Good Life Advisors participates in advisory programs as portfolio manager, advisor, co-advisor, or
promoter depending on the program and depending on the needs or direction of its clients. Clients should
discuss with the IAR responsible for their account what roles are appropriate, and what programs are
appropriate for their investment objectives and risk tolerances.
LPL Financial will be the primary custodian, however Good Life Advisors participates in advisory programs
sponsored by other qualifying custodians including, TD Ameritrade, Aspire and SEI Private Trust
Company.
LPL Financial Sponsored Platforms
Strategic Wealth Management (SWM I and SWM II)
Strategic Wealth Management is the name of the custodial account offered through LPL to support
investment advisory services provided by Good Life Advisors. Within a SWM account, investment advisor
representatives provide advice on the purchase and sale of various types of investments, such as loan and
load waived mutual funds, stocks, bonds, exchange-traded funds (“ETFs”), UITs, alternative investments
options. Fee-based variable annuities are also available. The advice is tailored to the individual needs of
the client based on the investment objective chosen by the client in order to help assist clients in attempting
to meet their financial goals.
Investment Advisors Representatives can offer SWM I or SWM II. The accounts offer the same investment
choices and are managed in the same manner, but the fee structure is different. For SWM I, clients are
charged transaction fees in addition to the advisory fee whereas for SWM II, the transactions fees are
absorbed as part of the advisory fee.
Wrap Fee Program
Good Life Advisors offers SWM II as a wrap fee program where the firm acts as the sponsor and
portfolio manager.
o A wrap fee program is a comprehensive advisory account with a single fee that covers a
bundle of services, such as, portfolio management, advice, and investment research as well as
trade execution, custody, and reporting fee.
o Please see Appendix 1 –Wrap Fee Program Brochure, which is included as a supplement to
this Disclosure Brochure. The advisory fee for SWM II accounts may be higher than SWM I to
account for the transaction fees.
Depending on the anticipated level of trading, investment advisor representatives of Good Life Advisors will
work with each client to determine the most cost-effective fee structure.
Manager Access Select Program (MAS)
Manager Access Select provides clients access to the investment advisory services of professional
portfolio management firms for the individual management of client accounts. Investment advisor
representative will assist client in identifying a third-party portfolio manager (Portfolio Manager) from a list
of Portfolio Managers made available by LPL. The Portfolio Manager manages client’s assets on a
discretionary basis. Advisor will provide initial and ongoing assistance regarding the Portfolio Manager
selection process.
A minimum account value of $50,000 is required for Manager Access Select, however, in certain instances,
the minimum account size may be lower or higher.
Optimum Market Portfolios Program (OMP)
OMP offers clients the ability to participate in a professionally managed asset allocation program using
Optimum Funds shares. Under OMP, client will authorize LPL on a discretionary basis to purchase and
sell Optimum Funds pursuant to investment objectives chosen by the client. Investment advisor
representative will assist the client in determining the suitability of OMP for the client and assist the client in
setting an appropriate investment objective. Investment advisor representative will have discretion to
select a mutual fund asset allocation portfolio designed by LPL consistent with the client’s investment
objective. LPL will have discretion to purchase and sell Optimum Funds pursuant to the portfolio selected
for the client. LPL will also have authority to rebalance the account.
A minimum account value of $10,000 is required for OMP. In certain instances, LPL will permit a lower
minimum account size.
Model Wealth Portfolios Program (MWP)
MWP offers clients a professionally managed mutual fund asset allocation program. Good Life Advisors
will obtain the necessary financial data from the client, assist the client in determining the suitability of the
MWP program and assist the client in setting an appropriate investment objective. The investment advisor
representative will initiate the steps necessary to open an MWP account and have discretion to select a
model portfolio designed by LPL’s Research Department consistent with the client’s stated investment
objective. LPL’s Research Department or third-party portfolio strategists are responsible for selecting the
mutual funds or ETFs within a model portfolio and for making changes to the mutual funds or ETFs
selected.
