Overview
A. Description of the Advisory Firm
Transparent Wealth Consulting LLC (hereinafter “TWCL”) is a Limited Liability
Company organized in the State of New York. The firm was formed in January 2016, and
the principal owner is Colleen Fitzpatrick Knapp.
B. Types of Advisory Services
Portfolio Management Services
TWCL offers ongoing portfolio management services based on the individual goals,
objectives, time horizon, and risk tolerance of each client. TWCL creates an Investment
Policy Statement for each client, which outlines the client’s current situation (income, tax
levels, and risk tolerance levels) and then constructs a plan to aid in the selection of a
portfolio that matches each client's specific situation. Portfolio management services
include, but are not limited to, the following:
• Investment strategy • Personal investment policy
• Asset allocation • Asset selection
• Risk tolerance • Regular portfolio monitoring
TWCL evaluates the current investments of each client with respect to their risk tolerance
levels and time horizon. TWCL will request discretionary authority from clients in order
to select securities and execute transactions without permission from the client prior to
each transaction. Risk tolerance levels are documented in the Investment Policy
Statement, which is given to each client.
TWCL seeks to provide that investment decisions are made in accordance with the
fiduciary duties owed to its accounts and without consideration of TWCL’s economic,
investment or other financial interests. To meet its fiduciary obligations, TWCL attempts
to avoid, among other things, investment or trading practices that systematically
advantage or disadvantage certain client portfolios, and accordingly, TWCL’s policy is to
seek fair and equitable allocation of investment opportunities/transactions among its
clients to avoid favoring one client over another over time. It is TWCL’s policy to allocate
investment opportunities and transactions
it identifies as being appropriate and prudent
among its clients on a fair and equitable basis over time.
Pension Consulting Services
TWCL offers ongoing consulting services to pension or other employee benefit plans
(including but not limited to 401(k) plans) based on the demographics, goals, objectives,
time horizon, and/or risk tolerance of the plan’s participants.
Services Limited to Specific Types of Investments
TWCL generally limits its investment advice to mutual funds, fixed income securities,
insurance products including annuities, equities, ETFs, treasury inflation
protected/inflation linked bonds and non-U.S. securities. TWCL may use other securities
as well to help diversify a portfolio when applicable.
C. Client Tailored Services and Client Imposed Restrictions
TWCL will tailor a program for each individual client. This will include an interview
session to get to know the client’s specific needs and requirements as well as a plan that
will be executed by TWCL on behalf of the client. TWCL may use “model portfolios”
together with a specific set of recommendations for each client based on their personal
restrictions, needs, and targets. Clients may impose restrictions in investing in certain
securities or types of securities in accordance with their values or beliefs. However, if the
restrictions prevent TWCL from properly servicing the client account, or if the restrictions
would require TWCL to deviate from its standard suite of services, TWCL reserves the
right to end the relationship.
D. Wrap Fee Programs
A wrap fee program is an investment program where the investor pays one stated fee that
includes management fees, transaction costs, fund expenses, and other administrative
fees. TWCL does not participate in any wrap fee programs.
E. Assets Under Management
TWCL has the following assets under management:
Discretionary Amounts: Non-discretionary Amounts: Date Calculated:
$ 41,446,022 $0.00 December 2023