CVIP provides wealth management services. Prior to engaging CVIP to provide investment advisory
services, the client is required to enter into one or more written agreements with CVIP setting forth the
terms and conditions under which CVIP renders its services (collectively the “Agreement”).
CVIP has been in business as an SEC registered investment adviser since April 23, 2009. Kenneth G.
Hobbs and Raymond M. Lombardo are the principal owners of CVIP.
As of March 26, 2024, CVIP had $94,081,152 of assets under management; $94,081,152 of which was
managed on a discretionary basis and $0 was managed on a non-discretionary basis.
This Disclosure Brochure describes the business of CVIP. Certain sections also describe the activities of
Supervised Persons. Supervised Persons are any of CVIP’s officers, partners, directors (or other persons
occupying a similar status or performing similar functions), or employees, or any other person who provides
investment advice on CVIP’s behalf and is subject to CVIP’s supervision or control.
Wealth Management Services
CVIP provides clients with wealth management services which include a broad range of comprehensive
financial planning and consulting services as well as discretionary and/or non-discretionary management
of investment portfolios. Clients can engage CVIP to manage all or a portion of their assets on a
discretionary or non-discretionary basis. As needed, CVIP will develop a comprehensive financial plan
and/or provide ongoing financial planning services which may take into consideration business planning,
investment, insurance, retirement, education, estate planning, and tax and cash flow needs of the client.
In performing its services, CVIP is not required to verify any information received from the client or from the
client’s other professionals (e.g., attorney, accountant, etc.) and is expressly authorized to rely on such
information. CVIP may recommend the services of itself, its Supervised Persons and/or other professionals
to implement its recommendations. Clients are advised that a conflict of interest exists if CVIP recommends
its own services or those offered by its Supervised Persons. The client is under no obligation to act upon
any of the recommendations made by CVIP under a financial planning or consulting engagement or to
engage the services of any such recommended professional, including CVIP or any of its Supervised
Persons. The client retains absolute discretion over all such implementation decisions and is free to accept
or reject any of CVIP’s recommendations. Clients are advised that it remains their responsibility to promptly
notify CVIP if there is ever any change in their financial situation or investment objectives for the purpose
of reviewing, evaluating, or revising CVIP’s previous recommendations and/or services.
CVIP primarily allocates clients’ investment management assets among mutual funds, exchange-traded
funds (“ETFs”), individual debt and equity securities and Independent Managers (as defined below), in
accordance with the investment objectives of the client. In addition, CVIP may recommend that clients
Clearview Investment Partners, LLC Disclosure Brochure
who are “accredited investors” as defined under Rule 501 of the Securities Act of 1933, as amended, invest
in private placement securities, which may include debt, equity, and/or pooled investment vehicles when
consistent with the clients’ investment objectives. CVIP also provides advice about any type of investment
held in clients' portfolios.
CVIP also can render non-discretionary investment management services to clients relative to variable
life/annuity products that they may own, their individual employer-sponsored retirement plans, or other
products that may not be held by the client’s primary custodian. In so doing, CVIP either directs or
recommends the allocation of client assets among the various investment options that are available with
the product. Client
assets are maintained at the specific insurance company or custodian designated by
the product.
CVIP tailors its advisory services to the individual needs of clients. CVIP consults with clients initially and
on an ongoing basis to determine risk tolerance, time horizon and other factors that may impact the clients’
investment needs. CVIP ensures that clients’ investments are suitable for their investment needs, goals,
objectives and risk tolerance.
Clients are advised to promptly notify CVIP if there are changes in their financial situation or investment
objectives or if they wish to impose any reasonable restrictions upon CVIP’s management services. Clients
may impose reasonable restrictions or mandates on the management of their account (e.g., require that a
portion of their assets be invested in socially responsible funds) if, in CVIP’s sole discretion, the conditions
will not materially impact the performance of a portfolio strategy or prove overly burdensome to its
management efforts.
Use of Independent Managers
As mentioned above, CVIP recommends that certain clients authorize the active discretionary management
of a portion of their assets by and/or among certain independent investment managers (“Independent
Managers”), based upon the stated investment objectives of the client. The terms and conditions under
which the client engages the Independent Managers are set forth in a separate written agreement between
CVIP or the client and the designated Independent Managers. CVIP renders services to the client relative
to the discretionary recommendation or selection of Independent Managers. CVIP also monitors and
reviews the account performance and the client’s investment objectives. CVIP receives an annual advisory
fee which is based upon a percentage of the market value of the assets being managed by the designated
Independent Managers.
When recommending or selecting an Independent Manager for a client, CVIP reviews information about
the Independent Manager such as its disclosure brochure and/or material supplied by the Independent
Manager or independent third parties for a description of the Independent Manager’s investment strategies,
past performance and risk results to the extent available. Factors that CVIP considers in recommending an
Independent Manager include the client’s stated investment objectives, management
style, performance, reputation, financial strength, reporting, pricing, and research. The investment
management fees charged by the designated Independent Managers, together with the fees charged by
the corresponding designated broker-dealer/custodian of the client’s assets, may be exclusive of, and in
addition to, CVIP’s investment advisory fee set forth above. As discussed above, the client may incur
additional fees than those charged by CVIP, the designated Independent Managers, and any corresponding
broker-dealer and custodian.
In addition to CVIP’s written disclosure brochure, the client also receives the written disclosure brochure of
the designated Independent Managers. Certain Independent Managers may impose more restrictive
account requirements and varying billing practices than CVIP. In such instances, CVIP may alter its
corresponding account requirements and/or billing practices to accommodate those of the Independent
Managers.
If CVIP refers a client to an Independent Manager where CVIP’s compensation is included in the advisory
fee charged by such Independent Manager and the client engages the Independent Manager, CVIP is
compensated for its services by receipt of a fee to be paid directly by the Independent Manager to CVIP in
accordance with the requirements of Rule 206(4)-3 of the Investment Advisers Act of 1940, as amended,
and any corresponding state securities laws, rules, regulations, or requirements. Any such fee is paid solely
from the Independent Manager’s investment management fee, and does not result in any additional charge
to the client.