Description of Firm Bridgeworth, LLC d/b/a Bridgeworth Wealth Management is a registered investment adviser primarily headquartered in Birmingham, Alabama. We are organized as a limited liability company ("LLC") under the laws of the State of Alabama. We have been providing investment advisory services since 2012 and are owned by the following:
•DeLynn M. Zell
•David Wayne Harris
•Jeffrey McCormack
•Brian Hinson
•Jennifer Sneed
•Charles Zachary Ivey
•James Samuel Fitch
•William O'Neal Hocutt
•Jeris B. Gaston The following paragraphs describe our services and fees. Refer to the description of each investment advisory service listed below for information on how we tailor our advisory services to your individual needs. As used in this brochure, the words "we," "our," "us" and "Bridgeworth" refer to Bridgeworth Wealth Management and our Investment Adviser Representatives and the words "you," "your," and "client" refer to you as either a client or prospective client of our firm.
Description of the Types of Advisory Services We Offer Our firm provides investment advisory and financial planning services including:
•Comprehensive Wealth Management
•Financial Planning and Consulting (stand-alone)
•Investment Management (stand-alone)
•Private Client Group
•Bridgeworth Access Program
•Robo-Advisor Programs
•Selection of Other Advisors
•Retirement Plan and Pension Consulting Comprehensive Wealth Management Services Bridgeworth provides comprehensive wealth management services to individuals, families and business owners. The comprehensive program includes both financial planning and asset management services. Bridgeworth believes that it is important to address financial planning issues on an ongoing basis and in concert with investment management. Financial planning/consulting and investment management is also offered on a stand-alone basis if the client desires. Please see the details below.
Financial Planning and Consulting Services (Stand-Alone) We provide stand-alone financial planning and consulting services to individuals, families, and business owners. Generally, such financial planning services will involve preparing a financial plan or rendering a financial consultation for clients based on the client's current situation, financial goals and objectives. This planning or consulting may encompass one or more of the following areas: Investment Planning, Retirement Planning, Estate Planning, Charitable Planning, Education Planning, Personal Tax Planning, Mortgage/Debt Analysis, Insurance Analysis, Divorce Planning, Business Owner Exit Planning, Business and Personal Financial Planning, Review of Employee Benefit Plans, and other planning and consulting services as requested by the client and agreed to by the Financial Advisor.
Our financial plans or financial consultations rendered to clients usually include general recommendations for a course of activity or specific actions to be taken by the clients. For financial planning clients, we provide a written summary of the client's financial situation, our observations, and recommendations. For financial consulting clients, we usually do not provide a written summary of our observations and recommendations, as the process is less formal than our planning service. Plans or 4 consultations are typically completed within six (6) months of the client signing a contract with us, assuming that all the information and documents we request from the client are provided to us promptly. Implementation of the recommendations will be at the discretion of the client.
Prior to engaging Bridgeworth to provide planning or consulting services, clients are generally required to enter into a Financial Planning and Consulting Agreement with us 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, a deposit if any, prior to our firm commencing services.
Financial planning and consulting services are based on the client's current financial situation and the information disclosed by the client to Bridgeworth at time of engagement. The client should notify the adviser promptly upon any changes in the client's financial situation, goals or objectives. We may refer clients to an accountant, attorney or other specialist, as necessary for non-advisory related services. Clients who engage Bridgeworth on a fee for service basis for financial planning and consulting services are under no obligation to use Bridgeworth for investment management or brokerage services, purchase insurance or take any other action as recommended by the adviser.
Investment Management Services (Stand-Alone) Bridgeworth provides investment management that are tailored to meet our clients' needs and investment objectives. We will gather information about your financial situation and objectives, and assist you in determining your investment goals, objectives, risk tolerance and income needs (collectively "investment parameters). Through our discussion to determine your investment parameters, we will develop an Investment Policy Statement ("IPS"). In accordance with your IPS, we will provide you with recommendations and/or allocate your investments in models constructed by our firm. These models are designed for investors with varying degrees of risk tolerance ranging from a more aggressive investment strategy to a more conservative investment approach Typically models consist of no-load mutual funds and or exchange-traded fund ("ETFs") to achieve the clients investment goals. In some situations, the advisor may utilize individual stocks, bonds, certificate of deposits, and alternative investments to meet the needs of its clients.
