Ullmann Wealth Partners Group, LLC is an investment adviser registered with the United States
Securities and Exchange Commission and based in Jacksonville Beach, Florida. Ullmann Wealth
Partners Group, LLC acquired the investment advisory business of Ullmann Wealth Partners, which
has been providing investment advisory services since 2002.
Ullmann Wealth Partners Group, LLC is managed by Glenn Ullmann, Brian James, Patrick Kilbane,
Carrie King, and Caitlin Frederick (“Ullmann Wealth Partners Group, LLC Principals”), pursuant to a
management agreement between ODYF LLC and Ullmann Wealth Partners Group, LLC. The
Ullmann Wealth Partners Group, LLC Principals serve as officers of Ullmann Wealth Partners Group,
LLC and are responsible for the management, supervision and oversight of Ullmann Wealth Partners
Group, LLC.
Ullmann Wealth Partners Group is part of the Focus Financial Partners, LLC (“Focus LLC”)
partnership. Specifically, Ullmann Wealth Partners Group is a wholly-owned indirect subsidiary of
Focus LLC. Ferdinand FFP Acquisition, LLC is the sole managing member of Focus LLC. Ultimate
governance of Focus LLC is conducted through the board of directors at Ferdinand FFP Ultimate
Holdings, LP. Focus LLC is majority-owned, indirectly and collectively, by investment vehicles
affiliated with Clayton, Dubilier & Rice, LLC (“CD&R”). Investment vehicles affiliated with Stone Point
Capital LLC (“Stone Point”) are indirect owners of Focus LLC. Because Ullmann Wealth Partners
Group is an indirect, wholly-owned subsidiary of Focus LLC, CD&R and Stone Point investment
vehicles are indirect owners of Ullmann Wealth Partners Group.
Focus LLC also owns other registered investment advisers, broker-dealers, pension consultants,
insurance firms, business managers and other firms (the “Focus Partners”), most of which provide
wealth management, benefit consulting and investment consulting services to individuals, families,
employers, and institutions. Some Focus Partners also manage or advise limited partnerships,
private funds, or investment companies as disclosed on their respective Form ADVs.
We offer three main services summarized below:
1. Wealth Management Services for Individuals and Families: Our Wealth Management Services
consist of Investment Management, Advanced Planning and Relationship Management
Services. We have provided additional information on these services below. The cornerstone
of our Wealth Management Services involve a series of action steps named the 360 Financial
Discipline Process, which are designed to determine your life goals and financial objectives.
We provide Investment Management Services based on your individual investment objectives
and risk tolerance with the goal of achieving a rate of return on the assets we manage to satisfy
your financial goals. Our Advanced Planning Services seek to address the following areas: (a)
Wealth Enhancement (increasing your cash flow, decreasing your taxes and decreasing your
debt), (b) Wealth Protection (Property and Casualty decisions, titling decisions and protecting
your assets), (c) Wealth Transfer (Working with your estate attorney to efficiently transfer
assets that you have built to the next generation/charities) and (d) Charitable Giving (making
charitable gifts as tax effective as possible). We designed our Relationship Management
Services to coordinate and consult, for your benefit, with other financial professionals in
disciplines that may include but are not limited to tax, estate planning, insurance and banking.
2. Divorce Advisory Services: We offer Divorce Advisory Services where we use a customized
process for high net worth individuals designed with a goal of maximizing the chances of
achieving the best possible outcome for clients going through a divorce. By using a network of
divorce attorneys, financial professionals, and a team of compassionate specialists, we help
guide our clients at every step on this often difficult journey. We also provide expert testimony
as needed at the request of our clients.
3. Education: Our goal is to teach clients how to achieve greater abundance, live a more
balanced life and increase knowledge continuously through our published books, such as,
Landing a Smooth Retirement and Move Forward Confidently. We also offer periodic monthly
newsletters as well as complimentary learning workshops on a variety of subjects throughout
the year.
