STRATEGIC EQUITY PORTFOLIO
Part 2B of Form ADV: Brochure Supplement
Colin T. Kelly
10827 S. Western Avenue
Chicago, IL 60643
773-779-1836
Strategic Investment Solutions, Inc.
9501 W 144th Place
Orland Park, Illinois 60462
03/30/2013
This brochure supplement provides information about Colin T. Kelly that
supplements the Strategic Investment Solutions, Inc. (SIS) brochure. You should
have received a copy of that brochure. Please contact Thomas E. King 708-6458820 if you did not receive Strategic Investment Solutions, Inc.'s brochure or if
you have any questions about the contents of this supplement.
Additional information about Colin T. Kelly is available on the SEC’s website at
www.adviserinfo.sec.gov
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STRATEGIC EQUITY PORTFOLIO
ITEM 2 EDUCATIONAL BACKGROUND AND BUSINESS EXPERIENCE
Full Legal Name: Colin T. Kelly
Born: 1965
Education
•
University of Illinois, Chicago; BS, Finance; 1988
Business Experience
•
•
LPL Financial; Registered Representative, Investment Advisor Representative;
from 09-08-2009 to present
Waterstone Financial Group - rolled up into LPL Financial; Registered
Representative, Investment Advisor Representative; from 10-28-2002 to 09-082009
ITEM 3 DISCIPLINARY INFORMATION
Colin T. Kelly has no reportable disciplinary history.
ITEM 4 OTHER BUSINESS ACTIVITIES
Investment-Related Activities Colin T. Kelly is also engaged in the following investmentrelated activities:
• Registered representative of a broker-dealer
• Insurance company of agency
In addition to being an Investment Advisor Representative (IAR) of SIS, Mr. Kelly is
also a Registered Representative (RR) and IAR of LPL Financial (LPL).
LPL and SIS are independently owned and operated.
When acting a in IAR of SIS, Mr. Kelly receives part of the SIS account management gee
described in Schedule A of the SIS Discretionary Agreement all clients sign.
When acting as an IAR of LPL, Mr. Kelly receives part of the LPL account management
fee as described in LPL account documentation.
In his capacity as a RR of LPL, Mr. Kelly has the ability to purchase individual stocks,
bonds and other securities that he does not have at SIS. For this, Mr. Kelly is
compensated by a commission schedule that is different than the fee schedule at SIS.
Mr. Kelly may have a conflict of interest in that he represents investment offerings of
both firms. On a client-by-client basis, Mr. Kelly determines what is in the best interest of
his client based on various factors described in the SIS's ADV Part 2, a copy of which the
reader should read carefully.
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SIS is not an insurance company and, while SIS is a licensed Illinois insurance agency,
Mr. Kelly does not place insurance business through SIS
Colin T. Kelly receives commissions, bonuses or other compensation on the sale of
securities or other investment products.
Mr. Kelly is appropriately registered with LPL as an IAR, RR and insurance agent.
Mr. Kelly is appropriately registered with SIS as an IAR.
As such, Mr. Kelly can select between which RIA he recommends. He can recommend
clients place assets at LPL as his broker-dealer or in various insurance products offered
by LPL's insurance agency. Mr. Kelly may have a conflict of interest in that this practice
may provide an incentive to recommend products based on compensation paid, rather
than on clients' needs.
Non Investment-Related Activities Mr. Kelly shares office space with Desmond &
Ahern, Ltd an. and their staff's interact. Doing so requires expense sharing which may be
a conflict of interest.
ITEM 5 ADDITIONAL COMPENSENATION
Colin T. Kelly does not receive any economic benefit from a non-advisory client for the
provision of advisory services.
ITEM 6 SUPERVISION
Supervisor: Thomas E, King
Title: LPL OSJ, CCO Strategic Investment Solutions, Inc.
