Fortune Wealth Management, LLC
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Overview
Fortune Wealth Management, LLC operates as a financial advisor company headquartered in Dallas, Texas. Fortune Wealth Management, LLC has $264.6 million in assets under management over 204 client accounts, making it a mid-tier investment advisory firm in the United States by assets under management (AUM). The firm has a small group, including 4 financial advisors. Fortune Wealth Management, LLC is not a registered broker-dealer, meaning it cannot buy and sell securities for its own accounts as well as its customers' and instead is required to go through a broker-dealer company to do so. Securities are exchangable financial assets like bonds, options and stocks.
Fortune Wealth Management, LLC oversees 193 of the firm's accounts on a discretionary basis. Discretionary management is a structure in which an investment advisor makes buy and sell decisions for the client's account without requiring client permission. The firm also manages 11 non-discretionary accounts totaling $5.4 million in AUM. The company's typical account size is $1.3 million. The typical advisor at Fortune Wealth Management, LLC manages about 51 client accounts, placing it towards the middle in terms of personalization.
The company's main office is located at 12222 Merit Drive, Dallas, Texas 75251-2231. The company is legally registered to serve investors across a few states, including California, Georgia, Louisiana, Tennessee and Texas.
Assets Under Management
Number of Advisors
Disclosures
Office Location
Fortune Wealth Management, LLC by the Numbers
$264.6 million
4
204
$1.3 million
Products and Services
Fortune Wealth Management, LLC provides a variety of financial services, which can consist of financial planning services, portfolio management for individuals and small businesses, selection of other advisers and publication of newsletters. In the past financial year, Fortune Wealth Management, LLC provided 1-10 of its clients with financial planning services. The company is engaged in selling products or offering services aside from investment advice to its customers.
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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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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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.
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Offered by 3% of firms
Publication of Periodicals
This is the publication of various financial education materials.
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Find a firm that offers this service
Educational Seminars/Workshops
This is the hosting of seminars or workshops to educate investors on financial concepts.
Fee Structure
A financial advisor's fees usually are based on which services are provided. However, fees charged by Fortune Wealth Management, LLC typically consist of the following fee type: asset-based. The company does not provide a wrap fee program, in which the firm offers a service bundle for a comprehensive fee.
Available
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Offered by 69% of firms
Percentage of Assets
Unavailable
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Find one of the 21% of firms that offer this fee type
Hourly
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Find one of the 1% of firms that offer this fee type
Commissions
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Find one of the 26% of firms that offer this fee type
Performance-based
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Find one of the 0% of firms that offer this fee type
Subscription
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Find one of the 32% of firms that offer this fee type
Fixed
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Find one of the 10% of firms that offer this fee type
Other
Types of Clients
The company provides services to retail investors and high net worth investors. Out of its 204 customers, Fortune Wealth Management, LLC's largest client is retail investors, although it also serves 92 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 under management 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). None of the company's customers reside abroad.
- High-Net-Worth Individuals* - 45.1%
- Other Individuals - 54.9%
- Corporations - 0%
- 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
Fortune Wealth Management, LLC does not have any disclosures.
Please visit its Form ADV for more details.
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Financial Advisors at Fortune Wealth Management, LLC
Dallas, TX
Dallas, TX
Dallas, TX
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