A. Description of the Advisory Firm
Weinberger Asset Management, Inc. (hereinafter “WAM”) is a Corporation organized in the
State of California. The firm was formed in November 1993, and the principal owner is
Alexander Weinberger, President & Chief Compliance Officer.
B. Types of Advisory Services
Portfolio Management Services
WAM offers ongoing portfolio management services based on the individual goals,
objectives, time horizon, and risk tolerance of each client. WAM meets with the client to gather
information regarding the client’s current situation (income, tax levels, risk tolerance levels,
etc.) and then constructs a plan to aid in the selection of a portfolio that matches each client's
specific situation. Portfolio management services include, but are not limited to, the following:
• Investment strategy
• Asset allocation
• Risk tolerance
• Asset selection
• Regular portfolio monitoring
WAM evaluates the current investments of each client with respect to their risk tolerance levels
and time horizon. WAM will request discretionary authority from clients to select securities
and execute transactions without permission from the client prior to each transaction.
WAM seeks to provide that investment decisions are made in accordance with the fiduciary
duties owed to its accounts and without consideration of WAM’s economic, investment or other
financial interests. To meet its fiduciary obligations, WAM attempts to avoid, among other
things, investment or trading practices that systematically advantage or disadvantage certain
client portfolios, and accordingly, WAM’s policy is to seek fair and equitable allocation of
investment opportunities/transactions among its clients to avoid favoring one client over
another over time. It is WAM’s policy to allocate investment opportunities and transactions it
identifies as being appropriate and prudent, including initial public offerings ("IPOs") and
other investment opportunities that might have a limited supply, among its clients on a fair and
equitable basis over time.
Selection of Other Advisers
As part of our overall portfolio management services, from time to time, we may recommend
that clients use the services of one or more unaffiliated, independent third-party managers
(“sub-advisers”) to manage clients’ investment portfolios. Some or all of the assets in the client’s
account(s) may be managed using one or more model portfolios developed by us or others. All
sub-advisers recommended by our firm must either be registered as investment advisers or
exempt from registration requirements in the jurisdiction in which the client resides. When
selecting a particular sub-adviser, model portfolio, or program, the client's best interest will be
the main determining factor. Other factors that we take into consideration when selecting sub-
advisers include, but are not limited to the sub-adviser’s performance history, methods of
analysis, fees, the client’s financial needs, investment goals, risk tolerance, and investment
objectives. We will regularly monitor the sub-adviser’s performance to ensure their
management and investment style remains aligned with the client’s investment goals and
objectives. In some cases, the client may be required to execute a separate advisory agreement
or trading authorization with certain sub-advisers or the account custodian for certain
managers available through the custodian’s platform. Additionally, we have engaged another
investment adviser at our expense to assist us with back-office services, including placing trades
through the account custodian based on our allocation instructions. In such cases, the client will
not pay additional fees for these back-office services.
Retirement Plan Services
WAM offers services to sponsors of defined benefit or defined contribution plans based upon
the plan’s specific needs and negotiated between the plan sponsor and WAM. Such services
may include one or more of the following services as agreed upon between the plan sponsor
and WAM as set forth in a written retirement plan consulting agreement.
• Plan Level Ongoing Services offered on a discretionary basis (ERISA 3(38) Services)
include preparation of an investment policy statement (IPS), discretionary investment
management, selection of a qualified default investment alternative (QDIA),
performance monitoring and reporting of investments, education services to plan
fiduciaries, counseling services to plan fiduciaries on increasing participant retirement
readiness, participant investment education services, participant enrollment services,
concierge services, requests for proposals/plan vendor search, benchmarking services,
and/or assistance in identifying plan fees.
• Plan Level Ongoing Services offered on a non-discretionary basis (ERISA 3(21) Services)
include advice regarding development of an investment policy statement (IPS), non-
discretionary investment advice to the plan, non-discretionary advice on a qualified
default investment alternative (QDIA), education services to plan fiduciaries,
counseling services to plan fiduciaries on increasing participant retirement readiness,
participant investment education services, participant enrollment services, concierge
services, requests for proposals/plan vendor search, benchmarking services, and/or
assistance
in identifying plan fees.
