Westward Investment Advisory, LLC ("WIA" or the "Firm") is an SEC registered investment advisor and
has been in business since December 2015. This brochure provides clients with information regarding
WIA and the qualifications, business practices and nature of advisory services that should be
considered before becoming an advisory client of WIA.
This disclosure document is being offered to you in connection with the investment advisory services
provided by WIA to provide you with information about the services we provide and the manner in
which those services are made available to you, the client.
WIA is committed to helping our clients achieve their stated financial goals by working diligently to
understand your unique needs and crafting customized solutions to meet those needs. Our focus,
client-centric process, experience, and unique expertise are the foundation on which we build each
client relationship.
WIA is a fee-based investment management firm located in Prairie Village, Kansas and Milwaukee,
Wisconsin. The primary owners of WIA are Casey McLiney and James Holcomb. Prior to engaging us
to provide investment advisory services, you are required to enter into a written agreement with WIA. A
separate custodial agreement may also be required. The agreement sets forth the terms and
conditions of the engagement and describes the scope of the services provided and the fees for such
services.
We provide portfolio management services on a discretionary basis and investment and asset
servicing consulting on a non-discretionary basis. We do not and will not have custody of your funds or
securities, except for the limited access to deduct investment advisory fees via the qualified custodian
and only with the appropriate prior authorization for you.
WIA offers investment advisory services to institutional investors of all types including not-for-profit
organizations, family offices, corporations, and retirement plans. We also offer investment advisory
services to individuals and families. The Firm's services and fee arrangements are described in the
following pages.
Individuals who are appropriately licensed, qualified and authorized to provide advisory services on
behalf of WIA are known as Investment Adviser Representatives ("IARs"). IARs offer advice to clients
regarding investments in stocks, bonds, mutual funds, and other securities or investments as deemed
appropriate to its clients. WIA reserves the right to advise clients on any other type of investment that it
deems appropriate based on the client's stated investment goals and objectives. WIA may also provide
advice on any type of investment held in a client's portfolio at the inception of the advisory relationship
or on any investment for which the client requests advice.
Professional Liability Insurance
WIA maintains professional liability insurance coverage for its investment advisory services. Within 30
days of any client or prospective client request, WIA will provide proof of professional liability insurance
that includes a copy of the insurance agreement that is in effect.
Portfolio Management Services
WIA primarily provides continuous discretionary asset management and investment advisory services.
Subject to any written guidelines, which the client may provide, the Firm will be granted discretion and
authority to manage the account. Accordingly, WIA is authorized to perform various functions, at the
client's expense, without further approval from the client. Such functions include making all investment
decisions for the (a) securities to be purchased or sold; (b) the amount of securities to be purchased or
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sold; (c) selection of the broker or dealer to execute transactions; and (d) the commission rates to be
paid. Once the portfolio is constructed, WIA provides ongoing supervision and re-balancing of the
portfolio as changes in market conditions and client circumstances may require. Clients may limit our
discretionary authority (for example, limiting the types of securities that can be purchased or sold for
your account) by providing restrictions and guidelines in writing.
In limited circumstances, the Firm may enter into non-discretionary arrangements with clients, where it
will obtain client approval prior to the execution of a trade. Clients have an unrestricted right to decline
to implement any advice provided by the firm on a non-discretionary basis.
Financial Planning Services
WIA may offer financial planning services which will typically involve providing a variety of services,
principally advisory in nature to clients regarding the management of their financial resources based
upon analysis of their individual needs. An Advisor of the Firm will first conduct a complimentary initial
consultation. After the initial consultation, if the client decides to engage WIA for financial planning
services, the Advisor will conduct follow up meetings as necessary during which pertinent information
about the client's financial circumstances and objectives is collected. Once such information has been
reviewed and analyzed, a written
financial plan, designed to achieve the client's stated financial goals
and objectives, will be produced and presented to the client. The primary objective of this process is to
allow the Firm to assist the client in developing a strategy for the successful management of income,
assets, and liabilities in meeting the client's financial goals and objectives.
Financial plans are based on the client's financial situation at the time the plan is presented and are
based on financial information disclosed by the client to the Firm. Clients are advised that certain
assumptions may be made with respect to market conditions and macroeconomic trends. Past
performance is in no way an indication of future results. WIA cannot offer any guarantees or promises
that the client's financial goals and objectives will be met. As the client's financial situation, goals,
objectives or needs change, the client should notify the Firm promptly.
Financial planning clients are under no obligation to act on our financial planning recommendations.
Should the client choose to act on any of our recommendations, they are not obligated to implement
the financial plan through any of our other investment advisory services. Moreover, clients may act on
our recommendations by placing securities transactions with any brokerage firm.
Consulting Services
Clients may also receive investment related consulting services based on their needs and the
expertise and services available from our firm. Consulting topics may include, but are not limited to,
risk assessment/management, investment planning, financial organization, or financial decision
making/negotiation.
Wrap Fee Programs
WIA does not participate in any wrap fee program.
Selection of Other Advisers
WIA may recommend that you use the services of a third party money manager ("TPMM") to manage
all, or a portion of, your investment portfolio. After gathering information about your financial situation
and objectives, we may recommend that you engage a specific TPMM or investment program. Factors
that we take into consideration when making our recommendation(s) include, but are not limited to, the
following: The TPMM's performance, methods of analysis, fees, your financial needs, investment
goals, risk tolerance, and investment objectives. We will monitor the TPMM(s)' performance to ensure
its management and investment style remains aligned with your investment goals and objectives.
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The TPMM(s) will actively manage your portfolio and will assume discretionary investment authority
over your account. We will assume discretionary authority to hire and fire TPMM(s) and/or reallocate
your assets to other TPMM(s) where we deem such action appropriate.
General Information Regarding Advisory Services
Advice offered by WIA may involve investments in mutual funds, exchange traded funds, or separately
managed accounts. WIA does not represent, warrant or imply that the services or methods of analysis
employed by the Firm can or will predict future results, successfully identify market tops or bottoms or
insulate clients from the losses due to market corrections or declines.
WIA shall never have custody of any client funds or securities as the services of a qualified
independent custodian will be utilized for these services.
IRA Rollover Recommendations
Effective December 20, 2021 (or such later date as the US Department of Labor ("DOL") Field
Assistance Bulletin 2018-02 ceases to be in effect), for purposes of complying with the DOL's
Prohibited Transaction Exemption 2020-02 ("PTE 2020-02") where applicable, we are providing the
following acknowledgment to you. When we provide investment advice to you regarding your
retirement plan account or individual retirement account, we are fiduciaries within the meaning of Title I
of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable,
which are laws governing retirement accounts. Because our fees are based on the amount of assets
that we manage, there is a conflict of interest when a rollover is recommended. In order to manage
that and comply with this special rule, we must:
•Meet a professional standard of care when making investment recommendations (give prudent
advice);
•Never put our financial interests ahead of yours when making recommendations (give loyal
advice);
•Avoid misleading statements about conflicts of interest, fees, and investments;
•Follow policies and procedures designed to ensure that we give advice that is in your best
interest;
•Charge no more than is reasonable for our services; and
•Give you basic information about conflicts of interest.
As a fiduciary, we only recommend a rollover when we believe it is in your best interest.
Assets Under Management
As of December 31, 2023, we provide continuous management services for $52,776,019 in client
assets on a discretionary basis, and $344,637,872 in client assets on a non-discretionary basis. We
also manage $243,464,787 in client assets on a non-continuous basis.