497

August 30, 2018

Securities and Exchange Commission
Filing Desk
100 F Street, N.E.
Washington, D.C. 20549

RE: WP Trust (the “Trust”) (File Nos. 333-206306 and 811-23086)

Ladies and Gentlemen:

The enclosed filing pursuant to Rule 497(c) is being made for the sole purpose of submitting an interactive data file as required by Rule 405 of Regulation S-T. The interactive data file included as exhibits to this filing relates to the supplemented prospectus filed with the Securities and Exchange Commission on August 20, 2018 (Accession Number: 0001387131-18-004106) the WP Large Cap Income Plus Fund, a portfolio series of the Trust.

If you have any questions concerning the foregoing, please contact the undersigned at (913) 660-0778 or John.Lively@Practus.com.

Very truly yours,

/s/ John H. Lively

John H. Lively

 

EXHIBIT INDEX

Index No.	Description of Exhibit
EX-101.INS	XBRL Instance Document
EX-101.SCH	XBRL Taxonomy Extension Schema Document
EX-101.CAL	XBRL Taxonomy Extension Calculation Linkbase
EX-101.DEF	XBRL Taxonomy Extension Definition Linkbase
EX-101.LAB	XBRL Taxonomy Extension Labels Linkbase
EX-101.PRE	XBRL Taxonomy Extension Presentation Linkbase

XML

WP Large Cap Income Plus Fund

Summary

Investment Objective.

The investment objective of the WP Large Cap Income Plus Fund (the “Fund”) is total return.

Fees and Expenses of the Fund.

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your household 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 the section captioned “Purchasing Shares” on page 13 of this prospectus and the section captioned “Purchases” beginning on page 34 of the Fund’s Statement of Additional Information (“SAI”). Expense Information in the annual fund operating expenses table is as of February 28, 2018.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees - WP Large Cap Income Plus Fund	Class A Shares		Class C Shares	Institutional Class Shares
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)	5.50%		none	none
Maximum Contingent Deferred Sales Charge (Load) (as a percentage of original purchase price or the amount redeemed, whichever is less)	1.00%	[1]	1.00%	none

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses - WP Large Cap Income Plus Fund		Class A Shares	[1]	Class C Shares	[1]	Institutional Class Shares
Management Fees		1.35%		1.35%		1.35%
Distribution and Service (12b-1) Fees		0.25%		1.00%		0.25%
Component1 Other Expenses		0.85%		0.85%		0.85%
Acquired Fund Fees and Expenses		0.10%		0.10%		0.10%
Total Annual Fund Operating Expenses	[2]	2.55%		3.30%		2.55%

Example.

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

This expense 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 expense example also assumes that your investment has a 5% return each year and the Fund’s operating expenses remain the same. The Contingent Deferred Sales Charges (the “CDSCs”) are not included in these calculations for Class A Shares and Class C shares. If the CDSCs were included, your costs would be higher. See “Purchasing Shares – Choosing a Share Class” below. Although your actual costs may be higher or lower, based on these assumptions your cost would be:

Expense Example - WP Large Cap Income Plus Fund - USD ($)	One Year	Three Years	Five Years	Ten Years
Class A Shares	794	1,300	1,831	3,277
Class C Shares	333	1,015	1,722	3,595
Institutional Class Shares	258	793	1,355	2,885

Portfolio Turnover.

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. For the fiscal year ended August 31, 2017, the Fund’s portfolio turnover rate was 3.11% of the average value of its portfolio.

Principal Investment Strategy of the Fund.

The Fund’s investment objective is total return. To meet its investment objective, the Fund will invest at least 80% of its total assets in large cap domestic equity securities and exchange traded funds (“ETFs”) that primarily invest in large cap domestic equity securities. The Fund will seek income through dividends paid on such securities. The Fund will also seek to produce income (e.g., premium income on the sale of an option) and return stability through an options strategy.

