Physician Wealth Solutions Inc. (Las Vegas)

Name: Physician Wealth Solutions Inc.
Address: 8775 Lufield Ridge Ct., Las Vegas, NV, 89149
Telephone: 404-386-7641

Physician Wealth Solutions Inc. is a large advisory firm based in Las Vegas. It manages $143.38 million of regulatory assets for 429 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of California, Florida, Georgia, and 5 other states.

Physician Wealth Solutions provides financial planning services, portfolio management for individuals and small businesses, and pension consulting services. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Physician Wealth Solutions: assets under management

The assets under management (AUM) of Physician Wealth Solutions Inc. is $143.38 million. The firm's AUM has grown by 39% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $138.07 million in discretionary accounts and $5.31 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $325.63 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.06 million.

Investments

The firm invests in investment and business development companies the most. They account for 95% of the total AUM. The second-largest asset type is exchange traded securities, which make up 4% of the firm’s portfolio. Investments in cash and cash equivalents form 1% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Physician Wealth Solutions Inc. for their services and products based on a percentage of assets under management 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 Physician Wealth Solutions serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Physician Wealth Solutions is high net worth individuals with 64 clients and $125.32 million of assets under management. Among the 13 most similar advisory firms, Physician Wealth Solutions has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $139.32 million for 103 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.

Physician Wealth Solutions doesn't advise any private funds.

Careers at Physician Wealth Solutions Inc.

The company employs 1 person that is either a part- or full-time employee. 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Setu Shubhang Mazumdar	President & chief compliance officer, and chief operating officer	1 Sep 2009	75% - 100%	5713552

Based in Las Vegas

The principal office where Physician Wealth Solutions Inc. performs its advisory services is located at 8775 Lufield Ridge Ct., Las Vegas, NV 89149, 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 404-386-7641 or by fax 8885134141. The normal business hours are 9:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at physicianwealthsolutions.com.