Who we are
Wilson & Boucher Capital Management, LLC (referred to as “we,” “our,” “us,” or “Wilson & Boucher”),
has been registered as an investment advisor since February 2005. Our principals are James Boucher and
Benjamin Wilson.
Services we offer
For financial planning, the topics reviewed include assets, liabilities, cash flow, estate planning, income,
expenses, retirement planning, life expectancy and taxes.
We offer general investment advice to our clients. This includes asset allocation, stock selection, and
ongoing portfolio review. Investment portfolios are designed to meet your specific risk tolerance, time
horizon, liquidity needs and investment objectives. Generally, this is done by gathering detailed
information from each client and carefully monitoring each portfolio's asset allocation.
You may place restrictions on the types of investments that we make in your account.
We do not provide portfolio management services to a wrap fee program.
Assets under management
As of December 31, 2019, we manage assets of $161.1 million on a discretionary basis. We do not
manage assets on a non-discretionary basis.
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Investment Management Services
Fees for investment management services are calculated as a percentage of assets under management.
These fees are billed quarterly in advance, based on the assets under management as of the last day of the
previous calendar quarter. Our standard fee schedule is:
Account ValueAnnual Fee
On the first $500,0001.20%
On the next $500,0001.10%
Assets over $1,000,0001.00%
Fees are negotiated based on the size and complexity of the portfolio to be managed.
You may provide authorization for us to deduct our fees directly from your investment account.
Important information about the deduction of management fees:
· You provide authorization for us to pull fees when you sign our client contract.
· You will receive a detailed invoice each quarter which outlines our fees and how they are
calculated at the same time we request payment from the custodian.
· You will receive a statement from your custodian which shows your all transactions in your
account, including the deduction of our fees.
· You are responsible for reviewing the accuracy of the fees being billed, as the custodian will not
do so.
You may elect to pay by check rather than having us deduct payment directly from your account.
If you would like to end our advisory relationship, you may do so by providing 30 days written notice.
We will prorate the advisory fees received through the termination date and send you a refund of the
prepaid, unearned portion of your fee. We process refund payments at the end of each month and will
send you a check or refund your investment account. In either case we will provide a final invoice
detailing the calculation of the refund.
Financial Planning
Financial planning services are provided for an hourly fee of $200. As an alternative, we may negotiate a
flat fee. Generally the flat fee will range from $1,000 - $2,000. We request that you pay a deposit of 20%
of the estimated fee when you engage us to provide services. You will receive a final invoice upon
completion of the financial plan that is payable upon receipt. You may pay for financial planning services
by check.
The complexity of the plan is used to help negotiate financial planning fees.
You may cancel our financial planning agreement at any time by providing written notice. Upon
cancellation, we will present you with an invoice for time spent. We will provide a refund if the deposit
is greater than the invoice amount. If additional fees are due from you, payment is due upon receipt of the
invoice.
We have a conflict of interest. When you implement the financial plan through us, we receive the
customary fees as disclosed in the following section. You are not required to employ us to implement the
financial plan, or implement the plan, or any portion of it, at all.
Other Costs Involved
In addition to our advisory fee shown above, you are responsible for paying fees associated with investing
for your account. These fees include:
· mutual fund loads (if applicable). These charges are paid to brokers as a form of commission.
· management fees for ETFs and mutual funds. These are fees charged by the managers of the ETF
or mutual fund and are a portion of the expenses of the ETF or mutual fund.
· brokerage costs and transaction fees for any securities trades. These are generally charged by
your custodian and/or executing broker.
· bid-ask spread for fixed income transactions.
Additional information about brokerage costs and what is provided by brokers can be found in “Item 12:
Brokerage Practices.”
We do not receive compensation for the sale of securities or other investment products.
We believe the fees mentioned above are competitive; however you may be able to obtain similar services
from other sources at a lower price.
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Generally, we provide advice to individuals, trusts and pension plans.
Generally we require that you maintain $250,000 under management with us. However, we may waive
that minimum at our sole discretion.
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Clients complete a detailed questionnaire which becomes the basis for constructing an investment
portfolio specific to their particular needs. We use independent research to assess investment strategies
and investments such as common stock, exchange traded funds, mutual funds, fixed income, etc.
We generally do not engage in active trading strategies. For normal equity investing, the volatility of the
market causes the value of equity securities to move higher and lower. Equity investing also involves the
possible loss of principal. Fixed income securities are subject to default and interest rate risks. We
manage fixed income interest rate risk by developing laddered maturities with individual bond and/or CD
holdings.
