Wolf Financial Advisors LLC

WOLF FINANCIAL ADVISORS, LLC 2930 COURT STREET PEKIN, IL 61554 (309) 346-1106 June 2026 This Brochure provides information about the qualifications and business practices of Wolf Financial Advisors, LLC ("WFA'). If you have any questions about the contents of the Brochure, please contact James S. Wolf, WFA’s principal, at (309) 346-1106. 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. WFA is registered as an Investment Advisor with the United States Securities and Exchange Commission. Registration as an investment Adviser does not imply any level of skill or training. The oral and written communications of an investment advisor provide you with information about which you determine to hire or retain an investment advisor. Additional information about WFA is also available on the SEC's website at www.adviserinfo.sec.gov. You can search this site by a unique identifying number, known as a CRD number. The CRD number for WFA is 146080. 1  Item 2: Material Changes The following material changes have been made to this Disclosure Brochure since filing the last annual amendment in March 2026: • • • • Item 5 – WFA has a new fee schedule for the firm’s Investment Advisory Management Services as of July 1, 2026. See Item 5 for the new tiered fee schedule. Item 5 – Advisory fees will be debited from the client’s advisory account, not paid by check. Item 5 - Financial planning services are offered on an hourly basis at a rate of $150 per hour, previous $120 per hour. Item 5 and 16 – Wolf Financial Advisors provides management services on a discretionary basis only. Future Changes: From time to time, we may amend this Disclosure Brochure to reflect changes in our business practices, changes in regulations and routine annual updates as required by the securities regulators. This complete Disclosure Brochure or a Summary of Material Changes shall be provided to each Client annually and if a material change occurs in the business practices of WFA. At any time, you may view the current Disclosure Brochure on-line at the SEC's Investment Adviser Public Disclosure website at http://www.adviserinfo.sec.gov by searching for our firm name or by our CRD number 146080. You may also request a copy of this Disclosure Brochure at any time, by contacting us at (309) 346-1106. 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 Business ............................................................................................................... 4 Item 5- Fees and Compensation .................................................................................................... 6 Item 6 - Performance-Based Fees and Side-By-Side Management. ............................................ 7 Item 7 - Types of Clients ................................................................................................................... 8 Item 8 - Methods of Analysis, Investment Strategies and Risk of Loss......................................... 8 Item 9 - Disciplinary Information ...................................................................................................... 10 Item 10 - Other Financial Industry Activities and Affiliations ......................................................... 10 Item 11 - Code of Ethics, Participation in Client Transactions and Personal Trading ................. 11 Item 12 - Brokerage Practices ......................................................................................................... 12 Item 13 - Review of Accounts ........................................................................................................... 14 Item 14 - Client Referrals and Other Compensation ...................................................................... 14 Item 15 - Custody.................................................................................................................. ……….14 Item 16 - Investment Discretion ....................................................................................................... 14 Item 17 - Voting Client Securities ..................................................................................................... 15 Item 18 - Financial Information ........................................................................................................ 15 ADV Part 2B ......................................................................................................................................15 3  Item 4: Advisory Business Description of Advisory Firm Wolf Financial Advisors (“WFA”) is a Limited Liability Company organized in the State of Illinois. We were founded in January 2007. The firm's principal owner is James S. Wolf who is CEO and Chief Investment Officer and Chief Compliance Officer. WFA filed its initial application to become registered as in investment adviser with the U.S. Securities and Exchange Commission in March 2025, which was accepted on April 21, 2025. As of December 31, 2025, the firm manages $124,856,762 in assets that are managed on a non-discretionary basis. Types of Advisory Services Financial Planning We provide financial planning services on topics such as retirement planning, risk management, college savings, cash flow, debt management, work benefits and estate / gift planning. Financial planning involves an evaluation of a client's current and future financial state by using currently known variables to predict future cash flows, asset values and withdrawal plans. The key defining aspect of financial planning is that through the financial planning process, all questions, information and analysis will be considered as they affect and are affected by the entire financial and life situation of the client. Clients purchasing this service will receive a verbal and / or written report providing the client with a financial plan designed to achieve his or her stated