BEANTOWN FINANCIAL ADVISORS LLC

Firm Brochure (Part 2A of Form ADV) BEANTOWN FINANCIAL ADVISORS LLC 165 CANNON ROAD JEFFERSON, MA 01522 Telephone: (508) 529-0102 Fax: (508) 464-5870 www.BeantownFinancial.com Info@BeantownFinancial.com This brochure provides information about the qualifications and business practices of Beantown Financial Advisors LLC. If you have any questions about the contents of this brochure, please contact us at: (508) 529-0102, or by email at: Info@BeantownFinancial.com. The information in this brochure has not been approved or verified by the United States Securities and Exchange Commission, or by any state securities authority. Additional information about Beantown Financial Advisors LLC is available on the SEC’s website at www.adviserinfo.sec.gov UPDATED: JANUARY 2026 Beantown Financial Advisors LLC  2 Material Changes 2A Annual Update The Material Changes section of this brochure will be updated when material changes occur since the previous release of the Firm Brochure. 2B Material Changes since the Last Update NONE 2C Full Brochure Available Whenever you would like to receive a complete copy of our Firm Brochure, please contact us by telephone at: (508) 529-0102 or by email at: Info@BeantownFinancial.com i Beantown Financial Advisors LLC  3 Table of Contents 2 Material Changes .................................................................................................................... i 2A Annual Update ....................................................................................................................................... i 2B Material Changes since the Last Update ............................................................................................. i 2C Full Brochure Available ........................................................................................................................ i 3 Table of Contents...........................................................................................................TOC 1 4 Advisory Business ................................................................................................................... 1 4A Firm Description .................................................................................................................................. 1 4B Principal Owner .................................................................................................................................... 1 4C Assets Under Management .................................................................................................................. 1 4D Services Offered ................................................................................................................................... 1 4E Financial Planning Services ................................................................................................................. 2 4F Wealth Management Services .............................................................................................................. 2 4G Hourly Planning Engagements ........................................................................................................... 2 4H Income Tax Planning and Accounting Services .............................................................................. 2 4I Termination of Agreement & Past Due Accounts............................................................................ 2 5 Fees and Compensation ......................................................................................................... 3 5A Description & Timing .......................................................................................................................... 3 5B Other Fees Clients May Pay ................................................................................................................ 4 5C Expense Ratios ...................................................................................................................................... 4 6 Performance-Based Fees ........................................................................................................ 4 6A Sharing of Capital Gains ...................................................................................................................... 4 7 Types of Clients ...................................................................................................................... 4 7A Description ............................................................................................................................................ 4 7B Account Minimum / Annual Fee Minimum .................................................................................... 4 8 Methods of Analysis, Investment Strategies and Risk of Loss .............................................. 5 8A Methods of Analysis ............................................................................................................................. 5 8B Investment Strategies............................................................................................................................ 5 8C Risk of Loss ........................................................................................................................................... 5 9 Disciplinary Information ........................................................................................................ 6 9A Legal and Disciplinary .......................................................................................................................... 6 10 Other Financial Industry Activities and Affiliations ............................................................. 6 10A Activities & Affiliations ..................................................................................................................... 6 TOC 1 Beantown Financial Advisors LLC  11 Code of Ethics ....................................................................................................................... 