The Securities and Exchange Commission (SEC) requires all professional investment advisoers submit SEC Form ADV. This form specifies the investment style, Assets under management (AUM) and key officers of an advisory firm. This form must be updated annually and it must be made available as a matter of public record for companies that manage funds in excess of $25 million.1

There are several parts of SEC Form ADV. The first section includes identifying information, If past disciplinary action was taken against the adviser, this must be noted in the first section of SEC Form ADV. The second section deals with the AUM, investment strategy, fee arrangements, and service offerings of the firm.

Fortis SEC Registration: https://adviserinfo.sec.gov/firm/summary/314886

A fiduciary has a legal and ethical obligation to act in the best interest of another party, prioritizing their needs above all else. Fiduciary responsibilities generally include duties such as loyalty, care, and full disclosure. This means that fiduciaries must avoid conflicts of interest, act with due diligence, and ensure they provide complete and transparent information to their clients. For financial advisors, this responsibility translates into offering guidance and recommendations that align with their clients’ financial goals, without being influenced by personal gain or external incentives. Clients place significant trust in fiduciaries, making these responsibilities a critical safeguard for ensuring ethical and professional conduct.

Understanding the fiduciary duty can become complex when dealing with large firms due to the sheer scale and structure of such organizations. Many large firms operate using a hybrid model, wherein certain advisors may act as fiduciaries while others follow the suitability standard. This duality can lead to confusion for clients who may struggle to determine which standard their advisor is adhering to. Additionally, large firms often offer a wide range of proprietary products, which may create potential conflicts of interest despite fiduciary obligations. The intricate layers of management and varied compensation structures within large organizations further complicate transparency, making it harder for clients to fully grasp how decisions are made and whether these align with their best interests.

One of the simplest ways to determine if a financial advisor is a fiduciary is by reviewing their licenses and the firm’s registration, typically found in the firm’s ADV. True fiduciary advisors hold a Series 65 license and operate without conflicts of interest. In contrast, advisors with licenses such as Series 6, Series 7, or an Insurance Agent designation are not considered fiduciaries.

The confusion often arises when advisors hold multiple licenses. Depending on the type of investment strategies they offer, they may or may not act in your best interest. For instance, financial “packaged products” like mutual funds, wrap accounts, and annuities are sometimes sold by representatives who are also fiduciaries. However, when these types of investment products are involved, the advisor is typically not acting in a fiduciary capacity.

Understanding these distinctions is crucial for ensuring your financial advisor is truly aligned with your best interests.

Fortis Portfolio Solutions, LLC is a registered investment advisor with the SEC and does not offer “packaged financial products” as described above. We are an asset manager and manage money for high net worth individuals and institutions. Our strategies may be available to you through your existing financial advisor.

The Global Investment Performance Standards (GIPS) are a set of voluntary ethical principles that provide a standardized framework for investment firms to calculate and present their performance results. Established by the CFA Institute, GIPS aim to promote transparency, consistency, and fair representation in performance reporting across the investment management industry. These standards ensure that investors can compare performance data provided by different firms on an equal footing, fostering greater confidence and trust. By adhering to GIPS, firms demonstrate their dedication to ethical practices and their commitment to providing accurate and reliable information to clients.

GIPS are important because they establish a universal standard for calculating and presenting investment performance, which reduces discrepancies and ensures consistency across firms. This fosters an environment where investors can make clear, informed comparisons between investment managers without ambiguity. Furthermore, adherence to GIPS showcases a firm’s commitment to ethical behavior, transparency, and accountability. This not only enhances the firm’s reputation but also builds trust with clients, who can feel more confident in the accuracy and reliability of the performance data they receive. Ultimately, GIPS play a crucial role in maintaining integrity and professionalism in the investment management industry.

Investment strategies offerred by Fortis are GIPS verified and be found through the CFA Insitutute.

https://compliancetracking.cfainstitute.org/gips-firm-list

* It is important to note many firms claim GIPS compliance but have not gone through the Verification Process. We are GIPS verified. 

All fees and any charges will be listed in your Investment Management Contract. Our fees are structured based on the services provided, typically including a percentage of assets under management, flat fees, and financial planning fees ensuring alignment with your financial success.

There are no transaction fees our fees.

Fortis Private Wealth is the private client division of Fortis Portfolio Solutions LLC.  We provide a diverse range of investment strategies tailored to meet the unique needs and goals of our clients. Our offerings include active investment strategies designed to capitalize on market opportunities, passive strategies aimed at tracking specific indices with low costs, and hybrid approaches that combine elements of both. Whether you seek growth, income, or capital preservation, our solutions are carefully crafted to align with your financial objectives. With a client-focused approach, we ensure that each strategy is implemented with precision, transparency, and a commitment to achieving long-term success.

Fortis Private Wealth is an exclusive division tailored for our high-net-worth clients, available by invitation only. We provide access to Fortis Portfolio Solutions propietary investment strategy, along with a range of additional strategies. Our expertise lies in crafting portfolios designed to maximize cash flow and enhance tax efficiency, all while maintaining a risk-conscious approach to navigate market volatility effectively.  

We employ rigorous risk management processes and adhere to industry standards to safeguard your investments and provide peace of mind.