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Venturi Wealth Management Review

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Venturi Wealth Management, LLC

Venturi Wealth Management, LLC is a relatively new financial advisor firm, founded in 2015 by two former Merrill Lynch advisors. Despite being a newcomer, the company is comprised of industry professionals who have more than 150 years of combined experience.

The firm has advisors located in Austin, where it's headquartered, and at its office in Oklahoma City. In addition to Texas and Oklahoma, the firm is registered in Nebraska and Louisiana.

Venturi Wealth Management Background 

Russell Norwood, CEO, is one of the principal owners of Venturi Wealth Management. Norwood is a certified financial planner (CFP) and a certified investment management analyst (CIMA). He spent 23 years at Merrill Lynch prior to founding the firm and has worked in financial services since 1986.

George Clark, chief investment officer, worked at Merrill Lynch for 18 years as an institutional relationship manager. He is a chartered financial analyst (CFA).

While Venturi has about 15 employees, only nine of them serve in advisory roles. Including Norwood and Clark's certifciations, the team in Austin includes three CFPs, three CFAs and two CIMAs.

Venturi Wealth Management Client Types and Minimum Account Sizes

While Venturi serves individuals, trusts, estates, charitable organizations, corporations and pooled investment vehicles, the company’s focus is on high-net-worth individuals. To work with Venturi, you need a minimum of $2.5 million. The firm’s services are tailored to serve those with significant wealth.

Services Offered by Venturi Wealth Management

Venturi Wealth Management offers financial planning, portfolio management and a selection of other advisors (including private fund managers). Its financial planning and consulting services may include any of the following: investment consulting, insurance planning, retirement planning, charitable giving, business planning, cash flow forecasting, trust and estate planning, financial reporting, distribution planning, tax planning, manager due diligence and executive stock planning. The firm is able to provide these services in conjunction with investment portfolio management or on a standalone basis.

For portfolio management, a client's assets will be allocated among securities such as: 

  • Mutual funds
  • Exchange-traded funds
  • Individual debt and equity securities
  • Options 
  • Independent investment managers 

Your asset allocation will depend on your risk tolerance, time horizon, liquidity constraints and other relevant factors. Your initial discussions with your advisor will help shape your portfolio’s investment strategy.  

Venturi Wealth Management Investing Philosophy  

Venturi advisors think of themselves as contrarian investors who have a bias for high-quality investment alternatives. This means the company has a long time horizon when buying and selling, rather than use short-term trading strategies.  

The company uses the fundamental method of analysis. This involves an evaluation of the financial condition and surrounding economics behind a particular fund or issuer. The method involves examining qualitative and quantitative factors such as revenues, earnings future growth and more.

How the investment philosophy is applied depends on your goals. Cash flow is usually a concern of most clients and your other financial objectives will guide your portfolio’s construction. 

Fees Under Venturi Wealth Management 

Venturi is a fee-based investment advisory firm. This means that in addition to charging investment advisory fees that are a percentage of your portfolio, it collects transaction-based fees from selling products. In Venturi's case, some of its advisors earn commissions for the sale of certain insurance products.

Venturi’s fees are tiered, similarly to many other firms. This means that you calculate the fee based on the different levels shown below. For example, if your portfolio is $7 million, the first $2.50 million is calculated at 1.00%, the next $2.5 million at 0.85% and the last $2 million at 0.75% for $61,250 total. You can see a full table of rates below.

Venturi Wealth Management Fees
Portfolio Value Fee Rate
Up to $2,500,000 1.00%
$2,500,001 - $5,000,000 0.85%
$5,000,001 - $10,000,000 0.75%
$10,000,001 - $25,000,000 0.65%
$25,000,001 - $50,000,000 0.60%
Above $50,000,000 0.55%

The fees are depicted as yearly, but at Venturi you’re charged monthly in arrears. Note that there is a minimum $10,000 wealth management fee for all accounts. 

Accounts smaller than $2.5 million are charged more than the industry average, which is 0.95%, according to a 2018 study of 1,500 firms by RIA in a Box. Here is the estimated dollar amount you'd pay in advisory fees based on the size of your account:

*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.
Estimated Investment Management Fees at Venturi Wealth Management*
Your Assets Annual Fee Amount
$2.5MM $25,000
$5MM $42,500
$10MM $75,000
$25MM $162,500
$50MM $300,000
$75MM $412,500

For financial planning or consulting services for standalone engagements, Venturi charges a fixed fee or hourly rate. Generally, this will cost $1,000 and up.  

The company also provides business advisory services at an hourly rate.  

Clients are responsible for paying brokerage fees imposed by third parties. This includes brokerage commissions, custodial fees, margin costs, mutual fund or ETF charges and more. This means if trades are executed for your account, you are responsible for the associated fees.

Learn more about advisors' typical costs here.

Venturi Wealth Management Awards and Recognition 

Venturi Wealth Management was named one of the 2020 Top 300 Financial Advisors in the U.S. by the Financial Times. In 2017 and 2018, Financial Times recognized Venturi as one of its Top 300 Registered Investment Advisors. 

Barron’s named CEO and co-founder Russell Norwood as one of its Top 1,000 Financial Advisors in the U.S. from 2009 through 2015.

What to Watch Out For 

Venturi Wealth Management had no disclosures of legal or disciplinary action in its most recent filings with the Securities and Exchange Commission (SEC).

One thing to note: as mentioned earlier, the firm's team includes two licensed insurance agents. Though this could be a benefit to clients who need of insurance products, the firm's employees do sell these products on a commission basis. This could present a potential conflict of interest, as the employees will have a financial incentive to sell these products. That said, as an SEC-registered investment advisor, Venturi Wealth is legally bound by its fiduciary duty to put clients' interests first.

Opening an Account With Venturi Wealth Management  

If you want to work with Venturi, you can get the ball rolling by calling (512) 220-2035, emailing info@venturiwealth.com or filling out a short contact form on its website.  

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

Tips for Financial Planning

  • Financial planning can be difficult and overwhelming. You want to make sure you have the best plan in place with as little hassle as possible, which is something a financial advisor can help with. 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 that will help you achieve your financial goals, get started now.
  • Use SmartAsset’s investment calculator to help you reach your goals. Input how much you’re starting with, how fast you want it to grow, and how long you want to invest — and the calculator will have you well on your way to reaching your financial goals.

How Many Years $1 Million 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 To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

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%. This reflects the typical return on a conservative investment portfolio. 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