ROFFMAN MILLLER ASSOCIATES INC

IARD/CRD No: 106019 SEC File No.: 801- 38491 2/18/2025 Roffman Miller Associates Inc. From ADV Part 2A Brochure 2/18/2025 ADV Part 2 Brochure This brochure provides information about the qualifications and business practices of Roffman Miller Associates Inc. If you have any questions about the contents of this brochure, please contact us at 215- 981-1030 or info@roffmanmiller.com. The information in this brochure has not been approved or verified by the United States Securities and Exchange Commission or by any state securities authority. Additional information about Roffman Miller Associates, Inc. is also available on the SEC’s website at www.adviserinfo.sec.gov. The searchable IARD/CRD number for Roffman Miller Associates Inc. is 106019. Roffman Miller Associates Inc. is a Registered Investment Adviser. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. 1835 Market Street, Suite 500 Philadelphia, PA 19103 215-981-1030 215-981-0146(fax) www.roffmanmiller.com info@roffmanmiller.com 0 | P a g e  IARD/CRD No: 106019 SEC File No.: 801- 38491 2/18/2025 Roffman Miller Associates Inc. From ADV Part 2A Brochure ITEM 2 Material Changes There are no material changes. ITEM 5 Fees and Compensation Updated fee dispersions.  IARD/CRD No: 106019 SEC File No.: 801- 38491 2/18/2025 Roffman Miller Associates Inc. From ADV Part 2A Brochure Table of Contents ADVISORY BUSINESS ............................................................................................................................. 1 FEES AND COMPENSATION ................................................................................................................... 3 PERFORMCANCE-BASED FEES AND SIDE-BY-SIDE MANAGEMENT ....................................................... 5 TYPES OF CLIENTS ................................................................................................................................. 5 METHODS OF ANALYSIS, INVESTMENT STRATEGIES and RISK OF LOSS ............................................... 6 DISCIPLINARY INFORMATION ............................................................................................................... 8 OTHER FINANCIAL INDUSTRY ACTIVITIES AND AFFLIATIONS ............................................................... 8 CODE OF ETHICS, PARTICIPATION OR INTEREST IN CLIENT TRANSACTIONS AND PERSONAL TRADING .............................................................................................................................................................. 8 BROKERAGE PRACTICES ........................................................................................................................ 9 REVIEW OF ACCOUNTS ....................................................................................................................... 11 CLIENT REFERRALS AND OTHER COMPENSATION .............................................................................. 12 CUSTODY ............................................................................................................................................. 13 INVESTMENT DISCRETION .................................................................................................................. 14 VOTING CLIENT SECURITIES ................................................................................................................ 14 FINANCIAL INFORMAITON .................................................................................................................. 15  IARD/CRD No: 106019 SEC File No.: 801- 38491 2/18/2025 Roffman Miller Associates Inc. From ADV Part 2A Brochure ADVISORY BUSINESS Form ADV Part 2A, Item 4 Principals and Incorporation Roffman Miller was incorporated in 1990 and opened its doors to its first client in July of 1991. Our principal owners are Robert Hofmann, Paulette Greenwell, and Mark Frombach. Currently 11 of our 19 employees own shares in our firm. We are headquartered in Philadelphia, PA. Our investment team share a vision of personalized portfolio management and sound financial discipline. Advisory Services Our primary business is to provide discretionary investment management for our clients. We include in our advisory services financial planning. We follow an investment strategy that focuses on meeting long-term goals and reducing volatility of returns. This is achieved by identifying client objectives, adhering to a high- quality investment selection process, and diversification of securities and asset classes. As each individual has varying goals, obligations and risk factors, our team listens and takes a customized approach to our clients’ portfolios. For marketing purposes, we may show prospects sample client portfolios. They are for illustration only; each client portfolio is tailored to the needs of that specific client. We typically utilize individual stocks and bonds and occasionally mutual funds and ETF’s in our portfolios. While our investments are generally purchased for the long-term (three to five years), we will, in appropriate circumstances, engage in short-term purchases (securities sold within one year) and trading (securities sold within 30 days). We will allow clients to hold legacy positions or certain self-directed securities. This will be part of the interview and building of the investment plan. Please Note: Retirement Rollovers-Potential for Conflict of Interest: A client or prospective client leaving an employer typically has four options regarding an existing retirement plan (and may engage in a combination of these options): (i) leave the money in the former employer’s plan, if permitted, (ii) roll over the assets to the new employer’s plan, if one is available and rollovers are permitted, (iii) roll over to an Individual Retirement Account (“IRA”), or (iv) cash out the account value (which could, depending upon the client’s age, result in adverse tax consequences). If Roffman Miller recommends that a client roll over their retirement plan assets into an account to be managed by Roffman Miller, such a recommendation creates a conflict of interest if Roffman Miller will earn new (or increase its current) compensation as a result of the rollover. If Roffman Miller provides a recommendation as to whether a client should engage in a rollover or not (whether it is from an employer’s plan or an existing IRA), Roffman Miller is acting as a fiduciary within the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. No client is under any obligation to roll over retirement plan assets to an account managed by Roffman Miller, whether it is from an employer’s plan or an existing IRA. Roffman Miller’s Chief Compliance Officer, Paulette Greenwell, remains available to address any questions that a client or prospective client may have regarding the potential for conflict of interest presented by such rollover recommendation. All options for rollovers, whether from an employer or like to like transfers, will be discussed with the client or prospective client and documented. A recommendation once given can be either accepted or not, but in 1 | P a g e  IARD/CRD No: 106019 SEC File No.: 801- 38491 2/18/2025 Roffman Miller Associates Inc. From ADV Part 2A Brochure either case signed off on by the client or prospective client. Discussions should include but are not limited to, services offered, fees and expenses and investment options. Specifically for employer plan rollovers, certain legal and operational issues need to be reviewed. All erisa accounts are treated the same as non-erisa accounts. Account Management We see outstanding customer service as our priority, and we take pride in providing personalized service and extensive client communication. We conduct a client interview as a means of building a profile, looking at a number of factors including goals, history, need for income and risk threshold. Members of the Investment Committee discuss the profile and evaluate the optimum investment strategy on an individual basis. Portfolios are managed by members of the Investment Committee. Investment Managers are assigned to each client and are responsible for placing trades and conducting reviews. With a combination of meetings, written reports and informal discussions, we keep clients apprised of their portfolio. Such on-going communication allows us to monitor changing client needs and circumstances so we may make any appropriate adjustments. In addition to traditional money management, our team acts as a partner and counsels our clients on any financial questions or concerns. Assets Under Management As of December 31, 2024, Roffman Miller managed $2,895,159,684 in assets. • $2,866,235,591 in discretionary assets • $28,924,093 in non-discretionary assets See “Investment Discretion” for an explanation of discretionary and non-discretionary management. We have another $3,954,877 in assets under advisement. 