Wheat Givens Financial, LLC

CRD#114258
Investment Advisor Firm

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Learn more about Wheat Givens Financial, LLC

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

    • Overview

    Wheat Givens Financial, LLC is a financial advisory company headquartered in Mckinney, Texas. The company manages $140.9 million in assets under management over 736 accounts, placing it in the mid-tier of financial advisory firms in the United States by assets under management (AUM). The firm has a small team, including 2 financial advisors. Wheat Givens Financial, LLC does not act as a registered broker-dealer, meaning the advisor is not able to 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 tradable financial investments like equities, bonds and options.

    Wheat Givens Financial, LLC administers zero of the firm's accounts in a discretionary manner. Discretionary management is a structure in which an investment advisor makes transaction decisions for the client's account without needing client consent. The company also has 736 non-discretionary accounts totaling $140.9 million in AUM. The firm administers an average of $191,425 in assets for every customer account. An average financial advisor at Wheat Givens Financial, LLC administers about 368 client accounts.

    The firm's headquarters is located at 8751 Collin Mckinney Parkway, Mckinney, Texas 75070. Wheat Givens Financial, LLC is legally registered to serve customers throughout a number of states, including Arkansas, Florida, Louisiana, Oklahoma, Tennessee and Texas.

    Assets Under Management

    $140.9 million

    Number of Advisors

    2

    Disclosures

    No

    Office Location

    8751 Collin Mckinney Parkway
    Mckinney, TX 75070

    Wheat Givens Financial, LLC by the Numbers

    Total Assets Under Management

    $140.9 million

    National Average: $8.6 billion
    Total Number of Employees

    5

    National Average: 64
    Total Number of Accounts

    736

    National Average: 375,227
    Average Account Size

    $191.4 thousand

    National Average: $23.0 thousand
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    Products and Services

    Financial services provided by Wheat Givens Financial, LLC include financial planning services and portfolio management for individuals and small businesses. In the prior fiscal year, it provided 26-50 of its accounts with financial planning services. It is involved in selling products or offering services apart from investment advice to its clients. Wheat Givens Financial, LLC is affiliated with one or more other service providers in the financial services industry, including with a broker-dealer or securities dealer.

    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

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    Fee Structure

    Fees for financial advice usually vary depending on the type of financial services provided. Fees charged by Wheat Givens Financial, LLC may include the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are offered by the firm.

    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 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 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 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

    It caters to retail investors, high net worth investors, charitable organizations and corporations. Out of its 736 customers, Wheat Givens Financial, LLC's biggest client by number of accounts is retail investors, but it also manages money for 57 high-net-worth individuals. The SEC defines a high-net-worth individual as an investor 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 accounts are non-U.S. persons.

    • High-Net-Worth Individuals* - 20.21%
    • Other Individuals - 78.37%
    • Corporations - 0.71%
    • Charitable Organizations - 0.71%

    * 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

    Wheat Givens Financial, LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Wheat Givens Financial, LLC

    Lori Givens
    Mckinney, TX
    Phil Wheat
    Mckinney, TX

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