Selective Wealth Management is an SEC-registered advisory firm based Lynchburg, Virginia. It provides a range of financial services, including investment portfolio management and holistic financial planning. It currently holds more than $100 million in assets under management (AUM).
Selective Wealth Management Background
Selective Wealth Management was founded in 2012 in Delaware before being incorporated in Virginia during 2012. Its founder Chris Devlin now serves as chief investment officer. The firm currently employs chartered financial analysts (CFA).
What Types of Clients Does Selective Wealth Management Accept?
Selective Wealth Management mostly works with individuals. A fraction of these are high-net-worth individuals. However, the firm also extends its services to charities and institutional clients.
Selective Wealth Management Minimum Account Size
To open an account with Selective Wealth Management, you’d need a minimum investment of $10,000.
Services Offered by Selective Wealth Management
Selective Wealth Management offers investment management and financial planning services. The firm’s advisors evaluate the client’s current financial situation before building an appropriate investment portfolio. It aims to approach asset-allocation strategies based on the client’s risk tolerance and financial objectives.
Furthermore, the firm also provides clients with holistic financial planning. This work can touch upon the following subjects:
- Tax preparation
- Estate planning
- Retirement planning
- Debt/credit management
- College savings plans
Selective Wealth Management Investment Philosophy
Selective Wealth Management utilizes a variety of methods when making investment decisions. Among them is fundamental analysis. This involves making investment decisions based on several metrics such as the overall health of companies, industry conditions and overall economic outlook.
Fees Under Selective Wealth Management
For investment advisory services, Selective Wealth Management charges a fee based on the percentage of your assets under management (AUM). This fee is a flat 1.25%. It's charged monthly and deducted from your account.
However, this fee doesn’t cover common third-party fees you may encounter. These include mutual fund expenses charged by fund managers, as well as brokerage and custodian fees.
What to Watch Out For
There isn’t much to watch out for when it comes to working with Selective Wealth Management. The firm serves as a fiduciary investment advisor. This means that it’s legally obligated to work in your best interests. However, Selective may recommend investing in the Selective Opportunity Fund, which the firm advises. “This presents a conflict of interest," Selective says. "Nevertheless, Selective acts in the best interest of the client consistent with its fiduciary duties, and clients are not required to invest in the fund if they do not wish to do so.”
Selective Wealth Management has undergone no disciplinary events. It did not report any such instances on its Form ADV. This is a document that firms with more than $25 million in assets under management must file with the SEC.
Opening an Account with Selective Wealth Management
You can open an account with Selective Wealth Management by visiting its corporate office in Lynchburg, Virginia.
Where Is Selective Wealth Management Located?
Selective Wealth Management is located on 828 Main Street, Suite 1101, Lynchburg, Virginia, 24504.
Tips for Finding a Financial Advisor
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