The Wealth Group – Austin B. Colby & Associates (hereinafter called “TWG”) is a Registered
Investment Adviser based in Eden Prairie, Minnesota, and incorporated under the laws of the
State of Minnesota. TWG is owned by Austin B. Colby. TWG is registered with the SEC and
subject to the rules and regulations of the US Advisers Act. Founded in January 2021, TWG
provides investment advisory services, which may include, but are not limited to, the review of
client investment objectives and goals, recommending asset allocation strategies of managed
assets among investment products such as cash, stocks, mutual funds and bonds, annuities,
and/or preparing written investment strategies. Our investment advice is tailored to meet our
clients’ needs and investment objectives. Clients may impose restrictions on investing in certain
securities or types of securities (such as a product type, specific companies, specific sectors, etc.)
by providing a signed and dated written notification, of which an e-mail is also an acceptable
form of notification. TWG also provides financial planning consulting services including, but
not limited to, risk assessment/management, investment planning, estate planning, financial
organization, or financial decision making/negotiation and retirement planning.
TWG provides investment advisory and other financial services through its Investment Advisory
Representatives ("IAR") to accounts opened with TWG. Managed Accounts are available to
individuals and high net worth individuals.
TWG provides discretionary investment advisory services to some of its clients through various
managed account programs. TWG will assist clients in determining the suitability of the
Managed Account Programs for the client. The IAR is compensated through a comprehensive
single fee and the account may be assessed other charges associated with conducting a brokerage
business. TWG and its IAR, as appropriate, will be responsible for the following:
• Performing due diligence
• Recommending strategic asset and style allocations
• Providing research on investment product options, as needed
• Providing client risk profile questionnaire
• Obtaining
investment advisory contract from client with required financial, risk tolerance,
suitability and investment vehicle selection information for each new account
• Performing client suitability check on account documentation, review the investment
objectives and evaluate the investment vehicle selections
• Providing Firm Brochure (this document)
Held Away Accounts
We may use a third-party platform (“Pontera,” formerly known as “FeeX”) to facilitate
discretionary management of held away assets such as defined contribution plan participant
accounts. The platform will allow us to avoid being considered as having custody of Client funds
since we would not have direct access to Client log-in credentials to affect trades. We are not
affiliated with the platform in any way and receive no compensation from Pontera for using their
platform. A link will be provided to the Client allowing them to connect an account(s) to the
platform. Once Client account(s) is connected to the platform, Adviser will review the current
account allocations. When deemed necessary, Adviser will rebalance the account considering
client 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 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
TWG may recommend a Wrap Fee Program for the client’s account(s). A “wrap fee program”
for purposes of the SEC is a program under which investment advisory and
brokerage execution services are provided for a single “wrapped” fee that is not based on the
transactions in a client account. Clients with Wrap Fee Program accounts will be provided with
TWG’s Wrap Fee Brochure.
As of December 31, 2022, the firm has total client assets under management in the amount of
$363,140,854; that includes $354,541,361 in discretionary assets and $8,599,493 in non-
discretionary assets.
Form ADV, Part 2A, Item 5