Hanc Wealth Management, LLC (Grand Rapids)

Name: Hanc Wealth Management, LLC
Address: 2910 Lucerne Drive Se, Grand Rapids, MI, 49546
Telephone: 616-302-1558

Hanc Wealth Management, LLC is a large advisory firm based in Grand Rapids. It manages $178.84 million of regulatory assets for 466 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdiction of Michigan.

Hanc Wealth Management provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, 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.

Hanc Wealth Management: assets under management

The assets under management (AUM) of Hanc Wealth Management, LLC is $178.84 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 22% since the beginning of its operation, and $99.5 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $178.84 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $383.77 thousand each.

Investments

The firm invests in investment grade corporate bonds the most. They account for 36% of the total AUM. The second-largest asset type is investment and business development companies, which make up 33% of the firm’s portfolio. Investments in exchange traded securities form 25% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Hanc Wealth Management, LLC for their services and products based on a percentage of assets under management and hourly charges. 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 Hanc Wealth Management 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 Hanc Wealth Management is high net worth individuals with 21 clients and $134.92 million of assets under management. Among the 9 most similar advisory firms, Hanc Wealth Management has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $178.84 million for 212 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.

Hanc Wealth Management doesn't advise any private funds.

Careers at Hanc Wealth Management, LLC

The company employs 2 people that are either part- or full-time employees. 100 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 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
Thomas Joseph Price	Managing member/cco	1 Nov 2015	50% - 75%	2439559
Aldrin Nichols & Carter P.C. Hungerford	Member	1 Nov 2015	50% - 75%	38-2184825

Based in Grand Rapids

The principal office where Hanc Wealth Management, LLC performs its advisory services is located at 2910 Lucerne Drive Se, Grand Rapids, MI 49546, 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 616-302-1558 or by fax 616-949-7720. The normal business hours are 9:00 - 5:00 on Monday - Friday. You can find more information about the New York firm at linkedin.com/company/hungerford-financial/.