Description of Firm
Financial Advisory Partners, LLC is a registered investment adviser based in Winter Park, FL. We are
organized as a limited liability company ("LLC") under the laws of the State of Florida. Our firm has
been a legal entity since 2008, and our firm has been providing investment advisory services since
November 2020. We are primarily owned by Alexander van den Berg and David Sutphin, each with
over 35 years in the financial industry. Northstar Bank also has a minority ownership interest in our
firm. Please refer to Item 10 of this Brochure for more information on Northstar Bank.
The following paragraphs describe our services and fees. Please refer to the description of each
investment advisory service listed below for information on how we tailor our advisory services to your
individual needs. As used in this Brochure, the words "we," "our," and "us" refer to Financial Advisory
Partners, LLC and the words "you," "your," and "client" refer to you as either a client or prospective
client of our firm.
Portfolio Management Services
Our firm offers portfolio management services that consist of ongoing financial advice and
discretionary and/or non-discretionary management services where investment advice is tailored to
meet your individual circumstances and investment objectives. These services include an initial
discovery consultation along with ongoing review consultations, as may be agreed, to discuss your
unique financial situation and changing needs over time. We will ask that you complete certain investor
questionnaires, on-boarding forms, and/or other documents to assist us in gathering information about
your financial needs and circumstances. This would include your investment experience, investment
objectives, time horizon, liquidity needs, risk tolerance, tax circumstances, and various other financial
factors necessary for us to develop a complete investor profile. Based on our evaluation of the
foregoing factors we will use the information we gather to develop a strategy that enables our firm to
give you continuous and focused investment advice.
As part of portfolio management services, we use the services of an unaffiliated third-party manager(s)
to manage your investment portfolio. Typically, we use NBC Asset Management (doing business on
behalf of NBC Securities) to assist with managing our client portfolios – please refer to Items 5 and 10
of this Brochure for more information on the relationship between our firm (and representatives) and
NBC Securities. We will regularly monitor the performance of your accounts managed by the selected
third-party manager, and may hire and fire any third-party manager in our sole discretion. When
determining the third-party manager, the client’s best interest will be the main determining factor. Other
factors that we take into consideration include, but are not limited to, the third-party
manager's services, performance, investment strategies, fees, and other added value that we believe
will benefit our clients.
If you engage our firm for discretionary portfolio management services, we require you to grant our firm
discretionary authority that will allow us to determine the specific securities, and the amount of
securities, to be purchased or sold for your account without your approval prior to each
transaction. This discretionary authority will also provide our firm with authorization to delegate
discretionary management services to other unaffiliated third-party managers selected by our firm
based on your investment objectives and/or determined portfolio strategy. In our sole discretion, we
may accept instructions from you that limit our discretionary authority (for example, limiting the types of
securities that can be purchased or sold for your account). Such requests must be presented to our
firm in writing. If you enter into non-discretionary arrangements with our firm, we will obtain your
approval prior to the execution of any transactions for your account(s).
We do not participate in a wrap fee program. For information on the investment strategies,
our
methods of analysis, and how we might manage your account(s), please see Item 8 (Methods of
Analysis, Investment Strategies and Risk of Loss section) of this Brochure.
Financial Planning and Consulting Services
We provide financial planning and consulting as a stand-alone service where we offer modular,
consultative, and/or broad-based services. These services generally involve a variety of advisory
services regarding the management of the client's financial resources based upon an analysis of their
individual needs. If you retain our firm for these services, we will meet with you to gather information
about your financial circumstances and objectives. As required, we will conduct follow-up interviews for
the purpose of reviewing and/or collecting additional financial data. Once such information has been
reviewed and analyzed, we will provide you with our recommendations designed to help you achieve
your stated financial goals and objectives.
In addition to modular (project-based) and broad-based services, we also offer ongoing services
covering complex financial planning and consulting support that typically includes, but not limited to:
ongoing consulting and financial planning; periodic reviews (as-needed or by client request); and
updates to your financial plan.
Our recommendations are based on your financial situation at the time we provide our
recommendations, and on the financial information you provide to our firm. You will always have the
right to accept or reject our recommendations. All terms of the engagement, including specific services
to be performed, will be evidenced in a written agreement between you and our firm.
Types of Investments
We offer advice on Equity Securities Exchange Traded Funds ("ETFs"), Mutual Fund Shares and Real
Estate Investment Trust ("REIT"). Additionally, we may advise you on various types of investments
based on your stated goals and objectives. We may also provide advice on any type of investment
held in your portfolio at the inception of our advisory relationship.
Since our investment strategies and advice are based on each client’s specific financial situation, the
investment advice we provide to you may be different or conflicting with the advice we give to other
clients regarding the same security or investment.
IRA Rollover Recommendations
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. The way we make money creates some conflicts with your interests, so we operate under a
special rule that requires us to act in your best interest and not put our interest ahead of yours. Under
this special rule’s provisions, 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.
We benefit financially from the rollover of your assets from a retirement account to an account that we
manage or provide investment advice, because the assets increase our assets under management
and, in turn, our advisory fees. 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 $299,379,933 in client
assets on a discretionary basis.