Zoe Financial Inc

​Item 5: Fees and Compensation​
​Investment Management Fees​

​ oe​ ​Financial​ ​provides​ ​investment​ ​management​ ​services​ ​to​ ​Wealth​ ​Advisory​​Program​​Clients​
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​for​​an​​annual​​fee​​based​​on​​a​​percentage​​of​​assets​​under​​management.​​The​​annual​​advisory​​fee​
 ​ranges​ ​up​ ​to​ ​1.25%​ ​and​ ​is​ ​negotiable​ ​based​ ​on​ ​asset​ ​levels,​ ​account​ ​complexity,​ ​services​
  ​elected, and other factors.​

​ ees​​are​​billed​​quarterly,​​in​​arrears,​​based​​on​​the​​account's​​asset​​value​​as​​of​​the​​last​​business​
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​day​ ​of​ ​the​ ​calendar​ ​quarter.​ ​Zoe​ ​instructs​ ​Apex​ ​to​ ​deduct​ ​the​ ​advisory​ ​fee​ ​directly​ ​from​ ​the​
 ​Client​​Account.​​Concurrently​​with​​each​​fee​​deduction,​​Zoe​​provides​​the​​Client​​with​​an​​itemized​
  ​statement showing the fee amount and calculation methodology.​

​ or​​accounts​​opened​​or​​terminated​​during​​a​​billing​​period,​​the​​advisory​​fee​​is​​prorated​​based​​on​
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​the​​number​​of​​days​​the​​account​​was​​open​​during​​the​​period.​​Deposits​​to​​or​​withdrawals​​from​​a​
 ​Client​​Account​​of​​$100,000​​or​​more​​during​​a​​billing​​period​​will​​result​​in​​a​​prorated​​adjustment​​to​
  ​the advisory fee for that period.​

​Financial Planning Fees​

​ oe​ ​charges​ ​a​ ​fixed​ ​fee​ ​for​ ​providing​ ​financial​ ​planning​ ​and​ ​consulting​ ​services​ ​under​ ​a​
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​stand-alone​​engagement.​​These​​fees​​are​​negotiable,​​but​​may​​be​​as​​high​​as​​$40,000,​​for​​some​
 ​clients,​ ​depending​ ​upon​ ​the​ ​scope​ ​and​ ​complexity​ ​of​ ​the​ ​services​ ​and​ ​the​ ​professional​
  ​rendering​​the​​financial​​planning​​and/or​​the​​consulting​​services.​​If​​the​​Client​​engages​​the​​Firm​​for​
   ​additional​ ​investment​ ​advisory​ ​services,​ ​Zoe​ ​may​ ​offset​ ​all​ ​or​ ​a​ ​portion​ ​of​ ​its​ ​fees​ ​for​ ​those​
    ​services based upon the amount paid for the financial planning and/or consulting services.​

​ he​​terms​​and​​conditions​​of​​the​​financial​​planning​​and/or​​consulting​​engagement​​are​​set​​forth​​in​
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​the​​Client’s​​investment​​advisory​​agreement​​with​​Zoe​​and​​Zoe​​charges​​its​​fees​​upon​​completion​
 ​of​ ​the​ ​agreed​ ​upon​ ​services.​ ​The​ ​Firm​ ​does​ ​not,​ ​however,​ ​take​ ​receipt​ ​of​ ​$1,200​ ​or​ ​more​ ​in​
  ​prepaid fees in excess of six months in advance of services rendered.​

​Fee Discretion​
​ oe​​may,​​in​​its​​sole​​discretion,​​negotiate​​to​​charge​​a​​lesser​​fee​​based​​upon​​certain​​criteria,​​such​
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​as​ ​anticipated​ ​future​ ​earning​ ​capacity,​ ​anticipated​ ​future​ ​additional​ ​assets,​ ​dollar​ ​amount​ ​of​
 ​assets​ ​to​ ​be​ ​managed,​ ​related​ ​accounts,​ ​account​ ​composition,​ ​pre-existing/legacy​ ​Client​
  ​relationship, account retention and pro bono activities.​

