Wrap Fee Program Brochure Form ADV 2A ‐ Appendix 1 Item 1 ‐ Cover Page HBK Wealth Management CRD# 168419 Main Office 9075 Centre Pointe Drive, Suite 100 West Chester, Ohio 45069 Branch Office 9360 Montgomery Road Cincinnati, Ohio 45242 (513) 942‐9700 www.HBKWealthManagement.com March 4, 2015 This wrap fee program brochure provides information about the qualifications and business practices of HBK Wealth Management. If you have any questions about the contents of this brochure, please contact us at (513)‐942‐9700 or [email protected]. The information in this brochure has not been approved or verified by the United States Securities and Exchange Commission or by any state authority. HBK Wealth Management is an investment advisory firm registered with the appropriate regulatory authority. Registration does not imply a certain level of skill or training. Additional information about HBK Wealth Management is also available on the SEC’s website at www.AdviserInfo.sec.gov. Item 2 ‐ Material Changes This Brochure is prepared in the revised format required beginning in 2011. Registered Investment Advisers are required to use this format to inform clients of the nature of advisory services provided, types of clients served, fees charged, potential conflicts of interest and other information. The Brochure requirements include providing a Summary of Material Changes (the “Summary”) reflecting any material changes to our policies, practices, or conflicts of interest made since our last required “annual update” filing. In the event of any material changes, such Summary is provided to all clients within 120 days of our fiscal year‐end. Our annual update was filed on February 11, 2015. Of course the complete Brochure is available to clients at any time upon request.
March4,2015This wrap fee program brochure provides information about the qualifications and businesspractices of HBK Wealth Management. If you have any questions about the contents of thisbrochure,please contactusat (513)‐942‐9700or [email protected]. The information in thisbrochure has not been approved or verified by the United States Securities and ExchangeCommissionorbyanystateauthority.
HBK Wealth Management is an investment advisory firm registered with the appropriateregulatory authority. Registration does not imply a certain level of skill or training. Additionalinformation about HBK Wealth Management is also available on the SEC’s website atwww.AdviserInfo.sec.gov.
Item2‐MaterialChangesThis Brochure is prepared in the revised format required beginning in 2011. RegisteredInvestment Advisers are required to use this format to inform clients of the nature of advisoryservices provided, types of clients served, fees charged, potential conflicts of interest and otherinformation. TheBrochure requirements includeprovidinga SummaryofMaterial Changes (the“Summary”)reflectinganymaterialchangestoourpolicies,practices,orconflictsofinterestmadesinceourlastrequired“annualupdate”filing.Intheeventofanymaterialchanges,suchSummaryisprovided toall clientswithin120daysofour fiscalyear‐end. Ourannualupdatewas filedonFebruary 11, 2015. Of course the complete Brochure is available to clients at any time uponrequest.
HBKWealthManagement(“HBK”)wasregisteredasaninvestmentadviserwiththeSecuritiesandExchangeCommissionin2013andprovidesfinancialplanningandportfoliomanagementservicestoitsclients.Suchservicesareofferedthroughthe“HBKWealthWrapProgram”orthe“Program”,whichhasbeendesignedtosimplifythepaymentofmanagementfeesandbrokerageexpenses.As of December 31, 2014, HBK managed $305,243,571 assets on a discretionary basis, and noassetsonanon‐discretionarybasis.DavidB.HaireisthesoleprincipalownerofHBK.PleaseseeBrochureSupplements,ExhibitA,formore informationonMr.Haireandother individualswho formulate investmentadviceandhavedirectcontactwithclients,orhavediscretionaryauthorityoverclientaccounts.
GeneralInformationAt the beginning of a client relationship, HBK meets with the client, gathers information, andperformsresearchandanalysisasnecessary. Basedon itsreviews,HBKgenerallydevelopswitheachclient:
theclient’sinvestmentobjectivesandguidelines(the“InvestmentPlan”).TheFinancialProfileisareflectionoftheclient’scurrentfinancialpictureandalooktothefuturegoalsoftheclient.TheInvestmentPlanoutlinesthetypesofinvestmentsHBKwillmakeonbehalfoftheclientinordertomeetthosegoals.TheProfileandthePlanarediscussedregularlywitheachclient,butarenotnecessarilywrittendocuments.The Investment Planwill be updated from time to timewhen requested by the client, or whendeterminedtobenecessaryoradvisablebyHBKbasedonupdatestotheclient’sfinancialorothercircumstances.
FinancialPlanning
HBKofferslimitedfinancialplanningservicestothoseclientsinneedofsuchserviceinconjunctionwithPortfolioManagement services. HBK’s limited financial planning services normally addressareassuchasgeneralcashflowplanning,retirementplanning,andinsuranceanalysis.Thegoalofthisserviceistoassessthefinancialcircumstancesoftheclientinordertomoreeffectivelydevelopthe client’s Investment Plan. Financial planning is not offered as a stand‐alone service or for aseparatefee,butistypicallyprovidedinconjunctionwiththemanagementoftheportfolio.
Notwithstanding the foregoing, clients may impose certain written restrictions on HBK in themanagement of their investment portfolios, such as prohibiting the inclusion of certain types ofinvestments in an investmentportfolio orprohibiting the sale of certain investmentsheld in theaccount at the commencement of the relationship. Each client should note, however, thatrestrictions imposed by a client may adversely affect the composition and performance of theclient’s investmentportfolio. Each client shouldalsonote thathisorher investmentportfolio istreated individuallybygivingconsiderationtoeachpurchaseorsale fortheclient’saccount. Fortheseandotherreasons,performanceofclient investmentportfolioswithin thesame investmentobjectives, goals and/or risk tolerance may differ and clients should not expect that thecomposition or performance of their investment portfolioswould necessarily be consistentwithsimilarclientsofHBK.
