William Mack & Associates, Inc. (“WMA” or “Adviser”) is a fee-only Registered Investment
Adviser. WMA’s registration was granted by the U.S. Securities and Exchange Commission
(“SEC”) on September 3, 1992. William Mack (CRD Number 1434254) is the President of the
Adviser and owns 80% of the equity of the firm. Theodore Karl Bugenski (CRD Number
2167202) is Vice President of the Adviser and owns 20% of the equity of the firm. Dave Dickinson
(CRD Number 1688810) is the firm’s Chief Compliance Officer. The firm is not publicly owned
or traded. There are no indirect owners of the firm or intermediaries, which have any ownership
interest in the firm.
The term “fee-only” means WMA and its Adviser Representatives are compensated for services
via advisory fees paid by clients. WMA and its Adviser Representatives do not accept brokerage
or insurance commissions.
“Adviser Representatives” are those persons registered and authorized by WMA to provide
financial and investment advisory services on behalf of WMA.
WMA is not a broker/dealer or custodian. Client assets are managed on an individualized basis.
WMA does not sponsor or manage any wrap programs.
As of December 31, 2023, the firm managed, on a discretionary basis, $752,583,000 of client
assets which represented 849 accounts and managed, on a nondiscretionary basis, $2,200,000
which represented 3 accounts.
WMA may offer a complimentary general consultation to discuss financial and investment
advisory services available; to give a prospective client an opportunity to review services desired;
and to determine the possibility of a potential Client-Adviser relationship. WMA and its Adviser
Representatives may recommend the services of WMA. Clients are never obligated to engage
services after the complimentary consultation. Services begin only after the client and Adviser
formalize the relationship with a properly executed Client Agreement.
After the formal engagement and depending upon the scope of the engagement, the Adviser and
client will share in a data gathering and discovery process in an effort to determine the client’s
needs, goals, intentions, time horizons, risk tolerance and investment objectives, based upon
information provided by the client and the nature of services requested. The client and Adviser
may complete a risk assessment, investment policy statement or similar document, depending upon
the nature of services to be provided.
Investment Management and Planning Services
WMA offers a “Retainer Service,” whereby it provides ongoing investment management services
to clients on a discretionary or non-discretionary basis. This service includes ongoing investment
advice, investment tracking, performance monitoring, trade execution and financial planning. This
is WMA’s primary service offering.
Diversification, tax-efficiency, and low-cost investing are the cornerstones of WMA’s investment
philosophy. WMA utilizes actively managed and index mutual funds, as well as ETFs, when
crafting a portfolio strategy designed to help achieve a client’s stated specific goals and objectives,
based on their disclosed risk tolerance level. WMA will generally seek to allocate the client’s
assets among various investments, taking into consideration the overall management style and
portfolio framework selected by the client. WMA may utilize proprietary investment models as
described on pages 10-12 of this brochure. WMA attempts to construct a diversified portfolio of
investment recommendations that are within its realm of expertise. In each case, the stated
individual needs, goals and desires of clients are taken into consideration. The client may impose
reasonable restrictions on investing in certain types of securities by telling us verbally or in writing.
Where clients retain WMA on a non-discretionary basis, the client is welcome to implement
recommendations in whole or in part via the financial services provider(s) of their choice. When
providing advice on investments within retirement plans, the advice and any recommendations are
limited to plan offerings.
Clients engaging investment Advisory services must play an active role. The Adviser requires the
client to participate in the formation of the investment plan, the development of investment advice
and recommendations and the ongoing services provided. Clients may call the office during regular
business
hours to discuss their portfolio or ask questions, but the Adviser recommends that clients
initiate a meeting with the Adviser no less than annually. However, clients are obligated to
immediately inform the Adviser of any changes in their financial situation to provide the Adviser
with the opportunity to review the portfolio to ensure it is still structured to help meet the client’s
stated needs and objectives.
Retainer clients also receive WMA’s financial planning services in addition to investment
management. WMA is available to provide consultation in the areas of insurance, taxes, retirement,
college planning and estate planning. Depending on specific client needs, the Adviser will analyze
a client’s present position relative to his/her goals and objectives and make a recommendation on
how to achieve the client’s goals. Clients requiring assistance on issues relating to matters outside
of financial and investment advisory topics should consult their personal tax adviser, legal counsel,
or other professionals for expert opinions. WMA can prepare a financial plan or review an existing
plan and the client is welcome to implement recommendations in whole or in part, at their
discretion. Thereafter, plan reviews are available annually, at the request of the client during the
term of the management agreement.
In providing ongoing investment management services, WMA will manage investor funds in
accordance with the investment policy/strategy as selected by the client. WMA will provide
ongoing monitoring of the portfolio in accordance with the directives provided. The underlying
portfolio assets will be reviewed internally on a frequent basis (generally quarterly or more often),
depending upon the types of investments, market conditions, at the discretion of the Adviser, or as
may be specifically requested by the client. WMA also remains available by appointment during
the Adviser’s normal business hours, for consultations.
Financial Planning – Hourly Services
WMA also offers hourly-based financial planning services in the areas of insurance, taxes,
investment, retirement, college planning and estate planning. Depending on specific client needs,
the Adviser will analyze a client’s present position relative to his/her goals and objectives and
make a recommendation on how to achieve the client’s goals. Financial planning services are
hourly based and are not ongoing services.
WMA can tailor its planning services to include short-term and/or long-term goal planning as
directed by the client. When these planning services only focus on certain areas of client interests,
needs or is otherwise limited, clients must understand that a client’s overall financial and
investment needs and objectives may not be considered as a result of time and/or service restraints
placed on the Adviser’s services. Clients requiring assistance on issues relating to matters outside
of financial and investment advisory topics should consult their personal tax adviser, legal counsel,
or other professionals for expert opinions. When providing advice on investments within
retirement plans, the advice and any recommendations are limited to plan offerings.
Implementation of any advice or recommendations pertaining to securities or non-securities
matters (such as insurance), in whole or in part, is entirely at the client’s discretion via the service
provider(s) of the client’s choice.
Financial Planning Services generally utilize long-term strategies so that continuous monitoring is
not required. The advice provided by the Adviser may include recommendations for updates and
reviews. Clients are welcome but are never obligated to retain the Adviser for additional or follow-
up services. Where additional or new services are desired, WMA may require an amended or new
client agreement. Financial Planning Services will not include any portfolio monitoring,
investment reviews or investment management. Investment Management Services may be
available via a new client agreement.
Services to Other Registered Investment Advisers
In addition, the officers of WMA provide investment review and consultation services to an
affiliated Registered Investment Adviser. WMA provides back-office administration services to
this other firm. These professional firm services are separate and distinct from the services
provided by WMA to its clients.