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Laurel Wealth Advisors, Inc. ("Laurel Wealth") is registered with the Securities and Exchange Commission as an investment adviser. We have been in business since March 2011 and are located at 990 Highland Drive, Suite 205, Solana Beach, CA 92075. We provide investment advisory accounts and services for a fee rather than offering brokerage accounts and services for commission. Brokerage and investment advisory services and fees differ, and it is important you understand the differences. This document provides you with a summary of the services we provide and how you pay. Please ask us for more information. Free and simple tools are available to research firms and financial professionals at Investor.gov/CRS, the SEC's investor education website, which also provides educational materials about broker-dealers, investment advisers, and investing. (Please view our Form ADV Part 1, Form ADV Disclosure Brochure filings and our website https://www.laurelwa.com for further information on our firm.)
What Investment Services & Advice Can You Provide Me?
Description of Services - We offer advisory services to retail investors, including investment supervisory, financial planning, hourly, and wrap fee program services as part of our standard services. To open an account, we will discuss your investment goals and will help you design a strategy to strive to achieve those goals. Our investment advisory contract with you controls our services. We are responsible for monitoring retail investors' investments. We offer our clients advice regularly and will contact you by phone, in person, or by e-mail no less than annually to review their portfolio accounts. We will provide you with various account reports periodically and no less than annually at a minimum. Your custodian will have custody/possession of your account assets and will provide you with monthly or quarterly account statements and trade confirms showing all activity during the reporting period, as well as the deduction of any fees, expenses, or other charges from your account. We are available for more frequent meetings upon your request. We do not monitor financial planning services client accounts and will not contact them to review their portfolio or provide further reports after the delivery of their plan.
We offer two types of investment authority: discretionary and non-discretionary accounts. You can choose a "discretionary account" (an account that allows us to buy and sell investments within your account, without asking you in advance), or a "non-discretionary account" (an account where we will provide you advice, and you will then decide how to proceed; you will make the ultimate decision concerning the purchase or sale of your investments). We do not exercise any investment authority in connection with financial plan preparation or 3rd party adviser referral services. We do not restrict our advice to limited types of products or investments. Other firms could provide advice on a wider range of choices, some of which might have lower costs. Our minimum asset requirement for new clients is $100,000 in household assets. We may make an exception to this requirement at our discretion. There are no minimum account amounts for financial planning services. Investment supervisory services clients whom we refer to other 3rd Party Advisers will be required to invest the amounts detailed within their Account Agreement with the referred 3rd Party Adviser. You are under no obligation to act upon our recommendation(s). Should you choose to act on any recommendations received, you are under no obligation to effect the transaction through us. If you choose to act on our recommendations, you do not have to place your transactions through our firm. (For additional information, please view our Form ADV Disclosure Brochure, Items 4 & 7.)
Conversation Starters: Ask your financial professional - 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? Please explain what the abbreviations in your licenses are and what they mean
Compare Us vs. Typical Brokerage Accounts - You could also open a brokerage account with a broker-dealer ("BD"), where you may pay a transaction-based fee, generally referred to as a commission, when the broker-dealer buys or sells an investment for you. Features of typical brokerage accounts include (1) with a broker-dealer, you may select investments, or the BD may recommend investments for your account, but the ultimate decision for your investments is yours, (2) a BD must act in your best interests and not place its interests ahead of yours when they recommend an investment or an investment strategy involving securities, and the purchase and sale of investments will be yours, (3) when a BD provides any service to you, they must treat you fairly and comply with a number of specific obligations. Unless you and the BD agree otherwise, they are not required to monitor your portfolio or investments on an on-going basis, (4) if you were to pay a transaction-based fee in a brokerage account, the more trades in our account, the more fees the BD may charge you, so it may have an incentive to encourage you to trade often. You can receive advice in either type of account, but you may prefer paying a transaction-based fee from a cost perspective if you do not trade often or if you plan to buy and hold investments for longer periods of time. You may prefer paying an asset-based fee if you want continuing advice or want someone to make investment decisions for you, even though it may cost you more than a transaction-based fee.
Conversation Starters: Ask your financial professional - Given my financial situation, should I choose an investment advisory service? Why should I choose a brokerage account? Why or why not?
Description of Principal Fees & Costs - Fees and costs affect the value of your account over time. The amounts you will pay for our advisory services will depend upon the services you choose and the dollar value of assets, including cash, in your account. Any fees you pay will align with the fee types we report in our Form ADV Part 2A Disclosure Brochure, Items 4 & 7. (Please also review Items 5.A., B., C, and D, and consider your ERISA 408(b)(2) disclosure, as applicable).
The following describes the fees you will pay for our services - all fees are negotiable:
Clients must be aware:
Description of Other Fees & Costs - 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. The most common fees and costs applicable to our retail investors include fees and charges related to custodial and account maintenance fees, fees related to mutual funds, ETFs, and other transactional and/or product-level fees. Please ask your financial professional to give you more details on what you will pay. Lower fees for comparable services can, at times, be available from other sources. (For more details on our fees, please see our Form ADV, Part 2A Brochure Items 4 & 7, and your Advisory Agreement.)
Conversation Starters: 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?
When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours. We
are held to a fiduciary standard that covers our entire investment advisory relationship with you. We must abide by certain laws and regulations in our interactions with you. We are required to monitor your portfolio, investment strategy, and investments on an on-going basis. Our interests can conflict with your interests. We must eliminate these conflicts or tell you about them in a way you can understand so that you can
decide whether to agree to them. 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. We do not guarantee your portfolio from loss or guarantee any minimum investment performance for our client's portfolios. Investing in securities involves the risk of loss that you should be prepared to bear; past performance is no assurance of future results. Fees and costs will reduce any amount of money you make on your investments over time. You will pay these fees and costs whether you make money or lose money on your investments.
Conversation Starters: Ask your financial professional - How might your conflicts of interest affect me, and how will you address them?
Yes. Visit www.investor.gov for a free and simple search tool to research our firm and our financial professionals. To report a problem to the SEC, visit the SEC's Investors Complaint Page or call their toll-free investor assistance line at 800.732.0330. If you have a problem with your investments, investment account, or financial professional, contact us in writing at 990 Highland Drive, Suite 205, Solana Beach, CA 92075.
Conversation Starters: Ask your financial professional - As a financial professional, do you have any disciplinary history?
For More Information On Our Investment Advisory Services, see our Form ADV Disclosure Brochure, on the IAPD system, our website www.laurelwa.com, any Form ADV Part 2B Brochure a financial professional provides, call us at 1.858.459.1101 or e-mail us at firstname.lastname@example.org.
Conversation Starters: Ask your financial professional - Who is the primary contact person for my account and are they a representative of an investment adviser or broker-dealer? What are their legal obligations to me? If I have concerns about how this person is treating me, who can I talk to?
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