A. Firm Information
Concurrent Investment Advisors, LLC (“Concurrent” or the “Advisor”) is a registered investment advisor with the
U.S. Securities and Exchange Commission (“SEC”). The Advisor is organized as a Limited Liability Company
(“LLC”) under the laws of the State of Delaware. Concurrent was founded in November 2022. Concurrent is a
wholly owned subsidiary of Concurrent Partnership Holdings, LLC, a Delaware entity. The Principal Officers of
Concurrent are Nathan M. Lenz (Founder) and Scott A. Steele (Founder).
This Disclosure Brochure provides information regarding the qualifications, business practices, and the advisory
services provided by Concurrent. For information regarding this Disclosure Brochure, please contact Courtney T.
Haddad (Chief Operating Officer and Chief Compliance Officer) at (813) 575-2652.
Advisory Persons of Concurrent may have their trade names (aka “doing business as name” or “DBA name”) and
logos are used for marketing purposes and may appear on marketing materials and/or Client statements. The
Form ADV 2B – Brochure Supplements for our Advisory Persons identify any DBA name utilized.
B. Advisory Services Offered
Concurrent offers advisory services to individuals, high net worth individuals, families, trusts, estates,
businesses, and retirement plans (each referred to as a “Client”).
The Advisor serves as a fiduciary to Clients, as defined under the applicable laws and regulations. As a fiduciary,
the Advisor upholds a duty of loyalty, fairness, and good faith towards each Client and seeks to mitigate conflicts
of interest. Concurrent’s fiduciary commitment is further described in the Advisor’s Code of Ethics. For more
information regarding the Code of Ethics, please see Item 11 – Code of Ethics, Participation or Interest in Client
Transactions and Personal Trading.
Wealth Management Services
Concurrent may provide Clients with wealth management services, which generally includes a broad range of
comprehensive financial planning and consulting services in connection with discretionary management of
investment portfolios. These services may also be offered on a stand-alone basis and are described below.
Investment Management Services – Concurrent provides customized investment management solutions for its
Clients. This is achieved through continuous personal Client contact and interaction while providing discretionary
or non-discretionary investment management and related advisory services. Concurrent works closely with each
Client to identify their investment goals and objectives as well as risk tolerance and financial situation in order to
design a portfolio strategy. Concurrent will then construct an investment portfolio, consisting of exchange-traded
funds (“ETFs”) and/or mutual funds to achieve the Client’s investment goals. The Advisor may also utilize
individual stocks, individual bonds, and other types of investments, as appropriate, to meet the needs of the
Client. The Advisor may retain certain legacy investments based on portfolio fit and/or tax considerations.
Concurrent will select, recommend and/or retain mutual funds on a fund-by-fund basis. Due to specific custodial
and/or mutual fund company constraints, material tax consideration, and/or systematic investment plans,
Concurrent will select, recommend and/or retain a mutual fund share classes that do not have trading costs when
possible. These will in most cases be institutional share classes but, in some cases, may be share classes with
higher internal expense ratios than institutional share classes. Concurrent will seek to select the lowest cost
share class available that is in the best interest of each Client weighing the expected investment pattern,
expense ratios and potential ticket charges, and will ensure the selection aligns with the Client’s financial
objectives and stated investment guidelines.
Concurrent’s investment approach is primarily long-term focused, but the Advisor may buy, sell or re-allocate
positions that have been held for less than one year to meet the objectives of the Client or due to market
conditions. Concurrent will construct, implement, and monitor the portfolio to ensure it meets the goals,
objectives, circumstances, and risk tolerance agreed to by the Client. Each Client will have the opportunity to
Page 5
place reasonable restrictions on the types of investments to be held in their respective portfolio, subject to
acceptance by the Advisor.
Concurrent evaluates and selects investments for inclusion in Client portfolios only after applying its internal due
diligence process. Concurrent may recommend, on occasion, redistributing investment allocations to diversify the
portfolio. Concurrent may recommend specific positions to increase sector or asset class weightings. The
Advisor may recommend employing cash positions as a possible hedge against the market movement.
Concurrent may recommend selling positions for reasons that include, but are not limited to, harvesting capital
gains or losses, business or sector risk exposure to a specific security or class of securities, overvaluation or
overweighting of the position[s] in the portfolio, change in risk tolerance of the Client, generating cash to meet
Client needs, or any risk deemed unacceptable for the Client’s risk tolerance.
Held-Away Accounts – The Advisor provides an additional service for accounts not directly held at the Advisor's
custodian as outlined in Item 12 – Brokerage Practices, but where the Advisor does have discretion, and may
leverage an Order Management System to implement tax-efficient asset location and opportunistic rebalancing
strategies on behalf of the Client. These are primarily 401(k) accounts, HSA’s, and other assets. The Advisor
reviews the available investment options in these accounts, monitor them, and rebalance and implement our
strategies in the same way we do other accounts, though using different tools as necessary.
Retirement Accounts – When deemed to be in the Client’s best interest, the Advisor will recommend that a Client
take a distribution from an ERISA sponsored plan or to roll over the assets to an Individual Retirement Accounts
(“IRAs”), or recommend a similar transaction including rollovers from one ERISA sponsored Plan to another, one
IRA to another IRA, or from one type of account to another account (e.g. commission-based account to fee-
based account). In such instances, the Advisor will serve as an investment fiduciary as that term is defined under
The Employee Retirement Income Security Act of 1974 (“ERISA”) and/or the Internal Revenue Code (“IRC”), as
applicable, which are laws governing retirement
accounts. Such a recommendation creates a conflict of interest if
the Advisor will earn a new (or increase its current) advisory fee as a result of the transaction. No client is under
any obligation to roll over a retirement account to an account managed by the Advisor.