GeneralFeeInformation
Feespaidbyclients toparticipate in theHBKWealthWrapProgram includebrokerageexpenses(i.e.,commissions,ticketcharges,etc.)aswellasthemanagementfeepaidtoHBK.PleaseseeItem6‐PortfolioManagerSelectionandEvaluationforadditionalinformation.Undertheall‐inclusivebilling alternative, HBKwill assess one client fee that captures themanagement, brokerage andadministrativeportionscollectively.Thestandardratescheduleissetforthbelow.FeespaidtoHBKareexclusiveofanddistinctfromthefeesandexpenseschargedbymutualfunds,ETFs(exchangetradedfunds)orotherinvestmentpoolstotheirshareholders(generallyincludingamanagementfeeandfundexpenses,asdescribedineachfund’sprospectusorofferingmaterials).ClientswillpaycertainfeesinadditiontothefeesoftheHBKWealthWrapProgram,asmorefullydescribedbelow.The client should reviewall fees chargedby funds,HBKandothers to fullyunderstand the totalamountoffeespaidbytheclientforinvestmentandfinancial‐relatedservices.Clientsparticipatingin the HBK Wealth Wrap Program may pay higher or lower fees than clients purchasing suchservicesseparately,dependingonthecostofservicesifprovidedseparatelyandtheleveloftradinginaparticularclient’saccount.
WrapFeeProgramFeesHBK’s annual fee for investment management services provided under this Agreement shall bebasedon themarketvalueof theassetsundermanagement ineachaccountandbecalculatedasfollows: AssetsUnderManagement AnnualRate
The above fees are negotiable and charged quarterly in advance. Clients may incur additionalcharges for other account services that are not directly related to the execution and clearing oftransactions,including,butnotlimitedto,IRAcustodialfees,safekeepingfees,interestchargesonmarginloans,andfeesfortransfersofsecurities.Ifmanagementbeginsafterthestartofaquarter,
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feeswill be prorated accordingly. With client authorization and unless other arrangements aremade,feesarenormallydebiteddirectlyfromclientaccount(s).Either HBK or the client may terminate their Investment Management Agreement at any time,subjecttoanywrittennoticerequirementsintheagreement.Intheeventoftermination,anypaidbutunearned feeswill bepromptly refunded to the client basedon thenumberofdays that theaccountwasmanaged,andanyfeesduetoHBKfromtheclientwillbeinvoicedordeductedfromtheclient’saccountpriortotermination.
OtherCompensationCertainofHBK’semployeesarealsoRegisteredRepresentativesofLPLFinancial(“LPL”),aFINRAandSIPCmember,andregisteredbroker/dealer.Assuch,theyareentitledtoreceivecommissionsor other remuneration on the sale of insurance and other products. To protect client interests,HBK’spolicyistofullydiscloseallformsofcompensationbeforeanysuchtransactionisexecuted.ClientswillnotpaybothacommissiontotheseindividualsandalsopayanadvisoryfeetoHBKonassets held in the same account. These fees are exclusive of each other. As a result of thisrelationship, LPLmay have access to certain confidential information (i.e., financial information,investment objectives, transactions, and holdings) about HBK clients, even if the client does notestablish any account through LPL. If you would like a copy of the LPL privacy notice, pleasecontactJoshHaire.
Item5–AccountRequirementsandTypesofClients
The HBK Wealth Wrap Program is generally offered to individuals, pension and profit‐sharingplans,corporations,trusts,estatesandcharitableorganizations.HBKdoesnotgenerallyimposeaminimumportfoliovalueforconventionalinvestmentadvisoryservicesoraminimumfee.
Item6–PortfolioManagerSelectionandEvaluation
TheHBKWrapProgramwasdesignedtosimplifyforclientsthepaymentofmanagementfeesandbrokerageexpenses. TheProgramdoesnotselectadvisers inaddition toHBK,which is theonlyPortfolioManagerfortheProgram.
ETFs and Mutual Funds will be evaluated and selected based on a variety of factors, including,withoutlimitation:pastperformance,feestructure,portfoliomanager,fundsponsor,overallratingsforsafetyandreturn,andotherfactors.
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Fixed Income Investments will be used as a strategic investment to fulfill liquidity and incomeneedsinaportfolio,ortoaddacomponentofcapitalpreservation. HBKmayevaluateandselectindividualbondsorbondfundsbasedonanumberoffactors,including,withoutlimitation,rating,yield,andduration.
CyclicalAnalysis – is a type of technical analysis that involves evaluating recurring pricepatternsandtrends.
InvestmentStrategies
Fromaccumulation todistribution,HBK’sstrategicapproach is to investportfolios inaccordancewith thePlan thathasbeendeveloped specifically for each client, designing individualportfoliosbasedon the client’suniquecircumstances. Generally,HBK is a long‐term investor and typicallydevelopsaclientportfoliobasedontheclient’sstageoflife.
Clientswillbeplacedinageneralmodelthatwillbecustomizedaccordingtorisktolerance,timehorizon,sizeofportfolio,andotherfactorsthatwillvaryfromclienttoclient.Althoughtwoclientsmay be in the same overall portfolio model, each portfolio will differ based on each client’ssituation.
The following strategies may be used in varying combinations over time for a given client,dependingupontheclient’sindividualcircumstances.
