A. The Firm and its Owners
Personal CFO Solutions, LLC (“Personal CFO”, “Firm”, “we”, “us” or “our”), is a New Jersey limited
liability company that was formed in May 2011. Personal CFO is owned equally by John Vieira, Patrick
Nolan and Bryan Landadio.
B. The Firm’s Services
1. Financial Planning and Consulting
Personal CFO specializes in financial planning and consulting services. These services are comprised
of ongoing financial counseling services for clients which incorporate the following areas: investment
planning; income tax planning and preparation; estate planning & wealth transfer planning; employee
benefit elections; insurance reviews and recommendations; financing of purchases; and cash flow
modeling including retirement planning. We also provide various services relative to client assets not
under Personal CFO’s management, including reviewing and monitoring such assets, and various
activities related to such services.
Personal CFO provides services to its client via meetings where financial exhibits are presented,
discussed, and reviewed. Client meetings typically take place in person with the exception of
geographic challenges that preclude face to face meetings. In those instances, teleconferences are
utilized.
Typically, Personal CFO will assist the client with the implementation of the financial plan while
working with the client’s attorney, accountant, and/or insurance agent. The implementation of this
plan will generally take the form of the Portfolio Management services described below. Personal
CFO will also recommend the services of other professionals, such as tax, legal and mortgage
professionals. Personal CFO does not receive any compensation for such referrals. The client is under
no obligation to engage the services of any such recommended professional, and retains absolute
discretion over all such implementation decisions and is free to accept or reject any recommendation
from Personal CFO.
2. Discretionary Portfolio Management Services
Personal CFO’s portfolio management services involve providing discretionary investment advice
based on a client’s individual investment objectives and financial situation on an ongoing and
continuous basis. In conjunction with the financial planning services described above, Personal CFO
will interview clients and confirm their investor profile and risk tolerance. This profile will be openly
communicated and discussed with the client at scheduled meetings. Clients have the ability to change
their desired profile based upon market, economic and world events, as well as personal life events
such as a pending retirement.
Using the determined client profile, if suitable to the client’s investor profile, the Firm will recommend
Personal CFO Managed Portfolios (the “Program”) described in Form ADV Part 2A, Appendix 1
(“Wrap Fee Brochure”). The Personal CFO Managed Portfolios allocates client investable assets
among various investment company securities (such as mutual funds and ETFs).
As an alternative to the program, if suitable to the client’s investor profile, Personal CFO recommends
that its clients allocate investment assets on a discretionary basis to independent investment manager
programs offered through one or more independent managers (the “Independent Manager”). In the
event that an Independent Manager is utilized, the client will be required to execute a separate written
agreement with the Independent Manager (“Independent Manager Advisory Agreement”) and will
incur additional fees imposed directly by the Independent Manager.
Additionally, Financial Planning clients who have elected to not utilize
the Program or an Independent
Manager, as part of the ongoing financial planning services, will allow Personal CFO to recommend
and effect transactions on their behalf in their accounts on discretionary basis. These clients are
responsible for all brokerage fees.
A client or prospective client leaving an employer typically has four options regarding an existing
retirement plan (and may engage in a combination of these options): (i) leave the money in the former
employer’s plan, if permitted, (ii) roll over the assets to the new employer’s plan, if one is available
and rollovers are permitted, (iii) roll over to an Individual Retirement Account (“IRA”), or (iv) cash
out the account value (which could, depending upon the client’s age, result in adverse tax
consequences). When Personal CFO provides rollover advice to a client or prospect regarding a
retirement plan account or individual retirement account, Personal CFO is acting as 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. If Personal CFO recommends that
a client roll over their retirement plan assets or transfer an IRA into an account to be managed by
Personal CFO, and Personal CFO will earn an advisory fee on the rolled over assets, that
recommendation creates a conflict of interest. Accordingly, Personal CFO operates under a special
rule that requires Personal CFO to act in the client or prospects best interest and not put Personal
CFO’s interest ahead of the client’s or prospects. No client is under any obligation to roll over
retirement plan assets or transfer IRA assets to an account managed by Personal CFO. We are
available to address any questions that a client or prospective client may have regarding the conflict
of interest presented by such rollover recommendation.
3. 401k Consulting
The firm also occasionally acts as a 401k consultant for various 401k plans on a non-discretionary
basis. In providing 401k consulting services, the firm assists the client in determining risk tolerance
and investment objectives that are appropriate for each plan. This service is offered ancillary to the
Firm’s discretionary portfolio management service, and Personal CFO does not receive additional
compensation beyond that charged for its Personal CFO Managed Portfolios.
C. Miscellaneous Information About the Firm’s Services
In connection with the provision of Personal CFO’s services, Personal CFO tailors its advisory services
to the client’s individual needs. It does this by completing a client suitability assessment for each client,
and by maintain regular contact between Personal CFO and the client to ensure that the client’s goals and
risk tolerance are current. Clients can impose reasonable restrictions on Personal CFO’s services, which
can include restrictions on investing in certain securities or types of securities.
D. Wrap Fee Accounts
Personal CFO is the sponsor and manager of the Personal CFO Managed Portfolios Wrap Fee Program.
Wrap fee accounts and allocation decisions are managed primarily based upon input from the investment
management team. Other accounts are managed primarily by the Financial Advisor responsible for that
client. See Personal CFO’s Wrap Fee Brochure for additional details and Wrap Fee Specific disclosures.
Personal CFO receives a portion of the wrap fee for the management services provided to Personal CFO
Managed Portfolios.
E. The Firm’s Assets Under Management
As of December 31, 2023, Personal CFO’s had $1,166,285,610 in discretionary assets under management.