Winning Points Advisors, LLC (the “Adviser”) intends to sell covered call options on a portion of the Fund’s stock holdings. The extent of option selling will depend on market conditions and the Adviser’s consideration of the advantages of selling call options on the Fund’s equity investments.

The Fund may also sell put options on stocks and ETFs the Adviser believes are attractive for purchase at prices at or above the exercise price of the put options sold. The Fund may, in certain circumstances, purchase put options on the S&P 500 Composite Stock Price Index (the “S&P 500”) and on individual stocks to protect against a loss of principal value due to stock price decline. The extent of option selling and purchasing activity depends on market conditions and the Adviser’s judgment. The Fund may also seek to pursue its investment objective by selling a series of call and put option spread combinations on the S&P 500.

The Fund may be appropriate for investors with long-term horizons who are not sensitive to short-term losses and want to participate in the long-term growth of the financial markets. The Fund seeks to minimize the effects of inflation on its portfolio. The Fund is classified as non-diversified and may therefore invest a greater percentage of its assets in the securities of fewer issuers than a fund that is diversified.

Principal Risks of Investing in the Fund.

An investment in the Fund is subject to investment risks, including the possible loss of some or all of the principal amount invested.  There can be no assurance that the Fund will be successful in meeting its investment objective.  Generally, the Fund will be subject to the following additional risks:

● Market risk – Market risk refers to the risk that the value of securities in the Fund’s portfolio may decline due to daily fluctuations in the securities markets, including fluctuation in interest rates, national and international economic conditions and general equity market conditions.

● Dividend strategy risk – There can be no assurances that the Adviser will be able to correctly anticipate the level of dividends that companies will pay in any given timeframe. If the Adviser’s expectations as to potential dividends are wrong, the Fund’s performance may be adversely affected.

● Management style risk – To the extent the Fund focuses on a particular style of stocks, such as growth or value, its performance may at times be better or worse than that of similar funds with other focuses or that have a broader investment style.

● Large company risk – The Fund will invest in larger, more established companies, which may be unable to respond quickly to new competitive challenges such as changes in consumer tastes or innovative smaller competitors. Also, large companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansions.

● Interest rate risk – Increases in interest rates typically lower the present value of a company’s future earnings stream. Accordingly, stock prices will generally decline when investors anticipate or experience rising interest rates.

● Issuer risk – The value of an individual security or particular type of security can be more volatile and thus perform differently than the market as a whole.

● Equity risk – Equity risk is the risk that securities held by the Fund will fall due to general market or economic conditions, perceptions regarding the industries in which the issuers of securities held by the Fund participate, and the particular circumstances and performance of those companies whose securities the Fund holds.

● Shares of other investment companies and ETFs risk – You will indirectly bear fees and expenses charged by the underlying funds in which the Fund may invest in addition to the Fund’s direct fees and expenses and, as a result, your cost of investing in the Fund will generally be higher than the cost of investing directly in the underlying fund shares. Investments in ETFs bear the risk that the market price of the ETF’s shares may trade at a discount to their net asset value or that an active trading market for an ETF’s shares may not develop or be maintained. The Fund may place otherwise uninvested cash in money market mutual funds.

● Non-diversified fund risk – The Fund is a non-diversified fund. A non-diversified fund is generally subject to the risk that a large loss in an individual holding will cause a greater loss for the fund than it would if the fund was required to hold a larger number of securities or smaller positions.

● Options risk – Purchasing and selling put and call options are highly specialized activities and entail greater than ordinary investment risks. The successful use of options depends in part on the ability of the Adviser to manage future price fluctuations and the degree of correlation between the options and securities (or currency) markets. By selling put options on equity securities, the Fund gives up the opportunity to benefit from potential increases in the value of the underlying securities above the strike prices of the sold put options, but continues to bear the risk of declines in the value of underlying securities held by the Fund. The Fund will receive a premium from the purchaser of a covered call option sold by the Adviser, which it retains whether or not the option is exercised. The premium received from the sold options may not be sufficient to offset any losses sustained from the volatility of the underlying equity securities over time.

