A. AJ Advisors, LLC (the “Firm”) was founded in April 2022. The Firm is registered as an investment
adviser with the Securities and Exchange Commission (“SEC”). The Firm is equally owned by
Andrew Quinn and John Stauffer.
B. As discussed below, the Firm offers to its clients (individuals, high net worth individuals, pension
and profit-sharing plans, trusts, estates and charitable organizations, etc.) investment advisory
services, and, to the extent specifically requested by a client, financial planning and related
consulting services.
INVESTMENT ADVISORY SERVICES
The client can engage the Firm to provide discretionary and/or non-discretionary investment
advisory services on a fee basis. The Firm’s annual investment advisory fee is based upon a
percentage (%) of the market value of the assets placed under the Firm’s management. Before
engaging the Firm to provide investment advisory services, clients are required to enter into an
Investment Advisory Agreement with the Firm setting forth the terms and conditions of the
engagement (including termination), describing the scope of the services to be provided, and the
fee that is due from the client.
The Firm’s annual investment advisory fee shall include investment advisory services, and, to the
extent specifically requested by the client, financial planning and consulting services. In the event
that the client requires extraordinary planning and/or consultation services (to be determined in the
sole discretion of the Firm), the Firm may determine to charge for such additional services pursuant
to a stand-alone Financial Planning Agreement (see below).
To commence the investment advisory process, an investment adviser representative will first
ascertain each client’s investment objectives and then allocate the client’s investment assets
consistent with the designated investment objectives. Once allocated, the Firm provides ongoing
monitoring and review of account performance and asset allocation as compared to client
investment objectives and may periodically execute account transactions based upon such reviews.
RETIREMENT PLAN SERVICES
Trustee Directed Plans: The Firm may be engaged to provide discretionary or non-discretionary
investment advisory services to workplace retirement plans, whereby the Firm manages retirement
plan assets consistent with the investment objective designated by the plan trustees. In such
engagements, the Firm will serve as an investment fiduciary as that term is defined under Section
3(21) of the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended. In
discretionary engagements, the Firm will also serve as an investment manager, as that term is
defined under Section 3(38) of ERISA.
Participant Directed Retirement Plans: The Firm may also provide investment advisory and
consulting services to participant directed retirement plans per the terms and conditions of a
Retirement Plan Consulting Agreement between the Firm and the plan. For such engagements, the
Firm assists sponsors of self-directed retirement plans with the selection and/or monitoring of
investment alternatives (generally open-end mutual funds) from which plan participants can choose
in self-directing the investments for their individual plan retirement accounts. In addition, to the
extent requested by the plan sponsor, the Firm may also provide participant education designed to
assist participants in identifying the appropriate investment strategy for their retirement plan
accounts.
FINANCIAL PLANNING AND CONSULTING SERVICES (STAND-ALONE)
To the extent specifically requested by a client, the Firm may determine to provide financial
planning and/or consulting services (including investment and non-investment related matters,
including estate planning, insurance planning, etc.) on a stand-alone separate fee basis. The Firm’s
planning and consulting fees are negotiable, but generally range from $500.00 to $5,000.00 on a
fixed fee basis, depending on the level and scope of the service(s) requested and the professional(s)
rendering the service(s) or $250.00 per hour on an hourly rate basis.
Prior to engaging the Firm to provide planning or consulting services, clients are generally required
to enter into a Financial Planning and Consulting Agreement with the Firm 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. If requested by the client, the Firm may recommend the services of other professionals
for implementation purposes, including certain of the Firm’s representatives in their individual
capacities as licensed insurance agents (see disclosure at Item 10.C). The client is under no
obligation to engage the services of any such recommended professional. The client retains absolute
discretion over all such implementation decisions and is free to accept or reject any
recommendation from the Firm. If the client engages any such recommended professional, and a
dispute arises thereafter relative to such engagement, the client agrees to seek recourse exclusively
from and against the engaged professional. It remains the client’s responsibility to promptly notify
the Firm if there is ever any change in his/her/its financial situation or investment objectives for the
purpose of reviewing/evaluating/revising the Firm’s previous recommendations and/or services.
MISCELLANEOUS
Non-Investment Consulting/Implementation Services. To the extent requested by the client, the
Firm may provide consulting services regarding matters such as estate planning, tax planning,
insurance, etc. Neither the Firm, nor any of its representatives, serves as an attorney or accountant,
and no portion of the Firm’s services should be construed as same. To the extent requested by a
client, the Firm may recommend the services of other professionals (e.g., attorneys, accountants,
insurance agents, etc.), including certain of the representatives of the
Firm in their separate licensed
capacities as discussed below. The client is under no obligation to engage the services of any such
recommended professional. The client retains absolute discretion over all such implementation
decisions and is free to accept or reject any recommendation from the Firm. If the client engages
any such recommended professional, and a dispute arises thereafter relative to such engagement,
the client agrees to seek recourse exclusively from and against the engaged professional. It remains
the client’s responsibility to promptly notify the Firm if there is ever any change in his/her/its
financial situation or investment objectives for the purpose of reviewing/evaluating/revising the
Firm’s previous recommendations and/or services.
