S&S Wealth Management LP is a registered investment adviser firm with its principal place of business located in Texas.
The firm began conducting business in 2004. Listed below are the firm's principal shareholders:
• Stacey L. Smith, Partner, Chief Compliance Officer (CCO)
• Short Smith Management, Inc., General Partner
S&S Wealth Management LP provides investment advisory services specific to the needs of each client. Before providing
investment advisory services, an investment adviser representative will ascertain each client’s investment objective(s).
Thereafter, S&S Wealth Management LP shall allocate and/or recommend that the client allocate investment assets
consistent with the designated investment objective(s). The client may, at any time, impose reasonable restrictions, in
writing, on the Registrant’s services. S&S Wealth Management LP investment advisory services are as follows:
Investment Supervisory Services: Our firm provides continuous advice to a client regarding the investment of client funds
based on the individual needs of the client. Clients that enter into a contract with S&S Wealth Management LP will choose
an Investment Advisor Representative (IAR) to manage their accounts. Each IAR (representative) of our firm maintains and
operates his/her own book of business and, as such, clients are treated by the firm as clients of their respective IAR. IARs
have discretion to follow or recommend separate and distinct investment strategies to their clients that may differ from
strategies recommended to clients serviced by other IARs in the firm even though investment objectives and goals may be
similar.
In the event an IAR decides to leave the firm they have the opportunity under the terms of the IAR Relationship
Agreement to assign the client to another IAR in the firm upon approval of the Chief Compliance Officer (CCO).
Account Management: Clients can choose to have the IAR manage their advisory accounts on a discretionary or
nondiscretionary basis. Account supervision is guided by the client's stated financial situation and objectives. It is the
responsibility of the client to notify their IAR if there are any changes to their financial information or stated objectives
or any other changes that are relevant to the way their account is managed.
Clients may impose, in writing, reasonable restrictions on investing in certain securities, types of securities, or industry
sectors.
Our investment recommendations are not limited to any specific product or service offered by a broker-dealer or
insurance company and will generally include advice regarding the following securities:
• Exchange-listed securities
• Securities traded over the counter
• Warrants
• Certificates of deposit
• Municipal securities
• Variable life insurance
• Variable annuities
• Mutual fund shares
• United States governmental securities
• Options contracts on securities
Because some types of investments involve certain additional degrees of risk, they will only be implemented/
recommended when consistent with the client's stated investment objectives, tolerance for risk, liquidity and suitability.
Portfolio Activity and Construction: S&S Wealth Management LP has a fiduciary duty to provide service consistent with
the clients’ best interest. S&S Wealth Management LP representative shall manage client’s investment assets consistent
with Client’s investment objectives. A client’s investment holdings will differ based upon the client’s individual situation
and the individual representative (IAR)distinct investment strategies.
Independent Managers: S&S Wealth Management LP may direct client’s to unaffiliated Independent Investment
Manager(s) to manage all or a portion of the client’s assets in accordance with the client’s designated objective. The
Independent Manager(s) shall have day-to day responsibility for the active discretionary management of the allocated
assets. S&S Wealth Management LP will continue to render investment supervisory services to the client relative to the
ongoing monitoring and review of account performance, asset allocation and client investment objectives. Factors S&S
Wealth Management LP will consider in recommending Independent Manager(s) include the client’s designated
investment objective(s), management style, performance, reputation, financial strength, reporting, pricing and research.
Please Note: The investment management fee and/or platform fee charged by the Independent Manager and /or
platform sponsor, respectively, are separate from, and in addition to, S&S Wealth Management LP advisory fee as set
forth in the fee schedule at Item 5 below.
Personal Money Management Counseling: Personal Money Management Counseling and Personal Financial Analysis are
available for a fee. These fees are negotiated on a case by case basis depending on the complexity and time required for
the service requested. The fee will be disclosed and agreed by client before service without any obligation. In the
counseling sessions our approach is to gather information, so we can help the family or individual identify their unique
financial circumstances and objectives, create and design specific strategies to help fulfill their needs and goals, and help
in monitoring the plan financial software tools are used to create a variety of reports. Some of these services may be
provided to advisory clients at no charge.