financial goals and objectives. In general, the financial plan will address any and all of the following areas of concern. The client and advisor will work together to select the specific areas to cover. These areas may include, but are not limited to the following: • Business Planning: We provide consulting services for clients who currently operate their own business; are considering starting a business or are planning for an exit from their current business. Under this type of engagement, we work with you to assess your current situation, identify your objectives, and develop a plan aimed at achieving your goals. • Cash Flow and Debt Management: We will conduct a review of your income and expenses to determine your current surplus or deficit along with advice on prioritizing how any surplus should be used or how to reduce expenses if they exceed your income. Advice may also be provided on which debts to pay off first based on factors such as the interest rate of the debt and any income tax ramifications. We may also recommend what we believe to be an appropriate cash reserve that should be considered for emergencies and other financial goals, along with a review of accounts (such as money market funds) for such reserves, plus strategies to save desired amounts. • College Savings: Includes projecting the amount that will be needed to achieve college or post-secondary education funding goals, along with advice on ways for you to save the desired amount. Recommendations as to savings strategies are included, 4  and, if needed, we will review your financial picture as it relates to eligibility for financial aid or the best way to contribute to grandchildren (if appropriate). • Employee Benefits Optimization: We will provide review and analysis as to whether you, as an employee, are taking the maximum advantage possible of your employee benefits. If you are a business owner, we will consider and/or recommend various benefit programs that can be structured to meet both business and personal retirement goals. • Estate Planning; This usually includes an analysis of your exposure to estate taxes and your current estate plan, which may include whether you have a will, powers of attorney, trusts and other related documents. Our advice also typically includes ways for you to minimize or avoid future estate taxes by implementing appropriate estate planning strategies such as the use of applicable trusts. We always recommend that you consult with a qualified attorney when you initiate, update or complete estate planning activities. We may provide you with contact information for attorneys who specialize in estate planning when you wish to hire an attorney for such purposes. From time to time, we will participate in meetings or phone calls between you and your attorney with your approval or request. • Financial Goals: We will help clients identify goals and develop a plan to reach them. We will identify what you plan to accomplish, what resources you will need to make it happen, how much time you will need to reach the goal, and how much you should budget for your goal. • Insurance: Review of existing policies to ensure proper coverage for life, health, disability, long-care, liability, home and automobile. • Investment Analysis: This may involve developing an asset allocation strategy to meet clients' financial goals and risk tolerance, providing information on investment vehicles and strategies, reviewing employee stock options, as well as assisting you in establishing your own investment account at a selected broker/dealer or custodian. The strategies and types of investments we may recommend are further discussed in item 8 of this brochure. • Retirement Planning: Our retirement planning services typically include projections of your likelihood of achieving your financials goals, typically focusing on financial independence as the primary objective. For situations where projections show less than the desired results, we may make recommendations, including those that may impact the original projections by adjusting certain variables (e.g., working longer, saving more, spending less, taking more risk with Investments). If you are near retirement or already retired, advice may be on appropriate distribution strategies to minimize the likelihood of running out of money or having to adversely alter spending during your retirement years. • Risk Management: A risk management review includes an analysis of your exposure to major risks that could have a significant adverse impact on your financial picture, such as premature death, disability, property and casualty losses, or the need for long-term care planning. Advice may be provided on ways to minimize such risks and 5  about weighting the costs of purchasing insurance versus the benefits of doing so and, likewise, the potential cost of not purchasing insurance ("self-insuring"). • Tax Planning Strategies: Advice may include ways to minimize current and future income taxes as a part of your overall financial planning picture. For example, we may make recommendations on which type of account(s) or specific investments should be owned based in part on their "tax efficiency", with consideration that there is always a possibility of future changes to federal, state or local tax laws and rates that may impact your situation. • In certain situations, we may recommend that you consult with a qualified tax attorney who specializes in this area. We will participate in meetings or phone calls between you and the attorney with your approval. Investment Advisory Services We are in the business of managing individually tailored investment portfolios. Our firm provides continuous advice to a client regarding the investment of client funds based on the individual needs of the client. Through personal discussions in which goals and objectives based on a client's particular