SALIENT WEALTH PLANNING

SWP Financial LLC dba Salient Wealth Planning Form ADV Part 2A – Disclosure Brochure Effective: April 22, 2026 This Form ADV Part 2A (“Disclosure Brochure”) provides information about the qualifications and business practices of SWP Financial LLC dba Salient Wealth Planning (“SWP” or the “Advisor”). If you have any questions about the content of this Disclosure Brochure, please contact the Advisor at (858) 768-0096. SWP is a registered investment advisor with the U.S. Securities and Exchange Commission (“SEC”). The information in this Disclosure Brochure has not been approved or verified by the SEC or by any state securities authority. Registration of an investment advisor does not imply any specific level of skill or training. This Disclosure Brochure provides information about SWP to assist you in determining whether to retain the Advisor. Additional information about SWP and its Advisory Persons is available on the SEC’s website at www.adviserinfo.sec.gov by searching with the Advisor’s firm name or CRD# 327885. SWP Financial LLC dba Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/  Item 2 – Material Changes Form ADV 2 is divided into two parts: Part 2A (the "Disclosure Brochure") and Part 2B (the "Brochure Supplement"). The Disclosure Brochure provides information about a variety of topics relating to an Advisor’s business practices and conflicts of interest. The Brochure Supplement provides information about the Advisory Persons of SWP. For convenience, the Advisor has combined these documents into a single disclosure document. SWP believes that communication and transparency are the foundation of its relationship with clients and will continually strive to provide you with complete and accurate information at all times. SWP encourages all current and prospective clients to read this Disclosure Brochure and discuss any questions you may have with the Advisor. Material Changes The following material changes have been made to this Disclosure Brochure since the last filing and distribution to Clients: • The Advisor redrafted its Disclosure Brochure to streamline its disclosures. • Effective February 1, 2026, the Advisor’s principal place of business is located at 171 Saxony Road; Suite #211, Encinitas, CA 92024 • The Advisor now offers standalone Investment Management and Financial Planning. Please see Items 4 and 5 for more information. • The Advisor now utilizes independent managers. Please see Items 4, 5, and 10 for more information. Future Changes From time to time, the Advisor may amend this Disclosure Brochure to reflect changes in business practices, changes in regulations or routine annual updates as required by the securities regulators. This complete Disclosure Brochure or a Summary of Material Changes shall be provided to you annually and if a material change occurs. At any time, you may view the current Disclosure Brochure on-line at the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with the Advisor’s firm name or CRD# 327885. You may also request a copy of this Disclosure Brochure at any time by contacting the Advisor at (858) 768-0096. Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 2  Item 3 – Table of Contents Item 1 – Cover Page ............................................................................................................................................... 1 Item 2 – Material Changes ..................................................................................................................................... 2 Item 3 – Table of Contents ..................................................................................................................................... 3 Item 4 – Advisory Services .................................................................................................................................... 4 A. Firm Information .............................................................................................................................................................. 4 B. Advisory Services Offered ............................................................................................................................................... 4 C. Client Account Management ........................................................................................................................................... 5 D. Wrap Fee Programs ........................................................................................................................................................ 6 E. Assets Under Management ............................................................................................................................................. 6 Item 5 – Fees and Compensation ......................................................................................................................... 6 A. Fees for Advisory Services.............................................................................................................................................. 6 B. Fee Billing........................................................................................................................................................................ 7 C. Other Fees and Expenses .............................................................................................................................................. 7 D. Advance Payment of Fees and Termination ................................................................................................................... 7 E. Compensation for Sales of Securities ............................................................................................................................. 8 Item 6 – Performance-Based Fees and Side-By-Side Management .................................................................. 8 Item 7 – Types of Clients ....................................................................................................................................... 8 Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss ........................................................... 9 A. Methods of Analysis ........................................................................................................................................................ 9 B. Risk of Loss ..................................................................................................................................................................... 9 Item 9 – Disciplinary Information ........................................................................................................................ 11 Item 10 – Other Financial Industry Activities and Affiliations .......................................................................... 11 Item 11 – Code of Ethics, Participation or Interest in Client Transactions and Personal Trading ............... 11 A. Code of Ethics ............................................................................................................................................................... 11 B. Personal Trading with Material Interest ......................................................................................................................... 11 C. Personal Trading in Same Securities as Clients ........................................................................................................... 12 D. Personal Trading at Same Time as Client .................................................................................................................... 12 Item 12 – Brokerage Practices ............................................................................................................................ 12 A. Recommendation of Custodian[s] ................................................................................................................................. 12 B. Aggregating and Allocating Trades ............................................................................................................................... 13 Item 13 – Review of Accounts ............................................................................................................................. 13 A. Frequency of Reviews ................................................................................................................................................... 13 B. Causes for Reviews ...................................................................................................................................................... 13 C. Review Reports ............................................................................................................................................................. 13 Item 14 – Client Referrals and Other Compensation ........................................................................................ 13 A. Compensation Received by SWP ................................................................................................................................. 13 B. Compensation for Client Referrals ................................................................................................................................ 14 Item 15 – Custody ................................................................................................................................................. 14 Item 16 – Investment Discretion ......................................................................................................................... 14 Item 17 – Voting Client Securities ....................................................................................................................... 14 Item 18 – Financial Information ........................................................................................................................... 14 Privacy Policy ....................................................................................................................................................... 