Scissortail Wealth Management, LLC (Tulsa)

Name: Scissortail Wealth Management, LLC
Address: 1203 East 33 Rd Street, Tulsa, OK, 74105
Telephone: (918) 956-0500

Scissortail Wealth Management, LLC is a large advisory firm based in Tulsa. It manages $134.76 million of regulatory assets for 645 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of California, Colorado, Florida, and 7 other states.

Scissortail Wealth Management provides financial planning services, 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.

Scissortail Wealth Management: assets under management

The assets under management (AUM) of Scissortail Wealth Management, LLC is $134.76 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 $121.24 million in discretionary accounts and $13.52 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $208.32 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $214.53 thousand.

Scissortail Wealth Management has custody of $330 thousand in cash and securities for 2 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 67% of the total AUM. The second-largest asset type is exchange traded securities, which make up 21% of the firm’s portfolio. Investments in cash and cash equivalents form 11% of the total invested assets.

Fees & Commissions

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

The firm provides services to individuals and high net worth individuals. The largest group of clients of Scissortail Wealth Management is high net worth individuals with 50 clients and $100.18 million of assets under management. Among the 10 most similar advisory firms, Scissortail Wealth Management has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $134.76 million for 137 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.

Scissortail Wealth Management doesn't advise any private funds.

Careers at Scissortail Wealth Management, LLC

The company employs 3 people that are either part- or full-time employees. 67 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
Ashlea Ann Davis	Manager, chief compliance officer	1 Jun 2018	75% - 100%	6981459
Todd Charles Welsh	Founder, senior partner, managing member	1 Nov 2018	50% - 75%	3214419
Richard L. Howard	Founder, senior partner, managing member	1 Nov 2018	50% - 75%	4006791
David Louis Littleton	Chief compliance officer	1 May 2019	Other	5066624

Based in Tulsa

The principal office where Scissortail Wealth Management, LLC performs its advisory services is located at 1203 East 33 Rd Street, Tulsa, OK 74105, 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 (918) 956-0500 or by fax (844) 739-6951. The normal business hours are 8:30am - 4:00pm on Monday - Friday. You can find more information about the New York firm at scissortailwealth.com.