B. Riley Wealth Portfolio Advisers, LLC

CRD#314171
Investment Advisor Firm

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Learn more about B. Riley Wealth Portfolio Advisers, LLC

  • Overview
  • By the Numbers
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations

    • Overview

    B. Riley Wealth Portfolio Advisers, LLC operates as a financial advisory company located in Memphis, Tennessee. The company administers $247.6 million in assets across 572 client accounts, placing it in the mid-tier of firms in the country by assets under management (AUM). The firm has a small group, including 1 financial advisor. B. Riley Wealth Portfolio Advisers, LLC is not a registered broker-dealer, signifying that the company is not able to buy and sell securities for its accounts and those of its clients and instead has to go through a broker-dealer firm to do so. Securities are defined as exchangable financial investments such as bonds, stocks and options.

    B. Riley Wealth Portfolio Advisers, LLC manages all of its client assets on a discretionary basis. Discretionary management signifies that transaction decisions for the client's account are made by a portfolio manager without needing to seek the customer's consent. The company administers an average of $432,787 in assets for every client account. An average advisor at B. Riley Wealth Portfolio Advisers, LLC oversees around 572 client accounts.

    The firm's main office is at 40 South Main, Memphis, Tennessee 38103. It is legally permitted to serve clients throughout 16 U.S. states and territories.

    Assets Under Management

    $247.6 million

    Number of Advisors

    1

    Disclosures

    No

    Office Location

    40 South Main
    Memphis, TN 38103

    B. Riley Wealth Portfolio Advisers, LLC by the Numbers

    Total Assets Under Management

    $247.6 million

    National Average: $8.6 billion
    Total Number of Employees

    11

    National Average: 64
    Total Number of Accounts

    572

    National Average: 375,227
    Average Account Size

    $432.8 thousand

    National Average: $23.0 thousand
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    Fee Structure

    Fees charged by financial advisors usually are based on the financial services offered. Fee types billed by B. Riley Wealth Portfolio Advisers, LLC most likely consist of the following fee structures: asset-based or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the company.

    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.

    Back to Overview

    Types of Clients

    The firm does business with a number of different customers. B. Riley Wealth Portfolio Advisers, LLC works with retail investors, high net worth investors, pension plans, other investment advisers and corporations. Out of its 572 customers, B. Riley Wealth Portfolio Advisers, LLC's largest client type is retail investors, although it also caters to 20 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 considered a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's clients are represented by non-U.S. persons.

    • High-Net-Worth Individuals* - 3.53%
    • Other Individuals - 84.1%
    • Corporations - 12.37%
    • 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

    B. Riley Wealth Portfolio Advisers, LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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