AUA Private Wealth Advisors, LLC (hereinafter “AUA Private Wealth” or the “firm”) is a registered investment
advisor based in West Conshohocken, Pennsylvania. We are a limited liability company organized under the laws
of the Commonwealth of Pennsylvania. We have been providing investment advisory services since 2022. Michael
Salerno is the Principal and Manager of AUA Private Wealth.
You may see the term Associated Person throughout this Brochure. As used in this Brochure, this term refers to
anyone from our firm who is an officer, an employee, and all individuals providing investment advice on behalf of
our firm. Where required, such persons are properly registered as investment adviser representatives.
Currently, we offer wealth management services, personalized for each individual client:
Wealth Management Services
AUA Private Wealth provides broad-based wealth management services to clients. This service combines financial
planning with ongoing portfolio management. Wealth management clients first receive a financial plan that is
used to assist AUA Private Wealth in organizing a client’s financial information and determining the scope of
services that are most suitable for the client’s financial situation and investment needs. The financial plan is based
upon an analysis of the client’s individual needs that are discussed through one or more information gathering
consultations. Once the firm has collected and analysed all documentation gathered during these consultations,
AUA Private Wealth provides a written financial plan designed to achieve the client’s financial goals and
objectives. AUA Private Wealth then assists clients in developing a strategy for the successful management of
income, assets, and liabilities. In general, financial planning services may include any one or all of the following:
• Cash Flow Analysis – Assessment of present financial situation by collecting information regarding net
worth and cash flow statements, tax returns, insurance policies, investment portfolios, pension plans,
employee benefit statements, etc. The firm advises on ways to reduce risk; and, to coordinate and
organize records and estate information.
• Retirement Analysis – Identification of long-term financial and personal goals and objectives including
advice for accumulating wealth for retirement income or appropriate distribution of assets following
retirement. Tax consequences and implications are identified and evaluated.
• Insurance Analysis – Includes risk management associated with advisory recommendations based on a
combination of insurance types to meet your needs, e.g., life, health, disability, and long-term care
insurance. This will necessitate an analysis of cash needs of the client’s family at death, income needs of
surviving dependents, and potential disability income needs.
• Portfolio Analysis/Investment Planning – Presentation of investment alternatives, including asset
allocation and its effect on the client’s portfolio; evaluation of economic and tax characteristics of
existing investments as well as their suitability for the client; and, identification and evaluation of tax
consequences and their implications.
• Education Savings Analysis – Alternatives and strategies with respect to the complete or partial funding
of college or other post-secondary education.
• Estate Analysis – Advising clients with respect to property ownership, distribution strategies, estate tax
reduction, and tax payment techniques.
Financial plans are based on your financial situation based on the information provided to the firm. We should be
notified promptly of any change to your financial situation, goals, objectives, or needs.
Once a financial plan is in place, the firm implements investment recommendations as part of its ongoing portfolio
management service. The financial plan is monitored and revised on an as needed basis.
Our firm offers discretionary portfolio management services to our clients. Discretionary portfolio management
means we will make investment decisions and place buy or sell orders in your account without contacting you.
These decisions would be made based upon your stated investment objectives. If you wish, you may limit our
discretionary authority by, for example, setting a limit on the type of securities that can be purchased for your
account. Simply provide us with your restrictions or guidelines in writing.
AUA Private Wealth does not specialize in specific types of securities. We can advise clients on various types of
securities, such as exchange listed equities, over-the-counter equities, foreign issues, American depository
receipts, corporate debt securities, commercial paper, certificates of deposit, municipal securities, investment
company securities (including mutual funds and exchange traded funds), US Government securities, options
contracts on securities and/or commodities, private equity instruments, and interests in partnership investing in
real estate. Additionally, will provide advice on existing investments you may hold at the inception of the advisory
relationship or on other types of investments for which you ask advice.
We monitor our clients’ portfolios on a continuous basis, and rebalance the portfolio whenever necessary, as
changes occur in market conditions, and/or your financial circumstances.
