Item 5 – Additional Compensation ...................................................................................................... 29 Item 6 – Supervision ........................................................................................................................... 29 Steve Green, Member, Chief Investment Officer, and Financial Advisor ............................................... 30 Item 1 – Cover Page ........................................................................................................................... 30 Item 2 – Educational Background and Business Experience ............................................................. 30 Item 3 – Disciplinary Information ......................................................................................................... 30 Item 5 – Additional Compensation ...................................................................................................... 30 Item 6 – Supervision ........................................................................................................................... 30 Scott Lefebre, Member and Financial Advisor ........................................................................................ 31 Item 1 – Cover Page ........................................................................................................................... 31 Item 2 – Educational Background and Business Experience ............................................................. 31 Item 3 – Disciplinary Information ......................................................................................................... 32 Item 5 – Additional Compensation ...................................................................................................... 32 Item 6 – Supervision ........................................................................................................................... 32 Zach Erskine, Member and Financial Advisor ........................................................................................ 33 Item 1 – Cover Page ........................................................................................................................... 33 Item 2 – Educational Background and Business Experience ............................................................. 33 Item 3 – Disciplinary Information ......................................................................................................... 34 Item 5 – Additional Compensation ...................................................................................................... 34 Item 6 – Supervision ........................................................................................................................... 34 Aaron Hulbert, Member and Financial Advisor ....................................................................................... 35 Item 1 – Cover Page ........................................................................................................................... 35 Item 2 – Educational Background and Business Experience ............................................................. 35 Item 3 – Disciplinary Information ......................................................................................................... 36 Item 5 – Additional Compensation ...................................................................................................... 36 Item 6 – Supervision ........................................................................................................................... 36 Kathy Raabe, Member and Financial Advisor ......................................................................................... 37 Item 1 – Cover Page ........................................................................................................................... 37 Item 2 – Educational Background and Business Experience ............................................................. 37 Item 3 – Disciplinary Information ......................................................................................................... 38 Item 5 – Additional Compensation ...................................................................................................... 38 Item 6 – Supervision ........................................................................................................................... 38 Matthew Darcy, Member and Portfolio Manager .................................................................................... 39 Item 1 – Cover Page ........................................................................................................................... 39 Item 2 – Educational Background and Business Experience ............................................................. 39 Item 3 – Disciplinary Information ......................................................................................................... 39 Item 5 – Additional Compensation ...................................................................................................... 40 Item 6 – Supervision ........................................................................................................................... 40 Seneca Financial Advisors, LLC is an investment advisor registered with the United States Securities and Exchange Commission (“SEC”) and is a Limited Liability Company formed under the laws of the State of New York.
• We have been registered as an investment advisor since February 2010. Prior to forming our own investment advisory firm, the partners of Seneca Financial Advisors provided fee-based, investment advisory services through Nixon Peabody Financial Advisors. o Joe Votava was a Financial Advisor with Nixon Peabody Financial Advisors from 11/2000 until 01/2010. o Steve Green was a Financial Advisor with Nixon Peabody Financial Advisors from 11/2000 until 01/2010. o Scott Lefebre was a Financial Advisor with Nixon Peabody Financial Advisors from 01/2008 until 01/2010. More information about our Financial Advisors’ business and education background can be found in the Information Required by Part 2B of Form ADV: Brochure Supplement section of this Disclosure Brochure.
• The Firm’s majority owner and majority control person is Joe Votava, Member, Chief Executive Officer, Chief Compliance Officer, and Financial Advisor. Steve Green, Member, Chief Investment Officer, and Financial Advisor, and Scott Lefebre, Member and Financial Advisor, are minority owners of the Firm. General Description of Primary Advisory Services The following are brief descriptions of Seneca Financial Advisors’ primary services. A detailed description of Seneca Financial Advisors services is provided in Item 5 – Fees and Compensation so that clients and prospective clients can review the services and description of fees in a side-by-side manner. Financial Planning Services - Seneca Financial Advisors provides advisory services in the form of financial planning services. Financial planning services do not involve the active management of client accounts, but instead focuses on a client’s

overall financial situation. Financial planning can be described as helping individuals determine and set their long-term financial goals, through investments, tax planning, asset allocation, risk management, retirement planning, and other areas. The role of a financial planner is to find ways to help the client understand his/her overall financial situation and help the client set financial objectives. Investment Management Services – Seneca Financial Advisors provides advisory services in the form of Investment Management Services. Investment Management Services involve providing clients with continuous and on-going supervision over client accounts. This means we will continuously monitor a client’s account and make trades in client accounts when necessary. Investment Consulting Services – We also provide investment consulting services in the form of oral advice and written recommendations. These services are somewhat similar to Investment Management Services, except for the fact that we do not implement any recommendations. Clients signing up for this service must understand that the Firm does not provide on-going reviews of accounts through this service and information about such accounts is limited to information provided exclusively by the client. The Client always has the sole discretion to accept or reject the Firm’s advice. The client must implement all trades in such accounts because the Firm will have no access to the account. Limits Advice to Certain Types of Investments Investment advice typically involves both generic and specific asset allocation recommendations. Investment advice may be offered on any investments held by a client at the start of the advisory relationship. Specifically, the Firm provides investment advice on the following types of investments.
