Client Relationship Summary
Item 1. Introduction
Evermay Wealth Management, LLC (“Evermay”) is a United States Securities and Exchange Commission registered investment advisor. Investment advisory services and compensation structure differ from that of a registered broker-dealer, and it is important that you understand the differences. You should carefully consider which types of accounts and services are right for you. Free and simple tools are available to research firms and financial professionals at https://www.investor.gov/CRS, which also provides educational materials about investment advisers, broker-dealers and investing.
Item 2. Relationships and Services
What investment services and advice can you provide me?
We provide investment management services through our investment advisor representatives (“IARs”) on either a discretionary or non-discretionary basis (“Investment Management Services”). When a retail investor (“client”) engages us to provide Investment Management Services, we shall monitor, on a regular basis, the investments in the accounts over which we have been granted authority. Further, when engaged on a discretionary basis, we shall have authority, without prior consultation with you (unless directed otherwise), to buy, sell, trade, and allocate investments within your account(s), that are consistent with your investment objectives.
When engaged on a non-discretionary basis, the client makes the ultimate decision regarding the purchase or sale of investments. Evermay’s discretionary or non-discretionary authority over your account(s) shall continue until our engagement is terminated. Evermay requires a minimum asset level of $1,000,000, which may be negotiable with your IAR. We may invest in equities, mutual funds, bonds, cash-equivalents, private funds, private equity funds and other instruments and/or third-party investment managers. We do not offer proprietary products, nor do we offer a limited menu of products or types of investments. Financial Planning and Retirement Plan Consulting services are offered to certain clients.
Additional Information:
You may review our Form ADV, Part 2A Firm Brochure (Items 4, 5 and 7) at https://adviserinfo.sec.gov/, by searching our name or CRD#149230.
| 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? |
Item 3. Fees, Costs, Conflicts, and Standard of Conduct
What fees will I pay?
We provide Investment Management Services on an ongoing asset-based fee basis (“advisory fee”). Our advisory fee is paid in advance each quarter based upon the market value of the assets in the account on the last business day of the previous quarter. The more assets there are in your advisory account, the more you will pay in fees, and as such, we may therefore have an incentive to encourage you to increase the assets in your account. Generally, any contributions and/or withdrawals intra-quarter, which result in a prorated quarterly fee adjustment of over one hundred dollars, is charged or credited to the client.
Other Fees and Costs:
Clients may incur certain charges imposed by custodians, brokers, third party investments, private funds, private equity funds, mutual funds, exchange traded funds and other third parties such as fees charged by managers, internal management fees, custodial fees, deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and electronic fund fees, private fund management, performance, and carry and other fees and taxes on brokerage accounts and securities transactions. These fees are disclosed in account and management agreements and fund prospectuses. The Firm does not offer proprietary products and it does not accept third-party payments. Further, Evermay does not engage in revenue sharing or principal trading.
Additional Information:
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 about fees and costs, including our full standard fee schedule, see Form ADV, Part 2A Firm Brochure (Items 5 and 6) at https://adviserinfo.sec.gov/.
| Questions to ask us: • 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 interests 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 is an example to help you understand what this means. Our fees increase the more your account grows in value.
Additional Information:
You may review statements concerning conflicts of interest in our Form ADV, Part 2A Firm Brochure (Items 10 and 11) or by visiting, https://adviserinfo.sec.gov/.
| Questions to ask us: • How might your conflicts of interest affect me, and how will you address them? |
How do your financial professionals make money?
Our IARs are paid based on an agreed upon salary. The salaries are calculated using a formula that could include fixed and/or variable components based on various factors such as growth in client assets, individual or firm goals, assets under management, profit sharing, and/or net new assets. IAR compensation schedules may vary between different financial professionals. The Firm does not permit sales contests. Additional Information: You may review statements concerning conflicts of interest in our Form ADV, Part 2A Firm Brochure (Items 4, 5, 10, 11 and 14) or by visiting, https://adviserinfo.sec.gov/.
Item 4. Disciplinary History
Do you or your financial professionals have legal or disciplinary history?
Evermay and our IARs have no legal or disciplinary history. Visit https://www.investor.gov/CRS for a free and simple search tool to research us and our financial professionals.
| Questions to ask us: • As a financial professional, do you have any disciplinary history? For what type of conduct? |
Item 5. Additional Information
You may contact us to discuss your financial needs, request current or additional information or to obtain a copy of the Client Relationship Summary at info@evermaywealth.com or 703.822.5696.
| 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? |