Resonant offers a variety of advisory services, which include financial planning, consulting, and investment
management services. Prior to Resonant rendering any of the foregoing advisory services, clients are
required to enter into one or more written agreements with Resonant setting forth the relevant terms and
conditions of the advisory relationship (the “Advisory Agreement”).
Resonant registered with the U.S. Securities and Exchange Commission as an investment adviser in August
2018 and is principally owned by Benjamin Dickey and Walter Dewey. As of December 31, 2023, Resonant
had $1,747,858,866 in assets under management, $1,496,453,133 of which was managed on a discretionary
basis and $251,405,733 of which was managed on a non-discretionary basis.
While this brochure generally describes the business of Resonant, certain sections also discuss the activities
of its Supervised Persons, which refer to the Firm’s officers, partners, directors (or other persons occupying
a similar status or performing similar functions), employees or other persons who provide investment advice
on Resonant’s behalf and are subject to the Firm’s supervision or control.
Financial Planning and Consulting Services
Resonant offers clients a broad range of financial planning and consulting services, which may include
any or all of the following functions:
• Business Planning;
• Cash Flow Forecasting;
• Trust and Estate
Planning;
• Financial Reporting;
• Investment Consulting;
• Insurance Planning;
• Philanthropic Planning;
• Retirement Planning;
• Risk Management;
• Charitable Giving;
• Distribution Planning;
• Tax Document Collection;
• Tax Planning, and
• Manager Due Diligence.
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While each of these services is available on a stand-alone basis, certain of them can also be rendered in
conjunction with investment portfolio management as part of a comprehensive wealth management
engagement (described in more detail below).
In performing these services, Resonant is not required to verify any information received from the client or
from the client’s other professionals (e.g., attorneys, accountants, etc.) and is expressly authorized to rely
on such information. Resonant recommends certain clients engage the Firm for additional related services,
and/or other professionals to implement its recommendations. Clients are advised that a conflict of interest
exists for the Firm to recommend that clients engage Resonant or its affiliates to provide (or continue to
provide) additional services for compensation, including investment management services. Clients retain
absolute discretion over all decisions regarding implementation and are under no obligation to act upon any
of the recommendations made by Resonant under a financial planning or consulting engagement. Clients
are advised that it remains their responsibility to promptly notify the Firm of any change in their financial
situation or investment objectives for the purpose of reviewing, evaluating or revising Resonant’s
recommendations and/or services.
Investment Advisory and Wealth Management Services
Resonant manages and/or advises on client investment portfolios on a discretionary or non-discretionary
basis. In addition, Resonant provides certain clients with wealth management services which include a
broad range of financial planning and consulting services as well as discretionary investment management
and/or non-discretionary advisory investment services.
Resonant primarily allocates client assets among various mutual funds, exchange-traded funds (“ETFs”),
and independent investment managers (“Independent Managers”) in accordance with their stated
investment objectives. The Firm may also recommend and/or invest client assets in individual debt and
equity securities, options, alternative investments, real estate investment trusts, and master limited
partnerships (“MLPs”), as appropriate. In addition, Resonant may also recommend that certain eligible
clients invest in privately placed securities, which may include debt, equity and/or interests in pooled
investment vehicles (e.g., hedge funds). Clients can also engage Resonant to manage and/or advise on
certain investment products that are not maintained at their primary custodian, such as variable life insurance
and annuity contracts and assets held in employer sponsored retirement plans and qualified tuition plans
(i.e., 529 plans). In these situations, Resonant directs or recommends the allocation of client assets among
the various investment options available with the product. These assets are generally maintained at the
underwriting insurance company or the custodian designated by the product’s provider.
Resonant tailors its advisory services to meet the needs of its individual clients and seeks to ensure, on a
continuous basis, that client portfolios are managed in a manner consistent with those needs and objectives.
Resonant consults with clients on an initial and ongoing basis to assess their specific risk tolerance, time
horizon, liquidity constraints and other related factors relevant to the management of their portfolios. Clients
are advised to promptly notify Resonant if there are changes in their financial situation or if they wish to
place any limitations on the management of their portfolios. Clients can impose reasonable restrictions or
mandates on the management of their accounts if Resonant determines, in its sole discretion, the conditions
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would not materially impact the performance of a management strategy or prove overly burdensome to the
Firm’s management efforts.
