Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Selection of Others Advisors
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Charitable Organizations
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
- Fixed Fees (Other than subscription)
- Performance-based Fees
Private Wealth Management, Inc. Overview
Private Wealth Management, Inc. is a fee-only registered investment advisory firm located in Memphis, TN. The firm has been in business since 2002 and provides investment advice to clients. As a registered investment advisory firm, Private Wealth Management adheres to strict regulatory guidelines which ensures clients receive unbiased advice. Private Wealth Management offers financial planning and portfolio management services for both individuals and small businesses. Their team of experienced advisors work closely with clients to develop customized investment strategies that align with their financial goals. Private Wealth Management also provides clients with access to other advisors. This allows clients to benefit from a wider range of expertise and ensures that their needs are met in the most effective way possible. Overall, Private Wealth Management is a trusted advisor for individuals and small businesses seeking professional financial advice.
PRIVATE WEALTH MANAGEMENT, INC. caters to a diverse array of clients, encompassing individuals, high net worth individuals, and charitable organizations. With years of industry experience, the firm is well-equipped to provide a range of customized services that help clients manage their wealth effectively. One of the key strategies employed by PRIVATE WEALTH MANAGEMENT, INC. is to consider the unique financial goals and risk tolerance of each client. As such, the firm works closely with each client to identify their needs and tailor their services accordingly. In terms of fees, PRIVATE WEALTH MANAGEMENT, INC. offers a number of structures depending on the service provided. This includes a percentage of assets under management (AUM), hourly billing, fixed fees, and performance-based fees. The percentage of AUM structure is commonly used by many wealth management firms, whereby clients are charged a certain percentage of their total assets under management. Hourly billing is also available for clients seeking financial advice or assistance with specific tasks. For clients looking for more specialized services, fixed fees may be offered, typically for a specific project or task. Finally, performance-based fees can be levied as a percentage of the profits earned on investments. By providing a range of flexible fee structures, PRIVATE WEALTH MANAGEMENT, INC. enables clients to choose the option that best suits their needs and preferences.
Typical Clients, Fee Structures & Investment Minimum
The investment minimum for Private Wealth Management, Inc. is $1,000,000 for money management services. However, the firm has discretion to waive the account minimum in certain circumstances, such as when the client anticipates adding additional funds to the account bringing the total to $1,000,000 within a reasonable time. Exceptions also apply to employees of Advisor and their relatives, or relatives of existing clients. Additionally, the firm assesses a minimum annual fee of $6,000 to accounts receiving ongoing asset management services.
How This Office Can Help Elm Grove, WI Residents
Private wealth management provides assistance to clients in effectively managing their financial resources to achieve their financial objectives. The residents of Elm Grove, WI may face various financial situations such as managing their retirement savings, inheritance, estate planning, and taxation. Wealth managers provide guidance on investing, tax strategies, and risk management to help clients achieve their long-term financial goals. Additionally, the residents of Elm Grove, WI may require an investment strategy that aligns with their values. A wealth manager can assist clients in incorporating social responsibility into their investing strategy, ensuring that their investments align with their values. Furthermore, individuals who have recently experienced a significant change such as the sale of a business, divorce, or a new inheritance can benefit from private wealth management services. Wealth managers provide a range of services to help clients navigate these changes, understand the financial implications and plan for the future. Overall, private wealth management provides a customized approach to financial management, tailored to each client's unique needs and goals.
Services Offered by Private Wealth Management, Inc.
Core Advisor Services
Financial Planning
Financial planning services encompass the process of devising strategies for your future financial well-being, including preparing for events such as retirement, funding your child's college education, or planning for the transfer of assets.
Portfolio Management for Individuals & Small Businesses
Portfolio management entails the careful selection and strategic management of investment combinations tailored to meet the needs of individuals and small businesses.
Market Timing Services
Market timing services involve the endeavor to generate short-term profits from investments by capitalizing on opportunities to buy at low prices and sell at high prices.
Other Services
Selection of Other Advisors
The firm provides support in selecting and engaging other advisors who possess specialized expertise to complement your financial needs.
Publication of Periodicals or Newsletters
The firm engages in the dissemination of diverse financial educational materials through the publication of periodicals.
