497

Northern Lights Fund Trust III

Swan Defined Risk Fund

Swan Defined Risk Emerging Markets Fund

Swan Defined Risk Foreign Developed Fund

Swan Defined Risk U.S. Small Cap Fund

Incorporated herein by reference is the definitive version of the Prospectus for the Swan Defined Risk Fund, Swan Defined Risk Emerging Markets Fund, Swan Defined Risk Foreign Developed Fund and Swan Defined Risk U.S. Small Cap Fund filed pursuant to Rule 497(c) under the Securities Act of 1933, as amended, on November 13, 2018, (SEC Accession 0001580642-18-005446).

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Swan Defined Risk Fund

<p style="margin: 0px; font-size: 14pt"><b>FUND SUMMARY – SWAN DEFINED RISK FUND</b></p>

<p style="margin: 0px"><b>Investment Objective:</b></p>

The Fund seeks income and growth of capital.

<p style="margin: 0px"><b>Fees and Expenses of the Fund:</b></p>

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and in How to Purchase Shares on page 35 of the Fund’s Prospectus.

<p style="margin: 0px"><b>Shareholder Fees</b></p> <p style="margin: 0px"><b>(fees paid directly from your investment)</b></p>

Shareholder Fees - Swan Defined Risk Fund	Class A Shares	Class C Shares	Class I Shares
Maximum Sales Charge (Load) Imposed on Purchases (as a % of offering price)	5.50%	none	none
Maximum Deferred Sales Charge (Load) (as a % of the original purchase price)	none	none	none
Redemption Fee (as a % of amount redeemed, if sold within 30 days)	none	none	none

<p style="margin: 0px"><b>Annual Fund Operating Expenses</b></p> <p style="margin: 0px"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></p>

Annual Fund Operating Expenses - Swan Defined Risk Fund		Class A Shares	Class C Shares	Class I Shares
Management Fees		1.00%	1.00%	1.00%
Distribution and Service (12b-1) Fees		0.25%	1.00%	none
Other Expenses		0.14%	0.14%	0.14%
Acquired Fund Fees and Expenses	[1]	0.13%	0.13%	0.13%
Total Annual Fund Operating Expenses		1.52%	2.27%	1.27%

<p style="margin: 0px"><b>Example:</b></p>

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

<p style="margin: 0px">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:</p>

Expense Example - Swan Defined Risk Fund - USD ($)	1 Year	3 Years	5 Years	10 Years
Class A Shares	696	1,004	1,333	2,263
Class C Shares	230	709	1,215	2,605
Class I Shares	129	403	697	1,534

<p style="margin: 0px"><b>Portfolio Turnover:</b></p>

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover 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. During the most recent fiscal year, the Fund’s portfolio turnover rate was 9% of the average value of its portfolio.

<p style="margin: 0px"><b>Principal Investment Strategies:</b></p>

Using the sub-adviser’s proprietary “Defined Risk Strategy” (“DRS”) to select the Fund’s investments, the Fund seeks to achieve its investment objective by investing directly, or indirectly through exchange traded funds (“ETFs”), in:

• equity securities that are represented in the S&P 500 Index,

• exchange-traded long-term put options on the S&P 500 Index for hedging purposes, and

• buying and selling exchange-traded put and call options on various equity indices to generate additional returns.

The DRS seeks to provide risk-managed growth of capital by matching or exceeding the long-term performance of the stock market while avoiding the traditional losses incurred during bear markets. The Fund invests primarily in equity securities of large capitalization (over $10 billion) US companies directly or through ETFs. The Fund may also have small investments in equity securities of smaller and foreign companies through sector-based or S&P 500 Index ETFs. The sub-adviser anticipates income from dividend payments made by ETFs and individual securities, as well as income from short term trades and option premiums, although option income is also described as capital appreciation for tax and accounting purposes. The sub-adviser anticipates executing ETF trades through an exchange rather than trading directly with a fund.

The DRS philosophy is based upon the sub-adviser’s research indicating that market timing and/or stock selection is extremely difficult, may produce volatile returns and that asset allocation is limited in its risk reduction. Using DRS, the sub-adviser seeks to “define risk” by seeking to protect against large losses by hedging equity ETFs through investments in protective long-term S&P 500 Index put options. Additionally, the sub-adviser seeks to increase returns by buying and selling call and put options on several indices using hedging strategies.

Defined Risk Strategy

The DRS was created in 1997 by Randy Swan, President of the sub-adviser. The objective of the DRS is to provide risk-managed growth of capital by offering a strategy that seeks to match or exceed the long-term performance of the stock market without the traditional losses incurred during bear markets. The DRS philosophy is based upon the sub-adviser’s research indicating that market timing and/or stock selection is extremely difficult and that asset allocation is limited in its risk reduction properties.

Hedging Process

The sub-adviser applies a protective put hedging strategy to hedge the Fund’s equity exposure. The Fund invests in long-term put options (referred to as paying a premium) that gives the Fund the right to sell a security or index at a set (strike) price or sell the long-term put option on an option exchange. The protective put strategy is executed using exchange-traded S&P 500 Index put options to hedge the portfolio and to reduce volatility. The protective put strategy seeks to limit downside loss. Generally, S&P 500 Index put options have an inverse relationship to the S&P 500 Index and its sector-specific constituents.

Option Writing

To generate additional returns, the sub-adviser buys and sells short-term (generally 1-3 month) (i) put and call options on equity indices, such as the S&P 500, Sector SDPR and Russell 2000, (ii) ETFs and (iii) futures on a regular basis. Additionally, the sub-adviser will regularly engage in various spread option strategies. Spread option strategies involve, for example, selling a 1-month call option while buying a 2-month call option. Each option strategy includes a hedging element so that the Fund is not exposed to significant losses on written options.

Rebalancing

The sub-adviser may rebalance the ETF portfolio to maintain approximately equal weighting across the sectors of the S&P 500 to avoid excessive exposure to one economic sector. Long-term protective put options are typically traded annually to protect capital and/or allow for profit potential, by re-establishing a current-market strike price which depends on whether or not the market has increased or decreased.

As discussed further below the sub-adviser intends on having very little portfolio turnover since most of the ETF portfolio will be held indefinitely. Written options are bought back when the sub-adviser believes they present an unfavorable risk and reward profile. Purchased options are sold when the sub-adviser believes they present an unfavorable risk and reward profile or when more attractive investments are available.

<p style="margin: 0px"><b>Principal Investment Risks:</b></p>

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. The Fund is not intended to be a complete investment program. Many factors affect the Fund’s net asset value (“NAV”) and performance. The following risks may apply to the Fund’s direct investments as well as the Fund’s indirect risks through investing in ETFs.

• ETF Risk: ETFs are subject to investment advisory and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher than the cost of investing directly in ETFs and may be higher than other mutual funds that invest directly in stocks. ETFs are subject to specific risks, depending on the nature of the fund.

• Leveraging Risk: The use of leverage, such as that embedded in options, could magnify the Fund’s gains or losses.

• Management Risk: The sub-adviser’s dependence on its DRS process and judgments about the attractiveness, value and potential appreciation of particular investments or ETFs and options in which the Fund invests or writes may prove to be incorrect and may not produce the desired results.

• Market Risk: Overall securities market risks will affect the value of individual instruments in which the Fund invests. Factors such as economic growth and market conditions, interest rate levels, and political events affect the US securities markets. When the value of the Fund’s investments goes down, your investment in the Fund decreases in value and you could lose money.

• Option Risk: Purchased put options may expire worthless and may have imperfect correlation to the value of the Fund’s sector based investments. Written call and put options may limit the Fund’s participation in equity market gains and may amplify losses in market declines. The Fund’s losses are potentially large in a written put or call transaction. If unhedged, written calls expose the Fund to potentially unlimited losses.

<p style="margin: 0px"><b>Performance:</b></p>

The bar chart and performance table below show the variability of the Fund’s returns over time, which is some indication of the risks of investing in the Fund. The bar chart shows performance of the Fund’s Class I shares for each full calendar year since the Fund’s inception. You should be aware that the Fund’s past performance (before and after taxes) may not be an indication of how the Fund will perform in the future. Although Class A and Class C shares would have similar annual returns to Class I shares because the classes are invested in the same portfolio of securities, the returns for Class A and Class C shares would be different from Class I shares because Class A and Class C shares have different expenses than Class I shares. Updated performance information will be available at no cost by visiting www.swandefinedriskfunds.com or by calling 1-877-896-2590.

<p style="margin: 0px; text-align: center"><b>Class I Performance Bar Chart For Calendar Years Ended December 31</b></p>

Best Quarter:	12/31/13	5.28%
Worst Quarter:	9/30/15	(5.72)%

The year-to-date return as of the most recent calendar quarter, which ended September 30, 2018, was 1.61%.

<p style="margin: 0px; text-align: center"><b>Performance Table </b></p> <p style="margin: 0px; text-align: center"><b>Average Annual Total Returns </b></p> <p style="margin: 0px; text-align: center"><i>(For periods ended December 31, 2017)</i></p>

Average Annual Total Returns - Swan Defined Risk Fund		Label	One Year	Five Years	Since Inception	[1]	Since Inception	[2]	Inception Date
Class I Shares		Return before taxes	10.25%	6.52%	5.99%				Jul. 30, 2012
Class I Shares | Return after taxes on distributions			10.05%	6.30%	5.75%
Class I Shares | Return after taxes on distributions and sale of Fund shares			5.96%	5.07%	4.67%
Class A Shares		Return before taxes	3.90%	5.05%	4.64%				Jul. 30, 2012
Class C Shares		Return before taxes	9.12%	5.48%			4.88%		Oct. 18, 2012
S&P 500 Total Return Index (reflects no deduction for fees, expenses or taxes)	[3]		21.83%	15.79%	15.32%		14.77%
Bloomberg Barclays Capital U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes)	[4]		3.54%	2.10%	2.03%		2.11%
60% S&P 500 Index/40% Barclays Aggregate US Bond Index (reflects no deduction for fees, expenses or taxes)	[5]		14.21%	10.25%	9.94%		9.67%

After-tax returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After tax returns for the share classes which are not presented will vary from the after-tax returns of Class I shares. The table above illustrates how the Fund’s average annual total returns over time compare with two domestic broad-based market indices. A blend of both broad-based indices is also provided as the Swan Capital Management, LLC (the “Adviser”) believes it illustrates a closer representation of the Fund’s portfolio composition.

Swan Defined Risk Emerging Markets Fund

<p style="margin: 0px; font-size: 14pt"><b>FUND SUMMARY – SWAN DEFINED RISK EMERGING MARKETS FUND</b></p>

<p style="margin: 0px"><b>Investment Objective:</b></p>

The Fund seeks income and growth of capital.

<p style="margin: 0px"><b>Fees and Expenses of the Fund:</b></p>

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and in How to Purchase Shares on page 35 of the Fund’s Prospectus.

<p style="margin: 0px"><b>Shareholder Fees</b></p> <p style="margin: 0px"><b>(fees paid directly from your investment)</b></p>

Shareholder Fees - Swan Defined Risk Emerging Markets Fund	Class A Shares	Class C Shares	Class I Shares
Maximum Sales Charge (Load) Imposed on Purchases (as a % of offering price)	5.50%	none	none
Maximum Deferred Sales Charge (Load) (as a % of the original purchase price)	none	none	none
Redemption Fee (as a % of amount redeemed, if sold within 30 days)	none	none	none

<p style="margin: 0px"><b>Annual Fund Operating Expenses</b></p> <p style="margin: 0px"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></p>

Annual Fund Operating Expenses - Swan Defined Risk Emerging Markets Fund		Class A Shares	Class C Shares	Class I Shares
Management Fees		1.00%	1.00%	1.00%
Distribution and Service (12b-1) Fees		0.25%	1.00%	none
Other Expenses		0.42%	0.42%	0.42%
Acquired Fund Fees and Expenses	[1]	0.63%	0.63%	0.63%
Total Annual Fund Operating Expenses		2.30%	3.05%	2.05%
Fee Waiver and Expense Reimbursement	[2]	(0.02%)	(0.02%)	(0.02%)
Total Annual Fund Operating Expenses After Fee Waiver		2.28%	3.03%	2.03%

<p style="margin: 0px"><b>Example:</b></p>

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

<p style="margin: 0px">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:</p>

Expense Example - Swan Defined Risk Emerging Markets Fund - USD ($)	1 Year	3 Years	5 Years	10 Years
Class A Shares	768	1,227	1,711	3,039
Class C Shares	306	940	1,599	3,363
Class I Shares	206	641	1,101	2,378

<p style="margin: 0px"><b>Portfolio Turnover:</b></p>

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover 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. During the most recent fiscal year, the Fund’s portfolio turnover rate was 7% of the average value of its portfolio.

<p style="margin: 0px"><b>Principal Investment Strategies:</b></p>

Using the sub-adviser’s proprietary “Defined Risk Strategy” (“DRS”) to select the Fund’s investments, the Fund seeks to achieve its investment objective by investing directly, or indirectly through exchange-traded funds (“ETFs”), in:

• foreign (including emerging markets) equity securities, including American depository receipts (“ADRs”) , of any market capitalization,

• exchange-traded long-term put options on U.S. exchanges for hedging purposes, and

• buying and selling exchange-traded put and call options on various ETFs and foreign equity indices to generate additional returns.

The DRS seeks to provide risk-managed growth of capital by matching or exceeding the long-term performance of the stock market while avoiding the traditional losses incurred during bear markets. Under normal market conditions, the Fund will invest at least 80% of its assets (defined as net assets plus any borrowing for investment purposes) in securities economically tied to emerging markets. Securities considered to be economically tied to emerging market countries include, without limitation: (1) an issuer organized under the laws of or maintaining a principal office or principal place(s) of business in one or more emerging markets; (2) an issuer of securities that are principally traded in one or more emerging markets; (3) an issuer that derives or is currently expected to derive 50% or more of its total sales, revenues, profits, earnings, growth, or another measure of economic activity from, the production or sale of goods or performance of services or making of investments or other economic activity in, one or more emerging markets, or that maintains or is currently expected to maintain 50% or more of its employees, assets, investments, operations, or other business activity in one or more emerging markets; (4) a governmental or quasi-governmental entity of an emerging market; (5) any other issuer that the sub-adviser believes may expose the fund’s assets to the economic fortunes and risks of emerging markets or (6) options on securities of any of the above described issuers. The sub-adviser may consider an issuer to be economically tied to emerging markets even though it may be based in a developed market such as the United States. Emerging markets are generally those with a less-developed economy and per-capital income significantly lower than the U.S. Representative emerging market countries are China (Asia), Brazil (South America), Russia (Europe and Asia), India (Asia) and/or Taiwan (Asia).

The sub-adviser anticipates income from dividend payments made by ETFs and individual securities, as well as income from short term trades and option premiums, although option income is also described as capital appreciation for tax and accounting purposes. The sub-adviser anticipates executing ETF trades through an exchange rather than trading directly with a fund.

The DRS philosophy is based upon the sub-adviser’s research indicating that market timing and/or stock selection is extremely difficult, may produce volatile returns and that asset allocation is limited in its risk reduction. Using DRS, the sub-adviser seeks to “define risk” by seeking to protect against large losses by hedging the equity securities in the Fund’s portfolio through investments in protective long-term index or ETF put options. Additionally, the sub-adviser seeks to increase returns by buying and selling call and put options on several ETFs or indices using hedging strategies.

