Delos Wealth Advisors, LLC
March 30, 2023
FORM CRS - Form ADV Part 3
Delos Wealth Advisors is registered with the Securities and Exchange Commission as an investment adviser and, as such, we provide advisory services rather than brokerage services. Brokerage and investment advisory services and fees differ and it is important for you, our client, to understand the differences. Additionally, 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. This document is a summary of the services and fees we offer to "retail" investors, which are natural persons who seek or receive services primarily for personal, family, or household purposes.
What investment services and advice can you provide me?
We offer the following investment advisory services to retail investors: Financial Planning Services; Portfolio Management Services; Pension Consulting Services, Selection of Other Advisers; Subscription Services; Detailed information regarding our services, fees and other disclosures can be found in our Form ADV Part 2A Items 4, 5, 7, 8, 13 and 16 by clicking the following link https://adviserinfo.sec.gov/firm/brochure/300734.
Account Monitoring: If you open an investment account with our firm, as part of our standard service we will monitor your investments on a daily basis.
Investment Authority: We manage investment accounts on a discretionary basis whereby we will decide which investments to buy or sell for your account. We have discretion to select, retain or replace third-party managers to manage your accounts. You may limit our discretionary authority (for example, limiting the types of securities that can be purchased or sold for your account) by providing our firm with your restrictions and guidelines in writing. We also offer non-discretionary investment management services whereby we will provide advice, but you will ultimately decide which investments to buy and sell for your account. You have an unrestricted right to decline to implement any advice provided by our firm on a non-discretionary basis.
Investment Offerings:
We offer advice on the following types of investments or products: equity securities, warrants, municipal securities, mutual fund shares, United States government securities, options contracts on securities, money market funds, real estate, REITs, derivatives, structured notes, ETFs, private placements, interests in partnerships investing in real estate and interests in partnerships investing in oil and gas interests.
Account Minimums and Requirements: In general, we do not require a minimum dollar amount to open and maintain an advisory account; however, we have the right to terminate your account if it falls below a minimum size which, in our sole opinion, is too small to manage effectively. However, we charge a minimum annual fee in the amount of $10,000, billed monthly, to open and maintain an advisory account. At our discretion we may waive the minimum fee.
Key Questions to Ask Your Financial Professional
• 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?
The following summarizes the principal fees and costs associated with engaging our firm for investment advisory services. For detailed information, refer to our Form ADV Part 2A, Items 5 and 6 by clicking this link https://adviserinfo.sec.gov/firm/brochure/300734.
• Asset-Based Fees - Payable monthly in advance. Since the fees we receive are asset-based (i.e. based on the value of your account), we have an incentive to increase your account value which creates a conflict especially for those accounts holding illiquid or hard-to-value assets;
• Financial Planning Fees - Hourly fees, generally billed at $350/hour, unless waived at our discretion•
• Fixed Fees - Minimum fee, payable in advance;
• Other Advisory Fees - Advisory fees charged by third-party money managers, which are separate and apart from our fees.
• Clients may also pay additional fees and/or expenses. Common fees and costs applicable to our clients are: Custodian fees; Account maintenance fees; mutual fund and ETF fees; Transaction charges when purchasing or selling securities; and other product-level fees associated with your investments.
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.
Key Questions to Ask Your Financial Professional
• 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, 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?
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.
• Third-Party Payments: Persons providing investment advice on behalf of our firm are licensed as independent insurance agents. These persons will earn commission-based compensation for selling insurance products. Insurance commissions are separate and in addition to our advisory fees. This practice presents a conflict of interest because they have an incentive to recommend insurance products to you for the purpose of generating commissions rather than solely based on your needs.
• Because our revenue is derived from asset-based fees, we have an incentive to grow your account as much as possible. This could cause us to take overly aggressive positions in conflict with your interests in an attempt to grow your account or could incentivize us to inflate the valuations of illiquid investments held in your account.
How do your financial professionals make money?
Our Company and the financial professional servicing your account(s) are compensated by receiving a percentage of company revenue. Financial professionals' compensation is based on the revenue the firm earns from the person's services or recommendations.
Refer to our Form ADV Part 2A Items 4, 5, 11, 12, 14 and 18 by clicking this link https://adviserinfo.sec.gov/firm/brochure/300734, to help you understand what conflicts exist.
Key Questions to Ask Your Financial Professional
• How might your conflicts of interest affect me, and how will you address them?
Do you or your financial professionals have legal or disciplinary history?
No, our firm and our financial professionals currently do not have any legal or disciplinary history to disclose.
Visit Investor.gov/CRS for a free and simple research tool.
Key Questions to Ask Your Financial Professional
• As a financial professional, do you have any disciplinary history? For what type of conduct?
Key Questions to Ask Your Financial Professional
• 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?
You can find additional information about your investment advisory services and request a copy of the relationship summary at 972-810-6695 or click the link provided