● Limits on option selling risk – The number of call options the Fund can sell is limited by the number of shares of common stock or ETFs or other securities the Fund holds, and is further subject to limitations established by each of the exchanges, boards of trade or other trading facilities on which such options are traded.

● Options strategy risk – The Fund’s option strategy consists of selling and purchasing put and call options on equity indexes and ETFs. The sale of put options generates income for the Fund, but exposes it to the risk of declines in the value of the underlying assets. The risk in purchasing options is limited to the premium paid by the Fund for the options. The sale of call options generates income for the Fund, but may limit the Fund’s participation in equity market gains. The Fund’s investment advisor seeks to reduce the overall volatility of returns for the Fund by managing a portfolio of options.

● Derivatives risk – The use of derivatives can lead to losses because of adverse movements in the price. Losses may also occur because the value of the asset, index, rate or instrument underlying a derivative loses value, or due to failure of a counterparty or due to tax or regulatory constraints. Derivatives may create economic leverage in the Fund, which magnifies the Fund’s exposure to the underlying investment. The loss on derivative transactions may significantly exceed the initial investment.

● General fund investing risk – The Fund is not a complete investment program and you may lose money by investing in the Fund. All investments carry a certain amount of risk and there is no guarantee that the Fund will be able to achieve its investment objective.

Performance.

The Fund was reorganized on August 17, 2018 from a series of 360 Funds, a Delaware statutory trust (the “Predecessor Fund”), to a series of WP Trust, a Delaware statutory trust (the “Reorganization”). While the Fund is substantially similar to the Predecessor Fund and theoretically would have invested in the same portfolio of securities, the Fund’s performance may be different than the performance of the Predecessor Fund due to, among other things, differences in fees and expenses.

The bar chart and performance table below show the variability of the Predecessor Fund’s returns, which is some indication of the risks of investing in the Fund. The bar chart shows performance of the Predecessor Fund’s Institutional Class shares for each full calendar year since the Predecessor Fund’s inception. The performance table compares the performance of the Predecessor Fund’s Institutional Class shares over time to the performance of a broad-based securities market index. You should be aware that the Predecessor Fund’s past performance (before and after taxes) may not be an indication of how the Fund will perform in the future. Updated performance information will be available at no cost by calling (877) 244-6235. Performance is not presented for Class A and Class C shares because they have not begun operations.

Year-by-Year Total Return (for periods ended December 31, 2017)

The Fund’s Institutional Class Shares year-to-date total return through June 30, 2018 was -0.22%.

During the period shown in the bar chart, the highest return for a quarter was 13.09% during the quarter ended December 31, 2015 and the lowest return for a quarter was -13.56% during the quarter ended September 30, 2015.

Average Annual Total Returns

(for periods ended December 31, 2017) 

Average Annual Total Returns - WP Large Cap Income Plus Fund	1 Year	Since Inception	Inception Date
Institutional Class Shares	23.73%	8.97%	Oct. 10, 2013
Institutional Class Shares | Return After Taxes on Distributions	22.56%	8.68%	Oct. 10, 2013
Institutional Class Shares | Return After Taxes on Distributions and Sale of Fund Shares	14.38%	7.721%	Oct. 10, 2013
Dow Jones Industrial Average Total Return Index	28.11%	14.18%	Oct. 10, 2013

After-tax returns are calculated using the historical highest individual federal income tax rates in effect as of December 31, 2017 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. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirements accounts (“IRAs”).

Current performance of the Fund may be lower or higher than the performance quoted above. Updated performance information may be obtained by calling (877) 244-6235.

[1] Contingent Deferred Sales Charge applies to Class A shares only when a Shareholder purchase in the Fund totals $1 million or more and the shareholder redeems within 1 year of purchase.

[1] Expenses for Class A shares and Class C shares are based on estimates since those classes have not yet commenced operations.