Defined Risk Strategy

The DRS was created in 1997 by Randy Swan, President of the sub-adviser. The objective of the DRS is to provide risk-managed growth of capital by offering a strategy that seeks to match or exceed the long-term performance of the stock market without the traditional losses incurred during bear markets. The DRS philosophy is based upon the sub-adviser’s research indicating that market timing and/or stock selection is extremely difficult and that asset allocation is limited in its risk reduction properties.

Hedging Process

The sub-adviser applies a protective put hedging strategy to hedge the Fund’s equity exposure. The Fund invests in long-term put options (referred to as paying a premium) that gives the Fund the right to sell a security or index at a set (strike) price or sell the long-term put option on an option exchange. The protective put strategy is executed using exchange-traded index and ETF put options to hedge the portfolio and to reduce volatility. The protective put strategy seeks to limit downside loss. Generally, index and ETF put options have an inverse relationship to the applicable underlying index or security.

Option Writing

To generate additional returns, the sub-adviser buys and sells short-term (generally 1-3 month) put and call options on (i) ETFs, (ii) foreign equity indices, (iii) foreign equity securities, and (iv) futures on a regular basis. Additionally, the sub-adviser will regularly engage in various spread option strategies. Spread option strategies involve, for example, selling a 1-month call option while buying a 2-month call option.

Rebalancing

The sub-adviser may rebalance the portfolio to avoid excessive exposure to one economic sector or foreign country/region. Long-term protective put options are typically traded annually to protect capital and/or allow for profit potential, by re-establishing a current-market strike price which depends on whether or not the market has increased or decreased.

As discussed further below, the sub-adviser intends on having very little portfolio turnover since most of the equity portfolio will be held indefinitely. Written options are bought back when the sub-adviser believes they present an unfavorable risk and reward profile. Purchased options are sold when the sub-adviser believes they present an unfavorable risk and reward profile or when more attractive investments are available.

<p style="margin: 0px"><b>Principal Investment Risks:</b></p>

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. The Fund is not intended to be a complete investment program. Many factors affect the Fund’s net asset value (“NAV”) and performance. The following risks may apply to the Fund’s direct investments as well as the Fund’s indirect risks through investing in ETFs.

• ADRs Risk: ADRs may be subject to some of the same risks as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risks. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the depositary’s transaction fees. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the depositary’s transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities that are not passed through.

• Currency Risk: If the Fund invests in securities that trade in, and receive revenues in, foreign currencies, it will be subject to the risk that those currencies will decline in value relative to the U.S. dollar, or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency being hedged. As a result, the Fund’s investments in foreign currency-denominated securities may reduce the Fund’s returns.

• Emerging Market Risk: Emerging market countries may have relatively unstable governments, weaker economies, and less-developed legal systems with fewer security holder rights. Emerging market economies may be based on only a few industries and security issuers may be more susceptible to economic weakness and more likely to default. Emerging market securities also tend to be less liquid.

• ETF Risk: ETFs are subject to investment advisory and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher than the cost of investing directly in ETFs and may be higher than other mutual funds that invest directly in stocks. ETFs are subject to specific risks, depending on the nature of the ETF.

• Foreign Investment Risk: Foreign investing involves risks not typically associated with U.S. investments, including adverse fluctuations in foreign currency values, adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing auditing and legal standards.

• Leveraging Risk: The use of leverage, such as that embedded in options, could magnify the Fund’s gains or losses.

• Management Risk: The sub-adviser’s dependence on its DRS process and judgments about the attractiveness, value and potential appreciation of particular securities, ETFs and options in which the Fund invests or writes may prove to be incorrect and may not produce the desired results.

• Market Risk: Overall securities market risks will affect the value of individual instruments in which the Fund invests. Factors such as economic growth and market conditions, interest rate levels, and political events affect the US securities markets. When the value of the Fund’s investments goes down, your investment in the Fund decreases in value and you could lose money.

• Option Risk: Purchased put options may decline in value or expire worthless and may have imperfect correlation to the value of the Fund’s portfolio securities. Written call and put options may limit the Fund’s participation in equity market gains and may amplify losses in market declines. The Fund’s losses are potentially large in a written put or call transaction. If unhedged, written calls expose the Fund to potentially unlimited losses.

• Small and Medium Capitalization Stock Risk: The earnings and prospects of small and medium sized companies are more volatile than larger companies and may experience higher failure rates than larger companies. Small and medium sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and may have limited markets, product lines, or financial resources and lack management experience.

<p style="margin: 0px"><b>Performance:</b></p>

The bar chart and performance table below show the variability of the Fund’s returns over time, which is some indication of the risks of investing in the Fund. The bar chart shows performance of the Fund’s Class I shares for each full calendar year since the Fund’s inception. You should be aware that the Fund’s past performance (before and after taxes) may not be an indication of how the Fund will perform in the future. Although Class A and Class C shares would have similar annual returns to Class I shares because the classes are invested in the same portfolio of securities, the returns for Class A and Class C shares would be different from Class I shares because Class A and Class C shares have different expenses than Class I shares. Updated performance information will be available at no cost by visiting swandefinedriskfunds.com or by calling 1-877-896-2590.

<p style="margin: 0px; text-align: center"><b>Class I Performance Bar Chart For Calendar Years Ended December 31</b></p>

Best Quarter:	3/31/17	6.84%
Worst Quarter:	9/30/15	(10.89)%

The year-to-date return as of the most recent calendar quarter, which ended September 30, 2018, was (7.56)%.

<p style="margin: 0px; text-align: center"><b>Performance Table </b></p> <p style="margin: 0px; text-align: center"><b>Average Annual Total Returns </b></p> <p style="margin: 0px; text-align: center"><i>(For periods ended December 31, 2017)</i></p>

Average Annual Total Returns - Swan Defined Risk Emerging Markets Fund		Label	One Year	Since Inception	Inception Date
Class I Shares		Return before taxes	22.04%	4.55%	Dec. 30, 2014
Class I Shares | Return after taxes on distributions			21.35%	3.99%
Class I Shares | Return after taxes on distributions and sale of Fund shares			12.77%	3.33%
Class A Shares		Return before taxes	14.91%	2.36%	Dec. 30, 2014
Class C Shares		Return before taxes	20.77%	3.54%	Dec. 30, 2014
Bloomberg Barclays Capital U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes)	[1]		3.54%	2.26%
MSCI Emerging Markets Index (reflects no deduction for fees, expenses or taxes)	[2]		37.75%	9.56%
60% MSCI Emerging Markets Index/40% Barclays Aggregate US Bond Index (reflects no deduction for fees, expenses or taxes)	[3]		21.18%	5.16%

After-tax returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After tax returns for the share classes which are not presented will vary from the after-tax returns of Class I shares.

Swan Defined Risk Foreign Developed Fund

<p style="margin: 0px; font-size: 14pt"><b>FUND SUMMARY – SWAN DEFINED RISK FOREIGN DEVELOPED FUND</b></p>

<p style="margin: 0px"><b>Investment Objective:</b></p>

The Fund seeks income and growth of capital.

<p style="margin: 0px"><b>Fees and Expenses of the Fund:</b></p>

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and in How to Purchase Shares on page 35 of the Fund’s Prospectus.

<p style="margin: 0px"><b>Shareholder Fees</b></p> <p style="margin: 0px"><b>(fees paid directly from your investment)</b></p>

Shareholder Fees - Swan Defined Risk Foreign Developed Fund	Class A Shares	Class C Shares	Class I Shares
Maximum Sales Charge (Load) Imposed on Purchases (as a % of offering price)	5.50%	none	none
Maximum Deferred Sales Charge (Load) (as a % of the original purchase price)	none	none	none
Redemption Fee (as a % of amount redeemed, if sold within 30 days)	none	none	none

<p style="margin: 0px"><b>Annual Fund Operating Expenses</b></p> <p style="margin: 0px"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></p>

Annual Fund Operating Expenses - Swan Defined Risk Foreign Developed Fund		Class A Shares	Class C Shares	Class I Shares
Management Fees		1.00%	1.00%	1.00%
Distribution and Service (12b-1) Fees		0.25%	1.00%	none
Other Expenses		0.71%	0.71%	0.71%
Interest Expense		0.21%	0.21%	0.21%
Remaining Other Expenses		0.50%	0.50%	0.50%
Acquired Fund Fees and Expenses	[1]	0.30%	0.30%	0.30%
Total Annual Fund Operating Expenses		2.26%	3.01%	2.01%
Fee Waiver and Expense Reimbursement	[2]	(0.10%)	(0.10%)	(0.10%)
Total Annual Fund Operating Expenses After Fee Waiver		2.16%	2.91%	1.91%

<p style="margin: 0px"><b>Example:</b></p>

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

<p style="margin: 0px">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:</p>

Expense Example - Swan Defined Risk Foreign Developed Fund - USD ($)	1 Year	3 Years	5 Years	10 Years
Class A Shares	757	1,208	1,685	2,995
Class C Shares	294	921	1,573	3,320
Class I Shares	194	621	1,074	2,330

<p style="margin: 0px"><b>Portfolio Turnover:</b></p>

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover 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. During the most recent fiscal year, the Fund’s portfolio turnover rate was 4% of the average value of its portfolio.

<p style="margin: 0px"><b>Principal Investment Strategies:</b></p>

Using the sub-adviser’s proprietary “Defined Risk Strategy” (“DRS”) to select the Fund’s investments, the Fund seeks to achieve its investment objective by primarily investing directly, or indirectly through exchange-traded Funds (“ETFs”), in:

• equity securities of large capitalization (over $10 billion) companies in foreign developed markets, including American depository receipts (“ADRs”) ,

• exchange-traded long-term put options on U.S. exchanges for hedging purposes, and

• buying and selling exchange-traded put and call options on various ETFs and foreign equity indices to generate additional returns.

The DRS seeks to provide risk-managed growth of capital by matching or exceeding the long-term performance of the stock market while avoiding the traditional losses incurred during bear markets. Under normal market conditions, the Fund will invest at least 80% of its assets (defined as net assets plus any borrowing for investment purposes) in securities economically tied to developed countries outside the U.S. Securities considered to be economically tied to developed countries outside the U.S. include, without limitation: (1) an issuer organized under the laws of or maintaining a principal office or principal place(s) of business in one or more foreign developed markets; (2) an issuer of securities that are principally traded in one or more foreign developed markets; (3) an issuer that derives or is currently expected to derive 50% or more of its total sales, revenues, profits, earnings, growth, or another measure of economic activity from, the production or sale of goods or performance of services or making of investments or other economic activity in, one or more foreign developed markets, or that maintains or is currently expected to maintain 50% or more of its employees, assets, investments, operations, or other business activity in one or more foreign developed markets; (4) a governmental or quasi-governmental entity of a foreign developed market; (5) any other issuer that the sub-adviser believes may expose the fund’s assets to the economic fortunes and risks of foreign developed markets or (6) options on securities of any of the above described issuers.

The sub-adviser anticipates income from dividend payments made by ETFs and individual securities, as well as income from short term trades and option premiums (money the buyer of an option pays to the seller of an option), although option income is also described as capital appreciation for tax and accounting purposes. The sub-adviser anticipates executing ETF trades through an exchange rather than trading directly with a fund.

The DRS philosophy is based upon the sub-adviser’s research indicating that market timing and/or stock selection is extremely difficult, may produce volatile returns and that asset allocation is limited in its risk reduction. Using DRS, the sub-adviser seeks to “define risk” by seeking to protect against large losses by hedging the equity securities in the Fund’s portfolio through investments in index or ETF put options. Additionally, the sub-adviser seeks to increase returns by buying and selling call and put options on several ETFs or indices using hedging strategies.

Defined Risk Strategy

The DRS was created in 1997 by Randy Swan, President of the sub-adviser. The objective of the DRS is to provide risk-managed growth of capital by offering a strategy that seeks to match or exceed the long-term performance of the stock market without the traditional losses incurred during bear markets. The DRS philosophy is based upon the sub-adviser’s research indicating that market timing and/or stock selection is extremely difficult and that asset allocation is limited in its risk reduction properties.

Hedging Process

The sub-adviser applies a protective put hedging strategy to hedge the Fund’s equity exposure. The Fund invests in long-term put options (referred to as paying a premium) that gives the Fund the right to sell a security or index at a set (strike) price or sell the long-term put option on an option exchange. The protective put strategy is executed using exchange-traded index and ETF put options to hedge the portfolio and to reduce volatility. The protective put strategy seeks to limit downside loss. Generally, index and ETF put options have an inverse relationship to the applicable underlying index or security.

Option Writing

To generate additional returns, the sub-adviser buys and sells short-term (generally 1-3 month) put and call options on (i) ETFs, (ii) foreign equity indices, (iii) foreign equity securities, and (iv) futures on a regular basis. Additionally, the sub-adviser will regularly engage in various spread option strategies. Spread option strategies involve, for example, selling a 1-month call option while buying a 2-month call option.

Rebalancing

The sub-adviser may rebalance the portfolio to avoid excessive exposure to one economic sector or foreign country/region. Long-term protective put options are typically traded annually to protect capital and/or allow for profit potential, by re-establishing a current-market strike price which depends on whether or not the market has increased or decreased.

As discussed further below the sub-adviser intends on having very little portfolio turnover since most of the ETF portfolio will be held indefinitely. Written options are bought back when the sub-adviser believes they present an unfavorable risk and reward profile. Purchased options are sold when the sub-adviser believes they present an unfavorable risk and reward profile or when more attractive investments are available.

<p style="margin: 0px"><b>Principal Investment Risks:</b></p>

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. The Fund is not intended to be a complete investment program. Many factors affect the Fund’s net asset value (“NAV”) and performance. The following risks may apply to the Fund’s direct investments as well as the Fund’s indirect risks through investing in ETFs.

• ADRs Risk: ADRs may be subject to some of the same risks as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risks. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the depositary’s transaction fees. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the depositary’s transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities that are not passed through.

• Currency Risk: If the Fund invests in securities that trade in, and receive revenues in, foreign currencies, it will be subject to the risk that those currencies will decline in value relative to the U.S. dollar, or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency being hedged. As a result, the Fund’s investments in foreign currency-denominated securities may reduce the Fund’s returns.

• ETF Risk: ETFs are subject to investment advisory and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher than the cost of investing directly in ETFs and may be higher than other mutual funds that invest directly in stocks. ETFs are subject to specific risks, depending on the nature of the ETF.

• Foreign Investment Risk: Foreign investing involves risks not typically associated with U.S. investments, including adverse fluctuations in foreign currency values, adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing auditing and legal standards.

• Leveraging Risk: The use of leverage, such as that embedded in options, could magnify the Fund’s gains or losses. Written option positions expose the Fund to potential losses many times the option premium received.

• Management Risk: The sub-adviser’s dependence on its DRS process and judgments about the attractiveness, value and potential appreciation of particular securities, ETFs and options in which the Fund invests or writes may prove to be incorrect and may not produce the desired results.

