This Wealth Advisory Agreement (“Agreement” or “WAA”) is between Lifestyle Wealth Partners LLC (also referred to as “Lifestyle Wealth”, “LWP”, and/or the “Firm”), your Investment Advisor Representative (“Advisor”) and you, the Client. Whereas the Client wishes to retain the Firm and the Advisor to act as the Client(s) Investment Advisor in accordance with the terms and conditions set forth in this Agreement. This Agreement shall become effective on the date first written below.
This Agreement is intended to outline the details regarding investment management and wealth advisory services provided to the Client.
- Client Communication: Clients may periodically receive emails, newsletters, and other communications from the Firm, your Advisor, custodian, and other service providers. These communications, both relevant and necessary, may be regarding various topics such as market conditions, economic news, financial and retirement planning concepts, tax and risk mitigation strategies, etc. Other necessary communications may be regarding items such as portfolio updates, tax information, fee billing notifications, statements, and Firm required compliance updates to mention just a few types of communications. The Client should notify their Advisor if they change their email.
- Financial Planning and Consulting Account Establishment: This type of service does not require an account to be established with a custodian or any third-party service provider. The account established for this service is for internal records at Lifestyle Wealth. All information gathered is confidential and is not distributed to any outside source and/or third-party unless an expert consultant would help make better recommendations. Info shared with expert consultants will redact personally identifiable information.
- Financial Management Account Establishment: Clients who request Financial Management services will be required to open an account with a custodian. For decisions related to the Client’s account & any investment strategies or recommendations, your Advisor has developed an Investment Policy Statement (“IPS”) determining guidelines to inform appropriate asset allocation(s), and specific investment recommendations, based on the Client’s time horizon, risk tolerance, income needs, financial goals & objectives. The Investment Policy Statement (”IPS”) will be updated by the advisor, annually, correlating with the annual ADV updates. The Advisor will require that the Client establish an account in the Client’s name, into which the Client’s funds and/or securities shall be deposited and shall be referred to as the “Managed Account(s)”. This account, or accounts, will be managed by the Advisor or a TPIA or a combination thereof as agreed upon with the Client. Any securities the Client transfers “In-kind” from a Contra Firm to open a new account and would like to have one or more of these securities excluded from their TPIA managed account(s), must be listed on the IPS form in the notes section. Any changes to exclusions of securities should be discussed with your Advisor and updating the IPS.
- Financial Management Account Access: Clients using Financial Management services will have access to their account(s) through their custodians at all times. The account(s) are held solely in the Client’s name and will always require the Client’s authorization for a partial or full withdrawal of assets, which usually takes a minimum of 24 to 72 hours to process.
- Financial Planning/Investment Management Fee Schedule:Â The Client agrees to pay the Firm for services related to Financial Planning and Consulting, Financial Management, and/or Educational Workshops as determined by the Advisor and Client in this agreement. The Fee Schedule for each service is listed below and is debited as described. All fees are negotiable.
- Investment Management Fee Debit: The custodian will debit from the Client’s account the agreed-upon Investment Management Fee, quarterly in arrears, according to the Investment Management Fee Schedule (Table 1). These fees are calculated based on the total AUM in the Client’s account(s) that may be fully invested, partially invested, or entirely in cash. The Client acknowledges and accepts that the Firm, Advisor, and/or Custodian may have to liquidate securities in their account(s) to cover the cost of these quarterly Investment Management Fees. The Client will be able to review the billing notice in the account(s) on the custodian’s website and have the opportunity to object to the invoiced or debited amount. Fee billing objections can be made by emailing support@lifestylewealth.partners. At NO time will the Firm have access, ability, or authorization to withdraw funds from the Client’s account(s) except for the indirect deduction of Investment Management Fees by the custodian.
- Trading Authorization: According to this Agreement, the Client will grant the Firm non-discretionary or discretionary trading authority to supervise investments and strategies made available by the Firm, Advisor, and/or a TPIA including buying and selling securities in the Client’s custodial account(s). The Client understands that a Risk Tolerance, Asset Allocation Questionnaire, and/or software may be used to determine the portfolio strategy, models, products, holdings, or asset allocation to best achieve the Client’s risk tolerance, goals, and objectives. The Firm and Advisor will always act in a fiduciary capacity on behalf of the Client. The Firm or Advisor will not provide, be obligated, take action, or offer any advice involving tax, legal, or accounting matters on behalf of the Client or with respect to strategy, securities, investments, and/or products, or the issuers thereof, which become the subject of legal notices or proceedings of any kind. Additionally, the Firm or Advisor will not provide advice with respect to strategy, securities, investments, and/or products, or the issuers thereof, which become the subject of legal notices or proceedings which prohibit advisor action on such strategy, securities, investments, and/or products, or the issuers thereof.
- Client Account(s) Review:Â Reviews of the Client managed accounts and/or ongoing financial planning accounts will be conducted either by phone or in person, as requested by the Client. Reviews conducted with the Client will be to address questions they may have about their account(s) followed by any material changes in their goals, objectives, or any life-changing circumstances. Reviews may include current portfolio holdings, performance, current asset allocation, investment strategies, current risk tolerance, income needs, and other general financial conditions of the Client which may influence investment selection or recommended changes to their ongoing financial plans.
- Investment Risk: Neither the Firm and/nor the Advisor will make, express, or imply any promises, guarantees, or warranties that any strategies, plans, concepts, securities, or services will result in a profit to the Client or the avoidance of any loss of principal in the Client’s account(s).
- Cancellation: This Agreement may be canceled by the Client within five (5) business days, without penalty or fee, from the date of acceptance of this agreement. If a Client account has been established and/or is past the initial 5 business days of signing this agreement, either party may terminate this Agreement by notice to the other. Notice of termination by the Client should be emailed to support@lifestylewealth.partners, notifying your Advisor, or contact the Firm at (715) 419-6399. Such termination will be effective five (5) business days after receipt of notification. For cancellations taking place prior to the end of a calendar quarter, the Client will only be charged Investment Management Fees for the days the assets that were in the Client’s custodial account(s) associated with the Firm. Since fees are paid in arrears, no refund will be submitted upon the termination of the account.
- Assignment:Â The Agreement is not assignable by the Firm without the advance written consent of the Client. The Client may not assign its rights under the Agreement without the prior written consent of the Firm.
- Authority to Sign:Â The individual executing the Agreement certifies he or she is legally empowered to enter into the Agreement in such a capacity. If the Agreement is entered into by a trust, corporation, limited liability company, or other business entity, the individual executing the Agreement certifies that he or she has been duly and validly authorized to execute and deliver the Agreement on behalf of such entity and to cause the said entity to be bound by the Agreement.
- Proxies: The Firm and/or Advisor does not assume responsibility for voting proxies related to any securities held in the Client’s account.
- Privacy: As per the Firm’s privacy policy, which can be found at www.lifestylewealth.partners, all information collected from the Client is strictly confidential. This information will not be disclosed to any person or company outside of the Firm, Advisor, TPIA, and/or the custodian unless required by law, or unless the Client specifically authorizes the Firm to share this information.
- Compliance Requirements: Your Advisor is required to give each Client a set of documents called Form ADV 2A and 2B. These documents describe the practices of the Firm and the Advisor’s background. Below, you will be asked to acknowledge if you received these documents.
- Communication On Behalf Of The Client: The Client authorizes LWM to respond to inquiries from, and communicate and share information with, the Client’s attorney, accountant, and other professionals to the extent necessary in furtherance of LWM’s services under this Agreement. LWM will notify the Client on the onset of such communications unless prior authorization is given by the Client to engage in such communications.
