What are CRS and ADV-2?

The CRS (Client Relationship Summary) and ADV-2 (Part of the Form ADV) are critical documents that financial advisors must provide to clients. These documents offer in-depth information about your financial advisor's business practices and their responsibilities to you. Understanding them is essential to making informed decisions about whom you entrust with your financial future.

Importance of the CRS Document

The CRS, or Form CRS, acts as a summary of your advisor’s services. It provides clarity on the types of services offered, the fees you will incur, and any potential conflicts of interest that might arise. This document ensures transparency, allowing clients to clearly understand how their advisor operates, which is crucial for building trust.

Diving into the ADV-2

The ADV-2 is a more detailed document compared to the CRS. It includes detailed descriptions of the advisor's business operations, any disciplinary actions, and how they manage conflicts of interest. Understanding the ADV-2 is vital as it informs you about the advisor’s qualifications and suitability for your specific financial needs.

Why These Documents Matter

By thoroughly reviewing these documents, you can gain insights into whether the services align with your financial goals and risk tolerance. They empower you to assess whether the advisor's approach matches your expectations and needs, ensuring a well-informed decision-making process.

How to Leverage This Information

Use the insights from these documents to discuss your financial goals and any concerns with your advisor. Don’t hesitate to ask questions if any part of the CRS or ADV-2 is unclear. This open dialogue is crucial for ensuring that your financial advisor is truly working in your best interest.  Our ADV is in a simple to read font size and in plain English.  Give us a call at either 256-417-4870 or 813-522-4455 and we can show you just how transparent we are!

Mike

Mike Mickels is the President and Chief Compliance Officer of CochranMickels Retirement Specialists, LLC and an avid sporting clay competitor. CochranMickels Retirement Specialists provides personalized planning and investment services to individuals approaching and in retirement. CochranMickels Retirement Specialists, LLC is a registered investment adviser. This platform is solely for informational purposes. Advisory services are only offered to clients or prospective clients where CochranMickels Retirement Specialists, LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. As a registered investment advisory firm, we are restricted from posting, publishing or otherwise disclosing any form of testimonial which is related to our investment advisory services. Links to websites and other resources operated by third parties are provided as information only, and there can be no assurance as to its accuracy, suitability or completeness. CochranMickels Retirement Specialists, LLC does not endorse, authorize or sponsor the content or its respective sponsors and is in no way responsible for third party content, services, products or information, or for the collection or use of information regarding the web site’s users and/or members.