About Us
Jessup Wealth Management is a registered investment adviser, offering financial planning and asset
management services to clients. Jessup Wealth Management has been in business since 2009, and its
principal owners are Mark McEvily and Matthew Jessup.
This Brochure is designed to provide detailed and clear information relating to each item noted in the
table of contents. Certain disclosures are repeated in one or more items, and/or other items are
referred to in an effort to be as comprehensive as possible on the broad subject matters discussed.
Within this Brochure, certain terms in either upper- or lowercase are used as follows:
“We,” “us,” and “our” refer to Jessup Wealth Management.
“Advisor” refers to persons who provide investment recommendations or advice on behalf of
Jessup Wealth Management.
“You,” “yours,” and “client” refer to clients of Jessup Wealth Management and its advisors.
Description of Services Available
Jessup Wealth Management offers a suite of investment advisory services and programs to its advisors
for use with their clients. Our investment advisory services and programs are designed to accommodate
a wide range of client investment philosophies, goals, needs, and investment objectives. Through these
various advisory programs and services, clients have access to a wide range of securities products,
including, but not limited to, common and preferred stocks; municipal, corporate, and government fixed
income securities; mutual funds; exchange-traded products (“ETPs”); options and derivatives; unit
investment trusts (“UITs”); and variable and fixed-indexed insurance products, as well as other products
and services, including a variety of asset allocation services, financial planning, and consulting services.
Our advisors may also offer advice related to direct participation programs, private placements, and
other alternative investments, such as alternative energy programs, research and development
programs, leasing programs, real estate programs, and pooled commodities futures programs.
Jessup Wealth Management offers the following programs:
Financial Planning Services
Jessup Wealth Management’s advisors provide advisory consulting services on a wide range of topics,
including, but not limited to, comprehensive financial planning, risk management and insurance
planning, banking and credit management, budgeting and cash flow analysis, major purchases,
education planning, retirement income/longevity planning, portfolio analysis, estate planning analysis
(including planning for incapacity), charitable giving planning, executive compensation planning, debt
extinguishment planning, investment analysis, business succession planning, and fringe benefit analysis.
Our financial planning process begins with a consultation to determine your assets, liabilities,
investment objectives, present and future foreseeable financial obligations, income, and risk tolerance.
Using this information, we will create a financial plan consistent with your needs. When the plan is
completed, we will meet with you to present the plan and answer any question you may have. You may
also engage us for an annual update of your financial plan. The fees for both the initial plan and
subsequent annual updates (if desired) are listed in Item 5 of this brochure.
Commonwealth Programs
Jessup Wealth Management has entered into an agreement to offer clients access to certain programs
offered by Commonwealth Financial Network (“Commonwealth”), an SEC-registered investment adviser
to offer certain investment advisory programs sponsored by Commonwealth. Specifically,
Commonwealth’s Retirement Plan Consulting Program, PPS Custom Account Program and PPS Select
Account Program are available to our clients as appropriate for the client’s individual situation.
Retirement Plan Consulting: We provide a fee-for-service consulting program whereby our advisors
offer onetime or ongoing advisory services to qualified retirement plans. Qualified plan clients may
engage our advisors for Retirement Plan Consulting services on a negotiated hourly, flat, fixed, or asset-
based fee basis. The maximum annual consulting fee, when stated as a percentage of assets, is 1.50%
and is negotiable. Hourly fees may not exceed $500 per hour. It is the responsibility of the plan sponsor
to ensure these fees are reasonable. Fees may be paid at the time of service, in advance of service, or
after service has been rendered. Through the Retirement Plan Consulting Program, advisors assist plan
sponsors with their fiduciary duties and provide individualized advice based upon the needs of the plan
and/or plan participants regarding investment management matters, such as:
Investment policy statement support
Plan menu design and monitoring
Service provider support
Participant advice programs
Asset Management Services
PPS Custom: The PPS Custom Program enables an advisor to assist the client in developing a
personalized investment portfolio using one or more investment types, including, but not limited to,
stocks, bonds, mutual funds, exchange-traded funds (“ETFs”), UITs, variable and fixed-indexed annuities,
and alternative investments. The advisor typically acts as portfolio manager, with full investment
discretion, although clients may elect to have the advisor manage the account on a nondiscretionary
basis.
