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.
WA offers three services to Users. One service allows Users to use WAís proprietary computer-matching software program directly in order to generate a list of one to five Advisors which satisfy the Userís search criteria. The second service allows WA manually to select which Advisors receive a Userís contact information based on criteria selected by the User. The third service allows User's to search for advisors using a zip code or city and state. WA does not recommend any specific Advisor to Users; it provides Users with one or more Advisors who meet the Userís criteria. Users must evaluate and choose on their own the Advisor with which they would like to work after reviewing the information provided by WA about the Advisor. WA is not responsible for determining or reviewing any advice an Advisor gives to a User.
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:
- $40-250 for Portfolio Management
- $40-250 for Retirement Planning
- $40-250 for Estate Planning
- $40-250 for 401K Rollover
- $40-250 for Educational Planning
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.
12150 Monument Drive, Suite 400
Fairfax, VA 22033