Rsm Us Wealth Management LLC (Minneapolis)

Name: Rsm Us Wealth Management LLC
Address: 801 Nicollet Mall, Minneapolis, MN, 55402 2526
Telephone: 612-332-4300

Rsm Us Wealth Management LLC is a large advisory firm based in Minneapolis. It manages $5.82 billion of regulatory assets for 12,521 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 47 other states.

Rsm Us Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and advisory services including investment review and reporting of non-managed assets and retirement plan services to plans. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Rsm Us Wealth Management: assets under management

The assets under management (AUM) of Rsm Us Wealth Management LLC is $5.82 billion. The firm's AUM has grown by 16% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $5.25 billion in discretionary accounts and $569.22 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $450.07 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $661.12 thousand.

Rsm Us Wealth Management has custody of $3.5 billion in cash and securities for 2,275 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 84% of the total AUM. The second-largest asset type is exchange traded securities, which make up 9% 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 Rsm Us Wealth Management LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Rsm Us Wealth Management serves?

The firm provides services to individuals, insurance companies, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Rsm Us Wealth Management is high net worth individuals with 1,859 clients and $5.08 billion of assets under management. Among the 9 most similar advisory firms, Rsm Us Wealth Management has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $5.82 billion for 3,717 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.

Rsm Us Wealth Management doesn't advise any private funds.

Careers at Rsm Us Wealth Management LLC

The company employs 125 people that are either part- or full-time employees. 74 percent of the employees work as investment advisers or researchers. 93 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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.

Keith Martin Lamoutte has served as the Chief Investment Officer since 1 Jun 2019. Gregory Scott Dowler joined the executive team most recently as the Chief Operating Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Dale Steven Phillips	Chief operations officer - wealth management	1 Mar 2008	Other	2080064
Rsm Us Llp	Member	1 Nov 2011	75% - 100%	42-0714325
Thomas Michael Kirley	Chief operations officer	1 Nov 2011	Other	4394294
Joseph M Adams	President and chief executive officer	1 Nov 2011	Other	5569051
Thomas Raymond Berry	Assistant treasurer	1 Nov 2011	Other	6011073
Douglas Wayne Opheim	Chief financial officer and treasurer	1 Nov 2011	Other	4510305
Amy Renee Priebe	Chief compliance officer - wealth management	1 Sep 2015	Other	5343051
William J Gorman	Chief operating officer	1 Nov 2015	Other	6688016
Craig Allen Sehmann	Assistant treasurer	1 Nov 2015	Other	6690448
Gregory Scott Dowler	Senior director - wealth management	1 Jul 2016	Other	1956623
David Raymond Scudder	Interim national director	1 Mar 2018	Other	6936887
Sue Ann Vang	Director of operations	1 May 2018	Other	5905070
Bruce James Jorth	Vice president	1 Jul 2018	Other	6992571
David Raymond Scudder	National director	1 Dec 2018	Other	6936887
Keith Martin Lamoutte	Chief investment officer	1 Jun 2019	Other	2268309
Maria Pisoni Daley	National head of advisors	1 Jun 2019	Other	1171271
Gregory Scott Dowler	Chief operating officer	1 Jul 2019	Other	1956623

Based in Minneapolis

The principal office where Rsm Us Wealth Management LLC performs its advisory services is located at 801 Nicollet Mall, Minneapolis, MN 55402 2526, which is also the mailing address of the firm. An additional office of the firm is in Davenport, IA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 612-332-4300 or by fax 612-395-7400. The normal business hours are 8:00am to 5:00pm on Monday - Friday. You can find more information about the New York firm at rsmus.com/what-we-do/services/wealth-management.html.