Ml & R Wealth Management LLC (Austin)


Ml & R Wealth Management LLC is a large advisory firm based in Austin. It manages $905.12 million of regulatory assets for 1,498 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Florida, and Texas.

Ml & R Wealth Management provides portfolio management for individuals and small businesses, 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.

Ml & R Wealth Management: assets under management

The assets under management (AUM) of Ml & R Wealth Management LLC is $905.12 million. The firm's AUM has grown by 1410% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $897.83 million in discretionary accounts and $7.29 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $606.64 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $405.06 thousand.
Ml & R Wealth Management has custody of $179.34 million in cash and securities for 160 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 61% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 18% of the firm’s portfolio. Investments in state and local bonds form 15% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Ml & R Wealth Management LLC 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 Steven Wayne Knebel serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Steven Wayne Knebel is high net worth individuals with 271 clients and $793.96 million of assets under management. Among the 5 most similar advisory firms, Ml & R Wealth Management has the 2nd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $904.45 million for 485 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.

Ml & R Wealth Management doesn't advise any private funds.

Careers at Ml & R Wealth Management LLC

The company employs 13 people that are either part- or full-time employees. 46 percent of the employees work as investment advisers or researchers. 11 employees are registered as investment adviser representatives with the state securities authorities.

There are 4 people 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.

Steven Wayne Knebel has been acting as President since 1 Jun 2000. Sarah Christine Wasaff joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Maxwell Locke & Ritter Llp Owner 1 Jan 1999 75% - 100% 74-2900215
Steven Wayne Knebel President 1 Jun 2000 Other 4380421
Robert Earl Maxwell President 1 Jun 2000 Other 2891421
Tommy Ray Locke Vice pres/secretary 1 Jun 2000 Other 2906455
Mark Thomas Ritter Vice pres./treasurer 1 Jun 2000 Other 2896902
August Justin Zimmerhanzel Treasurer 1 Jan 2002 Other 5061190
Steven Lee Harvey Secretary 1 Jan 2002 Other 2891378
Alfred Francis Frey Chief compliance officer 1 Oct 2004 Other 2891380
Dale Cox Vice president 1 Jan 2008 Other 5510079
Stuart Vick Smith Chief compliance officer 1 Aug 2010 Other 4897500
Steven Lee Harvey Treasurer 1 Sep 2016 Other 2891378
Stuart Vick Smith Chief compliance officer/ secretary 1 Sep 2016 Other 4897500
Sarah Christine Wasaff Chief compliance officer 1 Jul 2017 Other 6697838

Indirect Owners

The SEC currently registers 4 indirect owners.

Name Entity Date acquired Ownership Employer ID
Steven Wayne Knebel Partner/president 1 Jan 1999 25% - 50% 4380421
Robert Earl Maxwell Partner/president 1 Jan 1999 50% - 75% 2891421
Mark Thomas Ritter Partner/vice president 1 Jan 1999 25% - 50% 2896902
Tommy Ray Locke Partner/vice president 1 Jan 1999 25% - 50% 2906455

Based in Austin

The principal office where Ml & R Wealth Management LLC performs its advisory services is located at 401 Congress Avenue, Austin, TX 78701, which is also the mailing address of the firm. An additional office of the firm is in Round Rock, TX. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 512-275-2700 or by fax 512-370-3250. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at mlrwm.com.