Acumen Wealth Advisors, LLC (Chattanooga)

Name: Acumen Wealth Advisors, LLC
Address: 250 Forest Avenue, Chattanooga, TN, 37405
Telephone: 423-825-4796

Acumen Wealth Advisors, LLC is a large advisory firm based in Chattanooga. It manages $184.54 million of regulatory assets for 137 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Alabama, Florida, Georgia, and 3 other states.

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

Acumen Wealth Advisors: assets under management

The assets under management (AUM) of Acumen Wealth Advisors, LLC is $184.54 million. The firm's AUM has grown by 80% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $153.31 million in discretionary accounts and $31.23 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.23 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.6 million.

Acumen Wealth Advisors has custody of $31.45 million in cash and securities for 53 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 72% of the total AUM. The second-largest asset type is state and local bonds, which make up 18% of the firm’s portfolio. Investments in investment grade corporate bonds form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Acumen Wealth Advisors, 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 Acumen Wealth Advisors serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Acumen Wealth Advisors is high net worth individuals with 69 clients and $128.23 million of assets under management. Among the 8 most similar advisory firms, Acumen Wealth Advisors has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $170.94 million for 135 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.

Acumen Wealth Advisors doesn't advise any private funds.

Careers at Acumen Wealth Advisors, LLC

The company employs 10 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. 4 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
John Michael Owen	Managing member	1 Jan 2012	50% - 75%	5808764
Marinus Stephen Veltenaar	Managing member	1 Jan 2012	50% - 75%	4608188
John M Owen	Vice president & secretary	1 Jan 2012	50% - 75%	5808764
Amy Renee Stone	Chief compliance officer	1 Jan 2016	Other	5398637
Thomas Richard Blewett	Minority partner	1 Jan 2018	Other	1830934
Cheryl F Tynan	Minority partner	1 Jan 2018	Other	6438774
Beth Ann Tremaine	Minority partner	1 Jan 2018	Other	2906742
Rosalind Veltenaar	Minority partner	1 Jan 2018	Other	6909764

Based in Chattanooga

The principal office where Acumen Wealth Advisors, LLC performs its advisory services is located at 250 Forest Avenue, Chattanooga, TN 37405, 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 423-825-4796. The normal business hours are 8:30 - 5:00 on Monday - Friday. You can find more information about the New York firm at acumenwealth.com.