[2] The Adviser has entered into a contractual agreement with the Trust with respect to the Fund under which it has agreed to waive or reduce its fees and to assume other expenses of the Fund, if necessary, in an amount that limits "Total Annual Fund Operating Expenses" (exclusive of interest, expenses incurred under a plan of distribution adopted pursuant to Rule 12b-1 under the 1940 Act, taxes, acquired fund fees and expenses, brokerage commissions, dividend expenses on short sales, other expenditures which are capitalized in accordance with generally accepted accounting principles, expenses associated with any proxies, mergers, reorganizations and other shareholder solicitation activities, litigation-related expenses and other extraordinary expenses not incurred in the ordinary course of the Fund's business) to not more than 2.50%. The Fund may, at a later date, reimburse the Adviser the management fees waived or limited and other expenses assumed and paid by the Adviser pursuant to the Expense Limitation Agreement during any of the previous three fiscal years, if the total annual fund operating expenses for the applicable following year, after giving effect to the repayment, do not exceed the operating expense limit with respect to the average daily net assets of the Fund (or any lower expense limitation or limitations to which the parties may otherwise agree). The contractual agreement cannot be terminated prior to December 31, 2019 without the Board of Trustees' approval.

XML

Label

Element

Value

Risk Return Abstract

rr_RiskReturnAbstract

Document Type

dei_DocumentType

497

Document Period End Date

dei_DocumentPeriodEndDate

Jun. 30, 2018

Registrant Name

dei_EntityRegistrantName

WP Trust

Central Index Key

dei_EntityCentralIndexKey

0001645192

Amendment Flag

dei_AmendmentFlag

false

Document Creation Date

dei_DocumentCreationDate

Aug. 20, 2018

Document Effective Date

dei_DocumentEffectiveDate

Aug. 20, 2018

Prospectus Date

rr_ProspectusDate

Aug. 20, 2018

WP Large Cap Income Plus Fund

Risk Return Abstract

rr_RiskReturnAbstract

Risk/Return [Heading]

rr_RiskReturnHeading

Summary

Objective [Heading]

rr_ObjectiveHeading

Investment Objective.

Objective, Primary [Text Block]

rr_ObjectivePrimaryTextBlock

The investment objective of the WP Large Cap Income Plus Fund (the “Fund”) is total return.

Expense [Heading]

rr_ExpenseHeading

Fees and Expenses of the Fund.

Expense Narrative [Text Block]

rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your household 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 the section captioned “Purchasing Shares” on page 13 of this prospectus and the section captioned “Purchases” beginning on page 34 of the Fund’s Statement of Additional Information (“SAI”). Expense Information in the annual fund operating expenses table is as of February 28, 2018.

Shareholder Fees Caption [Text]

rr_ShareholderFeesCaption

Shareholder Fees (fees paid directly from your investment)

Operating Expenses Caption [Text]

rr_OperatingExpensesCaption

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Fee Waiver or Reimbursement over Assets, Date of Termination

rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

12/31/19

Portfolio Turnover [Heading]

rr_PortfolioTurnoverHeading

Portfolio Turnover.

Portfolio Turnover [Text Block]

rr_PortfolioTurnoverTextBlock

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. For the fiscal year ended August 31, 2017, the Fund’s portfolio turnover rate was 3.11% of the average value of its portfolio.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

3.11%

Expense Breakpoint Discounts [Text]

rr_ExpenseBreakpointDiscounts

You may qualify for sales charge discounts if you and your household 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

Other Expenses, New Fund, Based on Estimates [Text]

rr_OtherExpensesNewFundBasedOnEstimates

Expenses for Class A shares and Class C shares are based on estimates since those classes have not yet commenced operations. 

Expense Example [Heading]

rr_ExpenseExampleHeading

Example.

Expense Example Narrative [Text Block]

rr_ExpenseExampleNarrativeTextBlock

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

This expense 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 expense example also assumes that your investment has a 5% return each year and the Fund’s operating expenses remain the same. The Contingent Deferred Sales Charges (the “CDSCs”) are not included in these calculations for Class A Shares and Class C shares. If the CDSCs were included, your costs would be higher. See “Purchasing Shares – Choosing a Share Class” below. Although your actual costs may be higher or lower, based on these assumptions your cost would be:

Strategy [Heading]

rr_StrategyHeading

Principal Investment Strategy of the Fund.

