GWM Advisors LLC is a Baton Rouge-based advisory firm with more than $2.5 billion in assets under management (AUM). The fee-based financial advisor serves a range of individual and institutional clients, with about 115 advisors managing more than 11,000 clients. Though GWM specializes in investment advisory services, it offers numerous other wealth management services.
GWM Advisors LLC Background
Established in 1981, GWM is an advisory firm that’s affiliated with Goss Advisors, a partnership that began conducting business in 2012. GWM also partners with LPL Financial LLC (LPL) for research, advisory and brokerage services. Jerry Gross is the firm’s chief executive officer (CEO) and managing director of investments, while Alex Gross serves as firm president. George F. Sins III is the partner managing director of investments, and Matthew Duplechain is vice president of investments.
The firm’s team presents a range of qualifications, namely the certified financial planner (CFP), chartered life underwriter (CLU) and chartered financial consultant (ChFC) designations.
GWM Advisors LLC Client Types and Minimum Account Sizes
GWM serves individuals and high-net-worth individuals, charitable organizations, trusts, estates, pension and profit sharing plans, corporations and other businesses.
The firm’s minimum account size varies based on account type. GWM utilizes LPL sponsored advisory programs, and the minimum requirements for these programs generally range from $15,000 to $250,000.
Services Offered by GWM Advisors LLC
GWM offers the following advisory services:
- Portfolio management
- Financial planning
- Pension consulting
- Selection of other advisors
GWM Advisors LLC Investment Philosophy
GWM says on its website that its mission is to help its clients develop a clear financial plan for the future. In working toward this mission, the firm employs many different securities analysis methods when conducting investment research. These include charting analysis, cyclical analysis, mutual fund and/or exchange-traded fund (ETF) analysis, third party money manager analysis, technical analysis and fundamental analysis.
The firm utilizes an array of investment strategies and products, including asset allocation, debt securities, ETFs and mutual funds, fixed income investing, long- and short-term purchases, margin transactions, short sales, individual stocks, options and trading.
Fees Under GWM Advisors LLC
For financial planning and consulting services, GWM charges on a flat-fee basis for both one-time and ongoing financial planning and consulting. Annual flat fees for such services don’t exceed $200,000. For pension consulting services, the firm may charge asset-based fees or flat fees. Asset based fees for these services won’t exceed 1.50% of AUM, and annual flat fees won’t exceed $60,000.
GWM clients pay fees for referrals to third party advisors, and clients using LPL-sponsored advisory programs encounter fees up to 3.00% of AUM. Wrap fee clients pay fees that don’t exceed 2.50%, while non-wrap clients incur transaction fees from trades carried out by their custodian.
GWM Advisors LLC Awards and Recognition
GWM Advisors has earned the Financial Times’ Top 300 Financial Advisers awards in 2017, 2018 and 2019. The awards are primarily based on AUM, years in existence, asset growth, credentials and other factors.
What to Watch Out For
Representatives of the firm are licensed as broker-dealers, allowing them to earn commissions from the sale of certain investment products. This can create a conflict of interest if advisors favor such products over other investments that may be more suitable to a client’s needs. However, the firm says it honors its fiduciary obligation to work in each client’s best interest.
The firm’s Form ADV doesn’t list any disclosures.
Opening an Account With GWM Advisors LLC
Interested in investing with GWM Advisors? To set up an appointment with an advisor, you can visit the firm’s Baton Rouge office, or you can call the firm at (225) 930-4677.
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All information was accurate as of the writing of this article.