Wealth Covenant Group LLC (Houston)

Name: Wealth Covenant Group LLC
Address: 7904 N. Sam Houston Pkwy W., Suite 310, Houston, TX, 77064
Telephone: (281) 640-8100

Wealth Covenant Group LLC is a large advisory firm based in Houston. It manages $154.65 million of regulatory assets for 312 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Louisiana and Texas.

Wealth Covenant Group 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.

Wealth Covenant Group: assets under management

The assets under management (AUM) of Wealth Covenant Group LLC is $154.65 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 10% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $154.65 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $495.66 thousand each.

Wealth Covenant Group has custody of $152.59 million in cash and securities for 74 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 44% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 35% of the firm’s portfolio. Investments in exchange traded securities form 18% of the total invested assets.

Fees & Commissions

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

The firm provides services to individuals and high net worth individuals. The largest group of clients of Wealth Covenant Group is high net worth individuals with 43 clients and $144.73 million of assets under management. Among the 9 most similar advisory firms, Wealth Covenant Group has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $154.65 million for 84 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.

Wealth Covenant Group doesn't advise any private funds.

Careers at Wealth Covenant Group LLC

The company employs 5 people that are either part- or full-time employees. 40 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 receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Dennis Wayne Stavinoha	Managing member & chief compliance officer	1 Jan 2018	75% - 100%	2802275

Based in Houston

The principal office where Wealth Covenant Group LLC performs its advisory services is located at 7904 N. Sam Houston Pkwy W., Suite 310, Houston, TX 77064, 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 (281) 640-8100. The normal business hours are by appointment on Monday - Friday. You can find more information about the New York firm at wealthcovenantgroup.com.