Form CRS – Client Relationship Summary
Our firm, Variant Private Wealth, LLC is an investment adviser registered with the Securities and Exchange Commission. We feel that it is important for you to understand how advisory and brokerage services and fees differ in order to determine which type of account is right for you. There are free and simple tools available to research firms and financial professionals at www.investor.gov/CRS, which also provides educational materials about investment advisers, broker-dealers, and investing.
We are a registered investment adviser that offers investment advisory services to clients. Our advisory services include Wrap Asset Management and Financial Planning & Consulting. If you open an advisory account with our firm, we’ll meet with you to understand your current financial situation, existing resources, goals, and risk tolerance. Based on what we learn, we’ll recommend a portfolio of investments that is monitored at least quarterly, and if necessary, rebalanced to meet your changing needs, stated goals and objectives. We’ll offer you advice on a regular basis and contact you at least annually to discuss your portfolio.
You can select in our agreement whether we are allowed to buy and sell investments in your account without asking you in advance (“discretion”) or buy and sell investments in your account only after receiving your permission (“non-discretion”). If you select non-discretion, you make the ultimate decision regarding the purchase or sale of investments. Any limitations will be described in the signed advisory agreement. We will have discretion or non-discretion until the advisory agreement is terminated by you or our firm.
We do not restrict our advice to limited types of products or investments.
Our firm requires a minimum account balance of $250,000 to open and maintain an account for our Wrap Asset Management service.
Financial Planning & Consulting is also offered as a separate service for a flat or hourly fee. We do not monitor your investments for the Financial Planning & Consulting service.
Additional information about our advisory services is located in Item 4 of our Firm Brochure and Item 5 of our Wrap Brochure, which are availabel online at: https://adviserinfo.sec.gov/firm/summary/288011
You will be charged an ongoing monthly fee based on the value of the investments in your account. Our maximum Wrap Asset Management annual fee is 1.5%. The more assets you have in your advisory account, the more you will pay us. We therefore have an incentive to increase the assets in your advisory account in order to increase our fees. Our fees vary and are negotiable. The amount you pay will depend, for example, on the services you receive and the amount of assets in your account. Our firm’s fees will be automatically deducted from your advisory account, which will reduce the value of your advisory account.
Our maximum flat fee is $5,000 and our maximum hourly rate is $250 for our Financial Planning & Consulting service. We may charge an upfront retainer when you sign an agreement and charge you when we provide a financial plan or consultation.
We pay the Custodian’s transaction fees charged to you for our Wrap Asset Management service. The fees for wrap fee programs are therefore higher than a typical asset-based advisory fee.
You may also pay charges imposed by the Custodian holding your accounts for certain investments and maintaining your account. Some investments, such as mutual funds, index funds, exchange traded funds, and variable annuities, charge additional fees that will reduce the value of your investments over time.
You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying.
Additional information about our fees is in Item 5 of our Firm Brochure and Item 4 of our Wrap Brochure, which are available online at: https://adviserinfo.sec.gov/firm/summary/288011
When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the investment advice, we provide you. Here are some examples to help you understand what this means:
Our firm’s financial professionals include licensed insurance agents. Furthermore, Mr. David Morgante is the owner of Variant Insurance, LLC who sell insurance products for a commission. They have an incentive to recommend insurance products to you in order to increase their compensation.
For our wrap service, we pay the Custodian’s transaction fees charged to you except for U.S. listed equities and exchange traded funds, which do not have transaction fees for clients who have at least $1 million in assets at Fidelity or when opting into electronic delivery of statements. As a result, we have an incentive to recommend these asset types without transaction fees in order to reduce the amount of the Custodian’s transaction fees that we will have to pay on your behalf, however, Variant Private Wealth, LLC will follow its fiduciary duty and act in the client’s best interest.
Additional information about our conflicts of interest is in Item 10 of our Firm Brochure and Item 9 of our Wrap Brochure, which are available online at: https://adviserinfo.sec.gov/firm/summary/288011
Our financial professionals are compensated based on the revenue our firm earns from their advisory services or recommendations, the amount of client assets they service, and the time and complexity required to meet a client’s needs. In addition, they are compensated based on the type of product sold and/or product sales commissions.
No, our firm and financial professionals do not have any legal and disciplinary history to disclose. Visit Investor.gov/CRS for a free and simple search tool to research our firm and our financial professionals.
You can find additional information about our firm’s investment advisory services on the SEC’s website at www.adviserinfo.sec.gov by searching CRD #288011. You may also contact our firm at (703) 760-7600 to request a copy of this relationship summary and other up-to-date information.
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