Brophy Wealth Management, LLC

Item 1. Cover Page 40 South River Road Bedford Place, Unit 15 Bedford, NH 03110 603-668-2303 Wrap Fee Program Brochure (Form ADV Part 2A Appendix 1) May 20, 2026 information about BWM is available on This Wrap Fee Program Brochure provides information about the qualifications and business practices of Brophy Wealth Management, LLC (hereinafter “BWM”). If you have any questions about the contents of this brochure, please contact Stephen. Brophy at 603-668-2303 or via email sbrophy@brophywealth.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 the SEC’s website at www.advisorinfo.sec.gov. BWM is a registered investment advisor. Registration does not imply any level of skill or training. 1  Item 2. Material Changes Annual Update Form ADV Part 2A Appendix 1 requires registered investment advisers to amend their wrap fee program brochure when there are material changes. If there are any material changes to an adviser’s brochure, the adviser is required to notify you and provide you with a description of the material changes. The Material Changes section of this brochure will be updated annually when material changes occur since the previous release of the Wrap Fee Program Brochure. This is the initial version of this Wrap Fee Program Brochure. BWM’s Chief Compliance Officer, Stephen Brophy, remains available to address any questions regarding this Wrap Fee Program Brochure. 2  Item 3. Table of Contents Item 1. Cover Page ...........................................................................................................................................1 Item 2. Material Changes ..................................................................................................................................2 Item 3. Table of Contents ..................................................................................................................................3 Item 4. Services, Fees, and Compensation ......................................................................................................4 Item 5. Account Requirements and Types of Clients........................................................................................7 Item 6. Portfolio Manager Selection and Evaluation .........................................................................................7 Item 7. Client Information Provided to Portfolio Managers ...............................................................................7 Item 8. Client Contact with Portfolio Managers .................................................................................................8 Item 9. Additional Information ...........................................................................................................................8 3  Item 4. Services, Fees, and Compensation A. Brophy Wealth Management (“BWM”) is the sponsor of the BWM Wrap Fee Program (the “Program”). In the Program, BWM provides investment advisory services inclusive of trade execution, custody, and reporting. The services that BWM provides in the Program are the same as the services described in BWM’s Form ADV Part 2A. This Wrap Fee Program Brochure is intended to serve as an appendix (or in addition to) BWM’s Form ADV Part 2A. Certain information has been omitted from this Wrap Fee Program Brochure to avoid duplication. Please review both brochures to ensure you understand all of BWM’s services relating to the Program. Investment Management Services Clients can engage BWM to design and implement investment planning strategies and recommend one or more Independent Managers to manage a client’s assets. Not all client accounts participate in the Program. The Program is generally limited to accounts maintained at Charles Schwab & Co., Inc. where BWM recommends an Independent Manager. Accounts held at other custodians do not participate and clients will remain responsible for the payment of any brokerage and transaction fees. In the Program, BWM is responsible for the payment of any brokerage and transaction fees incurred by Independent Managers, and Schwab charges those fees directly to BWM. The terms and conditions under which the client engages an Independent Manager may be set forth in a separate written agreement between BWM, the client, and the Independent Manager. BWM also monitors and reviews the account performance and the client’s investment objectives. BWM receives an advisory fee that is based upon a percentage of the market value of the assets that is managed by the Independent Manager. When recommending an Independent Manager for a client, BWM reviews information about the Independent Manager such as its disclosure brochure and/or material supplied by the Independent Manager for a description of the Independent Manager’s investment strategies, past performance and risk results to the extent available. Factors that BWM considers in recommending an Independent Manager include the client’s investment objectives, management style, performance, reputation, financial strength, reporting, pricing, and research. In addition to this brochure, the client also receives the written disclosure brochure of each Independent Manager. Certain Independent Managers may impose more restrictive account requirements