General Information
Strickland Davis Advisors LLC, formerly known as Investment Management Advisors, LLC was
formed in 1998 and provides portfolio management and retirement plan services to its clients.
Kendyl C. Strickland is the sole principal owner of Strickland Davis Advisors LLC. Please see Brochure
Supplement, Exhibit A, for more information on Mr. Strickland and other individuals who formulate
investment advice and have direct contact with clients or have discretionary authority over client
accounts.
As of March 14, 2024, Strickland Davis Advisors, LLC managed $112,192,919 of assets on a
discretionary basis, and $0 assets on a non-discretionary basis. Strickland Davis Advisors LLC does
not participate in or offer any wrap programs.
SERVICES PROVIDED
Portfolio Management
At the outset of each client relationship, Strickland Davis Advisors LLC spends time with the client,
asking questions, discussing the client’s investment experience and financial circumstances, and
reviewing options for the client. Based on its reviews, Strickland Davis Advisors LLC generally
develops an Investment Policy Statement (“IPS”) with each client. The IPS is based on the client’s
financial circumstances and goals, risk tolerance level and investment objectives. Income tax,
retirement and estate planning are also integral parts of the IPS. The IPS will be updated from time
to time when requested by the client, or when determined to be necessary or advisable by Strickland
Davis Advisors LLC based on updates to the client’s financial or other circumstances.
Strickland Davis Advisors LLC analyzes existing assets, including allocation among asset classes, and
suggests changes to the allocation based on the IPS. Strickland Davis Advisors LLC manages portfolios
directly. After agreeing to a target asset allocation, Strickland Davis then implements that allocation
using investment products which may include, but are not limited to, cash (to include money market
funds), stocks, mutual funds, ETFs (exchange traded funds) and bonds. Strickland Davis Advisors LLC
has discretionary authority over the client’s investment portfolio. As a discretionary investment
adviser, Strickland Davis Advisors LLC will have the authority to supervise and direct the portfolio
without prior consultation with the client.
Notwithstanding the foregoing, clients may impose certain written restrictions on Strickland Davis
Advisors LLC in the management of their investment portfolios, such as prohibiting the inclusion of
certain types of investments in an investment portfolio or prohibiting the sale of certain investments
held in the account at the commencement of the relationship. Each client should note, however, that
restrictions imposed by a client may adversely affect the composition and performance of the client’s
investment portfolio. Each client should also note that his or her investment portfolio is treated
individually by giving consideration to each purchase or sale for the client’s account. For these and
other reasons, performance of client investment portfolios within the same investment objectives,
goals and/or risk tolerance may differ, and clients should not expect that the composition or
performance of their investment portfolios would necessarily be consistent with similar clients of
Strickland Davis Advisors LLC.
Retirement Plan Services
Establishing a sound fiduciary governance process is vital to good decision-making and to ensuring
that prudent procedural steps are followed in making investment decisions. Strickland Davis Advisors
LLC, in conjunction with Savant Wealth Management, will provide Retirement Plan consulting services
to Plans and Plan Fiduciaries as described below. The particular services provided will be detailed in
the consulting agreement. The appropriate Plan Fiduciary(ies) designated in the Plan documents (e.g.,
the Plan sponsor or named fiduciary) will (i) make the decision to retain our firm; agree to the scope
of the services that we will provide; and (iii) make the ultimate decision as to accepting any of the
recommendations that we may provide. The Plan Fiduciaries are free to seek independent advice about
the appropriateness of any recommended services for the Plan. Retirement Plan consulting services
may be offered individually or as part of a comprehensive suite of services.
The Employee Retirement Income Security Act of 1974 (“ERISA”) sets forth rules under which Plan
Fiduciaries may retain investment advisers for various types of services with respect to Plan assets.
For certain services, Strickland Davis Advisors LLC will be considered a fiduciary under ERISA. For
example, Strickland Davis Advisors LLC will act as an ERISA § 3(21) fiduciary when providing non-
discretionary investment advice to the Plan Fiduciaries.
Strickland Davis Advisors LLC has contracted with Savant Wealth Management for assistance with
providing retirement plan services to its clients. Such services include administrative, consulting, and
marketing support, as well as Savant Wealth Management’ service as an ERISA 3(38) Investment
Manager with full discretion for investment selection and monitoring. Retirement Plan clients, through
the Plan Fiduciaries, will enter into separate agreements with both Strickland Davis Advisors LLC and
Savant Wealth Management.
With respect to any account for which Strickland Davis LLC meets the definition of a fiduciary under
Department of Labor rules, Strickland Davis LLC acknowledges that both Strickland Davis LLC and its
Related Persons are acting as fiduciaries. Additional disclosure may be found elsewhere in this
Brochure or in the written agreement between Strickland Davis LLC and Client.