LongTermPurchases– securitiespurchasedwith theexpectation that thevalueof thosesecuritieswillgrowoverarelativelylongperiodoftime,generallygreaterthanoneyear.Margin Transactions – a securities transaction in which an investor borrows money topurchaseasecurity,inwhichcasethesecurityservesascollateralontheloan.OptionsTrading/Writing:asecuritiestransactionthat involvesbuyingorselling(writing)anoption. Ifyouwriteanoption,andthebuyerexercisestheoption,youareobligatedto
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purchaseordeliveraspecifiednumberofsharesataspecifiedpriceattheexerciseoftheoptionregardlessofthemarketvalueofthesecurityatexpirationoftheoption.Buyinganoption gives you the right topurchaseor sell a specifiednumber of shares at a specifiedpriceuntilthedateofexpirationoftheoptionregardlessofthemarketvalueofthesecurityatexpirationoftheoption.
RiskofLoss
WhileHBKseekstodiversifyclients’ investmentportfoliosacrossvariousassetclassesconsistentwiththeirInvestmentPlansinanefforttoreduceriskofloss,allinvestmentportfoliosaresubjectto risks. Accordingly, there canbenoassurance that client investmentportfolioswill be able tofullymeettheirinvestmentobjectivesandgoals,orthatinvestmentswillnotlosemoney.Belowisadescriptionofseveraloftheprincipalrisksthatclientinvestmentportfoliosface.ManagementRisks. WhileHBKmanages client investmentportfoliosbasedonHBK’s experience,researchandproprietarymethods,thevalueofclientinvestmentportfolioswillchangedailybasedon the performance of the underlying securities inwhich they are invested. Accordingly, clientinvestment portfolios are subject to the risk that HBK allocates assets to asset classes that areadverselyaffectedbyunanticipatedmarketmovements,andtheriskthatHBK’sspecificinvestmentchoicescouldunderperformtheirrelevantindexes.Risksof Investments inMutualFunds,ETFsandOther InvestmentPools. Asdescribedabove,HBKmayinvestclientportfoliosinmutualfunds,ETFsandotherinvestmentpools(“pooledinvestmentfunds”). Investments in pooled investment funds are generally less risky than investing inindividual securities because of their diversified portfolios; however, these investments are stillsubject torisksassociatedwiththemarkets inwhichthey invest. Inaddition,pooled investmentfunds’ successwill be related to the skills of their particularmanagers and theirperformance inmanaging their funds. Pooled investment funds are also subject to risks due to regulatoryrestrictionsapplicabletoregistered investmentcompaniesundertheInvestmentCompanyActof1940.RisksRelatedtoAlternativeInvestmentVehicles.Thevalueofclientportfolioswillbebasedinparton thevalueofalternative investmentvehicles inwhich theyare invested, thesuccessofeachofwhichwill depend heavily upon the efforts of their respectiveManagers. When the investmentobjectives and strategies of a Manager are out of favor in the market or a Manager makesunsuccessful investment decisions, the alternative investment vehiclesmanaged by theManagermaylosemoney. Aclientaccountmayloseasubstantialpercentageofitsvalueiftheinvestmentobjectives and strategies of many or most of the alternative investment vehicles in which it isinvested areout of favor at the same time, ormanyormost of theManagersmakeunsuccessfulinvestmentdecisionsatthesametime.Equity Market Risks. HBK will generally invest portions of client assets directly into equityinvestments,primarilystocks,orintopooledinvestmentfundsthatinvestinthestockmarket.Asnotedabove,whilepooled investmentshavediversifiedportfoliosthatmaymakethemlessriskythaninvestmentsinindividualsecurities,fundsthatinvestinstocksandotherequitysecuritiesareneverthelesssubject to therisksof thestockmarket. Theserisks include,without limitation, therisks thatstockvalueswilldeclineduetodaily fluctuations in themarkets,andthatstockvalueswill decline over longer periods (i.e., bearmarkets) due to generalmarket declines in the stockpricesforallcompanies,regardlessofanyindividualsecurity’sprospects.
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Fixed Income Risks. HBK may invest portions of client assets directly into fixed incomeinstruments, such as bonds and notes, or may invest in pooled investment funds that invest inbondsandnotes. While investing in fixed income instruments,eitherdirectlyor throughpooledinvestment funds, isgenerally lessvolatile than investing instock(equity)markets, fixed incomeinvestmentsneverthelessaresubjecttorisks.Theserisksinclude,withoutlimitation,interestraterisks(risksthatchangesininterestrateswilldevaluetheinvestments),creditrisks(risksofdefaultby borrowers), or maturity risk (risks that bonds or notes will change value from the time ofissuancetomaturity).ForeignSecuritiesRisks.HBKmayinvestportionsofclientassetsintopooledinvestmentfundsthatinvest internationally. While foreign investments are important to the diversification of clientinvestmentportfolios, theycarryrisksthatmaybedifferent fromU.S. investments. Forexample,foreign investments may not be subject to uniform audit, financial reporting or disclosurestandards,practicesor requirements comparable to those found in theU.S. Foreign investmentsare also subject to foreign withholding taxes and the risk of adverse changes in investment orexchangecontrolregulations.Finally,foreigninvestmentsmayinvolvecurrencyrisk,whichistheriskthatthevalueoftheforeignsecuritywilldecreaseduetochangesintherelativevalueoftheU.S.dollarandthesecurity’sunderlyingforeigncurrency.DerivativesRisk:HBKmay,forcertainclientsthatqualifyas“accreditedinvestors”andforwhomitis appropriate, invest portions of the client assets in Private Placement Funds that invest inderivative financial instruments (“derivatives”) including, without limitation, futures, options,interestrateswaps,forwardcurrencycontractsandcreditderivativessuchascreditdefaultswaps.A small investment in derivatives could have a potentially large impact on an investor’sperformance. The use of derivatives involves risks different from, or possibly greater than, therisks associated with investing directly in the underlying assets. These risks include:(1)counterparty risk; (2)interest rate risk; (3) basis risk; (4) settlement risk; (5) legal risk;(6)operational risk; and (7)market risk. Counterparty risk is the risk that one of the Fund’scounterparties might default on its obligation to pay or perform generally on its obligations.Interestrateriskisthegeneralriskassociatedwithmovementsininterestrates.Basisriskistheriskassociatedwiththerelativemovementsintwo(related)ratesorprices.Settlementriskistheriskthatasettlementinatransfersystemdoesnottakeplaceasexpected.Legalriskistheriskthata transaction proves unenforceable in law or because it has been inadequately documented.Operationalriskistheriskofunexpectedlossesarisingfromdeficiencies inafirm’smanagementinformation, support and control systems and procedures. Market risk is the risk of potentialadversechangesinthevalueoffinancialinstrumentsresultingfromchangesinmarketprices,suchas interest, commodity and currency rate movements. In addition, derivatives can be highlyvolatile,illiquidanddifficulttovalue.
