A. Firm Information
PACK Private Wealth, LLC (“PACK” or the “Advisor”) is a registered investment advisor with the U.S. Securities
and Exchange Commission (“SEC”). The Advisor was organized as a Limited Liability Company (“LLC”) under
the laws of the State of Minnesota in and became a registered investment advisor in October 2020. PACK is
currently owned by Derek J. Swedberg (Principal and Chief Compliance Officer). This Disclosure Brochure
provides information regarding the qualifications, business practices, and the advisory services provided by
PACK.
B. Advisory Services Offered
PACK offers wealth management services which include investment management, financial planning and/or
other advisory services to individuals, high net worth individuals, trusts, estates, businesses and retirement plans
(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. PACK'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.
PACK 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. PACK 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. PACK will then construct an
investment portfolio, consisting exchange-traded funds (“ETFs”), open-end mutual funds, individual stocks,
individual bonds, and closed-end mutual funds. The Advisor may also utilize covered options, limited
partnerships, and/or other types in investments, as appropriate, to meet the needs of the Client. The Advisor may
retain certain types of investments based on a Client’s legacy investments based on portfolio fit and/or tax
considerations.
PACK’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. PACK
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.
PACK evaluates and selects investments for inclusion in Client portfolios only after applying its internal due
diligence process. PACK may recommend, on occasion, redistributing investment allocations to diversify the
portfolio. PACK 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. PACK 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.
At no time will PACK 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 the designated account[s] at the
Custodian, pursuant to the terms of the advisory agreement. Please see Item 12 – Brokerage Practices.
Retirement Accounts – When deemed to be in the Client’s best interest, the Advisor will recommend that a Client
take a distribution from an ERISA sponsored plan or to roll over the assets to an Individual Retirement Accounts
(“IRAs”), 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). In such instances, the Advisor will serve as an investment fiduciary as that term is defined under
Page 5
The Employee
Retirement Income Security Act of 1974 (“ERISA”) and/or the Internal Revenue Code (“IRC”), as
applicable, which are laws governing retirement accounts. Such a recommendation creates a conflict of interest if
the Advisor will earn a new (or increase 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.
Financial Planning Services
PACK 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/or 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.
PACK 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 contract
date, assuming all information and documents requested are provided promptly.
Retirement Plan Advisory Services
PACK provides retirement plan advisory services on behalf of the retirement plans (each a “Plan”) and the
company (the “Plan Sponsor”). The Advisor’s retirement plan advisory services are designed to assist the Plan
Sponsor in meeting its fiduciary obligations to the Plan and its Plan Participants. Each engagement is customized
to the needs of the Plan and Plan Sponsor. Services generally include:
● Vendor Analysis
● Plan Participant Enrollment and Education Tracking
● Investment Policy Statement (“IPS”) Design and Monitoring
● Performance Reporting
● Ongoing Investment Recommendation and Assistance
These services are provided by PACK serving in the capacity as a fiduciary under the Employee Retirement
Income Security Act of 1974, as amended (“ERISA”). In accordance with ERISA Section 408(b)(2), the Plan
Sponsor is provided with a written description of PACK’s fiduciary status, the specific services to be rendered
and all direct and indirect compensation the Advisor reasonably expects under the engagement.
C. Client Account Management
Prior to engaging PACK 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 – PACK, in connection with the Client, will develop a strategy that
seeks to achieve the Client’s goals and objectives.
• Asset Allocation – PACK 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 – PACK will develop a portfolio for the Client that is intended to meet the stated
goals and objectives of the Client.
Page 6
• Investment Management and Supervision – PACK will provide investment management and ongoing
oversight of the Client’s investment portfolio.
D. Wrap Fee Programs
PACK does not manage or place Client assets into a wrap fee program. Investment management services are
provided directly by PACK.
E. Assets Under Management
As of December 31, 2023 PACK manages $241,212,000 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.