UMB Private Wealth Management, LLC

UMB Private Wealth Management, LLC is a wholly‑owned subsidiary of UMB Financial Corporation that provides investment advisory services primarily to private pooled investment vehicles, including special purpose vehicles and pooled funds. As of September 30, 2025, it reported $68,362,469 in non‑discretionary assets under management and focuses on the design, creation and ongoing management of Funds whose investment objectives and limits are set forth in their Offering Documents.

Investment oversight is provided by an Investment Committee that relies on asset allocation principles and a mix of macroeconomic, fundamental and technical analysis, supplemented by third‑party research; specific strategies and manager selections are determined and disclosed in each Fund’s Offering Documents. The firm charges asset‑based management fees and the brochure discloses that affiliates may receive performance‑based compensation (e.g., profits interests), a compensation structure the firm notes can create incentives that it seeks to manage.

The brochure highlights several operational features that distinguish the firm from many peers: UMBPWM operates on a largely non‑discretionary basis due to single‑purpose Fund mandates, an affiliated entity (UMB Merchant LLC) made seed investments in one or more Funds, and related affiliates (including UMB Bank, n.a., UMB Financial Services and UMB Fund Services) provide banking, broker‑dealer and fund administration services. These affiliated relationships, along with the potential for an affiliate to be deemed custodian or general partner of the Funds, are identified as potential conflicts that the firm addresses through governance, policies and disclosures.