Introduction
Talon Private Wealth, LLC (“Talon” the “Firm,” “we” “us” or “our”) is registered with the Securities and Exchange Commission as an investment adviser. Brokerage and investment advisory services and fees differ, and it is important for retail investors to understand the differences. Free and simple tools are available to research firms and financial professionals at Investor.gov/CRS, which also provides educational materials about broker-dealers, investment advisers, and investing.
Relationships and Services
What investment services and advice can you provide me?
We offer investment advisory services to retail investors.
Our financial planning services involve assisting clients with financial and cash management, risk management, financial issues relating to divorce or the death of a family member, insurance planning, estate planning, tax issues, retirement planning, educational funding, goal setting, or other needs identified by us or the client after a review of the client’s financial circumstances. After collecting and reviewing the pertinent data and identifying goals, objectives, concerns, and
potential solutions, we present the client with a written financial analysis.
Our portfolio management services involve managing individualized portfolios for our clients through subadvisors. The portfolios use a variety of securities, including bonds, common stock, options, exchange traded funds, exchange listed real estate investment trusts, mutual funds, and treasury bonds. We offer our portfolio management services on a discretionary basis. Discretionary management allows us or the subadvisor to place trades without first obtaining the client’s consent.
We require a minimum account size of $25,000 to be a client of our portfolio management services.
Additional Information:
PLEASE SEE TALON’S ADV 2A ITEM 4 CONCERNING THE ADVISORY SERVICES WE OFFER AND ITEM ADV PART 2A ITEM 7
FOR THE TYPES OF CLIENTS WE SERVE AT https://adviserinfo.sec.gov/firm/summary/298714
Conversation Starters:
- “Given my financial situation, should I choose an investment advisory service? Why or why not?”
- “How will you choose investments to recommend to me?”
- “What is your relevant experience, including your licenses, education and other qualifications? What do these qualifications mean?”
Fees, Costs, Conflicts, and Standard of Conduct
What fees will I pay?
For our financial planning services, we charge hourly or fixed fee depending the type of plan created. Our hourly rate is $250; the number of hours will vary depending upon the complexity of the client’s financial situation and the preparation required to address the client’s financial issues and concerns. Our fixed fee is $1500. One half of the estimated hourly fee or the fixed fee is collected up-front when signing the financial planning agreement, and the remaining balance will be collected at delivery of the written financial plan. If the client prepays fees in excess of $1200, our services will be completed within 6 months of the date we receive the fee.
For our portfolio management services, we charge an annual fee that is based on the assets under management in the client’s account. Our maximum annual fee is 1.50%. Our portfolio management fee is calculated and billed monthly in arrears.
Because our portfolio management fees are based on the amount of assets in your account, this gives us an incentive to encourage clients to increase the assets in their accounts, because the more assets there are in the account, the more fees we receive.
In addition to our fees, the client will pay an additional management fee to the subadvisor. There are additional charges imposed by custodian along with deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage accounts and securities transactions. Mutual funds and exchange traded funds also charge internal management fee, which are disclosed in a fund’s prospectus. These charges, fees, and commissions are exclusive of and in addition to our fee. We do not receive any portion of these charges, fees, or commissions.
Additional Information:
You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount
of money you make on your investments over time. Please make sure you understand what fees and costs you are
paying. You can find more detailed information about our fees and costs in Item 5 of our Firm Brochure.
Conversation Starter:
“Help me understand how these fees and costs might affect my investments. If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me?”
What are your legal obligations to me when acting as my investment adviser? How else does your firm make money and what conflicts of interest do you have?
When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the investment advice we provide you. Here are some examples to help you understand what this means:
(a) Some of our associates are independent insurance agents. They may recommend these services to our clients. These services pay the associates commissions that are separate from the fees we collect. This creates a financial incentive for these associates to recommend and sell insurance products to our clients.
(b) Our owner is also the minority owner of Retirement Wealth Advisors, LLC and Brookstone Capital Management, LLC. We currently recommend Brookstone Capital Management, LLC as the subadvisor to manage our portfolios. This creates a conflict of interest because Brookstone Capital Management, LLC charges a separate management fee. This creates an
incentive for us to use Brookstone Capital Management, LLC as a subadvisor on our client accounts.
(c) We receive economic benefits from the custodians Fidelity Investments and TD Ameritrade, which are typically not available to retail investors. This creates an incentive for us to recommend Fidelity Investments and TD Ameritrade for custodial or brokerage services.
Additional Information:
You can find more detailed information about our conflicts of interest in Items 10 and 14 of our Firm Brochure. https://adviserinfo.sec.gov/firm/summary/298714
Conversation Starter:
“How might your conflicts of interest affect me, and how will you address them?”
How do your financial professionals make money?
Our financial professionals make money from the fees charged to manage your accounts. They can earn up to 1.50% of the annual management fee charged to your account. The 1.50% is included in the total fee as described above and in the firm brochure, Form ADV 2A. Additional information about compensation arrangements for our financial professionals and related conflicts of interest are found in the financial professional Form ADV 2B.
Disciplinary History
Do you or your financial professionals have legal or disciplinary history?
Yes, some of our financial professionals have a legal or disciplinary history; however, our firm does not.
Additional Information:
Visit Investor.gov/CRS for a free and simple search tool to research us and our financial professionals.
Conversation Starter:
“As a financial professional, do you have any disciplinary history? For what type of conduct?”
Additional Information
You can find additional information about our investment advisory services and request a copy of our relationship summary using one of the following:
Website: www.Talonwm.com Telephone: 352-752-3200
Email: mikelester@talonwm.com Mail: 11974 County Road 101, Suite 103, The Villages, FL 32162
Conversation Starter:
“Who is my primary contact person? Is he or she a representative of an investment adviser or a broker-dealer? Who canI talk to if I have concerns about how this person is treating me?”