VotingClientSecuritiesAsapolicyand inaccordancewithHBK’sclientagreement,HBKdoesnotvoteproxiesrelatedtosecurities held in client accounts. The custodian of the account will normally provide proxymaterials directly to the client. Clients may contact HBK with questions relating to proxyproceduresandproposals;however,HBKgenerallydoesnotresearchparticularproxyproposals.
without limitation,qualityofexecution,servicesprovidedandcommissionrates. Therefore,HBKmayuseorrecommendtheuseofbrokerswhodonotchargethelowestavailablecommissioninthe recognitionof researchandsecurities transaction services,orqualityof execution. Researchservices received with transactions may include proprietary or third party research (or anycombination),andmaybeusedinservicinganyorallofHBK’sclients.Therefore,researchservicesreceivedmaynotbeusedfortheaccountforwhichtheparticulartransactionwaseffected.HBKparticipatesintheLPLStrategicWealthManagementCustodialPlatformII(“LPL”).Whilethere isnodirect linkbetween the investmentadviceHBKprovidesandparticipation in theLPLprogram, HBK receives certain economic benefits from the LPL program. These benefits mayinclude softwareandother technology thatprovides access to client accountdata (suchas tradeconfirmations and account statements), facilitates trade execution (and allocation of aggregatedordersformultipleclientaccounts),providesresearch,pricinginformationandothermarketdata,facilitates the payment of HBK’s fees from its clients’ accounts, and assists with back‐officefunctions,recordkeepingandclientreporting.ManyoftheseservicesmaybeusedtoserviceallorasubstantialnumberofHBK’saccounts,potentially includingaccountsnotheldatLPL. LPLmayalsomakeavailable toHBKother services intended tohelpHBKmanage and furtherdevelop itsbusiness. These services may include consulting, publications and conferences on practicemanagement, information technology,businesssuccession, regulatorycomplianceandmarketing.Inaddition,LPLmaymakeavailable,arrangeand/orpayforthesetypesofservicestoberenderedtoHBKbyindependentthirdparties.LPLmaydiscountorwaivefeesitwouldotherwisechargeforsomeoftheseservices,payallorapartofthefeesofathird‐partyprovidingtheseservicestoHBK,and/or LPL may pay for travel expenses relating to participation in such training. Finally,participationintheLPLprogramprovidesHBKwithaccesstomutualfundswhichnormallyrequiresignificantly higher minimum initial investments or are normally available only to institutionalinvestors.ThebenefitsreceivedthroughparticipationintheLPLprogramdonotnecessarilydependupontheproportionof transactionsdirected toLPL. ThebenefitsarereceivedbyHBK, inpartbecauseofcommissionrevenuegeneratedforLPLbyHBK’sclients.Thismeansthattheinvestmentactivityinclientaccounts isbeneficial toHBK,becauseLPLdoesnotassessa fee toHBK for theseservices.This creates an incentive forHBK to continue to recommendLPL to its clients. While itmaybepossible toobtain similar custodial, executionandother serviceselsewhereat a lower cost,HBKbelievesthatLPLprovidesanexcellentcombinationoftheseservices. Theseservicesarenotsoftdollararrangements,butarepartoftheinstitutionalplatformofferedbyLPL.
AggregatedTradePolicyHBKmayentertradesasablockwherepossibleandwhenadvantageoustoclientswhoseaccountshave a need to buy or sell shares of the same security. This method permits the trading ofaggregateblocksofsecuritiescomposedofassets frommultipleclientaccounts. ItallowsHBKtoexecutetradesinatimely,equitablemanner,andmayreduceoverallcoststoclients.HBKwillonlyaggregatetransactionswhenitbelievesthataggregationisconsistentwithitsdutytoseekbest execution (which includes theduty to seekbest price) for its clients, and is consistentwith the terms of HBK’s Investment Advisory Agreement with each client for which trades are
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being aggregated. No advisory client will be favored over any other client; each client thatparticipates in an aggregated order will participate at the average share price for all HBK’stransactions in a given security on a given business day. Transaction costs for participatingaccountswillbeassessedatthecustodian’scommissionrateapplicabletoeachaccount;therefore,transaction costsmay vary among accounts. Accountsmaybe excluded fromablockdue to taxconsiderations, client direction or other factors making the account’s participation ineligible orimpractical.HBK will prepare, before entering an aggregated order, a written statement (“AllocationStatement”) specifying the participating client accounts and how it intends to allocate the orderamong those clients. If the aggregated order is filled in its entirety, it will be allocated amongclientsinaccordancewiththeAllocationStatement.Iftheorderispartiallyfilled,itwillgenerallybe allocated pro‐rata, based on the Allocation Statement, or randomly in certain circumstances.Notwithstandingtheforegoing,theordermaybeallocatedonabasisdifferentfromthatspecifiedintheAllocationStatementifallclientaccountsreceivefairandequitabletreatment,andthereasonfordifferentallocationisexplainedinwritingandisapprovedbyanappropriateindividual/officerofHBK.HBK’sbooksandrecordswillseparatelyreflect,foreachclientaccountincludedinablocktrade,thesecuritiesheldbyandboughtandsoldforthataccount. Fundsandsecuritiesofclientswhose orders are aggregated will be deposited with one or more banks or broker‐dealers, andneithertheclients’cashnortheirsecuritieswillbeheldcollectivelyanylongerthanisnecessarytosettle the transactionon adelivery versuspaymentbasis; cashor securitiesheld collectively forclientswillbedeliveredouttothecustodianbankorbroker‐dealerassoonaspracticablefollowingthesettlement,andHBKwillreceivenoadditionalcompensationorremunerationofanykindasaresultoftheproposedaggregation.
