Wipfli Financial Advisors, LLC (Milwaukee)

Name: Wipfli Financial Advisors, LLC
Address: 10000 Innovation Drive, Milwaukee, WI, 53226
Telephone: 414-431-9300

Wipfli Financial Advisors, LLC is a large advisory firm based in Milwaukee. It manages $3.22 billion of regulatory assets for 5,674 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Arizona, California, Colorado, and 24 other states.

Wipfli Financial Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for approximately 1,000 clients. On top of advisory services, the firm doesn't engage in other business activities.

Wipfli Financial Advisors: assets under management

The assets under management (AUM) of Wipfli Financial Advisors, LLC is $3.22 billion. The firm's AUM has grown by 0% since the beginning of its operation, and $2.53 million of the total AUM is attributable to clients outside of the United States.

The firm manages $2.55 billion in discretionary accounts and $668.33 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $456.03 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $7.96 million.

Wipfli Financial Advisors has custody of $514.89 million in cash and securities for 475 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 83% of the total AUM. The second-largest asset type is exchange traded securities, which make up 8% of the firm’s portfolio. Investments in state and local bonds form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Wipfli Financial Advisors, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Jeffrey Lawrence Pierce serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Jeffrey Lawrence Pierce is high net worth individuals with 538 clients and $1.88 billion of assets under management. Among the 7 most similar advisory firms, Wipfli Financial Advisors has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $3.21 billion for 1,838 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.

Wipfli Financial Advisors doesn't advise any private funds.

Careers at Wipfli Financial Advisors, LLC

The company employs 82 people that are either part- or full-time employees. 91 percent of the employees work as investment advisers or researchers. 56 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Jeffrey Lawrence Pierce has been acting as President since 1 Feb 2019. Rafia Khushbakht Hasan has served as the Chief Investment Officer since 1 Nov 2017. Gennady Bekasov joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Llc Wipfli Financial	Member	1 Jul 2000	75% - 100%	39-1947134
Julie Rae Nichols	Interim chief executive officer/chief operating officer/chief financial officer	1 Apr 2014	Other	4549106
Gennady Bekasov	Chief compliance officer	1 Oct 2016	Other	5240357
Rafia Khushbakht Hasan	Chief investment officer	1 Nov 2017	Other	4671801
Jeffrey Lawrence Pierce	Chief executive officer/president	1 Feb 2019	Other	6105421

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Wipfli Llp	Member of wipfli financial, llc	1 Jul 2000	75% - 100%	39-0758449

Based in Milwaukee

The principal office where Wipfli Financial Advisors, LLC performs its advisory services is located at 10000 Innovation Drive, Milwaukee, WI 53226, which is also the mailing address of the firm. An additional office of the firm is in Wausau, WI. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 414-431-9300 or by fax 414-431-9303. The normal business hours are 8:00 am to 5:00 pm central standard time on Monday - Friday. You can find more information about the New York firm at wipflifinancial.com.