circumstances are established, we develop a client's personal investment policy or an investment plan with an asset allocation target and create and manage a portfolio based on that policy and allocation target. During our data-gathering process, we determine the client's individual objectives, time horizons, risk tolerance, and liquidity needs. We may also review and discuss a client's prior investment history, as well as family composition and background. Account supervision is guided by the stated objectives of the client (i.e., maximum capital appreciation, growth, income, or growth and income), as well as tax considerations. Clients may impose reasonable restrictions on investing in certain securities, types of securities, or industry sectors. Fees pertaining to this service are outlined in Item 5 of this brochure. Income Tax Preparation Services These services are provided under a separate and distinct agreement for income tax preparation. Client Tailored Services and Client Imposed Restrictions We offer the same suite of services to all of our clients. However, specific client financial plans and their implementations are dependent upon the client Investment Policy Statement {where utilized) which outlines each client's current situation (income, tax levels, and risk tolerance levels) and is used to construct a client specific plan to aid in the selection of a portfolio that matches restrictions, needs, and targets. Wrap Fee Programs We do not participate in wrap fee programs. Item 5: Fees and Compensation Please note, unless a client has received the firm's disclosure brochure at least 48 hours prior to signing the investment advisory contract, the investment advisory contract may be terminated by the client within five (5) business days of signing the contract without incurring any advisory fees. How we are paid depends on the type of advisory services we are performing. Please review the fee and compensation information below. 6  Investment Advisory Services WFA’s advisory fee for discretionary investment management services is based on a percentage of the assets in said client accounts, and these fees may range up to but not exceed 0.3% of assets under management. Unless negotiated otherwise, WFA charges clients a quarterly fee based on the value of the account(s) on the last day of the calendar quarter, See the fee schedule below. Assets Under Management First $1,000,000 Next $6,000,000 Above $7,000,000 Annual Advisory Fee 0.30% 0.20% Negotiated WFA advisory fee is billed in arrears (after end of quarter) and is payable quarterly. New additions of securities will be prorated for the quarter in the fee calculation. The fee calculation is “blended”, meaning that at the end of each quarter, the total value of the client account will be charged a fee based on the tiers in which the values fall for a “blended” fee. Certain assets in a client account may be excluded from the fee calculation as agreed to by the client. Clients’ fees will be withdrawn directly from their account(s) and paid to WFA. Advisory fees may be negotiated, depending on the individual client(s) needs and circumstances. As part of WFA's investment advisory services to client, WFA may and in most cases does invest in mutual funds and exchange traded funds (ETFs). The fees that a client pays to WFA are for investment advisory services and are separate and distinct from the fees and expenses charged by mutual funds or ETFs (described in each fund's prospectus to their shareholders). These fees will generally include a management fee and other fund expenses. Hourly Financial Planning Financial planning may be offered on an hourly basis at a rate of $150 per hour. The fee may be negotiable in certain cases and is due at the completion of the engagement. In the event of early termination by the client, any fees for the hours already worked will be due. Other Types of Fees and Expenses Our fees are exclusive of brokerage commissions, transaction fees, and other related costs and expenses which may be incurred by the client. Clients may incur certain charges imposed by custodians, brokers, and other third parties such as custodial fees, deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage accounts and securities transactions. Mutual fund and exchange traded funds also charge internal management fees, which are disclosed in a fund's prospectus. Such charges, fees and commissions are exclusive of and in addition to our fee, and we shall not receive any portion of these commissions, fees, and costs. Item 6: Performance-Based Fees and Side-By-Side Management We do not charge performance-based fees or conduct side-by-side management. 7  Item 7: Types of Clients We provide financial planning and investment advisory services to individuals and high net worth individuals. We are also available to serve as an adviser to certain retirement plans. We do not have minimum account size requirements. Item 8: Methods of Analysis, Investment Strategies and Risk of Loss When clients engage us to provide investment advisory services or to complete an investment analysis (described in Item 4 of this brochure) as part of their financial plan, our primary strategy is passive investment management. Passive Investment Management We primarily practice passive investment management. Passive investing involves building portfolios that are comprised of various distinct asset classes. The asset classes are weighted in a manner to achieve a desired relationship between correlation, risk and return. Funds that passively capture the returns of the desired asset classes are placed in the portfolio. The funds that are used to build passive portfolios are typically index mutual funds or exchange traded funds. Passive investment management is characterized by low portfolio expenses (i.e. the funds inside the portfolio have low internal costs), minimal