Heritage Wealth Advisors

CRD#137484
Investment Advisor Firm

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Learn more about Heritage Wealth Advisors

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Heritage Wealth Advisors is located at 919 East Main Street, Richmond, VA. The firm employs 18 financial advisors to manage client portfolios and provide financial guidance. Heritage Wealth Advisors is not a registered broker-dealer.

    Heritage Wealth Advisors oversees $4.0 billion in assets under management across 1,493 accounts, of which 1,473 are discretionary and 20 are non-discretionary. Over the past year, the firm has provided financial planning services to between 251 and 500 clients. The services offered include financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, pension consulting services, selection of other advisers, and other services. The firm caters to retail investors, high net worth investors, pooled investment vehicles, charitable organizations, and corporations, with high net worth investors being the largest client type by accounts. The fee structure at Heritage Wealth Advisors includes asset-based and fixed fees. The firm has 220 high net worth clients.

    Heritage Wealth Advisors is registered in the states of California, Florida, Georgia, Louisiana, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, and Virginia.

    Assets Under Management

    $4.0 billion

    Number of Advisors

    18

    Disclosures

    No

    Office Location

    919 East Main Street
    Richmond, VA 23219

    Heritage Wealth Advisors by the Numbers

    Total Assets Under Management

    $4.0 billion

    National Average: $8.6 billion
    Total Number of Employees

    35

    National Average: 64
    Total Number of Accounts

    1,493

    National Average: 375,227
    Average Account Size

    $2.7 million

    National Average: $23.0 thousand
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    Products and Services

    Heritage Wealth Advisors provides a variety of financial services, which can include financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, pension consulting services, selection of other advisers, and other services. In the prior financial year, Heritage Wealth Advisors provided 251-500 of its clients with financial planning services. The Firm is engaged in selling products or offering services different than investment advisory services to its customers.

    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

    • Offered by 20% of firms

      Selection of Other Advisors

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

    • Find a firm that offers this service

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Find a firm that offers this service

      Educational Seminars/Workshops

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

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    Fee Structure

    Fees for financial advisory services largely are based on the type of services offered. Fees billed by Heritage Wealth Advisors may include some combination of the following fee structures: asset-based or fixed.

    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 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 21% of firms that offer this fee type

      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.

    • 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

    The company does business with a number of different customers. The firm caters to retail investors, high net worth investors, pooled investment vehicles, charitable organizations, and corporations. Out of its 5 clients, Heritage Wealth Advisors's biggest client group by number of accounts is high net worth investors, but it also serves 220 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 more than $1,50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments).

    • High-Net-Worth Individuals* - 53.53%
    • Other Individuals - 32.85%
    • Corporations - 8.52%
    • Charitable Organizations - 5.11%

    * 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

    Heritage Wealth Advisors does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Heritage Wealth Advisors

    Meagan Roberts
    Sewickley, PA
    Kaitlyn Kocuba
    Sewickley, PA
    Steven Henderson
    Richmond, VA
    Kristen Puryear
    Richmond, VA
    Matthew Osten
    Richmond, VA
    Caroline Baronian
    Richmond, VA
    Aaron Zitalone
    Sewickley, PA
    John Lowe
    Richmond, VA
    Sarah Simmer
    Richmond, VA

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