2 | P a g e  IARD/CRD No: 106019 SEC File No.: 801- 38491 2/18/2025 Roffman Miller Associates Inc. From ADV Part 2A Brochure FEES AND COMPENSATION Form ADV Part 2A, Item 5 Fee Schedule For our services as an investment advisor, we charge a percentage of the assets under management. The annual fees are paid quarterly and will be based on the market value of the Portfolio at the end of each quarter, March, June, September, and December. Pricing of assets is done through reputable broker/dealer(s). If for some reason we feel any security is not being fairly priced, we have procedures for price overrides. For clients with Bonds, fees include accrued interest. Roffman Miller’s portfolio management software may calculate accrued interest differently than your Broker Dealer. All fees are subject to review and revision at any time. All fees are negotiable on an individual basis. All management fees are paid three months in advance. Clients may end their contracts at any time. The client will get a pro-rated refund. We do reserve the right to charge additional fees for any work completed after the termination date. Fees will be applied daily as per the original fee schedule. Such services include, but are not limited to executing trades, facilitating transfers, and calculating and providing cost basis and tax information. Existing clients opening new accounts will be billed using the fee schedule agreed upon at the beginning of the relationship. Fee Dispersion Roffman Miller, in its discretion, may charge a lesser investment advisory fee, charge a flat fee, or waive its asset minimum, 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, complexity of the engagement, anticipated services to be rendered, grandfathered fee schedules, employees and family members, courtesy accounts, competition, negotiations with client, etc.). Please Note: As a result of the above, similarly situated clients could pay different fees. In addition, similar advisory services may be available from other investment advisers for similar or lower fees. Please Also Note: Conflict of Interest. Because Roffman Miller, per the above fee schedules, earns a higher fee for management of equity portfolios, it has an economic incentive to allocate more of the client’s assets to the higher paying asset class. ANY QUESTIONS: Roffman Miller’s Chief Compliance Officer, Paulette Greenwell, remains available to address any questions that a client or prospective client may have regarding advisory fees, and conflict of interest. As of November 1st, 2006, management fees will be computed in accordance with the following schedules: Equities & Structured Products 1.00% First $2.0 Million 0.75% Next $5.0 Million Negotiable Thereafter Fixed Income 0.50% First $5.0 Million Negotiable Thereafter Mutual Funds 0.75% First $5.0 Million Negotiable Thereafter Cash and Cash Equivalents are excluded. 3 | P a g e  IARD/CRD No: 106019 SEC File No.: 801- 38491 2/18/2025 Roffman Miller Associates Inc. From ADV Part 2A Brochure Management fees for accounts opened from August 1st, 2005, until October 31st, 2006 are computed in accordance with the following schedules. Equities/Balanced 1.00% First $1.0 Million 0.75% Next $1.5 Million 0.50% Next $5.0 Million Negotiable Thereafter Taxable Fixed Income 0.50% First $5.0 Million Negotiable Thereafter Municipal Fixed Income 0.375% First $5.0 Million Negotiable Thereafter Mutual Funds 0.50% First $5.0 Million Negotiable Thereafter Management fees for accounts opened from 1990 until July 31st, 2005 are computed in accordance with the following schedule. Equities/Balanced 1.00% First $1.0 Million 0.75% Next $1.5 Million 0.50% Next $4.0 Million 0.40% Above $6.5 Million Most clients have their fees deducted directly from their brokerage accounts. Fees are deducted four times a year; April, July, October and January. It is the client’s responsibility to verify the accuracy of the management fee calculation. The Broker/Dealer will not determine whether the fee is properly calculated. Additional Fees In addition to the management fee the client may incur certain brokerage fees: commissions to purchase securities and certain mutual funds. These prices are set by the broker/dealer and may be higher than the retail rate charged as a result of services provided by the broker/dealer. (See Brokerage Practices) Roffman Miller will attempt to negotiate rates for our clients. A Prime Brokerage fee of $25 is charged to purchase bonds away from Charles Schwab. Mutual Funds also charge management fees. When Roffman Miller selects a mutual fund for clients the management fee charged by the fund is a consideration. When possible, we choose institutional funds whose management fees are lower. We do not buy funds that have a sales charge. A schedule of fees charged by the funds is available upon request. Miscellaneous fees to overnight or wire funds, issue securities, etc. may also be charged by the broker. We do not participate in any of these fees. ERISA clients’ rates are the same as any other client; there are no extra charges or fees. 4 | P a g e  IARD/CRD No: 106019 SEC File No.: 801- 38491 2/18/2025 Roffman Miller Associates Inc. From ADV Part 2A Brochure PERFORMCANCE-BASED FEES AND SIDE-BY-SIDE MANAGEMENT Form ADV Part 2A, Item 6 We do not charge any performance-based fees. (See “Fees and Compensation”) TYPES OF CLIENTS Form ADV Part 2A, Item 7 Our clients consist of high-net-worth individuals, individuals, pension and profit-sharing plans, trusts, estates, charitable organizations, and corporations. Our minimum account size is $500,000, although we may in certain situations take smaller accounts. 5 | P a g e  IARD/CRD No: 106019 SEC File No.: 801- 38491 2/18/2025 Roffman Miller Associates Inc. From ADV Part 2A Brochure METHODS OF ANALYSIS, INVESTMENT STRATEGIES and RISK OF LOSS Form ADV Part 2A, Item 8 Each portfolio is managed in accordance with the goals and risk tolerances of the individual client. Some of the goals and constraints we evaluate are risk, return, taxes, time horizon, liquidity needs, legal issues, and unique circumstances. An asset allocation target, equites vs fixed income and occasionally cash, is used to help in managing the portfolio(s), in most cases there is flexibility in the targets on either side, depending on the client and market conditions. Our portfolios are mostly invested in stocks, bonds, ETF’s and mutual funds. In all cases, there are risks of temporary or permanent loss on investments due to poor economic conditions, corporate bankruptcies, and other unforeseen situations. We believe risk can be reduced in the portfolios by allocating monies to different asset classes, owning a diversified portfolio, and also by careful investment selection. The paragraphs below describe in more detail how we select these investments. Research The Investment Committee conducts its own research using all the data sources available to it. Our team also understands the importance of going out and “kicking the tires,” and makes it a practice to have on- going contact with company management, as much of it face-to-face as practicable, to understand their businesses. Additionally, we solicit independent research opinions from several outside sources to assist in our decisions. Our research focuses on: • Identifying quality companies with a superior management team, clear plan for success, proven track record and whose focus is on increasing shareholder value over the long term. • Recognizing companies with favorable valuations based on such financial measures as • profits, book value and cash flow. Industry leaders with a competitive advantage in size, price, intellectual property, technology, geography or high barriers to entry. • Selecting companies that not only have financial strength with solid sales earnings and appropriate levels of debt, but also those which can persevere and take advantage of opportunities that occur during difficult economic environments. Our commitment to research and analysis does not stop once a company is identified or selected. We pay close attention to and monitor each company’s progress. Common Stock Management Investing in quality companies which have superior management is the cornerstone of our investment philosophy. Using the information gained from our fundamental analysis and in-depth client interview, we select the most ideal companies from our potential list of investment candidates. We invest in stocks of established companies that we feel are currently undervalued and those with the potential to increase shareholder value over time. In keeping with our guiding principles, our sell discipline is based on value and fundamentals. We look to sell when: 6 | P a g e  IARD/CRD No: 106019 SEC File No.: 801- 38491 2/18/2025 Roffman Miller Associates Inc. From ADV Part 2A Brochure • The security reaches a price indicating the potential for continued price appreciation may be limited. • Our fundamental reasons for owning the stock have changed. • The individual stock is greater than 10% of the stock portfolio. Diversification is important and we view it in terms of both company and industry investments. Our typical equity accounts have between thirty and fifty stocks. We do not initially invest more than five percent in one stock or twenty percent in one industry to avoid undue risk. Fixed Income Management We invest in a diverse mix of fixed income investments including individual bonds, taxable and tax- exempt; fixed income funds, ETFs, and closed-end funds of varying assets and management styles; and non-traditional fixed income investments like preferred stock to create a broadly diversified fixed income portfolio to accomplish two primary goals: • Current Income & Liquidity– Help meet the cash flow needs of our clients primarily by generating a level of interest income equal with capital preservation and price stability. • Portfolio Diversification – Fixed income investments serve well as a hedge against equity market risk, reducing overall portfolio volatility and smoothing out the total long-term return of a portfolio. While looking to accomplish our primary goals, we take strides in managing the risk side of our fixed income portfolios as we do in our stock portfolios. There are many different types of risks involved in fixed income investing to consider but the two primary concerns of ours are typically: • Interest Rate Risk – The price volatility of a fixed income investment or portfolio as it relates to changes in market interest rates. • Credit Risk – The risk that a bond issuer will not be able to meet the interest and principal payments as scheduled and agreed upon in the bond offering. To manage the risks involved with fixed income investing we: Ladder the bonds to have maturities coming due annually. • • Broadly diversify portfolios by the type of assets, management style and security. • Set individual position sizes relative to the size of the portfolio thereby limiting the effect of even the worst-case scenario for any given position. • We do not take “bets” on any given interest rate scenario that would involve over-allocating a portfolio to benefit from a specific market outcome. In general, we seek to preserve capital and generate income and returns in-line with prevailing market conditions while understanding historical value in the fixed income markets. Although we purchase investment grade bonds, there are instances where holdings are subsequently downgraded to non- investment grade status during our holding period. We may choose to sell or hold those positions depending on the circumstances in each case. Mutual Fund and ETF Management Mutual funds invest in diversified pools of stocks, bonds, or other securities. We look for mutual fund managers that have proven track records and that are willing to communicate their strategy to us and are also available to speak with us and provide updates from time to time. When looking for ETF’s liquid funds with low fees are a priority. 