Doyle Wealth Management is a financial advisor firm based in St. Petersburg, Florida, with more than $800 million in assets under management. It has 11 financial advisors on staff.
The firm was founded in 2005 by husband and wife team Bob and Jillian Doyle. Today, Doyle Wealth Management offers a range of services to its clients, including investment management, financial planning, retirement plans, estate plans and tax plans.
Doyle Wealth Management Background
Bob and Jillian Doyle founded Doyle Wealth Management in 2005. They wanted to expand the wealth management offerings available to the retirement community in Florida, so they started the firm with just the two of them and $45 million in assets under management. Over the last 13 years, the firm has grown in both size and scope, with roughly 700 clients and $845 million in assets under management.
What Types of Clients Does Doyle Wealth Management Accept?
Doyle Wealth Management serves approximately 700 clients. The overwhelming majority of these clients are individuals and high-net-worth individuals. The firm also advises pensions, profit-sharing plans, charitable organizations and corporations or other businesses.
Doyle Wealth Management Minimum Account Sizes
Minimum portfolio sizes are generally set at $350,000, although the firm has the right to negotiate this minimum at its sole discretion.
If you don’t meet those minimum account requirements, you can still work with Doyle Wealth Management through the firm’s Partner Program. The Partner Program is designed for individuals who are at the beginning of their wealth-building careers.
Services Offered by Doyle Wealth Management
Doyle Wealth Management offers a standard range of services to its clients, primarily portfolio management and investment planning. The firm also offers limited financial planning services, which include estate planning, cash flow planning, retirement planning and insurance analysis.
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.
Doyle Wealth Management Investment Philosophy
Doyle looks to deliver a combination of consistent outperformance and risk mitigation to its investors, and it does this through a combination of several strategies. The firm conducts extensive research to identify stocks that offer high probabilities of future potential. It also constructs your portfolio according to your own risk tolerance and financial goals. Finally, the firm seeks to diversify all its portfolios across most economic sectors. Doyle manages its portfolios with an eye on the long term, so it doesn’t engage in short-term practices like market timing.
Fees Under Doyle Wealth Management
For portfolio management services, fees are charged quarterly and are generally based on the rates listed in this table:
|Account Size||Annual Fee|
|Balance above $3,000,000||0.60%|
For financial planning and retirement planning services, fees by and large adhere to the above table as well, although the firm maintains the ability to negotiate a different fee at its discretion. The firm doesn’t charge any performance-based fees.
The below table shows how Doyle 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||Doyle Wealth Management||National Median Advisory Fees**|
|$1MM||$11,000||$8,500 - $10,000|
|$5MM||$39,500||$25,000 - $32,500|
|*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
Doyle Wealth Management participates in institutional advisor programs with TD Ameritrade Institutional and Scottrade Advisor Services, and the firm recommends these programs to its clients for custody and brokerage services. Through its participation in these programs, the firm receives a range of economic benefits that may indirectly influence its choice of these programs over others.
All that said, the firm is bound by fiduciary duty, which means that it’s required by law to act in the best interest of its clients. So while you should be aware of the financial incentives the firm has, you can rest assured that its actions can’t be detrimental to you.
Doyle Wealth Management does not have any disclosures.
Opening an Account With Doyle Wealth Management
You can get in touch with Doyle Wealth Management by filling out the contact form provided on its website. The form requests your first and last name, email address and a brief message or question. If you’d prefer to call the firm, Doyle provides a toll-free phone number on its website as well.
Where is Doyle Wealth Management Located?
Doyle Wealth Management is located in downtown St. Petersburg on the corner of 4th St. N and 3rd Ave N, across the street from the Courtyard Marriot hotel.
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