and varying billing practices than BWM. BWM also may provide advice about any type of investment held in a client's portfolios not directly supervised or managed by BWM. In these events, BWM does not monitor or supervise these other assets and clients are encouraged to review these holdings with BWM. 4  In other very limited circumstances, BWM directly manages the client’s assets on an ongoing basis. BWM tailors its advisory services to accommodate the needs of its individual clients and continuously seeks to ensure that its clients’ portfolios are managed in a manner consistent with their specific investment profiles. BWM consults with clients on an initial and ongoing basis to determine their specific risk tolerance, time horizon, liquidity constraints and other factors relevant to the management of their portfolios. Clients are advised to promptly notify BWM if there are changes in their financial situation or if they wish to place any limitations on the management of their portfolios. Clients may impose reasonable restrictions or mandates on the management of their accounts if BWM determines, in its sole discretion, the conditions would not materially impact the performance of a management strategy or prove overly burdensome to the firm’s management efforts. BWM may provide its clients with a broad range of comprehensive financial consulting services. These services may include advice on investments, insurance, retirement, education, tax, estate planning, and cash flow needs of the client. These services may be included as part of BWM’s Investment Management Services described above. Investment Management Fees BWM provides investment management services for an annual fee based upon a percentage of the market value of the assets managed by BWM. Below is a schedule of the fees generally charged by BWM. Assets under Management On the first $500,000 On the next $500,000 On the next $1,000,000 On amounts thereafter Advisory Fee Rate 1.12 % 0.92% 0.52% 0.32% The total portfolio value may include Assets Under Management from other members of a client’s household, family, company 401k, or other individuals or institutions that they are connected with that has/had a mutual association with Brophy Wealth Management, LLC. The Firm’s management fee is prorated and charged quarterly, in advance (or arrears), as derived from the market value of the assets managed by BWM on the last day of the previous billing period. If assets are deposited into or withdrawn from an account after the inception of a billing period, the fee payable with respect to such assets is typically adjusted to reflect the interim change in portfolio value. For the initial term of an engagement, the fee is calculated on a pro rata basis. In the event the Agreement is terminated, the fee for the final billing period is prorated through the effective date of the termination and the outstanding balance is charged or refunded to the client, as appropriate. The Independent Managers engaged to manage client assets generally charge investment advisory fees that are separate 5  from the Firm’s management fee and such Independent Managers and other turnkey asset management platforms may employ billing practices that differ from those of BWM. BWM, in its sole discretion, may negotiate to charge a lesser management fee based upon certain criteria (i.e., anticipated future earning capacity, anticipated future additional assets, dollar amount of assets to be managed, related accounts, account composition, pre-existing client, account retention, pro bono activities, etc.). Fee Debit BWM’s Agreement and the separate agreement with any Financial Institutions may authorize BWM or the Independent Manager to debit the client’s account for the amount of BWM’s fee and to directly remit that fee to BWM or the Independent Manager. Any Financial Institutions recommended by BWM have agreed to send a statement to the client, at least quarterly, indicating all amounts disbursed from the account, including the amount of management fees paid directly to BWM. Account Additions and Withdrawals Clients may make additions to and withdrawals from their account at any time, subject to BWM’s right to terminate an account. Additions may be in cash or securities provided that the Firm reserves the right to liquidate any transferred securities or decline to accept particular securities into a client’s account. Clients may withdraw account assets on notice to BWM, subject to the usual and customary securities settlement procedures. However, BWM designs its portfolios as long-term investments, and the withdrawal of assets may impair the achievement of a client’s investment objectives. BWM may consult with its clients about the options and implications of transferring securities. Clients are advised that when transferred securities are liquidated, they may be subject to transaction fees, fees assessed at the mutual fund level (i.e., contingent deferred sales charge) and/or tax ramifications. B. Participation in the Program may cost more or less than purchasing such services separately. Also, the Program fee charged by BWM for participation in the Program may be higher or lower than those charged by other sponsors for comparable wrap fee programs. Depending on the percentage