No. The Reading Wand is designed to help you learn and practise the skill, not remain dependent on the tool.
Its PhraseCues provide visible prompts that help you begin recognising and reading meaningful groups of words. As this becomes more natural, you can gradually reduce the number of cues and begin using the same PhraseSpan skill without the Wand.
The skill can then transfer to almost anything you need to read, including:
Books, reports, emails, PDFs, policies, articles, training materials and written instructions.
The Wand gives you the cues.
PhraseSpan gives you the skill.
The skill gives you the power to use what you read.