Kennon Financial

Client Relationship Summary – June 2020

Kennon Financial (“Kennon”) is an investment adviser registered with the U.S. Securities and Exchange Commission.
Investment advisory and brokerage services and fees differ; therefore, it is important for you to understand the
differences.

Free and simple tools are available to research firms and financial professionals at Investor.gov/CRS, which also provides
educational materials about investment advisers, broker-dealers, and investing.

What investment services and advice can you provide me?

We offer investment advisory services to retail investors. Asset management services include portfolio management by
Kennon. As part of our standard services, we monitor our clients’ portfolio holdings and the overall asset allocation
strategy on a quarterly basis, or when market conditions or other triggers would warrant a review. Triggers include a
change of investment objectives, a change in employment, or a change in recommended asset allocation weightings

We offer our asset management services on a discretionary basis. Discretionary asset management allows us the limited
authority to buy and sell investments in your account without asking you each time a transaction is placed. Our level of
authority is determined at the beginning of our relationship with you in our advisory agreement but can be changed
upon request.

While we can advise on any investment asset, our investment recommendations are primarily related to investments in
exchange traded funds (ETFs). We do not have any minimum requirements for opening or maintaining accounts for
retail investors.

For additional Information, please see our Form ADV Part 2A (with special emphasis on Items 4, 7, and 16) which can
be obtained by calling us at 941-556-6307.

Conversation Starters – Ask Your Financial Professional:
Given my financial situation, should I choose investment advisory services? Why or why not?

How will you choose investments to recommend to me?

What is your relevant experience, including your licenses, education and other qualifications? What do
these qualifications mean?

What fees will I pay?
Principal Fees: We are compensated for providing the investment advisory services by charging an ongoing asset-based
fee that ranges up to 1.00% per annum depending on the type and complexity of the investment management strategy
employed as well as the size of the account or overall client relationship. The fees are charged quarterly in advance.
With asset-based fees, the more assets there are in your advisory account, the more you will pay in fees, and we may
therefore have an incentive to encourage you to increase the assets in your account.

Other Fees and Costs: Kennon’s fees are exclusive of brokerage commissions, transaction fees, and other related costs
and expenses which shall be incurred by the client. You may also incur certain charges imposed by custodians, brokers,
custodial fees, wire transfer and electronic fund fees, and other fees and taxes on brokerage accounts and securities
transactions. Mutual funds and ETFs also charge internal management fees, which are disclosed in the funds’
prospectuses. These fees will generally include a management fee and other fund expenses. All fees paid to us for
investment advisory services are separate and distinct from the fees and expenses charged by mutual funds and ETFs to
their shareholders.

Additional Information: You will pay fees and costs whether you make or lose money on your investments. Fees and
costs will reduce the amount of money you make on your investments over time. Please make sure you understand
what fees and costs you are paying. More detailed information about our fees and costs are included in our Form ADV
Part 2A (Item 5).

Kennon Financial
Conversation Starter – Ask Your Financial Professional:
Help me understand how these fees and costs might affect my investments. If I give you $10,000 to
invest, how much will go to fees and costs, and how much will be invested for me?
What are your legal obligations to me when acting as my investment adviser? How else does
your firm make money and what conflicts of interest do you have?

When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours.
At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us
about these conflicts because they can affect the investment advice we provide you. Here is an example to help you
understand what this means.
Investment Advisor Representatives (IARs) of Kennon are also licensed and registered as insurance agents to sell various
insurance products. Therefore, they will be able to purchase insurance products for clients in need of such services and
will receive separate, yet typical commission compensation for the purchase of those products. While the IARs are
required as fiduciaries to put the interest of the clients first, the receipt of additional compensation itself creates a
conflict of interest. You are under no obligation to purchase insurance products through Kennon or its IARs. These
arrangements and additional information about other conflicts of interest are discussed in more detail in our Form
ADV Part 2A.
Conversation Starter – Ask Your Financial Professional:
How might your conflicts of interest affect me, and how will you address them?
How do your financial professionals make money?

Our IARs are compensated through the receipt of a portion of revenue we receive for the advisory services we provide.
The portion paid to your IAR generally does not vary based on the type of investments that are recommended.
Do you or your financial professionals have legal or disciplinary history?
Yes. We invite you to visit Investor.gov/CRS for a free and simple search tool to research our Firm and financial
professionals.

Conversation Starter – Ask Your Financial Professional:
As a financial professional, do you have any disciplinary history? For what type of conduct?
We encourage you to seek out additional information about our investment advisory services in our Form ADV
Brochure on Investor.gov or adviserinfo.sec.gov (CRD# 301130). Alternatively, you can call us at 941-556-6307 to
speak with us directly to request up-to-date information and request a copy of the relationship summary.
Conversation Starters – Ask Your Financial Professional:
Who is my primary contact person?
Is he or she a representative of an investment adviser or a broker-dealer?
Who can I talk to if I have concerns about how this person is treating me?