Wrap Brochure May 2020
724 Bielenberg Drive, Suite 102
Woodbury, MN 55125
This Brochure provides information about the qualifications and business practices of Relevé Financial Group, LLC. If you have any questions about the contents of this brochure, please contact Dawn Jurkovich at 612-801-5416 or firstname.lastname@example.org. The information in this brochure has not been approved or verified by the United States Securities and Exchange Commission or by any state securities authority. Additional information about Relevé Financial Group, LLC, is available on the internet at www.adviserinfo.sec.gov. Our firm CRD number is 285243.
This is an updated brochure, dated May 2020, for Relevé Financial Group, LLC. Since our last annual amendment in March 2020, we’ve made the following material change to our business services and offerings:
- Under “Additional Information” in the section titled, “Other Financial Industry Activities and Affiliations,” new information is provided about the related coaching business of dawndahlby.com.
In the future, pursuant to SEC Rules, we will ensure that you receive a summary of any material changes within 120 days of the close of our business fiscal year. We will also provide other on-going disclosure information about material changes or new information as necessary. We will always provide you with a current brochure at any time without charge which may be requested by contacting Dawn Jurkovich at 612-801-5416 or email@example.com.
Additional information about Relevé Financial Group, LLC, is also available on the SEC website at www.adviserinfo.sec.gov. Relevé Financial Group, LLC is a Registered Investment Advisor. Registration of an Investment Advisor does not imply any level of skill or training. The oral and written communications of an Advisor provide you with information about which you determine to hire or retain an Advisor.
SERVICES, FEES AND COMPENSATION
Relevé Financial Group, LLC, is a registered investment adviser based in Woodbury, Minneso-ta. We are organized as a limited liability company under the laws of the State of Minnesota and were established in 2016. Dawn Jurkovich is the sole owner. Relevé is a full service wealth management firm offering a comprehensive suite of financial planning, consulting and investment portfolio management services.
As of December 31, 2019, Relevé has $192,790,000 in assets under management in approximately 1450 discretionary accounts.
DESCRIPTION OF THE PROGRAM
This is a wrap fee program, providing clients the ability to trade in specific investment products while not taking on separate brokerage commissions or transaction charges. Wrap fee pro-grams are any arrangements in which the clients receive investment advisory services (includ-ing portfolio management or advice on other investments) as well as execution of client transac-tions (for a fee) if they are not based upon existing account transactions.
To receive the services of this program, the client is required to enter into a written agreement with Relevé Financial Group, (“The Firm” or “Relevé”) which will contain the relevant terms and conditions of the advisory relationship (the “Agreement”). The client must also open a new se-curities brokerage account and complete a new account agreement with a qualified custodian – e.g., Charles Schwab & Co., Inc. (“Schwab”) or some other custodian Relevé approves under this Program (collectively “Financial Institutions”).
Once the Program relationship has been established, Relevé will work with the client to under-stand their individual liquidity and cash flow needs, time horizon and risk tolerance, investment objectives, as well as any other pertinent factors of their specific financial situations. After ana-lyzing relevant information, Relevé will assist its client in developing appropriate strategies for managing their assets and financial affairs. Relevé will manage their client’s investment portfoli-os on either a discretionary or non-discretionary basis according to the Wealth Management Agreement. Relevé does so by apportioning the client’s assets among the various investment products available with the Program.
Under the Program, Relevé also offers clients a variety of planning and consulting services, which are customized to accommodate the needs of each individual client. This may include:
- Cash Flow & Budgeting
- Tax Planning
- Tax Preparation
- Retirement Planning
- Executive Compensation
- Protection Planning
- Financial Reporting
- Business Planning
- Succession Planning
- Educational Funding
- Employee Benefits
- Estate Planning
- Charitable Planning
Relevé is not required to verify any information received from the client or from the client’s other professionals (e.g., attorneys, accountants, etc.) to perform these services, and is expressly authorized to rely on such information.
Relevé may recommend its own services, its Supervised Persons in their individual capacities as insurance agents, or the services of any other professionals to implement its recommenda-tions for any financial planning or consulting services.
In recommending that the client engage the Firm or its Supervised Persons for services to be rendered outside of the Program, a potential conflict of interest could exist for Relevé. There-fore, the client is under no obligation to act upon any such recommendations, and the client re-tains absolute discretion over all such decisions. The client is also advised that it remains the client’s responsibility to promptly notify Relevé of any change in the client’s financial situation or investment objectives for the purpose of reviewing, evaluating or revising Relevé’s previous recommendations and/or services.
