Enso Wealth Management is a fee-based financial advisor firm headquartered in Petaluma, Sonoma and Lafayette, California. Enso has a small team of advisory employees. Although the firm is centered around investment portfolio management, those looking for financial planning services will find them here too.
This is a fee-based firm, which means its compensation structure includes both advisory fees and third-party comissions for the sale of financial products. Conversely, a fee-only firm earns all of its income from client-paid fees.
Enso Wealth Management Background
Enso Wealth Management opened in 2014 when it became the successor firm to DeCota Wealth Management, LLC. The firm is largely employee-owned, as its shares are split among James C. DeCota, Noah B. Jacobson, William G. DeMar, Taylor M. Greenleaf, Andrew E. Thompson, Joseph K. Stern, David R. Jones, Joanna C. Aiken, Toussaint Bailey and Mark Clure. Working at Enso clients will find advisory certifications such as certified financial planner (CFP), accredited asset management specialist (AAMS) and retirement management advisor (RMA).
Enso Wealth Management Client Types and Minimum Account Sizes
Most of the money that Enso Wealth Management manages belongs to either a high-net-worth individual or non-high-net-worth individual. Enso maintains advisory relationships with estates, trusts, businesses, charitable organizations, endowments and retirement plans as well.
You don't need to meet an account minimum in order to subscribe to Enso Wealth Management’s comprehensive portfolio management services. On the other hand, financial planning calls for a $3,500 minimum fixed fee.
Services Offered by Enso Wealth Management
Enso Wealth Management has a wide range of consulting, financial planning and portfolio management services that are customized to each client’s needs. Check out this list of its offerings:
- Comprehensive portfolio management
- Combination of asset management, financial planning and financial consulting
- Individualized investment advice
- Proprietary investment research
- Tax mitigation
- Cash flow maximization
- Efficient wealth transfers
- Philanthropic gift planning
- Collaboration with your other financial professionals
- Accountants
- Insurance agents
- Estate attorneys
- Financial planning and consulting
- Personal and business financial planning
- Retirement planning
- Estate planning
- Investment planning
- Education cost planning
- Personal and corporate tax planning
- mortgage/debt analysis
- Real estate analysis
- Cost segregation review
- Insurance review
- Lines of credit evaluation
- Pension consulting
- Plan management
- Establishment
- Monitoring
- Reviews
- Investment planning and review
- Pension plan structure
- Plan participant education
- Plan management
- Third-party money managers
- Possible integration with third-party money managers for 401(k)s
Enso Wealth Management Investment Philosophy
When you begin an advisory relationship, an Enso Wealth Management advisor will first have a face-to-face meeting with you. This is to gain some insights into the client’s personal risk tolerance, time horizon, liquidity needs and overall financial goals that will eventually dictate what his or her portfolio will look like. Once the firm feels comfortable with all of this information, it will create and lay out a specific investment plan that could include exchange traded funds (ETFs), mutual funds, individual stocks, bonds and other investments like unregistered securities.
Just because the aforementioned plans have been put into action doesn’t mean that Enso feels its job is complete. In other words, the firm will consistently review your investments to ensure that they’re performing as intended. Should returns cause your portfolio to fall out of its pre-created asset allocation, your advisor will rebalance your assets as necessary.
Fees Under Enso Wealth Management
Enso Wealth Management’s comprehensive portfolio management services abide by a fee schedule that’s based on a percentage of your assets under management. While these rates are listed as annual percentages, they are charged to your account on a quarterly basis, in advance. The type of account you have and your balance will determine what fee rates you receive.
| Fees for Individual, Non-ERISA 401(k) Account Management | |
| Household Assets Under Management | Annual Fee |
| First $1,000,000 | 1.40% |
| Next $4,000,000 | 1.10% |
| Over $20,000,000 | Negotiable |
Accounts with less than $250,000 are charged a flat annual fee of $2,000.
| Fees for ERISA 401(k) Account Management | |
| Household Assets Under Management | Annual Fee |
| $0 - $999,999 | 0.75% |
| $1,000,000 - $3,000,000 | 0.50% |
| $3,000,000 - $5,000,000 | 0.40% |
| Over $5,000,000 | Negotiable |
Financial planning and consulting clients must pay a fixed fee that typically falls somewhere between $3,500 and $20,000. A similar fixed fee schedule is afforded to pension consulting clients, though the fee range is usually closer to between $3,500 and $5,000. Lastly, if you take Enso up on its recommendation of a third-party money manager, you’ll pay a subscription fee once a month. The firm does not give any indication as to what these charges might be.
What to Watch Out For
Enso Wealth Management has no legal or regulatory disclosures listed on its Form ADV.
Advisors at Enso Wealth Management may be dually reigstered as insurance agents or broker-dealers. As a result, they can receive commissions for the sale of securities or insurance products to clients. While this is a potential conflict of interest, it's important to remember that the firm is a fiduciary. This makes it legally obligated to act in the best interests of clients at all times.
Opening an Account With Enso Wealth Management
The best way to reach Enso Wealth Management about becoming a client is to email its advisory staff. If you prefer calling, the firm’s branch locations all have reachable phone numbers that you can find on its website.
All information is accurate as of the writing of this article.
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