Heritage Wealth Advisors' foundation is rooted in unconventional thinking, collaborative planning, personal relationships and fiduciary responsibilities, according to its website. The firm is an SEC-registered advisor with two offices in Virginia. Heritage was founded in 2005 and currently has a small team of financial advisors on its payroll.
Heritage Wealth Advisors works with a variety of clients, including individuals, families and businesses. It offers a wide range of investment management and financial planning services. This firm also appears on SmartAsset's ranking of the top financial advisors in Richmond, Virginia.
Heritage Wealth Advisors Background
Delores Ann Remo founded Heritage Wealth Advisors in 2005. Remo is a principal owner of the firm and serves as CEO and managing director. She is also a certified financial planner (CFP), personal financial specialist (PFS) and certified public accountant (CPA).
Currently, there are also three other principal owners of Heritage Wealth Advisors: John Gwyn Jordan III, Charles Thomas Hill, Jr., Marshall Ogden Chambers, Caroline Elizabeth Baronian and Sarah Christine Simmer. All owners serve as advisors for the firm.
Heritage Wealth Advisors Client Types and Minimum Account Sizes
Heritage Wealth Advisors works with many types of clients. This includes individuals, high-net-worth individuals, families, trusts, estates, business entities, nonprofit organizations, retirement plans and profit-sharing plans.
There is no set account minimum for clients to receive advisory services. Heritage Wealth Advisors also does not have a minimum annual fee, which some firms enforce in lieu of requiring a minimum account size.
Services Offered by Heritage Wealth Advisors
Heritage Wealth Advisors offers a variety of investing and financial planning services. Some of the common services available include the following:
- Portfolio construction
- Investment selection
- Risk management
- Financial planning
- Cash flow analysis
- Retirement planning
- Insurance planning
- Estate planning
- Charitable giving planning
- Income tax planning and preparation
- Family education
Heritage Wealth Advisors Investment Philosophy
Heritage Wealth Advisors follows a multi-step process when providing financial and tax planning services. The first step is to have a meeting with the client to learn more about his or her family situation, retirement goals and major anticipated financial obligations. Next comes a thorough review of the client’s financial data. This includes analyzing tax liability, cash flow, net worth, risk management, current investments and insurance needs. Based on this analysis, an advisor will create a report for the client that outlines recommended actions and projections. If the client chooses, he or she can then work with the firm to implement the recommendations.
When handling investments for a client, the firm starts by creating a personalized asset allocation. This allocation is different for each client and depends on his or her investment goals, time horizon, risk tolerance and any other criteria set by the client. Portfolios are reviewed at least once per quarter to ensure they do not stray too far from the target asset allocation.
Heritage Wealth Advisors uses mutual funds, exchange-traded funds (ETFs), separately managed accounts, individual equities and private investments in its client accounts. The firm uses multiple types of analysis when selecting exactly which investments to use. This could include talking directly with fund managers and running hypothetical portfolio scenarios to analyzing risk and return data before actually using an investment.
Heritage Wealth Advisors Fees
The fees you’ll pay at Heritage Wealth Advisors are calculated as a percentage of your AUM. Because it is a fee-only firm, neither Heritage nor its advisors earn any commissions from selling particular investment or insurance products. You can estimate your fee using the following fee schedule:
|Heritage Wealth Advisors Fee Schedule|
|Account Size||Fee Rate|
|More than $20,000,000||0.50%|
It is also possible to receive financial planning services on an hourly basis or for a fixed amount of time. In that case, the firm will work with you to determine your fees. Hourly rates and fixed fees are negotiable but will depend on the type and scope of services that you receive.
|*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.|
|Estimated Investment Management Fees at Heritage Wealth Advisors*|
|Your Assets||Heritage Wealth Advisors Fee Amounts|
What to Watch Out For
Heritage Wealth Advisors does not have any legal or regulatory disclosures present on its SEC-filed Form ADV.
Opening an Account with Heritage Wealth Advisors
In order to open an account or learn more about available services, you will need to contact the firm directly. If you prefer to talk with an advisor face-to-face, you can visit either of the firm’s two offices in Virginia. You can call the firm at (804) 643-4080 as well.
All information is accurate as of the writing of this article.
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