The client will authorize LPL to act on a discretionary basis to purchase and sell mutual funds and ETFs
and to liquidate previously purchased securities. The client will also authorize LPL to effect rebalancing for
MWP accounts.
MWP requires a minimum asset value for a program account to be managed. The minimums vary
depending on the portfolio(s) selected and the account’s allocation amongst portfolios. The lowest
minimum for a portfolio is $10,000. In certain instances, a lower minimum for a portfolio is permitted.
Small Market Solution (SMS) Program
Under SMS, LPL Research (a team of investment professionals within LPL) creates and maintains a series
of different investment menus (“Investment Menus”) consisting of a mix of different asset classes and
investment vehicles (“investment options”) for clients that sponsor and maintain participant-directed defined
contribution plans (“Plan Sponsors”). The Plan Sponsor is responsible for selecting the Investment Menu
that it believes is appropriate based on the demographics and other characteristics of the Plan and its
participants. LPL Research is responsible for the selection and monitoring of the investment options made
available through Investment Menus (“Fiduciary Selection Services”). The investment options that are
offered through SMS are limited to the specific investments available through the record keeper that the
Plan Sponsor selects. The Plan Sponsor may only select an Investment Menu in its entirety and does not
have the option to remove or substitute an investment option.
If the Plan is subject to ERISA, LPL will be a “fiduciary” and serve as “investment manager” (as that term is
defined in section 3(38) of ERISA) in connection with the Fiduciary Selection Services. None of the
services offered under SMS other than the Fiduciary Selection Services will constitute “investment advice”
under 3(21)(A)(ii) of ERISA, or otherwise cause LPL or Good Life Advisors to be deemed a fiduciary.
In addition to the Fiduciary Selection Services, Plan Sponsor may also select from a number of non-
fiduciary consulting services available under SMS that are provided by Good Life Advisors. These
consulting services may include, but are not limited to general education, and support regarding the Plan
and the investment options selected by Plan Sponsor; assistance regarding the selection of, and ongoing
relationship management for, record keepers and other third-party vendors; Plan participant enrollment
support; and participant-level education regarding investment in the Plan. These consulting services do
not include any individualized investment advice to the Plan Sponsor or Plan participants with respect to
Plan assets, and LPL and Good Life do not act as fiduciaries under ERISA in providing such consulting
services.
Guided Wealth Portfolios (GWP)
GWP offers clients the ability to participate in a centrally managed, algorithm-based investment program,
which is made available to users and clients through a web-based, interactive account management portal
(“Investor Portal”). Investment recommendations to buy and sell exchange-traded funds and open-end
mutual funds are generated through proprietary, automated, computer algorithms (collectively, the
“Algorithm”) based upon model portfolios constructed by LPL and selected for the account as described
below (such model portfolio selected for the account, the “Model Portfolio”). Communications concerning
GWP are intended to occur primarily through electronic means (including but not limited to, through email
communications or through the Investor Portal), although [Advisor] will be available to discuss investment
strategies, objectives, or the account in general in person or via telephone.
A preview of the Program (the “Educational Tool”) is provided for a period of up to forty-five (45) days to
help users determine whether they would like to become advisory clients and receive ongoing financial
advice from LPL, and [Advisor] by enrolling in the advisory service (the “Managed Service”). The
Educational Tool and Managed Service are described in more detail in the GWP Program Brochure. Users
of the Educational Tool are not considered to be advisory clients of LPL, or [Advisor], do not enter into an
advisory agreement with LPL, or [Advisor], do not receive ongoing investment advice or supervisions of
their assets, and do not receive any trading services.
A minimum account value of $5,000 is required to enroll in the Managed Service.
Financial Planning Services
Good Life Advisors through its investment advisor representatives generally provides financial planning as
part of a comprehensive asset management engagement. However, financial planning is available
separately for a separate fee. The client is under no obligation to act upon the investment advisor’s
recommendations. The type of plan can vary greatly depending on the scope and complexity of a
particular individual’s financial situation but may include:
Planning Strategies for Families and Individuals
• Retirement – planning an investment strategy with the objective of providing inflation-adjusted
income for life.
