Wealthcrest Financial Services, LLC (Springfield)

Name: Wealthcrest Financial Services, LLC
Address: 7880 Backlick Road, Springfield, VA, 22150
Telephone: 703-372-1717

Wealthcrest Financial Services, LLC is a large advisory firm based in Springfield. It manages $177.63 million of regulatory assets for 700 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of District of Columbia, Florida, Maryland, and 3 other states.

Wealthcrest Financial Services provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and publication of newsletters. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Wealthcrest Financial Services: assets under management

The assets under management (AUM) of Wealthcrest Financial Services, LLC is $177.63 million. The firm's AUM has grown by 40% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $174.47 million in discretionary accounts and $3.16 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $250.32 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.05 million.

Investments

The firm invests in exchange traded securities the most. They account for 50% of the total AUM. The second-largest asset type is government bonds, which make up 15% of the firm’s portfolio. Investments in investment grade corporate bonds form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Wealthcrest Financial Services, LLC for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and commissions. Commissions are paid and earned by the adviser when a trade or a sales of an investment is made. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Wealthcrest Financial Services serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Wealthcrest Financial Services is high net worth individuals with 250 clients and $108.57 million of assets under management. Among the 5 most similar advisory firms, Wealthcrest Financial Services has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $177.63 million for 700 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.

Wealthcrest Financial Services doesn't advise any private funds.

Careers at Wealthcrest Financial Services, LLC

The company employs 5 people that are either part- or full-time employees. 80 percent of the employees work as investment advisers or researchers. 4 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
Patrick Bryan Beagle	Owner, cco	1 Dec 2003	75% - 100%	2293557

Based in Springfield

The principal office where Wealthcrest Financial Services, LLC performs its advisory services is located at 7880 Backlick Road, Springfield, VA 22150, 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 703-372-1717 or by fax 703-372-1701. The normal business hours are 9am - 5pm on Monday - Friday. You can find more information about the New York firm at wealthcrest.com.