Firm Information
The firm was organized as an LLC in 2016 and registered as an investment advisor with the SEC in 2021 but
the principal owners have been working together since 2013. TrueWealth Financial Partners, LLC takes a
family first approach that is rooted in transparency and trust to provide advisory services in the best interests of
Clients. This disclosure brochure provides information regarding the qualifications, business practices and
details of the advisory services and the applicable fees.
Client Bill of Rights
• Tailored Guidance based on Client’s unique goals, needs, risk tolerance and values
• Transparency for clear and concise answers about portfolio construction and costs.
• Confidentiality to protect your personal information.
• Communication with a yearly planning session, optional quarterly check-ins and regular availability.
Principal Owners
Glenn M. Rossman (CRD No. 5936809)
Financial Planner & Co-owner
Mr. Rossman prides himself on empowering clients to take deliberate and informed
action with peace of mind. His practice is built upon creating lasting client
relationships as well as providing an educational approach that takes the stress out of
financial planning. Glenn is a Washington native and alumni of the University of
Washington where he studied Business and Behavioral Finance.
Patrick B. Severson (CRD No. 6108246)
Financial Planner, Chief Compliance Officer & Co-owner
Mr. Severson prides himself on rolling up his sleeves and working hard to advocate
for his clients. He believes that no detail is too small, and his greatest honor
is managing the burden of financial stress from his clients so they can focus their time
on the fun things in life. Patrick is a Graduate of The University of North Dakota
where he studied Business with a focus in Entrepreneurship.
Advisory Services Offered
TrueWealth Financial Partners, LLC provides financial planning and fee only investment advisory services
primarily to individual Clients and high-net worth individuals with a focus on retirement. Services are also
available to businesses and financial institutions.
Accounts are managed based on the individual goals, objectives, time horizon, and risk tolerance of each Client.
More specifically the primary services offered by the firm include but are not limited to the following.
Retirement Planning
• Goal Setting
• Investment Advice
• Pension Strategies
• Social Security Optimization
• Investment Tax Planning
• Inflation Estimates
• Healthcare Costs
• Longevity Analysis
Portfolio Construction
• Tailored Investment Strategies
• Cost Sensitivity
• Non-Proprietary Products
• Goal & Value Alignment
Risk Management
• Income Replacement
• Business Succession
• Estate Planning
• Disability
• Insurance Planning
• Long Term Care
Assets are managed on a discretionary or non-discretionary basis, as selected on the written asset management
agreement.
• Discretionary Authority – Client grants Advisor ongoing and continuous discretionary authority to
execute its investment recommendations without the Client's prior approval of each specific
transaction. Under this authority, Client shall allow Advisor to purchase and sell securities and
instruments in this Account(s), arrange for delivery and payment in connection with the foregoing,
select and retain sub-advisors, and act on behalf of the Client in all matters necessary or incidental.
• Non-Discretionary Authority – Advisor will not execute any investment recommendations without
Client’s prior approval (verbal or written).
Investment strategies and recommendations are tailored to the individual needs of each Client but generally
consist of an asset allocation consistent with:
• Income with Capital Preservation. Designed as a longer-term accumulation account, this investment
objective is considered generally the most conservative. Emphasis is placed on generation of current
income with minimal risk of capital loss. Lowering the risk generally means lowering the potential
income and overall return.
• Income with Moderate Growth. This investment objective emphasizes generation of current income
with a secondary focus on moderate capital growth.
• Growth with Income. This investment objective emphasizes modest capital growth with some focus on
generation of current income.
• Growth. This investment objective emphasizes achieving high long-term growth and capital
appreciation.
• Aggressive Growth. This investment objective emphasizes aggressive growth and maximum capital
appreciation, with no focus on generation of current income. This objective has an extremely high level
of risk and is for investors with a longer timer horizon.
At no time will TrueWealth Financial Partners, LLC accept or maintain custody of a Client’s funds or
securities. All Client assets will be managed within their designated brokerage account or pension account,
pursuant to the Client investment advisory agreement on a discretionary or non-discretionary basis.
• Investment advice is not limited to certain investment types.
• A minimum total investment amount of $500,000 is generally required.
• Advisory services are tailored to the individual need of each Client.
LPL Financial Sponsored Platforms
Strategic Wealth Management (SWM)
Strategic Wealth Management is the name of the custodial account offered through LPL to support investment
advisory services provided by TrueWealth Financial Partners, LLC. Within a SWM account, Investment
Advisor Representatives provide advice on the purchase and sale of various types of investments, such as
mutual funds, exchange-traded funds (“ETFs”), and equities. The advice is tailored to the individual needs of
the Client based on the investment objective chosen by the Client to help assist Clients in attempting to meet
their financial goals. Accounts are reviewed on a regular basis and rebalanced as necessary according to each
Client’s investment profile. More specific account information and acknowledgements are further detailed in
the account opening documents. Investment Advisor Representatives can offer SWM I or SWM II. The
accounts offer the same investment choices and are managed in the same manner, but the fee structure is
different. For SWM I, Clients are charged transaction fees in addition to the advisory fee whereas for SWM II,
the transactions fees are sponsored by TrueWealth Financial Partners, LLC.
