Venturi Wealth Management, LLC (Austin)


Venturi Wealth Management, LLC is a large advisory firm based in Austin. It manages $1.2 billion of regulatory assets for 1,861 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of Florida, Louisiana, Nebraska, Oklahoma, and Texas.

Venturi Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and selection of other advisers. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Venturi Wealth Management: assets under management

The assets under management (AUM) of Venturi Wealth Management, LLC is $1.2 billion. The firm's AUM has grown by 337% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.18 billion in discretionary accounts and $25.85 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $664.22 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $280.98 thousand.
Venturi Wealth Management has custody of $536.26 million in cash and securities for 136 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 56% of the total AUM. The second-largest asset type is state and local bonds, which make up 20% of the firm’s portfolio. Investments in investment grade corporate bonds form 11% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Venturi Wealth Management, LLC for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and performance-based 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 Venturi Wealth Management serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, and pension and profit sharing plans. The largest group of clients of Venturi Wealth Management is high net worth individuals with 180 clients and $1.08 billion of assets under management. Among the 6 most similar advisory firms, Venturi Wealth Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.2 billion for 264 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.

Venturi Wealth Management also advises several private funds. Namely, two other private funds and two private equity funds. The minimum investment commitment required of non-related persons ranges from $0 to $500,000.

Careers at Venturi Wealth Management, LLC

The company employs 20 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. 11 employees are registered as investment adviser representatives 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 compensates 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
Russell Wayne Norwood Member 1 Aug 2015 75% - 100% 1552738
George L Clark Member 1 Aug 2015 25% - 50% 1012473
Robert Andrew Rinner Chief compliance officer 1 Aug 2015 Other 1635888
George Lawson Clark Member 1 Aug 2015 Other 1012473
Richard Michael Banks Chief financial officer and chief operating officer 1 Jun 2016 Other 6685610
James Michael Sanders Member 1 Oct 2016 Other 1342176

Based in Austin

The principal office where Venturi Wealth Management, LLC performs its advisory services is located at 3600 N. Capital Of Texas Hwy., Austin, TX 78746, which is also the mailing address of the firm. An additional office of the firm is in Oklahoma City, OK. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (512) 220-2035 or by fax (512) 220-2045. 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 venturiwealthmanagement.com.