Description of Firm
Marion Wealth Management, LLC, d/b/a Marion Wealth Management is a registered investment adviser primarily based in
Monroeville, PA. We are organized as a limited liability company ("LLC") under the laws of the State of PA. We are
primarily owned by Michael S. Marion and Jeffrey D. Lott.
The following paragraphs describe our services and fees. 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 Marion Wealth Management and the words "you," "your," and "client" refer to you as either
a client or prospective client of our firm.
Portfolio Management Services
We offer discretionary portfolio management services. Our investment advice is tailored to meet our clients' needs and
investment objectives.
If you participate in our discretionary portfolio management services, we require you to grant us discretionary authority to
manage your account. Subject to a grant of discretionary authorization, we have the authority and responsibility to
formulate investment strategies on your behalf. Discretionary authorization will allow us to determine the specific
securities, and the amount of securities, to be purchased or sold for your account without obtaining your approval prior to
each transaction. We will also have discretion over the broker or dealer to be used for securities transactions in your
account. Discretionary authority is typically granted by the investment advisory agreement you sign with our firm, a power
of attorney, or trading authorization forms.
You may limit our discretionary authority (for example, limiting the types of securities that can be purchased or sold for
your account) by providing our firm with your restrictions and guidelines in writing.
As part of our portfolio management services, in addition to other types of investments (see disclosures below in this
section), we may invest your assets according to one or more model portfolios developed by our firm. These models are
designed for investors with varying degrees of risk tolerance ranging from a more aggressive investment strategy to a more
conservative investment approach. Clients whose assets are invested in model portfolios may set restrictions on the
specific holdings or allocations within the model, such as the types of securities that can be purchased in the model by
providing us written notice related to these restrictions.
Pontera
We provide an additional service for accounts not directly held in our custody, where we may or may not have discretion,
and may leverage an Order Management System (Pontera) to implement asset allocation and opportunistic rebalancing
strategies on behalf of the client. These are primarily 401(k) accounts, HSA’s, and other assets we do not custody. We
regularly review the available investment options in these accounts, monitor them, and rebalance and implement our
strategies using different tools as necessary
If you elect to participate in this program, you will be notified via email when the Firm places trades through Pontera
implementing any and all changes to your account. The fees charged in these situations are the same as described in the
table below under “Fees and Compensation.” Fees are paid separately on the management of these “held away” assets
and clients may be provided an invoice describing the fees. Suitability documentation will be held with the Plan Custodian
and cannot be changed by the Firm.
a) Responsibilities of Marion Wealth Management. It is the responsibility of the Firm to establish and maintain
strategic direction of investment management and investment policy statement and to provide oversight for the
Sub-Advisors.
b) Responsibilities of Sub-advisors (Pontera). It is the responsibility of the subadvisor to implement the investment
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models appropriate for the investment policy statement. Sub-advisors are responsible for the day-to-day trading
activity in the accounts as well as monitoring the portfolios alignment to the investment policy statement. Sub-
advisors may also facilitate billing of investment accounts for investment advisory fees. Sub-advisors will typically
have clerical responsibility for account billing and will therefore have the Client accounts charged the
corresponding fees. Subadvisors then, retain the sub-advisor fee and distribute the Marion Wealth Management
Advisory fee to the firm.
a. Pontera – A clerical service that facilitates communications of orders from the Firm to held away
accounts i.e., employer sponsored retirement plans like 401(k)’s. Pontera enables Marion Wealth
Management to make strategic and tactical changes in investment accounts not held at the Firm’s
custodian. Pontera does not handle billing of accounts and fees must be paid through separate billing
process.
529 Plans, HSA Plans, Annuities, Life Insurance and Others
Marion Wealth Management offers non-discretionary investment management services to advisory clients for specific 529
Plans. Marion Wealth Management will review and analyze 529 Plan portfolios and/or investment options then select the
option determined by the accounts written investment policy. 529 Plans are established and administered by individual
States, the State Administrator appoints a program manager to provide products and investment options. The Plan’s
investment advisor (i.e.., portfolio manager) appointed by the administrator (i.e., the State) is responsible for providing the
investment options and/or managing the portfolios directing the sale of the underlying funds in which they invest. Some
plan portfolios rebalance at the instruction of the program manager, not Marion Wealth Management, in an effort to
maintain the portfolio's target asset allocation, described in Plan Guides.
You may work with our advisers in their separate capacity as insurance agents. When acting in this separate capacity as an
insurance agent, employees or supervised persons of Marion Wealth Management may recommend fixed or indexed
insurance products. We may recommend these products as part of an income and retirement planning strategy when it is
in the best interest of the client to do so. Clients will also have the option to purchase these products from another
insurance agent of their choosing. Please see Item 10 ‘Other Financial Industry Activities and Affiliations’ for more
information on commission-based compensation.
Additionally, we may advise you on various other types of accounts based on your stated goals and objectives. When we
provide this advice, we may bill on those other accounts from time to time.
Financial Planning Services
As part of our overall engagement which includes portfolio management, we offer financial planning services which typically
involve providing a variety of advisory services to clients regarding the management of their financial resources based
upon an analysis of their individual needs. These services can range from broad-based financial planning to consultative or
single subject planning. If you retain our firm for financial planning services, we will consult with you to gather information
about your financial circumstances and objectives. We may also use financial planning software to determine your current
financial position, and to define and quantify your long-term goals and objectives. Once we specify those long-term
objectives (both financial and non-financial), we may develop shorter-term, targeted objectives. Once we review and
analyze the information you provide to our firm and the data derived from our financial planning software, we may deliver
a written plan to you, designed to help you achieve your stated financial goals and objectives.