College / Education – planning to pay the future college / education expenses of a child or
grandchild.
• Insurance Needs – planning for the financial needs of survivors to satisfy such financial
obligations as housing, dependent childcare, and spousal arrangements as well as education.
• Estate Planning – planning that focuses on the most efficient and tax friendly option to pass on an
estate to a spouse, other family members or a charity.
• Cash Flow/ Budget Planning – planning to manage expenses against current and projected
income.
• Tax Planning – planning a tax efficient investment portfolio to maximize deductions and off-setting
losses.
• Investment Planning – planning an investment strategy consistent with particular objectives, time
horizons and risk tolerances.
Planning Strategies for Businesses
• Business Entity Planning – review the various forms of business structures in relation to liability
and income tax considerations.
• Qualified Retirement Plans – evaluate the types of retirement plans established by an employer
for the benefit of the company’s employees.
• Stock Option Planning – planning to maximize the value of employer issued stock options and
optimize what to exercise and what to hold.
• Key Person Planning – evaluate the life insurance needs required in the event of the sudden loss
of a key executive in order to buy time to find a new person or to implement other strategies to
continue the business.
• Executive Benefits – planning to attract, reward and retain top executive talent.
• Deferred Compensation Plans – planning for the use of tax deferred funds to be withdrawn and
taxed at some point in the future.
• Business Succession Planning – planning for the continuation of a business after key executives
move on to new opportunities, retire or pass away with the use of buy-sell agreements, key-man
insurance and engaging independent legal counsel as needed.
Prior to engaging Good Life Advisors to provide stand-alone planning or consulting services, clients are
required to enter into a Financial Planning and Consulting Agreement setting forth the terms and
conditions of the engagement (including termination), describing the scope of the services to be provided,
and the portion of the fee that is due from the client prior to Good Life Advisors commencing services. If
requested by the client, Good Life Advisors may recommend the services of other professionals for
implementation purposes, including our IARs in their individual capacities as registered representative of
LPL Financial and as licensed insurance agents (“Recommended Professional”).
Comprehensive Financial Planning
This service involves working one-on-one with a planner over an extended period of time. By paying a
monthly retainer, clients get continuous access to a planner who will work with them to design their plan.
The planner will monitor the plan, recommend any changes, and ensure the plan is up to date. Upon
desiring a comprehensive plan, a client will be taken through establishing their goals and values around
money. They will be required to provide information to help complete the following areas of analysis: net
worth, cash flow, insurance, credit scores/reports, employee benefit, retirement planning, insurance,
investments, college planning and estate planning. Once the client’s information is reviewed, their plan will
be built and analyzed, and then the findings, analysis and potential changes to their current situation will
be reviewed with the client. Clients subscribing to this service will receive a written or an electronic report,
providing the client with a detailed financial plan designed to achieve his or her stated financial goals and
objectives. If a follow up meeting is required, we will meet at the client's convenience. The plan and the
client’s financial situation and goals will be monitored throughout the year and follow-up phone calls and
emails will be made to the client to confirm that any agreed upon action steps have been carried out. On
an annual basis there will be a full review of this plan to ensure its accuracy and ongoing appropriateness.
Any needed updates will be implemented at that time.
Planning Subscription Service
The firm offers a planning subscription service to provide on-going advice and guidance related to
financial planning for a fixed monthly or quarterly fee. The service allows a Client to speak with a
Financial Advisor on a regular basis as needed without the requirement to maintain an asset management
account or engage a Financial Advisor to create a comprehensive financial plan.
Third Party Asset Management Programs (“TAMP”)
Good Life Advisors may select other investment advisors for our clients by advising our clients regarding
Independent Managers or Third-Party Asset Management Programs (“TAMP”) or by referral arrangements.
