Overview
Business Owners
Lodestone Wealth Management has been operating as a registered investment advisor since October
2009. Our two principal owners are Daniel Murphy and Andrew McDirmid. Lodestone Wealth
Management is referred to in this document as “Lodestone Wealth Management,” “the Company,”
“us” “we,” or “our.” We refer to current and prospective clients as “you,” “client,” or “your.”
Advisory Services
We provide discretionary portfolio management and financial planning to our clients. Each client,
upon account opening, fills out a Client Profile giving us insight to each clients’ financial information,
investment objectives, and risk tolerance.
We design portfolios using a variety of different types of investments, but most commonly we use an
array of publicly traded exchange-traded funds, mutual funds, and individual stocks and fixed income
securities. We use one or more third-party investment advisors as part of our overall portfolio
management allocation when we believe the use of the third-party advisor provides additional benefit
to the client, such as providing access to certain mutual funds that would otherwise not be available
given high investment minimums. When we select another advisor, we determine which program(s)
or strategies are most appropriate for the client, but we do not make the individual investment
decisions; we continually monitor the portfolio and will change the advisor selection when
appropriate.
For accredited investors only, we may recommend a small allocation of the client’s overall portfolio
be invested into a privately held security, such as a non-traded REIT. When a client purchases a
privately held security, that is done on a non-discretionary basis; clients will receive the investment’s
offering document and will sign subscription documents to purchase the security. Privately held
positions are included in the client’s overall portfolio value for billing purposes.
Your portfolio is customized based on your individual needs. Clients may impose restrictions on
investing in certain securities or types of
securities. Any client trading restrictions will be in writing.
We do not accept restrictions that fall outside our standard suite of services or investment products.
We review client portfolios on a continuous basis to ensure allocations and portfolios are in line with
each client’s goals and objectives, whether they are managed by us or managed by a third-party
investment advisor.
We include basic financial planning services in our annual management fee. When the scope of a
client’s planning needs is greater in scope and complexity than what we generally include in our
management fee, or the client has requested we provide standalone planning services without
portfolio management services, we will provide requested planning services on an hourly or fixed fee
basis. Depending on the advisory representative working with you, planning services may also include
tax planning or estate planning.
Important Information for Retirement Investors: When we recommend that you rollover retirement
assets or transfer existing retirement assets, such as a 401(k) or an IRA, to our management, we have
a conflict of interest. This is because we will generally earn additional revenue when we manage more
assets. In making the recommendation, however, we do so only after determining that the
recommendation is in your best interest. Further, in making any recommendation to transfer or
rollover retirement assets, we do so as a “fiduciary,” as that term is defined in ERISA or the Internal
Revenue Code, or both. We also acknowledge we are a fiduciary under ERISA or the Internal Revenue
Code with respect to our ongoing investment advisory recommendations and discretionary asset
management services, as described in the advisory agreement we execute with you. To the extent
we provide non-fiduciary services to you, those will be described in the advisory agreement.
Wrap Fee Program
Lodestone Wealth Management does not participate in or sponsor in any wrap fee program.
Assets Under Management
As of 12/31/2022 we managed assets of $221,562,996, all on a discretionary basis.