All investments involve different degrees of risk. You should be aware of your risk tolerance level and
financial situations at all times. We cannot guarantee the successful performance of an investment and
we are expressly prohibited from guaranteeing accounts against losses arising from market conditions.
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Registered investment advisors are required to disclose any material facts regarding any legal or
disciplinary actions that would be material to your evaluation of the investment advisor and each
investment advisor representative providing investment advice to you. We have no information of this
type to report.
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As a registered investment advisor, we are required to disclose when we, or any of our principals, have
any other financial industry affiliations. Neither Wilson & Boucher nor any of our principals have
outside financial industry affiliations.
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TRANSACTIONS ANDPERSONALTRADINGCode of Ethics
We have adopted a set of enforceable guidelines (Code of Ethics), which describes unacceptable conduct by
Wilson & Boucher and our associated persons. Summarized, this Code of Ethics prohibits us from:
· placing our interests before yours,
· using non public information gathered when providing services to you for our own gains, or
· engaging in any act, practice or course of business that is, or might be considered, fraudulent,
deceptive, manipulative, or in violation of any applicable law, rule or regulation of a
governmental agency.
Please contact us if you would like to receive a full copy of this Code of Ethics.
Personal Trading for Associated Persons
We may buy or sell some of same securities for you that we already hold in our personal account. We
may also buy for our personal account some of the same securities that you already hold in your account.
It is our policy not to permit our associated persons (or their immediate relatives) to trade in a way that
takes advantage of price movements caused by your transactions.
We may restrict trading for a particular security for our accounts or those of our associated person if there
is a pending trade in that security in a client account. Trades for our accounts (and those of our associated
persons) will be placed as part of a block trade with client trades, or individually after client trades have
been completed. Additional information about block trades is provided in “Item 12: Brokerage
Practices.” When our trades are placed after our client trades, we may receive a better or worse price than
that received by the client.
All persons associated with us are required to report all personal securities transactions to us quarterly.
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The Custodian and Brokers We Use
We do not maintain custody of your assets that we manage, although we may be deemed to have custody
of your assets if you give us authority to withdraw assets from your account (see “Item 15: Custody”).
Your assets must be maintained in an account at a “qualified custodian,” generally a broker/dealer or
bank.
We may recommend that our clients use Charles Schwab & Co., Inc. (“Schwab”), a registered
broker/dealer, member SIPC, as the qualified custodian. We are independently owned and operated and
are not affiliated with Schwab. Schwab will hold your assets in a brokerage account and buy and sell
securities when we instruct them to. Even though your account is maintained at Schwab, we can still use
other brokers to execute trades for your account as described below (see “Your Brokerage and Custody
Costs”).
We may, as an alternative, recommend that our clients use TD Ameritrade as the qualified custodian. TD
Ameritrade is a discount broker-dealer independent of and unaffiliated with Wilson & Boucher and there
is no employee or agency relationship between TD Ameritrade and us. TD Ameritrade will hold your
assets in a brokerage account and buy and sell securities when we instruct them to.
Wilson & Boucher participates in the institutional advisor program (the “Program”) offered by TD
Ameritrade Institutional. TD Ameritrade Institutional is a division of TD Ameritrade Inc., member
FINRA/SIPC (“TD Ameritrade “). TD Ameritrade offers to independent investment advisors services
which include custody of securities, trade execution, clearance and settlement of transactions. We receive
some benefits from TD Ameritrade through our participation in the Program. Please see “Item 14: Client
Referrals and Other Compensation” for additional information.
While we recommend that you use one of the above as your custodian/broker, you will decide whether to
do so and will open your account by entering into an account agreement directly with them. We do not
open the account for you, although we may assist you in doing so.
How We Select Brokers/Custodians
We seek to recommend a custodian/broker who will hold your assets and execute transactions on terms
that are, overall, most advantageous when compared to other available providers and their services. We
consider a wide range of factors, including, among others:
· Combination of transaction execution services and asset custody services (generally without a
separate fee for custody)
· Capability to execute, clear, and settle trades (buy and sell securities for your account)
· Capability to facilitate transfers and payments to and from accounts (wire transfers, check
requests, bill payment, etc.)
· Breadth of available investment products (stocks, bonds, mutual funds, exchange-traded funds
(ETFs), etc.)
