Financial Innovations, LLC is a registered investment adviser based in Atlanta, Georgia. Our firm
is organized as a limited liability company under the laws of the State of Georgia. We have been
providing investment advisory services since 2005. Our sole owner is Laura K. Schilling.
Currently, we offer the following investment advisory services, which are personalized to each
individual client:
• Portfolio Management Services
• Financial Planning Services
• Advisory Services to Retirement Plans and Plan Participants
As used in this brochure, the words “the Firm”, "we", "our" and "us" refer to Financial Innovations,
LLC and the words "you", "your" and "client" refer to you as either a client or prospective client of
our firm. Also, you may see the term “Associated Person” throughout this Brochure. As used in
this Brochure, our Associated Persons are our firm's owner(s), employees, and all individuals
providing investment advice on behalf of our firm.
We are a fee-based independent financial adviser that provides wealth management services by
incorporating financial planning, investment portfolio management and other aggregated financial
services. The combination of industry experience and comprehensive research allows our firm to
provide quality advisory services to our clients. Our integrated suite of services may be offered to
clients on an all-inclusive or individual basis. Please refer to the description of each investment
advisory service listed below for information on how we tailor our advisory services to your
individual needs.
Portfolio Management Services
We offer non-discretionary portfolio management services. Our investment advice is tailored to
meet our clients' needs and investment objectives. If you enter into non-discretionary
arrangements with our firm, we must obtain your approval prior to executing any transactions on
behalf of your account. You have an unrestricted right to decline to implement any advice provided
by our firm on a non-discretionary basis.
If you retain our firm for portfolio management services, we will meet with you to determine your
investment objectives, risk tolerance, and other relevant information (the "suitability information")
at the beginning of our advisory relationship. We will use the suitability information we gather from
our initial meeting to develop a strategy that enables our firm to give you continuous and focused
investment advice and/or to make investments on your behalf. As part of our portfolio
management services, we will customize an investment portfolio for you in accordance with your
risk tolerance and investing objectives. Once we construct an investment portfolio for you, we will
monitor your portfolio's performance on an ongoing basis and will rebalance the portfolio as
required by changes in market conditions and in your financial circumstances.
At our discretion should you retain us for portfolio management services we may offer a
complimentary written financial plan. Please see Financial Planning Services below for more
information.
VISION2020 Wealth Management Platform – Advisor Managed Portfolios Program
The VISION2020 Wealth Management Platform – Advisor Managed Portfolios Program (“Advisor
Managed Portfolios”) (formerly named Triad Wealth Management Platform – Advisor Managed
Portfolios) provides comprehensive investment management of your assets through the
application of asset allocation planning software as well as the provision of execution, clearing
and custodial services through National Financial Services, Inc. (“NFS”).
Advisor Managed Portfolios provides risk tolerance assessment, efficient frontier plotting, fund
profiling and performance data, and portfolio optimization and re-balancing tools. Utilizing these
tools and discussions that you and your Advisory Representative have together regarding, among
other things, your personal investment objectives and goals, time horizon, risk tolerance, account
restrictions, needs, personal circumstances and overall financial situation, we construct a portfolio
of investments for you. Your Advisory Representative has the option to allocate your portfolio
amongst a mix of stocks, bonds, options, exchange-traded funds, mutual funds and other
securities (“Program Investments”) which are based on your investment goals, objectives, and
risk tolerance.
Each portfolio is designed to meet your individual needs, stated goals and objectives. Additionally,
you can place reasonable restrictions on the types of investments to be held in the portfolio.
For further Advisor Managed Portfolios details, please see the VISION2020 Wealth Management
Platform Advisor Managed Portfolios Wrap Fee Program Brochure. We provide this brochure to
you prior to or concurrent with your enrollment in Advisor Managed Portfolios. Please read it
thoroughly before investing.
Financial Planning Services
We offer broad-based, modular, and consultative financial planning services to our clients and
prospective clients. Financial planning will typically involve providing a variety of advisory services
to clients regarding the management of their financial resources based upon an analysis of their
individual needs. If you retain our firm for financial planning services, we will meet with you to
gather information about your financial circumstances and objectives. We may also use financial
planning software to determine your current financial position and to define and quantify your
long-term goals and objectives. Once we specify those long-term objectives (both financial and
non-financial), we will develop shorter-term, targeted objectives. Once we review and analyze the
information you provide to our firm and the data derived from our financial planning software, we
will deliver a written plan to you, designed to help you achieve your stated financial goals and
objectives.
Our written financial plan services initially involve a complimentary consultation. Thereafter, we
provide analysis and recommendations in the six areas of financial planning, which include: (1)
financial situation (personal data, cash flow, etc.); (2) income taxes; (3) insurance; (4)
investments; (5) retirement planning; and (6) estate planning.
In order to determine a suitable course of action for an individual client, we shall perform a review
of the variables that are presented. Such review may include, but would not necessarily be limited
to, investment objectives, consideration of the client's overall financial condition, income and tax
status, personal and business assets, risk profile, and other factors unique to the client's particular
circumstances.