• Market Risk: Overall securities market risks will affect the value of individual instruments in which the Fund invests. Factors such as economic growth and market conditions, interest rate levels, and political events affect the US securities markets. When the value of the Fund’s investments goes down, your investment in the Fund decreases in value and you could lose money.

• Option Risk: Purchased put options may expire worthless and may have imperfect correlation to the value of the Fund’s sector ETFs. Written call and put options may limit the Fund’s participation in equity market gains and may amplify losses in market declines. The Fund’s losses are potentially large in a written put or call transaction. If unhedged, written calls expose the Fund to potentially unlimited losses.

<p style="margin: 0px"><b>Performance:</b></p>

The bar chart and performance table below show the variability of the Fund’s returns over time, which is some indication of the risks of investing in the Fund. The bar chart shows performance of the Fund’s Class I shares for each full calendar year since the Fund’s inception. You should be aware that the Fund’s past performance (before and after taxes) may not be an indication of how the Fund will perform in the future. Although Class A and Class C shares would have similar annual returns to Class I shares because the classes are invested in the same portfolio of securities, the returns for Class A and Class C shares would be different from Class I shares because Class A and Class C shares have different expenses than Class I shares. Updated performance information will be available at no cost by visiting swandefinedriskfunds.com or by calling 1-877-896-2590.

<p style="margin: 0px; text-align: center"><b>Class I Performance Bar Chart For Calendar Years Ended December 31</b></p>

Best Quarter:	9/30/17	4.43%
Worst Quarter:	6/30/16	(1.10)%

The year-to-date return as of the most recent calendar quarter, which ended September 30, 2018, was (4.28)%.

<p style="margin: 0px; text-align: center"><b>Performance Table </b></p> <p style="margin: 0px; text-align: center"><b>Average Annual Total Returns </b></p> <p style="margin: 0px; text-align: center"><i>(For periods ended December 31, 2017)</i></p>

Average Annual Total Returns - Swan Defined Risk Foreign Developed Fund		Label	One Year	Since Inception	Inception Date
Class I Shares		Return before taxes	14.82%	7.22%	Dec. 29, 2015
Class I Shares | Return after taxes on distributions			13.79%	6.49%
Class I Shares | Return after taxes on distributions and sale of Fund shares			8.86%	5.39%
Class A Shares		Return before taxes	8.32%	4.01%	Dec. 29, 2015
Class C Shares		Return before taxes	13.70%	6.20%	Dec. 29, 2015
Bloomberg Barclays Capital U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes)	[1]		3.54%	3.21%
MSCI EAFE Gross Index (reflects no deduction for fees, expenses or taxes)	[2]		25.62%	12.39%
60% MSCI EAFE Gross/40% Barclays Aggregate US Bond Index (reflects no deduction for fees, expenses or taxes)	[3]		16.34%	8.77%

After-tax returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After tax returns for the share classes which are not presented will vary from the after-tax returns of Class I shares. The table above illustrates how the Fund’s average annual total returns over time compare with two domestic broad-based market indices. A blend of both broad-based indices is also provided as the Adviser believes it illustrates a closer representation of the Fund’s portfolio composition.

Swan Defined Risk U.S. Small Cap Fund

<p style="margin: 0px; font-size: 14pt"><b>FUND SUMMARY – SWAN DEFINED RISK U.S. SMALL CAP FUND</b></p>

<p style="margin: 0px"><b>Investment Objective:</b></p>

The Fund seeks income and growth of capital.

<p style="margin: 0px"><b>Fees and Expenses of the Fund:</b></p>

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and in How to Purchase Shares on page 35 of the Fund’s Prospectus.

<p style="margin: 0px"><b>Shareholder Fees</b></p> <p style="margin: 0px"><b>(fees paid directly from your investment)</b></p>

Shareholder Fees - Swan Defined Risk U.S. Small Cap Fund	Class A Shares	Class C Shares	Class I Shares
Maximum Sales Charge (Load) Imposed on Purchases (as a % of offering price)	5.50%	none	none
Maximum Deferred Sales Charge (Load) (as a % of the original purchase price)	none	none	none
Redemption Fee (as a % of amount redeemed, if sold within 30 days)	none	none	none

<p style="margin: 0px"><b>Annual Fund Operating Expenses</b></p> <p style="margin: 0px"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></p>

Annual Fund Operating Expenses - Swan Defined Risk U.S. Small Cap Fund		Class A Shares	Class C Shares	Class I Shares
Management Fees		1.00%	1.00%	1.00%
Distribution and Service (12b-1) Fees		0.25%	1.00%	none
Other Expenses		0.68%	0.68%	0.68%
Interest Expense		0.15%	0.15%	0.15%
Remaining Other Expenses		0.53%	0.53%	0.53%
Acquired Fund Fees and Expenses	[1]	0.19%	0.19%	0.19%
Total Annual Fund Operating Expenses		2.12%	2.87%	1.87%
Fee Waiver and Expense Reimbursement	[2]	(0.13%)	(0.13%)	(0.13%)
Total Annual Fund Operating Expenses After Fee Waiver		1.99%	2.74%	1.74%

<p style="margin: 0px"><b>Example:</b></p>

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

<p style="margin: 0px">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:</p>

Expense Example - Swan Defined Risk U.S. Small Cap Fund - USD ($)	1 Year	3 Years	5 Years	10 Years
Class A Shares	741	1,166	1,615	2,857
Class C Shares	277	877	1,502	3,186
Class I Shares	177	575	999	2,180

<p style="margin: 0px"><b>Portfolio Turnover:</b></p>

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover 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. During the most recent fiscal year, the Fund’s portfolio turnover rate was 1% of the average value of its portfolio.

<p style="margin: 0px"><b>Principal Investment Strategies:</b></p>

Using the sub-adviser’s proprietary “Defined Risk Strategy”(“DRS”) to select the Fund’s investments, the Fund seeks to achieve its investment objective by investing directly, or indirectly through exchange-traded funds (“ETFs”), in:

• equity securities of domestic small capitalization companies,

• exchange-traded long-term put options on U.S. exchanges for hedging purposes, and

• buying and selling exchange-traded put and call options on various ETFs, securities and equity indices to generate additional returns.

The DRS seeks to provide risk-managed growth of capital by matching or exceeding the long-term performance of the stock market while avoiding the traditional losses incurred during bear markets. Under normal market conditions, the Fund will invest at least 80% of its assets (defined as net assets plus any borrowing for investment purposes) in securities of domestic small capitalization (under $3 billion) companies through ETFs. However, the Fund may have small investments in equity securities of medium and large capitalization companies as well as foreign companies. The sub-adviser anticipates income from dividend payments made by ETFs, as well as income from short term trades and option premiums, although option income is also described as capital appreciation for tax and accounting purposes. The sub-adviser anticipates executing ETF trades through an exchange rather than trading directly with a fund.

The DRS philosophy is based upon the sub-adviser’s research indicating that market timing and/or stock selection is extremely difficult, may produce volatile returns and that asset allocation is limited in its risk reduction.Using DRS, the sub-adviser seeks to “define risk” by seeking to protect against large losses by hedging the equity securities in the Fund’s portfolio through investments in protective long-term index or ETF put options. Additionally, the sub-adviser seeks to increase returns by buying and selling call and put options on several ETFs or indices using hedging strategies.

Defined Risk Strategy

The DRS was created in 1997 by Randy Swan, President of the sub-adviser. The objective of the DRS is to provide risk-managed growth of capital by offering a strategy that seeks to match or exceed the long-term performance of the stock market without the traditional losses incurred during bear markets. The DRS philosophy is based upon the sub-adviser’s research indicating that market timing and/or stock selection is extremely difficult and that asset allocation is limited in its risk reduction properties.

Hedging Process

The sub-adviser applies a protective put hedging strategy to hedge the Fund’s equity exposure. The Fund invests in long-term put options (referred to as paying a premium) that gives the Fund the right to sell a security or index at a set (strike) price or sell the long-term put option on an option exchange. The protective put strategy is executed using exchange-traded index and ETF put options to hedge the portfolio and to reduce volatility. The protective put strategy seeks to limit downside loss. Generally, index and ETF put options have an inverse relationship to the applicable underlying index or security.

Option Writing

To generate additional returns, the sub-adviser buys and sells short-term (generally 1-3 month) (i) put and call options on equity indices, such as the Russell 2000, (ii) ETFs and (iii) futures on a regular basis. Additionally, the sub-adviser will regularly engage in various spread option strategies. Spread option strategies involve, for example, selling a 1-month call option while buying a 2-month call option. Each option strategy includes a hedging element so that the Fund is not exposed to significant losses on written options.

Rebalancing

The sub-adviser may rebalance the portfolio to avoid excessive exposure to one economic sector. Long-term protective put options are typically traded annually to protect captal and/or allow for profit potential, by re-establishing a current-market strike price which depends on whether or not the market has increased or decreased.

As discussed further below, the sub-adviser intends on having very little portfolio turnover since most of the equity portfolio will be held indefinitely. Written options are bought back when the sub-adviser believes they present an unfavorable risk and reward profile. Purchased options are sold when the sub-adviser believes they present an unfavorable risk and reward profile or when more attractive investments are available.

<p style="margin: 0px"><b>Principal Investment Risks:</b></p>

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. The Fund is not intended to be a complete investment program. Many factors affect the Fund’s net asset value (“NAV”) and performance. The following risks may apply to the Fund’s direct investments as well as the Fund’s indirect risks through investing in ETFs.

• ETF Risk: ETFs are subject to investment advisory and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher than the cost of investing directly in ETFs and may be higher than other mutual funds that invest directly in stocks. ETFs are subject to specific risks, depending on the nature of the ETF.

• Foreign Investment Risk: Foreign investing involves risks not typically associated with U.S. investments, including adverse fluctuations in foreign currency values, adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing auditing and legal standards.

• Leveraging Risk: The use of leverage, such as that embedded in options, could magnify the Fund’s gains or losses. Written option positions expose the Fund to potential losses many times the option premium received.

• Management Risk: The sub-adviser’s dependence on its DRS process and judgments about the attractiveness, value and potential appreciation of particular securities, ETFs and options in which the Fund invests or writes may prove to be incorrect and may not produce the desired results.

• Market Risk: Overall securities market risks will affect the value of individual instruments in which the Fund invests. Factors such as economic growth and market conditions, interest rate levels, and political events affect the US securities markets. When the value of the Fund’s investments goes down, your investment in the Fund decreases in value and you could lose money.

• Option Risk: Purchased put options may decline in value or expire worthless and may have imperfect correlation to the value of the Fund’s portfolio securities. Written call and put options may limit the Fund’s participation in equity market gains and may amplify losses in market declines. The Fund’s losses are potentially large in a written put or call transaction. If unhedged, written calls expose the Fund to potentially unlimited losses.

• Small and Medium Capitalization Stock Risk: The earnings and prospects of small and medium sized companies are more volatile than larger companies and may experience higher failure rates than larger companies. Small and medium sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and may have limited markets, product lines, or financial resources and lack management experience.

<p style="margin: 0px"><b>Performance:</b></p>

The bar chart and performance table below show the variability of the Fund’s returns over time, which is some indication of the risks of investing in the Fund. The bar chart shows performance of the Fund’s Class I shares for each full calendar year since the Fund’s inception. You should be aware that the Fund’s past performance (before and after taxes) may not be an indication of how the Fund will perform in the future. Although Class A and Class C shares would have similar annual returns to Class I shares because the classes are invested in the same portfolio of securities, the returns for Class A and Class C shares would be different from Class I shares because Class A and Class C shares have different expenses than Class I shares. Updated performance information will be available at no cost by visiting swandefinedriskfunds.com or by calling 1-877-896-2590.

<p style="margin: 0px; text-align: center"><b>Class I Performance Bar Chart For Calendar Years Ended December 31</b></p>

Best Quarter:	9/30/16	5.45%
Worst Quarter:	3/31/16	0.10%

The year-to-date return as of the most recent calendar quarter, which ended September 30, 2018, was 5.18%.

<p style="margin: 0px; text-align: center"><b>Performance Table </b></p> <p style="margin: 0px; text-align: center"><b>Average Annual Total Returns </b></p> <p style="margin: 0px; text-align: center"><i>(For periods ended December 31, 2017)</i></p>

Average Annual Total Returns - Swan Defined Risk U.S. Small Cap Fund		Label	One Year	Since Inception	Inception Date
Class I Shares		Return before taxes	8.18%	10.50%	Dec. 29, 2015
Class I Shares | Return after taxes on distributions			8.18%	10.45%
Class I Shares | Return after taxes on distributions and sale of Fund shares			4.63%	8.09%
Class A Shares		Return before taxes	2.02%	7.22%	Dec. 29, 2015
Class C Shares		Return before taxes	7.07%	9.50%	Dec. 29, 2015
Bloomberg Barclays Capital U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes)	[1]		3.54%	3.21%
Russell 2000 Total Return Index (reflects no deduction for fees, expenses or taxes)	[2]		14.65%	16.63%
60% Russell 2000 Total Return/40% Barclays Aggregate US Bond Index (reflects no deduction for fees, expenses or taxes)	[3]		10.17%	11.39%

After-tax returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After tax returns for the share classes which are not presented will vary from the after-tax returns of Class I shares. The table above illustrates how the Fund’s average annual total returns over time compare with two domestic broad-based market indices. A blend of both broad-based indices is also provided as the Adviser believes it illustrates a closer representation of the Fund’s portfolio composition.

[1] 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 statements include only the direct operating expenses incurred by the Fund.

[1] The Fund's Class I shares and Class A shares commenced operations on July 30, 2012.

[2] The Fund's Class C shares commenced operations on October 18, 2012.

[3] The S&P 500 Total Return Index is an unmanaged free-float capitalization-weighted index which measures the performance of 500 large-cap common stocks actively traded in the United States. Index returns assume reinvestment of dividends. Investors may not invest in the Index directly. Unlike the Fund's returns, the Index does not reflect any fees or expenses.

[4] The Bloomberg Barclays Capital U.S. Aggregate Bond Index is an unmanaged index comprised of U.S. investment grade, fixed rate bond market securities, including government, government agency, corporate and mortgage-backed securities between one and ten years. Index returns assume reinvestment of dividends. Investors may not invest in the Index directly. Unlike the Fund's returns, the Index does not reflect any fees or expenses.

[5] The 60% S&P 500 Index/40% Barclays Aggregate US Bond Index is a blend of the two above indices.

[1] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies, including exchange-traded funds ("ETFs").

[2] Swan Capital Management, LLC (the "Adviser") has contractually agreed to waive its fees and reimburse expenses of the Fund, at least until October 31, 2019 so that the Total Annual Operating Expenses After Fee Waiver and Reimbursement (excluding: (i) any front-end or contingent deferred loads; (ii) brokerage fees and commissions, (iii) acquired fund fees and expenses; (iii) borrowing costs (such as interest and dividend expense on securities sold short); (iv) taxes; and (v) extraordinary expenses, such as litigation expenses (which may include indemnification of Fund officers and Trustees, contractual indemnification of Fund service providers (other than the Adviser))) will not exceed 1.65%, 2.40% and 1.40% of average daily net assets attributable to Class A, Class C, and Class I shares, respectively. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within the three years after the fees have been waived or reimbursed, if such recoupment can be achieved within the lesser of the foregoing expense limits or the expense limits in place at the time of recoupment. This agreement may be terminated only by the Board of Trustees on 60 days' written notice to the Adviser.