To the extent we utilize an Independent Manager or a TAMP, we shall provide the Independent Manager
or TAMP manager with each client’s particular investment objective and risk tolerance. Any changes in a
client’s financial situation or investment objectives reported by the client to Good Life shall be
communicated to the Independent Manager or TAMP manager within a reasonable period of time.
Good Life Advisors may recommend or select other investment advisors for its clients generally through a
Third-Party Asset Management Programs (“TAMP”). Through these TAMPs, IARs can provide ongoing
investment advice to a client that is tailored to the individual needs of the client. When a client participates
in a TAMP program, our IAR normally obtains the necessary financial information from the client, assists
the client in determining the suitability of the program, assists the client in setting an appropriate
investment objective, and assists the client in opening an account with the TAMP. Additionally, depending
on the type of TAMP program, our IAR may assist the client in selecting a model portfolio of securities
designed by the TAMP or select a portfolio management firm to provide discretionary asset management
services. However, it is the third-party investment advisor that has been selected, and not our IAR, that
has client authority to purchase and sell securities on a discretionary or non-discretionary basis pursuant to
investment objectives chosen by the client. This authorization is set forth in the TAMP client agreement
executed by the client. The Brochure for the particular TAMP will explain whether clients can impose
restrictions on investing in certain securities or types of securities. Good Life Advisors currently offers
advisory services through TAMPs sponsored by: AssetMark, Flexible Plans, SEI Private Trust,
Buckingham Strategic Wealth, LLC, and EQIS Capital Management, Inc.
Referral Services for Investment Advisors
Investment advisor representatives may act as referral agents or solicitors on behalf of third-party
investment advisors for a fee pursuant to a referral or promoter agreement. In such cases, investment
advisor representatives are responsible for providing a disclosure statement. When clients have been
referred to a third-party investment advisor in such a manner by Good Life, the client enters into an
advisory agreement with the third-party investment advisor to provide advisory services and Good Life is
not a party to the agreement to provide ongoing investment advice.
Retirement Plan Consulting Services
Investment advisor representatives assist clients that are trustees or other fiduciaries to retirement plans
(“Plans”) by providing fee-based consulting and/or advisory services.
ERISA 3(21) – Non-Discretionary
The Adviser will provide research and analysis regarding investment advice and fiduciary due diligence
services for the Client. The goal of the investment due diligence process is to establish a logical, technical,
and prudent process that is consistently employed in the selection and ongoing monitoring of funds for
plan sponsors and individuals, accompanied by an investment policy statement (for plan sponsors only),
that defines the process utilized to recommend prudent investment actions to plan fiduciaries, or their
representatives. In providing the investment advice to the Client’s plan the Adviser will follow the
investment policy statement and undertake procedural due diligence to arrive upon, or facilitate, prudent
investment-related recommendations. However, services provided by the Adviser under this Agreement
will not include any services with respect to employer securities, company stock, or the design and
monitoring of asset allocation model glide paths or other custom asset allocation management services or
solutions, whether available through the Adviser or an affiliate thereof
The Advisor acknowledges that it is a fiduciary with respect to the Plan under Section 3(21)(A)(ii) of the
Employee Retirement Income Security Act of 1974, as amended (ERISA) and, as such, is a co-fiduciary
with the plan sponsor fiduciary(ies) of the Client’s Plan solely with respect to (a) the provision of
investment education of the employer and/or plan participants (depending on the specific advisory
services provided); (b) the periodic reporting on, and analysis of, the investment options available under
the Plan, excluding company stock and investments made available through a brokerage account/window
or similar such investment vehicle; and (c) the provision of advice to the plan sponsor fiduciary(ies)
regarding the elimination or addition of investment options available under the Plan; provided, however,
that the plan sponsor fiduciary(ies) acknowledge and agree that the plan sponsor fiduciary(ies) have the
final and conclusive responsibility for the investment options selected to be available under the Plan. The
Adviser will not be responsible for investment decisions made by the Plan participants with respect to the
investment of their individual accounts.
