Form ADV Part 2B Brochure Supplement
Robert A. Wiley, CFP®, CPA
LexAurum Advisors, LLC
d/b/a “Wiley Financial Services”
Iowa Branch: 5530 West Parkway, Suite 600, Johnston, IA 50131
(515) 491-2251
Home Office: 16010 Metcalf Avenue, Suite 101
Overland Park, KS 66085
(913) 261-9316
February 5, 2024
Supervision
Lex-Aurum maintains a supervisory structure designed to reasonably detect and prevent violations of securities laws, rules and regulations. This system includes written supervisory procedures, trained and qualified home office personnel, guidance issued to advisors in a compliance manual, and periodic office compliance inspections. Mr. Wiley reports to Peter W. Hughes, the CEO of the firm. Mr. Hughes can be reached at (913) 2619316.
LexAurum Advisors, LLC
d/b/a “Wiley Financial Services”
Iowa Branch: 5530 West Parkway, Suite 600, Johnston, IA 50131
(515) 491-2251
Home Office: 16010 Metcalf Avenue, Suite 101
Overland Park, KS 66085
(913) 261-9316
February 5, 2024
This Brochure Supplement provides information about Robert A. Wiley that supplements the LexAurum Advisors, LLC (LexAurum) Brochure which you should have received.
Please contact us at (913) 261-9316 if you did not receive the LexAurum Brochure or if you have any questions about it or the contents of this supplement.
Additional information about Mr. Wiley is available on the SEC's website at www.adviserinfo.sec.gov.
Please contact us at (913) 261-9316 if you did not receive the LexAurum Brochure or if you have any questions about it or the contents of this supplement.
Additional information about Mr. Wiley is available on the SEC's website at www.adviserinfo.sec.gov.
Educational Background and Business Experience
Robert A. Wiley, born in 1964, joined LexAurum in 2016 as an investment advisor representative. Mr. Wiley was simultaneously affiliated as a representative of VSR Advisory Services, an SEC registered investment adviser, and VSR Financial Services, Inc., a FINRA member broker dealer, from 2002 through 2016. He has also owned Wiley Financial Services since 1998. Before that, he was associated with Dewaay Advisory Services from 2002 to 2003. He was the Controller/CFO-AgChemical Manufacturing for Albaugh, Inc. from 1996 to 1998 and a Tax Manager for Gardiner & Co. CPA from 1990 to 1996.
Mr. Wiley earned a bachelor's degree in Agricultural Business from Iowa State University in 1987.
Mr. Wiley earned the title of CPA in 1989. CPAs are licensed and regulated by their state boards of accountancy. While state laws and regulations vary, the education, experience and testing requirements for licensure as a CPA generally include minimum college education (typically 150 credit hours with at least a baccalaureate degree and a concentration in accounting), minimum experience levels (most states require at least one year of experience providing services that involve the use of accounting, attest, compilation, management advisory, financial advisory, tax or consulting skills, all of which must be achieved under the supervision of or verification by a CPA), and successful passage of the Uniform CPA Examination. In order to maintain a CPA license, states generally require the completion of 40 hours of continuing professional education (CPE) each year (or 80 hours over a two-year period or 120 hours over a three-year period). Additionally, all American Institute of Certified Public Accountants (AICPA) members are required to follow a rigorous Code of Professional Conduct which requires that they act with integrity, objectivity, due care, competence, fully disclose any conflicts of interest (and obtain client consent if a conflict exists), maintain client confidentiality, disclose to the client any commission or referral fees, and serve the public interest when providing financial services. Most state boards of accountancy have adopted the AICPA's Code of Professional Conduct within their state accountancy laws or have created their own.
Mr. Wiley earned a CFP certificate in 2000. The CFP (Certified Financial Planner) is a professional certification granted by the Certified Financial Planner Board of Standards, Inc. ("CFP Board"). To attain the right to use the CFP mark, an individual must attain a bachelor's degree from a US college or university and complete a college level course of study covering financial planning topics including insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning. The individual must also pass a comprehensive 10-hour exam, complete at least three years of full-time financial planning related experience and agree to be bound by the CFP Board's Standards of Professional Conduct. In addition, to maintain the right to continue to use the mark, an individual must complete 30 hours of continuing education hours every two years and continue to agree to be bound by the Standards of Professional Conduct.
Disciplinary Information
Mr. Wiley is currently not subject to, nor has ever been subject to, any legal or disciplinary events of a material nature.
Other Business Activities
Mr. Wiley is licensed as an independent insurance agent. He earns commission-based compensation for selling insurance products to clients. Insurance commissions earned by Mr. Wiley are separate and in addition to advisory fees he earns. Accepting commission-based compensation poses a conflict of interest as it creates an incentive to effect insurance transactions for the purpose of generating compensation however, the client is under no obligation, contractually or otherwise, to purchase insurance products through Mr. Wiley. Further, based on current fiduciary and suitability standards, Mr. Wiley is required to make recommendations appropriate to each client's individual needs and objectives.