CustodyLPL is the custodian of all client accounts atHBK. It is the custodian’s responsibility to provideclientswithconfirmationsoftradingactivity,taxformsandatleastquarterlyaccountstatements.Clients are advised to review this information carefully, and to notify HBK of any questions orconcerns.ClientsarealsoaskedtopromptlynotifyHBKifthecustodianfailstoprovidestatementsoneachaccountheld.From time to time and in accordance with HBK’s agreement with clients, HBK will provideadditional reports. The account balances reflected on these reports should be compared to thebalances shown on the brokerage statements to ensure accuracy. At times there may be smalldifferencesduetothetimingofdividendreporting,pendingtradesorothersimilarissues.
InvestmentDiscretionAs described in Item 4 ‐ Services, Fees and Compensation, HBK manages portfolios on adiscretionary basis. This means that after an Investment Plan is developed for the client’sinvestmentportfolio,HBKwillexecutethatplanwithoutspecificconsent fromtheclient foreachtransaction. Fordiscretionaryaccounts,aLimitedPowerofAttorney(“LPOA”)isexecutedbytheclient,givingHBKtheauthoritytocarryoutvariousactivitiesintheaccount,generallyincludingthefollowing:tradeexecution;theabilitytorequestchecksonbehalfoftheclient,andthewithdrawalof advisory fees directly from the account. HBK then directs investment of the client’s portfoliousing its discretionary authority. The client may limit the terms of the LPOA to the extentconsistentwiththeclient’sinvestmentadvisoryagreementwithHBKandtherequirementsofthe
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client’s custodian. Thediscretionary relationship is furtherdescribed in the agreementbetweenHBKandtheclient.
DisciplinaryInformationRegistered investment advisers are required to disclose allmaterial facts regarding any legal ordisciplinaryeventsthatwouldbematerialtoaclient’sevaluationofHBKortheintegrityofHBK’smanagement.HBKhasnodisciplinaryeventstoreport.
CodeofEthicsandPersonalTradingHBK has adopted a Code of Ethics (“the Code”), the full text of which is available to you uponrequest.HBK’sCodehasseveralgoals.First,theCodeisdesignedtoassistHBKincomplyingwithapplicablelawsandregulationsgoverningitsinvestmentadvisorybusiness.UndertheInvestmentAdvisersActof1940,HBKowesfiduciarydutiestoitsclients. Pursuanttothesefiduciaryduties,the Code requires persons associatedwith HBK (managers, officers and employees) to act withhonesty,good faithand fairdealing inworkingwithclients. Inaddition, theCodeprohibitssuchassociatedpersonsfromtradingorotherwiseactingoninsiderinformation.Next, the Code sets forth guidelines for professional standards for HBK’s associated persons.UndertheCode’sProfessionalStandards,HBKexpectsitsassociatedpersonstoputtheinterestsofitsclientsfirst,aheadofpersonalinterests.Inthisregard,HBKassociatedpersonsarenottotakeinappropriateadvantageoftheirpositionsinrelationtoHBKclients.Third, the Code sets forth policies and procedures to monitor and review the personal tradingactivities of associated persons. From time to timeHBK’s associated personsmay invest in thesamesecuritiesrecommendedtoclients.UnderitsCode,HBKhasadoptedproceduresdesignedtoreduce or eliminate conflicts of interest that this could potentially cause. The Code’s personaltradingpoliciesincludeproceduresforlimitationsonpersonalsecuritiestransactionsofassociatedpersons, reporting and review of such trading and pre‐clearance of certain types of personaltrading activities. These policies are designed to discourage and prohibit personal trading thatwould disadvantage clients. The Code also provides for disciplinary action as appropriate forviolations.
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ParticipationorInterestinClientTransactionsBecauseassociatedpersonsmayinvestinthesamesecuritiesasthoseheldinclientaccounts,HBKhasestablishedapolicyrequiringitsassociatedpersonstopre‐cleartransactionsincertainofthesesecurities with the Chief Compliance Officer. The goal of this policy is to avoid any conflict ofinterestthatmaypresentitselfinthesesituations.Sometypesofsecurities,suchasCDs,treasuryobligationsandopen‐endmutualfundsareexemptfromthispre‐clearancerequirement.However,in theeventofother identifiedpotential tradingconflictsof interest,HBK’sgoal is toplaceclientinterestsfirst.Consistent with the foregoing, HBK maintains policies regarding participation in initial publicofferings (IPOs) and private placements to complywith applicable laws and avoid conflictswithclienttransactions.Finally,ifassociatedpersonstradewithclientaccounts(i.e.,inabundledoraggregatedtrade),andthetradeisnotfilledinitsentirety,theassociatedperson’sshareswillberemovedfromtheblock,andthebalanceofshareswillbeallocatedamongclientaccountsinaccordancewithHBK’swrittenpolicy.
