Enso Wealth Management, LLC is a fee-based financial advisor firm headquartered in Petaluma, Sonoma and Lafayette, California. Enso has a team of six advisory employees that handle more than $500 million in assets under management (AUM). Although the firm is centered around investment portfolio management, those looking for financial planning services will find them here too.
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 president James DeCota, CCO Joanna Aiken and principals Daren Blonski, Noah Jacobsen, Bill DeMar, Taylor Greenleaf, Drew Thompson and Joe Stern.
Working at Enso clients will find four certified financial planners (CFP), two accredited asset management specialists (AAMS) and one retirement management advisor (RMA).
What Types of Clients Does Enso Wealth Management Accept?
Nearly every dollar 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.
Enso Wealth Management Minimum Account Size
In order to subscribe to Enso Wealth Management’s comprehensive portfolio management service, you’ll need a “household balance” of at least $1.25 million. This term refers to the entire amount of assets you, your spouse and your children in the same household have invested. 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
- 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
- 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|
|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%|
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.
Check out the table below to see how Enso’s fees for its investment management services compare to those at similar financial advisor firms. Note that these fees are only estimates and actual costs may vary.
|*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.|
|Estimated Fee Comparison*|
|Your Assets||Enso Wealth Management Individual, Non-ERISA 401(k) Account Management Fees||National Median Advisory Fees**|
|$1MM||$14,000||$8,500 - $10,000|
|$5MM||$58,000||$25,000 - $32,500|
What to Watch Out For
Many of the third-party money managers that Enso Wealth Management works with are paid an enrollment fee by the firm. By the same token, Enso will occasionally receive a portion of clients’ third-party manager subscription fees back as compensation. This could create a conflict of interest, as the extra pay could incentivize the firm to recommend these services more often. Enso Wealth Management is a fiduciary, though, legally binding it to act in clients’ best interests.
Enso Wealth Management has no legal or regulatory issues listed on its Form ADV.
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 at email@example.com. If you prefer calling, the firm’s three branch locations all have different phone numbers:
- Petaluma, CA: (707) 981-7584
- Sonoma, CA: (707) 938-7414
- Lafayette, CA: (925) 956-1912
Where Is Enso Wealth Management Located?
140 Second Street, Suite 250 in Petaluma, California is where Enso Wealth Management’s primary office is located. Two other California cities, Sonoma and Lafayette, are also home to an Enso Wealth Management branch at 1051 Broadway, Suite E and 3470 Mount Diablo Boulevard, Suite A310, respectively.
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