FEES FOR PARTICIPATION IN THE PROGRAM
The Firm’s fee for portfolio management services is based on a percentage of your assets we manage, or based on a flat fee and is set forth in the following fee schedule:
Financial Assets Annualized Fee
Under $500,000 1.25%
$500,000 to $1,000,000 1.00%
$1,000,000 to $2,000,000 0.90%
$2,000,000 to $5,000,000 0.80%
$5,000,000 to $8,000,000 0.75%
$8,000,000 to $20,000,000 0.65%
$20,000,000 to $30,000,000 0.60%
Over $30,000,000 0.50%
For assets that custodian at Charles Schwab & Co. and managed directly by Relevé Financial Group, you will be charged an additional 0.25% to cover the securities brokerage charges, transaction fees, ticket charges, custodial fees and other services that are absorbed by Relevé.
As a traditional asset management service some accounts in this program, (accounts not contracted under the above mentioned 0.25% fee program) will be subject to transaction charges and/or commissions charged by the broker dealer acting as custodian for the account (Charles Schwab Financial currently serves as custodian for our client accounts). Relevé does not receive any portion of the transaction charges or commissions, however Relevé retains a portion of the .25% account fee to cover expenses related to staff allocated time for trading, rebalancing, and client requested money transfers.
Prior to engaging us to provide investment management services, you are required to enter into a formal investment advisory agreement with us setting forth asset management fees to be charged to your account and other terms and conditions. Our annual portfolio management fee is billed and payable quarterly in advance based on the value of your account on the last day of the previous quarter.
If the portfolio management agreement is executed at any time other than the first day of a calendar quarter, our fees will apply on a pro rata basis, which means that the advisory fee is pay-able in proportion to the number of days in the quarter for which you are a client. Our advisory fee is negotiable, depending on individual client circumstances.
FEE COMPARISON AND OTHER CHARGES
As referenced above, a portion of the fees paid to Relevé are used to cover brokerage commissions and transactional costs. Services provided through the Program may cost clients more or less than purchasing these services separately. The number of transactions made in client’s accounts, as well as the commissions charged for each transaction, determines the relative cost of the Program versus paying for execution on a per transaction basis and paying a separate fee for advisory services. Program fees may be higher or lower than other comparable pro-grams.
As part of our investment advisory services to you, we may invest, or recommend that you in-vest, in mutual funds, exchange traded funds, or alternative investments. The fees that you pay to our firm for investment advisory services are separate and distinct from the fees and expenses charged by mutual funds, exchange traded funds or alternative investments which are de-scribed in each fund’s prospectus. These fees can include a management fee and other fund expenses. Other fees could include, but are not limited to; custody fees, charges imposed directly by independent managers, wire transfer and/or electronic fund fees, and other fees generated through securities transactions. To fully understand the total cost you will incur, you should review all fees charged by mutual funds, exchange traded funds, alternative investments, our firm, and others.
Relevé, in its sole discretion, has the authority to negotiate a lesser fee amount based upon certain factors which could include; anticipated future savings capacity, anticipated future additional assets added to the account, actual asset value agreed upon to be managed, related accounts, or a pre-existing client relationship.
FEE DEBIT OR DIRECT BILLING
Clients authorize the custodian or Investment firm to debit their accounts for the amount of the Fees (designated in the Wealth Advisory Agreement) and to directly remit that fee to Relevé and/or the Independent Managers or to bill the client for payments to be made directly to Relevé. Any Custodians or other Financial Institutions recommended by Relevé have agreed to send quarterly statements to clients indicating all amounts disbursed from the account, including the amount of fees paid directly to Relevé.
ACCOUNT REQUIREMENTS AND TYPES OF CLIENTS
We offer investment advisory services to individuals, trusts, estates, charitable organizations, corporations, business owners, and other business entities. There are no minimum account requirements.
PORTFOLIO MANAGER SELECTION AND EVALUATION
INVESTMENT PORTFOLIO MANAGEMENT
Relevé manages client investment portfolios on either a discretionary or non-discretionary basis by allocating assets among various mutual funds, ETFs, individual debt and equity securities, listed options, real estate investment trusts (“REITs”), master limited partnerships (“MLPs”), business development companies, managed futures, and Independent Managers. Where appropriate, the Firm may also recommend and advise upon certain privately placed securities, which may include debt, equity and/or pooled investment vehicles (e.g., hedge funds, private equity funds, funds of funds, etc.).
Relevé may also provide advice with regard to various types of estate planning assets, as well as certain investment products that are not maintained at the client’s primary custodian, such as variable annuity, permanent life insurance contracts and assets held through employer sponsored retirement plans, qualified tuition plans (i.e., 529 plans) and executive compensation plans (deferred compensation, employee stock options, etc.). Where investment choices are limited within a plan, Relevé may direct or recommend the allocation of client assets among the in-vestment options available within this particular plan. These assets are generally maintained at the insurance company or the custodian designated by the product’s provider.