trading costs (due to infrequent trading activity), and relative tax efficiency (because the funds inside the portfolio are tax efficient and turnover inside the portfolio is minimal). WFA's investment advice is based on long-term investment strategies incorporating the principles of Modern Portfolio Theory (MPT). MPT does not employ market timing or stock selection methods of investing but rather a long-term, buy-and-hold strategy with periodic rebalancing of the account to maintain desired risk levels. In contrast, active management involves a single manager or managers who employ some method, strategy or technique to construct a portfolio that is intended to generate returns that are greater than the broader market or a designated benchmark. Academic research indicates most active managers underperform the market. Material Risks Involved All investing strategies we offer involve risk and may result in a loss of your original investment which you should be prepared to bear. Many of these risks apply equally to stocks, bonds, commodities and any other investment or security. Material risks associated with our investment strategies are listed below. Market Risk: Market risk involves the possibility that an investment's current market value will fall because of a general market decline, reducing the value of the investment regardless of the operational success of the issuer's operations or its financial condition. Strategy Risk: The Adviser's investment strategies and/or investment techniques may not work as intended. 8  Small and Medium Cap Company Risk: Securities of companies with small and medium market capitalizations are often more volatile and less liquid than investments in larger companies. Small and medium cap companies may face a greater risk of business failure, which could increase the volatility of the client's portfolio. Turnover Risk: At times, the strategy may have a portfolio turnover rate that is higher than other strategies. A high portfolio turnover would result in correspondingly greater brokerage commission expenses and may result in the distribution of additional capital gains for tax purposes. These factors may negatively affect the accounts’ performance. Limited Markets: Certain securities may be less liquid (harder to sell or buy) and their prices may at times be more volatile than at other times. Under certain market conditions we may be unable to sell or liquidate investments at prices we consider reasonable or favorable or find buyers at any price. Concentration Risk: Certain investment strategies focus on particular asset-classes, industries, sectors or types of investment. From to time these strategies may be subject to greater risks of adverse developments in such areas of focus than a strategy that is more broadly diversified across a wider variety of investments. Interest Rate Risk: Bond (fixed income) prices generally fall when interest rates rise, and the value may fall below par value or the principal investment. The opposite is also generally true: bond prices generally rise when interest rates fall. In general, fixed income securities with longer maturities are more sensitive to these price changes. Most other investments are also sensitive to the level and direction of interest rates. Legal or Legislative Risk: Legislative changes or Court rulings may impact the value of investments, or the securities' claim on the issuer's assets and finances. Inflation: Inflation may erode the buying power of your investment portfolio, even if the dollar value of your investments remains the same. Risks Associated with Securities Apart from the general risks outlined above which apply to all types of investments, specific securities may have other risks. Commercial Paper is, in most cases, an unsecured promissory note that is issued with a maturity of 270 days or less. Being unsecured the risk to the investor is that the issuer may default. Common Stocks may go up and down in price quite dramatically, and in the event of an issuer's bankruptcy or restructuring could lose all value. A slower growth or recessionary economic environment could have an adverse effect on the price of all stocks. Corporate Bonds are debt securities to borrow money. Generally, issuers pay investors periodic interest and repay the amount borrowed either periodically during the life of the security and/or at maturity. Alternatively, investors can purchase other debt securities, such as zero-coupon bonds, which do not pay current interest, but rather are priced at a discount from their face values and their values accrete over time to face value at maturity. The market prices of debt securities fluctuate depending on such factors as interest rate, credit quality, and maturity. In general, market prices of debt securities decline when interest rates rise and increase when interest rates fall. The longer the time to a bond's maturity, the greater its 9  interest rate risk. Bank Obligations including bonds and certificates of deposit may be vulnerable to setbacks or panics in the banking industry. Banks and other financial institutions are greatly affected by interest rates and may be adversely affected by downturns in the U,S. and foreign economies or changes in banking regulations. Municipal Bonds are debt obligations generally issued to obtain funds for various public purposes, including the construction of public facilities. Municipal bonds pay a lower rate of return than most other types of bonds. However, because of a municipal bond's tax-favored status, investors should compare the relative after-tax return to the after-tax return of other bonds, depending on the investor's tax bracket. Investing in municipal bonds carries the same general risks as investing in bonds in general. Those risks include interest rate risk, inflation risk, market risk, call or redemption risk, credit risk, and