Description of Advisory Firm
Quarry Hill Advisors is registered as an Investment Adviser with the Securities and Exchange Commission. We
were founded in March 2017. Kyle Moore and Bjorn Amundson are equal owners of QHA. QHA reports
approximately $233.5 million in discretionary assets under management and approximately $22.1 million in
non-discretionary assets under management as of December 31, 2023.
Types of Advisory Services
Investment Management Services (QHA manages accounts)
We are in the business of managing individually tailored investment portfolios. Our firm provides continuous
advice to a client regarding the investment of client funds based on the individual needs of the client. Through
personal discussions in which goals and objectives based on a client's particular circumstances are established,
we develop a client's personal investment policy or an investment plan with an asset allocation target and create
and manage a portfolio based on that policy and allocation target. During our data-gathering process, we
determine the client’s individual objectives, time horizons, risk tolerance, and liquidity needs. We may also
review and discuss a client’s prior investment history, as well as family composition and background.
Account supervision is guided by the stated objectives of the client (e.g., maximum capital appreciation, growth,
income, or growth and income), as well as tax considerations. Clients may impose reasonable restrictions on
investing in certain securities, types of securities, or industry sectors. Fees pertaining to this service are outlined
in Item 5 of this brochure.
QHA Schwab Intelligent Portfolios™ Program QHA may also utilize for certain lower asset balance clients the
Institutional Intelligent Portfolios™ Program platform sponsored by Schwab Wealth Investment Advisory, Inc.
(the “Program” and “SWIA,” respectively). SWIA is an unaffiliated SEC registered third party service provider
which offers an electronic algorithms platform which ensures client portfolios are aligned with the client’s
investment objective and risk tolerance via model portfolios. Under this automated investment advisory
program, trading and rebalancing is determined via an algorithm based on model portfolios created by QHA,
with cash flows and dividends used to keep the portfolio in balance. Also referred to as “robo-advisory services”,
SWIA provides QHA with the technology platform to automate the management of portfolios of ETFs and mutual
fund securities, provides sub-advisory services and acts in a discretionary capacity to the client’s account. Any
clients that use the Program will receive the SWIA Program Disclosure Brochure (“Program Disclosure Brochure”)
from SWIA which includes a more detailed description and additional information.
QHA may also participate in the Schwab Advisor Services (SAS) services program offered to independent
investment advisors by Charles Schwab & Company, Inc., ("Schwab") Schwab and is an unaffiliated SEC-registered
broker dealers and FINRA/SIPC member broker dealers. Each offer to independent advisors, services which
include custody of securities, trade execution, clearance and settlement transactions. For clients participating in
the Schwab Intelligent Portfolios™ Program, clients will utilize the brokerage services of Charles Schwab & Co.,
Inc. (“CS & Co”) offered to independent investment advisers. CS&Co is also FINRA member and member of SIPC
Retirement Plan Services
Our firm provides retirement plan services to employer plan sponsors on an ongoing basis. Generally, such
services consist of assisting employer plan sponsors in establishing, monitoring and reviewing their company's
participant-directed retirement plan. As the needs of the plan sponsor dictate, areas of advising could include:
investment options, plan structure, and participant education.
In providing employee benefit plan services, our firm does not provide any advisory services with respect to the
following types of assets: employer securities, real estate (excluding real estate funds and publicly traded REITS),
participant loans, non-publicly traded securities or assets, other illiquid investments, or brokerage window
programs (collectively, “Excluded Assets”).
Financial Planning
We provide financial planning services on topics such as retirement planning, risk management, college savings,
cash flow, debt management, work benefits, and estate and incapacity planning.
Financial planning is an evaluation of a client’s current and future financial state by using currently known
variables to predict future cash flows, asset values and withdrawal plans. The key defining aspect of financial
planning is that through the financial planning process, all questions, information and analysis will be considered
as they affect and are affected by the entire financial and life situation of the client. Clients purchasing this
service will receive a written or an electronic report, providing the client with a detailed financial plan designed
to achieve his or her stated financial goals and objectives.
