Client Relationship Summary
Item 1. Introduction
Beevav Inc. (“our” or “we”) is an
investment adviser registered with the United States Securities and Exchange Commission (the “SEC”). Brokerage and investment advisory services and fees differ, and it is important that you understand the differences. There are free and simple tools available to research firms and financial professionals at www.investor.gov/CRS, which also provides educational materials about investment advisers, broker-dealers, and investing.
Item 2. Relationships and Services
What investment services and advice can you provide me?
Beevav offers investment advisory services to retail investors only through Beevav interactive platform (website & mobile app). Where selected, we provide investment management services to Individual Retirement Accounts (Traditional, Roth, SEP & SIMPLE IRAs), including selecting, monitoring, and managing the investment menu and portfolios for your account.
You can choose to invest in one of our managed portfolios comprised of ETFs and recommended by our proprietary software based on your reported risk tolerance, financial parameters, and the estimated time of retirement (“discretionary account”), or you may choose to create a custom portfolio from our menu of ETFs (“non-discretionary account”). We review our proprietary software for our managed investment portfolios on a regular basis to ensure that portfolio characteristics adhere to the portfolio’s stated goals. Beevav requires that its clients use Apex Clearing Corporation (“Apex”) as their independent custodian, and for clearing and execution services. There is No ($0) minimum investment requirement to open IRAs (Traditional, Roth, SEP
& SIMPLE) account with Beevav.
Beevav monitors client accounts on a periodic basis using an algorithm. Beevav reviews the curated portfolios, and strategies employed therein, not less than quarterly, to ensure that they are in line with each client’s investment risk and financial parameters and objectives.
Additional information about our advisory services is located in Item 4 of our Form ADV, Part 2 (“Brochure”), which is available online on the SEC’s IAPD database at www.adviserinfo.sec.gov by searching CRD #315917.
· Given my financial situation, should I choose an investment advisory service? Why or why not?
· How will you choose investments to recommend to me?
· What is your relevant experience, including your licenses, education and other qualifications? What do these qualifications mean?
Item 3. Fees, Costs, Conflicts, and Standard of Conduct
What fees will I pay?
For SEP & SIMPLE IRA accounts, we charge fees directly to the plan sponsor, which includes a monthly fee of $5 per active employee. We charge plan participants (IRA Clients) an annual account fee of 0.15% on assets under management (AUM) based on their account balance on the last day of the month, in arrears. We don’t charge a monthly fee to SEP & SIMPLE plan participants (IRA Clients) who have terminated employment with the plan sponsor. Plan participant (IRA Client) fees are non-negotiable.
For Traditional & Roth IRA accounts, we charge IRA clients an annual account fee of 0.15% on assets under management based on their account balance on the last day of the month, in arrears. Fees are non-negotiable.
Due to the nature of the asset-based fees, the more assets there are in a client’s account, the more a client will pay in fees, and Beevav, therefore, has an incentive to encourage clients to increase the assets in their accounts.
Our fee includes most transaction costs & fees paid to Apex (Custodian). Beevav provides a detailed schedule of fees at the time of enrollment. Fees are subject to change at any time with thirty (30) day notice. Issuers of exchange-traded funds (ETFs) purchased for clients charge fees and expenses which will reduce the value of your investments over time.
You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying.
Additional information about our fees is located in item 5 of Beevav’s Brochure, which is also available online at www.adviserinfo.sec.gov by searching CRD #315917 and on our website at https://beevav.com.
· Help me understand how these fees & costs will affect my investments. If I give you $10,000 to invest, how much will go to fees and costs and how much will be invested for me?
What are your legal obligations to me when acting as my investment adviser? How else does your firm make money and what conflicts of interest do you have?
When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the
investment advice, we provide you. An example to help you understand what this means includes Beevav’s representatives may buy or sell ETFs
for themselves that Beevav also recommends to our clients.
· How might your conflicts of interest affect me, and how will you address them?
How do your financial professionals make money?
Our financial professionals receive total compensation consisting of a base salary, equity in Beevav, and variable compensation. They do not receive or accept compensation for the sale of securities or other investment products. Total compensation takes into account the market rate for the role and expertise, overall revenue, new assets, retained assets, contributions to our culture, and business strength.
Item 4. Disciplinary History
Do you or your financial professionals have legal or disciplinary history?
No. Visit www.investor.gov/CRS for a free and simple search tool to research our firm and our financial professionals further.
· As a financial professional, do you have any disciplinary history? For what type of conduct?
Item 5. Additional Information
For more information about our investment advisory services, please see Beevav’s Brochure. You can also request additional, up-to-date information or a copy of this Relationship Summary by calling us at (201) 208-2568.
· Who is my primary contact person? Is he or she a representative of an investment adviser or a broker-dealer?
· Who can I talk to if I have concerns about how this person is treating me?