Client Relationship Summary
Item 1: Introduction
Advanced Wealth Management, LLC (“AWM”) is an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”). Brokerage and investment advisory services and fees differ, and it is important for you to understand these differences. Free and simple tools are available to research firms and financial professionals at Investor.gov/CRS, which also provides educational materials about broker-dealers, investment advisers, and investing.
Item 2: Relationships and Services
What investment services and advice can you provide me?
Our firm offers investment advisory services to retail investors through ongoing portfolio management and financial planning. For portfolio management, we provide continuous supervision over specified accounts, actively monitoring your holdings and providing advice at least quarterly. We manage accounts on a discretionary basis, meaning we buy and sell investments in your account without asking you in advance, though you may impose reasonable restrictions in writing.
Our standard minimum for asset management is $500,000, but we may make exceptions for related households or specific personal circumstances. Our financial planning services involve preparing written plans or consultations covering topics like tax management, estate planning, and retirement funding.
For clients under a fixed-fee asset management arrangement, comprehensive financial planning is bundled into the overall advisory fee. Financial planning alone does not include ongoing investment monitoring or authority.
Our investment advice is not limited to proprietary products or a limited menu of products or types of investments; however, recommendations are based on the client’s objectives, risk tolerance, liquidity needs, tax circumstances, and overall financial plan.
For more information about our advisory services, account minimums, and types of clients, please see Items 4 and 7 of our Form ADV Part 2A Brochure, available on our website and at 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?
Item 3: Fees, Costs, Conflicts, and Standards of Conduct
What fees will I pay?
You will pay an ongoing fee based on a percentage of assets under management, billed monthly or quarterly in advance and calculated based on the market value of your account on the last business day of the prior period. Our annual asset management fee ranges from 0.50% to 2.00% annually. Flat annual fee options start at $5,000 for certain relationships. Separate financial planning and consulting are charged at $500 per hour or a fixed fee generally up to $5,000.
You will pay third-party fees and costs in addition to our fees, such as custodian fees, transaction charges, and mutual fund/ETF expense ratios. If we use specialized third-party money managers, their fees (up to 0.48%) are in addition to ours, but the total combined investment advisory fee will not exceed 2.48% annually.
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.
For more information about our fees and costs, please see Item 5 of our Form ADV Part 2A Brochure, available on our website and at adviserinfo.sec.gov.