liquidity and valuation risk. Exchange Traded Funds may vary significantly from the Net Asset Value due to market conditions. Certain Exchange Traded Funds may not track underlying benchmarks as expected. Investment Companies Risk When a client invests in open end mutual funds or ETFs, the client indirectly bears its proportionate share of any fees and expenses payable directly by those funds. Therefore, the client will incur higher expenses, many of which may be duplicative. In addition, the client's overall portfolio may be affected by losses of an underlying fund and the level of risk arising from the investment practices of an underlying funds (such as the use of derivatives). ETFs are also subject to the following risks: (i) an ETF's shares may trade at a market price that is above or below their net asset value; (ii) the ETF may employ an investment strategy that utilizes high leverage ratios; or (iii) trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate, the shares are de-listed from the exchange, or the activation of market-wide "circuit breakers" (which are tied to large decreases in stock prices) halts stock trading generally. The Adviser has no control over the risks taken by the underlying funds in which clients invest. Item 9: Disciplinary Information Criminal or Civil Actions WFA and its management have not been involved in any criminal or civil action. Administrative Enforcement Proceedings WFA and its management have not been involved in administrative enforcement proceedings. Self-Regulatory Organization Enforcement Proceedings WFA and its management have not been involved in legal or disciplinary events that are material to a client's or prospective client's evaluation of WFA or the integrity of its management. Item 10: Other Financial Industry Activities and Affiliations No WFA employee is registered, or has an application pending to register, as a broker-dealer or a registered representative of a broker-dealer. 10  No WFA employee is registered, or has an application pending to register, as a futures commission merchant, commodity pool operator or a commodity trading advisor. WFA does not have any related parties. As a result, we do have a relationship with any related parties. WFA only receives compensation directly from clients. We do not receive compensation from any outside source. James Wolf, Managing Member and investment adviser representative of WFA, is also an Accountant. If WFA determines that a client is in need of tax or accounting services, the client will be referred to James Wolf for such services. In addition, if accounting or tax clients of James Wolf are in need of financial planning or other advisory services, James Wolf can refer or recommend investment advisory services available through WFA. No referral fees are paid when clients are referred to or from James Wolf in his separate capacity as an accountant. Clients are not obligated in any manner to use the accounting services of James Wolf. Item 11: Code of Ethics, Participation or Interest in Client Transactions and Personal Trading As a fiduciary, our firm and its associates have a duty of utmost good faith to act solely in the best interest of each client. Our clients entrust us with their funds and personal information, which in turn places a high standard on our conduct and integrity. Our fiduciary duty is a core aspect of our Code of Ethics and represents the expected basis of all our dealings. The firm accepts the obligation not only to comply with mandates and requirements of all applicable laws and regulations but also to take responsibility to act in an ethical and professionally responsible manner in all professional services and activities. Code of Ethics Description This code does not attempt to identify all possible conflicts of interest, and literal compliance with each of its specific provisions will not shield associated persons from liability for personal trading or other conduct that violates a fiduciary duty to advisory clients. A summary of the Code of Ethics' Principles is outlined below. • Integrity -Associated persons shall offer and provide professional services with integrity. • Objectivity -Associated persons shall be objective in providing professional services to clients. • Competence - Associated persons shall provide services to clients competently and maintain the necessary knowledge and skill to continue to do so in those areas in which they are engaged. • Fairness - Associated persons shall perform professional services in a manner that is fair and reasonable to clients, principals, partners, and employers, and shall disclose conflict(s) of interest in providing such services. 11  • Confidentiality - Associated persons shall not disclose confidential client information without the specific consent of the client unless in response to proper legal process, or as required by law. • Professionalism - Associated persons' conduct in all matters shall reflect credit on the profession. • Diligence - Associated persons shall act diligently in providing professional services. We periodically review and amend our Code of Ethics to ensure that it remains current, and we require all firm access persons to attest to their understanding of and adherence to the Code of Ethics at least annually. Our firm will provide a copy of its Code of Ethics to any client or prospective client upon request. Investment Recommendations Involving a Material Financial Interest and Conflicts of Interest Neither our firm, its associates or any related person is authorized to recommend to a client, or effect a transaction for a client, involving any security in which our firm or a related person has a material financial interest, such as in the capacity as an underwriter, adviser to the issuer, etc. Advisory Firm Purchase of Same Securities Recommended to Clients and Conflicts of Interest. Since we