7 | P a g e  IARD/CRD No: 106019 SEC File No.: 801- 38491 2/18/2025 Roffman Miller Associates Inc. From ADV Part 2A Brochure DISCIPLINARY INFORMATION Form ADV Part 2A, Item 9 There are no disciplinary events. OTHER FINANCIAL INDUSTRY ACTIVITIES AND AFFLIATIONS Form ADV Part 2A, Item 10 Neither Roffman Miller nor its employees engage in any other financial industry or business activities or have any other industry affiliations. Roffman Miller does not recommend or select other investment advisors for its clients. CODE OF ETHICS, PARTICIPATION OR INTEREST IN CLIENT TRANSACTIONS AND PERSONAL TRADING Form ADV Part 2A, Item 11 Pursuant to SEC rule 204A-1, we have a code of ethics policy. The basic principle of this policy is that; since our clients place their trust in us, we have not only a fiduciary responsibility but an ethical responsibility to behave with the utmost integrity and honesty. Before we do anything the question, “Is this in the best interest of the Client?” should be foremost in our thoughts. Some employees of the firm are either CFA Charter holders or Certified Financial Planners and are bound by those organizations’ Codes of Ethics. See the Roffman Miller Supplemental Brochure. Because our investment strategy is to evaluate and invest in companies on a long-term basis, employees may purchase securities which are recommended to clients. There are restrictions placed on employees as far as the timing of buying and/or selling of securities. These restrictions depend on the type of security, the rating, the size and if the Chief investment Officer or Investment Committee states any other reason for a particular security. Personal accounts of the employee include all accounts for family members living within the employee’s household and accounts over which the employee has authority even though the account owner does not live within the same household as the employee. Employees are required to report on a quarterly basis securities transactions and holdings for all accounts in which the employee has a direct or indirect beneficial ownership interest. This includes personal securities information of any family member living within the same household as the employee. It is further noted that the firm and its employees shall comply with the Insider Trading and Securities Fraud Enforcement Act of 1998. We forbid any officer, director, or employee from trading, either personally or on behalf of others, (such as, mutual funds and private accounts managed by Roffman Miller Associates, Inc.) on material nonpublic information or communicating material nonpublic information 8 | P a g e  IARD/CRD No: 106019 SEC File No.: 801- 38491 2/18/2025 Roffman Miller Associates Inc. From ADV Part 2A Brochure to others in violation of the law. This conduct is frequently referred to as “insider trading”. Our policy applies to every officer, director and employee and extends to activities within and outside their duties at Roffman Miller Associates, Inc. Additional information on these policies is available upon request. BROKERAGE PRACTICES Form ADV Part 2A, Item 12 Products and Services Available to us from Schwab Advisor Services™ is Schwab’s business serving independent investment advisory firms like us. They provide us and our clients with access to its institutional brokerage—trading, custody, reporting, and related services—many of which are not typically available to Schwab retail customers. Schwab also makes available various support services. Some of those services help us manage or administer our clients’ accounts; while others help us manage and grow our business. Schwab’s support services generally are available on an unsolicited basis (we don’t have to request them) and at no charge to us as long as our clients collectively maintain a total of at least $10 million of their assets in accounts at Schwab. If our clients collectively have less than $10 million in assets at Schwab, Schwab may charge us quarterly service fees of $1,200. Services That Benefit You Schwab’s institutional brokerage services include access to a broad range of investment products, execution of securities transactions, and custody of client assets. The investment products available through Schwab include some to which we might not otherwise have access or that would require a significantly higher minimum initial investment by our clients. Services That May Not Directly Benefit You Schwab also makes available to us other products and services that benefit us but may not directly benefit you or your account. These products and services assist us in managing and administering our clients’ accounts. They include investment research, both Schwab’s own and that of third parties. We may use this research to service all or a substantial number of our clients’ accounts, including accounts not maintained at Schwab. In addition to investment research, Schwab also makes available software and other technology that: • Provide access to client account data (such as duplicate trade confirmations and account statements) • Facilitate trade execution and allocate aggregated trade orders for multiple client accounts • Provide pricing and other market data • Facilitate payment of our fees from our clients’ accounts • Assist with back-office functions, recordkeeping, and client reporting Services That Generally Benefit Only Us Schwab also offers other services intended to help us manage and further develop our business enterprise. These services include: • Educational conferences and events • Consulting on technology, compliance, legal, and business needs • Publications and conferences on practice management and business succession • Access to employee benefits providers, human capital consultants, and insurance providers Schwab may provide some of these services itself. In other cases, it will arrange for third-party vendors to provide the services to us. Schwab may also discount or waive its fees for some of these services or pay 9 | P a g e  IARD/CRD No: 106019 SEC File No.: 801- 38491 2/18/2025 Roffman Miller Associates Inc. From ADV Part 2A Brochure all or a part of a third party’s fees. Schwab may also provide us with other benefits, such as occasional business entertainment of our personnel. Our Interest in Schwab’s Service The availability of these services from Schwab benefits us because we do not have to produce or purchase them. We do not have to pay for Schwab’s services so long as our clients collectively keep a total of at least $10 million of their assets in accounts at Schwab. Beyond that, these services are not contingent upon us committing any specific amount of business to Schwab in trading commissions or assets in custody. The $10 million minimum may give us an incentive to recommend that you maintain your account with Schwab, based on our interest in receiving Schwab’s services that benefit our business rather than based on your interest in receiving the best value in custody services and the most favorable execution of your transactions. This is a potential conflict of interest. We believe, however, that our selection of Schwab as custodian and broker is in the best interests of our clients. We have used Charles Schwab as our primary custodian/broker dealer since we first opened our doors. They were the only discount broker offering this service, since then we have grown together. We have investigated other services but have not found any that we like better or had more to offer. Our selection is primarily supported by the scope, quality, and price of Schwab’s services (see “How We Select Brokers/Custodians”) and not Schwab’s services that benefit only us. We have over $1,500,000,000 in client assets at Schwab, and do not believe that recommending our clients to collectively maintain at least $10 million of those assets at Schwab in order to avoid paying Schwab quarterly service fees presents a material conflict of interest. We also participate in and receive benefits from the Schwab Advisor Network program. See Client Referrals and other Compensation, for information on this program. We do not maintain custody of the assets that we manage although we may be deemed to have custody of your assets if you give us authority to withdraw assets from your account (see “Custody”). Your assets must be maintained in an account at a “qualified custodian,” generally a broker dealer or bank. We recommend that our clients use Charles Schwab & Co., Inc. (Schwab), a registered broker-dealer, member SIPC, as the qualified custodian. We are independently owned and operated and are not affiliated with Schwab. Schwab will hold your assets in a brokerage account and buy and sell securities when we instruct them to. While we recommend that you use Schwab as a custodian/broker, you will decide whether to do so and will open your account with Schwab by entering into an account