What Is a Form CRS?

So you just got a piece of paperwork in the mail labeled Form CRS, and you’re curious what it’s all about. Essentially, this form helps us be as transparent as possible with our clients. Of course, that seems like a simple explanation for such a detailed form.

Why am I receiving a Form CRS?

Government regulators—the Securities and Exchange Commission (SEC), specifically—require anyone handling investments on behalf of retail investors to provide paperwork with the details of that relationship. Overall, the SEC says its policy is:

designed to enhance the quality and transparency of retail investors’ relationships with investment advisers and broker-dealers, bringing the legal requirements and mandated disclosures in line with reasonable investor expectations, while preserving access (in terms of choice and cost) to a variety of investment services and products.

More specifically, registered independent advisers (as well as representatives of broker-dealers) must provide a document to help investors decide whether to:

  • Establish a relationship with the firm;
  • Engage a particular firm or individual; or
  • Terminate or switch a relationship or service.

That document is the Form CRS. Financial firms must send you this form:

  • Prior to, or at the same time as, any recommendation or engagement;
  • Any time there are material changes to the language in the Form CRS for existing clients and accounts;
  • For certain account changes, such as an IRA rollover.

The Form must also be posted prominently on the organization’s website. You can find Bogart Wealth’s Form CRS here.

What information is included in a Form CRS?

These forms must be concise—no more than two pages for an independent advisor, like Bogart Wealth, or four pages for firms with more complex registrations. They must also be written in an easy-to-understand manner.

Each form must include:

  • The firm’s name.
  • How the firm is registered.
  • The date of the relationship summary.
  • Types of services offered (for example, managing investments, advising on investments, or both).
  • Any material limitations on services offered.
  • References and links to helpful information.
  • The fees charged and how those fees are assessed.
  • The legal obligations of the financial firms and the professional standards they operate under.
  • Details around how the firm makes money.
  • Explanation of any potential conflicts of interest.
  • Contact details if you want or need more information.

Bogart Wealth is proud to be a fee-only fiduciary advisor. You can find more details in our own Form CRS.

For More Information

The SEC provides a website to help you learn more about Form CRS. You can also use it to search for information about different firms and individuals. If you have specific questions about the services Bogart Wealth offers or our Form CRS, contact Bogart Wealth.

Please remember that past performance is no guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Bogart Wealth, LLC [“Bogart Wealth”]), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level (s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Bogart Wealth. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Bogart Wealth is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Bogart Wealth’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request or at bogartwealth.com

Please Note: Bogart Wealth does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Bogart Wealth’s web site or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.
Please Remember: If you are a Bogart Wealth client, please contact Bogart Wealth, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services.  Unless, and until, you notify us, in writing, to the contrary, we shall continue to provide services as we do currently.
Please Also Remember to advise us if you have not been receiving account statements (at least quarterly) from the account custodian.

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