Client Relationship Summary

Form CRS

Broadlake Financial Management is an investment advisory firm registered with the Securities and Exchange Commission. We feel it is important for you to understand the differences between the services and fees that an investment advisor provides, versus that of a brokerage firm. Here, we will address some areas of our business we feel are important to highlight, but you will also find informative resources available for free to help you evaluate investment professionals at:  www.investor.gov/crs

What investment services and advice can you provide me? 

We provide investment advisory services to individuals and organizations for an ongoing asset-based fee. Our services include account management, financial planning, and consultations on wealth transfers, estate planning, tax planning, education funding, and charitable giving. Importantly, we do not have lawyers or accountants on staff, so the purpose of these consultations is to help you assess the potential need for additional professional services.  

If you open an account through our firm, we will meet with you to understand your current financial situation, existing resources, goals, and risk tolerance. Based on what we learn, we will recommend a portfolio of investments we believe will appropriately help you meet these goals. We would then provide ongoing discretionary management of your accounts. This means we would not need to call you when we buy or sell an investment. We would regularly review the investment positions of your portfolios and make changes we believe benefit you. Additionally, upon review of your portfolio, we would make adjustments as necessary to stay within tolerance of an agreed upon allocation. Additional information about our advisory services is located in Item 4 of our firm brochure which is available online at www.broadlakefinancial.com. 

Questions to ask us

• Given my financial situation, should I choose an investment advisory service? Why, or why not? 
• How will you choose investments to recommend to me?  
• What is your relevant experience, including your licenses, education and other qualifications? What do these qualifications mean? 

What fees will I pay? 

The fee rate you will be charged depends upon the total value of assets we manage for your household. The highest applicable rate is 1% annually, and tiers down from there depending on asset level, or non-profit status. The management fee is divided into 4 quarterly amounts and is typically billed to your managed account directly. Additionally, there may be fees charged by the custodian of your account such as record keeping or brokerage fees; and internal operating expenses of some investments that we recommend for you. Our firm has no financial ties to any other organization, so please ask us about these outside fees and how we work to keep them low. You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying. You can find examples, more details, and our fee schedule in Item 5 of our brochure. We will send you a copy of this upon request, or you may download it from our website at www.broadlakefinancial.com. 

Questions to ask us

• Help me understand how these fees and costs will affect my investments. If I give you $100,000 to invest, how much will go to fees and costs and how much will be invested for me?  
• How do you determine what fee I will be charged? 

What are your legal obligations to me when acting as my investment adviser? How else does your firm make money and what conflicts of interest do you have? 

When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the investment advice we provide you. Here are some examples to help you understand what this means. 

Our firm’s revenue is strictly from advisory fees we collect from client accounts each quarter. Therefore, we have a financial interest in bringing into our management any outside assets you may have such as 401ks, annuities, or other investments.

Additional information about potential areas for conflicts of interest and how we have addressed them can be found in our firm brochure under item 11 which is available on our website at www.broadlakefinancial.com. 

Questions to ask us

• How might your conflicts of interest affect me, and how will you address them? 

How do your Financial professionals make money?

Our financial professionals are employees of the firm and are paid a fixed annual salary. They also receive on a quarterly basis a portion of the advisory fees that the firm collects from any new (within one year) client account that each advisor manages.

Do you or your financial professionals have legal or disciplinary history?

No, neither our firm nor any of our financial professionals have legal or disciplinary history. You may visit investor.gov/crs for a free and simple search tool to research our firm and our financial professionals.

Questions to ask us

• As a financial professional, do you have any disciplinary history? For what type of conduct? 

Additional Information

You can find additional information about our firm’s investment advisory services on the SEC’s website at www.adviserinfo.sec.gov by searching CRD# 105057. Additionally, you may call our office at 802-863-4463 and speak to any member of our team directly.

Questions to ask us

• Who is my primary contact person? 
• Is he or she a representative of the investment adviser? 
• Who can I talk to if I have concerns about how this person is treating me?