Biltmore Wealth Management, LLC (Scottsdale)

Name: Biltmore Wealth Management, LLC
Address: 6720 N. Scottsdale Road, Scottsdale, AZ, 85253
Telephone: 480-998-1819

Biltmore Wealth Management, LLC is a large advisory firm based in Scottsdale. It manages $198.7 million of regulatory assets for 502 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of Arizona, California, Colorado, and 10 other states.

Biltmore Wealth Management provides portfolio management for individuals and small businesses and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Biltmore Wealth Management: assets under management

The assets under management (AUM) of Biltmore Wealth Management, LLC is $198.7 million. The firm's AUM has grown by 178% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $196.6 million in discretionary accounts and $2.1 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $396.37 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $350 thousand.

Biltmore Wealth Management has custody of $128 million in cash and securities for 211 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 81% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 8% of the firm’s portfolio. Investments in government bonds form 8% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Biltmore Wealth Management, LLC for their services and products based on a percentage of assets under management. 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 Biltmore Wealth Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Biltmore Wealth Management is high net worth individuals with 55 clients and $140.9 million of assets under management. Among the 11 most similar advisory firms, Biltmore Wealth Management has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $194.72 million for 314 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.

Biltmore Wealth Management doesn't advise any private funds.

Careers at Biltmore Wealth Management, LLC

The company employs 3 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 3 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
Kevin John Sweeney	Chief compliance officer/member	1 Jan 2010	25% - 50%	3256045
Timothy Alan Carpenter	Managing member	1 Jan 2010	50% - 75%	1263145
Pamela Dawn Houser	Chief compliance officer	1 Jan 2010	Other	2851786

Based in Scottsdale

The principal office where Biltmore Wealth Management, LLC performs its advisory services is located at 6720 N. Scottsdale Road, Scottsdale, AZ 85253, 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 480-998-1819 or by fax 480-948-3839. The normal business hours are 8:00am -- 5:00pm on Monday - Friday. You can find more information about the New York firm at biltmorewealthaz.com.