agreement directly with them. We do not open the account for you, although we may assist you in doing so. Even though your account is maintained at Schwab, we can still use other brokers to execute trades for your account as described below (see “Your Brokerage and Custody Costs”). We seek to use a custodian/broker who will hold your assets and execute transactions on terms that are, overall, most advantageous when compared to other available providers and their services. We primarily use Charles Schwab as the broker-dealer for all of its clients. We feel Charles Schwab not only provides us with best execution they also have the following characteristics that we feel are necessary in a broker/dealer and custodian: • Good record keeping and excellent back office functions • Knowledge of market, securities and industries • Technological capabilities & infrastructure • Combination of transaction execution services and asset custody services (generally without a separate fee for custody) • Capability to execute, clear, and settle trades (buy and sell securities for your account) • Capability to facilitate transfers and payments to and from accounts (wire transfers, check requests, bill payment, etc.) • Breadth of available investment products (stocks, bonds, mutual funds, exchange-traded funds [ETFs], etc.) • Availability of investment research and tools that assist us in making investment decisions 10 | P a g e  IARD/CRD No: 106019 SEC File No.: 801- 38491 2/18/2025 Roffman Miller Associates Inc. From ADV Part 2A Brochure • Competitiveness of the price of those services (commission rates, margin interest rates, other fees, etc.) and willingness to negotiate the prices • Reputation, financial strength, and stability • Prior service to us and our other clients • Availability of other products and services that benefit us, as discussed below (see “Products and Services Available to Us From Schwab”) The client in the end has the final say and may elect for their account(s) to be held at another custodian. Directed Brokerage From time to time, clients may instruct us to direct trades to a specific broker-dealer in exchange for certain benefits to be received by the client or out of loyalty to the broker. There could be certain limitations associated with these types’ arrangements: 1. The client may forgo any benefit from savings on execution costs that we could obtain for other clients, such as negotiating volume discounts on bunched orders; and 2. The client may not receive the same price or commission paid by other clients who utilize different brokers. As a matter of practice even with client-directed accounts we will make our best efforts to negotiate reduced commission rates when possible. Trade Aggregation We strive to treat all clients in a fair manner. This is the basic principle underlying this aggregation and allocation policy. The allocations of a particular security will be determined by us before the trade is placed with the broker. When practical, client trades in the same security will be bunched in a single order (a “block”) in an effort to obtain best execution at the best security price available. When using a block trade: • We will attempt to fill client orders by day-end. • If the block order is not filled by day-end, the Investment Committee will allocate shares executed to underlying accounts on a pro rata basis, adjusted as necessary to keep client transaction costs to a minimum and in accordance with specific account guidelines. • If a block order is filled (full or partial fill) at several prices through multiple trades, an average price and commission will be used for all trades executed. • All participants receiving securities from the block trade will receive the average price; and only trades executed within the block on the single day may be combined for purposes of calculating the average price. It is expected that this trade aggregation and allocation policy will be applied consistently. However, if application of this policy results in unfair or inequitable treatment to some or all of our clients, we may deviate from this policy. REVIEW OF ACCOUNTS ADV Part 2A, Item 13 Reviews of investments are conducted by members of the investment committee on a daily basis. At a 11 | P a g e  IARD/CRD No: 106019 SEC File No.: 801- 38491 2/18/2025 Roffman Miller Associates Inc. From ADV Part 2A Brochure minimum client accounts are reviewed at length quarterly. Accounts are assigned to a primary manager, but any member of the committee may at one time or another review or discuss a portfolio with a client. The number of clients assigned depends on the experience of the manager, account size and style of investing. The Investment Committee typically meets weekly to ensure we are all up-to-date on what is happening in the markets, our securities, the economy and the world and how it could effect our clients. Factors which might trigger additional reviews include (1) a substantial change in the financial condition or business management of a particular company; (2) a big move in a security either up or down; (3) a substantial change in the economy or market conditions; (4 ) a significant change in clients' objectives; or (5) a deposit or withdrawal of cash. Depending on the client’s advisory agreement we may provide a quarterly report showing all holdings and their current value, income generated by holdings, and cost basis, etc. If you receive statements from both Roffman Miller and Charles Schwab, we urge you to compare the values on both statements to make sure they match. Compare the numbers without accrued interest, as these calcuations may vary. Realized Gains and Losses reports, statements of Management Fees on taxable accounts and various other portfolio reports are available to clients on request. In addition, it is expected that each client will receive confirmations of trades and monthly reports from the broker-dealers who custody their accounts and execute their securites transactions.(see “Custody”) CLIENT REFERRALS AND OTHER COMPENSATION Form ADV Part 2A, Item 14 We periodically use research information provided by broker-dealers with whom we conduct business. However, we do not have any formal agreements to compensate broker-dealers for the receipt of such research information. We as a matter of practice do not compensate broker-dealers for third-party research services (known as “soft dollar arrangements”) with the use of client commissions, any payment required for such research will be made in cash. Charles Schwab We receive an economic benefit from Schwab in the form of the support products and services it makes available to us and other independent investment advisors whose clients maintain their accounts at Schwab. These products and services, how they benefit us, and the related conflicts of interest are described above (see Brokerage Practices). The availability to us of Schwab’s products and services is not based on us giving particular investment advice, such as buying particular securities for our client. We also receive client referrals from Charles Schwab & Co., Inc. (“Schwab”) through our participation in Schwab Advisor Network® (“the Service”). The Service is designed to help investors find an independent investment advisor. Schwab is a broker-dealer independent of and unaffiliated with Roffman Miller Associates. Schwab does not supervise us and has no responsibility for the management of our clients’ portfolios. We pay Schwab fees to receive client referrals through the Service. Our participation in the Service may raise potential conflicts of interest described below. We pay Schwab Participation Fees on all referred clients’ accounts that are maintained in custody at Schwab and a Non-Schwab Custody Fee on all accounts that are maintained at, or transferred to, another custodian. 12 | P a g e  IARD/CRD No: 106019 SEC File No.: 801- 38491 2/18/2025 Roffman Miller Associates Inc. From ADV Part 2A Brochure Participation Fees are a percentage of the value of the assets in the client’s account. We pay Schwab Participation Fees for so long as the referred client’s account remains in custody at Schwab. Participation Fees are billed to us quarterly and may be increased, decreased or waived by Schwab from time to time. Participation Fees are paid by us and not by the client. We do not charge clients referred through the Service fees or costs greater than the fees or costs we charge clients with similar portfolios who were not referred through the Service. We generally pay Schwab a Non-Schwab Custody Fee if custody of a referred client’s account is not maintained by, or assets in the account are transferred from Schwab. This Fee does not apply if the client was solely responsible for the decision not to maintain custody at Schwab. The Non-Schwab Custody Fee is a one-time payment equal to a percentage of the assets placed with a custodian other than Schwab. The Non-Schwab Custody Fee is higher than the Participation Fees Advisor generally would pay in a single year. Thus, we will have an incentive to recommend that client accounts be held in custody at Schwab. The Participation and Non-Schwab Custody Fees are based on the amount of assets in accounts of our clients who were referred by Schwab and those referred clients’ family members living in the same household. Thus, we will have incentives to encourage household members of clients referred through the Service to maintain custody of their accounts at Schwab. For accounts of our clients maintained in custody at Schwab, Schwab generally does not charge the client separately for custody but receives compensation from the client in the form of commissions or other transaction-related compensation on securities trades Schwab executes for the client’s account. Clients also pay Schwab a fee for clearance and settlement of trades executed through broker-dealers other than Schwab. Schwab’s