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Sendero Wealth Management Review

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Sendero Wealth Management

An interesting fact about independent firm Sendero Wealth Management is that its ownership is allocated between the following two partners: Sendero Partners and a passive client investor who holds 11% of the firm. Sendero Wealth is a fee-only financial advisor firm that provides investment advisory and private wealth management services to mostly high-net-worth individuals. The firm is located in San Antonio, Texas.

Sendero Wealth also ranks on our list of San Antonio's top financial advisors.

Sendero Wealth Management Background

Sendero Wealth Management can trace its roots back to 2000, when it was a financial advisor division of Redstone Consulting, LLC, a subsidiary of Redstone Federal Credit Union. However, it only became a sovereign firm in 2008. The parent company and owner of Sendero Wealth Management is Sendero Partners, which is under the principal ownership of chairmen Fred Middleton and Scott McMillian.

The upper management team at Sendero boasts some impressive qualifications. Chairman emeritus Fred Middleton was once the chairman of the District Business Conduct Committee of the National Association of Securities Dealers, the predecessor to FINRA. As a whole, the firm’s team includes two certified public accountants (CPAs), one chartered financial analyst (CFA) and one certified financial planner (CFP).

Sendero Wealth Management Client Types and Minimum Account Sizes 

Over 70% of Sendero Wealth Management’s client base is made up of high-net-worth individuals, as this type of client is the firm’s specialty. However, it also works with families, charitable organizations and endowments.

If you’re looking for traditional advisory services from Sendero, you will need a minimum of $1 million in investable assets

Services Offered By Sendero Wealth Management

Wealthy individuals and families tend to have more complex financial needs. As the vast majority of Sendero Wealth Management’s clients are high-net-worth investors, it should come as no surprise that the firms offers a wide range of services:

  • Traditional advisory services
    • Comprehensive, family-centric approach
    • Utilization of both traditional and alternative investment managers
  • Organization of wealth
    • Simplification of wealth management
  • Open architecture portfolio manager selection
    • Locate and hire third-party investment managers
  • Expert oversight
    • Tax minimization
    • Liquidity considerations
  • Investment management
    • Idea generation
    • Investment research
    • General investment advice and education
    • Strategic asset allocation
    • Family governance
    • Consistent performance reporting

Sendero Wealth Management Investment Philosophy

Sendero Wealth Management is focused on managing client assets not for short-term returns but rather for long-term success. The firm’s ideology is centered around being “conservative” and taking a “stay wealthy” approach.

The investments that Sendero chooses for its client portfolios vary, but it does have a few that it favors on a consistent basis. These include traditional equity securities, fixed-income securities, alternative investments, real estate, private equity and non-correlated asset class investments.

Fees Under Sendero Wealth Management

Sendero Wealth Management offers various advisory fees for its holistic wealth management services, but the firm doesn't specify the exact fee amounts in its Form ADV. For these services, the firm charges clients on the last day of each quarter, and fees are based on the market value of the invested assets for the preceding calendar quarter.

Any third party investment manager fees will be billed by the third-party investment manager. 

What to Watch Out For

There are no disclosures to report for Sendero Wealth Management. However, potential clients should be aware of the fact that the firm specializes in serving the wealthy.

Opening an Account With Sendero Wealth Management

If you’re in the San Antonio, Texas area, stop by Sendero Wealth Management to meet with an advisor. You can also call the firm to set up an appointment. 

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

Tips to Become a Good Investor

  • Asking for help and gaining knowledge can be the first steps towards investing success. Financial advisors can help with this. Finding the right financial advisor doesn’t have to be hard. SmartAsset's free tool matches you with financial advisors in your area in 5 minutes. If you’re ready to be matched with local advisors, get started now.
  • Patience is one of the keys to achieving solid long-term returns from any investment. Though it may be tempting to try to time the market to reap high returns, that investing tactic can be extremely risky.

How Long $1mm 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.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then 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 the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. 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.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research