16 Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 3  Item 4 – Advisory Services A. Firm Information SWP Financial LLC dba Salient Wealth Planning (“SWP” or the “Advisor”) is a registered investment advisor with the U.S. Securities and Exchange Commission (“SEC”). The Advisor is organized as a LLC under the laws of the State of California. SWP was founded in 2023 and is owned and operated by Philip Smith (Managing Member and Chief Compliance Officer). This Disclosure Brochure provides information regarding the qualifications, business practices, and the advisory services provided by SWP. B. Advisory Services Offered SWP offers investment advisory services to individuals, high net worth individuals, trusts, estates, and businesses (each referred to as a “Client”). The Advisor serves as a fiduciary to Clients, as defined under the applicable laws and regulations. As a fiduciary, the Advisor upholds a duty of loyalty, fairness and good faith towards each Client and seeks to mitigate potential conflicts of interest. SWP's fiduciary commitment is further described in the Advisor’s Code of Ethics. For more information regarding the Code of Ethics, please see Item 11 – Code of Ethics, Participation or Interest in Client Transactions and Personal Trading. Wealth Management Services SWP provides customized wealth management services for its Clients. This is achieved through continuous personal Client contact and interaction while providing discretionary investment management services and a broad range of comprehensive financial planning. Investment Management Services – The Advisor will typically provide discretionary investment management services as a part of its wealth management services. SWP may also offer investment management services on a standalone basis pursuant to a separate written agreement. SWP works closely with each Client to identify their investment goals and objectives as well as risk tolerance and financial situation in order to create a portfolio strategy. SWP will then construct an investment portfolio, consisting of low-cost, diversified mutual funds and/or exchange-traded funds (“ETFs”) to achieve the Client’s investment goals. The Advisor may also utilize individual stocks or bonds to meet the needs of the Client. The Advisor may retain other types of investments from the Client’s legacy portfolio based on fit with the overall portfolio strategy, tax-related reasons, or other reasons as identified between the Advisor and the Client. SWP’s investment strategies are primarily long-term focused, but the Advisor may buy, sell or re-allocate positions that have been held for less than one year to meet the objectives of the Client or due to market conditions. SWP will construct, implement and monitor the portfolio to ensure it meets the goals, objectives, circumstances, and risk tolerance agreed to by the Client. Each Client will have the opportunity to place reasonable restrictions on the types of investments to be held in their respective portfolio, subject to acceptance by the Advisor. SWP evaluates and selects investments for inclusion in Client portfolios only after applying its internal due diligence process. SWP may recommend, on occasion, redistributing investment allocations to diversify the portfolio. SWP may recommend specific positions to increase sector or asset class weightings. The Advisor may recommend employing cash positions as a possible hedge against market movement. SWP may recommend selling positions for reasons that include, but are not limited to, harvesting capital gains or losses, business or sector risk exposure to a specific security or class of securities, overvaluation or overweighting of the position[s] in the portfolio, change in risk tolerance of the Client, generating cash to meet Client needs, or any risk deemed unacceptable for the Client’s risk tolerance. At no time will SWP accept or maintain custody of a Client’s funds or securities, except for the limited authority as outlined in Item 15 – Custody. All Client assets will be managed within the designated account[s] at the Custodian, pursuant to the terms of the advisory agreement. Please see Item 12 – Brokerage Practices. Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 4  Use of Independent Managers – SWP will recommend that Clients utilize one or more unaffiliated investment managers or investment platforms (collectively “Independent Managers”) for all or a portion of a Client’s investment portfolio, based on the Client’s needs and objectives. In certain instances, the Client may be required to authorize and enter into an investment management agreement with the Independent Manager[s] that defines the terms in which the Independent Manager[s] will provide its services. The Advisor will perform initial and ongoing oversight and due diligence over each Independent Manager to ensure the strategy remains aligned with Clients investment objectives and overall best interests. The Advisor will also assist the Client in the development of the initial policy recommendations and managing the ongoing Client relationship. The Client, prior to entering into an agreement with an Independent Manager, will be provided with the Independent Manager's Form ADV Part 2A - Disclosure Brochure (or a brochure that makes the appropriate disclosures). Retirement Accounts – When the Advisor provides investment advice to Clients regarding ERISA retirement accounts or individual retirement accounts (“IRAs”), the Advisor is a fiduciary within the meaning of Title I of the Employee Retirement Income Security Act (“ERISA”) and/or the Internal Revenue Code (“IRC”), as applicable, which are laws governing retirement accounts. When deemed to be in the Client’s best interest, the Advisor will provide investment advice to a Client regarding a distribution from an ERISA retirement account or to roll over the assets to an IRA, or recommend a similar transaction including rollovers from one ERISA sponsored Plan to another, one IRA to another IRA, or from one type of account to another account (e.g. commission-based account to fee-based account). Such a recommendation creates a conflict of interest if the Advisor will earn a new (or increase its current) advisory fee as a result of the transaction. No client is under any obligation to roll over a retirement account to an account managed by the Advisor. Financial Planning and Consulting Services – The Advisor provides a variety of financial planning and consulting services to Clients as part of its wealth management services. The Advisor also provides standalone financial planning services pursuant to a written financial planning agreement. Services are offered in several areas of a Client’s financial situation, depending on their goals and objectives. Generally, such financial planning services involve preparing a formal financial plan or rendering a specific financial consultation based on the Client’s financial goals and objectives. This planning or consulting may encompass one or more areas of need, including but not limited to, investment planning, retirement planning, personal savings, education savings, insurance needs and/or other areas of a Client’s financial situation. A financial plan developed for, or financial consultation rendered to the Client will usually include general recommendations for a course of activity or specific actions to be taken by the Client. For example, recommendations may be made that the Client start or revise their investment programs, commence or alter retirement savings, establish education savings and/or charitable giving programs. SWP may also refer Clients to an accountant, attorney or other specialists, as appropriate for their unique situation. For certain financial planning engagements, the Advisor will provide a written summary of the Client’s financial situation, observations, and recommendations. For consulting or ad-hoc engagements, the Advisor may not provide a written summary. Plans or consultations are typically completed within six (6) months of contract date, assuming all information and documents requested are provided promptly. Financial planning and consulting recommendations pose a conflict between the interests of the Advisor and the interests of the Client. For example, the Advisor has an incentive to recommend that Clients engage the Advisor for investment management services or to increase the level of investment assets with the Advisor, as it would increase the amount of advisory fees paid to the Advisor. Clients are not obligated to implement any recommendations made by the Advisor or maintain an ongoing relationship with the Advisor. If the Client elects to act on any of the recommendations made by the Advisor, the Client is under no obligation to implement the transaction through the Advisor. C. Client Account Management Prior to engaging SWP to provide investment advisory services, each Client is required to enter into a written agreement with the Advisor that define the terms, conditions, authority and responsibilities of the Advisor and the Client. These services may include: Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 5  • Establishing an Investment Strategy – SWP, in connection with the Client, will develop a strategy that seeks to achieve the Client’s goals and objectives. • Asset Allocation – SWP will develop a strategic asset allocation that is targeted to meet the investment objectives, time horizon, financial situation and tolerance for risk for each Client. • Portfolio Construction – SWP will develop a portfolio for the Client that is intended to meet the stated goals and objectives of the Client. • Investment Management and Supervision – SWP will provide investment management and ongoing oversight of the Client’s investment portfolio. D. Wrap Fee Programs SWP does not manage or place Client assets into a wrap fee program. Investment management services are provided directly by SWP. E. Assets Under Management As of February 26, 2026, SWP manages $239,389,499 in Client assets, $194,746,682 of which are managed on a discretionary basis and $44,642,817 on a non-discretionary basis. Clients may request more current information at any time by contacting the Advisor. Item 5 – Fees and Compensation The following paragraphs detail the fee structure and compensation methodology for services provided by the Advisor. Each Client engaging the Advisor for services described herein shall be required to enter into a written agreement with the Advisor. A. Fees for Advisory Services Wealth Management and Investment Management Services Wealth management and investment management fees are paid monthly, at the end of each month pursuant to the terms of the investment advisory agreement. Wealth management and investment management fees are based on the average daily balance of the market value of assets under management at the end of the month. Wealth management and investment management fees range from up to 1.50% annually based on several factors, including: the scope and complexity of the services to be provided; the level of assets to be managed; and the overall relationship with the Advisor. Relationships with multiple objectives, specific reporting requirements, portfolio restrictions and other complexities may be charged a higher fee. The wealth management and investment management fee in the first month of service is prorated from the inception date of the account[s] to the end of the first month. Fees may be negotiable at the sole discretion of the Advisor. The Client’s fees will take into consideration the aggregate assets under management with the Advisor. All securities held in accounts managed by SWP will be independently valued by the Custodian. The Advisor will conduct periodic reviews of the Custodian’s valuation to ensure accurate billing. Use of Independent Managers – As noted in Item 4, the Advisor may implement all or a portion of a Client’s investment portfolio utilizing one or more Independent Managers. To eliminate any conflict of interest, the Advisor does not earn any compensation from an Independent Manager. The Advisor will only earn its investment advisory fee as described above. The Advisor will allocate a portion of the advisory fee collected to the Independent Manager pursuant to the terms of the executed agreement between the Advisor and the Independent Manager. The total blended fee, including the Advisor’s fee and the Independent Manager’s fee, will not exceed 2.00 % annually. The Advisor’s fee is exclusive of, and in addition to any applicable securities transaction and custody fees, and other related costs and expenses described in Item 5.C below, which may be incurred by the Client. However, the Advisor shall not receive any portion of these commissions, fees, and costs. Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 6  Financial Planning Services SWP typically offers financial planning as a part of its wealth maanngement services. SWP may also offer standalone financial planning services for a fixed engagement fee ranging up to $25,000 per engagement. Fees may be negotiable based on the nature and complexity of the services to be provided and the overall relationship with the Advisor. An estimate for total costs will be determined prior to engaging for these services. B. Fee Billing Wealth Management Services Wealth management fees are calculated by the Advisor or its delegate and deducted from the Client’s account[s] at the Custodian. The Advisor shall send an invoice to the Custodian indicating the amount of the fees to be deducted from the Client’s account[s] at the respective month end date. The amount due is calculated as follows: [(billable market value x annual rate) / 365] x effective days in the billing period. The billable market value is determined by the sum of daily market values in the billing period, divided by the number of business days in the billing period. Clients will be provided with a statement, at least quarterly, from the Custodian reflecting deduction of the wealth management fee. Clients provide written authorization permitting advisory fees to be deducted by SWP to be paid directly from their account[s] held by the Custodian as part of the wealth management agreement and separate account forms provided by the Custodian. Use of Independent Managers – For Client accounts implemented through an Independent Manager, the Client’s overall fees may include SWP’s investment advisory fee (as noted above) plus investment management fees and/or platform fees charged by the Independent Manager[s], as applicable. In certain instances, the Independent Manager or the Advisor may assume responsibility for calculating the Client’s fees and deduct all fees from the Client’s account[s]. Financial Planning Services Financial planning fees for standalone services are invoiced by the Advisor and are due upon completion of the agreed upon deliverable[s]. C. Other Fees and Expenses Clients may incur certain fees or charges imposed by third parties, other than SWP, in connection with investments made on behalf of the Client’s account[s]. The Client is responsible for all custody and securities execution fees charged by the Custodian, as applicable. The Advisor's recommended Custodian does not charge securities transaction fees for ETF and equity trades in a Client's account, provided that the account meets the terms and conditions of the Custodian's brokerage requirements. However, the Custodian typically charges for mutual funds and other types of investments. The fees charged by SWP are separate and distinct from these custody and execution fees. In addition, all fees paid to SWP for investment advisory services are separate and distinct from the expenses charged by mutual funds and ETFs to their shareholders, if applicable. These fees and expenses are described in each fund’s prospectus. These fees and expenses will generally be used to pay management fees for the funds, other fund expenses, account administration (e.g., custody, brokerage and account reporting), and a possible distribution fee. A Client may be able to invest in these products directly, without the services of SWP, but would not receive the services provided by SWP which are designed, among other things, to assist the Client in determining which products or services are most appropriate for each Client’s financial situation and objectives. Accordingly, the Client should review both the fees charged by the fund[s] and the fees charged by SWP to fully understand the total fees to be paid. Please refer to Item 12 – Brokerage Practices for additional information. D. Advance Payment of Fees and Termination Wealth Management Services SWP is compensated for its investment management services at the end of the month after services are rendered. Either party may terminate the wealth management agreement, at any time, by providing advance written notice to the other party. The Client may also terminate the wealth management agreement within five (5) business days of signing the Advisor’s agreement at no cost to the Client. After the five-day period, the Client will incur charges for bona fide Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 7  advisory services rendered to the point of termination and such fees will be due and payable by the Client. The Client’s wealth management agreement with the Advisor is non-transferable without the Client’s prior consent. Use of Independent Managers – In the event that the Advisor has determined that an Independent Manager is no longer in the Client’s best interest or a Client should wish to terminate their relationship with the Independent Manager, the terms for the termination will be set forth in the respective agreements between the Client or the Advisor and the Independent Manager. SWP will assist the Client with the termination and transition as appropriate. Financial Planning Services SWP is compensated for its standalone financial planning services upon completion of the engagement deliverable[s]. Either party may terminate the financial planning agreement, at any time, by providing advance written notice to the other party. The Client may also terminate the financial planning agreement within five (5) business days of signing the Advisor’s agreement at no cost to the Client. After the five-day period, the Client will incur charges for bona fide advisory services rendered to the point of termination and such fees will be due and payable by the Client. Upon termination, the Client shall be billed for the percentage of the engagement scope completed by the Advisor. The Client’s financial planning agreement with the Advisor is non-transferable without the Client’s prior consent. E. Compensation for Sales of Securities Insurance Agency Affiliation Advisory Persons are licensed as independent insurance professionals. As an independent insurance professional, an Advisory Person may earn commission-based compensation for selling insurance products, including insurance products offered to Clients. Insurance commissions earned by the Advisory Person are separate and in addition to investment advisory fees. This practice presents a conflict of interest as an Advisory Person who is also an insurance professional will have an incentive to recommend insurance products to the Client for the purpose of generating commissions rather than solely based on the Client’s needs. Clients are under no obligation, contractual or otherwise, to purchase insurance products through any Advisory Person affiliated with the Advisor. Please see Item 10 below. Broker Dealer Affiliation Certain Advisory Persons are also Registered Representatives of Purshe Kaplan Sterling Investments (“PKS”). PKS is a registered broker-dealer (CRD# 35747), member FINRA, SIPC. In one’s separate capacity as a Registered Representative, the Advisory Person will implement securities transactions under PKS and not through the Advisor. In this capacity, the Advisory Person will receive commission-based compensation in connection with the purchase and sale of securities, including 12b-1 fees for the sale of investment company products. Compensation earned by the Advisory Person in one’s capacity as a Registered Representative is separate and in addition to investment advisory fees. This practice presents a conflict of interest because the Advisory Person who is a Registered Representative has an incentive to effect securities transactions for the purpose of generating commissions rather than solely based on the Client’s needs. Clients are not obligated to implement any recommendation provided by the Advisor nor Advisory Persons. Neither the Advisor nor Advisory Persons will earn ongoing investment advisory fees in connection with any products or services implemented in the Advisory Person’s separate capacity as a Registered Representative. Please see Item 10 below. Item 6 – Performance-Based Fees and Side-By-Side Management SWP does not charge performance-based fees for its investment advisory services. The fees charged by SWP are as described in Item 5 above and are not based upon the capital appreciation of the funds or securities held by any Client. SWP does not manage any proprietary investment funds or limited partnerships (for example, a mutual fund or a hedge fund) and has no financial incentive to recommend any particular investment options to its Clients. Item 7 – Types of Clients SWP offers wealth management services to individuals, high net worth individuals, trusts, estates and businesses. SWP generally requires a minimum relationship size of $500,000 to effectively implement its investment process. Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 8  Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss A. Methods of Analysis SWP primarily employs a fundamental analysis method in developing investment strategies for its Clients. Research and analysis from SWP are derived from numerous sources, including financial media companies, third- party research materials, Internet sources, and review of company activities, including annual reports, prospectuses, press releases and research prepared by others. Fundamental analysis utilizes economic and business indicators as investment selection criteria. This criteria consists generally of ratios and trends that may indicate the overall strength and financial viability of the entity being analyzed. Assets are deemed suitable if they meet certain criteria to indicate that they are a strong investment with a value discounted by the market. While this type of analysis helps the Advisor in evaluating a potential investment, it does not guarantee that the investment will increase in value. Assets meeting the investment criteria utilized in the fundamental analysis may lose value and may have negative investment performance. The Advisor monitors these economic indicators to determine if adjustments to strategic allocations are appropriate. More details on the Advisor’s review process are included below in Item 13 – Review of Accounts. Technical analysis involves the analysis of past market data rather than specific company data in determining the recommendations made to clients. Technical analysis may involve the use of charts to identify market patterns and trends, which may be based on investor sentiment rather than the fundamentals of the company. The primary risk in using technical analysis is that spotting historical trends may not help to predict such trends in the future. Even if the trend will eventually reoccur, there is no guarantee that SWP will be able to accurately predict such a reoccurrence. As noted above, SWP generally employs a long-term investment strategy for its Clients, as consistent with their financial goals. SWP will typically hold all or a portion of a security for more than a year, but may hold for shorter periods for the purpose of rebalancing a portfolio or meeting the cash needs of Clients. At times, SWP may also buy and sell positions that are more short-term in nature, depending on the goals of the Client and/or the fundamentals of the security, sector or asset class. B. Risk of Loss Investing in securities involves certain investment risks. Securities may fluctuate in value or lose value. Clients should be prepared to bear the potential risk of loss. SWP will assist Clients in determining an appropriate strategy based on their tolerance for risk and other factors noted above. However, there is no guarantee that a Client will meet their investment goals. Please see Item 8.B. for risks associated with the Advisor’s investment strategies as well as general risks of investing. While the methods of analysis help the Advisor in evaluating a potential investment, it does not guarantee that the investment will increase in value. Assets meeting the investment criteria utilized in these methods of analysis may lose value and may have negative investment performance. The Advisor monitors these economic indicators to determine if adjustments to strategic allocations are appropriate. More details on the Advisor’s review process are included below in Item 13 – Review of Accounts. Each Client engagement will entail a review of the Client's investment goals, financial situation, time horizon, tolerance for risk and other factors to develop an appropriate strategy for managing a Client's account. Client participation in this process, including full and accurate disclosure of requested information, is essential for the analysis of a Client's account[s]. The Advisor shall rely on the financial and other information provided by the Client or their designees without the duty or obligation to validate the accuracy and completeness of the provided information. It is the responsibility of the Client to inform the Advisor of any changes in financial condition, goals or other factors that may affect this analysis. Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 9  The risks associated with a particular strategy are provided to each Client in advance of investing Client accounts. The Advisor will work with each Client to determine their tolerance for risk as part of the portfolio construction process. Following are some of the risks associated with the Advisor’s investment strategies: Market Risks The value of a Client’s holdings may fluctuate in response to events specific to companies or markets, as well as economic, political, or social events in the U.S. and abroad. This risk is linked to the performance of the overall financial markets. ETF Risks The performance of ETFs is subject to market risk, including the possible loss of principal. The price of the ETFs will fluctuate with the price of the underlying securities that make up the funds. In addition, ETFs have a trading risk based on the loss of cost efficiency if the ETFs are traded actively and a liquidity risk if the ETFs has a large bid- ask spread and low trading volume. The price of an ETF fluctuates based upon the market movements and may dissociate from the index being tracked by the ETF or the price of the underlying investments. An ETF purchased or sold at one point in the day may have a different price than the same ETF purchased or sold a short time later. Bond Risks Bonds are subject to specific risks, including the following: (1) interest rate risks, i.e. the risk that bond prices will fall if interest rates rise, and vice versa, the risk depends on two things, the bond's time to maturity, and the coupon rate of the bond. (2) reinvestment risk, i.e. the risk that any profit gained must be reinvested at a lower rate than was previously being earned, (3) inflation risk, i.e. the risk that the cost of living and inflation increase at a rate that exceeds the income investment thereby decreasing the investor’s rate of return, (4) credit default risk, i.e. the risk associated with purchasing a debt instrument which includes the possibility of the company defaulting on its repayment obligation, (5) rating downgrades, i.e. the risk associated with a rating agency’s downgrade of the company’s rating which impacts the investor’s confidence in the company’s ability to repay its debt and (6) Liquidity Risks, i.e. the risk that a bond may not be sold as quickly as there is no readily available market for the bond. Mutual Fund Risks The performance of mutual funds is subject to market risk, including the possible loss of principal. The price of the mutual funds will fluctuate with the value of the underlying securities that make up the funds. The price of a mutual fund is typically set daily therefore a mutual fund purchased at one point in the day will typically have the same price as a mutual fund purchased later that same day. Real Estate Investment Trusts (“REITs”) Investing in Real Estate Investment Trusts (“REITs”) involves certain distinct risks in addition to those risks associated with investing in the real estate industry in general. For Example, equity REITs may be affected by changes in the value of the underlying property owned by the REITs, while mortgage REITs may be affected by the quality of credit extended. REITs are subject to heavy cash flow dependency, default by borrowers and self- liquidation. REITs, especially mortgage REITs, are also subject to interest rate risk (i.e., as interest rates rise, the value of the REIT may decline). Independent Manager Risks The Advisor may select certain Independent Managers to manage a portion of the Client’s portfolio. The Advisor will conduct due diligence, monitor the performance and adherence to the investment mandates and objectives on the selected Independent Managers. However, the Advisor will not have an active role in the day-to-day management of this portion of the Client’s portfolio. A failure by an Independent Manager’s ability to successfully implement its model, strategies and/or management of assets could result in a negative impact on the Client’s overall investment portfolio. The performance may also be impacted by market conditions. Legal and compliance risk may also impact the independent manager and its ability to manage client assets. Alternative Investments (Limited Partnerships) The performance of alternative investments (limited partnerships) can be volatile and may have limited liquidity. An investor could lose all or a portion of their investment. Such investments often have concentrated positions and investments that may carry higher risks. Client should only have a portion of their assets in these investments. Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 10  Past performance is not a guarantee of future returns. Investing in securities and other investments involve a risk of loss that each Client should understand and be willing to bear. Clients are reminded to discuss these risks with the Advisor. Item 9 – Disciplinary Information There are no legal, regulatory or disciplinary events involving SWP or its owner. SWP values the trust Clients place in the Advisor. The Advisor encourages Clients to perform the requisite due diligence on any advisor or service provider that the Client engages. The backgrounds of the Advisor or Advisory Persons are available on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with the Advisor’s firm name or CRD# 327885. Item 10 – Other Financial Industry Activities and Affiliations Insurance Agency Affiliation As noted in Item 5, Advisory Persons are licensed insurance professionals. Implementations of insurance recommendations are separate and apart from one’s role with the Advisor. As an insurance professional, the Advisory Person will receive customary commissions and other related revenues from the various insurance companies whose products are sold. Advisory Persons are not required to offer the products of any particular insurance company. Commissions generated by insurance sales do not offset investment advisory fees. This presents a conflict of interest in recommending certain products of the insurance companies. Clients are under no obligation to implement any recommendations made by the Advisor or Advisory Persons. Broker-Dealer Affiliation As noted in Item 5, certain Advisory Persons are also Registered Representatives of PKS. In one’s separate capacity as a Registered Representative, Advisory Persons will receive commissions for the implementation of recommendations for commissionable transactions. Clients are not obligated to implement any recommendation provided by the Advisory Person. Neither the Advisor nor Advisory Persons will earn ongoing investment advisory fees in connection with any services implemented in the Advisory Person’s separate capacity as a Registered Representative. Independent Managers As noted in Item 4, the Advisor may implement all or a portion of a Client’s investment portfolio with one or more Independent Managers. The Advisor does not receive any compensation nor does this present a material conflict of interest. The Advisor will only earn its investment advisory fee as described in Item 5.A. Item 11 – Code of Ethics, Participation or Interest in Client Transactions and Personal Trading A. Code of Ethics SWP has implemented a Code of Ethics (the “Code”) that defines the Advisor’s fiduciary commitment to each Client. This Code applies to all persons associated with SWP (“Supervised Persons”). The Code was developed to provide general ethical guidelines and specific instructions regarding the Advisor’s duties to each Client. SWP and its Supervised Persons owe a duty of loyalty, fairness and good faith towards each Client. It is