Pbmares Wealth Management LLC (Williamsburg)

Name: Pbmares Wealth Management LLC
Address: 434 Mclaws Circle, Williamsburg, VA, 23185
Telephone: 757.229.7180

Pbmares Wealth Management LLC is a large advisory firm based in Williamsburg. It manages $538.5 million of regulatory assets for 1,691 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of California, Florida, Georgia, and 6 other states.

Pbmares Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and consulting. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Pbmares Wealth Management: assets under management

The assets under management (AUM) of Pbmares Wealth Management LLC is $538.5 million. The firm's AUM has grown by 89% since the beginning of its operation, and $53.97 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $534.01 million in discretionary accounts and $4.49 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $316.73 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $898.95 thousand.

Pbmares Wealth Management has custody of $132.22 million in cash and securities for 353 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 63% of the total AUM. The second-largest asset type is government bonds, which make up 23% of the firm’s portfolio. Investments in state and local bonds form 9% of the total invested assets.

Fees & Commissions

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

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Pbmares Wealth Management is high net worth individuals with 160 clients and $375.97 million of assets under management. Among the 8 most similar advisory firms, Pbmares Wealth Management has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $536.74 million for 678 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.

Pbmares Wealth Management doesn't advise any private funds.

Careers at Pbmares Wealth Management LLC

The company employs 11 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 11 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
David Eugene Bush	Managing director	1 Oct 2000	Other	4475778
Daniel Joseph Bender	Managing director	1 Jan 2013	Other	4583683
Llp Pbmares	Member	1 Jan 2013	75% - 100%	54-0737372
Robert Lewis Klingensmith	Chief compliance officer	1 Jan 2017	Other	4228962

Based in Williamsburg

The principal office where Pbmares Wealth Management LLC performs its advisory services is located at 434 Mclaws Circle, Williamsburg, VA 23185, which is also the mailing address of the firm. An additional office of the firm is in Fredericksburg, VA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 757.229.7180 or by fax 757.229.5452. The normal business hours are 8:30 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at pbmareswealth.com.