Firm Description
Integrated Wealth Strategies, LLC, (“IWS” or “Adviser”) was founded in November 2010.
Integrated Wealth also does business as “Wealth Advise”. There is one managing member of
the firm, Danny Caswell.
IWS provides holistic personalized confidential financial planning and investment management
to high net worth individuals, families, pension and profit-sharing plans, trusts, estates, charitable
organizations and businesses.
IWS is a fee based financial planning and investment management firm. The firm does not sell
stocks, bonds, mutual funds, limited partnerships on commission or other commissioned
products. The firm’s members are affiliated with entities that sell financial insurance products
and offer legal and tax advice.
Investment advice is an integral part of financial planning. Advice is provided through
consultation with the client and may include: determination of financial objectives,
identification of financial problems, cash flow management, tax coordination and planning,
insurance review and planning, investment management, education funding, retirement
planning, income planning, and estate planning, wills and tax preparation. We also provide
succession planning and benefit plans for businesses and business owners.
IWS does not act as a custodian of client assets. The client always maintains asset control. IWS
places trades for clients under a limited power of attorney.
A written evaluation of each client's initial situation is provided to the client, often in the form of
a net worth statement. Periodic reviews are conducted to update the client on activity, provide
an overview of conditions impacting their financial condition, and to provide a forum for clients
to share new or updated information regarding financial goals, objectives, risk tolerance, and
other constraints. In person reviews are held proactively according to customer preference but
are generally held a minimum of once per year. Portfolios are reviewed on an ongoing basis
for drift and compliance to the investment policy, and any reminders or action items are
communicated to the client in an appropriate manner.
Other professionals (e.g., lawyers, accountants, insurance agents, etc.) are engaged directly
by the client on an as-needed basis. Conflicts of interest will be disclosed to the client in the
unlikely event they should occur.
Types of Advisory Services
IWS provides investment supervisory services, also known as asset management services and
furnishes financial planning and investment advice through consultations.
On more than an occasional basis, IWS furnishes advice to clients on matters not involving
securities, such as taxation issues and trust services that often include estate planning, benefit
plans, succession planning, insurance planning, wills and tax coordination and preparation.
ASSET MANAGEMENT
IWS offers discretionary direct asset management services to advisory clients. IWS will offer
clients ongoing portfolio management services by determining individual investment goals,
time horizon, objectives, and risk tolerance. Investment strategies, investment selection, assets
allocation, portfolio monitoring and the overall investment program will be based on the above
factors. The client will authorize IWS discretionary authority to execute investment program
transactions as stated within the Investment Advisory Agreement.
IWS will develop an Investment Policy Statement (IPS) for each client or unique entity under
management and deliver it to you upon completion. The IPS defines the asset allocation, the
types of investments to be included, and the rebalancing methodology for the portfolio. The
IPS will reflect the client’s goals, objectives, and tolerance for risk. The IPS will serve as a
roadmap for making prudent investment decisions going forward and will help reduce the
emotion associated with making financial market decisions. The IPS will incorporate many
different aspects of your financial status into an overall financial strategy designed to meet your
goals and objectives. Typically, IWS will implement each clients' investment policy using a broad
range of investments, investment vehicles, and strategies. Based on the information the client
shares with us, we will analyze the situation and recommend an appropriate asset allocation
or investment strategy. The client will be provided with a targeted strategic allocation of assets
by class. Our recommendations and ongoing management are based upon the client’s
investment goals and objectives, risk tolerance, and the investment portfolio selected. We will
monitor the account, trade as necessary, and communicate regularly with you. Periodic
portfolio reviews will be conducted in person, by telephone conference, and/or via a written
inquiry/questionnaire on a quarterly, bi-annual or annual basis.
IWS offers direct asset management services to advisory clients. IWS provides clients with
ongoing portfolio management services by first determining individual investment goals, time
horizons, objectives, and risk tolerance. Investment strategies, investment selection, assets
allocation, portfolio monitoring and the overall investment program will be based on the above
factors. The client may grant IWS discretionary authority to execute selected investment
transactions as stated within the Investment Advisory Agreement. This discretionary authority
relates to trading authority only, including the securities to be bought or sold, and the amount
of securities to be bought or sold for your account on your behalf.
Under certain conditions, securities from outside accounts may be transferred into your advisory
account; however, IWS may recommend that you sell any security if we believe that it is not
suitable for the current recommended investment strategy. You are responsible for any taxable
events in these instances. Certain assumptions may be made with respect to interest and
inflation rates and the use of past trends and performance of the market and economy. Past
performance is not indicative of future results.
