Firm Description
TRUE MEASURE WEALTH MANAGEMENT, (formerly Meridian
Management) was founded in 1998.
TRUE MEASURE WEALTH MANAGEMENT provides personalized
confidential financial planning and investment management to individuals,
trusts, estates, and small businesses. Advice is provided through
consultation with the client and may include: determination of financial
objectives, identification of financial problems, cash flow management, tax
planning, insurance review, investment management, education funding,
retirement planning, and estate planning.
TRUE MEASURE WEALTH MANAGEMENT is a fee-only financial planning
and investment management firm. The firm is not affiliated with entities that
sell financial products, securities or insurance products.
Investment advice is an integral part of financial planning. In addition, TRUE
MEASURE WEALTH MANAGEMENT advises clients regarding cash flow,
college planning, retirement planning, tax planning and estate planning.
Investment advice is provided, with the client making the final decision on
investment selection. TRUE MEASURE WEALTH MANAGEMENT does not
act as a custodian of client assets. The client always maintains asset control.
Unless such authority is withheld by client, TRUE MEASURE WEALTH
MANAGEMENT will supervise and direct the investments of the account
subject to such limitations as client may impose by notice in writing. TRUE
MEASURE WEALTH MANAGEMENT, as agent and attorney-in-fact with
respect to the Account, may direct custodian to buy, sell, exchange, convert,
and otherwise trade in any stocks, bonds, index futures and index options,
and other securities (including money market, limited partnerships, mutual
funds and listed stock options). TRUE MEASURE WEALTH MANAGEMENT
will supervise and direct the investments of the account held at custodian on
a discretionary basis, unless client specifically requests otherwise.
An overview of each client's initial situation is provided to the client, often in
the form of a net worth statement. Periodic reviews are also communicated
to provide reminders of the specific courses of action that need to be taken.
Additional reviews may occur but are not necessarily communicated to the
client unless immediate changes are recommended.
Other professionals (e.g., lawyers, accountants, insurance agents, etc.) are
engaged directly by the client on an as-needed basis. Conflicts of interest will
be disclosed to the client in the unlikely event they should occur.
The initial meeting, which may be by telephone, is free of charge and is
considered an exploratory interview to determine the extent to which financial
planning and investment management may be beneficial to the client.
Principal Owners
Patrick Tucker is a 100% stockholder.
Types of Advisory Services
TRUE MEASURE WEALTH MANAGEMENT provides asset management
services and furnishes investment advice through consultations. Client
establishes an investment advisory account(s) and appoints TRUE
MEASURE WEALTH MANAGEMENT as the advisor to supervise and
develop an asset allocation strategy using an appointed custodian to
implement said strategy in accordance with the client’s stated objectives, time
horizon, risk tolerance and financial goals. At a minimum, client will receive a
quarterly account statement from the custodian showing the account activity
as well as the positions held in the account at quarter end. The client may
also receive quarterly a written statement of investments of the account from
the custodian showing portfolio values including performance results for the
quarter.
TRUE MEASURE WEALTH MANAGEMENT uses the custodial services of
SEI, Charles Schwab & Co., and Betterment Institutional. SEI is a global
provider of asset management, investment processing, and investment
operations solutions for personal wealth management. SEI provides
investment advisors with comprehensive wealth management services
through outsourced investment management, back office, and administrative
functions. Charles Schwab & Co. is a provider of brokerage and custody
services to investment advisors and their clients. Betterment Institutional is a
provider of brokerage and custody services to investment advisors and their
clients. Given that each client’s situation is unique, a determination of which
custodian to appoint is determined after an evaluation of all relevant facts and
circumstances.
On more than an occasional basis, TRUE MEASURE WEALTH
MANAGEMENT furnishes advice to clients on matters not involving
securities, such as financial planning matters, taxation issues, and trust
services that often include estate planning.
Assets Under Management
As of December 2023, TRUE MEASURE WEALTH MANAGEMENT manages
approximately $207,724,830.00 assets for approximately 348 clients. Approximately
$207,724,830.00 is managed on a discretionary basis, and $0.00 is managed on a
non-discretionary basis.
Tailored Relationships
The goals and objectives for each client are documented in our client
relationship management system.
Clients may impose restrictions on investing in certain securities or types of
securities.
Agreements may not be assigned without client consent.
Types of Agreements
The following agreements define the typical client relationships.
Advisory Agreement
Financial Planning Services
TRUE MEASURE WEALTH MANAGEMENT shall provide for client the
services identified on the statement of work (see below), or in any statement
of work subsequently entered into between the parties from time to time in
accordance with the requirements set forth on such statement of work. Client
shall pay TRUE MEASURE WEALTH MANAGEMENT fees for the services
as set forth on the statement of work. TRUE MEASURE WEALTH
MANAGEMENT has made and will make no guarantees or assurances as to
the outcome of any engagement or to the extent of time and effort that will be
involved in connection therewith, and specifically disclaims any warranties
client may be entitled to as a consumer. It is understood and agreed that
during the course of the engagement, client may elect not to implement
specific recommendations outlined and/or recommended by TRUE
MEASURE WEALTH MANAGEMENT. TRUE MEASURE WEALTH
MANAGEMENT may appoint or otherwise designate suitable employees,
agents and representatives to fulfill its obligations under this agreement and
the employment, supervision and compensation of such individuals shall be at
its sole and direct expense, responsibility and risk.
