Innovia Wealth, LLC
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Overview
Innovia Wealth, LLC is a financial advisory company that has its headquarters in Grand Rapids, Michigan. Innovia Wealth, LLC handles $1.4 billion in assets under management over 2,289 client accounts, placing it among the biggest firms in the nation by assets under management (AUM). Innovia Wealth, LLC has a small team, including 13 financial advisors. Innovia Wealth, LLC is not a registered broker-dealer, meaning the firm cannot buy and sell securities for its own accounts as well as its clients' and instead has to go through a broker-dealer company to do so. Securities are defined as exchangable fiscal assets like equities, options and bonds.
Innovia Wealth, LLC oversees 2,239 of its accounts in a discretionary manner. Discretionary management is a structure in which buy and sell choices are made by a portfolio manager without needing client authorization. The company also oversees 50 non-discretionary accounts totaling $171.3 million in AUM. The advisory firm administers roughly $617,907 in assets for every account. The typical financial advisor at Innovia Wealth, LLC administers around 176 client accounts.
The company's main office is located at 171 Monroe Ave. Nw, Grand Rapids, Michigan 49503. Innovia Wealth, LLC is legally permitted to provide services to customers throughout 13 U.S. states and territories.
Assets Under Management
Number of Advisors
Disclosures
Office Location
Innovia Wealth, LLC by the Numbers
$1.4 billion
23
2,289
$617.9 thousand
Products and Services
Innovia Wealth, LLC provides a number of services, including financial planning services, portfolio management for individuals and small businesses, pension consulting services and other services. In the last financial year, Innovia Wealth, LLC provided 251-500 of its accounts with financial planning services. Innovia Wealth, LLC is not engaged in selling products or offering services apart from investment advisory services to its investment advisory customers. The company is affiliated with a number of other service providers in the financial services industry, including with an insurance company or agency.
Core Advisor Services
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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.
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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.
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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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Selection of Other Advisors
This is the firm's assistance with choosing other advisors to work with who may have different specialties.
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Publication of Periodicals
This is the publication of various financial education materials.
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Educational Seminars/Workshops
This is the hosting of seminars or workshops to educate investors on financial concepts.
Fee Structure
Fees charged by financial advisors typically vary depending on which services the firm provides the client. Fee types billed by the firm most likely include some combination of the following fee types: asset-based, hourly or fixed. The company does not participate in a wrap fee program, in which the company offers a service bundle for a comprehensive fee.
Available
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Offered by 69% of firms
Percentage of Assets
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Offered by 21% of firms
Hourly
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Offered by 32% of firms
Fixed
Unavailable
Types of Clients
The firm works with retail investors, high net worth investors, pension plans and corporations. Out of its 2,289 customers, Innovia Wealth, LLC's largest client by number of accounts is high net worth investors, although it also serves 321 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an individual who has at least $750,000 in AUM or a net worth of at least $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 1% of the firm's customers are represented by non-U.S. persons.
- High-Net-Worth Individuals* - 62.33%
- Other Individuals - 34.37%
- Corporations - 3.3%
- 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
Innovia Wealth, LLC does not have any disclosures.
Please visit its Form ADV for more details.
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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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