· Availability of investment research and tools that assist us in making investment decisions
· Quality of services
· Competitiveness of the price of those services (commission rates, margin interest rates, other fees,
etc.) and willingness to negotiate the prices
· Reputation, financial strength, and stability
· Prior service to us and our other clients
· Availability of other products and services that benefit us, as discussed below (see “
Products and
Services Available to Us From Schwab”)
Your Brokerage and Custody Costs
For our clients’ accounts that Schwab maintains, Schwab generally does not charge you separately for
custody services but is compensated by charging you commissions or other fees on trades that it executes
or that settle into your Schwab account. In addition to commissions, Schwab charges you a flat dollar
amount as a “prime broker” or “trade away” fee for each trade that we have executed by a different
broker-dealer but where the securities bought or the funds from the securities sold are deposited (settled)
into your Schwab account. These fees are in addition to the commissions or other compensation you pay
the executing broker-dealer. Because of this, in order to minimize your trading costs, we have Schwab
execute most trades for your account. We have determined that having Schwab execute most trades is
consistent with our duty to seek “best execution” of your trades. Best execution means the most favorable
terms for a transaction based on all relevant factors, including those listed above (see “
How We Select
Brokers/Custodians”).
Products and Services Available to Us From Schwab
Schwab Advisor Services™ (formerly called Schwab Institutional®) is Schwab’s business serving
independent investment advisory firms like us. They provide us and our clients with access to its
institutional brokerage— trading, custody, reporting, and related services—many of which are not
typically available to Schwab retail customers. Schwab also makes available various support services.
Some of those services help us manage or administer our clients’ accounts, while others help us manage
and grow our business. Schwab’s support services generally are available on an unsolicited basis (we
don’t have to request them) and at no charge to us. Following is a more detailed description of Schwab’s
support services:
Services That Benefit You.Schwab’s institutional brokerage services include access to a broad range of investment products,
execution of securities transactions, and custody of client assets. The investment products available
through Schwab include some to which we might not otherwise have access or that would require a
significantly higher minimum initial investment by our clients. Schwab’s services described in this
paragraph generally benefit you and your account.
Services That May Not Directly Benefit You.Schwab also makes available to us other products and services that benefit us but may not directly benefit
you or your account. These products and services assist us in managing and administering our clients’
accounts. They include investment research, both Schwab’s own and that of third parties. We may use
this research to service all or a substantial number of our clients’ accounts, including accounts not
maintained at Schwab. In addition to investment research, Schwab also makes available software and
other technology that:
· Provide access to client account data (such as duplicate trade confirmations and account
statements)
· Facilitate trade execution and allocate aggregated trade orders for multiple client accounts
· Provide pricing and other market data
· Facilitate payment of our fees from our clients’ accounts
· Assist with back-office functions, recordkeeping, and client reporting
Services That Generally Benefit Only Us.Schwab also offers other services intended to help us manage and further develop our business enterprise.
These services include:
· Educational conferences and events
· Consulting on technology, compliance, legal, and business needs
· Publications and conferences on practice management and business succession
· Access to employee benefits providers, human capital consultants, and insurance providers
Schwab may provide some of these services itself. In other cases, it will arrange for third-party vendors to
provide the services to us. Schwab may also discount or waive its fees for some of these services or pay
all or a part of a third party’s fees. Schwab may also provide us with other benefits, such as occasional
business entertainment of our personnel.
We use a variety of services from Schwab including security research sources, trading fee processing,
educational conferences and client servicing.
Aggregation of Orders
There are occasions on which portfolio transactions will be executed as part of concurrent authorizations
to purchase or sell the same security for another client or one or more of our associated persons.
We may choose to block (aggregate) trades for your account with those of other client accounts and
personal accounts of persons associated with Wilson & Boucher. When we place a block trade, all
participants included in the block receive the same price per share on the trade. The price is calculated by
averaging the price of all of the shares traded. Due to the averaging of price over all of the participating
accounts, aggregated trades could be either advantageous or disadvantageous. Commission costs are not
averaged. You will pay the same commission whether your trade is placed as part of a block or on an
individual basis. The objective of the aggregated orders will be to allocate the executions in a manner
that is deemed equitable to the accounts involved.
Soft Dollars
“Soft dollars” are typically generated when an investment advisor enters into an agreement with an
executing broker to receive a portion of the commissions generated by the advisor’s client trades. The
soft dollars are allocated to the investment advisor and can then be used to purchase items or services.
