0000910472-13-000110.txt : 20130111 0000910472-13-000110.hdr.sgml : 20130111 20130111131030 ACCESSION NUMBER: 0000910472-13-000110 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 6 FILED AS OF DATE: 20130111 DATE AS OF CHANGE: 20130111 EFFECTIVENESS DATE: 20130111 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Northern Lights Fund Trust CENTRAL INDEX KEY: 0001314414 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-122917 FILM NUMBER: 13524937 BUSINESS ADDRESS: STREET 1: 450 WIRELESS BOULEVARD CITY: HAUPPAUGE STATE: NY ZIP: 11788 BUSINESS PHONE: 631-470-2600 MAIL ADDRESS: STREET 1: 450 WIRELESS BOULEVARD CITY: HAUPPAUGE STATE: NY ZIP: 11788 FORMER COMPANY: FORMER CONFORMED NAME: Northern Lights Trust DATE OF NAME CHANGE: 20050113 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Northern Lights Fund Trust CENTRAL INDEX KEY: 0001314414 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-21720 FILM NUMBER: 13524938 BUSINESS ADDRESS: STREET 1: 450 WIRELESS BOULEVARD CITY: HAUPPAUGE STATE: NY ZIP: 11788 BUSINESS PHONE: 631-470-2600 MAIL ADDRESS: STREET 1: 450 WIRELESS BOULEVARD CITY: HAUPPAUGE STATE: NY ZIP: 11788 FORMER COMPANY: FORMER CONFORMED NAME: Northern Lights Trust DATE OF NAME CHANGE: 20050113 0001314414 S000039555 Pacific Financial Alternative Strategies Fund C000121985 Pacific Financial Alternative Strategies Fund Institutional Class Shares C000121986 Pacific Financial Alternative Strategies Fund Investor Class Shares 0001314414 S000039556 Pacific Financial Flexible Growth & Income Fund C000121987 Pacific Financial Flexible Growth & Income Fund Institutional Class Shares C000121988 Pacific Financial Flexible Growth & Income Fund Investor Class Shares 0001314414 S000039557 Pacific Financial Balanced Fund C000121989 Pacific Financial Balanced Fund Institutional Class Shares C000121990 Pacific Financial Balanced Fund Investor Class Shares 0001314414 S000039558 Pacific Financial Foundational Asset Allocation Fund C000121991 Pacific Financial Foundational Asset Allocation Fund Institutional Class Shares C000121992 Pacific Financial Foundational Asset Allocation Fund Investor Class Shares 0001314414 S000039559 Pacific Financial Faith & Values Based Moderate Fund C000121993 Pacific Financial Faith & Values Based Moderate Fund Investor Class Shares C000121994 Pacific Financial Faith & Values Based Moderate Fund Institutional Class Shares 0001314414 S000039560 Pacific Financial Faith & Values Based Conservative Fund C000121995 Pacific Financial Faith & Values Based Conservative Fund Institutional Class Shares C000121996 Pacific Financial Faith & Values Based Conservative Fund Investor Class Shares 0001314414 S000039561 Pacific Financial Faith & Values Based Aggressive Fund C000121997 Pacific Financial Faith & Values Based Aggressive Fund Institutional Class Shares C000121998 Pacific Financial Faith & Values Based Aggressive Fund Investor Class Shares 485BPOS 1 f485bxbrl.htm 485B GemCom, LLC

Securities Act File No. 333-122917

ICA No. 811- 21720


As filed with the Securities and Exchange Commission January 11, 2013


SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549


FORM N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933


 

Pre-Effective Amendment No.  _______

 

[    ]

 

 

 

 

 

Post-Effective Amendment No. 448

 

[ X ]


and/or


REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940


 

Amendment No.   450

 

[ X ]


 (Check Appropriate Box or Boxes)

Northern Lights Fund Trust

(Exact Name of Registrant as Specified in Charter)


17605 Wright Street

Omaha, NE 68154-1150

Attention:  Michael Miola

 (Address of Principal Executive Offices)(Zip Code)


(402) 895-1600

 (Registrant's Telephone Number, Including Area Code)


The Corporation Trust Company

Corporate Trust Center

1209 Orange Street

Wilmington, DE 19801

(Name and Address of Agent for Service)


With a copy to:

 

 

JoAnn M. Strasser, Esq.

Thompson Hine LLP

41 South High Street, Suite 1700

Columbus, Ohio 43215

614-469-3265 (phone)

513-241-4771 (fax)

James P. Ash, Esq.

Gemini Fund Services, LLC

450 Wireless Blvd.

Hauppauge, New York 11788

(631) 470-2619 (phone)

(631) 813-2884 (fax)


 Approximate Date of Proposed Public Offering:


It is proposed that this filing will become effective (check appropriate box):

(X)  

immediately upon filing pursuant to paragraph (b).

(   )

on  (date) pursuant to paragraph (b).

(  )

60 days after filing pursuant to paragraph (a)(1).

(  )  

on (date) pursuant to paragraph (a)(1).

(  )  

75 days after filing pursuant to paragraph (a)(2).

(  )  

on (date) pursuant to paragraph (a)(2) of Rule 485.


If appropriate, check the following box:

(  ) this post-effective amendment designates a new effective date for a previously filed post-effective amendment.




This filing relates solely to the Pacific Financial Alternative Strategies Fund, Pacific Financial Flexible Growth & Income Fund, Pacific Financial Balanced Fund, Pacific Financial Foundational Asset Allocation Fund, Pacific Financial Faith & Values Based Conservative Fund, Pacific Financial Faith & Values Based Moderate Fund and Pacific Faith & Values Based Aggressive Fund , each a series of the Trust.


Signatures

Pursuant to the requirements of the Securities Act of 1933, as amended, and Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this registration statement under rule 485(b) under the Securities Act and has duly caused this Post-Effective Amendment No. 448 to the Registration Statement on Form N-1A to be signed on its behalf by the undersigned, duly authorized in the City of Hauppauge, State of New York on the 11th day of January, 2013.


NORTHERN LIGHTS FUND TRUST

(Registrant)


/s/ Andrew Rogers

By: Andrew Rogers,

President and Principal Executive Officer


Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.



Michael Miola*


Trustee & Chairman


January 11, 2013


John V. Palancia*


Trustee


January 11, 2013


Gary Lanzen*


Trustee


January 11, 2013

 

Anthony Hertl*


Trustee


January 11, 2013

 

Mark Taylor*


Trustee


January 11, 2013


/s/ Andrew Rogers

Andrew Rogers


President and Principal Executive Officer


January 11, 2013


Kevin Wolf*


Treasurer and Principal Accounting Officer


January 11, 2013

By:                                     Date:

/s/ James Ash       

January 11, 2013

James Ash

*Attorney-in-Fact – Pursuant to Powers of Attorney previously filed on April 1, 2011 to the Registrant’s Registration Statement in Post-Effective Amendment No. 234, and hereby incorporated by reference.





EXHIBIT INDEX

 

 

 

 

 

 

Index No.

  

Description of Exhibit

 

 

 

EX-101.INS

  

XBRL Instance Document

 

 

EX-101.SCH

  

XBRL Taxonomy Extension Schema Document

 

 

EX-101.DEF

  

XBRL Taxonomy Extension Definition Linkbase

 

 

EX-101.LAB

  

XBRL Taxonomy Extension Labels Linkbase

 

 

EX-101.PRE

  