If you participate in our discretionary asset management services, we require you to grant us discretionary authority to manage your account. Subject to a grant of discretionary authorization, we have the authority and responsibility to formulate investment strategies on your behalf. Discretionary authorization will allow us to determine the specific securities, and the amount of securities, to be purchased or sold for your account without obtaining your approval prior to each transaction. We will also have discretion over the broker or dealer to be used for securities transactions in your account. Discretionary authority is typically granted by the investment advisory agreement you sign with our firm or trading authorization forms. You may limit our discretionary authority (for example, limiting the types of securities that can be purchased or sold for your account) by providing our firm with your restrictions and guidelines in writing. Each client has the opportunity to place reasonable restrictions on the types of investments to be held in an investment portfolio. Restrictions on investments in certain securities or types of securities may not be possible due to the level of difficulty this would entail in managing the account.
We also offer non-discretionary asset management services. If you enter into non-discretionary arrangements with our firm, we must obtain your approval prior to executing any transactions on behalf of your account. You have an unrestricted right to decline to implement any advice provided by our firm on a non-discretionary basis 5 Private Client Group Services Our Private Client Group ("PCG") is a program designed for higher net worth clients with more complex needs who meet certain investable asset requirements. Participants receive the same comprehensive wealth management services as other clients. However, clients in this group may receive invitations to specialized educational and other events specifically tailored to those in similar financial situations. In addition, they may require a higher service level such as additional meetings throughout the year and have more than one advisor assigned to them. We target clients with a minimum portfolio size of $5,000,000 for our PCG program. Bridgeworth Access Program The Bridgeworth Access Program is designed for clients that are on track to meet their target client profile in the near future, but may not currently meet the firm's required minimums. The Bridgeworth Access Program may also be offered to family members of selected clients. The program will provide assistance with goal setting and monitoring, analysis of employee benefits, debt management, cash flow planning, college planning, and mortgage consulting with a strong emphasis on basic financial education. A review and ongoing touchpoints will be planned throughout the year to ensure goals are tracking. The program also provides clients access to their own personal financial website with cash flow and net worth trackers. Bridgeworth Access Program clients who ultimately engage Bridgeworth for investment management services however are under no obligation to do so.
Robo-Advisor Programs Bridgeworth believes that certain clients will benefit from certain robo-advisor enhanced advisory services, particularly due to the relatively low minimum account balance and the combination of a digital advice solution with access to an advisor. We offer two automated investment programs, one through Charles Schwab & Co., Inc. ("CS&Co") and the other through LPL Financial, LLC ("LPL"). In general, robo-advisor programs offer clients the ability to participate in a centrally managed, algorithm- based investment program, which are made available to clients through web-based, interactive account management portals. Investment recommendations are generated through proprietary, automated, computer algorithms based on model portfolios. Programs can differ based on security and/or model selection, fees, conflicts of interest and personal interaction with your advisor. We have provided a brief description of each program below. Please refer to the ADV Disclosure Brochures for CS&Co and/or LPL and account applications for additional details related to each program.
Charles Schwab & Co., Inc.'s Program Clients are invested in a range of investment strategies we have constructed and manage, each consisting of a portfolio of exchange-traded funds and mutual funds ("Funds") and a cash allocation. The client may instruct us to exclude up to three Funds from their portfolio. The client's portfolio is held in a brokerage account opened by the client at Charles Schwab & Co., Inc. ("CS&Co"). We use the Institutional Intelligent Portfolios® platform ("Platform"), offered by Schwab Performance ("SPT"), a software provider to independent investment advisors and an affiliate of CS&Co. (together, "Schwab"), to operate the Program. The Platform enables us to make the Program available to clients online and includes a system that automates certain key parts of our investment process (the "System"). Based on information the client provides to us, we will recommend a portfolio via the System. The client may then indicate an interest in a portfolio that is one level less or more conservative or aggressive than the recommended portfolio, but we then make the final decision and select a portfolio based on all the information we have about the client. The System also includes an automated investment engine through which we manage the client's portfolio on an ongoing basis through automatic rebalancing and tax-loss harvesting (if the client is eligible and elects).