The investment advisor has a fiduciary duty to its clients to obtain best execution, on an overall basis, for
any securities transactions.
We do not use soft dollars as described above. However, the receipt of goods and/or services from a third
party in connection with providing advice to clients could be seen as “soft dollars.” The additional
services we receive from TD Ameritrade, as disclosed in Item 14 below, and from Schwab, as disclosed
in the section entitled “Products and Services Available to Us From Schwab” above, would fall under this
description of soft dollars.
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Investment Management
Jim Boucher, Portfolio Manager and Ben Wilson, Portfolio Manager continuously review investment
portfolios. Asset allocations are reviewed and adjusted, as needed, for each account.
We provide written quarterly reports to you. These reports contain the following information:
· Cover letter about current issues
· Portfolio Appraisal
· Portfolio Performance Summary
· Client Billing Statement
On an annual basis we also provide our privacy policy and either this Part 2 or a statement of the material
changes since the last filing of the Part 2.
Financial Planning
Financial plans are reviewed at client request. We recommend that you have a review done at least
annually. Reviews are performed by Jim Boucher, Portfolio Manager and Ben Wilson, Portfolio
Manager.
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Other Compensation
TD AmeritradeAs disclosed in “Item 12: Brokerage Practices,” we participate in TD Ameritrade’s institutional customer
program and we may recommend that clients use TD Ameritrade for custody and brokerage services.
There is no direct link between our participation in the program and the investment advice it gives to you,
although we receive economic benefits through our participation in the program that are typically not
available to TD Ameritrade retail investors. These benefits include the following products and services
(provided without cost or at a discount):
· receipt of duplicate client statements and confirmations;
· research related products and tools;
· consulting services;
· access to a trading desk serving investment advisor participants;
· access to block trading (which provides the ability to aggregate securities transactions for
execution and then allocate the appropriate shares to client accounts);
· the ability to have advisory fees deducted directly from client accounts;
· access to an electronic communications network for client order entry and account information;
· access to mutual funds with no transaction fees and to certain institutional money managers; and
· discounts on compliance, marketing, research, technology, and practice management products or
services provided to Wilson & Boucher by third party vendors.
Some of the products and services made available by TD Ameritrade through the program may benefit
Wilson & Boucher but may not benefit its client accounts. These products or services may assist us in
managing and administering client accounts, including accounts not maintained at TD Ameritrade. The
benefits received by Wilson & Boucher or its personnel through participation in the program do not
depend on the amount of brokerage transactions directed to TD Ameritrade. As part of its fiduciary duties
to clients, we endeavor at all times to put the interests of our clients first. Clients should be aware,
however, that our receipt of economic benefits in and of itself creates a potential conflict of interest and
may indirectly influence our choice of TD Ameritrade for custody and brokerage services.
Charles Schwab & Co., Inc.We receive an economic benefit from Schwab in the form of the support products and services it makes
available to us and other independent investment advisors whose clients maintain their accounts at
Schwab. These products and services, how they benefit us, and the related conflicts of interest are
described above (see “Item 12: Brokerage Practices”). The availability to us of Schwab’s products and
services is not based on us giving particular investment advice, such as buying particular securities for our
clients.
Client Referrals
We do not directly or indirectly compensate anyone for client referrals.
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If you give us authority to deduct our fees directly from your separately managed account, we have
custody of those assets. In order to avoid additional regulatory requirements in these cases, we follow the
procedures outlined in “Item 5: Fees and Compensation.” You will also receive quarterly statements
directly from custodian of the account that details all transactions in the account. They will be sent to the
email or postal mailing address you provided to the custodian. You should carefully review those
statements promptly when you receive them. For accounts where the client has a standing letter of
authorization that allows us to transfer money between accounts specified by the client, we are also
deemed to have custody. We follow the guidance outlined in the Investment Adviser Association no-
action letter dated February 21, 2017, for these accounts. A copy of this letter is available upon request.
At no time do we accept physical custody of your assets.
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As one of the conditions of managing your account, you are required to provide discretionary authority
for us to manage your assets. Discretionary authority means that you are giving us a limited power of
attorney to place trades on your behalf. This limited power of attorney does not allow us to withdraw
money from your account, other than advisory fees if you agree to give us that authority.
You grant us discretionary authority by completing the following items:
· Sign a contract with us that provides a limited power of attorney for us to place trades on your
behalf. Any limitations to the trading authorization will be added to this agreement.