XBRL Taxonomy Extension Presentation Linkbase





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Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund. Based on estimated amounts for the current fiscal year. Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund. Based on estimated amounts for the current fiscal year. Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund. Northern Lights Fund Trust 485BPOS false 0001314414 2012-04-30 2012-12-31 2012-12-31 2012-12-31 Pacific Financial Alternative Strategies Fund Portfolio Turnover: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"> &#160;The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). &#160;A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. &#160;These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. &#160; </p> Principal Risks: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><b><i>As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. &#160;Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.</i></b> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Commodities Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The value of commodities related investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, and tariffs. &#160;The prices of industrial metals, precious metals, agriculture, and livestock commodities may fluctuate widely due to factors such as changes in value, supply and demand, and governmental regulatory policies.</font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Company Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole. &#160;The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.</font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Currency Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The Fund's net asset value could decline as a result of changes in the exchange rates between foreign currencies and the U.S. dollar. Additionally, certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal and interest to investors located outside the country, due to blockage of foreign currency exchanges or otherwise. &#160;</font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Derivatives Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;Derivative instruments derive their value from the value of an underlying security, currency, or index. &#160;Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; risks of default by the other party to the derivative instrument; risks that the transactions may result in losses of all or in excess of any gain in the portfolio positions; and risks that the transactions may not be liquid.</font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Emerging Markets Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;In addition to the risks generally associated with investing in foreign securities, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues.</font> </p> <br/><p style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; MARGIN-BOTTOM: 13px; FONT-SIZE: 12pt"> <i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i><strike></strike></i></font><font style="FONT-FAMILY: Times New Roman"><i>ETF and Underlying Fund Risk</i></font> <font style="FONT-FAMILY: Times New Roman">.&#160; &#160;Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.&#160; As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.&#160; Each Underlying Fund is subject to specific risks, depending on its investments.</font><br /> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Foreign Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The Fund's performance may depend on issues other than the performance of a particular company or U.S. market sector. &#160;The values of foreign investments may be affected by changes in exchange control regulations, application of foreign tax laws (including withholding tax) changes in governmental administration or economic or monetary policy (in this country or abroad) or changed circumstances in dealings between nations. &#160;The value of foreign securities is also affected by the value of the local currency relative to the U.S. dollar.</font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Fixed Income Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;&#160;Typically, a rise in interest rates causes a decline in the value of the bond owned by the Fund. &#160;Other risk factors include credit risk, maturity risk, market risk, extension risk, illiquid security risks, foreign securities risk, and prepayment risk. &#160;In addition, bond ETFs and mutual funds, may invest in what are sometimes referred to as "junk bonds." Such securities are speculative investments that carry greater risks and are more susceptible to real or perceived adverse economic and competitive industry conditions than higher quality debt securities.</font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Futures and Options Risk</i></font><font style="FONT-FAMILY: Times New Roman">. &#160;The use of options, futures contracts or options on futures contracts for risk management or hedging purposes may not be successful, resulting in losses to the Fund. &#160;In addition, the cost of hedging may reduce the Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s returns, and the use of futures and options for investment purposes increases the Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s potential for loss.</font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Hedging Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;Although derivative instruments may be used to offset or hedge against losses on an opposite position, such hedges can also potentially offset any gains on the opposite position. The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss. &#160;The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.</font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Leverage Risk</i></font> <font style="FONT-FAMILY: Times New Roman">: &#160;&#160;The use of leverage may exaggerate changes in a Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s share price and the return on its investments. &#160;Accordingly, the value of the Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified. &#160;Any losses suffered by a leveraged Underlying Fund or the Fund as a result of the use of leverage could adversely affect the Fund&#8217;s net asset value and an investor could incur a loss in their investment in the Fund. &#160;Borrowing also leads to additional interest expense and other fees that increase the Fund&#8217;s expenses.</font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Limited History of Operations Risk</i> : &#160;The Fund is a new mutual fund and has a limited history of operations.</font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Managed Futures Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;Investing in managed futures exposes the Fund to management risk, derivatives risk, leverage risk, as well as commodity, interest rate, equity and foreign currency risks depending on the particular strategy used. &#160;A manager's judgments about the price appreciation of various futures contracts may prove incorrect and result in losses. The Fund's use of derivatives (including futures and options on futures) to enhance returns or hedge against market declines is subject to the risk of mispricing or improper valuation and changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index. &#160;Investments in derivatives may involve leverage, which means a small percentage of assets invested in derivatives can have a disproportionately large impact. &#160;Commodity, interest rate, equity and foreign currency futures are subject to unfavorable price movements as well as specific risks described more fully in paragraphs above.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Management Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments. &#160;There is no guarantee that the adviser's investment strategy will produce the desired results.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Market Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time, and tend to be more volatile than other investment choices.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Portfolio Turnover Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;Portfolio turnover results in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Higher costs associated with increased portfolio turnover may offset gains in the Fund's performance.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Real Estate Risk</i></font><font style="FONT-FAMILY: Times New Roman">: Real estate related investments are subject to risks related to possible declines in the value of real estate; general and local economic conditions; possible lack of availability of mortgage funds; overbuilding; extended vacancies of properties; increases in competition, property taxes, and operating expenses; changes in zoning laws; costs resulting from the clean-up of, and liability to third parties for damages resulting from, environmental problems; casualty or condemnation losses; uninsured damages from floods, earthquakes, or other natural disasters; limitations on and variations in rents; and changes in interest rates.&#160;</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Small-Cap and Mid-Cap Securities Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The Fund may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies. &#160;Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies. &#160;Securities of these types of companies have limited market liquidity, and their prices may be more volatile. &#160;You should expect that the value of the Fund&#8217;s shares will be more volatile than a fund that invests exclusively in large-capitalization companies.</font></font> </p> As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. Principal Investment Strategies: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt">The Fund pursues its investment objective by implementing the strategies detailed below. &#160;Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process." &#160;The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus. &#160; &#160;The Fund may invest in other <strike/>investment compan ies, including ETFs (&#8220;Underlying Funds&#8221;). &#160;ETFs in which the Fund invests <strike/>typically <strike/>seek <strike/>to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index. &#160;&#160; </p> <br/><p style="MARGIN: 0px; FONT-SIZE: 12pt" align="justify"> <font style="BACKGROUND-COLOR: #ffffff">The Alternative Strategies Fund primarily invests in a variety of 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assets in U.S.</font> <font style="BACKGROUND-COLOR: #ffffff"><strike></strike></font><font style="BACKGROUND-COLOR: #ffffff">securities. &#160;</font> <font style="BACKGROUND-COLOR: #ffffff">The Fund may</font> <font style="BACKGROUND-COLOR: #ffffff">also</font> <font style="BACKGROUND-COLOR: #ffffff">have up to 100% of its assets invested in foreign securities, including, but not limited to, American depositary receipts (&#8220;ADRs&#8221;) and securities</font> <font style="BACKGROUND-COLOR: #ffffff">of foreign companies</font> <font style="BACKGROUND-COLOR: #ffffff"><strike></strike></font><font style="BACKGROUND-COLOR: #ffffff">, including</font> <font style="BACKGROUND-COLOR: #ffffff"><strike></strike></font><font style="BACKGROUND-COLOR: #ffffff">emerging markets</font> <font style="BACKGROUND-COLOR: #ffffff">securities</font> <font style="BACKGROUND-COLOR: #ffffff">. &#160;&#160;The Fund may invest in companies of any size (from small-cap to mid-cap to large-cap) and in any style (from growth to value)</font> <font style="BACKGROUND-COLOR: #ffffff">or from any geographic location, as well as currency-related securities or strategies. &#160;</font> <font style="BACKGROUND-COLOR: #ffffff"><strike></strike></font><font style="BACKGROUND-COLOR: #ffffff">The Fund may also invest in</font> <font style="BACKGROUND-COLOR: #ffffff"><strike></strike></font><font style="BACKGROUND-COLOR: #ffffff">leveraged ETFs or other Underlying Funds,</font> <font style="BACKGROUND-COLOR: #ffffff"><strike></strike></font><font style="BACKGROUND-COLOR: #ffffff">covered calls</font> <font style="BACKGROUND-COLOR: #ffffff"></font><font style="BACKGROUND-COLOR: #ffffff"><strike></strike></font><font style="BACKGROUND-COLOR: #ffffff">managed futures</font> <font style="BACKGROUND-COLOR: #ffffff">or illiquid securities, including up to 10% in hedge funds</font> <font style="BACKGROUND-COLOR: #ffffff"><strike></strike></font><font style="BACKGROUND-COLOR: #ffffff">. &#160;</font> <font style="BACKGROUND-COLOR: #ffffff"><strike></strike></font><font style="BACKGROUND-COLOR: #ffffff">The Fund may invest up to 10% of the Fund&#8217;s net assets in derivative securities of any kind. &#160;</font> <font style="BACKGROUND-COLOR: #ffffff"><strike></strike></font><font style="BACKGROUND-COLOR: #ffffff">&#160;&#160;</font> <font style="BACKGROUND-COLOR: #ffffff">The Fund&#8217;s investments in derivative securities are expected to consist primarily of future contracts on financial and commodity markets</font> <font style="BACKGROUND-COLOR: #ffffff">. &#160;</font> <font style="BACKGROUND-COLOR: #ffffff"><strike></strike></font><font style="BACKGROUND-COLOR: #ffffff">The Fund uses derivative investments</font> <font style="BACKGROUND-COLOR: #ffffff">and leveraged Underlying Funds</font> <font style="BACKGROUND-COLOR: #ffffff"><strike></strike></font><font style="BACKGROUND-COLOR: #ffffff">to obtain</font> <font style="BACKGROUND-COLOR: #ffffff"><strike></strike></font><font style="BACKGROUND-COLOR: #ffffff">leverage</font> <font style="BACKGROUND-COLOR: #ffffff">in order</font> <font style="BACKGROUND-COLOR: #ffffff"><strike></strike></font><font style="BACKGROUND-COLOR: #ffffff">to increase the potential return on an investment. &#160;&#160;The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments. &#160;</font> </p> <br/><p style="MARGIN: 0px; FONT-SIZE: 12pt" align="justify"> In selecting the Alternative Strategies Fund's positions, the adviser will use its proprietary investment research "Rational Analysis" processes, as described below. &#160;The particular allocation of positions will change from time to time as market forces and the Fund&#8217;s aggressive strategy dictates. &#160; <strike></strike>&#160;&#160;The adviser &#8217;s Rational Analysis uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions. &#160;Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model. &#160;The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective. </p> <br/><p style="TEXT-INDENT: 48px; MARGIN: 0px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Technical Analysis</i></font> <font style="FONT-FAMILY: Times New Roman">is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume. &#160;Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity. &#160;Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.</font> </p> <br/><p style="TEXT-INDENT: 48px; MARGIN: 0px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Fundamental Analysis</i></font> <font style="FONT-FAMILY: Times New Roman">is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors. &#160;Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks. &#160;Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.</font> </p> <br/><p style="TEXT-INDENT: 48px; MARGIN: 0px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Quantitative Studies</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The adviser uses mathematic analytics and modeling of portfolios. &#160;Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions. &#160;The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.</font> </p> Fees and Expenses of the Fund: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. </p> 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0100 0.0100 0.0025 0.0100 0.0058 0.0058 0.0080 0.0080 0.0263 0.0263 ~ http://nlft.com/20121231/role/ScheduleShareholderFees20001 column dei_LegalEntityAxis compact cik0001314414_S000039555Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://nlft.com/20121231/role/ScheduleAnnualFundOperatingExpenses20002 column dei_LegalEntityAxis compact cik0001314414_S000039555Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Based on estimated amounts for the current fiscal year. Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund. Based on estimated amounts for the current fiscal year. Shareholder Fees (fees paid directly from your investment) Performance: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. &#160;In the future, performance information will be presented in this section of the Prospectus. &#160;Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting <strike/>www.tpfg.com <strike/>or by calling <strike/>1-888-451-TPFG. <strike/></font> </p> Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. 1-888-451-TPFG www.tpfg.com Investment Objective: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"> The investment objective of the Fund is to seek long-term capital appreciation. &#160; </p> Example: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"> This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. &#160; </p> 266 817 341 1039 ~ http://nlft.com/20121231/role/ScheduleExpenseExampleTransposed20003 column dei_LegalEntityAxis compact cik0001314414_S000039555Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be: Pacific Financial Flexible Growth & Income Fund Portfolio Turnover: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> &#160;The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). &#160;A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. &#160;These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. &#160;</font> </p> Principal Risks: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"><b><i>As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. &#160;Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.</i></b></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Commodities Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The value of commodities related investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, and tariffs. &#160;The prices of industrial metals, precious metals, agriculture, and livestock commodities may fluctuate widely due to factors such as changes in value, supply and demand, and governmental regulatory policies.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Company Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole. &#160;The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Currency Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The Fund's net asset value could decline as a result of changes in the exchange rates between foreign currencies and the U.S. dollar. Additionally, certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal and interest to investors located outside the country, due to blockage of foreign currency exchanges or otherwise. &#160;</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Derivatives Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;Derivative instruments derive their value from the value of an underlying security, currency, or index. &#160;Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; risks of default by the other party to the derivative instrument; risks that the transactions may result in losses of all or in excess of any gain in the portfolio positions; and risks that the transactions may not be liquid.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Emerging Markets Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;In addition to the risks generally associated with investing in foreign securities, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>&#160;ETF and Underlying Fund Risk</i></font> <font style="FONT-FAMILY: Times New Roman">.&#160; &#160;Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.&#160; As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.&#160; Each Underlying Fund is subject to specific risks, depending on its investments.</font> <font style="FONT-FAMILY: Times New Roman"><i><strike></strike></i></font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Fixed Income Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;&#160;Typically, a rise in interest rates causes a decline in the value of the bond owned by the Fund. &#160;Other risk factors include credit risk, maturity risk, market risk, extension risk, illiquid security risks, foreign securities risk, and prepayment risk. &#160;In addition, bond ETFs and mutual funds, may invest in what are sometimes referred to as "junk bonds." Such securities are speculative investments that carry greater risks and are more susceptible to real or perceived adverse economic and competitive industry conditions than higher quality debt securities.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Futures and Options Risk</i></font><font style="FONT-FAMILY: Times New Roman">. &#160;The use of options, futures contracts or options on futures contracts for risk management or hedging purposes may not be successful, resulting in losses to the Fund. &#160;In addition, the cost of hedging may reduce the Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s returns, and the use of futures and options for investment purposes increases the Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s potential for loss.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Foreign Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The Fund's performance may depend on issues other than the performance of a particular company or U.S. market sector. &#160;The values of foreign investments may be affected by changes in exchange control regulations, application of foreign tax laws (including withholding tax) changes in governmental administration or economic or monetary policy (in this country or abroad) or changed circumstances in dealings between nations. &#160;The value of foreign securities is also affected by the value of the local currency relative to the U.S. dollar.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Hedging Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;Although derivative instruments may be used to offset or hedge against losses on an opposite position, such hedges can also potentially offset any gains on the opposite position. The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss. &#160;The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Leverage Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;&#160;The use of leverage may exaggerate changes in a Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s share price and the return on its investments. &#160;Accordingly, the value of the Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified. &#160;Any losses suffered by</font> <font style="FONT-FAMILY: Times New Roman">leveraged Underlying Funds or</font> <font style="FONT-FAMILY: Times New Roman"><strike></strike></font><font style="FONT-FAMILY: Times New Roman">the</font> <font style="FONT-FAMILY: Times New Roman">Fund as a result of the use of leverage could adversely affect the Fund&#8217;s net asset value and an investor could incur a loss in their investment in the Fund. &#160;Borrowing also leads to additional interest expense and other fees that increase the Fund&#8217;s expenses.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman">&#8226;<i>Limited History of Operations Risk <strike></strike>: &#160;The Fund is a new mutual fund and has a limited history of operation</i>s.</font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Managed Futures Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;Investing in managed futures exposes the Fund to management risk, derivatives risk, leverage risk, as well as commodity, interest rate, equity and foreign currency risks depending on the particular strategy used. &#160;A manager's judgments about the price appreciation of various futures contracts may prove incorrect and result in losses. The Fund's use of derivatives (including futures and options on futures) to enhance returns or hedge against market declines is subject to the risk of mispricing or improper valuation and changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index. &#160;Investments in derivatives may involve leverage, which means a small percentage of assets invested in derivatives can have a disproportionately large impact. &#160;Commodity, interest rate, equity and foreign currency futures are subject to unfavorable price movements as well as specific risks described more fully in paragraphs above.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Management Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments. &#160;There is no guarantee that the adviser's investment strategy will produce the desired results.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Market Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time, and tend to be more volatile than other investment choices.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Portfolio Turnover Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;Portfolio turnover results in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Higher costs associated with increased portfolio turnover may offset gains in the Fund's performance.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Real Estate Risk</i></font><font style="FONT-FAMILY: Times New Roman">: Real estate related investments are subject to risks related to possible declines in the value of real estate; general and local economic conditions; possible lack of availability of mortgage funds; overbuilding; extended vacancies of properties; increases in competition, property taxes, and operating expenses; changes in zoning laws; costs resulting from the clean-up of, and liability to third parties for damages resulting from, environmental problems; casualty or condemnation losses; uninsured damages from floods, earthquakes, or other natural disasters; limitations on and variations in rents; and changes in interest rates.&#160;</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Small-Cap and Mid-Cap Securities Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The Fund may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies. &#160;Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies. &#160;Securities of these types of companies have limited market liquidity, and their prices may be more volatile. &#160;You should expect that the value of the Fund&#8217;s shares will be more volatile than a fund that invests exclusively in large-capitalization companies.</font></font> </p> As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. Principal Investment Strategies: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> The Fund pursues its investment objective by implementing the strategies detailed below. &#160;Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process." &#160;The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus. &#160; The Fund may invest in other investment companies, including ETFs (&#8220;Underlying Funds&#8221;). &#160;ETFs in which the Fund invests typically <strike/>seek <strike/>to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index. &#160;&#160;</font> </p> <br/><p style="MARGIN: 0px; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman">The Flexible Growth &amp; Income Fund invests in a balanced portfolio of equity and fixed income securities through a variety of alternative strategies that the adviser believes can achieve the Fund&#8217;s investment objective by generating above average portfolio income and growth. &#160; Under normal circumstances, the Fund will invest at least 25% of its assets in equity securities and at least 25% of its assets in fixed income securities. &#160; This Fund is designed to have <strike></strike>an aggressive level of risk and may invest in <strike></strike>other open-end mutual funds, including ETFs, dividend producing closed-end mutual funds and listed securities (both equities and fixed income) of any capitalization-size or geographic location, as well as &#160;mortgage backed securities, mortgage REITs and Mortgage Investment Corporations, option strategies, long/short positions, managed futures, hedge funds, commodity- and currency-related securities or strategies and illiquid securities, including <strike></strike>invest up to <strike></strike>10% of its net assets in hedge funds. &#160;The Fund may also invest in leveraged Underlying Funds and up <strike></strike>to 10% of the Fund&#8217;s net assets in derivative securities of any kind. &#160;The Fund&#8217;s investments in derivative securities are expected to consist primarily of future contracts on financial and commodity markets . &#160; <strike></strike>The Fund uses derivative investments for leverage, to increase the potential return on an investment. &#160;&#160;The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments. &#160;While the Fund typically seeks to invest in investment grade fixed income securities (rated &#8220;BBB-&#8221; or better by S&amp;P), there is no minimum <strike></strike>credit quality or maturity and the Fund may invest in fixed income securities of any credit quality or maturity.</font> </p> <br/><p style="MARGIN: 0px; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman">In selecting the Flexible Growth &amp; Income Fund&#8217;s positions, the adviser will use its proprietary investment research "Rational Analysis" processes, as described below. &#160;The particular allocation of positions will change from time to time as market forces and the Fund&#8217;s aggressive strategy dictate. &#160; <strike></strike>The adviser &#8217;s Rational Analysis uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions. &#160;Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model. &#160;The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.</font> </p> <br/><p style="TEXT-INDENT: 48px; MARGIN: 0px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Technical Analysis</i></font> <font style="FONT-FAMILY: Times New Roman">is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume. &#160;Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity. &#160;Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.</font></font> </p> <br/><p style="TEXT-INDENT: 48px; 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Based on estimated amounts for the current fiscal year. Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund. Shareholder Fees (fees paid directly from your investment) Performance: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. &#160;In the future, performance information will be presented in this section of the Prospectus. &#160;Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. 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The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be: Pacific Financial Balanced Fund Portfolio Turnover: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> &#160;The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). &#160;A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. &#160;These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. &#160;</font> </p> Principal Risks: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"><b><i>As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. &#160;Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.</i></b></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Company Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole. &#160;The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Derivatives Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;Derivative instruments derive their value from the value of an underlying security, currency, or index. &#160;Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; risks of default by the other party to the derivative instrument; risks that the transactions may result in losses of all or in excess of any gain in the portfolio positions; and risks that the transactions may not be liquid.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Emerging Markets Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;In addition to the risks generally associated with investing in foreign securities, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>&#160;</i></font> <font style="FONT-FAMILY: Times New Roman"><i><strike></strike></i></font><font style="FONT-FAMILY: Times New Roman"><i>ETF and Underlying Fund Risk</i></font> <font style="FONT-FAMILY: Times New Roman">.&#160; &#160;Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.&#160; As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.&#160; Each Underlying Fund is subject to specific risks, depending on its investments.</font> <font style="FONT-FAMILY: Times New Roman"><strike></strike></font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Fixed Income Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;&#160;Typically, a rise in interest rates causes a decline in the value of the bond owned by the Fund. &#160;Other risk factors include credit risk, maturity risk, market risk, extension risk, illiquid security risks, foreign securities risk, and prepayment risk. &#160;In addition, bond ETFs and mutual funds, may invest in what are sometimes referred to as "junk bonds." 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The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss. &#160;The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Leverage Risk</i></font> <font style="FONT-FAMILY: Times New Roman">: &#160;&#160;The use of leverage may exaggerate changes in a Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s share price and the return on its investments. &#160;Accordingly, the value of the Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified. &#160;Any losses suffered by leveraged Underlying Funds</font> <font style="FONT-FAMILY: Times New Roman"><strike></strike></font><font style="FONT-FAMILY: Times New Roman">or the Fund as a result of the use of leverage could adversely affect the Fund&#8217;s net asset value and an investor could incur a loss in their investment in the Fund. &#160;Borrowing also leads to additional interest expense and other fees that increase the Fund&#8217;s expenses.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px" align="justify"> <font style="FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 12pt"><strike></strike></font><font style="FONT-SIZE: 12pt">&#8226;</font><font style="FONT-SIZE: 12pt"><i>Limited History of Operations</i> <font style="FONT-SIZE: 12pt">Risk</font></font> <font style="FONT-SIZE: 12pt">: &#160;The Fund is a new mutual fund and has a limited history of operations.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Management Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments. &#160;There is no guarantee that the adviser's investment strategy will produce the desired results.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Market Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time, and tend to be more volatile than other investment choices.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Portfolio Turnover Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;Portfolio turnover results in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Higher costs associated with increased portfolio turnover may offset gains in the Fund's performance.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Real Estate Risk</i></font><font style="FONT-FAMILY: Times New Roman">: Real estate related investments are subject to risks related to possible declines in the value of real estate; general and local economic conditions; possible lack of availability of mortgage funds; overbuilding; extended vacancies of properties; increases in competition, property taxes, and operating expenses; changes in zoning laws; costs resulting from the clean-up of, and liability to third parties for damages resulting from, environmental problems; casualty or condemnation losses; uninsured damages from floods, earthquakes, or other natural disasters; limitations on and variations in rents; and changes in interest rates.&#160;</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Small-Cap and Mid-Cap Securities Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The Fund may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies. &#160;Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies. &#160;Securities of these types of companies have limited market liquidity, and their prices may be more volatile. &#160;You should expect that the value of the Fund&#8217;s shares will be more volatile than a fund that invests exclusively in large-capitalization companies.</font></font> </p> As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. Principal Investment Strategies: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> The Fund pursues its investment objective by implementing the strategies detailed below. &#160;Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process." &#160;The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus. &#160; The Fund may invest in other investment companies, including ETFs (&#8220;Underlying Funds&#8221;). &#160;ETFs in which the Fund invests typically <strike/>seek <strike/>to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index.</font> </p> <br/><p style="MARGIN: 0px; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman">The Balanced Fund seeks to achieve its investment objective by investing in a balanced portfolio of fixed income and equity securities. &#160;Under normal circumstances, the Fund will invest at least 25% of its assets in equity securities and at least 25% of its assets in fixed income securities. &#160;The Fund will invest the fixed income portion of the portfolio directly or in other investment companies (including ETFs) that invest primarily in fixed income and income producing securities such as government bonds, corporate bonds, municipal bonds, and dividend-paying equity securities. &#160;While the Fund typically seeks to invest in investment grade fixed income securities (rated &#8220;BBB-&#8221; or better by S&amp;P), there is no minimum credit quality or maturity and the Fund may invest in fixed income securities of any credit quality or maturity. &#160; <strike></strike>The Fund will also invest in equity securities directly or through other investment companies (including ETFs) that invest in common stock of U.S. or foreign companies of any capitalization or geographic location and may invest in REITs . &#160; <strike></strike>T <strike></strike>he Fund may invest up to 40% in foreign investments, including ADRs, or securities of foreign companies, including emerging market <strike></strike>securities . &#160;The Fund may invest in leveraged Underlying Funds and up to 10% of the Fund&#8217;s net assets in derivative securities of any kind. &#160;The Fund&#8217;s investments in derivative securities are expected to consist primarily of options, futures contracts or options on futures contracts. &#160;The Fund uses leveraged Underlying Funds and derivative investments for leverage, to increase the potential return on an investment. &#160;&#160;The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments.</font> </p> <br/><p style="MARGIN: 0px; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman">In selecting the Balanced Fund's positions, the adviser will use its proprietary investment research process called "Rational Analysis" <strike></strike>, as described below. &#160;The particular allocation of positions will change from time to time as market forces and the Fund&#8217;s moderate strategy dictate. &#160;</font> </p> <br/><p style="MARGIN: 0px" align="justify"> <font style="FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 12pt"><strike></strike></font><font style="FONT-SIZE: 12pt">The adviser&#8217;s &#8220;Rational Analysis&#8221;</font> <font style="FONT-SIZE: 12pt">uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions. &#160;Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model. &#160;The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.</font></font> </p> <br/><p style="TEXT-INDENT: 48px; MARGIN: 0px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Technical Analysis</i></font> <font style="FONT-FAMILY: Times New Roman">is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume. &#160;Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity. &#160;Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.</font></font> </p> <br/><p style="TEXT-INDENT: 48px; MARGIN: 0px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Fundamental Analysis</i></font> <font style="FONT-FAMILY: Times New Roman">is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors. &#160;Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks. &#160;Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.</font></font> </p> <br/><p style="TEXT-INDENT: 48px; MARGIN: 0px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Quantitative Studies</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The adviser uses mathematic analytics and modeling of portfolios. &#160;Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions. &#160;The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.</font></font> </p> Fees and Expenses of the Fund: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.</font> </p> 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0100 0.0100 0.0025 0.0100 0.0058 0.0058 0.0080 0.0080 0.0263 0.0263 ~ http://nlft.com/20121231/role/ScheduleShareholderFees20011 column dei_LegalEntityAxis compact cik0001314414_S000039557Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://nlft.com/20121231/role/ScheduleAnnualFundOperatingExpenses20012 column dei_LegalEntityAxis compact cik0001314414_S000039557Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Based on estimated amounts for the current fiscal year. Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund. Based on estimated amounts for the current fiscal year. Shareholder Fees (fees paid directly from your investment) Performance: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. &#160;In the future, performance information will be presented in this section of the Prospectus. &#160;Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting <strike/>www.tpfg.com <strike/>or by calling <strike/>1-888-451-TPFG. <strike/></font> </p> Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. 1-888-451-TPFG www.tpfg.com Investment Objective: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> The investment objective of the Fund is to seek total return. <strike/></font> </p> Example: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. &#160;</font> </p> 266 817 341 1039 ~ http://nlft.com/20121231/role/ScheduleExpenseExampleTransposed20013 column dei_LegalEntityAxis compact cik0001314414_S000039557Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be: Pacific Financial Foundational Asset Allocation Fund Portfolio Turnover: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> &#160;The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). &#160;A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. &#160;These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. &#160;</font> </p> Principal Risks: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"><b><i>As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. &#160;Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.</i></b></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Asset Class Risk</i></font><font style="FONT-FAMILY: Times New Roman">. &#160;Securities in any particular sector or asset class in which the Fund invests may underperform in comparison to the general securities market or other asset classes.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Commodities Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The value of commodities related investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, and tariffs. &#160;The prices of industrial metals, precious metals, agriculture, and livestock commodities may fluctuate widely due to factors such as changes in value, supply and demand, and governmental regulatory policies.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Company Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole. &#160;The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Currency Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The Fund's net asset value could decline as a result of changes in the exchange rates between foreign currencies and the U.S. dollar. Additionally, certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal and interest to investors located outside the country, due to blockage of foreign currency exchanges or otherwise. &#160;</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Emerging Markets Risk</i></font><font style="FONT-FAMILY: Times New Roman">: In addition to the risks generally associated with investing in foreign securities, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>&#160;</i></font> <font style="FONT-FAMILY: Times New Roman"><i><strike></strike></i></font><font style="FONT-FAMILY: Times New Roman"><i>ETF and Underlying Fund Risk</i></font> <font style="FONT-FAMILY: Times New Roman">.