V Wealth Advisors, LLC in Overland Park, Kansas, is a fee-based financial advisor that specializes in financial planning, investment management and services for retirement plans. With 38 financial advisors on staff, the firm has just under $1 billion in client assets under management (AUM). At this size, V Wealth Advisors currently holds the sixth spot on SmartAsset’s list of the top financial advisor firms in Kansas.
V Wealth Advisors Background
Managing partners Thomas Blumer and Brett Lange established V Wealth Advisors in 2009. Prior to 2016, though, the firm did business under the name V Wealth Management, LLC. Today, the firm is owned by a total of seven employees, including managing partners Daniel Cherra, Thomas Blumer and Brett Lange; wealth advisors Scott Connors, David Brozenic and Richard Meyer; and senior wealth advisor Tye Martin. Collectively, this group averages almost 20 years’ experience in financial services.
V Wealth is a large firm, but its team holds just six advisory certifications. The firm employs three certified financial planners (CFPs), one certified retirement plans specialist (CRPS), one chartered financial consultant (ChFC) and one accredited investment fiduciary (AIF).
V Wealth Advisors is partnered with LPL Financial, one of the largest financial services companies and independent broker-dealers in the U.S. Some of the firm’s advisors are therefore registered representatives of LPL.
What Types of Clients Does V Wealth Advisors Accept?
Individuals and families are the most common client types at V Wealth Advisors, although its typical clientele is much more inclusive. The firm also has services available for trusts, estates, pension and profit-sharing plans, charitable organizations, corporations and businesses.
V Wealth Advisors Minimum Account Size
Prospective clients of V Wealth Advisors are required to have $100,000 in investable assets to open an account. The firm reserves the right to adjust or waive this.
Services Offered by V Wealth Advisors
V Wealth Advisors provides investment management and financial planning services. What makes V Wealth distinctive, though, are its services for retirement plans. Check out what the firm can offer you:
- Investment management
- Discretionary portfolio management
- Customized on a per client basis
- Portfolio monitoring and reporting
- Rebalances done as needed
- Third-party manager referral
- Complete manager oversight
- Personalized financial planning
- Retirement plan services
- Discretionary and non-discretionary management
- Preparation of an investment policy statement (IPS)
- Liaison between plan providers, sponsors and vendors
- Ongoing investment management and recommendations
- Performance reports
- Plan participant enrollment and education
V Wealth Advisors Investment Philosophy
V Wealth states in its SEC-filed Form ADV that your initial consultation with your in-house advisor will determine what type of investment strategy is employed within your portfolio. The firm uses a variable system, though. So as your ultimate financial goals change, along with perhaps your risk tolerance, time horizon or income needs, communicate that to your advisor so he or she can shift your investments accordingly.
In order to accommodate the entirety of its client base, V Wealth Advisors uses a multitude of varied investment strategies. This list includes long- and short-term purchases, short sales, alternative investments, margin trading and covered options. When it comes to a specific asset allocation, your portfolio could contain stocks, mutual funds, warrants, corporate bonds, municipal bonds, certificates of deposit (CDs), U.S. government securities, options contracts, futures contracts and interests in partnerships.
Fees Under V Wealth Advisors
V Wealth Advisors lists standard annual percentages for its asset-based investment management fee schedule, as you can see in the table below. These rates, however, are negotiable, meaning your final rates are chosen based on the complexity of your advisory relationship and other considerations. The firm charges its management fees, in advance, on a quarterly basis.
|Investment Management Fees|
|Assets Under Management||Annual Fee|
|Up to $100,000||2.50%|
|$100,001 - $250,000||2.00%|
|$250,001 - $500,000||1.75%|
|$500,001 - $1,000,000||1.50%|
There are a couple of extra charges that might be added onto your investment management fees:
- Report account aggregation: 0.10% annual fee
- Third-party investment manager usage: 0.35% - 1.00% annual fee
If you want a financial plan from V Wealth, you’ll pay either an hourly fee of up to $250 or a fixed fee of up to $5,000. Both rates are negotiable, like the aforementioned investment management services. All fees will be disclosed to you in your advisory agreement. These fees are predominantly charged in arrears, but you may need to pay up to half of them upfront.
Being that the retirement plan services at V Wealth are rather expansive, its fee schedule is equally wide open. In fact, the only exact rate the firm mentions is a negotiable annual fee of up to 1.50%. The firm charges these fees every quarter. Clients can have their fee deducted right from the plan, paid by plan sponsors or paid on behalf of the plan by an outside plan provider.
Check out the table below to see how V Wealth’s fees for its management services compare to those at similar financial advisor firms. Note that these fees are only estimates and actual costs may vary.
|*Fee estimates only consider the maximum base fees for the services each firm provides. You may also pay manager fees and other fees, which can vary in amount. **All figures are based on median fee levels according to Bob Veres' 2017 Planning Profession Fee Survey. The above estimates solely take into account AUM-only fees. Total costs will likely be higher due to additional expenses.|
|Estimated Fee Comparison*|
|Your Assets||V Wealth Advisors Investment Management Fees||National Median Advisory Fees**|
|$1MM||$15,000||$8,500 - $10,000|
|$5MM||Negotiable||$25,000 - $32,500|
What to Watch Out For
Some of the employees at V Wealth Advisors are licensed to sell insurance products as independent insurance agents. If you buy insurance from one of these advisors, they may earn commissions on the sale. While this could constitute a conflict of interest, the firm abides by fiduciary duty. This legally binds them to act in clients’ best interests no matter what.
V Wealth Advisors has a clean legal and regulatory record, meaning there are no disclosures listed on its Form ADV.
Opening an Account With V Wealth Advisors
Clients interested in V Wealth Advisors’ services can call the firm’s headquarters in Overland Park, Kansas, at (913) 827-4600. You can also email the firm at firstname.lastname@example.org or download its Apple and Android mobile apps for more information.
Where Is V Wealth Advisors Located?
V Wealth Advisors operates four main offices at the following addresses:
- Overland Park, KS: 6800 College Boulevard, Suite 630
- Wichita, KS: 515 South Main, Suite 111
- Manhattan, KS: 2401 North Seth Child Road, Suite 120
- Chicago, IL: 5901 North Cicero Avenue, Suite 507
There are four outside financial advisor firms that V Wealth Advisors is associated with. You can find them here:
- Metcalf Partners Wealth Management: 9820 Metcalf Avenue, Suite 130 - Overland Park, KS 66212
- R. Brook Menees: 9401 Indian Creek Parkway, Building 40, Suite 520 - Overland Park, KS 66210
- Balzer Investment Management, LLC: 1000 Essington Road - Shorewood, IL 60404
- Lucas Wealth Strategies: 25444 Shannon Drive - Manhattan, IL 60442
How to Access Investment Management
- If you’re new to investing or you don’t have the time to take care of your portfolio, financial advisors can help out. SmartAsset’s financial advisor matching tool will pair you with up to three advisors in your area who are equipped to handle your personal financial needs. Take a few minutes to fill out our short questionnaire to ensure that the matches you receive are sufficient.
- Financial advisors offer many benefits, but the fees associated with them can be a bit expensive for some. Robo-advisors provide cheaper, automated investment management that’s web-based. These programs use pre-built, diversified portfolio models that you choose based on your desired risk tolerance. Then, as your investments mature, robos usually rebalance your portfolio to maintain the strategy you selected.