Global Wealth Management is a financial advisor firm based in Kingston, New Jersey. The firm has more than $521 million in assets under a management and a staff of five financial advisors.
The firm’s individual advisory business is focused exclusively on high-net-worth individuals. It also has an institutional business that advises a small number of pension and profit-sharing plans. Services offered at the firm include investment management, insurance, cash flow, retirement planning, tax services, trust and estate planning, education planning and philanthropy planning.
Global Wealth Management Background
The firm was organized as an LLC in New Jersey in 2010. It is the successor to a financial advisor firm that has been in operation in the state since 1983, which was originally called Individual Asset Planning Corporation.
Ownership of Global Wealth Management breaks down as such: 85% of the firm is owned by the Martin Tuchman Revocable Trust, 10% is owned by firm chairman Ram Kolluri, and 5% is owned by Sripat Pandey, who serves as the firm’s president and chief investment officer.
What Types of Clients Does Global Wealth Management Accept?
Global Wealth Management primarily serves high-net-worth individuals. In addition, the firm can provide advisory services to:
- Family offices
- Pension plans
Potential clients should also note that Global Wealth Management is a small firm with just one office. This means the firm is probably most suitable for investors who are local to its New Jersey location and are looking for a personal, family atmosphere rather than the bells and whistles that might come with using a larger financial institution for advisory services.
Global Wealth Management Minimum Account Sizes
The minimum account balance required by Global Wealth Management is $500,000. However, all of the firm’s individual clients are classified as high-net-worth individuals, defined as having at least $1 million in investable assets.
Services Offered by Global Wealth Management
Services offered by the firm include:
- Investment management
- Cash flow
- Retirement strategies
- Tax planning
- Estate planning
- Philanthropy and foundations
Global Wealth Management’s investment strategy is based on long-term investing. The firm avoids trying to time the market, believing that this leads to knee-jerk decisions that might ultimately lose money for clients. Risk control is also an important part of the firm’s strategy. It looks to limit portfolio viability, preferring “controlled risk” that allows for capital gains while protecting against major losses.
Investments favored by the firm include exchange-traded funds, mutual funds, exchange-traded notes, stocks and bonds. The firm bases its decisions about asset allocations and exact investments on an individual client’s investment preferences and personal financial situation.
Fees Under Global Wealth Management
Global Wealth Management charges clients for its investment management services based on a percentage of assets under management. The chart below shows the fee schedule for investment management clients. The fee rate decreases as the amount of assets under management increases. If a client has more than $10 million in assets under management, there is a flat fee for all of the assets.
|Investment Management Fees|
|Assets Under Management||Maximum Annual Fee|
|Up to $2 million||1.00%|
|Next $3 million||0.75%|
|Next $5 million||0.50%|
|All relationships above $10 million (flat fee)||0.50%|
Financial planning services are also offered at no additional cost.
The chart below compares fees at Global Wealth Management with the national median advisory fees. Fee estimates are based on the maximum fees charged. Fees may be negotiable.
|Estimated Fee Comparison*|
|Your Assets||Global Wealth Management||National Median Advisory Fees**|
|$1MM||$10,000||$8,500 - $10,000|
|$5MM||$42,500||$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
Global Wealth Management is a smaller advisory firm. It has fewer than 100 individual clients, all of whom are high-net-worth investors. If you’re looking for an advisor with a massive stable of clients, this firm might not meet your expectations. Similarly, if you’re interested in using an advisor connected directly to a major bank or global financial institution, know that Global Wealth Management is a small, independent firm without that type of access.
Global Wealth Management has not faced any disciplinary issues over the past 10 years.
Opening an Account With Global Wealth Management
The easiest way to get in touch with Global Wealth Management is to fill out the contact form on the firm’s website. The contact form asks for basic information, including a phone number and email address, and also provides a space where you can write a message to the firm about who you are and what you are looking for.
You can also call the firm at (609) 452-2929, or e-mail firstname.lastname@example.org
Where Is Global Wealth Management Located?
The firm’s office is in Kingston, New Jersey. The office is located off of NJ-27, near Millstone River.
Financial Planning Tips
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