S&S Wealth Management LP may also provide advisory consulting services to sponsors of participant directed retirement
plans. In so doing, the IAR shall generally assist the Plan Sponsor with the selection and monitoring of Plan investment
options from which the plan participants shall choose and provide corresponding participant general education sessions
designed to assist each participant with the investment decision-making process for his/her own individual self-directed
retirement account.
Miscellaneous:
Non-Investment Consulting/Implementation Services. To the extent requested by the client, S&S Wealth Management LP
may provide consulting services regarding non-investment related matters, such as estate planning, tax planning,
insurance, etc. Neither S&S Wealth Management LP nor any of its representatives, serves as an attorney or accountant
and no portion of S&S Wealth Management LP’s services should be construed as same. To the extent requested by a
client, S&S Wealth Management LP may recommend the services of other professionals for certain non-investment
implementation purposes (i.e. attorneys, accountants, insurance, etc.), including S&S Wealth Management LP Principal in
her separate registered/licensed/certified capacity as discussed below. The client is under no obligation to engage the
services of any such recommended professional. The client retains absolute discretion over all such implementation
decisions and is free to accept or reject any recommendation from S&S Wealth Management LP. Please Note: If the client
engages any such recommended professional, and a dispute arises thereafter relative to such engagement, the client
agrees to seek recourse exclusively from and against the engaged professional. Please Also Note: It remains the client’s
responsibility to promptly notify S&S Wealth Management LP if there is ever any change in his/her/its financial
situation or investment objectives for the purpose of reviewing/evaluating/revising S&S Wealth Management LP
previous recommendations and/or services.
Non-Discretionary Service Limitations. Clients that determine to engage S&S Wealth Management LP on a
nondiscretionary investment advisory basis must be willing to accept that S&S Wealth Management LP cannot affect any
account transactions without obtaining prior verbal consent to any such transaction(s) from the client. Thus, in the event
of a market correction during which the client is unavailable, S&S Wealth
Management LP will be unable to affect any
account transactions (as it would for its discretionary clients) without first obtaining the client’s verbal consent.
Cash Positions. At any specific point in time, depending upon perceived or anticipated market conditions/events (there
being no guarantee that such anticipated market conditions/events will occur), S&S Wealth Management LP maintains
cash positions for defensive purposes. All cash positions (money markets, etc.) shall be included as part of assets under
management for purposes of calculating S&S Wealth Management LP advisory fee. Please Further Note: When the
account is holding cash positions, those cash positions will be subject to the same fee schedule as set forth in Item 5. S&S
Wealth Management LP, Chief Compliance Officer, Stacey Smith, remains available to address any questions that a
client or prospective may have regarding the above fee billing practice.
Use of Mutual Funds/Exchange Traded Funds (ETF): Most mutual funds and ETF’s are available directly to the
public. Thus, a prospective client can obtain many of the funds that may be recommended and/or utilized by S&S
Wealth Management LP independent of engaging S&S Wealth Management LP as an investment advisor.
However, if a prospective client determines to do so, he/she will not receive S&S Wealth Management LP initial
and ongoing investment advisory services for those funds purchased independently.
Mutual Fund Share Class Selection Policy: S&S Wealth Management LP policy is to strive to purchase the most
appropriate share class of a mutual fund for client accounts. The custodian may offer multiple share classes of
certain mutual funds. In addition, the custodian may also offer both non-transaction fund (NTF Funds) and
transaction fee funds. NTF funds are available without transaction fee, but typically have a higher internal
expense ratio. Transaction fee funds generally have lower internal expense ratios but require that the client pay
a transaction fee to purchase and sell these funds. Certain transaction fee funds and NTF funds have minimum
investment amounts. S&S Wealth Management LP representative will seek to purchase the most appropriate
share class for clients depending upon evaluation of various factors, which should include at a minimum:
• Expense ratio, transaction fees or redemption fees of available share class
• The intended purchase amount and investment minimums and available waivers of investment
minimums
• Intended holding period of liquidity constraints
• Number of accounts for which the purchase will be made
There are various factors where S&S Wealth Management LP representative may purchase a more expensive
share class when a less expensive share class is available. This can happen but is not limited to when:
• The client requests a specific share class to avoid paying transaction fees
• The client desired adding to a current holding instead of purchasing a new mutual fund or different share
class of the same mutual fund; and
• The client has informed the representative of the need for liquidity in the immediate future and it might
be unreasonable to incur two sets of transaction fees in a relatively short period.
