Investment Advisory

Scott Weglarz is a Registered Investment Advisor, registered with the Pennsylvania Securities Commission. As an RIA, Scott voluntarily accepts the responsibility of a fiduciary for his clients. According to Black's Law Dictionary, "fiduciary" means a relationship in which one may not exert influence or pressure upon the other, take selfish advantage of his trust, or deal with the subject matter of the trust in such a way as to benefit himself and prejudice the other... business shrewdness, hard bargaining, and astuteness to take advantage of the forgetfulness of negligence of another being totally prohibited..." In other words, to be a fiduciary means the duty to put your clients' interests ahead of your own.

As a point of fact, Investment Advisors are regulated by the Investment Advisors Act of 1940 and are legally required to assume the duties of fiduciary for their clients thereby putting the client's interest first and providing the highest possible standards of suitability and must recommend the most appropriate investments. Many brokers can and do act like they are on the client's side but legally and actually, they represent their firms. Brokers who can charge annual fees for their services are required but the SEC to issue consumer warnings that state, in part: "Your account is a brokerage account, not an advisory account. Our interest may not always be the same as yours."

Penn Group's feeling is that all true advisors must accept fiduciary responsibility. If this were to happen, it would force some people and industries out of the "advice" business, revealing them as the product distributors they really are, rather than the providers of objective financial advice they purport to be.

As an investment advisor we will manage your account for a percentage of the assets under our management. You will receive quarterly statements and reviews scheduled at least annually. Your portfolio performance will be compared to benchmark indices and the competitive universe of similar investments. You will receive a report listing the alphas, betas, r-squareds and Sharpe ratios for your investments and, more importantly, an explanation of what these measurements mean to you.

The fees are due at the end of each quarter and you are free to terminate the agreement at any time. Fee-based asset management services assure that the advisors compensation will be absolutely, arithmetically linked to your portfolio results. We prosper only to the extent that you prosper. And when you hurt, we hurt, not just emotionally, but financially. Thus we will do our utmost to help you reach your objectives.