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March 29th Commentary

March 29, 2021

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Upcoming Negative Consent Letter

Greetings all,

This commentary will we solely focused on housekeeping, primarily the upcoming “Negative Consent Letter” and “Notice of Investment Advisory Amendment”. Some of you will be receiving this letter from Triad Advisors LLC (our broker-dealer / back-office compliance department). No action is required from you regarding this letter. This letter is simply to inform you that there will be some minor changes to our Advisor managed accounts (Brokerage accounts held at National Financial Services, or NFS). These changes will improve your overall wealth management experience. If you do not receive a letter, it does not apply to you. Before you receive the letter, the key points it will contain are outlined below:

What’s Changing? 

  • A reduction in your annual IRA fee (if applicable)
  • The transaction charges you pay for trades placed in your investment account(s)(Apex only)*
  • The cost of paper delivery of trade confirmations in your investment account(s)*
    1. Only applicable for those not set up on e-Delivery*
  • Pinnacle (>$150k) and Apex accounts (<$50k) will now be called WMP (Wealth Management Platform) accounts

What’s Not Changing?

While the above changes to your investment accounts are occurring, it’s important to note what will not change:

  • NFS as the custodian of your investment account(s) 
  • Your transaction history and cost basis 
  • Your access to view your account as well as the availability of statements, confirms, tax documents and other communications regarding your investment account(s) 
  • The total annual investment advisory fee you pay. 

 

To reiterate, no action is required from you regarding these changes, and above changes will not take place until after May 3rd and will occur automatically. Overall, the changes will improve your wealth management experience. Of course, if you have any questions regarding the specifics of the negative consent letter you may receive, please don’t hesitate to let us know.

 

Best Regards,

 

 

 

The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. It is not possible to directly invest in an index. The return and principal value of the investments will fluctuate so that, when redeemed, they may be worth more or less than their original cost. Past performance is not a guarantee or a predictor of future results of either the indices or any particular investment.

Opinions expressed are subject to change without notice and are not intended as investment advice or a solicitation for the purchase or sale of any security. Please consult your financial professional before making any investment decision.

Securities offered through Triad Advisors LLC, member FINRA/SIPC. Advisory services offered through Lewellyn Financial Management. Lewellyn Financial Management is an independent Registered Investment Advisor and is not affiliated with Triad Advisors, LLC.