In general, the financial plan will address any or all of the following areas of concern. The client and advisor will
work together to select the specific areas to cover. These areas may include, but are not limited to, the following:
● Business Planning: We provide consulting services for clients who currently operate their own business,
are considering starting a business, or are planning for an exit from their current business. Under this
type of engagement, we work with you to assess your current situation, identify your objectives, and
develop a plan aimed at achieving your goals.
● Cash Flow and Debt Management: We will conduct a review of your income and expenses to determine
your current surplus or deficit along with advice on prioritizing how any surplus should be used or how
to reduce expenses if they exceed your income. Advice may also be provided on which debts to pay off
first based on factors such as the interest rate of the debt and any income tax ramifications. We may also
recommend what we believe to be an appropriate cash reserve that should be considered for
emergencies and other financial goals, along with a review of accounts (such as money market funds) for
such reserves, plus strategies to save desired amounts.
● College Savings: Includes projecting the amount that will be needed to achieve college or other
post-secondary education funding goals, along with advice on ways for you to save the desired amount.
Recommendations as to savings strategies are included, and, if needed, we will review your financial
picture as it relates to eligibility for financial aid or the best way to contribute to grandchildren (if
appropriate).
● Employee Benefits Optimization: We will provide review and analysis as to whether you, as an
employee, are taking the maximum advantage possible of your employee benefits. If you are a business
owner, we will consider and/or recommend the various benefit programs that can be structured to meet
both business and personal retirement goals.
● Estate Planning: This usually includes an analysis of your exposure to estate taxes and your current
estate plan, which may include whether you have a will, powers of attorney, trusts and other related
documents. Our advice also typically includes ways for you to minimize or avoid future estate taxes by
implementing appropriate estate planning strategies such as the use of applicable trusts.
We always recommend that you consult with a qualified attorney when you initiate, update, or complete
estate planning activities. We may provide you with contact information for attorneys who specialize in
estate planning when you
wish to hire an attorney for such purposes. From time-to-time, we will
participate in meetings or phone calls between you and your attorney with your approval or request.
● Financial Goals: We will help clients identify financial goals and develop a plan to reach them. We will
identify what you plan to accomplish, what resources you will need to make it happen, how much time
you will need to reach the goal, and how much you should budget for your goal.
● Insurance: Review of existing policies to ensure proper coverage for life, health, disability, long-term
care, liability, home and automobile.
● Investment Analysis: This may involve developing an asset allocation strategy to meet clients’ financial
goals and risk tolerance, providing information on investment vehicles and strategies, reviewing
employee stock options, as well as assisting you in establishing your own investment account at a
selected broker/dealer or custodian. The strategies and types of investments we may recommend are
further discussed in Item 8 of this brochure.
● Retirement Planning: Our retirement planning services typically include projections of your likelihood of
achieving your financial goals, typically focusing on financial independence as the primary objective. For
situations where projections show less than the desired results, we may make recommendations,
including those that may impact the original projections by adjusting certain variables (e.g., working
longer, saving more, spending less, taking more risk with investments).
If you are near retirement or already retired, advice may be given on appropriate distribution strategies
to minimize the likelihood of running out of money or having to adversely alter spending during your
retirement years.
● Risk Management: A risk management review includes an analysis of your exposure to major risks that
could have a significant adverse impact on your financial picture, such as premature death, disability,
property and casualty losses, or the need for long-term care planning. Advice may be provided on ways
to minimize such risks and about weighing the costs of purchasing insurance versus the benefits of doing
so and, likewise, the potential cost of not purchasing insurance (“self-insuring”).
● Tax Planning Strategies: Advice may include ways to minimize current and future income taxes as a part
of your overall financial planning picture. For example, we may make recommendations on which type of
account(s) or specific investments should be owned based in part on their “tax efficiency,” with
consideration that there is always a possibility of future changes to federal, state or local tax laws and
rates that may impact your situation.
