Wheatland Advisors Inc (Lancaster)

Name: Wheatland Advisors Inc
Address: 500 Olde Hickory Road, Suite 1, Lancaster, PA, 17601
Telephone: 717-299-6090

Wheatland Advisors Inc is a large advisory firm based in Lancaster. It manages $163.69 million of regulatory assets for 232 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Pennsylvania and Texas.

Wheatland Advisors provides portfolio management for individuals and small businesses and pension consulting services. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Wheatland Advisors: assets under management

The assets under management (AUM) of Wheatland Advisors Inc is $163.69 million. The firm's AUM has grown by 92% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $159.46 million in discretionary accounts and $4.24 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $738.22 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $264.91 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 81% of the total AUM. The second-largest asset type is cash and cash equivalents, 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 Wheatland Advisors Inc for their services and products based on a percentage of assets under management and hourly charges. 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 Richard Paul Heilig 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 Richard Paul Heilig is high net worth individuals with 61 clients and $127.82 million of assets under management. Among the 9 most similar advisory firms, Wheatland Advisors has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $159.46 million for 152 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.

Wheatland Advisors doesn't advise any private funds.

Careers at Wheatland Advisors Inc

The company employs 6 people that are either part- or full-time employees. 33 percent of the employees work as investment advisers or researchers. 6 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.

Richard Paul Heilig has been acting as President since 1 Dec 1990. Barbara E Brobst joined the executive team most recently as the President.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Richard Paul Heilig	President/chief compliance officer	1 Dec 1990	75% - 100%	4347661
Orrstown Financial Services Inc	Parent company	1 Dec 2016	75% - 100%	23-2530374
Philip Edward Fague	President	1 Dec 2016	Other	6730293
Susan Arlette Russell	Chief compliance officer	1 Apr 2017	Other	6239811
Andrew C Reath	Chief compliance officer	1 Mar 2018	Other	5844288
Barbara E Brobst	President	1 Mar 2019	Other	2932483

Based in Lancaster

The principal office where Wheatland Advisors Inc performs its advisory services is located at 500 Olde Hickory Road, Suite 1, Lancaster, PA 17601, 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 717-299-6090 or by fax 717-299-6029. The normal business hours are 8-5 on Monday - Friday. You can find more information about the New York firm at wheatlandadvisors.com.