VWA began conducting investment advisory services in March 2014 and is principally owned by the Firm’s
President, Timothy Hammett, and Chief Executive Officer, Brett Gilliland. As of December 31, 2023, VWA
had approximately $2,431,194,400 of client assets under management, the majority of which (99%) was
managed on a discretionary basis. For a current number of assets under management, please consult your
investment advisor.
VWA offers a variety of advisory services, which include financial planning, consulting, and investment
management. Prior to VWA rendering any of the foregoing advisory services, clients are required to enter
into one or more written agreements with VWA setting forth the relevant terms and conditions of the
advisory relationship (the “Advisory Agreement”).
While this brochure generally describes the business of VWA, certain sections also discuss the activities of
its Supervised Persons, which refer to the Firm’s officers, partners, directors (or other persons occupying a
similar status or performing similar functions), employees, contractors, or any other person who provides
investment or financial planning services on VWA’s behalf and is subject to the Firm’s supervision or control.
Supervised Persons that provide advisory services on behalf of VWA are also known as Investment Adviser
Representatives (“IARs”). IARs may be employees or independent contractors of VWA.
VWA’s IARs are located in a number of offices in Florida, Illinois, Kansas, and Missouri. While all VWA IARs
share a common association with VWA, their individual investment philosophies and the types of
investment philosophies and strategies they use may differ significantly. Consequently, VWA does not
necessarily provide customers who have similar investment objectives or risk tolerances the same
investment strategies or advice. Customers should, therefore, select the VWA IAR whose investment
philosophy and strategy is consistent with, among other things, the customer’s investment objectives, risk
tolerances, and investment experience.
Financial Planning and Consulting Services
VWA offers clients a broad range of value-based financial planning and consulting services, which may
include any or all of the following functions:
• Business Planning • Retirement Planning
• Cash Flow Forecasting • Risk Management
• Trust and Estate Planning • Charitable Giving
• Financial Reporting • Distribution Planning
• Investment Consulting • Tax Planning
• Insurance Planning • Manager Due Diligence
In performing these services, VWA is not required to verify any information received from the client or from
the client’s other professionals (e.g., attorneys, accountants, etc.,) and is expressly authorized to rely on
such information. VWA may recommend clients engage the Firm for additional related services, its
Supervised Persons in their individual capacities as registered representatives of a broker-dealer and/or
other professionals to implement its recommendation. Clients are advised that a conflict of interest exists
if clients engage VWA to provide additional fee-based services. Clients retain absolute discretion over all
decisions regarding implementation of their plan and are under no obligation to act upon any of the
recommendations made by VWA under a financial planning or consulting engagement. Clients are advised
that it remains their responsibility to promptly notify the Firm of any change in their financial situation or
investment objectives for the purpose of reviewing, evaluating or revising VWA’s recommendations and/or
services.
Investment Management Services
VWA manages client investment portfolios on a discretionary or non-discretionary basis. VWA primarily
allocates client assets among various mutual funds, exchange-traded funds (“ETFs”), individual equities,
cash equivalents, and model portfolios designed or managed by IARs or independent investment managers
(“Independent Managers”) in accordance with the client’s stated investment objectives.
Where appropriate, the Firm may also provide advice about any type of legacy position or other investment
held in client portfolios. Clients may engage VWA to manage and/or advise on certain investment products
that are not maintained at their primary custodian, such as variable life insurance and annuity contracts
and assets held in employer sponsored retirement plans and qualified tuition plans (i.e., 401(k) or 529
plans). In these situations, VWA directs or recommends the allocation of client assets among the various
investment options available with the product. These assets are generally maintained at the underwriting
insurance company or the custodian designated by the product’s provider.
VWA tailors its advisory services to meet the needs of its individual clients and seeks to ensure, on a
continuous basis, that client portfolios are managed in a manner consistent with those needs and
objectives. VWA consults with clients on an initial and ongoing basis to assess their specific risk tolerance,
time horizon, liquidity constraints and other related factors relevant to the management of their portfolios.
Clients are advised to promptly notify VWA if there are changes in their financial situation or if they wish
to place any limitations on the management of their portfolios. Clients may impose reasonable restrictions
or mandates on the management of their accounts, if VWA determines, in its sole discretion, the conditions
would not materially impact the performance of a management strategy or prove overly burdensome to
the Firm’s management efforts.
Clients have the option of utilizing model-based investing programs through separately managed accounts.
VWA offers model portfolios, in which VWA and its IARs select a model portfolio of investments (“Model
Portfolio”) designed or approved by VWA’s Investment Committee or a third-party portfolio strategist
(“Independent Manager”) to allocate an investor’s portfolio across different asset classes, consistent with
the client’s stated investment objective. VWA’s Investment Committee or the Independent Manager is
responsible for selecting the asset allocation and specific investments within a Model Portfolio, and
modifying the investments to maintain consistency with the Model Portfolio’s stated goals and targets. The
client authorizes VWA and the IAR to have discretion to buy and sell securities by executing the Account
Agreement and Application.
