Davis Wealth Management, LLC is a small, fee-based financial advisor firm that a sole financial advisor runs. According to its SEC-filed Form ADV, this firm has not released its exact number of assets under management (AUM). You can find Davis Wealth in Akron, Ohio.
Davis Wealth Management Background
Founded in 2002, Davis Wealth Management received its licensing from the Ohio Division of Securities in 2003. Brian M. Davis, the firm’s president and managing member, created the firm and remains its full owner to this day.
Despite being the only advisor at Davis Wealth, Brian Davis has a solid seven certifications and designations to his name. He’s a certified financial planner (CFP), accredited investment fiduciary (AIF), certified divorce financial analyst (CDFA), chartered life underwriter (CLU), chartered financial consultant (ChFC), professional plan consultant (PPC) and certified plan fiduciary advisor (CPFA).
Davis Wealth Management Client Types and Account Minimums
Even at its size, Davis Wealth Management offers services for a wide range of clients. In no particular order, it works with individuals, trusts, estates, businesses, charitable organizations, banks, investment companies and pension and profit-sharing plans. The firm also appears to have specialized services for business owners, executives and physicians.
There is no specifically stated set minimum at Davis Wealth Management.
Services Offered by Davis Wealth Management
Davis Wealth Management explicitly says in its Form ADV that it does not provide investment management, asset management or tax preparation services. Therefore, the core of its advisory offerings resides within financial planning options, including:
- Financial planning
- Net worth statement review
- Cash flow review and planning
- Investment account review
- Asset allocation review
- Recommendations for securities repositions
- Strategic tax planning
- Retirement planning
- Insurance policy review and recommendations
- Estate planning
- Education fund planning
- Business planning
Davis Wealth Management Investment Philosophy
Rather than implement a set of model portfolios or a one-size-fits-all approach, Davis Wealth Management builds personalized investment strategies for each client. The considerations involved in this process are your risk tolerance, investment objectives and time horizon, as well as your assets, income, liabilities and expenses.
What separates Davis Wealth from the pack is its strong attention to the existing investments and financial plans of its clients. Financial advisors often talk about the new ideas they have for you, but few address what you already have. As a matter of fact, many of the financial planning services at this firm are paired with a review of your current holdings.
Fees Under Davis Wealth Management
Davis Wealth Management utilizes a negotiable fee schedule for its financial planning services. The variable that decides what rate you’ll pay is the overall complexity of your needs. Davis’ fees could be hourly, fixed or both. Regardless of what combination you receive, the firm will bill you for half the projected cost upfront, with the balance due once your plan is finished.
|Davis Wealth Management Financial Planning Fees|
|Fixed Fees||$150 - $300 per hour|
|Hourly Fees||$300 - $20,000 one-time fee|
The fee schedule at Davis Wealth Management is completely void of any and all performance-based fees. Davis Wealth also reserves the right to halt its work on your plan if payments are more than 60 days past due.
What to Watch Out For
Many financial advisor firms are registered in multiple states, but not Davis Wealth Management. In fact, the firm is only licensed to practice in Ohio. This unfortunately means that any prospective clients located beyond the borders of Ohio cannot engage the firm.
Davis Wealth Management’s lone advisor, Brian Davis, is eligible to earn additional compensation for the sale of securities and insurance products. This is because Davis is both a registered representative of LPL Financial and a broker for various life and health insurance companies. Although these extra commissions represent a conflict of interest, the firm is abides by fiduciary duty, legally binding it to act in its clients’ best interests at all times.
Davis Wealth Management does not have any legal or regulatory disclosures to its name.
Opening an Account With Davis Wealth Management
Interested in starting an advisory relationship with Davis Wealth Management? You can reach the firm over the phone at (330) 777-3329 or by email at firstname.lastname@example.org.
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