General Information
CORE Wealth Advisors, Inc. (“CORE Wealth Advisors”) was formed in 2013, (registered as an
investment adviser in 2015), and provides financial planning, wealth management, and tax
planning services to our clients.
Charles Foss is the principal owner of CORE Wealth Advisors. Please see Brochure Supplements,
Exhibit A, for more information on this principal owner and other individuals who formulate
investment advice and have direct contact with clients, or have discretionary authority over client
accounts.
As of December 31, 2022, CORE Wealth Advisors managed $411,806,049 on a discretionary basis,
and $142,809 of assets on a non-discretionary basis.
SERVICES PROVIDED
At the outset of each client relationship, we spend time with you, asking questions, discussing your
investment experience and financial circumstances, and broadly identifying your major goals.
You may elect to retain CORE Wealth Advisors to prepare a full financial plan as described below.
This written report is presented to you for consideration. In most cases, clients subsequently retain
us to manage their investment portfolio on an ongoing basis.
For those financial planning clients making this election, and for other clients who do not need
financial planning but retain us for wealth management services, based on all the information
initially gathered, CORE Wealth Advisors generally develops:
• a financial outline for you based on your financial circumstances and goals, and your risk
tolerance level (the “Financial Profile” or “Profile”); and
• your investment objectives and guidelines (the “Investment Plan” or “Plan”).
The Financial Profile is a reflection of your current financial picture and a look to your future goals.
The Investment Plan outlines the types of investments CORE Wealth Advisors will make on your
behalf to meet those goals. The Profile and the Plan are discussed regularly with you, but are not
necessarily written documents.
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 of 1974 (“ERISA”) 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 interests ahead of yours. Additional disclosure may be found elsewhere in this Brochure or in
the written agreement between you and CORE Wealth Advisors.
Financial Planning
One of the services we offer is financial planning, described below. This service may be provided as
a stand-alone service, or may be coupled with ongoing portfolio management.
Financial planning generally includes advice that addresses one or more areas of your financial
situation, such as estate planning, risk management, budgeting and cash flow controls, retirement
planning, education funding, and investment portfolio design. Depending on your particular
situation, financial planning may include some or all of the following:
• Gathering factual information concerning your personal and financial situation;
• Assisting you in establishing financial goals and objectives;
• Analyzing your present situation and anticipated future activities in light of your financial
goals and objectives;
• Identifying problems foreseen in the accomplishment of these financial goals and objectives
and offering alternative solutions to the problems;
• Making recommendations to help achieve retirement plan goals and objectives;
• Designing an investment portfolio to help meet your goals and objectives;
• Providing estate planning;
• Assessing risk and reviewing basic health, life and disability insurance needs; or
• Reviewing goals and objectives and measuring progress toward these goals.
Once financial planning advice is given, you may choose to have us implement your financial plan
and manage your investment portfolio on an ongoing basis. However, you are under no obligation
to act upon any of the recommendations made by us under a financial planning engagement and/or
to engage the services of any recommended professional.
Wealth Management
As described above, at the beginning of a client relationship, we meet with you, gather information,
and perform research and analysis as necessary to develop your Investment Plan. The Investment
Plan will be updated from time to time when requested by you, or when determined to be
necessary or advisable by us based on changes to your financial or other circumstances.
To implement your Investment Plan, we will manage your investment portfolio on a discretionary
basis. As a discretionary investment adviser, we will have the authority to supervise and direct
your portfolio without prior consultation with you.
Notwithstanding the foregoing, you may impose certain written restrictions on us in the
management of your investment portfolio, such as prohibiting the inclusion of certain types of
investments in an investment portfolio or prohibiting the sale of certain investments held in the
account at the commencement of the relationship. You should note, however, that restrictions
imposed by you may adversely affect the composition and performance of your investment
portfolio. You should also note that your investment portfolio is treated individually by giving
consideration to each purchase or sale for your account. For these and other reasons, performance
of your investment portfolio within the same investment objectives, goals and/or risk tolerance
may differ and you should not expect that the composition or performance of your investment
portfolio would necessarily be consistent with similar clients of ours.
Separate Account Managers
When appropriate and in accordance with the Investment Plan for you, we may recommend the use
of one or more Separate Account Managers, each a “Manager”. Having access to various Managers
offers a wide variety of manager styles, and offers clients the opportunity to utilize more than one
Manager if necessary to meet the needs and investment objectives of the client. We will select or
recommend the Manager(s) we deem most appropriate for you. Factors that we consider in
recommending/selecting Managers generally include your stated investment objective(s),
management style, performance, risk level, reputation, financial strength, reporting, pricing, and
research.
The Manager(s) will generally be granted discretionary trading authority to provide investment
supervisory services for your portfolio. Under certain circumstances, CORE Wealth Advisors
retains the authority to terminate the Manager’s relationship or to add new Managers. In other
cases, you will ultimately select one or more Managers recommended by us. Fees paid to such
Manager(s) are separate from and in addition to the fee assessed by us.
In any case, with respect to assets managed by a Manager, our role will be to monitor your overall
financial situation to monitor the investment approach and performance of the Manager(s), and to
assist you in understanding the investments of your portfolio.
Tax Planning and Preparation
In addition to the foregoing services, we may provide tax planning and annual tax preparation
services to you. The fees for tax-related services will be individually negotiated with you at the
time of engagement for the applicable project.