Drive Wealth Advisers
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Overview
Drive Wealth Advisers operates as a financial advisory firm located in Lehi, Utah. The firm handles $1.8 billion in assets throughout 3,292 customer accounts, placing it among the biggest financial advisory firms in the United States by assets under management (AUM). The company has a small group, including 13 financial advisors. Drive Wealth Advisers does not act as a registered broker-dealer, signifying that it cannot buy and sell securities for its accounts and those of its customers and instead has to go through a broker-dealer firm to do so. Securities are exchangable fiscal assets like stocks, bonds and options.
Drive Wealth Advisers oversees more than half of its accounts in a discretionary manner. Discretionary management signifies that a portfolio manager makes buy and sell choices without requiring the customer's consent. It also has 208 non-discretionary accounts totaling $449.0 million in AUM. The company administers an average of $555,935 in assets for each customer account. The average advisor at Drive Wealth Advisers manages around 253 client accounts.
The firm's central office is located at 3333 N Digital Drive, Lehi, Utah 84043. The company is legally registered to provide services to clients across a few states, including Arizona, California, Colorado, Idaho, Missouri, Nevada, Texas, Utah, Virginia and Washington.
Assets Under Management
Number of Advisors
Disclosures
Office Location
Drive Wealth Advisers by the Numbers
$1.8 billion
14
3,292
$555.9 thousand
Products and Services
Drive Wealth Advisers offers a number of financial services, including financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, selection of other advisers and other services. In the past financial year, it provided financial planning services to 11-25 of its clients. It does not sell products or offer services apart from investment advisory services to its investment advisory customers. It is also affiliated with a number of other service providers in the financial services industry, including with an accountant or accounting firm, lawyer or law firm and insurance company or agency.
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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Publication of Periodicals
This is the publication of various financial education materials.
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Educational Seminars/Workshops
This is the hosting of seminars or workshops to educate investors on financial concepts.
Fee Structure
Financial advisory fees largely vary depending on which services the firm provides the client. Fees billed by Drive Wealth Advisers most likely include the following fee structures: asset-based, hourly, fixed or other. The firm 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
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Offered by 21% of firms
Hourly
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Offered by 32% of firms
Fixed
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Offered by 10% of firms
Other
Unavailable
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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
Types of Clients
The firm manages money for a number of different investors. Drive Wealth Advisers works with retail investors, high net worth investors, pension plans, charitable organizations and corporations. Out of its 3,292 clients, Drive Wealth Advisers's biggest client is retail investors, but it also serves 293 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an investor who has at least $750,000 in AUM 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 firm's accounts reside abroad.
- High-Net-Worth Individuals* - 27.62%
- Other Individuals - 58.91%
- Corporations - 13.29%
- Charitable Organizations - 0.19%
* 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
Drive Wealth Advisers does not have any disclosures.
Please visit its Form ADV for more details.
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Financial Advisors at Drive Wealth Advisers
Lehi, UT
Lehi, UT
Lehi, UT
Lehi, UT
Lehi, UT
Lehi, UT
Lehi, UT
St. George, UT
Lehi, UT
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