wrap-fee charged by BWM, the amount of portfolio activity in the client's account, and the value of custodial and other services provided, the wrap fee may or may not exceed the aggregate cost of such services if they were to be provided separately or if BWM were to negotiate transaction fees and seek best price and execution of transactions for the client's account. Clients are solely responsible for determining which offering that they select or negotiate to enter, and BWM is under no obligation to monitor or review whether a client would be better off in a different offering. C. The Program’s wrap fee does not include certain charges and administrative fees, including, but not limited to, fees charged by Independent Managers, transaction charges (excluding mark-ups and mark- downs) resulting from trades effected through or with a broker-dealer other than Schwab, transfer taxes, 6  odd lot differentials, interest charges, and any charges, taxes or other fees mandated by any federal, state or other applicable law or otherwise agreed to with regard to client accounts. Client accounts may invest in mutual funds (including money market funds) and ETFs that have various internal fees and expenses (i.e. management fees), which are paid by these funds but ultimately borne by clients as a fund shareholder. These internal fees and expenses, and the previously discussed fees and expenses, are in addition to the fees charged by BWM. Fees charged by Independent Managers generally range from 25 bps to 95 bps (0.25% - 0.95%), per annum. Clients remain responsible for the payment of Independent Managers, and these fees are separate, and in addition, to the fees charged by BWM. D. BWM related persons who recommend the Program to clients do not receive compensation because of a client’s participation in the wrap fee program. Item 5. Account Requirements and Types of Clients BWM provides its services to individuals, pension and profit-sharing plans, trusts, estates, charitable organizations, corporations and business entities. Client relationships vary in scope and length of service. BWM does not impose a minimum portfolio size or minimum annual fee. Certain Independent Managers may, however, impose more restrictive account requirements and varying billing practices than BWM. In such instances, BWM may alter its corresponding account requirements and/or billing practices to accommodate those of the Independent Managers. Item 6. Portfolio Manager Selection and Evaluation A. BWM generally recommends the use of Independent Managers. In these situations, BWM continues to do ongoing due diligence of such managers, but such recommendations rely to a great extent on the Independent Managers’ ability to successfully implement their investment strategies. In addition, BWM generally may not have the ability to supervise the Independent Managers on a day-to-day basis. B. BWM acts as the portfolio manager for the Program. Inasmuch as the execution costs for transactions effected in the client account will be paid by BWM, a conflict of interest arises because BWM bears certain transaction costs for participating accounts and BWM has an incentive to limit trading activity in those accounts. In addition, the amount of compensation received by BWM as a result of the client’s participation in the Program may be more than what BWM would receive if the client paid separately for investment advice, brokerage and other services. As the Program sponsor, the Registrant is responsible for the primary management of the Program, including the selection and termination of all Independent Managers. Once selected, Independent Managers will be responsible for day-to-day management and selection of securities for the account. Item 7. Client Information Provided to Portfolio Managers 7  BWM serves as the Program’s portfolio manager. BWM shall provide investment advisory services specific to the needs of each client. Prior to providing investment advisory services, an investment adviser representative will discuss with each client their particular investment objective(s). BWM shall allocate each client’s investment assets consistent with their designated investment objective(s). Clients may impose restrictions, in writing, on BWM services. To the extent the Program uses Independent Manager(s), BWM shall provide the Independent Manager(s) with each client’s particular investment objective(s). Any changes to the client’s financial situation or investment objectives reported by the client to BWM shall be communicated to the Independent Manager(s) within a reasonable period of time. Item 8. Client Contact with Portfolio Managers The client shall have, without restriction, reasonable access to the Program’s portfolio manager. Item 9. Additional Information Instead of reiterating the information in the Brochure that is found in Items 9 (Disciplinary Information), 10 (Other Financial Industry Activities and Affiliations) 11 (Code of Ethics, Participation or Interest in Client Transactions and Personal Trading), 13 (Review of Accounts), 14 (Client Referrals and Other Compensation), and 18 (Financial Information), that information is incorporated by reference. Clients and prospective clients should review those sections of the Brochure carefully. 8