Dovetail Wealth Management, LLC (Taylor)

Name: Dovetail Wealth Management, LLC
Address: 301 North Main Street, Taylor, TX, 75674
Telephone: (512) 352-1613

Dovetail Wealth Management, LLC is a large advisory firm based in Taylor. It manages $120.71 million of regulatory assets for 414 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdiction of Texas.

Dovetail Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Dovetail Wealth Management: assets under management

The assets under management (AUM) of Dovetail Wealth Management, LLC is $120.71 million. The firm's AUM has grown by 20% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $120.46 million in discretionary accounts and $253.38 thousand in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $291.66 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $253.38 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 58% of the total AUM. The second-largest asset type is state and local bonds, which make up 27% of the firm’s portfolio. Investments in cash and cash equivalents form 11% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Dovetail Wealth Management, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Dovetail Wealth Management serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of Dovetail Wealth Management is individuals with 388 clients and $71.44 million of assets under management. Among the 9 most similar advisory firms, Dovetail Wealth Management has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $120.71 million for 414 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Dovetail Wealth Management doesn't advise any private funds.

Careers at Dovetail Wealth Management, LLC

The company employs 4 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives 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 doesn’t compensate employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Louis Roy Hughes	Managing member	1 Jan 2018	75% - 100%	2987735
Michael Anthony Derosa	Chief compliance officer	1 Jan 2018	Other	4079942
Ann Hughes	Member	1 Mar 2019	Other	7089666

Based in Taylor

The principal office where Dovetail Wealth Management, LLC performs its advisory services is located at 301 North Main Street, Taylor, TX 75674, 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 (512) 352-1613. The normal business hours are by appointement on Monday - Friday. You can find more information about the New York firm at dovetailwealth.com.