moss adams wealth advisors disclosure brochure march 2017 · formalizing your plan is an important...

This brochure provides information about the qualifications and business practices of Moss AdamsWealthAdvisors. If you have any questions about the content of this brochure, please contact us [email protected] or (206)302‐6717. The information in this brochure has not been approved orverifiedbytheUnitedStatesSecuritiesandExchangeCommissionorbyanystatesecuritiesauthority.

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MaterialChanges

Thisbrochure,datedMarch2017,includesthebelowmaterialchangessinceMossAdamsWealth

AdvisorsLLC’slastupdateinMarch2016.MossAdamsWealthAdvisors’clientsmayrequestafull

copyofthelatestversionofthisbrochureatanytimebycontactingyouradvisororGidgetFurness,

ChiefComplianceOfficer,attheSeattleoffice.AdditionalinformationaboutMossAdamsWealth

AdvisorsisalsoavailableontheSEC’swebsiteatwww.adviserinfo.sec.gov.Pleasenote:

RegistrationwiththeSECdoesnotimplyacertainlevelofskillortraining.

MaterialChanges:

InAugust2016,EricaCoogantookoverasPartnerinChargeofMossAdamsWealthAdvisorsLLC.ShetookoverleadershipfromRebeccaPomering,whoassumedtheChiefPracticeOfficerpositionforMossAdamsLLP.

Ms.CooganhasbeenwithMossAdamsWealthAdvisorsforover18years,leadingthepracticeinthePugetSoundregionformuchofhertenure.ShehaschairedtheinvestmentteamandcurrentlyservesasamemberoftheMossAdamspartnerreviewcommittee.Inhernewrole,CooganisresponsibleforthegrowthofMossAdamsWealthAdvisors,includingstrategicplanning,salesandmarketing,teamdevelopmentandmergersandacquisitions.

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AdditionalOfficeLocationsEverett2707ColbyAve,Suite801Everett,WA98201Phone:425.259.7227

ManhattanBeach2121RosecransAvenueSuite2390ElSegundo,CA90245(310)295‐3733Phone:310.616.3460

Portland805SWBroadway,Suite1200Portland,OR97205Phone:503.478.2295

Sacramento(CACentralValley)3100ZinfandelDrive,5thFloorSacramento,CA95670Phone:916.503.8100

SantaRosa3558RoundBarnBlvd,Suite300SantaRosa,CA95403Phone:707.527.0800

SiliconValley635CampbellTechnologyParkwayCampbell,CA95008(408)558‐7527

Tacoma1301AStreet,Suite600Tacoma,WA98402Phone:253.572.4100

WoodlandHills21700OxnardStSuite300WoodlandHills,CA91367Phone:818.577.1900

Yakima402E.YakimaAve,Suite110Yakima,WA98907Phone:509.248.7750

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TableofContentsADVISORY BUSINESS 5

Investment Management Services 5

Custom Fixed Income Management 7

Personal Financial Planning 8

Investment Consulting Services 9

Insurance Management and Consulting 10

FEES AND COMPENSATION 12

Termination 16

Bundled Pricing 16

TYPES OF CLIENTS 16

METHODS OF ANALYSIS, INVESTMENT STRATEGIES AND RISK OF LOSS 16

DISCIPLINARY INFORMATION 19

OTHER FINANCIAL INDUSTRY ACTIVITIES OR AFFILIATIONS 19

CODE OF ETHICS, PARTICIPATION OR INTEREST IN CLIENT TRANSACTIONS AND PERSONAL TRADING 21

BROKERAGE PRACTICES 22

General 22

Custodial Brokerage 23

Best Execution 24

Trading Practices 25

REVIEW OF ACCOUNTS 26

CLIENT REFERRALS AND OTHER COMPENSATION 27

CUSTODY 28

DISCRETION 28

VOTING CLIENT SECURITIES 29

FINANCIAL INFORMATION 30

PRIVACY POLICY 30

BUSINESS CONTINUITY PROGRAM 31

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AdvisoryBusinessI N T R O D U C T I O N

MossAdamsWealthAdvisorsLLCisanindependentinvestmentadvisoryfirmregisteredwiththe

U.S.SecuritiesandExchangeCommission(SEC)undertheInvestmentAdvisorsActof1940.We

haveprovidedpersonalwealthmanagementandfinancialplanningservicessince1988.

MossAdamsWealthAdvisorsisheadquarteredinSeattlewithofficesthroughoutWashington,

CaliforniaandOregon.

Weprovideavarietyofservices:

InvestmentManagementServices

InvestmentConsultingServices

CustomFixedIncomeManagement

PersonalFinancialPlanning

InsuranceManagementandConsulting

MossAdamsWealthAdvisorsisawhollyownedsubsidiaryofMossAdamsFinancialServicesLLC,

whichiswhollyownedbyMossAdamsLLP,anationalpublicaccountingandconsultingfirm.

AsofDecember31,2016,wewereactivelymanagingatotalof$2,142,840,764inclientassets.This

represents$1,838,066,472indiscretionaryclientassetsand$304,774,292innon‐discretionary

clientassets.

I N V E S T ME N T M A NA G E M E NT S E R V I CE S

MossAdamsWealthAdvisorsofferscomprehensivewealthmanagementservices,including

investmentmanagementservices,tohelpyouachieveyourfinancialgoals.Thisisdonethrougha

fourstepprocessintegratingfinancialplanningwithcontinuousadviceregardingyour

investments.

Step 1: Organize

Webeginbyconsolidatingallofyourfinancialinformation,quantifyingyourgoals,anddeveloping

apersonalprofilethatestablisheswhereyouarenowandtheactionstepsnecessarytoreachyour

goals.Theinformationwewillgatherincludes,butisnotlimitedto:yourpersonalrisktolerance,

financialandnon‐financialresources,estimatedtaxrates,investmenttimeline,financialgoalsand

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cashflowneeds.Hereisageneraloverviewofthestepsyoumayexpectduringtheorganization

phase:

Indepthanalysisofcurrentsituation,whichincludesareviewofinvestmentobjectives,risk

tolerance,financialgoalsandcurrentinvestmentstrategy

Establishclearandreasonablegoalsandobjectives

Translateobjectivesintoqualitativeandquantitativeriskandreturngoals

Determinetimehorizon

Assesscashflowandliquidityneeds

Reviewliabilities

Identifyspecialcircumstancesorrequirements

Reviewperformanceobjectives

Establishyourfamiliaritywithkeyassumptionssuchasinflation,investmentratesof

return,andhowtheseassumptionsimpacttheresultsofouranalysis

Step 2: Formalize

Formalizingyourplanisanimportantnextstep.Awell‐writtenInvestmentPolicyStatementisan

essentialroadmapforfutureinvestmentdecisions—onewereviewandupdateasneeded.The

stepsinvolvedinformalizingthisplaninclude:

Assesslifesituation,includinginvestmentobjectives,investmenttimehorizon,spending

requirements(cashflowneeds),risktolerance(comfortwithvolatility),andtaxstatus

Determineappropriateassetallocationmodel

Determinerebalancingguidelines

Determineinvestmentguidelines,includingallowablesecuritiesandpotentialrestrictions

Developstrategiesaround:

o Concentratedpositions

o Lowbasislegacystock

o Restrictedsecurities

o Stockoptions

o Illiquidinvestments

o Annualcashflowneeds

Developinvestmentpolicy,spendingpolicyandpreparetheInvestmentPolicyStatement

Documentationandsupportfortheinvestmentprocess

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Step 3: Implement

ThethirdstepistoimplementtheinvestmentplanaccordingtoyourInvestmentPolicyStatement.

TheInvestmentPolicyStatementprovidesalogicalguideforimplementationofyourinvestment

strategyandservesasareminderofyourgoals,objectivesanddesignofyourportfolio.

Inthisstep,wedevelopastrategicassetallocationmodel,apportioningassetstoincome,

alternatives,andequityinvestmentsinawaythatisconsistentwithyourinvestmentobjectives,

risktoleranceandinvestmenttimeframe.Then,weselectimplementationplatformsandmanagers

withineachofthemajorassetclassestoexecutetheirportionoftheoverallstrategytypically

throughopen‐ended,no‐loadmutualfundsand/orindividualbonds.

Step 4: Monitor

Ourinvestmentprofessionalswillschedulemeetingswithyouonaperiodicorrequestbasis,togo

oversomeofthefollowingitems:

Monitoreconomicandmarketenvironment

Implementallocationadjustments

Monitortradingcosts

Monitortaxliability

Monitormanagerperformance

Reviewperformancemeasurementandreportingprocedures

Considerchangesinyourcircumstances

Makeprogramrefinementsasneeded

Confirm thatyour InvestmentPolicyStatement is consistentwithyour currentobjectives

andgoals

C U S T O M F I X E D I NC O M E M A N A G E M E N T

Dependingonyourneeds,MossAdamsWealthAdvisorsmayinternallymanageyourportfoliosby

allocatingsomeorallofyourportfolioassetstothefixedincomeportfoliomanagementstrategy.

Theprimaryobjectiveofthecustomfixedincomemanagementstrategyiscurrentincomeand

capitalpreservation,withcapitalappreciationasasecondaryobjective.Customizedtargetincome

portfoliosandinvestmentsolutionshelpyouachieveyourcashflowobjectives,whileproviding

safetyofcapitalaspartofyouroverallfinancialplan.Ourstrategytoaccomplishthesegoalsisto

selectadiversifiedportfolioofinvestmentgradeincomesecuritiessuchascorporatebonds,

governmentagencyandUStreasurynotes,short‐termmoneymarketsecurities,andtax‐exempt

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andtaxablemunicipalbonds.Ourgoalistocreateflexibilityandmanageinterestratevolatilityby

structuringaportfoliowithladderedmaturities.Theseguidelinesdescribeourstandardapproach

tofixedincomeinvesting,thoughthestructureofyourportfoliomayvary,dependingonyourgoals

andrisktolerance.

Wealsooffercustomizedshort‐termfixedincomemanagementwhichisaspecializedstrategyfor

individuals,businessesandorganizationsthatrequireshort‐termliquidity.

Additional Customized Investment Management Services

MossAdamsWealthAdvisorsprovidesothermorecustomizedstrategiesincludingacoveredcall

writingincomestrategyandaconcentratedpositioncollarhedgingstrategy,dependingonyour

currentholdingsandneeds.

P E R S O N A L F I N A N C I A L P L A N N I N G

MossAdamsWealthAdvisorsprovidespersonalfinancialplanningbytakingaverypersonalized,

goal‐orientedapproach.

Personal Financial Planning Process

Thepersonalfinancialplanningprocessbeginsbygatheringallofyourrelevantdata,assessing

yourgoalsanddeterminingtheassumptionsyourplanwillbebasedon.Followingouranalysisand

evaluationofyourcurrentfinancialstatus,wewilldevelopandpresentyouwithwritten

recommendations.Wewillexplaintheimpacttheserecommendationswillhaveonyourpotential

abilitytoachieveorexceedyourgoalsandobjectives.Atyourdiscretion,youwillhavetheabilityto

accept,reject,ormodifytherecommendationsaspresented.Atthispoint,youmayhireMoss

AdamsWealthAdvisorstoimplementandmonitortherecommendationsunderaseparate

engagement.

GeneralInformationRegardingPlanning

Pleaseunderstandyourpersonalfinancialplanwillnotexpressanyformofassuranceonthe

achievabilityoftheprojectionsorreasonablenessoftheunderlyingassumptions.Youwillbe

responsibleforprovidingcurrentandaccuratefinancialinformationandcommunicatingtousany

significantinformationthatmightaffecttheultimaterealizationoftheprojectedresultsinatimely

manner.Allreports,financialstatementprojectionsandanalysesareintendedonlyforthesole

purposeofdevelopingandimplementingthefinancialplan.Youshouldnotattempttousesuch

reportstoobtaincreditorforanypurposeotherthandevelopingthepersonalfinancialplan.

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Becauseeventsandcircumstancesfrequentlydonotoccurasprojected,itislikelytherewillbe

variancesbetweenprojectedandactualresultsthatmaybematerialtoyourplanningneeds.

Thesuggestionsandrecommendationsincludedinafinancialplanwillbeadvisoryinnature,and

wewillnotguaranteetheperformanceofanyinvestmentorinsuranceproductwhichmaybe

purchasedtoimplementtherecommendationsinaplan.Theplanwillincludefinancialprojections

basedonassumptionsaboutfutureeventsandwewillnotvouchfortheachievabilityofsuch

projectionsastheassumptionsaboutfutureeventsmayprovetobeinaccurate.Theassumptions

aremadewiththeunderstandingtheyaresoundandreasonable.

Youareundernoobligationtoactuponthewrittenrecommendations;however,ifyoudoacton

anyoftherecommendations,pleasealsounderstandyouareundernoobligationtoobtainservices

recommendedthroughMossAdamsWealthAdvisorsoritsaffiliates.

Wedosuggestthatinvestmentrecommendationsdevelopedaspartofthefinancialplanbe

implementedbyregisteredinvestmentadvisorsorotherproperlylicensedinvestment

professionalsadheringtofiduciarybestpractices.Wearenotresponsibleforthesuccessorfailure

ofanyspecificinvestmentorinvestmentstrategyrecommendedbyotheradvisors.

I N V E S T ME N T C O N S U L T I N G S E R V I C ES

Ifengagedinaninvestmentconsultingrole,MossAdamsWealthAdvisorswillactasthefacilitator

ofyourinvestmentmanagementprocessratherthanmanagethefundsdirectly.Inaninvestment

consultingservicesengagementletter,wedetailtheactualservicestobeprovidedandthefees

chargedinconjunctionwithsuchservices.Theseservicesmayinclude,butarenotlimitedto:

Indepthanalysisofcurrentfinancialsituation,whichincludesareviewofinvestment

objectives,risktolerances,financialgoalsandcurrentinvestmentstrategy

Developmentofmissionstatementandinvestmentobjectives

Determinationofrisktolerancelevelsandtimehorizons

Reviewofcashflowandliquidityneeds

DevelopmentofacomprehensiveInvestmentPolicyStatement(IPS)thatprovidesstructure

andguidanceforinvestmentdecisions

Developmentofstrategicassetallocationmodels,includingarebalancingstrategy

Investmentmanagerduediligence,feenegotiation,selection,monitoringandreplacement

recommendations

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Reviewofcustodialplatformsand/orexistingadvisororbrokeraccountsandtheir

respectiveexpensecontrols

Performanceevaluationandbenchmarkreview

Developmentofstrategiestoaddresssignificantgainpositions,concentratedpositionsand

restrictedassets

Reportfiduciarydataandeducateyourplantrusteesonreportinterpretation(institutional

clients)

EducatetheInvestmentCommitteeandBoardonUPMIFAanditsfiduciaryresponsibilities

withregardstotheorganization’sinvestmentassets(not‐for‐profitclients)

Consolidatedreporting

GeneralInformationRegardingInvestmentConsultingServices

Ourinvestmentconsultingservicesaredesignedtosupplementyourownplanninganalysisandaid

youinfulfillingyourpersonaland/orbusinessfinancialgoalsandobjectives.Anyanalysis

providedwillrelyuponindividualrepresentationsandfinancialinformationprovidedbyyou

regardingyourexistinginvestments.Wewillnotguaranteetheachievabilityoftheprojectionsin

thereportorreasonablenessoftheunderlyingperformanceorassumptions.Youareresponsible

forprovidingcurrentandaccuratefinancialinformationandcommunicatingtousanysignificant

informationthatmightaffecttheachievabilityoftheprojectedresults.Underthistypeof

engagement,wewillnotmonitorportfoliosorthestatusofyouractionsregardingthesereports

betweenrequests.

