AWM is an independent advisory firm offering comprehensive financial advice and retirement planning
through in-house asset management and the Firm’s Total Wealth Organization (“T.W.O.”). Prior to rendering
such services, clients are required to enter into one or more written agreements setting forth the terms of the
advisory relationship (the “Advisory Agreement”).
The Firm filed for registration in November 2017 and is principally owned by The Gerst Family Trust, The
Satz 1993 Trust and Jones Taslitz Living Trust. As of December 31, 2023, AWM managed assets of
$996,960,303 on a discretionary basis and $0 on a non-discretionary basis. Assets under advisement are assets
on which a firm provides advice or consultation but for which a firm does not have discretionary authority or
does not arrange or effectuate transactions. AWM also has assets under advisement totaling $170,878,402.
As of August 16, 2019, the Firm began providing investment management services to an affiliated private
fund, Avitas Capital Private Equity Access 2019 Fund, LP (the “Access Fund”). AWM is the general partner
of the Access Fund and manages the underlying fund allocation on a discretionary basis in accordance with its
offering and organizational documents. The Firm may recommend that certain qualified clients consider an
investment in private funds/offerings; clients are under no obligation to do so. Private fund investors must
complete a Subscription Agreement or similar application, pursuant to which the client shall establish that
he/she is qualified for investment in the fund and acknowledges and accepts the various risks associated with
such an investment. Please see Item 8 for more information on these risks.
As of August 18, 2020, the principals of AWM became owners of Avitas Capital Management, LLC, a newly
formed Investment Advisor to a new fund offering, Avitas Capital Ascent Fund, LP (“Ascent Fund”).
Effective August 18, 2020, the principals also became owners of Avitas Capital Partners, LLC, the general
partner of the Ascent Fund. Additional information about the relationship of AWM to Avitas Capital
Management, LLC, Avitas Capital Partners, LLC and Avitas Capital Ascent Fund, LP can be found in further
sections of this brochure.
While this brochure generally describes the business of the Firm, certain sections also discuss the activities of
its Supervised Persons, which refer to the Firm’s officers, partners, directors (or other persons occupying a
similar status or performing similar functions), employees or any other person who provides investment
advice on AWM’s behalf and is subject to its supervision or control.
Financial Planning and Consulting Services
The Firm offers a range of financial planning and consulting services which may include:
• Business Planning
• Retirement Planning
• Cash Flow Forecasting
• Financing Planning and Availability
• Trust and Estate Planning
• Charitable Planning
• Financial Reporting
• Tax Planning
• Insurance Planning
• Education Planning
The Firm is not required to verify information received from the client or the client’s other professionals (e.g.,
attorneys, accountants, etc.), and is expressly authorized to rely on such information. AWM may recommend
additional services that its Supervised Persons, in their individual capacities as insurance agents, and/or other
professionals, would implement; a conflict of interest exists for the Firm to recommend that clients engage
AWM or its affiliates to provide (or continue to provide) additional services for compensation. Clients retain
absolute discretion over all decisions regarding implementation and are under no obligation to act upon any
recommendations made by AWM under a financial planning or consulting engagement. Clients must notify
the Firm of any change in their financial situation or investment objectives.
Wealth Management Services
The Firm provides wealth management services, which include financial planning and consulting services, as
well as discretionary management of investment portfolios. Client assets are generally allocated among
individual debt and equity securities, various mutual funds, exchange-traded funds (“ETFs”), options and
annuities in accordance with their stated investment objectives.
Where appropriate, the Firm may provide
advice regarding legacy positions or other investments in client
portfolios. Clients can engage AWM to manage and/or advise on certain investments that are not maintained
at their primary custodian, such as variable life insurance and annuity contracts, assets held in employer
sponsored retirement plans and qualified tuition plans (i.e., 529 plans); in these situations, AWM recommends
the allocation of assets among the options available with the product. Such assets are generally maintained at
the underwriting insurance company or the custodian designated by the product’s provider.
The Firm tailors its advisory services to the needs of individual clients and seeks to ensure, on a continuous
basis, that client portfolios are managed in a manner consistent with those needs. AWM consults with clients
on an initial and ongoing basis to assess their specific risk tolerance, time horizon, liquidity constraints and
other factors relevant to the management of their portfolios. Clients are advised to promptly notify the Firm if
there are changes in their financial situation. Clients can impose reasonable restrictions on their accounts if
AWM determines, in its sole discretion, the conditions would not materially impact performance or prove
overly burdensome to the Firm’s management efforts.
Sponsor and Manager of Wrap Program
AWM provides substantially all investment management services as the sponsor and manager of the Avitas
Wealth Management Wrap Program (the “Program”). A wrap fee program is an arrangement under which
clients receive investment advisory services (such as portfolio management or advice concerning the selection
of other investment advisers) and execution of client transactions for a specified fee or fees not based upon
transactions in their accounts. Participants in the Program may pay a higher aggregate fee than if investment
management and brokerage services are purchased separately. Accounts managed through the Program are
done so in substantially the same manner as those managed under a non-wrap arrangement. Additional
information is available in AWM’s Wrap Brochure, which appears as Part 2A Appendix of the Firm’s Form
ADV (the “Wrap Brochure”).
Retirement Plan Consulting Services
The Firm provides consulting services to qualified employee benefit plans and their fiduciaries, designed to
assist plan sponsors in structuring and managing their corporate retirement plans. Each engagement is
individually negotiated and customized, and may include:
• Plan Design and Strategy
• Plan Fee and Cost Analysis
• Plan Review and Evaluation
• Plan Committee Consultation
• Executive Planning & Benefits
• Fiduciary and Compliance
• Investment Selection
• Participant Education
As disclosed in the Advisory Agreement, certain of the foregoing services are provided by AWM as a
fiduciary under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). In
accordance with ERISA Section 408(b)(2), each plan sponsor is provided with a written description of
AWM’s fiduciary status, the specific services to be rendered and all direct and indirect compensation the Firm
reasonably expects under the engagement.
Access Fund Management
As investment adviser to the Access Fund, the Firm participates in the structuring, management, monitoring
and disposition of investments for the Access Fund.
Guidelines for investment are contained in each fund’s governing documents, which are provided to the
limited partners of each such fund. Prior to making an investment in the Access Fund, the limited partners
review the governing documents. Limited partners do not have any control over the operation or management
of the Access Fund or discretion over when capital is drawn or which and how investments are made.
Pursuant to an Advisory Agreement with the Access Fund, the Firm provides discretionary investment
advisory services and has authority to decide which investments to purchase and sell for the Access Fund.
While AWM does not manage the underlying funds or make investment decisions on their behalf, it does
ensure that the underlying funds participate in and exit investments alongside the Access Fund on the
programmatic, fixed basis to which they are subject and on substantially the same investment terms and
conditions as the Access Fund.