Woodson Wealth Management
Client Relationship Summary
Woodson Wealth Management and Consulting Inc.
DBA Woodson Wealth Management
Form CRS Relationship Summary
Updated January 12, 2022
Woodson Wealth Management and Consulting Inc. (WWM) is registered with the state of California as an investment adviser. 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?
We offer investment advisory services to retail investors. Our services include Investment Management, Held-Away Account Services, Project-Based and Ongoing Financial Planning.
Under our investment management services, your investment accounts will be monitored and reviewed regularly on at least a quarterly basis by our firm. We will provide advice to you regarding the investments and allocation of your accounts to ensure they are positioned appropriately based on your goals and objectives.
If you are only engaging our firm in financial planning services, we will work with you to review your held away investment accounts that we provide advice to you on but will not be monitoring or reviewing those held away investment accounts, unless otherwise agreed upon as part of your financial planning engagement.
Through our Investment Management Services, we maintain discretionary authority with respect to the purchase and sale of securities in your accounts managed by our firm. We do not require your prior authorization before placing trades in your account(s).
Account Minimums and Other Requirements:
Our minimum managed account size requirement is $400,000. There are no requirements for retail investors to open or maintain an account or establish a relationship.
For Additional Information regarding the services we make available to you, please review Item 4 of our Form ADV Part 2A.
Ask your Adviser:
- “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 amount of fees you pay to our firm and the frequency in which you are billed depends on the services being provided. For investment management service, we will deduct fees directly from your managed account (asset-based fees) on a quarterly basis, pro-rated based on the length of time you have used the service during the quarter. For ongoing financial planning services, we can charge an upfront fee for the development and delivery of a financial plan and then a monthly or quarterly fee for the ongoing implementation and advice provided on that plan. Fees begin to accrue on the date the Financial Planning agreement is signed.
We are paid for investment management services based on a percentage of your managed account value. Therefore, 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 in your account. This is a conflict of interest. However, we mitigate this by ensuring all recommendations and investment decisions we make are in your best interest.
Unless we indicate that your assets are managed through a Wrap Fee Program, our fees are exclusive of brokerage commissions, transaction fees, and other related costs and expenses which you may incur. Additional fees you may pay include certain charges imposed by custodians such as custodial fees, deferred sales charges, or other fees and taxes on brokerage accounts and securities transactions. Mutual fund and exchange-traded funds also charge internal management fees, which are disclosed in a fund’s prospectus.
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.
Ask your Advisor: “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 have to act in your best interest and not put our interest ahead of yours. We have signed an Oath stating this fact. 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.
Ask your Adviser: “Have you signed an Oath stating that you will always put my interests ahead of yours?”
How do your financial professionals make money?
Our financial professionals are compensated on a salary basis and are not paid commissions or other compensation based on the amount of the business generated from their work.
Do you or your financial professionals have legal or disciplinary history?
No. You can visit Investor.gov/CRS for a free and simple search tool to research us and our financial professionals.
Ask your Adviser: “As a financial professional, do you have any disciplinary history? For what type of conduct?”
Ask your Adviser: “Who is my primary contact person? Is he or she a representative of an investment adviser or a brokerdealer? Who can I talk to if I have concerns about how this person is treating me?”