True Private Wealth Advisors, LLC (Salem)

Name: True Private Wealth Advisors, LLC
Address: 388 State Street, Salem, OR, 97301
Telephone: 503-400-3311

True Private Wealth Advisors, LLC is a large advisory firm based in Salem. It manages $935.96 million of regulatory assets for 3,480 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of Arizona, California, Colorado, and 8 other states.

True Private 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.

True Private Wealth Advisors: assets under management

The assets under management (AUM) of True Private Wealth Advisors, LLC is $935.96 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 307% since the beginning of its operation, and $210.96 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $935.96 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $268.95 thousand each.

True Private Wealth Advisors has custody of $528.87 million in cash and securities for 481 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 68% of the total AUM. The second-largest asset type is exchange traded securities, which make up 16% of the firm’s portfolio. Investments in cash and cash equivalents form 9% of the total invested assets.

Fees & Commissions

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

The firm provides services to individuals, charitable organizations, high net worth individuals, and pension and profit sharing plans. The largest group of clients of True Private Wealth Advisors is high net worth individuals with 356 clients and $709.81 million of assets under management. Among the 10 most similar advisory firms, True Private Wealth Advisors has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $935.96 million for 1,449 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.

True Private Wealth Advisors doesn't advise any private funds.

Careers at True Private Wealth Advisors, LLC

The company employs 20 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
Michael Brett Davis	Member	1 Aug 2012	25% - 50%	2289138
Todd Anthony Gescher	Member	1 Aug 2012	25% - 50%	2505578
Jason David Herber	Member	1 Aug 2012	25% - 50%	3238058
Steve Robert Altman	Member & chief compliance officer	1 Aug 2012	25% - 50%	2795104
Stephen Robert Altman	Chief compliance officer (cco), managing member	1 Aug 2012	Other	2795104
Llc The Gescher Herber Group	Member	1 Aug 2012	25% - 50%	46-4600604
Llc The Davis Altman Group	Member	1 Aug 2012	25% - 50%	46-4601172
Joseph Edward Opsahl	Member	1 Oct 2013	Other	1257252
Llc The Opsahl Group	Member	1 Oct 2013	Other	xxx-xx-xxxx
Dennis Patrick Harrold	Chief administrative officer (cao)	1 Jan 2018	Other	1178753

Based in Salem

The principal office where True Private Wealth Advisors, LLC performs its advisory services is located at 388 State Street, Salem, OR 97301, which is also the mailing address of the firm. An additional office of the firm is in Eugene, OR. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 503-400-3311 or by fax 503-400-3292. The normal business hours are 7:00 am - 4:00 pm on Monday - Friday. You can find more information about the New York firm at truepwa.com.