PPS Select: The PPS Select Program offers a variety of model portfolios from which investors may
choose. The PPS Select model portfolios are created and managed on a discretionary basis by
Commonwealth’s Investment Management and Research team. The client’s advisor will help the client
determine which PPS Select models are best suited for the client based on his or her risk profile,
investment objectives, and preferences, leaving the actual trading decisions to Commonwealth’s
Investment Management and Research team. PPS Select offers a variety of model portfolios with varying
investment product types, including mutual fund and ETF portfolios, equity portfolios, fixed income
portfolios, and variable annuity subaccount portfolios.
Clients who participate in one or more of Commonwealth’s programs will receive Commonwealth’s
Form ADV Part 2 and/or Wrap Fee Brochure, in addition to Jessup Wealth Management’s Form ADV Part
2. Clients should refer to Commonwealth’s Form ADV Part 2 and/or Wrap Fee Brochure for detailed
information about Commonwealth and Commonwealth’s programs.
Wrap Fee Programs
The PPS Custom and PPS Select programs sponsored by Commonwealth and offered by Jessup Wealth
Management are considered “wrap fee” programs in which the client pays a specified fee (known as a
“wrap fee”) for portfolio management services and trade execution. Wrap fee programs differ from non-
wrap fee programs in that the asset management fee structure for wrap programs is intended to be
largely all-inclusive, whereas non-wrap fee programs assess trade execution costs that are typically in
addition to the asset management fee.
For the investment advisory services provided to you by Jessup Wealth Management and your advisor,
Commonwealth, Jessup Wealth Management and your advisor receive a portion of the wrap fees you
pay. Commonwealth receives a higher portion of the wrap fees you pay when you participate in
Commonwealth’s PPS Select programs to compensate for the investment management and research
services provided by the Commonwealth Investment Management and Research team.
For more information relating to Commonwealth’s wrap fee programs, please refer to Appendix 1 of
Commonwealth’s Form ADV Part 2A brochure, titled “The Wrap Fee Program Brochure.”
Program Choices
The specific advisory program you select may cost you more or less than purchasing program services
separately. Factors that bear upon the cost of a particular advisory program in relation to the cost of the
same services purchased separately include, but may not be limited to, the type and size of the account;
the historical or expected size or number of trades for the account; the types of securities and strategies
involved; the amount of fees, commissions, and other charges that apply at the account or transaction
level; and the number and range of supplementary advisory and client-related services provided to the
account. Lower fees for comparable services may be available from other sources.
No Legal or Tax Advice
Investment recommendations and advice offered by Jessup Wealth Management and its advisors do not
constitute legal, tax, or accounting advice. Clients should coordinate and discuss the impact of the
financial advice they receive from their advisor with their attorney and accountant. Clients should also
inform their advisor promptly of any changes in their financial situation, investment goals, needs, or
objectives. Failure to notify the advisor of any material changes could result in investment advice not
meeting the changing needs of the client.
IRA Rollover Considerations
As part of our financial planning and advisory services, we may provide you with recommendations and
advice concerning your employer retirement plan or other qualified retirement account. When
appropriate, we may recommend that you withdraw the assets from your employer’s retirement plan or
other qualified retirement account and roll the assets over to an individual retirement account (“IRA”) to
be managed by our firm that we recommend. If you elect to roll the assets to an IRA under our
management, we will charge you an asset-based fee as described in Item 5. This practice presents a
conflict of interest because we have an incentive to recommend a rollover to you for the purpose of
generating compensation rather than solely based on your needs. You are under no obligation,
contractually or otherwise, to complete a rollover. Furthermore, if you do complete a rollover, you are
under no obligation to have your IRA assets managed by us. You have the right to decide whether to
complete the rollover to our firm and the right to consult with other financial professionals.
