Dopkins Wealth Management, LLC (Williamsville)

Dopkins Wealth Management, LLC is a large advisory firm based in Williamsville. It manages $513.35 million of regulatory assets for 699 client accounts. It has been registered with the SEC as an adviser since 2003 and has operated in the jurisdictions of Florida, New York, and Pennsylvania.

Dopkins Wealth Management provides portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, 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.

Dopkins Wealth Management: assets under management

The assets under management (AUM) of Dopkins Wealth Management, LLC is $513.35 million. The firm's AUM has grown by 1815% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $506.76 million in discretionary accounts and $6.59 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $733.37 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $823.67 thousand.

Dopkins Wealth Management has custody of $57.43 million in cash and securities for 17 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 63% of the total AUM. The second-largest asset type is state and local bonds, which make up 23% of the firm’s portfolio. Investments in cash and cash equivalents form 12% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Dopkins Wealth Management, LLC for their services and products based on a percentage of assets under management 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 Dopkins 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 Dopkins Wealth Management is high net worth individuals with 91 clients and $435.05 million of assets under management. Among the 10 most similar advisory firms, Dopkins Wealth Management has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $513.35 million for 337 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.

Dopkins Wealth Management doesn't advise any private funds.

Careers at Dopkins Wealth Management, LLC

The company employs 11 people that are either part- or full-time employees. 45 percent of the employees work as investment advisers or researchers. No 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

Based in Williamsville

The principal office where Dopkins Wealth Management, LLC performs its advisory services is located at 200 International Drive, Williamsville, NY 14221, 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 716-634-8800 or by fax 716-634-8987. The normal business hours are 8:30 am - 5:30 pm on Monday - Friday. You can find more information about the New York firm at dopkinswealthmanagement.com and its LinkedIn profile.

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