Phone Number: 708-645-8820
As to Mr. Kelly's registration as an IAR of SIS:
Mr. Kelly invests client money in two programs:
1. Portfolios Mr. Kelly structures, maintains and prepares reports for and,
2. SIS's Strategic Equity Portfolios (StEP) model proprietary program that SIS structures,
maintains and reports for.
When Mr. Kelly invests client assets into portfolios Mr. Kelly structures, he places initial as well
as additional withdrawal and rebalance trades. He also prepares client quarterly statements and
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STRATEGIC EQUITY PORTFOLIO
invoices.
When Mr. Kelly invests client assets into SIS's proprietary StEP program, SIS structures client
portfolios and places initial as well as additional, withdrawal and rebalance trades. SIS prepares
client quarterly statements and invoices.
In both programs, new client, custodial account opening paperwork and Discretionary
Agreements are received and supervised by SIS prior to acceptance or investing client assets.
In both programs, preparations of client quarterly statements and invoices as well as deduction of
client fees are supervised by SIS personnel.
As to Mr. Kelly's registration with LPL:
Mr. Kelly's initial deposits/withdrawals and rebalance trades, client account paperwork, outside
business activities, e-mails and other business related activities are manually entered into or
electronically received into LPL Financial's proprietary Branch Net software and routed to his
supervisory OSJ for approval.
Mr. Kelly's OSJ supervisor performs an on-sight branch audit review at least annually. During
that time, various activities are inspected including, but not limited to, licensing, office and file
security, client file and paperwork, advertising, correspondence, client complaints, exception
reports, outside business activities, privacy, code of ethical behavior and a
desktop/portable/memory-stick/PDA security inspection is made. Any on-going issues are
discussed until resolved and a written report is prepared and filed with the supervisory OSJ and
LPL.
Many of these same activities are also performed on a day-to-day basis, by phone, fax, e-mail
and personal meetings.
As to Mr. Kelly's acting as an IAR of SIS Mr. Kelly's LPL OSJ supervisor is also Chief
Compliance Officer of SIS. When fulfilling the responsibilities of one of the other supervisory
activities overlap.
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Part 2B of Form ADV: Brochure Supplement
Thomas Edwin King
9501 W 144th Place
Orland Park, IL 60462
708-645-8820
Strategic Investment Solutions, Inc.
Orland Park, Illinois 60462
03/30/2013
This brochure supplement provides information about Thomas Edwin King that
supplements the Strategic Investment Solutions, Inc. (SIS) brochure. You should
have received a copy of that brochure. Please contact Thomas E. King if you did
not receive (SIS)'s brochure or if you have any questions about the contents of
this supplement.
Additional information about Thomas Edwin King is available on the SEC’s
website at www.adviserinfo.sec.gov
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STRATEGIC EQUITY PORTFOLIO
ITEM 2 EDUCATIONAL, BACKGROUND AND BUSINESS EXPERIENCE
Full Legal Name: Thomas Edwin King
Born: 1945
Education
•
•
Kellogg Graduate School of Management of Northwestern University Kellogg
Management Institute (KMI); Certificate, Business; 2001
St. Norbert College; BA, Business; 1967
Business Experience
•
•
•
Strategic Investment Solutions, Inc.; President, Chief Operations Officer, Chief
Compliance Officer; from 01-01-2006 to current
First Penn Pacific, a wholly owned subsidiary of Lincoln National; Senior officer
on site; from 01-06-2001 to 30-12-2003
LPL Financial, Waterstone Financial,- rolled into LPL; Lincoln Securities, and
Terra Securities; Registered Representative; from 11-15-1982 to current
Designations
Thomas Edwin King has earned the following designation(s) or certificate of attendance and is in
good standing with the granting authority:
Kellogg Management Institute (KMI)
Kellogg School of Management Institute (KMI) of Northwestern University’s is a six-month
general management program that presents essentials of an MBA curriculum in a condensed
format, focusing on practical execution of business concepts. Attendees learn how to make better
overall business decisions through coursework in foundational business areas such as finance,
accounting, leadership, marketing, operations and strategy. Attendees learn tools to apply new
knowledge immediately. The KMI program is structured to accommodate schedules of modern
leaders’ responsibilities. KMI participants receive a core education in less than six months
without being away from the office for significant periods of time. Content and format are
designed to deliver formal management education from a world-renowned business school to
professionals who want to supplement their on-the-job experience. Mr. King’s fellow classmates
elected him to deliver their commencement address.