fees for trades executed at other broker-dealers are in addition to the other broker-dealer’s fees. Thus, we may have an incentive to cause trades to be executed through Schwab rather than another broker-dealer. We, nevertheless, acknowledge its duty to seek best execution of trades for client accounts. Trades for client accounts held in custody at Schwab may be executed through a different broker-dealer than trades for our other clients. Thus, trades for accounts custodied at Schwab may be executed at different times and different prices than trades for accounts that are executed at other broker-dealers. We manage accounts for some Charles Schwab employees and/or their family members. This could be a conflict as the Charles Schwab employees are the ones referring us to potential new clients. Solicitors We may pay cash referral fees to either affiliates (such as employees) or unaffiliated entities that directly or indirectly solicit any client for or refer any client to us. For purposes of this policy, affiliated entities include any partner, officer, director or employee of Roffman Miller Associates. Any client referred to us by an unaffiliated solicitor is notified before signing a contract and must acknowledge the arrangement in writing. None of our unaffiliate solicitors provide investment advice to prospective clients, they make introductions only. CUSTODY Form ADV Part 2A, Item 15 Under SEC rules, we are deemed to have custody of clients’ assets if any one of the following is true: authorization to the custodian to deduct advisory fees directly from client accounts; acting as a Trustee on a client account; coming into possession of certain client assets such as stock certificates or by having the authority to make standing third-party distributions for clients. 13 | P a g e  IARD/CRD No: 106019 SEC File No.: 801- 38491 2/18/2025 Roffman Miller Associates Inc. From ADV Part 2A Brochure At this point we are not the Trustees on any client accounts, and we have policies in place to prevent the possession of clients’ physical assets. We do, however, deduct the majority of management fees directly from client accounts and for some clients we have the authority to make standing third-party distributions. Because of this Roffman Miller has custody under the SEC rule. In order to deduct fees or make distributions the client must give written authorization using the custodian’s forms. Clients may make some changes or cancel the instructions through Roffman Miller or directly with the custodian at any time. Roffman Miller may not under any circumstances change the identity of any third party. Changes may require new written authorization. For third party distributions, the custodian will provide the client with a letter at setup detailing the instructions and an annual letter confirming the instructions. Clients will also receive monthly account statements directly from the custodian. The statements will come quarterly if there is no account activity. They will be sent to the email or postal mailing address provided to the custodian. Carefully review the statements promptly when received. Notify Roffman Miller immediately if the custodial statements have not arrived. Depending on the advisory agreement, Roffman Miller may also provide a quarterly report showing all holdings. If this is the case, please compare the custodians’ account statements to the periodic portfolio reports received from Roffman Miller. INVESTMENT DISCRETION Form ADV Part 2A, Item 16 We have investment discretion to manage client’s accounts. Meaning we have the authority to place all orders to purchase and sell securities in accordance with the client’s portfolio and investment objectives and taking into account any contractual restrictions or exceptions. We can also provide investment advice to clients on a non-discretionary basis. Non-discretionary arrangements are made on an individual basis and give us varying amounts of control over investment decisions. Best execution could be affected for non-discretionary accounts. If a non-discretionary client cannot be reached a trade may not be made during the same time frame as other clients, thus affecting price. We will make every effort to contact clients in a reasonable amount of time. VOTING CLIENT SECURITIES Form ADV Part 2A, Item 17 We do not vote proxies for our clients. As stated in the contract, it is the responsibility of the client to vote. Clients will receive proxy voting materials from their Broker Dealer. The proxy materials will come either in paper form or electronically, the same form of delivery chosen for statements and confirms. We will, however, answer any questions or give you advice on voting. 14 | P a g e  IARD/CRD No: 106019 SEC File No.: 801- 38491 2/18/2025 Roffman Miller Associates Inc. From ADV Part 2A Brochure FINANCIAL INFORMAITON Form ADV Part 2A, Item 18 We do not require prepayment of fees more than three months in advance. 15 | P a g e  The Following Investment Committee Members are presented in this Supplement. FORM ADV PART 2B 2/18/2025 BROCHURE SUPPLEMENT ® ® , MBA ® ® ® ® , CDFA Robert Hofmann, CFP Paulette Greenwell, CFA, MBA Mark Frombach, CFA, MBA Susan Arnold Ryan Crooks, MBA Lori Hartman Kevin Cooke, CFP Gerry G. Guertin, ChFC Earl R. Miller, MBA Jeffery Moyers, CFP , MBA Andrew D’Amico, CFA, MBA ® , RICP Peter Gaertner, CFP ® Robert Riegen, CFP , MBA David Gradzki, MBA This brochure provides information about the Roffman Miller Associates, Inc. Investment Committee and supplements The Roffman Miller ADV Part II Brochure. You should have received a copy of that brochure. Please contact us at 215-981-1030 if you did not receive The Roffman Miller ADV Part II Brochure or if you have any questions about the contents of this supplement. Additional information about any Roffman Miller Investment Committee Member is available on the SEC’s website at www.adviserinfo.sec.gov. 1835 Market Street, Ste 500 Philadelphia, PA 19104 215-981-1030 fax 215-981-0146  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Portfolios are managed by the 10 members of the Investment Committee. Investment Managers are assigned to each client and are responsible for placing trades and conducting reviews. The Following sections are included for each Investment Committee Member: • Educational Background and Business Experience • Disciplinary Information • Other Business Activities • Additional Compensation • Supervision  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Robert Thomas Hofmann, CFP® (Bob) President Year of Birth: 1970 Education Background and Business Experience Formal Education after High School: Rider University, Bachelor of Science, Finance, 1992 Business Background: Bob brings extensive financial planning experience to Roffman Miller. After beginning his career as an Investment Advisor with Morgan Stanley, he joined Charles Schwab as an Investment Specialist in 1996. Within three years, he was promoted to manager of the Newtown, PA office. He finished his tenure with Schwab as the manager of the flagship office in center city Philadelphia. Certifications: Certified Financial Planner 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 80,000 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  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning; • Examination – Pass the comprehensive CFP® Certification Examination. The examination, administered in 10 hours over a two-day period, 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 • 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. Disciplinary Information There is no disciplinary information to report. Other Business Activities There are no other business activities. Additional Compensation There is no additional compensation. Supervision Bob does not have a direct supervisor. If you have any questions or comments, please direct them to Mark Frombach or Paulette Greenwell at 215-981-1030.  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Frances Paulette Greenwell, CFA, MBA (Paulette) Vice President & Chief Compliance Officer Year of Birth: 1969 Education Background and Business Experience Formal Education after High School: Temple University, Bachelor of Arts, Sociology, 1991 Drexel University, Master of Business Administration, Finance, 1995 Business Background: Paulette has been with Roffman Associates since 1995, after her graduation from Drexel. Certifications: Chartered Financial Analyst The Chartered Financial Analyst (CFA) charter is a globally respected, graduate-level investment credential established in 1962 and awarded by CFA Institute — the largest global association of investment professionals. There are currently more than 90,000 CFA charterholders working in 135 countries. To earn the CFA charter, candidates must: 1) pass three sequential, six-hour examinations; 2) have at least four years of qualified professional investment experience; 3) join CFA Institute as members; and 4) commit to abide by, and annually reaffirm, their adherence to the CFA Institute Code of Ethics and Standards of Professional Conduct. High Ethical Standards The CFA Institute Code of Ethics and Standards of Professional Conduct, enforced through an active professional conduct program, require CFA charterholders to: • Place their clients’ interests ahead of their own • Maintain independence and objectivity • Act with integrity • Maintain and improve their professional competence • Disclose conflicts of interest and legal matters  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Global Recognition Passing the three CFA exams is a difficult feat that requires extensive study (successful candidates report spending an average of 300 hours of study per level). Earning the CFA charter demonstrates mastery of many of the advanced skills needed for investment analysis and decision making in today’s quickly evolving global financial industry. As a result, employers