Strategy Narrative [Text Block]

rr_StrategyNarrativeTextBlock

The Fund’s investment objective is total return. To meet its investment objective, the Fund will invest at least 80% of its total assets in large cap domestic equity securities and exchange traded funds (“ETFs”) that primarily invest in large cap domestic equity securities. The Fund will seek income through dividends paid on such securities. The Fund will also seek to produce income (e.g., premium income on the sale of an option) and return stability through an options strategy.

Winning Points Advisors, LLC (the “Adviser”) intends to sell covered call options on a portion of the Fund’s stock holdings. The extent of option selling will depend on market conditions and the Adviser’s consideration of the advantages of selling call options on the Fund’s equity investments.

The Fund may also sell put options on stocks and ETFs the Adviser believes are attractive for purchase at prices at or above the exercise price of the put options sold. The Fund may, in certain circumstances, purchase put options on the S&P 500 Composite Stock Price Index (the “S&P 500”) and on individual stocks to protect against a loss of principal value due to stock price decline. The extent of option selling and purchasing activity depends on market conditions and the Adviser’s judgment. The Fund may also seek to pursue its investment objective by selling a series of call and put option spread combinations on the S&P 500.

The Fund may be appropriate for investors with long-term horizons who are not sensitive to short-term losses and want to participate in the long-term growth of the financial markets. The Fund seeks to minimize the effects of inflation on its portfolio. The Fund is classified as non-diversified and may therefore invest a greater percentage of its assets in the securities of fewer issuers than a fund that is diversified.

Risk [Heading]

rr_RiskHeading

Principal Risks of Investing in the Fund.

Risk Narrative [Text Block]

rr_RiskNarrativeTextBlock

An investment in the Fund is subject to investment risks, including the possible loss of some or all of the principal amount invested.  There can be no assurance that the Fund will be successful in meeting its investment objective.  Generally, the Fund will be subject to the following additional risks:

● Market risk – Market risk refers to the risk that the value of securities in the Fund’s portfolio may decline due to daily fluctuations in the securities markets, including fluctuation in interest rates, national and international economic conditions and general equity market conditions.

● Dividend strategy risk – There can be no assurances that the Adviser will be able to correctly anticipate the level of dividends that companies will pay in any given timeframe. If the Adviser’s expectations as to potential dividends are wrong, the Fund’s performance may be adversely affected.

● Management style risk – To the extent the Fund focuses on a particular style of stocks, such as growth or value, its performance may at times be better or worse than that of similar funds with other focuses or that have a broader investment style.

● Large company risk – The Fund will invest in larger, more established companies, which may be unable to respond quickly to new competitive challenges such as changes in consumer tastes or innovative smaller competitors. Also, large companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansions.

● Interest rate risk – Increases in interest rates typically lower the present value of a company’s future earnings stream. Accordingly, stock prices will generally decline when investors anticipate or experience rising interest rates.

● Issuer risk – The value of an individual security or particular type of security can be more volatile and thus perform differently than the market as a whole.

● Equity risk – Equity risk is the risk that securities held by the Fund will fall due to general market or economic conditions, perceptions regarding the industries in which the issuers of securities held by the Fund participate, and the particular circumstances and performance of those companies whose securities the Fund holds.

● Shares of other investment companies and ETFs risk – You will indirectly bear fees and expenses charged by the underlying funds in which the Fund may invest in addition to the Fund’s direct fees and expenses and, as a result, your cost of investing in the Fund will generally be higher than the cost of investing directly in the underlying fund shares. Investments in ETFs bear the risk that the market price of the ETF’s shares may trade at a discount to their net asset value or that an active trading market for an ETF’s shares may not develop or be maintained. The Fund may place otherwise uninvested cash in money market mutual funds.