Accredited Investment Fiduciary®; Center for Fiduciary Studies; 2008
Accredited Investment Fiduciary® (AIF®)
The AIF® designation is administered by the Center for Fiduciary Studies, LLC (a Fiduciary
fi360 company). To receive the AIF designation, individuals must complete a training program,
successfully pass a comprehensive closed-book final examination under the supervision of a
proctor and agree to abide by the AIF Code of Ethics. In order to maintain the AIF designation,
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STRATEGIC EQUITY PORTFOLIO
the individual must annually renew their affirmation of the AIF Code of Ethic and complete six
hours of continuing education credits.
ITEM 3 DISCIPLINARY INFORMATION
Thomas Edwin King has no reportable disciplinary history.
ITEM 4 OTHER BUSINESS ACTIVITIES
Investment-Related Activities Thomas Edwin King is also engaged in the following
investment-related activities:
•
•
Registered representative of a broker-dealer
Insurance company or agency
In addition to being an Investment Advisor Representative (IAR) of Strategic Investment
Solutions Inc. (SIS), Mr. King is also a Registered Representative (RR) of LPL Financial
(LPL).
LPL and SIS independently owned and operated.
When acting as an IAR of SIS, Mr. King receives part of the SIS account management
fee described in Schedule A of the SIS Discretionary Agreement all clients sign.
In his capacity as a RR of LPL, Mr. King has the ability to purchase individual stocks,
bonds and other securities that he does not have at SIS. For this, Mr. King is compensated
by a commission schedule that is different than the fee schedule at SIS.
Mr. King may have a conflict of interest in that he represents investment offerings of both
firms. On a client-by-client basis, Mr. King determines what is in the best interest of his
client based on various factors described in SIS's ADV Part 2, a copy of which the reader
should read carefully.
While SIS is not an insurance company, SIS is a licensed Illinois insurance agency. Mr.
King places insurance business through SIS. In this capacity, Mr. King can recommend
clients place assets at LPL as his broker-dealer or in various insurance products offered
by LPL's insurance agency. As such, Mr. King may have a conflict of interest in that this
practice may provide an incentive to recommend products based on compensation paid,
rather than on client needs
Thomas Edwin King receives commissions, bonuses or other compensation on the sale of
securities or other investment products.
Mr. King is appropriately registered with LPL as an RR and insurance agent.
Mr. King is appropriately registered with SIS as an IAR and insurance agent.
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Mr. King can place client assets with LPL as a broker-dealer or an insurance agent or can
place client assets with SIS as an IAR or as an insurance agent. As such Mr. King may
have a conflict of interest in that this practice may provide incentive to recommend
products based on compensation paid, rather than on client needs.
Non Investment-Related Activities With some exceptions, clients of SIS may also be
clients of the tax preparation firm Robert Byrns E.A. (RB EA).
Sharing clients raises privacy and may raise conflict of interest issues.
SIS and RB EA only share client information when it benefits the client and, even
though, only if the client has given written permission to do so.
There are not referral or other compensation arrangements between SIS and RB EA.
ITEM 4 OTHER BUSINESS ACTIVITIES
Thomas Edwin King is also engaged in the following investment related activities:
King Profit Performance (KPP)
KPP is a one person consulting firm whose clients are wholly owned companies seeking
improved performance. Mr. King performs an extensive survey of client business
practices, interviews key personnel and others, compares client companies to industry
leaders and recommends the "vital few" changes that, if implemented, are expected to
materially advance the client company. Areas of concentration include, but are not
limited to sales, marketing, operations, managerial reports, technology, personnel,
structure, benchmarking and target markets. Assignments are not considered complete
until employees are implementing and ownership is knowledgeable and in control.
