ADVISORY SERVICES AND FEES
Heritage Investment Group, Inc. is a privately owned, fee-only SEC Registered Investment
Adviser providing investment and wealth management solutions to individuals, high net
worth investors, family trusts, charitable foundations, and qualified plans. Heritage was
founded in 1993 to serve the portfolio management needs of the clients of a well-established
estate planning law firm in South Florida. It has since grown to serve individual and
institutional clients throughout the country. We have experts in the areas of portfolio
management, tax management, and advanced wealth transfer planning. Our professionals
work as a team to create a unified wealth management experience. This allows you to achieve
your goals by alleviating the complexities of investing and by relying upon Heritage to act as
your financial director.
Heritage works for you on a fee-only basis. Unlike brokerage firms, we have no commission
incentive, nor any other compensation arrangements which could compromise our
objectivity. As a fiduciary, we are legally required to act in your best interest at all times.
The firm is owned by its principals, employees, family members or trusts for the benefit of
principal family members.
Heritage Owners:
1-Frederick R. MacLean, Jr. Revocable Trust; Frederick R. MacLean, Jr. and Laura MacLean-
Co-Trustees
2-MacLean Family Trust f/b/o Frederick R. MacLean III, Laura MacLean-Trustee
3-MacLean Family Trust f/b/o Madeline R. MacLean, Laura MacLean-Trustee
4-The Taylor Family Revocable Trust, Samuel Hardy Taylor and Heide R. Taylor-Co-Trustees
5-Timothy Glenn Slattery Revocable Trust, Timothy Glenn Slattery and Jenny Slattery-Co-
Trustees
6-Robert Ian McCarver and Tracy M. McCarver-Tenants by the Entirety
7-Teas Revocable Tenancy by the Entirety Trust dated 09/27/2011, David and Courtney
Teas, Co-Trustees
In addition to our SEC registration, we have filed our application to notice file as an
investment adviser with the State of Florida Office of Financial Regulation, in order to
provide the investment advisory products and services described within this document. We
are also notice filed with the States of Alabama, Arkansas, California, Colorado, Connecticut,
Delaware, District of Columbia, Georgia, Hawaii, Iowa, Louisiana, Maine, Maryland,
Massachusetts, Michigan, Mississippi, New Hampshire, New Jersey, New York, North
Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Wisconsin.
As of 12/31/2022, Heritage Investment Group, Inc. manages $1,502,109,626 of client assets
on a discretionary basis serving approximately 818 clients.
Heritage Investment Group, Inc., (“Heritage”) offers the following separate and distinct
investment advisory services to clients.
1. DISCRETIONARY INVESTMENT MANAGEMENT SERVICES:
Heritage provides discretionary professional investment management of a client’s individual
account(s) and can recommend any number of securities which meet your needs, risk
tolerance, objectives, net worth, income, and other relevant factors. Primarily, client
portfolios consist of select, Exchange Traded Funds (“ETFs”) and institutional mutual funds
(no-load) with various objectives. In addition, if in line with a client’s risk tolerance and
investment objective, we may recommend alternative
investments (e.g., hedge funds, private
equity, REITs, etc.). Our service (at a minimum) provides for an annual re-allocation of assets
and counseling with you. To enhance client asset security, Heritage will not act as a qualified
custodian holding your funds.
Please note that accounts with margin will be charged margin interest by their custodian
when clients utilize it for overdraft protection and/or when there is a trade date/settlement
mismatch for certain assets. As part of its investment management philosophy, Heritage does
not utilize leverage or borrowing as a tool to manage our client accounts. Additionally,
although we do not use lines of credit secured by your securities portfolio in our investment
process, upon request, we can assist you in negotiating rates with lender(s), should the need
arise.
2. MISCELLANEOUS SERVICES
It should be noted that, in prior years, Heritage offered 1) Non-Discretionary Investment
Consulting and Performance Measurement and 2) acted as a Solicitor for several other
Registered Investment Advisers located around the country. Heritage no longer offers these
services to new clients: however, by agreement and prior to elimination, some existing
clients remain with Heritage under these services.
3. TRUST PROTECTOR SERVICES
As part of our wealth management process, we offer trust protector services through our
affiliate, Heritage Trust Protector Services, LLC (“HTPS”). A trust protector is an entity
appointed in a trust document who has certain powers within the trust to help ensure the
grantor’s intent is carried out and that the best interests of beneficiaries are maintained. One
of the primary functions would be to remove and replace a trustee. Please see Item 10 for
more detailed information.
IRA Rollover
For the purpose of complying with the DOL's Prohibited Transaction Exemption 2020-02
("PTE 2020-02"), when applicable, we are providing the following acknowledgment to
clients. When we provide investment advice to clients regarding their retirement plan
account or individual retirement account, we are a fiduciary within the meaning of Title I of
the Employee Retirement Income Security Act and/or the Internal Revenue Code, as
applicable, which are laws governing retirement accounts. The way we make money creates
some conflicts with client interests. We operate under an exemption that requires we act in
the clients’ best interest and not put our or our employees’ interests ahead of the clients.
Under this exemption, we must:
• meet a professional standard of care when making investment recommendations
(give prudent advice),
• never put our or our financial interests ahead of the clients when making
recommendations (give loyal advice),
• avoid making misleading statements about conflict of interests, fees, and investments,
• follow policies and procedures designed to ensure that our and our employees give
advice that is in the clients’ best interest,
• charge no more than is reasonable for services, and
• give the clients basic information about conflict of interests.
We benefit financially from the rollover of the clients’ assets from a retirement account to an
account that we manage or provide investment advice, because the assets increase our assets
under management and, in turn, our advisory fees.