[1] The Bloomberg Barclays Capital U.S. Aggregate Bond Index is an unmanaged index comprised of U.S. investment grade, fixed rate bond market securities, including government, government agency, corporate and mortgage-backed securities between one and ten years. Index returns assume reinvestment of dividends. Investors may not invest in the Index directly. Unlike the Fund's returns, the Index does not reflect any fees or expenses.

[2] The MSCI Emerging Markets Index captures large and mid cap representation across 23 Emerging Markets countries. With 822 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in each country. Index returns assume reinvestment of dividends. Investors may not invest in the Index directly. Unlike the Fund's returns, the Index does not reflect any fees or expenses.

[3] The 60% MSCI Emerging Markets Index/40% Barclays Aggregate US Bond is a blend of the two above indices.

[1] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies, including exchange-traded funds ("ETFs").

[2] Swan Capital Management LLC, (the "Adviser") has contractually agreed to waive its fees and reimburse expenses of the Fund, at least until October 31, 2019 so that the Total Annual Operating Expenses After Fee Waiver and Reimbursement (excluding: (i) any front-end or contingent deferred loads; (ii) brokerage fees and commissions, (iii) acquired fund fees and expenses; (iii) borrowing costs (such as interest and dividend expense on securities sold short); (iv) taxes; and (v) extraordinary expenses, such as litigation expenses (which may include indemnification of Fund officers and Trustees, contractual indemnification of Fund service providers (other than the Adviser))) will not exceed 1.65%, 2.40% and 1.40% of average daily net assets attributable to Class A, Class C, and Class I shares, respectively. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within the three years after the fees have been waived or reimbursed, if such recoupment can be achieved within the lesser of the foregoing expense limits or the expense limits in place at the time of recoupment. This agreement may be terminated only by the Board of Trustees on 60 days' written notice to the Adviser.

[1] The Bloomberg Barclays Capital U.S. Aggregate Bond Index is an unmanaged index comprised of U.S. investment grade, fixed rate bond market securities, including government, government agency, corporate and mortgage-backed securities between one and ten years. Index returns assume reinvestment of dividends. Investors may not invest in the Index directly. Unlike the Fund's returns, the Index does not reflect any fees or expenses.

[2] The MSCI EAFE Gross Index is a stock market index that is designed to measure the equity market performance of developed markets outside of the U.S. & Canada. Index returns assume reinvestment of dividends. Investors may not invest in the Index directly. Unlike the Fund's returns, the Index does not reflect any fees or expenses.

[3] The 60% MSCI EAFE Gross/40% Barclays Aggregate US Bond Index is a blend of the two above indices.

[1] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies, including exchange-traded funds ("ETFs").

[2] Swan Capital Management, LLC ("the Adviser") has contractually agreed to waive its fees and reimburse expenses of the Fund, at least until October 31, 2019 so that the Total Annual Operating Expenses After Fee Waiver and Reimbursement (excluding: (i) any front-end or contingent deferred loads; (ii) brokerage fees and commissions, (iii) acquired fund fees and expenses; (iii) borrowing costs (such as interest and dividend expense on securities sold short); (iv) taxes; and (v) extraordinary expenses, such as litigation expenses (which may include indemnification of Fund officers and Trustees, contractual indemnification of Fund service providers (other than the Adviser))) will not exceed 1.65%, 2.40% and 1.40% of average daily net assets attributable to Class A, Class C, and Class I shares, respectively. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within the three years after the fees have been waived or reimbursed, if such recoupment can be achieved within the lesser of the foregoing expense limits and the expense limits in place at the time of recoupment. This agreement may be terminated only by the Board of Trustees on 60 days' written notice to the Adviser.

[1] The Bloomberg Barclays Capital U.S. Aggregate Bond Index is an unmanaged index comprised of U.S. investment grade, fixed rate bond market securities, including government, government agency, corporate and mortgage-backed securities between one and ten years. Index returns assume reinvestment of dividends. Investors may not invest in the Index directly. Unlike the Fund's returns, the Index does not reflect any fees or expenses.

[2] The Russell 2000 Total Return Index is an unmanaged market capitalization-weighted index which measures the performance of the small-cap sector of the U.S. stock market. Index returns assume reinvestment of dividends. Investors may not invest in the Index directly. Unlike the Fund's returns, the Index does not reflect any fees or expenses.

[3] The 60% Russell 2000 Total Return/40% Barclays Aggregate US Bond Index is a blend of the two above indices.

XML

Label

Element

Value

Prospectus [Line Items]

rr_ProspectusLineItems

Document Type

dei_DocumentType

497

Document Period End Date

dei_DocumentPeriodEndDate

Jun. 30, 2018

Registrant Name

dei_EntityRegistrantName

NORTHERN LIGHTS FUND TRUST III

Central Index Key

dei_EntityCentralIndexKey

0001537140

Amendment Flag

dei_AmendmentFlag

false

Trading Symbol

dei_TradingSymbol

nlft

Document Creation Date

dei_DocumentCreationDate

Nov. 13, 2018

Document Effective Date

dei_DocumentEffectiveDate

Nov. 13, 2018

Prospectus Date

rr_ProspectusDate

Nov. 01, 2018

Swan Defined Risk Fund

Prospectus [Line Items]

rr_ProspectusLineItems

Risk/Return [Heading]

rr_RiskReturnHeading

<p style="margin: 0px; font-size: 14pt"><b>FUND SUMMARY – SWAN DEFINED RISK FUND</b></p>

Objective [Heading]

rr_ObjectiveHeading

<p style="margin: 0px"><b>Investment Objective:</b></p>

Objective, Primary [Text Block]

rr_ObjectivePrimaryTextBlock

The Fund seeks income and growth of capital.

Expense [Heading]

rr_ExpenseHeading

<p style="margin: 0px"><b>Fees and Expenses of the Fund:</b></p>

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. You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and in How to Purchase Shares on page 35 of the Fund’s Prospectus.

Shareholder Fees Caption [Text]

rr_ShareholderFeesCaption

<p style="margin: 0px"><b>Shareholder Fees</b></p> <p style="margin: 0px"><b>(fees paid directly from your investment)</b></p>

Operating Expenses Caption [Text]

rr_OperatingExpensesCaption

<p style="margin: 0px"><b>Annual Fund Operating Expenses</b></p> <p style="margin: 0px"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></p>

Portfolio Turnover [Heading]

rr_PortfolioTurnoverHeading

<p style="margin: 0px"><b>Portfolio Turnover:</b></p>

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 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. During the most recent fiscal year, the Fund’s portfolio turnover rate was 9% of the average value of its portfolio.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

9.00%

Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text]

rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees

The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund.

Expense Example [Heading]

rr_ExpenseExampleHeading

<p style="margin: 0px"><b>Example:</b></p>

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

<p style="margin: 0px">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:</p>

Strategy [Heading]

rr_StrategyHeading

<p style="margin: 0px"><b>Principal Investment Strategies:</b></p>

Strategy Narrative [Text Block]

rr_StrategyNarrativeTextBlock

Using the sub-adviser’s proprietary “Defined Risk Strategy” (“DRS”) to select the Fund’s investments, the Fund seeks to achieve its investment objective by investing directly, or indirectly through exchange traded funds (“ETFs”), in:

• equity securities that are represented in the S&P 500 Index,

• exchange-traded long-term put options on the S&P 500 Index for hedging purposes, and

• buying and selling exchange-traded put and call options on various equity indices to generate additional returns.

The DRS seeks to provide risk-managed growth of capital by matching or exceeding the long-term performance of the stock market while avoiding the traditional losses incurred during bear markets. The Fund invests primarily in equity securities of large capitalization (over $10 billion) US companies directly or through ETFs. The Fund may also have small investments in equity securities of smaller and foreign companies through sector-based or S&P 500 Index ETFs. The sub-adviser anticipates income from dividend payments made by ETFs and individual securities, as well as income from short term trades and option premiums, although option income is also described as capital appreciation for tax and accounting purposes. The sub-adviser anticipates executing ETF trades through an exchange rather than trading directly with a fund.

The DRS philosophy is based upon the sub-adviser’s research indicating that market timing and/or stock selection is extremely difficult, may produce volatile returns and that asset allocation is limited in its risk reduction. Using DRS, the sub-adviser seeks to “define risk” by seeking to protect against large losses by hedging equity ETFs through investments in protective long-term S&P 500 Index put options. Additionally, the sub-adviser seeks to increase returns by buying and selling call and put options on several indices using hedging strategies.

Defined Risk Strategy

The DRS was created in 1997 by Randy Swan, President of the sub-adviser. The objective of the DRS is to provide risk-managed growth of capital by offering a strategy that seeks to match or exceed the long-term performance of the stock market without the traditional losses incurred during bear markets. The DRS philosophy is based upon the sub-adviser’s research indicating that market timing and/or stock selection is extremely difficult and that asset allocation is limited in its risk reduction properties.

Hedging Process

The sub-adviser applies a protective put hedging strategy to hedge the Fund’s equity exposure. The Fund invests in long-term put options (referred to as paying a premium) that gives the Fund the right to sell a security or index at a set (strike) price or sell the long-term put option on an option exchange. The protective put strategy is executed using exchange-traded S&P 500 Index put options to hedge the portfolio and to reduce volatility. The protective put strategy seeks to limit downside loss. Generally, S&P 500 Index put options have an inverse relationship to the S&P 500 Index and its sector-specific constituents.

Option Writing

To generate additional returns, the sub-adviser buys and sells short-term (generally 1-3 month) (i) put and call options on equity indices, such as the S&P 500, Sector SDPR and Russell 2000, (ii) ETFs and (iii) futures on a regular basis. Additionally, the sub-adviser will regularly engage in various spread option strategies. Spread option strategies involve, for example, selling a 1-month call option while buying a 2-month call option. Each option strategy includes a hedging element so that the Fund is not exposed to significant losses on written options.

Rebalancing

The sub-adviser may rebalance the ETF portfolio to maintain approximately equal weighting across the sectors of the S&P 500 to avoid excessive exposure to one economic sector. Long-term protective put options are typically traded annually to protect capital and/or allow for profit potential, by re-establishing a current-market strike price which depends on whether or not the market has increased or decreased.

As discussed further below the sub-adviser intends on having very little portfolio turnover since most of the ETF portfolio will be held indefinitely. Written options are bought back when the sub-adviser believes they present an unfavorable risk and reward profile. Purchased options are sold when the sub-adviser believes they present an unfavorable risk and reward profile or when more attractive investments are available.

Risk [Heading]

rr_RiskHeading

<p style="margin: 0px"><b>Principal Investment Risks:</b></p>

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. The Fund is not intended to be a complete investment program. Many factors affect the Fund’s net asset value (“NAV”) and performance. The following risks may apply to the Fund’s direct investments as well as the Fund’s indirect risks through investing in ETFs.

• ETF Risk: ETFs are subject to investment advisory and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher than the cost of investing directly in ETFs and may be higher than other mutual funds that invest directly in stocks. ETFs are subject to specific risks, depending on the nature of the fund.

• Leveraging Risk: The use of leverage, such as that embedded in options, could magnify the Fund’s gains or losses.

• Management Risk: The sub-adviser’s dependence on its DRS process and judgments about the attractiveness, value and potential appreciation of particular investments or ETFs and options in which the Fund invests or writes may prove to be incorrect and may not produce the desired results.

• Market Risk: Overall securities market risks will affect the value of individual instruments in which the Fund invests. Factors such as economic growth and market conditions, interest rate levels, and political events affect the US securities markets. When the value of the Fund’s investments goes down, your investment in the Fund decreases in value and you could lose money.

• Option Risk: Purchased put options may expire worthless and may have imperfect correlation to the value of the Fund’s sector based investments. Written call and put options may limit the Fund’s participation in equity market gains and may amplify losses in market declines. The Fund’s losses are potentially large in a written put or call transaction. If unhedged, written calls expose the Fund to potentially unlimited losses.

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

<p style="margin: 0px"><b>Performance:</b></p>

Performance Narrative [Text Block]

rr_PerformanceNarrativeTextBlock

The bar chart and performance table below show the variability of the Fund’s returns over time, which is some indication of the risks of investing in the Fund. The bar chart shows performance of the Fund’s Class I shares for each full calendar year since the Fund’s inception. You should be aware that the Fund’s past performance (before and after taxes) may not be an indication of how the Fund will perform in the future. Although Class A and Class C shares would have similar annual returns to Class I shares because the classes are invested in the same portfolio of securities, the returns for Class A and Class C shares would be different from Class I shares because Class A and Class C shares have different expenses than Class I shares. Updated performance information will be available at no cost by visiting www.swandefinedriskfunds.com or by calling 1-877-896-2590.

Performance Information Illustrates Variability of Returns [Text]

rr_PerformanceInformationIllustratesVariabilityOfReturns

The bar chart and performance table below show the variability of the Fund’s returns over time, which is some indication of the risks of investing in the Fund. The bar chart shows performance of the Fund’s Class I shares for each full calendar year since the Fund’s inception.

Performance Availability Phone [Text]

rr_PerformanceAvailabilityPhone

1-877-896-2590

Performance Availability Website Address [Text]

rr_PerformanceAvailabilityWebSiteAddress

www.swandefinedriskfunds.com

Performance Past Does Not Indicate Future [Text]

rr_PerformancePastDoesNotIndicateFuture

You should be aware that the Fund’s past performance (before and after taxes) may not be an indication of how the Fund will perform in the future.

Bar Chart [Heading]

rr_BarChartHeading

<p style="margin: 0px; text-align: center"><b>Class I Performance Bar Chart For Calendar Years Ended December 31</b></p>

Bar Chart Closing [Text Block]

rr_BarChartClosingTextBlock

Best Quarter:	12/31/13	5.28%
Worst Quarter:	9/30/15	(5.72)%

The year-to-date return as of the most recent calendar quarter, which ended September 30, 2018, was 1.61%.

Year to Date Return, Label

rr_YearToDateReturnLabel

The year-to-date return as of the most recent calendar quarter

Bar Chart, Year to Date Return, Date

rr_BarChartYearToDateReturnDate

Sep. 30, 2018

Bar Chart, Year to Date Return

rr_BarChartYearToDateReturn

1.61%

Highest Quarterly Return, Label

rr_HighestQuarterlyReturnLabel

Best Quarter:

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Dec. 31, 2013

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

5.28%

Lowest Quarterly Return, Label

rr_LowestQuarterlyReturnLabel

Worst Quarter:

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Sep. 30, 2015

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

(5.72%)

Performance Table Heading

rr_PerformanceTableHeading

<p style="margin: 0px; text-align: center"><b>Performance Table </b></p> <p style="margin: 0px; text-align: center"><b>Average Annual Total Returns </b></p> <p style="margin: 0px; text-align: center"><i>(For periods ended December 31, 2017)</i></p>

Index No Deduction for Fees, Expenses, Taxes [Text]

rr_IndexNoDeductionForFeesExpensesTaxes

Reflects no deduction for fees, expenses or taxes

Performance Table Uses Highest Federal Rate

rr_PerformanceTableUsesHighestFederalRate

After-tax returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.

