Firm Description Worth Financial Advisory Group, LLC dba Worth Advisors (“Worth”) was formed as a North Carolina Limited Liability Company in March 2006. Worth became registered as an investment adviser in January 2011. Glen E. Wright, II is 100% owner. Worth is a fee based financial planning and investment management firm. The firm does not sell annuities, insurance, or other commissioned products, but the firm’s Managing Member is an insurance agent and sells insurance products. Worth does not act as a custodian of client assets. Other professionals (e.g., lawyers, accountants, tax preparers, insurance agents, etc.) are engaged directly by the client on an as-needed basis and may charge fees of their own. Conflicts of interest will be disclosed to the client in the event they should occur. Types of Advisory Services ASSET MANAGEMENT Worth offers discretionary and non-discretionary direct asset management services to advisory clients. Worth will offer clients ongoing portfolio management services through determining individual investment goals, time horizons, objectives, and risk tolerance. Investment strategies, investment selection, asset allocation, portfolio monitoring and the overall investment program will be based on the above factors. Discretionary When the client provides Worth discretionary authority, the client will sign a limited trading authorization or equivalent. Worth will have the authority to execute transactions in the account without seeking client approval on each transaction. Non-discretionary When the client elects to use Worth on a non-discretionary basis, Worth will determine the securities to be bought or sold and the amount of the securities to be bought or sold. However, Worth will obtain prior client approval on each and every transaction before executing any transactions. ERISA PLAN SERVICES Worth provides service to qualified retirement plans including 401(k) plans, 403(b) plans, pension and profit sharing plans, cash balance plans, and deferred compensation plans. Worth may act as a 3(38) advisor: ERISA 3(38) Investment Manager. Worth can also act as an ERISA 3(38) Investment Manager in which it has discretionary management and control of a given retirement plan’s assets. Worth would then become solely responsible and liable for the selection, monitoring and replacement of the plan’s investment options. 1. Fiduciary Services are:
• Worth has discretionary authority and will make the final decision regarding the initial selection, retention, removal and addition of investment options in accordance with the Plan’s investment policies and objectives.
• Assist the Client with the selection of a broad range of investment options consistent with ERISA Section 404(c) and the regulations thereunder.
• Assist the Client in the development of an investment policy statement (“IPS”). The IPS establishes the investment policies and objectives for the Plan.
• Provide discretionary investment advice to the Plan Sponsor with respect to the selection of a qualified default investment alternative for participants who are automatically enrolled in the Plan or who have otherwise failed to make investment elections. The Client retains the sole responsibility to provide all notices to the Plan participants required under ERISA Section 404(c) (5). 2. Non-fiduciary Services are:
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Assist in the education of Plan participants about general investment information and the investment alternatives available to them under the Plan. Client understands the Worth’s assistance in education of the Plan participants shall be consistent with and within the scope of the Department of Labor’s definition of investment education (Department of Labor Interpretive Bulletin 96-1). As such, the Worth is not providing fiduciary advice as defined by ERISA to the Plan participants. Worth will not provide investment advice concerning the prudence of any investment option or combination of investment options for a particular participant or beneficiary under the Plan.
• Assist in the group enrollment meetings designed to increase retirement plan participation among the employees and investment and financial understanding by the employees. Worth may provide these services or, alternatively, may arrange for the Plan’s other providers to offer these services, as agreed upon between Worth and Client. 3. Worth has no responsibility to provide services related to the following types of assets (“Excluded Assets”):
• Employer securities;
• Real estate (except for real estate funds or publicly traded REITs);
• Stock brokerage accounts or mutual fund windows;
• Participant loans;
• Non-publicly traded partnership interests;
• Other non-publicly traded securities or property (other than collective trusts and similar vehicles); or
• Other hard-to-value or illiquid securities or property. Excluded Assets will not be included in calculation of Fees paid to the Adviser on the ERISA Agreement. Specific services will be outlined in detail to each plan in the 408(b)2 disclosure. WORTH FINANCIAL: FINANCIAL PLANNING AND CONSULTING SERVICES If financial planning services are applicable, the client will compensate Worth on an hourly fee basis or fixed fee basis described in detail under “Fees and Compensation” section of this brochure. Services include but are not limited to a thorough review of all applicable topics including Estate Plan, Investments, Taxes, and Insurance. If a conflict of interest exists between the interests of the investment advisor and the interests of the client, the client is under no obligation to act upon the investment advisor’s recommendation. If the client elects to act on any of the recommendations, the client is under no obligation to effect the transaction through Worth. Financial plans will be completed and delivered inside of thirty (30) days. NEWSLETTERS Worth provides clients with monthly newsletters. The newsletters are educational in nature and no specific investment or tax advice is given. Worth does not charge a fee for these newsletters. Client Tailored Services and Client Imposed Restrictions The goals and objectives for each client are documented in our client files. Investment strategies are created that reflect the stated goals and objective. Clients may impose restrictions on investing in certain securities or types of securities. Agreements may not be assigned without written client consent. Wrap Fee Programs Worth does not sponsor any wrap fee programs. Client Assets under Management As of December 31, 2023, Worth has approximately $179,335,290 in client assets under management on a discretionary basis and no assets under management on a non-discretionary basis.