Customer relationship

Finwareium Financial LLC Form Customer Relationship Summary (“CRS”) Effective October 18, 2021.

1. Introduction.

Finwareium Financial LLC (“Finwareium Financial”, “Finwareium,” “we,” “our,” or “us”) is registered with the U.S. Securities and Exchange Commission as a broker-dealer and is a member of the Financial Industry Regulatory Authority (“FINRA”) and the Securities Investor Protection Corporation (“SIPC”). Brokerage and investment advisory services and fees differ; and it is important that you understand these differences. Free and simple tools are available for you to research firms and financial professionals at Investor.gov/CRS, which also provides educational materials about broker-dealers, investment advisers, and investing.

2. What investment services and advice can you provide me?

Finwareium Financial offers brokerage services to retail investors. Our primary business is providing retail customers with an app-based brokerage platform (“App”) to place orders to buy and sell stocks, exchange-traded funds (“ETFs”), and other securities or investment strategies such as trading on margin or using options strategies. Finwareium also provides educational content and tools for investors to learn about trading and the markets. Certain retail customers are given an option to receive a recommendation of an asset allocation of ETFs through a proprietary computer algorithm, available exclusively through the App (“Recommendation”). This is a point in time brokerage Recommendation and not monitored for future market changes. For additional information about Recommendations please see the Finwareium Regulation Best Interest Disclosure. Finwareium buys and sells securities only at your direction. We do not have any account minimums; however, recommended trades may only be placed for amounts of $20.00 or more.
Finwareium Financial is an introducing broker-dealer. Your cash and securities will be custodied by our affiliate, Finwareium Securities, LLC (“Finwareium Securities” and together with Finwareium Financial, “Finwareium”), which services your account by executing, clearing and settling your trades; preparing and distributing your account statements and trade confirmations; and extending credit to margin accounts, including our “Finwareium Instant” account. We offer NYSE- and NASDAQ-listed stocks, ETFs, options and American depositary receipts (“ADRs”), as well as certain stocks and ADRs traded in over-the-counter markets. We also offer fractional shares in many of the same stocks, ETFs, and ADRs. We also do not offer different account types, mutual funds or fixed income securities, except in the form of an ETF.
For more information about our products and services, please visit our website at Finwareium.com/us/en/about as well as our Finwareium Regulation Best Interest Disclosure and Finwareium Customer Agreement.
Conversation starters: Given my financial situation, should I choose a brokerage 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? Responses to these questions can be found at: community.

3. What fees will I pay?

Finwareium does not charge commissions for executing buy and sell orders, nor does it charge for the point in time Recommendations we make through our App. Other fees will apply. The primary fees you should expect to pay include:
Finwareium Gold Fees: Finwareium charges a monthly subscription-based fee for access to premium features for margin account users such as bigger instant deposits, professional research from Morningstar, and Level II NASDAQ market data, as disclosed in the Fee Schedule and Finwareium Customer Agreement.
Margin Interest: Finwareium charges a percentage on funds you borrow to purchase securities in a margin account.
Other Fees and Costs: Finwareium charges other administrative fees, such as regulatory and exchange fees, and fees for certain paper copies of account documents as outlined in our Fee Schedule.
Underlying Fees Associated With investments: You will pay management fees (expense ratio) or other charges for ETFs you purchase, which are explained in more detail in the ETF’s prospectus.
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. For more information about fees and costs, please refer to the Finwareium Fee Schedule in the App or website, as well as the securities prospectus where applicable. Fees may change without notice and any changes will be reflected in the Finwareium Fee Schedule.