Schwab Institutional Intelligent Portfolios Program
The Firm provides some of its portfolio management services through an automated investment program
(the “IIP Program”) through which clients are invested in a range of investment strategies the Firm has
constructed and manages, each consisting of a portfolio of ETFs and a cash allocation. The client may
instruct the Firm to exclude up to three ETFs from their portfolio. The client's portfolio is held in a brokerage
account opened by the client at Charles Schwab & Co., Inc. (“CS&Co”). The Firm uses the Institutional
Intelligent Portfolios® platform (“Platform”), offered by Schwab Performance Technologies (“SPT”), a
software provider to Independent Investment advisors and an affiliate of CS&Co, to operate the IIP Program.
The Firm is independent of and not owned by, affiliated with, or sponsored or supervised by SPT, CS&Co,
or their affiliates (together, “Schwab”). The Firm, and not Schwab, is the client's investment advisor and
primary point of contact with respect to the IIP Program. The Firm is solely responsible, and Schwab is not
responsible, for determining the appropriateness of the IIP Program for the client, choosing a suitable
investment strategy and portfolio for the client's investment needs and goals, and managing that portfolio
on an ongoing basis. The Firm has contracted with SPT to provide it with the Platform, which consists of
technology and related trading and account management services for the IIP Program. The Platform enables
the Firm to make the IIP Program available to clients online and includes a system that automates certain
key parts of the Firm’s Investment process (the “System”). The System includes an online questionnaire
that helps the Firm determine the client's investment objectives and risk tolerance and select an appropriate
investment strategy and portfolio. Clients should note that the Firm will recommend a portfolio via the
System in response to the client's answers to the online questionnaire. The client may then indicate an
interest in a portfolio that is one level less or more conservative or aggressive than the recommended
portfolio, but the Firm then makes the final decision and selects a portfolio based on all the information the
Firm has about the client. The System also includes an automated investment engine through which the
Firm manages the client's portfolio on an ongoing basis through automatic rebalancing and tax-loss
harvesting (if the client is eligible and elects). The Firm charges clients a fee for its services as described
below under Item 5 Fees and Compensation. The Firm’s fees are not set or supervised by Schwab. Clients
do not pay brokerage commissions or any other fees to CS&Co as part of the IIP Program. Schwab does
receive other revenues in connection with the IIP Program. The Firm does not pay SPT fees for the Platform
so long as it maintains $100 million in client assets in accounts at
CS&Co that are not enrolled in the IIP
Program.
Use of Independent Managers
As mentioned above, Resonant selects certain Independent Managers (including third-party managers and
subadvisors) to actively manage a portion of its clients’ assets. The specific terms and conditions under
which a client engages an Independent Manager may be set forth in a separate written agreement with the
designated Independent Manager, including any fees charged by the Independent Manager in addition to
Resonant’s fees. In addition to this brochure, clients may also receive the written disclosure documents of
the respective Independent Managers engaged to manage their assets.
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Resonant evaluates a variety of information about Independent Managers, which includes the Independent
Managers’ public disclosure documents, materials supplied by the Independent Managers themselves and
other third-party analyses it believes are reputable. To the extent possible, the Firm seeks to assess the
Independent Managers’ investment strategies, past performance and risk results in relation to its clients’
individual portfolio allocations and risk exposure. Resonant also takes into consideration each Independent
Manager’s management style, returns, reputation, financial strength, reporting, pricing and research
capabilities, among other factors.
Resonant continues to provide services relative to the discretionary or non-discretionary selection of the
Independent Managers. On an ongoing basis, the Firm monitors the performance of those accounts being
managed by Independent Managers. Resonant seeks to ensure the Independent Managers’ strategies and
target allocations remain aligned with its clients’ investment objectives and overall best interests.
Third-Party Managers and Alternative Investments
Clients may designate third-party investment managers to manage some of their account assets, and the
Firm may make recommendations to clients regarding third-party managers. Likewise, clients may
authorize the Firm to present “alternative investment” opportunities to them. Alternative investments are
securities offered by virtue of a private placement exemption from registration pursuant to the Securities
Act of 1933 and may include investments in real estate, hedge funds, and private equity funds as well as
funds-of-funds. At the discretion and direction of clients, the Firm may oversee the diversification of a
client’s investment portfolio with alternative investments subscribed to directly by the client.
