Fiduciary Advisor Advocates, LLC (“FAA” or the “Firm”) was formed in 2013 to provide investment advisory and related support services through a proprietary, co-operative alliance platform. FAA is currently wholly-owned by Mr. T. Patrick Mulvey who is the Firm’s Founding- Managing Partner and CEO. FAA seeks to utilize its strategic alliances with its partners to assist and support middle-market investment advisors in the discharge of their fiduciary responsibilities. FAA also offers such independent registered investment advisors the operational and investment advisory and research support tools necessary to succeed in obtaining, managing and retaining middle-market institutional clients and family/individual wealth and high net worth (“HNW”) sophisticated clients.
FAA operates co-operative alliance platform. After a due diligence process, it uses a selective process to admit investment advisors as members that it believes share its guiding principles of fiduciary focus, clarity, transparency and investment excellence. Membership is subject to initial and ongoing due diligence and subject to approval of existing members.
As a member of the FAA cooperative platform, each admitted investment advisory member firm is supported by FAA’s strategic partners, including: Callan LLC (“Callan”), an independent institutional consultant and investment advisor with over US$22 Billion in assets under management, provides institutional quality asset allocation, manager research and monitoring, along with education for members; Natixis Global Asset Management (“Natixis”) provides overlay manager and investment advisory services to the FAA platform through a unified managed account (“UMA”) program and platform structure to handle investment implementation that is consistent with a client’s strategic investment policy in serving as a managed portfolio advisor; Managed Portfolio Advisors (MPA) is a division of NGAM Advisors, L.P., a subsidiary of Natixis Global Asset Management, L.P., an investment advisor that provides a customizable open architecture implementation solution that can combine different types of investments (e.g., mutual funds, ETFs, etc.) and separately managed account overlays in one unified managed account; and FAA is a co-coordinator of the FAA/Callan/MPA UMA structure, and we provide advisory related services to and support other independent advisors who act in a discretionary manner with this service. FAA primarily supports investment advisors wishing to develop and enhance a scalable fiduciary practice by providing such advisors with investment research capabilities and create a process-driven firm. FAA assists its advisor-clients with business development tools such as advisor and client education, request for proposal or “RFP” support, investment policy statement (IPS) generation and point of sale support. In addition, FAA provides institutional quality research regarding asset allocation, investment portfolio structuring and investment monitoring. FAA also provides investment allocation recommendations to the registered investment advisor members in relation to their clients.
Independent investment advisors receive this Form ADV based upon their decision to contract with FAA for advisory services for their firms. Investors may also receive this ADV based upon their decision to engage their independent registered investment advisor to manage a portfolio consisting of cash and securities and their advisor's decision to use FAA for services.
Additionally, FAA operates as a cooperative structure whereby a portion of net profits are rebated in the form of a dividend, a reduction in client fees and/or charitable contribution. FAA also may offer a “put option” for certain members as independent advisor firms to sell their businesses to FAA platform in the future. (See below Attachment 1 FAA Integrated Fiduciary Program Overview.) Investment Advisory Services & Related Investment Support Services FAA assists independent investment advisors who provide portfolio management and employee benefit retirement services to their advisory clients. FAA may provide investment advisors with model investment portfolios they may use as starting points to manage investment accounts and which demonstrate the historical risk and return results of multiple asset class allocations to their investors.
On an ongoing basis, FAA will recommend to investment advisors suitable asset classes and investments for the investment advisor's consideration based on its market research and analysis. FAA's advisory services are reasonably designed to educate investment advisors on how to offer long-term investment solutions through appropriate asset allocations and management.
Formal reviews are provided on a quarterly basis including general performance, current asset allocation, policy variance, quantitative and qualitative assessment of each underlying investment strategy. Additionally,

FAA will consult with the Advisor and/or client when and if changes to the investment objective, asset allocation and/or line up are warranted. This may include for example- investment manager search activities should a change to an investment manager be needed. In conjunction with FAA’s investment research, analysis, and advisory support services, FAA provides research, implementation and/or operational support to investment advisors, which may include, but is not necessarily limited to: 1. Supporting understanding and documentation of “intention of assets”.
2. Supporting establishment, implementation, and maintenance of written Investment Policy Statement (IPS). Provide model Investment Policy Statement Questionnaires and templates with updates as necessary or appropriate.
3. Support establishing prospective capital market expectations over appropriate time horizon and also return, risk and correlation expectations, which specifically address a key fiduciary responsibility of diversifying the assets to the needs of the beneficiary.
4. Supporting establishment and implementation of strategic asset allocation based on sound principles and underlying support rationale(s).
5. Support ensuring adequate diversification within asset classes via style, capitalization, geographic region, etc.
6. Support development and implementation of rigorous investment research and well- defined manager search and selection process.
7. Support evaluation of implementation terms and process used for implementation, including related costs. Assist in ensuring appropriate investment vehicles are employed.
8. Support, advise, and assist in maintaining a client’s investment and risk control and monitoring process.
9. Assist in reviewing investment policies and guidelines annually or as fund requirements or market conditions warrant, and review and document investment returns, sources of return, causes for concern. Support rebalancing portfolio as warranted and in line with investment guidelines.
10. Provide investment advisors with simulated strategies to assist investment advisors in demonstrating to their clients’ historical risk and return results of multiple asset class allocations. Investment advisors will determine with its clients what allocation is appropriate for each client and what investment vehicles are most suitable.
11. Assist in periodic and annual review of all fees, vendor and manager relationships and related evaluations.
12. Provide investment advisors with marketing support in the form of presentation materials templates, quarterly client newsletters and other materials available in multiple formats.
Provide investment advisors with quarterly newsletter templates for distribution to their clients, which investment advisors may further customize and reproduce at their election.
13. Provide consultation to investment advisors, including portfolio analysis for both fixed income, equity and alternative investment portfolios. Provide investment advisors with online access to various portfolio management and performance reports to assist in management of investment advisor’s client accounts 14. Seek to identify outside service providers of key strategic services and make such providers known to investment advisors members.
HNW/Sophisticated Client and Investors – Wealth Management & Advisory Services In addition to its cooperative platform advisory support business, FAA also accepts direct advisory clients from time to time which may or may not qualify for the existing platform program. This will primarily involve HNW and other sophisticated investors with smaller account values, including a relationship with an unaffiliated custodian, and for which FAA will charge an advisory fee as described below under Item 5.
FAA provides wealth management capabilities to the HNW and sophisticated investor marketplaces. Keeping with the fundamental tenant of fiduciary standards, FAA evaluates each client’s risk reward profile while reviewing and evaluating best in class investment program considerations such as investment research, tax considerations and costs. Most notably FAA seeks to couple these considerations to establish an investment program which is solely in the best interest of the client. Similarly, FAA provides each client with a quarterly summary report (via the custodian platform) as well narratives updates reviewing the global investment landscape. FAA is also available for client counsel upon request AUM & Assets Managed/Advised Disclosure As of 12/31/2023, FAA and its FAA platform advises and manages/supervises approximately $111.9 million of total assets, of which approximately $111.9 million of assets are managed- supervised and advised on a discretionary basis (AUM or assets under management) and approximately $0 of assets are advised on a non-discretionary basis (AUA or assets under advisement).