Inperforminginvestmentconsultingservices,pleaseunderstandthatweintendtoconsultonthese

assets;however,wewillnotberesponsiblefortheactionstaken(ornottaken)byyouoranyagent

youchosetoactonyourbehalf.Ourservicesarenotdesignedtobe,andshouldnotbereliedupon

as,asubstituteforindividualbusinessjudgment,noraretheymeanttomitigatethenecessityof

personalreviewandanalysisofaparticularinvestment.Inaddition,theseservicesarenot

designedtodiscoverfraud,irregularitiesormisrepresentationsmadeinmaterialsprovidedtous

concerningpotentialinvestmentsorinsurancecoverage.

I N S U R A N C E M A N A G E M E N T A N D C O N S U L T I N G

MossAdamsWealthAdvisors,inconjunctionwithitsaffiliate,MossAdamsSecurities&Insurance

LLC(MASI),mayprovideareviewofyourcurrentlife,disability,annuity,lifesettlementand/or

long‐termcareinsurance.Wetakeanunbiasedapproachtosearchthemarketplaceforsuitable

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insurancetomeetyourneedsbycollaboratingwithotheradvisors,includingyourtaxprofessional

andattorney.Ourgoalistoprovideyouwithagreaterunderstandingofyourinsurancepolicies

throughintegratedplanning.

MossAdamsWealthAdvisorsconductsananalysisofyourinsurancepoliciesknownasan

insuranceperformanceevaluation.Theperformanceevaluationisaclient‐drivenprocessfocused

onexaminingtheperformanceofyourlifeinsurancepolicy.Thereviewwilldetermineifyour

currentpolicyisperformingasexpectedbasedonoriginalpremiumpaymentsandassumed

interestrates.Inaddition,wewillevaluatethemarkettoseeifthereisaproductthatmaybe

bettersuitedtoyourcurrentneeds.Thisanalysiswillbedoneatnocosttoyouandyouarenot

requiredtoimplementtherecommendationsthroughMossAdamsWealthAdvisors’affiliated

licensedinsuranceagencyMASI.

Fromtimetotime,MossAdamsWealthAdvisors’clientshaveanopportunitytopurchase

insuranceproductsthroughourlicensedinsuranceproducersatMASI,whoreceiveacommission

onthesaleoftheseproducts.Whenarecommendationismadetopurchaselifeinsuranceproducts

throughMASI,acommissionisreceivedbyMASI.Thisfinancialincentivemaycreateaconflictof

interestbecausethefirmmayreceiveadditionalcompensationfortheplacementofcertain

insuranceproducts.AllMossAdamsWealthAdvisorandMASIrepresentativesreceiveasalarythat

isnotbasedontheplacementofinsuranceoranyotherproducts.Commissionsarenotpaidtothe

advisorsorinsuranceproducers.

MembersofourinsuranceteamarealsoregisteredrepresentativesofValMarkSecurities,Inc.

(“ValMark”),aFINRAregisteredbroker/dealer,andmaysellinsurancerelatedsecuritiesproducts

throughthem.YouarenotrequiredtoeffectsecuritiestransactionsthroughValMark;youmayuse

anybroker/dealeryoudesire.ForsecuritiestransactionsplacedthroughValMark,commissionsfor

securitiespaidpursuanttoaprospectuswillbethesame.However,commissionsorfeesforother

securitiestransactionsmaybehigherorlowerifplacedthroughValMarkthanifplacedthrough

anotherbroker/dealer.TheseadvisorsarealsoaffiliatedwithExecutiveInsuranceAgency,Inc.

(EIA),ageneralinsuranceagencythatrepresentsnumerousinsurancecompanies.Anyinsurance

productplacedthroughEIAmaygeneratestandardandcustomaryinsurancecommissionsand

othersums,aportionofwhichmaybepaidtoMASI.ValMarkprovidesrelatedpersons/registered

representativeswithduediligence,complianceinformationandregulatoryreview.Furthermore,

allsecuritiestransactionsmadeonbehalfofaclientandplacedthroughValMarkarereviewedand

approvedbyValMarksupervisoryprincipalsasrequiredbyFINRA.Allcommissionsgeneratedasa

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registeredrepresentativeofValMarkSecuritiesandExecutiveInsuranceAgencyarereceivedby

MossAdamsSecurities&InsuranceLLC.Ouradvisorsandinsuranceproducersreceiveasalary

fromMossAdamsWealthAdvisorsnotbasedontheplacementofanyproduct.

FeesandCompensationF E E S F OR I N V E S TM E N T M AN A G E M EN T S E R V I C E S – P RI V A T E C L I E N T

MossAdamsWealthAdvisorsprovidesinvestmentsupervisoryservicesforprivateclientportfolios

onanindividualizedbasis.Eachportfolioismanagedaccordingtotheclients’InvestmentPolicy

Statement.

MossAdamsWealthAdvisors’assetmanagementfeesarebaseduponassetsundermanagementas

follows:

ASSETS UNDER MANAGEMENT

$1,000,000 and under 1.25% $1,000,001 to $2,000,000 1.00% $2,000,001 to $5,000,000 0.75% $5,000,001 to $10,000,000 0.50% $10,000,001 and above 0.25%

Feesonportfoliosarecalculatedonagraduatedbasis,e.g.,anaccountwithavalueof$2,000,000

willpayanannualfeeof1.25%onthefirst$1,000,000and1.00%ontheassetvaluefrom

$1,000,001to$2,000,000.Formultipleaccountsunderthecontroloftheclient,client’sspouseand

relativesresidinginthesamehousehold,accountswillgenerallybeaggregatedforfeepurposes.

F E E S F OR I N V E S TM E N T M AN A G E M EN T S E R V I C E S – I NS T I T U T I ON A L

MossAdamsWealthAdvisorsprovidesinvestmentsupervisoryservicesforpensionandprofit

sharingplans,tribalgovernmentsandenterprises,andcharitableorganizationsandendowments.

Assetmanagementfeesarebaseduponassetsundermanagementasfollows:

ASSETS UNDER MANAGEMENT

$10,000,000 and under 0.50% Over $10 Million 0.25%

F E E S F OR C U S T O M F I XE D I N C O M E M A N A G EM E N T

CustomFixedIncomeManagementservicesareprovidedforafeethatisinadditiontoour

standardinvestmentmanagementfeedescribedabove.Thesefeesvarybasedonsuchfactorsasthe

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underlyinginvestmentstrategyandcomplexityoftheservicesprovided.Ifcustomfixedincome

managementisusedinyourportfolio,anadditionalscheduleorexhibitoffeeswillbeprovidedto

you.Thefollowingfeesareassessedasapercentageofthemarketvalueofallassetsintheaccount:

1. CustomizedTargetIncomePortfolio 0.25%

2. ShortTermFixedIncome 0.10%

3. CoveredCallWritingIncomeStrategy 0.50%

Prime Brokerage Arrangements

Forclientsparticipatingincustomfixedincomemanagement,MossAdamsWealthAdvisorsmay

usediscretionaryauthoritytotradeawayfromyourcustodian(SchwaborFidelity)when

purchasingorsellingfixedincomesecurities.Thisallowsustoseekcompetitivefixedincome

offeringsbeyondwhatisofferedbyyourcustodian’sinventory.Eachtradeplacedatabrokerother

thanyourcustodianhasanadditionalcost,whichischargedbyyourcustodiantosettlethetrade.

Thisisinadditiontoanymarkupormarkdownthatyoumaypaytothebroker‐dealerMoss

AdamsWealthAdvisorsselectstopurchaseorsellyoursecurity.MossAdamsWealthAdvisors

doesnotparticipateinthesefees.

M O R E I N F O R M A T I O N O N I N V E S T M E NT M A N A GE M E N T SE R V I C E S F E E S

Feesforinvestmentmanagementserviceswillbepayableinarrearsforeachcalendarquarterona

pro‐ratedbasis.Thefeewillbeapercentageofthemarketvalueofallassetsintheaccountonthe

lasttradingdayofeachcalendarquarter.Inanypartialadvisoryfeecycle,youradvisoryfeewillbe

pro‐ratedbasedonthenumberofdaysyourassetsareundermanagementfortheapplicable

period.

Thesefeeswillbeautomaticallydeductedfromyourmanagedaccount(s)afterthecompletionof

eachbillingquarter.Eachfeewithdrawalisreflectedontheclient’smonthlyaccountstatement

sentbytherelevantcustodian.Limitedexceptionsaremadetothispolicyandthoseclientswho

havewrittenagreementswiththefirmwillbeinvoiceddirectlyformanualpayment.

Wemaintainaccountsforcertainclientsthatare“attest”orauditclientsforouraffiliatecompany,

MossAdamsLLP.Theseaccountswillbebilledbasedonapercentageofthemarketvalueofall

assetsintheaccountonthefirsttradingdayofeachcalendarquarter.

PleaserefertoyourInvestmentAdvisoryAgreement,includingattachedaddendumsor

exhibitstodeterminethemannerinwhichyouradvisoryfeeswillbecalculatedandbilled.

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AtMossAdamsWealthAdvisors’discretion,feesmaybenegotiatedonaclientbyclientbasisfrom

theabovepublishedstructurebaseduponcertaincriteria(forexample:anticipatedfutureearning

capacity,anticipatedfutureadditionalassets,dollaramountofassetstobemanaged,related

accounts,accountcomposition,negotiationswithclient,etc.).Whereitisdeterminedtobe

applicable,fixedfeearrangementsareavailable.

Discounts,notgenerallyavailabletoouradvisoryclients,maybeofferedtofamilymembers,

friendsorassociatedpersonsofthefirm.

Allfeesandtransactioncostschargedbythecustodianarenotincludedintheabovefees.Please

seethesectionbelowtitled“BrokeragePractices”formoreinformationoncustodialfees.Third

partymoneymanagersprovideinvestmentmanagementservicesforanadditionalfee.Thesefees

varybasedonfactorssuchasthemanagerselected,underlyinginvestmentstrategyandsizeofthe

account.Ifathirdpartymoneymanagerisusedinyourportfolio,aseparatefeedisclosurewillbe

providedtoyou.

Pleaseunderstandthatyourinvestmentsinmutualfundsorinvestmentcompanies(“funds”)will

beincludedincalculatingthevalueoftheaccountforpurposesofcomputingMossAdamsWealth

Advisors’fees.Thesesameassetswillalsobesubjecttoadditionaladvisoryfeesandother

expenses,assetforthintheprospectusesofthosefunds,paidbythefundsbutultimatelyborneby

you,theinvestor.Inaddition,somefundsheldbyyouwhenopeninganaccountwithusmayhave

imposedaninitialsalescharge,soyoucouldstillbesubjecttodeferredsalescharges.Mutualfund

feesandexpensesaresetforthintheapplicablefundprospectus.Wedonotparticipateinthesales

chargeschargedbymutualfunds.Similarinvestmentadvisoryservicesmaybeavailablefrom

otherinvestmentadvisorsforalowerfee.

Pricing

Propervaluationsarenecessaryforaccurateperformancecalculationsandfeebillingpurposes.

Independentcustodiansofclientaccountsserveasourprimarypricingsource.

Termination

Investmentmanagementservicesfeesareproratedfromthedateofinceptionthroughthedateof

termination.ForMossAdamsWealthAdvisors’managedaccountsatSchwabandFidelity,accounts

willbeproratedforeachdayofthecurrentquarteruntilthedatethewrittenterminationnoticeis

effective.EitherpartymayterminatetheInvestmentAdvisoryAgreementatanytimebyproviding

writtennotice.

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F E E S F OR P E R S O N A L F I N A N C I A L P L A N N I N G

Feesforpersonalfinancialplanningserviceswillbebasedontheservicescustomizedtothe

particularneedsoftheclientandwillbefullydisclosedinaseparatepersonalfinancialplanning

engagementlettertheclientwillsignandagreeto.Monitoringandfutureplanupdatesareseparate

engagementsandassuchwillbebilledseparately.

Typicalcostsforfinancialplanningarrangementsmayrangefrom$3,500to$30,000ormore,

dependingonneedsandvaryingcomplexity.Clientsaretypicallybilledinarrearsforservices

provided.AtMossAdamsWealthAdvisors’discretion,feesmaybepaidinadvanceonaquarterly

paymentschedule.

F E E S F OR I N V E S TM E N T C O N S U L T I N G S E R V I C E S

ClientsmayretainMossAdamsWealthAdvisorstoprovideinvestmentconsultingservicesforan

hourlyfeegenerallyrangingfrom$200to$600perhour,dependingonthecomplexityandriskof

theservice.Feesmayalsobesetonaprojectbasis.Thetotalfeeandactualconsultingservicestobe

performedwillbesetforthinawrittenengagementletterwiththeclient.

F E E S F OR I N S U R A N C E M AN A G E M EN T A N D C O N S U L T I N G

ClientsmayretainMossAdamsWealthAdvisorstoprovideinsurancemanagementandconsulting

foranhourlyfeegenerallyrangingfrom$100to$600perhour.Feesmaybedependentuponthe

complexityandriskoftheservice(ifnotprohibitedbystatestatute).Feesmayalsobesetona

projectbasis.Theactualconsultingservicestobeperformedandanestimateofthetotalfeewill

typicallybesetforthinawrittenengagementletterwiththeclient.Theclientwilltypicallybe

billedforthetotalfeeaftertheservicesarerenderedandthetotalwillbedueuponyourreceiptof

thebill.

Fromtimetotime,MossAdamsWealthAdvisors’clientshaveanopportunitytopurchase

insuranceproductsthroughourlicensedinsuranceproducersatMASI.Whenarecommendationis

madetopurchaselifeinsuranceproductsthroughMASIforwhichacommissionisreceivedby

MASI,aconflictofinterestexists.Thisfinancialincentivemaycreateaconflictofinterestbecause

thefirmmayreceiveadditionalcompensationfortheplacementofcertaininsuranceproducts.All

MossAdamsWealthAdvisorandMASIrepresentativesreceiveasalarythatisnotbasedonthe

placementofinsuranceoranyotherproducts.Commissionsarenotpaidtotheadvisorsor

insuranceproducers.

