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A. Left Brain Wealth Management, LLC
Left Brain Wealth Management, LLC (“LBWM” and/or “the firm”), is an Illinois limited liability
company. Noland Langford is the firm’s sole member. The firm has been providing investment
advisory services since May 2014.
B. Advisory Services Offered
LBWM is an independent asset management and financial planning firm offering a variety of
financial services to individuals, trusts, corporations, partnerships, retirement plans, tax exempt
and other legal entities.
Discretionary Asset Management Services
For its discretionary asset management services, LBWM receives a limited power of attorney to
effect securities transactions on behalf of its clients that include securities and strategies
described in Item 8 of this brochure.
LBWM’s discretionary asset management services are predicated on the client's investment
objectives, goals, tolerance for risk, and other personal and financial circumstances. LBWM will
analyze each client's current investments, investment objectives, goals, age, time horizon,
financial circumstances, investment experience, investment restrictions and limitations, and risk
tolerance and implement a portfolio consistent with such investment objectives, goals, risk
tolerance and related financial circumstances. LBWM’s objective is to review the client’s tax,
financial, and estate planning objectives and goals in connection with the client’s investment
objectives, goals, tolerance for risk, and other personal and financial circumstances and make
appropriate recommendations and implementation decisions. LBWM may engage third-party
service providers to assist with the tax and estate planning portion of the services provided to
clients. In addition, LBWM may utilize third-party software to analyze individual security holdings
and separate account managers utilized within the client’s portfolio.
LBWM’s investment advisory services to clients take into account a client's personal financial
circumstances, investment objectives and tolerance for risk (e.g., cash-flow, tax and estate).
LBWM’s engagement with a client will include, as appropriate, the following:
▪ Providing assistance in reviewing the client's current investment portfolio against the
client's personal and financial circumstances as disclosed to LBWM in response to a
questionnaire and/or in discussions with the client and reviewed in meetings with LBWM.
▪ Analyzing the client's financial circumstances, investment holdings and strategy, and
goals.
▪ Providing assistance in identifying a targeted asset allocation and portfolio design.
▪ Implementing and/or recommending individual equity and fixed income securities,
mutual funds and ETFs.
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▪ Proposing changes in the client's investment portfolio in consideration of changes in the
client's personal circumstances, investment objectives and tolerance for risk, the
performance record of any of the client's investments, and/or the performance of any
fund retained by the client.
▪ If the client’s portfolio and personal circumstances, investment objectives, and tolerance
for risk make such advice appropriate, providing recommendations to hedge a client’s
portfolio through the use of derivative strategies, to generate additional income through
the use of covered call option writing strategies involving exchange listed or OTC
options, and/or to monetize or hedge concentrated stock positions.
In addition to providing LBWM with information regarding their personal financial
circumstances, investment objectives and tolerance for risk, clients have the right to provide the
firm with any reasonable investment restrictions that should be imposed on the management of
their portfolio, and to promptly notify the firm in writing of any changes in such restrictions or in
the client's personal
financial circumstances, investment objectives, goals and tolerance for risk.
On a quarterly basis, LBWM’s reports to clients will remind clients of their obligation to inform
the firm of any such changes or any restrictions that should be imposed on the management of
the client’s account. LBWM will also contact clients at least annually to determine whether there
have been any changes in a client's personal financial circumstances, investment objectives and
tolerance for risk.
Financial Planning Services
In addition to its asset management services, LBWM offers financial planning services. Clients
who contract for this service will receive a written or oral report (depending on the client’s
preference) providing a basic financial plan designed to help achieve their stated financial goals
and objectives. Based on the client’s needs, financial planning services may include (but are not
limited to) the following:
▪ Preparation of a recommended asset allocation that serves to diversify the client's
portfolio among different categories of investments, such as domestic and international
small, medium, and large capitalization securities; corporate and government fixed
income (short-, intermediate-, and long-term maturities); emerging market securities (i.e.,
foreign issuers); real estate investment trusts; and such other alternative asset categories
that are suitable in light of the client's investment goals, objectives, and risk tolerance.
▪ Preparation of a retirement plan that serves to identify whether the client is saving
enough and investing in a way that meets retirement objectives in light of the client's
financial circumstances and risk tolerance.
▪ Preparation of cash flow projections to ensure that the client can meet daily living
expenses and obligations.
▪ Insurance planning to meet the needs of the client, taking into account family, business,
and other financial objectives of the client.
LBWM gathers required information through in-depth personal interviews and questionnaires.
Information gathered includes a client's current financial status, investment objectives, future
goals, and attitudes toward risk. Related documents supplied by the client are carefully
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reviewed, and a report is prepared covering one or more of the above-mentioned topics as
directed by the client.
401(k) Consultative Services
Upon completing a questionnaire provided by the firm, LBWM will provide a one-time review of
the performance of the client’s 401(k) account and provide the client with a report of the firm’s
investment advice, including allocation advice, regarding the investment alternatives offered by
the Plan in accordance with the client's risk tolerance and investment goals as set forth in the
questionnaire.
Fund Portfolio Management
LBWM serves as the investment manager to the Left Brain Capital Appreciation Master Fund,
LDT; Left Brain Capital Appreciation Fund, L.P.; and Left Brain Capital Appreciation Offshore, LDT
(the “Funds”), and continuously manages the Funds’ assets based on the investment goals and
objectives as outlined in the Funds’ offering documents.
C. Client-Tailored Services and Client-Imposed Restrictions
Each client’s account will be managed on the basis of the client’s financial situation and
investment objectives and in accordance with any reasonable restrictions imposed by the client
on the management of the account—for example, restricting the type or amount of security to
be purchased in the portfolio.
D. Wrap Fee Programs
LBWM does not participate in wrap fee programs, where brokerage commissions and
transaction costs are included in the asset-based fee charged to the client.
E. Client Assets Under Management
As of December 31, 2023, LBWM had $243,403,334 of discretionary assets under management.