River Wealth offers a variety of advisory services, including asset management, financial planning, and
investment consulting. Prior to River Wealth rendering any of the foregoing advisory services, clients are
required to enter into one or more written agreements with River Wealth setting forth the relevant terms
and conditions of the advisory relationship (the “Advisory Agreement”).
River Wealth Advisors was formed on October 8, 2014. It is owned by River Wealth Holdings, LLC. That
entity is principally owned by RWA Legacy Partners, LLC and Merchant Capital Partners, LLC. RWA Legacy
Partners, LLC is principally owned by Edward O’Gorman, who is River Wealth’s CEO and Managing Partner.
As of December 31, 2023, River Wealth had $1,039,817,756 in assets under management on a
discretionary basis and $24,426,215 in assets under management on a non-discretionary basis.
While this brochure generally describes the business of River Wealth, certain sections also discuss the
activities of its “Supervised Persons,” which refers to the Firm’s officers, partners, directors (or other
people occupying a similar status or performing similar functions), employees or any other person who
provides investment advice on River Wealth’s behalf and is subject to the Firm’s supervision or control.
Asset Management Services
River Wealth manages client investment portfolios on a discretionary or non-discretionary basis. To
engage River Wealth to provide asset management services, clients enter into an agreement with River
Wealth setting forth the terms and conditions of the engagement, describing the scope of the services to
be provided, and the fee that is due from the client. River Wealth’s annual fee for asset management
services is based on a percentage of the market value of the assets placed under its management, which
also compensates for initial and limited financial planning and consulting services that River Wealth
provides in its sole discretion as part of the asset management process, or as specifically requested by the
client and upon River Wealth’s agreement.
River Wealth primarily allocates client assets among various stocks, bonds, mutual funds, exchange-
traded funds (“ETFs”) and options in accordance with the investment objectives of its individual clients.
Where appropriate, River Wealth may also provide advice about legacy positions or other investments
held in client portfolios, which could include investments in privately placed debt, equity, and/or pooled
investment vehicles (e.g., hedge funds, private equity funds, etc.). However, River Wealth does not
typically recommend that clients invest in those types of assets.
Clients may engage River Wealth 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., 529 plans). In these
situations, River Wealth 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.
River Wealth 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. River Wealth 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 River Wealth 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 River Wealth
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.
Financial Planning and Investment Consulting Services
River Wealth offers clients a broad range of financial planning and investment consulting services, which
may include any or all of the following functions:
•Business Planning •Investment Consulting
•Cash Flow Forecasting •Insurance Needs Analysis
•Portfolio Modeling •Retirement Plan Analysis
•Retirement Planning •Charitable Giving
•Trust and Estate Planning •Risk Management
•Financial Reporting •Distribution Planning
When performing these services, River Wealth 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. River Wealth may recommend clients engage the Firm for
additional related services, and other professionals to implement its recommendations. Clients are
advised that a conflict of interest exists if clients engage River Wealth or its affiliates to provide additional
services for compensation. Clients retain absolute discretion over all decisions regarding implementation
and are under no obligation to act upon any of the recommendations made by River Wealth under a
financial planning or consulting engagement. Clients are responsible to promptly notify the Firm of any
change in their financial situation or investment objectives for the purpose of reviewing, evaluating, or
revising River Wealth’s recommendations and services.
Retirement Plan Services
River Wealth offers retirement plan consulting services to sponsors of self-directed retirement plans
organized under the Employee Retirement Security Act of 1974 (“ERISA”). The terms and conditions of
the engagement between River Wealth and the plan sponsor will be set forth in a written agreement. If
River Wealth performs these
services in an ERISA Section 3(21) capacity, it will assist the plan sponsor with
the development of investment policy statements, and then the selection and monitoring of investment
alternatives from which plan participants may choose in self-directing the investments for their individual
plan retirement accounts. Upon request by the plan sponsor, River Wealth may also provide participant
education designed to assist participants in identifying the appropriate investment strategy for their
retirement plan accounts. If the plan sponsor chooses to engage River Wealth in an ERISA Section 3(38)
capacity, River Wealth may provide the same services as described above, but may also: create specific
asset allocation models that River Wealth manages on a discretionary basis, which plan participants may
choose in managing their individual retirement account; and modify the investment options made
available to plan participants on a discretionary basis.