Performance Table Not Relevant to Tax Deferred

rr_PerformanceTableNotRelevantToTaxDeferred

Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.

Performance Table One Class of after Tax Shown [Text]

rr_PerformanceTableOneClassOfAfterTaxShown

After tax returns for the share classes which are not presented will vary from the after-tax returns of Class I shares.

Performance Table Closing [Text Block]

rr_PerformanceTableClosingTextBlock

After-tax returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After tax returns for the share classes which are not presented will vary from the after-tax returns of Class I shares. The table above illustrates how the Fund’s average annual total returns over time compare with two domestic broad-based market indices. A blend of both broad-based indices is also provided as the Swan Capital Management, LLC (the “Adviser”) believes it illustrates a closer representation of the Fund’s portfolio composition.

Swan Defined Risk Fund | S&P 500 Total Return Index (reflects no deduction for fees, expenses or taxes)

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

21.83%

^[1]

5 Years

rr_AverageAnnualReturnYear05

15.79%

^[1]

Since Inception

rr_AverageAnnualReturnSinceInception

15.32%

^[1],[2]

Swan Defined Risk Fund | Bloomberg Barclays Capital U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes)

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

3.54%

^[3]

5 Years

rr_AverageAnnualReturnYear05

2.10%

^[3]

Since Inception

rr_AverageAnnualReturnSinceInception

2.03%

^[2],[3]

Swan Defined Risk Fund | 60% S&P 500 Index/40% Barclays Aggregate US Bond Index (reflects no deduction for fees, expenses or taxes)

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

14.21%

^[4]

5 Years

rr_AverageAnnualReturnYear05

10.25%

^[4]

Since Inception

rr_AverageAnnualReturnSinceInception

9.94%

^[2],[4]

Swan Defined Risk Fund | Class A Shares

Prospectus [Line Items]

rr_ProspectusLineItems

Trading Symbol

dei_TradingSymbol

SDRAX

Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

5.50%

Maximum Deferred Sales Charge (as a percentage of Offering Price)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Redemption Fee (as a percentage of Amount Redeemed)

rr_RedemptionFeeOverRedemption

none

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

1.00%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

0.25%

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

0.14%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.13%

^[5]

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

1.52%

Expense Breakpoint Discounts [Text]

rr_ExpenseBreakpointDiscounts

You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund.

Expense Breakpoint, Minimum Investment Required [Amount]

rr_ExpenseBreakpointMinimumInvestmentRequiredAmount

$ 50,000

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

696

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

1,004

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,333

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 2,263

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 Year

rr_AverageAnnualReturnYear01

3.90%

5 Years

rr_AverageAnnualReturnYear05

5.05%

Since Inception

rr_AverageAnnualReturnSinceInception

4.64%

^[2]

Inception Date

rr_AverageAnnualReturnInceptionDate

Jul. 30, 2012

Swan Defined Risk Fund | Class C Shares

Prospectus [Line Items]

rr_ProspectusLineItems

Trading Symbol

dei_TradingSymbol

SDRCX

Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

none

Maximum Deferred Sales Charge (as a percentage of Offering Price)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Redemption Fee (as a percentage of Amount Redeemed)

rr_RedemptionFeeOverRedemption

none

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

1.00%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

1.00%

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

0.14%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.13%

^[5]

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

2.27%

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

$ 230

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

709

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,215

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 2,605

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 Year

rr_AverageAnnualReturnYear01

9.12%

5 Years

rr_AverageAnnualReturnYear05

5.48%

Inception Date

rr_AverageAnnualReturnInceptionDate

Oct. 18, 2012

Swan Defined Risk Fund | Class I Shares

Prospectus [Line Items]

rr_ProspectusLineItems

Trading Symbol

dei_TradingSymbol

SDRIX

Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

none

Maximum Deferred Sales Charge (as a percentage of Offering Price)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Redemption Fee (as a percentage of Amount Redeemed)

rr_RedemptionFeeOverRedemption

none

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

1.00%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

none

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

0.14%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.13%

^[5]

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

1.27%

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

$ 129

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

403

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

697

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 1,534

Annual Return 2013

rr_AnnualReturn2013

14.33%

Annual Return 2014

rr_AnnualReturn2014

6.18%

Annual Return 2015

rr_AnnualReturn2015

(4.30%)

Annual Return 2016

rr_AnnualReturn2016

7.08%

Annual Return 2017

rr_AnnualReturn2017

10.25%

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 Year

rr_AverageAnnualReturnYear01

10.25%

5 Years

rr_AverageAnnualReturnYear05

6.52%

Since Inception

rr_AverageAnnualReturnSinceInception

5.99%

^[2]

Inception Date

rr_AverageAnnualReturnInceptionDate

Jul. 30, 2012

Swan Defined Risk Fund | Class I Shares | Return after taxes on distributions

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

10.05%

5 Years

rr_AverageAnnualReturnYear05

6.30%

Since Inception

rr_AverageAnnualReturnSinceInception

5.75%

^[2]

Swan Defined Risk Fund | Class I Shares | Return after taxes on distributions and sale of Fund shares

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

5.96%

5 Years

rr_AverageAnnualReturnYear05

5.07%

Since Inception

rr_AverageAnnualReturnSinceInception

4.67%

^[2]

Swan Defined Risk Emerging Markets Fund

Prospectus [Line Items]

rr_ProspectusLineItems

Risk/Return [Heading]

rr_RiskReturnHeading

<p style="margin: 0px; font-size: 14pt"><b>FUND SUMMARY – SWAN DEFINED RISK EMERGING MARKETS FUND</b></p>

Objective [Heading]

rr_ObjectiveHeading

<p style="margin: 0px"><b>Investment Objective:</b></p>

Objective, Primary [Text Block]

rr_ObjectivePrimaryTextBlock

The Fund seeks income and growth of capital.

Expense [Heading]

rr_ExpenseHeading

<p style="margin: 0px"><b>Fees and Expenses of the Fund:</b></p>

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. You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and in How to Purchase Shares on page 35 of the Fund’s Prospectus.

Shareholder Fees Caption [Text]

rr_ShareholderFeesCaption

<p style="margin: 0px"><b>Shareholder Fees</b></p> <p style="margin: 0px"><b>(fees paid directly from your investment)</b></p>

Operating Expenses Caption [Text]

rr_OperatingExpensesCaption

<p style="margin: 0px"><b>Annual Fund Operating Expenses</b></p> <p style="margin: 0px"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></p>

Fee Waiver or Reimbursement over Assets, Date of Termination

rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

Oct. 31, 2019

Portfolio Turnover [Heading]

rr_PortfolioTurnoverHeading

<p style="margin: 0px"><b>Portfolio Turnover:</b></p>

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 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. During the most recent fiscal year, the Fund’s portfolio turnover rate was 7% of the average value of its portfolio.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

7.00%

Expense Example [Heading]

rr_ExpenseExampleHeading

<p style="margin: 0px"><b>Example:</b></p>

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

<p style="margin: 0px">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:</p>

Strategy [Heading]

rr_StrategyHeading

<p style="margin: 0px"><b>Principal Investment Strategies:</b></p>

Strategy Narrative [Text Block]

rr_StrategyNarrativeTextBlock

Using the sub-adviser’s proprietary “Defined Risk Strategy” (“DRS”) to select the Fund’s investments, the Fund seeks to achieve its investment objective by investing directly, or indirectly through exchange-traded funds (“ETFs”), in:

• foreign (including emerging markets) equity securities, including American depository receipts (“ADRs”) , of any market capitalization,

• exchange-traded long-term put options on U.S. exchanges for hedging purposes, and

• buying and selling exchange-traded put and call options on various ETFs and foreign equity indices to generate additional returns.

The DRS seeks to provide risk-managed growth of capital by matching or exceeding the long-term performance of the stock market while avoiding the traditional losses incurred during bear markets. Under normal market conditions, the Fund will invest at least 80% of its assets (defined as net assets plus any borrowing for investment purposes) in securities economically tied to emerging markets. Securities considered to be economically tied to emerging market countries include, without limitation: (1) an issuer organized under the laws of or maintaining a principal office or principal place(s) of business in one or more emerging markets; (2) an issuer of securities that are principally traded in one or more emerging markets; (3) an issuer that derives or is currently expected to derive 50% or more of its total sales, revenues, profits, earnings, growth, or another measure of economic activity from, the production or sale of goods or performance of services or making of investments or other economic activity in, one or more emerging markets, or that maintains or is currently expected to maintain 50% or more of its employees, assets, investments, operations, or other business activity in one or more emerging markets; (4) a governmental or quasi-governmental entity of an emerging market; (5) any other issuer that the sub-adviser believes may expose the fund’s assets to the economic fortunes and risks of emerging markets or (6) options on securities of any of the above described issuers. The sub-adviser may consider an issuer to be economically tied to emerging markets even though it may be based in a developed market such as the United States. Emerging markets are generally those with a less-developed economy and per-capital income significantly lower than the U.S. Representative emerging market countries are China (Asia), Brazil (South America), Russia (Europe and Asia), India (Asia) and/or Taiwan (Asia).

The sub-adviser anticipates income from dividend payments made by ETFs and individual securities, as well as income from short term trades and option premiums, although option income is also described as capital appreciation for tax and accounting purposes. The sub-adviser anticipates executing ETF trades through an exchange rather than trading directly with a fund.

The DRS philosophy is based upon the sub-adviser’s research indicating that market timing and/or stock selection is extremely difficult, may produce volatile returns and that asset allocation is limited in its risk reduction. Using DRS, the sub-adviser seeks to “define risk” by seeking to protect against large losses by hedging the equity securities in the Fund’s portfolio through investments in protective long-term index or ETF put options. Additionally, the sub-adviser seeks to increase returns by buying and selling call and put options on several ETFs or indices using hedging strategies.

Defined Risk Strategy

The DRS was created in 1997 by Randy Swan, President of the sub-adviser. The objective of the DRS is to provide risk-managed growth of capital by offering a strategy that seeks to match or exceed the long-term performance of the stock market without the traditional losses incurred during bear markets. The DRS philosophy is based upon the sub-adviser’s research indicating that market timing and/or stock selection is extremely difficult and that asset allocation is limited in its risk reduction properties.

Hedging Process

The sub-adviser applies a protective put hedging strategy to hedge the Fund’s equity exposure. The Fund invests in long-term put options (referred to as paying a premium) that gives the Fund the right to sell a security or index at a set (strike) price or sell the long-term put option on an option exchange. The protective put strategy is executed using exchange-traded index and ETF put options to hedge the portfolio and to reduce volatility. The protective put strategy seeks to limit downside loss. Generally, index and ETF put options have an inverse relationship to the applicable underlying index or security.

Option Writing

To generate additional returns, the sub-adviser buys and sells short-term (generally 1-3 month) put and call options on (i) ETFs, (ii) foreign equity indices, (iii) foreign equity securities, and (iv) futures on a regular basis. Additionally, the sub-adviser will regularly engage in various spread option strategies. Spread option strategies involve, for example, selling a 1-month call option while buying a 2-month call option.

Rebalancing

The sub-adviser may rebalance the portfolio to avoid excessive exposure to one economic sector or foreign country/region. Long-term protective put options are typically traded annually to protect capital and/or allow for profit potential, by re-establishing a current-market strike price which depends on whether or not the market has increased or decreased.

As discussed further below, the sub-adviser intends on having very little portfolio turnover since most of the equity portfolio will be held indefinitely. Written options are bought back when the sub-adviser believes they present an unfavorable risk and reward profile. Purchased options are sold when the sub-adviser believes they present an unfavorable risk and reward profile or when more attractive investments are available.

Strategy Portfolio Concentration [Text]

rr_StrategyPortfolioConcentration

Under normal market conditions, the Fund will invest at least 80% of its assets (defined as net assets plus any borrowing for investment purposes) in securities economically tied to emerging markets.

Risk [Heading]

rr_RiskHeading

<p style="margin: 0px"><b>Principal Investment Risks:</b></p>

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. The Fund is not intended to be a complete investment program. Many factors affect the Fund’s net asset value (“NAV”) and performance. The following risks may apply to the Fund’s direct investments as well as the Fund’s indirect risks through investing in ETFs.

• ADRs Risk: ADRs may be subject to some of the same risks as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risks. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the depositary’s transaction fees. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the depositary’s transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities that are not passed through.

• Currency Risk: If the Fund invests in securities that trade in, and receive revenues in, foreign currencies, it will be subject to the risk that those currencies will decline in value relative to the U.S. dollar, or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency being hedged. As a result, the Fund’s investments in foreign currency-denominated securities may reduce the Fund’s returns.

• Emerging Market Risk: Emerging market countries may have relatively unstable governments, weaker economies, and less-developed legal systems with fewer security holder rights. Emerging market economies may be based on only a few industries and security issuers may be more susceptible to economic weakness and more likely to default. Emerging market securities also tend to be less liquid.

• ETF Risk: ETFs are subject to investment advisory and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher than the cost of investing directly in ETFs and may be higher than other mutual funds that invest directly in stocks. ETFs are subject to specific risks, depending on the nature of the ETF.

• Foreign Investment Risk: Foreign investing involves risks not typically associated with U.S. investments, including adverse fluctuations in foreign currency values, adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing auditing and legal standards.

• Leveraging Risk: The use of leverage, such as that embedded in options, could magnify the Fund’s gains or losses.

• Management Risk: The sub-adviser’s dependence on its DRS process and judgments about the attractiveness, value and potential appreciation of particular securities, ETFs and options in which the Fund invests or writes may prove to be incorrect and may not produce the desired results.

• Market Risk: Overall securities market risks will affect the value of individual instruments in which the Fund invests. Factors such as economic growth and market conditions, interest rate levels, and political events affect the US securities markets. When the value of the Fund’s investments goes down, your investment in the Fund decreases in value and you could lose money.

• Option Risk: Purchased put options may decline in value or expire worthless and may have imperfect correlation to the value of the Fund’s portfolio securities. Written call and put options may limit the Fund’s participation in equity market gains and may amplify losses in market declines. The Fund’s losses are potentially large in a written put or call transaction. If unhedged, written calls expose the Fund to potentially unlimited losses.

• Small and Medium Capitalization Stock Risk: The earnings and prospects of small and medium sized companies are more volatile than larger companies and may experience higher failure rates than larger companies. Small and medium sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and may have limited markets, product lines, or financial resources and lack management experience.

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

<p style="margin: 0px"><b>Performance:</b></p>

Performance Narrative [Text Block]

rr_PerformanceNarrativeTextBlock

The bar chart and performance table below show the variability of the Fund’s returns over time, which is some indication of the risks of investing in the Fund. The bar chart shows performance of the Fund’s Class I shares for each full calendar year since the Fund’s inception. You should be aware that the Fund’s past performance (before and after taxes) may not be an indication of how the Fund will perform in the future. Although Class A and Class C shares would have similar annual returns to Class I shares because the classes are invested in the same portfolio of securities, the returns for Class A and Class C shares would be different from Class I shares because Class A and Class C shares have different expenses than Class I shares. Updated performance information will be available at no cost by visiting swandefinedriskfunds.com or by calling 1-877-896-2590.