​Other Fees and Expenses​

I​n​ ​addition​ ​to​ ​advisory​ ​fees​ ​charged​ ​by​ ​Zoe,​ ​Clients​ ​may​ ​be​ ​responsible​ ​for​ ​additional​ ​fees,​
 ​including​​but​​not​​limited​​to,​​fees​​embedded​​in​​the​​securities​​purchased​​on​​a​​Client's​​behalf.​​For​
  ​example,​ ​mutual​ ​funds​ ​and​ ​ETFs​ ​held​ ​in​ ​your​ ​account​ ​can​ ​incur​ ​additional​ ​administrative​
   ​charges​ ​and/or​ ​fees​ ​or​ ​expenses,​ ​which​ ​may​ ​include​ ​management​ ​and​ ​administrative​ ​fees,​

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​ 2b-1​​fees​​and​​related​​servicing​​or​​marketing​​expenses,​​sub-transfer​​agent​​fees,​​deferred​​sales​

​charges​ ​and​​other​​fees​​or​​expenses.​​Please​​consult​​the​​applicable​​prospectus​​or​​statement​​of​
 ​additional​ ​information​ ​relating​ ​to​ ​your​ ​investments​ ​for​ ​more​ ​information.​ ​When​ ​investing​ ​in​
  ​mutual​​funds,​​the​​Custodian​​may​​charge​​Zoe,​​Zoe​​Securities,​​or​​the​​Client​​an​​asset-based​​fee​
   ​when​ ​Clients​ ​invest​ ​in​ ​certain​ ​funds​ ​and​ ​share​ ​classes.​ ​In​ ​certain​ ​cases,​ ​you​ ​may​ ​incur​
    ​transaction fees in addition to fees charged by the mutual fund.​

​ lients​ ​may​ ​also​ ​be​ ​responsible​ ​for​ ​certain​ ​service​ ​fees​ ​and​ ​certain​ ​fees​ ​charged​ ​by​ ​Zoe​
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​Securities​​and​​Apex​​that​​are​​not​​part​​of​​Zoe's​​advisory​​fees.​​Zoe​​Securities'​​fees​​are​​described​
 ​in​ ​the​ ​Zoe​ ​Securities​ ​Fee​ ​Schedule,​ ​available​​on​​Zoe's​​website​​at​​www.zoefinancial.com.​​Zoe​
  ​Securities​ ​earns​ ​revenue​ ​in​ ​the​ ​form​ ​of​ ​payment​ ​for​ ​order​ ​flow,​ ​and​ ​interest​ ​on​ ​fully​ ​paid​
   ​securities​ ​lending​ ​activities,​ ​and​ ​may​ ​earn​ ​a​ ​portion​ ​of​ ​the​ ​interest​ ​generated​ ​on​ ​Client​ ​cash​
    ​balances​ ​held​ ​with​ ​Apex.​ ​The​ ​receipt​ ​of​ ​revenue​ ​directly​ ​associated​ ​with​ ​Client​ ​transactions​
     ​raises​ ​a​ ​conflict​ ​of​ ​interest​ ​in​ ​that​ ​Zoe​ ​Securities​ ​has​ ​an​ ​incentive​ ​to​ ​encourage​ ​trading.​ ​For​
      ​additional​ ​information​ ​about​ ​Zoe​ ​Securities​ ​and​ ​this​ ​conflict,​ ​please​ ​see​ ​Item​ ​10​ ​of​ ​this​
       ​Brochure.​

I​n​​addition,​​Zoe's​​advisory​​fees​​do​​not​​cover​​fees​​associated​​with​​certain​​securities​​transactions​
 ​in​​Clients'​​accounts,​​including:​​(a)​​transaction​​fees;​​(b)​​dealer​​markups,​​markdowns​​or​​spreads​
  ​charged​ ​on​ ​transactions​ ​in​ ​over-the-counter​ ​securities;​ ​(c)​ ​costs​ ​relating​ ​to​ ​trading​ ​in​ ​certain​
   ​foreign​ ​securities;​ ​(d)​ ​brokerage​ ​commissions​ ​or​ ​other​ ​charges​ ​imposed​ ​by​ ​broker-dealers​ ​or​
    ​entities​ ​other​ ​than​ ​the​​Custodian​​if​​and​​when​​trades​​are​​cleared​​by​​a​​broker-dealer​​other​​than​
     ​Apex;​ ​and​ ​(e)​ ​the​ ​charge​ ​to​ ​carry​ ​tax​ ​lot​ ​information​ ​on​ ​transferred​ ​mutual​ ​funds​ ​or​ ​other​
      ​investment​ ​vehicles,​ ​postage​ ​and​ ​handling​ ​charges,​ ​returned​ ​check​ ​charges,​ ​transfer​ ​taxes,​
       ​stock​ ​exchange​ ​fees​ ​or​ ​other​ ​fees​ ​mandated​ ​by​ ​law.​ ​In​ ​addition,​ ​Zoe's​ ​advisory​ ​fees​ ​do​ ​not​
...