ITEM 5 ADDITIONAL COMPENSATION
Thomas Edwin King does not receive any economic benefit from a non-advisory client for the
provision of advisory services.
ITEM 6 SUPERVISION
Supervisor: As the Chief Compliance Officer of SIS, Mr. King is SIS's highest ranking
supervisor. As Mr. King is also the LPL Office of Supervisory Jurisdiction (OSJ) designated onsite person, Mr. King is supervised by Kate Coughlan.
Title: Ms. Coughlan's Mr. Kings Designated LPL Principal
Phone Number: 858-450-9606
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As to Mr. King's registration as an IAR of SIS:
When Mr. King invests client assets into SIS's proprietary StEP program, SIS structures client
portfolios and places initial as well as additional, withdrawal and rebalance trades. SIS prepares
client quarterly statements and invoices.
New client, custodial account opening paperwork and Discretionary Agreements are received
and supervised by SIS prior to acceptance or investing client assets.
Preparations of client quarterly statements and invoices as well as deduction of client fees are
supervised by SIS personnel.
Mr. King's designated LPL supervisor supervises through a combination of electronic tools, dayto-day activities and the LPL OSJ annual audit.
As to Mr. King's registration with LPL:
Mr. King's initial deposits/withdrawals and rebalance trades, client account paperwork, outside
business activities, e-mails and other business related activities are manually entered into or
electronically received into LPL Financial's proprietary Branch Net software and routed for
approval.
LPL's OSJ audit team performs an on-sight branch audit review at least annually. During that
time, various activities are inspected including, but not limited to, licensing, office and file
security, client file and paperwork, advertising, correspondence, client complaints, exception
reports, outside business activities, privacy, code of ethical behavior and a
desktop/portable/memory-stick/PDA security inspection is made. Any on-going issues are
discussed until resolved and a written report is prepared and filed with the supervisory OSJ and
LPL.
Many of these same activities are also performed on a day-to-day basis, by phone, fax, e-mail
and personal meetings.
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Part 2B of Form ADV: Brochure Supplement
Robert Michael Byrns
9501 W. 144th Place
Orland Park, IL 60462
708-645-8820
03/30/2013
This brochure supplement provides information about Robert Michael Byrns that
supplements the Strategic Investment Solutions, Inc. (SIS) brochure. Readers
should have received a copy of that brochure. Please contact Thomas E. King if
you did not receive SIS's brochure or if there are any questions about the contents
of this supplement.
Additional information about Robert Michael Byrns is available on the SEC’s
website at www.adviserinfo.sec.gov
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STRATEGIC EQUITY PORTFOLIO
ITEM 2 EUCATIONAL, BACKGOUND AND BUSINESS EXPERIENCE
Full Legal Name: Robert Michael Byrns
Born: 1952
Education
•
•
City College of New York; BA , Psychology; 1975
University of Central Florida ; BS, Accountancy; 1979
Business Experience
•
•
•
•
Strategic Investment Solutions, Inc. ; Chief Executive Officer, Secretary,
Treasurer; from 01-01-2006 to present
Robert Byrns, E. A. and successor companies; President; from 01-01-1977 to
present
LPL Financial; Registered Representative; from 09-08-2009 to current
Waterstone Financial Group; Registered Representative - rolled up to LPL
Financial; Registered 01-2006 to 9-2009
Designations
Robert Michael Byrns has earned the following designation(s) and is in good standing with the
granting authority:
Certified Financial Planner (CFP®) 1984
The program is administered by the Certified Financial Planner Board of Standards Inc. Those
with the CFP® designation have demonstrated competency in all areas of finance related to
financial planning. Candidates complete studies on over 100 topics, including stocks, bonds,
taxes, insurance, retirement planning and estate planning. In addition to passing the CFP
certification exam, candidates must also complete qualifying work experience and agree to
adhere to the CFP Board's code of ethics and professional responsibility and financial planning
standards.
