A. Description of the Advisory Firm
WealthUnite Advisors LLC. (“WealthUnite” or “we”) is a Delaware Limited Liability Company
formed in October 2016 and registered as an investment adviser with the United States Securities
and Exchange Commission in December 2018. Eric DiAndrea is WealthUnite’s principal owner,
Founder, Managing Member, and Chief Compliance Officer.
WealthUnite’s advisory clients generally include, but are not limited to:
1. United Kingdom (“U.K.”) expatriates residing in the United States (“U.S.”). who have
pension assets and other assets located overseas; and
2. U.S. residents with investable assets and are looking for U.S. based investment advice.
B. Types of Advisory Services
Investment Advisory Services
Clients can engage WealthUnite to manage all or a portion of their investment assets on a non-
discretionary basis. Before engaging with WealthUnite to provide investment advisory services,
clients are required to enter into one or more written agreements setting forth the terms and
conditions of the engagement, describing the scope of the services to be provided, and the fee
that is due from the client. WealthUnite provides non-discretionary investment advisory services
specifically tailored to each client’s specific needs based on various factors including, but not
limited the individual’s age, income, need for cash flow, investment goals, investment time
horizons, liabilities, and risk tolerance. WealthUnite consults with clients initially and on an
ongoing basis to address those issues and any developments that may affect investment goals
and strategies.
To begin the investment advisory engagement, WealthUnite collects client information during
meetings, interviews, and by the completion of a “fact find” that assesses clients’ personal
financial situation. WealthUnite’s investment adviser representatives (“IARs”) then analyze the
client’s financial situation and formulates a suitability report, which outlines the client’s current
financial situation and recommends an investment strategy using a combination of customized
investments.
WealthUnite’s investment advisory services primarily focus on the use of international pension
schemes, described below, and the allocation of client assets among mutual funds, exchange-
traded funds (“ETFs”), individual debt and equity securities, Undertakings for Collective
Investment in Transferable Securities (“UCITS”), currency, and other investments, consistent with
the investment objectives each client’s investment objectives. The clients’ financial situation is
documented in the suitability report and fact find, which is delivered to the client before execution
of any advisory agreements with WealthUnite. The fact find is reviewed at least annually
WealthUnite seeks to provide that investment decisions are made in accordance with the fiduciary
duties owed to its accounts and without consideration of WealthUnite’s economic, investment or
other financial interests. To meet its fiduciary obligations, WealthUnite attempts to avoid, among
other things, investment or trading practices that systematically advantage or disadvantage
certain client portfolios, and accordingly, WealthUnite’s policy is to seek fair and equitable
allocation of investment opportunities and transactions among its clients to avoid favoring one
client over another over time. It is WealthUnite’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.
WealthUnite's annual investment advisory fee compensates for investment management services
and limited financial planning / goal planning services that are ancillary to the investment
management process. There is no additional cost associated with the financial planning / goal
planning services, which may address for example: cash flow, retirement needs, asset allocation
consulting, educational funding, tax efficiency, charitable gifting, estate considerations,
risk/insurance management, wealth transfer, and other special needs. WealthUnite provides
these services as appropriate during the investment advisory process but is not obligated to
provide these services with any regularity or according to a set schedule unless specifically
agreed with the client.
International Pensions
WealthUnite’s primary business model focuses on ongoing advice of existing international
pension plans or implementing and providing ongoing advice with respect to their U.K. pension
plans. WealthUnite also advises clients on the investments held within the aforementioned plans.
In this respect, WealthUnite gathers financial information, goals, and objectives from the clients
and reviews the clients’ pension assets. Upon completion of the review, WealthUnite will provide
analysis, explanation, and recommendations about the current pension plan, suitability, and
options available to the clients.
Upon client authorization, WealthUnite will request a statement of benefit from the clients’ existing
U.K. pension plan administrator or trustee. If suitable, with the relevant permissions for the
transfer of Safe Guarded Benefits and in the clients’ best interest, WealthUnite will assist with a
transfer of pension assets to an alternative option discussed below.
1. Qualifying Recognized Overseas Pension Scheme (“QROPS”)
Due to a legislative change by the U.K. Government in March 2017 imposing a 25% overseas
transfer tax charge of the total value of the pension on certain new QROPS transfers,
WealthUnite has determined not to accept or advise any new advisory business from persons
residing in the U.S. who seek to transfer their U.K. pension, or any other assets, to a QROPS.
WealthUnite provides investment advisory services to clients who have existing QROPS
arrangements in regard to the ongoing investments held within these plans.
