Hazlett, Burt & Watson, Inc. (Wheeling)

Name: Hazlett, Burt & Watson, Inc.
Address: 1300 Chapline Street, Wheeling, WV, 26003
Telephone: 304-233-3312

Hazlett, Burt & Watson, Inc. is a large advisory firm based in Wheeling. It manages $715.6 million of regulatory assets for 2,423 client accounts. It has been registered with the SEC as an adviser since 2006 and has operated in the jurisdictions of Ohio, Pennsylvania, and West Virginia.

Hazlett, Burt & Watson 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.

Hazlett, Burt & Watson: assets under management

The assets under management (AUM) of Hazlett, Burt & Watson, Inc. is $715.6 million. The firm's AUM has grown by 2743% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $312.85 million in discretionary accounts and $402.75 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $425.64 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $238.6 thousand.

Hazlett, Burt & Watson has custody of $603.65 million in cash and securities for 2,395 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 61% of the total AUM. The second-largest asset type is investment and business development companies, which make up 34% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Hazlett, Burt & Watson, Inc. for their services and products based on a percentage of assets under management. 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 George Sperry Jr Weaver serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of George Sperry Jr Weaver is high net worth individuals with 401 clients and $391.03 million of assets under management. Among the 10 most similar advisory firms, Hazlett, Burt & Watson has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $713.12 million for 2,421 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.

Hazlett, Burt & Watson doesn't advise any private funds.

Careers at Hazlett, Burt & Watson, Inc.

The company employs 24 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. 24 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 don’t receive compensation from other entities for client referrals.

George Sperry Jr Weaver has been acting as President since 1 Sep 1973. Jason Lee Marsh joined the executive team most recently as the Sr Vp / Coo / Director.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
George Sperry Jr Weaver	Director	1 Sep 1973	Other	460587
Stuart Fulton Bloch	Executive vp, director	1 Sep 1973	Other	722508
Harold Bruce Burech	Director /sr vp	1 Apr 1981	Other	856313
John Raymond Jr Forbes	Exec vp / director	1 Apr 1995	Other	210957
Inc. Hb&W	Parent company	1 Sep 1999	75% - 100%	55-0769911
Walker Peterson Jr Holloway	Sr vp / director	1 Feb 2000	Other	1013381
George Sperry Iii Weaver	Sr exec vp / director	1 Apr 2005	Other	1061710
Timothy Morgan Bidwell	Exec vp / cfo / chief compliance officer / director	1 Apr 2005	Other	4296834
Marilynn Sue Echols	President / director / coo	1 Apr 2005	Other	818946
Michael Thompson Barickman	Exec vp / director	1 Feb 2006	Other	1535665
Marilynn Sue Echols	Executive vice president / director	1 Aug 2011	Other	818946
Mark Steven Prince	President / ceo / chairman	1 Aug 2011	Other	1485873
Jason Lee Marsh	Sr vp / coo / director	1 Mar 2014	Other	4792963

Based in Wheeling

The principal office where Hazlett, Burt & Watson, Inc. performs its advisory services is located at 1300 Chapline Street, Wheeling, WV 26003, which is also the mailing address of the firm. An additional office of the firm is in Lancaster, PA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 304-233-3312 or by fax 304-233-3870. The normal business hours are 8:00 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at hazlettburt.com.