TCWP LLC is registered with the Securities and Exchange Commission as registered as an investment adviser and, as such, we provide advisory services rather than brokerage services. Brokerage and investment advisory services and fees differ, and it is important for you to understand the differences. Additionally, 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. This document is a summary of the services and fees we offer to “retail” investors, which are natural persons who seek or receive services primarily for personal, family, or household purposes.
What investment services and advice can you provide to me?
We offer the following investment advisory services to retail investors: financial planning and investment consulting, and investment management. Detailed information regarding our services can be found in our Form ADV Part 2A Brochure, Items 4, 5, and 7, by clicking this link https://adviserinfo.sec.gov/firm/summary/305145
Account Monitoring If you open an investment account through our firm for discretionary Portfolio Management services, we will monitor your investments on a daily basis as part of our standard service. Our monitoring of your investment accounts is limited in the following situations: we monitor your accounts less frequently and only periodically for non-discretionary Portfolio Management services and we do not monitor accounts for Advisory Consulting services unless specified in the Consulting Agreement.
Investment Authority We manage investment accounts on a discretionary basis whereby we will decide which investments to buy or sell for your account. We have discretion to select, retain or replace third-party managers to manage your accounts. You may limit our discretionary authority (for example, limiting the types of securities that can be purchased or sold for your account) by providing our firm with written restrictions and guidelines. We also offer non- discretionary Portfolio Management services whereby we will provide advice, but you will ultimately decide which investments to buy and sell for your account. You have an unrestricted right to decline to implement any advice provided by our firm on a non-discretionary basis.
Investment Offerings We offer advice on the following types of investments or products: equity securities, corporate debt securities (other than commercial paper), certificates of deposit, municipal securities, variable life insurance, variable annuities, mutual fund shares, United States government securities, options contracts on securities, options contracts on commodities, money market funds, REITs, derivatives and ETFs. We may also offer advice to clients on other types of investments, as appropriate for individualized investment advice.
Account Minimums and Requirements In general, we do not require a minimum dollar amount to open and maintain an advisory account; however, we have the right to terminate your account if it falls below a minimum size which, in our sole opinion, is too small to manage effectively.
Key Questions to Ask Your Financial Professional
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- 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?
The following summarizes the principal fees and costs associated with engaging our firm for investment advisory services.
For detailed information, refer to our Form ADV Part 2A Brochure, Item 5, or by clicking this link https://adviserinfo.sec.gov/firm/summary/305145
- Asset Based Fees – Payable monthly in advance. Because our revenue is derived from asset-based fees, we
- have an incentive to grow your account as much as possible. The more assets there are in your advisory accounts, the more you will pay in fees. This could create an incentive to encourage you to increase the assets in your account that are charged fees;
- Fixed Fees – Payable in advance as specified in the Agreement you sign with our firm;
- Other Advisory Fees – In addition to our fees, clients may pay advisory fees charged by third-party managers, which are separate and apart from our fees;
Examples of the most common fees and costs applicable to our clients are:
- Custodian fees including account maintenance fees;
- Fees related to mutual funds and exchange-traded funds;
- Transaction charges when purchasing or selling securities; and
- Other product-level fees associated with your investments, including possible variable annuity surrender charges.
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.
Key Questions to Ask Your Financial Professional
- Help me understand how these fees and costs might 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 must act in your best interest and not put our interest ahead of yours. At the same time, the way we make money unavoidably creates some conflicts with your interests. It is important that you understand and ask us about these conflicts because they have the potential to affect the investment advice that we provide you. Here is one example to help you understand what this means:
- Third-Party Payments: While we do not receive compensation from third parties when we recommend investments, our supervised persons or affiliates can do this in their individual capacities. For example, some of our Advisors may be licensed to sell certain types of insurance. This results in an incentive for our supervised persons or affiliates to recommend those investments and potentially more frequent purchases.
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/firm/summary/305145.
Key Questions to Ask Your Financial Professional
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- How might your conflicts of interest affect me, and how will you address them?
How do your financial professionals make money?
Our financial professionals servicing your accounts are compensated in the following ways:
- The amount of client assets they service. This results in an incentive to favor clients with more assets being serviced
- The services we provide. This results in an incentive to encourage clients to utilize other services.
- Product sales commissions in their individual capacity. Sales commissions, while not earned as financial professionals of our firm, result in an incentive to sell certain investments and more frequently
Do you or your financial professionals have legal or disciplinary history?
No, we or our financial professionals have not been involved in any legal or disciplinary events or history to disclose. However, this could change and if so, these events are disclosed in the specific individual’s Form U4, as applicable. These documents can be found by going to Investor.gov/CRS.
Key Questions to Ask Your Financial Professional
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- As a financial professional, do you have any disciplinary history? For what type of conduct?
You can find additional information about our investment advisory services and request a copy of the relationship summary from your professional, or the Compliance Dept. 813-553-3784 or click the link provided. https://adviserinfo.sec.gov/firm/summary/305145.
Key Questions to Ask Your Financial Professional
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- 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?
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