part 2a of form adv: firm brochure item 1: cover page february 29, 2016 · 2016. 3. 10. ·...

Part2AofFormADV:FirmBrochureItem1:CoverPageFebruary29,2016

4511NorthHimesAve.

Suite200Tampa,FL33614

www.sicklehunter.com

FirmContact:TravisSickle

ChiefComplianceOfficer

ThisbrochureprovidesinformationaboutthequalificationsandbusinesspracticesofSickleHunterFinancial Advisors, Inc. If you have any questions about the contents of this brochure, pleasecontact us by telephone at (813) 321-6439 or email [email protected]. TheinformationinthisbrochurehasnotbeenapprovedorverifiedbytheUnitedStatesSecuritiesandExchangeCommissionorbyanyStateSecuritiesAuthority.Additional information about SickleHunter Financial Advisors, Inc. is also available on the SEC’swebsiteatwww.adviserinfo.sec.gov.Please note that the use of the term “registered investment adviser” and description of SickleHunterFinancialAdvisors,Inc.and/orourassociatesas“registered”doesnotimplyacertainlevelofskillortraining.YouareencouragedtoreviewthisBrochureandBrochureSupplementsforour

ADVPart2A&2B–FirmBrochure Page2 SickleHunterFinancialAdvisors,Inc.

firm’s associateswho advise you formore information on the qualifications of our firm and ouremployees.


Item2:MaterialChangestoOurPart2AofFormADV:FirmBrochureSincethelastupdateonSeptember24,2015thefirmhasupdatedtheperformancefeeschedule.


Item3:TableofContents

Item1:CoverPage ..................................................................................................................................... 1Item2:MaterialChangestoOurPart2AofFormADV:FirmBrochure ......................................... 3Item3:TableofContents ......................................................................................................................... 4 ....................................................................................................................................................................... 4Item4:AdvisoryBusiness ....................................................................................................................... 5Item5:Fees&Compensation ................................................................................................................. 8Item6:Performance-BasedFees&Side-By-SideManagement ..................................................... 12Item7:TypesofClients&AccountRequirements ........................................................................... 13Item8:MethodsofAnalysis,InvestmentStrategies&RiskofLoss .............................................. 13Item9:DisciplinaryInformation ......................................................................................................... 14Item10:OtherFinancialIndustryActivities&Affiliations ............................................................ 14Item11:CodeofEthics,ParticipationorInterestinClientTransactions&PersonalTrading14Item12:BrokeragePractices ............................................................................................................... 15Item14:ClientReferrals&OtherCompensation ............................................................................. 19Item15:Custody ...................................................................................................................................... 21Item16:InvestmentDiscretion ............................................................................................................ 21Item17:VotingClientSecurities .......................................................................................................... 21Item18:FinancialInformation ............................................................................................................ 22Item19:RequirementsforState-RegisteredAdvisers .................................................................... 22BrochureSupplement(Part2BofFormADV) ........................................................................................ 24


Item4:AdvisoryBusinessWe are dedicated to providing individuals and other types of clients with a wide array ofinvestmentadvisoryservices.OurfirmisacorporationformedintheStateofFlorida.Ourfirmhasbeeninbusinessasaninvestmentadvisersince2014andiswhollyownedbyTravisSickle.

We specialize in the following types of services: Asset Management, Financial Planning &Consulting, and Wealth Management. The firm does not sell annuities, insurance, or othercommissionedproducts,butthefirm’sManagingMemberisalicensedinsuranceagentwithSickleHunterInsuranceAdvisors,Inc.

Thefirmdoesnotactasacustodianofclientassets.

Anevaluationof each client’s initial situation isprovided to the client, often in the formof anetworth statement, risk analysis or similar document. Periodic reviews are also communicated toprovide remindersof the specific coursesof action thatneed tobe taken.More frequent reviewsoccur but are not necessarily communicated to the client unless immediate changes arerecommended.

Otherprofessionals (e.g., lawyers, accountants, taxpreparers, insuranceagents, etc.) areengageddirectlybytheclientonanas-neededbasisandmaychargefeesoftheirown.Conflictsofinterestwillbedisclosedtotheclientintheeventtheyshouldoccur.

DescriptionoftheTypesofAdvisoryServicesWeOfferAssetManagement:Weemphasizecontinuousandregularaccountsupervision.Aspartofourassetmanagementservice,we generally create a portfolio, consisting of individual stocks or bonds, exchange traded funds(“ETFs”), options,mutual funds and other public and private securities or investments. The client’sindividual investment strategy is tailored to their specificneedsandmay includesomeorallof thepreviously mentioned securities. Each portfolio will be initially designed to meet a particularinvestmentgoal,whichwedeterminetobesuitabletotheclient’scircumstances.Oncetheappropriateportfoliohasbeendetermined,wereviewtheportfolioat leastquarterlyandifnecessary,rebalancetheportfoliobasedupontheclient’sindividualneeds,statedgoalsandobjectives.FinancialPlanning&Consulting:Weprovideavarietyoffinancialplanningandconsultingservicestoindividuals,familiesandotherclientsregardingthemanagementoftheirfinancialresourcesbaseduponananalysisoftheclient’scurrent situation, goals, and objectives. Generally, such financial planning services will involvepreparing a financial plan or rendering a financial consultation for clients based on the client’sfinancial goals and objectives. The six areas of our financial planning services are (1) financialsituation;(2)incometaxplanning;(3)insurance;(4)investments;(5)retirementplanning;and(6)estateplanning.Pleasenotethatourfirmwillnotprovideaccountingorlegaladvice.Ourfinancialplanning services will include an initial consultation, data gathering, solutions and a reviewmeeting.

Ourwritten financial plans or financial consultations rendered to clients usually include generalrecommendationsforacourseofactivityorspecificactionstobetakenbytheclients.Forexample,recommendationsmay bemade that the clients begin or revise investment programs, create orrevisewillsortrusts,obtainorreviseinsurancecoverage,commenceoralterretirementsavings,orestablisheducationorcharitablegivingprograms.Itshouldalsobenotedthatwereferclientstoan


accountant,attorneyorotherspecialist,asnecessaryfornon-advisoryrelatedservices.Forwrittenfinancialplanningengagements,weprovideourclientswithawrittensummaryof their financialsituation,observations,andrecommendations.Forfinancialconsultingengagements,weusuallydonotprovideourclientswithawrittensummaryofourobservationsandrecommendations,astheprocess is less formal than our planning service. Plans or consultations are typically completedwithinsix(6)monthsoftheclientsigningacontractwithus,assumingthatalltheinformationanddocuments we request from the client are provided to us promptly. Implementation of therecommendationswillbeatthediscretionoftheclient.

Consulting services will continue from year to year unless cancelled in writing by either party.ClientmayterminatetheAgreementwithinfive(5)businessdayswithoutobligation.WealthManagement:Our wealth management services may include our financial planning services in addition toadvanced financial planning strategies that may require coordinating and/or meeting with anestate planner, CPA, charities, businesses or other professionals.Ourwealthmanagement clientstypically havemultiple data gathering, solutionsmeetings andphone calls due to the complexityandcoordinationoftheirfinanciallives.QualifiedPlanConsultingServices:We offer Qualified Plan Consulting Services to individuals. We will meet with the client forinformationgatheringinitiallyandtheneveryquarterthereafterforreviewandrecommendations.Every quarter, we will review the investment options available within the plan and makeinvestment recommendations to the client based on the investment options available and theclient’s financial objectives. It is ultimately the clients’ decision to execute the recommendationsmadebyus.ERISAPlanServices:Weprovideservicetoqualifiedandnon-qualifiedretirementplansincluding401(k)plans,403(b)plans,pensionandprofitsharingplans,cashbalanceplans,anddeferredcompensationplans.LimitedScopeERISA3(21)Fiduciary.We typically act as a limited scopeERISA3(21) fiduciarythat can advise, help and assist plan sponsors with their investment decisions on a non-discretionary basis. As an investment advisor registered under the Securities Act of Florida andother applicable state securities laws,we have a fiduciary duty to act in the best interest of theclient.Theplansponsorisstillultimatelyresponsibleforthedecisionsmadeintheirplan,thoughusingourfirmcanhelpmitigatethatplansponsor’sliabilitybyfollowingadiligentprocess.1. FiduciaryServicesare:

Ø Provide non-discretionary investment advice to the Client about asset classes andinvestmentalternativesavailableforthePlaninaccordancewiththePlan’sinvestmentpoliciesandobjectives.Clientwillmakethefinaldecisionregardingtheinitialselection,retention,removalandadditionofinvestmentoptions.AdvisoracknowledgesthatitisafiduciaryasdefinedinERISAsection3(21)(A)(ii).

