Veritas Independent Partners, LLC

CRD#169291
Investment Advisor Firm

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Overview

Veritas Independent Partners, LLC operates as a financial advisory company headquartered in Conway, Arkansas. The firm has $74.0 million in assets throughout 645 customer accounts. Veritas Independent Partners, LLC has a small team of 15 employees, fourteen of whom are financial advisors. Veritas Independent Partners, LLC does not act as a registered broker-dealer, meaning the advisor cannot buy and sell securities for its accounts and those of its clients and instead has to go through a broker-dealer company to do so. Securities are tradable financial investments like equities, options and bonds.

Veritas Independent Partners, LLC oversees the majority of its accounts on a discretionary basis. Discretionary management means that a portfolio manager makes buy and sell judgments without needing the customer's authorization. The company also oversees 20 non-discretionary accounts totaling $1.1 million in assets. The company oversees roughly $114,700 for each account. $500,001 to $1,000,000 of its financial planning investments were in securities, with under $100,000 placed in non-securities. The typical financial advisor at Veritas Independent Partners, LLC manages around 46 client accounts, making it about average in terms of personalization.

Veritas Independent Partners, LLC's central office is located at 2201 Washington Avenue, Conway, Arkansas 72034. The company is legally allowed to serve investors throughout a few states, including Arkansas, Georgia, Montana and Texas.

Assets Under Management

$74.0 million

Number of Advisors

14

Disclosures

No

Office Location

2201 Washington Avenue
Conway, AR 72034

Veritas Independent Partners, LLC by the Numbers

Total Assets Under Management

$74.0 million

National Average: $3.7 billion
Total Number of Employees

15

National Average: 29
Total Number of Accounts

645

National Average: 2,073
Average Account Size

$114.7 thousand

National Average: $1.8 million

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Products and Services

Financial services that Veritas Independent Partners, LLC provides can include financial planning services and portfolio management for individuals and small businesses. In the last financial year, Veritas Independent Partners, LLC provided financial planning services to 11-25 of its accounts. The firm does not sell products or offer services aside from investment advisory services to its investment advisory clients.

Core Advisor Services

  • Offered by 45% 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 62% 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

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Fee Structure

Financial advisory fees depend on which services are offered. However, fee types charged by Veritas Independent Partners, LLC likely are comprised of the following fee types: asset-based or hourly. Wrap fee programs, or the practice of bundling services for a single fee, are not provided by the firm. Veritas Independent Partners, LLC is able to withdraw its expenses directly from customer funds.

Available

  • Offered by 74% 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 35% 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.

Unavailable

  • Find one of the 2% 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 17% 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 1% 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 40% of firms that offer this fee type

    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.

  • Find one of the 12% 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

Veritas Independent Partners, LLC caters to retail investors, high net worth investors and pension plans. Out of its 645 customers, Veritas Independent Partners, LLC's largest client by number of accounts is retail investors, but it also serves 30 high-net-worth individuals. A high-net-worth individual is defined by the SEC as a person who has at least $750,000 under management or a net worth of at least $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's accounts are non-U.S. persons.

  • High-Net-Worth Individuals* - 4.65%
  • Other Individuals - 94.88%
  • Corporations - 0.47%
  • Charitable Organizations - 0%

* 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

Veritas Independent Partners, LLC does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Veritas Independent Partners, LLC

Townsend Phipps
Conway, AR
Daniel Dickerson
Hot Springs National Park, AR
Joe Justus
Little Rock, AR
Mitchum Tapson
Conway, AR
Rebecca Murdoch
Conway, AR
Kenneth Kincade
Conway, AR
Terry Minton
Cabot, AR
Robert Mikkelsen
Conway, AR
Gary Seibel
Conway, AR

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This content was compiled from the SEC and FINRA

Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.