Hemington Wealth Management is an SEC-registered advisory firm based in Falls Church, Virginia. Hemington provides portfolio management and holistic financial planning services to individuals, retirement plans, charities and corporations. The firm is on SmartAsset's list of the top financial advisors in Falls Church.
According to its website, the advisory team at Hemington Wealth Management is "widely recognized as thought leaders in the wealth management industry and experts on all issues impacting women of wealth." As a result, the firm provides services aimed directly at women, with another suite of services available for lawyers.
Hemington Wealth Management Background
Ryon Beyer and Eileen O’Connor founded Hemington Wealth Management in 2013. Both still work at the firm with over 40 years of experience in the financial services industry.
This firm employs multiple certified financial planners (CFPs) and chartered financial analysts (CFAs).
Hemington Wealth Management Client Types and Minimum Account Sizes
Hemington Wealth Management primarily works with individuals. In fact, its individual client base is split between those with and without a high net worth. The firm also extends its services to retirement plans, charitable organizations and businesses.
To open an advisory account with Hemington Wealth Management, you generally need a minimum initial investment of at least $1 million. However, the firm may waive this requirement at its sole discretion.
Services Offered by Hemington Wealth Management
Hemington Wealth Management generally provides investment management and financial planning services on a fee-only basis. The firm primarily constructs portfolios utilizing mutual funds. It aims to select investments based on the client’s risk tolerance and objectives. Moving forward, Hemington provides ongoing monitoring of the portfolio and rebalances it if changing market conditions or other factors call for adjustments. In addition, the firm may offer services through a third-party advisor or “sub-advisor.”
Hemington Wealth Management also offers financial planning services that focus on several aspects of finance, including:
- Retirement planning
- Estate planning
- Insurance planning
- Compensation and benefits planning
- Tax preparation
- College savings plans
Hemington Wealth Management Investment Philosophy
Hemington Wealth Management conducts investment practices based on the financial situation and personal objectives of the client. Before providing these services, the firm examines the client’s current state as it pertains to aspects of his or her financial life. These can touch upon the client’s tax situation, risk tolerance and lifetime financial goals.
The firm approaches asset allocation with risk in mind. It aims to diversify portfolios with various securities, including stocks and bonds in domestic and foreign markets.
When considering its securities selection, the firm utilizes fundamental analysis. This process involves an examination of several market factors, including economic conditions, historical data, price-to-earnings ratios, industry outlook, political conditions as they relate to the investment and general level of interest rates.
Fees Under Hemington Wealth Management
For investment management services, Hemington charges fees based on a percentage of clients' AUM. This fee can stretch from 0.25% to 1.25% annually, depending on the size of your account. However, fees are calculated and charged on a quarterly basis.
For advanced financial planning and consulting services, the firm generally charges a fee of $500 per hour. However, the final fee is subject to negotiation and reflects the scope of the services required.
What to Watch Out For
Hemington Wealth Management has not been subject to any legal or disciplinary disclosures, according to its SEC-filed Form ADV.
Opening an Account with Hemington Wealth Management
You can open an account with Hemington Wealth Management by visiting one of its offices in either Falls Church, Virginia or Chicago, Illinois. You can also call the firm over the phone.
All information is accurate as of the writing of this article.
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