WiserAdvisor (WA) sponsors an electronic referral and listing service through its website located at http://www.wiseradvisor.com (Website). Through the Website, WA provides a place where individuals (Users) can research and be contacted by qualified advisors, such as financial advisors, financial planners, accountants, investment advisors, and insurance professionals (collectively, Advisors). There is no charge to Users who use WAís Website, and Advisors pay a per-lead fee for each referral that is received through the Website.
The services WA provides (WA Services) generally are limited to:
(i) obtaining the names and information of persons with credentials that appear to qualify;
(ii) providing a web-based platform where a User can obtain a list of Advisors who are willing to contact the User with regards to financial advice and related services;
(iii) collecting the fees from Advisors for each lead that the Advisor receives; and (iv) conducting follow-ups with Users and Advisors to verify satisfaction with Website.
For WA services, WA charges its Advisors an annual membership subscription, as well as a flat fee for each qualified lead (containing User contact information) that it sends to an Advisor. The fees are determined by the services that the lead chooses and those which the Advisor offers, as well as the minimum portfolio size required by the Advisor.
Currently, the fees charged to Advisors are as follows:
The Advisors are billed at the end of each month for the total number of leads that they received during that month. The terms and conditions that Advisors agree to when they join enable WA to modify its pricing structure at its discretion. WA may pay a percentage of its fees to third parties who sponsor the Website, who provide advertising space for the WA services, or who allow links to the Website on their websites.
There are no charges for Users to use the WA Services.
WA requires that all Advisors have obtained the proper licensing from the SEC, FINRA or other regulatory body.
WA does not provide investment supervisory or management services to Users. WA does not accept investment or brokerage discretion from any client. As a result, WA does not receive nor does it vote proxies for any Userís securities. WA also does not have custody over any Userís assets. Although it is not expected to occur, if a User should ask WA for a recommendation of a broker or a custodian, WA will provide the names of one or more possible providers of the services in which the User is interested.
WA may enter into agreements with third parties, including broker-dealers, custodians and other providers of financial services, which would allow WA to include a link to its Website from the websites of those third parties. Those agreements may authorize WA to compensate the sponsors of those sites by paying them fees that are based on the amount WA earns based on how many Users use the service from those links. Other than such arrangement, WA does not have relationships with broker-dealers or custodians and does not accept products, services, or research from any broker-dealer.