Durbin Bennett Private Wealth Management, LLC (Austin)

Name: Durbin Bennett Private Wealth Management, LLC
Address: 1601 South Mo Pac Expressway, Austin, TX, 78746
Telephone: 512-610-6930

Durbin Bennett Private Wealth Management, LLC is a large advisory firm based in Austin. It manages $1.04 billion of regulatory assets for 1,121 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Louisiana and Texas.

Durbin Bennett Private Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, selection of other advisers, and consulting. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Durbin Bennett Private Wealth Management: assets under management

The assets under management (AUM) of Durbin Bennett Private Wealth Management, LLC is $1.04 billion. 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 $1 billion in discretionary accounts and $44.25 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $903.17 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.4 million.

Durbin Bennett Private Wealth Management has custody of $84.78 million in cash and securities for 32 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 56% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 22% of the firm’s portfolio. Investments in cash and cash equivalents form 12% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Durbin Bennett Private 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 Durbin Bennett Private Wealth Management serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Durbin Bennett Private Wealth Management is high net worth individuals with 139 clients and $788.74 million of assets under management. Among the 9 most similar advisory firms, Durbin Bennett Private Wealth Management has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.04 billion for 241 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.

Durbin Bennett Private Wealth Management also advises several private funds. Namely, two other private funds. The minimum investment commitment required of non-related persons is $1,000,000 for each fund.

Careers at Durbin Bennett Private Wealth Management, LLC

The company employs 17 people that are either part- or full-time employees. 76 percent of the employees work as investment advisers or researchers. 13 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 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
Richard Baldwin Bennett	Partner	1 Nov 2000	25% - 50%	4332494
Brent Lasater Durbin	Partner	1 Nov 2000	Other	4332499
Matthew Paul Jachimiak	Partner, chief investment officer	1 Jul 2013	Other	4821079
Paul Darter Lueb	Partner, senior advisor	1 Jul 2013	Other	4056086
Margaret Huang Casey	Chief operations officer, chief compliance officer	1 Apr 2014	Other	4174152
Scott Bolding	Chief financial officer	1 Sep 2014	Other	6462122
Jarrod Alan Winkcompleck	Member	1 Oct 2015	Other	3127068
Tylor Bordelon Seaman	Member	1 Jan 2017	Other	6163536

Based in Austin

The principal office where Durbin Bennett Private Wealth Management, LLC performs its advisory services is located at 1601 South Mo Pac Expressway, Austin, TX 78746, 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 512-610-6930 or by fax 512-610-6931. The normal business hours are 8:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at durbinbennett.com.