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Denver Wealth Management Review

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Denver Wealth Management

Denver Wealth Management is a financial advisor firm based in Greenwood Village, Colorado, a suburb of Denver, with just over $73 billion in assets under management. The firm’s clients are mostly individuals and high-net-worth individuals, but the firm also advises a handful of pension and profit-sharing plans. Clients are generally required to have a minimum account size of $5,000.

The firm was founded in 2012 by two financial advisors from the firm Waddell & Reed. Today, Denver Wealth Management offers a range of services to its clients, including investment management, financial planning, retirement plans, estate plans and tax plans.

Denver Wealth Management Background

Denver Wealth Management was founded by Blair Braden and Zachary Bouck in 2012. After working as a financial advisors at Waddell & Reed in Denver, Braden founded the firm to supply what he saw as a need for education regarding wealth preservation. Although it has yet to celebrate its 10th birthday, the firm has grown rapidly since its founding, providing advisory services to more than 400 clients during the most recent fiscal year.

What Types of Clients Does Denver Wealth Management Accept?

Denver Wealth Management serves approximately 400 clients, and the overwhelming majority of these clients are individuals. The firm also advises high-net-worth individuals and pension and profit-sharing plans.

Denver Wealth Management Minimum Account Sizes

In order to work with Denver Wealth Management in any capacity, you’ll need at least $5,000. Above that, higher account sizes will provide access to more services. For instance, an account size of at least $500,000 will mean a dedicated certified financial planner (CFP) and face-to-face advising sessions.

Services Offered by Denver Wealth Management

 Denver Wealth Management offers a fairly standard range of services to its clients, including the following:

  • Financial Planning
    • Retirement planning
    • Tax planning
    • College planning
    • Estate planning
    • Money-purchasing plans
    • Profit-sharing plans
  • Investment Management
    • Traditional management
    • Digital wealth advisor
  • Insurance
    • Disability
    • Life
    • Long-term care

Certain services will, of course, be more applicable to certain types of clients. For instance, the firm won't offer profit-sharing plans to individuals, and it won't offer college planning services to pension plans.

Denver Wealth Management Investment Philosophy

When it comes to its investing philosophy, Denver Wealth Management takes several factors into account, including the personal and financial variables in your life, your risk tolerance, when you’re planning to retire and how long of a retirement you’re planning for.

The firm also relies on its own research as well as that of other institutions to determine the appropriate allocation of assets. It will determine the appropriate asset classes based on your variables as well as how heavily to weight the selected classes. The firm believes in holding on to investments over the long term rather than focusing on short-term gains.

Fees Under Denver Wealth Management

For investment management services, fees are charged quarterly and are generally based on the rates provided in this table:

Assets Under Management Annual Rate
First $100,000 1.50%
Next $150,000 1.30%
Next $250,000 1.20%
Next $500,000 1.10%
Next $1,000,000 1.00%
Over $2,000,000 Negotiable

Fees for financial planning services can vary but won’t exceed a flat fee of $10,000 or an hourly fee of $350. Retirement planning fees are generally levied as a quarterly fee of 1.00% of assets up to $1,000,000.

All fees are negotiable depending on the size and complexity of the account, and they may be negotiated at the discretion of the firm. A rough estimate of what you would pay in fees will be determined before you establish an advisory relationship with the firm.

The below table shows how Denver Wealth Management's fees compare to the national median. Remember that these are only estimates and actual fees may vary.

Estimated Fee Comparison*
Your Assets Denver Wealth Management National Median Advisory Fees**
$500K $6,450 $5,000
$1MM $11,950 $8,500 - $10,000
$5MM Negotiable $25,000 - $32,500
$10MM Negotiable $50,000
*Fee estimates only consider the maximum base fees for the services each firm provides. You may also pay manager fees and other fees, which can vary in amount. **All figures are based on median fee levels according to Bob Veres' 2017 Planning Profession Fee Survey. The above estimates solely take into account AUM-only fees. Total costs will likely be higher due to additional expenses.

What to Watch Out For

Advisors at Denver Wealth Management are also registered representatives of LPL Financial, which is a registered securities broker-dealer. While advisors won’t receive commissions in their capacity as Denver Wealth Management advisors, they are permitted to conduct security transactions and receive commissions for those transactions in their capacity as LPL Financial representatives. This ability generates a potential conflict of interest since advisors will be incentivized to steer clients toward securities that will generate commissions.

Additionally, Denver Wealth Management advisors may be licensed as independent insurance professionals, which means they could earn commissions by selling insurance products to clients. A conflict of interest also exists here because advisors would have an incentive to recommend insurance products to clients instead of focusing exclusively on the client’s needs.

All that said, the firm is bound by fiduciary duty, which means that it’s bound by law to always act in the best interest of its clients. So while you should be aware of the financial incentives the firm has, you can be assured that its actions can’t be in your detriment.

Disclosures

Denver Wealth Management does not have any disclosures.

Opening an Account With Denver Wealth Management

If you’re interested in the firm’s Digital Wealth Advisor, you can receive a free proposal by visiting the firm’s website and clicking on Services, then Digital Wealth Advisor. For other services, you can call the firm at (303) 261-8015.

Where Is Denver Wealth Management Located?

Denver Wealth Management has four offices, two of them in Greenwood Village, Colorado, one of them in Denver, Colorado and one of them in Durango, Colorado. Its main office is located on the corner of DTC Boulevard and East Prentice Avenue in Greenwood Village.

Tips for Finding a Financial Advisor

  • Finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in your area in 5 minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.
  • If you don’t have enough money to meet the account minimums of many traditional advisors, but you still want to invest, you may be interested in a robo-advisor. Robo-advisors typically have lower minimums while also helping you reach your investment and retirement goals.

How Many Years $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. This reflects the typical return on a conservative investment portfolio. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research