· Provide us with discretionary authority on the new account forms that are submitted to the
broker/dealer acting as custodian for your account(s).
You may place restrictions on the types of securities we trade for your account. Restrictions could
include:
·instructions to hold specific securities. This might occur when the client has a large unrealized
capital gain position or restrictions placed on company stock;;
· instructions to avoid trading in securities that might fall into industries (i.e., tobacco stocks); or
· any other instructions or limitations that are consistent with our investment universe.
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As a matter of policy and as a fiduciary to our clients, we have responsibility for voting proxies for your
portfolio securities consistent with your best economic interests. We maintain written policies and
procedures as to the handling, research, voting and reporting of proxy voting and make appropriate
disclosures about our proxy policies and practices. Our policy and practice includes the responsibility to
monitor corporate actions, receive and vote client proxies and disclose any potential conflicts of interest
as well as making information available to clients about the voting of proxies for their portfolio securities
and maintaining relevant and required records. You may provide direction regarding any particular proxy
solicitation.
You may elect to retain the authority to vote the proxies yourself. In this case you will receive proxies
and other related paperwork directly from your custodian. We will provide guidance about how to vote a
particular proxy solicitation only upon request.
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We do not charge or solicit pre-payment of more than $1,200 in fees per client six months or more in
advance. We have never filed for bankruptcy and are not aware of any financial conditions that are
reasonably likely to impair our ability to meet our contractual obligations to clients.
BROCHURE SUPPLEMENT
ITEM1: COVERSHEET
James B. Boucher
(800) 381-8610
[email protected]
January 20, 2020
This Brochure Supplement provides information about James B. Boucher that supplements the Wilson &
Boucher Capital Management, LLC Brochure. You should have received a copy of that Brochure. Please
contact Ben Wilson, Managing Member at (800) 381-8610 or
[email protected] if you did not
receive Wilson & Boucher Capital Management, LLC’s Brochure or if you have any questions about the
content of this supplement.
Additional information about James B. Boucher is available on the SEC’s website at
www.adviserinfo.sec.gov.
ITEM2: EDUCATIONALBACKGROUND ANDBUSINESSEXPERIENCEJames B. Boucher was born in 1961.
Educational Background
School NameDegreeYearMajor(s)
University of California, BerkeleyBA1984Rhetoric
California State University, HaywardMBA1986Finance Option
California State University, HaywardMPA1987Public Administration
James B. Boucher
Employment Background
Employment Dates:1/2005 – Present
Firm Name:Wilson & Boucher Capital Management, LLC
Type of Business:Investment Advisor
Job Title & Duties:Managing Member. Duties include portfolio management, financial planning,
investment research, compliance supervision, business development and general
business administrative functions.
Employment Dates:12/2006 – 5/2010
Firm Name:Life Force Technologies, LLC
Type of Business:Privately-held Pharmaceutical Company
Job Title & Duties:Chief Financial Officer. Budgeting, business plan development and consulting.
Employment Dates:11/1998 – 3/2005
Firm Name:SDR Capital Management, Inc.
Type of Business:Investment Advisor
Job Title & Duties:Senior Portfolio Manager. Portfolio management, financial planning, investment
research, business development and general business administrative functions.
Employment Dates:6/1996 – 11/1998
Firm Name:The Pacific Bank, N.A.
Type of Business:Bank
Job Title & Duties:Marketing Manager and Investment Sales Division Administrative Manager.
Managing the marketing functions for a niche private and mid-business bank.
Also developed compliance procedures for the bank's investment sales division.
Employment Dates:5/1987 – 6/1996
Firm Name:Wells Fargo Bank
Type of Business:Bank
Job Title & Duties:Vice President and Finance Manager. Budgeting, forecasting, and strategic
planning.
Professional Designations
Certified Financial Planner (CFP) - 2006
The CFP designation is issued by the Certified Financial Planner Board of Standards, Inc. In order to
receive a CFP designation, the candidate must have a bachelor’s degree or higher from an accredited
college or university and have 3 years of full-time personal financial planning experience. In addition, the
candidate must complete a CFP board-registered program or hold one of the following: CPA, ChFC,
Chartered Life Underwriter (CLU), CFA, Ph.D. in business or economics, Doctor of Business
Administration or attorney’s license. Once the designation is earned, the CFP must complete 30 hours of
continuing education every 2 years.