​Item 7: Types of Clients​
​ ypes of Clients​
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​Zoe​ ​provides​ ​investment​ ​advisory​ ​services​ ​through​ ​the​ ​Wealth​ ​Advisory​ ​Program​ ​directly​ ​to​
 ​individuals, high-net-worth individuals, trusts, and other legal entities.​

​ inimum Account Size​
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​Zoe​ ​does​ ​not​​impose​​a​​minimum​​account​​size​​for​​the​​Wealth​​Advisory​​Program.​​Zoe​​reserves​
 ​the right to impose a minimum in the future.​

​ unding Your Account​
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​Clients​ ​may​ ​fund​ ​their​ ​Client​ ​Accounts​ ​by​ ​cash​ ​transfers​ ​using​ ​ACH​ ​(Automated​ ​Clearing​
 ​House), checks, or wires sent to Apex directly.​

​ ithdrawal​
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​Clients​ ​may​ ​terminate​ ​their​ ​relationship​ ​with​ ​the​ ​Wealth​ ​Advisory​ ​Program​ ​at​ ​any​ ​time​ ​by​
 ​providing​ ​written​ ​notice​ ​to​ ​Zoe​ ​in​ ​accordance​ ​with​ ​the​ ​terms​ ​of​ ​their​ ​investment​ ​advisory​
  ​agreement with Zoe.​

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I​tem​​8:​​Methods​​of​​Analysis,​​Investment​​Strategies,​​&​​Risk​​of​
 ​Loss​
​ ethods of Analysis​
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​Zoe​ ​Financial​ ​uses​ ​the​ ​following​ ​methods​ ​of​ ​analysis​ ​in​ ​formulating​ ​investment​ ​advice​ ​and​
 ​managing​​Client​​portfolios.​​Investing​​in​​securities​​involves​​risk​​of​​loss​​that​​Clients​​should​
  ​be prepared to bear. Past performance is not a guarantee of future returns.​

​Modern Portfolio Theory​

  ​Zoe​ ​applies​ ​modern​ ​portfolio​ ​theory​ ​in​​constructing​​the​​asset​​allocations​​underlying​​its​​model​
​ ortfolios.​​Modern​​portfolio​​theory​​seeks​​to​​maximize​​expected​​portfolio​​return​​for​​a​​given​​level​
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​of​ ​risk,​ ​or​ ​to​ ​minimize​ ​risk​ ​for​ ​a​ ​given​ ​expected​ ​return,​ ​by​ ​diversifying​ ​among​ ​asset​ ​classes.​
 ​Market risk is common to all securities and cannot be eliminated through diversification.​

​Fundamental Analysis​

​ or​ ​individual​ ​equity​ ​and​ ​fixed​ ​income​ ​securities​ ​held​ ​in​ ​custom​ ​portfolios​ ​or​ ​retained​ ​from​ ​a​
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​Client's​ ​prior​ ​account,​ ​the​ ​In-House​ ​IAR​ ​considers​ ​fundamental​ ​factors​ ​that​ ​may​ ​include​ ​the​
 ​issuer's​ ​financial​ ​condition,​ ​earnings,​ ​industry​ ​position,​ ​and​ ​other​ ​measures​ ​of​ ​issuer-level​
  ​financial​ ​health.​ ​Fundamental​ ​analysis​ ​does​ ​not​ ​guarantee​ ​that​ ​any​ ​security​ ​selected​ ​will​
   ​perform as expected.​

​Quantitative Analysis of Investment Products​

​ oe​ ​selects​ ​the​ ​ETFs​ ​used​ ​in​ ​its​ ​model​ ​portfolios​ ​based​ ​on​​factors​​that​​may​​include​​expense​
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​ratios,​ ​tracking​ ​error,​ ​liquidity,​ ​assets​ ​under​ ​management,​ ​sponsor​ ​reputation,​ ​structural​
 ​characteristics,​ ​and​ ​tax​ ​efficiency.​ ​Products​ ​meeting​ ​these​ ​criteria​ ​may​ ​nevertheless​
  ​underperform expectations or lose value.​

