THE FIRM
1 North Wealth Services, LLC, informally known as “1NW Services” or “1NorthWealth” (referred to also as “the
Company,” “the Adviser,” or “1NWS”) is an investment advisory firm. The principal owner of the Company is James E
Brennan, CFP, Managing Member and Director of Financial Planning.
1NWS furnishes advice in the areas of investments and financial planning. We provide clients with discretionary
investment advice, including asset allocation services, based on their stated objectives, needs, risk tolerance, and
desired management style. Financial planning services can include retirement planning, comprehensive financial
planning, education funding, and financial review. Occasionally, 1NWS gives advice on risk management, cash flow
management, and the acquisition, retention, and/or liquidation of non-security type assets. Because Risk management
is often part of the financial planning process, 1NWS offers insurance and fringe benefits consulting which may lead to
referrals to unaffiliated insurance providers (see disclosure below in Item 4: Miscellaneous and at Item 10).
DISCRETIONARY MANAGED ACCOUNT PROGRAM
In this program, 1NWS is given discretionary trading authority to actively manage your accounts. After a thorough,
fact-finding consultation where your current assets and liabilities are listed, and goals and objectives are defined, we
will advise you as to which types of investments are appropriate to accomplish your stated objectives. We carefully
consider the timeframe of your goals, your risk tolerance, the general outlook of the economy, and the current
investment markets. We offer customized portfolios, depending on your individual investment style profile as
determined by your responses in interviews and/or written questionnaires and your personal preference for
Environmental Stewardship, Social Responsibility, and/or Corporate Governance (ESG) investing. 1NWS provides
research and initial asset allocation services to establish a diversified portfolio based on client stated objectives.
Subsequently, we monitor the investments and rebalance client portfolios as necessary or when there is any change
in client objectives. Our service also includes quarterly reports provided electronically (unless elected to receive paper
reports) and updating meetings annually, or at client request.
For continuous active asset management, 1NWS is given discretionary trading authority by the client. This allows the
firm to buy or sell securities within your account(s) as well as specify the number of securities to invest, without first
obtaining your specific consent. This consent is limited only by the presence or absence of margin features and the
approved level of options trading on the account(s). You may, at any time, elect to place restrictions on purchase or
sale of certain securities. For instance, you may ask us to buy (or not to buy) certain securities, or you may ask us not
to sell certain holdings already owned that you wish to retain. We do not, as a rule, research or monitor those
investments that have not been specifically recommended by the Firm. You will be ultimately responsible for monitoring
client restricted investments, although we will assist you on request.
ASSETS UNDER MANAGEMENT
As of March 27, 2024 the Firm had under management:
$273,167,944.00 in Discretionary Managed Client Accounts
$ 0 in Non-Discretionary Client Accounts
$273,167,944.00 Total Assets Under Management
MISCELLANEOUS:
Limitations of Financial Planning and Non-Investment Consulting/Implementation Services: To the extent
specifically requested, 1NWS will generally provide financial planning and consulting services regarding non-
ADV BROCHURE PART 2A 5
investment related matters, such as tax and estate planning, insurance, etc. Such services may be provided inclusive
of 1NWS’ advisory fee set forth at Item 5 below for those clients that maintain at least $1million under management
(however, exceptions do occur based upon the complexity of the planning/consulting engagement, for which an
additional fee will be charged). Otherwise, such services will generally be provided for a separate/additional fee per
the terms and conditions of a separate stand-alone planning agreement. Please note: 1NWS does not serve as an
attorney, accountant, or insurance agent, and no portion of our services should be construed as same. Accordingly,
1NWS does not prepare estate planning or any other legal documents, tax returns, or sell insurance products. To the
extent requested by a client, we may recommend the services of other professionals for non-investment implementation
purposes (i.e., attorneys, accountants, insurance, etc.). You are under no obligation to engage the services of any
such recommended professional. You retain absolute discretion over all such implementation decisions and are free
to accept or reject any recommendation from 1NWS and/or its representatives. Please note: If you engage any
recommended unaffiliated professional, and a dispute arises thereafter relative to such engagement, you agree to seek
recourse exclusively from and against the engaged professional. ANY QUESTIONS: 1NWS’ Chief Compliance
Officer, James Brennan, CFP, remains available to address any questions that a client or prospective client
may have regarding the above and corresponding conflict of interest.
Please Note: Retirement Rollovers - Potential for Conflict of Interest: 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
1NWS recommends that a client roll over their retirement plan assets into an account to be managed by 1 North Wealth,
such a recommendation creates a conflict of interest if 1NWS will earn new (or increase its current) compensation as
a result of the rollover. If 1NWS provides a recommendation as to whether a client should engage in a rollover or not
(whether it is from an employer’s plan or an existing IRA), 1NWS is acting as a fiduciary 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. No client is under any obligation to roll over retirement plan assets to an account
managed by 1NWS, whether it is from an employer’s plan or an existing IRA. 1NWS’ Chief Compliance Officer,
James Brennan, remains available to address any questions that a client or prospective client may have
regarding the potential for conflict of interest presented by such rollover recommendation.