Performance Information Illustrates Variability of Returns [Text]

rr_PerformanceInformationIllustratesVariabilityOfReturns

The bar chart and performance table below show the variability of the Fund's returns over time, which is some indication of the risks of investing in the Fund.

Performance Availability Phone [Text]

rr_PerformanceAvailabilityPhone

1-877-896-2590

Performance Availability Website Address [Text]

rr_PerformanceAvailabilityWebSiteAddress

www.swandefinedriskfunds.com

Performance Past Does Not Indicate Future [Text]

rr_PerformancePastDoesNotIndicateFuture

You should be aware that the Fund's past performance (before and after taxes) may not be an indication of how the Fund will perform in the future.

Bar Chart [Heading]

rr_BarChartHeading

<p style="margin: 0px; text-align: center"><b>Class I Performance Bar Chart For Calendar Years Ended December 31</b></p>

Bar Chart Closing [Text Block]

rr_BarChartClosingTextBlock

Best Quarter:	3/31/17	6.84%
Worst Quarter:	9/30/15	(10.89)%

The year-to-date return as of the most recent calendar quarter, which ended September 30, 2018, was (7.56)%.

Year to Date Return, Label

rr_YearToDateReturnLabel

The year-to-date return as of the most recent calendar quarter

Bar Chart, Year to Date Return, Date

rr_BarChartYearToDateReturnDate

Sep. 30, 2018

Bar Chart, Year to Date Return

rr_BarChartYearToDateReturn

(7.56%)

Highest Quarterly Return, Label

rr_HighestQuarterlyReturnLabel

Best Quarter:

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Mar. 31, 2017

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

6.84%

Lowest Quarterly Return, Label

rr_LowestQuarterlyReturnLabel

Worst Quarter:

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Sep. 30, 2015

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

(10.89%)

Performance Table Heading

rr_PerformanceTableHeading

<p style="margin: 0px; text-align: center"><b>Performance Table </b></p> <p style="margin: 0px; text-align: center"><b>Average Annual Total Returns </b></p> <p style="margin: 0px; text-align: center"><i>(For periods ended December 31, 2017)</i></p>

Index No Deduction for Fees, Expenses, Taxes [Text]

rr_IndexNoDeductionForFeesExpensesTaxes

Reflects no deduction for fees, expenses or taxes

Performance Table Uses Highest Federal Rate

rr_PerformanceTableUsesHighestFederalRate

After-tax returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.

Performance Table Not Relevant to Tax Deferred

rr_PerformanceTableNotRelevantToTaxDeferred

Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.

Performance Table One Class of after Tax Shown [Text]

rr_PerformanceTableOneClassOfAfterTaxShown

After tax returns for the share classes which are not presented will vary from the after-tax returns of Class I shares.

Performance Table Closing [Text Block]

rr_PerformanceTableClosingTextBlock

After-tax returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After tax returns for the share classes which are not presented will vary from the after-tax returns of Class I shares.

Swan Defined Risk Emerging Markets Fund | Bloomberg Barclays Capital U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes)

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

3.54%

^[3]

Since Inception

rr_AverageAnnualReturnSinceInception

2.26%

^[3]

Swan Defined Risk Emerging Markets Fund | MSCI Emerging Markets Index (reflects no deduction for fees, expenses or taxes)

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

37.75%

^[6]

Since Inception

rr_AverageAnnualReturnSinceInception

9.56%

^[6]

Swan Defined Risk Emerging Markets Fund | 60% MSCI Emerging Markets Index/40% Barclays Aggregate US Bond Index (reflects no deduction for fees, expenses or taxes)

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

21.18%

^[7]

Since Inception

rr_AverageAnnualReturnSinceInception

5.16%

^[7]

Swan Defined Risk Emerging Markets Fund | Class A Shares

Prospectus [Line Items]

rr_ProspectusLineItems

Trading Symbol

dei_TradingSymbol

SDFAX

Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

5.50%

Maximum Deferred Sales Charge (as a percentage of Offering Price)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Redemption Fee (as a percentage of Amount Redeemed)

rr_RedemptionFeeOverRedemption

none

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

1.00%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

0.25%

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

0.42%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.63%

^[8]

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

2.30%

Fee Waiver or Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.02%)

^[9]

Net Expenses (as a percentage of Assets)

rr_NetExpensesOverAssets

2.28%

Expense Breakpoint Discounts [Text]

rr_ExpenseBreakpointDiscounts

You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund.

Expense Breakpoint, Minimum Investment Required [Amount]

rr_ExpenseBreakpointMinimumInvestmentRequiredAmount

$ 50,000

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

768

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

1,227

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,711

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 3,039

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 Year

rr_AverageAnnualReturnYear01

14.91%

Since Inception

rr_AverageAnnualReturnSinceInception

2.36%

Inception Date

rr_AverageAnnualReturnInceptionDate

Dec. 30, 2014

Swan Defined Risk Emerging Markets Fund | Class C Shares

Prospectus [Line Items]

rr_ProspectusLineItems

Trading Symbol

dei_TradingSymbol

SDFCX

Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

none

Maximum Deferred Sales Charge (as a percentage of Offering Price)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Redemption Fee (as a percentage of Amount Redeemed)

rr_RedemptionFeeOverRedemption

none

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

1.00%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

1.00%

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

0.42%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.63%

^[8]

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

3.05%

Fee Waiver or Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.02%)

^[9]

Net Expenses (as a percentage of Assets)

rr_NetExpensesOverAssets

3.03%

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

$ 306

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

940

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,599

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 3,363

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 Year

rr_AverageAnnualReturnYear01

20.77%

Since Inception

rr_AverageAnnualReturnSinceInception

3.54%

Inception Date

rr_AverageAnnualReturnInceptionDate

Dec. 30, 2014

Swan Defined Risk Emerging Markets Fund | Class I Shares

Prospectus [Line Items]

rr_ProspectusLineItems

Trading Symbol

dei_TradingSymbol

SDFIX

Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

none

Maximum Deferred Sales Charge (as a percentage of Offering Price)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Redemption Fee (as a percentage of Amount Redeemed)

rr_RedemptionFeeOverRedemption

none

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

1.00%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

none

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

0.42%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.63%

^[8]

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

2.05%

Fee Waiver or Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.02%)

^[9]

Net Expenses (as a percentage of Assets)

rr_NetExpensesOverAssets

2.03%

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

$ 206

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

641

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,101

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 2,378

Annual Return 2015

rr_AnnualReturn2015

(11.34%)

Annual Return 2016

rr_AnnualReturn2016

5.74%

Annual Return 2017

rr_AnnualReturn2017

22.04%

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 Year

rr_AverageAnnualReturnYear01

22.04%

Since Inception

rr_AverageAnnualReturnSinceInception

4.55%

Inception Date

rr_AverageAnnualReturnInceptionDate

Dec. 30, 2014

Swan Defined Risk Emerging Markets Fund | Class I Shares | Return after taxes on distributions

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

21.35%

Since Inception

rr_AverageAnnualReturnSinceInception

3.99%

Swan Defined Risk Emerging Markets Fund | Class I Shares | Return after taxes on distributions and sale of Fund shares

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

12.77%

Since Inception

rr_AverageAnnualReturnSinceInception

3.33%

Swan Defined Risk Foreign Developed Fund

Prospectus [Line Items]

rr_ProspectusLineItems

Risk/Return [Heading]

rr_RiskReturnHeading

<p style="margin: 0px; font-size: 14pt"><b>FUND SUMMARY – SWAN DEFINED RISK FOREIGN DEVELOPED FUND</b></p>

Objective [Heading]

rr_ObjectiveHeading

<p style="margin: 0px"><b>Investment Objective:</b></p>

Objective, Primary [Text Block]

rr_ObjectivePrimaryTextBlock

The Fund seeks income and growth of capital.

Expense [Heading]

rr_ExpenseHeading

<p style="margin: 0px"><b>Fees and Expenses of the Fund:</b></p>

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. You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and in How to Purchase Shares on page 35 of the Fund’s Prospectus.

Shareholder Fees Caption [Text]

rr_ShareholderFeesCaption

<p style="margin: 0px"><b>Shareholder Fees</b></p> <p style="margin: 0px"><b>(fees paid directly from your investment)</b></p>

Operating Expenses Caption [Text]

rr_OperatingExpensesCaption

<p style="margin: 0px"><b>Annual Fund Operating Expenses</b></p> <p style="margin: 0px"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></p>

Fee Waiver or Reimbursement over Assets, Date of Termination

rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

Oct. 31, 2019

Portfolio Turnover [Heading]

rr_PortfolioTurnoverHeading

<p style="margin: 0px"><b>Portfolio Turnover:</b></p>

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 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. During the most recent fiscal year, the Fund’s portfolio turnover rate was 4% of the average value of its portfolio.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

4.00%

Expense Example [Heading]

rr_ExpenseExampleHeading

<p style="margin: 0px"><b>Example:</b></p>

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

<p style="margin: 0px">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:</p>

Strategy [Heading]

rr_StrategyHeading

<p style="margin: 0px"><b>Principal Investment Strategies:</b></p>

Strategy Narrative [Text Block]

rr_StrategyNarrativeTextBlock

Using the sub-adviser’s proprietary “Defined Risk Strategy” (“DRS”) to select the Fund’s investments, the Fund seeks to achieve its investment objective by primarily investing directly, or indirectly through exchange-traded Funds (“ETFs”), in:

• equity securities of large capitalization (over $10 billion) companies in foreign developed markets, including American depository receipts (“ADRs”) ,

• exchange-traded long-term put options on U.S. exchanges for hedging purposes, and

• buying and selling exchange-traded put and call options on various ETFs and foreign equity indices to generate additional returns.

The DRS seeks to provide risk-managed growth of capital by matching or exceeding the long-term performance of the stock market while avoiding the traditional losses incurred during bear markets. Under normal market conditions, the Fund will invest at least 80% of its assets (defined as net assets plus any borrowing for investment purposes) in securities economically tied to developed countries outside the U.S. Securities considered to be economically tied to developed countries outside the U.S. include, without limitation: (1) an issuer organized under the laws of or maintaining a principal office or principal place(s) of business in one or more foreign developed markets; (2) an issuer of securities that are principally traded in one or more foreign developed markets; (3) an issuer that derives or is currently expected to derive 50% or more of its total sales, revenues, profits, earnings, growth, or another measure of economic activity from, the production or sale of goods or performance of services or making of investments or other economic activity in, one or more foreign developed markets, or that maintains or is currently expected to maintain 50% or more of its employees, assets, investments, operations, or other business activity in one or more foreign developed markets; (4) a governmental or quasi-governmental entity of a foreign developed market; (5) any other issuer that the sub-adviser believes may expose the fund’s assets to the economic fortunes and risks of foreign developed markets or (6) options on securities of any of the above described issuers.

The sub-adviser anticipates income from dividend payments made by ETFs and individual securities, as well as income from short term trades and option premiums (money the buyer of an option pays to the seller of an option), although option income is also described as capital appreciation for tax and accounting purposes. The sub-adviser anticipates executing ETF trades through an exchange rather than trading directly with a fund.

The DRS philosophy is based upon the sub-adviser’s research indicating that market timing and/or stock selection is extremely difficult, may produce volatile returns and that asset allocation is limited in its risk reduction. Using DRS, the sub-adviser seeks to “define risk” by seeking to protect against large losses by hedging the equity securities in the Fund’s portfolio through investments in index or ETF put options. Additionally, the sub-adviser seeks to increase returns by buying and selling call and put options on several ETFs or indices using hedging strategies.

Defined Risk Strategy

The DRS was created in 1997 by Randy Swan, President of the sub-adviser. The objective of the DRS is to provide risk-managed growth of capital by offering a strategy that seeks to match or exceed the long-term performance of the stock market without the traditional losses incurred during bear markets. The DRS philosophy is based upon the sub-adviser’s research indicating that market timing and/or stock selection is extremely difficult and that asset allocation is limited in its risk reduction properties.

Hedging Process

The sub-adviser applies a protective put hedging strategy to hedge the Fund’s equity exposure. The Fund invests in long-term put options (referred to as paying a premium) that gives the Fund the right to sell a security or index at a set (strike) price or sell the long-term put option on an option exchange. The protective put strategy is executed using exchange-traded index and ETF put options to hedge the portfolio and to reduce volatility. The protective put strategy seeks to limit downside loss. Generally, index and ETF put options have an inverse relationship to the applicable underlying index or security.

Option Writing

To generate additional returns, the sub-adviser buys and sells short-term (generally 1-3 month) put and call options on (i) ETFs, (ii) foreign equity indices, (iii) foreign equity securities, and (iv) futures on a regular basis. Additionally, the sub-adviser will regularly engage in various spread option strategies. Spread option strategies involve, for example, selling a 1-month call option while buying a 2-month call option.

Rebalancing

The sub-adviser may rebalance the portfolio to avoid excessive exposure to one economic sector or foreign country/region. Long-term protective put options are typically traded annually to protect capital and/or allow for profit potential, by re-establishing a current-market strike price which depends on whether or not the market has increased or decreased.

As discussed further below the sub-adviser intends on having very little portfolio turnover since most of the ETF portfolio will be held indefinitely. Written options are bought back when the sub-adviser believes they present an unfavorable risk and reward profile. Purchased options are sold when the sub-adviser believes they present an unfavorable risk and reward profile or when more attractive investments are available.

Strategy Portfolio Concentration [Text]

rr_StrategyPortfolioConcentration

Under normal market conditions, the Fund will invest at least 80% of its assets (defined as net assets plus any borrowing for investment purposes) in securities economically tied to developed countries outside the U.S.

Risk [Heading]

rr_RiskHeading

<p style="margin: 0px"><b>Principal Investment Risks:</b></p>

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. The Fund is not intended to be a complete investment program. Many factors affect the Fund’s net asset value (“NAV”) and performance. The following risks may apply to the Fund’s direct investments as well as the Fund’s indirect risks through investing in ETFs.

• ADRs Risk: ADRs may be subject to some of the same risks as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risks. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the depositary’s transaction fees. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the depositary’s transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities that are not passed through.

• Currency Risk: If the Fund invests in securities that trade in, and receive revenues in, foreign currencies, it will be subject to the risk that those currencies will decline in value relative to the U.S. dollar, or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency being hedged. As a result, the Fund’s investments in foreign currency-denominated securities may reduce the Fund’s returns.

• ETF Risk: ETFs are subject to investment advisory and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher than the cost of investing directly in ETFs and may be higher than other mutual funds that invest directly in stocks. ETFs are subject to specific risks, depending on the nature of the ETF.

• Foreign Investment Risk: Foreign investing involves risks not typically associated with U.S. investments, including adverse fluctuations in foreign currency values, adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing auditing and legal standards.

• Leveraging Risk: The use of leverage, such as that embedded in options, could magnify the Fund’s gains or losses. Written option positions expose the Fund to potential losses many times the option premium received.

• Management Risk: The sub-adviser’s dependence on its DRS process and judgments about the attractiveness, value and potential appreciation of particular securities, ETFs and options in which the Fund invests or writes may prove to be incorrect and may not produce the desired results.