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T E R M I N AT I O N

Agreementsforanyoftheabove‐referencedservicesprovidedbyMossAdamsWealthAdvisors

maybeterminatedbyeitherpartybywrittennoticetotheother.Terminationwillonlytakeeffect

uponthereceiptofwrittenterminationinstructionatMossAdamsWealthAdvisors’mainoffice,

locatedat999ThirdAvenue,Suite2800,Seattle,WA98104.TerminationofthisAgreementwill

notaffect(i)thevalidityofanyactionpreviouslytakenbyMossAdamsWealthAdvisorsorits

affiliatesunderthisAgreement;(ii)liabilitiesorobligationsofthepartiesfromtransactions

initiatedbeforeterminationofthisAgreement;or(iii)Client’sobligationtopayfees(pro‐rated

throughthedateoftermination).

B U N D L E D P R I C I N G

BundledpricingservicesmaybeofferedtoclientswhoreceiveservicesfrombothMossAdams

WealthAdvisorsLLCandMossAdamsLLP.Bundledpricingisdesignedtoprovidetheoptionof

payingonefeeformultipleservices.Forexample,youmayreceivewealthmanagementservices

providedbyMossAdamsWealthAdvisorsLLCandtaxservicesorfamilyofficeservicesfromMoss

AdamsLLP.AtthediscretionofMossAdamsWealthAdvisorsandMossAdamsLLP,additional

accountingorconsultingservicesmaybeincludedaspartofthestandardadvisoryfee,undera

specificwrittenagreementwitheachentity.However,clientsareneverunderanyobligationtouse

MossAdamsLLPforanyaccountingorconsultingservices.

TypesofClientsMossAdamsWealthAdvisorswillgenerallyprovideinvestmentadvicetohigh‐networth

individualsandfamiliesandtheirtrusts,estates,charitableorganizations,corporations,business

entities,foundationsandendowments.Wealsoofferadvicetoindividualpensionandprofit

sharingplans,institutionalclients,trusts,estatesornot‐for‐profitcharitableorganizations,

corporationsorbusinessentities,andTribalgovernmententerprises.

MethodsofAnalysis,InvestmentStrategiesandRiskofLossM E T H O D S O F A N AL Y S I S

MossAdamsWealthAdvisorsprovidesportfolioassetallocationinaccordancewithyourunique

circumstances(risktolerance,taxsituation,etc.)thatarebestsuitedtohelpachieveyourfinancial

andinvestmentgoals.Wemayadjustyourportfolio’sassetallocationperiodically,forchanging

March2017 17

economicandcapitalmarketconditions.Weutilizeavarietyoftoolstoresearchtheinvestments

weusetoimplementyourportfolio(s).Thesetoolsprovidethedataforourfundamentaland

quantitativeresearch(managertenure,expenses,historicalreturns,alpha,standarddeviation,style

drift,peerrankings,corporateratingservices(bonds),etc.).Wethenconductthequalitative

researchportionofourduediligenceprocess,talkingwiththeportfoliomanager(s),understanding

theirinvestmentandmanagementphilosophy,reviewingannualreports,prospectuses,news

releasesaswellasotherinformationregardingthemanagementofassets,includingrisk

management,buy/selldisciplines,portfoliomanager/analystcompensationmethodology,etc.

MossAdamsWealthAdvisorsconstructsportfoliosbasedonlong‐term,strategicallocations

diversifiedamongseveralassetclassesthatprovideexposuretodisparateriskfactors.Securities

purchasesaregenerallymadewiththeintentthattheywillbeheldlong‐term.Wemayemploy

shortsales,marginandoptionstransactionsasappropriatetotheclient.

I N V E S T ME N T S T R A T E G I ES

Effectiveinvestmentmanagementstrivestoachievetherequiredreturntomeetclients’goals

withoutincurringexcessiverisktodoso.Tobesuccessful,westrivetobalanceinsightsgarnered

fromourinvestmentmanagementexperiencewhilebeingmindfulofmanaginginvestoremotions

andneeds.

Weseektoconstructportfoliosconsistingofdisparateriskfactorsbyallocatingfundsamong

uncorrelatedassetclasses,withtheintentionofmitigatingvolatilitytoincreasethelong‐term,risk‐

adjustedreturnsoftheportfoliowemanage.

Weidentifyinvestmentassetswithinthegrowthsectionofportfoliosaseithercoreorsatellite

holdings.Forexample,withinthedomesticequityallocationwehaveadomesticequitycore

investmentandadomesticequitysatelliteinvestment.Coreinvestmentsaimtodeliverareturn

thatapproximatesbroadmarketperformance(alsoknownasbetareturn)andtoprovide

diversifiedexposureatalowercost.Buildingastrongcoreforyourinvestmentportfolioprovides

thefoundationforgrowthofyourportfolioinvestments.Weseekrelativelylowcostandtax‐

efficientcoreinvestmentsforyourportfoliotomatchthereturnandriskcharacteristicsofamarket

segmentbybeingbroadlydiversified.Ourintentistoachieve(i)broadmarketsegmentationand

(ii)targetrisk‐adjustedreturns.

Satelliteinvestmentsaretypicallymorespecializedinvestmentsthatwebelievewillgenerate

additionalreturns.Weimplementsatelliteinvestments,generallytoexpressourviewona

March2017 18

segmentoftheequitymarketswithcompellingattributes,perhapsduetomarketdislocationoran

emergingtrendintheeconomyoramongindustries.Thegoalofsatelliteinvestmentsisto

generatebetterthanmarketreturnsoveramarketcycle.Satelliteinvestmentsmaycarryhigher

riskandhighercosts.Satelliteinvestmentsservedifferentpurposesinourportfolios.First,weseek

tocapturereturndriversbasedonacompellingrisk/rewardattribute,inanattempttoincreasethe

expectedreturnofportfolios.

MossAdamsWealthAdvisorsimplementsanalternativesectiontomitigatetheoverallriskwithin

someportfolios.Alternativesaredividedintotwoassetclasses:(i)hedgestrategiesand(ii)real

assets.Theallocationtohedgestrategiesseekstoprovideportfolioswithuncorrelatedreturns

versustraditionalstockandbondinvestments.Althoughrealassetscanbemorehighlycorrelated

totraditionalstockandbondinvestmentsforshortperiods,theyarenothighlycorrelatedoverthe

long‐runandgenerallyofferahigheryieldthan“traditional”stocksandbettergrowthpotential

thanbonds.Bothofthesealternativeassetclassesseektodiversifyoverallriskfactorexposurethat

isassumedwithinthegrowthandincomesectionsofportfolios.

Risk of Loss

MossAdamsWealthAdvisorsstrivestohelpourclientsunderstandtheinvestmentrisksthey

choosetotakeandhelpthemselectinvestmentstrategiesthatareappropriatefortheirrisk

tolerance.Differenttypesofinvestmentsinvolvevaryingdegreesofrisk,andyoushouldnot

assumethatfutureperformanceofanyspecificinvestmentorinvestmentstrategywillbeprofitable

orequaltoanyspecificperformancelevel(s).Thisincludestheinvestmentsand/orinvestment

strategiesrecommendedorundertakenbyMossAdamsWealthAdvisors.Youshouldreviewany

prospectus,offeringmemorandaand/orotherdocument(s)providedbyanymutualfundorother

investmentmanagerforamoredetaileddiscussionofrisksspecificallyassociatedwiththat

investment.

T Y P E S OF I N V E S TM E N T S

MossAdamsWealthAdvisorsoffersadviceonawidespectrumofinvestmentsandinvestment

programs,including:short‐termmoneymarketsecurities,corporate,municipalandUSgovernment

fixedincomesecurities,exchangelisted,over‐the‐counterandforeignequities,andinvestment

companysecuritiessuchasopen‐ended,no‐loadmutualfunds.

MossAdamsWealthAdvisorsmayalsoprovideadviceaboutpre‐existinginvestmentsheldinyour

portfoliowhenopeninganaccountwithMossAdamsWealthAdvisors.

March2017 19

DisciplinaryInformationMossAdamsWealthAdvisorsisrequiredtodiscloseallmaterialfactsregardinganylegalor

disciplinaryeventsthatwouldmateriallyimpactyourevaluationofMossAdamsWealthAdvisors

ortheintegrityofMossAdamsWealthAdvisors’management.NoeventshaveoccurredatMoss

AdamsWealthAdvisorsthatareapplicabletothissection.

OtherFinancialIndustryActivitiesorAffiliationsInvestmentadvisorrepresentativesofMossAdamsWealthAdvisorsmayalsoberegistered

representativesorinsuranceproducersofMossAdamsSecurities&InsuranceLLC(MASI),aFINRA

memberbroker‐dealerandgeneralinsuranceagency.MossAdamsWealthAdvisors’investment

advisorrepresentativesmayreferclientstoMASI.Asalimitedbroker‐dealer,MASIprovides

servicesforopen‐endedmutualfunds,529plansandvariableorfixedinsurance.

Ourinsuranceteamholdspositionswithotherfinancialinstitutions,includingValMarkSecurities,

Inc.,abroker‐dealerregisteredwithFINRA,SIPC,andExecutiveInsuranceAgency,Inc.,an

insuranceagency.MossAdamsSecurities&InsuranceLLChasmaterialrelationshipswithValMark

Securities,Inc.,abroker‐dealer,andExecutiveInsuranceAgency,Inc.,aninsuranceagency.

MossAdamsWealthAdvisors’investmentadvisorrepresentatives,whoarealsoregistered

representativesorinsuranceproducersofMASI,maybepaidaportionofthecommissioncharged

totheclientontheexecutionofthetransactionoracommissiononthesaleofaninsurance

product.Thiscommissionispaiddirectlytothefirm,nottheindividual.Althoughthisfinancial

incentivecreatesaconflictofinterestbetweentheclientandtheinvestmentadvisor

representative,itshouldbenotedthatMASI,thefirm,receivescommissionsandpaystheir

representativesasalarynotbasedontheplacementofsuchproducts.

Anytransactionsresultingincommissionspaidarenotcoveredbyanadvisoryagreementwith

MossAdamsWealthAdvisors.Anyfeesorcommissionspaidbyyouareinadditiontoinvestment

advisoryfees.ClientsarenotobligatedtochoosearepresentativeofMossAdamsWealthAdvisors

toassisttheminexecutingatransaction.Similarservicesareavailablefromotheradvisors.

MossAdamsWealthAdvisorsisawhollyownedsubsidiaryofMossAdamsFinancialServicesLLC,

whichiswhollyownedbyMossAdamsLLP,anationalpublicaccountingandconsultingfirm.

Pursuanttocertainserviceagreements,MossAdamsWealthAdvisorsmayprovideservicesto

MossAdamsLLP’sclientsandMossAdamsLLPmayprovideservicestoMossAdamsWealth

March2017 20

Advisors’clients.However,clientsareneverunderanyobligationtouseMossAdamsLLPforany

services.MossAdamsLLPalsoprovidesofficespace,servicesandothermiscellaneousoverhead

itemstoMossAdamsWealthAdvisorsforafeedeterminedonanannualbasis.MossAdamsWealth

Advisorsdoesnotprovideaccountingorlegaladvice.

SomeoftheinvestmentadvisorrepresentativesofMossAdamsWealthAdvisorsareactiveas

principalsofMossAdamsLLP.

N O N - I N V E S T M E N T C O N S U L T I N G / I M PL E M E N T A T I O N S ER V I C E S

Totheextentrequestedbyaclient,MossAdamsWealthAdvisorsmayprovideconsultingservices

regardingnon‐investmentrelatedmatters,suchasestateplanning,taxplanning,insurance,etc.

NeitherMossAdamsWealthAdvisors,noranyofitsrepresentatives,servesasanattorneyor

accountant.Totheextentrequestedbyyou,MossAdamsWealthAdvisorsmayrecommendthe

servicesofotherprofessionalsforcertainnon‐investmentimplementationpurposes(i.e.attorneys,

accountants,etc.),includingrepresentativesand/oraffiliatedentitiesofMossAdamsWealth

Advisorsintheirseparateregistered/licensedcapacities.

Youareundernoobligationtoengagetheservicesofanysuchrecommendedprofessional.You

retainabsolutediscretionoverallsuchimplementationdecisionsandarefreetoacceptorreject

anyrecommendationfromMossAdamsWealthAdvisors.PleaseNote:Ifyouengageany

unaffiliatedrecommendedprofessional,andadisputearisesthereafterrelativetosuch

engagement,youagreetoseekrecourseexclusivelyfromandagainsttheengagedprofessional.

PleaseAlsoNote:ItremainsyourresponsibilitytopromptlynotifyMossAdamsWealthAdvisorsif

thereiseveranychangeinyourfinancialsituationorinvestmentobjectivesforthepurposeof

reviewing/evaluating/revisingMossAdamsWealthAdvisors’previousrecommendationsand/or

services.

A D D I T I O N A L R E P O R T I N G S E R V I C ES

MossAdamsWealthAdvisorsmayutilizetheservicesofByAllAccounts,Inc.,afinancialdata

aggregationprovider,thatwillallowustoprovideadditionalanalysisandfinancialreports

regardingyouraccounts.TheByAllAccountsaggregationengineautomaticallycapturesaccount

informationfromthousandsoffinancialinstitutionsusingonlineservices,suchaswebsitesthat

thesefirmsmakeavailabletotheircustomers.MossAdamsWealthAdvisorsisindependently

ownedandoperatedandhasnoaffiliationwithByAllAccounts,Inc.

March2017 21

WeunderstandthatByAllAccountsencryptsandstoresallretrievedinformationinasecuredata

warehousethatiscompliantwithStatementonStandardsforAttestationEngagementsNo.16

(“SSAE‐16”)TypeII.SSAE16requiresthedocumentationofallsecurityandprivacyrisksandthe

documentationofsafeguardsandproceduresfordealingwiththoserisks.SSAE16TypeIIfurther

requiresbothmonitoringandtestingofthosesafeguardsandprocedures,aswellasan

independentauditofthattestingandmonitoring.Youshouldobtainandreviewinformationfrom

ByAllAccountsasyoudeemnecessarytoaddressanyquestionsorconcernsyoumayhave

regardingthesecurityofyourfinancialinformation.

CodeofEthics,ParticipationorInterestinClientTransactionsandPersonalTradingC O D E O F E T H I C S S U M M A R Y

MossAdamsWealthAdvisorshasestablishedrulesofconduct(“TheCode”)forallemployeesthat

aredesignedto,amongotherthings,governpersonalsecuritiestradingactivitiesintheaccountsof

employees.TheCodeisbasedupontheprinciplethatMossAdamsWealthAdvisorsandits

employeesoweafiduciarydutytoMossAdamsWealthAdvisors’clientstoconducttheiraffairs,

includingtheirpersonalsecuritiestransactions,insuchamannerastoavoid:

Servingtheirownpersonalinterestsaheadofclients

Takinginappropriateadvantageoftheirpositionwiththefirm

Any actual or potential conflicts of interest or any abuse of their position of trust and

responsibility

TheCodeisdesignedtoensurethatthehighethicalstandardslongmaintainedbyMossAdams

WealthAdvisorscontinuetobeapplied.ThepurposeoftheCodeistodeteractivitieswhichmay

leadtoorgivetheappearanceofconflictsofinterest,insidertradingandotherformsofprohibited

orunethicalbusinessconduct.Theexcellentnameandreputationofourfirmcontinuestobea

directreflectionoftheconductofeachemployee.