Relevé tailors its advisory advice and services to align with the needs and objectives of their individual clients and, on a regular basis, seeks to ensure that their clients’ portfolios are consistently managed in alignment with their specific investment objectives. Relevé meets regularly with clients to determine their specific risk profile, time horizon, liquidity needs and other factors relevant to the clients’ overall financial situation and how their portfolios should be managed. Clients are responsible to promptly notify Relevé if there are changes in their financial situation that would change the manner of how we manage their portfolio, which would include placing any limitations on the overall portfolio management or individual holdings. Clients are entitled to place reasonable restrictions or mandates on the management of their accounts if Relevé determines, in its sole discretion, these restrictions would not materially impact the management strategy or performance, or prove overly burdensome to the Firm’s management efforts.
SELECTION AND ANALYSIS OF INDEPENDENT MANAGERS
Relevé analyzes information in regards to Independent Managers we may select outside firms to manage client assets. Relevé generally does their due diligence on multiple outside re-sources which may include; materials or public disclosure documents supplied from the Independent Managers’ and other third-party research we believe is reputable. Relevé seeks to analyze the Independent Managers’ management style, financial strength, previous and current performance, investment strategies, risk strategies, pricing, and research capabilities in relation to our clients’ portfolio target allocations.
You authorize Relevé, without prior approval to delegate the management of all or part of your assets to one or multiple Independent Investment Managers or Independent Investment Management programs/firms. The Independent Managers or third party may be hired under separate written agreements and may charge fees in addition to the Wealth Management Fee listed under “Fees for Participation in the Program.” The Independent Managers or third party will have limited power of attorney and trading authority over those assets we direct to them for management.
They will be authorized to buy, sell and trade in accordance with your investment objectives. They will have authority to give instructions to the custodian of your assets. We will continue to review and monitor your asset allocation, asset performance and your investment objectives. Relevé does not have the ability to supervise Independent Managers or other third party hired by Relevé on a regular day-to-day basis. We may recommend a change or terminate any Independent Managers or third party when we believe such change or termination is in your best interest, according to the discretionary authority provided in our Wealth Management Agreement.
Relevé does not verify the accuracy of any such performance or information from Independent Managers or hired third party, and does not ensure its compliance with presentation standards. Clients are advised that any performance information they receive from the Independent Man-agers or hired third party may not be calculated on a uniform and consistent basis. Clients should compare all supplemental materials with the account statements they receive from their respective financial institutions. The terms and conditions in which the client engages an Independent Manager or third party are documented in a separate written agreement between the client and the designated party. In addition to this brochure, the client also receives a written disclosure brochure from the designated party hired to manage their assets.
PERFORMANCE BASED FEES AND SIDE BY SIDE MANAGEMENT
Relevé does not accept performance-based fees or participate in side-by-side management. Our fees are calculated as described in the Fees and Compensation section in this brochure, and are not charged on the basis of a share of capital gains upon, or capital appreciation of, the funds in your accounts.
Relevé takes a diversified approach to portfolio management and each client has an investment strategy tailored to their individual financial objectives and risk tolerance. Our investment discipline is on building a broadly diversified portfolio across multiple asset classes, and utilizing analytics to identify the appropriate allocation between those asset classes to maximize your re-turn relative to particular level of risk.
We recommend all types of securities, and do not recommend one particular type of security over another, as each client has various needs and tolerance for risk. Each type of security has its own unique set of risks associated with it. Risks can vary widely, even within the same type of investment. However, generally speaking, the greater the anticipated return of an investment, the higher the risk of loss associated with that investment.
Mutual Funds and Exchange-Traded Funds (ETFs): Any investment in a mutual fund or ETF involves risk, including the loss of principal. Therefore, mutual fund and ETF shareholders are necessarily subject to the risks stemming from the individual issuers of the fund’s underlying portfolio securities. These shareholders are also liable for taxes on any fund-level capital gains, as mutual funds and ETFs are required by law to distribute capital gains in the event they sell securities for a profit that cannot be offset by any corresponding loss.
The trading price at which a share is transacted will be equal to the stated daily per share net asset value (“NAV”) of a fund, plus any shareholders fees (e.g., sales loads, purchase fees, redemption fees), and shares of mutual funds are generally distributed and redeemed on an on-going basis by the fund itself or a broker acting on behalf of the fund. Although the actual NAV fluctuates with intraday changes to the market value of the fund’s holdings, the per share NAV of a mutual fund is calculated at the end of each business day. Also note that the trading prices of a mutual fund’s shares may differ significantly from the NAV during periods of market volatility, which may, along with other factors, lead to the mutual fund’s shares trading at a premium or discount to actual NAV.
In general, ETF shares trade at or near their most recent NAV, which is usually calculated at least once a day for indexed-based ETFs and more frequently for actively managed ETFs, and shares of ETFs are listed on securities exchanges and transacted at negotiated prices in the secondary market. However, some inefficiencies may cause the shares to trade at a premium or discount to their pro rata NAV, and there is also no guarantee that an active secondary market for such shares will develop or continue to exist. Generally, an ETF can only redeem shares when aggregated as creation units (usually 50,000 shares or more), and therefore, if a liquid secondary market ceases to exist for shares of any particular ETF, a shareholder may have no way to dispose of those shares.
