Formerly known as Sontag Advisory, Wealthspire Advisors is a large financial advisory firm with its headquarters located in Manhattan. This firm is fee-based and has a massive team of advisors on staff to manage a similarly large pool of client assets. Wealthspire works with thousands of individual and institutional clients. The firm provides financial planning, portfolio management and other wealth management services to clients. The firm also holds a spot on our list of New York City's top financial advisors.
As a fee-based firm, at least one of its advisors can earn compensation from the sale of insurance products to advisory clients. This compensation is in addition to the advisory fees that Wealthspire clients pay. However, the firm is a fiduciary and none of its advisors sell securities for commissions.
Wealthspire Advisors Background
Wealthspire Advisors was founded in 1995, so it's been around for a while. It became an SEC-registered investment advisor the same year. The firm was wholly owned by NFP Corp. since 2015. NFP completed the sale of five subsidiary businesses, including Wealthspire, to Madison Dearborn Partners, LLC, and those businesses became wholly owned subsidiaries of Wealthspire, LP in 2025.
According to the firm’s brochure, Mike LaMena serves as CEO of Wealthspire, LP. Eric Sontag is president of the firm, Channing Olson is chief operating officer, Michael Del Priore is chief compliance officer and Brian Powers is chief financial officer.
Wealthspire Advisors has a large team of advisors in its network, many of whom are financially certified. These include the Certified Financial Planner™ (CFP®), Certified Public Accountant (CPA) and Chartered Financial Analyst (CFA) designations, among others.
Wealthspire Advisors Client Types and Minimum Account Sizes
Wealthspire Advisors currently works with a wide range of clients, both individual and institutional. However, most of the firm's clients are individuals. About half of Wealthspires' clients have a high net worth. Institutional clients currently include pension and profit-sharing plans, charitable organizations, government entities and businesses.
While Wealthspire doesn't have set minimum account sizes, it does recommend that clients have certain amounts for specific programs. These recommendations vary from $100,000 up to $5 million.
Services Offered by Wealthspire Advisors
Wealthspire Advisors offers a wide range of services to clients through its network of advisors. Services may include one of or several of the following:
- Investment management
- Outsourced chief investment officer (OCIO)
- Asset allocation planning
- Risk management
- Financial planning and consulting
- Income and savings planning
- Retirement planning
- Tax planning
- Trust and estate planning
- Charitable gift planning
- Comprehensive reporting
- Tax reporting
- Insurance planning
- state and wealth transfer planning
- Education planning
- Philanthropic and charitable gift planning
- Family office services
- Trustee services
- Retirement plan advisory services
Clients may also utilize more specific services offered through individually managed accounts. These strategies and programs may include:
- Wealthspire Advisors Wealth Management
- Wealthspire Advisors Institutional
- Wealthspire Advisors Retirement Plan Management Service
- Prosperity Program Services
- Wrap Fee Program
Advisors may also provide investment consulting services and provide access to unaffiliated private investment funds.
Wealthspire Advisors Investment Strategy
Specific investment strategies at Wealthspire Advisors vary significantly depending on the type of investment solution you choose or the type of account you open. Advisors work directly with clients to determine their overall financial situation, about such information as a client's risk tolerance, liquidity needs, time horizon and more. Advisors can then figure out the best approach for managing the client's assets.
Advisors at Wealthspire look to achieve results in the medium to long term. They constantly monitor for new investment opportunities while simultaneously evaluating existing investments. The firm adheres to five main tenets when it comes to asset management:
- Risk management
- Asset allocation
- Ongoing portfolio monitoring
- Being mindful of fees and taxes
- Minimizing investment turnover
The firm’s brochure says it primarily recommends investing client portfolios in a mix of active and/or passive mutual funds, ETFs, separate account managers and private and/or illiquid vehicles, unless the client and advisor agree to exceptions. The firm may also recommend unaffiliated private investment funds, but clients make the final investment decision.
Fees at Wealthspire Advisors
Wealthspire’s fees are generally agreed to with each client in writing and may vary by service type, account size, relationship complexity and other factors. For wealth management clients, the firm typically charges an annual percentage-based fee, though it may also use minimum fees or other fee arrangements.
For institutional clients, Wealthspire recommends a minimum account size of $5 million, which results in a 0.75% effective annual fee at that level. The firm may accept smaller institutional accounts, but fees may be higher.
For retirement plan management, Wealthspire recommends a minimum account size of $250,000, which results in a 0.50% effective annual fee at that level. This minimum may be waived.
For Prosperity Program Services, Wealthspire charges up to 1.25% on assets managed through the Prosperity platform. The minimum account size is $100,000, though the firm may waive it.
Wealthspire may also use flat-rate or fixed-dollar fees. Flat-rate fees generally do not exceed 1.20% of assets under management, while fixed-dollar fees are generally subject to a $5,000 minimum.
Separate account managers may charge annual fees ranging from 0.10% to 0.85% of assets under management. These fees are separate from Wealthspire’s advisory fee.
Financial planning and consulting fees are typically fixed fees based on the service requested and the complexity of the client’s situation. Up to 50% may be due when the agreement is signed, with the balance due when services are completed.
Wealthspire may also enter into fixed-fee arrangements with clients. These arrangements typically won't exceed 1.20% of assets annually. On some occasions, the firm may provide investment advisory or consulting services for a minimum fixed fee of $5,000.
What to Watch Out For
Wealthspire has no disclosures reported on its SEC-filed Form ADV.
As mentioned earlier, one of the firm's advisors is also licensed to sell insurance through a company he owns separately. As a result, he may receive commissions from selling insurance policies to advisory clients, creating a conflict of interest. While this makes the firm fee-based, Wealthspire Advisors is still a fiduciary. This means that advisors are legally obligated to act in the best interests of clients at all times.
Opening an Account With Wealthspire Advisors
If you're interested in opening an account with Wealthspire, go online to the firm's website and submit a contact form. You can also call the firm over the phone at(212) 973-1200 or visit one of its various offices in person.
All information is accurate as of the writing of this article.
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- Ask prospective advisors if they have any financial certifications. Certified Financial Planners™ (CFPs®), for example, hold themselves to high standards and work as fiduciaries. This means they are obligated to provide advice solely in their client’s best interests.
