Moneywise Inc (Forest)

Name: Moneywise Inc
Address: 1563 Crossings Centre Drive, Forest, VA, 24551 4744
Telephone: 434-316-9356

Moneywise Inc is a large advisory firm based in Forest. It manages $245.1 million of regulatory assets for 1,421 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Delaware, Maine, North Carolina, Texas, and Virginia.

Moneywise provides financial planning services and portfolio management for individuals and small businesses. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Moneywise: assets under management

The assets under management (AUM) of Moneywise Inc is $245.1 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 472% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $245.1 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $172.48 thousand each.

Moneywise has custody of $245.1 million in cash and securities for 344 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 94% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 3% of the firm’s portfolio. Investments in other assets form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Moneywise Inc 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 Rick Allen Huff serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Rick Allen Huff is high net worth individuals with 95 clients and $137 million of assets under management. Among the 7 most similar advisory firms, Moneywise has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $245.1 million for 416 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.

Moneywise doesn't advise any private funds.

Careers at Moneywise Inc

The company employs 8 people that are either part- or full-time employees. 88 percent of the employees work as investment advisers or researchers. 7 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.

Rick Allen Huff has been acting as President since 1 Aug 1997. Justin Miles Victor joined the executive team most recently as the Vice President Of Planning.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Rick Allen Huff	President	1 Aug 1997	25% - 50%	2048291
Alexander James Stuart	Vice president	1 Aug 1997	50% - 75%	2173899
Brian Raymond Carlton	Vice president	1 Mar 2001	25% - 50%	2593909
Joel Erik Bengds	Vice president investments	1 Jul 2007	25% - 50%	5096901
Justin Miles Victor	Vice president of planning	1 Jul 2012	25% - 50%	4956987
Joseph Dixon Eskridge	Chief investment officer and chief compliance officer	1 Jul 2012	25% - 50%	6000429

Based in Forest

The principal office where Moneywise Inc performs its advisory services is located at 1563 Crossings Centre Drive, Forest, VA 24551 4744, 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 434-316-9356 or by fax 855-692-1471. The normal business hours are 9:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at hscwealthadvisors.com.