Ø Assist the Clientwith the selection of a broad range of investment options consistentwithERISASection404(c)andtheregulationsthereunder.

Ø AssisttheClientinthedevelopmentofaninvestmentpolicystatement(“IPS”).TheIPSestablishes the investment policies and objectives for the Plan. Client shall have the


ultimate responsibility and authority to establish such policies and objectives and toadoptandamendtheIPS.

Ø Assistinmonitoringinvestmentoptionsbypreparingperiodicinvestmentreportsthatdocumentinvestmentperformance,consistencyoffundmanagementandconformancetotheguidelinessetforthintheIPSandmakerecommendationstomaintain,removeorreplaceinvestmentoptions.

Ø Meet with Client on a periodic basis to discuss the reports and the investmentrecommendations.

Ø Provide non-discretionary investment advice to the Plan Sponsorwith respect to theselection of a qualified default investment alternative for participants who areautomatically enrolled in the Plan or who have otherwise failed tomake investmentelections. The Client retains the sole responsibility to provide all notices to the PlanparticipantsrequiredunderERISASection404(c)(5).

2. Non-fiduciaryServicesare:

Ø Assist in theeducationofPlanparticipantsaboutgeneral investment informationandthe investment alternatives available to them under the Plan. Client understands theAdvisor’sassistance ineducationof thePlanparticipants shallbe consistentwithandwithin the scope of the Department of Labor’s definition of investment education(DepartmentofLaborInterpretiveBulletin96-1).Assuch,theAdvisorisnotprovidingfiduciary advice as define by ERISA to the Plan participants. Advisorwill not provideinvestmentadviceconcerningtheprudenceofanyinvestmentoptionorcombinationofinvestmentoptionsforaparticularparticipantorbeneficiaryunderthePlan.

Ø Assist in the group enrollment meetings designed to increase retirement planparticipationamongtheemployeesandinvestmentandfinancialunderstandingbytheemployees.

Advisormayprovidetheseservicesor,alternatively,mayarrangeforthePlan’sotherproviderstooffertheseservices,asagreeduponbetweenAdvisorandClient.

3. The Advisor has no responsibility to provide services related to the following types of assets(“ExcludedAssets”):

1. Employersecurities;

2. Realestate(exceptforrealestatefundsorpubliclytradedREITs);

3. Stockbrokerageaccountsormutualfundwindows;

4. Participantloans;

5. Non-publiclytradedpartnershipinterests;

6. Other non-publicly traded securities or property (other than collective trusts and similarvehicles);or

7. Otherhard-to-valueorilliquidsecuritiesorproperty.

Excluded Assets will not be included in calculation of Fees paid to the Advisor under thisAgreement.


TailoringofAdvisoryServicesWe offer individualized investment advice to clients utilizing our Asset Management service.Additionally, we offer general investment advice to clients utilizing our Financial Planning &ConsultingandWealthManagementservices.

Eachclienthastheopportunitytoplacereasonablerestrictionsonthetypesofinvestmentstobeheldintheportfolio.Restrictionson investments incertainsecuritiesor typesof securitiesmaynotbepossibleduetothelevelofdifficultythiswouldentailinmanagingtheaccount.RestrictionswouldbelimitedtoourAssetManagementservice.Wedonotmanageassetsthroughourotherservices.ParticipationinWrapFeeProgramsWeofferwrapfeeprogramsasfurtherdescribedinPart2A,Appendix1(the“WrapFeeProgramBrochure”) of our Brochure. Our wrap fee and non-wrap fee accounts are managed on anindividualizedbasisaccording to theclient’s investmentobjectives, financialgoals, risk tolerance,etc.We do notmanagewrap fee accounts in a different fashion than non-wrap fee accounts. AsfurtherdescribedinourWrapFeeProgramBrochure,wereceiveaportionofthewrapfeeforourservices.RegulatoryAssetsUnderManagementAsofMarch17,2015,thefirmhasapproximately$19Millioninclientassetsundermanagementonadiscretionarybasis.

Item5:Fees&CompensationHowWeAreCompensatedforOurAdvisoryServicesAssetManagement/LPLFinancialasCustodian:

AssetsUnderManagement AnnualPercentageofAssetsCharge$0-$500,000 Upto2.00%

$500,000to$1,000,000 Upto1.50%$1,000,000to$2,500,000 Upto1.00%$2,500,000to$5,000,000 Upto0.85%

Over$5,000,000 Upto0.50%Ourfirm’sfeesarebilledonapro-rataannualizedbasisquarterlyinadvancebasedonthevalueofyouraccountonthelastdayofthepreviousquarter.Ourfeesaregenerallynotnegotiable.Feeswillbeautomaticallydeductedfromyourmanagedaccount.Inrarecases,wewillagreetodirectlybillclients. LPL Financial will make quarterly adjustments for deposits and withdrawals in clientaccounts.Aspartofthisprocess,youunderstandandacknowledgethefollowing:

a) LPL Financial as the custodian sends statements at least quarterly to Clients showing alldisbursementsfortheiraccount,includingtheamountoftheadvisoryfeespaidtoourfirm;

b) TheClienthasprovidedauthorizationpermittingfeestobedirectlypaidbytheseterms;c) LPLFinancialcalculatestheadvisoryfeesanddeductsthemfromtheClient’saccount.


AssetManagement/BettermentInstitution

AssetsUnderManagement AnnualPercentageofAssetsCharge$0-$500,000 1.25%

500,001-1,000,000 1.00%1,000,001-5,000,000 0.75%

5,000,001+ 0.50%Our annual Advisory Fee is an asset-based fee,whichwill be prorated and billed on a quarterlybasisinarrears,basedontheClient’saveragedailyaccountbalanceforthepriorquartermultipliedbytheAnnualPercentageofAssetsCharge(i.e.,1.25%÷4).Our fees are generally not negotiable. Fees will be automatically deducted from your account.Betterment Institution will make quarterly adjustments for deposits and withdrawals in clientaccounts.Aspartofthisprocess,youunderstandandacknowledgethefollowing:

a) Betterment Institution as the custodian sends statements at least quarterly to Clientsshowingalldisbursementsfortheiraccount,includingtheamountoftheadvisoryfeespaidtoourfirm;

b) TheClienthasprovidedauthorizationpermittingfeestobedirectlypaidbytheseterms;c) Betterment Institution calculates the advisory fees and deducts them from the Client’s

account.Thefeesarebasedonaclient’saveragebalanceoftheirentireaccount.Clientwillseethetotal fee(to includetheBettermentInstitutionalplatformfeeof25basispoints inadditiontotheannualpercentageofassetschargebyfirmof1.25%)

PerformanceBasedFees:

AssetsunderManagement PerformanceFeeOver$1,000,000 25%

The Performance-based fees are charged quarterly in arrears for the previous period. TheperformancefeewillbeacalculatedbyaGrossAssetValueoftheaccountonastartdateandbebenchmarked to the Net Asset Value of the stated account net of quarterly managementfees.Thisfeescheduleisonaquarterlybasis.Thescheduledoescontainahighwatermark.Thescheduledoesnotcontainclawbacks.AsnapshotoftheAUMoftheaccountwillbetakenonthestartandendofeachquarterandcompared.Additionsandwithdrawalstotheaccountwithbeadjusted.Allfeeswillbedeductedfromtheaccountviathecustodialproviders.