PursuanttoSection206oftheAdvisersAct,bothMossAdamsWealthAdvisorsanditsemployees

areprohibitedfromengaginginfraudulent,deceptiveormanipulativeconduct.Compliancewith

thissectioninvolvesmorethanactingwithhonestyandgoodfaithalone.ItmeansthatMossAdams

WealthAdvisorshasanaffirmativedutyofutmostgoodfaithtoactsolelyinthebestinterestofits

clients.YoumaycontactourmainofficeforafullcopyofourCodeofEthicspolicy.

March2017 22

P A R T I C I P A T I O N OR I N T E R E S T I N C L I E N T T R A N S A C T I O N S

MossAdamsWealthAdvisorsreceivesreferralsofpotentialclientsfromprofessionalsofMoss

AdamsLLP,anationalpublicaccountingandconsultingfirm.MossAdamsWealthAdvisorsisa

whollyownedsubsidiaryofMossAdamsFinancialServicesLLC,whichiswhollyownedbyMoss

AdamsLLP.ThisaffiliationcreatesafinancialincentiveforMossAdamsLLPprofessionalstorefer

clientstoMossAdamsWealthAdvisors.Thisfinancialincentivemaycreateaconflictofinterest

betweenthepotentialclientsandMossAdamsLLPprofessionalsbecauseMossAdamsWealth

AdvisorspaysapercentageofitsprofitstoMossAdamsLLP.

ItisMossAdamsWealthAdvisors’policythatthefirmwillnotaffectanyprincipaloragencycross

securitiestransactionsforclientaccounts.MossAdamsWealthAdvisorswillalsonotcrosstrades

betweenclientaccounts.Principaltransactionsaregenerallydefinedastransactionswherean

adviser,actingasprincipalforitsownaccountortheaccountofanaffiliatedbroker‐dealer,buys

fromorsellsanysecuritytoanyadvisoryclient.Anagencycrosstransactionisdefinedasa

transactionwhereapersonactsasaninvestmentadviserinrelationtoatransactioninwhichthe

investmentadviser,oranypersoncontrolledbyorundercommoncontrolwiththeinvestment

adviser,actsasbrokerforboththeadvisoryclientandforanotherpersonontheothersideofthe

transaction.

P E R S O N A L T R A D I N G

Employeeaccountsmaytradeinthesamesecuritieswithclientaccountsonanaggregatedbasis.In

suchcircumstances,theemployeeandclientaccountsreceivesecuritiesatatotalaverageprice.

Investorsshouldnotethat,becauseemployeesmayinvestinthesamesecuritiesasclients,thereis

apossibilitythatemployeesmightbenefitfrommarketactivitybyaclientinasecurityheldbyan

employee.However,giventhemodestsizeofemployeetradesinrelationtothesizeofthemutual

fundsandindividualbondsinclientportfolios,MossAdamsWealthAdvisorsbelievesthat

employeetradingisunlikelytohaveanymaterialimpactonpurchaseorsalepricesexperiencedby

clients.

BrokeragePracticesG E N E R A L

MossAdamsWealthAdvisorshasnoaffiliationorsoftdollaragreementswiththirdpartiesin

connectionwithclienttransactions.MossAdamsWealthAdvisorsreceivesnocashcompensation

otherthaninvestmentadvisoryorconsultationfeespaidbyitsclients.

March2017 23

C U S T O D I A L B R O K E R A G E

WerecommendthatclientsestablishbrokerageaccountswithCharlesSchwab&Co.,Inc(Schwab)

orFidelityInvestments(Fidelity),registeredbroker‐dealersandSIPCmembers,tomaintain

custodyoftheirassetsandtoeffecttradesfortheiraccounts.MossAdamsWealthAdvisorsis

independentlyownedandoperatedandnotaffiliatedwithSchwaborFidelity.Clients’accountsare

contracteddirectlywithSchwaborFidelity,asMossAdamsWealthAdvisorsdoesnotmaintain

custodyofyourassets.Inthisrole,SchwaborFidelityactasyourqualifiedcustodianandwillhold

yourassetsinabrokerageaccountandbuyandsellsecuritieswhenweinstructthemto.

Weseektousecustodians/brokersthatwillholdyourassetsandexecutetransactionsonterms

thatare,overall,mostadvantageouswhencomparedwithotheravailableprovidersandtheir

services.Weconsiderawiderangeoffactors,including:

Combinationoftransactionexecutionservicesandassetcustodyservices(withouta

separatefeeforcustody)

Capabilitytoexecute,clearandsettletrades(buyandsellsecuritiesforyouraccount)

Capabilitytofacilitatetransfersandpaymentstoandfromaccounts(wiretransfers,check

requests,billpayment,etc.)

Breadthofavailableinvestmentproducts

Availabilityofinvestmentresearchandtoolsthatassistusinmakinginvestmentdecisions

Qualityofservices

Competitivenessinthepriceofthoseservices(commissionrates,margininterestrates,

otherfees,etc.)andwillingnesstonegotiateprices

Reputation,financialstrengthandstability

Priorservicetousandourotherclients

SchwabandFidelityalsomakeavailabletoMossAdamsWealthAdvisorsotherproductsand

servicesthatbenefitMossAdamsWealthAdvisors,butmaynotbenefititsclients’accounts.Some

oftheseotherproductsandservicesassistthefirminmanagingandadministeringclients’

accounts.Theseproductsincludesoftwareandothertechnologythatprovideaccesstoclient

accountdata(suchastradeconfirmationsandaccountstatements),facilitatingtradeexecutions

(andallocationofaggregatedtradeordersformultipleclientaccounts),providingresearch,pricing

informationandothermarketdata,facilitatingpaymentofMossAdamsWealthAdvisors’feesfrom

itsclients’accountsandassistingwithback‐officefunctions,recordkeepingandclientreporting.

March2017 24

ManyoftheseservicesgenerallymaybeusedtoserviceallorasubstantialnumberofMossAdams

WealthAdvisors’accounts,includingaccountsnotmaintainedatSchwaborFidelity.

SchwabandFidelityalsomakeavailabletoMossAdamsWealthAdvisorsotherservicesintendedto

helpthefirmmanageandfurtherdevelopitsbusinessenterprise.Theseservicesmayinclude

consulting,publicationsandconferencesonpracticemanagement,informationtechnology,

businesssuccession,regulatorycomplianceandmarketing.Whileactingasafiduciary,MossAdams

WealthAdvisorsendeavorstoactinitsclients’bestinterestsandthefirm’srecommendationthat

clientsmaintaintheirassetsinaccountsatSchwaborFidelitymaybebasedinpartonthese

benefitstothefirm.

SchwabandFidelityprovideMossAdamsWealthAdvisorswithaccesstoitsinstitutionaltrading

andcustodyservices,whicharetypicallynotavailabletoretailinvestors.Theseservicesgenerally

areavailabletoindependentinvestmentadvisorsonanunsolicitedbasis,atnochargetothemso

longasthetotalofatleast$10millionoftheadvisorsclients’assetsismaintainedintheiraccounts.

ThisisnototherwisecontingentuponMossAdamsWealthAdvisorscommittingtoSchwabor

Fidelityanyspecificamountofbusiness(assetsincustodyortrading).Servicesincludebrokerage,

custody,researchandaccesstomutualfundsandotherinvestmentsthatareotherwisegenerally

availableonlytoinstitutionalinvestorsorwouldrequireasignificantlyhigherminimuminitial

investment.

ForMossAdamsWealthAdvisors’clients’accountsmaintainedinitscustody,SchwabandFidelity

donotchargeseparatelyforcustody,butiscompensatedbyaccountholdersthroughcommission

orothertransactionrelatedfeesforsecuritiestradesthatareexecutedthroughSchwaborFidelity

orthatsettleintoSchwaborFidelityaccounts.SchwabandFidelityenableMossAdamsWealth

Advisorstoobtainmanymutualfundswithouttransactionchargesandothersecuritiesatnominal

transactioncharges.Thecommissionand/ortransactionfeeschargedbySchwaband/orFidelity

maybehigherorlowerthanthosechargedbyotherbroker‐dealers.

B E S T E XE C U T I O N

ThecommissionspaidbytheclientwillcomplywithMossAdamsWealthAdvisors’dutytoobtain

bestexecution.Inseekingbestexecution,determinationfactorsarenotlimitedtojustthelowest

possiblecost.Otherfactorsinclude,butarenotlimitedto,therangeofservices,includingthevalue

ofresearchprovided,executioncapability,commissionratesandresponsiveness.Therefore,Moss

AdamsWealthAdvisorswillgenerallyseekcompetitivetransactionfees.However,MossAdams

March2017 25

WealthAdvisorsmaynotnecessarilyattempttoobtainthelowestpossiblefeesfortransactionsfor

theclient’saccount(s).

Brokeragecommissionsandcommissionequivalentratesmay,fromtimetotime,beindividually

negotiated,andthusaclientmaybechargeddifferentcommissionsandcommissionequivalent

ratesthanthosechargedtootherclientsforidenticaltransactions.Thesedifferentratesmaybedue

to,amongotherthings,differencesinthesizeandnatureoftherespectiveaccounts.

T R A D I N G P R A C T I C E S

Asanadvisorandafiduciarytoourclients,ourclients’interestsmustalwaysbeplacedfirst

andforemost.Ourtradingpracticesandproceduresprohibitunfairtradingpracticesand

therefore,weseektodiscloseandavoidanyactualorpotentialconflictsofinterestorresolve

suchconflictsintheclient’sfavor.

Althoughexecutingportfoliotransactionsinanaggregatedtransactioncouldpotentiallybe

eitheradvantageousordisadvantageoustoanyoneormoreparticularaccounts,aggregated

transactionswillbeaffectedonlywhenMossAdamsWealthAdvisorsbelievesthattodosowill

beinthebestinterestoftheaffectedaccounts.MossAdamsWealthAdvisorsisnotobligatedto

aggregateordersintolargertransactions.Theseordersgenerallywillbeaverageddailyasto

price.Whensuchaggregatedorcoordinatedtransactionsoccur,theobjectivewillbetoallocate

theexecutionsinamannerwhichisdeemedfairandequitabletoeachoftheaccountsinvolved

overtime.Inmakingsuchallocationdecisions,MossAdamsWealthAdvisorswilladheretoall

applicablelegalandregulatoryrequirementsandwilluseitsbusinessjudgmentandwill

consider,amongotherthings,anyorallofthefollowing:eachclient'sinvestmentobjectives,

guidelinesandrestrictions,thesizeofeachclient'sorder,theamountofinvestmentfunds

availableineachclient'saccount,theamountalreadycommittedbyeachclienttothator

similarinvestments,andthesizeandstructureofeachclient'sportfolio.AlthoughMossAdams

WealthAdvisorswilluseitsbesteffortstobefairandequitabletoallclients,therecanbeno

assurancethatanyparticularinvestmentwillbeproportionatelyallocatedamongclients

accordingtoanyparticularorpredeterminedstandardorcriteria.

March2017 26

D I R E C T E D B R O K E R A G E

MossAdamsWealthAdvisors’policyofprohibitingtheacceptanceofclientinstructionforthe

directionofbrokeragehasbeencommunicatedtorelevantindividualsincludingmanagement,

tradersandportfoliomanagers,amongothers.

Thefirm'sadvisoryagreementsandthisdisclosuredocumentprovidethatthefirmhasdiscretion

astotheselectionofbroker‐dealersanddisclosesthefirm'spolicyofnotacceptingclientdirected

brokerageinstructions.

ReviewofAccountsMossAdamsWealthAdvisorsmonitorsclient’sportfolioswithintheinvestmentmanagement

programonanongoingbasisaccordingtotheparameterssetforthintheirpersonalized

InvestmentPolicyStatement.ForthoseclientswhomMossAdamsWealthAdvisorshasprovided

personalfinancialplanning,investmentconsultingservicesand/orinsurancemanagementand

consulting,reviewsareconductedonanas‐neededbasis.Thesereviewsareconductedbyyour

MossAdamsWealthAdvisors’financialadvisor.

Dependingonyourneeds,youareencouragedtomeetwithyouradvisoreitherquarterly,semi‐

annually,orannuallytoreviewanychangesthatwouldaffectyourstatus,investmentobjectivesor

risktolerance.YourportfolioisrebalancedperiodicallytoadheretoyourcurrentInvestmentPolicy

Statement.MossAdamsWealthAdvisorsfollowsthepracticeofdiversificationthroughasset

classestotrytomeettheoptimalportfolioforyourneeds.

Unlessotherwiseagreedupon,clientsareprovidedwithtransactionconfirmationnoticesand

regularsummaryaccountstatementsfromthebroker‐dealerorcustodianfortheclientaccounts.

ThoseclientswhomMossAdamsWealthAdvisorsprovidesinvestmentmanagementserviceswill

alsoreceiveareportfromMossAdamsWealthAdvisorsthatincludesrelevantaccountand/or

market‐relatedinformationsuchasaninventoryofaccountholdingsandaccountperformanceona

quarterlybasis.ClientsmayoptoutofreceivingtheirMossAdamsWealthAdvisorsreportsormay

electtoreceivethemelectronically.

MossAdamsWealthAdvisors,inconjunctionwiththeservicesprovidedbyByAllAccounts,Inc.,

mayalsoprovideperiodiccomprehensivereportingservices.Thismayincorporateallofyour

investmentassets,includingthoseinvestmentassetsthatarenotpartoftheassetsmanagedbyus.

MossAdamsWealthAdvisorswillnotmaintaintradingauthorityontheseassets.Youandyour

non‐MossAdamsadvisorswillremainexclusivelyresponsiblefortheinvestmentperformanceof

March2017 27

theseoutsideassets.IntheeventyouwouldlikeMossAdamsWealthAdvisorstoprovide

discretionaryinvestmentmanagementservicesontheseoutsideassets,youmayengageustodoso

underthetermsandconditionsofaMossAdamsWealthAdvisorsInvestmentAdvisoryAgreement.

Clientsmayreceivedifferentlevelsofservice(frequencyofreviews,recognitionofholidaysand

birthdays)basedonfactorsconsideredbyMossAdamsWealthAdvisors.Thesefactorsinclude,but

arenotlimitedto:complexityinvolvedinmanagingaclient’saccount,theclient’slevelof

sophistication,clientpreferencesandtotalassetsundermanagement.