• The account is too small to justify the transaction fee.
S&S Wealth Management LP’s Chief Compliance Officer, Stacey Smith, remains available to address any
questions that a client or prospective client may have regarding the mutual fund share classes.
RETIREMENT ROLLOVERS-Please note Retirement Rollover-Potential conflict of Interest: A client or prospective
client leaving an employer typically has four options regarding an existing retirement plan (and may engage in a
combination of these options): (i) leave the money in his former employer’s plan, if permitted, ii) roll over the
assets to his/her new employer’s plan, if one is available and rollovers are permitted, iii) rollover to an individual
IRA account, or iv) cash out the account value (which could, depending upon the client’s age, result in adverse tax
consequences and penalties). Please Note if S&S Wealth Management LP recommends a client roll over their
retirement plan assets to an account advised by S&S Wealth Management LP., such a recommendation creates a
conflict of interest if S&S Wealth will earn (new or increase its current) compensation as a result of the rollover.
In contrast, a recommendation that a client or prospective client leave his or her plan assets with his or her old
employer or roll over the assets to a plan sponsored by a new employer will generally result in no compensation
to S&S Wealth Management LP (unless you engage S&S Wealth Management LP to monitor and/or advise on the
account while maintained with the client’s employer). S&S Wealth Management LP has an economic incentive to
encourage an investor to roll plan assets into an IRA that S&S Wealth Management LP will advise on or to engage
S&S Wealth Management LP to monitor and/or advise on the account while maintained with the client's
employer. There are various factors that S&S Wealth Management LP may consider before recommending a
rollover, including but not limited to: I) the investment options available in the plan versus the investment options
available in an IRA, ii) fees and expenses in the plan versus the fees and expenses in an IRA, iii) the services and
responsiveness of the plan’s investment professionals versus those of S&S Wealth Management LP, iv) protection
of assets from creditors and legal judgments, v) required minimum distributions and age considerations, and vi)
employer stock tax consequences, if any. When acting in such capacity, S&S Wealth serves as a fiduciary under
the Employee Retirement Income Security Act (ERISA), or the Internal Revenue Code, or both. No client is under
any obligation to roll over plan assets to an IRA advised by S&S Wealth Management LP or to engage S&S
Wealth Management LP to monitor and/or advise on the account while maintained with the client's employer.
S&S Wealth Management LP’s Chief Compliance Officer, Stacey Smith, remains available to address any
questions that a client or prospective client may have regarding the above and the corresponding conflict of
interest presented by such engagement.
Electronic Confirmations/Account Statements: Schwab will send your statements by postal mail or electronic
delivery. If email is provided on Schwab application or email is updated in Schwab system, Schwab will generally
send out an email to client to set up electronic delivery. To activate E-Delivery you will need to respond to this
email and follow Schwab’s instructions. If you do not receive an email it is the client’s responsibility to notify S&S
Wealth Management LP to have the email resent. S&S Wealth Management LP cannot set up E- Delivery for you.
Client Obligations. In performing its services, S&S Wealth Management LP shall not be required to verify any information
received from the client or from the client’s other professionals and is expressly authorized to rely thereon. Moreover,
each client is advised that it remains his/her/its responsibility to promptly notify S&S Wealth Management LP if there is
ever any change in his/her/its financial situation or investment objectives for the purpose of reviewing/evaluating/revising
S&S Wealth Management LP’s previous recommendations and/or services.
Disclosure Statement. A copy of S&S Wealth Management LP’s written Brochure as set forth on Part 2A of Form ADV shall
be provided to each client prior to, or contemporaneously with, the execution of the Investment Advisory Agreement.
Please Note: S&S Wealth Management LP does not participate in a wrap fee program.
Amount of Managed Assets: As of 03/25/2024, S&S Wealth Management LP was actively managing $123,321,711 of
clients' assets on a discretionary basis plus $3,621,270 of clients' assets on a non-discretionary basis.