Heartwood Wealth Advisors, LLC (Richmond)

Name: Heartwood Wealth Advisors, LLC
Address: 9020 Stony Point Parkway, Richmond, VA, 23235
Telephone: 804-269-8711

Heartwood Wealth Advisors, LLC is a large advisory firm based in Richmond. It manages $659.43 million of regulatory assets for 1,154 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of Florida, Louisiana, Massachusetts, and 5 other states.

Heartwood Wealth Advisors 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.

Heartwood Wealth Advisors: assets under management

The assets under management (AUM) of Heartwood Wealth Advisors, LLC is $659.43 million. The firm's AUM has grown by 0% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $591.73 million in discretionary accounts and $67.7 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $678.59 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $240.06 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 79% of the total AUM. The second-largest asset type is investment and business development companies, which make up 16% of the firm’s portfolio. Investments in cash and cash equivalents form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Heartwood Wealth Advisors, LLC for their services and products based on a percentage of assets under management and hourly charges. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Benjamin Fowler Gurley serves?

The firm provides services to high net worth individuals and pension and profit sharing plans. The largest group of clients of Benjamin Fowler Gurley is high net worth individuals with 525 clients and $602.43 million of assets under management. Among the 5 most similar advisory firms, Heartwood Wealth Advisors has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $659.43 million for 527 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.

Heartwood Wealth Advisors doesn't advise any private funds.

Careers at Heartwood Wealth Advisors, LLC

The company employs 9 people that are either part- or full-time employees. 89 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.

Benjamin Fowler Gurley has been acting as President since 1 Jan 2019. Edwin Sidney Martin joined the executive team most recently as the Managing Director.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Edwin Sidney Martin	Managing director	1 Jan 2019	Other	2867302
Wesley Brent Kaufman	Managing director	1 Jan 2019	Other	2564193
Stephen Timothy Clarke	Managing director	1 Jan 2019	Other	2701620
Anita Keyser Bost	Chief compliance officer	1 Jan 2019	Other	1810602
Benjamin Fowler Gurley	Director	1 Jan 2019	Other	6531042
E. Sidney Martin Llc	Owner	1 Jan 2019	25% - 50%	46-2054300
Stephen T. Clarke Llc	Owner	1 Jan 2019	25% - 50%	46-2054203
Wesley B. Kaufman Llc	Owner	1 Jan 2019	25% - 50%	46-2053988

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Edwin Sidney Martin	Owner	1 Jan 2013	75% - 100%	2867302
Wesley Brent Kaufman	Owner	1 Jan 2013	75% - 100%	2564193
Stephen Timothy Clarke	Owner	1 Jan 2013	75% - 100%	2701620

Based in Richmond

The principal office where Heartwood Wealth Advisors, LLC performs its advisory services is located at 9020 Stony Point Parkway, Richmond, VA 23235, 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 804-269-8711. The normal business hours are 8:00am- 5:00pm on Monday - Friday. You can find more information about the New York firm at heartwoodva.com.