Whether or not a client uses a Model Portfolio, VWA also offers model accounts, in
which VWA and its IARs
select a model account of securities (“Model Account”) designed or approved by VWA’s Investment
Committee or an Independent Manager to invest in a particular asset class.
Except for VWA’s Investment Committee, the Independent Managers are independent investment advisor
firms or consultants
1. On an ongoing basis, the Independent Manager provides VWA with Model Portfolios
and Model Accounts that include recommended allocations and investments pursuant to a written
agreement VWA has with each respective Independent Manager. As discussed below, Independent
Managers may be authorized by clients or where appropriate, the client’s investment advisor, to actively
manage client accounts.
Sponsor and Manager of Wrap Program
VWA provides investment management services as the sponsor and manager of The Visionary Wealth
Management Program (the “Wrap Program”). Additional information about the Wrap Program offered by
VWA is available in VWA’s Wrap Brochure.
1 Clients may request a current list of Independent Managers who provide Visionary with suggested model accounts or portfolios.
Use of Independent Managers
As mentioned above, VWA may select certain Independent Managers to actively manage a portion of its
clients’ assets. The specific terms and conditions under which a client engages an Independent Manager
may be set forth in a separate written agreement with the designated Independent Manager. In addition
to this brochure, clients may also receive the written disclosure documents of the respective Independent
Managers engaged to manage their assets.
VWA evaluates a variety of information about Independent Managers, which may include the Independent
Managers’ public disclosure documents, materials supplied by the Independent Managers themselves and
other third-party analyses it believes are reputable. To the extent possible, the Firm seeks to assess the
Independent Managers’ investment strategies, past performance and risk results in relation to its clients’
individual portfolio allocations and risk exposure. VWA also takes into consideration each Independent
Manager’s management style, returns, reputation, financial strength, reporting, pricing and research
capabilities, among other factors.
VWA continues to provide services relative to the discretionary or non-discretionary selection of the
Independent Managers. On an ongoing basis, the Firm monitors the performance of those accounts being
managed by Independent Managers. VWA seeks to ensure the Independent Managers’ strategies and
target allocations remain aligned with its clients’ investment objectives and overall best interests.
Use of VWA’s Investment Committee in Separately Managed Accounts
Through separately managed accounts, Clients have the option of utilizing Model Portfolios or Model
Accounts designed or approved by VWA’s Investment Committee or Independent Manager. Because VWA
retains both the Program Fee and Separately Managed Account Fee if a Model Portfolio or Model Account
designed or approved by VWA’s Investment Committee is selected instead of a Model Portfolio or Model
Account designed by an Independent Manager, VWA has a financial benefit if IARs recommend and select
a Model Portfolio or Model Account designed or approved by VWA’s Investment Committee. Although
this conflict is mitigated by the fact that the IAR does not share in the fee paid to VWA for strategist
services, clients should be aware of the conflicting interests in evaluating the advice and services the client
receives and selects.
Model Portfolios
VWA designs or utilizes different types of Model Portfolios to meet the varying needs of clients. Individual
advisors, or the client with the assistance of the advisor, selects the Model Portfolio and provides advice
based on the client’s individual needs. VWA’s Investment Committee has designed or chosen Model
Portfolios to implement a number of investment strategies, including those described below. The Model
Portfolios seek to generate capital appreciation while assuming a reasonable amount of risk. The Portfolios
are intended to take advantage of market opportunities that will occur or persist over a three-to-five-year
time frame. It is important to note that no methodology or investment strategy is guaranteed to be
successful or profitable.
• Conservative. This investment strategy invests primarily in fixed income with small allocations to
domestic and foreign equity in effort to produce current income with limited risk to capital. VWA
designs different versions of Conservative Model Portfolios, for example, for investors who wish to
allocate to potentially tax-free municipal bonds or solely utilize index funds.
• Moderate Conservative. This investment strategy also invests primarily in fixed income assets, but
with a higher allocation to equity investments than the conservative strategy. The primary objective
of this strategy is to produce current income with a secondary objective of capital appreciation.
• Balanced. This investment strategy invests primarily in equity based investments including large,
medium, and small capitalized domestic stocks, as well as developed and emerging international
market equities. Additionally, VWA may include other asset classes such as real estate,
commodities, or alternative investments in order to provide growth or reduce volatility. The
balanced strategy also includes a significant allocation to fixed income securities to provide income
as well as reduce overall portfolio volatility.
• Moderate Aggressive. This investment strategy has a higher equity allocation than the balanced
strategy, but still maintains a fixed income allocation to reduce overall portfolio volatility. The
primary objective of this strategy is capital appreciation.
• Aggressive. This investment strategy seeks to achieve higher returns than other model portfolios
and invests primarily in equity investments with a minimal allocation to fixed income. VWA may
include other asset classes such as real estate, commodities, or alternative investments in order to
provide growth or reduce volatility. The objective of this strategy is capital appreciation.
Model Accounts
In contrast to Model Portfolios, which allocate a client’s investments across multiple asset classes, Model
Accounts are designed to focus on a single, or limited number of, asset classes, such as classes of equity
securities, fixed income or alternatives.