ClientReferralsandOtherCompensationInvestmentAdvisorRepresentativesofMossAdamsWealthAdvisorsmayalsobeRegistered

RepresentativesorinsuranceproducersofMossAdamsSecurities&InsuranceLLC(MASI)aFINRA

memberbroker‐dealerandgeneralinsuranceagency.MossAdamsWealthAdvisorsclientshavean

opportunitytopurchaseinsuranceproductsthroughourlicensedinsuranceproducersofMASI,

whichreceivesacommissiononthesaleoftheseproducts.Whenarecommendationismadeto

purchaselifeinsuranceproductsthroughMASIforwhichacommissionisreceivedbyMASI,a

conflictofinterestexists.Thisfinancialincentivemaycreateaconflictofinterestbecausethefirm

mayreceiveadditionalcompensationfortheplacementofcertaininsuranceproducts.AllMoss

AdamsWealthAdvisorrepresentativesreceiveasalarythatisnotbasedontheplacementof

insuranceoranyotherproducts.Commissionsarenotpaidtotheadvisors.

ClientsofMossAdamsWealthAdvisorsmayalsobeclientsofValMark,forinsuranceproduct

placement.ClientsofthisnatureshouldbeawarethatValMarkmaintainsspecialcompensation

relationshipswithavarietyofproviders.Theserelationshipsmaybetermedrevenuesharing,

specialcompensation,marketingallowances,orduediligencecompensation.ValMarkinexchange

forsuchpaymentsfurnishestheproviderswithsupportassistanceinmanyforms,including

increasedaccesstorepresentativesregardingmarketing,training,andeducation.

Inaddition,overridecompensationispaidtoValMarkSecuritiesbysomeinsurancecarriersand

otherfinancialserviceproviders.Overridecompensationisbaseduponsuchfactorsasaggregate

policypremiumspaidtoacarrierfromsalesbyallmemberofficesandaggregateassetsplaced

underfinancialmanagementfromsalesbyallmemberoffices.Theamountofcompensationvaries

amongproductsandcarriers.ValMark’scompletespecialcompensationdisclosurecanbeviewedat

www.valmarksecurities.com.

March2017 28

InthecourseofouraffiliationwithMossAdamsLLP,wemayprovideservicestoMossAdamsLLP’s

clientsandMossAdamsLLPmayprovideservicestoMossAdamsWealthAdvisors’clients.

However,clientsareneverunderanyobligationtouseMossAdamsLLPforanyaccountingor

consultingservices.

CustodyYouhaveauthorizedustodeductperiodicinvestmentadvisoryfeesdirectlyfromoneormoreof

youraccountsmanagedbyMossAdamsWealthAdvisors(unlessotherwiseagreeduponin

writing).Thesedeductionsfromyouraccountareshownontheperiodicstatementssenttoyou

directlybyyourcustodian(SchwaborFidelity).

Inaddition,MossAdamsWealthAdvisorsprovidesquarterlyreportscontaininginformation

regardingyouraccount.Thisinformationisprovidedatyourrequestasaccommodationtoyouin

thereviewofyourinvestmentactivity.Thismaterialisbaseduponinformationincludedinour

recordsand/orinformationreceivedfromyou,youragentand/orathirdparty.MossAdams

WealthAdvisorshasnottakenstepstoindependentlyverifytheinformationprovidedbyyou,your

agentoranythirdpartyforaccuracyorcompleteness.Intheeventofanydiscrepancybetweenthe

informationcontainedinourreportsandtheinformationcontainedinyourmonthlycustodial

accountstatements(Schwab/Fidelity/etc.),thecustodialaccountstatementshouldbereliedupon.

Pleaseimmediatelynotifyyouradvisorofanydiscrepancies.

MossAdamsWealthAdvisorsisdeemedtohavecustodyofcertainclientfundsand/orsecurities

duetoitsaffiliatedentity,MossAdamsLLP,providingbillpayingservicestocertainaccounts.All

cashandsecuritiesaremaintainedwithaqualifiedcustodian,clientsreceiveaccountstatements

directlyfromthecustodianatleastquarterlyandallclientsreceivewrittennotificationofthe

custodianandcontactinformation.

DiscretionMossAdamsWealthAdvisorsusuallyreceivesdiscretionaryauthorityfromitsclientsattheoutset

ofanadvisoryrelationship,asconfirmedwiththesignedInvestmentAdvisoryAgreement.This

agreementgenerallygivesusthediscretiontoinvestfundsinoneormoreaccounts,including

accountsmanagedbysub‐adviserschosenbyus.Discretionmeansthat,withouthavingtoobtain

priorapproval,wemayexecuteinvestmenttransactionsinaportfolioinordertoimplementthe

investmentpolicywehavedevelopedwithaclient.Investmentdiscretiondoesnotincludethe

March2017 29

abilitytoobtainpossessionofthesecuritiesinaportfoliootherthantoprocesstransactionsin

thosesecurities,includingthemovementofsecuritiesorcashfromoneportfolioaccounttoanother

registeredintheclient’sname.AllinvestmentdecisionswillbeguidedbytheInvestmentPolicy

Statement.

ClientsthatdeterminetoengageMossAdamsWealthAdvisorsonanon‐discretionaryinvestment

advisorybasismustbewillingtoacceptthatMossAdamsWealthAdvisorscannoteffectany

accounttransaction(s)withoutobtainingpriorverbalconsenttoanysuchtransaction(s)fromthe

client.Thus,intheeventofamarketcorrectionduringwhichtheclientisunavailable,MossAdams

WealthAdvisorswillbeunabletoeffectanyaccounttransactions(asitwouldforitsdiscretionary

clients)withoutfirstobtainingtheclient’sverbalconsent.Thisincludesattestclientaccounts,

whichhavefurthermanagementlimitationsasstatedintheInvestmentAdvisory

Agreement.

Materialinvestmentrestrictionsthatwouldcauseanaccounttobedeemednotfullydiscretionary

include,butarenotlimitedto:

Restrictingtradingactivitiesconditioneduponclientapproval

Limitingsaleoflegacystock(lowcostbasisormarkedasclientrestricted)

Restricting the purchase of certain securities or types of securities (socially responsible

investinglimitations,etc.)

Whenexercisinginvestmentdiscretion,MossAdamsWealthAdvisorswillnotinvestinInitial

PublicOfferings(IPO’s).

VotingClientSecuritiesAspartofourserviceoffering,wewillvoteproxiesforclientaccountsthatwehavediscretionary

authorityover;however,clientsalwayshavetherighttovoteproxiesthemselves.Clientscan

exercisethisrightbyinstructingusinwritingnottovoteproxiesontheirbehalf.Thisisaddressed

intheInvestmentAdvisoryAgreement.

MossAdamsWealthAdvisorswillvoteproxiesinthebestinterestsofourclientsandinaccordance

withourestablishedpoliciesandprocedures.ThroughanagreementwithBroadridge,anationally

knownshareholderserviceandproxyvotingprovider,MossAdamsWealthAdvisorsutilizestheir

servicestoactasanindependentvotingagenttoensurethatvotingproceduresarecarriedoutand

documented.Broadridgewillretainallproxyvotingbooksandrecordsfortherequisiteperiodof

March2017 30

time,includingacopyofeachproxystatementreceived,arecordofeachvotecast,acopyofany

documentcreatedthatwasmaterialtomakingadecisiononhowtovoteproxies,andacopyof

eachwrittenclientrequestforinformationonhowtheproxywasvoted.

WithrespecttoERISAaccounts,Broadridgewillvoteproxiesunlesstheplandocumentsspecifically

reservetheplansponsor’srighttovoteproxies.Todirectustovoteaproxyinaparticularmanner,

clientsshouldsendallrequestsinwritingtoGidgetFurness,ChiefComplianceOfficer.

Clientscaninstructustovoteproxiesaccordingtoparticularcriteria.Clientscanalsoinstructus

onhowtocasttheirvoteinaparticularproxycontestbyputtingtherequestsinwritingtoGidget

Furness,ChiefComplianceOfficer.

Foracompletecopyoftheproxypolicyorguidelinesandinquiriesregardinghowaspecificproxy

proposalwasvoted,pleasecontactourmainoffice.

FinancialInformationMossAdamsWealthAdvisorsisnotawareofanycircumstancethatisreasonablylikelytoimpair

ourabilitytomeetcontractualcommitmentstoyouorourotherclients.Wedonotrequirepre‐

paymentofinvestmentadvisoryfees.

PrivacyPolicyMossAdamsWealthAdvisors,anindependentinvestmentadvisoryfirm,iscommittedto

safeguardingtheconfidentialinformationofitsclients.Weholdallpersonalinformationprovided

toourfirminthestrictestconfidence.

Theserecordsincludeallpersonalinformationthatwecollectfromyouinconnectionwithanyof

theservicesprovidedbyMossAdamsWealthAdvisors.Wehavenotdisclosedinformationto

nonaffiliatedthirdparties,exceptaspermittedbylaw,anddonotanticipatedoingsointhefuture.

Ifweweretoanticipatesuchachangeinfirmpolicy,wewouldbeprohibitedunderthelawfrom

doingsowithoutadvisingyoufirst.Asyouknow,weusehealthandfinancialinformationthatyou

providetoustohelpyoumeetyourpersonalfinancialgoalswhileguardingagainstanyrealor

perceivedinfringementsofyourrightsofprivacy.Ourpolicywithrespecttopersonalinformation

aboutyouislistedbelow.

Welimitemployeeandagentaccesstoinformationonlytothosewhohaveabusinessor

professionalreasonforknowing,andonlytononaffiliatedpartiesaspermittedbylaw.(For

March2017 31

example,inordertoprovideyouwithproductsandservicesandtoeffecttransactions,we

maydiscloseyourpersonalinformationtounaffiliatedfinancialserviceprovidersandother

companiesthatperformadministrativeorotherservicesonourbehalf).

Wemaintainasecureofficeandcomputerenvironmenttoensurethatyourinformationis

notplacedatunreasonablerisk.

Thecategoriesofnonpublicpersonalinformationthatwecollectfromaclientdependupon

thescopeoftheclientengagement.Itwillincludeinformationaboutyourpersonalfinances,

informationaboutyourhealthtotheextentthatitisneededfortheplanningprocess,

informationabouttransactionsbetweenyouandthirdpartiesandinformationfrom

consumerreportingagencies.

Forunaffiliatedthirdpartiesthatrequireaccesstoyourpersonalinformation,including

financialservicecompanies,consultants,andauditors,wealsorequireconfidentialityinour

agreementswiththemandexpectthemtokeepthisinformationprivate.Federalandstate

regulatorsalsomayreviewfirmrecordsaspermittedunderlaw.

Wedonotprovideyourpersonallyidentifiableinformationtomailinglistvendorsor

solicitorsforanypurpose.

Personallyidentifiableinformationaboutyouwillbemaintainedduringthetimeyouarea

client,andforthetimerequiredbyfederalandstatesecuritieslaws,andconsistentwiththe

CFPBoardCodeofEthicsandProfessionalResponsibility.Afterthisrequiredperiodof

recordretention,allsuchinformationwillbedestroyed.

ThisprivacypolicyappliestoMossAdamsWealthAdvisors,MossAdamsFinancialServicesLLC

andMossAdamsSecurities&InsuranceLLC.

ImportantPrivacyChoiceforCaliforniaResidents:

Youhavetherighttocontrolwhetherwesharesomeofyourpersonalinformation.Youcanrestrict

thesharingofpersonalandfinancialinformationwithouraffiliatesandoutsidecompaniesthatwe

dobusinesswith.Toexercisethischoice,youmustnotifyusinwritingthatyouwishtooptout.

NotificationsmaybesenttotheSeattleoffice.

BusinessContinuityProgramSincetheterroristactivitiesof9/11/2001,alladvisoryfirmsneedtoestablishwrittendisaster

recoveryandbusinesscontinuityplansforthefirm’sbusiness.Thiswillallowadvisorstomeet

theirresponsibilitiestoclientsasafiduciaryinmanagingclientassets,amongotherthings.Italso

March2017 32

allowsafirmtomeetitsregulatoryrequirementsintheeventofanykindofemergencyordisaster,

suchasabombing,fire,flood,earthquake,powerfailureoranyothereventthatmaydisablethe

firmorpreventaccesstoouroffice(s).

Aspartofitsfiduciarydutytoitsclientsandasamatterofbestbusinesspractices,MossAdams

WealthAdvisorshasadoptedpoliciesandproceduresfordisasterrecoveryandforcontinuingMoss

AdamsWealthAdvisors’businessintheeventofanemergencyordisaster.Thesepoliciesare

designedtoallowMossAdamsWealthAdvisorstoresumeprovidingservicetoitsclientsasquickly

aspossible.Thesepoliciesare,totheextentpracticable,designedtoaddressthosespecifictypesof

disastersthatMossAdamsWealthAdvisorsmightreasonablyfacegivenitsbusinessandlocation.

ANYQUESTIONS:TheMossAdamsWealthAdvisors’ChiefComplianceOfficer,Gidget

Furness,remainsavailabletoaddressanyquestionsthataclientorprospectiveclientmay

haveregardingtheabovedisclosuresandarrangements.

March2017‐Supplement 1

Part2B:BrochureSupplementMossAdamsWealthAdvisorsLLC March2017999ThirdAvenue,Suite2800Seattle,WA98104(206)302‐6717ThisBrochureSupplementprovidesinformationaboutadvisorsatMossAdamsWealthAdvisorsLLCandisasupplementtotheMossAdamsWealthAdvisorsbrochure.Youshouldhavereceivedacopyofthatbrochure.Pleasecontactourcompliancedepartmentatadvisors@mossdams.comifyoudidnotreceiveMossAdamsWealthAdvisors’brochureorifyouhaveanyquestionsaboutthecontentsofthissupplement.AdditionalinformationaboutouradvisorsisavailableontheSEC’swebsiteatwww.adviserinfo.sec.gov.

L I S T I N G O F A D V I SO R S C O V E R E D I N T H I S S U PP L E M E N T :

Location Advisor

NorthernCalifornia MarkHuffmanBenShivelyJohnWhiting

SouthernCalifornia RichFriedlandAimeeKwainJasonRomanoJimSchlager

Oregon HeatherHagenChrisWaetzig

Washington

ColtenChristiansonEricaCooganJohndeCarvalhoKathrynHaggittGarrisonJustinFisherRyanFranklinLarsLandrieAaronMcFarlandGeorgeTaylorMarieTaylor


MarkG.HuffmanSeniorFinancialAdvisor3100ZinfandelDrive,5thFloorRanchoCordova,CA95670(916)503‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E MarkG.Huffman,JD,CFP®Yearofbirth:1966FormalEducation:BachelorofArtsinHistory,WilliamsCollege.JurisDoctor,WashingtonandLeeUniversitySchoolofLaw.BusinessBackground: 2014toPresent:SeniorFinancialAdvisorwithMossAdamsWealthAdvisors 2010to2014:FinancialAdvisorwithGenovese,Burford&Brothers

2001to2010:FinancialAdvisorwithMonumentFinancialAdvisors,LLC.AttorneywithWoodman&Eaton,PC.TrustAdministratorwithMonumentGroupFiduciaries,LLC.