2. Self-Invested Personal Pension (“SIPP”)
Subject to suitability, WealthUnite may recommend that clients transfer their U.K. pension
assets to a Self Invested Personal Pension (“SIPP”), which is a type of U.K. based personal
pension plan offered by third party providers.
A SIPP holds investments until the member decides to draw income from the account. It is a
type of personal pension and works in a similar way to a standard personal pension. The main
difference is that with a SIPP, the member has more flexibility with the investments.
A SIPP, subject to any applicable restrictions and allows clients to invest in a range of assets.
The value of retirement benefits is determined by, among other things, (i) the amount of
contributions made, (ii) the period that each contribution has been invested, and (iii)
investment performance over the period.
All QROPS and SIPP accounts are held by registered third-party pension trustees (registered with
the relevant financial services regulator where the pension plan is held) and subject to the terms
and conditions of a separate agreement between the clients and the third-party pension trustees.
Pension assets are typically held custody by the agreed upon custodian and subject to the terms
and conditions of a separate management agreement between the clients’ pension trustee and
the custodian. Clients are strongly encouraged to review the agreement between the pension
trustee and the custodian and other disclosure materials (like Terms and Conditions, Fee
Schedules, and Key Features documents) provided by the pension trustee and the custodian for
a full understanding of the services provided and any associated costs therein. WealthUnite’s
IARs are required to provide clients with these relevant documents prior to or at the time of clients’
signing any investment advisory agreements.
QROPS and SIPP statements are generally sent to clients on a quarterly basis (unless requested
more frequently) by WealthUnite. QROPS and SIPP statements are generally sent to the clients
on an annual basis directly from the selected pension trustee, the custodian of record, and/or any
others similarly involved with the clients’ pension plan. clients are encouraged to review such
material carefully for a complete understanding of the services offered and the costs associated
with the management of such pension plans. The pension trustees and custodians may also make
account information available online to clients through the investment platforms utilized in
connection with QROPS and SIPP arrangements. clients are encouraged to review such material
carefully for more information about the services offered by the pension trustees, the costs
associated with the management of such pension plans, and the activity in their accounts.
WealthUnite does not provide any tax advice including, without limitation, in relation to any U.S.
tax reporting
requirements and/or other tax implications arising in relation to clients’ pension
transfers. Although, from time to time, WealthUnite may inform clients of tax developments,
WealthUnite recommends that clients seek their own tax advice, including advice on procedures
under tax treaties between the U.S. and the U.K. (or other applicable jurisdiction) for the
avoidance of double taxation on their respective pension arrangements.
Miscellaneous
Non-Discretionary Service Limitations - Because it is engaged on a non-discretionary basis,
WealthUnite cannot execute any account transactions without obtaining the client’s prior consent
to the transactions. Therefore, if WealthUnite would like to make a transaction for a client’s
account (including removing a security that WealthUnite no longer believes is appropriate or
adding a security that WealthUnite believes is appropriate), and the client is unavailable,
WealthUnite will be unable to execute the account transactions (as it would for its discretionary
clients) without first obtaining the client’s consent. This may place affected clients at an economic
disadvantage.
Limitations of Financial Planning / Goal Planning Services - Neither WealthUnite, nor any of
its representatives, serves as an attorney, accountant, or licensed insurance agent, and no portion
of WealthUnite’s services should be construed as legal, accounting, or insurance implementation
services. Accordingly, WealthUnite does not prepare estate planning or any other legal
documents, tax returns or sell insurance products. Unless specifically agreed in writing, neither
WealthUnite nor its representatives are responsible to implement any financial planning or goal
planning advice; provide ongoing financial planning or goal planning services; or provide ongoing
monitoring of financial planning or goal planning advice. To the extent requested by a client,
WealthUnite may recommend the services of other professionals for certain non-investment
implementation purposes (i.e., attorneys, accountants, insurance agents, etc.). Clients are under
no obligation to engage the services of any recommended professional, who will be solely
responsible for the quality and competency of the services they provide. The client retains
absolute discretion over all financial planning or goal planning implementation decisions and is
free to accept or reject any recommendation from WealthUnite and its representatives in that
respect. If the client engages any unaffiliated recommended professional, and a dispute arises
related to the engagement, the client should seek recourse exclusively from and against the
engaged professional.
