Hemming& Wealth Management, Inc. (Traverse City)

Name: Hemming& Wealth Management, Inc.
Address: 600 E. Front Street, Traverse City, MI, 49686
Telephone: (231) 922-2900

Hemming& Wealth Management, Inc. is a large advisory firm based in Traverse City. It manages $115.74 million of regulatory assets for 839 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdiction of Michigan.

Hemming& Wealth Management provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Hemming& Wealth Management: assets under management

The assets under management (AUM) of Hemming& Wealth Management, Inc. is $115.74 million, all of which is managed in discretionary accounts. The company doesn't manage any assets belonging to foreign clients.

The firm manages $115.74 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $137.95 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 61% of the total AUM. The second-largest asset type is exchange traded securities, which make up 34% of the firm’s portfolio. Investments in investment grade corporate bonds form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Hemming& Wealth Management, Inc. 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 Hemming& Wealth Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Hemming& Wealth Management is individuals with 816 clients and $79.35 million of assets under management. Among the 8 most similar advisory firms, Hemming& Wealth Management has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $115.74 million for 839 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.

Hemming& Wealth Management doesn't advise any private funds.

Careers at Hemming& Wealth Management, Inc.

The company employs 8 people that are either part- or full-time employees. 38 percent of the employees work as investment advisers or researchers. 3 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
Dawn Michelle Hemming	Founder, president and chief compliance officer	1 Feb 2019	75% - 100%	2243857
Autumn C Soltysiak	Vice president, financial advisor	1 Feb 2019	Other	4684987

Based in Traverse City

The principal office where Hemming& Wealth Management, Inc. performs its advisory services is located at 600 E. Front Street, Traverse City, MI 49686, 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 (231) 922-2900 or by fax (231) 922-2904. The normal business hours are by appointment on Monday - Friday. You can find more information about the New York firm at hemmingwm.com and its LinkedIn profile.