Some employers permit former employees to keep their retirement assets in their
company plan. Also,
current employees can sometimes move assets out of their company plan before they retire or change
jobs. In determining whether to complete the rollover to an IRA, and to the extent the following options
are available, you should consider the costs and benefits of each.
An employee will typically have four options:
1. Leave the funds in your employer’s (former employer’s) plan.
2. Roll over the funds to a new employer’s retirement plan.
3. Cash out and take a taxable distribution from the plan.
4. Roll the funds into an IRA rollover account.
Each of these options has advantages and disadvantages. Before making a change, we encourage you to
speak with your CPA and/or tax attorney.
Before rolling over your retirement funds to an IRA for us to manage, carefully consider the following.
NOTE: This list is not exhaustive.
1. Determine whether the investment options in your employer’s retirement plan address your
needs or whether other types of investments are needed.
a. Employer retirement plans generally have a more limited investment menu than IRAs.
b. Employer retirement plans may have unique investment options not available to the
public, such as employer securities or previously closed funds.
2. Your current plan may have lower fees than our fee.
a. If you are interested in investing only in mutual funds, you should understand the cost
structure of the share classes available in your employer’s retirement plan and how the
costs of those share classes compare with those available in an IRA.
3. You should understand the various products and services available through an IRA provider and
their costs.
4. It is likely you will not be charged a management fee and will not receive ongoing asset
management services unless you elect to have such services. If your plan offers management
services, the fee associated with the service may be more or less than our fee.
5. Our management strategy may have higher risk than the options provided to you in your plan.
6. Your current plan may offer financial advice, guidance, management and/or portfolio options at
no additional cost.
7. If you keep your assets titled in a 401(k) or retirement account, you could potentially delay your
required minimum distribution beyond age 73.
8. Your 401(k) may offer more liability protection than a rollover IRA; each state varies. Generally,
Federal law protects assets in qualified plans from creditors. Since 2005, IRA assets have been
generally protected from creditors in bankruptcies; however, there can be exceptions. Consult
an attorney if you are concerned about protecting your retirement plan assets from creditors.
9. You may be able to take out a loan on your 401(k), but not from an IRA.
10. IRA assets can be accessed any time; however, distributions are subject to ordinary income tax
and may also be subject to a 10% early distribution penalty unless they qualify for an exception
such as disability, higher education expenses or a home purchase.
11. If you own company stock in your plan, you may be able to liquidate those shares at a lower
capital gains tax rate.
12. Your plan may allow you to hire us or another firm as the manager and keep the assets titled in
the plan name.
It is important that you understand your options, their features, and their differences, and decide
whether a rollover is best for you. If you have questions, please discuss them with us prior to making a
decision on executing a rollover.
In addition to complying with applicable SEC rules, Jessup Wealth Management is subject to certain
rules and regulations adopted by the U.S. Department of Labor when we provide nondiscretionary
investment advice to retirement plan participants and IRA owners. When these DOL rules apply, our
advisors and Jessup Wealth Management are “fiduciaries,” for purposes of the Employee Retirement
Income Security Act of 1974 (“ERISA”), as amended, and the Internal Revenue Code of 1986 (“the
Code”), as amended. Therefore, Jessup Wealth Management and our advisors may not receive
payments that create conflicts of interest when providing fiduciary investment advice to plan sponsors,
plan participants, and IRA owners, unless we comply with a prohibited transaction exemption (“PTE”).
Jessup Wealth Management and our advisors will comply with ERISA and the Code by using PTE 2020-
02. As fiduciaries under ERISA and the Code, we render advice that is in plan participants’ and IRA
customers’ best interest. Jessup Wealth Management’s and our advisors’ status as an ERISA/Code
fiduciary is limited to ERISA/Code covered nondiscretionary advice and recommendations regarding
rolling over a retirement account and does not extend to all situations.