ERISA 3(38) – Discretionary
The Adviser shall be responsible, and maintains discretion, for the selection, mapping, and ongoing
monitoring, of investments offered within the Plan sponsored by the Client. The Adviser hereby accepts
fiduciary responsibility for such duties. The Client engages the Adviser for management of Plan assets
and shall delegate specified authority and discretion to the Adviser for the selection, mapping, and ongoing
monitoring (including replacement, as prudent), of investments offered within the plan. However, services
provided by the Adviser under this Agreement will not include any services with respect to employer
securities, company stock, or the design and monitoring of asset allocation model glide paths or other
custom asset allocation management services or solutions, whether available through the Adviser or an
affiliate thereof. The Adviser shall also provide documentation supporting the
investment due diligence in a
regularly prepared Fiduciary Investment Review report.
The Advisor acknowledges that it is a fiduciary with respect to the Plan under Section 3(38) of ERISA and,
as such, is a fiduciary to the Client’s Plan solely with respect to the selection, mapping, monitoring, and
replacement of plan investment options for which it has explicit authorized discretionary control. The
Adviser will not be responsible for investment decisions made by individual Plan participants with respect
to the investment of their accounts and/or investment into a model portfolio managed by Adviser, if
applicable.
Participant Education (Plan and Participant Level)
The Advisor will assist with developing an education and communication strategy for the Plan’s
participants that includes developing a calendar of educational meetings, determining appropriate topics,
establishing meeting dates and schedule, prioritizing group versus one-on-one meetings, and so on.
The Advisor will meet with participants, regularly or as requested, to present information regarding the
benefits of Plan participation; the impact of pre-retirement withdrawals on retirement income, investment
objectives, and philosophies; and risk/return characteristics. Adviser may provide nonfiduciary education,
but not advice, concerning the availability of withdrawals and rollovers from the Plan at any group
meetings held for Plan participants but will not discuss the advisability of withdrawals or rollovers at such
meetings. The Adviser may provide written general financial information related to investment concepts
such as diversification, dollar-cost averaging, estimating future retirement income needs, and assessing
risk tolerance. The Adviser may furnish investment materials, such as worksheets or questionnaires, which
allow participants to estimate future income needs and assess different asset allocation models.
For these services, the Client acknowledges that Adviser will not be acting as a fiduciary to the Plan under
ERISA, or any regulations promulgated thereunder.
Participant Advice (Participant Level)
The Adviser will either conduct in-person one-on-one meetings to be coordinated with the Client, or via
alternative means of communication (via the telephone, electronically, etc.) as is deemed optimal by the
Adviser, the Client, and each individual participant in the Plan wishing to engage the Adviser for individual
investment advice. The Adviser will determine the Plan participant’s investment return objectives, risk
tolerance, time horizon, and other preferences; recommend a suitable asset allocation model for the
participant; and advise the participant to periodically rebalance his or her asset allocation mix to maintain
consistency with the asset allocation model.
For these services, and only these services described as Investment Advice (Participant Level), the
Adviser acknowledges that it will be a fiduciary to the Plan under ERISA section 3(21)(a)(i). Adviser’s
fiduciary responsibilities to the Plan, however, will be limited to the advice provided to each individual
participant. The Adviser does not possess discretionary control and thus will not be responsible for actual
investment elections made by the Plan participants if not in accordance with the advice provided. The
Adviser assumes no other fiduciary responsibilities under this Agreement other than those specifically
outlined herein.
Investment Management of Model Portfolios (Plan Level)
The Adviser will manage asset allocation model portfolios (the “Models”) for the Client. Client grants
Adviser discretion regarding asset allocation design, investment selection, and weighting of investment
options within each of the Models. The Adviser’s discretionary authority is limited to management of the
Models and does not apply to any other aspect of the Client’s account or Plan.
