Investment Advisory Group, LLC (“Investment Advisory Group” or the “Advisor”) is a registered investment
advisor with the U.S. Securities and Exchange Commission (“SEC”). The Advisor has been in business since
1998. Investment Advisory Group is a limited liability company (“LLC”) in the Commonwealth of
Massachusetts that was formed in 2003. Certain Advisory Persons of Investment Advisory Group provide
advisory services under a practice name or “doing business as” name of Maritime Wealth Advisors LLC.
However, advisory services are engaged exclusively through Investment Advisory Group. Additional
information about Investment Advisory Group and its Advisory Persons is available on the SEC’s website at
www.adviserinfo.sec.gov by searching with the Advisor’s firm name or CRD# 109445. The Principal Owners
and Managing Partners are Jay Richards, CFP® (Partner, Chief Compliance Officer) and George McCall, CFP®
(Partner). This Disclosure Brochure provides information regarding the qualifications, business practices, and
the advisory services provided by Investment Advisory Group. Investment Advisory Group provides advisory
services to individuals, high net worth individuals, trusts, estates and charitable organizations (each 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 potential conflicts of interest. Investment Advisory Group’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.
Investment Advisory Group serves as a financial planner on behalf of its Clients either as a component of
investment management services or as a standalone service. Investment Advisory Group provides advice
through consultations in the form of a financial plan. Any Client requiring this type of service may receive a
formal financial plan, providing the Client with a financial blueprint designed to help achieve their stated
financial goals and objectives. Certain financial planning engagements have a less formal output. There can be
no assurances that goals will be met through a financial plan. In general, a financial plan will address any or all
of the following areas: Personal, Business, Tax and Cash Flow, Death and Disability, Retirement, Investments,
Estate.
Investment Advisory Group will gather required information through in-depth interviews with Clients with
particular attention to Client goals and attitudes toward risk. The Advisor may also require the Client to provide
certain documents and/or complete certain questionnaires in order to gain a full understanding of the Client’s
financial situation. 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 investment 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.
Investment Advisory Group provides customized investment advisory solutions for its Clients. This is achieved
through continuous personal Client contact and interaction while providing discretionary investment
management and financial planning services. Investment Advisory Group works closely with each Client to
identify their investment goals and objectives as well as risk tolerance and overall financial situation in order to
create a portfolio strategy. Investment Advisory Group will then construct an investment portfolio consisting
primarily of diversified mutual funds and exchange-traded funds (“ETFs”) or fixed income. The Advisor may
also utilize other types of investments on a case-by-case basis. The Advisor may retain legacy positions held by
the Client due to tax considerations.
Investment Advisory Group 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, Investment Advisory Group will select, recommend and/or retain a mutual fund share class
that does not have trading costs, but do have higher internal expense ratios than institutional share classes.
Investment Advisory Group will seek to select the lowest cost share class available that is in the best interest
of
each Client and will ensure the selection aligns with the Client’s financial objectives and stated investment
guidelines.
Investment management is determined by the stated objectives of the Client (Aggressive Growth, Growth,
Conservative, Balanced, Preservation, or Fixed Income). Various investment strategies are used in the
management of the account[s]. Investment Advisory Group is free to use investment models or use its own
research methods and management styles to create a customized portfolio strategy. Investment Advisory
Group’s investment strategies are primarily long-term focused, but the Advisor may buy, sell or re-allocate
positions that have been held less than one year to meet the objectives of the Client or due to market conditions.
Investment Advisory Group 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
place reasonable restrictions on the types of investments to be held in their respective portfolio, subject to
acceptance by the Advisor.
Investment Advisory Group evaluates and selects investments for inclusion in Client model portfolios only after
applying its internal due diligence process. Investment Advisory Group may recommend, on occasion,
redistributing investment allocations to diversify the portfolio. Investment Advisory Group may recommend
specific positions to increase sector or asset class weightings. The Advisor may recommend employing cash
positions as a possible hedge against market movement. Investment Advisory Group 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.
Investment Advisory Group will not accept custody for any accounts of its Clients, except for the limited
authority as outlined in Item 15 – Custody. All Client assets will be managed within the designated brokerage
account[s] at the Custodian, pursuant to the terms of the advisory agreement. Please see Item 12 – Brokerage
Practices. authorized deduction of its investment management fees from Client accounts.
Retirement Accounts – When deemed to be in the Client’s best interest, the Advisor will provide investment
advice to a Client regarding 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
Investment Advisory Group 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 management 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
Clients 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).
Investment Advisory Group does not manage or place Client assets into a wrap fee program. Investment
management services are provided directly by Investment Advisory Group.
As of December 31, 2023, Investment Advisory Group manages approximately $848,188,265 of Client assets,
all of which are managed on a discretionary basis. Clients may request more current information at any time by
contacting the Advisor.