the obligation of SWP’s Supervised Persons to adhere not only to the specific provisions of the Code, but also to the general principles that guide the Code. The Code covers a range of topics that address employee ethics and conflicts of interest. To request a copy of the Code, please contact the Advisor at (858) 768-0096. B. Personal Trading with Material Interest SWP allows Supervised Persons to purchase or sell the same securities that may be recommended to and purchased on behalf of Clients. SWP does not act as principal in any transactions. In addition, the Advisor does not Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 11  act as the general partner of a fund, or advise an investment company. SWP does not have a material interest in any securities traded in Client accounts. C. Personal Trading in Same Securities as Clients SWP allows Supervised Persons to purchase or sell the same securities that may be recommended to and purchased on behalf of Clients. Owning the same securities that are recommended (purchase or sell) to Clients presents a conflict of interest that, as fiduciaries, must be disclosed to Clients and mitigated through policies and procedures. As noted above, the Advisor has adopted the Code to address insider trading (material non-public information controls); gifts and entertainment; outside business activities and personal securities reporting. When trading for personal accounts, Supervised Persons have a conflict of interest if trading in the same securities. The fiduciary duty to act in the best interest of its Clients can be violated if personal trades are made with more advantageous terms than Client trades, or by trading based on material non-public information. This risk is mitigated by SWP requiring reporting of personal securities trades by its Supervised Persons for review by the Chief Compliance Officer (“CCO”) or delegate. The Advisor has also adopted written policies and procedures to detect the misuse of material, non-public information. D. Personal Trading at Same Time as Client While SWP allows Supervised Persons to purchase or sell the same securities that may be recommended to and purchased on behalf of Clients, such trades are typically aggregated with Client orders or traded afterwards. At no time will SWP, or any Supervised Person of SWP, transact in any security to the detriment of any Client. Item 12 – Brokerage Practices A. Recommendation of Custodian[s] SWP does not have discretionary authority to select the broker-dealer/custodian for custody and execution services. The Client will engage the broker-dealer/custodian (herein the "Custodian") to safeguard Client assets and authorize SWP to direct trades to the Custodian as agreed upon in the investment advisory agreement. Further, SWP does not have the discretionary authority to negotiate commissions on behalf of Clients on a trade- by-trade basis. Where SWP does not exercise discretion over the selection of the Custodian, it may recommend the Custodian to Clients for custody and execution services. Clients are not obligated to use the Custodian recommended by the Advisor and will not incur any extra fee or cost associated with using a custodian not recommended by SWP. However, the Advisor may be limited in the services it can provide if the recommended Custodian is not engaged. SWP may recommend the Custodian based on criteria such as, but not limited to, reasonableness of commissions charged to the Client, services made available to the Client, and its reputation and/or the location of the Custodian’s offices. SWP will generally recommend that Clients establish their account[s] at Fidelity Clearing and Custody Solutions and related divisions and entities of Fidelity Investments, Inc. (collectively “Fidelity”), a FINRA-registered broker-dealer and member SIPC. Fidelity will serve as the Client’s “qualified custodian.” SWP maintains an institutional relationship with Fidelity, whereby the Advisor receives economic benefits from Fidelity (Please see Item 14 – Client Referrals and Other Compensation below). As registered representatives of Purshe Kaplan Sterling Investments, the Advisor may be limited in using other broker-dealers/custodians as Purshe Kaplan Sterling Investments must approve the use of any outside broker- dealer/custodian. Following are additional details regarding the brokerage practices of the Advisor: 1. Soft Dollars - Soft dollars are revenue programs offered by broker-dealers/custodians whereby an advisor enters into an agreement to place security trades with a broker-dealer/custodian in exchange for research and other services. SWP does not participate in soft dollar programs sponsored or offered by any broker- dealer/custodian. However, the Advisor receives certain economic benefits from the Custodian. Please see Item 14 below. Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 12  2. Brokerage Referrals - SWP does not receive any compensation from any third party in connection with the recommendation for establishing an account. 3. Directed Brokerage - All Clients are serviced on a “directed brokerage basis”, where SWP will place trades within the established account[s] at the Custodian designated by the Client. Further, all Client accounts are traded within their respective account[s]. The Advisor will not engage in any principal transactions (i.e., trade of any security from or to the Advisor’s own account) or cross transactions with other Client accounts (i.e., purchase of a security into one Client account from another Client’s account[s]). SWP will not be obligated to select competitive bids on securities transactions and does not have an obligation to seek the lowest available transaction costs. These costs are determined by the Custodian. B. Aggregating and Allocating Trades The primary objective in placing orders for the purchase and sale of securities for Client accounts is to obtain the most favorable net results taking into account such factors as 1) price, 2) size of the order, 3) difficulty of execution, 4) confidentiality and 5) skill required of the Custodian. SWP will execute its transactions through the Custodian as authorized by the Client. SWP may aggregate orders in a block trade or trades when securities are purchased or sold through the Custodian for multiple (discretionary) accounts in the same trading day. If a block trade cannot be executed in full at the same price or time, the securities actually purchased or sold by the close of each business day must be allocated in a manner that is consistent with the initial pre-allocation or other written statement. This must be done in a way that does not consistently advantage or disadvantage any particular Clients’ accounts. Item 13 – Review of Accounts A. Frequency of Reviews Securities in Client accounts are monitored on a regular and continuous basis by Philip Smith, Chief Compliance Officer of SWP. Formal reviews are generally conducted at least annually or more frequently depending on the needs of the Client. B. Causes for Reviews In addition to the investment monitoring noted in Item 13.A., each Client account shall be reviewed at least annually. Reviews may be conducted more frequently at the Client’s request. Accounts may be reviewed as a result of major changes in economic conditions, known changes in the Client’s financial situation, and/or large deposits or withdrawals in the Client’s account[s]. The Client is encouraged to notify SWP if changes occur in the Client’s personal financial situation that might adversely affect the Client’s investment plan. Additional reviews may be triggered by material market, economic or political events. C. Review Reports The Client will receive brokerage statements no less than quarterly from the Custodian. These brokerage statements are sent directly from the Custodian to the Client. The Client may also establish electronic access to the Custodian’s website so that the Client may view these reports and their account activity. Client brokerage statements will include all positions, transactions and fees relating to the Client’s account[s]. The Advisor may also provide Clients with periodic reports regarding their holdings, allocations, and performance. Item 14 – Client Referrals and Other Compensation A. Compensation Received by SWP SWP is a fee-based advisory firm, that is compensated solely by its Clients and not from any investment product. SWP does not receive commissions or other compensation from product sponsors, broker-dealers or any un-related third party. SWP may refer Clients to various unaffiliated, non-advisory professionals (e.g. attorneys, accountants, estate planners) to provide certain financial services necessary to meet the goals of its Clients. Likewise, SWP may receive non-compensated referrals of new Clients from various third-parties. Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 13  Participation in Institutional Advisor Platform As noted in item 12, SWP has established an institutional relationship with Fidelity to assist the Advisor in managing Client account[s]. As part of the arrangement, Fidelity also makes available to the Advisor, at no additional charge to the Advisor, certain research and brokerage services, including research services obtained by Fidelity directly from independent research companies. The Advisor may also receive additional services and support from Fidelity. As a result of receiving such services for no additional cost, the Advisor may have an incentive to continue to use or expand the use of Fidelity's services. The Advisor examined this potential conflict of interest when it chose to enter into the relationship with Fidelity and has determined that the relationship is in the best interests of the Advisor’s Clients and satisfies its Client obligations, including its duty to seek best execution. Please see Item 12 above. The Advisor receives access to software and related support without cost because the Advisor renders investment management services to Clients that maintain assets at Fidelity. The software and related systems support may benefit the Advisor, but not its Clients directly. In fulfilling its duties to its Clients, the Advisor endeavors at all times to put the interests of its Clients first. Clients should be aware, however, that the receipt of economic benefits from a Custodian creates a conflict of interest since these benefits may influence the Advisor’s recommendation of this Custodian over one that does not furnish similar software, systems support, or services. B. Compensation for Client Referrals The Advisor does not compensate, either directly or indirectly, any persons who are not supervised persons, for Client referrals. Item 15 – Custody The Advisor is authorized to deduct its fees from the Client’s account[s] at the Custodian. The Client must place all assets with a “qualified custodian”. The Client is