The mission of OneAscent Financial Services LLC (“OneAscent”), founded in February 2017, is to
provide investment advisory services to clients and their professional advisors through the offering of
managed accounts, proprietary strategies and assistance to other investment advisors. OneAscent is owned
by OneAscent Holdings LLC, which in turn is principally owned by Harry Pearson and Robert Grubb.
Asset Management
Asset management services may be provided on either a “discretionary” or “non-discretionary” basis.
When a client engages the firm to provide asset management services on a discretionary basis, we will
monitor your accounts to ensure that they are meeting your investment objectives. 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, utilizing a separate account (third party) manager or keeping the
proceeds in cash. We may also allocate some or all of your assets to a Unified Managed Account platform
through our advisory affiliate OneAscent Investment Solutions LLC. You may at any time place
reasonable restrictions on the types of investments we may use on your behalf, or on the allocations to
each security type, though such restrictions may limit the potential performance of your portfolio. You
will receive at your request written or electronic confirmations from your account custodian after any
changes are made to your account. You will also receive statements directly 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 a written agreement that
outlines the responsibilities of both the client and the firm.
Asset management services may be provided to client accounts held at a custodian that is not directly
accessible by the firm (“Held Away Accounts”). The firm may, but is not required to, manage these Held
Away Accounts using the Pontera Order Management System that allows the Firm to view and manage
these assets.
Asset management services may be provided to clients by utilizing fee-based annuity and insurance
options via a third-party platform.
In certain limited circumstances, and in the discretion of the firm, a client may engage the firm to provide
investment management services on a non-discretionary basis. This means the firm monitors 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.
Unified Managed Accounts and OneAscent Investment Solutions LLC
Use of Overlay Manager
As mentioned above, we may allocate some or all of your assets to our advisory affiliate, OneAscent
Investment Solutions LLC (“OAIS”), an advisory affiliate of OneAscent. OAIS can create a Unified
Managed Account or “UMA”, which is a single portfolio with a mix of asset classes and investment
positions through the use of model portfolios, which may consist of third party managers, and to a lesser
extent, other investment options such as mutual funds and exchange traded funds. This is accomplished
with the use of an Overlay Manager. The Overlay Managers that OneAscent has selected are Adhesion
Wealth Advisors Solutions (“Adhesion”) and GeoWealth Management LLC (“GeoWealth”), who
provide portfolio trading, re-balancing, reporting and other administrative services. Each UMA is
designed meet a specific goal, while maintaining diversification for the purpose of mitigating short term
risk, and at the same time positioned to appreciate and create income for the investor. UMAs are created
by OAIS and accessed by other advisors (including OneAscent’s advisory teams) for their clients.
OneAscent provides UMA services on a discretionary basis, meaning that you will grant OneAscent
discretionary authority to manage your account through the selection of an Overlay Manager, third party
managers, and other investment options. In addition, you will authorize your account custodian to follow
our instructions as well as instructions given by Adhesion or GeoWealth to effect transactions, deliver
securities, deduct fees and take other actions with respect to your account. We retain the right to replace
any third party manager on discretionary basis. You will not have a direct contractual relationship with
Adhesion or GeoWealth or any other third party manager.
When clients engage OneAscent to provide UMA services, the client and OneAscent will execute an
Investment Management Agreement that describes the services to be provided, the fees for the service,
other expenses related to the provision of the investment management services, and how to terminate the
agreement. Depending on the service a client has selected, OneAscent will separately provide each client
with the applicable disclosure documents for any third party manager or service providers utilized, which
includes information about their services, model portfolios, investment strategies at or before execution
of our Investment Management Agreement.
UMA Services without use of Overlay Manager
Representatives of OAFS will be responsible for the ultimate decisions as to the securities to be bought
and sold in the accounts, as well as the timing of implementation of those decisions. In the event that the
individual investment adviser representative servicing the account utilizes the services of OAIS, that
representative will receive trade “signals”, or trade suggestions, from OAIS and will determine if and
when to implement them. In the event that OAIS sends a trade signal, and the investment adviser
representative does not choose to implement it, or chooses to implement it after some delay, performance
in the accounts will likely differ from performance of the model.
Other Unified Managed Accounts
We may utilize other Unified Managed Accounts or “UMAs”, unaffiliated with OneAscent Investment
Solutions (“OAIS”), consisting of separate account portfolios, in the form of recommendations for
investment portfolio sleeves comprised of: (i) separate account strategies offered by various investment
advisers, (ii) separate account strategies offered through the use of model portfolios, (iii) mutual funds,
and (iv) exchange traded funds (“ETFs”). OneAscent has selected Natixis Advisors, LLC to provide
investment portfolio advisory services to client portfolios. OneAscent has selected Callan, LLC as the
Program Coordinator, to provide certain due diligence for sub-advisors providing investment strategies
for the UMAs.