● Non-diversified fund risk – The Fund is a non-diversified fund. A non-diversified fund is generally subject to the risk that a large loss in an individual holding will cause a greater loss for the fund than it would if the fund was required to hold a larger number of securities or smaller positions.

● Options risk – Purchasing and selling put and call options are highly specialized activities and entail greater than ordinary investment risks. The successful use of options depends in part on the ability of the Adviser to manage future price fluctuations and the degree of correlation between the options and securities (or currency) markets. By selling put options on equity securities, the Fund gives up the opportunity to benefit from potential increases in the value of the underlying securities above the strike prices of the sold put options, but continues to bear the risk of declines in the value of underlying securities held by the Fund. The Fund will receive a premium from the purchaser of a covered call option sold by the Adviser, which it retains whether or not the option is exercised. The premium received from the sold options may not be sufficient to offset any losses sustained from the volatility of the underlying equity securities over time.

● Limits on option selling risk – The number of call options the Fund can sell is limited by the number of shares of common stock or ETFs or other securities the Fund holds, and is further subject to limitations established by each of the exchanges, boards of trade or other trading facilities on which such options are traded.

● Options strategy risk – The Fund’s option strategy consists of selling and purchasing put and call options on equity indexes and ETFs. The sale of put options generates income for the Fund, but exposes it to the risk of declines in the value of the underlying assets. The risk in purchasing options is limited to the premium paid by the Fund for the options. The sale of call options generates income for the Fund, but may limit the Fund’s participation in equity market gains. The Fund’s investment advisor seeks to reduce the overall volatility of returns for the Fund by managing a portfolio of options.

● Derivatives risk – The use of derivatives can lead to losses because of adverse movements in the price. Losses may also occur because the value of the asset, index, rate or instrument underlying a derivative loses value, or due to failure of a counterparty or due to tax or regulatory constraints. Derivatives may create economic leverage in the Fund, which magnifies the Fund’s exposure to the underlying investment. The loss on derivative transactions may significantly exceed the initial investment.

● General fund investing risk – The Fund is not a complete investment program and you may lose money by investing in the Fund. All investments carry a certain amount of risk and there is no guarantee that the Fund will be able to achieve its investment objective.

Risk Lose Money [Text]

rr_RiskLoseMoney

An investment in the Fund is subject to investment risks, including the possible loss of some or all of the principal amount invested.

Risk Nondiversified Status [Text]

rr_RiskNondiversifiedStatus

The Fund is classified as non-diversified and may therefore invest a greater percentage of its assets in the securities of fewer issuers than a fund that is diversified.

Bar Chart and Performance Table [Heading]

rr_BarChartAndPerformanceTableHeading

Performance.

Performance Narrative [Text Block]

rr_PerformanceNarrativeTextBlock

The Fund was reorganized on August 17, 2018 from a series of 360 Funds, a Delaware statutory trust (the “Predecessor Fund”), to a series of WP Trust, a Delaware statutory trust (the “Reorganization”). While the Fund is substantially similar to the Predecessor Fund and theoretically would have invested in the same portfolio of securities, the Fund’s performance may be different than the performance of the Predecessor Fund due to, among other things, differences in fees and expenses.

The bar chart and performance table below show the variability of the Predecessor Fund’s returns, which is some indication of the risks of investing in the Fund. The bar chart shows performance of the Predecessor Fund’s Institutional Class shares for each full calendar year since the Predecessor Fund’s inception. The performance table compares the performance of the Predecessor Fund’s Institutional Class shares over time to the performance of a broad-based securities market index. You should be aware that the Predecessor Fund’s past performance (before and after taxes) may not be an indication of how the Fund will perform in the future. Updated performance information will be available at no cost by calling (877) 244-6235. Performance is not presented for Class A and Class C shares because they have not begun operations.

Performance Information Illustrates Variability of Returns [Text]

rr_PerformanceInformationIllustratesVariabilityOfReturns

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

Performance Availability Phone [Text]

rr_PerformanceAvailabilityPhone

(877) 244-6235.

