A Summary of Your Advisory Relationship with Polaris Wealth Advisory Group
Firm Introduction Polaris Wealth Advisory Group (“Polaris”) is registered with the Securities and Exchange Commission as an investment adviser. We provide comprehensive wealth management services to individuals, trusts, estates, charitable organizations, and businesses. Brokerage and investment advisory services and 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 investor.gov/CRS, which also provides educational materials about broker-dealers, investment advisers, and investing.
What investment services and advice can you provide me?
Polaris offers investment advisory and wealth management services to retail investors. This involves developing a plan to manage your financial resources based on an analysis of your individual needs and circumstances. In a non-discretionary account, you are the ultimate decision maker for what is bought or sold from your account. In a discretionary account, we make these decisions, following any restrictions you place on us while managing the account.
Polaris does not offer limited investment offerings at this time.
Our investment management services are based on your stated objectives and risk tolerance. Our minimum for opening an account is $750,000.
Your investment portfolios are monitored on periodic basis, generally no less frequently than weekly, for consistency with your investment objectives. This monitoring is offered as a part of our standard services.
You can find more information in our Form ADV Part 2A, Items 4 (“Advisory Business”) and 7 (“Types of Clients”).
- 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?
Our fee schedule is tiered based on the total market value of your assets under management. Fees are assessed quarterly, in advance. There is also a $10.50 reporting fee assessed per quarter, per account. For alternative investments, we charge 1.00% per year. You will pay various fees charged directly by the alternative investment originator. You will also be subject to other expenses charged by the custodian. Our fee schedule and a description of other fees you pay can be found in Form ADV Part 2A, Item 5 (“Fees and Compensation”).
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.
- 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?
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.
How else does your firm make money and what conflicts of interest do you have?
The more assets there are in your advisory account, the more you will pay in fees, and we therefore have an incentive to encourage you to increase the assets of yours that we manage for you.
Another potential conflict of interest is that some of our employees invest in the same securities that we recommend to you.
For more information about how we address conflicts of interest, please see our Form ADV Part 2A, Item 11 (“Code of Ethics”).
- 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 paid a base salary, and may receive periodic bonuses based on revenue generated by relationships brought to the firm, and based on additional assets that transfer to the accounts each person services. There is the potential for periodic bonuses based upon the retention of client accounts.
- As a financial professional, do you have any disciplinary history? For what type of conduct?
- 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?