PerformanceFeedisclaimer:Allperformancefeesarebasedonanewhighwatermarkforanyquarterthatischarged.

HIGHWATERMARKCALCULATIONS:

• Initialdeposit$1,000,000• Performancefeeissetat25%• Endoffirstquarterbalanceis$1,075,000• Firstquarterperformancefeeis$18,750• Calculation:$75,000x25%=$18,750


Newhighwatermarkis$1,056,250($1,075,000-$18,750)

• Endofsecondquarterbalanceis$1,050,000• Noperformancefeepaid• Highwatermarkremains$1,056,250• Fees will not be charged until the account value goes above the high water mark of

$1,056,250

Thisexampleassumesthattherewerenonewdepositsornewwithdrawals,whichcanaffectthehighwatermark.

HypotheticalNetDeposit:Ifanewdepositismadeintotheaccountwithabalanceof1,050,000thehighwatermarkwillbecalculatedbasedonthedollaramountdeposited.Using theabovescenarioasanexample:

• Deposit$50,000toaccountwith$1,050,000• Newaccountbalancewillbe$1,100,000• Highwatermarkisincreasedby$50,000• Newhighwatermarkis$1,106,250• Noperformancefeepaid• Theaccountwillonlybechargedaperformancefeeoncetheaccount isabovethenew

highwatermark.

HypotheticalNetWithdrawal:Ifnewwithdrawalsaremadeintheaccountthehighwatermarkwillbeadjustedbasedonthepercentwithdrawnoftheendingquarter’saccountbalance.

𝐸𝐸𝐸𝐸𝐸𝐸𝐸𝐸𝐸𝐸𝐸𝐸 𝑄𝑄𝑄𝑄𝑄𝑄𝑄𝑄𝑄𝑄𝑄𝑄𝑟𝑟!𝑠𝑠 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐸𝐸𝐸𝐸𝐸𝐸𝐸𝐸𝐸𝐸𝐸𝐸 𝑄𝑄𝑄𝑄𝑄𝑄𝑟𝑟𝑟𝑟𝑟𝑟𝑟𝑟!𝑠𝑠 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵 +𝑊𝑊𝑊𝑊𝑊𝑊ℎ𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑

𝐻𝐻𝐻𝐻𝐻𝐻ℎ 𝑊𝑊𝑊𝑊𝑊𝑊𝑊𝑊𝑊𝑊 𝑀𝑀𝑀𝑀𝑀𝑀𝑀𝑀

Usingtheabovescenarioasanexample:

• Withdraw$50,000fromaccountwith$1,050,000• New account balance is $1,000,000, which is 95.24% of the ending quarter’s account

balanceof$1,050,000• Newhighwatermarkiscalculatedbyadjustingtheoriginalhighwatermark95.24%of

thehighwatermark:Example:$1,056,250*95.24%=$1,005,972.50

• Roundingthepercentadjustedtotwodecimalplaces• Noperformancefeepaid

Transactionfeesapplytotheperformancebasedaccount.

TheclientwillbebilledforthePerformance-BasedFeesthroughadirectinvoice.Lowerfeesforcomparableservicesmaybeavailable fromothersources.Clientsmayterminate theiraccountwithin five (5) business days of signing the Investment Advisory Agreement for a full refund.Clients may terminate advisory services with thirty (30) days written notice. Sickle HunterFinancialAdvisorswillbeentitledtoafinalfeecalculationfortheendfinalquarter.Theinvoiceandfeecalculationswillbeinitiatedimmediatelyuponterminationoftheaccount.Clientshallbegiventhirty(30)dayspriorwrittennoticeofanyincreaseinfees,andclientwillacknowledge,inwriting,anyagreementofincreaseinsaidfees.

AutomaticFeeWithdrawal1. Theclientprovideswrittenauthorizationpermitting theadviser's fees tobepaiddirectly

fromtheclient'saccountheldbytheindependentcustodian;


2. The independent custodian agrees to send to the client, at least quarterly, a statementindicatingallamountsdisbursedfromtheaccount;and

3. Theinvestmentadvisersendsaninvoicetotheclientandcustodianshowingtheamountofthe fee, the value of the client's assets upon which the fee was based, and the specificmannerinwhichthefeewascalculated.

FinancialPlanning&Consulting:Wechargeeitheronanhourlyorflatfeebasisforfinancialplanningandconsultingservices.

FixedFeesThefeeconsistsofaninitialupfrontfeeof$999plusanongoingmonthlyfeeof$99. Feesarebasedontheuniqueclientneedsandcomplexityoftheservicesrequired.Priortotheplanningprocesstheclientwillbeprovidedanestimatedfee.Clientwillpaytheinitial feeuponsigningtheagreementandthemonthly feeeachmonthwithin10daysofreceiptof the invoice.Clientmaycancelwithinfive(5)businessdaysofsigningtheAgreementforafullrefund.Iftheclientcancelsafterfive(5)businessdays,thefinancialplanningservicewillbeterminatedattheendofthemonthinwhichthefeehasalreadybeenpaid.

HourlyFeesOne-timeconsultingservicesareofferedbasedonanhourlyfeeof$125perhour.Clientswillbeprovidedanestimatedfeerangepriortotheclientengaginginservices. Clientwillpayhalfoftheestimated feeat thesigningof theagreementwith thebalanceof the feedue touswithinthirty(30)daysofsigningtheagreement.

WealthManagement:The fee consists of an initial upfront fee of $1,950 plus an ongoingmonthly fee of $149 for ourwealthmanagementservice.Priortotheplanningprocesstheclientwillbeprovidedandestimatedfee. Client will pay the initial fee upon signing the agreement and the monthly fee each monthwithin10daysofreceiptoftheinvoice.Clientmaycancelwithinfive(5)businessdaysofsigningtheAgreementforafullrefund.Iftheclientcancelsafterfive(5)businessdays,anyunearnedfeeswillberefundedtotheclient,oranyunpaidearnedfeeswillbeduetoAdvisor.

QualifiedPlanConsultingServices:Theannual fee forQualifiedPlanConsultingServiceswillnotexceed1%of includedplanassets.Feeswillbepaidquarterlyinadvance.Clientwillbeprovidedaninvoiceatthecommencementofservicespayabledirectlytouswithinten(10)daysofreceipt.Clientsmaychoosetopayusdirectlyor have the amount deducted from another accountmanaged by us. Clientsmay terminate theiraccountwithinfive(5)businessdaysforafullrefund.Forterminationafterfive(5)days,clientwillbeentitledtoapro-ratarefundbasedonadvicealreadyrendered.Clientshallbegiventhirty(30)days prior written notice of any increase in fees, and client will acknowledge, in writing, anyagreementofincreaseinsaidfees.ERISAPlanServices:TheannualfeesarebasedonthemarketvalueoftheIncludedAssetsandwillnotexceed1%.Theinitial feewill be based on themarket value of thePlan assets as calculated by the custodian orrecordkeeperoftheIncludedAssetsonthefirstbusinessdayofthe initial feeperiodandwillbedueonthefirstbusinessdayofthefeeperiod. If theservicestobeprovidedstartanytimeotherthanthefirstdayofaquarter,thefeewillbeproratedbasedonthenumberofdaysremainingintheinitialfeeperiod.Thereafter,thefeewillbebasedonthemarketvalueofthePlanassetsonthelastbusinessdayof theprevious feeperiod(withoutadjustments foranticipatedwithdrawalsbyPlanparticipantsorotheranticipatedorscheduledtransfersordistributionofassets)andwillbeduethefollowingbusinessday.IfthisAgreementisterminatedpriortotheendofthefeeperiod,


weshallbeentitledtoaproratedfeebasedonthenumberofdaysduringthefeeperiodserviceswereprovided.AnyunearnedfeesshallberefundedtothePlanorPlanSponsor.