Statement of Work
Freedom of lifestyle requires clarity, focus and a unique perspective. At TRUE
MEASURE WEALTH MANAGEMENT we partner with our clients to maintain
lasting financial independence for more enjoyment today and confidence
about tomorrow. Our approach allows clients to capture a wealth of
opportunities through multi-faceted personal and business planning solutions.
Discovery
Maximize your personal and financial vision. During the first step of our
process, we’ll meet to discuss your lifestyle and legacy goals and will collect
current financial documents to assess areas of opportunities, challenges, and
strengths.
Direction
Once we’ve identified objectives and completed a financial review, we’ll meet
to provide direction for moving forward. During this discussion, we’ll present
an assessment report of your current planning, as well as the unique
opportunities and challenges you face.
Depth
Because successful long-term planning requires a deep understanding of
personal and financial objectives, we’ll meet to conduct a financial personality
review and lifetime vision discussion. We’ll incorporate your core values,
habits and risk tolerance into a comprehensive strategy.
Delivery
In step four, we are actively engaged in the implementation of your personal
and financial vision. During the initial implementation phase, we will meet to
discuss project deliverables and time lines and will provide training for the
online component of our services.
Dynamic
Because life is dynamic, we’ll coordinate periodic reviews to ensure that plans
are growing with you as your needs and objectives evolve. By maintaining an
active process, you’ll achieve lasting financial independence and an enduring
lifetime legacy.
Financial Planning Fees
Client shall pay TRUE MEASURE WEALTH MANAGEMENT for its services,
as set forth in the Advisory Agreement, an annual planning fee due upon
receipt of invoice from Meridian. This fee entitles the client to participate in
TRUE MEASURE WEALTH MANAGEMENT’s financial planning process.
Fees charged may be negotiated. Such fees may differ based upon a number
of factors, including, but not limited to, the number and range of supplemental
advisory and client-related services to be provided by TRUE MEASURE
WEALTH MANAGEMENT to the client.
Investment Management Agreement
Investment Management Services
Client hereby establishes an investment advisory account(s) and appoints
TRUE MEASURE WEALTH MANAGEMENT as the advisor to supervise and
develop an asset allocation strategy using an appointed custodian to
implement said strategy in accordance with the client’s stated objectives, time
horizon, risk tolerance and financial goals. At a minimum, client will receive a
quarterly account statement from the custodian showing the account activity
as well as the positions held in the account at quarter end. The client may
also receive quarterly a written statement of investments of the account from
the custodian showing portfolio values
including performance results for the
quarter.
Investment Management Fees and Expenses
Client shall pay TRUE MEASURE WEALTH MANAGEMENT for its services,
as set forth in the Investment Management Agreement, an annual portfolio
management fee (see “Annual Fee Schedule” below) to be paid quarterly in
arrears (on a calendar quarter basis) as a percent of the portfolio’s market
value. The portfolio’s market value will be based on the closing value as of the
final business day of each calendar quarter. Certain customary costs or
charges are assessed to the client by the custodian. These costs are payable
by the client and are not included, or a part of, the management fee.
Payment of fees will be made through a quarterly debit to client’s account.
However, management fees may be billed directly to the client if so requested
in writing by the client. Client authorizes custodian to deduct for TRUE
MEASURE WEALTH MANAGEMENT any and all fees, when due, from the
assets contained in the account.
Additional assets received into the account during any fee period may be
charged a pro-rated management fee based on the number of days remaining
in the fee period as against the total number of days in the fee period. In the
event the Investment Management Agreement is terminated by either party
prior to the end of the fee period, a pro-rata billing of the management fee will
be made.
The management fee and/or fee schedule may be modified by TRUE
MEASURE WEALTH MANAGEMENT upon notice to client. Fees charged
may be negotiated. Such fees may differ based upon a number of factors,
including, but not limited to, the type of account, the size of the account, and
the number and range of supplemental advisory and client-related services to
be provided by TRUE MEASURE WEALTH MANAGEMENT to the client. All
accounts owned by the client and managed by TRUE MEASURE WEALTH
MANAGEMENT will be aggregated to determine a discount, if any, to be
applied to the management fee as outlined in the Fee Schedule below:
TRUE MEASURE WEALTH MANAGEMENT.