Professionaldesignationsheld:CERTIFIEDFINANCIALPLANNER™Practitioner

Foranexplanationoftheminimumqualificationsrequiredforthesedesignations,seeAppendixA

D I S C I P L I N A R Y I N F O R M A T I O N Registeredinvestmentadvisersarerequiredtodiscloseallmaterialfactsregardinganylegalordisciplinaryeventsthatwouldbematerialtoyourevaluationofeachsupervisedpersonprovidinginvestmentadvice.Noinformationisapplicabletothisitem.

O T H E R B U S I N E S S A C T I V I T I E S Registeredinvestmentadvisersarerequiredtodiscloseanyoutsidebusinessactivitiesoroccupationforcompensationthatcouldpotentiallycreateaconflictofinterestwithclients.Mr.Huffmanisnotactivelyengagedinanysuchactivities.

A D D I T I O N A L C O M P E N S A T I O N Registeredinvestmentadvisersarerequiredtodiscloseallmaterialfactsregardinganyadditionalcompensationreceivedbysupervisedpersons.Thiswouldincludeanyeconomicbenefitprovidedtothesupervisedpersonotherthanthesupervisedperson’sregularsalaryandbonus.Noinformationisapplicabletothisitem.

S U P E R V I S I O N Mr.HuffmanissupervisedbyEricaCoogan,PartnerinCharge,andGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,andtheresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understand,andattesttocomplywiththepoliciesandprocedureslocatedwithintheMossAdamsWealthAdvisorscompliancepoliciesandproceduresmanualandthecodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


BenShivelyFinancialAdvisor635CampbellTechnologyParkwayCampbell,CA95008(408)558‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E BenShively,CFP®Yearofbirth:1988FormalEducation:BachelorofBusinessAdministrationinFinanceandEconomics,PacificLutheranUniversityBusinessBackground: 2014toPresent:FinancialAdvisorwithMossAdamsWealthAdvisors

2011to2014:AssociateAdvisorwithMossAdamsWealthAdvisors 2010to2011:ParaplannerwithMossAdamsWealthAdvisorsProfessionaldesignationsheld:

CERTIFIEDFINANCIALPLANNER™Practitioner



O T H E R B U S I N E S S A C T I V I T I E S Registeredinvestmentadvisersarerequiredtodiscloseanyoutsidebusinessactivitiesoroccupationforcompensationthatcouldpotentiallycreateaconflictofinterestwithclients.Mr.Shivelyisnotactivelyengagedinanysuchactivities.


S U P E R V I S I O N Mr.ShivelyissupervisedbyEricaCoogan,PartnerinCharge,andGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,andtheresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understand,andattesttocomplywiththepoliciesandprocedureslocatedwithintheMossAdamsWealthAdvisorscompliancepoliciesandproceduresmanualandthecodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


JohnWhitingPrincipal3558RoundBarnBlvd,Suite300SantaRosa,CA95403(707)535‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E JohnWhiting,CFP®,AIFA®Yearofbirth:1958FormalEducation:BachelorofScienceinBusinessAdministration,CaliforniaStateUniversityatHumboldtBusinessBackground: 2007toPresent:PrincipalwithMossAdamsWealthAdvisors 2001to2007:FinancialAdvisorwithMossAdamsWealthAdvisorsProfessionaldesignationsheld:

CERTIFIEDFINANCIALPLANNER™PractitionerAccreditedInvestmentFiduciaryAnalyst™designee



O T H E R B U S I N E S S A C T I V I T I E S Mr.WhitingisalsoaregisteredrepresentativeofMossAdamsSecurities&InsuranceLLC,aFINRAmemberbroker/dealerandgeneralinsuranceagency.AMossAdamsWealthAdvisorsinvestmentadvisorrepresentativemayreferclientstoMossAdamsSecurities&Insurance.Asalimitedbroker/dealer,MossAdamsSecurities&Insuranceprovidesservicesforopenendedmutualfunds,529plans,andvariableorfixedinsurance.ItshouldbenotedthatMossAdamsWealthAdvisors,thefirm,receivescommissionsandpaystheirrepresentativesasalarynotbasedontheplacementofsuchproducts.


S U P E R V I S I O N Mr.WhitingissupervisedbyEricaCoogan,PartnerinCharge,andGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,andtheresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understand,andattesttocomplywiththepoliciesandprocedureslocatedwithintheMossAdamsWealthAdvisorscompliancepoliciesandproceduresmanualandthecodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


RichFriedlandFinancialAdvisor21700OxnardStSuite300WoodlandHills,CA91367(310)295‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E RichFriedland,CFP®Yearofbirth:1983FormalEducation:BachelorofScienceinBusinessAdministration,UniversityofSouthernCalifornia;MastersofBusinessAdministration,UniversityofSouthernCaliforniaBusinessBackground: 2015toPresent:FinancialAdvisorwithMossAdamsWealthAdvisors

2012to2015:AssociateAdvisorwithMossAdamsWealthAdvisors 2007to2012:AssociateAdvisorwithWellsFargoAdvisorsProfessionaldesignationsheld:

CERTIFIEDFINANCIALPLANNER™PractitionerForanexplanationoftheminimumqualificationsrequiredforthesedesignations,seeAppendixA


O T H E R B U S I N E S S A C T I V I T I E S Mr.FriedlandisalsoaregisteredrepresentativeofMossAdamsSecurities&InsuranceLLC,aFINRAmemberbroker/dealerandgeneralinsuranceagency.AMossAdamsWealthAdvisorsinvestmentadvisorrepresentativemayreferclientstoMossAdamsSecurities&Insurance.Asalimitedbroker/dealer,MossAdamsSecurities&Insuranceprovidesservicesforopenendedmutualfunds,529plans,andvariableorfixedinsurance.ItshouldbenotedthatMossAdamsWealthAdvisors,thefirm,receivescommissionsandpaystheirrepresentativesasalarynotbasedontheplacementofsuchreceiveproducts.


S U P E R V I S I O N Mr.FriedlandissupervisedbyEricaCoogan,PartnerinCharge,andGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,andtheresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understand,andattesttocomplywiththepoliciesandprocedureslocatedwithintheMossAdamsWealthAdvisorscompliancepoliciesandproceduresmanualandthecodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


AimeeKwainSeniorInsuranceSpecialist2121RosecransAvenueSuite2390ElSegundo,CA90245(310)295‐3733(310)295‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E AimeeKwain,JDYearofbirth:1972FormalEducation:BachelorofArtsinSociologyandCriminology,UniversityofToronto,withHonors;JurisDoctor,SouthwesternUniversitySchoolofLawBusinessBackground:

2008toPresent:SeniorInsuranceSpecialistwithMossAdamsWealthAdvisorsJuly2012toPresent:RegisteredRepresentativeatValMarkSecurities,Inc.2002to2007:ConsultantwithPacificLifeInsuranceCompany


O T H E R B U S I N E S S A C T I V I T I E S Ms.Kwainisalsoaregisteredrepresentativeand/orinsuranceproducerofMossAdamsSecurities&InsuranceLLC,aFINRAmemberbroker/dealerandgeneralinsuranceagency.AMossAdamsWealthAdvisorsinvestmentadvisorrepresentativemayreferclientstoMossAdamsSecurities&Insurance.Asalimitedbroker/dealer,MossAdamsSecurities&Insuranceprovidesservicesforopenendedmutualfunds,529plans,andvariableorfixedinsurance.AsaninsuranceproducerofMossAdamsSecurities&Insurance,thisindividualmayalsorecommendthepurchaseofaninsuranceproduct.ItshouldbenotedthatMossAdamsWealthAdvisors,thefirm,receivescommissionsandpaystheirrepresentativesasalarynotbasedontheplacementofsuchproducts.

Ms.KwainisaregisteredrepresentativeofValMarkSecurities,Inc.,aFINRAregisteredbroker/dealer(“ValMark”)andmaysellsecuritiesproductsthroughthem.YouarenotrequiredtoeffectsecuritiestransactionsthroughValMark;youmayuseanybroker/dealeryoudesire.ForsecuritiestransactionsplacedthroughValMark,commissionsforsecuritiespaidpursuanttoaprospectuswillbethesame.However,commissionsorfeesforothersecuritiestransactionsmaybehigherorlowerifplacedthroughValMarkthanifplacedthroughanotherbroker/dealer.Ms.KwainisalsoaffiliatedwithExecutiveInsuranceAgency,Inc.(EIA),ageneralinsuranceagencythatrepresentsnumerousinsurancecompanies.AnyinsuranceproductplacedthroughEIAmaygeneratestandardandcustomaryinsurancecommissionsandothersums,aportionofwhichmaybepaidtoMossAdamsSecurities&Insurance.AllcommissionsgeneratedasaregisteredrepresentativeofValMarkSecuritiesandExecutiveInsuranceAgencyarereceivedbyMossAdamsSecurities&Insurance.Ms.KwainreceivesasalaryfromMossAdamsWealthAdvisorsnotbasedontheplacementofanyproduct.



S U P E R V I S I O N Ms.KwainissupervisedbyEricaCoogan,PartnerinCharge,andGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,andtheresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understand,andattesttocomplywiththepoliciesandprocedureslocatedwithintheMossAdamsWealthAdvisorscompliancepoliciesandproceduresmanualandthecodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


JasonRomanoPrincipal21700OxnardStreet,Suite300WoodlandHills,CA91367(310)295‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E JasonRomano,CFP®,AIF®Yearofbirth:1971FormalEducation:BachelorofArtsinPsychology,UniversityofCaliforniaatLosAngelesBusinessBackground: 2006toPresent:PrincipalwithMossAdamsWealthAdvisors 2000to2006:FinancialAdvisorwithMossAdamsWealthAdvisorsProfessionaldesignationsheld:

CERTIFIEDFINANCIALPLANNER™PractitionerAccreditedInvestmentFiduciary™designee



O T H E R B U S I N E S S A C T I V I T I E S Mr.RomanoisalsoaregisteredrepresentativeofMossAdamsSecurities&InsuranceLLC,aFINRAmemberbroker/dealerandgeneralinsuranceagency.AMossAdamsWealthAdvisorsinvestmentadvisorrepresentativemayreferclientstoMossAdamsSecurities&Insurance.Asalimitedbroker/dealer,MossAdamsSecurities&Insuranceprovidesservicesforopenendedmutualfunds,529plans,andvariableorfixedinsurance.ItshouldbenotedthatMossAdamsWealthAdvisors,thefirm,receivescommissionsandpaystheirrepresentativesasalarynotbasedontheplacementofsuchproducts.


S U P E R V I S I O N Mr.RomanoissupervisedbyEricaCoogan,PartnerinCharge,andGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,andtheresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understand,andattesttocomplywiththepoliciesandprocedureslocatedwithintheMossAdamsWealthAdvisorscompliancepoliciesandproceduresmanualandthecodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


JimSchlagerPrincipal2121RosecransAvenueSuite2390ElSegundo,CA90245(310)295‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E JimSchlager,CFP®,CLU®,ChFC®,CTFAYearofbirth:1963FormalEducation:BachelorofScienceinSportsManagement,WashingtonStateUniversityMasterofScience,CollegeofFinancialPlanningBusinessBackground: 1995toPresent:PrincipalwithMossAdamsWealthAdvisorsProfessionaldesignationsheld:

CERTIFIEDFINANCIALPLANNER™PractitionerCharteredFinancialConsultant®CharteredLifeUnderwriter®

CertifiedTrustandFinancialAdvisor



O T H E R B U S I N E S S A C T I V I T I E S Mr.SchlagerisalsoaregisteredrepresentativeofMossAdamsSecurities&InsuranceLLC,aFINRAmemberbroker/dealerandgeneralinsuranceagency.AMossAdamsWealthAdvisorsinvestmentadvisorrepresentativemayreferclientstoMossAdamsSecurities&Insurance.Asalimitedbroker/dealer,MossAdamsSecurities&Insuranceprovidesservicesforopenendedmutualfunds,529plans,andvariableorfixedinsurance.ItshouldbenotedthatMossAdamsWealthAdvisors,thefirm,receivescommissionsandpaystheirrepresentativesasalarynotbasedontheplacementofsuchproducts.


S U P E R V I S I O N Mr.SchlagerissupervisedbyEricaCoogan,PartnerinCharge,andGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,andtheresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understand,andattesttocomplywiththepoliciesandprocedureslocatedwithintheMossAdamsWealthAdvisorscompliancepoliciesandproceduresmanualandthecodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


HeatherHagenPortfolioManager805SWBroadway,Suite1200Portland,OR97205(503)478‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E HeatherHagen,CFP®,AIF®Yearofbirth:1983FormalEducation:BachelorofScienceinBusiness,WesternOregonUniversityBusinessBackground: 2014toPresent:PortfolioManagerwithMossAdamsWealthAdvisors2013to2014:SeniorInvestmentAssociatewithMossAdamsWealthAdvisors

2010to2012:AssociateAdvisorwithMossAdamsWealthAdvisors 2009to2010:ParaplannerwithMossAdamsWealthAdvisors 2006to2009:AdministrativeAssistantwithMossAdamsWealthAdvisorsProfessionaldesignationsheld:




O T H E R B U S I N E S S A C T I V I T I E S Registeredinvestmentadvisersarerequiredtodiscloseanyoutsidebusinessactivitiesoroccupationforcompensationthatcouldpotentiallycreateaconflictofinterestwithclients.Ms.Hagenisnotactivelyengagedinanysuchactivities.


S U P E R V I S I O N

Ms.HagenissupervisedbyEricaCoogan,PartnerinCharge,andGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,andtheresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understand,andattesttocomplywiththepoliciesandprocedureslocatedwithintheMossAdamsWealthAdvisorscompliancepoliciesandproceduresmanualandthecodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


ChrisWaetzigFinancialAdvisor805SWBroadway,Suite1200Portland,OR97205(503)471‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E ChrisWaetzigYearofbirth:1987FormalEducation:

MasterofAccountancy,FinancialAccountingandReporting,GonzagaUniversityBachelorofBusinessAdministration,Accounting,GonzagaUniversity

BusinessBackground:2016topresent:FinancialAdvisorwithMossAdamsWealthAdvisors2015to2015:AssociateAdvisorwithMossAdamsWealthAdvisors2013to2015:ParaplannerwithMossAdamsWealthAdvisors

2012to2013:BusinessAssuranceSeniorAssociatewithMossAdamsLLP2010to2012:BusinessAssuranceStaffAssociatewithMossAdamsLLP

Professionaldesignationsheld:CERTIFIEDFINANCIALPLANNER™Practitioner(CFP®)CertifiedPublicAccountant(CPA)PersonalFinancialSpecialist(PFS)


O T H E R B U S I N E S S A C T I V I T I E S Registeredinvestmentadvisersarerequiredtodiscloseanyoutsidebusinessactivitiesoroccupationforcompensationthatcouldpotentiallycreateaconflictofinterestwithclients.Mr.Waetzigisnotactivelyengagedinanysuchactivities.


