Houston-based Manske Wealth Management, LLC (MWM) is a fee-based financial advisor firm with five financial advisors who handle $212 million worth of client assets under management (AUM). The firm specializes in financial planning, wealth management and investment advising. In 2018, Manske Wealth placed 22nd on the Houston Business Journal’s list of the top wealth management firms and practices in Houston.
Manske Wealth Management Background
President Christopher R. Manske created Manske Wealth Management in 2012 after working as a financial advisor with Merrill Lynch for 12 years. Texas Monthly named him a “5-Star Wealth Manager” from 2009 to 2016. MWM is under the principal ownership of Christopher Manske.
Manske Wealth Management owns an impressive collection of advisory certifications considering its small five-person team. In total, the firm employs four certified financial planners (CFPs), three certified fund specialists (CFSs), three chartered retirement planning counselors (CRPCs) and one investment advisor certified compliance professional (IACCP).
What Types of Clients Does Manske Wealth Management Accept?
Most of Manske Wealth Management’s business comes from individuals and their associated trusts and estates. In fact, MWM has specific services for individual athletes and executives. The firm maintains advisory relationships with pension and profit-sharing plans, corporations and businesses and charitable organizations as well.
Manske Wealth Management Minimum Account Size
In contrast to the typical minimum account size at other firms, Manske Wealth Management calls for a $1,500 minimum annual fee.
Services Offered by Manske Wealth Management
The services available at Manske Wealth Management are intricately designed in an effort to serve certain types of clients. General financial planning and investment management are offered here too, though. Take a look over what MWM can do here:
- Separate financial planning
- Retirement planning
- Education fund planning
- Debt and liability management
- General financial goal-setting
- Wealth management
- Combination of financial planning and discretionary investment management
- Investing assistance following a major financial windfall, like:
- Receipt of a life insurance payout
- Lawsuit and divorce settlements
- Cash value from an initial public offering (IPO)
- Asset management for athletes
- Long-term focus
- Point of contact for financial ventures that arise
- Company retirement plans
- Work directly with business owners and HR teams
- Customized committee-based investment guidance
- Supervision for endowments and charitable funds
- Investment policy statement (IPS) creation
- Divorce asset valuation regarding:
- Stocks and stock options
- Complex insurance products
- Manske Wealth Management Wrap Program
- Traditional wrap-fee schedule
- Use of independent managers
Manske Wealth Management Investment Philosophy
Manske Wealth Management personalizes its investment ideologies depending on the type of investor you are. More specifically, factors like your financial goals, risk tolerance, time horizon and income needs will drive the investment decisions the firm makes for you. Instead of viewing your portfolio’s returns against an arbitrary benchmark, Manske Wealth will compare them to the benchmark that your time horizon inherently creates.
MWM uses a plethora of investments, including mutual funds, exchange-traded funds (ETFs), individual stocks and bonds, independent managers, hedge funds and unit investment trusts. These investment types are diversified using a well-developed asset allocation strategy.
Fees Under Manske Wealth Management
Manske Wealth Management’s most robust offering is its wealth management service, as it merges financial planning and investment management. In turn, the fee schedule for this service is an annualized, asset-based charge that ranges up to 1.00%. This rate is actually split into four quarterly fees that are paid, in arrears, on the market value of your assets under management on the last day of the previous quarter.
Because MWM’s financial planning and consulting services are not ongoing, the firm charges a fixed fee of $1,000 to $5,000. The scope and complexity of your needs will determine the rate you’ll pay. Manske Wealth states in its Form ADV that if you engage the firm for additional investment advisory services, those costs may offset a portion or all of this fixed fee.
|Overview of Manske Wealth Management Fees|
|Wealth management||Up to 1.00% annual fee|
|Financial planning/consulting||$1,000 - $5,000 fixed fee|
This firm provides a wrap-fee, investment advisory service called the Manske Wealth Management Wrap Program. This means that all brokerage and transaction costs are added into your base annual fee. While it might sound like a no-brainer, this added benefit could cause your fees to surpass the cost for firm’s standard investment services.
Manske Wealth does not use performance-based fees.
What to Watch Out For
Certain members of Manske Wealth Management’s staff are registered representatives of SEC-registered broker-dealer Purshe Kaplan Sterling Investments, Inc. (PKS). Should you implement securities transactions through any of these MWM employees, they will receive part of the brokerage commissions’ PKS charges. Beyond this, some MWM employees may earn ongoing 12b-1 fees from mutual fund companies that you’re invested in.
The commission and fee arrangements described in the paragraph above clearly create a conflict of interest. Despite this, Manske Wealth Management abides by fiduciary duty. In short, this legally binds MWM to act in clients’ best interests under all circumstances.
Based on its SEC-filed Form ADV, Manske Wealth Management has a clean legal and regulatory record.
Opening an Account With Manske Wealth Management
To set up a consultation with a Manske Wealth Management advisor, call or email the firm at (713) 581-1994 or firstname.lastname@example.org, respectively. The firm provides an extensive list of the documents it wants prospective clients to bring to their inaugural meeting, such as:
- Current tax returns
- Bank, mortgage and insurance statements
- Trust and will documents
- List of your current investments
- IRA, pension and retirement account statements
- Annuity contracts and policies
Where Is Manske Wealth Management Located?
Manske Wealth Management is in Houston, Texas, at 1010 North San Jacinto, Suite 200. Stop by the contact page on the firm’s website for directions to the office from either Highway 59 or Interstate 10.
How to Learn About Investing
- A well-rounded knowledge base is a major key to becoming a responsible investor. With that being said, exploring the investment market is a complicated venture, so approach with caution. Perhaps a good place to start is SmartAsset’s guide featuring a detailed description of almost a dozen investment types and how they work.
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