and clients are increasingly seeking CFA charterholders—often making the charter a prerequisite for employment. Additionally, regulatory bodies in 19 countries recognize the CFA charter as a proxy for meeting certain licensing requirements, and more than 125 colleges and universities around the world have incorporated a majority of the CFA Program curriculum into their own finance courses. Comprehensive and Current Knowledge The CFA Program curriculum provides a comprehensive framework of knowledge for investment decision making and is firmly grounded in the knowledge and skills used every day in the investment profession. The three levels of the CFA Program test a proficiency with a wide range of fundamental and advanced investment topics, including ethical and professional standards, fixed-income and equity analysis, alternative and derivative investments, economics, financial reporting standards, portfolio management, and wealth planning. The CFA Program curriculum is updated every year by experts from around the world to ensure that candidates learn the most relevant and practical new tools, ideas, and investment and wealth management skills to reflect the dynamic and complex nature of the profession. To learn more about the CFA charter, visit www.cfainstitute.org. Disciplinary Information There is no disciplinary information to report. Other Business Activities There are no other business activities. Additional Compensation There is no additional compensation. Supervision Paulette does not have a direct supervisor. If you have any questions or comments, please direct them to Mark Frombach or Bob Hofmann at 215-981-1030.  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Mark Richard Frombach, CFA, MBA Chief Investment Officer Year of Birth: 1968 Education Background and Business Experience Formal Education after High School: Rutgers University, Bachelor of Science, Electrical Engineering, 1988 Rutgers University, Master of Business Administration, Finance, 1995 Business Background: Mark began his career at Nabisco, Inc. followed by extended domestic and international assignments with Air Products and Chemicals. He spent seven years at Morgan Stanley prior to joining Roffman Miller in 2006. Certifications: Chartered Financial Analyst The Chartered Financial Analyst (CFA) charter is a globally respected, graduate-level investment credential established in 1962 and awarded by CFA Institute — the largest global association of investment professionals. There are currently more than 90,000 CFA charterholders working in 135 countries. To earn the CFA charter, candidates must: 1) pass three sequential, six-hour examinations; 2) have at least four years of qualified professional investment experience; 3) join CFA Institute as members; and 4) commit to abide by, and annually reaffirm, their adherence to the CFA Institute Code of Ethics and Standards of Professional Conduct. High Ethical Standards The CFA Institute Code of Ethics and Standards of Professional Conduct, enforced through an active professional conduct program, require CFA charterholders to: • Place their clients’ interests ahead of their own • Maintain independence and objectivity • Act with integrity • Maintain and improve their professional competence • Disclose conflicts of interest and legal matters  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Global Recognition Passing the three CFA exams is a difficult feat that requires extensive study (successful candidates report spending an average of 300 hours of study per level). Earning the CFA charter demonstrates mastery of many of the advanced skills needed for investment analysis and decision making in today’s quickly evolving global financial industry. As a result, employers and clients are increasingly seeking CFA charterholders—often making the charter a prerequisite for employment. Additionally, regulatory bodies in 19 countries recognize the CFA charter as a proxy for meeting certain licensing requirements, and more than 125 colleges and universities around the world have incorporated a majority of the CFA Program curriculum into their own finance courses. Comprehensive and Current Knowledge The CFA Program curriculum provides a comprehensive framework of knowledge for investment decision making and is firmly grounded in the knowledge and skills used every day in the investment profession. The three levels of the CFA Program test a proficiency with a wide range of fundamental and advanced investment topics, including ethical and professional standards, fixed-income and equity analysis, alternative and derivative investments, economics, financial reporting standards, portfolio management, and wealth planning. The CFA Program curriculum is updated every year by experts from around the world to ensure that candidates learn the most relevant and practical new tools, ideas, and investment and wealth management skills to reflect the dynamic and complex nature of the profession. To learn more about the CFA charter, visit www.cfainstitute.org. Disciplinary Information There is no disciplinary information to report. Other Business Activities There are no other business activities. Additional Compensation There is no additional compensation. Supervision Mark does not have a direct supervisor. If you have any questions or comments, please direct them to Paulette Greenwell or Bob Hofmann at 215-981-1030.  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Susan Lynn Arnold Senior Investment Manager Year of Birth: 1973 Education Background and Business Experience Formal Education after High School: Penn State University, Bachelor of Science, Economics, 1996 LaSalle University, Master of Business Administration, 22 Credits (2004-2008) Business Background: Susan originally started working for Roffman Miller in 2005. In 2008 Susan re-joined Roffman Miller after spending two years managing the Radnor office of TD Ameritrade. Her career started at Charles Schwab as an Investment Specialist and in 2004, she was promoted to branch manager. Disciplinary Information There is no disciplinary information to report. Other Business Activities There are no other business activities. Additional Compensation Roffman Miller as part of its employee compensation plan pays a percentage of the total management fees on the accounts managed by each Advisor. They are also paid a percentage of Assets Under Management for any new related clients and a percentage of management fees for any new and unrelated clients that they bring to the firm. None of these plans affect the management fees paid by clients. A written agreement detailing the terms is kept on file. Supervision Paulette Greenwell is her direct supervisor and can be reached at 215-981-1030.  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Ryan Timothy Crooks, MBA Senior Investment Manager Year of Birth: 1976 Education Background and Business Experience Formal Education after High School: University of Scranton, Bachelor of Science, Finance, 1998 Drexel University, Master of Business Administration, Finance, 2007 Business Background: Ryan joined Roffman Miller in 2007 bringing with him his extensive fixed income experience. Prior to joining Roffman Miller he held positions as Vice President-Fixed Income Capital Markets with Spear, Leeds & Kellogg, FTN Financial and Sterne, Agee & Leach. Disciplinary Information There is no disciplinary information to report. Other Business Activities There are no other business activities. Additional Compensation Roffman Miller as part of its employee compensation plan pays a percentage of the total management fees on the accounts managed by each Advisor. They are also paid a percentage of Assets Under Management for any new related clients and a percentage of management fees for any new and unrelated clients that they bring to the firm. None of these plans affect the management fees paid by clients. A written agreement detailing the terms is kept on file. Supervision Paulette Greenwell is his direct supervisor and can be reached at 215-981-1030.  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Lori Ann Hartman Senior Investment Manager Year of Birth: 1978 Education Background and Business Experience Formal Education after High School: West Chester University, Bachelor of Science, Finance, 2002 Business Background: Lori joined the firm in 1998 as an Intern and upon graduation became a full-time employee. She began her career as an Assistant Investment Manager. She is currently an Investment Manager. She also supervises all of the IT Services. Disciplinary Information There is no disciplinary information to report. Other Business Activities There are no other business activities. Additional Compensation Roffman Miller as part of its employee compensation plan pays a percentage of the total management fees on the accounts managed by each Advisor. They are also paid a percentage of Assets Under Management for any new related clients and a percentage of management fees for any new and unrelated clients that they bring to the firm. None of these plans affect the management fees paid by clients. A written agreement detailing the terms is kept on file. Supervision Paulette Greenwell is her direct supervisor and can be reached at 215-981-1030.  