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The financial advisory profession has grown dramatically over the years, and investors have more choices than ever before, not only in how they invest but also in the advisor services they select. Here are questions you should consider if you are seeking advice with your finances and how you can make meaningful differentiations between providers.
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MORAN WEALTH MANAGEMENT
About our group’s founding, our team, and office location.
Moran Wealth Management was founded in March of 1990 by Thomas M. Moran, Founder, Chief Executive Officer, Senior PIM Portfolio Manager and Earl Sistrunk, Director of Trading. The group now consists of 33 individuals, with a combined experience of more than 100 years in the securities industry. The group has one Senior PIM Portfolio Manager Thomas Moran. We are located at 5801 Pelican Bay Blvd, Suite 110, Naples, FL 34108.
About the group’s assets under management.
Moran Wealth Management is responsible for over $3 billion in assets as of December 31, 2020 for families and institutional clients.
Average assets under management per client.
Our average account size is approximately $440,000. Each account is managed to a specific investment portfolio. The number of investment portfolios each client will hold is determined by household size, account types and investor profiles. The average client has roughly 8 accounts with an average household size of $3.5 million.
The percentage of our total assets under management our largest 10 client accounts represent 5% (Our largest 10 accounts are valued at approximately $134.708 million as of 12/31/2020).
About our group’s income tax mitigation strategy for taxable portfolios.
Although we are not a tax advisor, we will be glad to work with you, your accountant and tax advisor to help you meet your financial goals.
About our group’s methodology for determining a client’s strategic asset allocation.
We believe asset allocation is an important factor in determining the variability of portfolio performance. In our opinion, a diversified portfolio can help smooth your investment ride while aiming to give you a higher likelihood of meeting your objectives.
We believe the most important step in developing a strategic allocation is to determine which asset classes are appropriate for your portfolio, given your risk and return objectives and our group’s Capital Market Assumptions. We also suggest reasonable constraints in order to help ensure that the portfolio is well diversified. We can then create model blends of those asset classes in order to help determine a suitable allocation; that is, the portfolio that we believe would be most likely to offer the best return with the lowest risk in order to meet your goals.
Strategic allocations are determined based on a number of factors including correlation, standard deviation, alpha and macroeconomic considerations. In our opinion, having direct management capabilities over a number of asset classes and investment styles may allow better portfolio oversight and aims to maximize tactical allocation decisions.
Portfolio allocations are managed on both a strategic and tactical basis under strict overall allocation guidelines within each asset class and market cycle.
Asset allocation and diversification are investment methods used to help manage risk. They do not guarantee investment returns or eliminate risk of loss including in a declining market.
About our group’s use of cash in portfolio strategies.
A small allocation to cash and cash alternatives can be kept in the portfolio as a liquidity reserve. Asset allocation and diversification are investment methods used to help manage risk. They do not guarantee investment returns or eliminate risk of loss including in a declining market.
About our group’s use of leverage in portfolio strategies.
The portfolio strategy does not, and will never, use leverage.
About our group’s process for determining tactical class adjustments throughout market cycles.
Tactical adjustments to the portfolio are made based on a combination of quantitative and qualitative variables. We use both historical valuation models and a macroeconomic overlay which employs statistically significant variables to determine areas of concern and potential opportunities for reallocation.
About our group’s formal portfolio rebalancing strategy.
A key aspect of a successful investment solution is aiming to ensure that your portfolio total remains properly allocated. We strongly encourage clients to remain within their stated risk tolerance in order to accomplish this, accounts should periodically be rebalanced to their targets. We can rebalance portfolios we manage annually, or more frequently if necessary. If excess cash is available we generally use it first, and then move assets from higher weighted asset classes to lower weighted asset classes as needed.
About our group’s process for implementing tactical portfolio decisions to ensure all clients receive the same trade simultaneously.