Custodian Charges – Additional Fees: As discussed below at Item 12, when requested to recommend a broker-
dealer/custodian for client accounts, 1NWS generally recommends
that Charles Schwab serves as the broker-
dealer/custodian for client investment management assets. Broker-dealers such as Schwab charge transaction fees
for effecting securities transactions. In addition to 1NWS’ investment advisory fee referenced in Item 5 below, you will
also incur transaction fees to purchase securities for your account (i.e., mutual funds and exchange traded funds,
individual equity, fixed income securities, etc.). ANY QUESTIONS: 1NWS’ Chief Compliance Officer, James
Brennan, CFP, remains available to address any questions that a client or prospective client may have
regarding the above. Please note – use of mutual and exchange traded funds: Most mutual funds and exchange
traded funds are available directly to the public; thus, a prospective client can obtain many of the funds that may be
utilized by 1NWS independent of engaging 1NWS as an investment advisor. However, if a prospective client
determines to do so, he/she will not receive 1NWS’ initial and ongoing investment advisory services. Please also note:
In addition to 1NWS’ investment advisory fee described in Item 5, and transaction and/or custodial fees discussed
below, you will also incur, relative to all mutual fund and exchange traded fund purchases, charges imposed at the fund
level (e.g., management fees and other fund expenses). ANY QUESTIONS: 1NWS’ Chief Compliance Officer,
ADV BROCHURE PART 2A 6
James Brennan, CFP, remains available to address any questions that a client or prospective client may have
regarding the above.
ERISA Plan and 401(k) Individual Engagements:
▪ Trustee-Directed Plans: 1NWS may be engaged to provide investment advisory services to ERISA
retirement plans, whereby 1NWS shall manage Plan assets consistent with the investment objective
designated by the Plan trustees. In such engagements, 1NWS will serve as an investment fiduciary as that
term is defined under the Employment Retirement Income Security Act of 1974 (“ERISA”). 1NWS will
generally provide services on an “assets under management” fee basis per the terms and conditions of an
Investment Advisory Agreement between the Plan and the Firm.
▪ Participant-Directed Retirement Plans: 1NWS may also provide investment advisory and consulting
services to participant-directed retirement plans per the terms and conditions of a Retirement Plan Services
Agreement between 1NWS and the Plan. For such engagements, 1NWS shall assist the Plan sponsor with
the selection of an investment platform from which Plan participants shall make their respective investment
choices (which may include investment strategies devised and managed by 1NWS), and, to the extent
engaged to do so, may also provide corresponding education to assist the participants with their decision-
making process.
▪ Client Retirement Plan Assets: If requested to do so, 1NWS shall provide investment advisory services
relative to the client’s 401(k) plan assets. In such event, 1NWS shall recommend that the client allocate the
retirement account assets among the investment options available on the 401(k) platforms. 1NWS shall be
limited to making recommendations regarding the allocation of the assets among the investment alternatives
available through the Plan. 1NWS will not receive any communications from the Plan sponsor or custodian,
and it shall remain the client’s exclusive obligation to notify 1NWS of any changes in investment alternatives,
restrictions, etc. pertaining to the retirement account.
Please Note: Cash Positions. 1NWS continues to treat cash as an asset class. As such, unless determined to the
contrary by 1NWS, all cash positions (money markets, etc.) shall continue to be included as part of assets under
management for purposes of calculating 1NWS’ advisory fee. 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), 1NWS may maintain cash positions for defensive purposes. In addition, while assets are maintained in cash,
such amounts could miss market advances. Depending upon current yields, at any point in time, 1NWS’ advisory fee
could exceed the interest paid by the client’s money market fund. ANY QUESTIONS: 1NWS’ Chief Compliance
Officer, James Brennan, remains available to address any questions that a client or prospective may have
regarding the above fee billing practice.
Portfolio Activity: 1NWS has a fiduciary duty to provide services consistent with the client’s best interest. As part of
its investment advisory services, 1NWS 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, and/or a change in your investment objective. Based upon these factors,
there may be extended periods of time when 1NWS determines that changes to your portfolio are neither necessary
nor prudent. Of course, as indicated below, there can be no assurance that investment decisions made by 1NWS will
be profitable or equal any specific performance level(s).
Client Obligations: In performing our services, 1NWS shall not be required to verify any information received from you
or from your other professionals and is expressly authorized to rely thereon. Moreover, it remains each client’s
ADV BROCHURE PART 2A 7
responsibility to promptly notify 1NWS if there is ever any change in his/her/its financial situation or investment
objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services.
Investment Risk: Different types of investment involve varying degrees of risk, and it should not be assumed that
future performance of any specific investment or investment strategy (including the investments and/or investment
strategies recommended or undertaken by 1NWS) will be profitable or equal any specific performance level(s).
Please Note: Socially Responsible Investing Limitations. Socially Responsible Investing involves the
incorporation of Environmental, Social and Governance considerations into the investment due diligence process
(“ESG”). There are potential limitations associated with allocating a portion of an investment portfolio in ESG securities
(i.e., securities that have a mandate to avoid, when possible, investments in such products as alcohol, tobacco,
firearms, oil drilling, gambling, etc.). The number of these securities may be limited when compared to those that do
not maintain such a mandate. ESG securities could underperform broad market indices. Investors must accept these
limitations, including potential for underperformance. Correspondingly, the number of ESG mutual funds and
exchange-traded funds are few when compared to those that do not maintain such a mandate. As with any type of
investment (including any investment and/or investment strategies recommended and/or undertaken by 1NWS), there
can be no assurance that investment in ESG securities or funds will be profitable or prove successful.