Client Relationship Summary Introduction Our firm, Perennial Investment Advisors, LLC, is an investment adviser registered with the Securities and Exchange Commission. We feel that it is important for you to understand how advisory and brokerage services and fees differ in order to determine which type of account is right for you. There are free and simple tools available to research firms and financial professionals at www.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 are a registered investment adviser that offers investment advisory services, including Asset Management, Wrap Asset Management, and Financial Planning & Consulting to clients. If you open an advisory account with our firm, we’ll meet with you to understand your current financial situation, existing resources, objectives, and risk tolerance. Based on what we learn, we’ll recommend a portfolio of investments that is monitored at least annually, and if necessary, rebalanced to meet your changing needs and goals. We’ll offer you advice on a regular basis and contact you at least annually to discuss your portfolio. Our firm’s financial professionals are registered representatives of LPL Financial LLC (“LPL”), an SEC registered broker-dealer and investment adviser. Your financial professional may offer you brokerage services through LPL or investment advisory services through our firm. Brokerage services and investment advisory services are different, and the fees our firm and LPL charge for those services are different. It is important that you understand the differences. In particular, your financial professional may earn additional transaction-based compensation and have additional conflicts of interest as a result of providing brokerage services through LPL. You are encouraged to learn more about LPL by reviewing LPL’s relationship summary at: https://adviserinfo.sec.gov/firm/brochure/6413 and having a discussion with your financial professional. You can also access free and simple tools to help you research firms and financial professionals at Investor.gov/CRS, which also provides educational materials about broker-dealers, investment advisers, and investing. You can select in our agreement whether we are allowed to buy and sell investments in your account without asking you in advance (“discretion”) or only after receiving your permission (“non-discretion”). If you select non-discretion, you make the ultimate decision regarding the purchase or sale of investments. Any limitations will be described in the signed advisory agreement. We will have discretion or non-discretion until the advisory agreement is terminated by you or our firm. We do not restrict our advice to limited types of products or investments. Nor do we impose requirements for opening and maintaining accounts or otherwise engaging us. Financial Planning & Consulting is also offered as a separate service for a flat or hourly fee. We do not monitor your investments for the Financial Planning & Consulting service. Conversation Starters:Given my financial situation, should I choose an investment advisory service? 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 those qualifications mean? Additional information about our advisory services are in Item 4 of our Firm Brochure and Item 5 of our Wrap Brochure, which are available online at https://adviserinfo.sec.gov/firm/brochure/286477. What fees will I pay? You will be charged an ongoing quarterly fee based on the value of the assets in your account. Our maximum Asset Management and Wrap Asset Management services’ annual fee is 2.00%. The more assets you have in your advisory account, the more you will pay us. We therefore have an incentive to increase the assets in your advisory account in order to increase our fees. Our fees vary and are negotiable. The amount you pay will depend, for example, on the services you receive and the amount of assets in your account. Our firm’s fees will be automatically deducted from your advisory account, which will reduce the value of your advisory account. In rare cases, we will agree to send you invoices rather than automatically deduct our fees from your advisory account. Our maximum flat fee is $10,000 and our maximum hourly rate is $350 for our Financial Planning & Consulting service. We charge an upfront retainer of 50% of the ultimate financial planning or consulting fee when you sign an agreement for this service. The broker-dealer that holds your assets charges you a transaction fee when we buy or sell an investment for you. The broker-dealer’s transaction fees are in addition to our firm’s fees for our Asset Management service. However, we pay the broker-dealer’s transaction fees charged to you for our Wrap Asset Management service. The fees for wrap fee programs are therefore higher than a typical asset-based advisory fee. You may also pay charges imposed by the broker-dealer holding your accounts for certain investments and maintaining your account. Some investments, such as mutual funds, index funds, and exchange traded funds charge additional fees that will reduce the value of your investments over time. In certain cases, we may select third party money managers, sub-advisers, and/or separate account managers to assist us with managing your account. If selected, they will charge you a fee, which will be described to you in their Form ADV and/or agreement. You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying. A Question to Ask Us:Help me understand how these fees and costs may 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? Additional information about our fees is in Item 5 of our Firm Brochure and Item 4 of our Wrap Brochure, which are available online at https://adviserinfo.sec.gov/firm/brochure/286477. 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 are some examples to help you understand what this means: Our firm’s financial professionals include licensed insurance agents who sell insurance products for a commission. They have an incentive to recommend insurance products to you in order to increase their compensation. For our wrap services, we pay the broker-dealer’s transaction fees charged to you except for certain exchange traded funds, which do not have transaction fees. As a result, we have an incentive to recommend these asset types without transaction fees in order to reduce the amount of the broker-dealer’s transaction fees that we will have to pay on your behalf. A Question to Ask Us:How might your conflicts of interest affect me, and how will you address them? Additional information about our conflicts of interest is in Item 10 of our Firm Brochure and Item 9 of our Wrap Brochure, which are available online at https://adviserinfo.sec.gov/firm/brochure/286477. How do your financial professionals make money? Our financial professionals are compensated based on the revenue our firm earns from their advisory services or recommendations, the amount of client assets they service, and the time and complexity required to meet a client’s needs. Do you or your financial professionals have legal or disciplinary history? Yes, our firm and/or financial professionals have legal and disciplinary history. Visit Investor.gov/CRS for a free and simple search tool to research our firm and our financial professionals. Questions to Ask Us:As a financial professional, do you have any disciplinary history?For what type of conduct? Additional Information You can find additional information about our firm’s investment advisory services on the SEC’s website at www.adviserinfo.sec.gov by searching CRD #286477. You may also contact our firm at (424) 442-2580 to request a copy of this relationship summary and other up-to-date information. Questions to Ask Us: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?