A. Firm Information
Performance Wealth Partners, LLC d/b/a Performance Wealth (“Performance Wealth” or the “Advisor”)
is organized as a limited liability company (“LLC”) under the laws of the State of Delaware. Performance
Wealth is a registered investment advisor with the U.S. Securities and Exchange Commission (“SEC”).
Performance Wealth was founded in 2020 and is owned and operated by Thomas Salvino (Chief Executive
Officer and Wealth Manager) and John P. Salvino (President, Chief Financial Officer, and Wealth Manager).
For additional information on this Disclosure Brochure, please contact Ryan Gough, Chief Operating
Officer, and Chief Compliance Officer at (630) 686-5658.
B. Advisory Services Offered
Performance Wealth offers investment management services to individuals, high-net-worth individuals,
trusts, estates, charitable organizations, corporations and business entities, and retirement plans (each
referred to as a “Client”).
The Advisor serves as a fiduciary to Clients, as defined under applicable laws and regulations. As a
fiduciary, the Advisor upholds a duty of loyalty, fairness, and good faith toward each Client and seeks to
mitigate potential conflicts of interest. Performance Wealth’s fiduciary commitment is further described
in the Advisor’s Code of Ethics. For more information regarding our Code of Ethics, please see Item 11 –
Code of Ethics, Participation or Interest in Client Transactions and Personal Trading.
Wealth Management Services
Performance Wealth provides Clients with wealth management services, which generally include
discretionary investment management of investment portfolios in connection with a broad range of
comprehensive financial planning and consulting services. These services are described below.
Investment Management Services – Performance Wealth provides customized investment advisory
solutions for its Clients. This is achieved through continuous personal Client contact and interaction while
providing discretionary and/or non-discretionary investment management and related advisory services.
Performance Wealth 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. Performance Wealth
will then construct a portfolio consisting of low-cost, diversified mutual funds and/or exchange-traded
funds (“ETFs”) to achieve the Client’s investment goals. The Advisor may also utilize individual stocks,
individual bonds, real estate investment trusts (“REITs”), options contracts, and/or alternative
investments to meet the needs of its Clients. Where appropriate, the Advisor may also provide advice
about any type of legacy position or other investment held in client portfolios. The Advisor may retain
certain legacy investments based on portfolio fit and/or tax considerations.
Performance Wealth’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. Performance Wealth 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.
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Performance Wealth evaluates and selects investments for inclusion in Client portfolios only after
applying its internal due diligence process. Performance Wealth may recommend, on occasion,
redistributing investment allocations to diversify the portfolio. Performance Wealth 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. Performance Wealth 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.
Retirement Accounts – When the Advisor provides investment advice to Clients regarding ERISA
retirement accounts or individual retirement accounts (“IRAs”), the Advisor is a fiduciary within the
meaning of Title I of the Employee Retirement Income Security Act (“ERISA”) and/or the Internal Revenue
Code (“IRC”), as applicable, which are laws governing retirement accounts. When deemed to be in the
Client’s best interest, the Advisor will provide investment advice to the Client regarding a distribution from
an ERISA retirement account or to roll over the assets to an IRA, 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). Such a
recommendation creates a conflict of interest if the Advisor earns a new (or increases 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.
At no time will Performance Wealth 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 their
designated account[s] at the Custodian, pursuant to the terms of the Client investment advisory
agreement. For additional information, please see Item 12 – Brokerage Practices.
Financial Planning and Consulting Services – Performance Wealth provides financial planning and/or
consulting services included with its wealth management services. 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, estate planning, insurance
needs, next-generation education and engagement, tax planning, personal savings, budgeting and cash
flow analysis, education
savings, social security and Medicare analysis, and 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, and establish education savings and/or charitable giving programs.
Performance Wealth 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 the contract date, assuming all information and documents requested
are provided promptly.
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Consulting recommendations pose a conflict between the interests of the Advisor and the interests of the
Client. For example, the Advisor has an incentive to recommend that Clients engage the Advisor for
investment management services or to increase the level of investment assets with the Advisor, as it
would increase the amount of advisory fees paid to the Advisor. Clients are not obligated to implement
any recommendations made by the Advisor or maintain an ongoing relationship with the Advisor. If the
Client elects to act on any of the recommendations made by the Advisor, there is no guarantee of returns,
and the Client is under no obligation to implement the transaction through the Advisor.
Participant Account Management
As part of the Advisor’s investment management services, when appropriate, the Advisor will use a third-
party platform to facilitate the management of held-away assets, such as defined contribution plan
participant accounts, with investment discretion. The platform allows the Advisor to avoid being
considered to have custody of Client funds since the Advisor does not have direct access to Client log-in
credentials to affect trades. Performance Wealth is not affiliated with the platform in any way and receives
no compensation from them for using their platform. A link will be provided to the Client, allowing the
Client to connect an account[s] to the platform. Once the Client’s account[s] is connected to the platform,
the Advisor will review the current account allocations. When deemed necessary, the Advisor will
rebalance the account considering the Client’s investment goals and risk tolerance, and any change in
allocations will consider current economic and market trends. The goal is to improve account performance
over time, minimize loss during difficult markets, and manage internal fees that harm account
performance. Client account[s] will be reviewed at least quarterly, and allocation changes will be made as
deemed necessary.
Retirement Plan Advisory Services
Performance Wealth provides 3(21) 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
• Investment Management
• Performance Reporting
• Ongoing Investment Recommendation and Assistance
• ERISA 404(c) Assistance
These services are provided by Performance Wealth serving in the capacity of 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 Performance Wealth’s
fiduciary status, the specific services to be rendered, and all direct and indirect compensation the Advisor
reasonably expects under the engagement.
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C. Client Account Management
Prior to engaging Performance Wealth 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 – Performance Wealth, in connection with the Client, will
develop a strategy that seeks to achieve the Client’s goals and objectives.
• Asset Allocation – Performance Wealth 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 – Performance Wealth will develop a portfolio for the Client that is
intended to meet the stated goals and objectives of the Client.
• Investment Management and Supervision – Performance Wealth will provide investment
management and ongoing oversight of the Client’s investment portfolio.
D. Wrap Fee Program
Performance Wealth typically includes securities transaction fees, custody fees, administrative fees, wire
fees, and other fees and expenses (herein “Covered Costs”) together with its investment advisory fees.
Including these fees into a single asset-based fee is considered a “Wrap Fee Program.” The Advisor
customizes its investment management services for its Clients. The Advisor sponsors the Performance
Wealth Wrap Fee Program solely as a supplemental disclosure regarding the combination of fees.
Depending on the level of trading required for the Client’s account[s] in a particular year, the Client may
pay more or less in total fees than if the Client paid its own transaction fees. Please see Appendix 1 – Wrap
Fee Program Brochure, which is included as a supplement to this Disclosure Brochure.
E. Assets Under Management
As of December 31, 2022, Performance Wealth manages $1,901,033,251 in client assets, $1,888,668,493
of which is managed on a discretionary basis and $12,364,758 on a non-discretionary basis. Clients may
request more current information at any time by contacting Performance Wealth.