Boone Wealth Advisors, LLC is a Registered Investment Adviser with the SEC. The limited liability
company has been organized in the State of Washington since 2006. From 1988-2006, Boone Wealth
Advisors, LLC was organized as a sole proprietorship. In September 2016, we changed our name from
MWBoone and Associates, LLC to Boone Wealth Advisors, LLC. The firm is now owned as follows:
Michael W. Boone: 81.7%
Shawn Nelson: 14.4%
Sterling Monroe: 3.9%
Description of the Types of Advisory Services We Offer
Comprehensive Portfolio Management:
Our Comprehensive Portfolio Management service encompasses asset management as well as
providing financial planning/financial consulting to clients. It is designed to assist clients in meeting
their financial goals through the use of financial investments. We conduct at least one, but sometimes
more than one meeting (in person if possible, otherwise via telephone conference) with clients in
order to understand their current financial situation, existing resources, financial goals, and
tolerance for risk. Based on what we learn, we propose an investment approach to the client. We
may propose an investment portfolio, consisting of exchange traded funds (“ETFs”), mutual funds,
individual stocks or bonds, or other securities. Upon the client’s agreement to the proposed
investment plan, we work with the client to establish or transfer investment accounts so that we can
manage the client’s portfolio. Once the relevant accounts are under our management, we review such
accounts on a regular basis and at least quarterly. We may periodically rebalance or adjust client
accounts under our management. If the client experiences any significant changes to his/her
financial or personal circumstances, the client must notify us so that we can consider such
information in managing the client’s investments.
We may utilize Independent Money Managers, where we design an investment portfolio on a fee-only
basis for a percentage of assets in conjunction with another investment advisory firm. Before
selecting other advisers, we make sure that the other advisers are properly licensed or registered.
Financial Planning & Consulting:
We provide a variety of financial planning and consulting services to individuals, families and other
clients regarding the management of their financial resources based upon an analysis of the client’s
current situation, goals, and objectives. Our firm furnishes financial planning advice through
consultation. Some specific areas covered are:
• Retirement Planning
• Financial Independence
• Estate Planning
• Trusts
• Education Planning
• Financial Goals
• Accumulation Goals
• Insurance Planning
• Tax Planning
• Business Planning
• Goal Planning
• Real Estate
• Investment or Asset Allocation
Analysis
• Financial Statements
• Employee Stock Option Analysis
• Other areas/issues as needed on an
individual basis
It is important that we understand your financial goals and dreams, so we typically schedule three
meetings. The first is an introductory, no obligation, complimentary meeting where we share
information about our planning process and see if our services are compatible with your goals. The
second meeting can be appended to the first if time allows, and it is in this meeting that we sign the
financial planning agreement and gather data about your financial condition. It is not until the second
meeting that we begin tracking billed hours. Between the second and third meetings we will often
email or call you to make sure we understand your questions and have all the information we need
to answer them. The third meeting consists of the financial plan delivery and financial planning
recommendations. Because we tailor each plan to a person’s particular concerns, the duration of the
meetings and the length of the meetings vary, but the first meeting averages half an hour to an hour,
the second forty-five to ninety minutes, and the financial plan delivery and recommendations usually
lasts between ninety minutes and three hours. The time between the initial meeting and financial
plan delivery meeting is typically two to four weeks. After the final meeting we will mail you a hard
copy of the financial planning recommendations that takes into account any changes made during
that meeting. The financial planning agreement terminates annually or when the financial plan has
been delivered, whichever comes first. However, we will answer any questions about the plan that
may come up to one year from the date the financial planning agreement was signed.