Options: Options allow investors to buy or sell securities at a contracted strike price (not necessarily the current market price) at or within a specific period of time. Investors use options to either hedge against potential losses or to speculate on the performance of their underlying securities. Clients may pay or collect a premium for either buying or selling an option. Options transactions contain a number of risks, including the partial or total loss of principal in the event that the value of the underlying security or index does not increase or decrease to the level of the respective strike price and holders of options contracts are also subject to default by the option writer who may be unwilling or unable to perform their contractual obligations.
Use of Private Collective Investment Vehicles: Relevé may recommend that certain clients in-vest in privately placed collective investment vehicles (e.g., hedge funds, private equity funds, etc.). There are very few limitations on the types of securities or other financial instruments which may be traded and also no requirement to diversify. The managers of these have broad discretion in selecting the investments. Unfortunately, hedge funds may trade on margin or otherwise leverage positions, potentially increasing the risk to the vehicle. In addition, because these vehicles are not registered as investment companies, there is an absence of regulation. Due to the numerous other risks in investing in these securities, clients should consult each fund’s private placement memorandum and/or other documents explaining these risks prior to investing.
Real Estate Investment Trusts (REITs): Relevé may recommend investing in, or allocating as-sets among, various REITs, which shares exist in the form of either publicly traded or privately placed securities. A REIT is a collective investment vehicle with portfolios comprised primarily of real estate and mortgage related holdings. Many REITs hold heavy concentrations of investments tied to commercial and/or residential developments, which subject REIT investors to the risks associated with a downturn in the real estate market. Investments that are linked to specific regions that experience greater volatility in their local real estate market may create large fluctuations in the value of the vehicle’s shares. Mortgage related holdings may also cause additional concerns related to interest rates, inflation, liquidity and counter party risk.
Use of Margin: While margin borrowing can greatly improve returns, it may also increase overall portfolio risk and expense. In general, margin transactions are affected by using capital borrowed from a Financial Institution, which is secured by a client’s holdings. Under some circumstances, a lending Financial Institution may demand an increase in the underlying collateral, and if the client is unable to provide additional collateral, the Financial Institution may liquidate ac-count assets to satisfy the client’s outstanding obligations, which could have detrimental consequences. Additionally, fluctuations in the amount of a client’s borrowings and the corresponding
interest rates may have a major effect on the profitability and stability of a client’s entire portfolio.
RISK OF LOSS
We do not state or guarantee that our services or methods of investment analysis can or will predict future results, identify market performance, or protect clients from losses due to market corrections or declines. Investing in securities involves risk of loss. We cannot offer any guarantees that your financial goals and objectives will be met. Past performance is in no way an indication of future performance.
General Investment Risk: All investments come with the risk of losing money. Investing involves substantial risks, including complete possible loss of principal plus other losses and may not be suitable for many members of the public. Investments, unlike savings and checking accounts at a bank, are not insured by the government to protect against market losses. Different market instruments carry different types and degrees of risk and you should familiarize yourself with the risks involved in the particular market instruments you intend to invest in.
Loss of Value: There can be no assurance that a specific investment will achieve its investment objectives and past performance should not be seen as a guide to future returns. The value of investments and the income derived may fall as well as rise and investors may not recoup the original amount invested. Investments may also be affected by any changes in exchange control regulation, tax laws, withholding taxes, international, political and economic developments, and government, economic or monetary policies.
Interest Rate Risk: Fixed income securities and funds that invest in bonds and other fixed in-come securities may fall in value if interest rates change. Generally, the prices of debt securities rise when interest rates fall, and their prices fall when interest rates rise. Longer term debt securities are usually more sensitive to interest rate changes.
Credit Risk: Investments in bonds and other fixed income securities are subject to the risk that the issuer(s) may not make required interest payments. An issuer suffering an adverse change in its financial condition could lower the credit quality of a security, leading to greater price volatility of the security. A lowering of the credit rating of a security may also offset the security’s liquidity, making it more difficult to sell. Funds investing in lower quality debt securities are more susceptible to these problems and their value may be more volatile.
VOTING OF CLIENT SECURITIES
If you own shares of applicable securities, you are responsible for exercising your right to vote as a shareholder. We will not vote proxies on behalf of your advisory accounts. In most cases, you will receive proxy materials directly from the account custodian.
CLASS ACTION LAWSUITS
We do not determine if securities held by you are the subject of a class action lawsuit, or if you are eligible to participate in class action settlements or litigation. We also do not initiate or participate in litigation to recover damages on your behalf.
CLIENT INFORMATION PROVIDED TO PORTFOLIO MANAGERS
Clients understand and grant Relevé the authority to discuss certain private information with hired Independent Managers or third party affiliates hired to manage their accounts on an initial and continuum bases. Our firm would be authorized to disclose personal client information including, but not limited to; names, account numbers, social security numbers, tax identification numbers, phone numbers, financial allocations and investment goals. This private information would be shared to ensure Independent Mangers’ or third party affiliates that investment deci-sions remain aligned with our clients’ financial objectives and best interests.