Periods of Portfolio Inactivity. The Firm has a fiduciary duty to provide services consistent with
the client’s best interest. As part of its investment advisory services, the Firm will review client
portfolios on an ongoing basis to determine if any changes are necessary based upon various
factors, including but not limited to investment performance, fund manager tenure, style drift,
account additions/withdrawals, the client’s financial circumstances, and changes in the client’s
investment objectives. Based upon these and other factors, there may be extended periods of time
when the Firm determines that changes to a client’s portfolio are neither necessary nor prudent.
Notwithstanding, there can be no assurance that investment decisions made by the Firm will be
profitable or equal any specific performance level(s). Clients remain subject to the fees described
in Item 5 below during periods of account inactivity.
Cash Positions. The Firm considers cash and cash equivalents (e.g., money market funds, etc.) to
be a material component of a client’s investment allocation. As a result, at any specific point in
time, depending upon perceived or anticipated market conditions/events (there being no guarantee
that such anticipated market conditions/events will occur), the Firm may maintain cash and/or cash
equivalent positions for defensive, liquidity, or other purposes. Unless otherwise agreed, all such
cash and cash equivalent positions shall be included as part of assets under management for
purposes of calculating the Firm’s advisory fee. Clients are advised that, at any particular time, the
Firm’s asset-based advisory fee may exceed the yield earned on cash and cash equivalent positions.
Trade Error Policy. The Firm shall reimburse accounts for losses resulting from the Firm’s trade
errors, but shall not credit accounts for such errors resulting in market gains. The gains and losses
are reconciled within the Firm’s custodian firm account and the Firm retains the net losses and
distributes all net gains to a charitable organization.
Client Obligations. In performing its services, the Firm shall not be required to verify any
information received from the client or from the client’s other professionals, and is expressly
authorized to rely thereon. Moreover, each client is advised that it remains his/her/its responsibility
to promptly notify the Firm if there is ever any change in his/her/its financial situation or investment
objectives for the purpose of reviewing/evaluating/revising the Firm’s previous recommendations
and/or services.
Retirement Rollovers. A client or prospective client leaving an employer typically has four
options regarding an existing retirement plan (and may engage in a combination of these options):
(i) leave the money in the former employer’s plan, if permitted, (ii) roll over the assets to the new
employer’s plan, if one is available and rollovers are permitted, (iii) roll over to an Individual
Retirement Account (“IRA”), or (iv) cash out the account value (which could, depending upon the
client’s age, result in adverse tax consequences). If the Firm recommends that a client roll over
their retirement plan assets into an account to be managed by the Firm, such a recommendation
creates a conflict of interest if the Firm will earn a new (or increase its current) advisory fee as a
result of the rollover. No client is under any obligation to roll over retirement plan assets to an
account managed by the Firm.
ERISA / IRC Fiduciary Acknowledgment. When the Firm provides investment advice to a client
regarding the client’s retirement plan account or individual retirement account, it does so as a
fiduciary within the meaning of Title I of the Employee Retirement Income Security Act
(“ERISA”) and/or the Internal Revenue Code (“IRC”), as applicable, which are laws governing
retirement accounts. The way the Firm makes money creates some conflicts with client interests,
so the Firm operates under a special rule that requires it to act in the client’s best interest and not
put its interests ahead of the client’s.
Under this special rule's provisions, the Firm must:
• Meet a professional standard of care when making investment recommendations (give
prudent advice);
• Never put its financial interests ahead of the client’s when making recommendations (give
loyal advice);
• Avoid misleading statements about conflicts of interest, fees, and investments;
• Follow policies and procedures designed to ensure that the Firm gives advice that is in the
client’s best interest;
• Charge no more than is reasonable for the Firm’s services; and
• Give the client basic information about conflicts of interest.
C. The Firm shall provide investment advisory services specific to the needs of each client. Prior to
providing investment advisory services, an investment adviser representative will ascertain each
client’s investment objective(s). Thereafter, the Firm shall allocate and/or recommend that the
client allocate investment assets consistent with the designated investment objective(s). The client
may, at any time, impose reasonable restrictions, in writing, on the Firm’s services.
D. The Firm does not participate in a wrap fee program.
E. As of December 31, 2023, the Firm had approximately $246,990,353 in assets under management
on a discretionary basis.