Veripax Wealth Management, LLC (Folsom)

Name: Veripax Wealth Management, LLC
Address: 101 Parkshore Dr., Ste 100, Folsom, CA, 95630
Telephone: 916-358-5635

Veripax Wealth Management, LLC is a large advisory firm based in Folsom. It manages $146.4 million of regulatory assets for 704 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdiction of California.

Veripax Wealth Management provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Veripax Wealth Management: assets under management

The assets under management (AUM) of Veripax Wealth Management, LLC is $146.4 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 11% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $146.4 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $207.95 thousand each.

Veripax Wealth Management has custody of $95 million in cash and securities for 150 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 33% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 24% of the firm’s portfolio. Investments in investment grade corporate bonds form 20% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Veripax Wealth Management, LLC for their services and products based on a percentage of assets under management and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Veripax Wealth Management serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Veripax Wealth Management is high net worth individuals with 72 clients and $115.65 million of assets under management. Among the 11 most similar advisory firms, Veripax Wealth Management has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $146.4 million for 200 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Veripax Wealth Management doesn't advise any private funds.

Careers at Veripax Wealth Management, LLC

The company employs 3 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. 2 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Jerry Arnold Verseput	Cco, managing member	1 Jul 2012	75% - 100%	5107727

Based in Folsom

The principal office where Veripax Wealth Management, LLC performs its advisory services is located at 101 Parkshore Dr., Ste 100, Folsom, CA 95630, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 916-358-5635 or by fax 916-404-4279. The normal business hours are 8:00am-5:00pm on Monday - Friday. You can find more information about the New York firm at veripax.net and its LinkedIn profile.