We recommend that you consult with a qualified tax professional before initiating any tax planning
strategy, and we may provide you with contact information for accountants or attorneys who specialize
in this area if you wish to hire someone for such purposes. We will participate in meetings or phone calls
between you and your tax professional with your approval.
Comprehensive Financial Planning
This service involves working one-on-one with a planner over an extended period of time. By paying a
monthly/quarterly retainer, clients get continuous access to a planner who will work with them to design their
plan. The planner will monitor the plan, recommend any changes and ensure the plan is up to date.
Upon desiring a comprehensive plan, a client will be taken through establishing their goals and values around
money. They will be required to provide information to help complete the following areas of analysis: net worth,
cash flow, insurance, credit scores/reports, employee benefit, retirement planning, insurance, investments,
college planning and estate planning. Once the client’s information is reviewed, their plan will be built and
analyzed, and then the findings, analysis and potential changes to their current situation will be reviewed with
the client. Clients subscribing to this service will receive a written or an electronic report, providing the client
with a detailed financial plan designed to achieve his or her stated financial goals and objectives. If a follow up
meeting is required, we will meet at the client's convenience. The plan and the client’s financial situation and
goals will be monitored throughout the year and follow-up phone calls and emails will be made to the client to
confirm that any agreed upon action steps have been carried out. On an annual basis there will be a full review
of this plan to ensure its accuracy and ongoing appropriateness. Any needed updates will be implemented at
that time.
Client Tailored Services and Client Imposed Restrictions
We offer the same suite of services to all of our clients. However, specific client financial plans and their
implementation are dependent upon the client Investment Policy Statement which outlines each client’s current
situation (income, tax levels, and risk tolerance levels) and is used to construct a client specific plan to aid in the
selection of a portfolio that matches restrictions, needs, and targets.
Retirement Account Advice
When QHA provides investment advice to Clients regarding Client’s retirement plan account or individual
retirement account, we are fiduciaries within the meaning of Title I of the Employee Retirement Income Security
Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. The way we
make money creates some conflicts with Client’s interests, so we operate under a special rule that requires us to
act in your best interest and not put our interest ahead of yours.
Under this special rule’s provisions, we must:
● Meet a professional standard of care when making investment recommendations (give prudent advice);
● Never put our financial interests ahead of yours when making recommendations (give loyal advice);
● Avoid misleading statements about conflicts of interest, fees, and investments;
● Follow policies and procedures designed to ensure that we give advice that is in your best interest;
● Charge no more than is reasonable for our services; and
● Give you basic information about conflicts of interest.
Retirement Plan Rollovers
A client leaving an employer typically has four options (and may engage in a combination of these options): 1)
leave the money in the former employer’s plan, if permitted, 2) roll over the assets to his/her new employer’s
plan, if one is available and rollovers are permitted, 3) rollover to an Individual Retirement Account (IRA), or 4)
cash out the account value (which could, depending upon the client’s age, result in adverse tax consequences).
QHA may recommend a client roll over plan assets to an IRA managed by QHA. As a result, QHA may earn an asset-
based fee; however, a recommendation that a client or prospective client leave their plan assets with a previous
employer may or may not result in compensation to QHA. QHA has an economic incentive to encourage an investor
to roll plan assets into an IRA that QHA will manage. There are various factors that QHA may consider before
recommending a rollover, including but not limited to: 1) the investment options available in the plan versus the
investment options available in an IRA, 2) fees and expenses in the plan versus the fees and expenses in an IRA, 3)
the services and responsiveness of the plan’s investment professionals versus those of QHA, 4) required minimum
distributions and age considerations, and 5) employer stock tax consequences, if any. No client is under any
obligation to roll over plan assets to an IRA managed by QHA.
Wrap Fee Programs
We do not participate in wrap fee programs.