James B. Boucher
ITEM3: DISCIPLINARYINFORMATIONRegistered investment advisors are required to disclose any material facts regarding any legal or
disciplinary actions that would be material to your evaluation of each investment advisor representative
providing investment advice to you. There is no information of this type to report.
ITEM4: OTHERBUSINESSACTIVITIESMr. Boucher is a Reserve Police Officer with the Walnut Creek Police Department and spends
approximately 20 hours per month acting in that capacity. His duties, which are generally not performed
during securities trading hours, include general law enforcement and security at public events.
Beginning 10/26/2013 to current, Jim Boucher serves as the Secretary and Treasurer on the Board of
Directors for both Aurora Medical, Inc. (a start-up biotechnology company) and Risoftdev, Inc. (a start-up
technology company) located in Moraga, California and incorporated in Wyoming. He also serves as
Chief Financial Officer for both entities. Limited duties include financial reporting, maintaining company
minutes and records, and consulting.
ITEM5: ADDITIONALCOMPENSATIONMr. Boucher does not receive any economic benefit from any non-client for providing advisory services.
ITEM6: SUPERVISIONBen Wilson, Portfolio Manager, is responsible for the supervision of Mr. Boucher. His telephone number
is (800) 381-8610.
BROCHURE SUPPLEMENT
ITEM1: COVERSHEET
Benjamin D. Wilson
85 Bolinas Road, Suite 16
Fairfax, CA 94930
(800) 381-8610
[email protected]
January 20, 2020
This Brochure Supplement provides information about Benjamin D. Wilson that supplements the Wilson
& Boucher Capital Management, LLC Brochure. You should have received a copy of that Brochure.
Please contact James B. Boucher, Managing Member at (800) 381-8610 or
[email protected] if
you did not receive Wilson & Boucher Capital Management, LLC’s Brochure or if you have any
questions about the content of this supplement.
Additional information about Benjamin D. Wilson is available on the SEC’s website at
www.adviserinfo.sec.gov.
ITEM2: EDUCATIONALBACKGROUND ANDBUSINESSEXPERIENCEBenjamin D. Wilson was born in 1970. He received an undergraduate degree in Economics from the
University of California, Davis in 1992, and went on to obtain a Masters in Resource Economics from
Colorado State University in 1996.
Employment Background
Employment Dates:1/2005 - Present
Firm Name:Wilson & Boucher Capital Management, LLC
Type of Business:Investment Advisor
Job Title & Duties:Portfolio Manager. Duties include portfolio management, financial planning,
investment research, business development and general business administrative
functions.
Benjamin D. Wilson
Employment Background (continued)Employment Dates:10/2000 – 3/2005
Firm Name:SDR Capital Management, Inc.
Type of Business:Investment Advisor
Job Title & Duties:Senior Portfolio Manager. Portfolio management, financial planning, investment
research, and business development.
Employment Dates:6/1997 – 9/2000
Firm Name:Adventure Associates, Inc.
Type of Business:Worldwide Corporate Training and Team Building
Job Title & Duties:Chief Financial Officer. Financial management, corporate training and program
development.
Professional Designations
Certified Financial Planner (CFP) - 2009
The CFP designation is issued by the Certified Financial Planner Board of Standards, Inc. In order to
receive a CFP designation, the candidate must have a bachelor’s degree or higher from an accredited
college or university and have 3 years of full-time personal financial planning experience. In addition, the
candidate must complete a CFP board-registered program or hold one of the following: CPA, ChFC,
Chartered Life Underwriter(CLU), CFA, Ph.D. in business or economics, Doctor of Business
Administration or attorney’s license. Once the designation is earned, the CFP must complete 30 hours of
continuing education every 2 years.
ITEM3: DISCIPLINARYINFORMATIONRegistered investment advisors are required to disclose any material facts regarding any legal or
disciplinary actions that would be material to your evaluation of each investment advisor representative
providing investment advice to you. There is no information of this type to report.
ITEM4: OTHERBUSINESSACTIVITIESMr. Wilson is not involved in any other business activities.
ITEM5: ADDITIONALCOMPENSATIONMr. Wilson does not receive any economic benefit from any non-client for providing advisory services.
Benjamin D. Wilson
ITEM6: SUPERVISIONJames B. Boucher, Managing Member, is responsible for the supervision of Mr. Wilson. His telephone
number is (800) 381-8610.
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Open Brochure from SEC website