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Hawkins Wealth Management Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Hawkins Wealth Management is an SEC-registered investment advisor based in North Liberty, Iowa. It provides holistic financial planning and investment advisory services to a range of clients, including individuals and businesses. It currently holds hundreds of millions in assets under management (AUM) and provides investment management services on a wrap-fee basis. 

Hawkins Wealth Management Background 

Hawkins Wealth Management has been providing investment advisory services since Tim Hawkins founded the firm in 2012. Hawkins owns 90% of the business through a holding company, while managing partner Aaron Robertson controls the remaining 10% stake through AMR Financial. 

The firm currently employs three certified financial planners (CFPs). As a fiduciary in the industry, it is committed to work in the best interests of its clients. 

Hawkins Wealth Management Client Types and Minimum Account Sizes

Hawkins Wealth Management mostly works with individuals, most of whom are high-net-worth individuals. However, the firm also provides its services to businesses and employer-sponsored retirement plans. 

To open an account with Hawkins Wealth Management, you’d generally need a minimum account size of $500,000. However, you can enroll in a TIAA allocation service with a minimum of $350,000. 

Services Offered by Hawkins Wealth Management

Hawkins Wealth Management provides investment advisory and financial planning services. The firm may recommend a mutual-fund-only investment allocation offered through American Funds. The firm also offers TIAA Allocation services to clients who are employees of public institutions that choose TIAA as their investment custodian.  

The firm also offers an investment portfolio management through a wrap-fee program, which bundles together investment management fees, custodial fees and trading fees. Hawkins can also provide retirement plan consulting.

In addition, the firm provides general financial planning services. These may touch upon the following based on your needs:

Hawkins Wealth Management Investment Philosophy

Hawkins Wealth Management uses a variety of methods when making investment decisions. For instance, it utilizes charting, which involves analyzing charts to predict future market movements. It also practices fundamental analysis. This method entails an in-depth study of several factors, including overall economic outlook, industry-specific conditions and the state of companies. 

The firm offers a number of proprietary model porfolios that are tailored to specific risk tolerances. These model portfolios are:

  • ETF: The goals of this portfolio are to grow capital over a long-term investment horizon.
  • Aggressive Growth: The goals of this portfolio are to grow capital with an emphasis on capital appreciation.
  • Growth: The goals of this portfolio are to grow capital with an emphasis on capital appreciation.
  • Growth with Income: The goals of this portfolio are to balance capital growth and high current income with an emphasis on capital appreciation.
  • Growth with Income Plus: The goals of this portfolio are to generate current income, preserve capital, and achieve some long-term capital growth.
  • Conservative: The goals of this portfolio are to generate current income, preserve capital and purchasing power.
  • Dividend Sustainability: The goals of this portfolio are to emphasis current income through dividend accumulation, dividend growth, and preserve capital with potential long-term capital growth.

Fees Under Hawkins Wealth Management

American Funds charges investment advisory clients of Hawkins Wealth Management an annual fee of 1.00%. The firm calculates that fee based on your AUM and directly deducts its from your account.

Here's how much you may pay for American Funds service, depending on the size on your account:

*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.
Estimated Investment Management Fees for American Funds at Hawkins Wealth Management*
Your Assets Hawkins Wealth Management Fee Amounts
$500K $5,000
$1MM $10,000
$5MM $50,000
$10MM $100,000

Fees for TIAA Allocation range from 0.80% to 1.25% according to this fee schedule:

TIAA Allocation Fees
Assets Under Management Fee Percentage
Up to $1MM 1.25%
$1,000,001 - $3MM 1.15%
$3,000,001 - $5MM 1.05%
$5,000,001 - $10MM 0.95%
$10,000,001 and above 0.80%

Here's how much you may pay for TIAA Allocation based on the size on your account:

*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.
Estimated Fees for TIAA Allocation at Hawkins Wealth Management*
Your Assets Hawkins Wealth Management Fee Amounts
$500K $6,250
$1MM $12,500
$5MM $56,500
$10MM $104,000

For clients with wrap-fee accounts, fees are based on a percentage of household assets following this schedule:

Wrap-Fee Program Fees
Household Assets Fee Percentage
Up to $100,000 1.85%
$100,001 - $500,000 1.45%
$500,001 - $1MM 1.35%
$1,000,001 - $3MM 1.15%
$3,000,001 - $5MM 1.05%
$5,000,001 - $10MM 0.95%
$10,000,001 - $20MM 0.80%
$20,000,001 and above 0.50%

Here's how much you may pay for wrap-fee service, based on the size on your account:

 
Estimated Wrap-Fee Program Fees at Hawkins Wealth Management *
Your Assets Hawkins Wealth Management Fee Amounts
$500K $7,650
$1MM $14,400
$5MM $58,400
$10MM $105,900

In addition, the firm charges a flat fee for financial planning services. The hourly fee typically ranges from $2,500 to $50,000. 

What to Watch Out For

Hawkins Wealth Management has one disclosure of a regulatory action on its Form ADV most recently filed with the U.S. Securities and Exchange Commission. Back in 2017, the SEC issued a cease and desist order against Hawkins Wealth Management for failing to disclose a forgivable loan of almost $350,000 that LPL Financial provided. The firm was also fined $35,000 for the violation and censured by the SEC.

As a fee-based firm, some representatives of Hawkins Wealth Management are insurance agents. As a result, advisors may be incentivised to recommend specific securities. These individuals may receive compensation for making those recommendations. This arrangement may create a conflict of interest. However, the firm has a fiduciary duty to work in the best interests of the client regardless of compensation. 

 

Opening an Account with Hawkins Wealth Management

The easisest way to open an account with Hawkins Wealth Management is by visiting the firm’s main office in North Liberty, Iowa. You can also reach the firm by calling (319) 626-3580.  

 

Tips for Finding a Financial Advisor

  • Finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in your area in five minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.
  • Keep in mind that not all advisors are equally experienced. In general, you should work with a certified financial planner (CFP) who also is a fiduciary

How Long $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We weighed potential expenditures for a prospective retiree with a  $1 million nest egg to assess how many years that fund would cover in retirement in America’s largest cities.

We applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in metro areas across the U.S.

We assumed the $1 million would grow at a net annual return of 2% after inflation. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.