Ellis Investment Partners, LLC ("EIP" or "Ellis") is an SEC registered investment adviser located in the State of Pennsylvania. The firm was founded in 2011 by David Y. Sun, owner and President of the firm.
Portfolio Management Services EIP manages investment advisory accounts ("Portfolio Management") for individuals, small businesses, retirement plans, trusts, partnerships, corporations or other business or institutional accounts. An initial interview and data gathering questionnaire is undertaken to determine the client's individual needs and risk tolerance. The recommendations are implemented in a portfolio that may include no-load or load waived mutual funds, stocks, bonds, ETF's and other investments deemed appropriate for the client. Other investments may include REITS, limited partnerships and options (covered call writing).
EIP utilizes a dynamic asset allocation approach and maintains several models that are used as guidelines to achieve the client's objectives. While each client account is separately maintained at a third-party custodian and each client retains his or her right of ownership over the account, client accounts with similar risk profiles and objectives may utilize similar investments based on these models.
In some cases, EIP may determine that a client would benefit from the inclusion of a third-party investment management team. In these cases, separate offering materials will be provided to clients who choose to utilize the services of a third-party co-advisor to EIP. Such materials disclose the portfolio management services, fees and termination procedures specific to the investment management team. Clients should read all offering materials carefully. Clients are under no obligation to engage the services of any third-party investment manager.
Through EIP's Portfolio Management Services, EIP offers clients implementation assistance and ongoing and continuous review of investment assets and consolidated performance reporting. EIP provides these Portfolio Management Services on a discretionary basis, whereby transactions or actions are taken by EIP Associates on behalf of the client, without the express written permission of the client. While EIP does have discretion over client accounts, clients may place reasonable restrictions on the types of investments or investment strategies used for their accounts.
EIP may also offer non-discretionary portfolio management services. If a client enters into non- discretionary arrangements with our firm, we must obtain client approval prior to executing any transactions on behalf of the account. Non-discretionary clients have an unrestricted right to decline to implement any advice provided by our firm on a non-discretionary basis.
As part of the Portfolio Management Services, client accounts are reviewed by EIP on an on-going basis, to determine that assets are performing consistent with the investment objectives, overall market conditions, and current asset mix. Consolidated asset reporting to the client is done quarterly. For Portfolio Management, EIP typically recommends that clients start with a minimum portfolio of $250,000. While this is generally the case, lower minimums may be accepted subject to the sole discretion of EIP and based on such factors as related family accounts or other special situations. Portfolio Management clients should also carefully consider investing only those funds that can be committed on a long-term basis, usually at least three to five years. Clients should expect volatility from investing in equity securities, as all investments carry risks.
Financial Planning Services EIP provides Personal Financial Plans consistent with the individual client's financial situation and investment objectives. Planning may be comprehensive or may be "segmented" and focus on investments, insurance, taxes, retirement, and/or estate plans. Dependent upon the scope of the financial planning services to be performed by EIP, the preparation of a plan involves guiding clients in gathering, compiling, preparing, and analyzing personal financial data. If EIP provides estate planning coordination and analysis, the client may be referred to an outside entity, Estate Wise, LLP dba Estate Plan Navigator ("EP Navigator"), for preparation of estate planning documents. The client is under no obligation to utilize the services provided by EP Navigator and does so at their own discretion. The client will receive a written financial plan at the completion of the financial planning process and the client will then have the option to implement recommendations through Associates of EIP, but is not obligated to do so. If Associates of the firm assist in the implementation of any recommendations, clients may engage the firm separately, for Portfolio Management Services described above. Financial plans are based on a client's financial situation at the time the plan is presented, and on the financial information a client provides us. Clients must promptly notify our firm if their financial situation, goals, objectives, or needs change.
Consulting Services In addition to individualized investment management and financial planning, EIP offers investment consulting services on a more limited basis. Such consultation is offered to assist a client in an isolated area of concern, such as an existing investment portfolio or qualified plan. For example, for clients with existing portfolios, EIP may provide on-going advice regarding investment reallocation. This advice will not necessarily involve the development of a financial plan or the actual management of the underlying portfolio assets, but may simply assist clients in evaluating existing holdings and determining necessary reallocations. Consulting services may be rendered differently for different clients, based on the client's individual needs. Clients will be asked to sign a Consulting Services Agreement in order to engage EIP for consulting services.
