Description of Services and Fees
Prescient Wealth Management, Inc. doing business as East End Wealth Management is a registered
investment adviser primarily based in Hampton Bays, NY. We have been organized as a corporation
under the laws of the State of New York since 2011. Steven J. Kaczmarek is our President and the
principal owner of our firm.
This year our firm’s regulatory assets under management have reached the level requiring the firm to
register with the State of New York. As such, once approved by the State of New York, we will be
withdrawing from SEC registration.
The following paragraphs describe our services and fees. Please refer to the description of each
investment advisory service listed below for information on how we tailor our advisory services to your
individual needs. As used in this brochure, the words "we", "our" and "us" refer to Prescient Wealth
Management, Inc. and the words "you", "your" and "client" refer to you as either a client or prospective
client of our firm.
Portfolio Management Services
At this time, our services are offered on a discretionary basis. Discretionary investment management
means that the investment manager, East End Wealth Management and your portfolio manager, are
making decisions with regards to the most appropriate balance of investments in your portfolio. We
have discretion to make changes to your portfolio as and when we deem appropriate. The investment
manager does not need to have your prior approval to make transactions in your account. Your
dedicated portfolio manager is responsible for the day-to-day management of your portfolio and can
make small or larger adjustments as he/she sees fit.
East End Wealth Management will accept client accounts on a non-discretionary basis, when we deem
the account will fit our investment style. Non-discretionary accounts require that the portfolio manager
contact you to obtain consent for each and every trading transaction in your account. Our firm
reserves the right to refuse non-discretionary accounts when we feel that non-discretion would be a
burden to our firm or to the client.
Our investment advice is tailored to meet our clients’ needs and investment objectives. If you retain our
firm for portfolio management services, we will meet with you to determine your investment objectives,
risk tolerance, and other relevant information (the “suitability information”) at the beginning of our
advisory relationship. We will use the suitability information we gather from our initial meeting to
develop a strategy that enables our firm to give you continuous and focused investment advice and/or
to make investments on your behalf. As part of our portfolio management services, we customize an
investment portfolio for you in accordance with your risk tolerance and investing objectives. We will
invest your assets using a predefined strategy, or we may invest your assets according to one or more
model portfolios developed by our firm. Once we construct an investment portfolio for you, or select a
model portfolio, we will monitor your portfolio’s performance on an ongoing basis and will rebalance the
portfolio as required by changes in market conditions and in your financial circumstances.
If you participate in our discretionary portfolio management services, we require you to grant our firm
discretionary authority to manage your account. Discretionary authorization will allow our firm to
determine the specific securities, and the amount of securities, to be purchased or sold for your
account without your approval prior to each transaction. Discretionary authority is typically granted by
the investment advisory agreement you sign with our firm, a power of attorney, or trading authorization
forms. You may limit our discretionary authority (for example, limiting the types of securities that can be
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purchased for your account) by providing our firm with your restrictions and guidelines in writing. If you
enter into non-discretionary
arrangements with our firm, we must obtain your approval prior to
executing any transactions on behalf of your account.
As part of our portfolio management services, we may use one or more sub-advisers to manage a
portion of your account on a discretionary basis. The sub-adviser(s) may use one or more of their
model portfolios to manage your account. We will regularly monitor the performance of your accounts
managed by sub-adviser(s) and may hire and fire any sub-adviser without your prior approval. We may
pay a portion of our advisory fee to the sub-adviser(s) we use; however, you will not pay our firm a
higher advisory fee as a result of any sub-advisory relationships.
Sub-Advisory Services
We offer sub-advisory services to unaffiliated third-party money managers, Benjamin Securities and
Celadon Financial Group. As part of these services, we will determine the client's risk profile and
execute an investment policy. We then invest the client’s assets in the client’s account held by the
client’s money manager’s qualified custodians. Please see Item 5 Fees and Compensation section of
this brochure for a description of how we are compensated for these services.
Types of Investments
We primarily offer advice on short term investment grade bonds with maturities of less than 10 years.
Our firm specializes in creating portfolios utilizing fixed income instruments. Primarily we will offer
clients advice on both short term and long-term investment grade bonds, corporate debt securities
(other than commercial paper), commercial paper, certificates of deposit, municipal securities, variable
life insurance, and variable annuities. Although our firm primarily focuses on the aforementioned
above, our firm is not limited to these types of products and will also manage ETFs, equity securities,
structured products and options, based upon a client’s stated needs and objectives.
Since our investment strategies and advice are based on each client’s specific financial situation, the
investment advice we provide to you may be different or conflict with the advice we give to other clients
regarding the same security or investment. You may request that we refrain from investing in
particular securities or certain types of securities. You must provide these restrictions to our firm in
writing.
Our firm will use its best judgment and good faith effort in rendering its services. East End Wealth
Management cannot warrant or guarantee the achievement of an investment goal or any particular
level of account performance or that your account will be profitable over time. Past performance is not
necessarily indicative of future results.
Clients should be aware of certain conflicts of interest that exist when we provide advice regarding
qualified retirement plans. Our firm and our financial professional staff may recommend that the client
withdraw the assets from their employer's retirement plan and roll the assets over to an individual
retirement account ("IRA") that East End Wealth Management (or another adviser) will manage. If the
plan participant elects to roll the assets to an IRA managed by our firm, the client will be charged an
asset-based fee. This practice presents a conflict of interest because our firm and our financial
professionals have a financial incentive to recommend the rollover to the client based on the potential
revenues rather than solely on the client’s needs. Consequently, clients are never obligated to roll over
their qualified retirement plan assets, nor are they obligated to transfer the assets to our firm. Your
financial professional should perform an analysis of the benefits of the rollover as well as what you will
lose or the additional costs of a rollover. Ask your financial professional to go over this analysis with
you before you make your final decision.
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Assets Under Management
As of June 30, 2023, we provide continuous management services for $23,812,064 in client assets on
a discretionary basis.