For these services, and only these services described as Investment Management of Model Portfolios
(Plan Level), the Adviser acknowledges that it will be a fiduciary to the Plan under ERISA section
3(21)(a)(i) and ERISA section 3(38). Adviser’s fiduciary responsibilities to the Plan, however, will be limited
to the management of the Models. The Adviser will not be responsible for investment decisions made by
the Plan participants about the investment of their accounts into the Models. The Adviser assumes no
other fiduciary responsibilities under this Agreement other than those specifically outlined herein.
Services Offered
Investment Advisor Representatives perform one or more of the following services, as selected by the
client in the client agreement:
• Investment Policy Statement. Advisor Representative will assist the Plan in the preparation or
review of an investment policy statement (“IPS”) for the plan based upon consultation with Client.
• Ongoing Investment Recommendations. Advisor Representative will recommend, for
consideration and selection by Client, specific investments to be held by the Plan or, in the case of
a participant-directed defined contribution plan, to be made available as investment options under
the Plan. Advisor Representative will recommend for consideration and selection by Client,
investment replacements if an existing investment is determined by the Client to no longer be suitable
as an investment option.
• Ongoing Investment Monitoring. Advisor Representative will perform ongoing monitoring of
investment options in relation to the criteria provided by the Client to the Advisor Representative.
• Qualified Default Investment Alternative Assistance. Advisor Representative may assist Client
with selecting investment products or managed accounts offered by third parties in connection with
the definition of a “Qualified Default Investment Alternative” (“QDIA”) under ERISA (for plans subject
to ERISA).
• Non-Discretionary Model Portfolios. Advisor Representative will recommend, for consideration
and approval by Client: 1. asset allocation target-date or risk-based model portfolios for the Plan to
make available to Plan participants and 2. funds from the line-up of investment options chosen by
the Client to include in such model portfolios.
• Performance Reports. Advisor Representative will prepare periodic reports reviewing the
performance of all Plan investment options, as well as comparing the performance thereof to
benchmarks with Client. The information used to generate the reports will be derived directly from
information such as statements provided by Client, investment providers and/or third parties.
• Service Provider Liaison. Advisor Representative shall assist the Plan by acting as a liaison
between the Plan and service providers, product sponsors or vendors. In such cases, Advisor
Representative shall act only in accordance with instructions from Client or Plan administration
matters and shall not exercise judgement or discretion on such matters.
• Education Services to Plan Committee. Advisors Representative will provide training for the
members of the Plan Committee regarding their service on the Committee, including education and
consulting with respect to fiduciary responsibilities.
• Participant Education. Advisors Representative will design an education plan and policy statement
that may include information about the investment options under eh Plan (e.g., investment objectives,
risk/return characteristics and historical performance, investment concepts (*e.g., diversification,
asset classes and risk and return), the determination of investment time horizons and the
assessment of risk tolerance. Such information shall not include specific investment advice about
investment options under the Plan as being appropriate for a particular participant.
• Participant Enrollment. Advisors Representative will assist Client in enrolling participants in the
Plan, including conducting an agreed-upon number of enrollment meetings. As part of such
meetings, Advisor Representative will provide participants with information about the Plan, which
may include information on the benefits of Plan participation, the benefits of increasing Plan
contributions, the impact of preretirement withdrawals on retirement income, the terms of the Plan
and the operation of the Plan.
• Plan Search Support/Vendor Analysis. Advisor Representatives will assist with the preparation,
distribution, and evaluation of Requests for Proposal, finalist interviews and conversion support.
• Benchmarking Services. Advisor Representative will provide Client with comparisons of Plan data
(e.g., regarding fees and services and participant enrollment and contributions) to data from the
Plan’s prior years and/or a benchmark group of similar plans.
• Assistance Identifying Plan Fees. Advisor Representative will assist Client in identifying the fees
and other costs borne by the Plan, as specified by Client, for investment management,
recordkeeping, participant education, participant communication and/or other services provided with
respect to the Plan.
