Read & Powell Financial Services, LLC is a SEC registered investment adviser with its principal
place of business located in Elko, Nevada. Read & Powell Financial Services, LLC began
conducting business in 2000.
Listed below are the firm's principal shareholders:
• Nick Stanley Konakis, CPA
• Eric Wiseman LLC
Read & Powell Financial Services, LLC offers the following advisory services to our clients:
INDIVIDUAL PORTFOLIO MANAGEMENT
Our firm provides continuous asset management of client funds based on the individual needs of
the client. Through personal discussions in which goals and objectives based on the client's
particular circumstances are established, we develop the client's personal investment policy. We
create and manage a portfolio based on that policy. During our data-gathering process, we
determine the client's individual objectives, time horizons, risk tolerance, and liquidity needs. As
appropriate, we also review and discuss a client's prior investment history, as well as family
composition and background.
We manage these advisory accounts on a discretionary basis. Account supervision is guided by
the client's stated objectives (i.e., maximum capital appreciation, growth, income, or growth
and income), as well as tax considerations.
Clients may impose reasonable restrictions on investing in certain securities, types of
securities, or industry sectors.
Once the client's portfolio has been established, we review the portfolio quarterly, and if
necessary, rebalance the portfolio on an annual basis, based on the client's individual needs.
Our investment recommendations are not limited to any specific product or service offered by a
broker-dealer or insurance company and will generally include advice regarding the following
securities:
• Exchange-listed securities
• Securities traded over-the-counter
• Corporate debt securities (other than commercial paper)
• Certificates of deposit
• Municipal securities
• Variable annuities
• Mutual fund shares
• United States governmental securities
• Interests in partnerships investing in oil and gas interests
Because some types of investments involve certain additional degrees of risk, they will only be
recommended when consistent with the client's stated investment objectives, tolerance for
risk, liquidity and suitability.
FINANCIAL PLANNING
We provide financial planning services. Financial planning is a comprehensive evaluation of a client's
current and future financial state by using currently known variables to predict future cash flows, asset
values and withdrawal plans. Through the financial planning process, all questions, information and
analysis are considered as they impact and are impacted by the entire financial and life situation of the
client. Clients purchasing this service receive a written report which provides the client with a detailed
financial plan designed to assist the client achieve his or her financial goals and objectives.
In general, the financial plan can address any or all of the following areas:
• PERSONAL: We review family records, budgeting, personal liability, estate information and
financial goals.
• TAX & CASH FLOW: We analyze the client's income tax and spending and planning for past,
current and future years; then illustrate the impact of various investments on the client's
current income tax and future tax liability.
• INVESTMENTS: We analyze investment alternatives and their effect on the client's
portfolio.
• INSURANCE: We review existing policies to ensure proper coverage for life, health,
disability, long-term care, liability, home and automobile.
• RETIREMENT: We analyze current strategies and investment plans to help the client achieve
his or her retirement goals.
• DEATH & DISABILITY: We review the client's cash needs at death, income needs of surviving
dependents, estate planning and disability income.
• ESTATE: We assist the client in assessing and developing long-term strategies, including as
appropriate, living trusts, wills, review estate tax, powers of attorney, asset protection plans,
nursing homes, Medicaid and elder law.
We gather required information through in-depth personal interviews. Information gathered
includes the client's current financial status, tax status, future goals, returns objectives and attitudes
towards risk. We carefully review documents supplied by the client, including a questionnaire
completed by the client, and prepare a written report. Should the client choose to implement the
recommendations contained in the plan, we suggest the client work closely with his/her attorney,
accountant, insurance agent, and/or stockbroker. Implementation
of financial plan
recommendations is entirely at the client's discretion.
We also provide general non-securities advice on topics that include tax and budgetary planning,
estate planning and business planning.
• Exchange-listed securities
• Securities traded over-the-counter
• Corporate debt securities (other than commercial paper)
• Certificates of deposit
• Municipal securities
• Variable life insurance
• Variable annuities
• United States governmental securities
• Interests in partnerships investing in oil and gas interests
Typically the financial plan is presented to the client within six months of the contract date,
provided that all information needed to prepare the financial plan has been promptly provided.
WRAP FEE PROGRAMS
A “wrap fee” program is one that provides the client with advisory and brokerage execution services for
an all-inclusive fee (the client is not charged separate fees for the respective components of the total
service). Read & Powell Financial Services, LLC actively solicits advisory clients for the program.
In evaluating the program, clients should consider that, depending upon the level of the wrap fee
charged, the amount of portfolio activity in the client’s account, the broker dealer's usual commission
rates, and other factors, the wrap fee may be more or less than the aggregate cost of such services if
they were to be provided separately and if Read & Powell Financial Services, LLC were to negotiate
commissions and seek best price and execution of transactions for the client's account.
Further, clients should be aware that the person recommending the program to the client may receive
compensation as a result of the client’s participation in the program; that the amount of this
compensation may be more than what the person would receive if the client participated in other
programs of the sponsor or paid separately for investment advice, brokerage, and other services; and
that the person may therefore have a financial incentive to recommend the wrap fee program over other
programs or services.
Read & Powell Financial Services, LLC participates in the Fidelity Managed Account Xchange
Program (“FMAX”), offered by Fidelity Institutional Wealth Adviser LLC (“FIWA”), a registered
investment adviser and an indirect, wholly owned subsidiary of Fidelity Investments.
Fidelity Managed Account Xchange Program
FMAX offers Read & Powell Financial Services, LLC a technology platform of tools and related services
to assist the firm in evaluating an Investor’s financial needs and enables Read & Powell Financial
Services, LLC to build personalized solutions for their Investors. Read & Powell Financial Services,
LLC can leverage the Platform’s tools to gain an understanding of an Investor’s financial needs and to
develop and deliver recommendations that align with those needs. While the Platform provides tools
designed to assist Read & Powell Financial Services, LLC in Investor profiling, Read & Powell
Financial Services, LLC is solely responsible for obtaining appropriate information concerning the
Investor’s financial resources, risk tolerance, and investment objectives in order to produce a
personalized and appropriate recommendation. The Platform uses several analytical tools in developing
its asset allocation strategies. Among the factors considered in designing these strategies are historical
rates of risk and return for various asset classes, correlation across asset classes, and risk premiums.
FMAX provides the Intermediary with investment tools and related services such as the Investment
Proposal Tool (“Proposal”), which can be configured to include an Investor Profile Questionnaire (“IPQ”).
FMAX also provides the Intermediary with access to other related services, including investment product
due diligence, performance reporting, investment consulting services, integrated access to a wide array
of investment products, investment model management tools, advisory programs with corresponding
rebalancing, trading, and clearing and custody services, as described below.
FMAX integrates with a variety of FinTech capabilities, including those affiliated with FIWA such as
eMoney Advisor LLC (“eMoney”) (financial planning), and WealthscapeSM (an affiliated brokerage portal
of Fidelity Institutional). Generally, the Intermediary separately contracts for these services directly with
applicable FIWA affiliates.
More information can be found in FIWA’s Fidelity Managed Account Xchange Brochure on the
Investment Adviser Public Disclosure at https://adviserinfo.sec.gov/firm/brochure/301896.
AMOUNT OF MANAGED ASSETS
As of December 31, 2023, we were actively managing $127,954,484 of total client assets
on a discretionary basis.