Performance Past Does Not Indicate Future [Text]

rr_PerformancePastDoesNotIndicateFuture

You should be aware that the Predecessor 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

Year-by-Year Total Return (for periods ended December 31, 2017)

Bar Chart Closing [Text Block]

rr_BarChartClosingTextBlock

The Fund’s Institutional Class Shares year-to-date total return through June 30, 2018 was -0.22%.

During the period shown in the bar chart, the highest return for a quarter was 13.09% during the quarter ended December 31, 2015 and the lowest return for a quarter was -13.56% during the quarter ended September 30, 2015.

Performance Table Heading

rr_PerformanceTableHeading

Average Annual Total Returns

(for periods ended December 31, 2017) 

Performance Table Closing [Text Block]

rr_PerformanceTableClosingTextBlock

After-tax returns are calculated using the historical highest individual federal income tax rates in effect as of December 31, 2017 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. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirements accounts (“IRAs”).

Current performance of the Fund may be lower or higher than the performance quoted above. Updated performance information may be obtained by calling (877) 244-6235.

WP Large Cap Income Plus Fund | Class A Shares

Risk Return Abstract

rr_RiskReturnAbstract

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

5.50%

Maximum Contingent Deferred Sales Charge (Load) (as a percentage of original purchase price or the amount redeemed, whichever is less)

rr_MaximumDeferredSalesChargeOverOfferingPrice

1.00%

^[1]

Management Fees

rr_ManagementFeesOverAssets

1.35%

^[2]

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

0.25%

^[2]

Component1 Other Expenses

rr_Component1OtherExpensesOverAssets

0.85%

^[2]

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.10%

^[2]

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

2.55%

^[2],[3]

One Year

rr_ExpenseExampleYear01

$ 794

Three Years

rr_ExpenseExampleYear03

1,300

Five Years

rr_ExpenseExampleYear05

1,831

Ten Years

rr_ExpenseExampleYear10

$ 3,277

WP Large Cap Income Plus Fund | Class C Shares

Risk Return Abstract

rr_RiskReturnAbstract

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

none

Maximum Contingent Deferred Sales Charge (Load) (as a percentage of original purchase price or the amount redeemed, whichever is less)

rr_MaximumDeferredSalesChargeOverOfferingPrice

1.00%

Management Fees

rr_ManagementFeesOverAssets

1.35%

^[2]

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

1.00%

^[2]

Component1 Other Expenses

rr_Component1OtherExpensesOverAssets

0.85%

^[2]

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.10%

^[2]

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

3.30%

^[2],[3]

One Year

rr_ExpenseExampleYear01

$ 333

Three Years

rr_ExpenseExampleYear03

1,015

Five Years

rr_ExpenseExampleYear05

1,722

Ten Years

rr_ExpenseExampleYear10

$ 3,595

WP Large Cap Income Plus Fund | Institutional Class Shares

Risk Return Abstract

rr_RiskReturnAbstract

Trading Symbol

dei_TradingSymbol

PLCX

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

none

Maximum Contingent Deferred Sales Charge (Load) (as a percentage of original purchase price or the amount redeemed, whichever is less)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Management Fees

rr_ManagementFeesOverAssets

1.35%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

0.25%

Component1 Other Expenses

rr_Component1OtherExpensesOverAssets

0.85%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.10%

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

2.55%

^[3]

One Year

rr_ExpenseExampleYear01

$ 258

Three Years

rr_ExpenseExampleYear03

793

Five Years

rr_ExpenseExampleYear05

1,355

Ten Years

rr_ExpenseExampleYear10

$ 2,885

Annual Return 2014

rr_AnnualReturn2014

(5.20%)

Annual Return 2015

rr_AnnualReturn2015

(0.13%)

