Westlake Wealth Management, LLC (Roanoke)

Westlake Wealth Management, LLC is an adviser based in Roanoke. It manages $15.96 million of regulatory assets for 146 client accounts. It has been registered with the SEC as an adviser since 2018.

Westlake 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.

Westlake Wealth Management: assets under management

The assets under management (AUM) of Westlake Wealth Management, LLC is $15.96 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 9% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $15.96 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $109.3 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 44% of the total AUM. The second-largest asset type is exchange traded securities, which make up 44% of the firm’s portfolio. Investments in cash and cash equivalents form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Westlake Wealth Management, 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 Westlake Wealth Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Westlake Wealth Management is individuals with 65 clients and $12.12 million of assets under management. Among the 2 most similar advisory firms, Westlake Wealth Management has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $15.96 million for 69 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.

Westlake Wealth Management doesn't advise any private funds.

Careers at Westlake Wealth Management, LLC

The company employs 4 people that are either part- or full-time employees. 25 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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
Michael Dean Fessler	Managing member & chief compliance officer	1 May 2018	50% - 75%	6218319
Jr Matthews	Managing member	1 May 2018	50% - 75%	6934661
James Matthews	Managing member & chief executive officer	1 May 2018	50% - 75%	6934661

Based in Roanoke

The principal office where Westlake Wealth Management, LLC performs its advisory services is located at 310 S. Oak Street, Suite 208, Roanoke, TX 76262, 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 6828886144. The normal business hours are 8am - 4pm on Monday - Friday.