Wealth Enhancement Advisory Services, LLC (Plymouth)

Wealth Enhancement Advisory Services, LLC is a large advisory firm based in Plymouth. It manages $8.39 billion of regulatory assets for 38,065 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 47 other states.

Wealth Enhancement Advisory Services provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, selection of other advisers, educational seminars and workshops, and erisa 3(38) investment manager. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Wealth Enhancement Advisory Services: assets under management

The assets under management (AUM) of Wealth Enhancement Advisory Services, LLC is $8.39 billion. The firm's AUM has grown by 11982% since the beginning of its operation, and $5.74 million of the total AUM is attributable to clients outside of the United States.

The firm manages $7.46 billion in discretionary accounts and $924.72 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $228.13 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $172.59 thousand.

Wealth Enhancement Advisory Services has custody of $3.17 billion in cash and securities for 6,540 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 61% of the total AUM. The second-largest asset type is exchange traded securities, which make up 32% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Wealth Enhancement Advisory Services, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. 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 Todd Jeffrey Solow serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Todd Jeffrey Solow is high net worth individuals with 1,984 clients and $4.93 billion of assets under management. Among the 8 most similar advisory firms, Wealth Enhancement Advisory Services has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $8.39 billion for 12,962 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.

Wealth Enhancement Advisory Services doesn't advise any private funds.

Careers at Wealth Enhancement Advisory Services, LLC

The company employs 260 people that are either part- or full-time employees. 92 percent of the employees work as investment advisers or researchers. 131 employees are registered as investment adviser representatives with the state securities authorities.

There are 4 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 receive compensation from other entities for client referrals.

Todd Jeffrey Solow has been acting as President since 1 Oct 2007. Jennifer Elizabeth Boland joined the executive team most recently as the Vice President.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 26 indirect owners.

Based in Plymouth

The principal office where Wealth Enhancement Advisory Services, LLC performs its advisory services is located at 505 North Hwy 169, Plymouth, MN 55441, which is also the mailing address of the firm. An additional office of the firm is in Eden Prairie, MN. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 763-417-1700 or by fax 763-417-1701. The normal business hours are 8:00a.m.-5:00 p.m. on Monday - Friday. You can find more information about the New York firm at wealthenhancement.com.

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