&#160; &#160;Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.&#160; As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.&#160; Each Underlying Fund is subject to specific risks, depending on its investments.</font> <font style="FONT-FAMILY: Times New Roman"><strike></strike></font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Fixed Income Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;&#160;Typically, a rise in interest rates causes a decline in the value of the bond owned by the Fund. &#160;Other risk factors include credit risk, maturity risk, market risk, extension risk, illiquid security risks, foreign securities risk, and prepayment risk. &#160;In addition, bond ETFs and mutual funds, may invest in what are sometimes referred to as "junk bonds." Such securities are speculative investments that carry greater risks and are more susceptible to real or perceived adverse economic and competitive industry conditions than higher quality debt securities.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Foreign Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The Fund's performance may depend on issues other than the performance of a particular company or U.S. market sector. &#160;The values of foreign investments may be affected by changes in exchange control regulations, application of foreign tax laws (including withholding tax) changes in governmental administration or economic or monetary policy (in this country or abroad) or changed circumstances in dealings between nations. &#160;The value of foreign securities is also affected by the value of the local currency relative to the U.S. dollar.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Futures and Options Risk</i></font><font style="FONT-FAMILY: Times New Roman">. &#160;The use of options, futures contracts or options on futures contracts for risk management or hedging purposes may not be successful, resulting in losses to the Fund. &#160;In addition, the cost of hedging may reduce the Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s returns, and the use of futures and options for investment purposes increases the Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s potential for loss.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Hedging Risk</i></font><font style="FONT-FAMILY: Times New Roman">:</font> <font style="FONT-FAMILY: Calibri,Times New Roman; FONT-SIZE: 11pt"></font><font style="FONT-FAMILY: Times New Roman">Although derivative instruments may be used to offset or hedge against losses on an opposite position, such hedges can also potentially offset any gains on the opposite position. The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss. &#160;The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Leverage Risk</i></font> <font style="FONT-FAMILY: Times New Roman">: &#160;&#160;The use of leverage may exaggerate changes in a Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s share price and the return on its investments. &#160;Accordingly, the value of the Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified. &#160;Any losses suffered by a leveraged Underlying Fund or the Fund as a result of the use of leverage could adversely affect the Fund&#8217;s net asset value and an investor could incur a loss in their investment in the Fund. &#160;Borrowing also leads to additional interest expense and other fees that increase the Fund&#8217;s expenses.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8226;</font><i>Limited History of Operations Risk</i> : &#160;The Fund is a new mutual fund and has a limited history of operations.</font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Management Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments. &#160;There is no guarantee that the adviser's investment strategy will produce the desired results.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Market Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time, and tend to be more volatile than other investment choices.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Portfolio Turnover Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;Portfolio turnover results in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Higher costs associated with increased portfolio turnover may offset gains in the Fund's performance.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Real Estate Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;&#160;Real estate related investments are subject to risks related to possible declines in the value of real estate; general and local economic conditions; possible lack of availability of mortgage funds; overbuilding; extended vacancies of properties; increases in competition, property taxes, and operating expenses; changes in zoning laws; costs resulting from the clean-up of, and liability to third parties for damages resulting from, environmental problems; casualty or condemnation losses; uninsured damages from floods, earthquakes, or other natural disasters; limitations on and variations in rents; and changes in interest rates.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Small-Cap and Mid-Cap Securities Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The Fund may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies. &#160;Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies. &#160;Securities of these types of companies have limited market liquidity, and their prices may be more volatile. &#160;You should expect that the value of the Fund&#8217;s shares will be more volatile than a fund that invests exclusively in large-capitalization companies.</font></font> </p> As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. Principal Investment Strategies: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> The Fund pursues its investment objective by implementing the strategies detailed below. &#160;Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process." &#160;The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus. &#160; The Fund may invest in other investment companies, including ETFs (&#8220;Underlying Funds&#8221;). &#160;ETFs in which the Fund invests typically <strike/>seek <strike/>to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index.</font> </p> <br/><p style="MARGIN: 0px; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman">The Foundational Asset Allocation Fund invests U.S. and International fixed income and equity securities, as determined by the sector allocation portfolio the adviser has designed to produce long-term capital appreciation. &#160; The Fund may invest up to 40% of its net assets in foreign securities, including ADRs or securities issued by foreign companies, including emerging market securities. &#160; The adviser seeks diversity across those sectors <strike></strike>it believes a re positioned to provide consistent returns over the long term. &#160;Under normal circumstances the Fund expects to invest in 6 to 12 sectors at any time, with investments in 20 to 75 positions. &#160;The Fund&#8217;s &#160;asset allocation is expected to be developed annually, but reviewed at least quarterly for style consistency and performance. &#160;The Fund may invest in equity securities of any kind <strike></strike>and any capitalization, sector or geographic location , including REITs and commodity-related securities or strategies, directly or through Underlying Funds <strike></strike>, including ETFs. &#160; While the Fund typically seeks to invest in investment grade fixed income securities (rated &#8220;BBB-&#8221; or better by S&amp;P), there is no minimum credit quality or maturity and the Fund may invest in fixed income securities of any credit quality or maturity directly or through Underlying Funds. <strike></strike></font> </p> <br/><p style="MARGIN: 0px; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman">The Fund may also invest up to 10% of its net assets in derivative securities of any kind. &#160; The Fund may also invest in leveraged ETFs or other Underlying Funds. &#160;&#160; The Fund&#8217;s investments in derivative securities are expected to consist primarily of options, futures contracts or options on futures contracts. &#160;The Fund uses derivative investments for leverage, to increase the potential return on an investment . &#160; <strike></strike>The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments.</font> </p> <br/><p style="MARGIN: 0px; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman">In selecting the Foundational Asset Allocation's positions, the adviser will use its proprietary investment research "Rational Analysis" processes, as described below. &#160;The particular allocation of positions will change from time to time as market forces and the Fund&#8217;s moderate strategy dictate. &#160; <strike></strike>&#160; <strike></strike>The adviser&#8217;s <strike></strike>&#8220;Rational Analysis&#8221; uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions. &#160;Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model. &#160;The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.</font> </p> <br/><p style="TEXT-INDENT: 48px; MARGIN: 0px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Technical Analysis</i></font> <font style="FONT-FAMILY: Times New Roman">is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume. &#160;Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity. &#160;Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.</font></font> </p> <br/><p style="TEXT-INDENT: 48px; MARGIN: 0px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Fundamental Analysis</i></font> <font style="FONT-FAMILY: Times New Roman">is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors. &#160;Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks. &#160;Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.</font></font> </p> <br/><p style="TEXT-INDENT: 48px; MARGIN: 0px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Quantitative Studies</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The adviser uses mathematic analytics and modeling of portfolios. &#160;Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions. &#160;The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.</font></font> </p> Fees and Expenses of the Fund: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.</font> </p> 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0100 0.0100 0.0025 0.0100 0.0058 0.0058 0.0080 0.0080 0.0263 0.0263 ~ http://nlft.com/20121231/role/ScheduleShareholderFees20016 column dei_LegalEntityAxis compact cik0001314414_S000039558Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://nlft.com/20121231/role/ScheduleAnnualFundOperatingExpenses20017 column dei_LegalEntityAxis compact cik0001314414_S000039558Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Based on estimated amounts for the current fiscal year. Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund. Based on estimated amounts for the current fiscal year. Shareholder Fees (fees paid directly from your investment) Performance: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. &#160;In the future, performance information will be presented in this section of the Prospectus. &#160;Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting <strike/>www.tpfg.com <strike/>or by calling <strike/>1-888-451-TPFG. <strike/></font> </p> Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. 1-888-451-TPFG www.tpfg.com Investment Objective: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> The investment objective of the Fund is to seek long-term capital appreciation.</font> </p> Example: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. &#160;</font> </p> 266 817 341 1039 ~ http://nlft.com/20121231/role/ScheduleExpenseExampleTransposed20018 column dei_LegalEntityAxis compact cik0001314414_S000039558Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be: Pacific Financial Faith & Values Based Conservative Fund Portfolio Turnover: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> &#160;The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). &#160;A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. &#160;These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. &#160;</font> </p> Principal Risks: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"><b><i>As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. &#160;Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.</i></b></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Company Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole. &#160;The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Derivatives Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;Derivative instruments derive their value from the value of an underlying security, currency, or index. &#160;Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; risks of default by the other party to the derivative instrument; risks that the transactions may result in losses of all or in excess of any gain in the portfolio positions; and risks that the transactions may not be liquid.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>&#160;</i></font> <font style="FONT-FAMILY: Times New Roman"><i><strike></strike></i></font><font style="FONT-FAMILY: Times New Roman"><i>ETF and Underlying Fund Risk</i></font> <font style="FONT-FAMILY: Times New Roman">.&#160; &#160;Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.&#160; As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.&#160; Each Underlying Fund is subject to specific risks, depending on its investments.</font> <font style="FONT-FAMILY: Times New Roman"><strike></strike></font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Ethical Investing Risk</i></font><font style="FONT-FAMILY: Times New Roman">. &#160;The Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s social and moral governance criteria limit the available investments compared to funds with no such criteria. &#160;Under certain economic conditions, this could cause the Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s investment performance to be worse or better than similar funds with no such criteria.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Fixed Income Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;&#160;Typically, a rise in interest rates causes a decline in the value of the bond owned by the Fund. &#160;Other risk factors include credit risk, maturity risk, market risk, extension risk, illiquid security risks, foreign securities risk, and prepayment risk. &#160;In addition, bond ETFs and mutual funds, may invest in what are sometimes referred to as "junk bonds." 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Principal Investment Strategies: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> The Fund pursues its investment objective by implementing the strategies detailed below. &#160;Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process." &#160;The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus. &#160; The Fund may invest in other investment companies, including ETFs (&#8220;Underlying Funds&#8221;). &#160;ETFs in which the Fund invests typically <strike/>seek <strike/>to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index.</font> </p> <br/><p style="MARGIN: 0px" align="justify"> <font style="FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 12pt"><strike></strike></font><font style="FONT-SIZE: 12pt">The Faith &amp; Values Based Conservative Fund primarily invests (directly or indirectly through other investment companies) in fixed-income securities</font> <font style="FONT-SIZE: 12pt">and income producing securities such as government bonds, corporate bonds, municipal bonds, and dividend-paying equity securities</font> <font style="FONT-SIZE: 12pt">that are</font> <font style="FONT-SIZE: 12pt">typically</font> <font style="FONT-SIZE: 12pt">investment grade (rated &#8220;BBB-&#8221; or better by S&amp;P). &#160;However, the Fund may invest in fixed-income securities of any credit quality. &#160;In selecting the Faith &amp; Values Based Conservative Fund&#8217;s positions, the adviser will seek to identify securities that exhibit low volatility, consistent performance, and positive total returns. &#160;The average maturity of the fixed-income component of the Faith &amp; Values Based Conservative Fund&#8217;s portfolio will reflect the averages of the various securities or underlying investment companies held by the Fund and</font> <font style="FONT-SIZE: 12pt">the</font> <font style="FONT-SIZE: 12pt">Fund will invest without regard to any particular maturity range. &#160;&#160;&#160;In selecting securities for the Fund, the adviser will also apply</font> <font style="FONT-SIZE: 12pt"><strike></strike></font><font style="FONT-SIZE: 12pt">an</font> <font style="FONT-SIZE: 12pt">ethical screening, and exclude from the Fund any company that derives more than 20% of its revenues from abortion, pornography, liquor or tobacco, or is otherwise determined</font> <font style="FONT-SIZE: 12pt"><strike></strike></font><font style="FONT-SIZE: 12pt">to be involved in promoting abortion, pornography, liquor or tobacco</font> <font style="FONT-SIZE: 12pt">. &#160;</font> <font style="FONT-SIZE: 12pt"><strike></strike></font><font style="FONT-SIZE: 12pt">Ethical screening is provided by a third party research</font> <font style="FONT-SIZE: 12pt"><strike></strike></font><font style="FONT-SIZE: 12pt">firm which will be utilized to apply the Fund&#8217;s ethical screens and provide the adviser a list of securities that do not satisfy the ethical screening criteria and therefore are not eligible for investment</font> <font style="FONT-SIZE: 12pt">. &#160;The Fund may invest up to 10% of the Fund&#8217;s net assets in derivative securities of any kind. &#160;The Fund&#8217;s investments in derivative securities are expected to consist primarily of options, futures contracts or options on futures contracts. &#160;The Fund uses derivative investments for leverage, to increase the</font> <font style="FONT-SIZE: 12pt">Fund&#8217;s</font> <font style="FONT-SIZE: 12pt">potential return on an investment. &#160;&#160;The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments.</font> <font style="FONT-SIZE: 12pt">&#160;</font> <font style="FONT-SIZE: 12pt"><strike></strike></font></font> </p> <br/><p style="MARGIN: 0px; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman">In selecting the Faith &amp; Values Based Conservative Fund&#8217;s positions, the adviser will use its proprietary investment research "Rational Analysis" processes, as described below, excluding any securities of companies which are not eligible for purchase under the <strike></strike>ethical screening criteria described above . &#160;The particular allocation of positions will change from time to time as market forces dictate. &#160;</font> </p> <br/><p style="MARGIN: 0px" align="justify"> <font style="FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 12pt"><strike></strike></font><font style="FONT-SIZE: 12pt">The</font> <font style="FONT-SIZE: 12pt">adviser&#8217;s</font> <font style="FONT-SIZE: 12pt"><strike></strike></font><font style="FONT-SIZE: 12pt">&#8220;Rational Analysis&#8221;</font> <font style="FONT-SIZE: 12pt">uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions. &#160;Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model. &#160;The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.</font></font> </p> <br/><p style="TEXT-INDENT: 48px; 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The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks. &#160;Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.</font></font> </p> <br/><p style="TEXT-INDENT: 48px; MARGIN: 0px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Quantitative Studies</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The adviser uses mathematic analytics and modeling of portfolios. &#160;Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions. &#160;The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.</font></font> </p> Fees and Expenses of the Fund: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.</font> </p> 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0100 0.0100 0.0025 0.0100 0.0058 0.0058 0.0080 0.0080 0.0263 0.0263 ~ http://nlft.com/20121231/role/ScheduleShareholderFees20021 column dei_LegalEntityAxis compact cik0001314414_S000039560Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://nlft.com/20121231/role/ScheduleAnnualFundOperatingExpenses20022 column dei_LegalEntityAxis compact cik0001314414_S000039560Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Based on estimated amounts for the current fiscal year. Based on estimated amounts for the current fiscal year. Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund. Shareholder Fees (fees paid directly from your investment) Performance: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. &#160;In the future, performance information will be presented in this section of the Prospectus. &#160;Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting <strike/>www.tpfg.com <strike/>or by calling <strike/>1-888-451-TPFG. <strike/></font> </p> Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. 1-888-451-TPFG www.tpfg.com Investment Objective: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> The investment objective of the Fund is to seek preservation of capital and current income.</font> </p> Example: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. &#160;</font> </p> 266 817 341 1039 ~ http://nlft.com/20121231/role/ScheduleExpenseExampleTransposed20023 column dei_LegalEntityAxis compact cik0001314414_S000039560Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be: Pacific Financial Faith & Values Based Moderate Fund Portfolio Turnover: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> &#160;The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). &#160;A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. &#160;These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. &#160;</font> </p> Principal Risks: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"><b><i>As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. &#160;Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.</i></b></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Company Risk</i></font> <font style="FONT-FAMILY: Times New Roman">: &#160;The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole. &#160;The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Derivatives Risk</i></font> <font style="FONT-FAMILY: Times New Roman">: &#160;Derivative instruments derive their value from the value of an underlying security, currency, or index. &#160;Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; 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PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Fixed Income Risk</i></font> <font style="FONT-FAMILY: Times New Roman">: &#160;&#160;Typically, a rise in interest rates causes a decline in the value of the bond owned by the Fund. &#160;Other risk factors include credit risk, maturity risk, market risk, extension risk, illiquid security risks, foreign securities risk, and prepayment risk. &#160;In addition, bond ETFs and mutual funds, may invest in what are sometimes referred to as "junk bonds." 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The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss. &#160;The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Leverage Risk</i></font> <font style="FONT-FAMILY: Times New Roman">: &#160;&#160;The use of leverage may exaggerate changes in a Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s share price and the return on its investments. &#160;Accordingly, the value of the Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified. &#160;Any losses suffered by a leveraged Underlying Fund or the</font> <font style="FONT-FAMILY: Times New Roman"><strike></strike></font><font style="FONT-FAMILY: Times New Roman">Fund as a result of the use of leverage could adversely affect the Fund&#8217;s net asset value and an investor could incur a loss in their investment in the Fund. &#160;Borrowing also leads to additional interest expense and other fees that increase the Fund&#8217;s expenses.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8226;</font> <i>Limited History of Operations Risk</i> : &#160;The Fund is a new mutual fund and has a limited history of operations.</font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Management Risk</i></font> <font style="FONT-FAMILY: Times New Roman">: &#160;The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments. &#160;There is no guarantee that the adviser's investment strategy will produce the desired results.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Market Risk</i></font> <font style="FONT-FAMILY: Times New Roman">: &#160;The price of equity securities may rise or fall because of economic or political changes. 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Principal Investment Strategies: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> The Fund pursues its investment objective by implementing the strategies detailed below. &#160;Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process." &#160;The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus. &#160;The Fund may invest in other investment companies, including ETFs (&#8220;Underlying Funds&#8221;). &#160;ETFs in which the Fund invests typically <strike/>seek <strike/>to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index. &#160;&#160;</font> </p> <br/><p style="MARGIN: 0px; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman">The Faith Based Moderate Fund seeks to achieve its investment objective by investing in a &#160;balanced portfolio of fixed income and equity securities. &#160;Under normal circumstances, the Fund will invest at least 25% of its assets in equity securities and at least 25% of its assets in fixed income securities. &#160;The Fund will invest the fixed income portion of the portfolio directly or in other Underlying Funds (including ETFs) that invest primarily in fixed income and income producing securities such as government bonds, corporate bonds, municipal bonds, and dividend-paying equity securities. &#160;While the Fund typically seeks to invest in investment grade fixed income securities (rated &#8220;BBB-&#8221; or better by S&amp;P), there is no minimum credit quality or maturity and the Fund may invest in fixed income securities of any credit quality or maturity. <strike></strike>&#160;The Fund will also invest in equity securities directly or through other investment companies (including ETFs) that invest primarily in common stock of U.S. or foreign companies of any capitalization, or geographic location. &#160;The Fund may also invest in REITs. &#160;In selecting securities for the Fund, the adviser will apply an ethical screening, and exclude from the Fund any company that derives more than 20% of its revenues from abortion, pornography, liquor or tobacco, or is otherwise determined <strike></strike>to be involved in promoting abortion, pornography, liquor or tobacco. &#160;Ethical screening is provided by a third party research firm which will be utilized to apply the Fund&#8217;s ethical screens and provide the adviser a list of securities that do not satisfy the ethical screening criteria and therefore are not eligible for investment. &#160;The Fund may invest in leveraged Underlying Funds and up to 10% of the Fund&#8217;s net assets in derivative securities of any kind. &#160;The Fund&#8217;s investments in leveraged funds and derivative securities are expected to consist primarily of options, future contracts, or options on futures contracts. &#160;The Fund uses leveraged Underlying Funds and derivative investments for leverage, to increase the potential return on an investment. &#160;&#160;The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments. <strike></strike>&#160;</font> </p> <br/><p style="MARGIN: 0px; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman">In selecting the Faith &amp; Values Based Moderate Fund&#8217;s positions, the adviser will use its proprietary investment research "Rational Analysis" processes, as described below, but excludes the securities of any companies that are not eligible for investment under the <strike></strike>ethical screening criteria described above. &#160;The particular allocation of positions will change from time to time as market forces dictate.</font> </p> <br/><p style="MARGIN: 0px" align="justify"> <font style="FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 12pt"><strike></strike></font><font style="FONT-SIZE: 12pt">&#160;</font> <font style="FONT-SIZE: 12pt"><strike></strike></font><font style="FONT-SIZE: 12pt">The adviser&#8217;s &#8220;Rational Analysis&#8221;</font> <font style="FONT-SIZE: 12pt"><strike></strike></font><font style="FONT-SIZE: 12pt">uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions. &#160;Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model. &#160;The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.</font></font> </p> <br/><p style="TEXT-INDENT: 48px; 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The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks. &#160;Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.</font></font> </p> <br/><p style="TEXT-INDENT: 48px; MARGIN: 0px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Quantitative Studies</i></font> <font style="FONT-FAMILY: Times New Roman">: &#160;The adviser uses mathematic analytics and modeling of portfolios. &#160;Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions. &#160;The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.</font></font> </p> Fees and Expenses of the Fund: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.</font> </p> 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0100 0.0100 0.0025 0.0100 0.0058 0.0058 0.0080 0.0080 0.0263 0.0263 ~ http://nlft.com/20121231/role/ScheduleShareholderFees20026 column dei_LegalEntityAxis compact cik0001314414_S000039559Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://nlft.com/20121231/role/ScheduleAnnualFundOperatingExpenses20027 column dei_LegalEntityAxis compact cik0001314414_S000039559Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Based on estimated amounts for the current fiscal year. Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund. Based on estimated amounts for the current fiscal year. Shareholder Fees (fees paid directly from your investment) Performance: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. &#160;In the future, performance information will be presented in this section of the Prospectus. &#160;Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.tpfg.com or by calling 1-888-451-TPFG.</font> </p> Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. 1-888-451-TPFG www.tpfg.com Investment Objective: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> The investment objective of the Fund is to seek long-term capital appreciation and current income.</font> </p> Example: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. &#160;</font> </p> 266 817 341 1039 ~ http://nlft.com/20121231/role/ScheduleExpenseExampleTransposed20028 column dei_LegalEntityAxis compact cik0001314414_S000039559Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be: Pacific Financial Faith & Values Based Aggressive Fund Portfolio Turnover: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> &#160;The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). &#160;A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. &#160;These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. &#160;</font> </p> Principal Risks: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"><b><i>As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. &#160;Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.</i></b></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Company Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole. &#160;The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Derivatives Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;Derivative instruments derive their value from the value of an underlying security, currency, or index. &#160;Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; risks of default by the other party to the derivative instrument; risks that the transactions may result in losses of all or in excess of any gain in the portfolio positions; and risks that the transactions may not be liquid.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Emerging Markets Risk</i></font> <font style="FONT-FAMILY: Times New Roman">: &#160;In addition to the risks generally associated with investing in foreign securities, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>&#160;</i></font> <font style="FONT-FAMILY: Times New Roman"><i><strike></strike></i></font><font style="FONT-FAMILY: Times New Roman"><i>ETF and Underlying Fund Risk</i></font> <font style="FONT-FAMILY: Times New Roman">.&#160; &#160;Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.&#160; As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.&#160; Each Underlying Fund is subject to specific risks, depending on its investments.</font> <font style="FONT-FAMILY: Times New Roman"><strike></strike></font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Ethical Investing Risk</i></font><font style="FONT-FAMILY: Times New Roman">. &#160;The Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s social and moral governance criteria limit the available investments compared to funds with no such criteria. &#160;Under certain economic conditions, this could cause the Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s investment performance to be worse or better than similar funds with no such criteria.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Foreign Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The Fund's performance may depend on issues other than the performance of a particular company or U.S. market sector. &#160;The values of foreign investments may be affected by changes in exchange control regulations, application of foreign tax laws (including withholding tax) changes in governmental administration or economic or monetary policy (in this country or abroad) or changed circumstances in dealings between nations. &#160;The value of foreign securities is also affected by the value of the local currency relative to the U.S. dollar.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Futures and Options Risk</i></font><font style="FONT-FAMILY: Times New Roman">. &#160;The use of options, futures contracts or options on futures contracts for risk management or hedging purposes may not be successful, resulting in losses to the Fund. &#160;In addition, the cost of hedging may reduce the Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s returns, and the use of futures and options for investment purposes increases the Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s potential for loss.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Hedging Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;Although derivative instruments may be used to offset or hedge against losses on an opposite position, such hedges can also potentially offset any gains on the opposite position. The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss. &#160;The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Leverage Risk</i></font> <font style="FONT-FAMILY: Times New Roman">: &#160;&#160;The use of leverage may exaggerate changes in a Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s share price and the return on its investments. &#160;Accordingly, the value of the Fund<font style="FONT-FAMILY: Arial Unicode MS,Times New Roman">&#8217;</font>s investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified. &#160;Any losses suffered by a leveraged Underlying Fund or the Fund as a result of the use of leverage could adversely affect the Fund&#8217;s net asset value and an investor could incur a loss in their investment in the Fund. &#160;Borrowing also leads to additional interest expense and other fees that increase the Fund&#8217;s expenses.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman">&#8226;<i>Limited History of Operations Risk</i> : &#160;The Fund is a new mutual fund and has a limited history of operations.</font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Management Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments. &#160;There is no guarantee that the adviser's investment strategy will produce the desired results.</font></font> </p> <br/><p style="MARGIN: 0px; PADDING-LEFT: 48px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Market Risk</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The price of equity securities may rise or fall because of economic or political changes. 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Principal Investment Strategies: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> The Fund pursues its investment objective by implementing the strategies detailed below. &#160;Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process." &#160;The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus. &#160; The Fund may invest in other investment companies, including ETFs (&#8220;Underlying Funds&#8221;). &#160;ETFs in which the Fund invests typically <strike/>seek <strike/>to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index.</font> </p> <br/><p style="MARGIN: 0px; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman">The Faith &amp; Values Based Aggressive Fund invests primarily in equity securities. &#160;These equity securities will consist primarily of securities issued by U.S. entities or other investment companies (including ETFs) that invest primarily in U.S. common stock. &#160;However, the Fund may also invest up to 40% of its net assets in foreign securities or Underlying Funds that invest in foreign securities, of any capitalization or geographic location (including emerging markets) . &#160; <strike></strike>In selecting securities for the Fund, the adviser will apply an ethical screening, and exclude from the Fund any company that derives more than 20% of its revenues from abortion, pornography, liquor or tobacco, or is otherwise determined <strike></strike>to be involved in promoting abortion, pornography, liquor or tobacco . &#160;The Fund&#8217;s ethical screening is provided by a third party research firm which will be utilized to apply the Fund&#8217;s ethical screens and provide the adviser a list of securities that do not satisfy the ethical screening criteria and therefore are not eligible for investment . &#160;&#160;The Fund may also invest in fixed income securities of any credit quality or maturity directly or through <strike></strike>Underlying Funds <strike></strike>(including ETFs). &#160;It may invest in leveraged Underlying Funds and up to 10% of its net assets in derivative securities of any kind. &#160;The Fund&#8217;s investments in leveraged funds and derivative securities are expected to consist primarily of options, futures contracts, or options on futures contracts. &#160;The Fund uses derivative investments for leverage, to increase the potential return on an investment. &#160;&#160;The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments.</font> </p> <br/><p style="MARGIN: 0px; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman">In selecting the Faith Based Aggressive <strike></strike>Fund&#8217;s positions, the adviser will use its proprietary investment research "Rational Analysis" processes, as described below, excluding from consideration, those companies that are not eligible for investment under the <strike></strike>ethical screening criteria described above . &#160;The particular allocation of positions will change from time to time as market forces dictate. &#160;</font> </p> <br/><p style="MARGIN: 0px" align="justify"> <font style="FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 12pt"><strike></strike></font><font style="FONT-SIZE: 12pt">&#160;</font> <font style="FONT-SIZE: 12pt"><strike></strike></font><font style="FONT-SIZE: 12pt">The adviser</font> <font style="FONT-SIZE: 12pt">&#8217;s &#8220;Rational</font> <font style="FONT-SIZE: 12pt"><strike></strike></font><font style="FONT-SIZE: 12pt">Analysis&#8221;</font> <font style="FONT-SIZE: 12pt"><strike></strike></font><font style="FONT-SIZE: 12pt">uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions. &#160;Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model. &#160;The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.</font></font> </p> <br/><p style="TEXT-INDENT: 48px; MARGIN: 0px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Technical Analysis</i></font> <font style="FONT-FAMILY: Times New Roman">is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume. &#160;Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity. &#160;Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.</font></font> </p> <br/><p style="TEXT-INDENT: 48px; MARGIN: 0px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Fundamental Analysis</i></font> <font style="FONT-FAMILY: Times New Roman">is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors. &#160;Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks. &#160;Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.</font></font> </p> <br/><p style="TEXT-INDENT: 48px; MARGIN: 0px; FONT-FAMILY: Symbol; FONT-SIZE: 12pt" align="justify"> <font style="FONT-FAMILY: Times New Roman"><i>&#183;</i> <font style="FONT-FAMILY: Times New Roman"><i>Quantitative Studies</i></font><font style="FONT-FAMILY: Times New Roman">: &#160;The adviser uses mathematic analytics and modeling of portfolios. &#160;Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions. &#160;The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.</font></font> </p> Fees and Expenses of the Fund: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.</font> </p> 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0100 0.0100 0.0025 0.0100 0.0058 0.0058 0.0080 0.0080 0.0263 0.0263 ~ http://nlft.com/20121231/role/ScheduleShareholderFees20031 column dei_LegalEntityAxis compact cik0001314414_S000039561Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://nlft.com/20121231/role/ScheduleAnnualFundOperatingExpenses20032 column dei_LegalEntityAxis compact cik0001314414_S000039561Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Based on estimated amounts for the current fiscal year. Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund. Based on estimated amounts for the current fiscal year. Shareholder Fees (fees paid directly from your investment) Performance: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. &#160;In the future, performance information will be presented in this section of the Prospectus. &#160;Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting <strike/>www.tpfg.com <strike/>or by calling <strike/>1-888-451-TPFG. <strike/></font> </p> Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. 1-888-451-TPFG www.tpfg.com Investment Objective: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> The investment objective of the Fund is to seek long-term capital appreciation.</font> </p> Example: <p align="justify" style="MARGIN: 0px; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman"> This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. &#160;</font> </p> 266 817 341 1039 ~ http://nlft.com/20121231/role/ScheduleExpenseExampleTransposed20033 column dei_LegalEntityAxis compact cik0001314414_S000039561Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. 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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Prospectus Date rr_ProspectusDate Dec. 31, 2012
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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Pacific Financial Faith & Values Based Moderate Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The investment objective of the Fund is to seek long-term capital appreciation and current income.

Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund:
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover:
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio).  A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance.  

Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Based on estimated amounts for the current fiscal year.
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates Based on estimated amounts for the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
Expense Example [Heading] rr_ExpenseExampleHeading Example:
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.  

Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies:
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

The Fund pursues its investment objective by implementing the strategies detailed below.  Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process."  The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus.  The Fund may invest in other investment companies, including ETFs (“Underlying Funds”).  ETFs in which the Fund invests typically seek to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index.   


The Faith Based Moderate Fund seeks to achieve its investment objective by investing in a  balanced portfolio of fixed income and equity securities.  Under normal circumstances, the Fund will invest at least 25% of its assets in equity securities and at least 25% of its assets in fixed income securities.  The Fund will invest the fixed income portion of the portfolio directly or in other Underlying Funds (including ETFs) that invest primarily in fixed income and income producing securities such as government bonds, corporate bonds, municipal bonds, and dividend-paying equity securities.  While the Fund typically seeks to invest in investment grade fixed income securities (rated “BBB-” or better by S&P), there is no minimum credit quality or maturity and the Fund may invest in fixed income securities of any credit quality or maturity.  The Fund will also invest in equity securities directly or through other investment companies (including ETFs) that invest primarily in common stock of U.S. or foreign companies of any capitalization, or geographic location.  The Fund may also invest in REITs.  In selecting securities for the Fund, the adviser will apply an ethical screening, and exclude from the Fund any company that derives more than 20% of its revenues from abortion, pornography, liquor or tobacco, or is otherwise determined to be involved in promoting abortion, pornography, liquor or tobacco.  Ethical screening is provided by a third party research firm which will be utilized to apply the Fund’s ethical screens and provide the adviser a list of securities that do not satisfy the ethical screening criteria and therefore are not eligible for investment.  The Fund may invest in leveraged Underlying Funds and up to 10% of the Fund’s net assets in derivative securities of any kind.  The Fund’s investments in leveraged funds and derivative securities are expected to consist primarily of options, future contracts, or options on futures contracts.  The Fund uses leveraged Underlying Funds and derivative investments for leverage, to increase the potential return on an investment.   The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments.  


In selecting the Faith & Values Based Moderate Fund’s positions, the adviser will use its proprietary investment research "Rational Analysis" processes, as described below, but excludes the securities of any companies that are not eligible for investment under the ethical screening criteria described above.  The particular allocation of positions will change from time to time as market forces dictate.


  The adviser’s “Rational Analysis” uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions.  Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model.  The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.


· Technical Analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume.  Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity.  Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.


· Fundamental Analysis is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors.  Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks.  Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.


· Quantitative Studies :  The adviser uses mathematic analytics and modeling of portfolios.  Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions.  The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.

Risk [Heading] rr_RiskHeading Principal Risks:
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.  Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.


· Company Risk :  The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole.  The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.


· Derivatives Risk :  Derivative instruments derive their value from the value of an underlying security, currency, or index.  Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; risks of default by the other party to the derivative instrument; risks that the transactions may result in losses of all or in excess of any gain in the portfolio positions; and risks that the transactions may not be liquid.


· Emerging Markets Risk :  In addition to the risks generally associated with investing in foreign securities, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues.


·  ETF and Underlying Fund Risk .   Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.  As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.  Each Underlying Fund is subject to specific risks, depending on its investments.


· Ethical Investing Risk .  The Funds social and moral governance criteria limit the available investments compared to funds with no such criteria.  Under certain economic conditions, this could cause the Funds investment performance to be worse than similar funds with no such criteria.


· Fixed Income Risk :   Typically, a rise in interest rates causes a decline in the value of the bond owned by the Fund.  Other risk factors include credit risk, maturity risk, market risk, extension risk, illiquid security risks, foreign securities risk, and prepayment risk.  In addition, bond ETFs and mutual funds, may invest in what are sometimes referred to as "junk bonds." Such securities are speculative investments that carry greater risks and are more susceptible to real or perceived adverse economic and competitive industry conditions than higher quality debt securities.


· Foreign Risk :  The Fund's performance may depend on issues other than the performance of a particular company or U.S. market sector.  The values of foreign investments may be affected by changes in exchange control regulations, application of foreign tax laws (including withholding tax) changes in governmental administration or economic or monetary policy (in this country or abroad) or changed circumstances in dealings between nations.  The value of foreign securities is also affected by the value of the local currency relative to the U.S. dollar.


· Futures and Options Risk .  The use of options, futures contracts or options on futures contracts for risk management or hedging purposes may not be successful, resulting in losses to the Fund.  In addition, the cost of hedging may reduce the Funds returns, and the use of futures and options for investment purposes increases the Funds potential for loss.


· Hedging Risk :  Although derivative instruments may be used to offset or hedge against losses on an opposite position, such hedges can also potentially offset any gains on the opposite position. The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss.  The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.


· Leverage Risk :   The use of leverage may exaggerate changes in a Funds share price and the return on its investments.  Accordingly, the value of the Funds investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified.  Any losses suffered by a leveraged Underlying Fund or the Fund as a result of the use of leverage could adversely affect the Fund’s net asset value and an investor could incur a loss in their investment in the Fund.  Borrowing also leads to additional interest expense and other fees that increase the Fund’s expenses.


Limited History of Operations Risk :  The Fund is a new mutual fund and has a limited history of operations.


· Management Risk :  The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments.  There is no guarantee that the adviser's investment strategy will produce the desired results.


· Market Risk :  The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time, and tend to be more volatile than other investment choices.


· Portfolio Turnover Risk :  Portfolio turnover results in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Higher costs associated with increased portfolio turnover may offset gains in the Fund's performance.


· Real Estate Risk : Real estate related investments are subject to risks related to possible declines in the value of real estate; general and local economic conditions; possible lack of availability of mortgage funds; overbuilding; extended vacancies of properties; increases in competition, property taxes, and operating expenses; changes in zoning laws; costs resulting from the clean-up of, and liability to third parties for damages resulting from, environmental problems; casualty or condemnation losses; uninsured damages from floods, earthquakes, or other natural disasters; limitations on and variations in rents; and changes in interest rates. 


· Small-Cap and Mid-Cap Securities Risk :  The Fund may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies.  Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies.  Securities of these types of companies have limited market liquidity, and their prices may be more volatile.  You should expect that the value of the Fund’s shares will be more volatile than a fund that invests exclusively in large-capitalization companies.

Risk Lose Money [Text] rr_RiskLoseMoney As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance:
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.  In the future, performance information will be presented in this section of the Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.tpfg.com or by calling 1-888-451-TPFG.

Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-888-451-TPFG
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.tpfg.com
Pacific Financial Faith & Values Based Moderate Fund Institutional Class Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed) rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.58% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.80% [1],[2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.63%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 266
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 817
Pacific Financial Faith & Values Based Moderate Fund Investor Class Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed) rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.58% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.80% [1],[2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.63%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 341
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 1,039
[1] Based on estimated amounts for the current fiscal year.
[2] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.

XML 12 R32.htm IDEA: XBRL DOCUMENT v2.4.0.6
Pacific Financial Faith & Values Based Aggressive Fund
Pacific Financial Faith & Values Based Aggressive Fund
Investment Objective:

The investment objective of the Fund is to seek long-term capital appreciation.

Fees and Expenses of the Fund:

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)
Shareholder Fees Pacific Financial Faith & Values Based Aggressive Fund
Pacific Financial Faith & Values Based Aggressive Fund Institutional Class Shares
Pacific Financial Faith & Values Based Aggressive Fund Investor Class Shares
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) none none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) none none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions none none
Redemption Fee (as a percentage of amount redeemed) none none
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses Pacific Financial Faith & Values Based Aggressive Fund
Pacific Financial Faith & Values Based Aggressive Fund Institutional Class Shares
Pacific Financial Faith & Values Based Aggressive Fund Investor Class Shares
Management Fees 1.00% 1.00%
Distribution and Service (12b-1) Fees 0.25% 1.00%
Other Expenses [1] 0.58% 0.58%
Acquired Fund Fees and Expenses [1][2] 0.80% 0.80%
Total Annual Fund Operating Expenses 2.63% 2.63%
[1] Based on estimated amounts for the current fiscal year.
[2] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
Example:

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.  

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Expense Example Pacific Financial Faith & Values Based Aggressive Fund (USD $)
1 Year
3 Years
Pacific Financial Faith & Values Based Aggressive Fund Institutional Class Shares
266 817
Pacific Financial Faith & Values Based Aggressive Fund Investor Class Shares
341 1,039
Portfolio Turnover:

 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio).  A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance.  

Principal Investment Strategies:

The Fund pursues its investment objective by implementing the strategies detailed below.  Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process."  The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus.   The Fund may invest in other investment companies, including ETFs (“Underlying Funds”).  ETFs in which the Fund invests typically seek to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index.


The Faith & Values Based Aggressive Fund invests primarily in equity securities.  These equity securities will consist primarily of securities issued by U.S. entities or other investment companies (including ETFs) that invest primarily in U.S. common stock.  However, the Fund may also invest up to 40% of its net assets in foreign securities or Underlying Funds that invest in foreign securities, of any capitalization or geographic location (including emerging markets) .   In selecting securities for the Fund, the adviser will apply an ethical screening, and exclude from the Fund any company that derives more than 20% of its revenues from abortion, pornography, liquor or tobacco, or is otherwise determined to be involved in promoting abortion, pornography, liquor or tobacco .  The Fund’s ethical screening is provided by a third party research firm which will be utilized to apply the Fund’s ethical screens and provide the adviser a list of securities that do not satisfy the ethical screening criteria and therefore are not eligible for investment .   The Fund may also invest in fixed income securities of any credit quality or maturity directly or through Underlying Funds (including ETFs).  It may invest in leveraged Underlying Funds and up to 10% of its net assets in derivative securities of any kind.  The Fund’s investments in leveraged funds and derivative securities are expected to consist primarily of options, futures contracts, or options on futures contracts.  The Fund uses derivative investments for leverage, to increase the potential return on an investment.   The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments.


In selecting the Faith Based Aggressive Fund’s positions, the adviser will use its proprietary investment research "Rational Analysis" processes, as described below, excluding from consideration, those companies that are not eligible for investment under the ethical screening criteria described above .  The particular allocation of positions will change from time to time as market forces dictate.  


  The adviser ’s “Rational Analysis” uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions.  Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model.  The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.


· Technical Analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume.  Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity.  Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.


· Fundamental Analysis is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors.  Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks.  Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.


· Quantitative Studies:  The adviser uses mathematic analytics and modeling of portfolios.  Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions.  The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.

Principal Risks:

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.  Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.


· Company Risk:  The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole.  The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.


· Derivatives Risk:  Derivative instruments derive their value from the value of an underlying security, currency, or index.  Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; risks of default by the other party to the derivative instrument; risks that the transactions may result in losses of all or in excess of any gain in the portfolio positions; and risks that the transactions may not be liquid.


· Emerging Markets Risk :  In addition to the risks generally associated with investing in foreign securities, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues.


·   ETF and Underlying Fund Risk .   Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.  As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.  Each Underlying Fund is subject to specific risks, depending on its investments.


· Ethical Investing Risk.  The Funds social and moral governance criteria limit the available investments compared to funds with no such criteria.  Under certain economic conditions, this could cause the Funds investment performance to be worse or better than similar funds with no such criteria.


· Foreign Risk:  The Fund's performance may depend on issues other than the performance of a particular company or U.S. market sector.  The values of foreign investments may be affected by changes in exchange control regulations, application of foreign tax laws (including withholding tax) changes in governmental administration or economic or monetary policy (in this country or abroad) or changed circumstances in dealings between nations.  The value of foreign securities is also affected by the value of the local currency relative to the U.S. dollar.


· Futures and Options Risk.  The use of options, futures contracts or options on futures contracts for risk management or hedging purposes may not be successful, resulting in losses to the Fund.  In addition, the cost of hedging may reduce the Funds returns, and the use of futures and options for investment purposes increases the Funds potential for loss.


· Hedging Risk:  Although derivative instruments may be used to offset or hedge against losses on an opposite position, such hedges can also potentially offset any gains on the opposite position. The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss.  The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.


· Leverage Risk :   The use of leverage may exaggerate changes in a Funds share price and the return on its investments.  Accordingly, the value of the Funds investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified.  Any losses suffered by a leveraged Underlying Fund or the Fund as a result of the use of leverage could adversely affect the Fund’s net asset value and an investor could incur a loss in their investment in the Fund.  Borrowing also leads to additional interest expense and other fees that increase the Fund’s expenses.


Limited History of Operations Risk :  The Fund is a new mutual fund and has a limited history of operations.


· Management Risk:  The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments.  There is no guarantee that the adviser's investment strategy will produce the desired results.


· Market Risk:  The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time, and tend to be more volatile than other investment choices.


· Portfolio Turnover Risk:  Portfolio turnover results in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Higher costs associated with increased portfolio turnover may offset gains in the Fund's performance.


· Small-Cap and Mid-Cap Securities Risk:  The Fund may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies.  Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies.  Securities of these types of companies have limited market liquidity, and their prices may be more volatile.  You should expect that the value of the Fund’s shares will be more volatile than a fund that invests exclusively in large-capitalization companies.

Performance:

Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.  In the future, performance information will be presented in this section of the Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.tpfg.com or by calling 1-888-451-TPFG.

XML 13 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Pacific Financial Alternative Strategies Fund
Pacific Financial Alternative Strategies Fund
Investment Objective:

The investment objective of the Fund is to seek long-term capital appreciation.  

Fees and Expenses of the Fund:

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)
Shareholder Fees Pacific Financial Alternative Strategies Fund
Pacific Financial Alternative Strategies Fund Institutional Class Shares
Pacific Financial Alternative Strategies Fund Investor Class Shares
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) none none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) none none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions none none
Redemption Fee (as a percentage of amount redeemed) none none
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses Pacific Financial Alternative Strategies Fund
Pacific Financial Alternative Strategies Fund Institutional Class Shares
Pacific Financial Alternative Strategies Fund Investor Class Shares
Management Fees 1.00% 1.00%
Distribution and Service (12b-1) Fees 0.25% 1.00%
Other Expenses [1] 0.58% 0.58%
Acquired Fund Fees and Expenses [1][2] 0.80% 0.80%
Total Annual Fund Operating Expenses 2.63% 2.63%
[1] Based on estimated amounts for the current fiscal year.
[2] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
Example:

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.  

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Expense Example Pacific Financial Alternative Strategies Fund (USD $)
1 Year
3 Years
Pacific Financial Alternative Strategies Fund Institutional Class Shares
266 817
Pacific Financial Alternative Strategies Fund Investor Class Shares
341 1,039
Portfolio Turnover:

 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio).  A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance.  

Principal Investment Strategies:

The Fund pursues its investment objective by implementing the strategies detailed below.  Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process."  The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus.    The Fund may invest in other investment compan ies, including ETFs (“Underlying Funds”).  ETFs in which the Fund invests typically seek to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index.   


The Alternative Strategies Fund primarily invests in a variety of securities, including Underlying Funds that are used to implement multiple alternative investment strategies in the Fund.  The Fund may take both long and short positions in equity securities, including common and preferred stock of U.S. companies, convertible securities, foreign securities , and Real Estate Investment Trusts (“REITs”) .  The Fund may invest in fixed income securities of any credit quality or maturity.    The Fund may invest up to 100% of its assets in U.S. securities.   The Fund may also have up to 100% of its assets invested in foreign securities, including, but not limited to, American depositary receipts (“ADRs”) and securities of foreign companies , including emerging markets securities .   The Fund may invest in companies of any size (from small-cap to mid-cap to large-cap) and in any style (from growth to value) or from any geographic location, as well as currency-related securities or strategies.   The Fund may also invest in leveraged ETFs or other Underlying Funds, covered calls managed futures or illiquid securities, including up to 10% in hedge funds .   The Fund may invest up to 10% of the Fund’s net assets in derivative securities of any kind.      The Fund’s investments in derivative securities are expected to consist primarily of future contracts on financial and commodity markets .   The Fund uses derivative investments and leveraged Underlying Funds to obtain leverage in order to increase the potential return on an investment.   The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments.  


