ServicesOffered Butler Financial Services, Inc. (BFS) primarily provides investment management services, and some financial planning, to individuals, families, and institutional investors.Ourclientsincludeindividuals,families,trusts,corporations,profit-sharing plans,charitableorganizations,endowmentsandfoundations.Thefirmhasbeenin businesssince1996.
Investment Management: Approximately 90% of our work is related to investmentresearchandmanagementforourclients.Clientinvestmentsaretypically managedonadiscretionarybasis.Seebelowformoreinformationondiscretionary andnon-discretionarymanagementofBFSclientinvestments.
Wealth Management: The following services fall under the header of wealth management,andareexclusivelyavailabletoourinvestmentmanagementclients:
• Financialplanning,whichaddressesissuessuchasinsuranceandretirement modeling,aswellaswealthtransferandliquidity&cashflowsmanagement issues.

• Budget counseling, wherein the firm assists the Client in the crafting of a budget, identifying modes of tracking expenditure (i.e. via Quicken, Quickbooks,Mintetc.),andfromtimetotimemeetswiththeClienttoreview howit’sgoing.

• Familyofficeservices,whichmayincludebudget/expensetrackingservices, financialplanning&administration,aswellasthemonitoringofassetssuch asrealestateinvestmentsandothersmallbusinessorprivateinvestments.
Theseactivitiestakeupapproximately10%ofourtime.
Financial Consulting: From time to time we provide consulting services to individualsandfamilies,typicallyonanadhocbasisbecausetheclientwishestodive intoaparticularfinancialissue,andthisisalmostalwaysdoneforexistinginvestment managementclients.Theresponsibilityforimplementation,ifapplicable,fallstothe consultingclient.
*** Thefirmiscompensatedforallservicesonlybythefeeschargedtotheclient.The firmreceivesnocommissionsofanysort.
Investments are typically managed on a discretionary basis by Butler Financial Services,Inc..Thismeanswetypicallyhavetheright,withoutobtainingspecificclient consent,todeterminethesecuritiesthatareboughtorsoldinclientaccounts,andthe amountsofthosetransactions.
However,

this discretion is generally limited to general securities, mutual funds, variableannuities,options,bonds,certificatesofdeposit,governmentsecurities,and other publicly-traded marketable securities of a similar nature. Our discretion is furtherlimitedinthatwecannotwithdrawfundsfromclientaccounts,otherthanfor managementfees.
Itisthefirm’sprocesstoestablishaninvestmentpolicystatement(ideallywritten) with the client, reflective of the client’s risk profile and the returns sought by the client.Oncethepolicyiscrafted,thereisthematterofimplementation.Thisisthe context by which the firm manages client assets on a discretionary basis: to implementtheinvestmentplan.
Discretionary Authority: When the Advisory Client authorizes Butler Financial to trade (i.e. buy, sell, transfer) the investment holdings in the Advisory Client’s account(s),anddoessobydintoflimitedpowerofattorneyformsandapplications and other approved letters that are submitted to and approved by the custodian/broker(i.e.CharlesSchwab&Co.ora401kplanadministrator);andwhen the Advisory Client also authorizes this activity by dint of an Advisory Services contractwiththeFirm–thentheAdvisoryClientisthusauthorizingButlerFinancial tomanagetheseaccountsinadiscretionarymanner.
In cases where the Client does not want Butler Financial to implement in a discretionarymanner,orwhenButlerFinancialcannotmanageonadiscretionary basisduetolackoflimitedpowerofattorneyaccesstospecificaccounts,thenthe responsibilityformakingtradesorinvestmenttransferonsuchaccount(s)fallssolely totheClient.TheFirmwillmakerecommendations,butitwillbetheresponsibility oftheClienttoimplementthem.
TheprincipalownersofthefirmareMarkButlerandMikyoButler.
AsofDecember31,2023,thefirmmanagedapproximately$123M;thatis,approx.
$121.5Mmanagedonadiscretionarybasisandapprox.$1.5Monanon- discretionarybasis.