Avidian Wealth Solutions, formerly known as STA Wealth Management, is a financial advisor firm headquartered in Houston, Texas. The firm works with a range of individuals, wealthy individuals, corporations, pensions and charitable organizations. It has an account minimum of $500,000.
With 15 years under its belt in the Houston area, Avidian has grown to serve hundreds of clients. The firm provides a range of services including investment management, financial planning and consulting services.
Avidian Wealth Solutions Background
Avidian Wealth Solutions was founded in 2003 by Luke Patterson and Michael Smith. Today, Patterson serves as CEO and chief investment officer (CIO) and Smith serves as president of the firm. Over the last 15 years, the firm has opened a second office in nearby Sugar Land, Texas and has grown its client base significantly.
Many of the advisors at Avidian hold a certified financial planner (CFP) designation. Other on-staff certifications include certified public accountant (CPA), personal financial specialist (PFS), chartered financial analyst (CFA) and more.
Avidian Wealth Solutions Client Types and Minimum Account Sizes
Avidian Wealth Solutions works with individuals, high net worth individuals, pooled investment vehicles, pension and profit-sharing plans, charitable organizations, and corporations.
Avidian Wealth Solutions generally requires that clients have a minimum of $500,000 for investment advisory services. The firm may choose to waive this minimum or charge a lower fee at its sole discretion.
Services Offered by Avidian Wealth Solutions
Avidian Wealth Solutions provides a typical collection of services to its clients, including the following:
- Investment Management
- Hedged Tactical Equity Strategy
- Core Options Strategy
- Investment Management Wrap Fee Program
- Financial Planning
- Consulting Services
Avidian Wealth Solutions Investment Philosophy
Avidian Wealth Solutions relies on a combination of charting, fundamental analysis and technical analysis when it comes to analyzing investments for clients. The firm also combines long-term purchasing, short-term purchasing and trading strategies when managing client portfolios. With all portfolios, the firm looks to achieve high returns and below-average volatility with a process that’s both research-driven and repeatable.
Fees Under Avidian Wealth Solutions
Investment management fees at Avidian Wealth Solutions typically adhere to the following schedule, although the firm may negotiate a different fee at its discretion.
|Fee Schedule for Managed Accounts|
|Assets Under Management||Maximum Annual Fee Rate|
|$500,000 - $749,999||1.50%|
|$750,000 - $999,999||1.35%|
|$1,000,000 and above||1.25%|
These fees are paid quarterly, either in advance or in arrears, depending on the advisor. Fees are typically calculated based on your total assets on the last business day of the preceding quarter.
Financial planning or consulting fees can vary widely depending on the specifics of your situation. They generally fall between $2,000 and $30,000 as a one-time fee or $150 and $350 as an hourly fee. Avidian Wealth Solutions advisors don't earn performance-based fees. The below table shows how Avidian's fees might look for you as a client. Remember that these are only estimates and actual fees may vary.
The firm also offers a wrap fee program, in which clients pay a single fee that encompasses all fees, including those for brokerage transactions and custodial services. This simplifies things and allows clients to know exactly what they'll be paying in fees. However, the firm notes in its SEC disclosure that participating in the wrap fee program could result in paying higher fees than if you purchased the services a la carte. If you take part in the firm’s wrap fee program, you’ll pay fees monthly instead of quarterly.
What to Watch out For
There are no disclosures present on Avidian Wealth Solutions' SEC-filed Form ADV.
Some advisors at Avidian Wealth Solutions are independently registered representatives of a broker-dealer or licensed insurance agents, meaning they can earn commissions on certain security transactions and insurance sales. This could create a potential conflict of interest, though the firm's fiduciary duty means it must act in clients' best interests at all times.
Opening an Account With Avidian Wealth Solutions
You can start the process of opening an account with Avidian Wealth Solutions a few different ways. You can visit the office in person to either speak with an advisor or set up an appointment to do so. You can also call the firm at (281) 822-8800 or contact it online through email or the form on its website.
All information is accurate as of the writing of this article.
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