Cornerstone Wealth Strategies, Inc. (Kennewick)

Name: Cornerstone Wealth Strategies, Inc.
Address: 8905 W. Gage Blvd.,, Kennewick, WA, 99336
Telephone: 509-396-0588

Cornerstone Wealth Strategies, Inc. is a large advisory firm based in Kennewick. It manages $413.58 million of regulatory assets for 1,682 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Hawaii, Idaho, Oregon, and 3 other states.

Cornerstone Wealth Strategies provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and educational seminars and workshops. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Cornerstone Wealth Strategies: assets under management

The assets under management (AUM) of Cornerstone Wealth Strategies, Inc. is $413.58 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -5% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $413.58 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $245.89 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 92% of the total AUM. The second-largest asset type is exchange traded securities, which make up 5% of the firm’s portfolio. Investments in cash and cash equivalents form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Cornerstone Wealth Strategies, Inc. 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 Matthew Henry Riesenweber serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Matthew Henry Riesenweber is high net worth individuals with 130 clients and $222.22 million of assets under management. Among the 11 most similar advisory firms, Cornerstone Wealth Strategies has the 5th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $413.58 million for 697 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.

Cornerstone Wealth Strategies doesn't advise any private funds.

Careers at Cornerstone Wealth Strategies, Inc.

The company employs 8 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. 3 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Matthew Henry Riesenweber has been acting as President since 1 Jul 2015. Beau James Ruff joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Matthew Henry Riesenweber	President	1 Jul 2015	75% - 100%	4625637
Winette Gwen Riesenweber	Vice president	1 Jul 2015	Other	5096870
Matthew David Wiser	Vice president	1 Jul 2015	Other	5383242
Beau James Ruff	Chief compliance officer	1 Jun 2018	Other	6601976

Based in Kennewick

The principal office where Cornerstone Wealth Strategies, Inc. performs its advisory services is located at 8905 W. Gage Blvd.,, Kennewick, WA 99336, 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 509-396-0588 or by fax 888-474-6520. The normal business hours are 8 am - 5 pm on Monday - Friday. You can find more information about the New York firm at facebook.com/cswstrategies.