Wallace Advisory Group, LLC (Lafayette)

Wallace Advisory Group, LLC is a large advisory firm based in Lafayette. It manages $142.76 million of regulatory assets for 288 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of California, Hawaii, Nevada, Texas, and Washington.

Wallace Advisory Group 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.

Wallace Advisory Group: assets under management

The assets under management (AUM) of Wallace Advisory Group, LLC is $142.76 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 53% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $142.76 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $495.69 thousand each.

Wallace Advisory Group has custody of $67.04 million in cash and securities for 144 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 63% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 20% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Wallace Advisory Group, LLC for their services and products based on a percentage of assets under management 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 Wallace Advisory Group serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Wallace Advisory Group is high net worth individuals with 32 clients and $117.43 million of assets under management. Among the 10 most similar advisory firms, Wallace Advisory Group has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $142.76 million for 114 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.

Wallace Advisory Group doesn't advise any private funds.

Careers at Wallace Advisory Group, LLC

The company employs 5 people that are either part- or full-time employees. 40 percent of the employees work as investment advisers or researchers. 2 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
Joseph William Wallace	Managing member	1 Oct 2015	50% - 75%	6137314
Craig Wallace	Managing member & chief compliance officer	1 Oct 2015	50% - 75%	6544878

Based in Lafayette

The principal office where Wallace Advisory Group, LLC performs its advisory services is located at 3658 Mount Diablo Boulevard, Lafayette, CA 94549, 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 925-284-6880. The normal business hours are by appointment on Monday - Friday.