The Firm will review the performance of the client’s designated third-party managers and alternative
investment choices based on both absolute and comparative performance to benchmarks. Among other
considerations, the Firm will also review the allocations, if any, to determine whether the client’s portfolio
is appropriately diversified and whether the consolidated account risk profile matches the client’s risk
tolerance. The Firm will then make recommendations to its clients as to whether or how their third-party
manager and/or alternative investment allocation should change in order to achieve the client’s desired
investment objectives.
If clients designate third-party managers for the Firm to review and/or aggregate investment or performance
information on in the context of providing the client a view of the entirety of their investable asset base, the
Firm may charge an asset-based fee or flat fee (subject to negotiation) to the client for providing these
services.
Subadvisors
The Firm may delegate management of all or a portion of a client’s account to one or more unaffiliated
subadvisors, provided that the Firm has been authorized to do so by the client and the Firm believes that
such delegation would be appropriate for the client. In the event that the Firm engages an unaffiliated
subadvisor to manage a portion or all of a client’s account, the Firm will provide on-going review and
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oversight of the unaffiliated subadvisor. The Firm will review the performance of any subadvisor based on
both absolute and comparative performance to benchmarks. Among other considerations, the Firm will also
review and monitor the qualifications and disclosures of any subadvisor that it uses. If authorized by a
client, the Firm retains the discretionary authority to hire and/or replace any subadvisor when warranted by
the circumstances, as part of the Firm's engagement to manage the client’s account consistent with the
client's engagement with the Firm.
Retirement Plan Consulting Services
Resonant provides various consulting services to qualified employee benefit plans and their fiduciaries.
This suite of institutional services is designed to assist plan sponsors in structuring, managing and
optimizing their corporate retirement plans. Each engagement is individually negotiated and customized,
and may include some or all of the following services:
• Plan Design and Strategy;
• Plan Review and Evaluation;
• Executive Planning and
Benefits;
• Investment Selection;
• Plan Fee and Cost Analysis;
• Plan Committee Consultation;
• Fiduciary and Compliance; and
• Participant Education.
The Firm may also offer discretionary investment management services to certain retirement plans. As
disclosed in the Advisory Agreement, certain of the foregoing services are provided by Resonant as a
fiduciary under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). In
accordance with ERISA Section 408(b)(2), each plan sponsor is provided with a written description of
Resonant’s fiduciary status, the specific services to be rendered and all direct and indirect compensation
the Firm reasonably expects under the engagement.
Investment, Institutional, and Business Consulting Services
Investment Consulting Services
The Firm provides investment consulting services on behalf of clients. In such situations, the Firm makes
investment recommendations to clients but assumes no responsibility for the implementation of its
recommendations. It is up to the client to accept or reject the Firm’s recommendations and to implement
such recommendations if accepted.
Institutional Consulting Services
Resonant also renders investment and non-investment related consulting services to various institutions and
independent third parties as part of its institutional consulting services. Resonant’s institutional consulting
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services are specialized engagements individually negotiated with each institution based upon their specific
needs. Resonant’s institutional consulting services are not available to individuals, but rather address
fundamental issues affecting various institutions within Resonant’s area of concentration. Among other
things, the Firm offers outsourced Chief Investment Officer (“OCIO”) services. Through this OCIO
offering, the Firm provides some or all of the following investment and administrative services:
• Investment Policy Advice with Asset
Allocation and Capital Market Research;
• Active Portfolio Design, Projections and
Education;
• Active Manager Search, Selection and
Monitoring;
• Active Portfolio Monitoring and Risk
Management;
• Investment Policy Statement
Documentation;
• Comprehensive Reporting;
• Affiliate Relationship Support;
• Portfolio Operations and Treasury
Services; and
• Measurement and Reporting Services.
Business Consulting
Finally, Resonant also provides business consulting services, with a particular focus on family-owned
closely held businesses. Resonant’s business consulting services are specialized engagements individually
negotiated with each family or business based upon their specific needs. The Firm provides some or all of
the following business consulting services:
• Family Legacy, Succession and
Communication Planning;
• Strategic Planning & Visioning;
• Family Office Strategy, Structure and
Communication Consulting;
• Key Employee & Advisor Coordination;
• Transaction Advisory (M&A Consulting);
• Risk Management Advisory;
• Capital Allocation Advisory;
• Business Strategy & Forward-Looking
Financial and Execution Planning;
• Business Development & Public Relations
Advisory;
• Benefits Consulting;
• Software Development and
Implementation;
• Shared Services; and
• Board and Governance.
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