Item 1 – Introduction
Fusion Family Wealth, LLC (“Fusion”, “we” or “us”) is registered with the Securities Exchange Commission (“SEC”) as a Registered Investment Adviser (“RIA”). As an RIA, our services and compensation structure differs from that of a registered broker-dealer, 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. The site also provides educational materials about broker-dealers, investment advisers and investing.
Item 2 – Relationships and Services
What investment services and advice can you provide me?
We provide investment advisory services, including discretionary and non-discretionary investment management, retirement plan consulting, and financial planning and consulting services to individuals, high net worth individuals, trusts, and estates (our “investors”).
When an investor engages us to provide investment management services we shall monitor, on a continuous basis, the investments in the accounts over which we have investment authority as part of our investment management service. Furthermore, when engaged on a discretionary basis, we shall have the authority, without prior consultation with you (unless you impose restrictions on our discretionary authority), to buy, sell, trade and allocate the investments within your account(s) consistent with your investment objectives. Our discretionary authority over your account(s) shall continue until our engagement is terminated. When engaged on a non-discretionary basis, the investor makes the ultimate decision regarding the purchase or sale of investments. When we provide retirement plan consulting services, we will review the investment options available within the plan and make non-discretionary investment recommendations to the investor based on the investment options available and the investor’s financial objectives. When consulting on retirement plan assets, the client makes the ultimate decision regarding the purchase or sale of investments and is responsible for implementing any transactions, whether or not they arise from our recommendations.
We typically provide financial planning and consulting services inclusive of our investment management services. In the event that the investor requires extraordinary planning and/or consultation services (to be determined in our sole discretion), we may determine to charge for such additional services, generally at an hourly rate of $300.
The scope of our investment advisory services does not include proprietary products. Nor is it limited to a group or specific category of investments as we are required to act in our clients’ best interests, i.e., as a fiduciary. We typically require a minimum account size of $2,000,000 for investment management services.
Additional Information: For more detailed information about our Advisory Business and the Types of Clients we generally service, please see Items 4 and 7, respectively in our ADV Part 2A.
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?
Item 3 – Fees, Costs, Conflicts, and Standard of Conduct
What fees will I pay?
We provide our investment advisory services on a fee-only basis. When engaged to provide investment management services, we shall charge a fee calculated as a percentage of your assets under our management (our “AUM Fee”). Our annual AUM Fee for investment management services generally ranges from 0.80% to 1.10%, depending on the amount of assets placed under our management, among other factors. We typically deduct our AUM Fee from one or more of your investment accounts, in advance, on a quarterly basis. Because our AUM Fee is calculated as a percentage of your assets under management, the more assets you have in your advisory account, the more you will pay us for our investment management services. Therefore, we have an incentive to work with you to increase and maximize the value of the assets maintained in accounts we manage.
Our financial planning and consulting services are generally provided inclusive of our AUM Fee. In the event that the investor requires extraordinary planning and/or consultation services (to be determined in our sole discretion), we may determine to charge for such additional services, generally at an hourly rate of $300.
Other Fees and Costs: Your investment assets will be held with a qualified custodian. Custodians generally charge brokerage commissions and/or transaction fees for effecting certain securities transactions (for example, transaction and redemption fees are charged for certain mutual fund transactions). These charges will be assessed in accordance with the qualified custodian’s transaction fee/brokerage commission fee schedule. In addition, relative to certain mutual fund and exchange traded fund purchases, certain charges will be imposed at the fund level (e.g., management fees and other fund expenses). To the extent utilized in the management of client accounts, clients will also incur fees charged by third party asset managers and asset management platforms. 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?
Additional Information: For more detailed information about our fees and costs related to our management of your account, please see Item 5 in our ADV Part 2A.
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 refer clients to third parties for other professional services, and some of these professionals are clients of Fusion and/or serve as referral sources for our firm.
- We may recommend a particular custodian from whom we receive support services and/or products, certain of which assist us to better monitor and service your account.
- We may recommend rollovers out of employer-sponsored retirement plans and into Individual Retirement Accounts that we manage for an asset-based fee. If we don’t currently manage your account held with your employer’s plan, this will increase our compensation.
How might your conflicts of interest affect me, and how will you address them?
Additional Information: For more detailed information about our conflicts of interest, please review our ADV Part 2A.
How do your financial professionals make money?
Our financial professionals are generally compensated on a salary basis, with a bonus component. Bonuses may also be paid to financial professionals based on overall firm performance. Employees who identify new clients for the firm are compensated, in part, on those client assets. Therefore, in those situations, the compensation structure presents a conflict of interest, in that it incentivizes our financial professionals to recommend that you place additional assets under our management. You should discuss your financial professional’s compensation directly with your financial professional.
Item 4 – Disciplinary History
Do you or your financial professionals have legal or disciplinary history? No.
We encourage you to visit www.Investor.gov/CRS to research our firm and our financial professionals. Furthermore, we encourage you to ask your financial professional: As a financial professional, do you have any disciplinary history? If so, for what type of conduct?
Item 5 – Additional Information
Additional information about our firm is available on the SEC’s website at www.adviserinfo.sec.gov. You may contact our Chief Compliance Officer at any time to request a current copy of our ADV Part 2A or our relationship summary. Our Chief Compliance Officer may be reached by phone: (516) 206-1320.
Who is my primary contact person? Is he or she a representative of an investment adviser or broker-dealer? Who can I talk to if I have concerns about how this person is treating me?
A copy of our ADV Part 2A is available at: https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=608354