Our written financial plans or financial consultations rendered to clients usually include general
recommendations for a course of activity or specific actions to be taken by the clients. For example,
recommendations may be made that the clients begin or revise investment programs, create or revise
wills or trusts, obtain or revise insurance coverage, commence or alter retirement savings, or
establish education or charitable giving programs. It should also be noted that we refer clients to an
accountant, attorney or other specialist, as necessary for non-advisory related services. For written
financial planning engagements, we provide our clients with a written summary of their financial
situation, observations, and recommendations. For financial consulting engagements, we usually do
not provide our clients with a written summary of our observations and recommendations as the
process is less formal than our planning service. Plans or consultations are typically completed within
six (6) months of the client signing a contract with us, assuming that all the information and
documents we request from the client are provided to us promptly. Implementation of the
recommendations will be at the discretion of the client.
Ongoing Financial Planning Service
Our ongoing planning service keeps our clients in touch with us for tracking their financial progress
and making life decisions. Included in the service is our Financial Fitness report®, modular financial
analysis as needed (college planning, insurance analysis and goal funding), an annual financial
planning review meeting, WealthVision subscription, and 2 hours’ worth of advice throughout the
year.
Financial Fitness Report
We offer periodic and ongoing financial planning through our proprietary Financial Fitness Report®
developed by Michael W. Boone, CFP®, CFA. This is a customized report providing individuals with
analytics of their financial health and standing focused on areas which clients can impact
immediately. Clients will be able to identify the strengths and weaknesses within their financial
situation and use the report as a guide to making financial decisions.
Comprehensive Life Planning
This is a collection of premier services and it includes many hours annually of our most senior people.
Services combine high level life planning with advanced technical strategies as clients make major
life decisions. We periodically meet with clients to continue to develop, implement and monitor
Form ADV Part 2A – Firm Brochure Page 6 Boone Wealth Advisors, LLC
progress. Examples of the topics covered may include vision casting, family mission and legacy
planning, asset protection, charitable planning, advanced investment, tax and estate planning
strategies. This may include coordinating and meeting with outside experts and specialists. Clients
also receive our Financial Fitness report, and our Ongoing Financial Planning Service. Services
include meetings at the client’s location, meetings together with attorneys, accountants and other
professionals. Services may include business consulting and advice on other assets and other
investments of various kinds.
Financial Planning/Consulting/Limited Purpose services are offered through Boone Wealth
Advisors, LLC, a Registered Investment Advisor, which is not affiliated with LPL Financial.
LPL Financial Sponsored Advisory Programs:
Our firm may provide advisory services through certain programs sponsored by LPL Financial
(“LPL”), a registered investment adviser and broker-dealer. Below is a brief description of each LPL
advisory program available to our firm. For more information regarding the LPL programs, including
more information on the advisory services and fees that apply, the types of investments available in
the programs and the potential conflicts of interest presented by the programs please see the LPL
Financial Form ADV Part 2 or the applicable program’s Appendix 1 (wrap fee program brochure) and
the applicable client agreement.
Manager Access Select Program
Manager Access Select provides clients access to the investment advisory services of professional
portfolio management firms for the individual management of client accounts. Advisor will assist
client in identifying a third party portfolio manager (Portfolio Manager) from a list of Portfolio
Managers made available by LPL. The Portfolio Manager manages client’s assets on a discretionary
basis. Advisor will provide initial and ongoing assistance regarding the Portfolio Manager selection
process.
Optimum Market Portfolios Program (OMP)
OMP offers clients the ability to participate in a professionally managed asset allocation program
using Optimum Funds Class I shares. Under OMP, client will authorize LPL on a discretionary basis
to purchase and sell Optimum Funds pursuant to investment objectives chosen by the client. Advisor
will assist the client in determining the suitability of OMP for the client and assist the client in setting
an appropriate investment objective. Advisor will have discretion to select a mutual fund asset
allocation portfolio designed by LPL consistent with the client’s investment objective. LPL will have
discretion to purchase and sell Optimum Funds pursuant to the portfolio selected for the client. LPL
will also have authority to rebalance the account.