• Market Risk: Overall securities market risks will affect the value of individual instruments in which the Fund invests. Factors such as economic growth and market conditions, interest rate levels, and political events affect the US securities markets. When the value of the Fund’s investments goes down, your investment in the Fund decreases in value and you could lose money.

• Option Risk: Purchased put options may expire worthless and may have imperfect correlation to the value of the Fund’s sector ETFs. Written call and put options may limit the Fund’s participation in equity market gains and may amplify losses in market declines. The Fund’s losses are potentially large in a written put or call transaction. If unhedged, written calls expose the Fund to potentially unlimited losses.

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

<p style="margin: 0px"><b>Performance:</b></p>

Performance Narrative [Text Block]

rr_PerformanceNarrativeTextBlock

The bar chart and performance table below show the variability of the Fund’s returns over time, which is some indication of the risks of investing in the Fund. The bar chart shows performance of the Fund’s Class I shares for each full calendar year since the Fund’s inception. You should be aware that the Fund’s past performance (before and after taxes) may not be an indication of how the Fund will perform in the future. Although Class A and Class C shares would have similar annual returns to Class I shares because the classes are invested in the same portfolio of securities, the returns for Class A and Class C shares would be different from Class I shares because Class A and Class C shares have different expenses than Class I shares. Updated performance information will be available at no cost by visiting swandefinedriskfunds.com or by calling 1-877-896-2590.

Performance Information Illustrates Variability of Returns [Text]

rr_PerformanceInformationIllustratesVariabilityOfReturns

The bar chart and performance table below show the variability of the Fund's returns over time, which is some indication of the risks of investing in the Fund.

Performance Availability Phone [Text]

rr_PerformanceAvailabilityPhone

1-877-896-2590

Performance Availability Website Address [Text]

rr_PerformanceAvailabilityWebSiteAddress

www.swandefinedriskfunds.com

Performance Past Does Not Indicate Future [Text]

rr_PerformancePastDoesNotIndicateFuture

You should be aware that the Fund’s past performance (before and after taxes) may not be an indication of how the Fund will perform in the future.

Bar Chart [Heading]

rr_BarChartHeading

<p style="margin: 0px; text-align: center"><b>Class I Performance Bar Chart For Calendar Years Ended December 31</b></p>

Bar Chart Closing [Text Block]

rr_BarChartClosingTextBlock

Best Quarter:	9/30/17	4.43%
Worst Quarter:	6/30/16	(1.10)%

The year-to-date return as of the most recent calendar quarter, which ended September 30, 2018, was (4.28)%.

Year to Date Return, Label

rr_YearToDateReturnLabel

The year-to-date return as of the most recent calendar quarter

Bar Chart, Year to Date Return, Date

rr_BarChartYearToDateReturnDate

Sep. 30, 2018

Bar Chart, Year to Date Return

rr_BarChartYearToDateReturn

(4.28%)

Highest Quarterly Return, Label

rr_HighestQuarterlyReturnLabel

Best Quarter:

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Sep. 30, 2017

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

4.43%

Lowest Quarterly Return, Label

rr_LowestQuarterlyReturnLabel

Worst Quarter:

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Jun. 30, 2016

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

(1.10%)

Performance Table Heading

rr_PerformanceTableHeading

<p style="margin: 0px; text-align: center"><b>Performance Table </b></p> <p style="margin: 0px; text-align: center"><b>Average Annual Total Returns </b></p> <p style="margin: 0px; text-align: center"><i>(For periods ended December 31, 2017)</i></p>

Index No Deduction for Fees, Expenses, Taxes [Text]

rr_IndexNoDeductionForFeesExpensesTaxes

Reflects no deduction for fees, expenses or taxes

Performance Table Uses Highest Federal Rate

rr_PerformanceTableUsesHighestFederalRate

After-tax returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.

Performance Table Not Relevant to Tax Deferred

rr_PerformanceTableNotRelevantToTaxDeferred

Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.

Performance Table One Class of after Tax Shown [Text]

rr_PerformanceTableOneClassOfAfterTaxShown

After tax returns for the share classes which are not presented will vary from the after-tax returns of Class I shares.

Performance Table Closing [Text Block]

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After-tax returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After tax returns for the share classes which are not presented will vary from the after-tax returns of Class I shares. The table above illustrates how the Fund’s average annual total returns over time compare with two domestic broad-based market indices. A blend of both broad-based indices is also provided as the Adviser believes it illustrates a closer representation of the Fund’s portfolio composition.

Swan Defined Risk Foreign Developed Fund | Bloomberg Barclays Capital U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes)

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

3.54%

^[3]

Since Inception

rr_AverageAnnualReturnSinceInception

3.21%

^[3]

Swan Defined Risk Foreign Developed Fund | MSCI EAFE Gross Index (reflects no deduction for fees, expenses or taxes)

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

25.62%

^[10]

Since Inception

rr_AverageAnnualReturnSinceInception

12.39%

^[10]

Swan Defined Risk Foreign Developed Fund | 60% MSCI EAFE Gross/40% Barclays Aggregate US Bond Index (reflects no deduction for fees, expenses or taxes)

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

16.34%

^[11]

Since Inception

rr_AverageAnnualReturnSinceInception

8.77%

^[11]

Swan Defined Risk Foreign Developed Fund | Class A Shares

Prospectus [Line Items]

rr_ProspectusLineItems

Trading Symbol

dei_TradingSymbol

SDJAX

Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

5.50%

Maximum Deferred Sales Charge (as a percentage of Offering Price)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Redemption Fee (as a percentage of Amount Redeemed)

rr_RedemptionFeeOverRedemption

none

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

1.00%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

0.25%

Component1 Other Expenses

rr_Component1OtherExpensesOverAssets

0.21%

Component2 Other Expenses

rr_Component2OtherExpensesOverAssets

0.50%

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

0.71%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.30%

^[8]

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

2.26%

Fee Waiver or Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.10%)

^[12]

Net Expenses (as a percentage of Assets)

rr_NetExpensesOverAssets

2.16%

Expense Breakpoint Discounts [Text]

rr_ExpenseBreakpointDiscounts

You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund.

Expense Breakpoint, Minimum Investment Required [Amount]

rr_ExpenseBreakpointMinimumInvestmentRequiredAmount

$ 50,000

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

757

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

1,208

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,685

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 2,995

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 Year

rr_AverageAnnualReturnYear01

8.32%

Since Inception

rr_AverageAnnualReturnSinceInception

4.01%

Inception Date

rr_AverageAnnualReturnInceptionDate

Dec. 29, 2015

Swan Defined Risk Foreign Developed Fund | Class C Shares

Prospectus [Line Items]

rr_ProspectusLineItems

Trading Symbol

dei_TradingSymbol

SDJCX

Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

none

Maximum Deferred Sales Charge (as a percentage of Offering Price)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Redemption Fee (as a percentage of Amount Redeemed)

rr_RedemptionFeeOverRedemption

none

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

1.00%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

1.00%

Component1 Other Expenses

rr_Component1OtherExpensesOverAssets

0.21%

Component2 Other Expenses

rr_Component2OtherExpensesOverAssets

0.50%

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

0.71%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.30%

^[8]

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

3.01%

Fee Waiver or Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.10%)

^[12]

Net Expenses (as a percentage of Assets)

rr_NetExpensesOverAssets

2.91%

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

$ 294

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

921

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,573

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 3,320

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 Year

rr_AverageAnnualReturnYear01

13.70%

Since Inception

rr_AverageAnnualReturnSinceInception

6.20%

Inception Date

rr_AverageAnnualReturnInceptionDate

Dec. 29, 2015

Swan Defined Risk Foreign Developed Fund | Class I Shares

Prospectus [Line Items]

rr_ProspectusLineItems

Trading Symbol

dei_TradingSymbol

SDJIX

Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

none

Maximum Deferred Sales Charge (as a percentage of Offering Price)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Redemption Fee (as a percentage of Amount Redeemed)

rr_RedemptionFeeOverRedemption

none

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

1.00%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

none

Component1 Other Expenses

rr_Component1OtherExpensesOverAssets

0.21%

Component2 Other Expenses

rr_Component2OtherExpensesOverAssets

0.50%

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

0.71%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.30%

^[8]

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

2.01%

Fee Waiver or Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.10%)

^[12]

Net Expenses (as a percentage of Assets)

rr_NetExpensesOverAssets

1.91%

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

$ 194

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

621

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,074

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 2,330

Annual Return 2016

rr_AnnualReturn2016

0.26%

Annual Return 2017

rr_AnnualReturn2017

14.82%

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 Year

rr_AverageAnnualReturnYear01

14.82%

Since Inception

rr_AverageAnnualReturnSinceInception

7.22%

Inception Date

rr_AverageAnnualReturnInceptionDate

Dec. 29, 2015

Swan Defined Risk Foreign Developed Fund | Class I Shares | Return after taxes on distributions

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

13.79%

Since Inception

rr_AverageAnnualReturnSinceInception

6.49%

Swan Defined Risk Foreign Developed Fund | Class I Shares | Return after taxes on distributions and sale of Fund shares

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

8.86%

Since Inception

rr_AverageAnnualReturnSinceInception

5.39%

Swan Defined Risk U.S. Small Cap Fund

Prospectus [Line Items]

rr_ProspectusLineItems

Risk/Return [Heading]

rr_RiskReturnHeading

<p style="margin: 0px; font-size: 14pt"><b>FUND SUMMARY – SWAN DEFINED RISK U.S. SMALL CAP FUND</b></p>

Objective [Heading]

rr_ObjectiveHeading

<p style="margin: 0px"><b>Investment Objective:</b></p>

Objective, Primary [Text Block]

rr_ObjectivePrimaryTextBlock

The Fund seeks income and growth of capital.

Expense [Heading]

rr_ExpenseHeading

<p style="margin: 0px"><b>Fees and Expenses of the Fund:</b></p>

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. You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and in How to Purchase Shares on page 35 of the Fund’s Prospectus.

Shareholder Fees Caption [Text]

rr_ShareholderFeesCaption

<p style="margin: 0px"><b>Shareholder Fees</b></p> <p style="margin: 0px"><b>(fees paid directly from your investment)</b></p>

Operating Expenses Caption [Text]

rr_OperatingExpensesCaption

<p style="margin: 0px"><b>Annual Fund Operating Expenses</b></p> <p style="margin: 0px"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></p>

Fee Waiver or Reimbursement over Assets, Date of Termination

rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

Oct. 31, 2019

Portfolio Turnover [Heading]

rr_PortfolioTurnoverHeading

<p style="margin: 0px"><b>Portfolio Turnover:</b></p>

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 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. During the most recent fiscal year, the Fund’s portfolio turnover rate was 1% of the average value of its portfolio.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

1.00%

Expense Example [Heading]

rr_ExpenseExampleHeading

<p style="margin: 0px"><b>Example:</b></p>

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

<p style="margin: 0px">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:</p>

Strategy [Heading]

rr_StrategyHeading

<p style="margin: 0px"><b>Principal Investment Strategies:</b></p>

Strategy Narrative [Text Block]

rr_StrategyNarrativeTextBlock

Using the sub-adviser’s proprietary “Defined Risk Strategy”(“DRS”) to select the Fund’s investments, the Fund seeks to achieve its investment objective by investing directly, or indirectly through exchange-traded funds (“ETFs”), in:

• equity securities of domestic small capitalization companies,

• exchange-traded long-term put options on U.S. exchanges for hedging purposes, and

• buying and selling exchange-traded put and call options on various ETFs, securities and equity indices to generate additional returns.

The DRS seeks to provide risk-managed growth of capital by matching or exceeding the long-term performance of the stock market while avoiding the traditional losses incurred during bear markets. Under normal market conditions, the Fund will invest at least 80% of its assets (defined as net assets plus any borrowing for investment purposes) in securities of domestic small capitalization (under $3 billion) companies through ETFs. However, the Fund may have small investments in equity securities of medium and large capitalization companies as well as foreign companies. The sub-adviser anticipates income from dividend payments made by ETFs, as well as income from short term trades and option premiums, although option income is also described as capital appreciation for tax and accounting purposes. The sub-adviser anticipates executing ETF trades through an exchange rather than trading directly with a fund.

The DRS philosophy is based upon the sub-adviser’s research indicating that market timing and/or stock selection is extremely difficult, may produce volatile returns and that asset allocation is limited in its risk reduction.Using DRS, the sub-adviser seeks to “define risk” by seeking to protect against large losses by hedging the equity securities in the Fund’s portfolio through investments in protective long-term index or ETF put options. Additionally, the sub-adviser seeks to increase returns by buying and selling call and put options on several ETFs or indices using hedging strategies.

Defined Risk Strategy

The DRS was created in 1997 by Randy Swan, President of the sub-adviser. The objective of the DRS is to provide risk-managed growth of capital by offering a strategy that seeks to match or exceed the long-term performance of the stock market without the traditional losses incurred during bear markets. The DRS philosophy is based upon the sub-adviser’s research indicating that market timing and/or stock selection is extremely difficult and that asset allocation is limited in its risk reduction properties.

Hedging Process

The sub-adviser applies a protective put hedging strategy to hedge the Fund’s equity exposure. The Fund invests in long-term put options (referred to as paying a premium) that gives the Fund the right to sell a security or index at a set (strike) price or sell the long-term put option on an option exchange. The protective put strategy is executed using exchange-traded index and ETF put options to hedge the portfolio and to reduce volatility. The protective put strategy seeks to limit downside loss. Generally, index and ETF put options have an inverse relationship to the applicable underlying index or security.

Option Writing

To generate additional returns, the sub-adviser buys and sells short-term (generally 1-3 month) (i) put and call options on equity indices, such as the Russell 2000, (ii) ETFs and (iii) futures on a regular basis. Additionally, the sub-adviser will regularly engage in various spread option strategies. Spread option strategies involve, for example, selling a 1-month call option while buying a 2-month call option. Each option strategy includes a hedging element so that the Fund is not exposed to significant losses on written options.

Rebalancing

The sub-adviser may rebalance the portfolio to avoid excessive exposure to one economic sector. Long-term protective put options are typically traded annually to protect captal and/or allow for profit potential, by re-establishing a current-market strike price which depends on whether or not the market has increased or decreased.

As discussed further below, the sub-adviser intends on having very little portfolio turnover since most of the equity portfolio will be held indefinitely. Written options are bought back when the sub-adviser believes they present an unfavorable risk and reward profile. Purchased options are sold when the sub-adviser believes they present an unfavorable risk and reward profile or when more attractive investments are available.

Strategy Portfolio Concentration [Text]

rr_StrategyPortfolioConcentration

Under normal market conditions, the Fund will invest at least 80% of its assets (defined as net assets plus any borrowing for investment purposes) in securities of domestic small capitalization (under $3 billion) companies through ETFs.

Risk [Heading]

rr_RiskHeading

<p style="margin: 0px"><b>Principal Investment Risks:</b></p>

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. The Fund is not intended to be a complete investment program. Many factors affect the Fund’s net asset value (“NAV”) and performance. The following risks may apply to the Fund’s direct investments as well as the Fund’s indirect risks through investing in ETFs.

• ETF Risk: ETFs are subject to investment advisory and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher than the cost of investing directly in ETFs and may be higher than other mutual funds that invest directly in stocks. ETFs are subject to specific risks, depending on the nature of the ETF.

