Castle Wealth Management LLC (West Palm Beach)

Name: Castle Wealth Management LLC
Address: 1400 Centrepark Blvd, West Palm Beach, FL, 33401
Telephone: 561-686-9604

Castle Wealth Management LLC is a large advisory firm based in West Palm Beach. It manages $308.01 million of regulatory assets for 741 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of California, Connecticut, Florida, and Pennsylvania.

Castle Wealth Management provides financial planning services, portfolio management for individuals and small businesses, 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.

Castle Wealth Management: assets under management

The assets under management (AUM) of Castle Wealth Management LLC is $308.01 million. The firm's AUM has grown by 0% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $273.54 million in discretionary accounts and $34.47 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $386.36 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.04 million.

Castle Wealth Management has custody of $15.17 million in cash and securities for 14 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 35% of the total AUM. The second-largest asset type is exchange traded securities, which make up 30% of the firm’s portfolio. Investments in investment grade corporate bonds form 15% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Castle Wealth Management LLC for their services and products based on a percentage of assets under management and hourly charges. 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 Castle Wealth Management serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Castle Wealth Management is individuals with 152 clients and $182.78 million of assets under management. Among the 7 most similar advisory firms, Castle Wealth Management has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $287.24 million for 186 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.

Castle Wealth Management doesn't advise any private funds.

Careers at Castle Wealth Management LLC

The company employs 12 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. 6 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 people 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
Christina L Worley	Chief compliance officer	1 Oct 1997	75% - 100%	2417412
Gary B. Sellari	Secretary & treasurer	1 Oct 1997	Other	4495052

Based in West Palm Beach

The principal office where Castle Wealth Management LLC performs its advisory services is located at 1400 Centrepark Blvd, West Palm Beach, FL 33401, 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 561-686-9604 or by fax 561-584-5080. The normal business hours are 9:00 am to 5 pm on Monday - Friday. You can find more information about the New York firm at castlewm.com.