Lumia Wealth, LLC (Overland Park)

Name: Lumia Wealth, LLC
Address: 6420 West 95 Th Street, Overland Park, KS, 66212 1434
Telephone: 913-381-0280

Lumia Wealth, LLC is a large advisory firm based in Overland Park. It manages $128 million of regulatory assets for 401 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Kansas, Missouri, and Texas.

Lumia Wealth 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.

Lumia Wealth: assets under management

The assets under management (AUM) of Lumia Wealth, LLC is $128 million. The firm's AUM has gone down by -4% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $121.7 million in discretionary accounts and $6.31 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $306.54 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.58 million.

Lumia Wealth has custody of $73.17 million in cash and securities for 38 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 67% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 12% of the firm’s portfolio. Investments in state and local bonds form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Lumia Wealth, LLC for their services and products based on a percentage of assets under management and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Lumia Wealth serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Lumia Wealth is high net worth individuals with 33 clients and $95.47 million of assets under management. Among the 8 most similar advisory firms, Lumia Wealth has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $125.46 million for 108 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.

Lumia Wealth doesn't advise any private funds.

Careers at Lumia Wealth, LLC

The company employs 3 people that are either part- or full-time employees. 33 percent of the employees work as investment advisers or researchers. 2 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
David Louis Imhoff	Member	1 Oct 2002	50% - 75%	4531099
Brian Rouch Brush	Member & chief compliance officer	1 Jan 2014	25% - 50%	3176765

Based in Overland Park

The principal office where Lumia Wealth, LLC performs its advisory services is located at 6420 West 95 Th Street, Overland Park, KS 66212 1434, 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 913-381-0280 or by fax 913-273-1005. 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 lumiawealth.com.