required to engage the Custodian to retain all funds and securities and direct the Advisor to utilize that Custodian for security transactions in the account[s]. The Client should review statements provided by the Custodian, as the Custodian does not perform this review. For more information about custodians and brokerage practices, see Item 12 – Brokerage Practices. If the Client gives the Advisor authority to move money from one account to another account, the Advisor may have custody of those assets. In order to avoid additional regulatory requirements, the Custodian and the Advisor have adopted safeguards to ensure that the money movements are completed in accordance with the Client’s instructions. Item 16 – Investment Discretion SWP generally has discretion over the selection and amount of securities to be bought or sold in Client accounts without obtaining prior consent or approval from the Client. However, these purchases or sales may be subject to specified investment objectives, guidelines, or limitations previously set forth by the Client and agreed to by SWP. Discretionary authority will only be authorized upon full disclosure to the Client. The granting of such authority will be evidenced by the Client's execution of an investment advisory agreement containing all applicable limitations to such authority. All discretionary trades made by SWP will be in accordance with each Client's investment objectives and goals. Item 17 – Voting Client Securities SWP does not accept proxy-voting responsibility for any Client. Clients will receive proxy statements directly from the Custodian. The Advisor will assist in answering questions relating to proxies, however, the Client retains the sole responsibility for proxy decisions and voting. Item 18 – Financial Information Neither SWP, nor its management, have any adverse financial situations that would reasonably impair the ability of SWP to meet all obligations to its Clients. Neither SWP, nor any of its Advisory Persons, have been subject to a Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 14  bankruptcy or financial compromise. SWP is not required to deliver a balance sheet along with this Disclosure Brochure as the Advisor does not collect advance fees of $1,200 or more for services to be performed six months or more in the future. Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 15  Form ADV Part 2B – Brochure Supplement for Philip E. Smith, CFP®, RICP®, ChFC® Managing Member & Chief Compliance Officer Effective: April 22, 2026 This Form ADV 2B (“Brochure Supplement”) provides information about the background and qualifications of Philip E. Smith, CFP® (CRD# 4231653) in addition to the information contained in the SWP Financial LLC dba Salient Wealth Planning (“SWP” or the “Advisor”, CRD# 327885) Disclosure Brochure. If you have not received a copy of the Disclosure Brochure or if you have any questions about the contents of the SWP Disclosure Brochure or this Brochure Supplement, please contact us at (858) 768-0096. Additional information about Mr. Smith is available on the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with his full name or his Individual CRD# 4231653. Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 16  Item 2 – Educational Background and Business Experience Philip E. Smith, CFP®, RICP®, ChFC®, born in 1978, is dedicated to advising Clients of SWP as the Managing Member & Chief Compliance Officer. Mr. Smith earned a MSFS from American College in 2010. Additional information regarding Mr. Smith’s employment history is included below. Employment History: 10/2023 to Present Managing Member & Chief Compliance Officer, SWP Financial LLC dba Salient Wealth Planning Registered Representative, Purshe Kaplan Sterling Investments Inc. Financial Advisor, Ameriprise Financial, Inc. 10/2023 to Present 5/2000 to 10/2023 CERTIFIED FINANCIAL PLANNER® Professional I am certified for financial planning services in the United States by Certified Financial Planner Board of Standards, Inc. (“CFP Board”). Therefore, I may refer to myself as a CERTIFIED FINANCIAL PLANNER® Professional or a CFP® Professional, and I may use these and the other certification marks (the “CFP Board Certification Marks”) that Certified Financial Planner Board of Standards Center for Financial Planning, Inc. has licensed to CFP Board in the United States. The CFP® certification is voluntary. No federal or state law or regulation requires financial planners to hold the CFP® certification. You may find more information about the CFP® certification at www.cfp.net. CFP® Professionals have met CFP Board’s high standards for education, examination, experience, and ethics. To become a CFP® Professional, an individual must fulfill the following requirements: • Education – Earn a bachelor’s degree or higher from an accredited college or university and complete CFP Board-approved coursework at a college or university through a CFP Board Registered Program. The coursework covers the financial planning subject areas CFP Board has determined are necessary for the competent and professional delivery of financial planning services, as well as a comprehensive financial plan development capstone course. A candidate may satisfy some of the coursework requirement through other qualifying credentials. CFP Board implemented the bachelor’s degree or higher requirement in 2007 and the financial planning development capstone course requirement in March 2012. Therefore, a CFP® Professional who first became certified before those dates may not have earned a bachelor’s or higher degree or completed a financial planning development capstone course. • Examination – Pass the comprehensive CFP® Certification Examination. The examination is designed to assess an individual’s ability to integrate and apply a broad base of financial planning knowledge in the context of real-life financial planning situations. • Experience – Complete 6,000 hours of Professional experience related to the personal financial planning process, or 4,000 hours of apprenticeship experience that meets additional requirements. • Ethics – Satisfy the Fitness Standards for Candidates for CFP® Certification and Former CFP® Professionals Seeking Reinstatement and agree to be bound by CFP Board’s Code of Ethics and Standards of Conduct (“Code and Standards”), which sets forth the ethical and practice standards for CFP® Professionals. Individuals who become certified must complete the following ongoing education and ethics requirements to remain certified and maintain the right to continue to use the CFP Board. Certification Marks: • Ethics – Commit to complying with CFP Board’s Code and Standards. This includes a commitment to CFP Board, as part of the certification, to act as a fiduciary, and therefore, act in the best interests of the Client, at all times when providing financial advice and financial planning. CFP Board may sanction a CFP® Professional who does not abide by this commitment, but CFP Board does not guarantee a CFP® Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 17  Professional’s service. A Client who seeks a similar commitment should obtain a written engagement that includes a fiduciary obligation to the Client. • Continuing Education – Complete 30 hours of continuing education every two years to maintain competence, demonstrate specified levels of knowledge, skills, and abilities, and keep up with developments in financial planning. Two of the hours must address the Code and Standards. Retirement Income Certified Professional (RICP®) The RICP ® is offered by The American College and is designed for advanced financial professionals who either have one of the other top financial services credentials or who specifically focus their practices on retirement income planning. To receive the RICP ® designation, one must have 3 years of full time professional business experience, successfully complete all courses in the selected program, meet ethics standards, and agree to comply with The American College Code of Ethics and Procedures. The designation also requires 15 hours of continuing education every 2 years. Chartered Financial Consultant® (ChFC®) The Chartered Financial Consultant® (ChFC®) program prepares you to meet the advanced financial planning needs of individuals, professionals and small business owners. You'll gain a sustainable advantage in this competitive field with in-depth coverage of the key financial planning disciplines, including insurance, income taxation, retirement planning, investments and estate planning. The ChFC® requires three years of full-time, relevant business experience, nine two-hour course specific proctored exams, and 30 hours of continuing education every two years. Holders of the ChFC® designation must adhere to The American College’s Code of Ethics. Program Objectives: • Function as an ethical, competent and articulate practitioner in the field of financial planning • Utilize the intellectual tools and framework needed to maintain relevant and current financial planning knowledge and strategies. • Apply financial planning theory and techniques through the development of case studies and solutions. • Apply in-depth knowledge in a holistic manner from a variety of disciplines; namely, estate planning, retirement planning or non-qualified deferred compensation. Item 3 – Disciplinary Information There are no legal, civil or disciplinary events to disclose regarding Mr. Smith. Mr. Smith has never been involved in any regulatory, civil or criminal action. There have been no client complaints, lawsuits, arbitration claims or administrative proceedings against Mr. Smith. Securities laws require an advisor to disclose any instances where the advisor or its advisory persons have been found liable in a legal, regulatory, civil or arbitration matter that alleges violation of securities and other statutes; fraud; false statements or omissions; theft, embezzlement or wrongful taking of property; bribery, forgery, counterfeiting, or extortion; and/or dishonest, unfair or unethical practices. As previously noted, there are no legal, civil or disciplinary events to disclose regarding Mr. Smith. However, we do encourage you to independently view the background of Mr. Smith on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with his full name or his Individual CRD# 4231653. Item 4 – Other Business Activities Broker-Dealer Affiliation Mr. Smith is also a registered representative of Purshe Kaplan Sterling Investments (“PKS”). PKS is a registered broker-dealer (CRD# 35747), member FINRA, SIPC. In Mr. Smith’s separate capacity as a registered representative, Mr. Smith will receive commissions for the implementation of recommendations for commissionable transactions. Clients are not obligated to implement any recommendation provided by Mr. Smith. Neither the Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 