6 We, and not Schwab, are the client's investment advisor and primary point of contact with respect to the Program. We are solely responsible, and Schwab is not responsible, for determining the appropriateness of the Program for the client, choosing a suitable investment strategy and portfolio

for the client's investment needs and goals, and managing that portfolio on an ongoing basis.
LPL's Guided Wealth Portfolios ("GWP") GWP provides investment recommendations to buy and sell open-end mutual funds and exchange- traded funds that are generated through proprietary, automated, computer algorithms of Xulu, Inc., doing business as FutureAdvisor ("FutureAdvisor"), based upon model portfolios constructed by LPL and selected for the account. The model portfolios cannot be changed or customized. Only one model portfolio is permitted per account. Bridgeworth is responsible, on an ongoing basis, as investment advisor and fiduciary for the client relationship for (including but not limited to): recommending the program for the client; providing ongoing monitoring of the program; determining initial and ongoing suitability of the program for the client; and reviewing and approving any change in investment objective due to changes clients make to their client profile. GWP is made available through a web-based portal and communications concerning the program are intended to occur primarily through electronic means (including but not limited to, through email communications or through such portal), although an Advisor, typically an LPL investment advisor representative, will be available to discuss investment strategies, objectives or the account, in general, via telephone. Therefore, the program differs from more traditional advisory relationships in which your Bridgeworth investment adviser representative has more frequent personal interactions with you. There are different service levels available, however, the program is intended for clients with lower touch expectations. Potential clients should consider whether GWP will provide the type of advisory relationship you desire.
Selection of Other Advisers If suitable, we may recommend the services of third party money manager ("TPMMs") to manage all, or a portion of, your investment portfolio. Investment advice and trading of securities will only be offered by or through the chosen TPMMs. Our firm will not offer advice on any specific securities or other investments in connection with this service. TPMMs selected under these programs will have discretion to determine the securities they will buy and sell within the account(s). We will assume discretionary authority to hire and fire TPMMs and/or reallocate your assets to other TPMMs where we deem such action appropriate.
Prior to referring clients, our firm will provide initial due diligence on TPMMs and ongoing reviews of their management of client accounts. In order to assist in the selection of a third party manager, we will gather client information pertaining to financial situation, investment objectives, and reasonable restrictions to be imposed upon the management of the account. In certain instances, the investment program may be wrap fee program. Generally, a wrap fee program is a type of investment program that provides clients with asset management and brokerage services for one all-inclusive fee. Wrap fee programs are typically more appropriate for active accounts and are managed accordingly.
We will review the TPMM's reports provided to the client at least annually. We will contact clients from time to time in order to review their financial situation and objectives; communicate information to TPMM as warranted; and assist the client in understanding and evaluating the services provided by the TPMM. Clients will be expected to notify our firm of any changes to their financial situation, investment objectives, or account restrictions that could affect their financial standing.
7 Retirement Plan and Pension Consulting Services We provide retirement plan and pension consulting services to employer plan sponsors on an ongoing basis. Generally, such pension consulting services consist of assisting employer plan sponsors in establishing, monitoring and reviewing their company's participant-directed retirement plan. As the needs of the plan sponsor dictate, areas of advising could include: investment options, plan structure and participant education. Retirement Plan and Pension Consulting services typically include:
•Establishing an Investment Policy Statement - our firm will assist in the development of a statement that summarizes the investment goals and objectives along with the broad strategies to be employed to meet the objectives.
•Investment Options - our firm will work with the Plan Sponsor to evaluate existing investment options and make recommendations for appropriate changes.
