MODERNIST FINANCIAL, LLC

CRD No: 217511 707 SW Washington Street, Suite 910 Portland, OR 97205 Phone: 971-544-7417 FORM ADV PART 2A – DISCLOSURE BROCHURE Effective: March 18, 2026 contact This Form ADV 2A (“Disclosure Brochure”) provides information about the qualifications and business practices of Modernist Financial, LLC (“Modernist” or the “Advisor”). If you have any questions about the contents of the Advisor at 971-544-7417 or by email at this Disclosure Brochure, please team@modernistfinancial.com. Modernist is a registered investment advisor located in the State of Oregon. The information in this Disclosure Brochure has not been approved or verified by the U.S. Securities and Exchange Commission (“SEC”) or by any state securities authority. Registration of an investment advisor does not imply any specific level of skill or training. This Disclosure Brochure provides information about Modernist to assist you in determining whether to retain the Advisor. Additional information about Modernist and its Advisory Persons is available on the SEC’s website at www.adviserinfo.sec.gov by searching with the Advisor’s firm name or CRD number (217511). Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  ITEM 2 – MATERIAL CHANGES Form ADV 2 is divided into two parts: Part 2A (the "Disclosure Brochure") and Part 2B (the "Brochure Supplement"). The Disclosure Brochure provides information about a variety of topics relating to an Advisor’s business practices and conflicts of interest. The Brochure Supplement provides information about Advisory Persons of Modernist. For convenience, the Advisor has combined these documents into a single disclosure document. Modernist believes that communication and transparency are the foundation of its relationship with clients and will continually strive to provide you with complete and accurate information at all times. Modernist encourages all current and prospective Clients to read this Disclosure Brochure and discuss any questions you may have with the Advisor. Material Changes The following material changes have been made to this Disclosure Brochure since the last annual amendment filing on February 27, 2025: • The Advisor is now registered with the SEC due to the level of assets under management. • The Advisor has amended its fee minimum for financial planning services. Please see item 5 for more information. • The Advisor has established an institutional relationship with Fidelity. Please see Items 12 and 14 for additional information. Future Changes From time to time, the Advisor may amend this Disclosure Brochure to reflect changes in business practices, changes in regulations or routine annual updates as required by the securities regulators. This complete Disclosure Brochure or a Summary of Material Changes shall be provided to you annually and if a material change occurs in the business practices of Modernist. At any time, you may view the current Disclosure Brochure on-line at the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with the Advisor’s firm name or CRD number (217511). You may also request a copy of this Disclosure Brochure at any time, by contacting the Advisor at 971-544- 7417 or by email at team@modernistfinancial.com. Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  ITEM 3 – TABLE OF CONTENTS ITEM 2 – MATERIAL CHANGES ................................................................................................. 2 ITEM 3 – TABLE OF CONTENTS ................................................................................................. 3 ITEM 4 – ADVISORY SERVICES ................................................................................................. 5 A. Firm Information ......................................................................................................................... 5 B. Advisory Services Offered ............................................................................................................ 5 C. Client Account Management ....................................................................................................... 7 D. Wrap Fee Programs ..................................................................................................................... 7 E. Assets under Management .......................................................................................................... 7 ITEM 5 – FEES AND COMPENSATION ....................................................................................... 8 A. Fees for Advisory Services ........................................................................................................... 8 B. Fee Billing .................................................................................................................................... 9 C. Other Fees and Expenses ............................................................................................................. 9 D. Advance Payment of Fees and Termination ............................................................................... 10 E. Compensation for Sales of Securities ......................................................................................... 10 ITEM 6 – PERFORMANCE-BASED FEES AND SIDE-BY-SIDE MANAGEMENT .............................. 10 ITEM 7 – TYPES OF CLIENTS ................................................................................................... 11 ITEM 8 – METHODS OF ANALYSIS, INVESTMENT STRATEGIES AND RISK OF LOSS ................... 11 A. Methods of Analysis .................................................................................................................. 11 B. Risk of Loss ................................................................................................................................ 11 ITEM 9 – DISCIPLINARY INFORMATION ................................................................................. 13 ITEM 10 – OTHER FINANCIAL INDUSTRY ACTIVITIES AND AFFILIATIONS ................................. 13 ITEM 11 – CODE OF ETHICS, PARTICIPATION OR INTEREST IN CLIENT TRANSACTIONS AND PERSONAL ............................................................................................................................. 13 A. Code of Ethics ........................................................................................................................... 13 B. Personal Trading with Material Interest .................................................................................... 13 C. Personal Trading in Same Securities as Clients ........................................................................... 14 D. Personal Trading at Same Time as Client ................................................................................... 14 ITEM 12 – BROKERAGE PRACTICES ........................................................................................ 14 A. Recommendation of Custodian[s] ............................................................................................. 14 B. Aggregating and Allocating Trades ............................................................................................ 15 ITEM 13 – REVIEW OF ACCOUNTS ......................................................................................... 15 Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  A. Frequency of Reviews ............................................................................................................... 15 B. Causes for Reviews .................................................................................................................... 15 C. Review Reports ......................................................................................................................... 15 ITEM 14 – CLIENT REFERRALS AND OTHER COMPENSATION .................................................. 15 A. Compensation Received by Modernist ...................................................................................... 15 B. Compensation for Client Referrals ............................................................................................. 16 ITEM 15 – CUSTODY .............................................................................................................. 16 ITEM 16 – INVESTMENT DISCRETION ..................................................................................... 17 ITEM 17 – VOTING CLIENT SECURITIES ................................................................................... 17 ITEM 18 – FINANCIAL INFORMATION .................................................................................... 17 FORM ADV PART 2B – BROCHURE SUPPLEMENT ................................................................... 18 FORM ADV PART 2B – BROCHURE SUPPLEMENT ................................................................... 21 FORM ADV PART 2B – BROCHURE SUPPLEMENT ................................................................... 24 PRIVACY POLICY .................................................................................................................... 