Enrolled Agent® 1984
The program is administered by the Department of the Treasuries Internal Revenue Service, the
criteria of which can be found in Treasury Circular 230, Regulations Governing the Practice of
Attorneys, Certified Public Accountants, Enrolled Agents, Enrolled Actuaries, and Appraisers
before the Internal Revenue Service. To become an Enrolled Agent you can pass an examination,
achieve passing scores, apply for enrollment and pass a background check to ensure that you
have not engaged in any conduct that would justify the suspension or disbarment of an attorney,
CPA, or enrolled agent from practice before the IRS.. You can also become an Enrolled Agent
by virtue of past service and technical experience with the IRS, apply for enrollment and pass a
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STRATEGIC EQUITY PORTFOLIO
background check to ensure that you have not engaged in any conduct that would justify the
suspension or disbarment of an attorney, CPA, or enrolled agent from practice before the IRS.
Mr. Byrns earned his EA designation via the examination method.
Accredited Tax Preparer® (ATP) 1996
As sponsored by the Accreditation Council for Accountancy and Taxation (ACAT), the ATP is a
leading national credential for tax practitioners who have a thorough knowledge of the existing
tax code and the preparation of individual tax returns with an expertise in comprehensive 1040
issues including supporting schedules, self-employed returns, and ethics. To become an
Accredited Tax Preparer®, you must pass the ATP examination and have three years of work
experience in tax preparation. The ATP examination is a three and a half hour, 100 multiplechoice question exam that tests proficiency in the preparation of individual tax returns,
comprehensive 1040 issues, and ethics. Questions on the ATP exam are developed as the result
of a Job Practice Analysis that studies what tax preparers do, how often they perform each task
and how important they perceive the task to be. The result of this analysis is a blueprint or
outline for the exam covering the topics to be tested and the number of questions on each topic.
Accredited Tax Advisor® (ATA)
As sponsored by the Accreditation Council for Accountancy and Taxation (ACAT), the ATA is a
premier national tax credential for practitioners who handle sophisticated tax planning issues,
including planning for owners of closely held businesses, planning for the highly compensated,
choosing qualified retirement plans and performing estate tax planning. Their expertise covers
tax returns for individuals, business entities, fiduciaries, trusts and estates, as well as tax
planning, tax consulting and ethics. The ATA must have five years of experience in tax
preparation, compliance, tax planning and consulting, of which 40% must be in tax planning and
consulting.
Accredited Investment Fiduciary® (AIF®) 2010
The AIF designation is administered by the Center for Fiduciary Studies, LLC (a Fiduciary fi360
company). To receive the AIF designation, individuals must complete a training program,
successfully pass a comprehensive closed-book final examination under the supervision of a
proctor and agree to abide by the AIF Code of Ethics. In order to maintain the AIF designation,
the individual must annually renew their affirmation of the AIF Code of Ethic and complete six
hours of continuing education credits.
ITEM 3 DISCIPLINARY INFORMATION
Robert Michael Byrns has no reportable disciplinary history.
ITEM 4 OTHER BUSINESS ACTIVITIES
Investment-Related Activities Robert Michael Byrns is also engaged in the following
investment-related activities:
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•
•
Registered representative of a broker-dealer
Insurance company or agnecy
In addition to being an Investment Advisor Representative (IAR) of Strategic Investment
Solutions Inc. (SIS), Mr. Byrns is also a Registered Representative (RR) of LPL
Financial (LPL).
LPL and SIS independently owned and operated.
When acting as an IAR of SIS, Mr. Byrns receives part of the SIS account management
fee described in Schedule A of the SIS Discretionary Agreement all clients sign.
In his capacity as a RR of LPL, Mr. Byrns has the ability to purchase individual stocks,
bonds and other securities that he does not have at SIS. For this, Mr. Byrns is
compensated by a commission schedule that is different than the fee schedule at SIS.
