Greenwood Capital Associates, LLC (“Greenwood Capital”) is an investment advisory firm registered with the Securities and Exchange Commission (SEC). Investment advisory services differ from brokerage services. Fees differ as well, and it is important for retail investors to understand the differences. Free and simple tools are available to research firms and financial professionals at www.investor.gov/CRS, which also provides educational materials about broker-dealers, investment advisers, and investing.
We offer investment advisory services to retail investors based upon individual needs. For our direct clients, we determine your individual investment needs by interviewing you and requesting information from you. We then customize an asset allocation and investment portfolio for you. For clients that utilize our portfolio management through the recommendation of an independent registered investment advisor/broker-dealer (commonly referred to as a dual contract), we rely on your financial advisor to determine your individual investment needs.
In order to provide ongoing advice and supervision, direct and indirect clients provide us written discretionary authority to manage their account with respect to securities and amount of securities to be bought or sold. Details of this relationship are outlined in the Investment Advisory Agreement before any advisory relationship begins. We review client investment portfolios at least annually for changes in investment needs. Accounts of direct clients are also reviewed at least quarterly for adherence to individual client asset allocation strategy, and upon triggering events such as account contributions, distributions, or a change in circumstances.
We generally limit our recommended investments to equities, fixed income, and exchange traded funds. We could also use other types of securities to diversify a portfolio. You can request restrictions in investing in certain securities if the restrictions do not prevent us from properly servicing your account. We may waive our $250,000 account minimum based on individual client needs and account complexity.
We also provide Financial Planning and/or Retirement Advice to direct clients on an as needed basis. Financial plans are reviewed upon plan creation/delivery by the financial professional. Unless a retirement account is managed by us, client retirement advice is provided by request and does not have an ongoing review.
Our advisory services are provided on a fee-only basis; we do not receive any commission or revenue sharing from the securities we recommend. Our fee is calculated as a percentage of the quarterly 3-month average account market value, including cash, and is typically paid quarterly in arrears. The more assets in your advisory account, the more you will pay in fees, and therefore, we have an incentive to encourage you to increase the assets in your account.
|Standard Fee Schedule|
|Total Assets Under Management||Annual Advisory Fee|
|Balance above $3,000,000||.60%|
Indirect client fees are calculated in the same manner and paid in accordance with the agreement with the primary financial advisor, unless stated otherwise in your contract.
You may also incur separate fee(s) for custody as outlined in your custodial agreement. A commission, which is included in the price of a transacted security, is also paid to the executing broker. Depending on the securities in your portfolio, you may also have product level fees paid to the product provider
We reserve the right to charge a fee for Financial Planning services, which would be agreed to by you before the plan was initiated.
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.
As a fiduciary, 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 that means.
Our financial professionals are paid both a fixed salary and a variable commission. Financial professionals are eligible to receive a percentage of the advisory fee paid by you as a result of his/her efforts in developing and maintaining client relationships. They may also receive a bonus that is based all, or in part, on the number/size of new accounts and referrals. This creates a conflict to recommend advisory services for compensation; however, you are not obligated to purchase services recommended.
Financial professionals are also eligible to receive cash referral bonuses as part of the relationship with our parent company, TCB Corporation, for referrals made to any of our related entities: Countybank (including Trust and Mortgage Services) and Countybanc Insurance Services, Inc. This creates a conflict to make referrals for compensation; however, you are under no obligation to act upon any recommendation. Some of our financial professionals are also licensed insurance agents. If certain insurance products are purchased through a financial professional’s affiliation with Countybanc Insurance, a portion of the revenue received by Countybanc is paid to us, which, we may, in turn, share with the financial professional that made the recommendation. This creates a conflict to recommend certain insurance products. If you receive an insurance quote, you are under no obligation to act upon this recommendation.
Neither Greenwood Capital, nor its financial professionals have any disciplinary history. You may visit www.Investor.gov/CRS for a free and simple search tool to research Greenwood Capital and our Financial Professionals.
Visit www.GreenwoodCapital.com where you may view the Client Relationship Summary, our Annual Firm Disclosure Document (Form ADV 2A), individual disclosure documents for our financial professionals (Form 2B), and Privacy Notice. You may also contact us directly to request electronic or paper versions of these documents be sent to you.
As a fiduciary we are dedicated to providing advice in your best interest. We are happy to assist with any additional questions you may have and look forward to the opportunity to work with you on your financial and investment needs.