For Clients / Selection of Other Advisers
Another adviser, for some or all of your money.
Acrylic may direct you to a third-party investment adviser to manage all or part of your assets. We check that adviser first, refer you to it, and keep reviewing it as one part of your portfolio.
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Checked first
Before selecting another adviser for you, Acrylic makes sure that adviser is properly licensed or registered as an investment adviser, and licensed or notice filed in the states where Acrylic recommends it.
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Looked at closely
Due diligence on the adviser can include phone calls, meetings and a review of its performance and its investment strategy.
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Referred to you
Acrylic refers you to the adviser and acts as the go-between. Your money can be invested through the adviser's own fund, or through a separately managed account the adviser runs for you. Acrylic may also spread it among more than one fund adviser.
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Watched over time
Acrylic monitors the adviser's performance, and keeps reviewing it as one part of your portfolio.
What it is, in our own filings.
Form CRS lists three advisory services Acrylic primarily offers to retail clients: portfolio management, financial planning and this one. The two filings describe it in these words.
solicitor/selection of other advisers (we select a third party adviser for you to use)
Acrylic may direct clients to third-party investment advisers to manage all or a portion of the client's assets.
Read them in full: Form CRS and Form ADV Part 2A.
Two fees, set out in writing first.
When we recommend a third-party manager, you generally pay our advisory fee and the manager's fee. Your total cost can be higher than it would be with one adviser alone.
- Before you begin
- Every applicable fee and arrangement is disclosed to you in writing before you engage the manager.
- How you pay
- When, how often and how you pay the manager's fee depends on the manager selected.
- Costs charged by others
- Custodian fees, transaction fees and the internal expenses of funds are separate from Acrylic's fees, and you pay them as well.
Form ADV Part 2A, Items 5A, 5B, 5C and 10D. Our fees page sets out how each service is billed.
What we can see, and what we cannot.
The limits
Acrylic's selection process cannot make sure a manager will perform as desired. Acrylic has no control over the day-to-day operations of a manager it selects. It monitors the investments that manager runs for you, but it would not necessarily know about everything at the manager, such as unreported risks, a drift from the manager's stated style, or even regulatory breaches or fraud.
Investing in securities involves a risk of loss that you should be prepared to bear.
The conflicts
Two layers of fees can mean a higher total cost than one adviser. When acting in an advisory capacity through Acrylic, our advisors are held to a fiduciary standard, and Form ADV Part 2A, Item 10D, applies it to the choice of which third-party adviser to recommend.
Some of our advisors are also registered representatives of Brooklight Place Securities, Inc., an affiliate, or licensed insurance agents, and may earn commissions in those roles. That work is not conducted through Acrylic, and insurance is not sold in a fiduciary capacity. You do not have to buy any commissionable product through them.
Form ADV Part 2A, Items 5E, 8B, 10A, 10C and 10D, and Form CRS.
How it works
- A conversation about your goals and what you hold today.
- If another adviser fits part of your portfolio, we tell you who, and you get every fee in writing.
- You decide whether to go ahead. If you do, we refer you and stay the go-between.
- We keep reviewing that adviser as one part of your portfolio.
Accounts in our ongoing advisory services are reviewed on an ongoing basis and at least quarterly, and more often when market conditions or your circumstances call for it (Form ADV Part 2A, Item 13).
Ask whether it fits you.
Selection of other advisers is described in Acrylic Financial's Form ADV Part 2A, Items 4, 5, 8 and 10, and in Form CRS.