We shall review the client's present financial situation and issue a written analysis and report of
recommendations in accordance with the client's goals and objectives. This service may include
an initial consultation and subsequent follow-up visits. Unless engaged separately to do so, we
will not be responsible for the implementation of the plan. The client assumes full responsibility
for the implementation of the plan. The services provided in this regard may include but would not
be limited to the following:
• Preparation of a personal financial statement;
• Creation of a cash flow statement;
•
Review current investments and make recommendations thereon;
• Review client's most recent tax returns and provide tax planning advice and/or
recommend tax preparation services;
• Review client's life insurance, long-term care, and disability insurance and make
recommendations thereon;
• Review client's estate plan and make recommendations thereon;
• Complete a retirement analysis; and
• Provide education planning advice.
Our fees for a written financial plan may be affected by several factors such as the complexity of
pertinent circumstances, the responsibility assumed by us, the potential benefit resulting to the
client and the perceived probability of certain anticipated complications that may arise. Although
not an all-inclusive list, the following factors may impact the fee charged to a client:
• investment objectives;
• consideration of the client's overall financial condition, including current financial
holdings;
• net worth;
• income and tax status, personal and business assets;
• marital status;
• number of dependents;
• risk profile;
• previous investment experience; and
• other factors unique to the client's particular circumstances.
It should be noted that the above listed factors are NOT intended to represent prospective
examples of ALL factors that may contribute to the ultimate fee determination for any given client;
however, any of these factors COULD contribute to such. Further, no single one of these factors
should be solely relied upon in a client's fee arrangement determination.
Financial plans are based on your financial situation at the time we present the plan to you, and
on the financial information you provide to us. You must promptly notify our firm if your financial
situation, goals, objectives, or needs change.
You are under no obligation to act on our financial planning recommendations. Should you choose
to act on any of our recommendations, you are not obligated to implement the financial plan
through any of our other investment advisory services. Moreover, you may act on our
recommendations by placing securities transactions with any brokerage firm.
Due to the time spent on financial plans, there is no refund when terminating your financial
planning agreement. However, if the plan is inclusive of a client’s asset management service,
there will be a pro-rata refund.
Advisory Services to Retirement Plans and Plan Participants
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 adviser 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 below).
The services we provide to your Plan are described above, and in the service agreement that you
have previously signed. Our compensation for these services mirrors our fees for Portfolio
Management Services as described above and also 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.
Financial Innovations, LLC is registered as an investment adviser under the Investment Advisers
Act of 1940 and represents that it is not subject to any disqualification as set forth in Section 411
of ERISA. In performing the Fiduciary Services, it is acting as a fiduciary of the Plan as defined in
Section 3(21) under the Employee Retirement Income Security Act (“ERISA”) for purposes of
providing non-discretionary investment advice only.
IRA Rollover Recommendations
For the purpose of complying with the DOL's Prohibited Transaction Exemption 2020-02 ("PTE
2020-02"), when applicable, we are providing the following acknowledgment to clients. When the
Firm provides investment advice to clients regarding their retirement plan account or individual
retirement account, we are a fiduciary 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 the Firm makes money creates some conflicts with client interests.
We operate under an exemption that requires the Firm to act in the clients’ best interest and not
put the Firm’s or its employees’ interest ahead of the clients. Under this exemption, we must:
• meet a professional standard of care when making investment recommendations (give
prudent advice),
• never put the Firm’s or its employees’ financial interests ahead of the clients when
making recommendations (give loyal advice),
• avoid making misleading statements about conflicts of interest, fees, and investments,
• follow policies and procedures designed to ensure that the Firm and its employees give
advice that is in the clients’ best interest,
• charge no more than is reasonable for services, and
• give the clients basic information about conflicts of interest.
We benefit financially from the rollover of the clients’ assets from a retirement account to an
account that the Firm manages or provides investment advice, because the assets increase the
Firm’s assets under management and, in turn, its advisory fees. As a fiduciary, we only
recommend a rollover when the Firm and its employees believe it is in the clients’ best interest.
SEMINARS AND WORKSHOPS
Financial Innovations, LLC holds seminars and workshops to educate the public on different types
of investments and the different services they offer. The seminars are educational in nature and
no specific investment or tax advice is given.
Types of Investments
We primarily offer advice on mutual funds, exchange traded funds ("ETFs"), stocks, corporate
bonds, and municipal bonds. Additionally, we may advise you on any type of investment that we
deem appropriate based on your stated goals and objectives. We may also provide advice on any
type of investment held in your portfolio at the inception of our advisory relationship.
You may request that we refrain from investing in particular securities or certain types of
securities. You must provide these restrictions to our firm in writing.
Assets Under Management
As of March 8, 2024, we manage a total of $362,884,830 in client assets on a non-discretionary
basis and $0 in client assets on a discretionary basis.