The Firm and its Owners.
Sacks & Associates, LLC (the “Company” or the “Firm”), was formed in October 2008. The
Company was initially registered as an investment adviser with the United States Securities and
Exchange Commission in February 2015. The Company’s sole Member is Neil Sacks, who also
serves as the Company’s Chief Compliance Officer.
The Firm’s Services.
As discussed below in this Disclosure Brochure, the Company offers discretionary investment
management services and financial and retirement planning as part of its discretionary investment
management service platform. The Firm may also offer non-discretionary investment
management services.
The Company’s investment management services are defined as giving ongoing and continuous
investment advice to a client based on the client’s investment objectives and financial situation.
During a series of personal meetings with the client, the Company, in conjunction with the client,
will ascertain the client’s financial situation, risk tolerance, and investment objectives, developing
a retirement plan that will establish general parameters for the Company’s investment management
services. After the client agrees with the proposed retirement plan, the Firm will implement the
retirement plan over a series of meetings between the Firm and the client. After implementation
of the retirement plan, the Firm will monitor the allocations within the client’s account on an
ongoing basis.
The Company provides investment advice primarily with respect to various equity securities (such
as exchange-listed, securities traded over-the-counter, and foreign issuers), exchange traded funds,
warrants, corporate debt securities, certificates of deposit, and mutual fund shares. Although the
Company’s investment advice is typically limited to those investment categories, the Company
may provide advice with respect to other investment opportunities in response to a client request
or where the Company determines that it would be in the interests of the client to pursue those
other investment opportunities.
Where the Firm provides non-discretionary investment management services, the Firm would not
be authorized to implement its recommendations for the client’s account without prior
authorization from the client; provided, however, that if the client accepts those recommendations,
then the Company will have the obligation to so implement such recommendation unless otherwise
agreed upon by the client and the Company.
During the process of developing the client’s retirement plan, the Company engages in financial
and retirement planning, which includes
considerations among the areas of insurance planning
(including life insurance and annuities), investment and estate planning. These financial and
retirement planning services are considered to be elements of the Company’s investment
management process. If requested by the client, the Company may assist the client with the
implementation of various elements of the Company’s services. The Company may also
recommend the services of other professionals if asked by the client. 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 the Company.
Miscellaneous Information About the Firm’s Services.
In connection with the provision of the Company’s services, (1) the Company tailors its advisory
services to the client’s individual needs, (2) clients may impose reasonable restrictions on the
Company’s services, which may include restrictions on investing in certain securities or types of
securities, (3) the client retains absolute discretion over all implementation decisions and is free to
accept or reject any recommendation from the Company, (4) the Company is authorized to rely on
any and all information that is provided to the Company by the client or any of the client’s other
professionals (such as the client’s attorney or accountant), and shall not be required to
independently verify any such information, and (5) each client is responsible to promptly notify
the Company if there is ever any change in their financial situation or investment objectives so that
the Company is positioned to review, evaluate and possibly revise its previous recommendations
and/or services.
Wrap Program.
The Company sponsors its own wrap fee program, the details of which are set out in Appendix 1
to this Schedule 2A of Form ADV (the “Wrap Program Brochure”). The Company does not
manage wrap fee accounts differently from non-wrap fee accounts, except those clients who are
enrolled in the Company’s wrap fee program are charged one bundled fee as set forth in the Wrap
Program Brochure. The Company receives a portion of the wrap fee for its services.
The Firm’s Assets Under Management.
The firm’s investment management services include discretionary and non-discretionary asset
management. As of December 31, 2022, the Company had $ 137,847,217.00 in assets under
management on a discretionary basis, and $ 31,997,331.00 on a non-discretionary basis.