Personal Wealth Portfolios Program (PWP)
PWP offers clients an asset management account using asset allocation model portfolios designed by
LPL. Advisor will have discretion for selecting the asset allocation model portfolio based on client’s
investment objective. Advisor will also have discretion for selecting third party money managers
(PWP Advisors) or mutual funds within each asset class of the model portfolio. LPL will act as the
overlay portfolio manager on all PWP accounts and will be authorized to purchase and sell on a
discretionary basis mutual funds and equity and fixed income securities.
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Model Wealth Portfolios Program (MWP)
MWP offers clients a professionally managed mutual fund asset allocation program. We will obtain
the necessary financial data from the client, assist the client in determining the suitability of the MWP
program and assist the client in setting an appropriate investment objective. The Advisor will initiate
the steps necessary to open an MWP account and have discretion to select a model portfolio designed
by LPL’s Research Department consistent with the client’s stated investment objective. LPL’s
Research Department is responsible for selecting the mutual funds within a model portfolio and for
making changes to the mutual funds selected. The client will authorize LPL to act on a discretionary
basis to purchase and sell mutual funds (including in certain circumstances exchange traded funds)
and to liquidate previously purchased securities. The client will also authorize LPL to effect
rebalancing for MWP accounts.
The MWP program makes available model portfolios designed by strategists other than LPL’s
Research Department. The Advisor will have discretion to choose among the available models
designed by LPL and outside strategists.
Guided Wealth Portfolios (GWP)
GWP offers clients the ability to participate in a centrally managed, algorithm-based investment
program, which is made available to users and clients through a web-based, interactive account
management portal (“Investor Portal”). Investment recommendations to buy and sell open-end
mutual funds and exchange-traded funds are generated through proprietary, automated, computer
algorithms (collectively, the “Algorithm”) of Xulu, Inc., doing business as FutureAdvisor
(“FutureAdvisor”), based upon model portfolios constructed by LPL and selected for the account as
described below (such model portfolio selected for the account, the “Model Portfolio”).
Communications concerning GWP are intended to occur primarily through electronic means
(including but not limited to, through email communications or through the Investor Portal),
although our firm will be available to discuss investment strategies, objectives or the account in
general in person or via telephone.
A preview of the Program (the “Educational Tool”) is provided for a period of up to forty-five (45)
days to help users determine whether they would like to become advisory clients and receive ongoing
financial advice from LPL, FutureAdvisor and our firm by enrolling in the advisory service (the
“Managed Service”). The Educational Tool and Managed Service are described in more detail in the
GWP Program Brochure. Users of the Educational Tool are not considered to be advisory clients of
LPL, FutureAdvisor or our firm, do not enter into an advisory agreement with LPL, FutureAdvisor or
our firm, do not receive ongoing investment advice or supervisions of their assets, and do not receive
any trading services.
Tailoring of Advisory Services
We offer individualized investment advice to clients utilizing our Comprehensive Portfolio
Management and Financial Planning & Consulting services. Each client has the opportunity to place
reasonable restrictions on the types of investments to be held in the portfolio. Restrictions on
investments in certain securities or types of securities may not be possible due to the level of
difficulty this would entail in managing the account. Restrictions would be limited to our
Comprehensive Portfolio Management service. We do not manage assets through our other service.
Form ADV Part 2A – Firm Brochure Page 8 Boone Wealth Advisors, LLC
Participation in Wrap Fee Programs
We offer wrap fee programs as further described in Part 2A, Appendix 1 (the “Wrap Fee Program
Brochure”) of our Brochure. Our wrap fee and non-wrap fee accounts are managed on an
individualized basis according to the client’s investment objectives, financial goals, risk tolerance, etc.
We do not manage wrap fee accounts in a different fashion than non-wrap fee accounts. As further
described in our Wrap Fee Program Brochure, we receive a portion of the wrap fee for our services.
Regulatory Assets Under Management
As of December 31st, 2023, we managed $232,616,197 in regulatory assets under management on a
discretionary basis.