FINANCIAL PLANNING AND CONSULTING
Unless included as part of asset management, the client may choose to compensate IWS on
an hourly or negotiable fixed fee basis for financial planning services. The planning relationship
consists of face-to-face meetings and ad hoc meetings with your other advisors (attorneys,
accountants, etc.). Financial plans will be completed and delivered inside of ninety (90) days.
Prior to the planning process, the client is provided an estimated fee schedule. In most
instances, the process starts with income planning. Planning for pre-retirement clients typically
focuses on savings requirements, whereas income is the primary focus for clients beyond
retirement age.
IWS will use the planning process as a key part of the client due diligence process to help derive
the most applicable investment policy for the client. This investment policy will dictate the
investment types to be used and the respective allocation ranges. The policy will be based on
many factors, including but not limited to risk tolerance and retirement age.
The planning process also includes also encompasses several other key activities, including a
review of tax returns for missed deductions and savings opportunities, a review of insurance
coverage, as well as applicable wills, trusts, and estates.
Wills and Trust documents may also be reviewed to ensure they correctly reflect the client's
current situation. In the event changes are necessary, IWS can either coordinate the
accounting and/or legal work internally or can refer the client to an accountant or estate
planning attorney who may or may not be affiliated with us. Current insurance policies may
also be reviewed to ensure the client has the correct coverage and deductible for auto, home,
and health policies. We may also recommend the purchase of additional coverage if needed.
In addition, IWS will review and offer advice on portfolios that are not managed by IWS. IWS
may also help business owners to sell their businesses and may charge an hourly or fixed rate
consulting fee for these services. If you engage us to perform these services, you will receive a
written agreement detailing the services, fees, terms and conditions of the relationship. You will
also receive this Brochure. You are not bound to use IWS as your service provider to implement
your recommendations.
IWS gathers information from a wide variety of publicly available sources. IWS does not have
any inside private information about any investments that are recommended. All
recommendations developed by us are based upon our professional judgment. IWS cannot
guarantee the results of any of our recommendations. Choosing which advice to follow is your
decision.
Outside Managers
IWS offers various additional types of advisory services with third party unaffiliated registered
investment advisors. IWS delegates discretionary authority to the Outside Manager with regard
to the day-to-day management and trading of each client’s account underlying the program.
IWS uses the Outside Managers’ proprietary, automated, and computer algorithms to
recommend a model portfolio for a client’s account. IWS collects certain demographic
information, financial information, initial and ongoing investment amounts, investment time
horizon, and investment goal amount in order to recommend an asset allocation model
portfolios that are diversified across multiple asset classes. The model portfolios IWS
recommends are Outside Managers’ Core portfolios, which consist of a set of globally
diversified stock and bond allocations through mutual funds and ETFs. The percentage of stock
and bond allocations is based on the answers to the information collected by the client. Clients
have the option of accepting the model portfolio recommended by the algorithm or adjusting
the parameters for the purpose of receiving a different model portfolio. Adjusting the
parameters may lead to a recommendation that is not risk appropriate for such clients. Please
refer to the ADV Part 2A of the Outside Manager managing your account(s) for a full description
of their services.
We monitor the performance of the selected Outside Managers. If we determine that a
particular selected Outside Manager is not providing sufficient management services to the
client or is not managing the client's portfolio in a manner consistent with the client's IPS, we
may suggest that the client contract with a different registered investment adviser and/or
program sponsor. Under this scenario, our firm assists the client in selecting a new registered
investment adviser and/or program. However, any move to a new registered investment
adviser and/or program is solely at the discretion of the client.
ERISA FIDUCIARY
IWS understands and attests that they are an ERISA fiduciary as defined in the Fiduciary Rule
under the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code
of 1986 as it relates to Individual Retirement Accounts (IRAs). We adhere to the Impartial
Conduct Standards (including the “best interest” standard, reasonable compensation, and
no misrepresented information.
We do not act as a discretionary investment manager of any Plan as defined in Section 3(38)
of the Employee Retirement Income Security Act of 1974. We do not act as a non- discretionary
investment manager of any Plan as defined in Section 3(21) of the Employee Retirement
Income Security Act of 1974.
Client Tailored Services and Client Imposed Restrictions
The goals and objectives for each client are documented in our client files. Investment
strategies are created that reflect the stated goals and objective. Clients may impose
restrictions on investing in certain securities or types of securities. Agreements may not be
assigned without written client consent.
Client Assets under Management
As of December 31, 2023, IWS manages $103,777,344 on a discretionary basis.