• Participant Level Ongoing Services offered include individualized investment adviser
for plan participants as agreed upon by between the plan sponsor and WAM.
Services Limited to Specific Types of Investments
WAM generally limits its investment advice to mutual funds, fixed income securities, real estate
funds (including REITs), insurance products including annuities, equities, ETFs (including
ETFs in the gold and precious metal sectors), treasury inflation protected/inflation linked
bonds, commodities, non-U.S. securities, venture capital funds, and private placements. WAM
may use other securities as well to help diversify a portfolio when applicable. Generally, clients
may propose reasonable restrictions on the types of investments (such as specific types of
securities, specific securities, or specific industries) to be made for their accounts at any time by
providing a written request to us. We will promptly communicate such requests to any selected
sub-advisers. However, clients whose assets are invested in model portfolios may not be able
to set restrictions on the specific holdings or allocations within the model, nor on the types of
securities that can be purchased in the model. However, clients may exclude certain assets from
management in model portfolios. We would not have discretion to manage any assets held
outside the model portfolios and the client would be responsible for the management of any
outside assets, as we would not have trading authorization for those accounts.
IRA Rollover Considerations
As a normal extension of financial advice, we provide education or recommendations related
to the rollover of an employer-sponsored retirement plan. A plan participant leaving
employment has several options. Each choice offers advantages and disadvantages, depending
on desired investment options and services, fees and expenses, withdrawal options, required
minimum distributions, tax treatment, and the investor's unique financial needs and retirement
plans. The complexity of these choices may lead an investor to seek assistance from us.
An Associated Person who recommends an investor roll over plan assets into an Individual
Retirement Account (“IRA”) may earn an asset-based fee as a result, but no compensation if
assets are retained in the plan. Thus, we have an economic incentive to encourage an investor
to roll plan assets into an IRA. In most cases, fees and expenses will increase for the investor as
a result because the above-described fees will apply to assets rolled over to an IRA, and outlined
ongoing services will be extended to these assets.
We are fiduciaries under the Investment Advisers Act of 1940 and when we provide investment
advice to you regarding your retirement plan account or individual retirement account, we are
also fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act
and/or the Internal Revenue Code, as applicable, which are laws governing retirement
accounts. We have to act in your best interests and not put our interests ahead of yours. At the
same time, the way we make money creates some conflicts with clients’ interests.
Non-Advisory Services
We may offer tax preparation services to advisory clients and non-advisory clients. All tax
services are offered through a Certified Public Accountant (CPA) or Enrolled Agent (EA)
employed by the firm. Tax preparation services and fees are separate from and in addition to
advisory services and fees. Clients are not obligated to utilize tax services offered through our
firm or any individual associated with our firm. Tax clients are not obligated to utilize advisory
services offered through our firm. None of our management persons or investment adviser
representatives are licensed CPAs or EAs and do not provide tax services.
C. Client Tailored Services and Client Imposed Restrictions
WAM will tailor a program for each individual client. This will include an interview session to
get to know the client’s specific needs and requirements as well as a plan that will be executed
by WAM on behalf of the client. WAM may use model allocations together with a specific set
of recommendations for each client based on their personal restrictions, needs, and targets.
Clients may impose restrictions in investing in certain securities or types of securities in
accordance with their values or beliefs. However, if the restrictions prevent WAM from properly
servicing the client account, or if the restrictions would require WAM to deviate from its
standard suite of services, WAM reserves the right to end the relationship.
We consider liquidity needs and other client-specific needs. We tailor our advisory services to
individual client needs; consistent with this approach clients may restrict both certain types of
investments and investments in certain types of securities.
D. Wrap Fee Programs
A wrap fee program is an investment program where the investor pays one stated fee that
includes management fees, transaction costs, fund expenses, and other administrative fees.
WAM does not participate in any wrap fee programs.
E. Amounts Under Management
WAM has the following assets under management:
Discretionary Amounts:
Non-discretionary
Amounts:
Date Calculated:
$360,155,504 $0.00 02/21/2024