Riverstone Wealth Management LLC (Wexford)

Name: Riverstone Wealth Management LLC
Address: 2559 A Brandt School Rd, Wexford, PA, 15090
Telephone: (724) 719-6767

Riverstone Wealth Management LLC is a large advisory firm based in Wexford. It manages $115.93 million of regulatory assets for 440 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of New Hampshire and Pennsylvania.

Riverstone Wealth Management 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.

Riverstone Wealth Management: assets under management

The assets under management (AUM) of Riverstone Wealth Management LLC is $115.93 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 $115.68 million in discretionary accounts and $250 thousand in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $269.02 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $25 thousand.

Riverstone Wealth Management has custody of $13.5 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 75% of the total AUM. The second-largest asset type is exchange traded securities, which make up 9% of the firm’s portfolio. Investments in cash and cash equivalents form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Riverstone Wealth Management LLC for their services and products based on a percentage of assets under management, hourly charges, 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 Riverstone Wealth Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Riverstone Wealth Management is high net worth individuals with 42 clients and $74.3 million of assets under management. Among the 8 most similar advisory firms, Riverstone Wealth Management has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $115.93 million for 272 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.

Riverstone Wealth Management doesn't advise any private funds.

Careers at Riverstone Wealth Management LLC

The company employs 4 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 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
Wesley William Creese	Managing member	1 Jan 2008	75% - 100%	2967082
Josiah David Hoffman	Chief compliance officer	1 Mar 2017	Other	5572382

Based in Wexford

The principal office where Riverstone Wealth Management LLC performs its advisory services is located at 2559 A Brandt School Rd, Wexford, PA 15090, 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 (724) 719-6767 or by fax (412) 635-9976. The normal business hours are 9:00am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at riverstone.finance.