In selecting the Alternative Strategies Fund's positions, the adviser will use its proprietary investment research "Rational Analysis" processes, as described below.  The particular allocation of positions will change from time to time as market forces and the Fund’s aggressive strategy dictates.     The adviser ’s Rational Analysis uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions.  Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model.  The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.


· Technical Analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume.  Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity.  Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.


· Fundamental Analysis is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors.  Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks.  Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.


· Quantitative Studies:  The adviser uses mathematic analytics and modeling of portfolios.  Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions.  The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.

Principal Risks:

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.  Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.


· Commodities Risk:  The value of commodities related investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, and tariffs.  The prices of industrial metals, precious metals, agriculture, and livestock commodities may fluctuate widely due to factors such as changes in value, supply and demand, and governmental regulatory policies.


· Company Risk:  The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole.  The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.


· Currency Risk:  The Fund's net asset value could decline as a result of changes in the exchange rates between foreign currencies and the U.S. dollar. Additionally, certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal and interest to investors located outside the country, due to blockage of foreign currency exchanges or otherwise.  


· Derivatives Risk:  Derivative instruments derive their value from the value of an underlying security, currency, or index.  Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; risks of default by the other party to the derivative instrument; risks that the transactions may result in losses of all or in excess of any gain in the portfolio positions; and risks that the transactions may not be liquid.


· Emerging Markets Risk:  In addition to the risks generally associated with investing in foreign securities, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues.


· ETF and Underlying Fund Risk .   Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.  As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.  Each Underlying Fund is subject to specific risks, depending on its investments.


· Foreign Risk:  The Fund's performance may depend on issues other than the performance of a particular company or U.S. market sector.  The values of foreign investments may be affected by changes in exchange control regulations, application of foreign tax laws (including withholding tax) changes in governmental administration or economic or monetary policy (in this country or abroad) or changed circumstances in dealings between nations.  The value of foreign securities is also affected by the value of the local currency relative to the U.S. dollar.


· Fixed Income Risk:   Typically, a rise in interest rates causes a decline in the value of the bond owned by the Fund.  Other risk factors include credit risk, maturity risk, market risk, extension risk, illiquid security risks, foreign securities risk, and prepayment risk.  In addition, bond ETFs and mutual funds, may invest in what are sometimes referred to as "junk bonds." Such securities are speculative investments that carry greater risks and are more susceptible to real or perceived adverse economic and competitive industry conditions than higher quality debt securities.


· Futures and Options Risk.  The use of options, futures contracts or options on futures contracts for risk management or hedging purposes may not be successful, resulting in losses to the Fund.  In addition, the cost of hedging may reduce the Funds returns, and the use of futures and options for investment purposes increases the Funds potential for loss.


· Hedging Risk:  Although derivative instruments may be used to offset or hedge against losses on an opposite position, such hedges can also potentially offset any gains on the opposite position. The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss.  The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.


· Leverage Risk :   The use of leverage may exaggerate changes in a Funds share price and the return on its investments.  Accordingly, the value of the Funds investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified.  Any losses suffered by a leveraged Underlying Fund or the Fund as a result of the use of leverage could adversely affect the Fund’s net asset value and an investor could incur a loss in their investment in the Fund.  Borrowing also leads to additional interest expense and other fees that increase the Fund’s expenses.


· Limited History of Operations Risk :  The Fund is a new mutual fund and has a limited history of operations.


· Managed Futures Risk:  Investing in managed futures exposes the Fund to management risk, derivatives risk, leverage risk, as well as commodity, interest rate, equity and foreign currency risks depending on the particular strategy used.  A manager's judgments about the price appreciation of various futures contracts may prove incorrect and result in losses. The Fund's use of derivatives (including futures and options on futures) to enhance returns or hedge against market declines is subject to the risk of mispricing or improper valuation and changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index.  Investments in derivatives may involve leverage, which means a small percentage of assets invested in derivatives can have a disproportionately large impact.  Commodity, interest rate, equity and foreign currency futures are subject to unfavorable price movements as well as specific risks described more fully in paragraphs above.


· Management Risk:  The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments.  There is no guarantee that the adviser's investment strategy will produce the desired results.


· Market Risk:  The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time, and tend to be more volatile than other investment choices.


· Portfolio Turnover Risk:  Portfolio turnover results in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Higher costs associated with increased portfolio turnover may offset gains in the Fund's performance.


· Real Estate Risk: Real estate related investments are subject to risks related to possible declines in the value of real estate; general and local economic conditions; possible lack of availability of mortgage funds; overbuilding; extended vacancies of properties; increases in competition, property taxes, and operating expenses; changes in zoning laws; costs resulting from the clean-up of, and liability to third parties for damages resulting from, environmental problems; casualty or condemnation losses; uninsured damages from floods, earthquakes, or other natural disasters; limitations on and variations in rents; and changes in interest rates. 


· Small-Cap and Mid-Cap Securities Risk:  The Fund may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies.  Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies.  Securities of these types of companies have limited market liquidity, and their prices may be more volatile.  You should expect that the value of the Fund’s shares will be more volatile than a fund that invests exclusively in large-capitalization companies.

Performance:

Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.  In the future, performance information will be presented in this section of the Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.tpfg.com or by calling 1-888-451-TPFG.

XML 14 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Pacific Financial Alternative Strategies Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The investment objective of the Fund is to seek long-term capital appreciation.  

Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund:
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover:
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio).  A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance.  

Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Based on estimated amounts for the current fiscal year.
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates Based on estimated amounts for the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
Expense Example [Heading] rr_ExpenseExampleHeading Example:
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.  

Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies:
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

The Fund pursues its investment objective by implementing the strategies detailed below.  Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process."  The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus.    The Fund may invest in other investment compan ies, including ETFs (“Underlying Funds”).  ETFs in which the Fund invests typically seek to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index.   


The Alternative Strategies Fund primarily invests in a variety of securities, including Underlying Funds that are used to implement multiple alternative investment strategies in the Fund.  The Fund may take both long and short positions in equity securities, including common and preferred stock of U.S. companies, convertible securities, foreign securities , and Real Estate Investment Trusts (“REITs”) .  The Fund may invest in fixed income securities of any credit quality or maturity.    The Fund may invest up to 100% of its assets in U.S. securities.   The Fund may also have up to 100% of its assets invested in foreign securities, including, but not limited to, American depositary receipts (“ADRs”) and securities of foreign companies , including emerging markets securities .   The Fund may invest in companies of any size (from small-cap to mid-cap to large-cap) and in any style (from growth to value) or from any geographic location, as well as currency-related securities or strategies.   The Fund may also invest in leveraged ETFs or other Underlying Funds, covered calls managed futures or illiquid securities, including up to 10% in hedge funds .   The Fund may invest up to 10% of the Fund’s net assets in derivative securities of any kind.      The Fund’s investments in derivative securities are expected to consist primarily of future contracts on financial and commodity markets .   The Fund uses derivative investments and leveraged Underlying Funds to obtain leverage in order to increase the potential return on an investment.   The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments.  


In selecting the Alternative Strategies Fund's positions, the adviser will use its proprietary investment research "Rational Analysis" processes, as described below.  The particular allocation of positions will change from time to time as market forces and the Fund’s aggressive strategy dictates.     The adviser ’s Rational Analysis uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions.  Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model.  The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.


· Technical Analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume.  Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity.  Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.


· Fundamental Analysis is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors.  Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks.  Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.


· Quantitative Studies:  The adviser uses mathematic analytics and modeling of portfolios.  Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions.  The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.

Risk [Heading] rr_RiskHeading Principal Risks:
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.  Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.


· Commodities Risk:  The value of commodities related investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, and tariffs.  The prices of industrial metals, precious metals, agriculture, and livestock commodities may fluctuate widely due to factors such as changes in value, supply and demand, and governmental regulatory policies.


· Company Risk:  The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole.  The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.


· Currency Risk:  The Fund's net asset value could decline as a result of changes in the exchange rates between foreign currencies and the U.S. dollar. Additionally, certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal and interest to investors located outside the country, due to blockage of foreign currency exchanges or otherwise.  


· Derivatives Risk:  Derivative instruments derive their value from the value of an underlying security, currency, or index.  Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; risks of default by the other party to the derivative instrument; risks that the transactions may result in losses of all or in excess of any gain in the portfolio positions; and risks that the transactions may not be liquid.


· Emerging Markets Risk:  In addition to the risks generally associated with investing in foreign securities, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues.


· ETF and Underlying Fund Risk .   Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.  As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.  Each Underlying Fund is subject to specific risks, depending on its investments.


· Foreign Risk:  The Fund's performance may depend on issues other than the performance of a particular company or U.S. market sector.  The values of foreign investments may be affected by changes in exchange control regulations, application of foreign tax laws (including withholding tax) changes in governmental administration or economic or monetary policy (in this country or abroad) or changed circumstances in dealings between nations.  The value of foreign securities is also affected by the value of the local currency relative to the U.S. dollar.


· Fixed Income Risk:   Typically, a rise in interest rates causes a decline in the value of the bond owned by the Fund.  Other risk factors include credit risk, maturity risk, market risk, extension risk, illiquid security risks, foreign securities risk, and prepayment risk.  In addition, bond ETFs and mutual funds, may invest in what are sometimes referred to as "junk bonds." Such securities are speculative investments that carry greater risks and are more susceptible to real or perceived adverse economic and competitive industry conditions than higher quality debt securities.


· Futures and Options Risk.  The use of options, futures contracts or options on futures contracts for risk management or hedging purposes may not be successful, resulting in losses to the Fund.  In addition, the cost of hedging may reduce the Funds returns, and the use of futures and options for investment purposes increases the Funds potential for loss.


· Hedging Risk:  Although derivative instruments may be used to offset or hedge against losses on an opposite position, such hedges can also potentially offset any gains on the opposite position. The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss.  The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.


· Leverage Risk :   The use of leverage may exaggerate changes in a Funds share price and the return on its investments.  Accordingly, the value of the Funds investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified.  Any losses suffered by a leveraged Underlying Fund or the Fund as a result of the use of leverage could adversely affect the Fund’s net asset value and an investor could incur a loss in their investment in the Fund.  Borrowing also leads to additional interest expense and other fees that increase the Fund’s expenses.


· Limited History of Operations Risk :  The Fund is a new mutual fund and has a limited history of operations.


· Managed Futures Risk:  Investing in managed futures exposes the Fund to management risk, derivatives risk, leverage risk, as well as commodity, interest rate, equity and foreign currency risks depending on the particular strategy used.  A manager's judgments about the price appreciation of various futures contracts may prove incorrect and result in losses. The Fund's use of derivatives (including futures and options on futures) to enhance returns or hedge against market declines is subject to the risk of mispricing or improper valuation and changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index.  Investments in derivatives may involve leverage, which means a small percentage of assets invested in derivatives can have a disproportionately large impact.  Commodity, interest rate, equity and foreign currency futures are subject to unfavorable price movements as well as specific risks described more fully in paragraphs above.


· Management Risk:  The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments.  There is no guarantee that the adviser's investment strategy will produce the desired results.


· Market Risk:  The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time, and tend to be more volatile than other investment choices.


· Portfolio Turnover Risk:  Portfolio turnover results in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Higher costs associated with increased portfolio turnover may offset gains in the Fund's performance.


· Real Estate Risk: Real estate related investments are subject to risks related to possible declines in the value of real estate; general and local economic conditions; possible lack of availability of mortgage funds; overbuilding; extended vacancies of properties; increases in competition, property taxes, and operating expenses; changes in zoning laws; costs resulting from the clean-up of, and liability to third parties for damages resulting from, environmental problems; casualty or condemnation losses; uninsured damages from floods, earthquakes, or other natural disasters; limitations on and variations in rents; and changes in interest rates. 


· Small-Cap and Mid-Cap Securities Risk:  The Fund may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies.  Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies.  Securities of these types of companies have limited market liquidity, and their prices may be more volatile.  You should expect that the value of the Fund’s shares will be more volatile than a fund that invests exclusively in large-capitalization companies.

Risk Lose Money [Text] rr_RiskLoseMoney As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance:
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.  In the future, performance information will be presented in this section of the Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.tpfg.com or by calling 1-888-451-TPFG.

Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-888-451-TPFG
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.tpfg.com
Pacific Financial Alternative Strategies Fund Institutional Class Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed) rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.58% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.80% [1],[2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.63%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 266
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 817
Pacific Financial Alternative Strategies Fund Investor Class Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed) rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.58% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.80% [1],[2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.63%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 341
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 1,039
[1] Based on estimated amounts for the current fiscal year.
[2] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
XML 15 R22.htm IDEA: XBRL DOCUMENT v2.4.0.6
Pacific Financial Faith & Values Based Conservative Fund
Pacific Financial Faith & Values Based Conservative Fund
Investment Objective:

The investment objective of the Fund is to seek preservation of capital and current income.

Fees and Expenses of the Fund:

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)
Shareholder Fees Pacific Financial Faith & Values Based Conservative Fund
Pacific Financial Faith & Values Based Conservative Fund Institutional Class Shares
Pacific Financial Faith & Values Based Conservative Fund Investor Class Shares
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) none none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) none none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions none none
Redemption Fee (as a percentage of amount redeemed) none none
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses Pacific Financial Faith & Values Based Conservative Fund
Pacific Financial Faith & Values Based Conservative Fund Institutional Class Shares
Pacific Financial Faith & Values Based Conservative Fund Investor Class Shares
Management Fees 1.00% 1.00%
Distribution and Service (12b-1) Fees 0.25% 1.00%
Other Expenses [1] 0.58% 0.58%
Acquired Fund Fees and Expenses [1][2] 0.80% 0.80%
Total Annual Fund Operating Expenses 2.63% 2.63%
[1] Based on estimated amounts for the current fiscal year.
[2] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
Example:

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.  

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Expense Example Pacific Financial Faith & Values Based Conservative Fund (USD $)
1 Year
3 Years
Pacific Financial Faith & Values Based Conservative Fund Institutional Class Shares
266 817
Pacific Financial Faith & Values Based Conservative Fund Investor Class Shares
341 1,039
Portfolio Turnover:

 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio).  A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance.  

Principal Investment Strategies:

The Fund pursues its investment objective by implementing the strategies detailed below.  Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process."  The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus.   The Fund may invest in other investment companies, including ETFs (“Underlying Funds”).  ETFs in which the Fund invests typically seek to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index.


The Faith & Values Based Conservative Fund primarily invests (directly or indirectly through other investment companies) in fixed-income securities and income producing securities such as government bonds, corporate bonds, municipal bonds, and dividend-paying equity securities that are typically investment grade (rated “BBB-” or better by S&P).  However, the Fund may invest in fixed-income securities of any credit quality.  In selecting the Faith & Values Based Conservative Fund’s positions, the adviser will seek to identify securities that exhibit low volatility, consistent performance, and positive total returns.  The average maturity of the fixed-income component of the Faith & Values Based Conservative Fund’s portfolio will reflect the averages of the various securities or underlying investment companies held by the Fund and the Fund will invest without regard to any particular maturity range.    In selecting securities for the Fund, the adviser will also apply an ethical screening, and exclude from the Fund any company that derives more than 20% of its revenues from abortion, pornography, liquor or tobacco, or is otherwise determined to be involved in promoting abortion, pornography, liquor or tobacco .   Ethical screening is provided by a third party research firm which will be utilized to apply the Fund’s ethical screens and provide the adviser a list of securities that do not satisfy the ethical screening criteria and therefore are not eligible for investment .  The Fund may invest up to 10% of the Fund’s net assets in derivative securities of any kind.  The Fund’s investments in derivative securities are expected to consist primarily of options, futures contracts or options on futures contracts.  The Fund uses derivative investments for leverage, to increase the Fund’s potential return on an investment.   The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments.  


In selecting the Faith & Values Based Conservative Fund’s positions, the adviser will use its proprietary investment research "Rational Analysis" processes, as described below, excluding any securities of companies which are not eligible for purchase under the ethical screening criteria described above .  The particular allocation of positions will change from time to time as market forces dictate.  


The adviser’s “Rational Analysis” uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions.  Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model.  The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.


· Technical Analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume.  Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity.  Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.


· Fundamental Analysis is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors.  Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks.  Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.


· Quantitative Studies:  The adviser uses mathematic analytics and modeling of portfolios.  Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions.  The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.

Principal Risks:

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.  Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.


· Company Risk:  The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole.  The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.


· Derivatives Risk:  Derivative instruments derive their value from the value of an underlying security, currency, or index.  Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; risks of default by the other party to the derivative instrument; risks that the transactions may result in losses of all or in excess of any gain in the portfolio positions; and risks that the transactions may not be liquid.


·   ETF and Underlying Fund Risk .   Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.  As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.  Each Underlying Fund is subject to specific risks, depending on its investments.


· Ethical Investing Risk.  The Funds social and moral governance criteria limit the available investments compared to funds with no such criteria.  Under certain economic conditions, this could cause the Funds investment performance to be worse or better than similar funds with no such criteria.


· Fixed Income Risk:   Typically, a rise in interest rates causes a decline in the value of the bond owned by the Fund.  Other risk factors include credit risk, maturity risk, market risk, extension risk, illiquid security risks, foreign securities risk, and prepayment risk.  In addition, bond ETFs and mutual funds, may invest in what are sometimes referred to as "junk bonds." Such securities are speculative investments that carry greater risks and are more susceptible to real or perceived adverse economic and competitive industry conditions than higher quality debt securities.


· Futures and Options Risk.  The use of options, futures contracts or options on futures contracts for risk management or hedging purposes may not be successful, resulting in losses to the Fund.  In addition, the cost of hedging may reduce the Funds returns, and the use of futures and options for investment purposes increases the Funds potential for loss.


· Hedging Risk:  Although derivative instruments may be used to offset or hedge against losses on an opposite position, such hedges can also potentially offset any gains on the opposite position. The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss.  The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.


· Leverage Risk :   The use of leverage may exaggerate changes in a Funds share price and the return on its investments.  Accordingly, the value of the Funds investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified.  Any losses suffered by a leveraged Underlying Fund or the Fund as a result of the use of leverage could adversely affect the Fund’s net asset value and an investor could incur a loss in their investment in the Fund.  Borrowing also leads to additional interest expense and other fees that increase the Fund’s expenses.


Limited History of Operations Risk :  The Fund is a new mutual fund and has a limited history of operations.


· Management Risk:  The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments.  There is no guarantee that the adviser's investment strategy will produce the desired results.


· Market Risk:  The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time, and tend to be more volatile than other investment choices.


· Small-Cap and Mid-Cap Securities Risk:  The Fund may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies.  Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies.  Securities of these types of companies have limited market liquidity, and their prices may be more volatile.  You should expect that the value of the Fund’s shares will be more volatile than a fund that invests exclusively in large-capitalization companies.

Performance:

Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.  In the future, performance information will be presented in this section of the Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.tpfg.com or by calling 1-888-451-TPFG.

XML 16 R36.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Pacific Financial Faith & Values Based Aggressive Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The investment objective of the Fund is to seek long-term capital appreciation.

Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund:
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover:
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio).  A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance.  

Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Based on estimated amounts for the current fiscal year.
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates Based on estimated amounts for the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
Expense Example [Heading] rr_ExpenseExampleHeading Example:
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.  

Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies:
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

The Fund pursues its investment objective by implementing the strategies detailed below.  Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process."  The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus.   The Fund may invest in other investment companies, including ETFs (“Underlying Funds”).  ETFs in which the Fund invests typically seek to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index.


The Faith & Values Based Aggressive Fund invests primarily in equity securities.  These equity securities will consist primarily of securities issued by U.S. entities or other investment companies (including ETFs) that invest primarily in U.S. common stock.  However, the Fund may also invest up to 40% of its net assets in foreign securities or Underlying Funds that invest in foreign securities, of any capitalization or geographic location (including emerging markets) .   In selecting securities for the Fund, the adviser will apply an ethical screening, and exclude from the Fund any company that derives more than 20% of its revenues from abortion, pornography, liquor or tobacco, or is otherwise determined to be involved in promoting abortion, pornography, liquor or tobacco .  The Fund’s ethical screening is provided by a third party research firm which will be utilized to apply the Fund’s ethical screens and provide the adviser a list of securities that do not satisfy the ethical screening criteria and therefore are not eligible for investment .   The Fund may also invest in fixed income securities of any credit quality or maturity directly or through Underlying Funds (including ETFs).  It may invest in leveraged Underlying Funds and up to 10% of its net assets in derivative securities of any kind.  The Fund’s investments in leveraged funds and derivative securities are expected to consist primarily of options, futures contracts, or options on futures contracts.  The Fund uses derivative investments for leverage, to increase the potential return on an investment.   The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments.