7 11A Participation or Interest in Client Transactions ............................................................................. 7 11B Personal Trading ................................................................................................................................. 7 12 Brokerage Practices ............................................................................................................... 7 12A Selecting Brokerage Firms ................................................................................................................. 7 12B Soft Dollars .......................................................................................................................................... 7 12C Order Aggregation .............................................................................................................................. 7 13 Review of Accounts ............................................................................................................... 8 13A Periodic Reviews ................................................................................................................................. 8 13B Regular Reports ................................................................................................................................... 8 14 Client Referrals and Other Compensation ............................................................................ 8 14A Incoming Referrals ............................................................................................................................. 8 14B Referrals Out ....................................................................................................................................... 8 15 Custody .................................................................................................................................. 8 16 Investment Discretion ........................................................................................................... 9 16A Discretionary Authority for Trading ................................................................................................ 9 17 Voting Client Securities ......................................................................................................... 9 17A Proxy Votes ......................................................................................................................................... 9 18 Financial Information ........................................................................................................... 9 18A Financial Condition ............................................................................................................................ 9 Form ADV Part 2B .................................................................................................................. 10 Item 1: Cover Page ................................................................................................................................... 10 Brochure Supplement (Part 2B of Form ADV) ....................................................................... 11 Item 2: Educational Background and Business Experience ............................................................... 11 JOSEPH E. SOMERSET ........................................................................................................................ 11 TOC 2 Beantown Financial Advisors LLC  4 Advisory Business 4A Firm Description Beantown Financial Advisors LLC (“Company”) was established in 2004. Beantown Financial Advisors LLC provides personalized, integrated Financial Planning and Wealth Management services to individuals, trusts, & estates. Advice is provided through consultation with the client and may include: determination of financial goals & objectives, cash flow management, retirement planning, investment management, tax planning, insurance planning, estate planning, and education planning. Beantown Financial Advisors LLC is strictly a fee-only financial planning, tax, and investment advisory firm. The firm does not sell any products. No commissions in any form are accepted and no finder’s fees are accepted or paid. Beantown Financial Advisors LLC does not act as a custodian of client assets. Assets are invested primarily in no-load or low-load mutual funds and exchange-traded funds through Charles Schwab & Co (“Schwab”). Individual stocks and bonds are owned in specific situations. Clients provide us with a limited power of attorney authorizing us to place trades in their account – on their behalf. Other professionals (e.g., lawyers, accountants, insurance agents, etc.) are engaged directly by the client on an as-needed basis. The initial meeting is free of charge and is considered an exploratory interview to determine whether there is a good fit between our firm and your needs. 4B Principal Owner Beantown Financial Advisors LLC is a limited liability company that is Member- Managed by its principal owner, Joseph E. Somerset, CPA CFA MSFP. 4C Assets Under Management As of January 2026 Beantown Financial Advisors LLC managed $158,000,000 in assets custodied at Charles Schwab & Co for 64 clients covering 252 accounts. 4D Services Offered Beantown Financial Advisors LLC offers the following financial services based on each client’s needs and preferences: • Financial Planning Services • Wealth Management Services • Hourly Planning Engagements • Income Tax Planning and Accounting Services Beantown Financial Advisors LLC provides these services under the terms of an appropriate agreement (described in more detail below). 