Strategic Wealth Management is an investment management firm with its headquarters in Bedford, Texas. The firm primarily works with individual clients, but it is also works with at least one institutional client. As a fee-based firm, advisors on staff may earn additional compensation when recommending certain financial products and services.
Strategic Wealth Management Background
Strategic Wealth Management has been an independent registered investment advisor since 2014. It switched registration from the state of Texas to the SEC in 2017. The firm is solely owned by Matthew Condit, who serves as president and chief compliance officer. He has also been a Certified Financial Planner™ (CFP®) since 2012.
Strategic Wealth Management Client Types and Minimum Account Sizes
Strategic Wealth Management is a wealth advisor for both individuals and high-net-worth individuals. Additionally, Strategic Wealth Management is capable of working with trusts, estates, charitable organizations, corporations, limited liability companies and other types of businesses. The firm is independent of major financial institutions, so clients looking for a boutique-style advisor may find what they are looking for.
There is no minimum investment required to open an account at Strategic Wealth Management. To use an advisory program sponsored by LPL Financial, an account minimum of between $15,000 to $250,000, depending on the advisory program, is required.
Services Offered at Strategic Wealth Management
Strategic Wealth Management offers the following services:
- Comprehensive portfolio management: Ongoing investment management integrated with financial planning based on a client’s goals, risk tolerance, and financial situation. This includes portfolio construction using ETFs, mutual funds, stocks, bonds, and other securities, along with regular account reviews and rebalancing.
- Financial planning and consulting: Custom financial plans and consultations addressing areas such as:
- Investment planning
- Retirement planning
- Estate and charitable planning
- Education funding
- Corporate and personal tax planning
- Insurance analysis
- Real estate and debt analysis
- Business and personal finance strategy
- Third-party manager selection: Access to LPL Financial’s Manager Access Select program, which allows clients to work with third-party professional portfolio managers selected with the help of a Strategic Wealth Management advisor.
- Risk assessment and management: Evaluation of client risk tolerance and corresponding investment strategies, including the use of options, margin transactions, and hedging strategies where appropriate.
- Employee and executive benefit planning: Advice related to optimizing workplace benefits, including stock options, retirement accounts and insurance coverage.
Strategic Wealth Management Investment Philosophy
Strategic Wealth Management employs a client-centered approach grounded in fundamental, technical, and cyclical analysis. Portfolios are built using a mix of long-term and short-term investments, often including ETFs, mutual funds, individual stocks and bonds, and other securities. The firm considers cash and cash equivalents a distinct asset class and may include them in portfolios when appropriate.
Investment strategies are tailored to each client’s objectives, risk tolerance, and time horizon. The firm may also use margin transactions and options strategies—including covered calls and spreads—to pursue specific goals or manage risk. While the firm primarily manages portfolios directly, it may also recommend third-party managers when beneficial.
Fees Under Strategic Wealth Management
Strategic Wealth Management charges an advisory fee based on a percentage of assets under management. It does not participate in a wrap fee program in which all of the services the firm offers are paid for by one comprehensive fee.
The firm’s comprehensive portfolio management fee ranges from 0.50% to 1% of assets under management. Fees are negotiable. For clients using advisory program sponsored by LPL Financial, the fee is negotiable and may be as high as 2% of assets under management. The LPL Financial-sponsored advisory program is called Managed Access Select Program, and it gives clients access to professional portfolio management services from third parties, chosen from a list provided by LPL.
In addition to asset-based fees, clients also pay for any transaction charges incurred by making trades. For financial planning and consulting, the firm charges a hourly fee or a flat fee. Hourly fees range from $80 to $300 and flat fees range from $750 to $15,000. A minimum fee of $750 is required for written financial plans.
Learn more about advisors' typical costs here.
What to Watch Out For
Potential clients should note that Strategic Wealth Management a separate fee for asset management and for financial planning. Make sure to keep that in mind when figuring out how much you’ll pay in total.
Based on the firm's latest SEC filings, there are no disclosures on the record for Strategic Wealth Management in the past 10 years.
Also, keep in mind that advisors on staff can earn third-party commissions for selling insurance or investment products. This is a conflict of interest, because advisors have a financial incentive to make certain recommendations. However, Strategic Wealth Management is a fiduciary and must act in its clients' best interests.
Opening an Account With Strategic Wealth Management
Potential customers can fill out a form on the company’s website to get in touch with Strategic Wealth Management. The form asks for contact information and has a space to ask why you are interested in getting in touch.
All information is accurate as of the writing of this article.
Financial Planning Tips
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