Firm Information Long Island Wealth Management, Inc. (“LIWM”) is an investment advisor firm registered with the Securities and Exchange Commission (“SEC’) as of October 1, 2014. The principal owner of the firm is Jeffrey Myers, CFP®. LIWM offers portfolio management services and financial planning to individuals, trusts, estates or charitable organizations. Advisory Services Offered Long Island Wealth Management, Inc. ("LIWM" or “Advisor”) principal service is providing fee-based investment advisory services and financial planning services. The advisor practices custom management of portfolios, on a discretionary basis, according to the client's objectives. The advisor's primary approach is to use an asset allocation strategy based on the timing of future cash flows. The Advisor will employ both strategic as well as tactical solutions to accomplish client goals. The advisor may use exchange traded funds, separate accounts, exchange listed securities, over the counter securities, corporate debt securities, CD's, municipal securities, mutual funds and United States government securities to accomplish this objective. The advisor measures and selects mutual funds by using various criteria, such as the fund manager's tenure, and/or overall career performance. The advisor may recommend employing cash positions as a possible hedge against market movement which may adversely affect the portfolio. The advisor may recommend selling positions for reasons that include, but are not limited to, harvesting capital gains and losses, business or sector risk exposure to a specific security or class of securities, over valuation or overweighting of the position(s) in the portfolio, change in risk tolerance of client, or any risk deemed unacceptable for the client's risk tolerance. The firm provides regular and continuous management and supervision of assets as well as financial planning primarily to families, individuals, businesses and trusts. Assets are managed on a discretionary or non- discretionary basis, as selected on the written asset management agreement. Discretionary Authority Client grants Advisor ongoing and continuous discretionary authority to execute its investment recommendations without the Client's prior approval of each specific transaction. Under this authority, Client shall allow Advisor to purchase and sell securities and instruments in this Account(s), arrange for delivery and payment in connection with the foregoing, select and retain sub-advisors, and act on behalf of the Client in all matters necessary or incidental. Non-Discretionary Authority Advisor will not execute any investment recommendations without Client’s prior approval (verbal or written). Investment Advisor Representatives are restricted to providing services and charging fees based in accordance with the descriptions detailed in this document and the account agreement. However, the exact service and fees charged to a particular Client are dependent upon the Investment Advisor Representatives that are working with the Client. Investment Advisor Representatives will consider the individual needs of each Client when providing investment advice. Investment strategies and recommendations are tailored to the individual needs of each Client but generally consist of an asset allocation consistent with: Income with Capital Preservation. Designed as a longer-term accumulation account, this investment objective is considered generally the most conservative. Emphasis is placed on generation of current income with minimal risk of capital loss. Lowering the risk generally means lowering the potential income and overall return. Income with Moderate Growth. This investment objective emphasizes generation of current income with a secondary focus on moderate capital growth. Growth with Income. This investment objective emphasizes modest capital growth with some focus on generation of current income. Growth. This investment objective emphasizes achieving high long-term growth and capital appreciation. There is little focus on generation of current income. Aggressive Growth. This investment objective emphasizes aggressive growth and maximum capital appreciation, with no focus on generation of current income. This objective has a very high level of risk and is for investors with a longer timer horizon. At no time will Advisor accept or maintain custody of a Client’s funds or securities. All Client assets will be managed within their designated brokerage account or pension account, pursuant to the Client investment advisory agreement on a discretionary or non-discretionary basis.
• Investment advice is not limited to certain investment types.
• A minimum total investment amount is not required.
• Advisory services are tailored to the individual need of each Client.
• Clients may place reasonable restrictions on investing in certain types of securities. Wrap Fee Program A wrap fee program includes securities transaction fees together with its investment advisory fees. Depending on the level of trading required for the Client’s account[s] in a particular year, the Client may pay more or less in total fees than if the Client paid its own transaction fees. Long Island Wealth Management does not offer a Wrap Fee Program. 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 Advisor provides educational services pertaining to retirement plan assets and can recommend that assets be rolled-over to an IRA managed by the firm when it is in a client’s best interest. 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. There are advantages and disadvantages of an IRA rollover. Before making a change, clients are encouraged to speak with their CPA and/or tax attorney. Clients considering rolling over their retirement funds to an IRA should consider at least the following items:
• Determine whether the investment options in the employer's retirement plan address their needs or whether they 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.
