Strategic Wealth Management is an investment management firm with its headquarters in Bedford, Texas. The firm advises both individual investors and high-net-worth investors. It also has a small institutional advisory business, with a few charitable organizations and other corporations as clients.
Strategic Wealth Management has more than $101 million in assets under management and four financial advisors on staff.
Strategic Wealth Management Background
Strategic Wealth Management has been an independent registered investment advisor since 2014. It switched registration from the state of Texas to the SEC in 2017. The firm is solely owned by Jeanine Benenati, who has been involved in the investment advisory business for more than 15 years.
What Types of Clients Does Strategic Wealth Management Accept?
Strategic Wealth Management is a wealth advisor for both individuals and high-net-worth individuals. Additionally, Strategic Wealth Management is capable of working with trusts, estates, charitable organizations, corporations, limited liability companies and other types of businesses. The firm is independent of major financial institutions, so clients looking for a boutique-style advisor may find what they are looking for.
Strategic Wealth Management Minimum Account Sizes
There is no minimum investment required to open an account at Strategic Wealth Management. To use an advisory program sponsored by LPL Financial, an account minimum of between $15,000 to $250,000, depending on the advisory program, is required.
Services Offered at Strategic Wealth Management
The following services are offered at Strategic Wealth Management:
- Investment planning
- Retirement planning
- Estate planning
- Tax management
- Education funding
- Employee and executive benefits
- Risk assessment and management
Strategic Wealth Management Investment Philosophy
Strategic Wealth Management has a number of options available to clients when it comes to investing style. Portfolios can be built using growth-focused investments or a fixed-income strategy can be implemented.
Generally speaking, the firm sorts clients by investment objective and risk tolerance. The two types of investment objectives are income and growth. Risk tolerance is then split into conservative, moderate and aggressive categories. The more aggressive an investor a client is, the more chances the advisor will take that might involve losing capital.
Fees Under Strategic Wealth Management
Strategic Wealth Management charges an advisory fee based on a percentage of assets under management. It does not participate in a wrap fee program in which all of the services the firm offers are paid for by one comprehensive fee.
The firm’s comprehensive portfolio management fee ranges from 0.55% - 1.00% of assets under management. Fees are negotiable. For clients using advisory program sponsored by LPL Financial, the fee is negotiable and may be as high as 2.00% of assets under management. The LPL Financial-sponsored advisory program is called Managed Access Select Program, and it gives clients access to professional portfolio management services from third parties, chosen from a list provided by LPL.
In addition to asset-based fees, clients also pay for any transaction charges incurred by making trades. For financial planning and consulting, the firm charges a hourly fee or a flat fee. Hourly fees range from $80 to $300 and flat fees range from $750 to $15,000. A minimum fee of $750 is required for written financial plans.
What to Watch Out For
Potential clients should note that Strategic Wealth Management a separate fee for asset management and for financial planning. Make sure to keep that in mind when figuring out how much you’ll pay in total.
There are no disclosures on the record for Strategic Wealth Management in the past 10 years.
Opening an Account With Strategic Wealth Management
Potential customers can fill out a form on the company’s website to get in touch with Strategic Wealth Management. The form asks for contact information and has a space to ask why you are interested in getting in touch.
Where Is Strategic Wealth Management Located?
The firm has headquarters Bedford, Texas, which is located between Dallas and Fort Worth.
Financial Planning Tips
- It can be difficult to find the right financial advisor for you and your family. There are a lot of advisors out there, and each has their own specialty. SmartAsset can help you find an advisor who is a good fit for you with our free financial advisor matching service. You’ll answer a short series of questions about your life and your finances. Our system will take that information and match you with up to three financial advisors in your area, all of whom are fully vetted and are free of disclosures. Each of your matches will then reach out to you about possible next steps.
- If you’re already using a 401(k) or other workplace retirement savings program, that’s a great start to saving for your financial future. You’ll want to make sure you know how much your account is likely to be worth when you retire. You can use our 401(k) calculator to get a sense of what it might look like.