Relationship Summary
We are registered with the U.S. Securities and Exchange Commission as an investment adviser. Brokerage and investment advisory services fees differ, and it is important for you to understand the differences. Free and simple tools are available to research firms and financial professionals at http://investor.gov/crs, which also provides educational materials about broker-dealers, investment advisers and investing.
What investment services and advice can you provide me?
Our firm offers investment advisory services, which are fully described in our Form ADV Part 2A Disclosure Brochure. Our services include financial planning, consulting, and investment management services. As part of our standard services, we monitor investments that we manage on a continuous and ongoing basis. Financial planning and investment consulting recommendations are not actively monitored. There are no material limitations to our monitoring. We accept discretionary and/or non-discretionary authority to implement the recommended transactions in client accounts. The level of discretion is determined in our agreement and there are no material limitations on the authority. For non-discretionary services, you make the ultimate decision regarding the purchase or sale of investments. We do not offer advice only with respect to proprietary products. We offer advice on individual debt and equity securities, options, privately placed securities (including debt, equity and/or interests in pooled investment vehicles) and independent investment managers. Our services are subject to a minimum account value of $1,000,000.
Additional information about our services can be found in Items 4, 5 and 7 of our Disclosure Brochure and available to all clients or by going here: https://adviserinfo.sec.gov/
Given my financial situation, should I choose an investment advisory service? Why or why not?
How will you choose investments to recommend to me?
What is your relevant experience, including your licenses, education and other qualifications?
What do these qualifications mean?
What fees will I pay?
You will be charged an ongoing quarterly fee based on the value of the assets in your account. Our maximum Portfolio Management annual fee is 1.50%. Financial planning services are rendered in conjunction with investment portfolio management as part of a comprehensive wealth management engagement.
In addition to the advisory fees paid to us, you also incur certain charges imposed by other third parties, such as broker-dealers, custodians, etc. These additional charges include securities brokerage commissions, transaction fees, custodial fees, fees attributable to alternative assets, fees charged by the Third-Party Managers, margin and other borrowing costs, charges imposed directly by a mutual fund or ETF in a client’s account, as disclosed in the fund’s prospectus (e.g., fund management fees and other fund expenses), deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage accounts and securities transactions.
If we decide to use a third-party manager for your account, the third-party manager fees are determined by the particular program(s) and manager(s) with which the client’s assets are invested and are calculated based upon a percentage of client assets under management, as applicable. Independent fixed income manager fees generally range from 0 – 0.90% annually, and independent equity manager fees generally range from 0.00% - 1.50% annually.
The more assets there are in your advisory accounts, the more you will pay in fees, so the firm may therefore have an incentive to encourage you to increase the assets in your account or manage them in a way where we charge higher fees. You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying.
Additional information about our fees can be found in Item 5 of our Disclosure Brochure and available to all clients or by going here: https://adviserinfo.sec.gov/
What are your legal obligations to me when acting as my investment adviser? How else does your firm make money and what conflicts of interest do you have?
When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the investment advice we provide you. Here are some examples to help you understand what this means.
- Proprietary Products: We recommend investments that are issued, sponsored, or managed by us. This results in an incentive for us to recommend (initially and ongoing) that investment.
- Support from Custodian: We receive administrative support, computer software, related systems support, as well as other third-party support from the custodian that we recommend. This results in an incentive to recommend that custodian because we do not have to produce or pay for the products or services provided.
Additional information about our conflicts of interest can be found throughout our Disclosure Brochure and available to all clients or by going here: https://adviserinfo.sec.gov/
How do your financial professionals make money?
Our financial professionals are compensated based on the following factors and conflicts of interest:
- The amount of client assets they service. This results in an incentive to favor clients with more assets being serviced.
- The time and complexity required to meet the client’s needs. This results in an incentive to spend more time on issues than are required.
- Revenue the firm earns from the financial professional’s advisory services or recommendations. This results in an incentive to take steps to maximize revenue for the firm.
Additional information about our financial professionals can be found on their respective Form ADV Part 2 Brochure Supplements that you will be provided.
Do you or your financial professionals have legal or disciplinary history?
No, neither we nor our financial professionals have a legal or disciplinary history. You can visit http://investor.gov/crs for a free and simple search tool to research us and our financial professionals.
You can find additional information about our services in our Disclosure Brochure. To request a copy of this Relationship Summary and any of our other disclosure documents referred to in this document, please call us at (312) 300-2670.