1  4E Financial Planning Services Financial Planning is designed to help the client with all aspects of their personal financial planning without ongoing investment advice. Financial planning is an ongoing relationship that often continues over many years. It is our desire to build a relationship with our clients as their most trusted advisor. Financial Planning may include, but is not limited to: • Summarizing Client Goals • Preparing a Net Worth Statement • Preparing a Cash Flow Analysis • Reviewing and making recommendations for changes in asset allocation based on goals, risk tolerance, time horizon, and tax situation, etc. • Retirement Planning • Insurance Planning • Estate Planning • Education Planning • Income Tax Planning and Accounting Services Implementation of the recommendations is at the discretion of the client. 4F Wealth Management Services Clients may choose to have Beantown Financial Advisors LLC manage their investments through ongoing investment advice. We will analyze your current investment portfolio, present recommendations based on your personal objectives and investment profile, implement the agreed upon changes, and monitor your accounts on an ongoing basis. Wealth Management Services include all of the services provided under the Financial Planning Services PLUS ongoing investment management of your portfolio. 4G Hourly Planning Engagements Beantown Financial Advisors LLC may provide services on an hourly or project basis for select clients who need advice on a limited scope of work. 4H Income Tax Planning and Accounting Services Beantown Financial Advisors LLC may provide income tax planning and accounting services on an hourly or project basis for select clients who need such services. 4I Termination of Agreement & Past Due Accounts Either a Client or Beantown Financial Advisors LLC may terminate any of the aforementioned agreements at any time through any form of written communication to the other party (i.e. – email, fax, or letter). 2  Clients are charged on a pro-rata basis for services provided through the date of termination. If the client made an advance payment, Beantown Financial Advisors LLC will refund the unearned portion of the advance payment within 7 business days. For Wealth Management services where fees are due in arrears, upon termination a client will be billed for any fees not yet invoiced or paid. 5 Fees and Compensation 5A Description & Timing Beantown Financial Advisors LLC is a fee-only firm that charges as follows: Financial Planning - Fixed annual fees (no subscription fees) Wealth Management – Based on a percentage of assets under management Hourly/Project Planning – Charged by the hour or project Financial Planning Clients are charged according to the degree of complexity of the client’s situation and are charged as a fixed annual fee. The fee is determined at the onset of the engagement and is reviewed annually (or when client circumstances undergo a material change). Fees for Financial Planning currently range up to $14,000 per year. Your fees may be higher or lower. The actual fee will be included in the Financial Planning Agreement signed by the client and Beantown Financial Advisors LLC. The fee may be split into multiple payments as agreed to by the client and company in writing. Contracted work begins immediately. Wealth Management Clients are generally charged based on the market value of “managed assets” in a client’s accounts (investments and cash) at the end of the previous quarter. The annual fee ranges up to 1.0% of assets, depending on the size of a client’s account and the overall complexity of their situation. Other billing arrangements may be made by the client and company in writing. The actual fee structure will be included in the Wealth Management Agreement signed by the client and Beantown Financial Advisors LLC. Wealth Management fees are billed quarterly, in arrears, meaning that we invoice you after the three-month billing period has been completed. Fees are usually deducted from a designated client account to facilitate billing. We do not impose a minimum asset size to work with us, but we do impose a minimum fee which is written in the client contract when imposed. Please see Account Minimum / Annual Fee Minimum below. Contracted work begins immediately. Hourly/Project Planning Engagements Clients are charged based on an hourly rate not to exceed $500 per hour. The client will generally be required to enter into a written agreement with the Company setting forth 3  the terms and conditions of the agreement and describing the scope of services to be provided. Fees are due upon completion of the agreed upon services. Contracted work begins immediately. 5B Other Fees Clients May Pay Custodians may charge transaction fees on purchases or sales of certain mutual funds and exchange-traded funds. Further, there may be charges for certain actions in a client account (client requested overnight checks, etc). Clients may also incur account termination fees upon the transfer of an account from one custodian to another. We do not receive any portion of these transaction, service, or transfer fees. 5C Expense Ratios Mutual funds and exchange-traded funds (ETFs) charge expenses to owners. These expenses include management fees and administration charges. Performance figures quoted in various publications are after the expense ratio has been deducted. These fees are in addition to the fees paid by you to Beantown Financial Advisors LLC. We do not receive any portion of the expenses paid to mutual funds or ETFs. 6 Performance-Based Fees 6A Sharing of Capital Gains N/A. We do not accept performance-based fees. 7 Types of Clients 7A Description Beantown Financial Advisors LLC generally provides investment advice to individuals, their families, and trusts. Client relationships vary in scope and length of service. Client relationships are tailored to individual clients based on their goals and stated desires. Investment portfolios are tailored based on risk tolerance, time horizon, client needs, and other factors as well. 7B Account Minimum / Annual Fee Minimum We do not require an account minimum size, but we do impose minimum annual fees for all new client relationships. The minimum annual fees for new clients are: Financial Planning Relationship $2,500 Wealth Management Relationship $8,000 Hourly Planning Engagement N / A – No Minimum Fee 4  Beantown Financial Advisors LLC, in its sole discretion, may waive or reduce its minimum fees at any time based upon certain criteria (e.g., historical relationship, type of assets, anticipated future earning capacity, anticipated future additional assets, dollar amounts of assets to be managed, related accounts, account composition, negotiations with clients, etc.). 