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Safety of Principle Wealth Management Review

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Safety of Principle Wealth Management, registered in 2007, serves 1 state(s) with a licensed staff of 1 advisors. Safety of Principle Wealth Management manages $3.4 million and provides investment advisory services for 16 clients (1:16 advisor/client ratio).



Firm Information


Summary Firm
Minimum Investment Ask firm
Average Client Balance $209,705
Total AUM $3.4 million
Fee Range Ask firm
Advisor / Client Ratio 1:16
Languages Offered Ask firm
Specialities Ask firm
Website Visit Site
Phone Number 954-326-6979
Headquarters Tamarac, FL
Locations See locations
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SEC Filings View SEC IAPD CRD #143918


Disciplinary Questions


After checking the disciplinary records of Safety of Principle Wealth Management, our system has identified the following question(s) to ask. Learn more.


Safety of Principle Wealth Management or an advisory affiliate was previously involved with violating a regulation or statute by a domestic or foreign court, the SEC, CFTC, or another regulatory body or commodities exchange.


What happened? When? How many times did it occur? Will anyone that was involved be involved with my accounts in any capacity?


The SEC, CFTC, or another regulatory agency has previously entered an order against Safety of Principle Wealth Management or an advisory affiliate in connection with an investment-related activity.


What happened? When? How many times did it occur? Will anyone that was involved be involved with my accounts in any capacity?


Our system found no other disciplinary questions to ask. Checks take place monthly.



Conflict Questions


After checking the regulatory records of Safety of Principle Wealth Management, our system has identified the following question(s) to ask. Learn more.


Does Safety of Principle Wealth Management offer mutual funds that have 12b-1 fees?


12b-1 fees increase the total annual cost of owning a mutual fund with no guarantee of higher returns. Some firms receive these fees as payments, which creates an incentive to promote them.


How does Safety of Principle Wealth Management approach insurance sales? What conflicts do I need to be made aware of?


Currently Safety of Principle Wealth Management actively practices as insurance brokers or agents, or they are affiliated with an insurance company or agency. This arrangement creates a conflict where the firm and its representatives may be motivated to insure clients with products, including annuities and life insurance, that generate high sales commissions when lower-cost alternatives may exist.


Does Safety of Principle Wealth Management offer products that have performance-based fees, or does it accept performance-based fees? Will any of my assets be invested in those products?


When performance-based fees are charged, the financial advisor is paid for outperforming a benchmark, typically an index. While this may seem like an attractive compensation structure to ensure your advisor is making your money work for you, often, the managers of those products are incentivized to take inappropriate risks to beat their performance benchmark. For instance, research has shown that mutual funds that use incentive fees take on more risk that funds that do not, and tend to double down and increase their risk following a poor performance. This could be detrimental to a client during down markets.


Does Safety of Principle Wealth Management perform side-by-side management? How does Safety of Principle Wealth Management mitigate conflicts that arise from managing accounts with differing fee structures?


This typically occurs when firms manage mutual funds or hedge funds alongside smaller retail accounts. Side-by-side management can create an incentive for the advisor to favor the larger funds, potentially leading to unequal trading costs and unfavorable trade executions for their retail clients.


Which securities does Safety of Principle Wealth Management trade for itself that it will also be recommending to me?


Safety of Principle Wealth Management has marked in their disclosures that they trade recommended securities. While this often can be seen as "eating your own cooking," there are several inherent conflicts that can arise. For example, front running is when a financial professional buys or sell securities ahead of their client. In short, any financial professional should disclose all positions they hold (or have sold short) that they will also be recommending to you.


Our system found no other conflict questions to ask. Checks take place monthly.



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Disciplinary History


An important aspect of the Trust Algorithm is processing the SEC Form ADV Part 1 filing of each Registered Investment Advisor (RIA). “Item 11 Disclosure Information” contains a list of valuable disclosures that are relevant for Americans.

As identified in SEC Form ADV Part 1, Item 11 “Disclosure Information”, the Trust Algorithm identified the following disciplinary disclosures for Safety of Principle Wealth Management:




Cost


Unfortunately, there is no single, uniform pricing standard for working with a financial advisor. Catchphrases, including "fee-only," can be helpful; however, Americans often get confused with competitors promoting "fee-based" in response.

Ultimately, to understand the underlying costs of advisory services, we always recommend asking for an itemized fees breakdown and reading the firm's ADV Part 2 Brochure (Item 5, "Fees and Compensation").


View Fee Disclosures




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Other Firms


Pinnacle Investment Advisors, Great Diamond Partners, New Market Wealth Management, Forte Wealth Consulting




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