In selecting the Faith Based Aggressive Fund’s positions, the adviser will use its proprietary investment research "Rational Analysis" processes, as described below, excluding from consideration, those companies that are not eligible for investment under the ethical screening criteria described above .  The particular allocation of positions will change from time to time as market forces dictate.  


  The adviser ’s “Rational Analysis” uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions.  Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model.  The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.


· Technical Analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume.  Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity.  Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.


· Fundamental Analysis is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors.  Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks.  Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.


· Quantitative Studies:  The adviser uses mathematic analytics and modeling of portfolios.  Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions.  The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.

Risk [Heading] rr_RiskHeading Principal Risks:
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.  Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.


· Company Risk:  The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole.  The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.


· Derivatives Risk:  Derivative instruments derive their value from the value of an underlying security, currency, or index.  Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; risks of default by the other party to the derivative instrument; risks that the transactions may result in losses of all or in excess of any gain in the portfolio positions; and risks that the transactions may not be liquid.


· Emerging Markets Risk :  In addition to the risks generally associated with investing in foreign securities, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues.


·   ETF and Underlying Fund Risk .   Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.  As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.  Each Underlying Fund is subject to specific risks, depending on its investments.


· Ethical Investing Risk.  The Funds social and moral governance criteria limit the available investments compared to funds with no such criteria.  Under certain economic conditions, this could cause the Funds investment performance to be worse or better than similar funds with no such criteria.


· Foreign Risk:  The Fund's performance may depend on issues other than the performance of a particular company or U.S. market sector.  The values of foreign investments may be affected by changes in exchange control regulations, application of foreign tax laws (including withholding tax) changes in governmental administration or economic or monetary policy (in this country or abroad) or changed circumstances in dealings between nations.  The value of foreign securities is also affected by the value of the local currency relative to the U.S. dollar.


· Futures and Options Risk.  The use of options, futures contracts or options on futures contracts for risk management or hedging purposes may not be successful, resulting in losses to the Fund.  In addition, the cost of hedging may reduce the Funds returns, and the use of futures and options for investment purposes increases the Funds potential for loss.


· Hedging Risk:  Although derivative instruments may be used to offset or hedge against losses on an opposite position, such hedges can also potentially offset any gains on the opposite position. The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss.  The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.


· Leverage Risk :   The use of leverage may exaggerate changes in a Funds share price and the return on its investments.  Accordingly, the value of the Funds investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified.  Any losses suffered by a leveraged Underlying Fund or the Fund as a result of the use of leverage could adversely affect the Fund’s net asset value and an investor could incur a loss in their investment in the Fund.  Borrowing also leads to additional interest expense and other fees that increase the Fund’s expenses.


Limited History of Operations Risk :  The Fund is a new mutual fund and has a limited history of operations.


· Management Risk:  The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments.  There is no guarantee that the adviser's investment strategy will produce the desired results.


· Market Risk:  The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time, and tend to be more volatile than other investment choices.


· Portfolio Turnover Risk:  Portfolio turnover results in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Higher costs associated with increased portfolio turnover may offset gains in the Fund's performance.


· Small-Cap and Mid-Cap Securities Risk:  The Fund may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies.  Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies.  Securities of these types of companies have limited market liquidity, and their prices may be more volatile.  You should expect that the value of the Fund’s shares will be more volatile than a fund that invests exclusively in large-capitalization companies.

Risk Lose Money [Text] rr_RiskLoseMoney As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance:
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.  In the future, performance information will be presented in this section of the Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.tpfg.com or by calling 1-888-451-TPFG.

Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-888-451-TPFG
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.tpfg.com
Pacific Financial Faith & Values Based Aggressive Fund Institutional Class Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed) rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.58% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.80% [1],[2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.63%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 266
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 817
Pacific Financial Faith & Values Based Aggressive Fund Investor Class Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed) rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.58% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.80% [1],[2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.63%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 341
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 1,039
[1] Based on estimated amounts for the current fiscal year.
[2] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
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XML 18 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Pacific Financial Flexible Growth & Income Fund
Pacific Financial Flexible Growth & Income Fund
Investment Objective:

The investment objective of the Fund is to seek total return.

Fees and Expenses of the Fund:

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)
Shareholder Fees Pacific Financial Flexible Growth & Income Fund
Pacific Financial Flexible Growth & Income Fund Institutional Class Shares
Pacific Financial Flexible Growth & Income Fund Investor Class Shares
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) none none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) none none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions none none
Redemption Fee (as a percentage of amount redeemed) none none
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses Pacific Financial Flexible Growth & Income Fund
Pacific Financial Flexible Growth & Income Fund Institutional Class Shares
Pacific Financial Flexible Growth & Income Fund Investor Class Shares
Management Fees 1.00% 1.00%
Distribution and Service (12b-1) Fees 0.25% 1.00%
Other Expenses [1] 0.58% 0.58%
Acquired Fund Fees and Expenses [1][2] 0.80% 0.80%
Total Annual Fund Operating Expenses 2.63% 2.63%
[1] Based on estimated amounts for the current fiscal year.
[2] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
Example:

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.  

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Expense Example Pacific Financial Flexible Growth & Income Fund (USD $)
1 Year
3 Years
Pacific Financial Flexible Growth & Income Fund Institutional Class Shares
266 817
Pacific Financial Flexible Growth & Income Fund Investor Class Shares
341 1,039
Portfolio Turnover:

 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio).  A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance.  

Principal Investment Strategies:

The Fund pursues its investment objective by implementing the strategies detailed below.  Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process."  The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus.   The Fund may invest in other investment companies, including ETFs (“Underlying Funds”).  ETFs in which the Fund invests typically seek to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index.   


The Flexible Growth & Income Fund invests in a balanced portfolio of equity and fixed income securities through a variety of alternative strategies that the adviser believes can achieve the Fund’s investment objective by generating above average portfolio income and growth.   Under normal circumstances, the Fund will invest at least 25% of its assets in equity securities and at least 25% of its assets in fixed income securities.   This Fund is designed to have an aggressive level of risk and may invest in other open-end mutual funds, including ETFs, dividend producing closed-end mutual funds and listed securities (both equities and fixed income) of any capitalization-size or geographic location, as well as  mortgage backed securities, mortgage REITs and Mortgage Investment Corporations, option strategies, long/short positions, managed futures, hedge funds, commodity- and currency-related securities or strategies and illiquid securities, including invest up to 10% of its net assets in hedge funds.  The Fund may also invest in leveraged Underlying Funds and up to 10% of the Fund’s net assets in derivative securities of any kind.  The Fund’s investments in derivative securities are expected to consist primarily of future contracts on financial and commodity markets .   The Fund uses derivative investments for leverage, to increase the potential return on an investment.   The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments.  While the Fund typically seeks to invest in investment grade fixed income securities (rated “BBB-” or better by S&P), there is no minimum credit quality or maturity and the Fund may invest in fixed income securities of any credit quality or maturity.


In selecting the Flexible Growth & Income Fund’s positions, the adviser will use its proprietary investment research "Rational Analysis" processes, as described below.  The particular allocation of positions will change from time to time as market forces and the Fund’s aggressive strategy dictate.   The adviser ’s Rational Analysis uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions.  Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model.  The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.


· Technical Analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume.  Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity.  Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.


· Fundamental Analysis is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors.  Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks.  Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.


· Quantitative Studies:  The adviser uses mathematic analytics and modeling of portfolios.  Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions.  The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.

Principal Risks:

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.  Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.


· Commodities Risk:  The value of commodities related investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, and tariffs.  The prices of industrial metals, precious metals, agriculture, and livestock commodities may fluctuate widely due to factors such as changes in value, supply and demand, and governmental regulatory policies.


· Company Risk:  The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole.  The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.


· Currency Risk:  The Fund's net asset value could decline as a result of changes in the exchange rates between foreign currencies and the U.S. dollar. Additionally, certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal and interest to investors located outside the country, due to blockage of foreign currency exchanges or otherwise.  


· Derivatives Risk:  Derivative instruments derive their value from the value of an underlying security, currency, or index.  Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; risks of default by the other party to the derivative instrument; risks that the transactions may result in losses of all or in excess of any gain in the portfolio positions; and risks that the transactions may not be liquid.


· Emerging Markets Risk:  In addition to the risks generally associated with investing in foreign securities, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues.


·  ETF and Underlying Fund Risk .   Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.  As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.  Each Underlying Fund is subject to specific risks, depending on its investments.


· Fixed Income Risk:   Typically, a rise in interest rates causes a decline in the value of the bond owned by the Fund.  Other risk factors include credit risk, maturity risk, market risk, extension risk, illiquid security risks, foreign securities risk, and prepayment risk.  In addition, bond ETFs and mutual funds, may invest in what are sometimes referred to as "junk bonds." Such securities are speculative investments that carry greater risks and are more susceptible to real or perceived adverse economic and competitive industry conditions than higher quality debt securities.


· Futures and Options Risk.  The use of options, futures contracts or options on futures contracts for risk management or hedging purposes may not be successful, resulting in losses to the Fund.  In addition, the cost of hedging may reduce the Funds returns, and the use of futures and options for investment purposes increases the Funds potential for loss.


· Foreign Risk:  The Fund's performance may depend on issues other than the performance of a particular company or U.S. market sector.  The values of foreign investments may be affected by changes in exchange control regulations, application of foreign tax laws (including withholding tax) changes in governmental administration or economic or monetary policy (in this country or abroad) or changed circumstances in dealings between nations.  The value of foreign securities is also affected by the value of the local currency relative to the U.S. dollar.


· Hedging Risk:  Although derivative instruments may be used to offset or hedge against losses on an opposite position, such hedges can also potentially offset any gains on the opposite position. The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss.  The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.


· Leverage Risk:   The use of leverage may exaggerate changes in a Funds share price and the return on its investments.  Accordingly, the value of the Funds investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified.  Any losses suffered by leveraged Underlying Funds or the Fund as a result of the use of leverage could adversely affect the Fund’s net asset value and an investor could incur a loss in their investment in the Fund.  Borrowing also leads to additional interest expense and other fees that increase the Fund’s expenses.


Limited History of Operations Risk :  The Fund is a new mutual fund and has a limited history of operations.


· Managed Futures Risk:  Investing in managed futures exposes the Fund to management risk, derivatives risk, leverage risk, as well as commodity, interest rate, equity and foreign currency risks depending on the particular strategy used.  A manager's judgments about the price appreciation of various futures contracts may prove incorrect and result in losses. The Fund's use of derivatives (including futures and options on futures) to enhance returns or hedge against market declines is subject to the risk of mispricing or improper valuation and changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index.  Investments in derivatives may involve leverage, which means a small percentage of assets invested in derivatives can have a disproportionately large impact.  Commodity, interest rate, equity and foreign currency futures are subject to unfavorable price movements as well as specific risks described more fully in paragraphs above.


· Management Risk:  The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments.  There is no guarantee that the adviser's investment strategy will produce the desired results.


· Market Risk:  The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time, and tend to be more volatile than other investment choices.


· Portfolio Turnover Risk:  Portfolio turnover results in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Higher costs associated with increased portfolio turnover may offset gains in the Fund's performance.


· Real Estate Risk: Real estate related investments are subject to risks related to possible declines in the value of real estate; general and local economic conditions; possible lack of availability of mortgage funds; overbuilding; extended vacancies of properties; increases in competition, property taxes, and operating expenses; changes in zoning laws; costs resulting from the clean-up of, and liability to third parties for damages resulting from, environmental problems; casualty or condemnation losses; uninsured damages from floods, earthquakes, or other natural disasters; limitations on and variations in rents; and changes in interest rates. 


· Small-Cap and Mid-Cap Securities Risk:  The Fund may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies.  Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies.  Securities of these types of companies have limited market liquidity, and their prices may be more volatile.  You should expect that the value of the Fund’s shares will be more volatile than a fund that invests exclusively in large-capitalization companies.

Performance:

Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.  In the future, performance information will be presented in this section of the Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.tpfg.com or by calling 1-888-451-TPFG.

XML 19 R17.htm IDEA: XBRL DOCUMENT v2.4.0.6
Pacific Financial Foundational Asset Allocation Fund
Pacific Financial Foundational Asset Allocation Fund
Investment Objective:

The investment objective of the Fund is to seek long-term capital appreciation.

Fees and Expenses of the Fund:

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)
Shareholder Fees Pacific Financial Foundational Asset Allocation Fund
Pacific Financial Foundational Asset Allocation Fund Institutional Class Shares
Pacific Financial Foundational Asset Allocation Fund Investor Class Shares
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) none none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) none none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions none none
Redemption Fee (as a percentage of amount redeemed) none none
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses Pacific Financial Foundational Asset Allocation Fund
Pacific Financial Foundational Asset Allocation Fund Institutional Class Shares
Pacific Financial Foundational Asset Allocation Fund Investor Class Shares
Management Fees 1.00% 1.00%
Distribution and Service (12b-1) Fees 0.25% 1.00%
Other Expenses [1] 0.58% 0.58%
Acquired Fund Fees and Expenses [1][2] 0.80% 0.80%
Total Annual Fund Operating Expenses 2.63% 2.63%
[1] Based on estimated amounts for the current fiscal year.
[2] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
Example:

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.  

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Expense Example Pacific Financial Foundational Asset Allocation Fund (USD $)
1 Year
3 Years
Pacific Financial Foundational Asset Allocation Fund Institutional Class Shares
266 817
Pacific Financial Foundational Asset Allocation Fund Investor Class Shares
341 1,039
Portfolio Turnover:

 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio).  A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance.  

Principal Investment Strategies:

The Fund pursues its investment objective by implementing the strategies detailed below.  Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process."  The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus.   The Fund may invest in other investment companies, including ETFs (“Underlying Funds”).  ETFs in which the Fund invests typically seek to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index.


The Foundational Asset Allocation Fund invests U.S. and International fixed income and equity securities, as determined by the sector allocation portfolio the adviser has designed to produce long-term capital appreciation.   The Fund may invest up to 40% of its net assets in foreign securities, including ADRs or securities issued by foreign companies, including emerging market securities.   The adviser seeks diversity across those sectors it believes a re positioned to provide consistent returns over the long term.  Under normal circumstances the Fund expects to invest in 6 to 12 sectors at any time, with investments in 20 to 75 positions.  The Fund’s  asset allocation is expected to be developed annually, but reviewed at least quarterly for style consistency and performance.  The Fund may invest in equity securities of any kind and any capitalization, sector or geographic location , including REITs and commodity-related securities or strategies, directly or through Underlying Funds , including ETFs.   While the Fund typically seeks to invest in investment grade fixed income securities (rated “BBB-” or better by S&P), there is no minimum credit quality or maturity and the Fund may invest in fixed income securities of any credit quality or maturity directly or through Underlying Funds.


The Fund may also invest up to 10% of its net assets in derivative securities of any kind.   The Fund may also invest in leveraged ETFs or other Underlying Funds.    The Fund’s investments in derivative securities are expected to consist primarily of options, futures contracts or options on futures contracts.  The Fund uses derivative investments for leverage, to increase the potential return on an investment .   The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments.


In selecting the Foundational Asset Allocation's positions, the adviser will use its proprietary investment research "Rational Analysis" processes, as described below.  The particular allocation of positions will change from time to time as market forces and the Fund’s moderate strategy dictate.     The adviser’s “Rational Analysis” uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions.  Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model.  The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.


· Technical Analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume.  Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity.  Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.


· Fundamental Analysis is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors.  Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks.  Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.


· Quantitative Studies:  The adviser uses mathematic analytics and modeling of portfolios.  Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions.  The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.

Principal Risks:

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.  Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.


· Asset Class Risk.  Securities in any particular sector or asset class in which the Fund invests may underperform in comparison to the general securities market or other asset classes.


· Commodities Risk:  The value of commodities related investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, and tariffs.  The prices of industrial metals, precious metals, agriculture, and livestock commodities may fluctuate widely due to factors such as changes in value, supply and demand, and governmental regulatory policies.


· Company Risk:  The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole.  The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.


· Currency Risk:  The Fund's net asset value could decline as a result of changes in the exchange rates between foreign currencies and the U.S. dollar. Additionally, certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal and interest to investors located outside the country, due to blockage of foreign currency exchanges or otherwise.  


· Emerging Markets Risk: In addition to the risks generally associated with investing in foreign securities, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues.


·   ETF and Underlying Fund Risk .   Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.  As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.  Each Underlying Fund is subject to specific risks, depending on its investments.


· Fixed Income Risk:   Typically, a rise in interest rates causes a decline in the value of the bond owned by the Fund.  Other risk factors include credit risk, maturity risk, market risk, extension risk, illiquid security risks, foreign securities risk, and prepayment risk.  In addition, bond ETFs and mutual funds, may invest in what are sometimes referred to as "junk bonds." Such securities are speculative investments that carry greater risks and are more susceptible to real or perceived adverse economic and competitive industry conditions than higher quality debt securities.


· Foreign Risk:  The Fund's performance may depend on issues other than the performance of a particular company or U.S. market sector.  The values of foreign investments may be affected by changes in exchange control regulations, application of foreign tax laws (including withholding tax) changes in governmental administration or economic or monetary policy (in this country or abroad) or changed circumstances in dealings between nations.  The value of foreign securities is also affected by the value of the local currency relative to the U.S. dollar.


· Futures and Options Risk.  The use of options, futures contracts or options on futures contracts for risk management or hedging purposes may not be successful, resulting in losses to the Fund.  In addition, the cost of hedging may reduce the Funds returns, and the use of futures and options for investment purposes increases the Funds potential for loss.


· Hedging Risk: Although derivative instruments may be used to offset or hedge against losses on an opposite position, such hedges can also potentially offset any gains on the opposite position. The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss.  The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.


· Leverage Risk :   The use of leverage may exaggerate changes in a Funds share price and the return on its investments.  Accordingly, the value of the Funds investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified.  Any losses suffered by a leveraged Underlying Fund or the Fund as a result of the use of leverage could adversely affect the Fund’s net asset value and an investor could incur a loss in their investment in the Fund.  Borrowing also leads to additional interest expense and other fees that increase the Fund’s expenses.


Limited History of Operations Risk :  The Fund is a new mutual fund and has a limited history of operations.


· Management Risk:  The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments.  There is no guarantee that the adviser's investment strategy will produce the desired results.


· Market Risk:  The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time, and tend to be more volatile than other investment choices.


· Portfolio Turnover Risk:  Portfolio turnover results in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Higher costs associated with increased portfolio turnover may offset gains in the Fund's performance.


· Real Estate Risk:   Real estate related investments are subject to risks related to possible declines in the value of real estate; general and local economic conditions; possible lack of availability of mortgage funds; overbuilding; extended vacancies of properties; increases in competition, property taxes, and operating expenses; changes in zoning laws; costs resulting from the clean-up of, and liability to third parties for damages resulting from, environmental problems; casualty or condemnation losses; uninsured damages from floods, earthquakes, or other natural disasters; limitations on and variations in rents; and changes in interest rates.


· Small-Cap and Mid-Cap Securities Risk:  The Fund may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies.  Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies.  Securities of these types of companies have limited market liquidity, and their prices may be more volatile.  You should expect that the value of the Fund’s shares will be more volatile than a fund that invests exclusively in large-capitalization companies.

Performance:

Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.  In the future, performance information will be presented in this section of the Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.tpfg.com or by calling 1-888-451-TPFG.

XML 20 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Document and Entity Information
0 Months Ended
Apr. 30, 2012
Risk/Return:  
Document Type 485BPOS
Document Period End Date Apr. 30, 2012
Registrant Name Northern Lights Fund Trust
Central Index Key 0001314414
Amendment Flag false
Document Creation Date Dec. 31, 2012
Document Effective Date Dec. 31, 2012
Prospectus Date Dec. 31, 2012
XML 21 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6
Pacific Financial Balanced Fund
Pacific Financial Balanced Fund
Investment Objective:

The investment objective of the Fund is to seek total return.

Fees and Expenses of the Fund:

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)
Shareholder Fees Pacific Financial Balanced Fund
Pacific Financial Balanced Fund Institutional Class Shares
Pacific Financial Balanced Fund Investor Class Shares
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) none none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) none none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions none none
Redemption Fee (as a percentage of amount redeemed) none none
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses Pacific Financial Balanced Fund
Pacific Financial Balanced Fund Institutional Class Shares
Pacific Financial Balanced Fund Investor Class Shares
Management Fees 1.00% 1.00%
Distribution and Service (12b-1) Fees 0.25% 1.00%
Other Expenses [1] 0.58% 0.58%
Acquired Fund Fees and Expenses [1][2] 0.80% 0.80%
Total Annual Fund Operating Expenses 2.63% 2.63%
[1] Based on estimated amounts for the current fiscal year.
[2] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
Example:

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.  