8 Methods of Analysis, Investment Strategies and Risk of Loss 8A Methods of Analysis We provide investment strategy and implementation for all Wealth Management clients. We generally recommend mutual funds and exchange-traded funds for their diversification and/or low cost. Some clients with larger accounts may invest in separately managed accounts. Clients receive the benefit of our investment research, ongoing monitoring, and coordination with their financial goals. The main sources of information for our advice includes financial newspapers and magazines, research materials prepared by others, corporate rating services, annual reports, prospectuses, filings with the Securities and Exchange Commission, and company press releases. Other sources of information that Beantown Financial Advisors LLC may use include Morningstar® and various financial websites. 8B Investment Strategies The primary investment strategy used on client accounts is strategic asset allocation. Portfolios are globally diversified to attempt to control the risk associated with traditional markets. The investment strategy for a specific client is based upon the objectives stated by the client during consultations. The client may change these objectives at any time. 8C Risk of Loss All investment programs have certain risks that are borne by the investor. Our investment approach constantly keeps the risk of loss in mind. Investors face the following investment risks: • Interest-rate Risk: Fluctuations in interest rates may cause investment prices to fluctuate. For example, when interest rates rise, yields on existing bonds become less attractive, causing their market values to decline. • Market Risk: The price of a security, bond, or mutual fund may drop in reaction to tangible and intangible events and conditions. This type of risk is caused by external factors independent of a security’s particular underlying circumstances. For example, political, economic and social conditions may trigger market events. • Inflation Risk: When any type of inflation is present, a dollar today will not buy as much as a dollar next year, because purchasing power is eroding at the rate of inflation. 5  • Currency Risk: Overseas investments are subject to fluctuations in the value of the dollar against the currency of the investment’s originating country. This is also referred to as exchange rate risk. • Reinvestment Risk: This is the risk that future proceeds from investments may have to be reinvested at a potentially lower rate of return (i.e. interest rate). This primarily relates to fixed income securities. • Business Risk: These risks are associated with a particular industry or a particular company within an industry. • Liquidity Risk: Liquidity is the ability to readily convert an investment into cash. Generally, assets are more liquid if many traders are interested in a standardized product. For example, Treasury Bills are highly liquid, while real estate properties are not. • Financial Risk: Excessive borrowing to finance a business’ operations increases the risk of profitability, because the company must meet the terms of its obligations in good times and bad. During periods of financial stress, the inability to meet loan obligations may result in bankruptcy and/or a declining market value. • Additional Risks of ETFs include: o The risk that the ETF may not track the index as designed; o Liquidity and Shutdown Risks; o Risks associated with a change in Authorized Participants and non- participation of Authorized Participants; and o Risks of trading price differing from NAV or price fluctuation and disassociation from the index being tracked. 9 Disciplinary Information 9A Legal and Disciplinary The firm and its principal owner have not been involved in any legal or disciplinary events related to past or present investment clients. 10 Other Financial Industry Activities and Affiliations 10A Activities & Affiliations The Company offers income tax planning and preparation services as well as other accounting services to certain clients. Clients are not required to use the Company for income tax or accounting services. Should we determine that there are any possible conflicts of interest in offering these services to a client, we would discuss such conflicts with the client. We adhere to our Code of Ethics in attempting to resolve any potential conflicts that may arise related to income tax or accounting services. 6  11 Code of Ethics 11A Participation or Interest in Client Transactions Beantown Financial Advisors LLC and its principal may buy or sell securities that are also held by clients. 11B Personal Trading Employee/principal trades are small mutual fund trades or exchange-traded fund (“ETF”) trades which do not affect the securities markets. Any trades involving common stock will be placed only when we have no material, non-public knowledge. We will place trades of clients before our personal trades to attempt to get the best pricing for the clients when dealing with securities that trade with intra-day pricing. We adhere to our Code of Ethics in attempting to resolve any potential conflicts that may arise in trading. Please feel free to request a copy of our Code of Ethics. 