Recommendation of Sub-Advisors
As part of our overall portfolio management strategy, we may recommend sub-advisors to manage all or a portion
of your account. All sub-advisors recommended by our firm must either be registered as investment advisers or
exempt from registration requirements. These sub-advisors may specialize in traditional or alternative
investments. Factors that we take into consideration when making our recommendations include, but are not
limited
to, the following: the sub-advisor’s performance, methods of analysis, fees, your financial needs,
investment goals, risk tolerance, and investment objectives. Once a sub-advisory account has been established,
we will provide administrative and clerical duties that are required to service your account. The sub-advisor will
have little or no direct contact with you. Our responsibility to you will be to: (i) continuously evaluate the
performance of your portfolio to ensure the sub-advisor selected adheres to your asset allocation guidelines; (ii)
make recommendations regarding the sub-advisor as market factors and your personal goals dictate, (iii) assume
discretionary authority to hire or fire the sub-advisor where such action is deemed to be in your best interest.
Appointment as a Sub-Advisor
AUA Private Wealth provides sub-advisory services to clients of certain investment advisers (the “primary
adviser”) that have signed a sub-advisory agreement with our firm. In these situations, the primary adviser will
engage our firm to provide wealth management services to clients of the primary adviser (the “end client”). The
primary adviser shares the end client’s financial information with us to assist us in the preparation of all necessary
financial plans, and grants us discretionary authority to manage, invest and reinvest the assets held in the end
client’s account(s). Where we have been engaged to provide advice with respect to only a part of any end client’s
assets, it is expressly agreed that we assume no duty, responsibility or liability for assets that are not assigned to
us for investment management services.
Rollover Services Disclosure
In conjunction with the advisory services offered, we may 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.
When our firm or our Associated Person(s) recommend an investor rollover plan assets into an Individual
Retirement Account (“IRA”), our Associated Person(s), and we earn an asset-based fee as a result. However, no
compensation is received 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, your fees and expenses will increase because fees will apply
to assets rolled over to an IRA and ongoing services will be extended to these assets.
Further, you may incur other levels of fees and expenses, including, but not limited to, investment-related
expenses imposed by other service providers and mutual fund managers not affiliated with us, as well as other
fees and expenses charged by the custodian, third-party administrator, and/or record-keeper. We make no
representations or warranties relating to any costs or expenses associated with the services provided by any third
parties, and you understand that these fees are in addition to the fee paid to us for the rollover advice.
In cases where we provide you with rollover advice as defined by the Department of Labor, which may also include
setting up and/or completing the rollover transaction, we do not serve as a custodian, and we do not provide
legal advice to you. In addition, we do not have any responsibilities or potential liabilities in connection with assets
not related to the rollover and investments that are not managed by us.
When we provide investment advice to you regarding your retirement plan account or individual retirement
account, we are 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. The way we make
money creates some conflicts with your interests. In accordance with various rules and regulations, we must act
in your best interest and we must not put our interests ahead of your interests. Additionally, we must: meet a
professional standard of care when making investment recommendations (give prudent advice); never put our
financial interests ahead of yours when making recommendations (give loyal advice); avoid misleading statements
about conflicts of interest, fees, and investments; follow polices, and procedures designed to ensure that we give
advice that is in your best interest; charge no more than is reasonable for our services; and give you basic
information about any conflicts of interest.
We rely on all information you provide to us, whether financial or otherwise, without independent verification.
We request that you promptly notify us in writing of any material change in the financial and other information
provided to us, and to promptly provide any such additional information as may be reasonably requested by us.
Due to the volatile and unpredictable nature of financial markets, we do not guarantee any future performance,
any specific level of performance, or the success of any recommendations or strategies that we may take or
recommend for you, or the success of our overall recommendations. Investment recommendations are subject
to various market, currency, economic, political, and business risks, and investment decisions will not always be
profitable.
Wrap Fee Programs
We do not sponsor, manage, or participate in any wrap fee programs.
Assets Under Management
As of March 5, 2023, we manage approximately $102,874,867 in client assets on a discretionary basis and
approximately $0 in client assets on a non-discretionary basis.