Individualized Services and Client-Imposed Restrictions
The investment advisory services provided by our advisors depend largely on the personal information
the client provides to the advisor. In order for our advisors to provide appropriate investment advice to,
or, in the case of discretionary accounts, make tailored investment decisions for, the client, it is very
important that clients provide accurate and complete responses to their advisor’s questions about their
financial condition, needs, goals, and objectives and notify the advisor of any reasonable restrictions
they wish to apply to the securities or types of securities to be bought, sold, or held in their managed
account. It is also important that clients promptly inform their advisor of any changes in their financial
condition, investment objectives, personal circumstances, or reasonable investment restrictions
pertaining to the management of their account, if any, that may affect their overall investment goals
and strategies or the investment advice provided or investment decisions made by their advisor.
Assets Under Management
As of December 31, 2023, Jessup Wealth Management manages $260,617,800.76 in assets. All assets
are managed on a discretionary basis.
Program Choice Conflicts of Interest
Clients should be aware that the compensation to Jessup Wealth Management and your advisor will
differ according to the specific advisory programs or services provided. This compensation to Jessup
Wealth Management and your advisor may be more than the amounts we would otherwise receive if
you participated in another program or paid for investment advice, brokerage, or other relevant services
separately. Lower fees for comparable services may be available through our firm or from other sources.
Jessup Wealth Management and your advisor have a financial incentive to recommend advisory
programs or services that provide us higher compensation over other comparable programs or services
available from our firm or elsewhere that may cost you less. For example, the costs you will incur to
have your account managed by our firm may be more than what other similar firms may charge. It’s
important to understand all the associated costs and benefits the program and services you select so
you can decide which programs and services are best suited for your unique financial goals, investment
objective, and time horizon. We encourage you to review our Form CRS and to discuss your options with
your advisor.
Factors that bear upon the cost of a particular advisory program in relation to the cost of the same
services purchased separately include, but may not be limited to, the type and size of the account; the
historical or expected size or number of trades for the account; the types of securities and strategies
involved; the amount of fees and other charges that apply at the account or transaction level; and the
number and range of supplementary advisory and client-related services provided to the account. Lower
fees for comparable services may be available from other sources. You are under no obligation to
engage us for services and are free to use the firm of your choice.
In addition, Commonwealth offers our firm and our advisors one or more forms of financial benefits
based on our total assets in Commonwealth’s PPS Program accounts, as well as financial assistance for
transitioning from another firm to Commonwealth. The types of financial benefits that your advisor may
receive from Commonwealth include, but are not limited to, forgivable or unforgivable loans, enhanced
payouts, and discounts or waivers on transaction, platform, and account fees; technology fees; research
package fees; financial planning software fees; administrative fees; brokerage account fees; account
transfer fees; licensing and insurance costs; and the cost of attending conferences and events. The
enhanced payouts, discounts, and other forms of financial benefits that your advisor may have the
opportunity to receive from Commonwealth provide a financial incentive for our firm and your advisor
to select Commonwealth as broker/dealer for your accounts over other broker/dealers from which they
may not receive similar financial benefits. Please see items 12 and 14 of this Brochure for more detailed
information about these types of conflicts and our relationship with Commonwealth.
Commonwealth charges our advisors an administrative fee at the same time clients are charged asset-
based fees for their managed accounts. The administrative fee is charged to and paid by the advisor
rather than the advisor’s clients and is calculated as a percentage of the total managed account assets,
including cash and money market positions, held by the advisor’s clients. The administrative fee is used
to offset Commonwealth’s maintenance costs associated with account reporting and reconciliation.
In the same manner as many advisors offer asset management fee discounts to their larger clients,
Commonwealth offers those advisors to whom it charges administrative fees discounts based on their
total assets under management. As these advisors grow their business, they are eligible for reduced
administrative fees. This potential reductions in administrative fees presents a conflict of interest
because it provides a financial incentive for advisors who receive the discounts to recommend
Commonwealth’s PPS programs over other available programs that do not offer such potential discounts
to the advisors.