Commonwealth Retirement Investments LLC

CRD#285998
Investment Advisor Firm

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Learn more about Commonwealth Retirement Investments LLC

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

    • Overview

    Commonwealth Retirement Investments LLC operates as a financial advisor firm headquartered in Richmond, Virginia. It manages $210.1 million in assets across 752 customer accounts, placing it in the mid-tier of investment advisory firms in the country by assets under management (AUM). Commonwealth Retirement Investments LLC has a small group, including 6 financial advisors. Commonwealth Retirement Investments LLC does not act as a registered broker-dealer, meaning the firm cannot buy and sell securities for its customers' and own accounts and instead must go through a broker-dealer firm to do so. Securities are defined as tradable fiscal investments such as equities, options and bonds.

    Commonwealth Retirement Investments LLC administers more than half of the company's accounts on a discretionary basis. Discretionary management signifies that buy and sell choices for the client's account are made by an investment advisor without requiring client consent. The company also oversees 38 non-discretionary accounts with a total of $1.9 million in AUM. Commonwealth Retirement Investments LLC oversees roughly $279,346 for every account. The typical advisor at Commonwealth Retirement Investments LLC manages about 125 client accounts.

    Commonwealth Retirement Investments LLC's central office is at 9030 Stony Point Parkway, Richmond, Virginia 23235. It is registered to provide services to clients throughout a few states, including Maine, Massachusetts, North Carolina and Virginia.

    Assets Under Management

    $210.1 million

    Number of Advisors

    6

    Disclosures

    No

    Office Location

    9030 Stony Point Parkway
    Richmond, VA 23235

    Commonwealth Retirement Investments LLC by the Numbers

    Total Assets Under Management

    $210.1 million

    National Average: $8.6 billion
    Total Number of Employees

    8

    National Average: 64
    Total Number of Accounts

    752

    National Average: 375,227
    Average Account Size

    $279.3 thousand

    National Average: $23.0 thousand
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    Products and Services

    Commonwealth Retirement Investments LLC provides multiple services, which can include financial planning services, portfolio management for individuals and small businesses and publication of newsletters. In the prior financial year, the firm provided financial planning services to 101-250 of its accounts. The firm does not sell products or offer services other than investment advisory services to its investment advisory clients.

    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

    • Find a firm that offers this service

      Selection of Other Advisors

      This is the firm's assistance with choosing other advisors to work with who may have different specialties.

    • Offered by 3% of firms

      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 management fees typically depend on the financial services provided. However, fee types billed by the company likely include some combination of the following fee types: asset-based or fixed. The firm does not supply a wrap fee program, in which the company offers a service bundle for a single fee.

    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 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 21% of firms that offer this fee type

      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.

    • 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 firm provides services to retail investors, high net worth investors and charitable organizations. Out of its 752 accounts, Commonwealth Retirement Investments LLC's largest client group is retail investors, but it also manages money for 70 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 its clients are from outside of the U.S.

    • High-Net-Worth Individuals* - 24.31%
    • Other Individuals - 75.35%
    • Corporations - 0%
    • Charitable Organizations - 0.35%

    * 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

    Commonwealth Retirement Investments LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Commonwealth Retirement Investments LLC

    Christopher Lee
    Richmond, VA
    David Monday
    Richmond, VA
    Marcelo Ampie Zelaya
    Richmond, VA
    Ryan Drake
    Richmond, VA
    James Drake
    Richmond, VA

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