ThecompensationofourfirmfortheservicesisdescribedindetailinScheduleAoftheERISAPlanAgreement.ThePlan isobligated topay the fees,however thePlanSponsormayelect topay thefees.Wedonotreasonablyexpecttoreceiveanyadditionalcompensation,directlyorindirectly,forits services under this Agreement. If additional compensation is received, we will disclose thiscompensation, the services rendered, and the payer of compensation. We will offset thecompensationagainstthefeesagreeduponunderthisAgreement.ClientPaymentofFeesHalfof theestimated fee forhourlyplanning isdueat the signingof theagreement;balancedueupon delivery of the completed plan. Initial fees for ongoing consulting services and wealthmanagementservicesaredueuponsigningtheagreementwiththemonthlyfeepayablewithin30daysofreceiptoftheinvoice.

We charge our advisory fees quarterly in advance or in arrears. In the event that you wish toterminateourservices,wewillrefundtheunearnedportionofouradvisoryfeetoyou.Youneedtocontactusinwritingandstatethatyouwishtoterminateourservices.Uponreceiptofyourletteroftermination,wewillproceedtocloseoutyouraccountandprocessapro-ratarefundofunearnedadvisoryfees.

AdditionalClientFeesChargedCustodiansmay charge transaction fees on purchases or sales of certainmutual funds, equities,exchange-traded funds or options. These charges may include Mutual Fund transaction fees,postage and handling and miscellaneous fees (fee levied to recover costs associated with feesassessed by self-regulatory organizations). These transaction charges are usually small andincidentaltothepurchaseorsaleofasecurity.Theselectionofthesecurityismoreimportantthanthenominalfeethatthecustodianchargestobuyorsellthesecurity.

Advisor, in its sole discretion, may charge a lesser investment advisory fee based upon certaincriteria(e.g.,historicalrelationship,typeofassets,anticipatedfutureearningcapacity,anticipatedfuture additional assets, dollar amounts of assets to be managed, related accounts, accountcomposition,negotiationswithclients,etc.).Formoredetailsonthebrokeragepractices,seeItem12ofthisbrochure.

OtherTypesofFees&ExpensesNon-Wrap feeClientswill incur transactioncharges for tradesexecuted in theiraccounts. Thesetransaction fees are separate fromour fees andwill be disclosedby the firm that the trades areexecuted through.Also, clientswill pay the following separately incurred expenses,whichwedonotreceiveanypartof:chargesimposeddirectlybyamutualfund,indexfund,orexchangetradedfundwhichshallbedisclosedinthefund’sprospectus(i.e., fundmanagementfeesandotherfundexpenses).

Wrap fee clients will receive our Form ADV, Part 2A, Appendix 1 (the “Wrap Fee ProgramBrochure”).Wrapfeeclientswillnotincurtransactioncostsfortrades.MoreinformationaboutthisisdisclosedinourseparateWrapFeeProgramBrochure.CommissionableSecuritiesSalesWedonotsellsecuritiesforacommissioninouradvisoryaccounts.

Item6:Performance-BasedFees&Side-By-SideManagement


We offer a program in which we share in the capital gains or capital appreciation of managedsecurities.ThisprogramisofferedonlytoQualifiedClientsandmustmeetcertainrequirementstobeabletoparticipateinbeingchargedperformancebasedfeeswhichinclude:

1. Anaturalpersonwho,or a company that, immediately after entering into the contracthasatleast$1,000,000underthemanagementoftheinvestmentadvisors;

2. Hasanetworth(together,inthecaseofanaturalperson,withassetsheldjointlywithaspouse) ofmore than $2,000,000. The persons’ residencemust not be included as anasset.

Theclientdoesnotpayanannualadvisoryfeebasedontheassetsundermanagement.Theonlyfeechargedisapercentageoftheyearlyportfolioperformance.Totheextentthatwechargeaperformance–basedfee,theperformance-basedfeewillcomplywiththerequirementsofSection205andRule205-3undertheInvestmentAdvisersActof1940.

The simultaneous management of these different types of client accounts, with different feestructures, creates certain conflicts of interest, as the fees for themanagement of some clienttypesarehigherthanforothers.Nevertheless,whenmanagingtheassetsoftheseaccounts,wehaveadutytotreatallaccountsfairlyandequitablyovertime.

Additionally,sinceperformance-basedfeesrewardusforstrongperformanceinaccountswhicharesubjecttosuchfees,wemayhaveanincentivetofavortheseaccountsoverthosethathaveonlyasset-basedfees(i.e., feesbasedsimplyontheamountofassetsundermanagement inanaccount)withrespecttoareassuchastradingopportunities,tradeallocation,andallocationofnewinvestmentopportunities.

Tomitigatetheconflict,werepresentsthat it isnotour intent totradeaclient’saccount inanirresponsible, unethical or baseless manner, or to assume unnecessary risk given potentialperceivedreward.Wewillneverknowinglyorintentionallybreachthefiduciarydutyweowetoa client, and we believe the incentive or performance fee portion of its compensation aligns,rather than divides, the interests of clients and us in addition, the clientmay choose to placetheiraccountintheadvisoryfeeonlyprogram.

Item7:TypesofClients&AccountRequirementsWehavethefollowingtypesofclients:

• Individuals&HighNetWorthIndividuals;and• PensionandProfitSharingPlans• Small&MediumSizedBusinesses

Wedonotimposerequirementsforopeningandmaintainingaccountsorotherwiseengagingus.

Item8:MethodsofAnalysis,InvestmentStrategies&RiskofLoss

MethodsofAnalysisWeusethe followingmethodsofanalysis in formulatingour investmentadviceand/ormanagingclientassets:

• Charting;


• Cyclical;• Fundamental;• Technical.

InvestmentStrategiesWeUseWe use the following strategies in managing client accounts, provided that such strategies areappropriate to theneedsof the client and consistentwith the client's investmentobjectives, risktolerance,andtimehorizons,amongotherconsiderations:

• LongTermPurchases(SecuritiesHeldAtLeastaYear);• ShortTermPurchases(SecuritiesSoldWithinaYear);• Trading(SecuritiesSoldWithin30Days);• MarginTransactions;• OptionWriting,includingCoveredOptions,UncoveredOptionsorSpreadingStrategies.

RiskofLossInvestinginsecuritiesinvolvesriskoflossthatclientsshouldbepreparedtobear.Whilethestockmarket may increase and your account(s) could enjoy a gain, it is also possible that the stockmarketmaydecreaseandyouraccount(s)couldsuffera loss. It is importantthatyouunderstandthe risks associated with investing in the stock market, are appropriately diversified in yourinvestments,andaskusanyquestionsyoumayhave.DescriptionofMaterial,SignificantorUnusualRisksWe generally invest client’s cash balances in money market funds, FDIC Insured Certificates ofDeposit, high-grade commercial paper and/or government backed debt instruments. Ultimately,we try to achieve the highest return on our client’s cash balances through relatively low-riskconservative investments. In most cases, at least a partial cash balance will be maintained in amoneymarketaccount so thatour firmmaydebit advisory fees forour services related toAssetManagementasapplicable.

Item9:DisciplinaryInformationTherearenolegalordisciplinaryeventsthatarematerialtotheevaluationofouradvisorybusinessortheintegrityofourmanagement.

Item10:OtherFinancialIndustryActivities&Affiliations

Representativesofour firmare insuranceagents.Theymayoffer insuranceproductsandreceivecustomary fees as a result of insurance sales. A conflict of interestmay arise as these insurancesalesmaycreateanincentivetorecommendproductsbasedonthecompensationadviserand/orour supervised personsmay earn. The conflict ismitigated by the fact that we have a fiduciaryresponsibilitytoplacethebestinterestoftheclientfirstandtheclientisnotrequiredtopurchaseanyproductsor services.Clientshave theoption topurchase theseproductsor services throughanotherinsuranceagentoftheirchoosing.

