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 operates as an advisory firm located in Arlington, Texas. The firm manages $141.6 million in assets under management across 77 customer accounts, making it a mid-tier financial advisory firm in the country by assets under management (AUM). Parkstone Wealth Management, LLC has a small group of three employees, all of whom are financial advisors. Parkstone Wealth Management, LLC does not act as a registered broker-dealer, signifying that it 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 tradable financial assets such as options, bonds and stocks.

    Parkstone Wealth Management, LLC manages all of the company's accounts on a discretionary basis. Discretionary management signifies that an investment advisor has the discretion to make transaction judgments for the client's account without requiring client authorization. The firm's typical account size is $1.8 million. The average advisor at Parkstone Wealth Management, LLC manages about 26 client accounts, making it about average in terms of personalization.

    The company's main office is located at 1000 Ballpark Way, Arlington, Texas 76011. Parkstone Wealth Management, LLC is legally allowed to provide services to clients throughout 2 states, including Louisiana and Texas.

    Assets Under Management

    $141.6 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

    $141.6 million

    National Average: $3.7 billion
    Total Number of Employees

    3

    National Average: 29
    Total Number of Accounts

    77

    National Average: 2,073
    Average Account Size

    $1.8 million

    National Average: $1.8 million

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    Products and Services

    Parkstone Wealth Management, LLC offers a number of services, which can consist of financial planning services, portfolio management for individuals and small businesses and selection of other advisers. In the prior fiscal year, the firm provided 1-10 of its clients with financial planning services. The firm does not sell products or offer services apart from investment advice to its investment advisory accounts.

    Core Advisor Services

    • Offered by 45% 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 62% 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 23% 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

    Financial advisory fees typically vary depending on which services the firm provides the client. Fee types billed by Parkstone Wealth Management, LLC likely consist of some combination of the following fee types: asset-based, hourly or fixed. Parkstone Wealth Management, LLC does not supply a wrap fee program, in which the company offers a bundle of services for a single fee.

    Available

    • Offered by 74% 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 35% 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 40% 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 2% 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 17% 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 1% 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 12% 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

    Parkstone Wealth Management, LLC caters to retail investors and high net worth investors. Out of its 77 customers, Parkstone Wealth Management, LLC's largest client type by number of accounts is retail investors, though it also manages money for 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 counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's accounts reside abroad.

    • High-Net-Worth Individuals* - 43.75%
    • Other Individuals - 56.25%
    • 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

    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 on 08/06/2020, using data compiled from the SEC and FINRA.

    Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.