The following paragraphs describe our services and fees. Please refer to the description of each
investment advisory service listed below for information on how we tailor our advisory services to your
individual needs.
The 360 Financial Discipline Process
As an integral part of our Wealth Management Services, our Advanced Planning and Relationship
Management Services typically involve providing a variety of services to clients regarding the
management of their financial resources based on an analysis of their individual needs. We utilize The
TM
360 Financial Discipline Process , a customized six-step process we have developed as described
below.
Step 1: Focal Point Interview: An IAR of our firm will conduct a complimentary Focal Point Interview.
During the Focal Point Interview, we will discuss seven major areas: Your values, your goals, your
family/close friends, your current professional team (CPA, estate attorney, insurance agent, investment
manager), your interests, your current assets, and the level of involvement you desire in the wealth
management process.
Step 2: Life Map Presentation/Investment Overview: Using the information we collect in response to
questions we pose to you in Step 1, we build a visual Life Map focusing on the areas outlined in Step 1
above. In addition, using account statements and tax returns provided in our first meeting, we create a
high level Executive Summary to identify any gaps in your current situation. At the end of Step 2,
having identified potential strengths and weaknesses in your current plan, we will offer our thoughts on
whether we believe that we can help improve those weaknesses now and into the future.
Step 3: Mutual Commitment Meeting. We will answer any further questions you may have and we will
discuss our Wealth Management agreement and fee schedule. Once you have executed the
agreement, we will proceed with requesting additional documents such as written permission to
interface with your other professional advisors, which will enable us to create your Abundant
Life /Wealth Management Plan.
Step 4: The Abundant Life /Wealth Management Plan. During Step 4, we will meet with you
(generally within four weeks of Step 3) to create and present a multi-layered wealth management plan
addressing all of your Investment Management, Advanced Planning and Relationship Management
goals.
Step 5: The Life Plan Engagement: During Step 5, once you have established your account(s) at
National Financial Services LLC or Fidelity Brokerage Services LLC (together with all affiliates,
“Fidelity”)
1 and have authorized us to manage your account, we will meet with you to explain account
statements, ensure your access to online statements and documents and begin to check off the item in
your Advanced Planning Chart, found in your Abundant LifeTM/Wealth Management Plan.
1 Under certain circumstances, we may permit clients to establish an account with an alternative qualified custodian.
For more information regarding Fidelity, please see Item 12 of this brochure.
Step 6: The Financial Progress Report: One of our IARs will periodically meet with you to evaluate the
elements of your plan and measure specific goals and milestones. During these meetings, we will also
present your Financial Progress ReportTM, which measures your current assets compared to year-end
goals.
Divorce Advisory Services
Our Divorce Advisory Services are designed to protect client's financial assets before, during, and after
a divorce. Divorce advisory services are provided by our team of Certified Divorce Financial Analysts®
(CDFATM), advisors, our on-staff legal consultant, and financial planners. These services are rendered
in 5 stages as described below.
Stage 1 (Envision): We hold an interview to learn about the prospective client's values, goals, interests,
family, current advisors, and current status of the divorce proceedings. If you decide to engage our firm,
we then collect the information we need to help you envision your future.
Stage 2 (Strategy): We regroup with a comprehensive financial strategy which specifically covers
day-to-day budgets and cash flow, long range investment options, liability protection, and legacy. We
help you and your attorney prepare necessary financial affidavits, and prepare potential settlement
scenarios.
Stage 3 (Mediation): In conjunction with your lawyer, we develop a game plan beforehand, participate in
mediation, and review potential settlement outcomes.
Stage 4 (Activation): In Stage 4, which occurs after the divorce is finalized, we will assist you in
changing accounts and policies (considering any tax issues) and help ensure that wills, trusts, and
beneficiary designations are updated. We also complete open items in your Abundant Life /Wealth
Management Plan during this step.
Stage 5 (Monitor): We monitor the plan's performance, measuring specific goals, milestones, and key
metrics against current data to create a comprehensive Financial Progress Report.