27 Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  ITEM 4 – ADVISORY SERVICES A. Firm Information Modernist Financial, LLC (“Modernist” or the “Advisor”) is a registered investment advisor with the U.S. Securities and Exchange Commission (“SEC”). Modernist is organized as a limited liability company (“LLC”) under the laws of Oregon. Modernist was founded in April 2014 under the original name GLH FP, LLC. Modernist became a registered investment advisor in July 2015. Modernist is owned and operated by Georgia Lee Hussey (President and Chief Compliance Officer). This Disclosure Brochure provides information regarding the services, practices and qualifications of Modernist Financial. B. Advisory Services Offered Modernist offers investment management and financial planning services to individuals, families, trusts, estates, and small businesses (each referred to as a “Client”). The Advisor serves as a fiduciary to Clients, as defined under the applicable laws and regulations. As a fiduciary, the Advisor upholds a duty of loyalty, fairness and good faith towards each Client and seeks to mitigate potential conflicts of interest. Modernist’s fiduciary commitment is further described in the Advisor’s Code of Ethics. For more information regarding the Code of Ethics, please see Item 11 – Code of Ethics, Participation or Interest in Client Transactions and Personal Trading. Investment Management Services Modernist provides customized investment advisory solutions for its Clients. This is achieved through continuous personal Client contact and interaction while providing discretionary investment management and consulting services. Modernist works with each Client to identify their investment goals and objectives as well as risk tolerance and financial situation in order to create a portfolio strategy. Modernist will then construct an asset allocation portfolio through the Focus Partners Investment Platform provided by Focus Partners Advisor Solutions, LLC (CRD# 143319 and hereinafter “FPAS”). The Advisor will primarily utilize low-cost, index funds by Dimensional Fund Advisors (“DFA”) or The Vanguard Group Inc. (Vanguard). The Advisor may include legacy positions and other types of investments along with the Client’s account[s] at FPAS. These positions may be retained due to fit with the overall portfolio strategy, tax-related reasons, or other reasons as identified between the Advisor and the Client The Advisor recommends the investment sub-advisory services of Focus Partners (“Focus”) for the management of fixed income portfolios, based on the Client’s needs and objectives. Additionally, the Advisor may utilize Focus for modeling services, where the Advisor will make investment decisions based on the investment models prepared by Focus. Please see Use of Independent Managers below. The Advisor will provide the Client with Focus’ Form ADV2A – Disclosure Brochure and Privacy Policy, prior to signing an agreement, which grants the Advisor the authority to engage Focus as the sub-advisor. The Advisor also separately utilizes Focus for its related back-office services. Modernist’s investment strategies are long-term in nature with a focus on diversification, costs management and tax efficiency. At times, the Advisor may buy, sell or re-allocate positions that have been held less than one year to meet the objectives of the Client, rebalancing back to strategic allocations or due to market conditions. Modernist will construct, implement and monitor the portfolio to ensure it meets the goals, objectives, circumstances, and risk tolerance agreed to by the Client. Each Client will have the opportunity to place reasonable restrictions on the types of investments to be held in their respective portfolio, subject to acceptance by the Advisor. At no time will Modernist accept or maintain custody of a Client’s funds or securities, except for the limited authority as outlined in Item 15 – Custody. All Client assets will be managed within their designated account[s] at the Custodian, pursuant to the terms of the Client investment advisory agreement. For additional information, please see Item 12 – Brokerage Practices. Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  Retirement Accounts – When the Advisor provides investment advice to Clients regarding ERISA retirement accounts or individual retirement accounts (“IRAs”), the Advisor is a fiduciary within the meaning of Title I of the Employee Retirement Income Security Act (“ERISA”) and/or the Internal Revenue Code (“IRC”), as applicable, which are laws governing retirement accounts. When deemed to be in the Client’s best interest, the Advisor will provide investment advice to a Client regarding a distribution from an ERISA retirement account or to roll over the assets to an IRA, or recommend a similar transaction including rollovers from one ERISA sponsored Plan to another, one IRA to another IRA, or from one type of account to another account (e.g. commission-based account to fee-based account). Such a recommendation creates a conflict of interest if the Advisor will earn a new (or increase its current) advisory fee as a result of the transaction. No client is under any obligation to roll over a retirement account to an account managed by the Advisor. Use of Independent Managers As noted above, the Advisor may recommend that a Client utilize the sub-advisory services of Focus for discretionary investment management of fixed income portfolios and Parametric for US equity portfolios with values filters. The Advisor will assist and advise the Client in establishing investment objectives, whether the portfolio is suitable to the Client needs, and will manage investment communications with Focus and/or Parametric. The Advisor will serve as the Client’s primary advisor and relationship manager for the account[s]. The Advisor will provide ongoing oversight of Focus and Parametric’s investment strategies to ensure they are managed consistent to the investment mandate[s]. Personal Financial Planning Services Modernist will typically provide a variety of financial planning services to individuals, and families, pursuant to a written financial planning agreement. Services are customized to a Client’s financial situation, their goals, and objectives. Generally, personal financial planning services involves preparing and maintaining the client’s financial plan, as well as providing ongoing financial consultations based on the Client’s financial goals and objectives. This planning or consulting may encompass multiple areas of need, including, but not limited to investment planning, retirement planning, personal savings, education savings, real estate analysis and other areas of a Client’s financial situation. A financial plan developed for or financial consultation rendered to the Client will usually include general recommendations for a course of activity or specific actions to be taken by the Client. For example, recommendations may be made that the Client start or revise their investment programs, commence or alter retirement savings, establish education savings and/or charitable giving programs. Modernist may also refer Clients to an accountant, attorney or other specialist, as appropriate for their unique situation. For certain financial planning engagements, the Advisor will provide a written summary of Client’s financial situation, observations, and recommendations. For consulting or ad-hoc engagements, the Advisor may or may not provide a written summary. Financial planning recommendations may pose a potential conflict between the interests of the Advisor and the interests of the Client. If the Client elects to act on any of the recommendations made by the Advisor, the Client is under no obligation to affect the transaction through the Advisor. Examples of these situations are provided in Item 11 – Code of Ethics, Participation or Interest in Client Transactions and Personal Trading. In addition, Modernist practices Financial Life Planning, a deeper form of the CFP 5 step financial planning process, that also includes the exploration and implementation of a values-based, life-centered approach to implementing and maintaining a financial plan. This includes helping clients develop awareness of the practical and emotional factors that either enhance or hinder their quality of life and financial satisfaction, as well as the implementation and maintenance of their financial plan. Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  Business Financial Planning Services Modernist will provide financial planning to businesses and their owners, pursuant to a written financial planning agreement. Services are customized to the Client’s financial situation and specific concerns. Typically, business financial planning services will involve holding regular meetings with the Client’s other professional service providers such as banker, accountant, bookkeeper, etc. This planning or consulting may encompass multiple areas of need, including, but not limited to cash flow planning, succession and exit planning, and other areas of a Client’s financial situation. A financial plan developed for or financial consultation rendered to the Client will usually include general recommendations for a course of activity or specific actions to be taken by the Client. For example, recommendations may be made that the Client start or revise a cash flow tracking system, commence or alter retirement savings, or implement tax planning strategies in collaboration with their tax advisor. Modernist may also refer Clients to an accountant, attorney or other specialist, as appropriate for their unique situation. For certain financial planning engagements, the Advisor will provide a written summary of Client’s financial situation, observations, and recommendations. For consulting or ad-hoc engagements, the Advisor may not provide a written summary. C. Client Account Management Prior to engaging Modernist to provide investment advisory services, each Client is required to enter into one or more advisory agreements with the Advisor that define the terms, conditions, authority and responsibilities of the Advisor and the Client. These services may include: o Establishing an Investment Policy – Modernist, in connection with the Client, will develop a strategy that seeks to achieve the Client’s goals and objectives. o Asset Allocation – Modernist will develop a strategic asset allocation that is targeted to meet the investment objectives, time horizon, financial situation and tolerance for risk for each Client. o Portfolio Construction – Modernist will develop a portfolio for the Client that is intended to meet the stated goals and objectives of the Client. o Investment Management and Supervision – Modernist will provide investment management and ongoing oversight of the Client’s investment portfolio. D. Wrap Fee Programs Wrap Fee Program describes a situation in which an Advisor includes Client’s transaction costs and investment advisory fees within a single fee. Modernist does not manage or place Client assets into a wrap fee program. E. Assets under Management As of December 31, 2025, Modernist Financial manages $113,275,149 in Client assets, all of which are managed on a discretionary basis. Clients may request more current information at any time by contacting the Advisor. Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  ITEM 5 – FEES AND COMPENSATION The following paragraphs detail the fee structure and compensation methodology for services provided by the Advisor. Each Client who retains Modernist for advisory services shall enter into one or more advisory agreements with the Advisor that detail the responsibilities of Modernist and the Client. A. Fees for Advisory Services Investment Management Services Investment advisory fees are paid quarterly, in advance of each calendar quarter, pursuant to the terms of the investment advisory agreement. Investment advisory fees are based on the market value of assets under management at the end of each quarter. Investment advisory fees are based on the fee schedules below: Modernist Financial Advisory Fees First $499,999 Next $250,000 (Up to $749,999) Next $250,000 (Up to $999,999) Next $4,000,000 (Up to $4,999,999) Next $15,000,000 (Up to $19,999,999) Amounts over $20,000,000 Annual Fee (Paid Quarterly) 2.00% 1.75% 1.50% 0.90% 0.20% Negotiable Our minimum fee for financial planning is $36,000 per year. This may be waived at the advisor’s discretion. The investment advisory fees paid by clients with assets over $3,000,000 covers our minimum financial planning fee for these services, as well as investment management services (selection in alignment with financial plan, ongoing maintenance, cash management, billing, reporting, etc.). The investment advisory fee in the first quarter of service is prorated from the inception date of the account[s] to the end of the first quarter. Fees may be negotiable at the sole discretion of the Advisor. The Client’s fees will take into consideration the aggregate assets under management with the Advisor. All securities held in accounts managed by Modernist will be independently valued by the Custodian for reporting, billing and other purposes. The Advisor will conduct periodic reviews of the Custodian’s valuations to ensure accurate billing. Use of Independent Managers As noted in Item 4, the Advisor may implement all or a portion of a Client’s investment portfolio utilizing one or more Independent Managers. To eliminate any conflict of interest, the Advisor does not earn any compensation from an Independent Manager. The Advisor will only earn its investment advisory fee as described above. The Advisor will allocate a portion of the advisory fee collected to the Independent Manager pursuant to the terms of the executed agreement between the Advisor and the Independent Manager. The total blended fee, including the Advisor’s fee and the Independent Manager’s fee, will not exceed 2.00% annually. Personal Financial Planning Services If a Client has assets under management exceeding $3,000,000, the financial planning fee will often be waived, unless their financial planning needs warrant a higher fee. If a Client has assets under management below $3,000,000, the financial planning fee will be negotiated based on the nature and complexity of the Client’s needs. The typical range is an annual fee of $2,000-$36,000 (billed monthly). The fee will be presented and agreed upon before an engagement with a new Client is commenced. Some clients may have different fee schedules based on their legacy relationship with the firm or other factors. Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  Business Financial Planning Services The Client will pay Advisor for a block of time (at a rate of $75 to $900 per hour, depending on which staff members are supporting the work) to be utilized on Business Financial Planning. The block of time is estimated based on the nature and complexity of the services to be provided and the overall relationship with the Advisor. The Advisor will provide the Client with an estimate for total hours and overall costs prior to engaging the Advisor for these services. The Advisor will track the time spent and communicate updates to the Client periodically. Additional Information on Fees The Advisor’s fee is exclusive of, and in addition to, brokerage fees, transaction fees, and other related costs and expenses, which may be incurred by the Client. However, the Advisor shall not receive any portion of these commissions, fees, and costs. B. Fee Billing Investment Management Services Client understands and acknowledges that he or she will pay certain fees to Advisor (detailed in the table above), which are referred to as “Advisory Fees.” Such fees are automatically deducted from Client’s Account. These fees will be payable quarterly in advance and upon deposit of any additional funds or securities in Client’s Account. The initial fees are due at the commencement of the next monthly billing cycle. Such fees will be prorated based on the number of days remaining in the quarter. Subsequent fees are due and will be assessed at the beginning of each calendar quarter based on the gross value of Client’s Account assets (securities, cash, and cash equivalents) managed and administered by Advisor and FPAS as of the close of business on the last business day of the preceding calendar quarter. Additional deposits of funds and/or any other securities will be subject to the same fee procedures. Client understands that the full value of the Client’s Account, on a gross basis, is included when calculating fees. This includes any portion of the Client’s Account attributable to margin. As noted below, in addition to the Advisory Fees charged on assets attributable to margin, Client may incur charges from the custodian related to margin. With Client’s permission stated in Investment Advisory Agreement, Advisor instructs FPAS, in conjunction with the Qualified Custodian, to deduct all Advisory Fees from Client’s Account, in addition to all transaction or other charges. Such other charges incurred by Client may include, but are not limited to, transaction fees, inactivity fees, check-writing fees, mutual fund fees, trail commissions, early redemption fees, certain deferred sales charges on previously-purchased mutual funds, margin fees, charges or interest and IRA and qualified retirement plan fees. Use of Independent Managers For Client accounts implemented through an Independent Manager, the Client’s overall fees will include Modernist’s investment advisory fee (as noted above) plus investment management fees and/or platform fees charged by the Independent Manager. The Advisor will assume the responsibility for calculating the Client’s fees and deducting all fees from the Client’s account[s]. Financial Planning Services Financial planning fees may be invoiced up to 100% of the expected total costs in advance of providing planning services, pursuant to the mutual agreement between the Client and the Advisor. Fees may be paid by ACH, credit card or deduction from the Client’s taxable brokerage account. Per regulatory requirements, the Advisor will not collect advance fees of $1,200 or more for services that will be completed six (6) months or more in advance. For any services that are ongoing in nature, the advisor will bill on a monthly basis. C. Other Fees and Expenses Clients may incur certain fees or charges imposed by third parties, other than Modernist, in connection with investments made on behalf of the Client’s account[s]. The Client is responsible for all custody and securities execution fees charged by the Custodian, if applicable. The Advisor's recommended Custodian does not charge Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  securities transaction fees for ETF and equity trades in a Client's account, provided that the account meets the terms and conditions of the Custodian's brokerage requirements. However, the Custodian typically charges for mutual funds and other types of investments. The investment advisory fee charged by Modernist is separate and distinct from these custody and execution fees. In addition, all fees paid to Modernist for investment advisory services are separate and distinct from the expenses charged by mutual funds to their shareholders. These fees and expenses are described in each fund’s prospectus. These fees and expenses will generally be used to pay management fees for the funds, other fund expenses, and account administration (e.g., custody, brokerage and account reporting). The total fee includes a platform fee payable to FPAS. D. Advance Payment of Fees and Termination Investment Management Services/Retirement Plan Advisory Services Modernist is compensated for