Publicly Traded Employer Stock
If the Plan makes available publicly traded employer stock (“company stock”) as an investment option
under the Plan, Representatives do not provide investment advice regarding company stock and are not
responsible for the decision to offer company stock as an investment option. In addition, if participants in
the Plan invest the assets in their accounts through individual brokerage accounts, a mutual fund window,
or other similar arrangement, or obtain participant loans, IARs do not provide any individualized advice or
recommendations to the participants regarding these decisions.
Retirement Plan Rollovers
An employee generally has four (4) options for their retirement plan when they leave an employer:
1. Leave the money in his/her former employer’s plan, if permitted
2. Rollover the assets to his/her new employer’s plan if one is available and permitted
3. Rollover to an Individual Retirement Account (IRA), or
4. Cash out the account value, which has significant tax considerations
Each of these options has advantages and disadvantages and before making a change we encourage you to
speak with your CPA and/or tax attorney. If you are considering rolling over your retirement funds to an IRA for us
to manage here are a few points to consider before you do so:
• Determine whether the investment options in your employer's retirement plan address your needs or
whether you might want to consider other types of investments.
• Employer retirement plans generally have a more limited investment menu than IRAs.
• Employer retirement plans may have unique investment options not available to the public such as
employer securities, or previously closed funds.
• Your current plan may have lower fees than our fees.
If you elect to roll the assets to an IRA that is subject to our management, we will charge you an asset-based fee
as set forth in the agreement you executed with our firm. This practice presents a conflict of interest because
Investment Advisor Representatives have an incentive to recommend a rollover to you for the purpose of
generating fee-based compensation rather than solely based on your needs. You are under no obligation,
contractually or otherwise, to complete the rollover. Moreover, if you do complete the rollover, you are under no
obligation to have the assets in an IRA managed by our firm.
Many employers permit former employees to keep their retirement assets in their company plan. Also, current
employees can sometimes move assets out of their company plan before they retire or change jobs. In
determining whether to complete the rollover to an IRA, and to the extent the following options are available, you
should consider the costs and benefits of each. An employee will typically be investing only in mutual funds, you
should understand the cost structure of the share classes, available in your employer's retirement plan and how
the costs of those share classes compare with those available in an IRA. Clients should understand the various
products and services they might take advantage of at an IRA provider and the potential costs of those products
and services.
• Our strategy may have higher risk than the option(s) provided to you in your plan.
• Your current plan may also offer financial advice.
• If you keep your assets titled in a 401k or retirement account, participants could potentially delay their
required minimum distribution beyond age.
• A 401(k) may offer more liability protection than a rollover IRA; each state may vary.
• Participants may be able to take out a loan on your 401k, but not from an IRA.
• IRA assets can be accessed any time; however, distributions are subject to ordinary income tax and may
also be subject to a 10% early distribution penalty unless they qualify for an exception such as disability,
higher education expenses or the purchase of a home.
• If company stock is owned in a plan, participants may be able to liquidate those shares at a lower capital
gains tax rate.
• Plans may allow Advisor to be hired as the manager and keep the assets titled in the plan name.
Generally, federal law protects assets in qualified plans from creditors. Since 2005, IRA assets have been
generally protected from creditors in bankruptcies. However, there can be some exceptions to the general rules
so you should consult with an attorney if you are concerned about protecting your retirement plan assets from
creditors.
It is important to understand the differences between these types of accounts and to decide whether a rollover is
the best option. Prior to proceeding, if you have questions contact your Investment Adviser Representative, or call
our main number as listed on the cover page of this brochure.
When Advisor provides 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.
Advisor also provides educational services to retirement plan participants with assets that could potentially be rolled-
over to an IRA advisory account. Education is based on a particular Client’s financial circumstances and best
interests. Again, Advisor has an incentive to recommend such a rollover based on the compensation received,
which is mitigated by the fiduciary duty to act in a Client’s best interest and acting accordingly.
Educational Seminars
Good Life through our Representatives offers educational seminars and workshops relevant to investing
and may charge attendees a fee for admission or seminar materials. No client is required to attend such
seminars or workshops or pay any fee in connection such seminar or workshop.
