PSC Financial seeks to combine unparalleled business and financial acumen with a dedication to best-in-
class client care. To accomplish this goal we aim to understand and validate your expectations; deploy
strategies that seek to accomplish your unique objectives; and exceed your expectations throughout the
relationship.
PSC Financial offers a variety of advisory services, which include financial planning, consulting, and
investment management services. Prior to PSC Financial rendering any of the foregoing advisory services,
clients are required to enter into one or more written agreements with PSC Financial setting forth the
relevant terms and conditions of the advisory relationship (the “Advisory Agreement”).
PSC Financial was formed in March 2014 and is wholly owned by Howard Pakola. As of January 11, 2024,
PSC Financial has $115,085,860 of assets under management, all of which is managed on a discretionary
basis.
While this brochure generally describes the business of PSC Financial, certain sections also discuss the
activities of its Supervised Persons, which refer to the Firm’s officers, partners, directors (or other persons
occupying a similar status or performing similar functions), employees or any other person who provides
investment advice on PSC Financial’s behalf and is subject to the Firm’s supervision or control.
Financial Planning and Consulting Services
PSC Financial offers clients a broad range of financial planning and consulting services, which may include
any or all of the following functions:
•
Business Planning
• Cash Flow Forecasting
• Trust and Estate Planning
•
Financial Reporting
• Insurance Planning
•
Retirement Planning
• Charitable Giving
• Death and Disability Planning
•
Tax Planning
• Manager Due Diligence
While each of these services is available on a stand-alone basis, certain of them may also be rendered in
conjunction with investment portfolio management as part of a comprehensive wealth management
engagement (described in more detail below).
In performing these services, PSC Financial is not required to verify any information received from the
client or from the client’s other professionals (e.g., attorneys, accountants, etc.,) and is expressly authorized
to rely on such information. PSC Financial may recommend clients engage the Firm for additional related
services, its Supervised Persons in their individual capacities as insurance agents or registered
representatives of a broker-dealer and/or other professionals to implement its recommendations. Clients
are advised that a conflict of interest exists if clients engage PSC Financial or its affiliates to provide
additional services for compensation. Clients retain absolute discretion over all decisions regarding
implementation and are under no obligation to act upon any of the recommendations made by PSC Financial
under a financial planning or consulting engagement. Clients are advised that it remains their responsibility
to promptly notify the Firm of any change in their financial situation or investment objectives for the
purpose of reviewing, evaluating or revising PSC Financial recommendations and/or services.
Investment and Wealth Management Services
PSC Financial manages client investment portfolios on a discretionary basis. In addition, PSC Financial
may provide clients with wealth management services which generally include a broad range of
comprehensive financial planning and consulting services as well as management of investment portfolios.
PSC Financial primarily allocates client assets among various mutual funds, exchange-traded funds
(“ETFs”), individual debt and equity securities, real estate investment trusts, business development
companies and independent investment managers (“Independent Managers”) in accordance with their stated
investment objectives. In addition, PSC Financial may also recommend that certain eligible clients invest
in variable annuities, privately placed securities, which may include debt, equity and/or interests in pooled
investment vehicles (e.g., hedge funds).
Where appropriate, the Firm may also provide advice about any type of legacy position or other investment
held
in client portfolios. Clients may engage PSC Financial to manage and/or advise on certain investment
products that are not maintained at LPL Financial (“LPL”), such as variable life insurance and annuity
contracts and assets held in employer sponsored retirement plans and qualified tuition plans (i.e., 529 plans).
In these situations, PSC Financial directs or recommends the allocation of client assets among the various
investment options available with the product. These assets are generally maintained at the underwriting
insurance company or the LPL designated product’s provider.
PSC Financial tailors its advisory services to meet the needs of its individual clients and seeks to ensure,
on a continuous basis, that client portfolios are managed in a manner consistent with those needs and
objectives. PSC Financial consults with clients on an initial and ongoing basis to assess their specific risk
tolerance, time horizon, liquidity constraints and other related factors relevant to the management of their
portfolios. Clients are advised to promptly notify PSC Financial if there are changes in their financial
situation or if they wish to place any limitations on the management of their portfolios. Clients may impose
reasonable restrictions or mandates on the management of their accounts if PSC Financial determines, in
its sole discretion, the conditions would not materially impact the performance of a management strategy
or prove overly burdensome to the Firm’s management efforts.
Retirement Plan Consulting Services
PSC Financial provides various consulting services to qualified employee benefit plans and their
fiduciaries. This suite of institutional services is designed to assist plan sponsors in structuring, managing
and optimizing their corporate retirement plans. Each engagement is individually negotiated and
customized, and may include any or all of the following services:
• Plan Design and Strategy
• Plan Review and Evaluation
•
Executive Planning & Benefits
• Investment Policy Statement
•
Investment Selection
• Plan Fee and Cost Analysis
• Plan Committee Consultation
•
Fiduciary and Compliance
• Employee Communications
•
Participant Education
As disclosed in the Advisory Agreement, certain of the foregoing services are provided by PSC Financial
as a fiduciary under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). In
accordance with ERISA Section 408(b)(2), each plan sponsor is provided with a written description of PSC
Financial’s fiduciary status, the specific services to be rendered and all direct and indirect compensation
the Firm reasonably expects under the engagement.
Use of Independent Managers
As mentioned above, PSC Financial may select certain Independent Managers to actively manage a portion
of its clients’ assets. The specific terms and conditions under which a client engages an Independent
Manager may be set forth in a separate written agreement with the designated Independent Manager. In
addition to this brochure, clients may also receive the written disclosure documents of the respective
Independent Managers engaged to manage their assets.
PSC Financial evaluates a variety of information about Independent Managers, which may include the
Independent Managers’ public disclosure documents, materials supplied by the Independent Managers
themselves and other third-party analyses it believes are reputable. To the extent possible, the Firm seeks
to assess the Independent Managers’ investment strategies, past performance and risk results in relation to
its clients’ individual portfolio allocations and risk exposure. PSC Financial also takes into consideration
each Independent Manager’s management style, returns, reputation, financial strength, reporting, pricing
and research capabilities, among other factors.
PSC Financial continues to provide services relative to the discretionary selection of the Independent
Managers. On an ongoing basis, the Firm monitors the performance of those accounts being managed by
Independent Managers. PSC Financial seeks to ensure the Independent Managers’ strategies and target
allocations remain aligned with its clients’ investment objectives and overall best interests.