ReviewofAccountsManagedportfoliosarereviewedatleastquarterly,butmaybereviewedmoreoftenifrequestedbytheclient,uponreceiptofinformationmaterialtothemanagementoftheportfolio,oratanytimesuch review is deemed necessary or advisable by HBK. These factors may include but are notlimitedto,thefollowing:changeingeneralclientcircumstances(marriage,divorce,retirement);oreconomic,politicalormarketconditions.OneormoreInvestmentAdviserRepresentativesand/orafirmprincipalreviewallaccounts.Accountcustodiansareresponsible forprovidingmonthlyorquarterlyaccountstatementswhichreflectthepositions(andcurrentpricing)ineachaccountaswellastransactionsineachaccount,including feespaid fromanaccount. Accountcustodiansalsoprovidepromptconfirmationofalltrading activity, and year‐end tax statements, such as 1099 forms. In addition,HBKprovides atleast a quarterly report for each managed portfolio. This written report normally includes asummary of portfolio holdings and performance results. Additional reports are available at therequestoftheclient
ClientReferralsandOtherCompensationAsnotedabove,HBKmayreceiveaneconomicbenefit fromLPL in the formofsupportproductsandservicesitmakesavailabletoHBKandotherindependentinvestmentadvisorsthathavetheirclientsmaintainaccountsatLPL.Theseproductsandservices,howtheybenefitourfirm,andtherelatedconflictsofinterestaredescribedinItem6‐PortfolioManagerSelectionandEvaluation.TheavailabilityofLPL’sproductsandservices toHBK isbasedsolelyonourparticipation in theprogram,andnotontheprovisionofanyparticularinvestmentadvice.NeitherLPLnoranyotherpartyispaidtoreferclientstoHBK.
March4,2015This brochure supplement provides information about David Haire, and supplements the HBKWealthManagement(“HBK”)brochure.Youshouldhavereceivedacopyofthatbrochure.PleasecontactHBKat513‐942‐9700ifyoudidnotreceiveHBK’sbrochure,orifyouhaveanyquestionsaboutthecontentsofthissupplement.AdditionalinformationaboutDavidisavailableontheSEC’swebsiteatwww.AdviserInfo.sec.gov.
Item2‐EducationalBackgroundandBusinessExperience
David Bernard Haire (year of birth 1949) is President of HBK Wealth Management (formerlyknown as Haire Bohmer Wealth Management Group) and has 26 years of industry experience.David formedHaireBohmerWealthManagementGroup in1999andprovided financialplanningandportfoliomanagementservicesinconjunctionwithhisemploymentasaFinancialPlannerandRegisteredRepresentativeofLPLFinancial(“LPL”).In2013,thefirm’snamewaschangedtoHBKWealthManagement. Inorder toprovidewealthmanagementservices independentofLPL,HBKregistered as an investment adviser with the SEC. David continues to serve as a RegisteredRepresentative of LPL in order to provide HBK clients certain products and services. Prior tojoiningLPL,DavidservedasaRegisteredRepresentativewithvariousbroker/dealers.DavidearnedaBachelorofArts fromMarianUniversity in1971,aMasterofArts fromBallStateUniversityin1974andaMasterofSciencefromCollegeFinancialPlanningin2005.DavidhasalsobeenaCERTIFIEDFINANCIALPLANNER™professional*since1992.
ExhibitA‐2
* The CFP® certification is granted by Certified Financial Planner Board of Standards, Inc. (CFPBoard). To attain the certification, the candidate must complete the required educational,examination, experience and ethics requirements set forth by CFP Board. Certain designations,suchastheCPA,CFAandothersmaysatisfytheeducationcomponent,andallowacandidatetositfortheCFP®CertificationExamination.Acomprehensiveexaminationteststhecandidate’sabilityto apply financial planning knowledge to client situations. Qualifying work experience is alsorequired for certification. Qualifying experience includeswork in the area of the delivery of thepersonal financial planning process to clients, the direct support or supervision of others in thepersonal financial planning process, or teaching all, or any portion, of the personal financialplanningprocess.CFP®professionalsmustcomplete30hoursofcontinuingeducationacceptedbyCFPBoardeverytwoyears.Item3‐DisciplinaryInformationAdvisersarerequired todiscloseanymaterial factsregardingcertain legalordisciplinaryeventsthatwouldbematerial toyourevaluationof anadviser;howeverDavidhasnosuchdisciplinaryinformationtoreport.
Item4‐OtherBusinessActivities
DavidisalsoaRegisteredRepresentativeofLPLFinancial(“LPL”),anSECregisteredbroker/dealerand member of FINRA and SIPC. As Registered Representative, he is entitled to receivecommissions or other remuneration on the sale of insurance and other products. In order toprotectclientinterests,HBK’spolicyistofullydiscloseallformsofcompensationbeforeanysuchtransactionisexecuted.ClientswillnotpaybothacommissiontoDavidandalsopayanadvisoryfeetoHBKonassetsheldinthesameaccount.Thesefeesareexclusiveofeachother.