its investment advisory and retirement plan advisory services in advance of the quarter in which advisory services are rendered. The Client may also terminate the advisory agreement within five (5) business days of signing the Advisor’s agreement at no cost to the Client. After the five-day period, the Client will incur charges for bona fide advisory services rendered to the point of termination and such fees will be due and payable by the Client. The Client shall be responsible for advisory fees up to and including the effective date of termination. Upon termination, the Advisor will refund any unearned, prepaid advisory fees from the effective date of termination to the end of the quarter. The Client’s investment advisory or retirement plan advisory agreement with the Advisor is non-transferable without the Client’s prior consent. Use of Independent Managers In the event that the Advisor has determined that an Independent Manager is no longer in the Client’s best interest, the Advisor will have the discretion to terminate the relationship with the Independent Manager. The terms for termination are set forth in the respective agreements between the Advisor and the Independent Managers. Financial Planning Services Modernist may be compensated for its financial planning services in advance of providing such services. The Client may also terminate the financial planning agreement within five (5) business days of signing the Advisor’s agreement at no cost to the Client. After the five-day period, the Client will incur charges for bona fide advisory services rendered to the point of termination and such fees will be due and payable by the Client. The Client’s financial planning agreement with the Advisor is non-transferable without the Client’s prior consent. E. Compensation for Sales of Securities Modernist does not buy or sell securities and does not receive any compensation for securities transactions in any Client account, other than the Investment Advisory Fees noted above. ITEM 6 – PERFORMANCE-BASED FEES AND SIDE-BY-SIDE MANAGEMENT Modernist does not charge performance-based fees for its investment advisory services. The fees charged by Modernist are as described in Item 5 above and are not based upon the capital appreciation of the funds or securities held by any Client. Modernist does not manage any proprietary investment funds or limited partnerships (for example, a mutual fund or a hedge fund) and has no financial incentive to recommend any particular investment options to its Clients. Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  ITEM 7 – TYPES OF CLIENTS Modernist offers financial planning and investment advisory services to individuals, families, trusts, estates, and small businesses. The amount of each type of Client is available on the Advisor's Form ADV Part 1A. These amounts may change over time and are updated at least annually by the Advisor. Minimum investable assets may be negotiable at the sole discretion of the Advisor. ITEM 8 – METHODS OF ANALYSIS, INVESTMENT STRATEGIES AND RISK OF LOSS A. Methods of Analysis Modernist primarily employs fundamental analysis and Modern Portfolio Theory in developing investment strategies for its Clients. Modernist’s management of our clients’ portfolios primarily utilizes but is not limited to FPAS’ Investment Committee for recommendations on the selection of appropriate investment strategies and opportunities in keeping with our investment philosophy. Our Asset Class Investing philosophy is a passive investment approach based on the research of some of the academic community’s most innovative and respected thinkers and economists. Rooted in the knowledge that asset allocation has the greatest impact on investment returns, it is designed to carefully control the investments included in each asset class, giving investors truer market returns than similar strategies. Integral to that purpose, the Investment Committee defines investment objectives, determines investment strategies and monitors our investment solutions to help meet both the current and future needs of investors. Fundamental analysis utilizes economic and business indicators as investment selection criteria. These criteria are generally ratios and trends that may indicate the overall strength and financial viability of the entity being analyzed. Assets are deemed suitable if they meet certain criteria to indicate that they are a strong investment with a value discounted by the market. While this type of analysis helps the Advisor in evaluating a potential investment, it does not guarantee that the investment will increase in value. Assets meeting the investment criteria utilized in the fundamental analysis may lose value and may have negative investment performance. The Advisor monitors these economic indicators to determine if adjustments to strategic allocations are appropriate. More details on the Advisor’s review process are included below in Item 13 – Review of Accounts. Our research and analysis is derived from numerous sources, including those mentioned above as well as financial media companies, third-party research materials, Internet sources, and review of company activities, including annual reports, prospectuses, press releases and research prepared by others. As noted above, Modernist generally employs a long-term investment strategy for its Clients, as consistent with their financial goals. Modernist will typically hold all or a portion of a security for more than a year, but may hold for shorter periods for the purpose of rebalancing a portfolio or meeting the cash needs of Clients. At times, Modernist may also buy and sell positions that are more short-term in nature, depending on the goals of the Client and/or the fundamentals of the security, sector or asset class. B. Risk of Loss Investing in securities involves certain investment risks. Securities may fluctuate in value or lose value. Clients should be prepared to bear the potential risk of loss. Modernist will assist Clients in determining an appropriate strategy based on their tolerance for risk and other factors noted above. However, there is no guarantee that a Client will meet their investment goals. While the methods of analysis help the Advisor in evaluating a potential investment, it does not guarantee that the investment will increase in value. Assets meeting the investment criteria utilized in these methods of analysis may lose value and may have negative investment performance. The Advisor monitors these economic indicators to determine if adjustments to strategic allocations are appropriate. More details on the Advisor’s review process are included below in Item 13 – Review of Accounts. Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  Each Client engagement will entail a review of the Client's investment goals, financial situation, time horizon, tolerance for risk and other factors to develop an appropriate strategy for managing a Client's account. Client participation in this process, including full and accurate disclosure of requested information, is essential for the analysis of a Client's account[s]. The Advisor shall rely on the financial and other information provided by the Client or their designees without the duty or obligation to validate the accuracy and completeness of the provided information. It is the responsibility of the Client to inform the Advisor of any changes in financial condition, goals or other factors that may affect this analysis. The risks associated with a particular strategy are provided to each Client in advance of investing Client accounts. The Advisor will work with each Client to determine their tolerance for risk as part of the portfolio construction process. Following are some of the risks associated with the Advisor’s investment approach: Market Risks The value of a Client’s holdings may fluctuate in response to events specific to companies or markets, as well as economic, political, or social events in the U.S. and abroad. This risk is linked to the performance of the overall financial markets. ETF Risks The performance of ETFs is subject to market risk, including the possible loss of principal. The price of the ETFs will fluctuate with the price of the underlying securities that make up the funds. In addition, ETFs have a trading risk based on the loss of cost efficiency if the ETFs are traded actively and a liquidity risk if the ETFs has a large bid-ask spread and low trading volume. The price of an ETF fluctuates based upon the market movements and may dissociate from the index being tracked by the ETF or the price of the underlying investments. An ETF purchased or sold at one point in the day may have a different price than the same ETF purchased or sold a short time later. Mutual Fund Risks The performance of mutual funds is subject to market risk, including the possible loss of principal. The price of the mutual funds will fluctuate with the value of the underlying securities that make up the funds. The price of a mutual fund is typically set daily therefore a mutual fund purchased at one point in the day will typically have the same price as a mutual fund purchased later that same day. Bond Risks Bonds are subject to specific risks, including the following: (1) interest rate risks, i.e. the risk that bond prices will fall if interest rates rise, and vice versa, the risk depends on two things, the bond's time to maturity, and the coupon rate of the bond. (2) reinvestment risk, i.e. the risk that any profit gained must be reinvested at a lower rate than was previously being earned, (3) inflation risk, i.e. the