Hurlow Wealth Management Group, Inc. (Bloomington)

Name: Hurlow Wealth Management Group, Inc.
Address: 3925 Hagan St., Bloomington, IN, 47401
Telephone: (812) 333-4726

Hurlow Wealth Management Group, Inc. is a large advisory firm based in Bloomington. It manages $268.87 million of regulatory assets for 1,088 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Arizona, California, Hawaii, and 4 other states.

Hurlow Wealth Management Group provides financial planning services, portfolio management for individuals and small businesses, 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.

Hurlow Wealth Management Group: assets under management

The assets under management (AUM) of Hurlow Wealth Management Group, Inc. is $268.87 million. The firm's AUM has grown by 37% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $220.39 million in discretionary accounts and $48.48 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $207.91 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.73 million.

Hurlow Wealth Management Group has custody of $110.65 million in cash and securities for 287 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 60% of the total AUM. The second-largest asset type is exchange traded securities, which make up 36% of the firm’s portfolio. Investments in cash and cash equivalents form 2% of the total invested assets.

Fees & Commissions

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

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Hurlow Wealth Management Group is high net worth individuals with 65 clients and $161.04 million of assets under management. Among the 13 most similar advisory firms, Hurlow Wealth Management Group has the 6th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $267.9 million for 463 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.

Hurlow Wealth Management Group doesn't advise any private funds.

Careers at Hurlow Wealth Management Group, Inc.

The company employs 7 people that are either part- or full-time employees. 57 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 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
John Charles Hurlow	Chief executive officer and chief compliance officer	1 Apr 2016	75% - 100%	2882302
Michael J Carson	Vice president	1 Apr 2016	Other	5543715
John Charles Hurlow	Chief executive officer and chief compliance officer	1 May 2016	75% - 100%	2882302
Michael John Carson	Vice president	1 May 2016	Other	5543715
Michael J Carson	Vice president	1 May 2016	Other	5543715

Based in Bloomington

The principal office where Hurlow Wealth Management Group, Inc. performs its advisory services is located at 3925 Hagan St., Bloomington, IN 47401, which is also the mailing address of the firm. An additional office of the firm is in Indianapolis, IN. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (812) 333-4726 or by fax (812) 333-8126. The normal business hours are 8:30am - 5:00pm on Monday - Friday. You can find more information about the New York firm at jhurlow.com and its LinkedIn profile.