• Exchange-listed securities (i.e., stocks)
• Securities traded over-the-counter (i.e., stocks)
• Foreign Issues
• Warrants
• Corporate debt securities (other than commercial paper)
• Commercial paper
• Certificates of deposit
• Municipal securities
• Variable life insurance
• Variable annuities
• Mutual fund shares
• United States government securities
• Options contracts on securities and commodities
• Futures contracts on tangibles and intangibles
• Interests in partnerships investing in real estate, oil and gas interests Seneca Financial Advisors performs background research and may occasionally recommend or provide advice on private real estate investments, tax credit partnerships (including low income housing and/or oil and gas), conservation tax credits, REITs (real estate investment trusts), hedge funds, and 529 college savings plans. In addition, Seneca Financial Advisors researches and makes occasional recommendations for investments in private equity, venture capital, timber and hedge funds, real estate partnerships and other private placement investments. Private offering (i.e., unregistered) investments are often illiquid, which means that the investments can be difficult to trade and consequently limits a client’s ability to dispose of such investments in a timely manner and at an advantageous price. Additionally, such investments may not have been registered pursuant to the Securities Act of 1933, and therefore the client will need to complete a subscription agreement showing the client is an “accredited” investor (as defined by applicable law and rules and regulations) and acknowledge that he or she has read and understands the private placement memorandum and is aware of the various risk factors associated with such an investment. When providing Investment Management Services, the Firm will typically construct each client’s portfolio using mutual funds, Exchange-Traded Funds and separate account managers to build a diversified portfolio. It is not Seneca Financial Advisors’ typical investment strategy to attempt to time the market, however, we do use a tactical asset allocation strategy whereby we will overweight or underweight certain asset classes based on our expectations of market behavior, extreme undervaluation (or overvaluation), and stages of the risk cycle. Further, we may modify our investment strategy to accommodate special situations such as low basis stock, stock options, legacy holdings, inheritances, closely held businesses, collectibles, or special tax situations. (Please refer to Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss for more information.) Tailor Advisory Services to Individual Needs of Clients Seneca Financial Advisors’ services are always provided based on the individual needs of each client. This means, for example, that you are given the ability to impose restrictions on the accounts we manage for you, including specific investment selections and sectors. We work with each client on a one-on-one basis through interviews and educational materials to determine the client’s investment objectives and suitability information. When managing client accounts through the Firm’s Investment Management Services program, we may manage accounts in accordance with one or more investment models that are developed and monitored by our investment team. When client accounts are managed using models, investment selections are based on the underlying model. However, the determination to use a particular model or models is always based on each client’s individual investment goals, objectives and mandates. Retirement Plan Rollover Recommendations When Seneca Financial Advisors provides investment advice about your retirement plan account or individual retirement account (“IRA”) including whether to maintain investments and/or proceeds in the retirement plan account, roll over such investment/proceeds from the retirement plan account to an IRA or make a distribution from the retirement plan account, we acknowledge that Seneca Financial Advisors is 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 Seneca Financial Advisors makes money creates conflicts with your interests, so Seneca Financial Advisors operates under a special rule that requires Seneca Financial Advisors to act in your best interest and not put our interest ahead of you. Under this special rule’s provisions, Seneca Financial Advisors must as a fiduciary to a retirement plan account or IRA under ERISA/IRC:
• Meet a professional standard of care when making investment recommendations (e.g., give prudent advice);
• Never put the financial interests of Seneca Financial Advisors ahead of your financial interests when making recommendations (e.g., give loyal advice);
• Avoid misleading statements about conflicts of interest, fees, and investments;
• Follow policies and procedures designed to ensure that Seneca Financial Advisors gives advice that is in your best interest;
• Charge no more than is reasonable for the services of Seneca Financial Advisors; and
• Give you basic information about conflicts of interest. To the extent we recommend you roll over your account from a current retirement plan account to an individual retirement account managed by Seneca Financial Advisors, please know that Seneca Financial Advisors and our investment adviser representatives may have a conflict of interest. We can earn increased investment advisory fees by recommending that you roll over your account at the retirement plan to an IRA managed by Seneca Financial Advisors. We may earn fewer investment advisory fees if you do not roll over the funds in the retirement plan to an IRA managed by Seneca Financial Advisors. Thus, our investment adviser representatives may have an economic incentive to recommend a rollover of funds from a retirement plan to an IRA which is a conflict of interest because our recommendation that you open an IRA account to be managed by our firm can be based on our economic incentive and not based exclusively on whether or not moving the IRA to our management program is in your overall best interest. We have taken steps to manage this conflict of interest. We have adopted an impartial conduct standard whereby our investment adviser representatives will (i) provide investment advice to a retirement plan participant regarding a rollover of funds from the retirement plan in accordance with the fiduciary status described below, (ii) not recommend investments which result in Seneca Financial Advisors receiving unreasonable compensation related to the rollover of funds from the retirement plan to an IRA, and (iii) fully disclose compensation received by Seneca Financial Advisors and our supervised persons and any material conflicts of interest related to recommending the rollover of funds from the retirement plan to an IRA and refrain from making any materially misleading statements regarding such rollover. When providing advice to you regarding a retirement plan account or IRA, our investment advisor representatives will act with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims, based on the investment objectives, risk, tolerance, financial circumstances, and a client’s needs, without regard to the financial or other interests of Seneca Financial Advisors or our affiliated personnel. Client Assets Managed by Seneca Financial Advisors The amount of client assets managed by Seneca Financial Advisors totaled $520,499,794 as of December 31, 2022. $461,661,023 is managed on a discretionary basis and $58,838,771 is managed on a non-discretionary basis.