Heritage Wealth Advisors
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Learn more about Heritage Wealth Advisors
Overview
Heritage Wealth Advisors operates as a financial advisor company headquartered in Richmond, Virginia. Heritage Wealth Advisors handles $3.1 billion in assets across 1,345 accounts, placing it among the largest firms in the nation by assets under management (AUM). Heritage Wealth Advisors has a small group, including 16 financial advisors. Heritage Wealth Advisors is not a registered broker-dealer, signifying that the advisor 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 tradable financial investments like options, equities and bonds.
Heritage Wealth Advisors oversees 1,318 of the company's accounts on a discretionary basis. Discretionary management is a structure in which transaction decisions are made by an investment advisor without needing to seek client approval. It also administers 27 non-discretionary accounts totaling $64.5 million in assets under management. The firm administers roughly $2.3 million in assets for each client account. The average financial advisor at Heritage Wealth Advisors manages around 84 client accounts.
The firm's headquarters is at 919 East Main Street, Richmond, Virginia 23219. Heritage Wealth Advisors is legally allowed to provide services to customers across 8 states, including California, Florida, Georgia, New York, North Carolina, Pennsylvania, Texas and Virginia.
Assets Under Management
Number of Advisors
Disclosures
Office Location
Heritage Wealth Advisors by the Numbers
![](https://d31s10tn3clc14.cloudfront.net/imgs/falc/assets@2x.png)
$3.1 billion
![](https://d31s10tn3clc14.cloudfront.net/imgs/falc/employees@2x.png)
30
![](https://d31s10tn3clc14.cloudfront.net/imgs/falc/accounts@2x.png)
1,345
![](https://d31s10tn3clc14.cloudfront.net/imgs/falc/account-size@2x.png)
$2.3 million
Products and Services
Heritage Wealth Advisors offers a variety of financial services, which can consist of financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, pension consulting services, selection of other advisers and other services. In the past financial year, the company provided 251-500 of its accounts with financial planning services. The firm does sell products or offer services apart from investment advice to its customers.
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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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 usually vary depending on which service is provided. Fees charged by Heritage Wealth Advisors most likely are comprised of the following fee types: asset-based, hourly or fixed. The firm does not participate in a wrap fee program, in which the firm offers a bundle of services for a single 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
Unavailable
Types of Clients
It provides services to retail investors, high net worth investors, charitable organizations and corporations. Out of its 1,345 customers, Heritage Wealth Advisors's largest client is high net worth investors, though it also caters to 204 high-net-worth individuals. The SEC defines a high-net-worth individual as a person who has at least $750,000 in AUM 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 the company's accounts are from outside of the U.S.
- High-Net-Worth Individuals* - 57.3%
- Other Individuals - 33.43%
- Corporations - 5.06%
- Charitable Organizations - 4.21%
* 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
Heritage Wealth Advisors does not have any disclosures.
Please visit its Form ADV for more details.
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Financial Advisors at Heritage Wealth Advisors
Richmond, VA
Richmond, VA
Richmond, VA
Richmond, VA
Richmond, VA
Richmond, VA
Sewickley, PA
Richmond, VA
Richmond, VA
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