Annual Return 2016

rr_AnnualReturn2016

18.78%

Annual Return 2018

rr_AnnualReturn2018

23.73%

Year to Date Return, Label

rr_YearToDateReturnLabel

Institutional Class Shares year-to-date total return

Bar Chart, Year to Date Return, Date

rr_BarChartYearToDateReturnDate

Jun. 30, 2018

Bar Chart, Year to Date Return

rr_BarChartYearToDateReturn

(0.22%)

Highest Quarterly Return, Label

rr_HighestQuarterlyReturnLabel

highest return for a quarter

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Dec. 31, 2015

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

13.09%

Lowest Quarterly Return, Label

rr_LowestQuarterlyReturnLabel

lowest return for a quarter

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Sep. 30, 2015

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

(13.56%)

Performance Table Uses Highest Federal Rate

rr_PerformanceTableUsesHighestFederalRate

After-tax returns are calculated using the historical highest individual federal income tax rates in effect as of December 31, 2017 and do not reflect the impact of state and local taxes.

Performance Table Not Relevant to Tax Deferred

rr_PerformanceTableNotRelevantToTaxDeferred

After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirements accounts (“IRAs”).

1 Year

rr_AverageAnnualReturnYear01

23.73%

Since Inception

rr_AverageAnnualReturnSinceInception

8.97%

Inception Date

rr_AverageAnnualReturnInceptionDate

Oct. 10, 2013

WP Large Cap Income Plus Fund | Return After Taxes on Distributions | Institutional Class Shares

Risk Return Abstract

rr_RiskReturnAbstract

1 Year

rr_AverageAnnualReturnYear01

22.56%

Since Inception

rr_AverageAnnualReturnSinceInception

8.68%

Inception Date

rr_AverageAnnualReturnInceptionDate

Oct. 10, 2013

WP Large Cap Income Plus Fund | Return After Taxes on Distributions and Sale of Fund Shares | Institutional Class Shares

Risk Return Abstract

rr_RiskReturnAbstract

1 Year

rr_AverageAnnualReturnYear01

14.38%

Since Inception

rr_AverageAnnualReturnSinceInception

7.721%

Inception Date

rr_AverageAnnualReturnInceptionDate

Oct. 10, 2013

WP Large Cap Income Plus Fund | Dow Jones Industrial Average Total Return Index

Risk Return Abstract

rr_RiskReturnAbstract

1 Year

rr_AverageAnnualReturnYear01

28.11%

Since Inception

rr_AverageAnnualReturnSinceInception

14.18%

Inception Date

rr_AverageAnnualReturnInceptionDate

Oct. 10, 2013

[1] Contingent Deferred Sales Charge applies to Class A shares only when a Shareholder purchase in the Fund totals $1 million or more and the shareholder redeems within 1 year of purchase.

[2] Expenses for Class A shares and Class C shares are based on estimates since those classes have not yet commenced operations.

[3] The Adviser has entered into a contractual agreement with the Trust with respect to the Fund under which it has agreed to waive or reduce its fees and to assume other expenses of the Fund, if necessary, in an amount that limits "Total Annual Fund Operating Expenses" (exclusive of interest, expenses incurred under a plan of distribution adopted pursuant to Rule 12b-1 under the 1940 Act, taxes, acquired fund fees and expenses, brokerage commissions, dividend expenses on short sales, other expenditures which are capitalized in accordance with generally accepted accounting principles, expenses associated with any proxies, mergers, reorganizations and other shareholder solicitation activities, litigation-related expenses and other extraordinary expenses not incurred in the ordinary course of the Fund's business) to not more than 2.50%. The Fund may, at a later date, reimburse the Adviser the management fees waived or limited and other expenses assumed and paid by the Adviser pursuant to the Expense Limitation Agreement during any of the previous three fiscal years, if the total annual fund operating expenses for the applicable following year, after giving effect to the repayment, do not exceed the operating expense limit with respect to the average daily net assets of the Fund (or any lower expense limitation or limitations to which the parties may otherwise agree). The contractual agreement cannot be terminated prior to December 31, 2019 without the Board of Trustees' approval.