Fonville Wealth Management LLC (Williamsburg)

Name: Fonville Wealth Management LLC
Address: 351 Mclaws Circle, Williamsburg, VA, 23185
Telephone: (757) 259-0111

Fonville Wealth Management LLC is a large advisory firm based in Williamsburg. It manages $173.74 million of regulatory assets for 692 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of California, New Hampshire, Texas, and Virginia.

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

Fonville Wealth Management: assets under management

The assets under management (AUM) of Fonville Wealth Management LLC is $173.74 million. The firm's AUM has grown by 0% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $149.6 million in discretionary accounts and $24.14 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $243.25 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $313.52 thousand.

Fonville Wealth Management has custody of $3.82 million in cash and securities for 10 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 50% of the total AUM. The second-largest asset type is exchange traded securities, which make up 25% of the firm’s portfolio. Investments in cash and cash equivalents form 25% of the total invested assets.

Fees & Commissions

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

The firm provides services to individuals and high net worth individuals. The largest group of clients of Fonville Wealth Management is high net worth individuals with 55 clients and $122.6 million of assets under management. Among the 6 most similar advisory firms, Fonville Wealth Management has the 3rd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $173.74 million for 154 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.

Fonville Wealth Management doesn't advise any private funds.

Careers at Fonville Wealth Management LLC

The company employs 5 people that are either part- or full-time employees. 80 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 compensates 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
Katherine Shelton Fonville	Vice president	1 Apr 2018	75% - 100%	4802005
Mark Rudd Fonville	President & chief compliance officer	1 Apr 2018	Other	4475793

Based in Williamsburg

The principal office where Fonville Wealth Management LLC performs its advisory services is located at 351 Mclaws Circle, Williamsburg, VA 23185, which is also the mailing address of the firm. An additional office of the firm is in Glen Allen, VA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (757) 259-0111. The normal business hours are by appointment only on Other. You can find more information about the New York firm at mycwa.com and its LinkedIn profile.