In most cases, Divorce Advisory clients also engage our firm to provide Wealth Management Services;
however, in our discretion, in select cases, we may only provide Divorce Advisory Services on a
consultative basis.
TM
We base our recommendations throughout the 360 Financial Discipline Process and Divorce
Advisory Services
on the client's financial situation and on financial information disclosed by the client.
We cannot offer any guarantees or promises that your financial goals and objectives will be met. As
your financial situation, goals, objectives or needs change, you must notify us promptly.
External Managers
We also offer externally managed accounts. If you engage us to provide services through an
unaffiliated investment adviser (“External Manager”), such as Bernardi Asset Management and
Vanguard Personalized Indexing Management, LLC, we will be unable to negotiate commissions and
transaction fees. The External Manager will typically determine the broker-dealer though which
transactions must be effected, and will be responsible for negotiating transaction fees and commissions
charged to your account, subject to their fiduciary duty. You may pay higher commissions, transaction
costs or spreads and receive less favorable prices on transactions for your account then if we were
responsible for trading. Higher transaction costs adversely impact account performance.
When we allocate client assets to External Managers, we, the client-facing adviser, are typically
responsible for assessing the client’s needs, communicating with the client, allocating (or
recommending the allocation of) the client’s assets and conducting due diligence and monitoring of the
client’s investments, while the External Manager is responsible for managing certain of the client’s
assets that we allocate to them in a manner consistent with the manager’s stated investment strategies
and in accordance with the guidelines we provide.
We have a business arrangement with SCS Capital Management LLC (“SCS”), who is an indirect,
wholly-owned subsidiary of Focus LLC, under which certain clients of Ullmann Wealth Partners have
the option of investing in certain private investment vehicles managed by SCS. Ullmann Wealth
Partners is an affiliate of SCS by virtue of being commonly controlled by Focus LLC. Please see Items
5, 10, and 11 of this Brochure for further details.
Stand Alone Consulting Services
In rare instances, we may also provide consulting related services on a project, monthly, quarterly,
semi-annual or annual basis, depending on the client's individual needs. We agree on the frequency of
the services provided in advance and detail them in the signed agreement for services. Services may
include, but are not limited to Divorce Advisory Services, a review of your existing portfolio with asset
allocation recommendations, a review and evaluation of recommendations made by other advisory
professionals for suitability, portfolio monitoring services, or expert witness testimony.
Consulting Services for Wealth Management Services Clients through Mutual Securities, Inc.
We provide investment consulting services to certain of our clients who maintain securities products,
particularly variable annuities, in accounts at Mutual Securities, Inc. that have provided written consent
to Mutual Securities, Inc. to share information with us. Our clients do not directly compensate us for
these services, but Mutual Securities, Inc. pays us a fee based on our clients’ Assets Under
Management on their platform who have consented to this arrangement. The consulting fee is
calculated based on the Assets Under Management as of the end of a calendar quarter period
multiplied by the annualized rate of 60 basis points. The initial fee is paid only after the completion of
one full calendar quarter period following the date of the executed agreement with Mutual Securities,
Inc.
This arrangement does not include our assuming discretionary authority over our clients’ brokerage
accounts or securities held with Mutual Securities, Inc. Instead, our services may include a general
review of a client’s investment holdings and we may render advice on the performance of their
securities or accounts generally, and the allocation of variable annuity subaccounts as well as advice
on guaranteed benefits under the existing contracts.
This relationship presents conflicts of interest because we stand to receive additional compensation
from Mutual Securities, Inc. that we would not otherwise be entitled to receive if you did not appoint us
to provide advice on your account. We mitigate this conflict of interest by disclosing it to you. We also
note that client fees for holding variable annuities are not increased under this arrangement with Mutual
Securities, Inc.
Newsletters and Market Commentary
We also provide periodic newsletters covering general market commentary and other general topics as
well as periodic educational seminars on a complimentary basis.