recognize that our employees should have an opportunity to develop investment programs for themselves and their families, our Code of Ethics does not prohibit personal trading by employees. As a result, our personnel may purchase or sell the same or similar securities for their own accounts that we purchase, sell or recommend for client accounts. Trading Securities At/Around the Same Time as Client's Securities Because our firm and its "related persons" may invest in the same securities, or related securities, e.g., warrants, options or futures, which we recommend to clients, they may trade in securities at or around the same time as clients Item 12: Brokerage Practices Factors Used to Select Custodians and/or Broker-Dealers WFA does not have any affiliation with Broker-Dealers. Specific custodian recommendations are made to clients based on their need for such services. We recommend custodians based on the reputation and services provided by the firm. 1. Research and Other Soft-Dollar Benefits We currently do not receive soft dollar benefits. 2. Brokerage for Client Referrals 12  We receive no referrals from a broker-dealer or third party in exchange for using that broker dealer third party. 3. Clients Directing Which Broker/Dealer/Custodian to Use We do recommend a specific custodian for clients to use, however, clients may custody their assets at a custodian of their choice. Clients may also direct us to use a specific broker dealer to execute transactions. By allowing clients to choose a specific custodian, we may be unable to achieve most favorable execution of client transaction and this may cost clients money over using a lower-cost custodian. The Custodian and Brokers We Use WFA does not maintain custody of your assets that we manage. Your assets must be maintained in an account at a "qualified custodian," generally a broker-dealer or bank. We may recommend that our clients use Charles Schwab & Co., Inc. (Charles Schwab) or possibly Vanguard, member FINRA/SIPC, as the qualified custodian. We are independently owned and operated and are not affiliated with Charles Schwab or Vanguard. They will both hold your assets in a brokerage account and buy and sell securities when we and/or you instruct them to. While we may recommend that you use Charles Schwab or Vanguard as custodian/broker, you will decide whether to do so and will open your account with Charles Schwab / Vanguard by entering into an agreement directly with them. We do not open the account for you, although we may assist you in doing so. If you do not wish to place your assets with either Charles Schwab or Vanguard, then we likely cannot manage your account. Your Brokerage and Custody Costs For our clients' accounts that Charles Schwab and Vanguard maintain, Charles Schwab and Vanguard generally do not charge you separately for custody services. We have determined that having Charles Schwab and Vanguard execute trades is consistent with our duty to seek "best execution" of your trades. Best execution means the most favorable terms for a transaction based on all relevant factors, including those listed above (see "Factors Used to Select Custodians and/or Broker-Dealers"). Services Available to Us via Charles Schwab and Vanguard Through its participation in Charles Schwab and Vanguard adviser programs, WFA receives economic benefits that are typically not available to Charles Schwab and Vanguard retail investors. These benefits include the following products and services (provided without cost): receipt of duplicate statements and confirmations, research related products and tools, and access to electronic communications network for client order entry and account information. The benefits received by WFA or its personnel through participation in the program do not depend on the amount of brokerage transactions directed to Charles Schwab and Vanguard. As part of its fiduciary duties to clients, WFA endeavors at all times to put the interests of its clients first. Aggregating (Block) Trading for Multiple Client Accounts We do not combine multiple orders for shares of the same securities purchased for advisory accounts we manage (this practice is commonly referred to as "block trading"). Consequently, certain client trades may be executed before others, at a different price. Additionally, our clients may not receive volume discounts available to advisers who block client trades. Many investment advisors do aggregate, or block trades for their clients. This does not diminish our 13  duty to act in the best interests of our clients, including seeking best execution of trades for client accounts. Item 13: Review of Accounts Client accounts with WFA will be reviewed regularly and often on a semi-annual basis by James Wolf, Principal and COO. The account is reviewed with regards to the client's investment policies and risk tolerance levels. Events that may trigger a special review would be unusual performance, addition or deletions of client-imposed restrictions, excessive draw-down, volatility in performance, or buy and sell decisions from the firm or per client's needs. Clients will receive trade confirmations from the broker(s) for each transaction in their accounts as well as monthly or quarterly statements and annual tax reporting statements from the custodian showing all activity in the accounts, such as receipt of dividends and interest. Item 14: Client Referrals and Other We do not receive any economic benefit, directly or indirectly, from any third party for advice rendered to our clients. Nor do we, directly or indirectly, compensate any person who is not WFA advisory personnel for client referrals. We receive a non-economic benefit from Charles Schwab and Vanguard 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 Charles Schwab and Vanguard. These services, how they benefit us, and the related conflicts of interest are