•Asset Allocation and Portfolio Construction - our firm will develop strategic asset allocation models to aid Participants in developing strategies to meet their investment objectives, time horizon, financial situation and tolerance for risk.
•Investment Monitoring - our firm will monitor the performance of the investments and notify the client in the event of over/under performance and in times of market volatility. In providing services for retirement plan and pension consulting, our firm does not provide any advisory services with respect to the following types of assets: employer securities, real estate (excluding real estate funds and publicly traded REITs), participant loans, non-publicly traded securities or assets, other illiquid investments, or brokerage window programs (collectively, "Excluded Assets").
All retirement plan and pension consulting services shall be in compliance with the applicable state law(s) regulating pension consulting services. This applies to client accounts that are pension or other employee benefit plans ("Plan") governed by the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). If the client accounts are part of a Plan, and we accept appointments to provide our services to such accounts, we acknowledge that we are a fiduciary within the meaning of Section 3(21) of ERISA (but only with respect to the provision of services described in the Pension Consulting Agreement).
Participant Investment Consulting Service ("PICS") Our PICS service renders professional advice to retirement plan participants in accordance with the client's personal investment objectives and will not be acting as a fiduciary under the Employee Retirement Income Security Act of 1974 ("ERISA"), as amended, and the Investment Advisers Act of 1940. The consultation services offered by our firm will be limited to providing information about the retirement plan, general financial and investment information, asset allocation models, and investment materials. PICS will be limited to recommendations for the following investment options available under the plan, as applicable: mutual funds, exchange traded funds, allocations among annuity sub- accounts, collective investment trusts, pooled separate accounts, publicly traded stock of the sponsor of the plan or its affiliate ("company stock"), and other securities that may be available in brokerage windows or other similar plan arrangements that enable participants to select investments beyond those designated by the Plan.
These services are intended to educate the Client and assist them in assessing their future retirement income needs and the impact of different asset allocations on retirement income. We may provide educational information to the Client regarding the possible distribution of Client's plan assets, the transfer of assets to an individual retirement account ("IRA"), and/or engagement of our firm to provide advisory services with respect to an IRA account. To the extent that Client receives such information, Client acknowledges that we are not recommending one option over another and further acknowledges that it is important to consider upon termination with the employer sponsoring the plan that client has options such as: remaining invested in the plan, transferring assets to a defined contribution plan or to 8 an IRA or withdrawing assets with possible IRS penalties. We do not provide ongoing consulting or management services or have discretionary authority with respect to Client's retirement plan assets. Client is solely responsible for determining whether to implement any of the recommendations made and for placing and executing such transactions.
Investment Advice to Employee Benefit Plans Since we may render investment advice to employee benefit plans under Section 4975(e)(3)(B) of the Internal Revenue Code, we act as a fiduciary within the meaning of section 3(21)(A)(ii) of the Advisers Act. As such, we must act "with the care, skill, prudence and diligence under the circumstance then prevailing that a prudent person acting in like capacity and familiar with such matters would use in the conduct of an enterprise of a like character with like aims" (ERISA 404(a)(1)(B)).
Wrap Fee Programs We no longer sponsor or serve as a portfolio manager to a wrap fee program. We may recommend that you invest in a wrap fee program sponsored by a TPMM. Please refer to the Selection of Other Advisers section for additional details on the TPMM's programs.
Types of Investments We primarily offer advice on mutual funds, exchange traded funds ("ETFs"), stock, bonds, and money market funds. Refer to the Methods of Analysis, Investment Strategies and Risk of Loss below for additional disclosures on this topic. Additionally, we may advise you on various types of investments based on your stated goals and objectives. We may also provide advice on any type of investment held in your portfolio at the inception of our advisory relationship.
Since our investment strategies and advice are based on each client's specific financial situation, the investment advice we provide to you may be different or conflicting with the advice we give to other clients regarding the same security or investment.
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. 9 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.
Assets Under Management As of December 31, 2022, we provide continuous management services for $2,009,624,375 in client assets on a discretionary basis, and $6,873,855 in client assets on a non-discretionary basis.