Annex Wealth Management is a fee-only advisory firm based in Brookfield, Wisconsin. The firm also has several other branch offices throughout The Badger State, plus ones in Naples, Florida and Libertyville, Illinois. The staff includes advisors with certifications including Certified Financial Planner™ (CFP®), certified public accountant (CPA) and chartered financial analyst (CFA).
The financial advisor firm mainly works with individuals of both a high-net-worth and non-high-net-worth nature. Annex also counts pension and profit-sharing plans, charitable organizations, government entities and corporations as clients. In addition to its traditional investment advisory and financial planning services, Annex also has a few other online and full-service offerings clients can take advantage of.
Annex Wealth Management Background
Annex Wealth Management was founded in 2001. It is the sole member to three other companies: Annex Insurance Services LLC, a licensed corporate insurance agent; Annex Advisory Services, LLC, the investment advisory arm of the company registered with the SEC; and Annex Tax Services, LLC. The companies are collectively referred to as Annex Wealth Management.
Each of the subsidiary companies is wholly owned by Annex Wealth Management. Annex Wealth Management is wholly owned by Dave J. Spano, the firm’s president and CEO.
Annex Wealth Management Client Types and Minimum Account Sizes
Annex Wealth Management primarily serves individual investors above and below the high-net-worth threshold. It also works with pension and profit-sharing plans, trusts, estates, charitable organizations, business entities and government entities.
Annex Wealth Management does not list a required minimum account size for its client accounts.
Services Offered by Annex Wealth Management
Annex Wealth Management offers investment management, asset selection, asset allocation and rebalancing to its clients. Investment advice is offered either through individual consultations or continuously on a discretionary basis.
Additionally, the firm offers the following wealth management and financial planning services:
- Private wealth management
- Cash flow planning
- Tax planning and minimization
- Retirement planning
- Legacy and estate planning
- Education planning
- Risk management
- Insurance planning and assessment
- Divorce financial consulting
- Ongoing financial advice
- Pension consulting
Annex also provides a handful of more robust services, including:
- Annex Ignite: offers clients the ability to gain access to Annex's investment services at a lower cost, in exchange for a more online/remote experience as opposed to in-person
- Annex Private Client: a holistic offering that affords clients a way to "address the complex, multidimensional challenges of managing substantial wealth," and is intended for those with a high net worth
- Annex Comprehensive Wealth: similar to the above, but a bit less robust, as it specifically focuses on financial planning, tax planning, estate planning and investing
Annex Wealth Management Investment Philosophy
Annex Wealth Management employs a core and tactical investment philosophy, which focuses on creating globally diversified portfolios for its clients. Annex explains in its Form ADV that it strives to “combine the benefits of a long-term core portfolio with the potential for reduced risk and/or enhanced returns through tactical investment selections.”
Potential investments are wide-ranging and could include cash, various tiers of domestic and foreign stocks, bonds, commodities, REITs, emerging market stocks/bonds and more. At a higher level, portfolios often include some combination of ETFs, individual company stocks and actively managed mutual funds. The risk level attributed to a client's portfolio will generally range from conservative to aggressive, but will ultimately depend on the client's stated goals and financial situation.
Fees Under Annex Wealth Management
Unlike many firms that have a set fee structure, Annex makes a point of having its wealth management fees subject to negotiation. The firm bases its fees on the “scope and complexity” of the services offered to each client, according to its Form ADV. It also notes that clients’ fees will never exceed a maximum rate of 1.25% of assets under management per year, though fees generally average around 1% annually. Fees are charged on a quarterly basis and are based on the total amount in a client’s account on the last day of the quarter.
For consulting services, Annex may charge an asset-based, hourly or flat fee. Flat fees start at $1,000 and depend on the scope and duration of services. The firm will give clients a written estimate before it provides the services.
As a fee-only firm, Annex and its advisors do not earn compensation from the sale of specific securities or insurance products. This is as opposed to a fee-based firm, which does have the ability to earn commissions from those and other similar transactions.
What to Watch Out For
There are no disclosures present on Annex Wealth Management's SEC-filed Form ADV.
Opening an Account With Annex Wealth Management
If you are interested in opening an account with Annex, you can visit the firm's website to find contact information.
All information is accurate as of the writing of this article.
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