Tanglewood Total Wealth Management, Inc.

Tanglewood Total Wealth Management Inc. is a registered investment adviser founded in 1979 by John F. Merrill, offering professional money management and financial planning services. The firm provides two main relationships: "Wealth Management" and "Tanglewood Investment Management." Wealth Management clients receive personalized financial planning services at no additional charge, while Investment Management clients receive turnkey investment management. The minimum assets under management for Wealth Management clients is $2,000,000, with a minimum annual fee of $14,000. For Investment Management clients, the minimum assets under management are $500,000. Tanglewood exercises discretion over client investments, primarily in liquid investments such as bonds, mutual funds, ETFs, and cash. The firm reviews accounts quarterly and has an Investment Committee responsible for asset allocation decisions. Tanglewood recommends Charles Schwab & Co., Inc. as the custodian for client assets. The firm does not engage in directed brokerage and has procedures in place to ensure proper reporting and compliance. Clients receive detailed monthly reports from the custodian and quarterly reports from Tanglewood. Tanglewood has a Code of Ethics, provides proxy voting services, and has a Contingency and Disaster Recovery Plan in place. Clients can contact the Chief Compliance Officer, Keith Fenstad, for any questions or clarifications.