Biltmore Wealth Management, LLC
Form CRS –Client Relationship Summary February 2022
Introduction
Our firm, Biltmore Wealth Management, LLC, is an investment adviser registered with the Securities and Exchange Commission. We feel that it is important for you to understand how advisory and brokerage services and fees differ in order to determine which type of account is right for you. There are free and simple tools available to research firms and financial professionals at www.investor.gov/CRS, which also provides educational materials about investment advisers, broker-dealers, and investing.
What investment services and advice can you provide me?
We are a registered investment adviser that offers investment advisory services to retail investors.Our advisory services includeInvestmentManagement.If you open an advisory account with our firm, we’ll meet with you to understand your current financial situation, existing resources, goals, and risk tolerance. Based on what we learn, we’ll recommend a portfolio of investments that is monitored at least quarterly, and if necessary, rebalanced to meet your changing needs, stated goals and objectives. We’ll offer you advice on a regular basis and contact you at least annually to discuss your portfolio.
Our agreement designates that we are allowed to buy and sell investments in your account without asking you in advance (“discretion”). Certain legacy clients have agreements in place that allows us only to buy and sell investments in your account after receiving your permission (“non-discretion”), however, we longer open new client accounts on a non-discretionary basis. If you have anon-discretionary relationship with our firm, you make the ultimate decision regarding the purchase or sale of investments. Any limitations will be described in the signed advisory agreement. We will have discretion or non-discretion until the advisory agreement is terminated by you or our firm.
We do not restrict our advice to limited types of products or investments.
Our firm does not impose requirements for opening and maintaining accounts or otherwise engaging us.
Additional information about our advisory services is located in Item 4 of our Firm Brochure, which is available online at https://adviserinfo.sec.gov/firm/summary/151365
What fees will I pay?
You will be charged an ongoing quarterly fee based on the value of the investments in your account. Our Investment Management service fee schedule ranges from 0.80% to 1.35% depending on the value of the investments in your account. The more assets you have in your advisory account, the more you will pay us. We therefore have an incentive to increase the assets in your advisory account in order to increase our fees. The amount you pay will depend, for example, on the services you receive and the amount of assets in your account. Our firm’s fees will be automatically deducted from your advisory account, which will reduce the value of your advisory account.
The broker-dealer that holds your assets may charge you a transaction fee depending on the security type when we buy or sell an investment for you. The broker-dealer’s transaction fees are in addition to our firm’s fees for our Investment Management service.
You may also pay charges imposed by the broker-dealer holding your accounts for certain investments and maintaining your account. Some investments, such as mutual funds, index funds, and exchange traded funds charge additional fees that will reduce the value of your investments over time.
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.
Additional information about our fees is located in Item 5 of our Firm Brochure, which is available online at https://adviserinfo.sec.gov/firm/summary/151365.
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:
Our firm’s financial professionals include licensed insurance agents who sell insurance products for a commission. They have an incentive to recommend insurance products to you in order to increase their compensation.
Additional information about our conflicts of interest is located in Item 10 of our Firm Brochure, which is available online at https://adviserinfo.sec.gov/firm/summary/151365.
How do your financial professionals make money?
Our financial professionals are compensated based on the revenue our firm earns from their advisory services or recommendations, the amount of client assets they service, and the time and complexity required to meet a client’s needs.
Do you or your financial professionals have legal or disciplinary history?
No, our firm and financial professionals do not have any legal and disciplinary history to disclose. Visit Investor.gov/CRS for a free and simple search tool to research our firm and our financial professionals.
Additional Information
You can find additional information about our firm’s investment advisory services on the SEC’s website at www.adviserinfo.sec.gov by searching CRD #151365. You may also contact our firm at 480-998-1819 to request a copy of this relationship summary and other up-to-date information.
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 those qualifications mean?
• Help me understand how these fees and costs may 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?
• How might your conflicts of interest affect me, and how will you address them?
• As a financial professional, do you have any disciplinary history?
• For what type of conduct?
• 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?
Max Rossiter is a native of Gilbert, AZ and a recent graduate of Arizona State University where he earned a Bachelor of Arts degree in Public Service and Public Policy from the W.P. Carey School of business. He comes to the team as a Financial Advisor Associate, focusing on providing financial guidance for the professional and private clients.
Jodi is originally from Redlands, California. She moved to Arizona in 1996 after receiving her Bachelor of Arts degree in Psychology from the University of Redlands. Her first job out of college happened to be as a receptionist at a small Broker/Dealer in Phoenix, and her interest in the world of finance was born. From receptionist, she moved on to larger firms and earned various securities licenses, working in Customer Service, Operations, Compliance, and finally, Trading.
Tim Carpenter started his financial career with Dean Witter 30 years ago. Tim serves as the Portfolio Manager and cornerstone of our Biltmore Wealth Management team. Tim’s primary focus on portfolio management provides a breadth of expertise and knowledge that enables the firm to manage risk and achieve financial goals for our clients.
Kevin is a native of Buffalo, NY, a graduate of Mercyhurst College (Erie, PA), and has been advising individual investors since 1999. Kevin focuses on providing financial strategies to the professional athlete.