• The current plan may have lower fees. 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, clients 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 their 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 a client keeps their assets titled in a 401k or retirement account, participants could potentially delay their required minimum distribution beyond age 70½.
• 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. IRA assets are 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. When LIWM 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. Client Account Management Prior to engaging Advisor to provide investment advisory services, each Client is required to enter into an investment advisory agreement with that defines the terms, conditions, authority, and responsibilities. Selection of Other Advisors LIWM can recommend and refer clients to unaffiliated money managers or investment advisors through Managed Account programs sponsored by a third-party provider. In these arrangements, the client will enter into a program and investment advisory agreement with the program sponsor and sub-advisors. LIWM will assist and advise the client in establishing investment objectives for the sub-advisors and continue to provide oversight of the client account and ongoing monitoring of the activities of the sub-advisors. The sub-advisors will develop an investment strategy to meet those objectives by identifying appropriate investments and monitoring such investments. In consideration for such services, the program sponsor will charge a program fee that includes the investment advisory fee of the sub-advisors, the administration of the program and trading, clearance and settlement costs. The program sponsor will add LIWM's management fee (described below in the answer to Item 5A&B) and will deduct the overall fee from the client account quarterly either in advance/arrears based on the program selected by the Advisor and client. The client, prior to entering into an agreement with a third-party money manager selected by LIWM, will be provided with that manager’s Brochure. In addition, LIWM and its client will agree in writing that the client’s account will be managed by that selected third party money manager on a discretionary basis. Financial Planning Services Advisor, 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 type of planning can vary greatly depending on the scope and complexity of an individual’s financial situation. Examples, not limitations, of the type of planning available include the following: Cash Flow/ Budget Planning Planning to manage expenses against current and projected income. College / Education Planning to pay the future college / education expenses of a child or grandchild. Divorce Planning for the financial impact of divorce such as change in income, retirement benefits and tax considerations. 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. Final Expenses Planning to leave assets to cover final expenses such as funeral, debts and potential business continuity. 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. Investment Planning Planning an investment strategy consistent with some particular objectives, time horizons and risk tolerances. Major Purchase Evaluation of the pros and cons of home ownership verse renting as well as buying or leasing a car, for example. Retirement Planning an investment strategy with the objective of providing inflation- adjusted income for life. Tax Planning Planning a tax efficient investment portfolio to maximize deductions and off-setting losses. Wealth Accumulation Planning to build wealth within a portfolio that takes into consideration risk tolerance and time horizon. Prior to engaging the firm to provide stand-alone planning or consulting services, Clients are required to enter into an 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 the firm commencing services. Depending on the type of account that could be used to implement a financial plan, compensation can include (but is not limited to) advisory fees, advisory program wrap fees; commissions; mark-ups and mark-downs; transaction charges; confirmation charges; small account fees; mutual fund 12b-1 fees; mutual fund sub-transfer agency fees; hedge fund, managed futures, and variable annuity investor servicing fees; retirement plan fees; fees in connection with an insured deposit account program; marketing support payments from mutual fund, annuity and insurance sponsors; administrative servicing fees for trust accounts; referral fees; compensation for directing order flow; and bonuses, awards or other things of value. To the extent that IAR recommends that Client invest in products and services that will result in compensation being paid to Advisor and the IAR, this presents a conflict of interest. This compensation to IAR and Advisor may be more or less depending on the product or service that IAR recommends. Therefore, the IAR has a financial incentive to recommend that a financial plan be implemented using a certain product or service over another product or service. Clients are under no obligation to act upon the recommendations contained in a financial plan. If the client elects to act on any of the recommendations, there is under no obligation to affect the transaction through the investment adviser. Assets Under Management Assets under management will be amended at least annually within 90 days of the December 31 fiscal year-end. Assets under Management (12/31/2022) Discretionary $210,561,497 Non-Discretionary $6,789,230 Total $217,350,727