Mr. Byrns may have a conflict of interest in that he represents investment offerings of
both firms. On a client-by-client basis, Mr. Byrns determines what is in the best interest
of his client based on various factors described in SIS's ADV Part 2, a copy of which the
reader should read carefully.
While SIS is not an insurance company, SIS is a licensed Illinois insurance agency. Mr.
Byrns places insurance business through SIS. In this capacity, Mr. Byrns can recommend
clients place assets at LPL as his broker-dealer or in various insurance products offered
by LPL's insurance agency. As such, Mr. Byrns may have a conflict of interest in that this
practice may provide an incentive to recommend products based on compensation paid,
rather than on client needs.
Mr. Byrns receives commissions, bonuses or other compensation on the sale of securities
or other investment products.
Mr. Byrns is appropriately registered with LPL as RR and insurance agent.
Mr. Byrns is appropriately registered with SIS as an IAR and an insurance agent.
Mr. Byrns can place assets at LPL as his broker-dealer or insurance agent or can place
client assets with SIS as an IAR or as an insurance agent. As such, Mr. Byrns may have a
conflict of interest in that this practice may provide an incentive to recommend products
based on compensation paid, rather than client needs.
Non Investment-Related Activities Tax Preparation/Accounting. Mr. Byrns is a sole
owner of Robert Byrns, E.A. (RB EA). RB EA and SIS are independently owned and
operated. While acting as an employee of RB EA, Mr. Byrns prepares tax returns and
performs other miscellaneous related duties for a select group of clients. Miscellaneous
duties include understanding clients' financial picture and sometimes include
recommending clients seek legal, accounting or investment advice.
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In suggesting clients may wish to work with any specific legal, accounting or investment
advisor, MR. Byrns may have a conflict of interest.
With some exceptions, clients of RB EA are also clients of SIS.
Sharing clients raises privacy and other issues. RB EA and SIS only share client
information when it benefits the client and, even then, only if the client has give written
permission to do so.
There is no referral or other compensation arrangement between RB EA and SIS.
Mr. Byrns is not seeking additional RB EA clients.
ITEM 5 ADDITIONAL COMPENSATION
Robert Michael Byrns does not receive any economic benefit from a non-advisory client for the
provision of advisory services.
ITEM 6 SUPERVISION
Supervisor: Thomas King
Title: OSJ
Phone Number: 708-645-8820
As to Mr. Byrns's registration as an IAR of SIS:
When Mr. Byrns invests client assets into SIS's proprietary StEP program, SIS structures client
portfolios and places initial as well as additional, withdrawal and rebalance trades. SIS prepares
client quarterly statements and invoices.
New client, custodial account opening paperwork and Discretionary Agreements are received
and supervised by SIS prior to acceptance or investing client assets.
Preparations of client quarterly statements and invoices as well as deduction of client fees are
supervised by SIS personnel.
As to Mr. Byrns's registration with LPL:
Mr. Byrns's initial deposits/withdrawals and rebalance trades, client account paperwork, outside
business activities, e-mails and other business related activities are manually entered into or
electronically received into LPL Financial's proprietary Branch Net software and routed to his
supervisory OSJ for approval.
Mr. Byrns's OSJ supervisor performs an on-sight branch audit review at least annually. During
that time, various activities are inspected including, but not limited to, licensing, office and file
security, client file and paperwork, advertising, correspondence, client complaints, exception
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STRATEGIC EQUITY PORTFOLIO
reports, outside business activities, privacy, code of ethical behavior and a
desktop/portable/memory-stick/PDA security inspection is made. Any on-going issues are
discussed until resolved and a written report is prepared and filed with the supervisory OSJ and
LPL.
Many of these same activities are also performed on a day-to-day basis, by phone, fax, e-mail
and personal meetings.
Mr. Byrns's LPL OSJ supervisor is also Chief Compliance Officer of SIS. When fulfilling the
responsibilities of one of the other supervisory activities overlap.
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