Wealthcare Advisory Partners LLC (West Chester)

Name: Wealthcare Advisory Partners LLC
Address: 1065 Andrew Drive, West Chester, PA, 19380
Telephone: 804.644.4711

Wealthcare Advisory Partners LLC is a large advisory firm based in West Chester. It manages $1.08 billion of regulatory assets for 4,825 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Alabama, Arizona, California, and 31 other states.

Wealthcare Advisory Partners provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for approximately 1,500 clients. On top of advisory services, the firm doesn't engage in other business activities.

Wealthcare Advisory Partners: assets under management

The assets under management (AUM) of Wealthcare Advisory Partners LLC is $1.08 billion. The firm's AUM has grown by 6234% since the beginning of its operation, and $392.28 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $1.02 billion in discretionary accounts and $59.79 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $212.23 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.57 million.

Wealthcare Advisory Partners has custody of $19.3 million in cash and securities for 31 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 54% of the total AUM. The second-largest asset type is investment and business development companies, which make up 36% of the firm’s portfolio. Investments in cash and cash equivalents form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Wealthcare Advisory Partners LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. 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 Michael Ashker 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 Michael Ashker is individuals with 2,533 clients and $543.22 million of assets under management. Among the 7 most similar advisory firms, Wealthcare Advisory Partners has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $1.08 billion for 2,795 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.

Wealthcare Advisory Partners doesn't advise any private funds.

Careers at Wealthcare Advisory Partners LLC

The company employs 106 people that are either part- or full-time employees. 66 percent of the employees work as investment advisers or researchers. 70 employees are registered as investment adviser representatives with the state securities authorities.

There are 3 people 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 receive compensation from other entities for client referrals.

Michael Ashker has been acting as President since 1 Jun 2014. Matthew Thomas Regan joined the executive team most recently as the President.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Michael Ashker	President	1 Jun 2014	Other	1296719
Teresa Marie Schafer	Secretary and treasurer	1 Jun 2014	Other	1657564
Wealthcare Holdings Llc	Managing member	1 Jun 2014	75% - 100%	46-3847427
Ronald Eliot Madey	Chief compliance officer	1 Jul 2014	Other	2647000
Mark Bredin	Chief compliance officer	1 Dec 2014	Other	815422
Ronald Eliot Madey	President	1 Jun 2016	Other	2647000
Leonard Alan Reinhart	Chief executive officer	1 Jun 2016	Other	871907
Ronald Eliot Madey	Chief executive officer	1 Apr 2018	Other	2647000
Financeware Llc	Managing member and sole member	1 Apr 2018	75% - 100%	36-4894849
Justin Dubrueler	Chief financial officer	1 Apr 2018	Other	6865294
Matthew Thomas Regan	President	1 Aug 2018	Other	2482606

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Newspring Holdings Llc	Member	1 Jun 2014	50% - 75%	90-0961800
Financeware Holdings Llc F/K/A Wealthcare Holdings Llc	Manager and sole member	1 Apr 2018	75% - 100%	46-3847427

Based in West Chester

The principal office where Wealthcare Advisory Partners LLC performs its advisory services is located at 1065 Andrew Drive, West Chester, PA 19380, which is also the mailing address of the firm. An additional office of the firm is in Haymarket, VA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 804.644.4711 or by fax 804.433.1188. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at owenbyjones.com and its LinkedIn profile.