Retirement Plan Rollovers – No Obligation/Conflict of Interest- A client or prospective client
leaving an employer typically has four options regarding an existing retirement plan (and may
engage in a combination of these options): (i) leave the money in the former employer’s plan, if
permitted, (ii) roll over the assets to the new employer’s plan, if one is available and rollovers are
permitted, (iii) roll over to an Individual Retirement Account (“IRA”), or (iv) cash out the account
value (which could, depending upon the client’s age, result in adverse tax consequences). If
WealthUnite recommends that a client roll over their retirement plan assets into an account to be
managed by WealthUnite, such a recommendation creates a conflict of interest if WealthUnite will
earn a new (or increase its current) advisory fee as a result of the rollover. No client is under any
obligation to roll over retirement plan assets to an account managed by WealthUnite.
Portfolio Trading Activity / Inactivity - As part of its investment advisory services, WealthUnite
will review client portfolios on an ongoing basis to determine if any trades are necessary based
upon various factors, including but not limited to investment performance, fund manager tenure,
style drift, account additions/withdrawals, the client’s financial circumstances, and changes in the
client’s investment objectives. Based upon these and other factors, there may be extended
periods when WealthUnite determines that upon review, trades within a client’s portfolio are not
prudent. Clients nonetheless remain subject to the fees described in Item 5 during periods of
portfolio trading inactivity.
ERISA / IRC Fiduciary Acknowledgment - When WealthUnite provides investment advice to a
client about the client’s retirement plan account or individual retirement account, it does so as a
fiduciary within the meaning of Title I of the Employee Retirement Income Security Act (“ERISA”)
and/or the Internal Revenue Code (“IRC”), as applicable, which are laws governing retirement
accounts. Because way WealthUnite makes money creates some inherent conflicts with client
interests, WealthUnite operates under a special rule that requires it to act in the client’s best
interest and not put its interests ahead of the client’s. Under this special rule’s provisions,
WealthUnite must: meet a professional standard of care when making investment
recommendations (give prudent advice); never put its financial interests ahead of the client’s when
making recommendations (give loyal advice); avoid misleading statements about conflicts of
interest, fees, and investments; follow policies and procedures designed to ensure that
WealthUnite gives advice that is in the client’s best interest; charge no more than is reasonable
for WealthUnite’s services; and give the client basic information about conflicts of interest.
Client Obligations – When performing its services, WealthUnite is not required to verify any
information received from the client or from the client’s other professionals and is expressly
authorized to rely on that information. Clients maintain responsibility to promptly notify
WealthUnite if there is ever any change in their financial situation or investment objectives for the
purpose of reviewing, evaluating, or revising WealthUnite’s previous recommendations or
services.
Asset Aggregation / Reporting Services - WealthUnite may provide access to reporting
services through one or more third-party aggregation / reporting platforms that can reflect all of
the client’s investment assets, including those investment assets that the client has not engaged
WealthUnite to manage (the “Excluded Assets”). WealthUnite’s service for the Excluded Assets
is strictly limited to reporting, and specifically excludes investment management or
implementation. Because WealthUnite does not have trading authority for the Excluded Assets,
the client (and/or another investment professional), and not WealthUnite, will be exclusively
responsible for directly implementing any recommendations for the Excluded Assets. Further, the
client and their other advisors that maintain trading authority, and not WealthUnite, will be
exclusively responsible for the investment performance or related activity (such as timing and
trade errors) pertaining to the Excluded Assets. The third-party aggregation / reporting platforms
may also provide access to financial planning information and applications, which should not be
construed as services, advice, or recommendations provided by WealthUnite. Accordingly,
WealthUnite will not be held responsible for any adverse results a client may experience if the
client engages in financial planning or other functions available on the third-party reporting
platforms without WealthUnite’s participation or oversight.
C. Client Tailored Services and Client-Imposed Restrictions
WealthUnite offers the same suite of services to all of its clients. However, specific client
investment strategies and their implementation are dependent upon the client’s current situation
(income, and risk tolerance levels). 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 WealthUnite from properly servicing the client account, or if the restrictions
would require WealthUnite to deviate from its standard suite of services, WealthUnite reserves
the right to end the relationship.
D. Wrap Fee Programs
WealthUnite does not participate in any wrap fee programs, which are investment programs in
which the investor pays one stated fee that includes management fees, transaction costs, fund
expenses, and other administrative fees.
E. Assets Under Management
WealthUnite has the following assets under management:
Discretionary
Amounts:
Non-discretionary
Amounts:
Number of
clients
Date Calculated:
$0 $47,443,671 47 31 December 2023
Assets under management are valued by third-party custodians.