Wealthgate Family Office LLC – Form CRS
Updated May 2, 2022
Item 1 – Introduction
Wealthgate Family Office LLC is an SEC-registered investment adviser that provides advisory services. Brokerage and investment advisory services and fees differ, and it is important for you to understand the differences. Free and simple tools are available to research firms and financial professionals at investor.gov/CRS, which also provides educational materials about broker-dealers, investment advisers, and investing.
Item 2 – Relationship and Services
What investment services and advice can you provide me?
We offer investment advisory services to retail investors. We provide the following services to retail investors: financial planning, investment advisory, business consulting, tax planning, education, philanthropic, legacy planning and risk management. As part of these services, we will review your account on an ongoing basis to ensure that your investments and investment strategies are consistent with your objectives. Our services are offered on a discretionary basis and non-discretionary basis. We may only exercise discretion if you have provided that authority to us in writing. We will exercise discretion in a manner consistent with the stated investment objectives for your account. Typically, under third party investment management arrangements, the third-party investment manager exercises discretion in the management of your account. All securities transactions are selected and executed by that manager. We do not directly manage assets in those accounts; but, have discretionary authority to hire and fire such third-party managers on your behalf. We manage investment portfolios that invest in a broad selection of products, including domestic and foreign equities, fixed income, mutual and exchange traded funds, and private funds which include hedge funds and funds of funds. We do not have proprietary products that we recommend, nor do we base our advice on a limited menu of products or types of investments. We provide advisory services primarily to high net worth individuals and their families, including their trusts, estates and retirement accounts. We also provide advisory services to corporations, business entities and family foundations. We have a minimum account size of $10,000,000. For additional information, see the Advisory Business section of our Form ADV Part 2A Brochure.
Item 3 – Fees, Costs, Conflicts, and Standard of Conduct
Key questions to ask:
- 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 fees will I pay?
We charge a fixed fee for our advisory services. We may group multiple accounts of a client (or group of related clients) together for fee billing purposes. Fees may change over time and different fee schedules may apply to different types of clients, strategies and advisory arrangements. Annual fixed fees for wealth management and financial planning are determined when the agreement is signed and based on a number of factors including complexity of the client’s accounts and desired services, size of the client's assets and overall net worth, number of legal entities, lifestyle and living expense needs, custodial and other service providers. This presents a conflict of interest in that, there is an incentive to increase the level of services provided to a client. Annual fixed fees are payable in advance of each calendar quarter. We retain the discretion to negotiate or waive certain fees on a client-by-client basis. Client facts, circumstances and needs are considered in determining a negotiated fee schedule. We will bill you directly for our services, or you may authorize your account’s custodian to have your fees deducted directly from your account. The advisory fee does not include fees related to brokerage commissions, transaction fees, and other related account costs and expenses charges imposed by custodians, brokers and other third parties such as fees charged by managers, custodial fees, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage accounts and securities transactions. A client’s portfolio may include positions in mutual funds or exchange traded funds which also charge internal management fees, which are disclosed in those funds’ prospectuses. Certain private funds and third-party asset managers may charge performance-based compensation, in addition to a management fee. 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. For additional information, please see the Fees and Compensation section of our Form ADV Part 2A.
Help me understand how these fees and costs might affect my investments. If I give you $10,000 to invest, how much will go to fees and costs? 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?
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. To the extent requested by the client, we may recommend the services of other professionals for certain non-investment implementation purposes including our affiliated trust company, Wealthgate Trust Company, LLC (“Wealthgate Trust”). You are under no obligation to engage the services of Wealthgate Trust. Although Wealthgate Trust is commonly owned by Alex Paul, no corresponding Wealthgate Trust-client relationship is established unless you separately engage Wealthgate Trust for corporate trustee services or estate administration services. The recommendation that you separately engage Wealthgate Trust’s service present a conflict of interest; however, you are under no obligation to use Wealthgate Trust. For more information about our conflicts, please see the Other Financial Industry Activities and Affiliations section of our Form ADV Part 2A.
How do your financial professionals make money?
Our financial professionals do not receive direct or indirect compensation related to our advisory services other than the advisory fees paid to us by our clients.
How might your conflicts of interest affect me and how will you address them?
Item 4 – Disciplinary History
Do you or your financial professionals have legal or disciplinary history?
No. A free and simple search tool to research us and our financial professionals is available at investor.gov/CRS. Additional information about our investment advisory services and an up-to-date copy of the relationship summary is available by contacting us at (303) 351-2380.
As a financial professional, do you have any disciplinary history? For what type of conduct?
Item 5 – Additional Information
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?
Below is a list of the updates that were made to this Form CRS since our last filing.
Item 5 – Additional Information – Contact information was added.