described above (see Item 12-Brokerage Practices). The availability to us of Charles Schwab and Vanguard products or services is not based on us giving particular investment advice, such as buying particular securities for our clients. Item 15: Custody WFA does not accept custody of client funds. Clients should receive at least quarterly statements from the broker dealer, bank or other qualified custodian that holds and maintains client's investment assets. We urge you to carefully review such statements and compare such official custodial records to the account statements or reports that we may provide to you. Our statements or reports may vary from custodial statements based on accounting procedures, reporting dates, or valuation methodologies of certain securities. Item 16: Investment Discretion When providing asset management services, WFA maintains trading authorization over your account and can provide management services on a discretionary basis. When discretionary authority is granted, we will have the authority to determine the type of securities and the amount of securities that can be bought or sold for your portfolio without obtaining your consent for each transaction. You will have the ability to place reasonable restrictions on the types of investments that may be purchased in your account. You may also place reasonable limitations on the discretionary 14  power granted to WFA so long as the limitations are specifically set forth or included as an attachment to the client agreement. Item 17: Voting Client Securities We do not vote Client proxies. Therefore, Clients maintain exclusive responsibility for: (1) voting proxies, and (2) acting on corporate actions pertaining to the Client's investment assets. The Client shall instruct the Client's qualified custodian to forward to the Client copies of all proxies and shareholder communications relating to the Client's investment assets. If the client would like our opinion on a particular proxy vote, they may contact us at the number listed on the cover of this brochure. In most cases, you will receive proxy materials directly from the account custodian. However, in the event we were to receive any written or electronic proxy materials, we would forward them directly to you by mail, unless you have authorized our firm to contact you by electronic mail, in which case, we would forward you any electronic solicitation to vote proxies. Item 18: Financial Information Registered Investment Advisers are required in this item to provide you with certain financial information or disclosures about our financial condition. We have no financial commitment that impairs our ability to meet contractual and fiduciary commitments to clients, and we have not been the subject of bankruptcy proceeding. We do not have custody of client funds or securities nor do we require or solicit prepayment of fees of $1200 or more by clients 6 months or more in advance. ADV Part 2B – Brochure Supplement James Wolf Born: 1945 Educational Background • 1968 Bachelor of Business Administration, Accounting, University of Oklahoma • 1972 Master of Arts, Accounting, University of Missouri at Columbia Business Experience January 1980 - December 2006, Wolf, Tesar & Company, Partner • May 1972 - September 1978, Arthur Young & Company, Tax Manager • October 1978 - December 1979, James Wolf CPA, Owner • • August 2007 - March 2019, City of Pekin, Illinois Treasurer (part-time position) January 2007 - Present, Wolf Financial Advisors LLC, Principal and COO • Professional Designations, Licensing & Exams Certified Public Accountant (CPA) is the title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA. Personal Financial Specialist (PFS) 15  Issued by: The American Institute of Certified Public Accountants (AICPA) Prerequisites/Experience Required: Candidate must meet all of the following requirements: • Be a member of the AICPA; • Hold an unrevoked CPA certificate issued by a state authority; • Earn at least 100 points under the PFS point system. For example, 30 points are awarded for each year of 1,200 hours of experience; up to 40 points are awarded for passing various exams; one point is awarded for three CPE credits, etc. Educational Requirements: CPA plus personal financial planning specific education Examination Type: Final Certification Exam Continuing Education/Experience Requirements: A combined total of 60 PFS points in personal financial planning business experience and qualified "life-long learning" activities every 3 years. Chartered Financial Consultant (ChFC) Issued by: The American College Prerequisites/Experience Required: 3 years of full-time business experience within the five years preceding the awarding of the designation Educational Requirements: 6 core and 2 elective courses Examination Type: Final proctored exam for each course Continuing Education/Experience Requirements: 30 CE credits every 2 years FINRA Series 65: Uniform Investment Adviser Law Examination Other Business Activities James Wolf also provides tax preparation, accounting, and business consulting services separately from his role as a Registered Investment Adviser. This activity accounts for approximately 20% of his time annually and is concentrated largely in the January - April of the year timeframe. Material Disciplinary Disclosures No management person at Wolf Financial Advisors LLC has ever been involved in an arbitration claim of any kind or been found liable in a civil, self-regulatory organization, or administrative proceeding. Additional Compensation James Wolf does not receive any economic benefit from any person, company, or organization, in exchange for providing clients advisory services through Wolf. Supervision James Wolf, as Principal and Chief Compliance Officer (COO), is responsible for supervision. He may be contacted at the phone number on this brochure supplement. 16