18  Advisor nor Mr. Smith will earn ongoing investment advisory fees in connection with any products or services implemented in Mr. Smith’s separate capacity as a registered representative. Mr. Smith spends approximately 5% of his time per month in his role as a registered representative of PKS. Insurance Agency Affiliation Mr. Smith is also a licensed insurance professional. Implementations of insurance recommendations are separate and apart from Mr. Smith’s role with SWP. As an insurance professional, Mr. Smith will receive customary commissions and other related revenues from the various insurance companies whose products are sold. Mr. Smith is not required to offer the products of any particular insurance company. Commissions generated by insurance sales do not offset regular advisory fees. This practice presents a conflict of interest in recommending certain products of the insurance companies. Clients are under no obligation to implement any recommendations made by Mr. Smith or the Advisor. Mr. Smith spends approximately 5% of his time per month in this capacity. Item 5 – Additional Compensation Mr. Smith has additional business activities where compensation is received that are detailed in Item 4 above. Item 6 – Supervision Mr. Smith serves as the Managing Member & Chief Compliance Officer of SWP. Mr. Smith can be reached at (858) 768-0096. SWP has implemented a Code of Ethics, an internal compliance document that guides each Supervised Person in meeting their fiduciary obligations to Clients of SWP. Further, SWP is subject to regulatory oversight by various agencies. These agencies require registration by SWP and its Supervised Persons. As a registered entity, SWP is subject to examinations by regulators, which may be announced or unannounced. SWP is required to periodically update the information provided to these agencies and to provide various reports regarding the business activities and assets of the Advisor. Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 19  Form ADV Part 2B – Brochure Supplement for Allison S. Wooton, APMA®, RICP®, CRPC® Financial Advisor Effective: April 22, 2026 This Form ADV 2B (“Brochure Supplement”) provides information about the background and qualifications of Allison S. Wooton, APMA®, RICP®, CRPC® (CRD# 4990072) in addition to the information contained in the SWP Financial LLC dba Salient Wealth Planning (“SWP” or the “Advisor”, CRD# 327885) Disclosure Brochure. If you have not received a copy of the Disclosure Brochure or if you have any questions about the contents of the SWP Disclosure Brochure or this Brochure Supplement, please contact us at (858) 768-0096. Additional information about Mrs. Wooton is available on the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with her full name or her Individual CRD# 4990072. Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 20  Item 2 – Educational Background and Business Experience Allison S. Wooton, APMA®, RICP®, CRPC®, born in 1978, is dedicated to advising Clients of SWP as a Financial Advisor. Mrs. Wooton earned a High School Diploma from Santa Cruz High School in 1996. Mrs. Wooton attended Cabrillo College in 1998. Additional information regarding Mrs. Wooton’s employment history is included below. Employment History: Financial Advisor, SWP Financial LLC dba Salient Wealth Planning Registered Representative, Purshe Kaplan Sterling Investments Inc. Registered Representative, Ameriprise Financial Service, Inc. 10/2023 to Present 10/2023 to Present 7/2010 to 10/2023 Accredited Portfolio Management Advisor (APMA®): Individuals who hold the APMA ® designation have completed a course of study encompassing client assessment and suitability, risk/return, investment objectives, bond and equity portfolios, modern portfolio theory and investor psychology. Students have hands-on practice in analyzing investment policy statements, building portfolios, and making asset allocation decisions including sell, hold, and buy decisions within a client’s portfolio. Additionally, individuals must pass an end-of-course examination that tests their ability to synthesize complex concepts and apply theoretical concepts to real-life situations. All designees have agreed to adhere to Standards of Professional Conduct and are subject to a disciplinary process. Designees renew their designation every 2 years by completing 16 hours of continuing education, reaffirming adherence to the Standards of Professional Conduct and complying with self- disclosure requirements. Retirement Income Certified Professional (RICP®) The RICP ® is offered by The American College and is designed for advanced financial professionals who either have one of the other top financial services credentials or who specifically focus their practices on retirement income planning. To receive the RICP ® designation, one must have 3 years of full time professional business experience, successfully complete all courses in the selected program, meet ethics standards, and agree to comply with The American College Code of Ethics and Procedures. The designation also requires 15 hours of continuing education every 2 years. Chartered Retirement Planning Counselor (CRPC®) The CRPC® is offered by The College for Financial Planning®. The CRPC® Program focuses on the pre- and post- retirement needs of individuals. Enrollment in the program guides you through the retirement process, addressing issues such as estate planning and asset management. The College for Financial Planning® awards the Chartered Retirement Planning Counselor SM and CRPC® designation to students who: successfully complete the program; pass the final examination; and comply with the Code of Ethics, which includes agreeing to abide by the Standards of Professional Conduct promulgated by The College for Financial Planning®. Applicants must also disclose of any criminal, civil, self-regulatory organization, or governmental agency inquiry, investigation, or proceeding relating to their professional or business conduct. Conferment of the designation is contingent upon the College for Financial Planning’s review of matters either self-disclosed or which are discovered by the College that are required to be disclosed. Successful students receive a certificate and are granted the right to use the designation on correspondence and business cards for a two-year period. Continued use of the CRPC® designation is subject to ongoing renewal requirements. Every two years individuals must renew their right to continue using the CRPC® designation by: completing 16 hours of continuing education and reaffirming to abide by the Standards of Professional Conduct, Terms and Conditions, and self-disclose any criminal, civil, self- regulatory organization, or governmental agency inquiry, investigation, or proceeding relating to their professional or business conduct. Item 3 – Disciplinary Information There are no legal, civil or disciplinary events to disclose regarding Mrs. Wooton. Mrs. Wooton has never been involved in any regulatory, civil or criminal action. There have been no client complaints, lawsuits, arbitration claims or administrative proceedings against Mrs. Wooton. Securities laws require an advisor to disclose any instances where the advisor or its advisory persons have been found liable in a legal, regulatory, civil or arbitration matter that alleges violation of securities and other statutes; Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 21  fraud; false statements or omissions; theft, embezzlement or wrongful taking of property; bribery, forgery, counterfeiting, or extortion; and/or dishonest, unfair or unethical practices. As previously noted, there are no legal, civil or disciplinary events to disclose regarding Mrs. Wooton. However, we do encourage you to independently view the background of Mrs. Wooton on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with her full name or her Individual CRD# 4990072. Item 4 – Other Business Activities Broker-Dealer Affiliation Mrs. Wooton is also a registered representative of Purshe Kaplan Sterling Investments Inc. (“PKS”). PKS is a registered broker-dealer (CRD# 35747), member FINRA, SIPC. In Mrs. Wooton’s separate capacity as a registered representative, Mrs. Wooton will receive commissions for the implementation of recommendations for commissionable transactions. Clients are not obligated to implement any recommendation provided by Mrs. Wooton. Neither the Advisor nor Mrs. Wooton will earn ongoing investment advisory fees in connection with any products or services implemented in Mrs. Wooton’s separate capacity as a registered representative. Mrs. Wooton spends approximately 5% of her time per month in her role as a registered representative of PKS. Insurance Agency Affiliation Mrs. Wooton is also a licensed insurance professional. Implementations of insurance recommendations are separate and apart from Mrs. Wooton’s role with SWP. As an insurance professional, Mrs. Wooton will receive customary commissions and other related revenues from the various insurance companies whose products are sold. Mrs. Wooton is not required to offer the products of any particular insurance company. Commissions generated by insurance sales do not offset regular advisory fees. This practice presents a conflict of interest in recommending certain products of the insurance companies. Clients are under no obligation to implement any recommendations made by Mrs. Wooton or the Advisor. Mrs. Wooton spends approximately 5%of her time per month in this capacity. Item 5 – Additional Compensation Mrs. Wooton has additional business activities where compensation is received that are detailed in Item 4 above. Item 6 – Supervision Mrs. Wooton serves as a Financial Advisor of SWP and is supervised by Philip Smith, the Chief Compliance Officer. Mr. Smith can be reached at (858) 768-0096. SWP has implemented a Code of Ethics, an internal compliance document that guides each Supervised Person in meeting their fiduciary obligations to Clients of SWP. Further, SWP is subject to regulatory oversight by various agencies. These agencies require registration by SWP and its Supervised Persons. As a registered entity, SWP is subject to examinations by regulators, which may be announced or unannounced. SWP is required to periodically update the information provided to these agencies and to provide various reports regarding the business activities and assets of the Advisor. Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 22  Form ADV Part 2B – Brochure Supplement for Richard J. Vertucci, CRPC® Financial Advisor Effective: April 22, 2026 This Form ADV 2B (“Brochure Supplement”) provides information about the background and qualifications of Richard J. Vertucci, CRPC® (CRD# 6442611) in addition to the information contained in the SWP Financial LLC dba Salient Wealth Planning (“SWP” or the “Advisor”, CRD# 327885) Disclosure Brochure. If you have not received a copy of the Disclosure Brochure or if you have any questions about the contents of the SWP Disclosure Brochure or this Brochure Supplement, please contact us at (858) 768-0096. Additional information about Mr. Vertucci is available on the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with his full name or his Individual CRD# 6442611. Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 23  Item 2 – Educational Background and Business Experience Richard J. Vertucci, CRPC®, born in 1991, is dedicated to advising Clients of SWP as a Financial Advisor. Mr. Vertucci earned an Associate's degree, General Studies from Fulton-Montgomery Community College in 2010. Mr. Vertucci also earned a Bachelor of Arts Degree from St. John’s University in 2013. Additional information regarding Mr. Vertucci’s employment history is included below. Employment History: Financial Advisor, SWP Financial LLC dba Salient Wealth Planning Registered Representative, Ameriprise Finanical Services, Inc. 10/2023 to Present 10/2019 to 10/2023 Chartered Retirement Planning Counselor (CRPC®) The CRPC® is offered by The College for Financial Planning®. The CRPC® Program focuses on the pre- and post- retirement needs of individuals. Enrollment in the program guides you through the retirement process, addressing issues such as estate planning and asset management. The College for Financial Planning® awards the Chartered Retirement Planning Counselor SM and CRPC® designation to students who: successfully complete the program; pass the final examination; and comply with the Code of Ethics, which includes agreeing to abide by the Standards of Professional Conduct promulgated by The College for Financial Planning®. Applicants must also disclose of any criminal, civil, self-regulatory organization, or governmental agency inquiry, investigation, or proceeding relating to their professional or business conduct. Conferment of the designation is contingent upon the College for Financial Planning’s review of matters either self-disclosed or which are discovered by the College that are required to be disclosed. Successful students receive a certificate and are granted the right to use the designation on correspondence and business cards for a two-year period. Continued use of the CRPC® designation is subject to ongoing renewal requirements. Every two years individuals must renew their right to continue using the CRPC® designation by: completing 16 hours of continuing education and reaffirming to abide by the Standards of Professional Conduct, Terms and Conditions, and self-disclose any criminal, civil, self- regulatory organization, or governmental agency inquiry, investigation, or proceeding relating to their professional or business conduct. Item 3 – Disciplinary Information There are no legal, civil or disciplinary events to disclose regarding Mr. Vertucci. Mr. Vertucci has never been involved in any regulatory, civil or criminal action. There have been no client complaints, lawsuits, arbitration claims or administrative proceedings against Mr. Vertucci. Securities laws require an advisor to disclose any instances where the advisor or its advisory persons have been found liable in a legal, regulatory, civil or arbitration matter that alleges violation of securities and other statutes; fraud; false statements or omissions; theft, embezzlement or wrongful taking of property; bribery, forgery, counterfeiting, or extortion; and/or dishonest, unfair or unethical practices. As previously noted, there are no legal, civil or disciplinary events to disclose regarding Mr. Vertucci. However, we do encourage you to independently view the background of Mr. Vertucci on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with his full name or his Individual CRD# 6442611. Item 4 – Other Business Activities Insurance Agency Affiliation Mr. Vertucci is also a licensed insurance professional. Implementations of insurance recommendations are separate and apart from Mr. Vertucci’s role with SWP. As an insurance professional, Mr. Vertucci will receive customary commissions and other related revenues from the various insurance companies whose products are sold. Mr. Vertucci is not required to offer the products of any particular insurance company. Commissions generated by insurance sales do not offset regular advisory fees. This practice presents a conflict of interest in recommending certain products of the insurance companies. Clients are under no obligation to implement any recommendations made by Mr. Vertucci or the Advisor. Mr. Vertucci spends approximately 5% of his time per month in this capacity. Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 24  Item 5 – Additional Compensation Mr. Vertucci has additional business activities where compensation is received that are detailed in Item 4 above. Item 6 – Supervision Mr. Vertucci serves as a Financial Advisor of SWP and is supervised by Philip Smith, the Chief Compliance Officer. Mr. Smith can be reached at (858) 768-0096. SWP has implemented a Code of Ethics, an internal compliance document that guides each Supervised Person in meeting their fiduciary obligations to Clients of SWP. Further, SWP is subject to regulatory oversight by various agencies. These agencies require registration by SWP and its Supervised Persons. As a registered entity, SWP is subject to examinations by regulators, which may be announced or unannounced. SWP is required to periodically update the information provided to these agencies and to provide various reports regarding the business activities and assets of the Advisor. Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 25  Privacy Policy Effective: April 22, 2026 Our Commitment to You SWP Financial LLC dba Salient Wealth Planning (“SWP” or the “Advisor”) is committed to safeguarding the use of personal information of our Clients (also referred to as “you” and “your”) that we obtain as your Investment Advisor, as described here in our Privacy Policy (“Policy”). Our relationship with you is our most important asset. We understand that you have entrusted us with your private information, and we do everything that we can to maintain that trust. SWP (also referred to as "we", "our" and "us”) protects the security and confidentiality of the personal information we have and implements controls to ensure that such information is used for proper business purposes in connection with the management or servicing of our relationship with you. SWP does not sell your non-public personal information to anyone. Nor do we provide such information to others except for discrete and reasonable business purposes in connection with the servicing and management of our relationship with you, as discussed below. Details of our approach to privacy and how your personal non-public information is collected and used are set forth in this Policy. Why you need to know? Registered Investment Advisors (“RIAs”) must share some of your personal information in the course of servicing your account. Federal and State laws give you the right to limit some of this sharing and require RIAs to disclose how we collect, share, and protect your personal information. What information do we collect from you? Driver’s license number Date of birth Social security or taxpayer identification number Assets and liabilities Name, address and phone number[s] Income and expenses E-mail address[es] Investment activity Account information (including other institutions) Investment experience and goals What Information do we collect from other sources? Custody, brokerage and advisory agreements Other advisory agreements and legal documents Transactional information with us or others Account applications and forms Investment questionnaires and suitability documents Other information needed to service account How do we protect your information? To safeguard your personal information from unauthorized access and use we maintain physical, procedural and electronic security measures. These include such safeguards as secure passwords, encrypted file storage and a secure office environment. Our technology vendors provide security and access control over personal information and have policies over the transmission of data. Our associates are trained on their responsibilities to protect Client’s personal information. We require third parties that assist in providing our services to you to protect the personal information they receive from us. Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 26  How do we share your information? An RIA shares Client personal information to effectively implement its services. In the section below, we list some reasons we may share your personal information. Basis For Sharing Do we share? Can you limit? Yes No No Not Shared Yes Yes No Not Shared Servicing our Clients We may share non-public personal information with non-affiliated third parties (such as administrators, brokers, custodians, regulators, credit agencies, other financial institutions) as necessary for us to provide agreed upon services to you, consistent with applicable law, including but not limited to: processing transactions; general account maintenance; responding to regulators or legal investigations; and credit reporting. Marketing Purposes SWP does not disclose, and does not intend to disclose, personal information with non-affiliated third parties to offer you services. Certain laws may give us the right to share your personal information with financial institutions where you are a customer and where SWP or the client has a formal agreement with the financial institution. We will only share information for purposes of servicing your accounts, not for marketing purposes. Authorized Users Your non-public personal information may be disclosed to you and persons that we believe to be your authorized agent[s] or representative[s]. Information About Former Clients SWP does not disclose and does not intend to disclose, non-public personal information to non-affiliated third parties with respect to persons who are no longer our Clients. Changes to our Privacy Policy We will send you a copy of this Policy annually for as long as you maintain an ongoing relationship with us. Periodically we may revise this Policy and will provide you with a revised Policy if the changes materially alter the previous Privacy Policy. We will not, however, revise our Privacy Policy to permit the sharing of non-public personal information other than as described in this notice unless we first notify you and provide you with an opportunity to prevent the information sharing. Any Questions? You may ask questions or voice any concerns, as well as obtain a copy of our current Privacy Policy by contacting us at (858) 768-0096. Salient Wealth Planning 171 Saxony Road; Suite #211, Encinitas, CA 92024 Phone: (858) 768-0096 https://www.salientwealthplanning.com/ Page 27