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Redwood 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.

Redwood Wealth Management, LLC (RWM) is a fee-only financial advisor. The company employs a small team of financial advisors, and its services are centered around financial planning, retirement planning, tax management and, most importantly, investment management. Redwood Wealth Management currently ranks on SmartAsset's list of the top financial advisors in Alpharetta, Georgia.

As a fee-only firm, the sole form of compensation for Redwood Wealth comes from client-paid fees. A fee-based firm, on the other hand, can receive both advisory fees and third-party compensation for things like securities sales.

Redwood Wealth Management Background

Prior to 2009, Redwood Wealth Management did business under the name Niagara Financial Advisors. Therefore, Redwood can trace its roots back to 2001 when Niagara was founded. The firm is principally owned by two entities: Steinberger Incorporated and Redwood Financial Services, Inc. Steinberger Incorporated is, in turn, owned by CIO Lane Steinberger, and Redwood Financial Services is owned by lead wealth manager Shawn Meade.

There are plenty of advisory certifications across the team at RWM. This list includes certifications such as certified financial planner (CFP), certified public accountant (CPA), chartered financial analyst (CFA) and certified divorce financial analyst (CDFA).

Redwood Wealth Management Client Types and Minimum Account Sizes

Although Redwood Wealth Management has services available for businesses, pension plans, profit-sharing plans and other retirement plans, its client base consists entirely of individuals, both with and without a high net worth.

Rather than instituting a minimum account size, Redwood Wealth Management requires a minimum annual fee of $5,000. To make things simpler, this fee works out to be a $500,000 minimum, according to Redwood's fee schedule.

Services Offered by Redwood Wealth Management

Redwood Wealth Management bases its offerings around financial planning and investment management. If you’re looking for a one-time consultation, Redwood’s advisors can do that as well. Here’s a detailed breakdown of the firm’s services:

  • Financial planning
    • Annual net worth statements
    • Cash flow statement and income planning
    • Current investment review
    • Investment recommendations
    • Tax planning and minimization
    • Tax return preparation
    • Retirement savings analysis and planning
    • Education cost planning advice
    • Estate planning and review
    • Charitable gift planning
    • Risk management
    • Life and disability insurance review and planning
  • Investment portfolio management
    • Discretionary services
    • Investment planning
    • Investment discretion available to clients
    • Asset class analysis and research
    • Risk-adjusted portfolios
  • General consulting
    • One-time, project-based services
    • Cash-flow planning for retirement or other financial goals
    • Income tax planning analysis
    • Estate planning analysis
    • Insurance review

Redwood Wealth Management Investment Philosophy

Redwood Wealth Management bases their overarching investment philosophy on modern portfolio theory. Modern portfolio theory holds that rather than just picking individual stocks, investors can create diversified portfolios that will deliver optimal returns given their particular tolerance for risk. In other words, if you’re risk averse, you may want to invest in more fixed-income securities with a few stocks, whereas the opposite is true for those who are  willing to accept higher volatility.

Due to its use of MPT, Redwood Wealth Management must be willing to invest in a number of different securities. For the most part, the firm focuses on individual equities, bonds, bond funds, exchange-traded funds (ETFs) and mutual funds. RWM uses both long- and short-term purchase strategies depending on whether you have a high need for liquidity or not, along with other factors.

Fees Under Redwood Wealth Management

Redwood Wealth Management employs an asset-based fee schedule in conjunction with its portfolio management services. These fees are decided based on the individual circumstances of each client, including the amount of investable assets, anticipated services and more. All fees are charged in quarterly sections, in advance. Note that some clients may receive a negotiable fixed fee instead.

Portfolio Management Fees
Total Portfolio Value Annual Fee
First $2,000,000 1.00%
Next $3,000,000 0.75%
$5,000,000 - $10,000,000 0.50%
Above $10,000,000 Negotiable

Financial planning clients will need to pay either a fixed fee or hourly fee. Should you abide by a fixed fee schedule, your rates will be negotiated in advance, while hourly fees typically fall within $150 to $300 an hour. RWM’s general consulting services follow essentially the same fee structure.

Check out the table below to see how Redwood’s fees for its portfolio management services compare. Note that these fees are only estimates and actual costs may vary.

*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 Redwood Wealth Management*
Your Assets Redwood Wealth Management Fee Amounts
$500K $5,000
$1MM $10,000
$5MM $42,500
$10MM $67,500

What to Watch Out For

Based on its Form ADV, Redwood Wealth Management has a clean legal and regulatory record with the SEC.

Opening an Account With Redwood Wealth Management

The best way to get in touch with a Redwood Wealth Management advisor is to call the firm at (678) 390-3300 or send an email, which you can find on its website. Redwood’s site also offers a contact form that you can fill out to have an advisor reach out directly to you.

All information is accurate as of the writing of this article.

Tips for Boosting Your Investment Potential

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  • Many investors become enthralled with the stocks of popular companies like Apple, Nike or Disney. But the investment world has so much more to offer than just equities, and a balance of these offerings can provide you with long-term financial success. SmartAsset’s asset allocation calculator can help you figure out exactly how to invest your money to provide the most upside based on your risk preference.

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.

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.