risk that the cost of living and inflation increase at a rate that exceeds the income investment thereby decreasing the investor’s rate of return, (4) credit default risk, i.e. the risk associated with purchasing a debt instrument which includes the possibility of the company defaulting on its repayment obligation, (5) rating downgrades, i.e. the risk associated with a rating agency’s downgrade of the company’s rating which impacts the investor’s confidence in the company’s ability to repay its debt and (6) Liquidity Risks, i.e. the risk that a bond may not be sold as quickly as there is no readily available market for the bond. Company Risk When investing in stock positions, there is always a certain level of company or industry-specific risk that is inherent in each investment. This is also referred to as unsystematic risk and can be reduced through appropriate diversification. There is the risk that the company will perform poorly or have its value reduced based on factors specific to the company or its industry. For example, if a company’s employees go on strike Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  or the company receives unfavorable media attention for its actions, the value of the company may be reduced. Fixed Income Risks Fixed Income Securities are subject to specific risks, including the following: (1) interest rate risks, i.e. the risk that bond prices will fall if interest rates rise, and vice versa, the risk depends on two things, the bond's time to maturity, and the coupon rate of the bond. (2) reinvestment risk, i.e. the risk that any profit gained must be reinvested at a lower rate than was previously being earned, (3) inflation risk, i.e. the risk that the cost of living and inflation increase at a rate that exceeds the income investment thereby decreasing the investor’s rate of return, (4) credit default risk, i.e. the risk associated with purchasing a debt instrument which includes the possibility of the company defaulting on its repayment obligation, (5) rating downgrades, i.e. the risk associated with a rating agency’s downgrade of the company’s rating which impacts the investor’s confidence in the company’s ability to repay its debt and (6) Liquidity Risks, i.e. the risk that a bond may not be sold as quickly as there is no readily available market for the bond. Past performance is not a guarantee of future returns. Investing in securities and other investments involves a risk of loss that each Client should understand and be willing to bear. Clients are reminded to discuss these risks with the Advisor. ITEM 9 – DISCIPLINARY INFORMATION There are no legal, regulatory or disciplinary events involving Modernist or any of its owner. Modernist values the trust the Advisor places in the Advisor. The Advisor encourages Clients to perform the requisite due diligence on any advisor or service provider that the Client engages. The backgrounds of the Advisor and its Advisory Persons are available on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with the Advisor’s firm name or CRD# 217511. You may also research the background of Georgia Lee Hussey by searching with her full name or her Individual CRD# 5966642. ITEM 10 – OTHER FINANCIAL INDUSTRY ACTIVITIES AND AFFILIATIONS Board Member Ms. Hussey is also a Board Member for Oregon Humanities, a non-profit 501(c)(3) company that connects people and communities through conversation, storytelling, and participatory programs to inspire understanding and collaborative change. ITEM 11 – CODE OF ETHICS, PARTICIPATION OR INTEREST IN CLIENT TRANSACTIONS AND PERSONAL A. Code of Ethics Modernist has implemented a Code of Ethics (the “Code”) that defines the Advisor’s fiduciary commitment to each Client. This Code applies to all persons associated with Modernist (“Supervised Persons”). The Code was developed to provide general ethical guidelines and specific instructions regarding the Advisor’s duties to the Client. Modernist and its Supervised Persons owe a duty of loyalty, fairness and good faith towards each Client. It is the obligation of Modernist associates to adhere not only to the specific provisions of the Code, but also to the general principles that guide the Code. The Code covers a range of topics that address ethics and conflicts of interest. To request a copy of the Code, please contact the Advisor at 971-544-7417 or via email at team@modernistfinancial.com. B. Personal Trading with Material Interest Modernist allows Supervised Persons to purchase or sell the same securities that may be recommended to and purchased on behalf of Clients. Modernist does not act as principal in any transactions (we do not buy or sell any security from our own accounts to our clients). In addition, the Advisor does not act as the general partner Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  of a fund, or advise an investment company. Modernist does not have a material interest in any securities traded in Client accounts. C. Personal Trading in Same Securities as Clients Modernist allows Supervised Persons to purchase or sell the same securities that may be recommended to and purchased on behalf of Clients. Owning the same securities that are recommended (purchase or sell) to Clients presents a conflict of interest that, as fiduciaries, must be disclosed to Clients and mitigated through policies and procedures. As noted above, the Advisor has adopted the Code to address insider trading (material non- public information controls); gifts and entertainment; outside business activities and personal securities reporting. When trading for personal accounts, Supervised Persons have a conflict of interest if trading in the same securities. The fiduciary duty to act in the best interest of its Clients can be violated if personal trades are made with more advantageous terms than Client trades, or by trading based on material non-public information. This risk is mitigated by Modernist requiring reporting of personal securities trades by its Supervised Persons for review by the Chief Compliance Officer (“CCO”) or delegate. The Advisor has also adopted written policies and procedures to detect the misuse of material, non-public information. D. Personal Trading at Same Time as Client While Modernist allows Supervised Persons to purchase or sell the same securities that may be recommended to and purchased on behalf of Clients, such trades are traded after Client trades are placed. At no time will Modernist, or any Supervised Person of Modernist, transact in any security to the detriment of any Client. ITEM 12 – BROKERAGE PRACTICES A. Recommendation of Custodian[s] Modernist does not have discretionary authority to select the broker-dealer/custodian for custody and execution services. The Client will engage the broker-dealer/custodian (herein the "Custodian") to safeguard Client assets and authorize Modernist to direct trades to the Custodian as agreed upon in the investment advisory agreement. Further, Modernist does not have the discretionary authority to negotiate commissions on behalf of Clients on a trade-by-trade basis. Where Modernist does not exercise discretion over the selection of the Custodian, it may recommend the Custodian[s] to Clients for custody and execution services. Clients are not obligated to use the Custodian recommended by the Advisor and will not incur any extra fee or cost from the Advisor associated with using a custodian not recommended by Modernist. However, the Advisor may be limited in the services it can provide if the recommended Custodian is not engaged. Modernist may recommend the Custodian based on criteria such as, but not limited to, reasonableness of commissions charged to the Client, services made available to the Client, its reputation and/or the location of the Custodian’s offices. Modernist will generally recommend that Clients establish their account[s] at Charles Schwab & Co., Inc. (“Schwab”) or Fidelity Clearing & Custody Solutions and related entities of Fidelity Investments, Inc. (collectively “Fidelity”), each a FINRA-registered broker-dealer and member SIPC. Schwab or Fidelity (herein collectively the “Custodians”) will serve as the Client’s “qualified custodian”. Modernist maintains an institutional relationship with the Custodians, whereby the Advisor receives economic benefits from the Custodians (Please see Item 14 below). Following are additional details regarding the brokerage practices of the Advisor: 1. Soft Dollars - Soft dollars are revenue programs offered by broker-dealers/custodians whereby an advisor enters into an agreement to place security trades with a broker-dealer/custodian in exchange for research and other services. Modernist does not participate in soft dollar programs sponsored or offered by any broker- dealer/custodian. Modernist recommends that Clients establish their account[s] at Schwab, in which the Advisor maintains an institutional relationship. The Advisor receives discounts and other economic benefits as a result of this relationship. Please see Item 14 below. Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  2. Brokerage Referrals - Modernist does not receive any compensation from any third party in connection with the recommendation for establishing an account. 