Dougherty Wealth Advisers LLC (Minneapolis)

Name: Dougherty Wealth Advisers LLC
Address: 90 South Seventh Street, Suite 4300, Minneapolis, MN, 55402
Telephone: 612-317-2099

Dougherty Wealth Advisers LLC is a related adviser based in Minneapolis. It manages $94.92 million of regulatory assets for 105 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdiction of Minnesota.

Dougherty Wealth Advisers provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Dougherty Wealth Advisers: assets under management

The assets under management (AUM) of Dougherty Wealth Advisers LLC is $94.92 million. The firm's AUM has gone down by -9% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $80.67 million in discretionary accounts and $14.25 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $823.17 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.04 million.

Dougherty Wealth Advisers has custody of $94.92 million in cash and securities for 22 clients in total and acts as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 44% of the total AUM. The second-largest asset type is exchange traded securities, which make up 30% of the firm’s portfolio. Investments in state and local bonds form 24% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Dougherty Wealth Advisers LLC for their services and products based on a percentage of assets under management, fixed fees, and commissions. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Dougherty Wealth Advisers serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Dougherty Wealth Advisers is high net worth individuals with 16 clients and $90.92 million of assets under management. Among the 6 most similar advisory firms, Dougherty Wealth Advisers has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $94.92 million for 22 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.

Dougherty Wealth Advisers doesn't advise any private funds.

Careers at Dougherty Wealth Advisers LLC

The company employs 2 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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.

Todd David Witcraft joined the executive team most recently as the Chief Executive Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Michelle Marie Sandberg	Treasurer, secretary	1 Jan 2006	Other	2070925
Pamela Kay Reinitz Ziermann	Chief compliance officer	1 Jan 2006	Other	2083562
Jennifer Ardella Enter Arps	Managing director	1 Jan 2006	Other	4570639
Thomas Joseph Abood	Secretary	1 Jan 2006	Other	2568143
Dougherty Financial Group Llc	Member	1 Mar 2012	75% - 100%	41-1866893
Jeffrey Duane Jacobson	Executive vice president	1 Apr 2012	Other	1976541
Gerald Anthony Kraut	Chief executive officer	1 Apr 2012	Other	1502494
David Evans Rosedahl	General counsel	1 Oct 2016	Other	868211
Roger Allan Norris	Chief compliance officer	1 Nov 2017	Other	2201413
Todd David Witcraft	Chief executive officer	1 Mar 2018	Other	2067534
Thomas Francis Steichen	General counsel, secretary	1 Mar 2018	Other	6920110

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Michael Emmett Dougherty	Member	1 Jan 2006	75% - 100%	70900
Michael Emmett Dougherty	Trustee	1 Apr 2014	50% - 75%	70900
2006 Michael E. Dougherty Revocable Trust Dated March 27	Member	1 Apr 2014	50% - 75%	00-0000000

Based in Minneapolis

The principal office where Dougherty Wealth Advisers LLC performs its advisory services is located at 90 South Seventh Street, Suite 4300, Minneapolis, MN 55402, 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 612-317-2099 or by fax 612-317-2160. 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 doughertywealthadvisers.com.