CLIENT CONTACT WITH PORTFOLIO MANAGERS
Clients have the right to correspond with Relevé’s Portfolio or Independent Managers. This can be facilitated by providing the Firm with written request and identification of the questions or is-sues to be discussed with the Independent Managers. After receiving a written request, Relevé may contact the Independent Managers on behalf of the client or arrange for direct contact be-tween the Independent Managers and the client.
Relevé has not been involved in any legal or disciplinary events that are material to a client’s evaluation of its advisory business or the integrity of management.
OTHER FINANCIAL INDUSTRY ACTIVITIES OR AFFILIATIONS
Certain Representatives and Officers of the Firm are licensed as insurance agents and can offer various insurance products from a variety of product sponsors and earn commissions for these activities. The Firm expects that clients to whom it offers advisory services may also be insurance clients. Clients are instructed that the fees paid to the firm for advisory services are separate and distinct from the commissions earned by any of our representatives and the Firm for placing the client in insurance products. Clients with whom the Firm offers advisory services are informed that they are under no obligation to utilize the Firm for insurance services.
dawndahlby.com is a related company, owned and managed by Dawn Jurkovich, that provides coaching services to assist women of all ages grow financially enpowered. Clients of dawn-dahlby.com do not receive any of the advisory services offered by Relevé without becoming a client of the Firm. Clients of dawndahlby.com subscribe for inspirational coaching services and information only and are under no obligation to utilize Relevé for investment advisory services.
CODE OF ETHICS
Our goal is to adhere to all applicable laws and regulations governing our business. We believe in our commitment to our fiduciary duties of honesty, good faith, and fair dealing with you, and strive to protect our client’s interests at all times. All persons associated with our Firm are expected to adhere strictly to these guidelines. We have established and enforce policies designed to prevent the misuse or dissemination of material, non-public information about you or your ac-count holdings by any person or entity affiliated with our firm. Clients and prospective clients may contact Dawn Jurkovich to request a copy of our Code of Ethics at 612-801-5416 or firstname.lastname@example.org.
Relevé monitors its clients’ investment portfolios on an ongoing basis, and conducts account reviews quarterly. Reviews are conducted by the client’s Financial Advisor. Investments are reviewed quarterly by the Investment Committee, which includes the Firm’s Principals. All in-vestment advisory clients are responsible to discuss their needs and objectives, with Relevé and to notify the Firm of any material changes. Relevé will contact investment advisory clients at a minimum annually to review previous advice and recommendations and to discuss and up-dates or changes to the clients’ financial situation and/or investment objectives.
ACCOUNT STATEMENTS AND GENERAL REPORTS
Clients will receive transaction/trade confirmation notices and account statements directly from the custodian or Financial Institutions holding their investments. Clients will also receive periodic summary reports from Relevé that may include relevant account and/or market-related information. Any reports produced by Relevé, such as a summary of account holdings and/or portfolio performance will be presented gross of Relevé’s advisory fees. It’s the client’s responsibility to compare any Relevé reports received with the summary account statements they receive from their custodian or Financial Institutions.
We do not take custody of your funds or securities. Your funds and securities will be held with a bank, broker dealer, or other independent, qualified custodian. We have the authority to deduct our advisory fees from your account, if you previously consented to such deduction. Your custodians will directly debit your account(s) for the payment of our advisory fees, and you will receive account statements from the custodian(s) holding your funds and securities. The account statements from your custodian(s) will indicate the amount of our advisory fees deducted from your account(s) each billing period. You should carefully review account statements for accuracy.
Should a trading error occur any of your accounts, our policy is to restore the affected account to the position it should have been in had the trading error not occurred. Depending on the spe-cific circumstance, our corrective actions may include; canceling the trade, reimbursing the ac-count, and/or adjusting the overall allocation. If a profit results from correcting the trade, you are not entitled to the profit as a net gain.
ADDITIONS TO AND WITHDRAWALS FROM ACCOUNT
Clients may request periodic withdrawals at the time the Client Account is opened. Client may make additions to the Client Account at any time. In the event withdrawals cause a client’s ac-count value to fall below the minimum account value for the billing period, you understand and agree that you are liable for an account fee. You also understand that rebalancing back to your original risk tolerance profile may not happen immediately.
Relevé may recommend/require that clients establish brokerage accounts with the Schwab Ad-visor Services division of Charles Schwab & Co., Inc. (Schwab), a registered broker-dealer, member SIPC, to maintain custody of clients’ assets and to effect trades for their accounts. The final decision to custody assets with Schwab is at the discretion of the Advisor’s clients, including those accounts under ERISA or IRA rules and regulations, in which case the client is acting as either the plan sponsor or IRA accountholder. Relevé is independently owned and op-erated and not affiliated with Schwab. Schwab provides Relevé with access to its institutional trading and custody services, which are typically not available to Schwab retail investors. These services generally are available to independent investment advisors on an unsolicited basis, at no charge to them so long as a total of at least $10 million of the advisor’s clients’ as-sets are maintained in accounts at Schwab Advisor Services. Schwab’s services include brokerage services that are related to the execution of securities transactions, custody, research, including that in the form of advice, analyses and reports, and access to mutual funds and other investments that are otherwise generally available only to institutional investors or would require a significantly higher minimum initial investment.