Financial plans are based on your financial situation at the time we present the plan to you, and on the financial
information you provide
to us. You must promptly notify our firm if your financial situation, goals, objectives, or needs
change.
Selection of Other Advisors
As part of our overall portfolio management strategy, we may recommend Sub-Advisors to manage all or a portion of your
account where the allocation meets the needs and investment objectives of clients. To the extent possible, MWM seeks to
assess the Sub-Advisors investment strategies, past performance, and risk results in relation to its clients’ individual
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portfolio allocations and risk exposure. MWM also takes into consideration each Sub-Advisor’s management style, returns,
reputation, financial strength, reporting, pricing, and research capabilities, among other factors.
On an ongoing basis, MWM monitors the performance of those accounts being managed by Sub-Advisors. MWM seeks to
ensure the Sub-Advisors strategies and target allocations remain aligned with clients’ investment objectives and overall
best interests. MWM will be responsible for the overall direct relationship with the Client and retains the authority to
terminate the Sub-Advisors relationship at MWM’s discretion.
Donor Advised Fund Services
For those clients with objectives focused on charitable giving, we may recommend establishing donor advised funds
through various third-party charitable programs. These funds will be managed in accordance with the specific investment
policies and guidelines of the applicable Charitable Platform. Clients will establish a donor advised account, transfer funds
earmarked for charitable donation and recognize a tax deduction in the year that funds are transferred into an account
opened on a Charitable Platform. The funds remain in such an account until the Client designates a charity, an amount, and
a date to donate to such charity. Under independent advisor programs established within each Charitable Platform, donors
nominate an independent investment adviser, including MWM, to manage accounts established on the Charitable
Platforms. If nominated, MWM will manage the donor's account pursuant to investment guidelines established by each
Charitable Platform.
Pension Consulting Services
We offer pension consulting services to employee benefit plans and their fiduciaries based upon the needs of the plan and
the services requested by the plan sponsor or named fiduciary. In general, these services may include an existing plan
review and analysis, plan-level advice regarding fund selection and investment options, education services to plan
participants, investment performance monitoring, and/or ongoing consulting. Our services are described in more detail
below:
Assessment and/or Monitoring of Investments: Your IAR will meet with you to gather information regarding the
Plan’s specific investment policies and specific objectives and assist in the development of a written Investment Policy
Statement (“IPS”) that is designed to meet the individualized needs of the Plan, the Participants, and the covered
employee workforce. An IAR will regularly meet with you, to deliver recommendations regarding the Plan Participant’s
contributions and allocations among investment options available within the Plan based upon the Plan Participant’s
stated financial circumstances, investment objectives and risk tolerance.
Selection of Investments: We will conduct an initial assessment of investment options for the Plan, including Qualified
Default Investment Alternatives and make recommendations when deemed appropriate by IAR on the investment
options available to Plan participants (which decision shall remain the sole and exclusive decision of the Client and/or
their delegate); advise the Client on the nature and composition of each investment option including its performance,
risk, investment style, and management so that the Client can satisfy itself that the investment options constitute a
“broad range of investment alternatives” within the meaning of Section 404(c) of ERISA.
Third Party Service Provider Liaison: IAR will act as liaison for the Plan and the Client on an as needed basis, when
dealing with the trustee, custodian, plan actuary and other third-party service providers as directed by client.
Vendor Review/Conversion: IAR will meet with the Client to assist with assessing current vendors identified and
selected by Client. IAR may also assist in the preparation of Request for Proposals (“RFPs”) from prospective new
vendors and may assist the Client in reviewing and comparing responses to RFPs. IAR may offer suggestions for
vendors who will provide fiduciary services under ERISA, including investment advice.
These pension consulting services will generally be non-discretionary and advisory in nature. The ultimate decision to act
on behalf of the plan shall remain with the plan sponsor or other named fiduciary.
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We may also assist with participant enrollment meetings and provide investment-related educational seminars to plan
participants on such topics as:
• Diversification
• Asset allocation
• Risk tolerance
• Time horizon
Our educational seminars may include other investment-related topics specific to the particular plan.
We may also provide additional types of pension consulting services to plans on an individually negotiated basis. All
services, whether discussed above or customized for the plan based upon requirements from the plan fiduciaries (which
may include additional plan-level or participant-level services) shall be detailed in a written agreement and will be
consistent with the parameters set forth in the plan documents.
We acknowledge our status as a fiduciary under ERISA solely with respect to the Services above that are deemed to be
fiduciary activities under ERISA. IAR’s fiduciary status is limited to the rendering of investment advice as defined in ERISA
Section 3(21)(A)(ii). IAR will not have or exercise any discretionary authority over the administration of the Plan. IAR is not
the “administrator” of the Plan (as defined in ERISA Section 3(16)(A)) and has no power to make decisions as to plan policy,
interpretations, practices, or procedures with respect to the Plan. Either party to the pension consulting agreement may
terminate the agreement upon written notice to the other party in accordance with the terms of the agreement for
services. The pension consulting fees will be prorated for the quarter in which the termination notice is given, and any
unearned fees will be refunded to the client.
Types of Investments
We offer advice on equity securities, corporate debt securities (other than commercial paper), certificates of deposit,
municipal securities, variable life insurance, variable annuities, mutual fund shares, United States government securities,
options contracts on securities, selection of other advisers, money market funds, alternative investments, real estate,
separately managed accounts (SMAs), REITs, derivatives, structured products, and ETFs.
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 conflict with the advice we give to other clients regarding the same security or
investment.
Assets Under Management
As of December 31, 2022, our Firm had client assets under management of $305,592,603 on a discretionary basis and
$27,512,751 on a non-discretionary basis.