Our firm, Wambolt & Associates, LLC, is an investment adviser registered with the Securities and Exchange Commission. We feel that it is important for you to understand how advisory and brokerage services and fees differ in order to determine which type of account is right for you. There are free and simple tools available to research firms and financial professionals at www.investor.gov/CRS, which also provides educational materials about investment advisers, broker-dealers, and investing.
What investment services and advice can you provide me?
We are a registered investment adviser that offers investment advisory services, including Asset Management, Comprehensive Wealth Management, and Financial Planning & Consulting to clients. Our initial meeting would consist of getting to know you, your needs, goals, current financial situation and objectives. If you decide to work with our firm, we can create a Financial Plan based on your unique situation and design a strategy to achieve your investment goals. We will recommend a portfolio of investments that is monitored at least monthly, and if necessary, rebalanced to meet your changing needs and goals. We will offer you advice on a regular basis and contact you at least annually to discuss your portfolio.
We manage accounts on a discretionary basis, which means we may not ask you in advance when we make a trade. Once you sign our management agreement, you are granting us discretion over your portfolio and we have the ability to manage the investments on your behalf. Any limitations to this discretion will be described in the signed management agreement. We will have discretion until the management agreement is terminated by you or our firm.
We do not restrict our advice to limited types of products or investments.
Our firm does not impose requirements for opening and maintaining accounts or otherwise to engage with our firm.
Financial Planning or Consulting is included in our Asset Management and Comprehensive Wealth Management services for no additional fee. We also offer a separate Financial Planning & Consulting service for a flat or hourly fee. We do not monitor your investments for the standalone Financial Planning & Consulting service.
Additional information about our advisory services is in Item 4 & 7 of our Firm Brochure which is available online at https://adviserinfo.sec.gov/firm/summary/153454.
Questions to Ask Us: 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 those qualifications mean?
What fees will I pay?
For Asset Management and Comprehensive Wealth Management, you will be charged an ongoing quarterly fee in advance, based on the value of the assets in your account on the last business day of the prior quarter. Fees for the first cycle bill will be proportional to track only those days in the quarter when your account(s) were under our management and a signed management agreement is on file. Our Asset Management & Comprehensive Wealth Management fee schedule ranges from 0.48% to 1.98% depending on the value of the assets in your account. The amount you pay will depend on the amount of assets in your account. The more assets you accumulate in your advisory account, the less you may pay us in asset management fees. This is because, based on our blended tier rate fee schedule, as your overall portfolio value increases, you could move to a lower fee schedule percentage, conversely if your portfolio value decreases your fee percentage may increase. This is further explained in our Firm Brochure. As overall assets increase, the firm’s overall revenue increases. Our firm’s fees will automatically be deducted from your advisory account. In rare cases, we will agree to send you invoices rather than automatically deduct our fees from your advisory account.
As noted above, we also offer a separate Financial Planning & Consulting service for a flat or hourly fee. Our maximum flat fee is $20,000 and maximum hourly rate is $200 for this service. We may charge an upfront retainer when you sign an engagement contract for this service and collect the remainder when we provide the completed financial plan or consultation.
The custodian that holds your assets may charge you a transaction fee when we buy or sell an investment for you. The custodian’s transaction fees are in addition to our firm’s fees for our Asset Management and Comprehensive Wealth Management services.
You may also pay fees imposed by the custodian or broker dealer holding your accounts for certain investments and maintaining your account. Some investments, such as mutual funds, index funds, exchange traded funds, privately held investments, and variable annuities, charge additional fees that will reduce the value of your investments over time. In addition, you may have to pay fees such as “surrender charges” to sell variable annuities.
In certain cases, we may select third party money managers, with your approval, to assist us with managing your account. If selected, they will charge you a fee, which will be described to you in their Form ADV and agreement. This fee may be in addition to any fees mentioned above. 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 is in Item 5 of our Firm Brochure which is available online at https://adviserinfo.sec.gov/firm/summary/153454.
Questions to Ask Us: Help me understand how these fees and costs may affect my investments. If I give you $10,000 to invest, how much will go to fees and costs and how much will be invested for me?
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:
We may have an incentive to advise you to execute any tax planning and tax preparation through Big Horn Tax Network as Mr. Greg Wambolt owns the company.
Our firm’s financial professionals include licensed insurance agents who provide insurance products that will provide insurance coverage to you based on your request for coverage while they obtain a commission.
Additional information about our conflicts of interest is in Item 10 of our Firm Brochure which is available online at https://adviserinfo.sec.gov/firm/summary/153454.
Questions to Ask Us: How might your conflicts of interest affect me, and how will you address them?
How do your financial professionals make money?
Our financial professionals are compensated based on the revenue our firm earns from their asset management services, financial planning services, and insurance recommendations.
Do you or your financial professionals have legal or disciplinary history?
No, our firm and financial professionals do not have any legal and disciplinary history to disclose. Visit www.investor.gov/CRS for a free and simple search tool to research our firm and our financial professionals.
Questions to Ask Us: As a financial professional, do you have any disciplinary history? For what type of conduct?
You can find additional information about our firm’s investment advisory services on the SEC’s website at www.adviserinfo.sec.gov by searching CRD #153454. You may also contact our firm at (720) 962-6700 to request a copy of this relationship summary and other up-to-date information.
Questions to Ask Us: Who is my primary contact person? Is he or she a representative of an investment adviser or a broker-dealer? Who can I talk to if I have concerns about how this person is treating me?