Item11:CodeofEthics,ParticipationorInterestinClientTransactions&PersonalTrading


An investmentadviser isconsidereda fiduciaryandour firmhasa fiduciaryduty toallclients.Asafiduciary,itisaninvestmentadviser’sresponsibilitytoprovidefairandfulldisclosureofallmaterialfacts and to act solely in the best interest of each of our clients at all times. Our fiduciary duty isconsidered thecoreunderlyingprinciple forourCodeofEthicswhichalso includes InsiderTradingandPersonalSecuritiesTransactionsPoliciesandProcedures.IfaclientorapotentialclientwishestoreviewourCodeofEthicsinitsentirety,acopywillbeprovideduponrequest.

We recognize that the personal investment transactions of members and employees of our firmdemandtheapplicationofahighCodeofEthicsandrequirethatallsuchtransactionsbecarriedoutinawaythatdoesnotendangertheinterestofanyclient.Atthesametime,webelievethatifinvestmentgoalsaresimilarforclientsandformembersandemployeesofourfirm,itislogicalandevendesirablethattherebecommonownershipofsomesecurities.

Therefore, inordertopreventconflictsof interest,wehaveinplaceasetofprocedures(includingapre-clearingprocedure)withrespecttotransactionseffectedbyourmembers,officersandemployeesfortheirpersonalaccounts1.Inordertomonitorcompliancewithourpersonaltradingpolicy,wehavea quarterly securities transaction reporting system for all of our associates. Upon employment oraffiliationandat leastannuallythereafter,allsupervisedpersonswillsignanacknowledgementthattheyhaveread,understand,andagreetocomplywithourCodeofEthics.

Neitherour firmnorarelatedpersonrecommends toclients,orbuysorsells forclientaccounts,securitiesinwhichourfirmorarelatedpersonhasamaterialfinancialinterest.Relatedpersonsofourfirmmaybuyorsellsecuritiesandotherinvestmentsthatarealsorecommendedtoclients.Inorder tominimize thisconflictof interest,ourrelatedpersonswillplaceclient interestsaheadoftheirowninterestsandadheretoourfirm’sCodeofEthics.Further,ourrelatedpersonswillrefrainfrombuyingorsellingthesamesecuritiespriortobuyingorsellingforourclientsinthesameday.Ifrelatedpersons’accountsareincludedinablocktrade,ourrelatedperson’saccountswillbetradedinthesamemannereverytime.

Our firmand supervisedpersonsmust conduct business in anhonest, ethical, and fairmanner andavoidallcircumstancesthatmightnegativelyaffectorappeartoaffectourdutyofcompleteloyaltytoallclients.ThisdisclosureisprovidedtogiveallclientsasummaryofourCodeofEthics.

Item12:BrokeragePractices

SelectingaBrokerageFirmWeseektorecommendacustodian/brokerwhowillholdyourassetsandexecutetransactionsonterms that areoverallmost advantageouswhen compared toother availableproviders and theirservices.Weconsiderawiderangeoffactors,including,amongothers,these:

• Abilitytomaintaintheconfidentialityoftradingintentions• Timelinessofexecution• Timelinessandaccuracyoftradeconfirmations• Liquidityofthesecuritiestraded

1Forpurposesofthepolicy,ourassociate’spersonalaccountgenerallyincludesanyaccount(a)inthenameofourassociate,his/herspouse,his/herminorchildrenorotherdependentsresidinginthesamehousehold,(b)forwhichourassociateisatrusteeorexecutor,or(c)whichour associate controls, including our client accountswhich our associate controls and/or amember of his/her household has a direct orindirectbeneficialinterestin.


• Willingnesstocommitcapital• Abilitytoplacetradesindifficultmarketenvironments• Researchservicesprovided• Abilitytoprovideinvestmentideas• Executionfacilitationservicesprovided• Recordkeepingservicesprovided• Custodyservicesprovided• Frequencyandcorrectionoftradingerrors• Abilitytoaccessavarietyofmarketvenues• Expertiseasitrelatestospecificsecurities• Financialcondition• Businessreputation

With this in consideration, our firm has an arrangement with LPL Financial and BettermentInstitutional. LPL Financial and Betterment Institutional offer to independent investment advisersnon-soft dollar services, which include custody of securities, trade execution, clearance andsettlementof transactions.Wereceivenon-soft-dollarservicessuchasresearchandadministrativefunctions including portfolio pricing, account statement generation and fee calculations, which areintended tosupportour firm inconductingbusinessand inserving thebest interestsofourclients.TheseservicesdonotincentivizeustorecommendLPLFinancialorBettermentInstitutional.Ourrecommendation of LPLFinancial orBetterment Institutional to our clients is based on our clients’interestsinreceivingbestexecutionandthelevelofcompetitive,professionalservicesLPLFinancialorBetterment Institutional provides. Our firm does not receive client brokerage commissions (ormarkupsormarkdowns)toobtainresearchorotherproductsorservices.Neitherourfirmreceivebrokeragecommissionsforclientreferrals.Wedonotallowclient-directedbrokerage,astradesinour clients’ accounts are executed throughLPLFinancial andBetterment Institutional, a qualifiedcustodian and broker-dealer; neither do we direct client transactions to LPL Financial orBettermentInstitutionalinreturnforsoft-dollarbenefits.

A retirement or ERISA plan clientmay direct all or part of portfolio transactions for its accountthroughaspecificbrokerordealerinordertoobtaingoodsorservicesonbehalfoftheplan.Suchdirection ispermittedprovided that thegoodsand servicesprovidedare reasonableexpensesoftheplanincurredintheordinarycourseofitsbusinessforwhichitotherwisewouldbeobligatedand empowered to pay. ERISA prohibits directed brokerage arrangements when the goods orservicespurchasedarenotfortheexclusivebenefitoftheplan.Consequently,wewillrequestthatplan sponsors who direct plan brokerage provide us with a letter documenting that thisarrangementwillbefortheexclusivebenefitoftheplan.We perform investment management services for various clients. There are occasions on whichportfolio transactionsmaybe executed as part of concurrent authorizations to purchase or sell thesame security for numerous accounts served by our firm, which involve accounts with similarinvestment objectives. Although such concurrent authorizations potentially could be eitheradvantageousordisadvantageoustoanyoneormoreparticularaccounts,theyareaffectedonlywhenwebelieve that todosowillbe in thebest interestof theeffectedaccounts.Whensuchconcurrentauthorizationsoccur,theobjectiveistoallocatetheexecutionsinamannerwhichisdeemedequitabletotheaccounts involved. Inanygivensituation,weattempttoallocatetradeexecutions inthemostequitable manner possible, taking into consideration client objectives, current asset allocation andavailability of funds using price averaging, proration and consistently non-arbitrary methods ofallocation.


Transactions for each client account generally will be effected independently, unless we decide topurchaseorsellthesamesecuritiesforseveralclientsatapproximatelythesametime.Wemay,butare not obligated to, combine or "batch" such orders to obtain “best execution”, to negotiatemorefavorablecommissionrates,toallocatefairlyamongtheclients’differencesinpricesandcommissionsorothertransactioncoststhatmighthavebeenobtainedhadsuchordersbeenplacedindependently.Underthisprocedure,transactionswillbeaveragedastopriceandwillbeallocatedamongourclientsinproportiontothepurchaseandsaleordersplacedforeachclientaccountonanygivenday.Totheextent thatwedetermine toaggregate clientorders for thepurchaseor saleof securities, includingsecuritiesinwhichourprincipals(and/orassociatedpersons)mayinvest,weshallgenerallydosoinaccordance with the parameters set forth in SEC No-Action Letter, SMC Capital, Inc. We shall notreceiveanyadditionalcompensationorremunerationasaresultof theaggregation.Whenreferringclientstodealers,wewillonlyreferclientstodealersregisteredinstateswheretheclientsreside.

