GrandView Asset Management LLC (“GrandView”) has been in business since 2006, but became an
independently registered investment adviser in July, 2014. The firm is owned by Bruce A. Smith.
GrandView provides personalized investment management and financial planning services. The firm
provides financial advice to individuals, families, trusts, charitable organizations and foundations,
pensions and corporations.
Financial Planning
In most cases, the client will supply GrandView information including income, investments, savings,
insurance, age, and many other items that are helpful to the firm in assessing your financial goals. The
information is typically provided during personal interviews and supplemented with written information.
Once the information is received, we will discuss your financial needs and goals with you, and compare
your current financial situation with the goals you state. Once these are compared, we will create a
financial and/or investment plan to help you meet your goals.
The plan is intended to be a suggested blueprint of how to meet your goals. Not every plan will be the
same for every client. Each one is specific to the client who requested it. Because the plan is based on
information supplied by you, it is very important that you accurately and completely communicate to us
the information we need. Also, your circumstances and needs may change as your engagement with us
progresses. It is very important that you continually update us with any changes so that if the updates
require changes to your plan, we can make those changes. Otherwise, your plan may no longer be
accurate.
Asset Management
If you wish us to manage your investment accounts, we will ask you to provide us with investment
guidelines, so that we can create asset allocations that meet your needs. Some examples of guidelines
include your risk tolerance, or a maximum amount of assets to be held in non-U.S. investments, or a limit
on the amount of stocks in your portfolio. GrandView can assist you in developing these guidelines. Each
client will have a written investment policy statement to guide both you and us in the management of your
assets.
Asset management services may be provided on a “discretionary” or on a “non- discretionary” basis.
When GrandView is engaged to provide asset management services on a discretionary basis, we will
monitor your accounts to ensure that they are meeting your asset allocation requirements. If any changes
are needed to your investments, we will make the changes. These changes may involve selling a security
or group of investments and buying others or keeping the proceeds in cash. You may at any time place
restrictions on the types of investments we may use on your behalf, or on the allocations to each security
type. You will receive written or electronic confirmations from your account custodian after any changes
are made to your account. You will also receive statements at least quarterly from your account custodian.
Clients engaging us on a discretionary basis will be asked to execute a Limited Power of Attorney
(granting us the discretionary authority over the client accounts) as well as an Investment Management
Agreement that outlines the responsibilities of both the client and GrandView.
When a client engages us to provide investment management services on a non-discretionary basis, we
monitor the accounts in the same way as for discretionary services. The difference is that changes to your
account will not be made until we have confirmed with you (either verbally or in writing) that our
proposed change is acceptable to you.
Wrap Program
The GrandView Wrap Program (the “Program”) is a wrap fee program sponsored by
GrandView Asset
Management LLC (“GrandView”) which has been an independently registered investment adviser since
July, 2014.
GrandView’s wrap fee program is only offered to clients who have their assets managed of a discretionary
basis. For those clients, GrandView may include certain transactional costs in the client’s management
fee. This arrangement is referred to a “Wrap Program”. Fees included in the wrap fee include transaction
fees for the purchase or sale of securities, but do not include expenses related to the use of margin, wire
transfer fees, the fees charged to shareholders of mutual funds or ETFs, mark-ups and mark-downs,
spreads, odd-lot differentials, fees charged by regulatory agencies, and any transaction fees for securities
trades executed by a broker-dealer other than Schwab Advisor Services. Because GrandView will be
managing the assets of wrap fee program clients the same way as other non-wrap fee program clients, the
use of external portfolio managers within the wrap program is expected to be limited. Therefore, there is
no difference between how GrandView manages wrap fee accounts and how GrandView manages other
accounts.
Because of the nature of a wrap fee program, where wrap fees are not tied to an account’s frequency of
trading and apply to generally all assets in the account, this fee arrangement is not appropriate for all
accounts. For example, a wrap fee arrangement would not be appropriate for an account that holds
primarily cash and cash equivalents, fixed income securities or no-transaction-fee mutual funds for a
substantial period of time. GrandView does not include any custodial accounts in the wrap fee program.
Clients whose accounts will be rarely traded should carefully consider whether the Wrap Program is
appropriate. Clients are not required to participate in the Wrap Program. GrandView receives a portion
of the wrap fee for our services.
GrandView does not engage other portfolio managers to manage assets within the wrap fee
program. GrandView is the sole portfolio manager in the wrap program, which means that GrandView
receives a portion of the wrap fee for our services. Transaction fees are paid to various broker-dealers,
mutual funds, and ETFs. The remainder of the wrap fee is the management fee payable to
GrandView. GrandView does have an incentive to recommend Schwab to clients in order to reduce the
fixed fee for transactions. GrandView attempts to mitigate this conflict by requiring that the firm’s
employees acknowledge their fiduciary duty to place client interests ahead of their own, evaluating all
aspects, including the wrap program asset-based transaction pricing when considering what broker-
dealers to recommend.
GrandView will receive no additional compensation for offering the wrap fee program.
Please see the separate Wrap Fee Brochure for a more complete description of the Wrap Program.
Retirement Plan Consulting/Plan Participants
For a business owner or charitable organization director, navigating the landscape of pension issues can
be overwhelming. Choosing the investment options for plan participants can be daunting. Our retirement
sponsor clients can have GrandView provide assistance in choosing and monitoring the plan participant
options. This can help ensure participants are receiving the most they can from this important benefit.
For asset management clients, GrandView will upon request provide assistance with the choice of and
monitoring of the investment options in the client’s qualified self-directed ERISA plan.
Assets under Management
As of December 31, 2023, GrandView managed approximately $ 263,642,772 in assets of which
$259,863,213 are on a discretionary basis.