Purkiss Capital Advisors, LLC (Purkiss Capital, the “Firm,” “we,” “us,” “ours”) is a Connecticut
limited liability company that was founded in March 2003 and has been registered as an
investment adviser since 2003. From September 2001 to March 2003, Purkiss Capital Advisors, LLC
operated under the entity Purkiss Capital Advisors, Inc.
The principal owner of Purkiss Capital is R. Allen Purkiss.
Advisory Services
Purkiss Capital is an investment adviser providing financial planning, consulting, and investment
management services.
Investment Management Services
Clients can engage Purkiss Capital to manage all or a portion of their assets on a discretionary
basis. Purkiss Capital primarily allocates clients’ investment management assets among mutual
funds, exchange traded funds (ETFs), and individual debt and equity securities in accordance with
the investment objectives of the client. Purkiss Capital also provides advice about any type of
investment held in clients’ portfolios.
Purkiss Capital tailors its advisory services to the individual needs of clients. Purkiss Capital ensures
that clients’ investments are suitable for their investment needs, goals, objectives and risk
tolerance.
Clients are advised to promptly notify Purkiss Capital if there are changes in their financial
situation or investment objectives or if they wish to impose any reasonable restrictions upon
Purkiss Capital’s management services.
Financial Planning Services
For clients engaging in our financial planning services, a financial plan will be developed by
reviewing a client’s current financial situation. A review may include the following components:
cash management, risk management, insurance, education funding, goal setting, retirement
planning, estate and charitable giving planning, tax planning, and capital needs planning. The fee
for financial planning services on a stand-alone basis will depend on the complexity of the client’s
circumstances.
For investment management clients, financial planning may be offered as a component of the
overall investment advisory services, therefore, Purkiss Capital does not charge investment
management clients a separate fee for financial planning services.
Account Aggregation Services
Purkiss Capital also offers account aggregation services through a third-party vendor (ByAll). These
account aggregation services allow Purkiss Capital to have access to the information in accounts
that are not managed by Purkiss Capital on the Fidelity platform (“Outside Accounts”). The benefit
of this service is that it allows Purkiss Capital to provide recommendations on a client’s portfolio
based on the totality of the client’s investments (i.e., not just based on those accounts managed by
Purkiss Capital at Fidelity). It also allows Purkiss Capital to provide clients with portfolio
management and performance reporting for all of the client’s accounts.
Under no circumstances, however, will Purkiss Capital have discretionary or non-discretionary
management over the assets in the Outside Accounts as this service is for information and
reporting purposes only.
Consulting Services
Purkiss Capital offers consulting services to clients which will include a review of their individual or
household portfolio. This service will consist of a written report containing analysis and
observations regarding the current status of the client’s portfolio. The scope of any investment
advice will be limited to this single review and not as part of any ongoing relationship. The client
will sign an agreement for this service. Should the individual or household become client of Purkiss
Capital in accordance with the Investment Management Agreement, any fees associated with this
service will be waived.
Other Investment Advisors
In certain circumstances, Purkiss Capital uses other investment advisory
firms to sub-advise on a
component of select clients’ portfolios; clients acknowledge the services and fees provided by sub-
advisory firms in writing.
Client Tailored Services and Client Imposed Restrictions
As detailed above, Purkiss Capital tailors its advisory services to the individual needs of clients.
Purkiss Capital ensures that clients’ investments are suitable for their investment needs, goals,
objectives and risk tolerance.
Generally, clients are permitted to impose reasonable restrictions on investing in certain securities
or types of securities in their advisory accounts, provided, however, that some restrictions may not
be accommodated when utilizing Exchange Traded Funds or mutual funds. In addition, a restriction
request may not be honored if it is fundamentally inconsistent with Purkiss Capital’s investment
philosophy, runs counter to the client’s stated investment objectives, or would prevent Purkiss
Capital from properly servicing client accounts.
Fiduciary Statement
We are fiduciaries under the Investment Advisers Act of 1940 and when we provide investment
advice to you regarding your retirement plan account or individual retirement account, we are also
fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act, (“ERISA”)
and/or the Internal Revenue Code, (“IRC”), as applicable, which are laws governing retirement
accounts.
We have to act in your best interest and not put our interest ahead of yours. At the same time, the
way we make money creates some conflicts with your interests. We must take into consideration
each client’s objectives and act in the best interests of the client. We are prohibited from engaging
in any activity that is in conflict with the interests of the client. We have the following
responsibilities when working with a client:
• To render impartial advice;
• To make appropriate recommendations based on the client’s needs, financial
circumstances, and investment objectives;
• To exercise a high degree of care and diligence to ensure that information is presented in
an accurate manner and not in a way to mislead;
• To have a reasonable basis, information, and understanding of the facts in order to provide
appropriate recommendations and representations;
• Disclose any material conflict of interest in writing; and
• Treat clients fairly and equitably.
Regulations prohibit us from:
• Employing any device, scheme, or artifice to defraud a client;
• Making any untrue statement of a material fact to a client or omitting to state a material
fact when communicating with a client;
• Engaging in any act, practice, or course of business which operates or would operate as
fraud or deceit upon a client; or
• Engaging in any manipulative act or practice with a client.
We will act with competence, dignity, integrity, and in an ethical manner, when working with
clients. We will use reasonable care and exercise independent professional judgement when
conducting investment analysis, making investment recommendations, trading, promoting our
services, and engaging in other professional activities.
Wrap Fee Programs
Under a wrap fee program, advisory services (which may include portfolio management or advice
concerning the selection of other investment advisers) and transaction services (e.g., execution of
trades) are provided for one fee. This is different from traditional investment management
programs whereby services are provided for a fee, but transaction services are billed separately on
a per-transaction basis.
Purkiss Capital does not provide portfolio management services to a wrap fee program(s).
Assets Under Management
As of December 31, 2023, Purkiss Capital had $514,181,672 assets under management; all assets
are managed on a discretionary basis.