12 Brokerage Practices 12A Selecting Brokerage Firms We require that each client engage an independent custodian for custody and brokerage services. The client signs an agreement with the custodian which provides us with access to institutional trading, custody, and other services which may not be available to retail investors. We do not receive any monetary compensation, commissions, or referral fees from any custodian. We use Charles Schwab & Co. as the independent custodian for all new clients. We evaluate our custodian based on: • Technology provided • Availability of investment choices • Access to mutual funds (including institutional share classes) • Reasonableness of expenses • Level of expertise • Reliability and responsiveness to Client and advisor needs 12B Soft Dollars Beantown Financial Advisors LLC does not receive software maintenance credits or other soft dollar benefits. 12C Order Aggregation Most trades are mutual funds or exchange-traded funds where trade aggregation does not garner any client benefit. 7  13 Review of Accounts 13A Periodic Reviews Wealth Management client accounts are monitored and reviewed on an ongoing basis. Account reviews are also performed when market conditions dictate, when there are significant changes in tax laws, or when a client informs the advisor of significant changes in their personal situation. Financial Planning client accounts are reviewed when a client informs the advisor of significant changes in their personal situation. 13B Regular Reports Clients receive statements directly from their custodian, Charles Schwab & Co. Inc. Beantown Financial Advisors LLC does not prepare regular client reports. 14 Client Referrals and Other Compensation 14A Incoming Referrals Beantown Financial Advisors LLC has been fortunate to receive many client referrals over the years. The referrals come from current clients, attorneys, accountants, personal friends, and other similar sources. The firm does not compensate referring parties for these referrals. 14B Referrals Out Beantown Financial Advisors LLC does not accept referral fees or any form of remuneration from other professionals when a prospect or client is referred to them. 15 Custody We do not accept custody of a client’s securities. We do not have the authority to withdraw or transfer assets from client accounts to our account or to any other account not in the client’s name. The one exception is for the purpose of having the independent custodian withdraw our fee from client accounts, with the client’s prior written approval of this practice. Client assets are held by a qualified independent custodian, in the client’s name. Custodians provide account statements directly to clients at their address of record (or e- mail address should the client choose “paperless” delivery) no less frequently than quarterly. We do not accept cash, or any check or stock certificate made out to us, for deposit into a client’s account. All deposits are made directly to the custodian. We do not provide any bill-paying or check-writing services for clients. 8  16 Investment Discretion 16A Discretionary Authority for Trading Beantown Financial Advisors LLC accepts discretionary authority to manage securities accounts on behalf of those clients receiving Wealth Management Services. Beantown Financial Advisors LLC has the authority to determine, without obtaining specific client consent, the securities to be bought or sold, and the amount of the securities to be bought or sold. The limited power of attorney is executed with each signed account application and is maintained by the custodian. 17 Voting Client Securities 17A Proxy Votes Beantown Financial Advisors LLC does not vote proxies on securities. Clients are expected to vote their own proxies. 18 Financial Information 18A Financial Condition Beantown Financial Advisors LLC does not have any financial impairment that will prevent the firm from meeting contractual commitments to clients. Beantown Financial Advisors LLC does not serve as a custodian for client funds or securities and does not require prepayment of fees (i.e. there is no pre-payment of more than $1,200 per client or any payments in advance of work being started). 9  Form ADV Part 2B Item 1: Cover Page BEANTOWN FINANCIAL ADVISORS LLC BROCHURE SUPPLEMENT JOSEPH E. SOMERSET 165 CANNON ROAD JEFFERSON, MA 01522 Telephone: (508) 529-0102 Fax: (508) 464-5870 www.BeantownFinancial.com Info@BeantownFinancial.com UPDATED: JANUARY 2026 This brochure supplement provides information about Joseph Somerset that supplements the Beantown Financial Advisors LLC brochure. You should have received a copy of that brochure. Please contact Beantown Financial Advisors LLC through the above contact information if you did not receive Beantown Financial Advisors LLC’s brochure or if you have any questions about the contents of this supplement. Additional information about Joseph E. Somerset is available on the SEC’s website at www.adviserinfo.sec.gov 10  Brochure Supplement (Part 2B of Form ADV) Item 2: Educational Background and Business Experience Beantown Financial Advisors LLC requires that advisors have a bachelor's degree and further coursework demonstrating knowledge of financial planning and tax planning. Examples of acceptable coursework include: a CPA, CFA, MBA, a CFP®, JD, CTFA, or EA. Additionally, advisors must have work experience that demonstrates their aptitude for financial planning and investment management. JOSEPH E. SOMERSET Year of birth: 1973 Certifications: CPA, Chartered Financial Analyst (CFA) Educational Background: 2000 • MS Financial Planning Bentley College (now Bentley University) • BS Accountancy Bentley College (now Bentley University) 1995 Business Experience: Beantown Financial Advisors LLC 2004 – Present Bentley University 2011 - 2017 The Colony Group (Boston) 1999 – 2003 • Managing Member • Adjunct Faculty • Financial Counselor • Auditor/St. Tax Accountant Deloitte & Touche LLP (Boston) 1995 - 1999 Item 3: Disciplinary Information: None Item 4: Other Business Activities: None Item 5: Additional Compensation: None State Registered Requirement Arbitration Claims: None Self-Regulatory Organization or Administrative Proceeding: None Bankruptcy Petition: None 11