​Periodic Reviews.​

​ oe's​ ​Chief​ ​Investment​ ​Officer,​ ​supported​ ​by​ ​Zoe's​​investment​​professionals,​​reviews​​portfolio​
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​composition,​​asset​​class​​weightings,​​and​​fund​​selections​​on​​a​​quarterly​​basis.​​Reviews​​are​​also​
 ​conducted​ ​on​ ​an​ ​ad​ ​hoc​ ​basis​ ​in​ ​response​ ​to​ ​material​ ​market​ ​events,​ ​changes​ ​in​ ​fund​
  ​characteristics, or other developments. Zoe does not maintain a formal investment committee.​

​Information Sources​

​ oe​ ​draws​ ​on​ ​a​ ​range​ ​of​ ​sources​ ​for​ ​research​ ​and​ ​analysis,​ ​including​ ​financial​ ​media,​
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​third-party research, fund sponsor materials, and Zoe's own internal analysis.​

​ oe​​uses​​third-party​​artificial​​intelligence​​tools​​to​​support​​investment​​research,​​portfolio​​analysis,​
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​and​ ​risk​ ​monitoring.​ ​These​ ​tools​ ​are​ ​decision-support​ ​resources​ ​only.​ ​The​ ​AI​ ​tools​ ​do​ ​not​
 ​independently​ ​make​ ​investment​ ​decisions,​ ​select​ ​securities,​ ​or​ ​execute​ ​trades.​ ​All​​investment​
  ​decisions remain subject to review and approval by Zoe's investment professionals.​

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​Investment Strategies​

I​n​ ​providing​ ​investment​ ​management​ ​services​ ​to​ ​Clients,​ ​Zoe​ ​utilizes​ ​one​ ​or​ ​more​ ​of​ ​the​
 ​following investment strategies:​

​Zoe Constructed Portfolios​

​ ortfolios​​for​​which​​Zoe​​selects​​the​​underlying​​securities​​and​​the​​weightings​​of​​those​​securities​
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​for​ ​each​ ​allocation.​ ​These​ ​portfolios​ ​are​ ​composed​ ​primarily​ ​of​ ​publicly​ ​traded​ ​ETFs​ ​and​ ​are​
 ​designed​ ​to​ ​provide​ ​diversified​ ​exposure​ ​across​ ​asset​ ​classes​ ​consistent​ ​with​ ​the​ ​Client's​
  ​selected​ ​risk​ ​profile.​ ​Zoe​ ​Constructed​ ​Portfolios​ ​are​ ​the​ ​primary​ ​investment​ ​strategy​ ​used​ ​for​
   ​Clients.​

​Third-Party Model Portfolios​

​ oe​ ​makes​ ​available​ ​third-party​ ​model​ ​portfolios​ ​constructed​ ​and​ ​maintained​ ​by​ ​independent​
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​model​ ​providers.​ ​Zoe​ ​does​ ​not​ ​select​ ​the​ ​underlying​ ​securities​ ​in​ ​third-party​ ​models.​ ​Zoe​
 ​conducts​ ​periodic​​reviews​​of​​third-party​​models​​to​​confirm​​continued​​availability​​and​​operation,​
  ​but​ ​the​ ​third-party​ ​manager​ ​—​ ​not​ ​Zoe​ ​—​ ​is​ ​responsible​ ​for​ ​the​ ​model's​ ​construction​ ​and​
   ​ongoing​ ​maintenance.​ ​Updates​ ​to​ ​third-party​ ​models​ ​are​ ​implemented​ ​by​ ​Zoe​ ​after​ ​the​
    ​third-party​ ​manager​ ​delivers​ ​them,​ ​which​ ​may​ ​occur​ ​after​ ​the​ ​same​ ​updates​ ​are​ ​delivered​ ​to​
     ​other users.​

​Thematic and Concentrated Portfolios​

​ oe​ ​offers​ ​portfolios​ ​targeted​ ​to​ ​specific​ ​investment​ ​exposures,​ ​including​ ​sector-focused​ ​and​
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​factor-based portfolios.​

​Operational Cash Allocation​

​ oe's​​portfolios​​include​​a​​small​​operational​​cash​​allocation,​​used​​first​​to​​cover​​fees,​​withdrawals,​
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​and​ ​other​ ​portfolio​ ​management​ ​actions,​ ​reducing​ ​the​ ​frequency​ ​of​​selling​​securities​​for​​small​
 ​transactions.​

​Custom Portfolios​

I​n-House​ ​IARs​ ​may​ ​construct​ ​custom​ ​portfolios​ ​for​ ​Clients​ ​based​ ​on​ ​the​ ​Client's​ ​specific​
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