Segment Wealth Management, LLC (Houston)

Name: Segment Wealth Management, LLC
Address: 3040 Post Oak Blvd., Houston, TX, 77056
Telephone: 713-800-7150

Segment Wealth Management, LLC is a large advisory firm based in Houston. It manages $607.37 million of regulatory assets for 190 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of Louisiana and Texas.

Segment Wealth Management provides portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Segment Wealth Management: assets under management

The assets under management (AUM) of Segment Wealth Management, LLC is $607.37 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 102% since the beginning of its operation, and $916.85 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $607.37 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $3.2 million each.

Segment Wealth Management has custody of $281.57 million in cash and securities for 112 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 71% of the total AUM. The second-largest asset type is state and local bonds, which make up 13% of the firm’s portfolio. Investments in cash and cash equivalents form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Segment Wealth Management, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Segment Wealth Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Segment Wealth Management is high net worth individuals with 96 clients and $574.65 million of assets under management. Among the 9 most similar advisory firms, Segment Wealth Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $606.41 million for 189 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Segment Wealth Management doesn't advise any private funds.

Careers at Segment Wealth Management, LLC

The company employs 8 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Gab Interests	Managing member	1 Feb 2006	75% - 100%	27-0912410
Gwen C. Wilmeth	Chief compliance officer	1 Jul 2012	Other	6093711

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Gil A Baumgarten	Owner	1 Sep 2009	75% - 100%	1373434

Based in Houston

The principal office where Segment Wealth Management, LLC performs its advisory services is located at 3040 Post Oak Blvd., Houston, TX 77056, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 713-800-7150 or by fax 713-800-7066. The normal business hours are 7:30am to 4:30pm on Monday - Friday. You can find more information about the New York firm at segmentwm.com.