Tax Overlay Manager Services
For clients who elect, OneAscent offers tax overlay management services as an additional option for
accounts utilizing the UMA Program through an Overlay Manager, Adhesion. Tax overlay management
services are an additional service, and will increase the management fee. Clients are no under no
obligation to elect to receive tax overlay management services. Adhesion will develop a tax strategy for
your account based on the information and instructions provided by us on your behalf. Tax overlay
management services in an investment account offer benefits and limitations, as described below. The
tax strategy developed for you by Adhesion is provided solely in connection with your account and the
Overlay Manager does not provide general tax planning services. If you do elect the tax overlay
management services option, please consider the following:
• The Tax Overlay Manager will implement tax overlay management services based on the
information and instructions provided for your account(s).
• The Tax Overlay Manager does not provide general tax advice, tax return preparation or tax
planning services.
• The Tax Overlay Manager will seek to reduce the overall tax burden of the account while seeking
to maintain the risk and return characteristics of the model portfolios received from Strategists
and/or Managers.
• When providing tax overlay management services to the account, short-term gains are avoided
where possible, but long-term gains are not limited unless you have requested a mandate to limit
realized long-term gains.
The Overlay Manager will provide tax overlay management services with the assumption that the Overlay
Manager will continue to provide services to the account for an entire tax year. The termination or
removal of the overlay management services before the completion of an entire tax year may result in
adverse tax consequences, including without limitation realization of short-term capital gains. Regardless
of your account size or any other factors, we strongly recommend that you continuously consult with a
tax professional prior to and throughout the investing of your assets.
The Tax Overlay Management Services are offered at an additional cost to you.
Advisory Teams
OneAscent works directly with clients through individual investment adviser representatives, who may
work with other representatives providing financial planning and asset management services.
Depending upon the individual professional working with the client, OneAscent may also provide
assistance with debt management or other matters. We are a distinctly biblically based firm, and our goal
is to help clients align their assets with their values.
We provide these advisory services through numerous investment teams. The investment teams that
comprise OneAscent are listed below:
Advisor Team
Name Team Leader
Hampton Square Wealth Management Scott MacKenzie
Sovereign Private Wealth Mike Kuckel & Will Hines
Zahoranski Wealth Management Stacey Zahoranski
JB Stark Financial James Stark
Anthem Advisors Cavett Cooper
Trina Hanner Trina Hanner
Tevebaugh & Associates Mark Tevebaugh
Adventure Financial Suzuanne Foster
2:24 Wealth Group John McDonald
Provident Oak Financial Nelson Negron
Stonebridge Wealth Management Mitch Martin
Navigator Financial Cameron Collier
The Cornerstone Financial Group Mark Morrison
Providence Financial Advisors Brad Nelson
Wealth Stewards Paul Tyers
Tate Financial Partners John Tate
Strategence Capital Tim Stoller
River Oak Financial Ben Craft
Lone Oak Financial Services Ben Wilhelm
Financial Planning
In most cases, the client will supply an OneAscent representative with information including income,
investments, savings, insurance, age, the values the client would like to see advanced as part of their
planning process, and many other items that are helpful to the firm in assessing 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, and work with you to educate you about
household finances and investments.
The plan is intended to be a suggested way to achieve financial goals in keeping with the client’s values.
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.
Tax Preparation
For some clients, OneAscent can arrange for tax preparation services to be completed by a third party
and reviewed by OneAscent. OneAscent’s tax services are designed to make the tax filing process simple
and stress free for each client, while also working to reduce a client’s tax liability on current and future
returns.
Financial Consulting
OneAscent may provide financial consulting services (including investment and non-investment related
matters, including estate planning, retirement planning, tax planning, etc.). Prior to engaging OneAscent
to provide planning or consulting services, clients are generally required to enter into a written agreement
with OneAscent setting forth the terms and conditions of the engagement (including termination),
describing the scope of the services to be provided, and the portion of the fee that is due from the client
prior to OneAscent commencing services.
OneAscent provides investment consulting services to certain broker/dealers’ customers (“Brokerage
Customers”) who provide written consent requesting to receive OneAscent’s consulting services.
Brokerage Customers have entered into a written consulting agreement with OneAscent.
Seminars and Educational Workshops
OneAscent also provides information and guidance on general finance, retirement, and charitable giving
issues for our clients and the public. We do not charge for these seminars.
Services to Employer Sponsored Retirement Plans
OneAscent provides investment advisory services to qualified plans. While linked to investments and
investment advice, consulting to pension plans can involve a great deal more than selecting investments.
OneAscent offers two approaches to its ERISA clients: investment option selection and full pension
consulting.
