1-800-927-7190PFS Partners, LLC (“Company”) is an SEC registered investment adviser.
The Company may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. The Company’s web site is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Company’s web site on the Internet should not be construed by any consumer and/or prospective client as Company’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any subsequent, direct communication by the Company with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. A copy of the Company’s current written disclosure Brochure and Form CRS discussing the Company’s business operations, services, and fees is available on this web site and/or from Company upon written request. The Company does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to the Company’s web site or incorporated herein, and takes no responsibility therefor. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.
Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment or investment strategy (including those undertaken or recommended by the Company), will be profitable or equal any historical performance level(s). Neither the Company’s investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if the Company is engaged, or continues to be engaged, to provide investment advisory services. The Company’s registration status does not imply a specific level of skill or training.
Certain portions of the Company’s web site (i.e., newsletters, articles, commentaries, etc.) may contain a discussion of, and/or provide access to, the Company (and those of other investment and non-investment professionals) positions and/or recommendations as of a specific prior date. Due to various factors, including changing market conditions, such discussion may no longer be reflective of current position(s) and/or recommendation(s). Moreover, no client or prospective client should assume that any such discussion serves as the receipt of, or a substitute for, personalized advice from Company, or from any other investment professional. The Company is neither an attorney nor an accountant, and no portion of the web site content should be interpreted as legal, accounting or tax advice.
Please Note: Limitations. Neither rankings nor recognitions by unaffiliated rating services, publications, media, or other organizations, nor the achievement of any professional designation, certification, degree, or license, membership in any professional organization, or any amount of prior experience or success, should be construed by a client or prospective client as a guarantee that the client will experience a certain level of results if the investment professional or the investment professional’s firm is engaged, or continues to be engaged, to provide investment advisory services.
To the extent that any client or prospective client utilizes any economic calculator or similar interactive device contained within or linked to Company’s web site, the client and/or prospective client acknowledges and understands that the information resulting from the use of any such calculator/device, is not, and should not be construed, in any manner whatsoever, as the receipt of, or a substitute for, personalized individual advice from the Company, or from any other investment professional.
Each client and prospective client agrees as a condition precedent to his/her/its access to Company’s web site, to release and hold harmless the Company, its officers, directors, owners, employees and agents from any and all adverse consequences resulting from any of his/her/its actions and/or omissions which are independent of his/her/its receipt of personalized individual advice from the Company.
There Is a Wrong Way to Do the Right Thing
Many of the situations we handle are difficult and often heartbreaking. For as long as I can remember, my father always helped people no matter the circumstances they faced. At its core, it’s the philosophy of serving your fellow man. Over the years, I have lead Precision Financial with the same core values of helping people.
From 2012 to 2016 I guided a Georgia based company and its owner through a potentially devastating financial situation. After pursuing commercial financing and a variety of financial alternatives, I assisted the business owner by finding individuals, whom also happen to be clients of mine, who were in a position to lend him the money.
On the surface this was a great solution. The lenders received their entire principal and the interest promised on the money they loaned. The owner’s business continued operating and jobs were protected. The same lenders funded additional loans to two other entities and were repaid in full with interest.
What I failed to do was provide my former Broker Dealer, LPL Financial, written or oral notice of these transactions. Although an approved outside business activity form was on file with LPL, which I believed covered this nature of business; both LPL Financial and FINRA concluded that I should have provided advance notice of these transactions. Regulators considered these to be private securities transactions. The end result was a permanent bar from associating with any FINRA member firm, in any capacity. Sometimes doing the right thing can cost you.
In this circumstance, focusing on the client’s problem and not the compliance process cost me my brokerage licenses. The decision to accept FINRA’s Letter of Acceptance, Waiver and Consent was a difficult one. The risk to my firm, my professional reputation, consequences to my family and team members came first. Although brokerage business was among the services Precision Financial provided, our cornerstone is Financial Planning and Investment Advisory services. The bar by FINRA in no way affects my ability to act as a Financial Planner or Investment Advisor.
The link below will bring you to FINRA’s BrokerCheck where you can read their disclosure.
https://brokercheck.finra.org/individual/summary/2376943
In the event you should have any questions, please feel free to contact me and my team. We can be reached at 973-927-6300.
Sincerely,
Michael Babyak Jr. II
President
