Platt Wealth Management is dedicated to providing individuals with a wide array of
investment advisory and financial planning services on a fee-only basis. Jeffrey S. Platt
started the firm in 2018 and is the sole owner of PWM.
This narrative brochure contains information regarding PWM and the qualifications,
business practices, and nature of advisory services that the firm provides. This
information should be carefully considered before becoming an advisory client of PWM.
Prior to engaging PWM to provide services, clients are generally required to enter into
an agreement with PWM setting the terms and conditions of the engagement (including
termination), describing the scope of the services to be provided, and specifying the
portion of the fee, if any, that is due from the client prior to PWM beginning services.
Types of Advisory Services
Investment Management
PWM primarily allocates investment management assets of its client accounts among
various asset classes using mutual funds (and to a much lesser extent, among various
individual debt and equity securities) on a discretionary basis, in accordance with the
investment objectives of the client as set forth in an Investment Policy Statement
prepared by PWM for review and acceptance by the client.
After consultation with PWM, clients may impose restrictions on investing in certain
securities or types of securities. Other restrictions may be imposed by clients with
respect to the maturity or credit quality of fixed income investments. In either case, all
restrictions must be in writing.
Subject to any written guidelines, which the client may provide, PWM will be granted
discretion and authority to manage the client’s investment account(s). Accordingly,
PWM is authorized to perform various functions, at the client’s expense, without further
approval from the client. Such functions include making all investment decisions on
the (a) securities purchased/sold and (b) the amount of securities to be purchased/sold.
Once the portfolio is constructed, PWM provides ongoing supervision and rebalancing
of the portfolio as changes in market conditions and client circumstances may require.
Financial Planning
PWM provides a range of financial planning services, which may include a
comprehensive evaluation of a client’s goals and objectives, current financial and tax
status, and projections of future financial state under various scenarios. PWM gathers
information through the use of meetings, questionnaires, and the review of account
statements and other documents provided by the client. Clients purchasing this service
receive a written report designed to assist the client in achieving his or her financial goals
and objectives.
Platt Wealth Management, LLC 5
From time to time PWM is asked to provide specific consulting services to clients. This
may include advice on only an isolated area of concern such as estate planning,
retirement planning, Social Security, real estate matters, reviewing a client's existing
portfolio, or any other specific topic. Additionally, PWM provides advice on non-
securities matters such as insurance or annuity evaluations.
In general, the financial plan can address any or all of the following areas:
• PERSONAL: Review of family records, budgeting, personal liability, estate
information, and financial goals.
• TAX & CASH FLOW: Analyze the client’s income tax and spending and planning
for past, current and future years and illustrate the impact of various investments
on the client's current income tax and future tax liability.
• INVESTMENTS: Analyze portfolio allocation and the specific investments in the
portfolio and their effect on the client's portfolio.
• RETIREMENT: Analyze current strategies and investment plans to help the client
achieve his or her retirement goals.
• RISK MANAGEMENT: Discuss existing policies for appropriate coverage, which
may include life, health, disability, liability, property and casualty, and long-term
care coverage.
• DEATH & DISABILITY: Review the client’s cash needs at death, income needs of
surviving dependents, estate planning, and disability income.
• ESTATE: Assist the client in assessing and developing long-term strategies,
including as appropriate, living trusts, wills, powers of attorney, and potential
estate taxes.
Retirement Rollovers-No Obligation/Conflict of Interest
A client leaving an employer typically has four options (and may engage in a combination
of these options): 1) leave the money in his former employer’s plan, if permitted, 2) roll
over the assets to his/her new employer’s plan, if one is available and rollovers are
permitted, 3) rollover to an Individual Retirement
Account (IRA), or 4) cash out the account
value (which could, depending upon the client’s age, result in adverse tax consequences).
PWM may recommend an investor roll over plan assets to an IRA managed by PWM. As
a result, PWM may earn an asset-based fee; however, a recommendation that a client or
prospective client leave their plan assets with their old employer will result in no
compensation. PWM has an economic incentive to encourage an investor to roll plan
assets into an IRA that PWM will manage.
When we provide investment advice to you regarding your retirement plan account or
individual retirement account, we are fiduciaries within the meaning of Title I of the
Employee Retirement Income Security Act and/or the Internal Revenue Code, as
Platt Wealth Management, LLC 6
applicable, which are laws governing retirement accounts. The way we make money
creates some conflicts with your interests, so we operate under a special rule that
requires us to act in your best interest and not put our interests ahead of yours.
Under this special rule’s provisions, we must:
• Meet a professional standard of care when making investment recommendations
(give prudent advice);
• Never put our financial interests ahead of yours when making recommendations
(give loyal advice);
• Avoid misleading statements about conflicts of interest, fees, and investments;
• Follow policies and procedures designed to ensure that we give advice that is in
your best interest;
• Charge no more than is reasonable for our services; and
• Give you basic information about conflicts of interest.
There are various factors that PWM may consider before recommending a rollover,
including but not limited to: i) the investment options available in the plan versus the
investment options available in an IRA, ii) fees and expenses in the plan versus the fees
and expenses in an IRA, iii) the services and responsiveness of the plan’s investment
professionals versus those of PWM, iv) required minimum distributions and age
considerations, and vi) employer stock tax consequences, if any. No client is under any
obligation to roll over plan assets to an IRA managed by PWM.
Client Obligations
In performing its services, PWM is not required to verify any information received from
the client or from the client’s other professionals. Moreover, each client is advised that
it remains his or her responsibility to promptly notify PWM if there is ever any change in
the client’s financial situation or investment objectives during the client engagement.
Our Policy on Class Action Lawsuits
From time to time, securities held in the accounts of clients will be the subject of class
action lawsuits. PWM has no obligation to determine if securities held by the client are
subject to a pending or resolved class action lawsuit. It also has no duty to evaluate a
client’s eligibility or to submit a claim to participate in the proceeds of a securities class
action settlement or verdict. Furthermore, PWM has no obligation or responsibility to
initiate litigation to recover damages on behalf of clients who may have been injured as a
result of actions, misconduct, or negligence by corporate management of issuers whose
securities are held by clients.
Platt Wealth Management, LLC 7
Where PWM receives written or electronic notice of a class action lawsuit, settlement,
or verdict affecting securities owned by a client, it will forward all notices, proof of claim
forms, and other materials, to the client. Electronic mail is acceptable where appropriate
if the client has authorized contact in this manner.
Disclosure Statement
A copy of PWM’s written brochure as set forth on Part 2A of Form ADV shall be
provided to each client prior to, or at the same time as, the execution of the Advisory
Agreement. Any client who has not received a copy of PWM’s written brochure at
least 48 hours prior to executing the Advisory Agreement shall have five business days
subsequent to executing the agreement to terminate PWM’s services without penalty.
Non-Participation in Wrap Fee Programs
PWM, as a matter of policy and practice, does not sponsor any wrap fee program. A
wrap fee program is defined as any advisory program under which a specified fee or fees
not based directly upon transactions in a client’s account is charged for investment
supervisory services (which may include portfolio management or advice concerning the
selection of other investment advisers) and the execution of client transactions.
Amount of Assets Under Management
As of December 31, 2023, PWM manages approximately $294,734,203 in client assets
on a discretionary basis.
Platt Wealth Management, LLC 8