Broker dealers or custodians who execute securities transactions for our clients may also pro-vide certain brokerage products and/or services to us in exchange for the commission revenue generated by client’s trading activities. Generally, “soft dollars” is a recognized term that refers to the receipt of a product or service from a broker dealer or third party in exchange for the commissions generated from executing brokerage transactions on behalf of client accounts. Consistent with obtaining best execution, we may enter into “soft dollar” arrangements in the fu-ture but do not have arrangements in place at this time.
REFERRAL FEES AND OTHER COMPENSATION
Relevé does not directly or indirectly compensate anybody for client referrals. Other than the benefits from broker/dealers described earlier, the only form of compensation received from ad-visory accounts are the fees for advisory services.
Relevé may recommend/require that clients establish brokerage accounts with the Schwab Ad-visor Services division of Charles Schwab & Co., Inc. (Schwab), a registered broker-dealer, member SIPC, to maintain custody of clients’ assets and to effect trades for their accounts. The final decision to custody assets with Schwab is at the discretion of the Advisor’s clients, including those accounts under ERISA or IRA rules and regulations, in which case the client is acting as either the plan sponsor or IRA accountholder. Relevé is independently owned and operated and not affiliated with Schwab. Schwab provides Relevé with access to its institutional trading and custody services, which are typically not available to Schwab retail investors. These services generally are available to independent investment advisors on an unsolicited basis, at no charge to them so long as a total of at least $10 million of the advisor’s clients’ assets are maintained in accounts at Schwab Advisor Services. Schwab’s services include brokerage services that are related to the execution of securities transactions, custody, research, including that in the form of advice, analyses and reports, and access to mutual funds and other investments that are otherwise generally available only to institutional investors or would require a significantly higher minimum initial investment.
For Relevé client accounts maintained in its custody, Schwab generally does not charge separately for custody services but is compensated by account holders through commissions or other transaction-related or asset-based fees for securities trades that are executed through Schwab or that settle into Schwab accounts.
Schwab also makes available to Relevé other products and services that benefit Relevé but may not benefit its clients’ accounts. These benefits may include national, regional or Relevé specific educational events organized and/or sponsored by Schwab Advisor Services. Other potential benefits may include occasional business entertainment of personnel of Relevé by Schwab Advisor Services personnel, including meals, invitations to sporting events, including golf tournaments, and other forms of entertainment, some of which may accompany educational opportunities. Other of these products and services assist Relevé in managing and administer-ing clients’ accounts. These include software and other technology (and related technological training) that provide access to client account data (such as trade confirmations and account statements), facilitate trade execution (and allocation of aggregated trade orders for multiple cli-ent accounts), provide research, pricing information and other market data, facilitate payment of Relevé fees from its clients’ accounts, and assist with back-office training and support functions, record keeping and client reporting. Many of these services generally may be used to service all or some substantial number of Relevé accounts, including accounts not maintained at Schwab Advisor Services. Schwab Advisor Services also makes available to Relevé other services intended to help Relevé manage and further develop its business enterprise. These services may include professional compliance, legal and business consulting, publications and conferences on practice management, information technology, business succession, regulatory compliance, employee benefits providers, human capital consultants, insurance and marketing. In addition, Schwab may make available, arrange and/or pay vendors for these types of services rendered to Relevé by independent third parties. Schwab Advisor Services may discount or waive fees it would otherwise charge for some of these services or pay all or a part of the fees of a third-party providing these services to Relevé. While, as a fiduciary, Relevé endeavors to act in its clients’ best interests, Relevé recommendation/requirement that clients maintain their assets in accounts at Schwab may be based in part on the benefit to Relevé of the availability of some of the foregoing products and services and other arrangements and not solely on the na-ture, cost or quality of custody and brokerage services provided by Schwab, which may create a potential conflict of interest.
Relevé offers tax preparation services for personal (non-business related) tax return to clients that maintain $500,000 of investable assets and are charged a fee under our fee for service schedule listed in Item 4. The Firm has the right to extend this tax preparation service to any cli-ent, at our sole discretion. Relevé will compensate the CPA for services provided on your be-half, unless other fee agreements are previously agreed upon. The Firm does not receive any referral fee or compensation from the CPA. The CPA is managed under a separate entity, and Relevé shall not be held liable for any misrepresentation of any calculations filed on any tax re-turns. Relevé does not verify the accuracy of any information provided by our affiliated CPA’s, and does not ensure its compliance with presentation standards.