March4,2015ThisbrochuresupplementprovidesinformationaboutMichaelBohmer(“Mike”),andsupplementstheHBKWealthManagement(“HBK”)brochure.Youshouldhavereceivedacopyofthatbrochure.Please contact HBK at 513‐942‐9700 if you did not receive HBK’s brochure, or if you have anyquestionsaboutthecontentsofthissupplement.AdditionalinformationaboutMikeisavailableontheSEC’swebsiteatwww.AdviserInfo.sec.gov.
Item2‐EducationalBackgroundandBusinessExperience
Michael Sullivan Bohmer (year of birth 1972) is an Investment Adviser Representative of HBK.Prior to joiningHBK,Mikewasan InvestmentAdviserRepresentativeofLPLFinancial,LLC from2001to2013.MikecontinuestoserveasaRegisteredRepresentativeofLPLFinancialCorporation,a broker‐dealer, where he has been employed since 2001. Mike’s previous industry experienceincludesworkingasaFinancialPlannerwithDonahueSecurities,Inc.andservingasaRegisteredRepresentativewithMetlifeSecurities,Inc.MikeearnedhisBachelorsinEconomicsfromtheUniversityofNotreDamein1995.MikeisalsoaCertifiedFundSpecialist(CFS)*.
ExhibitA‐4
* TheCFScertificationisgrantedbytheInstituteofBusiness&Finance.TheCFSisacertificationindicatinganindividual'sexpertiseinmutualfundsandthemutualfundindustry.Theseindividualsadviseclientsonwhichmutualfundsbestsuittheirparticularneeds.TheCFSdesignationdoesnotlicense individuals tobuyorsellmutual funds;however, inmanycasesCFSdohave this license,whichenablesthemtobuyandsellthefundsfortheirclients.TheCFSistheoldestdesignationinthemutualfundindustry.TrainingisprovidedbytheInstituteofBusiness&Finance(IBF)intheformofa60‐hourself‐studyprogram.Coursetopicsinclude,butarenotlimitedto,portfoliotheory,dollar‐costaveragingandannuities.Thecourseincludesafinalexam,administeredbytheNationalAssociationofSecuritiesDealers,andanopen‐bookcasestudy.Item3‐DisciplinaryInformationAdvisersarerequired todiscloseanymaterial factsregardingcertain legalordisciplinaryeventsthatwould bematerial to your evaluation of an adviser; howeverMike has no such disciplinaryinformationtoreport.
Item4‐OtherBusinessActivities
MikeisalsoaRegisteredRepresentativeofLPLFinancial(“LPL”),anSECregisteredbroker/dealerand member of FINRA and SIPC. As Registered Representative, he is entitled to receivecommissions or other remuneration on the sale of insurance and other products. In order toprotectclientinterests,HBK’spolicyistofullydiscloseallformsofcompensationbeforeanysuchtransactionisexecuted.ClientswillnotpaybothacommissiontoMikeandalsopayanadvisoryfeetoHBKonassetsheldinthesameaccount.Thesefeesareexclusiveofeachother.
March4,2015This brochure supplement provides information about John Kilcoyne, and supplements theHBKWealthManagement(“HBK”)brochure.Youshouldhavereceivedacopyofthatbrochure.PleasecontactHBKat513‐942‐9700ifyoudidnotreceiveHBK’sbrochure,orifyouhaveanyquestionsaboutthecontentsofthissupplement.AdditionalinformationaboutJohnisavailableontheSEC’swebsiteatwww.AdviserInfo.sec.gov.
Item2‐EducationalBackgroundandBusinessExperience
JohnMichaelKilcoyne(yearofbirth1972)isanInvestmentAdviserRepresentativeofHBK.PriortojoiningHBK,JohnwasanInvestmentAdviserRepresentativewithLPLFinancial,LLCfrom2001to2013. John continues to serve as aRegisteredRepresentativeof LPLFinancial Corporation, abroker‐dealer,wherehehasbeenemployedsince2001.John earnedhisbachelorsdegree inAccounting from theUniversityofNotreDame in1995. HebecameaCPA*in1996andaCERTIFIEDFINANCIALPLANNER™professional**in2002.
ExhibitA‐6
*A CPA is a Certified Public Accountant. All CPA candidates must pass the Uniform CPAExamination toqualify for aCPA certificate and license topracticepublic accounting. While theexam is the same regardless of where it is taken, every state/jurisdiction has its own set ofeducationandexperiencerequirementsthatindividualsmustmeet.However,moststatesrequireat least a bachelor’s degree and a concentration in accounting, and at least one year of publicaccountingexperienceunder thesupervisionoforverificationbyaCPA. Oncethedesignation isattained,theCPAisrequiredtomeetcontinuingeducationrequirements.** The CFP® certification is granted by Certified Financial Planner Board of Standards, Inc. (CFPBoard). To attain the certification, the candidate must complete the required educational,examination, experience and ethics requirements set forth by CFP Board. Certain designations,suchastheCPA,CFAandothersmaysatisfytheeducationcomponent,andallowacandidatetositfortheCFP®CertificationExamination.Acomprehensiveexaminationteststhecandidate’sabilityto apply financial planning knowledge to client situations. Qualifying work experience is alsorequired for certification. Qualifying experience includeswork in the area of the delivery of thepersonal financial planning process to clients, the direct support or supervision of others in thepersonal financial planning process, or teaching all, or any portion, of the personal financialplanningprocess.CFP®professionalsmustcomplete30hoursofcontinuingeducationacceptedbyCFPBoardeverytwoyears.Item3‐DisciplinaryInformationAdvisersarerequired todiscloseanymaterial factsregardingcertain legalordisciplinaryeventsthatwould bematerial to your evaluation of an adviser; however John has no such disciplinaryinformationtoreport.