Ifrequested,wewillarrangefortheexecutionofsecuritiesbrokeragetransactionsfortheaccountthroughbroker-dealers thatwereasonablybelievewillprovide"bestexecution". Inseeking“bestexecution”, thedeterminative factor is not the lowest possible commission cost, butwhether thetransactionrepresentsthebestqualitativeexecution.Wealsotakeintoconsiderationthefullrangeofabroker-dealer'sservicesincludingexecutioncapability,commissionrates,andresponsiveness.Although we will seek competitive commission rates, it may not necessarily obtain the lowestpossiblecommissionratesforaccounttransactions.Over-the-Counter(OTC)securitiestransactionsforourclientsaregenerallyeffectedbasedon two(2)separatebroker-dealers: (1)a “dealer”or“principal” acting as market-maker; and (2) the executing broker-dealer that acts in an agencycapacityfortheclient’saccount.Dealersexecutingprincipaltransactionstypicallyincludeamark-up/down,whichisincludedintheofferorbidpriceofthesecuritiespurchasedorsold.Inadditiontothedealermark-up/down,theclientmayalsoincurthetransactionfeeimposedbytheexecutingbroker-dealer.Wedonotreceiveanyportionofthedealermark-up/downortheexecutingbroker-dealertransactionfee.BettermentInstitutionalWedonotmaintaincustodyofyourassetsonwhichweadvise,althoughwemaybedeemedtohavecustodyofyourassetsifyougiveustheauthoritytowithdrawadvisoryfeesfromyouraccount(seeItem15–Custody,below).Yourassetsmustbemaintainedinanaccountata“qualifiedcustodian,”generallyabroker-dealer.WemayrecommendthatourclientsuseMTG,LLCdbaBettermentSecurities(“BettermentSecurities”),aregisteredbroker-dealer,memberSIPC,asthequalifiedcustodian.WeareindependentlyownedandoperatedandarenotaffiliatedwithBettermentSecurities.BettermentSecuritieswillholdyourassetsinabrokerageaccountandbuyandsellsecuritieswhenweand/oryouinstructthemto.WhilewemayrecommendthatyouuseBettermentSecuritiesascustodian/broker,youwilldecidewhethertodosoandwillopenyouraccountwithBettermentSecuritiesbyenteringintoanaccountdirectlywiththem.Wedonotopentheaccountforyou,althoughwemayassistyouindoingso.IfyoudonotwishtoplaceyourassetswithBettermentSecurities,thenwecannotmanageyouraccountonBettermentInstitutional.Forourclient’saccountsthatBettermentSecuritiesmaintains,BettermentSecuritiesgenerallydoesnotchargeyouseparatelyforcustodyservices,butiscompensatedaspartoftheBettermentInstitutional(definedbelow)platformfee,whichisapercentageofthedollaramountofassetsintheaccountinlieuofcommissions.WehavedeterminedthathavingBettermentSecuritiesexecutetradesisconsistentwithourdutytosee“bestexecution”ofyourtrades.Bestexecutionmeansthemostfavorabletermsforatransactionbasedonallrelevantfactors,includingthoselistedabove(see“Howweselectbrokers/custodians”).


BettermentSecuritiesservesasbroker/dealertoBettermentInstitutional,aninvestmentandadviceplatformservingindependentinvestmentadvisoryfirmslikeus(“BettermentInstitutional”).BettermentInstitutionalalsomakesavailablevarioussupportservices,whichmaynotbeavailabletoBetterment’sretailcustomers.Someofthoseserviceshelpusmanageoradministerourclients’accounts,whileothershelpusmanageandgrowourbusiness.BettermentInstitutional’ssupportservicesaregenerallyavailableonanunso0licitedbasis(wedon’thavetorequestthem)andatnochargetous.FollowingisamoredetaileddescriptionofBettermentInstitutional’ssupportservices:

1. SERVICESTHATBENEFITYOU.BettermentInstitutionalincludesaccesstoarangeofinvestmentproducts,executionofsecuritiestransactions,andcustodyofclientassetsthroughBettermentSecurities.BettermentSecurities’servicesdescribedinthisparagraphgenerallybenefityouandyouraccount.

2. SERVICESTHATMAYNOTDIRECLTLYBENEFITYOU.BettermentInstitutionalalsomakesavailabletousotherproductsandservicesthatbenefitus,butmaynotdirectlybenefityouoryouraccount.Theseproductsandservicesassistusinmanagingandadministeringourclient’saccounts,suchassoftwareandtechnologythatmay:

- Assistwithback-officefunctions,recordkeeping,andclientreportingofourclients’

accounts.- Provideaccesstoclientaccountdata(suchasduplicatetradeconfirmationsand

accountstatements).- Providepricingandothermarketdata.- Assistwithback-officefunctions,recordkeeping,andclientreporting.

3. SERVICESTHATGENERALLYBENEFITONLYUS.ByusingBettermentInstitutional,we

willbeofferedotherservicesintendedtohelpusmanageandfurtherdevelopourbusinessenterprise.Theseservicesinclude:- Educationalconferencesandevents.- Consultingontechnology,compliance,legal,andbusinessneeds.- Publicationsandconferencesonpracticemanagementandbusinesssuccession.

TheavailabilityoftheseservicesfromBettermentInstitutionalbenefitsusbecausewedonothavetoproduceorpurchasethem.Inaddition,wedon’thavetopayforBettermentSecurities’services.TheseservicesmaybecontingentuponuscommittingacertainamountofbusinesstoBettermentSecuritiesinassetsincustody.WemayhaveanincentivetorecommendthatyoumaintainyouraccountwithBettermentSecurities,basedonourinterestinreceivingBettermentInstitutionalandBettermentSecurities’servicesthatbenefitourbusinessratherthanbasedonyourinterestinreceivingthebestvalueincustodyservicesandthemostfavorableexecutionofyourtransactions.Thisisapotentialconflictofinterest.Webelieve,however,thatourselectionofBettermentSecuritiesascustodianandbrokerisinthebestinterestofourclients.Ourselectionisprimarilysupportedbythescope,quality,andpriceofBettermentSecurities’services(see“howweselectbrokers/custodians”)andnotonlyus.Item13:ReviewofAccountsorFinancialPlans


We review accounts on at least a quarterly basis for our clients subscribing to our AssetManagementservices.Thenatureofthesereviewsistolearnwhetherclients’accountsareinlinewith their investment objectives, appropriately positioned based on market conditions, andinvestmentpolicies,ifapplicable.Wedonotprovidewrittenreportstoclients,unlessaskedtodoso. Verbal reports to clients take place on at least an annual basiswhenwe contact clientswhosubscribe toourAssetManagementservice.OnlyourChiefComplianceOfficer,TravisSickle,willconductreviews.Wemayreviewclientaccountsmorefrequentlythandescribedabove.Amongthefactorswhichmaytriggeranoff-cyclereviewaremajormarketoreconomicevents,theclient’slifeevents,requestsbytheclient,etc.

Financial Planning andWealthManagement clientsdonot receive reviewsof theirwrittenplansunless they take action to schedule a financial consultationwith us.We do not provide ongoingservicestofinancialplanningclients,butarewillingtomeetwithsuchclientsupontheirrequesttodiscussupdatesto theirplans,changes in theircircumstances,etc.FinancialPlanningandWealthManagement clients do not receive written or verbal updated reports regarding their financialplans.OngoingFinancialPlanningandWealthManagementisbasedonaretainerservicewhichweprovideservicesonanasneededbasis.