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Expense Example Pacific Financial Balanced Fund (USD $)
1 Year
3 Years
Pacific Financial Balanced Fund Institutional Class Shares
266 817
Pacific Financial Balanced Fund Investor Class Shares
341 1,039
Portfolio Turnover:

 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio).  A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance.  

Principal Investment Strategies:

The Fund pursues its investment objective by implementing the strategies detailed below.  Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process."  The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus.   The Fund may invest in other investment companies, including ETFs (“Underlying Funds”).  ETFs in which the Fund invests typically seek to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index.


The Balanced Fund seeks to achieve its investment objective by investing in a balanced portfolio of fixed income and equity securities.  Under normal circumstances, the Fund will invest at least 25% of its assets in equity securities and at least 25% of its assets in fixed income securities.  The Fund will invest the fixed income portion of the portfolio directly or in other investment companies (including ETFs) that invest primarily in fixed income and income producing securities such as government bonds, corporate bonds, municipal bonds, and dividend-paying equity securities.  While the Fund typically seeks to invest in investment grade fixed income securities (rated “BBB-” or better by S&P), there is no minimum credit quality or maturity and the Fund may invest in fixed income securities of any credit quality or maturity.   The Fund will also invest in equity securities directly or through other investment companies (including ETFs) that invest in common stock of U.S. or foreign companies of any capitalization or geographic location and may invest in REITs .   T he Fund may invest up to 40% in foreign investments, including ADRs, or securities of foreign companies, including emerging market securities .  The Fund may invest in leveraged Underlying Funds and up to 10% of the Fund’s net assets in derivative securities of any kind.  The Fund’s investments in derivative securities are expected to consist primarily of options, futures contracts or options on futures contracts.  The Fund uses leveraged Underlying Funds and derivative investments for leverage, to increase the potential return on an investment.   The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments.


In selecting the Balanced Fund's positions, the adviser will use its proprietary investment research process called "Rational Analysis" , as described below.  The particular allocation of positions will change from time to time as market forces and the Fund’s moderate strategy dictate.  


The adviser’s “Rational Analysis” uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions.  Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model.  The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.


· Technical Analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume.  Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity.  Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.


· Fundamental Analysis is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors.  Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks.  Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.


· Quantitative Studies:  The adviser uses mathematic analytics and modeling of portfolios.  Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions.  The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.

Principal Risks:

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.  Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.


· Company Risk:  The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole.  The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.


· Derivatives Risk:  Derivative instruments derive their value from the value of an underlying security, currency, or index.  Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; risks of default by the other party to the derivative instrument; risks that the transactions may result in losses of all or in excess of any gain in the portfolio positions; and risks that the transactions may not be liquid.


· Emerging Markets Risk:  In addition to the risks generally associated with investing in foreign securities, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues.


·   ETF and Underlying Fund Risk .   Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.  As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.  Each Underlying Fund is subject to specific risks, depending on its investments.


· Fixed Income Risk:   Typically, a rise in interest rates causes a decline in the value of the bond owned by the Fund.  Other risk factors include credit risk, maturity risk, market risk, extension risk, illiquid security risks, foreign securities risk, and prepayment risk.  In addition, bond ETFs and mutual funds, may invest in what are sometimes referred to as "junk bonds." Such securities are speculative investments that carry greater risks and are more susceptible to real or perceived adverse economic and competitive industry conditions than higher quality debt securities.


· Foreign Risk:  The Fund's performance may depend on issues other than the performance of a particular company or U.S. market sector.  The values of foreign investments may be affected by changes in exchange control regulations, application of foreign tax laws (including withholding tax) changes in governmental administration or economic or monetary policy (in this country or abroad) or changed circumstances in dealings between nations.  The value of foreign securities is also affected by the value of the local currency relative to the U.S. dollar.


· Futures and Options Risk.  The use of options, futures contracts or options on futures contracts for risk management or hedging purposes may not be successful, resulting in losses to the Fund.  In addition, the cost of hedging may reduce the Funds returns, and the use of futures and options for investment purposes increases the Funds potential for loss.


· Hedging Risk:  Although derivative instruments may be used to offset or hedge against losses on an opposite position, such hedges can also potentially offset any gains on the opposite position. The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss.  The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.


· Leverage Risk :   The use of leverage may exaggerate changes in a Funds share price and the return on its investments.  Accordingly, the value of the Funds investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified.  Any losses suffered by leveraged Underlying Funds or the Fund as a result of the use of leverage could adversely affect the Fund’s net asset value and an investor could incur a loss in their investment in the Fund.  Borrowing also leads to additional interest expense and other fees that increase the Fund’s expenses.


Limited History of Operations Risk :  The Fund is a new mutual fund and has a limited history of operations.


· Management Risk:  The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments.  There is no guarantee that the adviser's investment strategy will produce the desired results.


· Market Risk:  The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time, and tend to be more volatile than other investment choices.


· Portfolio Turnover Risk:  Portfolio turnover results in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Higher costs associated with increased portfolio turnover may offset gains in the Fund's performance.


· Real Estate Risk: Real estate related investments are subject to risks related to possible declines in the value of real estate; general and local economic conditions; possible lack of availability of mortgage funds; overbuilding; extended vacancies of properties; increases in competition, property taxes, and operating expenses; changes in zoning laws; costs resulting from the clean-up of, and liability to third parties for damages resulting from, environmental problems; casualty or condemnation losses; uninsured damages from floods, earthquakes, or other natural disasters; limitations on and variations in rents; and changes in interest rates. 


· Small-Cap and Mid-Cap Securities Risk:  The Fund may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies.  Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies.  Securities of these types of companies have limited market liquidity, and their prices may be more volatile.  You should expect that the value of the Fund’s shares will be more volatile than a fund that invests exclusively in large-capitalization companies.

Performance:

Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.  In the future, performance information will be presented in this section of the Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.tpfg.com or by calling 1-888-451-TPFG.

XML 22 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Pacific Financial Flexible Growth & Income Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The investment objective of the Fund is to seek total return.

Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund:
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover:
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio).  A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance.  

Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Based on estimated amounts for the current fiscal year.
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates Based on estimated amounts for the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
Expense Example [Heading] rr_ExpenseExampleHeading Example:
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.  

Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies:
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

The Fund pursues its investment objective by implementing the strategies detailed below.  Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process."  The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus.   The Fund may invest in other investment companies, including ETFs (“Underlying Funds”).  ETFs in which the Fund invests typically seek to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index.   


The Flexible Growth & Income Fund invests in a balanced portfolio of equity and fixed income securities through a variety of alternative strategies that the adviser believes can achieve the Fund’s investment objective by generating above average portfolio income and growth.   Under normal circumstances, the Fund will invest at least 25% of its assets in equity securities and at least 25% of its assets in fixed income securities.   This Fund is designed to have an aggressive level of risk and may invest in other open-end mutual funds, including ETFs, dividend producing closed-end mutual funds and listed securities (both equities and fixed income) of any capitalization-size or geographic location, as well as  mortgage backed securities, mortgage REITs and Mortgage Investment Corporations, option strategies, long/short positions, managed futures, hedge funds, commodity- and currency-related securities or strategies and illiquid securities, including invest up to 10% of its net assets in hedge funds.  The Fund may also invest in leveraged Underlying Funds and up to 10% of the Fund’s net assets in derivative securities of any kind.  The Fund’s investments in derivative securities are expected to consist primarily of future contracts on financial and commodity markets .   The Fund uses derivative investments for leverage, to increase the potential return on an investment.   The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments.  While the Fund typically seeks to invest in investment grade fixed income securities (rated “BBB-” or better by S&P), there is no minimum credit quality or maturity and the Fund may invest in fixed income securities of any credit quality or maturity.


In selecting the Flexible Growth & Income Fund’s positions, the adviser will use its proprietary investment research "Rational Analysis" processes, as described below.  The particular allocation of positions will change from time to time as market forces and the Fund’s aggressive strategy dictate.   The adviser ’s Rational Analysis uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions.  Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model.  The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.


· Technical Analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume.  Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity.  Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.


· Fundamental Analysis is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors.  Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks.  Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.


· Quantitative Studies:  The adviser uses mathematic analytics and modeling of portfolios.  Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions.  The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.

Risk [Heading] rr_RiskHeading Principal Risks:
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.  Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.


· Commodities Risk:  The value of commodities related investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, and tariffs.  The prices of industrial metals, precious metals, agriculture, and livestock commodities may fluctuate widely due to factors such as changes in value, supply and demand, and governmental regulatory policies.


· Company Risk:  The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole.  The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.


· Currency Risk:  The Fund's net asset value could decline as a result of changes in the exchange rates between foreign currencies and the U.S. dollar. Additionally, certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal and interest to investors located outside the country, due to blockage of foreign currency exchanges or otherwise.  


· Derivatives Risk:  Derivative instruments derive their value from the value of an underlying security, currency, or index.  Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; risks of default by the other party to the derivative instrument; risks that the transactions may result in losses of all or in excess of any gain in the portfolio positions; and risks that the transactions may not be liquid.


· Emerging Markets Risk:  In addition to the risks generally associated with investing in foreign securities, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues.


·  ETF and Underlying Fund Risk .   Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.  As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.  Each Underlying Fund is subject to specific risks, depending on its investments.


· Fixed Income Risk:   Typically, a rise in interest rates causes a decline in the value of the bond owned by the Fund.  Other risk factors include credit risk, maturity risk, market risk, extension risk, illiquid security risks, foreign securities risk, and prepayment risk.  In addition, bond ETFs and mutual funds, may invest in what are sometimes referred to as "junk bonds." Such securities are speculative investments that carry greater risks and are more susceptible to real or perceived adverse economic and competitive industry conditions than higher quality debt securities.


· Futures and Options Risk.  The use of options, futures contracts or options on futures contracts for risk management or hedging purposes may not be successful, resulting in losses to the Fund.  In addition, the cost of hedging may reduce the Funds returns, and the use of futures and options for investment purposes increases the Funds potential for loss.


· Foreign Risk:  The Fund's performance may depend on issues other than the performance of a particular company or U.S. market sector.  The values of foreign investments may be affected by changes in exchange control regulations, application of foreign tax laws (including withholding tax) changes in governmental administration or economic or monetary policy (in this country or abroad) or changed circumstances in dealings between nations.  The value of foreign securities is also affected by the value of the local currency relative to the U.S. dollar.


· Hedging Risk:  Although derivative instruments may be used to offset or hedge against losses on an opposite position, such hedges can also potentially offset any gains on the opposite position. The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss.  The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.


· Leverage Risk:   The use of leverage may exaggerate changes in a Funds share price and the return on its investments.  Accordingly, the value of the Funds investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified.  Any losses suffered by leveraged Underlying Funds or the Fund as a result of the use of leverage could adversely affect the Fund’s net asset value and an investor could incur a loss in their investment in the Fund.  Borrowing also leads to additional interest expense and other fees that increase the Fund’s expenses.


Limited History of Operations Risk :  The Fund is a new mutual fund and has a limited history of operations.


· Managed Futures Risk:  Investing in managed futures exposes the Fund to management risk, derivatives risk, leverage risk, as well as commodity, interest rate, equity and foreign currency risks depending on the particular strategy used.  A manager's judgments about the price appreciation of various futures contracts may prove incorrect and result in losses. The Fund's use of derivatives (including futures and options on futures) to enhance returns or hedge against market declines is subject to the risk of mispricing or improper valuation and changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index.  Investments in derivatives may involve leverage, which means a small percentage of assets invested in derivatives can have a disproportionately large impact.  Commodity, interest rate, equity and foreign currency futures are subject to unfavorable price movements as well as specific risks described more fully in paragraphs above.


· Management Risk:  The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments.  There is no guarantee that the adviser's investment strategy will produce the desired results.


· Market Risk:  The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time, and tend to be more volatile than other investment choices.


· Portfolio Turnover Risk:  Portfolio turnover results in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Higher costs associated with increased portfolio turnover may offset gains in the Fund's performance.


· Real Estate Risk: Real estate related investments are subject to risks related to possible declines in the value of real estate; general and local economic conditions; possible lack of availability of mortgage funds; overbuilding; extended vacancies of properties; increases in competition, property taxes, and operating expenses; changes in zoning laws; costs resulting from the clean-up of, and liability to third parties for damages resulting from, environmental problems; casualty or condemnation losses; uninsured damages from floods, earthquakes, or other natural disasters; limitations on and variations in rents; and changes in interest rates. 


· Small-Cap and Mid-Cap Securities Risk:  The Fund may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies.  Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies.  Securities of these types of companies have limited market liquidity, and their prices may be more volatile.  You should expect that the value of the Fund’s shares will be more volatile than a fund that invests exclusively in large-capitalization companies.

Risk Lose Money [Text] rr_RiskLoseMoney As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance:
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.  In the future, performance information will be presented in this section of the Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.tpfg.com or by calling 1-888-451-TPFG.

Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-888-451-TPFG
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.tpfg.com
Pacific Financial Flexible Growth & Income Fund Institutional Class Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed) rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.58% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.80% [1],[2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.63%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 266
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 817
Pacific Financial Flexible Growth & Income Fund Investor Class Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed) rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.58% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.80% [1],[2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.63%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 341
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 1,039
[1] Based on estimated amounts for the current fiscal year.
[2] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
XML 23 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Pacific Financial Balanced Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The investment objective of the Fund is to seek total return.

Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund:
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover:
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio).  A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance.  

Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Based on estimated amounts for the current fiscal year.
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates Based on estimated amounts for the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
Expense Example [Heading] rr_ExpenseExampleHeading Example:
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.  

Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies:
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

The Fund pursues its investment objective by implementing the strategies detailed below.  Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process."  The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus.   The Fund may invest in other investment companies, including ETFs (“Underlying Funds”).  ETFs in which the Fund invests typically seek to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index.


The Balanced Fund seeks to achieve its investment objective by investing in a balanced portfolio of fixed income and equity securities.  Under normal circumstances, the Fund will invest at least 25% of its assets in equity securities and at least 25% of its assets in fixed income securities.  The Fund will invest the fixed income portion of the portfolio directly or in other investment companies (including ETFs) that invest primarily in fixed income and income producing securities such as government bonds, corporate bonds, municipal bonds, and dividend-paying equity securities.  While the Fund typically seeks to invest in investment grade fixed income securities (rated “BBB-” or better by S&P), there is no minimum credit quality or maturity and the Fund may invest in fixed income securities of any credit quality or maturity.   The Fund will also invest in equity securities directly or through other investment companies (including ETFs) that invest in common stock of U.S. or foreign companies of any capitalization or geographic location and may invest in REITs .   T he Fund may invest up to 40% in foreign investments, including ADRs, or securities of foreign companies, including emerging market securities .  The Fund may invest in leveraged Underlying Funds and up to 10% of the Fund’s net assets in derivative securities of any kind.  The Fund’s investments in derivative securities are expected to consist primarily of options, futures contracts or options on futures contracts.  The Fund uses leveraged Underlying Funds and derivative investments for leverage, to increase the potential return on an investment.   The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments.


In selecting the Balanced Fund's positions, the adviser will use its proprietary investment research process called "Rational Analysis" , as described below.  The particular allocation of positions will change from time to time as market forces and the Fund’s moderate strategy dictate.  


The adviser’s “Rational Analysis” uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions.  Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model.  The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.


· Technical Analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume.  Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity.  Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.


· Fundamental Analysis is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors.  Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks.  Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.


· Quantitative Studies:  The adviser uses mathematic analytics and modeling of portfolios.  Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions.  The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.

Risk [Heading] rr_RiskHeading Principal Risks:
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.  Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.


· Company Risk:  The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole.  The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.


· Derivatives Risk:  Derivative instruments derive their value from the value of an underlying security, currency, or index.  Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; risks of default by the other party to the derivative instrument; risks that the transactions may result in losses of all or in excess of any gain in the portfolio positions; and risks that the transactions may not be liquid.


· Emerging Markets Risk:  In addition to the risks generally associated with investing in foreign securities, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues.


·   ETF and Underlying Fund Risk .   Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.  As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.  Each Underlying Fund is subject to specific risks, depending on its investments.


· Fixed Income Risk:   Typically, a rise in interest rates causes a decline in the value of the bond owned by the Fund.  Other risk factors include credit risk, maturity risk, market risk, extension risk, illiquid security risks, foreign securities risk, and prepayment risk.  In addition, bond ETFs and mutual funds, may invest in what are sometimes referred to as "junk bonds." Such securities are speculative investments that carry greater risks and are more susceptible to real or perceived adverse economic and competitive industry conditions than higher quality debt securities.


· Foreign Risk:  The Fund's performance may depend on issues other than the performance of a particular company or U.S. market sector.  The values of foreign investments may be affected by changes in exchange control regulations, application of foreign tax laws (including withholding tax) changes in governmental administration or economic or monetary policy (in this country or abroad) or changed circumstances in dealings between nations.  The value of foreign securities is also affected by the value of the local currency relative to the U.S. dollar.


· Futures and Options Risk.  The use of options, futures contracts or options on futures contracts for risk management or hedging purposes may not be successful, resulting in losses to the Fund.  In addition, the cost of hedging may reduce the Funds returns, and the use of futures and options for investment purposes increases the Funds potential for loss.


· Hedging Risk:  Although derivative instruments may be used to offset or hedge against losses on an opposite position, such hedges can also potentially offset any gains on the opposite position. The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss.  The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.


· Leverage Risk :   The use of leverage may exaggerate changes in a Funds share price and the return on its investments.  Accordingly, the value of the Funds investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified.  Any losses suffered by leveraged Underlying Funds or the Fund as a result of the use of leverage could adversely affect the Fund’s net asset value and an investor could incur a loss in their investment in the Fund.  Borrowing also leads to additional interest expense and other fees that increase the Fund’s expenses.


Limited History of Operations Risk :  The Fund is a new mutual fund and has a limited history of operations.


· Management Risk:  The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments.  There is no guarantee that the adviser's investment strategy will produce the desired results.


· Market Risk:  The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time, and tend to be more volatile than other investment choices.


· Portfolio Turnover Risk:  Portfolio turnover results in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Higher costs associated with increased portfolio turnover may offset gains in the Fund's performance.


· Real Estate Risk: Real estate related investments are subject to risks related to possible declines in the value of real estate; general and local economic conditions; possible lack of availability of mortgage funds; overbuilding; extended vacancies of properties; increases in competition, property taxes, and operating expenses; changes in zoning laws; costs resulting from the clean-up of, and liability to third parties for damages resulting from, environmental problems; casualty or condemnation losses; uninsured damages from floods, earthquakes, or other natural disasters; limitations on and variations in rents; and changes in interest rates. 


· Small-Cap and Mid-Cap Securities Risk:  The Fund may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies.  Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies.  Securities of these types of companies have limited market liquidity, and their prices may be more volatile.  You should expect that the value of the Fund’s shares will be more volatile than a fund that invests exclusively in large-capitalization companies.

Risk Lose Money [Text] rr_RiskLoseMoney As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance:
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.  In the future, performance information will be presented in this section of the Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.tpfg.com or by calling 1-888-451-TPFG.

Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-888-451-TPFG
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.tpfg.com
Pacific Financial Balanced Fund Institutional Class Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed) rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.58% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.80% [1],[2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.63%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 266
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 817
Pacific Financial Balanced Fund Investor Class Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed) rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.58% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.80% [1],[2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.63%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 341
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 1,039
[1] Based on estimated amounts for the current fiscal year.
[2] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
XML 24 R21.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Pacific Financial Foundational Asset Allocation Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The investment objective of the Fund is to seek long-term capital appreciation.

Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund:
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover:
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio).  A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance.  

Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Based on estimated amounts for the current fiscal year.
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates Based on estimated amounts for the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
Expense Example [Heading] rr_ExpenseExampleHeading Example:
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.  

Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies:
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

The Fund pursues its investment objective by implementing the strategies detailed below.  Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process."  The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus.   The Fund may invest in other investment companies, including ETFs (“Underlying Funds”).  ETFs in which the Fund invests typically seek to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index.


The Foundational Asset Allocation Fund invests U.S. and International fixed income and equity securities, as determined by the sector allocation portfolio the adviser has designed to produce long-term capital appreciation.   The Fund may invest up to 40% of its net assets in foreign securities, including ADRs or securities issued by foreign companies, including emerging market securities.   The adviser seeks diversity across those sectors it believes a re positioned to provide consistent returns over the long term.  Under normal circumstances the Fund expects to invest in 6 to 12 sectors at any time, with investments in 20 to 75 positions.  The Fund’s  asset allocation is expected to be developed annually, but reviewed at least quarterly for style consistency and performance.  The Fund may invest in equity securities of any kind and any capitalization, sector or geographic location , including REITs and commodity-related securities or strategies, directly or through Underlying Funds , including ETFs.   While the Fund typically seeks to invest in investment grade fixed income securities (rated “BBB-” or better by S&P), there is no minimum credit quality or maturity and the Fund may invest in fixed income securities of any credit quality or maturity directly or through Underlying Funds.


