Raffa Wealth Management LLC (Washington)

Name: Raffa Wealth Management LLC
Address: 2020 K St., Washington, DC, 20006
Telephone: 202-955-6734

Raffa Wealth Management LLC is a large advisory firm based in Washington. It manages $678.46 million of regulatory assets for 342 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of District of Columbia, Maryland, and Virginia.

Raffa Wealth Management provides portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and retirement income planning. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Raffa Wealth Management: assets under management

The assets under management (AUM) of Raffa Wealth Management LLC is $678.46 million. The firm's AUM has grown by 338% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $646.38 million in discretionary accounts and $32.07 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.01 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.6 million.

Raffa Wealth Management has custody of $7.78 million in cash and securities for 2 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 88% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 4% of the firm’s portfolio. Investments in investment grade corporate bonds form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Raffa Wealth Management LLC for their services and products based on a percentage of assets under management and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Raffa Wealth Management 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 Raffa Wealth Management is charitable organizations with 71 clients and $468.28 million of assets under management. Among the 5 most similar advisory firms, Raffa Wealth Management has the highest percentage of charitable organizations out of all clients.

The amount of regulatory assets under management is $678.46 million for 124 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.

Raffa Wealth Management doesn't advise any private funds.

Careers at Raffa Wealth Management LLC

The company employs 7 people that are either part- or full-time employees. 71 percent of the employees work as investment advisers or researchers. 5 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

Name	Entity	Date acquired	Ownership	Employer ID
Dennis Patrick Gogarty	Managing member	1 Jul 2005	25% - 50%	4592955
Thomas J. Raffa	Member	1 Jul 2005	25% - 50%	5030451
Steven Kenneth Heger	Member	1 Dec 2006	25% - 50%	1038392

Based in Washington

The principal office where Raffa Wealth Management LLC performs its advisory services is located at 2020 K St., Washington, DC 20006, which is also the mailing address of the firm. An additional office of the firm is in Rockville, MD. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 202-955-6734 or by fax 202-318-5926. The normal business hours are 8:00 am - 6:00 pm on Monday - Friday. You can find more information about the New York firm at raffawealth.com.