Firm Description and Types of Advisory Services
LWP is an investment adviser and is a fiduciary that is required to act in a client’s best
interest at all times. LWP offers wealth management and financial planning services for
individuals, pension and profit sharing plans, trusts, estates and charitable
organizations, and corporations. LWP was founded in 1998.
Principal Owners
The majority owner of LWP is Laura A. Kuntz, Principal. Mallory Kretman is a minority
owner of LWP.
Types of Advisory Services
Financial Planning
Our financial planning service is offered based on an hourly fee to wealth management
clients who request services outside of the scope of the normal wealth management
service or for certain new clients who request a financial plan as a place to start.
Services and advice may include:
• Review and formulation of personal financial planning goals and objectives.
• Analysis of cash inflow and outflow and /or budgeting and expense management.
• Planning for financial independence.
• Planning for education accumulation and education payment.
• Planning to enhance financial security at various catastrophic events (death,
disability, etc.)
• Business planning including: retirement plans, succession planning, buy-sell
planning, employee benefits, etc.
• General estate planning, including generally-accepted techniques to reduce
death costs, and general discussion of techniques to provide for desired estate
disposition; (services DO NOT include drafting wills, trusts, or any other legal
documents or giving any legal advice. LWP and staff do not practice law.)
• Income tax reduction, especially in areas of retirement plans, employee benefits,
and investment planning; but services DO NOT include tax preparation or
detailed tax planning for a business or an individual. LWP and staff do not
practice accountancy.
• Stock option, stock accumulation, and deferred compensation planning for
executives.
• Creating an investment strategy that helps meet client’s goals. In doing this, the
following services may be included:
1) Investment education, risk/reward trade-offs, historical performance
information, advantages and disadvantages of types of investment
providers;
2) Development of target investment returns;
3) Assessment of risk tolerance;
4) Review of current investments as to type and various key characteristics,
i.e. such as past returns and past volatility, and/or general performance in
comparison to similar or different investments;
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5) Development of an asset allocation strategy; and
6) In most, but not all cases, specific investment recommendations.
Financial planning clients will receive a written detailed financial plan designed to
achieve their stated financial goals and objectives.
LWP gathers client information through in-depth personal interviews. Information
gathered includes a client’s current financial status, goals, and attitudes towards risk.
Related documents supplied by the client, including a questionnaire completed by the
client, are carefully reviewed, and a written report is prepared. If a financial planning
client chooses to implement the recommendations contained in the plan, LWP suggests
the client work closely with his/her attorney, accountant, insurance agent, and/or
stockbroker. Implementation of financial plan recommendations is entirely at the client’s
discretion.
Financial planning recommendations are not limited to any specific product or service
offered by a broker dealer or insurance company. All recommendations are of a generic
nature.
Wealth Management Services
LWP provides continuous advice to clients regarding investment of client funds based
on the individual needs of the client on a discretionary and non-discretionary basis.
Through
personal discussions in which goals and objectives based on a client's
particular circumstances are established, LWP develops a client's personal investment
policy and creates and manages a portfolio based on that policy. LWP will manage
advisory accounts on a discretionary and non-discretionary basis. Account supervision
is guided by the stated objectives of the client (i.e., capital appreciation, growth, income,
growth and income, etc.). LWP will create a portfolio consisting of one or all of the
following: individual equities, bonds, open-end or closed-end mutual funds, no-load or
load-waived mutual funds, ETFs and other investment products it seems suitable for the
client. LWP will allocate the client's assets among various investments taking into
consideration your goals and preferences. Open-end & closed-end mutual funds and
ETFs will be selected on the basis of any or all of the following criteria: the fund's
performance history; the industry sector in which the fund invests; the track record of
the fund 's manager; the fund's investment objectives; the fund's management style and
philosophy; the fund's management fee structure; liquidity options; strategies we are
recommending as we monitor the global investment markets, etc. Portfolio weighting
between funds and market sectors will be determined by each client's individual needs
and circumstances.
As part of wealth management services, LWP may offer ongoing advice in the areas
listed in the Financial Planning services. In most cases, the fee for wealth management
will incorporate this advice. In some cases, an additional fee will be required for certain
services.
Selection and Monitoring of Third Party Money Managers
Client’s investment portfolios are managed either by our Investment Adviser
Representatives or outside portfolio managers. We select and review outside portfolio
managers based on the following factors:
• past performance;
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• cost;
• investment philosophy;
• market outlook;
• experience of portfolio managers and executive team;
• opinions of third party analysts;
• disciplinary, legal and regulatory histories of the firm and its associates;
• whether established compliance procedures are in place to address at a
minimum, insider trading, conflicts of interest, anti-money laundering.
We do not calculate portfolio manager performance. Instead, we rely upon the
performance figures based on the client’s account statements or reports provided to us
by the outside portfolio managers.
We do, however, watch for several types of events in conjunction with poor
performance. These events trigger an in-depth review of an outside portfolio manager
and primarily include:
• Significant changes in asset allocation;
• Substantial drift in investment style; and/or
• Sustained under-performance.
We do not verify the accuracy of such performance information or its compliance with
presentation standards. As a result, performance information may not be calculated on
a uniform and consistent basis.
We have the ability to hire or delegate authority to independent third party investment
managers to manage a portion of our client's portfolio through advisory management
services programs and we have the ability to fire independent third party managers.
Tailored Relationships
LWP tailors wealth management and financial planning services to the individual needs
of the client. The goals and objectives for each client are documented.
Wrap Fee Programs
LWP does not participate in a Wrap Fee Program.
Client Assets
As of December 31, 2023, $ 351,098,245 of LWP’s clients’ assets are managed on a
discretionary basis and $ 3,611,812 of LWP’s clients assets are managed on a non-
discretionary basis, which totals $ 354,710,057 of assets under management.