Newsletters & Periodicals
Good Life Advisors through our IARs may publish or circulate newsletters or periodicals relevant to
investing and may charge a subscription fee. No client is required to subscribe to any newsletters or
periodicals or pay any subscription fee.
eMoney Advisor Platform
Good Life Advisors can provide clients with access to an online platform hosted by “eMoney Advisor”
(“eMoney”) at no cost or for a fee depending in the larger client relationship. The eMoney platform allows
a client to view his/her complete asset allocation, including those assets not managed by Good Life
Advisors, known as “Excluded Assets”. The eMoney tool also has financial planning tools that can be
used directly by a client.
Good Life Advisors is only able to exercise a fiduciary duty when engaged to manage otherwise excluded
assets or provide guidance and oversight when using the financial planning tools provided with the
eMoney platform.
Conflicts of Interest
Investment advisor representatives must fully disclose all material facts concerning any conflict and
should avoid even the appearance of a conflict of interest and abide by honest and ethical business
practices.
• Certain investment advisor representatives of Good Life Advisors are also dually registered with
another registered investment advisor.
• Investment advisor representatives of Good Life Advisors are also registered representatives of
LPL Financial, a FINRA/SIPC member broker/dealer to offer securities transactions for a
commission.
• Investment advisor representatives of Good Life Advisors are also insurance agents appointed
with multiple insurance carriers to sell insurance products for a commission.
o Good Life IA, LLC (DBA Good Life Insurance Associates, LLC), an affiliate of the
Advisor, is an insurance agency formed in January 2016. Good Life IA, LLC is licensed
with the State of Pennsylvania to sell life, accident and health, long-term care and fixed
insurance.
o The recommendation that a client purchase a commission product from an investment
advisor representative in their separate capacity as a registered representative of LPL or
as an agent of an insurance company presents a conflict of interest, as the receipt of
commissions provides an incentive that may not be in a client’s best interests.
• Investment advisor representatives must not induce trading in a client's account that is excessive
in size or frequency in view of the financial resources and character of the account.
• Investment advisor representatives must make recommendations with reasonable grounds to
believe that they are appropriate based on the information furnished by the client.
• Investment advisor representatives may not borrow money or securities from or lend money or
securities to a client.
• Investment advisor representatives must not place an order for the purchase or sale of a security if
the security is not registered, or the security or transaction is not exempt from registration in the
specific state.
• Product sponsors may pay or reimburse Good Life Advisors for the costs associated with,
education or training events.
• To the extent requested by a client, Good Life Advisors recommends the services of other
professionals for certain non-investment implementation purposes (i.e., attorneys, accountants,
and insurance, etc.), including Representatives of Good Life Advisors in their separate
registered/licensed capacities. The client is under no obligation to engage the services of any
such recommended professional. The client retains absolute discretion over all such
implementation decisions and is free to accept or reject any recommendation from Good Life
Advisors.
o If the client engages any such recommended professional, and a dispute arises, any
recourse will be exclusively from and against the engaged professional.
• The Code of Ethics permits employees and investment advisor representatives or related persons
to invest for their own personal accounts in the same or different securities that an investment
advisor representative may purchase for clients in program accounts.
Conflicts of interest are mitigated by the fiduciary duty to always act in a client’s best interest and acting
accordingly. Good Life’s Chief Compliance Officer is available to address any questions a prospective
client or client may have regarding any conflict of interest.
Other Considerations
Neither the firm nor any investment advisor representative are registered or have an application pending to
register, as a futures commission merchant, commodity pool operator, a commodity trading advisor, or a
representative of the foregoing.
Good Life Advisors is not a law firm or an accounting firm and does not offer legal or accounting services.
Accordingly, Good Life Advisors does not prepare legal documents or prepare tax returns. Good Life Advisors
may introduce clients to other professionals for such non-investment related services, which in some cases