Investment Management
We provide ongoing management of your assets. Based on your Abundant LifeTM/Wealth Management
Plan and other information obtained throughout the 360 Financial Discipline ProcessTM, including
discussions that we have regarding, among other things, investment objective, risk tolerance, life values,
goals, investment time horizon, and overall financial situation, we construct a portfolio of investments for
you. This portfolio may consist of mutual funds, exchange traded funds (“ETFs”),equities, options, debt
securities, and other investments. Each portfolio is designed to meet your individual needs, stated goals
and objectives. In certain instances, we may recommend or use our discretion to select an External
Manager to manage all or a portion of your assets.
You will receive execution, clearing and custodial services through an independent custodian.
Fiduciary Status Acknowledgment
When we provide investment advice to you regarding your retirement plan account or individual
retirement account, we are fiduciaries within the meaning of Title I of the Employee Retirement Income
Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement
accounts. The way we make money creates some conflicts with your interests, so we operate under a
special rule that requires us to act in your best interest and not put our interest ahead of yours.
Types of Investments
We primarily offer advice on mutual funds and ETFs. As discussed above, we also offer Externally
Managed Accounts.
However, we may advise you on any type of investment that we deem appropriate based on your
stated goals and objectives. We permit clients to retain investments held prior to our engagement and
may also provide advice on these investments.
Clients may place reasonable restrictions on our ability to invest in specific securities or types of
securities held in their accounts.
From time to time, you may request or we may recommend that you invest in a fee-based annuity.
These products are “no load”—meaning we do not receive commissions when you purchase them.
Instead, we agree with clients to a management fee to manage/oversee these contracts. This fee is
documented in the account opening paperwork. This fee is paid directly out of the assets in the contract.
We may agree to a different fee for managing this product instead of the fee we charge you for
managing your other assets. The fees charged by the insurance company are described in the
prospectus and contract. The assets are held by the insurance company and not Fidelity. Our
management of these products are limited in some respects. We are only able to select investments
that are available through the contract and may only be able to select percentage allocations to
products as opposed to entering specific orders. As part of the application we choose a systematic
rebalancing to be done by the insurance carrier. The underlying investments and index allocations are
monitored on an ongoing basis. The client should review the prospectus carefully before investing.
We may invest clients in mutual funds issued by Dimensional Fund Advisors (“DFA”), which are
generally only available through registered investment advisers. If you terminate our services, you may
be restricted in where you transfer your account and you may be required to sell your holdings if your
new financial advisor does not have a relationship with DFA, which could result in tax consequences.
We also may make available Quovo, which is an account aggregation service. In doing so, you may be
able to view a consolidated report of all of your assets, including ones that we do not manage (the
“Excluded Assets”). We are not responsible for the investment performance of the Excluded Assets.
UPTIQ
We offer clients the option of obtaining certain financial solutions from unaffiliated third-party financial
institutions through UPTIQ Treasury & Credit Solutions, LLC (together with UPTIQ, Inc. and its affiliates,
“UPTIQ”). Focus Financial Partners, LLC (“Focus”) is a minority investor in UPTIQ, Inc. UPTIQ is
compensated by sharing in the revenue earned by such third-party financial institutions for serving our
clients. Although the revenue paid to UPTIQ benefits UPTIQ Inc.’s investors, including Focus, our
parent company, no Focus affiliate will receive any compensation from UPTIQ that is attributable to our
clients’ transactions. Further information on this conflict of interest is available in Item 10 of this
Brochure.
Focus Risk Solutions
We help our clients obtain certain insurance solutions from unaffiliated, third-party insurance brokers by
introducing clients to our affiliate, Focus Risk Solutions, LLC (“FRS”), a wholly owned subsidiary of our
parent company, Focus LLC. Please see Items 5 and 10 for a fuller discussion of this service and other
important information.
Assets Under Management
As of January 1, 2024, we managed $867,610,164 in client assets on a discretionary basis and $9,506,839
in client assets on a non-discretionary basis.