Wealthway Financial Advisors (Norfolk)
Wealthway Financial Advisors is a large advisory firm based in Norfolk. It manages $118.24 million of regulatory assets for 539 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of North Carolina and Virginia.
Wealthway Financial Advisors provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, publication of newsletters, and educational radio show. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.
Wealthway Financial Advisors: assets under management
The assets under management (AUM) of Wealthway Financial Advisors is $118.24 million, all of which is managed in discretionary accounts. The company doesn't manage any assets belonging to foreign clients.
Investments
The firm invests in investment and business development companies the most. They account for 72% of the total AUM. The second-largest asset type is exchange traded securities, which make up 25% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.Fees & Commissions
The advisory firm has several streams of revenue. Clients pay Wealthway Financial Advisors 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 Wealthway Financial Advisors serves?
The firm provides services to individuals and high net worth individuals. The largest group of clients of Wealthway Financial Advisors is individuals with 187 clients and $98 million of assets under management. Among the 9 most similar advisory firms, Wealthway Financial Advisors has the highest percentage of individuals out of all clients.
The amount of regulatory assets under management is $118 million for 190 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.
Wealthway Financial Advisors doesn't advise any private funds.
Careers at Wealthway Financial Advisors
The company employs 3 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. 2 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.
Based in Norfolk
The principal office where Wealthway Financial Advisors performs its advisory services is located at 440 Monticello Ave, Suite 1620, Norfolk, VA 23510, 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 757-456-2200 or by fax 757-456-9854. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at wealthwayadvisors.com.
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