The Fund may also invest up to 10% of its net assets in derivative securities of any kind.   The Fund may also invest in leveraged ETFs or other Underlying Funds.    The Fund’s investments in derivative securities are expected to consist primarily of options, futures contracts or options on futures contracts.  The Fund uses derivative investments for leverage, to increase the potential return on an investment .   The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments.


In selecting the Foundational Asset Allocation's positions, the adviser will use its proprietary investment research "Rational Analysis" processes, as described below.  The particular allocation of positions will change from time to time as market forces and the Fund’s moderate strategy dictate.     The adviser’s “Rational Analysis” uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions.  Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model.  The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.


· Technical Analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume.  Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity.  Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.


· Fundamental Analysis is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors.  Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks.  Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.


· Quantitative Studies:  The adviser uses mathematic analytics and modeling of portfolios.  Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions.  The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.

Risk [Heading] rr_RiskHeading Principal Risks:
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.  Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.


· Asset Class Risk.  Securities in any particular sector or asset class in which the Fund invests may underperform in comparison to the general securities market or other asset classes.


· Commodities Risk:  The value of commodities related investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, and tariffs.  The prices of industrial metals, precious metals, agriculture, and livestock commodities may fluctuate widely due to factors such as changes in value, supply and demand, and governmental regulatory policies.


· Company Risk:  The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole.  The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.


· Currency Risk:  The Fund's net asset value could decline as a result of changes in the exchange rates between foreign currencies and the U.S. dollar. Additionally, certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal and interest to investors located outside the country, due to blockage of foreign currency exchanges or otherwise.  


· Emerging Markets Risk: In addition to the risks generally associated with investing in foreign securities, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues.


·   ETF and Underlying Fund Risk .   Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.  As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.  Each Underlying Fund is subject to specific risks, depending on its investments.


· Fixed Income Risk:   Typically, a rise in interest rates causes a decline in the value of the bond owned by the Fund.  Other risk factors include credit risk, maturity risk, market risk, extension risk, illiquid security risks, foreign securities risk, and prepayment risk.  In addition, bond ETFs and mutual funds, may invest in what are sometimes referred to as "junk bonds." Such securities are speculative investments that carry greater risks and are more susceptible to real or perceived adverse economic and competitive industry conditions than higher quality debt securities.


· Foreign Risk:  The Fund's performance may depend on issues other than the performance of a particular company or U.S. market sector.  The values of foreign investments may be affected by changes in exchange control regulations, application of foreign tax laws (including withholding tax) changes in governmental administration or economic or monetary policy (in this country or abroad) or changed circumstances in dealings between nations.  The value of foreign securities is also affected by the value of the local currency relative to the U.S. dollar.


· Futures and Options Risk.  The use of options, futures contracts or options on futures contracts for risk management or hedging purposes may not be successful, resulting in losses to the Fund.  In addition, the cost of hedging may reduce the Funds returns, and the use of futures and options for investment purposes increases the Funds potential for loss.


· Hedging Risk: Although derivative instruments may be used to offset or hedge against losses on an opposite position, such hedges can also potentially offset any gains on the opposite position. The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss.  The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.


· Leverage Risk :   The use of leverage may exaggerate changes in a Funds share price and the return on its investments.  Accordingly, the value of the Funds investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified.  Any losses suffered by a leveraged Underlying Fund or the Fund as a result of the use of leverage could adversely affect the Fund’s net asset value and an investor could incur a loss in their investment in the Fund.  Borrowing also leads to additional interest expense and other fees that increase the Fund’s expenses.


Limited History of Operations Risk :  The Fund is a new mutual fund and has a limited history of operations.


· Management Risk:  The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments.  There is no guarantee that the adviser's investment strategy will produce the desired results.


· Market Risk:  The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time, and tend to be more volatile than other investment choices.


· Portfolio Turnover Risk:  Portfolio turnover results in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Higher costs associated with increased portfolio turnover may offset gains in the Fund's performance.


· Real Estate Risk:   Real estate related investments are subject to risks related to possible declines in the value of real estate; general and local economic conditions; possible lack of availability of mortgage funds; overbuilding; extended vacancies of properties; increases in competition, property taxes, and operating expenses; changes in zoning laws; costs resulting from the clean-up of, and liability to third parties for damages resulting from, environmental problems; casualty or condemnation losses; uninsured damages from floods, earthquakes, or other natural disasters; limitations on and variations in rents; and changes in interest rates.


· Small-Cap and Mid-Cap Securities Risk:  The Fund may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies.  Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies.  Securities of these types of companies have limited market liquidity, and their prices may be more volatile.  You should expect that the value of the Fund’s shares will be more volatile than a fund that invests exclusively in large-capitalization companies.

Risk Lose Money [Text] rr_RiskLoseMoney As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance:
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.  In the future, performance information will be presented in this section of the Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.tpfg.com or by calling 1-888-451-TPFG.

Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-888-451-TPFG
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.tpfg.com
Pacific Financial Foundational Asset Allocation Fund Institutional Class Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed) rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.58% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.80% [1],[2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.63%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 266
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 817
Pacific Financial Foundational Asset Allocation Fund Investor Class Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed) rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.58% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.80% [1],[2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.63%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 341
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 1,039
[1] Based on estimated amounts for the current fiscal year.
[2] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
XML 25 R26.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Pacific Financial Faith & Values Based Conservative Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The investment objective of the Fund is to seek preservation of capital and current income.

Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund:
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover:
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio).  A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance.  

Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Based on estimated amounts for the current fiscal year.
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates Based on estimated amounts for the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
Expense Example [Heading] rr_ExpenseExampleHeading Example:
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.  

Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies:
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

The Fund pursues its investment objective by implementing the strategies detailed below.  Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process."  The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus.   The Fund may invest in other investment companies, including ETFs (“Underlying Funds”).  ETFs in which the Fund invests typically seek to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index.


The Faith & Values Based Conservative Fund primarily invests (directly or indirectly through other investment companies) in fixed-income securities and income producing securities such as government bonds, corporate bonds, municipal bonds, and dividend-paying equity securities that are typically investment grade (rated “BBB-” or better by S&P).  However, the Fund may invest in fixed-income securities of any credit quality.  In selecting the Faith & Values Based Conservative Fund’s positions, the adviser will seek to identify securities that exhibit low volatility, consistent performance, and positive total returns.  The average maturity of the fixed-income component of the Faith & Values Based Conservative Fund’s portfolio will reflect the averages of the various securities or underlying investment companies held by the Fund and the Fund will invest without regard to any particular maturity range.    In selecting securities for the Fund, the adviser will also apply an ethical screening, and exclude from the Fund any company that derives more than 20% of its revenues from abortion, pornography, liquor or tobacco, or is otherwise determined to be involved in promoting abortion, pornography, liquor or tobacco .   Ethical screening is provided by a third party research firm which will be utilized to apply the Fund’s ethical screens and provide the adviser a list of securities that do not satisfy the ethical screening criteria and therefore are not eligible for investment .  The Fund may invest up to 10% of the Fund’s net assets in derivative securities of any kind.  The Fund’s investments in derivative securities are expected to consist primarily of options, futures contracts or options on futures contracts.  The Fund uses derivative investments for leverage, to increase the Fund’s potential return on an investment.   The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments.  


In selecting the Faith & Values Based Conservative Fund’s positions, the adviser will use its proprietary investment research "Rational Analysis" processes, as described below, excluding any securities of companies which are not eligible for purchase under the ethical screening criteria described above .  The particular allocation of positions will change from time to time as market forces dictate.  


The adviser’s “Rational Analysis” uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions.  Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model.  The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.


· Technical Analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume.  Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity.  Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.


· Fundamental Analysis is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors.  Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks.  Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.


· Quantitative Studies:  The adviser uses mathematic analytics and modeling of portfolios.  Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions.  The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.

Risk [Heading] rr_RiskHeading Principal Risks:
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.  Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.


· Company Risk:  The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole.  The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.


· Derivatives Risk:  Derivative instruments derive their value from the value of an underlying security, currency, or index.  Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; risks of default by the other party to the derivative instrument; risks that the transactions may result in losses of all or in excess of any gain in the portfolio positions; and risks that the transactions may not be liquid.


·   ETF and Underlying Fund Risk .   Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.  As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.  Each Underlying Fund is subject to specific risks, depending on its investments.


· Ethical Investing Risk.  The Funds social and moral governance criteria limit the available investments compared to funds with no such criteria.  Under certain economic conditions, this could cause the Funds investment performance to be worse or better than similar funds with no such criteria.


· Fixed Income Risk:   Typically, a rise in interest rates causes a decline in the value of the bond owned by the Fund.  Other risk factors include credit risk, maturity risk, market risk, extension risk, illiquid security risks, foreign securities risk, and prepayment risk.  In addition, bond ETFs and mutual funds, may invest in what are sometimes referred to as "junk bonds." Such securities are speculative investments that carry greater risks and are more susceptible to real or perceived adverse economic and competitive industry conditions than higher quality debt securities.


· Futures and Options Risk.  The use of options, futures contracts or options on futures contracts for risk management or hedging purposes may not be successful, resulting in losses to the Fund.  In addition, the cost of hedging may reduce the Funds returns, and the use of futures and options for investment purposes increases the Funds potential for loss.


· Hedging Risk:  Although derivative instruments may be used to offset or hedge against losses on an opposite position, such hedges can also potentially offset any gains on the opposite position. The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss.  The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.


· Leverage Risk :   The use of leverage may exaggerate changes in a Funds share price and the return on its investments.  Accordingly, the value of the Funds investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified.  Any losses suffered by a leveraged Underlying Fund or the Fund as a result of the use of leverage could adversely affect the Fund’s net asset value and an investor could incur a loss in their investment in the Fund.  Borrowing also leads to additional interest expense and other fees that increase the Fund’s expenses.


Limited History of Operations Risk :  The Fund is a new mutual fund and has a limited history of operations.


· Management Risk:  The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments.  There is no guarantee that the adviser's investment strategy will produce the desired results.


· Market Risk:  The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time, and tend to be more volatile than other investment choices.


· Small-Cap and Mid-Cap Securities Risk:  The Fund may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies.  Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies.  Securities of these types of companies have limited market liquidity, and their prices may be more volatile.  You should expect that the value of the Fund’s shares will be more volatile than a fund that invests exclusively in large-capitalization companies.

Risk Lose Money [Text] rr_RiskLoseMoney As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance:
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.  In the future, performance information will be presented in this section of the Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.tpfg.com or by calling 1-888-451-TPFG.

Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-888-451-TPFG
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.tpfg.com
Pacific Financial Faith & Values Based Conservative Fund Institutional Class Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed) rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.58% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.80% [1],[2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.63%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 266
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 817
Pacific Financial Faith & Values Based Conservative Fund Investor Class Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of amount redeemed) rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.58% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.80% [1],[2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.63%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 341
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 1,039
[1] Based on estimated amounts for the current fiscal year.
[2] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
XML 26 R27.htm IDEA: XBRL DOCUMENT v2.4.0.6
Pacific Financial Faith & Values Based Moderate Fund
Pacific Financial Faith & Values Based Moderate Fund
Investment Objective:

The investment objective of the Fund is to seek long-term capital appreciation and current income.

Fees and Expenses of the Fund:

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)
Shareholder Fees Pacific Financial Faith & Values Based Moderate Fund
Pacific Financial Faith & Values Based Moderate Fund Institutional Class Shares
Pacific Financial Faith & Values Based Moderate Fund Investor Class Shares
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) none none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds) none none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions none none
Redemption Fee (as a percentage of amount redeemed) none none
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses Pacific Financial Faith & Values Based Moderate Fund
Pacific Financial Faith & Values Based Moderate Fund Institutional Class Shares
Pacific Financial Faith & Values Based Moderate Fund Investor Class Shares
Management Fees 1.00% 1.00%
Distribution and Service (12b-1) Fees 0.25% 1.00%
Other Expenses [1] 0.58% 0.58%
Acquired Fund Fees and Expenses [1][2] 0.80% 0.80%
Total Annual Fund Operating Expenses 2.63% 2.63%
[1] Based on estimated amounts for the current fiscal year.
[2] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial highlights include only the direct operating expenses incurred by the Fund.
Example:

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.  

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Expense Example Pacific Financial Faith & Values Based Moderate Fund (USD $)
1 Year
3 Years
Pacific Financial Faith & Values Based Moderate Fund Institutional Class Shares
266 817
Pacific Financial Faith & Values Based Moderate Fund Investor Class Shares
341 1,039
Portfolio Turnover:

 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio).  A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance.  

Principal Investment Strategies:

The Fund pursues its investment objective by implementing the strategies detailed below.  Individual securities are purchased and sold based on the adviser's proprietary "Rational Analysis" process, which is described below under the heading "Investment Process."  The term "exchange traded fund" is abbreviated as "ETF" throughout this prospectus.  The Fund may invest in other investment companies, including ETFs (“Underlying Funds”).  ETFs in which the Fund invests typically seek to track the performance of an index by holding in its portfolio either the contents of the index or a representative sample of the securities in the index.   


The Faith Based Moderate Fund seeks to achieve its investment objective by investing in a  balanced portfolio of fixed income and equity securities.  Under normal circumstances, the Fund will invest at least 25% of its assets in equity securities and at least 25% of its assets in fixed income securities.  The Fund will invest the fixed income portion of the portfolio directly or in other Underlying Funds (including ETFs) that invest primarily in fixed income and income producing securities such as government bonds, corporate bonds, municipal bonds, and dividend-paying equity securities.  While the Fund typically seeks to invest in investment grade fixed income securities (rated “BBB-” or better by S&P), there is no minimum credit quality or maturity and the Fund may invest in fixed income securities of any credit quality or maturity.  The Fund will also invest in equity securities directly or through other investment companies (including ETFs) that invest primarily in common stock of U.S. or foreign companies of any capitalization, or geographic location.  The Fund may also invest in REITs.  In selecting securities for the Fund, the adviser will apply an ethical screening, and exclude from the Fund any company that derives more than 20% of its revenues from abortion, pornography, liquor or tobacco, or is otherwise determined to be involved in promoting abortion, pornography, liquor or tobacco.  Ethical screening is provided by a third party research firm which will be utilized to apply the Fund’s ethical screens and provide the adviser a list of securities that do not satisfy the ethical screening criteria and therefore are not eligible for investment.  The Fund may invest in leveraged Underlying Funds and up to 10% of the Fund’s net assets in derivative securities of any kind.  The Fund’s investments in leveraged funds and derivative securities are expected to consist primarily of options, future contracts, or options on futures contracts.  The Fund uses leveraged Underlying Funds and derivative investments for leverage, to increase the potential return on an investment.   The use of leverage generates returns that are more pronounced, both positively and negatively, than what would be generated on invested capital without leverage, thus changing small market movements into larger changes in the value of the investments.  


In selecting the Faith & Values Based Moderate Fund’s positions, the adviser will use its proprietary investment research "Rational Analysis" processes, as described below, but excludes the securities of any companies that are not eligible for investment under the ethical screening criteria described above.  The particular allocation of positions will change from time to time as market forces dictate.


  The adviser’s “Rational Analysis” uses Fundamental Analysis, Technical Analysis, and Quantitative Studies in selecting the positions.  Rather than using one of the above methods exclusively, the adviser integrates the optimal elements of each method into a "Rational" decision-making model.  The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective.


· Technical Analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume.  Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity.  Such analysis enables the adviser to identify relational situations and opportunities that are key considerations in buying and, even more importantly, in selling positions.


· Fundamental Analysis is a method of evaluating a security by attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors.  Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and individually specific factors (like the financial condition and management of companies). The adviser uses information from various sources to evaluate the fundamental position of the market, sectors, mutual funds, and stocks.  Such analysis is essential in making decisions to buy particular positions, as it can reveal weaknesses or flaws in investment positions that might appear positive in technical analyses or quantitative studies.


· Quantitative Studies :  The adviser uses mathematic analytics and modeling of portfolios.  Such studies are useful in removing the emotion from the decision-making process, in furthering understanding of portfolio trends, and in developing decisive information for buying and selling positions.  The mathematical and statistical calculations involved in such studies include analysis of Beta, standard deviation, Sharpe ratios, among others.

Principal Risks:

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.  Although the Fund will seek to meet its investment objective, there is no assurance that it will do so.


· Company Risk :  The value of an individual company can be more volatile than the market as a whole and can perform worse than the market as a whole.  The value of a company can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.


· Derivatives Risk :  Derivative instruments derive their value from the value of an underlying security, currency, or index.  Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; risks of default by the other party to the derivative instrument; risks that the transactions may result in losses of all or in excess of any gain in the portfolio positions; and risks that the transactions may not be liquid.


· Emerging Markets Risk :  In addition to the risks generally associated with investing in foreign securities, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues.


·  ETF and Underlying Fund Risk .   Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund.  As a result, your cost of investing in the Fund will be higher than the cost of investing directly in the Underlying Funds and may be higher than other mutual funds that invest directly in stocks and bonds.  Each Underlying Fund is subject to specific risks, depending on its investments.


· Ethical Investing Risk .  The Funds social and moral governance criteria limit the available investments compared to funds with no such criteria.  Under certain economic conditions, this could cause the Funds investment performance to be worse than similar funds with no such criteria.


· Fixed Income Risk :   Typically, a rise in interest rates causes a decline in the value of the bond owned by the Fund.  Other risk factors include credit risk, maturity risk, market risk, extension risk, illiquid security risks, foreign securities risk, and prepayment risk.  In addition, bond ETFs and mutual funds, may invest in what are sometimes referred to as "junk bonds." Such securities are speculative investments that carry greater risks and are more susceptible to real or perceived adverse economic and competitive industry conditions than higher quality debt securities.


· Foreign Risk :  The Fund's performance may depend on issues other than the performance of a particular company or U.S. market sector.  The values of foreign investments may be affected by changes in exchange control regulations, application of foreign tax laws (including withholding tax) changes in governmental administration or economic or monetary policy (in this country or abroad) or changed circumstances in dealings between nations.  The value of foreign securities is also affected by the value of the local currency relative to the U.S. dollar.


· Futures and Options Risk .  The use of options, futures contracts or options on futures contracts for risk management or hedging purposes may not be successful, resulting in losses to the Fund.  In addition, the cost of hedging may reduce the Funds returns, and the use of futures and options for investment purposes increases the Funds potential for loss.


· Hedging Risk :  Although derivative instruments may be used to offset or hedge against losses on an opposite position, such hedges can also potentially offset any gains on the opposite position. The Fund may also be exposed to the risk it may be required to segregate assets or enter into offsetting positions in connection with investments in derivatives, but such segregation will not limit the Fund's exposure to loss.  The Fund may also incur risk with respect to the segregated assets to the extent that, but for the applicable segregation requirement in connection with its investments in derivatives, the Fund would sell the segregated assets.


· Leverage Risk :   The use of leverage may exaggerate changes in a Funds share price and the return on its investments.  Accordingly, the value of the Funds investments may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified.  Any losses suffered by a leveraged Underlying Fund or the Fund as a result of the use of leverage could adversely affect the Fund’s net asset value and an investor could incur a loss in their investment in the Fund.  Borrowing also leads to additional interest expense and other fees that increase the Fund’s expenses.


Limited History of Operations Risk :  The Fund is a new mutual fund and has a limited history of operations.


· Management Risk :  The ability of the Fund to meet its investment objective is directly related to the adviser's investment model and the adviser's assessment of the attractiveness and potential appreciation of particular investments.  There is no guarantee that the adviser's investment strategy will produce the desired results.


· Market Risk :  The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time, and tend to be more volatile than other investment choices.


· Portfolio Turnover Risk :  Portfolio turnover results in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Higher costs associated with increased portfolio turnover may offset gains in the Fund's performance.


· Real Estate Risk : Real estate related investments are subject to risks related to possible declines in the value of real estate; general and local economic conditions; possible lack of availability of mortgage funds; overbuilding; extended vacancies of properties; increases in competition, property taxes, and operating expenses; changes in zoning laws; costs resulting from the clean-up of, and liability to third parties for damages resulting from, environmental problems; casualty or condemnation losses; uninsured damages from floods, earthquakes, or other natural disasters; limitations on and variations in rents; and changes in interest rates. 


· Small-Cap and Mid-Cap Securities Risk :  The Fund may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies.  Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies.  Securities of these types of companies have limited market liquidity, and their prices may be more volatile.  You should expect that the value of the Fund’s shares will be more volatile than a fund that invests exclusively in large-capitalization companies.

Performance:

Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.  In the future, performance information will be presented in this section of the Prospectus.  Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.tpfg.com or by calling 1-888-451-TPFG.

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