S U P E R V I S I O N Mr.WaetzigissupervisedbyEricaCoogan,PartnerinCharge,andGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,andtheresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understand,andattesttocomplywiththepoliciesandprocedureslocatedwithintheMossAdamsWealthAdvisorscompliancepoliciesandproceduresmanualandthecodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


ColtenChristiansonFinancialAdvisor999ThirdAvenue,Suite2800Seattle,WA98104(206)302‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E ColtenChristiansonCFP®Yearofbirth:1988FormalEducation:BachelorofEconomics,WestmontCollegeBusinessBackground: 2016topresent:FinancialAdvisorwithMossAdamsWealthAdvisors

2015to2016:AssociateAdvisorwithMossAdamsWealthAdvisors2013to2015:ParaplannerwithMossAdamsWealthAdvisors

2011to2013:ClientRelationsAssociatewithParametricProfessionaldesignationsheld:


Foranexplanationoftheminimumqualificationsrequiredforthisdesignation,seeAppendixA


O T H E R B U S I N E S S A C T I V I T I E S

Registeredinvestmentadvisersarerequiredtodiscloseanyoutsidebusinessactivitiesoroccupationforcompensationthatcouldpotentiallycreateaconflictofinterestwithclients.Mr.Christiansonisnotactivelyengagedinanysuchactivities.

A D D I T I O N A L C O M P E N S A T I O N Registeredinvestmentadvisersarerequiredtodiscloseallmaterialfactsregardinganyadditionalcompensationreceivedbysupervisedpersons.Thiswouldincludeanyeconomicbenefitprovidedtothesupervisedpersonotherthanthesupervisedperson’sregularsalaryandbonus.Noinformationisapplicabletothisitem.Noinformationisapplicabletothisitem.

S U P E R V I S I O N Mr.ChristiansonissupervisedbyEricaCoogan,PartnerinCharge,andGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,andtheresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understand,andattesttocomplywiththepoliciesandprocedureslocatedwithintheMossAdamsWealthAdvisorscompliancepoliciesandproceduresmanualandthecodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


EricaCooganPrincipal,PartnerinCharge999ThirdAvenue,Suite2800Seattle,WA98104(206)302‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E EricaCoogan,CFP®Yearofbirth:1976FormalEducation:BachelorofArtsinCommunication,UniversityofArizona,MagnaCumLaudeBusinessBackground:

2016toPresent:PartnerinChargewithMossAdamsWealthAdvisors 2008toPresent:PrincipalwithMossAdamsWealthAdvisors

2007to2008:FinancialAdvisorwithMossAdamsWealthAdvisors 2002to2006:Co‐AdvisorwithMossAdamsWealthAdvisorsProfessionaldesignationsheld:




O T H E R B U S I N E S S A C T I V I T I E S Ms.CooganisalsoaregisteredrepresentativeofMossAdamsSecurities&InsuranceLLC,aFINRAmemberbroker/dealerandgeneralinsuranceagency.AMossAdamsWealthAdvisorsinvestmentadvisorrepresentativemayreferclientstoMossAdamsSecurities&Insurance.Asalimitedbroker/dealer,MossAdamsSecurities&Insuranceprovidesservicesforopenendedmutualfunds,529plans,andvariableorfixedinsurance.ItshouldbenotedthatMossAdamsWealthAdvisors,thefirm,receivescommissionsandpaystheirrepresentativesasalarynotbasedontheplacementofsuchproducts.

A D D I T I O N A L C O M P E N S A T I O N Registeredinvestmentadvisersarerequiredtodiscloseallmaterialfactsregardinganyadditionalcompensationreceivedbysupervisedpersons.Thiswouldincludeanyeconomicbenefitprovidedtothesupervisedpersonotherthanthesupervisedperson’sregularsalaryandbonus.Noinformationisapplicabletothisitem.Noinformationisapplicabletothisitem.

S U P E R V I S I O N SupervisionofMs.Coogan’sinvestmentadvisoryservicesisconductedbyGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,andtheresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understand,andattesttocomplywiththepoliciesandprocedureslocatedwithintheMossAdamsWealthAdvisorscompliancepoliciesandproceduresmanualandthecodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


JohndeCarvalhoChiefInvestmentOfficer999ThirdAvenue,Suite2800Seattle,WA98104(206)302‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E JohndeCarvalho,CFA®Yearofbirth:1971FormalEducation:BachelorofAdministrationinFinance&Economics,UniversityofWashingtonBusinessBackground: 2014toPresent:ChiefInvestmentOfficerwithMossAdamsWealthAdvisors 2005to2014:DirectorofPortfolioManagement,RainierGroupInvestmentAdvisory,LLC

2000to2005:Analyst(Research,Treasury,MutualFunds)SafecoLife&Investments/SymetraFinancial

1998to2000:PersonalBanker,RoyalBankofCanadaProfessionaldesignationsheld:

CHARTEREDFINANCIALANALYST®Foranexplanationoftheminimumqualificationsrequiredforthesedesignations,seeAppendixA


O T H E R B U S I N E S S A C T I V I T I E S

Registeredinvestmentadvisersarerequiredtodiscloseanyoutsidebusinessactivitiesoroccupationforcompensationthatcouldpotentiallycreateaconflictofinterestwithclients.Mr.deCarvalhoisnotactivelyengagedinanysuchactivities.


S U P E R V I S I O N Mr.deCarvalhoissupervisedbyEricaCoogan,PartnerinCharge,andGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,andtheresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understand,andattesttocomplywiththepoliciesandprocedureslocatedwithintheMossAdamsWealthAdvisorscompliancepoliciesandproceduresmanualandcodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


KathrynHaggittGarrisonSeniorFinancialAdvisor999ThirdAvenue,Suite2800Seattle,WA98104(206)302‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E KathrynHaggittGarrison,CFP®Yearofbirth:1968FormalEducation:BachelorofArtsinAmericaStudies,StanfordUniversity;PostGraduateStudies,SouthernStudies,fromUniversityofMississippiBusinessBackground:

2012toPresent:SeniorFinancialAdvisorwithMossAdamsWealthAdvisors2007to2012:FinancialAdvisorwithMossAdamsWealthAdvisors2002to2007:GiftPlanningOfficerwithUniversityofWashington

Professionaldesignationsheld:CERTIFIEDFINANCIALPLANNER™Practitioner

Foranexplanationoftheminimumqualificationsrequiredforthisdesignation,seeAppendixA.


O T H E R B U S I N E S S A C T I V I T I E S Ms.GarrisonisalsoaregisteredrepresentativeofMossAdamsSecurities&InsuranceLLC,aFINRAmemberbroker/dealerandgeneralinsuranceagency.AMossAdamsWealthAdvisorsinvestmentadvisorrepresentativemayreferclientstoMossAdamsSecurities&Insurance.Asalimitedbroker/dealer,MossAdamsSecurities&Insuranceprovidesservicesforopenendedmutualfunds,529plans,andvariableorfixedinsurance.ItshouldbenotedthatMossAdamsWealthAdvisors,thefirm,receivescommissionsandpaystheirrepresentativesasalarynotbasedontheplacementofsuchproducts.


S U P E R V I S I O N Ms.GarrisonissupervisedbyEricaCoogan,PartnerinCharge,andGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,andtheresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understand,andattesttocomplywiththepoliciesandprocedureslocatedwithinMossAdamsWealthAdvisors’compliancepoliciesandproceduresmanualandcodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


JustinFisherPrincipal1301AStreet,Suite600Tacoma,WA98402(253)284‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E JustinFisher,CFP®,AIFA®Yearofbirth:1979FormalEducation:BachelorofScienceinBusinessManagement,UnitedStatesAirForceAcademy;MasterofBusinessAdministration,PortfolioTheory&FinancialAnalysis,UniversityofWashingtonBusinessBackground:

2017toPresent:NationalLeader–PrivateClientsPracticewithMossAdamsLLP 2014toPresent:PrincipalwithMossAdamsWealthAdvisors2008to2014:SeniorFinancialAdvisorwithMossAdamsWealthAdvisors

2007to2008:TaxStaffwithMossAdamsLLP 2006to2007:BusinessManagerwithAtkinsonConstruction 2002to2006:CaptainintheUnitedStatesAirForceProfessionaldesignationsheld:

CERTIFIEDFINANCIALPLANNER™PractitionerAccreditedInvestmentFiduciaryAnalyst®



O T H E R B U S I N E S S A C T I V I T I E S Mr.FisherisalsoaregisteredrepresentativeofMossAdamsSecurities&InsuranceLLC,aFINRAmemberbroker/dealerandgeneralinsuranceagency.AMossAdamsWealthAdvisorsinvestmentadvisorrepresentativemayreferclientstoMossAdamsSecurities&Insurance.Asalimitedbroker/dealer,MossAdamsSecurities&Insuranceprovidesservicesforopenendedmutualfunds,529plans,andvariableorfixedinsurance.ItshouldbenotedthatMossAdamsWealthAdvisors,thefirm,receivescommissionsandpaystheirrepresentativesasalarynotbasedontheplacementofsuchproducts.


S U P E R V I S I O N

Mr.FisherissupervisedbyEricaCoogan,PartnerinCharge,andGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,and


theresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understand,andattesttocomplywiththepoliciesandprocedureslocatedwithinMossAdamsWealthAdvisors’compliancepoliciesandproceduresmanualandcodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


RyanFranklinSeniorFinancialAdvisor402EastYakimaAvenue,Suite100Yakima,WA98907(509)834‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E RyanFranklin,CFP®,CPA/PFSYearofbirth:1975FormalEducation:BachelorofArtsinBusinessAdministrationwithanemphasisinAccounting,WashingtonStateUniversityBusinessBackground: 2010toPresent:SeniorFinancialAdvisorwithMossAdamsWealthAdvisors 2006to2010:TaxSeniorManagerwithMossAdamsLLPProfessionaldesignationsheld:

CERTIFIEDFINANCIALPLANNER™PractitionerCertifiedPublicAccountant/PersonalFinancialSpecialist



O T H E R B U S I N E S S A C T I V I T I E S Registeredinvestmentadvisersarerequiredtodiscloseanyoutsidebusinessactivitiesoroccupationforcompensationthatcouldpotentiallycreateaconflictofinterestwithclients.Mr.Franklinisnotactivelyengagedinanysuchactivities.


S U P E R V I S I O N Mr.FranklinissupervisedbyEricaCoogan,PartnerinCharge,andGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,andtheresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understand,andattesttocomplywiththepoliciesandprocedureslocatedwithintheMossAdamsWealthAdvisorscompliancepoliciesandproceduresmanualandcodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


LarsLandriePrincipal2707ColbyAvenue,Suite801Everett,WA98201(425)303‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E LarsLandrie,CFP®,AIFA®Yearofbirth:1959FormalEducation:BachelorofScienceinFinance,CentralWashingtonUniversityBusinessBackground: 2008toPresent:PrincipalwithMossAdamsWealthAdvisors 2001to2008:FinancialAdvisorwithMossAdamsWealthAdvisorsProfessionaldesignationsheld:

CERTIFIEDFINANCIALPLANNER™PractitionerAccreditedInvestmentFiduciaryAnalyst®

Foranexplanationoftheminimumqualificationsrequiredforthesedesignations,seeAppendixA.


O T H E R B U S I N E S S A C T I V I T I E S Mr.LandrieisalsoaregisteredrepresentativeofMossAdamsSecurities&InsuranceLLC,aFINRAmemberbroker/dealerandgeneralinsuranceagency.AMossAdamsWealthAdvisorsinvestmentadvisorrepresentativemayreferclientstoMossAdamsSecurities&Insurance.Asalimitedbroker/dealer,MossAdamsSecurities&Insuranceprovidesservicesforopenendedmutualfunds,529plans,andvariableorfixedinsurance.ItshouldbenotedthatMossAdamsWealthAdvisors,thefirm,receivescommissionsandpaystheirrepresentativesasalarynotbasedontheplacementofsuchproducts.


S U P E R V I S I O N Mr.LandrieissupervisedbyEricaCoogan,PartnerinCharge,andGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,andtheresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understand,andattesttocomplywiththepoliciesandprocedureslocatedwithinMossAdamsWealthAdvisors’compliancepoliciesandproceduresmanualandcodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


AaronMcFarlandFinancialAdvisor999ThirdAvenue,Suite2800Seattle,WA98104(206)302‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E AaronMcFarland,CFP®,AIF®Yearofbirth:1982FormalEducation:BachelorofScienceinFinance,LinfieldCollegeBusinessBackground:

2011topresent:FinancialAdvisorwithMossAdamsWealthAdvisors 2009to2011:AssociateAdvisorwithMossAdamsWealthAdvisors

2005to2008:CasePrepSpecialistwithMossAdamsWealthAdvisorsProfessionaldesignationsheld:




O T H E R B U S I N E S S A C T I V I T I E S Mr.McFarlandisalsoaregisteredrepresentativeofMossAdamsSecurities&InsuranceLLC,aFINRAmemberbroker/dealerandgeneralinsuranceagency.AMossAdamsWealthAdvisorsinvestmentadvisorrepresentativemayreferclientstoMossAdamsSecurities&Insurance.Asalimitedbroker/dealer,MossAdamsSecurities&Insuranceprovidesservicesforopenendedmutualfunds,529plans,andvariableorfixedinsurance.ItshouldbenotedthatMossAdamsWealthAdvisors,thefirm,receivescommissionsandpaystheirrepresentativesasalarynotbasedontheplacementofsuchproducts.

A D D I T I O N A L C O M P E N S A T I O N

Registeredinvestmentadvisersarerequiredtodiscloseallmaterialfactsregardinganyadditionalcompensationreceivedbysupervisedpersons.Thiswouldincludeanyeconomicbenefitprovidedtothesupervisedpersonotherthanthesupervisedperson’sregularsalaryandbonus.Noinformationisapplicabletothisitem.

S U P E R V I S I O N Mr.McFarlandissupervisedbyEricaCoogan,PartnerinCharge,andGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,andtheresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understand,andattesttocomplywiththepoliciesandprocedureslocatedwithintheMossAdamsWealthAdvisorscompliancepoliciesandproceduresmanualandthecodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


GeorgeTaylorSeniorPortfolioManager999ThirdAvenue,Suite2800Seattle,WA98104(206)302‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E GeorgeTaylorYearofbirth:1957FormalEducation:BachelorofArtsinBusinessAdministrationandAccounting,UniversityofWashingtonBusinessBackground: 1997toPresent:SeniorPortfolioManagerwithMossAdamsWealthAdvisors


O T H E R B U S I N E S S A C T I V I T I E S Mr.TaylorisalsoaregisteredrepresentativeofMossAdamsSecurities&InsuranceLLC,aFINRAmemberbroker/dealerandgeneralinsuranceagency.AMossAdamsWealthAdvisorsinvestmentadvisorrepresentativemayreferclientstoMossAdamsSecurities&Insurance.Asalimitedbroker/dealer,MossAdamsSecurities&Insuranceprovidesservicesforopenendedmutualfunds,529plans,andvariableorfixedinsurance.ItshouldbenotedthatMossAdamsWealthAdvisors,thefirm,receivescommissionsandpaystheirrepresentativesasalarynotbasedontheplacementofsuchproducts.