Item4‐OtherBusinessActivities
JohnisalsoaRegisteredRepresentativeofLPLFinancial(“LPL”),anSECregisteredbroker/dealerand member of FINRA and SIPC. As Registered Representative, he is entitled to receivecommissions or other remuneration on the sale of insurance and other products. In order toprotectclientinterests,HBK’spolicyistofullydiscloseallformsofcompensationbeforeanysuchtransactionisexecuted.ClientswillnotpaybothacommissiontoJohnandalsopayanadvisoryfeetoHBKonassetsheldinthesameaccount.Thesefeesareexclusiveofeachother.
Bethany is also a Registered Representative of LPL Financial (“LPL”), an SEC registeredbroker/dealer andmember of FINRA and SIPC. As Registered Representative, she is entitled toreceivecommissionsorotherremunerationonthesaleofinsuranceandotherproducts.Inorderto protect client interests, HBK’s policy is to fully disclose all forms of compensation before anysuch transaction isexecuted. Clientswillnotpaybothacommission toBethanyandalsopayanadvisoryfeetoHBKonassetsheldinthesameaccount.Thesefeesareexclusiveofeachother.
Mary KathrynHerrington (year of birth 1968) is an Investment Adviser Representative of HBK.Prior to joiningHBK,Marywasan InvestmentAdviserRepresentativeofLPLFinancial,LLC from2010 to 2013. Mary continues to serve as a Registered Representative of LPL FinancialCorporation,abroker‐dealer,whereshehasbeenemployedsince2010.MaryearnedherBachelorofArtsinEconomicsfromUniversityofNotreDamein1990.MaryhasalsobeenaCERTIFIEDFINANCIALPLANNER™professional*since2011.* The CFP® certification is granted by Certified Financial Planner Board of Standards, Inc. (CFPBoard). To attain the certification, the candidate must complete the required educational,examination, experience and ethics requirements set forth by CFP Board. Certain designations,suchastheCPA,CFAandothersmaysatisfytheeducationcomponent,andallowacandidatetositfortheCFP®CertificationExamination.Acomprehensiveexaminationteststhecandidate’sability
ExhibitA‐10
to apply financial planning knowledge to client situations. Qualifying work experience is alsorequired for certification. Qualifying experience includeswork in the area of the delivery of thepersonal financial planning process to clients, the direct support or supervision of others in thepersonal financial planning process, or teaching all, or any portion, of the personal financialplanningprocess.CFP®professionalsmustcomplete30hoursofcontinuingeducationacceptedbyCFPBoardeverytwoyears.Item3‐DisciplinaryInformationAdvisersarerequired todiscloseanymaterial factsregardingcertain legalordisciplinaryeventsthatwould bematerial to your evaluation of an adviser; howeverMaryhas no suchdisciplinaryinformationtoreport.
Item4‐OtherBusinessActivities
MaryisalsoaRegisteredRepresentativeofLPLFinancial(“LPL”),anSECregisteredbroker/dealerand member of FINRA and SIPC. As Registered Representative, she is entitled to receivecommissions or other remuneration on the sale of insurance and other products. In order toprotectclientinterests,HBK’spolicyistofullydiscloseallformsofcompensationbeforeanysuchtransactionisexecuted. ClientswillnotpaybothacommissiontoMaryandalsopayanadvisoryfeetoHBKonassetsheldinthesameaccount.Thesefeesareexclusiveofeachother.
March4,2015ThisbrochuresupplementprovidesinformationaboutJoshuaHaire(“Josh”),andsupplementstheHBKWealthManagement (“HBK”) brochure. You shouldhave received a copy of that brochure.Please contact HBK at 513‐942‐9700 if you did not receive HBK’s brochure, or if you have anyquestionsaboutthecontentsofthissupplement.AdditionalinformationaboutJoshisavailableontheSEC’swebsiteatwww.AdviserInfo.sec.gov.
EducationalBackgroundandBusinessExperience
Joshua Scott Haire (year of birth 1976) joined HBK in 2013 and serves as the firm’s ChiefComplianceOfficer.JoshhasalsoservedasaRegisteredRepresentativeofLPLFinancial,LLCsince2013. Prior to joining HBK, Josh was a Senior Wealth Planner for PNC Bank in their TrustDepartmentfromtheendof2011tilljoiningHBK.HealsohelpedlaunchIndieAssetPartners,LLCinOctoberof2010,whereheservedasaWealthAdvisorandChiefComplianceOfficer.From2008to2010,JoshwasaWealthAdvisorwithChamberlainWealthManagement.Josh’spriorexperiencealsoincludesworkingasanAssociateAttorneywithGiddings,Whitsitt,andWilliams,PCwherehepracticedgenerallitigationandestateplanningforthreeyears.JoshearnedhisBachelorofScienceinBiologyfromBallStateUniversityin1999,andreceivedhisJuris Doctorate*(JD) from University of Cincinnati College of Law in 2004. He spent two yearsteachingandcoachingintheTwinLakesSchoolCorporationbeforeattendinglawschool.*AJurisDoctoratedegreeisthedegreecommonlyconferredbylawschools.
JoshisalsoaRegisteredRepresentativeofLPLFinancial(“LPL”),anSECregisteredbroker/dealerand member of FINRA and SIPC. As Registered Representative, he is entitled to receivecommissions or other remuneration on the sale of insurance and other products. In order toprotectclientinterests,HBK’spolicyistofullydiscloseallformsofcompensationbeforeanysuchtransactionisexecuted.ClientswillnotpaybothacommissiontoJoshandalsopayanadvisoryfeetoHBKonassetsheldinthesameaccount.Thesefeesareexclusiveofeachother.
