Stony Point Wealth Management Inc. (Richmond)

Name: Stony Point Wealth Management Inc.
Address: 9020 Stony Point Parkway, Richmond, VA, 23235
Telephone: (804) 332-6574

Stony Point Wealth Management Inc. is a large advisory firm based in Richmond. It manages $238 million of regulatory assets for 1,180 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Florida, Maryland, North Carolina, and 5 other states.

Stony Point Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and pension consulting services. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Stony Point Wealth Management: assets under management

The assets under management (AUM) of Stony Point Wealth Management Inc. is $238 million. The firm's AUM has grown by 85% since the beginning of its operation, and $411.05 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $226.97 million in discretionary accounts and $11.03 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $197.71 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $344.76 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 53% of the total AUM. The second-largest asset type is investment and business development companies, which make up 33% of the firm’s portfolio. Investments in other assets form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Stony Point Wealth Management Inc. 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 Stony Point Wealth Management serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Stony Point Wealth Management is high net worth individuals with 70 clients and $116.34 million of assets under management. Among the 7 most similar advisory firms, Stony Point Wealth Management has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $238 million for 399 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.

Stony Point Wealth Management doesn't advise any private funds.

Careers at Stony Point Wealth Management Inc.

The company employs 6 people that are either part- or full-time employees. 83 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
Elizabeth Ann King	Principal	1 Nov 2014	50% - 75%	4674939
Matthew Clayton Daniel	Principal/cco	1 Jul 2015	25% - 50%	5352214
Stuart Evans Daniel	Principal	1 Jul 2015	Other	1937306
Elizabeth Ann King	Principal	1 Aug 2016	50% - 75%	4674939

Based in Richmond

The principal office where Stony Point Wealth Management Inc. 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) 332-6574. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at stonypointwealth.com/.