Educational Seminars & Workshops
The firm organizes and conducts seminars or workshops aimed at enlightening investors on various financial concepts.
Fee Structures
Financial advisory fees usually are based on the services provided. Fee types charged by Private Wealth Management, Inc. most likely consist of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.
Available
Percentage of Assets Under Management (AUM)
This fee structure charges a percentage of the assets under management by the firm. Fee structures are often tiered based on the amount of assets managed, with higher AUM often charged a lower rate.
Between 0.50% and 2.00% of assets under management (annually), often lower for a robo advisor. Fees are typically charged quarterly by the firm and will show on your investment statement. View typical advisor costs here.
~96% of registered firms offer this fee structure.
If you have $1 million managed by a firm at a 1% management fee, you would be charged $10,000/year to manage your assets (or $2,500 per quarter). This would be automatically deducted from your investment portfolio.
Hourly
Similar to an attorney, a financial consultant might charge fees based on hourly rates. This fee structure can be advantageous when seeking specific or ad hoc advice.
Charges generally span from $150 to $400 per hour, depending on the extent of the services required.
~33% of registered firms offer this fee structure.
If you needed hourly consulting to sell a business or transfer your estate to your children but did not want your assets managed by a firm, you could consult a firm at an hourly rate to answer any questions you may have.
Fixed Fees (Other than subscription)
Fixed fees are a one-time, lump-sum payment rendered for a specific service, such as creating a financial plan without ongoing management or implementation. This option is beneficial if you solely require guidance for a particular objective rather than a long-term consultancy or asset management.
Fixed fees for creating a financial plan often range from $1,000 to $3,000.
~49% of registered firms offer this fee structure.
If you did not want a firm to manage your assets but needed to create a retirement plan, life transition plan such as divorce or loss of a spouse, estate transition plan, business financial plan, or any other financial planning, you could consult with an RIA firm to help you with the creation of that plan.
Performance-based Fees
Advisors typically obtain performance-based fees if a portfolio surpasses a predefined benchmark. This fee is determined through various methods, but is most commonly assessed as a percentage of investment gains. Performance-based fees may incentivize advisors to undertake riskier decisions in pursuit of generating higher returns.
“Two and Twenty” is common among hedge funds with a 2% management fee and a 20% incentive fee above the “hurdle rate,” or performance threshold the fund is compared against.
32% of registered firms offer this fee structure.
A hedge fund earns a 15% return with a 20% performance fee in above the performance of the S&P 500, which grew 7% that same year.
20% of fund growth in excess of S&P 500’s 7% growth for that year = 15% hedge fund growth - 7% S&P 500 growth = 8% difference x 20% = 2% performance fee (in addition to the management fee).
Unavailable
Subscription (Newsletter or Periodical)
Commissions
Occasionally, advisors are compensated through commissions by selling certain financial products, such as mutual funds or life insurance policies, or as a broker-dealer by facilitating the buying and selling of securities. Advisors who receive commissions may be incentivized to make specific suggestions to clients in order to secure a commission. Advisors who operate on a fee-only basis do not earn commissions, whereas fee-based advisors may do so.
Often 3% - 6% of the value of the security.
Only ~3% of registered firms say they offer this fee structure, but other advisors may receive “soft dollars”. Many mutual funds charge 12b-1 fees to cover the promoting and selling of the fund’s shares. While your advisor does not charge these fees, they may receive a kickback for recommending the investment.
An advisor selling their client on a life insurance policy and receiving a commission on the sale of that policy, or recommending a specific investment and receiving a kickback for that recommendation.
Other
Firms occasionally offer unconventional fee structures when charging clients. For more detailed information about a firm’s specific fee structures, please refer to their Form ADV and Part 2 Brochure.
Types of Clients
*The Securities & Exchange Commission defines someone as “high net worth” if they have $750,000 or more in investable assets or $1.5M of estimated total net worth.
This Office Location
Other Office Locations
Firm Headquarters
This firm has no other locations.
State Registrations
Private Wealth Management, Inc. is registered to service clients in the following states:
- Arkansas
- Tennessee
Disciplinary History
Private Wealth Management, Inc. does not have any disclosures. Please visit it's Form ADV for more details.