Item14:ClientReferrals&OtherCompensationInvestmentorBrokerageDiscretionWeprovidediscretionaryportfoliomanagementserviceswheretheinvestmentadviceprovidediscustom tailored tomeet theneedsand investmentobjectivesof each client. Accordingly,weareauthorizedtoperformvariousfunctions,attheclient’sexpense,withoutfurtherapprovalfromtheclient.Suchfunctionsincludethedeterminationofsecuritiestobepurchased/soldandtheamountof securities to be purchased/sold. We do not have discretionary authority over the broker ordealertobeused.SuggestionofBrokerstoClientsWe shall recommend the use of a particular broker-dealer such as LPL Financial. Our generalpoliciesrelativetotheexecutionofclientsecuritiesbrokeragetransactionsareasfollows:ExecutionofBrokerageTransactions(whenapplicable)Inseeking“bestexecution”,thedeterminativefactorisnotthelowestpossiblecommissioncost,butwhether the transaction represents the best qualitative execution. LPL Financial also takes intoconsideration the full range of a broker-dealer's services including execution capability,commission rates, and responsiveness.AlthoughLPLFinancialwill seek competitive commissionrates, it may not necessarily obtain the lowest possible commission rates for all accounttransactions.

Over-the-Counter (OTC) securities transactions are generally effected based on two (2) separatebroker-dealers:(1)a“dealer”or“principal”actingasmarket-maker;and(2)theexecutingbroker-dealerthatacts inanagencycapacity.Dealersexecutingprincipal transactionstypically includeamark-up/down,which is included in theofferorbidpriceof the securitiespurchasedor sold. Inadditiontothedealermark-up/down,theclientmayalsoincurthetransactionfeeimposedbytheexecuting broker-dealer. We do not receive any portion of the dealer mark-up/down or theexecutingbroker-dealertransactionfee.


Transactions for each client accountwill be effected independently.We individually review eachclient’saccountandplacetradesaccordingly.Despitebeingpurchasedorsoldatapproximatelythesametimeallclients’transactionswillincurindividualtransactionfees.AdditionalCompensationWemayreceivefromLPLFinancialoramutual fundcompany,withoutcostand/oratadiscountnonsoft-dollarsupportservicesand/orproducts, toassistustobettermonitorandserviceclientaccounts maintained at such institutions. Included within the support services wemay receiveinvestment-relatedresearch,pricing informationandmarketdata,softwareandother technologythat provide access to client account data, compliance and/or practice management-relatedpublications, discounted or gratis consulting services, discounted and/or gratis attendance atconferences,meetings, and other educational and/or social events,marketing support, computerhardware and/or software and/or other products used by us to assist us in our investmentadvisorybusinessoperations.

Ourclientsdonotpaymoreforinvestmenttransactionseffectedand/orassetsmaintainedatLPLFinancialasresultofthisarrangement.ThereisnocommitmentmadebyustoLPLFinancialoranyotherinstitutionasaresultoftheabovearrangement.Wereceiveanon-economicbenefitfromBettermentInstitutionalandBettermentSecuritiesintheform of the support products and services it makes available to us and other independentinvestment advisors whose clients maintain their accounts at Betterment Securities. Theseproductsandservices,howtheybenefitus,andtherelatedconflictsofinterestaredescribedaboveinItem12–BrokeragePractices.TheavailabilitytousofBettermentInstitutionalandBettermentSecurities’ products and services is not based on us giving particular investment advice, such asbuyingparticularsecuritiesforourclients.ReferralFeesWe may pay referral fees (non-commission based) to independent solicitors (non-registeredrepresentatives) for the referral of their clients to our firm in accordance with relevant statestatutesandrules.Suchreferral feerepresentsashareofour investmentadvisory feechargedtoour clients. This arrangementwill not result in higher costs to you. In this regard, wemaintainSolicitorsAgreementsincompliancewithrelevantstatestatutesandrulesandapplicablestateandfederal laws. All clients referred by Solicitors to our firm will be given full written disclosuredescribingthetermsandfeearrangementsbetweenourfirmandSolicitor(s).Incaseswherestatelawrequireslicensureofsolicitors,weensurethatnosolicitationfeesarepaidunlessthesolicitorisregisteredasaninvestmentadviserrepresentativeofourfirm.Ifwearepayingsolicitationfeesto another registered investment adviser, the licensure of individuals is the other firm’sresponsibility.


Item15:CustodyUndergovernmentregulations,wearedeemedtohavecustodyofyourassets,if,forexample,youauthorize us to instruct Betterment Securities to deduct our advisory fees directly from youraccount. BettermentSecuritiesmaintainsactualcustodyofyourassets. YourstatementswillbeavailableforyoutoreviewontheactivitysectionofyourBettermentInstitutionalaccountportal.Youwill also receiveaccountstatementsdirectly fromBettermentSecuritiesat leastquarterlyatwww.bettermentsecurities.com. You should carefully review those statements promptly. Uponopeninganaccountwithaqualifiedcustodianonaclient'sbehalf,wepromptlynotifytheclientinwriting of the qualified custodian's contact information. If we decide to also send accountstatements toclients, suchnoticeandaccountstatements includea legendthatrecommends thatthe client compare the account statements received from the qualified custodian with thosereceivedfromourfirm.

We encourage our clients to raise any questionswith us about the custody, safety or security oftheir assets. The custodians we do business with will send you account statements listing youraccountbalance(s),transactionhistoryandanyfeedebitsorotherfeestakenoutofyouraccount.

Item16:InvestmentDiscretion

Clientshavetheoptionofprovidingourfirmwithinvestmentdiscretionontheirbehalf,pursuantto an executed investment advisory client agreement. By granting investment discretion,we areauthorized to execute securities transactions, which securities are bought and sold, the totalamounttobeboughtandsold,andthecostsatwhichthetransactionswillbeeffected.Limitationsmaybeimposedbytheclientintheformofspecificconstraintsonanyoftheseareasofdiscretionwithourfirm’swrittenacknowledgement.

Item17:VotingClientSecuritiesWe do not accept proxy authority to vote client securities. Clients will receive proxies or othersolicitationsdirectlyfromtheircustodianoratransferagent.Intheeventthatproxiesaresenttoourfirm,wewillforwardthemontoyouandaskthepartywhosentthemtomailthemdirectlytoyou in the future. Clients may call, write or email us to discuss questions theymay have aboutparticularproxyvotesorothersolicitations.


Item18:FinancialInformation

WearenotrequiredtoprovidefinancialinformationinthisBrochurebecause:

• Wedonot require theprepaymentofmore than$500 in fees and sixormoremonths inadvance.

• Wedonottakecustodyofclientfundsorsecurities.• We do not have a financial condition or commitment that impairs our ability to meet

contractualandfiduciaryobligationstoclients.

Wehaveneverbeenthesubjectofabankruptcyproceeding.

Item19:RequirementsforState-RegisteredAdvisersEducationandbusinessbackground,includinganyoutsidebusinessactivitiesanddisclosableeventsforallmanagementandsupervisedpersonscanbefoundintheSupplementtothisBrochure(Part2BofFormADVPart2)

MaterialRelationshipMaintainedbythisAdvisoryBusinessorManagementPersonswithIssuersofSecuritiesNonetoReport


Item1:CoverPageforPart2BofFormADV:BrochureSupplement

March23,2015

TravisSickle

4511NorthHimesAveSuite200

Tampa,FL33614www.SickleHunter.com

FirmContact:TravisSickle

ChiefComplianceOfficerThisbrochuresupplementprovides informationaboutMr.Sickle that supplementsourbrochure.You shouldhave receiveda copyof thatbrochure.Please contact ourChiefComplianceOfficer ifyoudidnotreceiveSickleHunterFinancialAdvisors, Inc.’sbrochureor ifyouhaveanyquestionsaboutthecontentsofthissupplement.


