Mckinley Carter Wealth Services, Inc. (Wheeling)


Mckinley Carter Wealth Services, Inc. is a large advisory firm based in Wheeling. It manages $1 billion of regulatory assets for 2,352 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of California, Florida, Louisiana, and 11 other states.

Mckinley Carter Wealth Services provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and investment consulting. It prepares financial plans for approximately 1,000 clients. On top of advisory services, the firm doesn't engage in other business activities.

Mckinley Carter Wealth Services: assets under management

The assets under management (AUM) of Mckinley Carter Wealth Services, Inc. is $1 billion. The firm's AUM has grown by 281% since the beginning of its operation, and $7.19 million of the total AUM is attributable to clients outside of the United States.

The firm manages $808.71 million in discretionary accounts and $195.13 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $368.77 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.23 million.
Mckinley Carter Wealth Services has custody of $194.65 million in cash and securities for 275 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 63% of the total AUM. The second-largest asset type is investment and business development companies, which make up 29% of the firm’s portfolio. Investments in cash and cash equivalents form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Mckinley Carter Wealth Services, Inc. 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 Mckinley Carter Wealth Services serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, banking or thrift institutions, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Mckinley Carter Wealth Services is high net worth individuals with 202 clients and $556.74 million of assets under management. Among the 11 most similar advisory firms, Mckinley Carter Wealth Services has the 4th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1 billion for 937 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Mckinley Carter Wealth Services doesn't advise any private funds.

Careers at Mckinley Carter Wealth Services, Inc.

The company employs 37 people that are either part- or full-time employees. 57 percent of the employees work as investment advisers or researchers. 21 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 people 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.

Frederic Howells Tipper has served as the Chief Investment Officer since 1 Sep 2012. Lori Beth Payne joined the executive team most recently as the Chief Administrative Officer And Chief Financial Officer.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
David Holman Mckinley President, managing director, chief executive officer 1 Sep 2005 25% - 50% 2502011
Zachary Thomas Abraham Director of operations/chief compliance officer 1 Sep 2006 Other 5239984
Zachary Thomas Abraham Director of operations/chief compliance officer 1 Oct 2006 Other 5239984
Laura Olech Reed Director of marketing 1 Oct 2006 Other 2290667
William Walden Carter Director, wealth management and trust services 1 Oct 2007 25% - 50% 4377462
Arthur Lawrence Crimmins Chief financial officer 1 Oct 2007 Other 5190818
Brian Scott Sommers Chief investment officer 1 Nov 2007 Other 1487020
Brian Tyrone Gongaware Director, advisory services, chief compliance officer 1 Apr 2009 Other 4374989
William R Shipley Chief administrative officer 1 Jun 2011 Other 6041007
Frederic Howells Tipper Chief investment officer 1 Sep 2012 Other 1218424
Brian Ross Lipton Regional director 1 Jan 2014 Other 4555187
Lori Beth Payne Chief administrative officer and chief financial officer 1 Jan 2015 Other 6466907
Meredith Leigh Trischler Controller 1 Jan 2015 Other 6466908

Based in Wheeling

The principal office where Mckinley Carter Wealth Services, Inc. performs its advisory services is located at 2100 Market Street, Wheeling, WV 26003, which is also the mailing address of the firm. An additional office of the firm is in Parkersburg, WV. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 304-230-2400 or by fax 304-230-2401. The normal business hours are 9:00 am to 4:00 pm on Monday - Friday. You can find more information about the New York firm at smartforyourmoney.com.

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