Item 1: Introduction
WAYPOINT CAPITAL ADVISORS, LLC is an investment adviser registered with the Securities and Exchange Commission offering advisory accounts and services. This document gives you a summary of the types of services and fees we offer. Please visit www.investor.gov/CRS for free, simple tools to research firms and for educational materials about broker-dealers, investment advisers, and investing.
Item 2: Relationships and Services
Questions to ask us: Given my financial situation, should I choose an investment advisory service? Why or why not? How will you choose investments to recommend to me? What is your relevant experience, including your licenses, education and other qualifications? What do these qualifications mean?
What investment services and advice can you provide me? Our firm primarily offers the following investment advisory services to retail clients: portfolio management (we review your portfolio, investment strategy, and investments) and financial planning (we assess your financial situation and provide advice to meet your goals). As part of our standard services, we typically monitor client accounts on a weekly basis. Our firm has discretionary management without any material limitations. We also offer non-discretionary services where the client makes the ultimate decision on purchases and sales. We limit the types of investments that are recommended since not every type of investment vehicle is needed to create an appropriate portfolio. Our goal is always to provide our clients the same recommendations that in the same situation we would provide to ourselves. Our minimum account size is $2,000,000. Please also see our Form ADV Part 2A (“Brochure”), specifically Items 4 & 7.
Item 3: Fees, Costs, Conflicts, and Standard of Conduct
Questions to ask us: Help me understand how these fees and costs might affect my investments. If I give you $1,000,000 to invest, how much will go to fees and costs, and how much will be invested for me? What are your legal obligations to me when acting as my investment adviser? How else does your firm make money and what conflicts of interest do you have? How might your conflicts of interest affect me, and how will you address them?
What fees will I pay? Our fees vary depending on the complexity of your family’s situation. Additionally, the amount of assets in your account affects our advisory fee; the more assets you have in your advisory account, the more you will pay us and thus we have an incentive to increase those assets in order to increase our fee. For hourly fee arrangements, each additional hour (or portion thereof) we spend working for you would increase the advisory fee. Our fixed fee arrangements are based on the amount of work we expect to perform for you, so material changes in that amount of work will affect the advisory fee we quote you. Transparency of fees are critical to our client relationships, so we illustrate them on each client’s quarterly statement. All fees are charged quarterly in advance. You pay our fees even if you do not have any transactions and the advisory fee paid to us generally does not vary based on the type of investments selected. Most importantly, we are only paid by our clients and receive no financial revenue from any other sources. Please also see Items 4, 5, 6, 7 & 8 of our Brochure.
Third Party Costs: Some investments (e.g. mutual funds) impose additional fees (e.g., transactional fees and product-level fees) that reduce the value of your investment over time. We will outline those fees for you for transparency purposes. Additionally, you will typically pay transaction fees when we buy and sell an investment for your account. 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. Please also see our Brochure for additional details.
Conflicts of Interest: When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours. In a relationship where we charge an asset-based fee we get paid more if we manage more of your money. In a flat fee arrangement, the potential of any conflict is decreased since the fee is fixed. You should understand and ask us about these conflicts because they can affect the investment advice we provide you.
How do your financial professionals make money? Our company is paid directly by our clients and receives no other fees from products or services our clients access through us. Our financial professionals are all on salary. Please also see Item 10 of our Brochure for additional details.
Item 4: Disciplinary History
Questions to ask us: As a financial professional, do you have any disciplinary history? For what type of conduct?
Do you or your financial professionals have legal or disciplinary history? We do not have any legal or disciplinary events. Visit https://www.investor.gov/ for a free, simple search tool to research us and our financial professionals.
Item 5: Additional Information
Questions to ask us: Who is my primary contact person? Is he or she a representative of an investment adviser or a broker-dealer? Who can I talk to if I have concerns about how this person is treating me?
For additional information on our advisory services, see our Brochure available at https://adviserinfo.sec.gov/firm/summary/134648 and any individual brochure supplement your representative provides. If you have any questions, need additional up-to-date, or want another copy of this Client Relationship Summary, then please contact us at (612) 438-2470.
Exhibit A – Material Changes to Client Relationship Summary
There are no material changes since the prior Client Relationship Summary.