Back-Office Services
OneAscent provides back-office services to registered investment advisory firms and individual
investment adviser representatives. Back-office services include, but are not limited to, account servicing,
billing, trade execution, and reporting.
Participant Directed Retirement Plan ERISA Investment Fiduciary Services
As a Plan Sponsor, you may want to appoint a qualified investment firm to serve as the named Investment
Fiduciary for your Plan to minimize your fiduciary responsibility regarding the investments available to
your plan participants. OAFS may serve as the named Investment Fiduciary to a qualified retirement plan
which may include being an “investment manager” within the meaning of ERISA Section 3(38) and a
“fiduciary” within the meaning of ERISA Section 3(21). OAFS will acknowledge our fiduciary status
and duties in writing. The primary clients for these services will be pension, profit sharing, 403(b), and
401(k) plans that provide for participant directed investments. ERISA Investment Fiduciary Services are
comprised of three distinct services. Clients may choose to use any or all of these services.
The Investment Fiduciary shall have the following discretionary authority and responsibility:
• To manage the investment of the Trust Fund using only the investment options available through
the recordkeeper, products, and/or platforms chosen by Plan Sponsor;
• To appoint and remove one or more investment managers;
• To establish, revise from time to time, and communicate to the Trustee and/or Investment
Manager(s), assist in building and investment policy for the Plan. We will meet with your and/or
your plan committee (in person or over the telephone) to determine an appropriate investment
strategy that reflects the Plan Sponsor’s stated investment objectives for management of the
overall plan. Our firm then prepares a written IPS detailing those needs and goals, including an
encompassing policy under which these goals are to be archived. The IPS also lists the criteria
for selection of investment vehicles as well as the procedures and timing interval for monitoring
of investment performance.
Schwab Performance Technologies Institutional Intelligent Portfolios
We offer an automated investment program (the “Program”) through which clients are invested in a range
of investment strategies we have constructed and manage, each consisting of a portfolio of exchange-
traded funds and mutual funds (“Funds”) and a cash allocation. The client may instruct us to exclude up
to three Funds from their portfolio. The client’s portfolio is held in a brokerage account opened by the
client at Charles Schwab & Co., Inc. (“CS&Co”). We use the Institutional Intelligent Portfolios® platform
(“Platform”), offered by Schwab Performance Technologies (“SPT”), a software provider to independent
investment advisors and an affiliate of CS&Co., to operate the Program. We are independent of and not
owned by, affiliated with, or sponsored or supervised by SPT, CS&Co., or their affiliates (together,
“Schwab”). We, and not Schwab, are the client’s investment adviser and primary point of contact with
respect to the Program. We are solely responsible, and Schwab is not responsible, for determining the
appropriateness of the Program for the client, choosing a suitable investment strategy and portfolio for
the client’s investment needs and goals, and managing that portfolio on an ongoing basis. We have
contracted with SPT to provide us with the Platform, which consists of technology and related trading and
account management services for the Program. The Platform enables us to make the Program available to
clients online and includes a system that automates certain key parts of our investment process (the
“System”). Based on the information the client provides to us, we will recommend a portfolio via the
System. The client may then indicate an interest in a portfolio that is one level less or more conservative
or aggressive than the recommended portfolio, but we then make the final decision and select a portfolio
based on all the information we have about the client. The System also includes an automated investment
engine through which we manage the client’s portfolio on an ongoing basis through automatic rebalancing
and tax-loss harvesting (if the client is eligible and elects). We charge clients a fee for our services as
described below under Item 5 Fees and Compensation. Our fees are not set or supervised by Schwab.
Clients do not pay brokerage commissions or any other fees to CS&Co. as part of the Program. Schwab
does receive other revenues, including (i) the profit earned by Charles Schwab Bank, SSB, a Schwab
affiliate, on the allocation of the Schwab Intelligent Portfolios Sweep Program described in the Schwab
Intelligent Portfolios Sweep Program Disclosure Statement; (ii) investment advisory and/or
administrative service fees (or unitary fees) received by Charles Schwab Investment Management, Inc., a
Schwab affiliate, from Schwab ETFs™ , Schwab Funds®, and Laudus Funds® that we select to buy and
hold in the client’s brokerage account; (iii) fees received by Schwab from mutual funds in the Schwab
Mutual Fund Marketplace® (including certain Schwab Funds and Laudus Funds) in the client’s brokerage
account for services Schwab provides, and (iv) remuneration Schwab receives from the market centers
where it routes ETF trade orders for execution.
Assets Under Management
As of December 31, 2023, OneAscent had $1,788,648,397 in assets under management across 7,877
accounts. OneAscent also provides consulting services giving OneAscent $181,560,307 in assets under
advisement.