A. OWNERSHIP/ADVISOR HISTORY
Tanager Wealth Management LLP (“Tanager” or the “Firm”) is a limited liability partnership
domiciled in the United Kingdom. It was established in July 2012. It subsequently became a
registered investment adviser with the Securities and Exchange Commission. Its partners are
Kristopher Heck, Alex Eichhorn, David Costello, Kyle Pettigrove, Abbas Somji and Patrick
Mulhern.
B. ADVISORY SERVICES OFFERED
Prior to the Adviser-Client relationship, Tanager may offer a complimentary general
consultation to discuss services available, to give a prospective client time to review services
desired, and to determine the possibility of a potential relationship. Investment advisory
services begin only after the client and Tanager formalize the relationship by setting forth
the terms and conditions under which Tanager renders its services with a properly executed
Client Agreement (collectively the “Agreement”).
Tanager offers the following services:
i. PORTFOLIO MANAGEMENT SERVICES
At the beginning of the relationship Tanager will hold a meeting(s) with the client to collect
pertinent data, identify goals, objectives, financial concerns and potential solutions. The
result of these meetings will be a written wealth plan that typically focuses on one or more
specific areas such as financial and cash management, risk management, retirement
planning, goal setting, wealth management, or other needs identified by the client or by
our review of the client’s financial circumstances. At the conclusion of the meetings,
Tanager may make recommendations regarding implementation of the financial strategies
discussed.
After receiving the financial plan, Tanager and the client will create a customized portfolio
that Tanager will manage for the client. Similar to the unique written financial plan, Tanager
will work with the client to formulate an individualized portfolio based upon his/her
objectives, time frame, risk parameters and other investment considerations. The portfolio
may contain stocks, bonds, mutual funds, exchange traded funds or other investment
products that are agreed up by the client. Tanager will actively manage and review all
clients’ accounts, which means we review the accounts on a quarterly basis.
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ii. RECOMMENDATION OF INDEPENDENT MANAGERS
Tanager may recommend that clients authorize the active discretionary management of
all or 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 Tanager or the client and the designated
Independent Managers. Tanager generally renders services to the client relative to the
discretionary selection of Independent Managers, and continues to monitor and review the
client’s account performance and investment objectives. Tanager receives its annual
advisory fee which is based upon a percentage of the market value of the assets being
managed both directly by Tanager and by the designated Independent Managers.
When selecting an Independent Manager for a client, Tanager 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 Tanager 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, are generally
exclusive of, and in addition to, Tanager’s investment advisory fee. The client may incur
additional fees than those charged by Tanager, the designated Independent Managers,
and corresponding broker- dealer and custodian.
In addition to Tanager’s written disclosure brochure, the client also receives the written
disclosure brochure of the designated Independent Managers.
iii. FINANCIAL PLANNING
Financial plans and financial planning may include, but are not limited to: investment
planning; tax concerns; retirement planning; education planning.
C. TAILORED SERVICES
As described above, Tanager’s services are individualized to each client. As a result, clients
may impose reasonable restrictions on the creation of the financial plan or the portfolio
management, i.e. to avoid certain securities, asset classes or industries. All restriction
requests must be provided in writing.
D. WRAP PROGRAM
Tanager does not sponsor in a wrap program. However, Tanager may recommend a wrap
program sponsored by an Independent Manager.
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E. CLIENT ASSETS MANAGED
As of December 31, 2023, Tanager advises on $807,857,055.00 in discretionary assets and
$199,319,398.00 in non-discretionary assets for its clients.