ADDITIONAL FINANCIAL INFORMATION
Relevé is not required to disclose any financial information pursuant to this item due to the following:
- The Firm does not require or solicit the prepayment of more than $1,200 in fees six months or more in advance of services rendered;
- The Firm does not have a financial condition that is reasonably likely to impair its ability to meet contractual commitments to clients; and
- The Firm’s Partners have not been the subject of commercial or individual bank-ruptcy petitions at any time during the past ten years.
Protecting your private information is a top priority. We have clear policies and procedures to ensure that we keep your personal information private and safe. We do not disclose any non-public personal information about you to any non-affiliated third parties, except as permitted by law. In order to service your accounts, we may share some information with our service provid-ers and third party affiliates such as; transfer agents, custodians, broker-dealers, accountants, consultants, and attorneys. We only provide internal access to non-public personal information about you to employees who need that information in order to provide products or services to you. We maintain safeguards that comply with regulatory standards to guard your non-public personal information and to ensure our integrity and confidentiality.
Relevé Financial Group
Form ADV 2Bs
724 Bielenberg Drive, Suite 102
Woodbury, MN 55125
This Brochure provides information about the qualifications and business practices of Relevé Financial Group, LLC representatives. If you have any questions about the contents of this brochure, please contact Dawn Jurkovich at 612-801-5416 or email@example.com. The information in this brochure has not been approved or verified by the United States Securities and Exchange Commission or by any state securities authority. Additional information about Relevé Financial Group, LLC, is available on the internet at www.adviserinfo.sec.gov. Our firm CRD number is 285243.
EDUCATIONAL BACKGROUND AND BUSINESS EXPERIENCE
University of Minnesota – Twin Cities │ BIS, Finance │ 1996
Recent Business Background
Relevé Financial Group, LLC │ Financial Advisor & Agent │ October 2016 – Present
NorthRock Partners, LLC │ Financial Advisor & Agent │ October 2013 – December 2016
Purshe Kaplan Sterling Investments, Inc. │ Registered Representative │ October 2013 – July 2015
IDS Life Insurance Company │ Agent │ February 2001 – October 2013
Ameriprise Financial Services, Inc. │ Financial Advisor │ February 2001 – October 2013
Dawn D. Jurkovich holds the professional designations of CERTIFIED FINANCIAL PLANNER™ (“CFP®”) and Chartered Retirement Planning CounselorSM (“CRPC®“).
The CFP® certification is a financial planning credential awarded by the Certified Financial Plan-ner Board of Standards Inc. (the “CFP Board”) to individuals who meet its education, examina-tion, experience and ethics requirements. Eligible candidates are generally required to have three years of financial planning related experience and possess a bachelor’s degree from an accredited U.S. college or university. Certificants are further required to complete a CFP Board-Registered Education Program (or possess a qualifying professional credential), clear a per-sonal and professional background check, and pass the CFP® Certification Examination, a ten-hour multiple choice exam divided into three separate sessions. In order to maintain the certifica-tion, CFP® designees must also complete at least 30 hours of continuing education every two years on an ongoing basis.
The CRPC® designation is a retirement planning credential awarded by the College for Financial Planning® to individuals who meet its educational, examination and ethical requirements. Certifi-cants are required to have completed the CRPC® Designation Program, a self-taught educa-tional program focused on various pre- and post-retirement needs of individuals. Recipients are further required to have successfully passed a multiple-choice examination addressing a range retirement related matters, such as estate planning and asset management. On an ongoing ba-sis, CRPC® designees are also required to affirm their adherence to the applicable Code of Eth-ics and complete at least 16 hours of continuing education every two years. For additional in-formation about each of these credentials, please refer directly to the website of the issuing or-ganization.
Relevé is required to disclose information regarding any legal or disciplinary events material to a client’s evaluation of Dawn D. Jurkovich. Relevé has no information to disclose in relation to this Item.
OTHER BUSINESS ACTIVITIES
Relevé is required to disclose information regarding any investment-related business or occupation in which Dawn D. Jurkovich is actively engaged.
Licensed Insurance Agent: Dawn D. Jurkovich is a licensed insurance agent and in such capacity may recommend, on a fully-disclosed commission basis, the purchase of certain insurance products. A conflict of interest exists to the extent that Relevé recommends the purchase of insurance products where Dawn D. Jurkovich receives insurance commissions or other additional compensation. Relevé seeks to ensure that all recommendations are made in the best interests of clients regardless of any additional compensation earned.
Business Owner and Manager: Dawn D. Jurkovich also owns and managers dawn dahlby.com, a related company that provides coaching services to assist women of all ages grow financially enpowered. Clients of dawndahlby.com subscribe for inspirational coaching services and information only and are under no obligation to utilize Relevé for investment advisory services.
Relevé is required to disclose information regarding any arrangement under which Dawn D. Jurkovich receives an economic benefit from someone other than a client for providing investment advisory services. Relevé has no information to disclose in relation to this Item.