Annual Fee Schedule
Account Asset Value Annual Management Fee
All Assets Managed 1.00%
Hourly Planning Engagements
TRUE MEASURE WEALTH MANAGEMENT provides hourly planning
services for clients who need advice on a limited scope of work. The hourly
rate for limited scope engagements is $300.
Asset Management
Assets are invested primarily with third party money management firms, no-
load or low-load mutual funds and exchange-traded funds, usually through
custodians, discount brokers or fund companies. Custodians and fund
companies charge each fund shareholder an investment management fee
that is disclosed in the fund prospectus. Discount brokerages may charge a
transaction fee for the purchase of some funds.
Stocks and bonds may be purchased or sold through a brokerage account
when appropriate. The brokerage firm charges a fee for stock and bond
trades. TRUE MEASURE WEALTH MANAGEMENT does not receive any
compensation, in any form, from fund companies.
Investments may also include: equities (stocks), warrants, corporate debt
securities, commercial paper, certificates of deposit, municipal securities,
investment company securities (variable life insurance, variable annuities,
and mutual funds shares), U. S. government securities, options contracts,
futures contracts, and interests in partnerships.
Initial public offerings (IPOs) are not available through TRUE MEASURE
WEALTH MANAGEMENT.
Unified Managed Account Program
We offer discretionary investment management services in a managed
account program through an Overlay Manager (the “UMA Program”). This
UMA Program may consist of using model portfolio advisers, model portfolios
or other investment options such as mutual funds and/or exchange-traded
funds (“ETFs”) to represent different investment strategies for managing your
account. Each of these investment strategies is designed to meet a specific
goal.
Prior to investing in the UMA Program, you will execute a discretionary
investment management agreement with us setting forth the terms and
conditions of our management of your investments within the UMA Program.
Depending on the management services the client selects, the client will grant
us limited discretionary authority to manage the client account through
selection of an overlay manager (“Overlay Manager”), third party strategist
(“Strategist”) and/or third party managers (“Managers”; collectively, “Third-
Party Service Providers”). In addition, the client will authorize the custodian to
follow our instructions as well as instructions given by Overlay Manager to
effect transactions, deliver securities, deduct fees and take other actions with
respect to the client account. The client will not have a direct contractual
relationship with the Overlay Manager or any other Third-Party Service
Provider.
The timing of trades in the client account will primarily depend upon the model
or changes in the model and, generally, will not take into consideration how
long a client may have held the position indicated by the model.
We will retain the right to replace any Strategist or Manager on a discretionary
basis. Depending on the service a client has selected, we will separately
provide the client with the firm brochure (Part 2 of Form ADV) for the
applicable Third-Party Service Provider(s) which includes information about
their services, model portfolios, and investment strategies at or before the
execution of our discretionary investment management agreement.
Tax Overlay Manager Services
Tax overlay management services are available as an option for accounts
utilizing the UMA Program through the Overlay Manager. If you elect tax
overlay management services, the portion of your fee paid as the
management fee on your account will increase. The Overlay Manager will
develop a tax strategy for your account based on the information and
instructions provided by us on your behalf. Tax overlay management services
in an investment account offer benefits and limitations, as described below.
The tax strategy developed for you by the Overlay Manager is provided solely
in connection with your account and the Overlay Manager does not provide
general tax planning services. If you do elect the tax overlay management
services option, please consider the following:
• The Tax Overlay Manager will implement tax overlay management
services based on the information and instructions provided for
your account(s).
• The Tax Overlay Manager does not provide general tax advice, tax
return preparation or tax planning services.
The Tax Overlay Manager will seek to reduce the overall tax burden
of the account while seeking to maintain the risk and return
characteristics of the model portfolios received from Strategists
and/or Managers.
• When providing tax overlay management services to the account,
short-term gains are avoided where possible, but long-term gains
are not limited unless you have requested a mandate to limit
realized long-term gains.
The Overlay Manager will provide tax overlay management services with the
assumption that the Overlay Manager will continue to provide services to the
account for an entire tax year. The termination or removal of the overlay
management services before the completion of an entire tax year may result
in adverse tax consequences, including without limitation realization of short-
term capital gains. Regardless of your account size or any other factors, we
strongly recommend that you continuously consult with a tax professional
prior to and throughout the investing of your assets.
The Tax Overlay Management Services are offered at an additional cost to
you.
Termination of Agreement
A Client may terminate any of the aforementioned agreements at any time by
notifying TRUE MEASURE WEALTH MANAGEMENT in writing and paying
the rate for the time spent on the investment advisory engagement prior to
notification of termination. If the client made an advance payment, TRUE
MEASURE WEALTH MANAGEMENT will refund any unearned portion of the
advance payment.
TRUE MEASURE WEALTH MANAGEMENT may terminate any of the
aforementioned agreements at any time by notifying the client in writing. If the
client made an advance payment, TRUE MEASURE WEALTH
MANAGEMENT will refund any unearned portion of the advance payment.
Written Acknowledgement of Fiduciary Status
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.