Use of Independent Managers – Concurrent may recommend that Clients utilize one or more unaffiliated
investment managers or investment platforms (collectively “Independent Managers”) for all or a portion of a
Client’s investment portfolio, based on the Client’s needs and objectives. In certain instances, the Client may be
required to authorize and enter into an investment advisory agreement with the Independent Manager[s] that
defines the terms in which the Independent Manager[s] will provide its services. The Advisor will perform initial
and ongoing oversight and due diligence over each Independent Manager to ensure the strategy remains aligned
with the Client’s investment objectives and overall best interests. The Advisor will also assist the Client in the
development of the initial policy recommendations and managing the ongoing Client relationship. The Client,
prior to entering into an agreement with an Independent Manager, will be provided with the Independent
Manager's Form ADV Part 2A - Disclosure Brochure (or a brochure that makes the appropriate disclosures).
Financial Planning Services – Concurrent will typically provide a variety of financial planning and consulting
services to Clients either as a component of wealth management services or pursuant to a written financial
planning agreement. Services are offered in several areas of a Client’s financial situation, depending on their
goals and objectives. Generally, such financial planning services involve preparing a formal financial plan or
rendering a specific financial consultation based on the Client’s financial goals and objectives. This planning or
consulting may encompass one or more areas of need, including but not limited to, investment planning,
retirement planning, education savings, cash flow planning, charitable giving, estate planning, insurance needs,
and other areas of a Client’s financial situation.
A financial plan developed for or financial consultation rendered to the Client will usually include general
recommendations for a course of activity or specific actions to be taken by the Client. For example,
recommendations may be made that the Client start or revise their investment programs, commence, or alter
retirement savings, establish education savings and/or charitable giving programs. Concurrent may also refer
Clients to an accountant, attorney, or other specialists, as appropriate for their unique situation. For certain
financial planning engagements, the Advisor will provide a written summary of the Client’s financial situation,
Page 6
observations, and recommendations. For project-based or ad-hoc engagements, the Advisor may not provide a
written summary. Project-based financial plans or consultations are typically completed within six (6) months of
contract date, assuming all information and documents requested are provided promptly.
Financial planning and consulting recommendations pose a conflict between the interests of the Advisor and the
interests of the Client. For example, the Advisor has an incentive to recommend that Clients engage the Advisor
for wealth management services or to increase the level of investment assets with the Advisor, as it would
increase the amount of advisory fees paid to the Advisor. Clients are not obligated to implement any
recommendations made by the Advisor or maintain an ongoing relationship with the Advisor. If the Client elects
to act on any of the recommendations made by the Advisor, the Client is under no obligation to implement the
transaction through the Advisor.
Retirement Plan Advisory Services
Concurrent provides both discretionary and non-discretionary retirement plan advisory services on behalf of the
retirement plans (each a “Plan”) and the company (the “Plan Sponsor”). The Advisor’s retirement plan advisory
services are designed to assist the Plan Sponsor in meeting its fiduciary obligations to the Plan and its Plan
Participants. Each engagement is customized to the needs of the Plan and Plan Sponsor. Services generally
include:
• Vendor Analysis
• Plan Participant Enrollment and Education Tracking
• Investment Policy Statement (“IPS”) Design and Monitoring
• Investment Monitoring and Oversight
• Performance Reporting
• Ongoing Investment Recommendation and Assistance
• ERISA 404(c) Assistance
• Benchmarking Services
These services are provided by Concurrent serving in the capacity as a fiduciary under the Employee Retirement
Income Security Act of 1974, as amended (“ERISA”). In accordance with ERISA Section 408(b)(2), the Plan
Sponsor is provided with a written description of Concurrent’s fiduciary status, the specific services to be
rendered and all direct and indirect compensation the Advisor reasonably expects under the engagement.
C. Client Account Management
Prior to engaging Concurrent to provide advisory services, each Client is required to enter into a written advisory
agreement with the Advisor that define the terms, conditions, authority, and responsibilities of the Advisor and the
Client. These services may include:
• Establishing an Investment Strategy – Concurrent, in connection with the Client, will develop a strategy
that seeks to achieve the Client’s goals and objectives.
• Asset Allocation – Concurrent will develop a strategic asset allocation that is targeted to meet the
investment objectives, time horizon, financial situation, and tolerance for risk for each Client or unique
client goal.
• Portfolio Construction – Concurrent will develop a portfolio for the Client that is intended to meet the
stated goals and objectives of the Client.
• Wealth Management and Supervision – Concurrent will provide wealth management and ongoing
oversight of the Client’s investment portfolio.
D. Wrap Fee Programs
Concurrent acts as portfolio manager for and sponsor of a wrap fee program, which is an investment program
where the client pays one stated fee that includes management fees, transaction costs, and certain other
administrative fees.
Page 7
E. Assets Under Management
Effective December 31, 2023, the Advisor manages $ 4,692,725,941 in Client assets on a discretionary basis
and $ 1,564,241,980 on a non-discretionary basis. Clients may request more current information at any time by
contacting the Advisor.