A. Firm Information
Graham Capital Wealth Management, LLC (“Graham” or the “Advisor”) is a registered investment advisor with
the U.S. Securities and Exchange Commission (“SEC”). Graham is organized as a Limited Liability Company
(“LLC”) under the laws of Delaware and was founded in August 2015. Graham is an owned subsidiary of SSA
Holding Company, LLC, an entity controlled by Stash Graham. SSA Holding Company, LLC is also indirectly
controlled by Graham Capital Holdings, LLC (“Graham Capital Holdings”), an entity controlled by David Graham.
Graham is operated by Stash J. Graham (Principal and Managing Director).
This Disclosure Brochure provides information regarding the qualifications, business practices, and the advisory
services provided by Graham. For more information regarding this Disclosure Brochure, please contact Stash
Graham (Managing Director and Chief Compliance Officer) (202) 780-7726.
B. Advisory Services Offered
Graham offers investment advisory services to individuals, high net worth individuals, trusts, and estates(each
referred to as a “Client”).
The Advisor serves as a fiduciary to Clients, as defined under the applicable laws and regulations. As a
fiduciary, the Advisor upholds a duty of loyalty, fairness, and good faith towards each Client and seeks to
mitigate potential conflicts of interest. Graham’s fiduciary commitment is further described in the Advisor’s Code
of Ethics. For more information regarding the Code of Ethics, please see Item 11 – Code of Ethics, Participation
or Interest in Client Transactions and Personal Trading.
Wealth Management Services
Graham provides wealth management services for its Clients. These services generally include a broad range of
comprehensive financial planning in connection with discretionary investment management of Client portfolios.
These services are described below.
Investment Management Services – Graham provides customized investment advisory solutions for its Clients.
This is achieved through continuous personal Client contact and interaction while providing discretionary
investment management and related advisory services. Graham works closely with each Client to identify their
investment goals and objectives as well as risk tolerance and financial situation in order to create a portfolio
strategy. Graham will then construct an investment portfolio consisting of low-cost, diversified mutual funds
and/or exchange-traded funds (“ETFs”) to achieve the Client’s investment goals. The Advisor may also utilize
individual stocks or bonds to meet the needs of its Clients. The Advisor may retain certain legacy investments
based on portfolio fit and/or tax considerations.
Graham’s investment approach is primarily long-term focused, but the Advisor may buy, sell or re-allocate
positions that have been held for less than one year to meet the objectives of the Client or due to market
conditions. Graham will construct, implement and monitor the portfolio to ensure it meets the goals, objectives,
circumstances, and risk tolerance agreed to by the Client. Each Client will have the opportunity to place
reasonable restrictions on the types of investments to be held in their respective portfolio, subject to acceptance
by the Advisor.
Graham evaluates and selects investments for inclusion in Client portfolios only after applying its internal due
diligence process. Graham may recommend, on occasion, redistributing investment allocations to diversify the
portfolio. Graham may recommend specific positions to increase sector or asset class weightings. The Advisor
may recommend employing cash positions as a possible hedge against market movement. Graham may
recommend selling positions for reasons that include but are not limited to harvesting capital gains or losses,
business or sector risk exposure to a specific security or class of securities, overvaluation or overweighting of
the position[s] in the portfolio, change in risk tolerance of the Client, generating cash to meet Client needs, or
any risk deemed unacceptable for the Client’s risk tolerance.
Retirement Accounts – When the Advisor provides investment advice to Clients regarding ERISA retirement
accounts or individual retirement accounts (“IRAs”), the Advisor is 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. When deemed to be in the Client’s best interest, the Advisor will
provide investment advice to a Client regarding a distribution from an ERISA retirement
account or to roll over
the assets to an IRA or recommend a similar transaction including rollovers from one ERISA sponsored Plan to
another, one IRA to another IRA, or from one type of account to another account (e.g., commission-based
account to fee-based account). Such a recommendation creates a conflict of interest if the Advisor earns a new
(or increases its current) advisory fee as a result of the transaction. No client is under any obligation to roll over
a retirement account to an account managed by the Advisor.
At no time will Graham accept or maintain custody of a Client’s funds or securities, except for the limited
authority as outlined in Item 15 – Custody. All Client assets will be managed within their designated account[s]
at the Custodian, pursuant to the terms of the investment advisory agreement. For additional information, please
see Item 12 – Brokerage Practices.
Financial Planning Services – Graham will typically provide a variety of financial planning and consulting
services to Clients pursuant to a written financial planning agreement. Services are offered in several areas of a
Client’s financial situation, depending on their goals and objectives. Generally, such financial planning services
involve preparing a formal financial plan or rendering a specific financial consultation based on the Client’s
financial goals and objectives. This planning or consulting may encompass one or more areas of need, including
but not limited to investment planning, retirement planning, personal savings, education savings, insurance
needs, and other areas of a Client’s financial situation.
A financial plan developed for or financial consultation rendered to the Client will usually include general
recommendations for a course of activity or specific actions to be taken by the Client. For example,
recommendations may be made that the Client start or revise their investment programs, commence or alter
retirement savings, establish education savings and/or charitable giving programs.
Graham may also refer Clients to an accountant, attorney, or other specialists, as appropriate for their unique
situation. For certain financial planning engagements, the Advisor will provide a written summary of the Client’s
financial situation, observations, and recommendations. For consulting or ad-hoc engagements, the Advisor
may not provide a written summary. Plans or consultations are typically completed within six (6) months of the
contract date, assuming all information and documents requested are provided promptly.
Financial planning and consulting recommendations pose a conflict between the interests of the Advisor and the
interests of the Client. For example, the Advisor has an incentive to recommend that Clients engage the Advisor
for investment management services or to increase the level of investment assets with the Advisor, as it would
increase the amount of advisory fees paid to the Advisor. Clients are not obligated to implement any
recommendations made by the Advisor or maintain an ongoing relationship with the Advisor. If the Client elects
to act on any of the recommendations made by the Advisor, the Client is under no obligation to implement the
transaction through the Advisor.
C. Client Account Management
Prior to engaging Graham to provide investment advisory services, each Client is required to enter into one or
more agreements with the Advisor that define the terms, conditions, authority, and responsibilities of the Advisor
and the Client. These services may include:
• Establishing an Investment Strategy – Graham, in connection with the Client, will develop a strategy that
seeks to achieve the Client’s goals and objectives.
• Asset Allocation – Graham will develop a strategic asset allocation that is targeted to meet the
investment objectives, time horizon, financial situation, and tolerance for risk for each Client.
• Portfolio Construction – Graham will develop a portfolio for the Client that is intended to meet the stated
goals and objectives of the Client.
• Investment Management and Supervision – Graham will provide investment management and ongoing
oversight of the Client’s investment portfolio.
D. Wrap Fee Programs
Graham does not manage or place Client assets into a wrap fee program. Investment management services are
provided directly by Graham.
E. Assets Under Management
As of December 31, 2023, Graham manages $195,720,000 in Client assets, all of which are managed on a
discretionary basis. Clients may request more current information at any time by contacting the Advisor.