Mr. Wiley uses the business name "Wiley Financial Services" to represent his advisory business conducted through LexAurum and his insurance business conducted through his separate tax entity, Wiley Financial Services, Inc.
Mr. Wiley is also the owner and manager of a grain farm operated under the Raise Corporation. Mr. Wiley is also a member of the Johnson, Iowa Rotary Club.
Additional Compensation
Mr. Wiley does not receive any economic benefits, sales awards, or other compensation in connection with providing advisory services to clients.
Robert A. Wiley, born in 1964, joined LexAurum in 2016 as an investment advisor representative. Mr. Wiley was simultaneously affiliated as a representative of VSR Advisory Services, an SEC registered investment adviser, and VSR Financial Services, Inc., a FINRA member broker dealer, from 2002 through 2016. He has also owned Wiley Financial Services since 1998. Before that, he was associated with Dewaay Advisory Services from 2002 to 2003. He was the Controller/CFO-AgChemical Manufacturing for Albaugh, Inc. from 1996 to 1998 and a Tax Manager for Gardiner & Co. CPA from 1990 to 1996.
Mr. Wiley earned a bachelor's degree in Agricultural Business from Iowa State University in 1987.
Mr. Wiley earned the title of CPA in 1989. CPAs are licensed and regulated by their state boards of accountancy. While state laws and regulations vary, the education, experience and testing requirements for licensure as a CPA generally include minimum college education (typically 150 credit hours with at least a baccalaureate degree and a concentration in accounting), minimum experience levels (most states require at least one year of experience providing services that involve the use of accounting, attest, compilation, management advisory, financial advisory, tax or consulting skills, all of which must be achieved under the supervision of or verification by a CPA), and successful passage of the Uniform CPA Examination. In order to maintain a CPA license, states generally require the completion of 40 hours of continuing professional education (CPE) each year (or 80 hours over a two-year period or 120 hours over a three-year period). Additionally, all American Institute of Certified Public Accountants (AICPA) members are required to follow a rigorous Code of Professional Conduct which requires that they act with integrity, objectivity, due care, competence, fully disclose any conflicts of interest (and obtain client consent if a conflict exists), maintain client confidentiality, disclose to the client any commission or referral fees, and serve the public interest when providing financial services. Most state boards of accountancy have adopted the AICPA's Code of Professional Conduct within their state accountancy laws or have created their own.
Mr. Wiley earned a CFP certificate in 2000. The CFP (Certified Financial Planner) is a professional certification granted by the Certified Financial Planner Board of Standards, Inc. ("CFP Board"). To attain the right to use the CFP mark, an individual must attain a bachelor's degree from a US college or university and complete a college level course of study covering financial planning topics including insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning. The individual must also pass a comprehensive 10-hour exam, complete at least three years of full-time financial planning related experience and agree to be bound by the CFP Board's Standards of Professional Conduct. In addition, to maintain the right to continue to use the mark, an individual must complete 30 hours of continuing education hours every two years and continue to agree to be bound by the Standards of Professional Conduct.
Disciplinary Information
Mr. Wiley is currently not subject to, nor has ever been subject to, any legal or disciplinary events of a material nature.
Other Business Activities
Mr. Wiley is licensed as an independent insurance agent. He earns commission-based compensation for selling insurance products to clients. Insurance commissions earned by Mr. Wiley are separate and in addition to advisory fees he earns. Accepting commission-based compensation poses a conflict of interest as it creates an incentive to effect insurance transactions for the purpose of generating compensation however, the client is under no obligation, contractually or otherwise, to purchase insurance products through Mr. Wiley. Further, based on current fiduciary and suitability standards, Mr. Wiley is required to make recommendations appropriate to each client's individual needs and objectives.
Mr. Wiley uses the business name "Wiley Financial Services" to represent his advisory business conducted through LexAurum and his insurance business conducted through his separate tax entity, Wiley Financial Services, Inc.
Mr. Wiley is also the owner and manager of a grain farm operated under the Raise Corporation. Mr. Wiley is also a member of the Johnson, Iowa Rotary Club.
Additional Compensation
Mr. Wiley does not receive any economic benefits, sales awards, or other compensation in connection with providing advisory services to clients.
Supervision
Lex-Aurum maintains a supervisory structure designed to reasonably detect and prevent violations of securities laws, rules and regulations. This system includes written supervisory procedures, trained and qualified home office personnel, guidance issued to advisors in a compliance manual, and periodic office compliance inspections. Mr. Wiley reports to Peter W. Hughes, the CEO of the firm. Mr. Hughes can be reached at (913) 2619316.