Spire Wealth Management, LLC (Reston)

Name: Spire Wealth Management, LLC
Address: 1840 Michael Faraday Dr., Reston, VA, 20190
Telephone: 703-657-6060

Spire Wealth Management, LLC is a large advisory firm based in Reston. It manages $3.16 billion of regulatory assets for 10,330 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states.

Spire Wealth Management provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and insurance, retirement & estate planning, divorce planning. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Spire Wealth Management: assets under management

The assets under management (AUM) of Spire Wealth Management, LLC is $3.16 billion. The firm's AUM has grown by 383% since the beginning of its operation, and $1.8 million of the total AUM is attributable to clients outside of the United States.

The firm manages $2.74 billion in discretionary accounts and $413.49 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $297.45 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $373.18 thousand.

Spire Wealth Management has custody of $136.05 million in cash and securities for 384 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 48% of the total AUM. The second-largest asset type is investment and business development companies, which make up 34% of the firm’s portfolio. Investments in state and local bonds form 11% of the total invested assets.

Fees & Commissions

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

The firm provides services to individuals and high net worth individuals. The largest group of clients of Spire Wealth Management is individuals with 3,829 clients and $2.31 billion of assets under management. Among the 6 most similar advisory firms, Spire Wealth Management has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $3.16 billion for 4,453 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.

Spire Wealth Management doesn't advise any private funds.

Careers at Spire Wealth Management, LLC

The company employs 122 people that are either part- or full-time employees. 57 percent of the employees work as investment advisers or researchers. 87 employees are registered as investment adviser representatives with the state securities authorities.

There are 3 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Lawrence John Gaffey	Ceo	1 Feb 1997	Other	1213272
David Lloyd Blisk	Principal	1 Feb 1997	Other	2155652
Phillip Frederick Fournier	V. president	1 Feb 1997	Other	2252484
Suzanne Marie Mckeown	Chief compliance officer	1 Jul 2003	Other	1814114
Suzanne Marie Mckeown	V. pres. & chief compliance officer	1 Oct 2004	Other	1814114
Steven Curtis Donald	Vp - vendor relations	1 Aug 2007	Other	869143
Llc Spire Investment Partners	Parent	1 Aug 2007	75% - 100%	26-0645178
Llc Spire Investment Partners	Parent firm	1 Oct 2007	75% - 100%	260774721
Paul T Murphy	Cmo	1 Mar 2010	Other	2223071
Stuart Edward Brawley	Vp - finance	1 Mar 2010	Other	2423760
Phillip Frederick Fournier	Chief administrative officer	1 Mar 2010	Other	2252484
Christopher Keith Wilkinson	Vp - business development	1 Oct 2011	Other	2749952
Kevin Alfred Ramos	V.p. director of operations	1 Sep 2012	Other	3146845
Timothy Andrew O'leary	Director of operations	1 Oct 2014	Other	1414269
William Chao	Vp - operations	1 Dec 2016	Other	2998659
Robert Michael Lord	Coo	1 Mar 2017	Other	6773236
Joshua Joseph Bright	Director of finance	1 Apr 2018	Other	6180890
Allen Charles Eickelberg	Director of operations	1 Mar 2019	Other	5973819

Indirect Owners

The SEC currently registers 6 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Lawrence John Gaffey	Member	1 Jul 2007	50% - 75%	1213272
David Lloyd Blisk	Member	1 Jul 2007	50% - 75%	2155652
David Lloyd Blisk	Principal	1 Oct 2007	50% - 75%	2155652
Lawrence John Gaffey	Principal	1 Oct 2007	50% - 75%	1213272
David Lloyd Blisk	Managing member	1 Mar 2010	75% - 100%	2155652
Lm Securities Llc	Member	1 May 2017	Other	82-1678401

Based in Reston

The principal office where Spire Wealth Management, LLC performs its advisory services is located at 1840 Michael Faraday Dr., Reston, VA 20190, which is also the mailing address of the firm. An additional office of the firm is in Pittsburgh, PA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 703-657-6060 or by fax 703-748-1372. The normal business hours are 8:30am - 5:30pm on Monday - Friday. You can find more information about the New York firm at spireip.com.