. TFO has also contracted with Gallagher Benefit Services to assist clients regarding health insurance questions/ help evaluating individual coverages or Medicare. TFO will pay all associated costs for all clients contracted within TFO's 6 agreement with Gallagher. TFO does not have any affiliation with either PinnacleCare or Gallagher Benefit Services nor does it receive any compensation for referrals. Clients are under no obligation to use PinnacleCare or Gallagher Benefit Services' services. 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.