Being a Registered Investment Advisor (RIA) means that we are registered directly with the Securities and Exchange Commission (SEC). Both, RIAs and IARs (Investment Advisor Representatives) have a fiduciary duty to their clients, meaning they have an obligation to provide suitable investment advice and to always act in clients’ best interests. Under Avid's prior structure, NewEdge Advisors (NEA) was the RIA and Avid advisors were IARs under the NEA RIA. NEA's structure has multiple firms under its RIA umbrella, spanning their obligation to meet the needs of over 120 firms across the US; whereas our new RIA's focus is solely on our clients. By becoming our own RIA, we will now have the Advisors and the Firm under the Avid umbrella, both focused directly on you, our clients.

Since 2020, we have been affiliated with NewEdge Advisors LLC (RIA), previously Goss Advisors. We partnered with NewEdge to provide scale for the regulatory, compliance, and operational support of our business, as we embarked on our journey towards full independence. During our two-year relationship, both firms have grown significantly and worked closely towards fulfilling our aspiration to operate our own RIA. We are now realizing that vision! With this change we will have expanded access to additional financial products, investment solutions and technology platforms, to facilitate a platform that focuses on your evolving needs. We truly believe this last step to full independence will allow us to be in direct alignment with your needs and an opportunity to better serve you at the highest fiduciary level possible.

We know that your needs are complex and we care deeply that our planning and advising can meet the full range of your concerns and financial needs. This change will allow us to bring a platform that focuses on your evolving needs, at a much faster pace with the rapidly changing environment. We are now better positioned to address your unique circumstances and ensure your wealth is a support system that enables you to fully experience life on your terms.

The effective date will be November 1st, 2022. Before that date, you will receive communication from our team of the action needed to change firm management of your accounts.

You will receive an email from our team with next steps to sign your account firm change paperwork from NewEdge Advisors, LLC. to Avid Wealth Partners, LLC. Our team will be proactively communicating and sending reminders to ensure paperwork is signed in a timely manner so we can continue to serve you without interruption.

No. The team you already know will continue seamlessly.

No. Your account numbers will be the same and you will remain with your current custodians (exp. Fidelity, Schwab). As the industry continues to evolve, custodians are required to change as well. In our commitment to continually evolve, this transition gives us a choice of custodians to offer our clients and the advantage to select custodian(s) that align best with their needs. We will go over your custodian options at your next review to ensure you are maximizing your custodian platform value. If you would like to discuss sooner, feel free to schedule a meeting with our team.

Most clients will not experience any change in fees. We have simplified our standard wealth management blended tier fee schedule to reduce the number of tiers. This tier reduction resulted in minimal fee changes and will effect less than 10% of clients. Our services under this fee schedule will continue to include your comprehensive financial planning and advising, and investment management. For additional simplicity, fees will be moved from billing quarterly in advance to monthly. The new schedule can be found on your Wealth Management Agreement. The new schedule and fee comparison has also been provided below as a reference. New Wealth Management Blended Tier Fee Schedule Fee Comparison Reference

No. Clients will continue to use the same software and logins.

Avid Wealth Partners will no longer have access to your accounts to manage or be able to advise on your planning. If forms are signed after the given deadline, transaction and performance history may be lost and irretrievable. We will make every effort to allow you adequate time to review and sign the change forms and address any concerns you may have.

We will continue to provide the same investment management, wealth advising and financial planning services as previously provided. There will be a change to education planning. We will continue to advise on 529 Plan selections, investment allocations and saving goals for education planning, but we will no longer have direct access to your 529 Plans. You will be able to connect your 529 Plan on your RightCapital Plan Website that will give us account viewing access to continue our ongoing advising around your education goals.