Wallace Hart LLC (Lexington)

Name: Wallace Hart LLC
Address: 1792 Alysheba Way, Lexington, KY, 40509
Telephone: 859-300-3030

Wallace Hart LLC is a large advisory firm based in Lexington. It manages $160 million of regulatory assets for 569 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Illinois, Kentucky, Michigan, and 3 other states.

Wallace Hart 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.

Wallace Hart: assets under management

The assets under management (AUM) of Wallace Hart LLC is $160 million. The firm's AUM has grown by 51% since the beginning of its operation, and $866 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $149 million in discretionary accounts and $11 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $415.04 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $52.38 thousand.

Investments

The firm invests in cash and cash equivalents the most. They account for 88% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 12% of the firm’s portfolio.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Wallace Hart LLC for their services and products based on a percentage of assets under management. 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 Wallace Hart serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Wallace Hart is high net worth individuals with 45 clients and $107 million of assets under management. Among the 1 most similar advisory firms, Wallace Hart has the 0th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $160 million for 160 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.

Wallace Hart doesn't advise any private funds.

Careers at Wallace Hart LLC

The company employs 5 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. 3 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
Jeremy Nathan Wallace	Founder, elected manager, chief investment officer, & chief compliance officer	1 Feb 2017	50% - 75%	3040496
Michael Andrew Hart	Founder, member & chief planning strategist	1 Feb 2017	25% - 50%	6027005
Llc Bourne Wallace	Owner	1 Jul 2019	50% - 75%	84-2072025
Llc Hart Consulting	Owner	1 Jul 2019	25% - 50%	84-2230431

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Jeremy Nathan Wallace	Manager and member	1 Jun 2019	75% - 100%	3040496
Michael Andrew Hart	Manager and member	1 Jun 2019	75% - 100%	6027005

Based in Lexington

The principal office where Wallace Hart LLC performs its advisory services is located at 1792 Alysheba Way, Lexington, KY 40509, 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 859-300-3030 or by fax 859-300-3025. The normal business hours are 8:00 am-5:00 pm on Monday - Friday. You can find more information about the New York firm at wallacehart.com.