ASSET ALLOCATION THROUGH ADVISOR SERVICES PROGRAM
The Adviser offers an asset allocation program through the Advisor Services program (formerly
Partners+Program™) by Savant Wealth Management, an independent investment adviser registered
with the SEC (“Savant Wealth Management”). The Adviser will work with the client to determine
the
client’s investment objectives, risk and return characteristics and types of investments and provide
the client with a written investment policy statement. The Adviser assists clients in selecting the
investment strategies that are consistent with the client’s investment policy statement. The Adviser
evaluates the client’s existing investments with respect to the client’s investment policy statement
and individual performance. The Adviser then works with clients to develop a transition plan in order
to move from the client’s existing asset allocation to the desired asset allocation. The Adviser will
direct the investment and reinvestment of the assets in the client’s account. The Adviser will monitor
the performance of the assets as well as the asset allocation strategy and then meet with the client as
requested to review performance reports provided to the client.
The Adviser provides ongoing investment supervisory services on the client’s behalf. These services
include the following:
A. Prepare the client’s investment policy statement.
B. Review the client’s risk profile.
C. Recommend options to achieve the client’s financial objectives.
D. Implement investment strategies; and
E. Report to client and monitor performance of the client’s investments.
The Adviser has contracted with Savant Wealth Management for services including portfolio
management, trade processing, collection of portfolio management fees, report preparation and
maintenance, marketing assistance and research, and access to certain lower cost institutional class
mutual funds.
The Adviser will supervise client accounts and otherwise provide services to clients and conduct its
activities in a manner that satisfies all applicable conditions of the Investment Advisers Act of 1940,
as amended (the “Advisers Act”), and Rule 3a-4 under the Investment Company Act of 1940, as
amended, including: (i) obtaining information from the client about the client’s particular financial
situation and investment objectives (including any reasonable investment restrictions that the client
may wish to impose on the management of its account); (ii) contacting each client at least annually to
determine whether there have been any changes in the client’s financial situation or investment
objective, or whether the client wishes to impose any reasonable restrictions on the management of
the account or modify an existing restriction in a reasonable manner; and (iii) notifying each client in
writing at least quarterly to contact the Adviser if there have been any changes in the client’s financial
situation or investment objectives, or if the client wishes to impose or clarify an investment
restriction.
Fiduciary Consulting Services
• Non-Discretionary Investment Advice: Strickland Davis Advisors LLC provides Plan Fiduciaries
and Plan Participants general, non-discretionary investment advice regarding assets classes
and investments.
• Plan Investment Policy Statement/Investment Documentation Process: Strickland Davis
Advisors LLC will assist the Plan Fiduciary with the drafting, design, implementation,
maintenance and review of an Investment Policy Statement or other investment
documentation process.
• Investment Monitoring: Strickland Davis Advisors LLC will assist in monitoring the plan’s
investment options by preparing periodic investment reports that document investment
performance, consistency of fund management and conformation to the guidelines set forth in
the investment policy statement. The details of this aspect of service will be enumerated in the
engagement agreement between the parties.
Fiduciary Management Services
• Discretionary Management Services (offered through Savant Wealth Management): Strickland
Davis Advisors LLC recommends Savant Wealth Management to serve as the Plan’s investment
manager within the meaning of ERISA § 3(38). Savant Wealth Management provides
continuous and ongoing supervision over the designated retirement plan assets. Savant Wealth
Management will actively monitor the designated retirement plan assets and provide ongoing
management of the assets. When applicable, Savant Wealth Management will have
discretionary authority to make all decisions to buy, sell or hold securities, cash or other
investments for the designated retirement plan assets in their sole discretion without first
consulting with the Plan Fiduciaries. Savant Wealth Management also has the power and
authority to carry out these decisions by giving instructions, on your behalf, to brokers and
dealers and the qualified custodian(s) of the Plan for our management of the designated
retirement plan assets.
• Investment Management via Model Portfolios (offered through Savant Wealth Management):
Savant Wealth Management will provide discretionary management of Model Portfolios among
which the participants may choose to invest as Plan options. Plan Participants will also have
the option of investing only in options that do not include Model Portfolios (i.e., the Plan
Participants may elect to invest in one or more of the mutual fund options made available in
the Plan, and choose not to invest in the Model Portfolios at all).
Non-Fiduciary Services
• Participant Education and Enrollment: Strickland Davis Advisors LLC will provide education
services to Plan Participants about general investment principles and the investment
alternatives available under the Plan. Education presentations will not take into account the
individual circumstances of each Plan Participant and individual recommendations will not be
provided unless a Plan Participant separately engages Strickland Davis Advisors LLC for such
services. Plan Participants are responsible for implementing transactions in their own
accounts.
Strickland Davis Advisors LLC will also assist with group enrollment meetings designed to
increase retirement Plan participation among employees and investment and financial
understanding by the employees.