We use our group’s Financial Advisor Directed Platform (Unified Wealth Platform) to automate the order entry process and to enhance the order allocation process for FA Directed client accounts. When entering orders for a strategy, we include all accounts with the same investment strategy in a bunched/block order. After the bunched/block order has been executed, an operational or Administrative Associate in the Sales Location, Home Office or on the trading desk must prepare and enter the allocation entries in the group’s systems only for those client accounts listed on the allocation sheet. Average pricing is used to average multiple executions of a single order that was executed at different prices into a single trade. The trades are allocated on a prorated basis and all clients in the bunched/block order will receive the same execution price.
About the research we conduct within our group
Within Moran Wealth Management, research is conducted by a team of analysts headed by Earl Sistrunk, CFA – Director of Trading and with support provided by Christina Shaw, CIPM – Director of Risk Management and Chelsea Ganey, CFA – Portfolio Strategist.
About our group’s process for integrating internal and external resources and sources of information in our research process.
Moran Wealth currently utilizes a variety of variables and research firms to arrive at its recommendations. Our processes are designed to benefit clients by bringing together our collective experience in diverse markets, such as macro strategy, international strategy, equities (large-, mid- and small-capitalization), closed-end funds/exchange-traded tracking products (CEFs/ETPs), fixed income securities (investment-grade, high-yield and municipal securities) and market analysis.
About our client portfolios with the same objectives.
Clients with the same portfolio objective will look similar in holdings. If there are differences it is typically due to either significant additions or withdrawals of cash or client imposed restrictions which could affect the account’s ability to receive certain trades.
About the forms of compensation we receive for providing investment advisory services.
Moran Wealth Management takes a very disciplined and personal approach to managing your money. We use our knowledge and experience in this discretionary relationship to try and achieve the long-term goals you’ve set for your portfolio.
Private Investment Management (PIM) Advisory accounts are charged a comprehensive fee instead of commissions. Fees for the PIM program include advisory services, performance measurement, transaction costs, custody services and trading. Fees are based on the assets in the account and are assessed quarterly. Fee-Based accounts are not designed for excessively traded or inactive accounts, and may not be suitable for all investors. During periods of lower trading activity, your costs might be lower if our compensation was based on commissions. A minimum annual fee may apply for this program. Please carefully review the Wells Fargo Advisors advisory disclosure document for a description of our services and information on all fees and expenses. The minimum account size for this program is $50,000.
About how our group structures custody of assets.
Custody services are provided through Wells Fargo Clearing Services, LLC (WFCS). WFCS provides safekeeping services and comprehensive accounting of all transaction activity and securities holdings.
About the investment-related education provided to our clients.
Investing with Moran Wealth Management involves an ongoing dialogue to review your portfolio, assess new investment opportunities and reevaluate your strategy as market conditions or your objectives change. Moran Wealth primarily keeps clients up to date on emerging issues through personal portfolio reviews. The group also frequently offers client luncheons and seminars on relevant market topics for clients to attend. Lastly, we are always available through phone, email or meeting to answer any questions clients may have about their portfolio or the market.
What sets our team’s services apart from other investment advisors.
We believe in long-term relationships and strive to earn your continued trust. A great reputation must be earned and, once earned, can be relied upon by your family for generations. This is not a commitment we take lightly. Doing the right thing is the center of our investment philosophy. Our clients enjoy the personal attention that is the hallmark of Moran Wealth Management. We maintain long-term relationships with affluent clients who typically have portfolios of $1 million or more of investable assets. Investing with Moran Wealth Management involves an ongoing dialogue to review your portfolio, assess new investment opportunities and reevaluate your strategy as market conditions or your objectives change.
We are performance driven.
Asset allocation cannot eliminate the risk of fluctuating prices and uncertain returns. Wells Fargo Advisors’ Financial Network does not provide tax or legal advice. As each Private Investment Management (PIM®) program account is individually managed, construction and ongoing management of portfolios may vary from those discussed. Past performance is not indicative of future results, and there is no assurance that any investment strategy will be successful. Investments and investment strategies contained herein are provided for informational purposes only. We would need to review your individual situation before recommending appropriate strategies to you. All investing involves risk, including the possible loss of principal. Stocks offer long-term growth potential, but may fluctuate more and provide less current income than other investments.