Wealthsource Partners, LLC (Arroyo Grande)

Name: Wealthsource Partners, LLC
Address: 1238 E. Grand Avenue, Arroyo Grande, CA, 93420
Telephone: 805-546-1000

Wealthsource Partners, LLC is a large advisory firm based in Arroyo Grande. It manages $730.3 million of regulatory assets for 3,407 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Arizona, Arkansas, California, and 29 other states.

Wealthsource 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 less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Wealthsource Partners: assets under management

The assets under management (AUM) of Wealthsource Partners, LLC is $730.3 million. The firm's AUM has grown by 92% since the beginning of its operation, and $419.04 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $714.81 million in discretionary accounts and $15.49 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $211.05 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $774.64 thousand.

Wealthsource Partners has custody of $124.82 million in cash and securities for 335 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 28% of the firm’s portfolio. Investments in cash and cash equivalents form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Wealthsource Partners, 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 Wealthsource Partners 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 Wealthsource Partners is high net worth individuals with 171 clients and $342.4 million of assets under management. Among the 7 most similar advisory firms, Wealthsource Partners has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $730.3 million for 1,553 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.

Wealthsource Partners doesn't advise any private funds.

Careers at Wealthsource Partners, LLC

The company employs 46 people that are either part- or full-time employees. 76 percent of the employees work as investment advisers or researchers. 35 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 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.

Luke Patrick Nagell has served as the Chief Investment Officer since 1 Jan 2018. Christopher Maxime Shea joined the executive team most recently as the Chief Investment Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Llc Vellum Financial	Member	1 Nov 2015	50% - 75%	149909
Avant Garde Advisors Llc	Member	1 Nov 2015	50% - 75%	151527
Arlo Bryan Sullivan	Chief executive officer & elected manager	1 Nov 2015	Other	2209899
Jon Edward Dubravac	Chief development officer & elected manager	1 Nov 2015	Other	5307200
Eric Dwayne Patton	Chief operating officer & elected manager	1 Nov 2015	Other	5136912
Kelly Morrow Smith	Chief strategy officer & elected manager	1 Nov 2015	Other	2767394
Mark Peter Malek	Chief investment officer	1 Nov 2015	Other	1999171
David Akira Ito	Chief compliance officer & general counsel	1 Nov 2015	Other	6444780
David Ito	Chief compliance officer & general counsel	1 Nov 2015	Other	6444780
David Akira Ito	Chief compliance officer & general counsel	1 Jan 2016	Other	6444780
Llc Vellum Financial	Member	1 Feb 2016	25% - 50%	149909
Avant Garde Advisors Llc	Member	1 Feb 2016	25% - 50%	151527
Jon Edward Dubravac	Chief development officer & elected manager	1 Feb 2016	Other	5307200
Eric Dwayne Patton	Chief operating officer & elected manager	1 Feb 2016	Other	5136912
Kelly Morrow Smith	Chief strategy officer	1 Feb 2016	Other	2767394
Luke Patrick Nagell	Chief investment officer	1 Jan 2018	Other	5239324
Douglas Boyd May	Chief investment officer	1 Sep 2018	Other	4901837
Avant Garde Wealth Management Inc.	Member	1 Sep 2018	25% - 50%	27-0315379
Christopher Maxime Shea	Chief investment officer	1 May 2019	Other	4244023

Indirect Owners

The SEC currently registers 6 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Jon Edward Dubravac	Chief executive officer	1 Jul 2009	Other	5307200
Eric Dwayne Patton	Chief financial officer	1 Aug 2009	25% - 50%	5136912
Arlo Bryan Sullivan	Managing member	1 Sep 2009	25% - 50%	2209899
Avant Garde Wealth Management Inc.	Managing member	1 Sep 2009	75% - 100%	27-0315379
Kevin Charles Swanson	Member	1 Feb 2012	25% - 50%	2528342
Kelly Morrow Smith	Member	1 May 2012	25% - 50%	2767394

Based in Arroyo Grande

The principal office where Wealthsource Partners, LLC performs its advisory services is located at 1238 E. Grand Avenue, Arroyo Grande, CA 93420, which is also the mailing address of the firm. An additional office of the firm is in Eagle, ID. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 805-546-1000. The normal business hours are 8:00 am - 5:00 am on Monday - Friday. You can find more information about the New York firm at wealthsourcepartners.com.