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Kevin Joseph Cooke, CFP®, MBA Senior Investment Manager Year of Birth: 1967 Education Background and Business Experience Formal Education after High School: Temple University, Bachelor of Business Administration, Finance, 1991 St. Joseph’s University, Master of Business Administration, 2001 Business Background: Kevin joined the firm in early 2014 and brings extensive industry experience. He began his financial career in 1992 as a 401(k) Plan Administrator and has over 16 years in the industry, including eight years with the Vanguard Group. While at Vanguard, he held various leadership positions including Project Manager and Relationship Manager of Vanguard Brokerage Services. In 2009, he started a fee-only practice, Cooke Financial Planning, based in Fort Washington, PA. Certifications: Certified Financial Planner 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 80,000 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  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 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, administered in 10 hours over a two-day period, 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 • 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. Disciplinary Information There is no disciplinary information to report. Other Business Activities There are no other business activities. Additional Compensation Roffman Miller as part of its employee compensation plan pays a percentage of the total management fees on the accounts managed by each Advisor. They are also paid a percentage of Assets Under Management for any new related clients and a percentage of management fees for any new and unrelated clients that they bring to the firm. None of these plans affect the management fees paid by clients. A written agreement detailing the terms is kept on file. Supervision Paulette Greenwell is his direct supervisor and can be reached at 215-981-1030.  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Gerry G. Guertin, ChFC® Investment Manager Year of Birth: 1970 Education Background and Business Experience Formal Education after High School: St. Joseph’s University, Bachelor of Science, Financial Management, 1992 Business Background: Prior to joining Roffman Miller Associates in 2016, Gerry spent 3.5 years with Charles Schwab as an Associate Financial Consultant meeting with individual clients and families. Before that he was a Financial Consultant with Citigroup Smith Barney, working with institutional clients. Certifications: Chartered Financial Consultant® The Chartered Financial Consultant designation (ChFC®) has been a mark of excellence for almost thirty years and currently requires nine college-level courses, the most of any financial planning credential. Average study time to earn the ChFC® exceeds 450 hours. Required courses cover extensive education and application training in financial planning, income taxation, investments, and estate and retirement planning. Additional electives are chosen from such topics as macroeconomics, financial decisions for retirement, and executive compensation. ChFC® designees must meet experience requirements and adhere to continuing education and ethical standards. The credential is awarded by The American College, a non-profit educator founded in 1927 and the highest level of academic accreditation. Disciplinary Information There is no disciplinary information to report. Other Business Activities There are no other business activities.  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Additional Compensation Roffman Miller as part of its employee compensation plan pays a percentage of the total management fees on the accounts managed by each Advisor. They are also paid a percentage of Assets Under Management for any new related clients and a percentage of management fees for any new and unrelated clients that they bring to the firm. None of these plans affect the management fees paid by clients. A written agreement detailing the terms is kept on file. Supervision Paulette Greenwell is his direct supervisor and can be reached at 215-981-1030.  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Earl Miller, MBA Investment Manager Year of Birth: 1968 Education Background and Business Experience Formal Education after High School: Saint Leo University, Bachelor of Arts, Business Management, 1992 Northeastern University, Master of Business Administration, 2011 Business Background: Prior to joining Roffman Miller Associates in 2018, Earl served as the director of client development with Main Line Investment Partners and Main Line Private Wealth. He also has experience as a vice president and senior relationship manager with PNC Investments and a vice president and financial advisor with Sanford C. Bernstein. From 1986 to 1995 Mr. Miller proudly served our country as a decorated member of the United States Air Force. Disciplinary Information There is no disciplinary information to report. Other Business Activities There are no other business activities. Additional Compensation Roffman Miller as part of its employee compensation plan pays a percentage of the total management fees on the accounts managed by each Advisor. They are also paid a percentage of Assets Under Management for any new related clients and a percentage of management fees for any new and unrelated clients that they bring to the firm. None of these plans affect the management fees paid by clients. A written agreement detailing the terms is kept on file. Supervision Paulette Greenwell is his direct supervisor and can be reached at 215-981-1030.  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Jeff Moyers, CFP®, MBA Investment Manager Year of Birth: 1964 Education Background and Business Experience Formal Education after High School: Eastern University, Bachelor of Arts, Organizational Management, 1995 Eastern University, Master of Business Administration, 2008 Business Background: Jeff joined Roffman Miller in 2020 after gaining over 20 years of experience in the financial services industry. He began at Prudential Securities in 1998 as a Financial Advisor, a few years later added the responsibilities of Satellite Branch Manager in the Princeton branch. In 2002 he joined Charles Schwab and for 16 years served in a variety of roles including Financial Consultant and Branch Manager. In 2019 he joined PNC Wealth Management as Vice President and Senior Relationship Strategist in the Princeton market. Certifications: Certified Financial Planner 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 80,000 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  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 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, administered in 10 hours over a two-day period, 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 • 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. Disciplinary Information There is no disciplinary information to report. Other Business Activities There are no other business activities. Additional Compensation Roffman Miller as part of its employee compensation plan pays a percentage of the total management fees on the accounts managed by each Advisor. They are also paid a percentage of Assets Under Management for any new related clients and a percentage of management fees for any new and unrelated clients that they bring to the firm. None of these plans affect the management fees paid by clients. A written agreement detailing the terms is kept on file. Supervision Paulette Greenwell is his direct supervisor and can be reached at 215-981-1030.  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Andrew D’Amico, CFA, MBA Investment Manager Year of Birth: 1979 Education Background and Business Experience Formal Education after High School: Saint Joseph’s University’s, Bachelor of Science, MIS with a minor in Economics, 2002 Temple University, Master of Business Administration, Finance, 2004 Business Background: Andrew joined Roffman Miller in 2022 after gaining over 18 years of experience in the financial services industry. Andrew began his career in 2004, working at various investment firms over years. From 2018 until he joined us, he was a Financial Advisor and Investment Management Specialist at Wells Fargo. Before that he worked for over 3 years at The Hartford as an Investment Specialist. He worked at Roch Capital as a Lead Analyst from 2013-2015 and at Delaware Investments as an RFP Specialist from 2010. Certifications: Chartered Financial Analyst The Chartered Financial Analyst (CFA) charter is a globally respected, graduate-level investment credential established in 1962 and awarded by CFA Institute — the largest global association of investment professionals. There are currently more than 90,000 CFA charterholders working in 135 countries. To earn the CFA charter, candidates must: 1) pass three sequential, six-hour examinations; 2) have at least four years of qualified professional investment experience; 3) join CFA Institute as members; and 4) commit to abide by, and annually reaffirm, their adherence to the CFA Institute Code of Ethics and Standards of Professional Conduct. High Ethical Standards The CFA Institute Code of Ethics and Standards of Professional Conduct, enforced through an active professional conduct program, require CFA charterholders to: • Place their clients’ interests ahead of their own • Maintain independence and objectivity • Act with integrity  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 • Maintain and improve their professional competence • Disclose conflicts of interest and legal matters Global Recognition Passing the three CFA exams is a difficult feat that requires extensive study (successful candidates report spending an average of 300 hours of study per level). Earning the CFA charter demonstrates mastery of many of the advanced skills needed for investment analysis and decision making in today’s quickly evolving global financial industry. As a result, employers and clients are increasingly seeking CFA charterholders—often making the charter a prerequisite for employment. Additionally, regulatory bodies in 19 countries recognize the CFA charter as a proxy for meeting certain licensing requirements, and more than 125 colleges and universities around the world have incorporated a majority of the CFA Program curriculum into their own finance courses. Comprehensive and Current Knowledge The CFA Program curriculum provides a comprehensive framework of knowledge for investment decision making and is firmly grounded in the knowledge and skills used every day in the investment profession. The three levels of the CFA Program test a proficiency with a wide range of fundamental and advanced investment topics, including ethical and professional standards, fixed-income and equity analysis, alternative and derivative investments, economics, financial reporting standards, portfolio management, and wealth planning. The CFA Program curriculum is updated every year by experts from around the world to ensure that candidates learn the most relevant and practical new tools, ideas, and investment and wealth management skills to reflect the dynamic and complex nature of the profession. To learn more about the CFA charter, visit www.cfainstitute.org. Disciplinary Information There is no disciplinary information to report. Other Business Activities There are no other business activities. Additional Compensation Roffman Miller as part of its employee compensation plan pays a percentage of the total management fees on the accounts managed by each Advisor. They are also paid a percentage of Assets Under Management for any new related clients and a percentage of management fees for any new and unrelated clients that they bring to the firm. None of these plans affect the management fees paid by clients. A written agreement detailing the terms is kept on file. Supervision Paulette Greenwell is his direct supervisor and can be reached at 215-981-1030.  