Ms. Jurkovich, as President and Chief Compliance Officer is responsible for the activities and operation of the Firm. She should be contacted directly with any questions at the mailing ad-dress, email address or phone number provided on the cover of this Brochure.
EDUCATIONAL BACKGROUND AND BUSINESS EXPERIENCE
Tarrant County College, Fort Worth, TX │ Associate of Arts │ 2002
University of Texas, Arlington, TX │ Bachelor of Business Administration, Management, Cum Laude │ 2005
Private Wealth Advisor │ Relevé Financial Group │2018 – Present
Principal │Amanda Wray LLC │2018 – Present
Advisor, Business Director │ Strategic Asset Conservation, Inc. │ 2015 – 2018
Principal │ Tailor Made Plans │ 2008 – 2018
North American Securities Administration Association Series 65
TX Life, Accident, Health, and HMO │ License #1519956 │ 2008 – Present
AZ Life, Accident, Health │ License #11488965 │ 2015 – Present
IN Life, Accident, Health │ License #3268660 │ 2017 – Present
Relevé is required to disclose information regarding any legal or disciplinary events material to a client’s evaluation of Amanda Wray. Relevé has no information to disclose in relation to this Item.
OTHER BUSINESS ACTIVITIES
Relevé is required to disclose information regarding any investment-related business or occupation in which Amanda Wray is actively engaged.
Licensed Insurance Agent: Amanda Wray is a licensed insurance agent and in such capacity may recommend, on a fully-disclosed commission basis, the purchase of certain insurance products. A conflict of interest exists to the extent that Relevé recommends the purchase of in-surance products where Amanda Wray receives insurance commissions or other additional
compensation. Relevé seeks to ensure that all recommendations are made in the best interests of clients regardless of any additional compensation earned.
Relevé is required to disclose information regarding any arrangement under which Amanda Wray receives an economic benefit from someone other than a client for providing investment advisory services. Relevé has no information to disclose in relation to this Item.
Ms. Jurkovich, as President and Chief Compliance Officer is responsible for the activities and operation of the Firm and the supervision of Amanda Wray. She should be contacted directly with any questions at the mailing address, email address or phone number provided on the cover of this Brochure.
EDUCATIONAL BACKGROUND AND BUSINESS EXPERIENCE
University of Alabama, Tuscaloosa│Bachelor of Consumer Science│ Family Financial Planning and Counseling Concentration
Investment Associate │Relevé Financial Group│2018 – present
Investment Associate │Schultz Financial Group│2018
Client Associate│TCI Wealth Advisors│2017 – 2018
Associate│Pittenger & Anderson, Inc.│2016 – 2017
Receptionist│Midlands Financial Benefits│2013 – 2014
Lindsey D. Swanson holds the professional designations of CERTIFIED FINANCIAL PLAN-NER™ (“CFP®”) and Accredited Asset Management Specialist (AAMS®)
The CFP® certification is a financial planning credential awarded by the Certified Financial Planner Board of Standards Inc. (the “CFP Board”) to individuals who meet its education, examination, experience and ethics requirements. Eligible candidates are generally required to have three years of financial planning related experience and possess a bachelor’s degree from an accredited U.S. college or university. Certificants are further required to complete a CFP Board-Registered Education Program (or possess a qualifying professional credential), clear a personal and professional background check, and pass the CFP® Certification Examination, a ten-hour multiple choice exam divided into three separate sessions. In order to maintain the certification, CFP® designees must also complete at least 30 hours of continuing education every two years on an ongoing basis.
The AAMS® designation is a retirement planning credential awarded by the College for Financial Planning® to individuals who meet its educational, examination and ethical requirements. Certificants are required to have completed the AAMS® Designation Program, a self-taught educational program focused on various pre- and post-retirement investment needs of individuals. Recipients are further required to have successfully passed a multiple-choice examination ad-dressing a range retirement related matters, such as estate planning and asset management. On an ongoing basis, AAMS® designees are also required to affirm their adherence to the applicable Code of Ethics and complete at least 16 hours of continuing education every two years. For additional information about each of these credentials, please refer directly to the website of the issuing organization.
Relevé is required to disclose information regarding any legal or disciplinary events material to a client’s evaluation of Lindsey Swanson. Relevé has no information to disclose in relation to this Item.
OTHER BUSINESS ACTIVITIES
Relevé is required to disclose information regarding any investment-related business or occupation in which Swanson is actively engaged.
Relevé is required to disclose information regarding any arrangement under which Lindsey Swanson receives an economic benefit from someone other than a client for providing investment advisory services. Relevé has no information to disclose in relation to this Item.
Ms. Jurkovich, as President and Chief Compliance Officer is responsible for the activities and operation of the Firm and the supervision of Lindsey Swanson. She should be contacted directly with any questions at the mailing address, email address or phone number provided on the cover of this Brochure.