Personal
CFO

Registered Investment Advisor

We believe the Registered Investment Advisor (RIA) model is the purest form of a financial advisory role that we could possibly find to best serve you. We now have the freedom to offer you a wider array of options and opportunities through the RIA model.

There are five main reasons that helped us make this decision to move to the RIA model:

• Safekeeping and compliance of your assets are our number one priority. By partnering with BNY Mellon | Pershing to serve as our bank custodian for all assets that our clients hold, we achieve this goal.
• As an RIA, we now have access to greater resources and we are not limited to the proprietary tools, research and resources of a single firm. We are a truly open architecture organization, providing unbiased advice and independent investments. BNY Mellon│Pershing not only allows investment advisors to use its custodial platform, but it also provides us with full access to a suite of resources through BNY Mellon’s Private Bank.
• We can achieve greater operating efficiency and effectiveness as an RIA by adding personnel to our team to enhance our service to you, our clients. We now have the flexibility and choice to access state-of-the-art technology that will help us improve your digital experience as it relates to portfolio reporting, risk management and financial planning tools. This technology will help simplify and organize our clients’ financial matters in a way that will strengthen our level of service.
• We now can advise our clients on all financial matters and provide a holistic approach to their financial lives. With full access to the resources that the financial services industry has to offer, we have strengthened our service delivery and we are able to perform at a high level for our clients.
• Palumbo Wealth Management now has legal fiduciary duty to you, our clients. We have far fewer conflicts of interest, we do not answer to shareholders and there are no products that we must sell. All our advice must be objective advice.

Our Philosophy

At Palumbo Wealth Management, our philosophy is simple: we work hard to first, PROTECT; second, GROW; and third, TRANSFER our clients’ assets based on their wishes. We believe in being direct and to the point, and in keeping it simple. We accomplish this by partnering with some of the finest institutions and professionals in the wealth management industry to deliver strength in all we do and deliver world-class investment services to you, our clients.

Our goal is to make a major positive impact on YOUR life and go ABOVE AND BEYOND for you and your family. We understand that you work extremely hard to build your wealth over multiple years and that not losing money is a crucial objective. You are at the point in your life where you cannot afford large losses because such losses make it extremely difficult and sometimes nearly impossible to go back and replace what you had gained. Your wealth is irreplaceable, and it is our responsibility to provide you with the most detailed, independent advice platform that will assist you in:

• Protecting your money, first and foremost
• Ensuring your assets maintain or grow in “buying power” by meeting or outpacing inflation over time
• Maintaining adequate liquidity
• Generating adequate income when needed most

Cost Structure

At Palumbo Wealth Management, we believe one of the ways to protect our clients’ wealth is to not only implement a strong investment strategy, but also to prudently manage costs. We seek to make all our decisions cost-effective.

There are numerous articles and research about how high fees can affect long-term performance results. We have found that many mutual funds and other investment products have built-in fee structures that are not transparent to the client and their performance does not compensate investors.

We are fee-based, which means our economic interests are aligned with yours. As your portfolio grows, we grow. If your portfolio declines, we decline with you. This truly puts us on the same side of the table as you.

Our approach is to minimize the use of third-party managers and focus on single stocks, bonds and lower-cost vehicles such as exchange-traded funds (ETFs) to build our clients’ portfolios. Through our research and from our two decades of experience, we have found this approach to be one of the most effective ways to optimize our clients’ performance over time.

Private Boutique Practice

Palumbo Wealth Management was designed from Day One to limit the number of families it serves. As a boutique practice, we realize we cannot be all things to all people. However, we can be all things to a select group of individuals and families and their associated capital pools (foundations and trusts) and work with them very closely and continuously. By maintaining intimate, high-touch relationships with our clients, we can help you navigate the next chapters in YOUR life, from retirement to legacy planning.

Communication

In our communications, we believe in being direct with our clients, even if we must sometimes tell them things they don’t want to hear. STRAIGHT TALK is a core value of our practice and it is the foundation for building strong, healthy relationships for years to come. Our communication process is as follows:

• 6/4/2
  • Bi-monthly calls to check in, provide quick updates and discuss a financial planning theme
  • Quarterly reviews
  • Two face-to-face meetings
• Palumbo Wealth Management’s Observations newsletter delivered weekly to your e-mail
• Direct phone calls, e-mails and conference calls during volatile market periods
• Quarterly market update conference calls
• Annual investment event
• Special educational events throughout the year
• Guest speaker events

This is what we promise you. However, our philosophy is to go ABOVE AND BEYOND. Our door is always open if you need to speak with us or meet in person.