Additional information about Mr. Sickle (CRD #5235232) is available on the SEC’s website atwww.adviserinfo.sec.gov.BROCHURESUPPLEMENT(PART2BOFFORMADV)SupervisedPersonBrochurePrincipalExecutiveOfficer

TravisSickleYearofBirth:1983

Item2:EducationalBackground&BusinessExperienceEducationalBackground:

• 2005;UniversityofNorthCarolina,ChapelHill;BachelorofArtsinManagement&SocietyBusinessBackground:

• 01/2011–Present SickleHunterFinancialAdvisors,Inc.;Owner/Chief ComplianceOfficer/InvestmentAdvisorRepresentative

• 12/2014–Present SickleHunterInsuranceAdvisors,Inc.;InsuranceAgent• 11/2014–PresentKTLCProperties,LLC;owner • 01/2011–12/2014 LPLFinancial;RegisteredRepresentative• 01/2011–12/2014 IndependentFinancialPartners;InvestmentAdvisor• 10/2006–12/2010 AmeripriseFinancial;FinancialAdvisor• 08/2005–09/2006 FergusonEnterprises;ShowroomConsultant• 08/2003–07/2005 UniversityofNorthCarolina–ChapelHill;Student

Exams,Licenses&OtherProfessionalDesignations:

• 2006:Series7&66Exams• 2006:Life,Health,Long-TermCare,DisabilityInsuranceLicensed(FL)• 2012:CertifiedFinancialPlanner(CFP®)• 2009:AccreditedAssetManagementSpecialist(AAMS®)• 2007:CharteredRetirementPlanningCounselor(CRPC®)• 2014:RetirementIncomeCertifiedProfessional®(RICP®)

TheCollege for Financial Planning® awards theAAMS®designation to studentswho successfullycomplete the program, pass the final examination and comply with the Code of Ethics, whichincludes agreeing to abide by the Standards of Professional Conduct and Terms and Conditions.Applicantsmust alsodiscloseof any criminal, civil, self-regulatoryorganization, or governmentalagency inquiry, investigation, or proceeding relating to their professional or business conduct.Conferment of the designation is contingent upon the College for Financial Planning’s review ofmatters either self-disclosed or which are discovered by the College that are required to bedisclosed.Continued use of theAAMS®designation is subject to ongoing renewal requirements. Every twoyearsindividualsmustrenewtheirrighttocontinueusingtheAAMS®designationbycompleting16hoursofcontinuingeducationandreaffirmingtoabideby theStandardsofProfessionalConduct,Terms and Conditions, and self-disclose any criminal, civil, self-regulatory organization, or


governmentalagencyinquiry,investigation,orproceedingrelatingtotheirprofessionalorbusinessconduct.CERTIFIEDFINANCIALPLANNER™(CFP®)certificationisobtainedbycompletinganadvancedcollege-level courseof studyaddressing the financialplanningsubjectareas that theCFPboard’s studieshave determined as necessary for the competent and professional delivery of financial planningservices,acomprehensivecertificationexam(administered in10hoursovera2dayperiod)andagreeingtobeboundbytheCFPboard’sstandardofprofessionalconduct.AsaprerequisitetheIARmusthaveabachelor’sdegreefromaregionallyaccreditedUnitedStatescollegeoruniversity(orforeignuniversityequivalent)andhaveat least3yearsof full time financialplanningexperience(orequivalentmeasuredat2,000hoursperyear).Thisdesignationrequires30hoursofcontinuingeducationevery2yearsandrenewinganagreementtobeboundbythestandardsofprofessionalconduct.

TheCRPC®isofferedbyTheCollegeforFinancialPlanning®. TheCRPC®Programfocusesonthepre-andpost-retirementneedsof individuals.Enrollment intheprogramguidesyouthroughtheretirementprocess,addressingissuessuchasestateplanningandassetmanagement.TheCollegefor Financial Planning® awards the Chartered Retirement Planning CounselorSM and CRPC®designation to studentswho: successfully complete theprogram;pass the final examination; andcomplywiththeCodeofEthics,whichincludesagreeingtoabidebytheStandardsofProfessionalConductpromulgatedbyTheCollegeforFinancialPlanning®.Applicantsmust alsodiscloseof any criminal, civil, self-regulatoryorganization, or governmentalagency inquiry, investigation, or proceeding relating to their professional or business conduct.Conferment of the designation is contingent upon the College for Financial Planning’s review ofmatters either self-disclosed or which are discovered by the College that are required to bedisclosed.Successful students receive a certificate and are granted the right to use the designation oncorrespondenceandbusinesscardsforatwo-yearperiod.Continued use of the CRPC® designation is subject to ongoing renewal requirements. Every twoyearsindividualsmustrenewtheirrighttocontinueusingtheCRPC®designationby:completing16hoursofcontinuingeducationandreaffirmingtoabideby theStandardsofProfessionalConduct,Terms and Conditions, and self-disclose any criminal, civil, self-regulatory organization, orgovernmentalagencyinquiry,investigation,orproceedingrelatingtotheirprofessionalorbusinessconduct.

RetirementIncomeCertifiedProfessional®-(RICP®)certification:certificationisawardedbyTheAmericanCollegeofFinancialServices,candidatesmust:

• CompleteRICP®courseworkwithinfivemonthsfromthedateofinitialenrollment.

• Completethreein-depthonlinecourses.

• Meettheexperiencerequirements:Threeyearsoffull-timebusinessexperiencewithinthe five yearspreceding thedate of the award.Anundergraduateor graduatedegreefromanaccreditededucationalinstitutionqualifiesasoneyearofbusinessexperience.

• SignandagreetoabidebyaCodeofEthics.

• PassanexamadministeredbyPearsonVUETestingCenter.Minimumtestscore70%.


• WhenyouachievetheRICP®designation,youaresubjecttothePACERecertificationProgram,eitherearning15credithoursofeducationalactivitiesinsubjectmatterthatisacceptabletoPACERecertificationforthereportingperiodJanuary1,2014throughDecember31,2015,andforeverytwo-yearperiodthereafter.

Item3:DisciplinaryInformation2

TherearenolegalordisciplinaryeventsmaterialtotheevaluationofMr.Sickle.

Item4:OtherBusinessActivitiesMr.Sickle isa licensed insuranceagentwithSickleHunterInsuranceAdvisors, Inc. Fromtimetotime he may offer insurance products and receive normal and customary fees as a result ofinsurancesales.

This represents a conflict of interest because it gives an incentive to recommend products andservicesbasedonthecommissionreceived.ThisconflictismitigatedbythefactthatMr.Sicklehasafiduciaryresponsibilitytoplacethebestinterestoftheclientfirstandtheclientsarenotrequiredtopurchaseanyproductsorservices.Clientshavetheoptiontopurchasetheseproductsorservicesthroughanotherinsuranceagentoftheirchoosing.

Item5:AdditionalCompensation

Mr. Sickle receives compensation in his capacity as an insurance agent and owner of KTLCProperties,LLC.

Item6:Supervision

Mr.SickleisthesoleprincipalandChiefComplianceOfficerandassuchhasnointernalsupervisionplaced over him. He is responsible for all supervision and formulation and monitoring ofinvestmentadviceofferedtoclients.Hewilladheretothepoliciesandproceduresasdescribedinthefirm’sComplianceManualandheis,however,boundbyourfirm’sCodeofEthics.

Item7:RequirementsforState-RegisteredAdvisers

Mr. Sickle has not been involved in any arbitration claim alleging damages in excess of $2,500.Furthermore, he has neither been involved in nor found liable in any civil, self-regulatoryorganization,oradministrativeproceedingnorhasbeenthesubjectofanybankruptcypetitions.

2Note:Ourfirmmay,undercertaincircumstances,rebutthepresumptionthatadisciplinaryeventismaterial.Ifaneventisimmaterial,we are not required to disclose it. When we review a legal or disciplinary event involving the advisor to determine whether it isappropriatetorebutthepresumptionofmateriality,weconsiderallofthefollowingfactors:(1)theproximityofadvisortotheadvisoryfunction;(2)thenatureoftheinfractionthatledtothedisciplinaryevent;(3)theseverityofthedisciplinarysanction;and(4)thetimeelapsedsince thedateof thedisciplinaryevent. Ifweconclude that thematerialitypresumptionhasbeenovercome,weprepareandmaintainafilememorandumofourdeterminationinourrecords.WefollowSECrule204-2(a)(14)(iii)andsimilarstaterules.

part 2a of form adv: firm brochure item 1: cover page february 29, 2016 · 2016. 3. 10. ·...

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