Retirement Plan Services Ellis, through its investment adviser representative, provides investment advisory services to retirement plans, as selected by the plan fiduciary. In some cases, Ellis may recommend the services of a third-party advisor. The services that may be selected are either ERISA fiduciary services or ERISA non-fiduciary services, as identified, and may be provided on an annual or as-needed basis. Retirement Plan clients have the option from selecting from the services described below: ERISA Fiduciary Services Ellis provides ERISA fiduciary services to the plan as a fiduciary under Section 3(21)(A)(ii) of ERISA and will act in good faith and with the degree of diligence, care and skill that a prudent person rendering similar services would exercise under similar circumstances. As a Section 3(21)(A)(ii) fiduciary, Ellis will solely make recommendations to the plan fiduciary, and the plan fiduciary retains full discretionary authority or control over the assets of the plan. Ellis will have no authority or responsibility in the administration of the retirement plan, in the interpretation of the plan documents, in the determination of employee eligibility to participate in the plan, in the calculation of plan benefits, or in the distribution of any notices to plan participants. Ellis does not act as an "investment manager" as defined under Section 3(38) of ERISA and does not have any discretionary authority over any plan assets. Ellis also does not

act as plan "administrator" as defined by ERISA, and is not the plan custodian, trustee, third party administrator or recordkeeper. Ellis does not have any authority or responsibility to vote proxies for securities held in the plan, or take any action relating to shareholder rights regarding those securities.
Clients may choose from the following ERISA Fiduciary Services:
•Development of an Investment Policy Statement ("IPS"). Ellis will review plan objectives, risk tolerance and goals of the plan with the plan sponsor. Ellis will help plan sponsor establish an investment policy statement to state the investment policies and objectives of the plan. Plan sponsor will have the authority to adopt and implement the objectives and policies for the plan.
•Recommendations to Select Asset Classes. Ellis will provide non-discretionary investment advice with regard to different asset classes and investment options available to help plan fiduciary and/or plan administrators select asset classes and investment options consistent with the investment goals and objectives of the plan.
•Investment Strategy Review and Monitoring. Ellis will conduct periodic due diligence and provide information, reports and recommendations to assist plan fiduciary in monitoring and evaluating the performance of the investment options and asset allocations available in the plan. Ellis will also provide information and recommendations to plan fiduciary or plan administrators to remove or add investment options based on performance or other qualitative measures. ERISA Non-Fiduciary Services In addition to the above described fiduciary services, Ellis offers the following non-fiduciary services solely in a capacity that is not considered a fiduciary under ERISA or any other applicable law:
•Plan Objectives and Design Options. Ellis will assist plan fiduciary in determining the plan objectives and structure of the plan. Ellis will work with third party administrators for the plan.
•Investment Education. Ellis will provide education for plan fiduciary regarding asset classes and types of investment strategies available to the plan. Educational services will be general in nature and will not speak to the individual circumstances of plan participants. Ellis does not provide fiduciary advice to plan participants.
•Plan Development and Service Providers. Ellis will assist the plan fiduciary in evaluating plan service providers, including the selection and evaluation of a third-party administrator, if necessary. If a third-party advisor is recommended for retirement plan services, the plan fiduciary will receive additional disclosure documents from the applicable third-party advisor. If Ellis recommends the rollover of existing qualified plan assets to an IRA rollover, Ellis will provide disclosure regarding the features of the rollover, including expenses. When making the decision to roll over an employer sponsored retirement plan to an IRA, clients are encouraged to consider the following factors:
•Options in the current plan
•Range of investment options
•Fees and expenses
•Services provided by employer sponsored plan
•Tax consequences
•Penalty-free withdrawals (55 in a plan versus 59 ½ in an IRA)
•Loans
•Adviser's services Rollover Recommendations 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. We benefit financially from the rollover of your assets from a retirement account to an account that we manage or provide investment advice, because the assets increase our assets under management and, in turn, our advisory fees. As a fiduciary, we only recommend a rollover when we believe it is in your best interest.
General Information Related to Investment Recommendations For each of the above disclosed advisory services, EIP does not limit its investment recommendations to any specific type of product or security. A client's individual needs and objectives are analyzed to determine appropriate investments and products for the client. Since different types of investments typically involve different types of risk, the firm conducts a risk analysis of the client and his/her overall portfolio, before recommending a certain investment. EIP typically manages assets on a discretionary basis; however, the client is always free to place restrictions on the types of investments the firm recommends for the client's portfolio.
EIP generally recommends an investment allocation which may consist of stocks, bonds, mutual funds, closed-end companies, or exchange traded funds. The firm may also periodically recommend that the client invest in certificate of deposits, annuities, REITS or limited partnerships, including non-publicly traded assets where no readily ascertainable market value exists. EIP may also engage in covered call writing.
EIP may determine that clients would benefit from access to third-party asset managers. Clients will receive separate offering documents from the third-party that explain the services, fees and termination procedures for these third-party programs. Clients should read these offering materials carefully. Use of a third-party as co-advisor to EIP may cost the client more or less than purchasing these services separately.
EIP endeavors at all times to only recommend investments that it feels are suitable for a given client, and the firm makes reasonable efforts to describe in detail, any conflicts of interest that may exist. EIP may also provide advice on non-securities products. Clients should be aware that all securities investments involve risk, including the possible loss of all or part of an investment. Clients who elect to invest in securities must be willing to bear this risk. For this reason, EIP takes care to determine an appropriate risk tolerance of its clients. Investment recommendations are made with this risk tolerance in mind.
Assets Under Management As of December 31, 2023, we provide continuous management services for $752,323,435 in client assets on a discretionary basis, and $48,461,850 in client assets on a non-discretionary basis.