Veris Wealth Partners Review
Veris Wealth Partners is a San Francisco-based financial advisor firm that currently manages more than $1 billion in assets and has nine financial advisors on staff. The firm works primarily with individual clients, along with some charities, retirement plans and investment funds. A plethora of financial planning and investment management services are available for clients to take advantage of.
As a fee-only firm, Veris earns all of its revenue purely from the advisory fees that clients pay. This differs from a fee-based firm, where advisors may earn commissions by doing things like selling insurance products or overseeing securities transactions.
Veris Wealth Partners Background
Veris Wealth Partners was founded in 2007 by managing partner Steve Fahrer, CEO Patricia Farrar-Rivas, partner Anders Ferguson and chief investment officer (CIO) Michael Lent. The firm is entirely employee-owned by these four founders, plus partner Alison Pyott, managing director of marketing and business development Casey Verbeck and senior wealth managers Jane Swan, Lori Choi and Nicole Davis.
Of the nine advisors working at Veris, one is a chartered financial analyst (CFA) and three are certified investment management analysts (CIMAs).
What Types of Clients Does Veris Wealth Partners Accept?
High-net-worth individuals make up the largest portion of the client base at Veris Wealth Partners, followed closely by non-high-net-worth individuals. The firm also works with roughly 30 charitable organizations, plus one pooled investment vehicle - a hedge fund called the Veris Global Sustainability Fund.
Veris Wealth Partners Minimum Account Size
To become a client at Veris Wealth Partners, the firm generally requires a minimum account size of $2 million. The firm does, however, waive this minimum at its discretion, which explains why the firm counts many non-high-net-worth individuals as clients.
Services Offered by Veris Wealth Partners
You can take a look at the following breakdown to get an idea of the service offerings at Veris Wealth Partners:
- Investment management
- Asset allocation planning
- Investment policy statement (IPS) determination
- Financial planning
- Retirement accumulation planning
- Retirement income planning
- Education and college planning
- Employer retirement planning [reviewing 401(k) or 403(b) asset allocations]
- Employee benefits planning
- Budget and cash flow planning
- Financial impact planning for life events such as a new job, divorce, inheritance, asset liquidation or the birth/death of a family member
- Providing mission-related investing and impact investing education
- Development of mission-related investing and impact investing guidelines
- IPS drafting, or review to address financial and mission/impact guidelines
- Impact investment manager search and selection
- Miscellaneous consulting such as the selection of a bookkeeper or a family office
Veris Wealth Partners Investment Philosophy
Veris Wealth Partners centers its investment philosophy around five primary tenets:
- Portfolio construction driven by client goals
- Strategic asset allocation and disciplined rebalances
- Long-term perspective to maximize growth opportunity
- Environmental, social and governance (ESG) sustainability principles add value
- Investors can have impact across all asset classes and strategies
The firm generally constructs client portfolios using mutual funds, exchange-traded funds (ETFs), private equity funds, real estate funds, fund-of-funds and third-party investment managers. Veris practices impact investing and sustainability investing, which seeks out companies and investments that don't have connections to excessive carbon emissions or environmental degradation.
Fees Under Veris Wealth Partners
Veris Wealth Partners charges a percentage-based fee for investment management services, which normally adheres to the following schedule:
|Fees at Veris Wealth Partners|
|Asset Level||Annual Fee Rate|
For financial planning or consulting services, the firm may charge a fixed or hourly fee. If fixed, the fee will range from $2,500 to $10,000 for financial planning and $5,000 to $250,000 for consulting. This variance depends on the nature of the services being provided. If hourly, the fee will likely vary between $250 and $1,000.
Veris Wealth Partners has no disclosures listed on its Form ADV, meaning it has a clean legal and regulatory record.
Opening an Account with Veris Wealth Partners
To open an account with Veris Wealth Partners, you can visit the firm's website and fill out the contact form with your name and email address, or you can call the firm's San Francisco headquarters at (415) 814-0580.
Veris Wealth Partners is based in San Francisco in the Russ Building, on the corner of Montgomery Street and Bush Street. In addition, the firm has offices in Portsmouth, New Hampshire; Boulder, Colorado; and New York City.
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