A. Business Commencement Date
Pioneer Family Office, LLC (“PFO”) (formerly known as Triple 5 Wealth Management,
L.L.C.) was organized in Florida in May of 2005 to offer investment management services.
B. Ownership
PFO is wholly owned by Pioneer Administrative Services Limited (PASL), a limited
company established in 1988 under the laws of Israel. PASL is wholly owned by Pioneer
International Limited, which in turn is wholly owned by the Indigo International Group
Limited. Collectively, we refer to these companies and their affiliates as The Pioneer
Group. PFO also uses the brand name “Pioneer Wealth Management.” The use of this
brand name is shared among PFO and certain of its affiliates.
C. Services
INVESTMENT ADVISORY SERVICES. Generally, Investment Advisory Services require a
minimum account value of US$3,000,000, although the account minimum can be
lowered. For each client relationship, services include, but are not limited to, asset
allocation analysis, portfolio monitoring, and securities selection. We ask the client to
provide us with certain investment and financial profile information. From this
information, we help the client determine investment objectives, risk tolerances, liquidity
needs, and investment time horizons. The client opens a brokerage account with a
broker/dealer (unless a brokerage account has already been established). Clients are free
to select the financial institutions that custody their assets. We will recommend one or
more financial institutions upon a client’s request. We do not receive any compensation
from these financial institutions for recommendations made. Once the brokerage
account is funded, on an ongoing basis during the term of the advisory agreement, we
select the securities in which the client’s assets will be invested. The advisory agreement
signed by the client gives us the authority to buy, sell, and trade the securities in the
client’s account. We manage the account on a discretionary basis, which means that we
buy and sell securities without asking the client’s permission for each transaction.
Securities selection is based on our analysis of the client’s financial situation, needs, and
objectives. For these clients, we prepare consolidated reports on a monthly basis. If a
client directs us to include on these reports data about accounts we don’t manage, no
inference should be drawn that we serve as the adviser on such accounts.
We also manage, on a discretionary basis, accounts having a significantly lower aggregate
value than the US$3,000,000 accounts described above. In these cases, the aggregate
account minimum is generally US$250,000, although this minimum can be negotiated.
For these accounts, the client opens (or already has) an account with Envestnet (which is
an adviser that is not affiliated with us) by entering into a separate agreement with
Envestnet. Envestnet offers various model portfolios. We assist the client in determining
the model portfolio best suited for the client. Once the client is invested in the selected
model, we utilize Envestnet’s platform for the management of the account’s assets.
Transactions
are cleared and settled by Pershing and Pershing is the custodian for the
Envestnet client accounts. We monitor the performance of the investments and ensure
the investment style of the model portfolio remains aligned with the client’s investment
goals and objectives. We are authorized to select new investment models on the
Envestnet platform consistent with the client’s investment objectives. If we determine
that no change in model portfolios is warranted, the client’s monies will remain in the
selected portfolio. The advisory fees you pay to us do not cover Envestnet’s or Pershing’s
fees. See Item 5B below for more information.
NON-DISCRETIONARY SERVICES. We also manage accounts on a non-discretionary basis.
In other words, we monitor and review an account and make securities recommendations
to the client, which are based on the client’s financial and investment profile, but it is up
to the client to decide whether to accept or reject our recommendations. If the client
accepts our recommendations, the client is responsible for arranging for the transactions
in the account. We will not arrange for the trades with the custodian unless the client
specifically authorizes us to do so.
ALL ACCOUNTS. Whether the client is receiving discretionary services or non-
discretionary services, we encourage the client to notify us of any changes in financial
situation, investment objectives or needs as such changes occur. We contact each client
periodically, as agreed upon with the client, but at least annually, to review the client’s
financial situation and objectives. For clients whose monies are invested through the
Envestnet platform, we communicate to Envestnet any material changes in the client’s
financial profile.
USE OF SUB-ADVISOR. From time to time, we use a sub-advisor to provide portfolio
management analysis and recommendations. Where a sub-advisor is used, we remain
responsible for determining suitability of the managed assets and for determining the
investment strategies employed. See Item 10E of this Brochure for more information
about our sub-advisory relationship with our affiliate, Pioneer Financial Planning (92) Ltd.
INVESTMENT PRODUCT TYPES. We will review all investment products in your portfolio
at the inception of our advisory relationship. When recommending investments,
generally, the Firm’s advice is more narrowly focused on the following universe of
products:
▪ Exchange listed securities
▪ Securities traded over-the-counter
▪ Securities issued by foreign issuers, including foreign sovereign debt instruments
▪ Corporate debt securities, including commercial paper
▪ U.S. government securities
▪ Municipal Securities
▪ Mutual funds (foreign and domestic)
▪ Exchange-traded funds
▪ Structured products, including principal-protected notes
▪ Private equity funds
▪ Hedge funds
▪ Non-registered real estate-related funds
D. Assets Under Management
As of December 31, 2023, we were managing on a discretionary basis $703,204,904 of client
assets. We also provide consultation services on an additional $41,371,492 as of December
31, 2023, making the total assets under management and consultation $744,576,396.