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 David Gradzki, MBA Associate Investment Manager Year of Birth: 1992 Education Background and Business Experience Formal Education after High School Hunter College, Bachelor of Arts, Political Science, 2016 -Minor in Philosophy Pace University, Master of Business Administration, Business, 2022 Business Background: David started at Roffman Miller Associates in June of 2021. He began by assisting the Investment Managers with complex operational issues, trading, financial planning, and general client service. In 2023 he began advising clients jointly with other managers and on his own. Before joining Roffman Miller, Mr. Gradzki worked as a contracted project manager for the United States military, and prior to that he was managing business operations, staff, and budgets for special events and restaurants. Disciplinary Information There is no disciplinary information to report. Other Business Activities David is a partner in a family-based real-estate rental company in NYC. Additional Compensation Roffman Miller as part of its employee compensation plan pays a percentage of the total management fees on the accounts managed by each Advisor. They are also paid a percentage of Assets Under Management for any new related clients and a percentage of management fees for any new and unrelated clients that they bring to the firm. None of these plans affect the management fees paid by clients. A written agreement detailing the terms is kept on file. Supervision Paulette Greenwell is his direct supervisor and can be reached at 215-981-1030.  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Peter Gaertner, CFP®, RICP®, CDFA®, MBA Investment Manager Year of Birth: 1982 Education Background and Business Experience Formal Education after High School Delaware State University, Bachelor of Science, Management (Finance), 2007 Delaware State University, Master of Business Administration, 2008 Business Background: Peter joined Roffman Miller Associates in 2024. He brings with him over a decade of hands-on experience and expertise in the financial planning field. Prior to joining us, Peter served as a Senior Financial Planner with Affinity Wealth Management in Delaware. Before that he worked for J.P. Morgan Private Bank as both an Outside Portfolio Management Specialist and a Senior Client Service Specialist. Certifications: Certified Financial Planner 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 80,000 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;  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 • Examination – Pass the comprehensive CFP® Certification Examination. The examination, administered in 10 hours over a two-day period, 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 • 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. Certified Divorce Financial Analyst The program is designed to prepare you as an expert on the financial aspects of divorce. For many clients, divorce is the largest financial transaction of their lives. The role of a CDFA® professional is to address the special financial issues of divorce with data to help achieve equitable settlements. CDFA® professionals provide the client and attorney with data analysis that shows the financial effect of any given settlement. They become part of the divorce team and provide support on financial issues such as: • Understanding the short-term and long-term effects of dividing property. • Analyzing pensions and retirement plans. • Determining if the client can afford the marital home, and if not, what he or she can afford. • Recognizing the tax consequences of different settlement proposals.  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Data Collection and Analysis Much of a CDFA® professional’s role is collect the client’s financial data and perform analysis. CDFAs can help manage a client’s expectations of their financial future by presenting different scenarios and talking through the client’s budget and expenses. CDFAs are trained to: • Collect financial and expense data. • Help clients identify their future financial goals. • Develop a budget. • Set retirement objectives. • Determine how much risk they are willing to take with their investments. • Identify what kind of lifestyle they want. Eligibility Requirements Candidates must now have a bachelor’s degree with three years of on-the job experience or, if no bachelor’s degree, five years of relevant experience. Experience has been defined as the following: • Financial planning • Family law practice, or Experience in three or more of the following: Investment advisory or management • Tax code • • Real estate, mortgage, and reverse mortgage lending Life and disability insurance • • Financial therapist or coach Candidates will have to report their experience and have it approved prior to using the CDFA marks. Experience will be submitted through the candidates' profile and will be reviewed by IDFA staff. Maintaining your CDFA® designation Your Certified Divorce Financial Analyst® (CDFA®) designation is valid for one year from your date of certification, after which an annual renewal fee of $345 applies. Additionally, you must obtain 30 hours of divorce-related continuing education (CE) every two years and remain in good standing with IDFA. Retirement Income Certified Professional There are no prerequisite courses required to begin the RICP® Program, but three years of experience in financial planning or a related profession are required to use the designation. To receive the RICP® designation, you must: 1. Successfully complete the three required courses 2. Agree to comply with The American College Code of Ethics and Procedures Participation in the annual Professional Recertification Program is required to maintain the designation.  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Disciplinary Information There is no disciplinary information to report. Other Business Activities There are no other business activities. Additional Compensation Roffman Miller as part of its employee compensation plan pays a percentage of the total management fees on the accounts managed by each Advisor. They are also paid a percentage of Assets Under Management for any new related clients and a percentage of management fees for any new and unrelated clients that they bring to the firm. None of these plans affect the management fees paid by clients. A written agreement detailing the terms is kept on file. Supervision Paulette Greenwell is his direct supervisor and can be reached at 215-981-1030.  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 Robert Allen Riegen CFP®, MBA Investment Manager Year of Birth: 1980 Education Background and Business Experience Formal Education after High School: Penn State University, Bachelor of Arts, English, 2005 Strayer University, Master of Business Administration, 2012 Business Background: Rob started in July of 2024 and brings years of industry experience. He began his career at Merrill Lynch in 2015 in Payroll Processing and in 2017 became a Financial Solutions Advisor. In 2019 he transferred to Fidelity as an Investment consultant, where he stayed for 5 years until joining Roffman Miller. Certifications: Certified Financial Planner 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 80,000 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;  Roffman Miller Associates, Inc. From ADV Part 2A Brochure Supplement IARD/CRD No: 106019 SEC File No.: 801- 38491 2/7/2024 • Examination – Pass the comprehensive CFP® Certification Examination. The examination, administered in 10 hours over a two-day period, 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 • 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. Disciplinary Information There is no disciplinary information to report. Other Business Activities There are no other business activities. Additional Compensation Roffman Miller as part of its employee compensation plan pays a percentage of the total management fees on the accounts managed by each Advisor. They are also paid a percentage of Assets Under Management for any new related clients and a percentage of management fees for any new and unrelated clients that they bring to the firm. None of these plans affect the management fees paid by clients. A written agreement detailing the terms is kept on file. Supervision Paulette Greenwell is his direct supervisor and can be reached at 215-981-1030