Executive Wealth Management is a financial advisor firm headquartered in Brighton, Michigan with just over $700 million in assets under management. The vast majority of the firm’s clients are individuals, but it also provides services to high net worth individuals, pension plans, charitable organizations, corporations and estates.
Executive Wealth Management was founded in 1981 by Albert P. Herzog III. Today, Herzog still serves as one of four directors, and the firm has four offices and works with more than 2,600 clients. Executive Wealth Management provides a range of services to its clients including portfolio analysis and financial planning.
Executive Wealth Management Background
Executive Wealth Management was founded by Albert P. Herzog III in 1981. Since then, the firm has expanded to four different offices in the state of Michigan. Executive Wealth Management also operates in conjunction with Fortunatus Investments, a proprietary money management platform. Using research and other insights from Fortunatus Investments, the firm develops individualized wealth management strategies for its clients.
What Types of Clients Does Executive Wealth Management Accept?
Executive Wealth Management offers its services to a range of clients, including individuals, high net worth individuals, pension and profit-sharing plans, retirement plan participants, trusts, estates, charitable organizations, corporations and other businesses.
Executive Wealth Management Minimum Account Sizes
Executive Wealth Management doesn’t have a minimum account size for its Advisor Managed Portfolio service. However, the firm charges a minimum annual fee of $35, so accounts smaller than $7,000 will be charged more than what the standard fee schedule would suggest. To take part in the firm’s wrap fee program, you’ll need an initial investment of at least $2,000.
Services Offered by Executive Wealth Management
- Fortunatus Separately Managed Wrap Fee Program
- Advisor Managed Portfolios
- 401(k) portfolio allocation recommendations
- Portfolio management within retirement plans
- Pension consulting
- Financial planning
Executive Wealth Management Investment Philosophy
Executive Wealth Management describes its investing approach as “disciplined, risk adjusted and timely,”
When it comes to analyzing securities, Executive Wealth Management relies on fundamental analysis and technical analysis to factor in both overall economic conditions and how past market movements could influence future trends. The firm looks to identify securities and investment products that the market is undervaluing, then build diversified portfolios across several asset classes.
The firm uses a combination of long-term purchase strategies, short-term purchase strategies, short sales, options and margin transactions to create the perfect asset allocation for each client. Each asset allocation will be tailored to the risk tolerance and financial preferences of the specific client.
Fees Under Executive Wealth Management
For the Advisor Managed Portfolio service, fees are split between assets management fees and administrative fees. Asset management fees adhere to the following schedule:
|Asset Management Fees|
|Assets Under Management||Fee Percentage|
|$0 - $249,999||1.50%|
|$250,000 - $499,999||1.25%|
|$500,000 - $999,999||1.00%|
The Administrative Fee schedule is as follows:
|Assets Under Management||Fee Percentage|
|$0 - $1,999,999||0.50%|
|$2,000,000 - $2,999,999||0.45%|
|$3,000,000 - $4,999,999||0.40%|
|$5,000,000 - $7,499,999||0.35%|
|$7,500,000 and above||0.30%|
Financial planning fees at Executive Wealth Management are typically a fixed fee between $250 and $2,000, depending on the size and the complexity of the circumstances. All fees will be decided upon before entering into any agreement. The below table shows how Executive Wealth Management's asset management fees (not including administrative and financial planning fees) compare to the national median. Remember that these are only estimates and actual fees may vary.
|Estimated Fee Comparison*|
|Your Assets||Executive Wealth Management||National Median Advisory Fees**|
|$1MM||$11,875||$8,500 - $10,000|
|$5MM||$41,875||$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
Executive Wealth Management is related through common ownership and control to Fortunatus Investments, LLC, and it pays Fortunatus for the model portfolios used in its Fortunatus Separately Managed Accounts. Because many Executive representatives have indirect ownership interest in Fortunatus, those representatives have an incentive to recommend that their clients enroll in the Fortunatus Separately Managed Account program. This incentive creates a potential conflict of interest, which the firm will disclose before entering into any sort of relationship.
Executive Wealth Management is bound by fiduciary duty, which means that it is legally obligated to act in its client’s best interest in all matters.
Executive Wealth Management doesn’t have any disclosures.
Opening an Account With Executive Wealth Management
To get in touch with Executive Wealth Management, you have a few different options. You can visit the firm’s website and fill out the contact form with your name, email address and message. You can also look on the website and find which office is closest to you, then either call or visit in person. If you have a question and you don’t want to use the contact form, you can email email@example.com.
Where Is Executive Wealth Management Located?
Executive Wealth Management is in Brighton, Michigan, a suburb in the Detroit metropolitan area. Its office is on the corner of W North Street and S West Street, just off Main Street.
Tips for Finding a Financial Advisor
- You can simplify your search for a financial advisor with SmartAsset’s free financial advisor matching tool. Simply answer a short questionnaire and the tool will pair you up to three financial advisors in your area who can help you meet your financial goals.
- Identifying which financial advisor is best for you will depend on the kinds of services you need. For example, you may not want an advisor who focuses on life insurance if you’re just starting your career and primarily want to build your retirement savings. You can determine an advisor’s expertise by looking at his or her certifications. Each certification has education and experience requirements that an individual must meet in order to qualify.