3. Directed Brokerage - All Clients are serviced on a “directed brokerage basis”, where Modernist will place trades within the established account[s] at the Custodian designated by the Client. Further, all Client accounts are traded within their respective account[s] at the Custodian. The Advisor will not engage in any principal transactions (i.e., trade of any security from or to the Advisor’s own account) or cross transactions with other Client accounts (i.e., purchase of a security into one Client account from another Client’s account[s]). Modernist will not be obligated to select competitive bids on securities transactions and does not have an obligation to seek the lowest available transaction costs. These costs are determined by the Custodian. B. Aggregating and Allocating Trades The Advisor does not aggregate a Client’s trades with other clients. ITEM 13 – REVIEW OF ACCOUNTS A. Frequency of Reviews Securities in Client accounts are monitored on a regular and continuous basis by Ms. Hussey, President and Chief Compliance Officer of Modernist. Formal reviews are generally conducted at least annually or more frequently depending on the needs of the Client. Financial planning engagements may be reviewed on an ongoing basis pursuant to the terms of the planning agreement. B. Causes for Reviews In addition to the investment monitoring noted in Item 13.A, each Client account shall be reviewed at least annually. Reviews may be conducted more frequently at the Client’s request. Accounts may be reviewed as a result of major changes in economic conditions, known changes in the Client’s financial situation, and/or large deposits or withdrawals in the Client’s account[s]. The Client is encouraged to notify Modernist if changes occur in the Client’s personal financial situation that might adversely affect the Client’s investment plan. Additional reviews may be triggered by material market, economic or political events. C. Review Reports The Client will receive brokerage statements no less than quarterly from the Custodian. These brokerage statements are sent directly from the Custodian to the Client. The Client may also establish electronic access to the Custodian’s website so that the Client may view these reports and their account activity. Client brokerage statements will include all positions, transactions and fees relating to the Client’s account[s]. The Advisor may also provide Clients with periodic reports regarding their holdings, allocations, and performance. ITEM 14 – CLIENT REFERRALS AND OTHER COMPENSATION A. Compensation Received by Modernist Modernist does not receive commissions or other compensation from product sponsors, broker-dealers or any un- related third party. Modernist may refer Clients to various third parties to provide certain financial services necessary to meet the goals of its Clients. Likewise, Modernist may receive referrals of new Clients from a third- party. Participation in Institutional Advisor Platform - Schwab Modernist has established an institutional relationship with Schwab through its “Schwab Advisor Services” unit, a division of Schwab dedicated to serving independent advisory firms like Modernist. As a registered investment advisor participating on the Schwab Advisor Services platform, Modernist receives access to software and related support without cost because the Advisor renders investment management services to Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  Clients that maintain assets at Schwab. Services provided by Schwab Advisor Services benefit the Advisor and many, but not all services provided by Schwab will benefit Clients. In fulfilling its duties to its Clients, the Advisor endeavors at all times to put the interests of its Clients first. Clients should be aware, however, that the receipt of economic benefits from a custodian creates a potential conflict of interest since these benefits may influence the Advisor's recommendation of this custodian over one that does not furnish similar software, systems support, or services. Services that Benefit the Client – Schwab’s institutional brokerage services include access to a broad range of investment products, execution of securities transactions, and custody of Client’s funds and securities. Through Schwab, the Advisor may be able to access certain investments and asset classes that the Client would not be able to obtain directly or through other sources. Further, the Advisor may be able to invest in certain mutual funds and other investments without having to adhere to investment minimums that might be required if the Client were to directly access the investments. Services that May Indirectly Benefit the Client – Schwab provides participating advisors with access to technology, research, discounts and other services. In addition, the Advisor receives duplicate statements for Client accounts, the ability to deduct advisory fees, trading tools, and back office support services as part of its relationship with Schwab. These services are intended to assist the Advisor in effectively managing accounts for its Clients, but may not directly benefit all Clients. Services that May Only Benefit the Advisor – Schwab also offers other services to Modernist that may not benefit the Client, including: educational conferences and events, financial start-up support, consulting services and discounts for various service providers. Access to these services creates a financial incentive for the Advisor to recommend Schwab, which results in a potential conflict of interest. Modernist believes, however, that the selection of Schwab as Custodian is in the best interests of its Clients. Participation in Institutional Advisor Platform - Fidelity The Advisor has established an institutional relationship with Fidelity, whereby accounts are custodied through Fidelity to assist the Advisor in managing Client account[s]. Access to the Fidelity Institutional platform is provided at no charge to the Advisor. The Advisor receives access to software and related support without cost because the Advisor renders investment advisory services to Clients that maintain assets at Fidelity. The software and related systems support may benefit the Advisor, but not its Clients directly. In fulfilling its duties to its Clients, the Advisor endeavors at all times to put the interests of its Clients first. Clients should be aware, however, that the receipt of economic benefits from Fidelity creates a potential conflict of interest since these benefits may influence the Advisor's recommendation of Fidelity over one that does not furnish similar software, systems support, or services. Additionally, the Advisor may receive the following benefits from Fidelity: receipt of duplicate Client confirmations and bundled duplicate statements; access to a trading desk that exclusively services its institutional participants; access to block trading which provides the ability to aggregate securities transactions and then allocate the appropriate shares to Client accounts; and access to an electronic communication network for Client order entry and account information. B. Compensation for Client Referrals Modernist does not compensate, either directly or indirectly, any persons who are not supervised persons, for Client referrals. ITEM 15 – CUSTODY The Advisor is authorized to deduct its fees from the Client’s account[s] at the Custodian. The Client must place all assets with a “qualified custodian”. The Client is required to engage the Custodian to retain all funds and securities and direct the Advisor to utilize that Custodian for security transactions in the account[s]. The Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  Client should review statements provided by the Custodian, as the Custodian does not perform this review. For more information about custodians and brokerage practices, see Item 12 – Brokerage Practices. If the Client gives the Advisor authority to move money from one account to another account, the Advisor may have custody of those assets. In order to avoid additional regulatory requirements, the Custodian and the Advisor have adopted safeguards to ensure that the money movements are completed in accordance with the Client’s instructions. ITEM 16 – INVESTMENT DISCRETION Modernist generally has discretion over the selection and amount of securities to be bought or sold in Client accounts without obtaining prior consent or approval from the Client. However, these purchases or sales may be subject to specified investment objectives, guidelines, or limitations previously set forth by the Client and agreed to by Modernist. Discretionary authority will only be authorized upon full disclosure to the Client. The granting of such authority will be evidenced by the Client's execution of an investment advisory agreement containing all applicable limitations to such authority. All discretionary trades made by Modernist will be in accordance with each Client's investment objectives and goals. ITEM 17 – VOTING CLIENT SECURITIES Modernist does not accept proxy-voting responsibility for any Client. Clients will receive proxy statements directly from the Custodian. The Advisor will assist in answering questions relating to proxies, however, the Client retains the sole responsibility for proxy decisions and voting. ITEM 18 – FINANCIAL INFORMATION Neither Modernist, nor Ms. Hussey have any adverse financial situations that would reasonably impair the ability of Modernist to meet all obligations to its Clients. Neither Modernist, nor any of its Advisory Persons have been subject to a bankruptcy or financial compromise. Modernist is not required to deliver a balance sheet along with this Disclosure Brochure as the Advisor does not collect fees of $1,200 or more for services to be performed six months or more in advance. Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  FORM ADV PART 2B – BROCHURE SUPPLEMENT For Georgia Lee Hussey, CFP® President and Chief Compliance Officer Effective: March 18, 2026 This Form ADV 2B (“Brochure Supplement”) provides information about the background and qualifications of Georgia L. Hussey (CRD# 5966642) in addition to the information contained in the Modernist Financial, LLC (“Modernist” or the “Advisor”) (CRD # 217511) Disclosure Brochure. If you have not received a copy of the Disclosure Brochure or if you have any questions about the contents of the Modernist Disclosure Brochure or this Brochure Supplement, please contact the Advisor at 971-544-7417 or by email at team@modernistfinancial.com. Additional information about Ms. Hussey is available on the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with her full name or her Individual CRD# 5966642. Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  ITEM 2 – EDUCATIONAL BACKGROUND AND BUSINESS EXPERIENCE Georgia Lee Hussey, born in 1979, is dedicated to advising Clients of Modernist in her role as its President and Chief Compliance Officer. Ms. Hussey earned a Bachelor of Liberal Studies in Sculpture & Writing from Sarah Lawrence College in 2001. Additional information regarding Ms. Hussey’s employment history is included below. Employment History: President and Chief Compliance Officer, Modernist Financial, LLC 07/2015 to Present Investment Advisor Representative, Rosenbaum Financial Inc. 04/2014 to 07/2015 Insurance Agent, Ameritas Life Insurance Corp. 04/2014 to 06/2015 Registered Representative, Ameritas Investment Corp. 04/2014 to 06/2015 Registered Representative, Wells Fargo Advisors, LLC 08/2011 to 03/2014 Owner, GLH Financial Planning LLC 03/2011 to 08/2011 Studio Account Executive, Design Within Reach 10/2005 to 02/2011 CERTIFIED FINANCIAL PLANNER™ (“CFP®”) The CERTIFIED FINANCIAL PLANNER™, CFP® and federally registered CFP® (with flame design) marks (collectively, the “CFP® marks”) are professional certification marks granted in the United States by Certified Financial Planner Board of Standards, Inc. (“CFP® Board”). The CFP® certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold CFP® certification. It is recognized in the United States and a number of other countries for its (1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical requirements that govern professional engagements with clients. Currently, more than 71,000 individuals have obtained CFP® certification in the United States. To attain the right to use the CFP® marks, an individual must satisfactorily fulfill the following requirements: ● Education – Complete an advanced college-level course of study addressing the financial planning subject areas that CFP® Board’s studies have determined as necessary for the competent and professional delivery of financial planning services, and attain a Bachelor’s Degree from a regionally accredited United States college or university (or its equivalent from a foreign university). CFP® Board’s financial planning subject areas include insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning; ● Examination – Pass the comprehensive CFP® Certification Examination. The examination includes case studies and client scenarios designed to test one’s ability to correctly diagnose financial planning issues and apply one’s knowledge of financial planning to real world circumstances; ● Experience – Complete at least three years of full-time financial planning-related experience (or the equivalent, measured as 2,000 hours per year); and ● Ethics – Agree to be bound by CFP® Board’s Standards of Professional Conduct, a set of documents outlining the ethical and practice standards for CFP® professionals. Individuals who become certified must complete the following ongoing education and ethics requirements in order to maintain the right to continue to use the CFP® marks: ● Continuing Education – Complete 30 hours of continuing education hours every two years, including two hours on the Code of Ethics and other parts of the Standards of Professional Conduct, to maintain competence and keep up with developments in the financial planning field; and Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  ● Ethics – Renew an agreement to be bound by the Standards of Professional Conduct. The Standards prominently require that CFP® professionals provide financial planning services at a fiduciary standard of care. This means CFP® professionals must provide financial planning services in the best interests of their clients. CFP® professionals who fail to comply with the above standards and requirements may be subject to CFP® Board’s enforcement process, which could result in suspension or permanent revocation of their CFP® certification. ITEM 3 – DISCIPLINARY INFORMATION Securities laws require an advisor to disclose any instances where the advisor or its advisory persons have been found liable in a legal, regulatory, civil or arbitration matter that alleges violation of securities and other statutes; fraud; false statements or omissions; theft, embezzlement or wrongful taking of property; bribery, forgery, counterfeiting, or extortion; and/or dishonest, unfair or unethical practices. There are no legal, civil or disciplinary events to disclose regarding Ms. Hussey. However, we do encourage you to independently view the background of Ms. Hussey on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with her full name or her Individual CRD# 5966642. ITEM 4 – OTHER BUSINESS ACTIVITIES Board Member Ms. Hussey is also a Board Member for Oregon Humanities, a non-profit 501(c)(3) company that connects people and communities through conversation, storytelling, and participatory programs to inspire understanding and collaborative change. ITEM 5 – ADDITIONAL COMPENSATION Ms. Hussey has no additional business activities where compensation is received. ITEM 6 – SUPERVISION Ms. Hussey serves as the President and Chief Compliance Officer of Modernist. Ms. Hussey can be reached at 971-544-7417. Modernist has implemented a Code of Ethics and internal compliance that guide each Supervised Person in meeting their fiduciary obligations to Clients of Modernist. Further, Modernist is subject to regulatory oversight by various agencies. These agencies require registration by Modernist and its Supervised Persons. As a registered entity, Modernist is subject to examinations by regulators, which may be announced or unannounced. Modernist is required to periodically update the information provided to these agencies and to provide various reports regarding the business activities and assets of the Advisor. Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  FORM ADV PART 2B – BROCHURE SUPPLEMENT For Alejandra Peña Client Experience Lead Effective: March 18, 2026 This Form ADV 2B (“Brochure Supplement”) provides information about the background and qualifications of Alejandra Pena (CRD# 7872491) in addition to the information contained in the Modernist Financial, LLC (“Modernist” or the “Advisor”, CRD# 217511) Disclosure Brochure. If you have not received a copy of the Disclosure Brochure or if you have any questions about the contents of the Modernist Disclosure Brochure or this Brochure Supplement, please contact us at (971) 544-7417 or by email at teammodernist@gmail.com. Additional information about Mrs. Pena is available on the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with her full name or her Individual CRD# 7872491. Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  Item 2 – Educational Background and Business Experience Alejandra Peña, born in 1987, is dedicated to advising Clients of Modernist as a Client Experience Lead. Mrs. Peña earned a Bachelor of Arts from Reed College in 2009. Mrs. Peña also earned a Master of Business Administration/Master of Public Administration from Presidio Graduate School in 2021. Additional information regarding Mrs. Peña’s employment history is included below. Employment History: Client Experience Lead, Modernist Financial, LLC 11/2021 to Present Business and Finance Manager, B-line Urban Delivery 06/2020 to 11/2021 Program and Operations Officer, Karuna Foundation 12/2010 to 12/2018 Item 3 – Disciplinary Information There are no legal, civil or disciplinary events to disclose regarding Mrs. Peña. Mrs. Peña has never been involved in any regulatory, civil or criminal action. There have been no client complaints, lawsuits, arbitration claims or administrative proceedings against Mrs. Peña. Securities laws require an advisor to disclose any instances where the advisor or its advisory persons have been found liable in a legal, regulatory, civil or arbitration matter that alleges violation of securities and other statutes; fraud; false statements or omissions; theft, embezzlement or wrongful taking of property; bribery, forgery, counterfeiting, or extortion; and/or dishonest, unfair or unethical practices. As previously noted, there are no legal, civil or disciplinary events to disclose regarding Mrs. Peña. However, we do encourage you to independently view the background of Mrs. Peña on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with her full name or her Individual CRD# 7872491. Item 4 – Other Business Activities Mrs. Peña is dedicated to the investment advisory activities of Modernist’s Clients. Mrs. Peña does not have any other business activities. Item 5 – Additional Compensation Mrs. Peña is dedicated to the investment advisory activities of Modernist’s Clients. Mrs. Peña does not receive any additional forms of compensation. Item 6 – Supervision Mrs. Peña serves as a Client Experience Lead of Modernist and is supervised by Georgia Hussey, the Chief Compliance Officer. Ms. Hussey can be reached at (971) 544-7417. Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  Modernist has implemented a Code of Ethics, an internal compliance document that guides each Supervised Person in meeting their fiduciary obligations to Clients of Modernist. Further, Modernist is subject to regulatory oversight by various agencies. These agencies require registration by Modernist and its Supervised Persons. As a registered entity, Modernist is subject to examinations by regulators, which may be announced or unannounced. Modernist is required to periodically update the information provided to these agencies and to provide various reports regarding the business activities and assets of the Advisor. Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  FORM ADV PART 2B – BROCHURE SUPPLEMENT For Bernard M. Tan Client Experience Lead Effective: March 18, 2026 This Form ADV 2B (“Brochure Supplement”) provides information about the background and qualifications of Bernard M. Tan (CRD# 7881938) in addition to the information contained in the Modernist Financial, LLC (“Modernist” or the “Advisor”, CRD# 217511) Disclosure Brochure. If you have not received a copy of the Disclosure Brochure or if you have any questions about the contents of the Modernist Disclosure Brochure or this Brochure Supplement, please contact us at (971) 544-7417 or by email at teammodernist@gmail.com. Additional information about Mr. Tan is available on the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with his full name or his Individual CRD# 7881938. Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  Item 2 – Educational Background and Business Experience Bernard M. Tan, born in 1977, is dedicated to advising Clients of Modernist as a Client Experience Lead. Mr. Tan earned a BS, Electrical Engineering from Worcester Polytechnic Institute in 2000. Mr. Tan also earned an MS, Engineering Management from Tufts University in 2011. Additional information regarding Mr. Tan’s employment history is included below. Employment History: Client Experience Lead, Modernist Financial, LLC 11/2021 to Present Sales Consultant, Acura of Portland 10/2017 to 11/2021 eCommerce Consultant, Foodscout, Inc. 01/2011 to 07/2017 Item 3 – Disciplinary Information There are no legal, civil or disciplinary events to disclose regarding Mr. Tan. Mr. Tan has never been involved in any regulatory, civil or criminal action. There have been no client complaints, lawsuits, arbitration claims or administrative proceedings against Mr. Tan. Securities laws require an advisor to disclose any instances where the advisor or its advisory persons have been found liable in a legal, regulatory, civil or arbitration matter that alleges violation of securities and other statutes; fraud; false statements or omissions; theft, embezzlement or wrongful taking of property; bribery, forgery, counterfeiting, or extortion; and/or dishonest, unfair or unethical practices. As previously noted, there are no legal, civil or disciplinary events to disclose regarding Mr. Tan. However, we do encourage you to independently view the background of Mr. Tan on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with his full name or his Individual CRD# 7881938. Item 4 – Other Business Activities Mr. Tan is dedicated to the investment advisory activities of Modernist’s Clients. Mr. Tan does not have any other business activities. Item 5 – Additional Compensation Mr. Tan is dedicated to the investment advisory activities of Modernist’s Clients. Mr. Tan does not receive any additional forms of compensation. Item 6 – Supervision Mr. Tan serves as a Client Experience Lead of Modernist and is supervised by Georgia Hussey, the Chief Compliance Officer. Ms. Hussey can be reached at (971) 544-7417. Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  Modernist has implemented a Code of Ethics, an internal compliance document that guides each Supervised Person in meeting their fiduciary obligations to Clients of Modernist. Further, Modernist is subject to regulatory oversight by various agencies. These agencies require registration by Modernist and its Supervised Persons. As a registered entity, Modernist is subject to examinations by regulators, which may be announced or unannounced. Modernist is required to periodically update the information provided to these agencies and to provide various reports regarding the business activities and assets of the Advisor. Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  PRIVACY POLICY Effective: March 18, 2026 Our Commitment to You Modernist Financial, LLC (“Modernist” or the “Advisor”) is committed to safeguarding the use of personal information of our Clients (also referred to as “you” and “your”) that we obtain as your Investment Advisor, as described here in our Privacy Policy (“Policy”). Our relationship with you is our most important asset. We understand that you have entrusted us with your private information, and we do everything that we can to maintain that trust. Modernist (also referred to as "we", "our" and "us”) protects the security and confidentiality of the personal information we have and implements controls to ensure that such information is used for proper business purposes in connection with the management or servicing of our relationship with you. Modernist does not sell your non-public personal information to anyone. Nor do we provide such information to others except for discrete and reasonable business purposes in connection with the servicing and management of our relationship with you, as discussed below. Details of our approach to privacy and how your personal non-public information is collected and used are set forth in this Policy. Why you need to know? Registered Investment Advisors (“RIAs”) must share some of your personal information in the course of servicing your account. Federal and State laws give you the right to limit some of this sharing and require RIAs to disclose how we collect, share, and protect your personal information. What information do we collect from you? Social security or taxpayer identification number Assets and liabilities Name, address and phone number[s] Income and expenses E-mail address[es] Investment activity Account information (including other institutions) Investment experience and goals What Information do we collect from other sources? Custody, brokerage and advisory agreements Account applications and forms Other advisory agreements and legal documents Investment questionnaires and suitability documents Transactional information with us or others Other information needed to service account How do we protect your information? Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417  To safeguard your personal information from unauthorized access and use we maintain physical, procedural and electronic security measures. These include such safeguards as secure passwords, encrypted file storage and a secure office environment. Our technology vendors provide security and access control over personal information and have policies over the transmission of data. Our associates are trained on their responsibilities to protect Client’s personal information. We require third parties that assist in providing our services to you to protect the personal information they receive from us. How do we share your information? An RIA shares Client personal information to effectively implement its services. In the section below, we list some reasons we may share your personal information. Yes No Servicing our Clients We may share non-public personal information with non-affiliated third parties (such as administrators, brokers, custodians, regulators, credit agencies, other financial institutions) as necessary for us to provide agreed upon services to you, consistent with applicable law, including but not limited to: processing transactions; general account maintenance; responding to regulators or legal investigations; and credit reporting. No Not Shared Marketing Purposes Modernist does not disclose, and does not intend to disclose, personal information with non-affiliated third parties to offer you services. Certain laws may give us the right to share your personal information with financial institutions where you are a customer and where Modernist or the client has a formal agreement with the financial institution. We will only share information for purposes of servicing your accounts, not for marketing purposes. Yes Yes Authorized Users Your non-public personal information may be disclosed to you and persons that we believe to be your authorized agent[s] or representative[s]. No Not Shared Information About Former Clients Modernist does not disclose and does not intend to disclose, non-public personal information to non-affiliated third parties with respect to persons who are no longer our Clients. Changes to our Privacy Policy We will send you a copy of this Policy annually for as long as you maintain an ongoing relationship with us. Periodically we may revise this Policy, and will provide you with a revised policy if the changes materially alter the previous Privacy Policy. We will not, however, revise our Privacy Policy to permit the sharing of non-public personal information other than as described in this notice unless we first notify you and provide you with an opportunity to prevent the information sharing. Any Questions? You may ask questions or voice any concerns, as well as obtain a copy of our current Privacy Policy by contacting us at 971-544-7417or via email at team@modernistfinancial.com. Modernist Financial, LLC 707 SW Washington Street, Suite 910, Portland, OR 97205 Phone: 971-544-7417