TrueWealth Financial Partners, LLC Wrap Fee Program
TrueWealth Financial Partners, LLC offers SWM II as a wrap fee program where the firm acts as the sponsor
and portfolio manager. A wrap fee program is an advisory account with a single fee that covers a bundle of
services; such as, portfolio management, advice, and investment research as well as trade execution, custody,
and reporting fee. Please see Appendix 1 –Wrap Fee Program Brochure, which is included as a supplement to
this Disclosure Brochure. The advisory fee for SWM II accounts
may be higher than SWM I to account for the
transaction fees. Depending on the anticipated level of trading, Investment Advisor Representatives of
TrueWealth Financial Partners, LLC will work with each Client to determine the most cost-effective fee
structure.
LPL Sponsored Wrap Fee Programs
TrueWealth Financial Partners, LLC also offers a wrap fee program where LPL serves as the sponsor and
portfolio manager. While LPL serves as the wrap fee sponsor and portfolio manager, TrueWealth Financial
Partners, LLC manages the allocation of funds between the different portfolios and available fund selections.
Model Wealth Portfolios Program (MWP)
MWP offers Clients a professionally managed mutual fund asset allocation program. TrueWealth
Financial Partners, LLC will obtain the necessary financial data from the Client, assist the Client in
determining the suitability of the MWP program and assist the Client in setting an appropriate
investment objective. TrueWealth Financial Partners, LLC will initiate the steps necessary to open an
MWP account and have discretion to select a model portfolio designed by LPL’s Research Department
consistent with the Client’s stated investment objective. LPL’s Research Department, a third-party
portfolio strategist and/or Advisor, through its Investment Advisor Representative, may act as a portfolio
strategist responsible for selecting the mutual funds or ETFs within a model portfolio and for making
changes to the mutual funds or ETFs selected.
The Client will authorize LPL to act on a discretionary basis to purchase and sell mutual funds and ETFs
and to liquidate previously purchased securities. The Client will also authorize LPL to effect
rebalancing for MWP accounts. MWP requires a minimum asset value for a program account to be
managed. The minimums vary depending on the portfolio(s) selected and the account’s allocation
amongst portfolios.
Manager Access Select Program
Manager Access Select provides clients access to the investment advisory services of professional
portfolio management firms for the individual management of client accounts. Advisor will assist client
in identifying a third-party portfolio manager (Portfolio Manager) from a list of Portfolio Managers
made available by LPL. The Portfolio Manager manages client’s assets on a discretionary basis.
Advisor will provide initial and ongoing assistance regarding the Portfolio Manager selection process.
LPL serves as program sponsor, investment advisor and broker-dealer for the LPL advisory programs.
TrueWealth Financial Partners, LLC and LPL may share in the account fee and other fees associated
with program accounts. TrueWealth Financial Partners, LLC is responsible to:
• obtain the necessary financial data from each client;
• select the proper advisory program;
• determine the investment allocation; and,
• provide tailored investment advice based on a client’s investment objectives.
Accounts are reviewed on a regular basis and rebalanced as necessary according to each client’s
investment profile. Depending on the anticipated level of trading, positions held and account size,
investment advisor representatives of TrueWealth Financial Partners, LLC will work with each client to
determine the most cost-effective fee structure.
Retirement Plan Rollovers
Effective December 20, 2021 (or such later date as the US Department of Labor ("DOL") Field
Assistance Bulletin 2018-02 ceases to be in effect), for purposes of complying with the DOL's
Prohibited Transaction Exemption 2020-02 ("PTE 2020-02") where applicable, we are providing the
following acknowledgment to you.
When we provide investment advice to you regarding your 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 your 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.
Client Account Management
Prior to engaging TrueWealth Financial Partners, LLC to provide investment advisory services, each Client is
required to enter into an investment advisory agreement that defines the terms, conditions, authority, and
responsibilities.
Assets Under Management
Assets under management as of December 31, 2022:
Assets under Management
Discretionary $137,006,383
Non-Discretionary $0.00
Total $137,006,383
Financial Planning Services
TrueWealth Financial Partners, LLC, through its Investment Advisor Representatives, generally provides
financial planning as part of a comprehensive asset management engagement. However, financial planning is
available separately for a separate fee. The type of planning can vary greatly depending on the scope and
complexity of an individual’s financial situation. Examples of the type of planning available include but are
not limited to the following:
• Retirement – Planning an investment strategy to provide inflation-adjusted income for life.
• College / Education – Planning to pay the future college/education expenses of a child or
grandchild.
• Insurance Needs – Planning for the financial needs of survivors to satisfy such financial obligations
as housing, dependent child-care and spousal arrangements as well as education.
• Estate Planning – Planning that focuses on the most efficient and tax-friendly option to pass on an
estate to a spouse, other family members or a charity.
• Investment Planning – Planning an investment strategy consistent with objectives, time horizons
and risk tolerances.
Prior to engaging the firm to provide stand-alone planning or consulting services, Clients are required to enter
into an Agreement setting forth the terms and conditions of the engagement (including termination), describing
the scope of the services to be provided, and the portion of the fee that is due from the Client prior to the firm
commencing services.
Hourly Consulting Services
TrueWealth Financial Partners, LLC, through its Investment Adviser Representatives, can provide hourly
consulting services instead of a comprehensive financial planning when a narrower scope of services is
appropriate. Hourly consulting considers information collected from the client such as financial status,
investment objectives and tax status, among other data. The Investment Adviser Representatives may or may
not deliver a written analysis or report as part of the services. The engagement terminates upon final
consultation with the client.