Sage has been registered with the SEC and various state regulatory agencies as a registered investment advisor since 1996. Sage is a Nevada Limited Liability Company and commenced operations in January 1996. Sage is a subsidiary of Wealthspire Advisors LLC. On December 30, 2022, Sage was acquired by Wealthspire Advisors LLC (“Wealthspire”), a SEC- registered investment advisor wholly owned by NFP Corp. (previously known as National Financial Partners Corp.) (“NFP”). Following the acquisition, Sage became a subsidiary of Wealthspire. Sage intends to maintain a separate client brochure until such time as the operations of Wealthspire and Sage are sufficiently integrated to merit a combined client brochure. Brian Loy is a Senior Vice President, Gregory H. Friedman is the firm’s Chief Strategy Officer; Mike LaMena is the firm’s Chief Executive Officer; Eric Sontag is the firm’s President and Chief Operating Officer; Hoyt Stastney is the firm’s General Counsel; Michael Moriarty is the firm’s Chief Investment Officer; Michael Del Priore is the firm’s Chief Compliance Officer; and Brian Powers is the firm’s Chief Financial Officer. Our primary mission is to help clients make smart financial decisions for greater security, control and peace of mind. We are independent, a fiduciary to our clients, and objective (we are compensated on a fee-only basis). The three major services are:
• Financial planning
• Investment management
• Advisory Services to Retirement Plans and Plan Participants Financial Planning Services - The firm's founder began his career in the financial planning industry in 1980. Financial planning, for individuals or organizations, is basically a process:
• Clarifying and defining goals
• Understanding the present situation, risks, and outlooks
• Evaluating various action plans to achieve those goals
• Implementing the course(s) that "best fit"
• Make adjustments along the way as goals and conditions change This dynamic process is one of the cornerstones of our practice. Financial Planning Services - Provided to clients on a streamlined or comprehensive basis. They are tailored to the client's specific needs, and generally include analysis and advice on personal and business planning. Clients are not obligated to implement Sage recommendations. Comprehensive personal financial planning (includes a written financial plan) may include the following areas:
• Wealth Planning - What will it take for me to retire and stay retired? Defining savings and spending, investment returns required, and diversification and asset allocation to achieve financial independence goals.
• Other Financial Goals - Various strategies to achieve college funding, debt reduction, and major asset acquisition (disposition) goals.
• Business Owner Considerations - Evaluation and recommendations in various areas including profitability, employee benefit plans, and transition planning.
• Employee Benefits - Evaluation and recommendations regarding deferred compensation and retirement plans, employee stock options, and group insurance.
• Tax and Estate Planning - Discuss general tax and estate planning concepts. This involves coordination with clients' CPAs and attorneys as Sage is not licensed to provide tax or legal advice.
• Risk Management - Review insurance coverage (e.g. life, disability, health, and liability) and general recommendations for discussion with clients' insurance agents. This too involves coordination with clients' insurance agents; Sage is not licensed to sell insurance products. When appropriate, Sage may provide Client with recommendations of licensed insurance agents (some of whom may be affiliated with parent company NFP) for the purchase of various types of insurance. Sage does not accept or receive referral compensation from any of the firms to whom it refers clients. Financial planning involves many areas of specialization (e.g. tax and accounting, legal, banking, insurance, business valuation, etc.) that is beyond Sage's expertise. And therefore, Sage may coordinate with clients' team of professionals. Investment Management Services - Sage manages and monitors client portfolios on a discretionary basis. Portfolios are generally based on an asset allocation and investment policy based on an overall financial plan (long-term), and not driven by market conditions (short-term). Our primary focus is to achieve client's long-term goals and to minimize risk (i.e. smooth the market "ups and downs"). The suggested minimum for investment management is $750,000. Investment services may include:
• Defining client's long-term investment objectives (investment returns required to achieve financial goals) and risk tolerance (portfolio price volatility), while understanding client's situation and needs (e.g. how much cash flow is needed from portfolio, when is cash flow needed, tax and legal considerations, and preferences).
• Research and analysis of investments and market conditions.
• Development of suitable investment strategies, and execution of a "best fit" investment plan
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Monitoring and rebalancing the portfolio on a regular basis (generally monthly and no less than quarterly) and adjusting as necessary.
• Maintaining regular communication with clients (e.g. review if goals or situation have changed).
• Preparation of quarterly portfolio reports for clients (and special reports as needed, such as tax planning and preparation, committee and board meetings, etc.).
• Other Investment Advisory Services - On a very limited basis, clients ask Sage for advice regarding other investments, including investment allocations within their variable annuities and company retirement plans. Also, clients have infrequently requested general advice on private investment and limited partnership investment proposals. Some clients direct their own investments, and Sage's responsibilities are limited to reporting services only. This may occur when clients are business owners, provide employer sponsored retirement plans, and make available self-directed retirement accounts to eligible employees (e.g. SIMPLE IRA and 401k). In those cases, Sage helps the business owner open participant accounts, and the employees elect whether Sage manages on a discretionary basis or reporting only. Advisory Services to Retirement Plans and Plan Participants - As disclosed above, we offer various levels of advisory and consulting services to employee benefit plans ("Plan") and to the participants of such plans ("Participants"). The services are designed to assist plan sponsors in meeting their management and fiduciary obligations to Participants under the Employee Retirement Income Securities Act ("ERISA"). Pursuant to adopted regulations of the U.S. Department of Labor, we are required to provide the Plan's responsible plan fiduciary (the person who has the authority to engage us as an investment advisor to the Plan) with a written statement of the services we provide to the Plan, the compensation we receive for providing those services, and our status, which is described in the status section below. The services we provide to your Plan are described above, and in the service agreement that you sign. Our compensation for these services is described in Item 5 in this brochure and in the service agreement. We do not reasonably expect to receive any other compensation, direct or indirect, for the services we provide to the Plan or Participants, unless the plan sponsor directs us to deduct our fee from the plan or directs the plan record-keeper to issue payment for our fee out of the plan. If we receive any other compensation for such services, we will (i) offset the compensation against our stated fees, and (ii) we will promptly disclose the amount of such compensation, the services rendered for such compensation and the payer of such compensation to you. Status - In providing services to the Plan and Participants, our status is that of an investment advisor registered under the Investment Advisers Act of 1940, and we are not subject to any disqualifications under Section 411 of ERISA. In performing fiduciary services, we are acting either as a non-discretionary fiduciary of the Plan as defined in Section 3(21) under ERISA, or as a discretionary fiduciary of the plan as defined in Section 3(38) under ERISA. IRA Rollover Recommendations Effective December 20, 2021 (or such later date as the US Department of Labor (“DOL”) Field Assistance Bulletin 2018-02 ceases to be in effect), for purposes of complying with the DOL’s Prohibited Transaction Exemption 2020-02 (“PTE 2020-02”) where applicable, we are providing the following acknowledgment to you. 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, so we operate under a special rule that requires us to act in your best interest and not put our interest ahead of yours. Under this special rule’s provisions, 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 policies 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 conflicts of interest. We benefit financially from the rollover of your assets from a retirement account to an account that we manage or provide investment advice, because the assets increase our assets under management and, in turn, our advisory fees. As a fiduciary, we only recommend a rollover when we believe it is in your best interest. Assets Under Management - As of March 17, 2023, Sage managed $216,292,088 in discretionary assets and $3,947,788 assets on a non-discretionary basis.