Wealth Management

CRD#137080
Investment Advisor Firm

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Overview

Wealth Management is a financial advisory firm based in Norfolk, Nebraska. It manages $2.3 billion in assets under management over 3,334 customer accounts, placing it among the largest investment advisory firms in the United States by assets under management (AUM). The firm has an average-sized group, including 48 financial advisors. Wealth Management does not act as a registered broker-dealer, signifying that the company cannot buy and sell securities for its own accounts as well as its customers' and instead must go through a broker-dealer firm to do so. Securities are exchangable fiscal investments such as bonds, stocks and options.

Wealth Management administers more than half of the firm's accounts on a discretionary basis. Discretionary management signifies that buy and sell judgments for the client's account are made by an investment advisor without needing client permission. Wealth Management also has one non-discretionary accounts with a total of $9.5 million in AUM. The company oversees about $704,538 in assets for each customer account. The typical advisor at Wealth Management manages around 69 client accounts, placing it towards the middle in terms of personalization.

Wealth Management's headquarters is at 125 South 4Th Street, Norfolk, Nebraska 68701. The firm is legally allowed to serve investors throughout 33 U.S. states and territories.

Assets Under Management

$2.3 billion

Number of Advisors

48

Disclosures

No

Office Location

125 South 4Th Street
Norfolk, NE 68701

Wealth Management by the Numbers

Total Assets Under Management

$2.3 billion

National Average: $8.6 billion
Total Number of Employees

60

National Average: 64
Total Number of Accounts

3,334

National Average: 375,227
Average Account Size

$704.5 thousand

National Average: $23.0 thousand
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Products and Services

Wealth Management provides a variety of services, including financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, publication of newsletters, educational seminars and other services. In the prior fiscal year, it provided financial planning services to 101-250 of its clients. It is not engaged in selling products or offering services other than investment advice to its investment advisory accounts. Wealth Management is also affiliated with one or more other service providers in the financial services industry, including with an accountant or accounting firm.

Core Advisor Services

  • Offered by 31% of firms

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 46% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

  • Find a firm that offers this service

    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Find a firm that offers this service

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

  • Offered by 3% of firms

    Publication of Periodicals

    This is the publication of various financial education materials.

  • Offered by 6% of firms

    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

Fees charged by financial advisors are based on the type of financial services provided. However, fees charged by the firm likely include some blend of the following fee structures: asset-based, hourly or fixed. The firm does not provide a wrap fee program, in which the company offers a bundle of services for a comprehensive fee.

Available

  • Offered by 69% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 21% of firms

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Offered by 32% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

Unavailable

  • Find one of the 1% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 26% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 0% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 10% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

Wealth Management does business with a broad range of customers. It caters to retail investors, high net worth investors, pension plans, charitable organizations and corporations. Out of its 3,334 customers, Wealth Management's largest client type by number of accounts is retail investors, though it also serves 657 high-net-worth individuals. A high-net-worth individual is defined by the SEC as a person who has at least $750,000 in AUM or a net worth of more than $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's clients are represented by people from outside of the U.S.

  • High-Net-Worth Individuals* - 20.41%
  • Other Individuals - 79%
  • Corporations - 0.43%
  • Charitable Organizations - 0.16%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Wealth Management does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Wealth Management

Taralynn Richtig
Seward, NE
Ryan Anderson
Mundelein, IL
George Sitz
Norfolk, NE
James Curran
Saint Louis, MO
Corey Cooney
Seward, NE
Kyle Overturf
Grand Island, NE
Joshua Kegley
Elkhorn, NE
Regan Else
Norfolk, NE
Ryan Burger
Norfolk, NE

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The content in this profile was updated by SmartAsset on 4/16/2023. All advisor details come from publicly available data, and we cannot guarantee the accuracy of the content. We are unable to make individual profile updates. If you want your profile removed temporarily or permanently, please contact profile-compliance@smartasset.com.

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