Miscellaneous
Limitations of Financial Planning and Investment Consulting Services
Upon request, River Wealth may provide financial planning and investment consulting services that may
relate to other non-investment consulting issues, such as tax and estate planning and insurance matters.
River Wealth does not serve as an attorney, accountant, or insurance agent, and no portion of our services
should be construed as legal, accounting, or insurance implementation services. Accordingly, River Wealth
does not prepare estate planning documents, tax returns, or sell insurance products. Upon client request,
we may recommend the services of other professionals for non-investment implementation purpose,
such as attorneys, accountants, and insurance agents. Clients are not obligated to engage the services of
any recommended professional, who are responsible for the quality and competency of the services they
provide. The client retains absolute discretion over all such implementation decisions and is free to accept
or reject any recommendation from River Wealth and its representatives. River Wealth’s financial
planning and investment consulting services are completed upon communicating its recommendations to
the client, upon delivery of the written financial plan, or upon termination of the applicable agreement.
Unless specifically agreed in writing, neither River Wealth nor its representatives are responsible to
implement any financial plans or financial planning advice; provide ongoing financial planning services; or
provide ongoing monitoring of financial plans or financial planning advice. The client is solely responsible
to revisit the financial plan or financial planning advice with River Wealth, if desired.
Retirement Plan Rollovers- Conflict of Interest
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). If River
Wealth recommends that a client roll over their retirement plan assets into an account to be managed by
River Wealth, such a recommendation creates a conflict of interest if River Wealth will earn a new (or
increase its current) advisory fee as a result of the rollover. No client is under any obligation to roll over
retirement plan assets to an account managed by River Wealth.
ERISA/IRC Fiduciary Acknowledgement
When River Wealth provides investment advice to a client about the client’s retirement plan account or
individual retirement account, it does so as a fiduciary within the meaning of Title I of the Employee
Retirement Income Security Act (“ERISA”) and/or the Internal Revenue Code (“IRC”), as applicable, which
are laws governing retirement accounts. Because the way River Wealth makes money creates some
conflicts with client interests, River Wealth operates under a special rule that requires it to act in the
client’s best interest and not put its interests ahead of the client’s. Under this special rule’s provisions,
River Wealth must: meet a professional standard of care when making investment recommendations
(give prudent advice); never put its financial interests ahead of the client’s when making
recommendations (give loyal advice); avoid misleading statements about conflicts of interest, fees, and
investments; follow policies and procedures designed to ensure that River Wealth gives advice that is in
the client’s best interest; charge no more than is reasonable for River Wealth’s services; and give the client
basic information about conflicts of interest.
Client Obligations
When performing its services, River Wealth is not required to verify any information received from the
client or from the client’s designated professionals and is expressly authorized to rely on that information.
Clients are responsible to promptly notify River Wealth if there is ever any change in their financial
situation or investment objectives for the purpose of reviewing or amending River Wealth’s services or
previous recommendations.
Portfolio Trading Activity / Inactivity
As part of its investment advisory services, River Wealth will review client portfolios on an ongoing basis
to determine if any trades are necessary based upon various factors, including but not limited to
investment performance, market conditions, fund manager tenure, style drift, account
additions/withdrawals, the client’s financial circumstances, and changes in the client’s investment
objectives. Based upon these and other factors, there may be extended periods when River Wealth
determines that upon review, trades within a client’s portfolio are not prudent. Clients nonetheless
remain subject to the fees described in Item 5 during periods of portfolio trading inactivity.