• Foreign Investment Risk: Foreign investing involves risks not typically associated with U.S. investments, including adverse fluctuations in foreign currency values, adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing auditing and legal standards.

• Leveraging Risk: The use of leverage, such as that embedded in options, could magnify the Fund’s gains or losses. Written option positions expose the Fund to potential losses many times the option premium received.

• Management Risk: The sub-adviser’s dependence on its DRS process and judgments about the attractiveness, value and potential appreciation of particular securities, ETFs and options in which the Fund invests or writes may prove to be incorrect and may not produce the desired results.

• Market Risk: Overall securities market risks will affect the value of individual instruments in which the Fund invests. Factors such as economic growth and market conditions, interest rate levels, and political events affect the US securities markets. When the value of the Fund’s investments goes down, your investment in the Fund decreases in value and you could lose money.

• Option Risk: Purchased put options may decline in value or expire worthless and may have imperfect correlation to the value of the Fund’s portfolio securities. Written call and put options may limit the Fund’s participation in equity market gains and may amplify losses in market declines. The Fund’s losses are potentially large in a written put or call transaction. If unhedged, written calls expose the Fund to potentially unlimited losses.

• Small and Medium Capitalization Stock Risk: The earnings and prospects of small and medium sized companies are more volatile than larger companies and may experience higher failure rates than larger companies. Small and medium sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and may have limited markets, product lines, or financial resources and lack management experience.

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

<p style="margin: 0px"><b>Performance:</b></p>

Performance Narrative [Text Block]

rr_PerformanceNarrativeTextBlock

The bar chart and performance table below show the variability of the Fund’s returns over time, which is some indication of the risks of investing in the Fund. The bar chart shows performance of the Fund’s Class I shares for each full calendar year since the Fund’s inception. You should be aware that the Fund’s past performance (before and after taxes) may not be an indication of how the Fund will perform in the future. Although Class A and Class C shares would have similar annual returns to Class I shares because the classes are invested in the same portfolio of securities, the returns for Class A and Class C shares would be different from Class I shares because Class A and Class C shares have different expenses than Class I shares. Updated performance information will be available at no cost by visiting swandefinedriskfunds.com or by calling 1-877-896-2590.

Performance Information Illustrates Variability of Returns [Text]

rr_PerformanceInformationIllustratesVariabilityOfReturns

The bar chart and performance table below show the variability of the Fund's returns over time, which is some indication of the risks of investing in the Fund.

Performance Availability Phone [Text]

rr_PerformanceAvailabilityPhone

1-877-896-2590

Performance Availability Website Address [Text]

rr_PerformanceAvailabilityWebSiteAddress

www.swandefinedriskfunds.com

Performance Past Does Not Indicate Future [Text]

rr_PerformancePastDoesNotIndicateFuture

You should be aware that the Fund’s past performance (before and after taxes) may not be an indication of how the Fund will perform in the future.

Bar Chart [Heading]

rr_BarChartHeading

<p style="margin: 0px; text-align: center"><b>Class I Performance Bar Chart For Calendar Years Ended December 31</b></p>

Bar Chart Closing [Text Block]

rr_BarChartClosingTextBlock

Best Quarter:	9/30/16	5.45%
Worst Quarter:	3/31/16	0.10%

The year-to-date return as of the most recent calendar quarter, which ended September 30, 2018, was 5.18%.

Year to Date Return, Label

rr_YearToDateReturnLabel

The year-to-date return as of the most recent calendar quarter

Bar Chart, Year to Date Return, Date

rr_BarChartYearToDateReturnDate

Sep. 30, 2018

Bar Chart, Year to Date Return

rr_BarChartYearToDateReturn

5.18%

Highest Quarterly Return, Label

rr_HighestQuarterlyReturnLabel

Best Quarter:

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Sep. 30, 2016

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

5.45%

Lowest Quarterly Return, Label

rr_LowestQuarterlyReturnLabel

Worst Quarter:

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Mar. 31, 2016

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

0.10%

Performance Table Heading

rr_PerformanceTableHeading

<p style="margin: 0px; text-align: center"><b>Performance Table </b></p> <p style="margin: 0px; text-align: center"><b>Average Annual Total Returns </b></p> <p style="margin: 0px; text-align: center"><i>(For periods ended December 31, 2017)</i></p>

Index No Deduction for Fees, Expenses, Taxes [Text]

rr_IndexNoDeductionForFeesExpensesTaxes

Reflects no deduction for fees, expenses or taxes

Performance Table Uses Highest Federal Rate

rr_PerformanceTableUsesHighestFederalRate

After-tax returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.

Performance Table Not Relevant to Tax Deferred

rr_PerformanceTableNotRelevantToTaxDeferred

Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.

Performance Table One Class of after Tax Shown [Text]

rr_PerformanceTableOneClassOfAfterTaxShown

After tax returns for the share classes which are not presented will vary from the after-tax returns of Class I shares.

Performance Table Closing [Text Block]

rr_PerformanceTableClosingTextBlock

After-tax returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After tax returns for the share classes which are not presented will vary from the after-tax returns of Class I shares. The table above illustrates how the Fund’s average annual total returns over time compare with two domestic broad-based market indices. A blend of both broad-based indices is also provided as the Adviser believes it illustrates a closer representation of the Fund’s portfolio composition.

Swan Defined Risk U.S. Small Cap Fund | Bloomberg Barclays Capital U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes)

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

3.54%

^[3]

Since Inception

rr_AverageAnnualReturnSinceInception

3.21%

^[3]

Swan Defined Risk U.S. Small Cap Fund | Russell 2000 Total Return Index (reflects no deduction for fees, expenses or taxes)

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

14.65%

^[13]

Since Inception

rr_AverageAnnualReturnSinceInception

16.63%

^[13]

Swan Defined Risk U.S. Small Cap Fund | 60% Russell 2000 Total Return/40% Barclays Aggregate US Bond Index (reflects no deduction for fees, expenses or taxes)

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

10.17%

^[14]

Since Inception

rr_AverageAnnualReturnSinceInception

11.39%

^[14]

Swan Defined Risk U.S. Small Cap Fund | Class A Shares

Prospectus [Line Items]

rr_ProspectusLineItems

Trading Symbol

dei_TradingSymbol

SDCAX

Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

5.50%

Maximum Deferred Sales Charge (as a percentage of Offering Price)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Redemption Fee (as a percentage of Amount Redeemed)

rr_RedemptionFeeOverRedemption

none

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

1.00%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

0.25%

Component1 Other Expenses

rr_Component1OtherExpensesOverAssets

0.15%

Component2 Other Expenses

rr_Component2OtherExpensesOverAssets

0.53%

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

0.68%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.19%

^[8]

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

2.12%

Fee Waiver or Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.13%)

^[15]

Net Expenses (as a percentage of Assets)

rr_NetExpensesOverAssets

1.99%

Expense Breakpoint Discounts [Text]

rr_ExpenseBreakpointDiscounts

You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund.

Expense Breakpoint, Minimum Investment Required [Amount]

rr_ExpenseBreakpointMinimumInvestmentRequiredAmount

$ 50,000

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

741

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

1,166

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,615

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 2,857

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 Year

rr_AverageAnnualReturnYear01

2.02%

Since Inception

rr_AverageAnnualReturnSinceInception

7.22%

Inception Date

rr_AverageAnnualReturnInceptionDate

Dec. 29, 2015

Swan Defined Risk U.S. Small Cap Fund | Class C Shares

Prospectus [Line Items]

rr_ProspectusLineItems

Trading Symbol

dei_TradingSymbol

SDCCX

Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

none

Maximum Deferred Sales Charge (as a percentage of Offering Price)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Redemption Fee (as a percentage of Amount Redeemed)

rr_RedemptionFeeOverRedemption

none

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

1.00%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

1.00%

Component1 Other Expenses

rr_Component1OtherExpensesOverAssets

0.15%

Component2 Other Expenses

rr_Component2OtherExpensesOverAssets

0.53%

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

0.68%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.19%

^[8]

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

2.87%

Fee Waiver or Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.13%)

^[15]

Net Expenses (as a percentage of Assets)

rr_NetExpensesOverAssets

2.74%

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

$ 277

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

877

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,502

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 3,186

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 Year

rr_AverageAnnualReturnYear01

7.07%

Since Inception

rr_AverageAnnualReturnSinceInception

9.50%

Inception Date

rr_AverageAnnualReturnInceptionDate

Dec. 29, 2015

Swan Defined Risk U.S. Small Cap Fund | Class I Shares

Prospectus [Line Items]

rr_ProspectusLineItems

Trading Symbol

dei_TradingSymbol

SDCIX

Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

none

Maximum Deferred Sales Charge (as a percentage of Offering Price)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Redemption Fee (as a percentage of Amount Redeemed)

rr_RedemptionFeeOverRedemption

none

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

1.00%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

none

Component1 Other Expenses

rr_Component1OtherExpensesOverAssets

0.15%

Component2 Other Expenses

rr_Component2OtherExpensesOverAssets

0.53%

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

0.68%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.19%

^[8]

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

1.87%

Fee Waiver or Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.13%)

^[15]

Net Expenses (as a percentage of Assets)

rr_NetExpensesOverAssets

1.74%

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

$ 177

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

575

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

999

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 2,180

Annual Return 2016

rr_AnnualReturn2016

13.27%

Annual Return 2017

rr_AnnualReturn2017

8.18%

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 Year

rr_AverageAnnualReturnYear01

8.18%

Since Inception

rr_AverageAnnualReturnSinceInception

10.50%

Inception Date

rr_AverageAnnualReturnInceptionDate

Dec. 29, 2015

Swan Defined Risk U.S. Small Cap Fund | Class I Shares | Return after taxes on distributions

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

8.18%

Since Inception

rr_AverageAnnualReturnSinceInception

10.45%

Swan Defined Risk U.S. Small Cap Fund | Class I Shares | Return after taxes on distributions and sale of Fund shares

Prospectus [Line Items]

rr_ProspectusLineItems

1 Year

rr_AverageAnnualReturnYear01

4.63%

Since Inception

rr_AverageAnnualReturnSinceInception

8.09%

[1] The S&P 500 Total Return Index is an unmanaged free-float capitalization-weighted index which measures the performance of 500 large-cap common stocks actively traded in the United States. Index returns assume reinvestment of dividends. Investors may not invest in the Index directly. Unlike the Fund's returns, the Index does not reflect any fees or expenses.

[2] The Fund's Class I shares and Class A shares commenced operations on July 30, 2012.

[3] The Bloomberg Barclays Capital U.S. Aggregate Bond Index is an unmanaged index comprised of U.S. investment grade, fixed rate bond market securities, including government, government agency, corporate and mortgage-backed securities between one and ten years. Index returns assume reinvestment of dividends. Investors may not invest in the Index directly. Unlike the Fund's returns, the Index does not reflect any fees or expenses.

[4] The 60% S&P 500 Index/40% Barclays Aggregate US Bond Index is a blend of the two above indices.

[5] 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 statements include only the direct operating expenses incurred by the Fund.

[6] The MSCI Emerging Markets Index captures large and mid cap representation across 23 Emerging Markets countries. With 822 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in each country. Index returns assume reinvestment of dividends. Investors may not invest in the Index directly. Unlike the Fund's returns, the Index does not reflect any fees or expenses.

[7] The 60% MSCI Emerging Markets Index/40% Barclays Aggregate US Bond is a blend of the two above indices.

[8] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies, including exchange-traded funds ("ETFs").

[9] Swan Capital Management, LLC (the "Adviser") has contractually agreed to waive its fees and reimburse expenses of the Fund, at least until October 31, 2019 so that the Total Annual Operating Expenses After Fee Waiver and Reimbursement (excluding: (i) any front-end or contingent deferred loads; (ii) brokerage fees and commissions, (iii) acquired fund fees and expenses; (iii) borrowing costs (such as interest and dividend expense on securities sold short); (iv) taxes; and (v) extraordinary expenses, such as litigation expenses (which may include indemnification of Fund officers and Trustees, contractual indemnification of Fund service providers (other than the Adviser))) will not exceed 1.65%, 2.40% and 1.40% of average daily net assets attributable to Class A, Class C, and Class I shares, respectively. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within the three years after the fees have been waived or reimbursed, if such recoupment can be achieved within the lesser of the foregoing expense limits or the expense limits in place at the time of recoupment. This agreement may be terminated only by the Board of Trustees on 60 days' written notice to the Adviser.

[10] The MSCI EAFE Gross Index is a stock market index that is designed to measure the equity market performance of developed markets outside of the U.S. & Canada. Index returns assume reinvestment of dividends. Investors may not invest in the Index directly. Unlike the Fund's returns, the Index does not reflect any fees or expenses.

[11] The 60% MSCI EAFE Gross/40% Barclays Aggregate US Bond Index is a blend of the two above indices.

[12] Swan Capital Management LLC, (the "Adviser") has contractually agreed to waive its fees and reimburse expenses of the Fund, at least until October 31, 2019 so that the Total Annual Operating Expenses After Fee Waiver and Reimbursement (excluding: (i) any front-end or contingent deferred loads; (ii) brokerage fees and commissions, (iii) acquired fund fees and expenses; (iii) borrowing costs (such as interest and dividend expense on securities sold short); (iv) taxes; and (v) extraordinary expenses, such as litigation expenses (which may include indemnification of Fund officers and Trustees, contractual indemnification of Fund service providers (other than the Adviser))) will not exceed 1.65%, 2.40% and 1.40% of average daily net assets attributable to Class A, Class C, and Class I shares, respectively. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within the three years after the fees have been waived or reimbursed, if such recoupment can be achieved within the lesser of the foregoing expense limits or the expense limits in place at the time of recoupment. This agreement may be terminated only by the Board of Trustees on 60 days' written notice to the Adviser.

[13] The Russell 2000 Total Return Index is an unmanaged market capitalization-weighted index which measures the performance of the small-cap sector of the U.S. stock market. Index returns assume reinvestment of dividends. Investors may not invest in the Index directly. Unlike the Fund's returns, the Index does not reflect any fees or expenses.

[14] The 60% Russell 2000 Total Return/40% Barclays Aggregate US Bond Index is a blend of the two above indices.

[15] Swan Capital Management, LLC ("the Adviser") has contractually agreed to waive its fees and reimburse expenses of the Fund, at least until October 31, 2019 so that the Total Annual Operating Expenses After Fee Waiver and Reimbursement (excluding: (i) any front-end or contingent deferred loads; (ii) brokerage fees and commissions, (iii) acquired fund fees and expenses; (iii) borrowing costs (such as interest and dividend expense on securities sold short); (iv) taxes; and (v) extraordinary expenses, such as litigation expenses (which may include indemnification of Fund officers and Trustees, contractual indemnification of Fund service providers (other than the Adviser))) will not exceed 1.65%, 2.40% and 1.40% of average daily net assets attributable to Class A, Class C, and Class I shares, respectively. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within the three years after the fees have been waived or reimbursed, if such recoupment can be achieved within the lesser of the foregoing expense limits and the expense limits in place at the time of recoupment. This agreement may be terminated only by the Board of Trustees on 60 days' written notice to the Adviser.