Parkstone Wealth Management, LLC

CRD#168253
Investment Advisor Firm

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Learn more about Parkstone Wealth Management, LLC

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

    • Overview

    Parkstone Wealth Management, LLC is a financial advisory firm based in Arlington, Texas. Parkstone Wealth Management, LLC administers $170.7 million in assets over 83 customer 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 3 financial advisors. Parkstone Wealth Management, LLC is not a registered broker-dealer, signifying that the advisor cannot buy and sell securities for its customers' and own accounts and instead must go through a broker-dealer company to do so. Securities are exchangable financial investments such as equities, options and bonds.

    Parkstone Wealth Management, LLC manages all of its accounts in a discretionary manner. Discretionary management signifies that an investment advisor makes transaction judgments for the client's account without needing the client's permission. The investment advisory firm supervises roughly $2.1 million for every client account. An average financial advisor at Parkstone Wealth Management, LLC manages around 28 client accounts, making it about average in terms of personalization.

    The company's main office is at 1000 Ballpark Way, Arlington, Texas 76011. The company is legally permitted to provide services to clients throughout a number of states, including Louisiana and Texas.

    Assets Under Management

    $170.7 million

    Number of Advisors

    3

    Disclosures

    No

    Office Location

    1000 Ballpark Way
    Arlington, TX 76011

    Parkstone Wealth Management, LLC by the Numbers

    Total Assets Under Management

    $170.7 million

    National Average: $9.0 billion
    Total Number of Employees

    3

    National Average: 71,771
    Total Number of Accounts

    83

    National Average: 4,329
    Average Account Size

    $2.1 million

    National Average: $2.1 million

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    Products and Services

    Parkstone Wealth Management, LLC provides a variety of services, which can include financial planning services, portfolio management for individuals and small businesses and selection of other advisers. In the past financial year, it provided 10-Jan of its clients with financial planning services. It does not sell products or offer services apart from investment advice to its investment advisory accounts.

    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 47% 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 21% 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 charged by financial advisors typically are based on the type of services offered. However, fees billed by Parkstone Wealth Management, LLC likely are comprised of some blend of the following fee types: asset-based, hourly or fixed. The company does not provide a wrap fee program, in which the company offers a service bundle for a single fee.

    Available

    • Offered by 70% 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 21% 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.

    • Offered by 33% 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 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 works with retail investors, high net worth investors and charitable organizations. Out of its 83 customers, Parkstone Wealth Management, LLC's biggest client type by number of accounts is retail investors, but it also serves seven 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 more than $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's customers are from outside of the U.S.

    • High-Net-Worth Individuals* - 36.84%
    • Other Individuals - 57.89%
    • Corporations - 0%
    • Charitable Organizations - 5.26%

    * 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

    Parkstone Wealth Management, LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Parkstone Wealth Management, LLC

    Michael Simpton
    Arlington, TX
    Chester Straily
    Arlington, TX
    Cheryl Quisenberry
    Arlington, TX

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    The content in this profile was updated by SmartAsset on 04/01/2022 using publicly available data compiled from the SEC and FINRA. To report any data inconsistencies or errors, please contact profile-compliance@smartasset.com.

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