S U P E R V I S I O N Mr.TaylorissupervisedbyEricaCoogan,PartnerinCharge,andGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,andtheresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understandandattesttocomplywiththepoliciesandprocedureslocatedwithintheMossAdamsWealthAdvisorscompliancepoliciesandproceduresmanualandthecodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


MarieTaylorFinancialAdvisor999ThirdAvenue,Suite2800Seattle,WA98104(206)302‐[email protected]

E D U C A T I O N A L B A C K G R O U N D A N D B U S I N E S S E X P E R I E N C E MarieTaylorYearofbirth:1956FormalEducation:BachelorofScienceinNutritionandFoods,UniversityofWashingtonBusinessBackground: 1997toPresent:FinancialAdvisorwithMossAdamsWealthAdvisors


O T H E R B U S I N E S S A C T I V I T I E S Ms.TaylorisalsoaregisteredrepresentativeofMossAdamsSecurities&InsuranceLLC,aFINRAmemberbroker/dealerandgeneralinsuranceagency.AMossAdamsWealthAdvisorsinvestmentadvisorrepresentativemayreferclientstoMossAdamsSecurities&Insurance.Asalimitedbroker/dealer,MossAdamsSecurities&Insuranceprovidesservicesforopenendedmutualfunds,529plans,andvariableorfixedinsurance.ItshouldbenotedthatMossAdamsWealthAdvisors,thefirm,receivescommissionsandpaystheirrepresentativesasalarynotbasedontheplacementofsuchproducts.


S U P E R V I S I O N Ms.TaylorissupervisedbyEricaCoogan,PartnerinCharge,andGidgetFurness,ChiefComplianceOfficerofMossAdamsWealthAdvisors.MossAdamsWealthAdvisorshasacontinuingresponsibilitytoadheretotheInvestmentAdvisorsActof1940,includingthesupervisionof,andtheresponsibilityfor,financialadvisorsandanyoneactingonbehalfofMossAdamsWealthAdvisorstoread,understandandattesttocomplywiththepoliciesandprocedureslocatedwithintheMossAdamsWealthAdvisorscompliancepoliciesandproceduresmanualandthecodeofethicsmanual.Ms.CooganorMs.Furnessmaybereachedat(206)302‐6717.


AppendixA:ProfessionalDesignationsQualificationsThissummaryofProfessionalDesignationsisprovidedtoassistyouinevaluatingtheprofessionalandminimumrequirementsofourinvestmentprofessionalstoholdthesedesignations.

C E R T I F I E D F I N A N C I A L P L A N N E R ™ P R A C T I T I O N E R ( C F P ® ) : TheCERTIFIEDFINANCIALPLANNER™,CFP®andfederallyregisteredCFP(withflamedesign)marks(collectively,the“CFP®marks”)areprofessionalcertificationmarksgrantedintheUnitedStatesbyCertifiedFinancialPlannerBoardofStandards,Inc.(“CFPBoard”).

TheCFP®certificationisavoluntarycertification;nofederalorstatelaworregulationrequiresfinancialplannerstoholdCFP®certification.ItisrecognizedintheUnitedStatesandanumberofothercountriesforits(1)highstandardofprofessionaleducation,(2)stringentcodeofconductandstandardsofpractice,and(3)ethicalrequirementsthatgovernprofessionalengagementswithclients.Currently,morethan62,000individualshaveobtainedCFP®certificationintheUnitedStates.

ToattaintherighttousetheCFP®marksanindividualmustsatisfactorilyfulfillthefollowingrequirements:

Education–Completeanadvancedcollege‐levelcourseofstudyaddressingthefinancialplanningsubjectareasthatCFPBoard’sstudieshavedeterminedasnecessaryforthecompetentandprofessionaldeliveryoffinancialplanningservices,andattainabachelor’sdegreefromaregionallyaccreditedUnitedStatescollegeoruniversity(oritsequivalentfromaforeignuniversity).CFPBoard’sfinancialplanningsubjectareasincludeinsuranceplanningandriskmanagement,employeebenefitsplanning,investmentplanning,incometaxplanning,retirementplanning,andestateplanning;

Examination–PassthecomprehensiveCFP®certificationexamination.Theexamination,administeredintenhoursoveratwo‐dayperiodincludescasestudiesandclientscenariosdesignedtotestone’sabilitytocorrectlydiagnosefinancialplanningissuesandapplyone’sknowledgeoffinancialplanningtorealworldcircumstances;

Experience–Completeatleastthreeyearsoffull‐timefinancialplanning‐relatedexperience(ortheequivalent,measuredas2,000hoursperyear);and

Ethics–AgreetobeboundbyCFPBoard’sStandardsofProfessionalConduct,asetofdocumentsoutliningtheethicalandpracticestandardsforCFP®professionals.

IndividualswhobecomecertifiedmustcompletethefollowingongoingeducationandethicsrequirementsinordertomaintaintherighttocontinuetousetheCFP®marks:

ContinuingEducation–Complete30hoursofcontinuingeducationhourseverytwoyears,includingtwohoursontheCodeofEthicsandotherpartsoftheStandardsofProfessionalConduct,tomaintaincompetenceandkeepupwithdevelopmentsinthefinancialplanningfield;and

Ethics–RenewanagreementtobeboundbytheStandardsofProfessionalConduct.TheStandardsprominentlyrequirethatCFP®professionalsprovidefinancialplanningservicesatafiduciarystandardofcare.ThismeansCFP®professionalsmustprovidefinancialplanningservicesinthebestinterestsoftheirclients.


CFP®professionalswhofailtocomplywiththeabovestandardsandrequirementsmaybesubjecttoCFPBoard’senforcementprocesswhichcouldresultinsuspensionorpermanentrevocationoftheirCFP®certification.

C H A R T E R E D F I N A N C I A L A N AL Y S T ® ( C F A ) : TheCharteredFinancialAnalyst(CFA)isagloballyrespected,graduate‐levelinvestmentcredentialestablishedin1962andawardedbyCFAinstitute–thelargestglobalassociationofinvestmentprofessionals.

Therearecurrentlymorethan90,000CFAcharterholdersworkingin134countries.ToearntheCFAcharter,candidatesmust:1)passthreesequential,six‐hourexaminations;2)haveatleastfouryearsofqualifiedprofessionalinvestmentexperience;3)joinCFAInstitutemembers;and4)committoabideby,andannuallyreaffirm,theiradherencetotheCFAinstituteCodeofEthicsandStandardsofProfessionalConduct.

TheCFAInstituteCodeofEthicsandStandardsofProfessionalConduct,enforcedthroughanactiveprofessionalconductprogramrequireCFAcharterholdersto:

Placetheirclients’interestsaheadoftheirown Maintainindependenceandobjectivity Actwithintegrity Maintainandimprovetheirprofessionalcompetence Discloseconflictsofinterestandlegalmatters

PassingthethreeCFAexamsisadifficultfeatthatrequiresextensivestudy(successfulcandidatesreportspendinganaverageof300hoursofstudyperlevel).EarningtheCFAcharterdemonstratesmasteryofmanyoftheadvancedskillsneededforinvestmentanalysisanddecisionmakingintoday’squicklyevolvingglobalfinancialindustry.

TheCFAprogramcurriculumprovidesacomprehensiveframeworkofknowledgeforinvestmentdecisionmakingandisfirmlygroundedintheknowledgeandskillsusedeverydayintheinvestmentprofession.Thecurriculumisupdatedeveryyeartoensurethatcandidateslearnthemostrelevantandpracticalnewtools,ideas,andinvestmentandwealthmanagementskills.

A C C R E D I T E D I N V E S T M E N T F I D U C I A R Y ® D E S I G N E E / A C C R E D I T E D I N V E S T M E N T F I D U C I A R Y A N A L Y S T T M ( A I F ® & A I F A ® ) : AIFandAIFAdesigneeshaveacquiredathoroughknowledgeoffiduciaryresponsibilityandcanbeaninvaluableresourcetoinvestmentfiduciariesandindividualinvestorsalike.AnAIFdesignationrepresentsthatperson’sknowledgeofaGlobalFiduciaryStandardofExcellenceandtheirapplicationoftheglobalstandardintotheirownpractice.AnAIFAdesigneehasreceivedthesametrainingonafiduciarystandard,complementedbytrainingonISO‐likeassessmentprocedurestoassesswhetherotherfiduciariesconformtothestandardofexcellence.

AIFandAIFADesigneeshavesuccessfullycompletedaspecializedprogramoninvestmentfiduciarystandardsofcare.Fi360trainingbeganin1999toprovidetheinvestmentindustrywiththefirstfull‐timetrainingandresearchorganizationfocusedexclusivelyoninvestmentfiduciaryresponsibilityandportfoliomanagement.


Designeesarerequiredtocompleteatrainingprogram,successfullypassanexamination,conformtoacodeofethics,andadheretocontinuingeducationrequirementsonayearlybasis.Theserequirementsensuredesigneesarefamiliarwiththeprudentprocessdevelopedbyfi360,aswellaskeptup‐to‐datewithrecentindustryeventsaffectingfiduciaries.

AIF designees must:

Accruesixhoursofcontinuingprofessionaleducationwithatleastfourcomingfromfi360‐producedsources

Attesttoacodeofethics Maintaincurrentcontactinformationinfi360'sdesigneedatabase

Prerequisites: TobecomeanAIFA,onemusthavegraduatedfromfi360'straining.Inaddition,therearespecificprerequisiteworkexperiences.

AIFA designees must:

Accruetenhoursofcontinuingprofessionaleducationwithatleastsixcomingfromfi360‐producedsources

Attesttoacodeofethics Maintaincurrentcontactinformationinfi360'sdesigneedatabase

A C C R E D I T E D A S S E T M A N A G E M E N T S P E C I A L I S T S M ( A A M S ® ) :

ToobtaintheAAMS,theprofessionalmustsuccessfullycompletetheprogram,passthefinalexamination,andcomplywiththeCodeofEthics.IndividualswhoholdtheAAMSdesignationhavecompletedacourseofstudyencompassinginvestments,insurance,tax,retirement,andestateplanningissues.Theprogramisdesignedforapproximately120‐150hoursofself‐studyandmustbecompletedwithinoneyear.

C E R T I F I E D P U B L I C A C C O U N T A N T ( C P A ) : CPAsarelicensedandregulatedbytheirstateboardsofaccountancy.Whilestatelawsandregulationsvary,theeducation,experience,andtestingrequirementsforlicensureasaCPAgenerallyincludeminimumcollegeeducation(typically150credithourswithatleastabachelor’sdegreeandaconcentrationinaccounting),minimumexperiencelevels(moststatesrequireatleastoneyearofexperienceprovidingservicesthatinvolvetheuseofaccounting,attest,compilation,managementadvisory,financialadvisory,taxorconsultingskills,allofwhichmustbeachievedunderthesupervisionoforverificationbyaCPA)andsuccessfulpassageoftheUniformCPAExamination.

InordertomaintainaCPAlicense,statesgenerallyrequirethecompletionof40hoursofcontinuingprofessionaleducation(CPE)eachyear(or80hoursoveratwoyearperiodor120hoursoverathreeyearperiod).Additionally,allAmericanInstituteofCertifiedPublicAccountants(AICPA)membersarerequiredtofollowarigorousCodeofProfessionalConductwhichrequiresthattheyactwithintegrity,objectivity,duecare,competence,fullydiscloseanyconflictsofinterest(andobtainclientconsentifaconflictexists),maintainclientconfidentiality,disclosetotheclientanycommissionorreferralfees,andservethepublicinterestwhenprovidingfinancialservices.


ThevastmajorityofstateboardsofaccountancyhaveadoptedtheAICPA’sCodeofProfessionalConductwithintheirstateaccountancylawsorhavecreatedtheirown.

P E R S O N A L F I N A N C I A L S P EC I A L I S T (P F S ) :

ThePFScredentialdemonstratesthatanindividualhasmettheminimumeducation,experience,andtestingrequiredofaCPAinadditiontoaminimumlevelofexpertiseinpersonalfinancialplanning.ToattainthePFScredential,acandidatemustholdanunrevokedCPAlicense,fulfill3,000hoursofpersonalfinancialplanningbusinessexperience,complete80hoursofpersonalfinancialplanningCPEcredits,passacomprehensivefinancialplanningexam,andbeanactivememberoftheAICPA.

APFScredentialholderisrequiredtoadheretoAICPA’sCodeofProfessionalConductandisencouragedtofollowAICPA’sStatementonResponsibilitiesinFinancialPlanningPractice.TomaintaintheirPFScredential,therecipientmustcomplete60hoursoffinancialplanningCPEcreditseverythreeyears.ThePFScredentialisadministeredthroughtheAICPA.

C H A R T E R E D L I F E U N D E R W R I T E R ® ( C L U ® ) : ThisdesignationisissuedbyTheAmericanCollegeandisgrantedtoindividualswhohaveatleastthreeyearsoffull‐timebusinessexperiencewithinthefiveyearsprecedingtheawardingofthedesignation.Thecandidateisrequiredtotakeaseriesofmandatorycourseswhichinclude,forexample,thefollowing:insuranceplanning,lifeinsurancelaw,fundamentalsofestateplanning,planningforbusinessowners,incometaxation,groupbenefits,planningforretirementneeds,andinvestments.Eachcoursehasafinalproctoredexamandonceissuedtheindividualisrequiredtosubmit30hoursofcontinuingeducationeverytwoyears.

C H A R T E R E D F I N A N C I A L C O N S U L T A N T ® ( C H F C ® ) :

ThisdesignationisissuedbytheAmericanCollege.CandidatesfortheChFC®designationmustcompleteaminimumofeightcollegelevelcoursesonallaspectsoffinancialplanningandsixteenhoursofsupervisedexaminations.Theymustalsofulfillstringentexperienceandethicsrequirements.Theaveragestudytimefortheprogramisover400hoursandadvisorsfrequentlyspendyearsearningthisdistinction.EachChFC®mustalsocompleteaminimumof30hoursofcontinuingeducationeverytwoyears.

C H A R T E R E D T R U S T A N D F I N A N C I A L A D V I S O R ( C T F A ) :

ThisdesignationisissuedbytheInstituteofCertifiedBankers.CandidatesfortheCTFAdesignationmusthaveaminimumof3years’experienceinpersonaltrustandcompletionofanICBapprovedpersonaltrusttrainingprogram,orfiveyears’experienceinpersonaltrustandabachelor’sdegreeortenyears’experienceinpersonaltrustandpassacomprehensiveandchallengingexamthatcoversfiduciaryresponsibilitiesandtrustactivities,personalfinance,insuranceandestateplanning,taxlaw,andinvestmentmanagement.EachCTFAmustalsocompleteaminimumof45hoursofcontinuingeducationeverythreeyears.

moss adams wealth advisors disclosure brochure march 2017 · formalizing your plan is an important...

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