Venturi Private Wealth is a fee-only financial advisory firm based in Austin, Texas. It was founded in 2015 by two former Merrill Lynch advisors. The firm's team comprises industry professionals who have more than 150 years of combined experience.
In addition to its headquarters in Austin, Venturi Private Wealth also has an office in Oklahoma City.
Venturi Private Wealth Background
Russell Norwood, CEO, is one of the principal owners of Venturi Wealth Management. Norwood is a Certified Financial Planner™ (CFP®) and a certified investment management analyst (CIMA). He spent 23 years at Merrill Lynch prior to founding the firm and has worked in financial services since 1986.
George Lawson Clark co-founded the firm with Norwood, having previosuly worked at Merrill Lynch for 18 years as an institutional relationship manager. He is a chartered financial analyst (CFA).
Including Norwood and Clark's certifications, the team in Austin includes members who hold the CFP® and CFA designations, as wella as the certified exit planning advisor (CEPA), certified private wealth advisor (CPWA) and certified investment management analyst (CIMA).
While the firm is registered with the Securities and Exchange Commission (SEC)under it's legal name – Venturi Wealth Management – it conducts business as Venturi Private Wealth.
Venturi Private Wealth Client Types and Minimum Account Sizes
While Venturi serves individuals, trusts, estates, charitable organizations, corporations and pooled investment vehicles, the company’s focus is on high-net-worth individuals. To work with Venturi, you need a minimum of $2.5 million. The firm’s services are tailored to serve those with significant wealth.
Services Offered by Venturi Private Wealth
Venturi Wealth Management offers financial planning, portfolio management and a selection of other advisors (including private fund managers). Its financial planning and consulting services may include any of the following: investment consulting, insurance planning, retirement planning, charitable giving, business planning, cash flow forecasting, trust and estate planning, financial reporting, distribution planning, tax planning, manager due diligence and executive stock planning. The firm is able to provide these services in conjunction with investment portfolio management or on a standalone basis.
For portfolio management, a client's assets will be allocated among securities such as:
- Mutual funds
- Exchange-traded funds
- Individual debt and equity securities
- Options
- Independent investment managers
Your asset allocation will depend on your risk tolerance, time horizon, liquidity constraints and other relevant factors. Your initial discussions with your advisor will help shape your portfolio’s investment strategy. The firm also manages nine private funds, which may be offered to qualified investors.
Venturi Private Wealth Investing Philosophy
Venturi Private Wealth employs a personalized investment strategy tailored to each client’s unique financial objectives. Clients typically grant Venturi discretionary authority to manage their accounts, allowing the firm to make investment decisions without requiring client approval for each trade.
Venturi allocates assets across various investment vehicles, including mutual funds, ETFs, individual securities, and options, as well as independent and private investment managers. For certain clients, Venturi may recommend investments in privately placed securities, such as limited partnerships. The firm also provides advisory services for assets held outside of traditional custodians, such as variable life insurance, annuity contracts, and employer-sponsored retirement plans. Venturi continuously consults with clients to ensure their portfolios align with their risk tolerance, time horizon, and liquidity needs, offering non-discretionary management when necessary.
To evaluate and select inestments, the firm uses the fundamental method of analysis. This involves an evaluation of the financial condition and surrounding economics behind a particular fund or issuer. The method involves examining qualitative and quantitative factors such as revenues, earnings future growth and more.
Fees Under Venturi Private Wealth
Venturi is a fee-only investment advisory firm, meaning its compensation comes solely from the fees that clients pay for advisory services. The firm itself and its advisors do not collect third-party sales commissions for selling financial products. While some of the firm's employees are licensed insurance agents, they do not receive sale commissions on such transactions.
Venturi’s fees are tiered, similarly to many other firms. This means that you calculate the fee based on the different levels shown below. For example, if your portfolio is $7 million, the first $2.50 million is calculated at 1.00%, the next $2.5 million at 0.85% and the last $2 million at 0.75% for a $61,250 total. You can see a full table of rates below.
| Venturi Private Wealth Fees | |
| Portfolio Value | Fee Rate |
| Up to $2,500,000 | 1.00% |
| $2,500,001 - $5,000,000 | 0.85% |
| $5,000,001 - $10,000,000 | 0.75% |
| $10,000,001 - $25,000,000 | 0.65% |
| $25,000,001 - $50,000,000 | 0.60% |
| $50,000,001 - $100,000,000 | 0.55% |
| $100,000,001 - $200,000,000 | 0.40% |
| $200,000,001 - $300,000,000 | 0.35% |
Here is the estimated dollar amount you'd pay in advisory fees based on the size of your account:
| *Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount. | |
| Estimated Investment Management Fees at Venturi Private Wealth* | |
| Your Assets | Annual Fee Amount |
| $2.5MM | $25,000 |
| $5MM | $46,250 |
| $10MM | $83,750 |
| $25MM | $181,250 |
| $50MM | $331,250 |
| $75MM | $468,750 |
For financial planning or consulting services for standalone engagements, Venturi charges a fixed fee or hourly rate. Generally, this will cost $1,000 and up.
The company also provides business advisory services at an hourly rate.
Clients are responsible for paying brokerage fees imposed by third parties. This includes brokerage commissions, custodial fees, margin costs, mutual fund or ETF charges and more. This means if trades are executed for your account, you are responsible for the associated fees.
Learn more about advisors' typical costs here.
Venturi Private Wealth Awards and Recognition
Venturi Wealth Management was named one of the 2020 Top 300 Financial Advisors in the U.S. by the Financial Times. In 2017 and 2018, Financial Times recognized Venturi as one of its Top 300 Registered Investment Advisors.
Barron’s named CEO and co-founder Russell Norwood as one of its Top 1,000 Financial Advisors in the U.S. from 2009 through 2015.
What to Watch Out For
Venturi Wealth Management had no disclosures of legal or disciplinary action in its most recent filings with the SEC.
Opening an Account With Venturi Private Wealth
If you want to work with Venturi, you can get the ball rolling by calling (512) 220-2035, emailing info@venturiwealth.com or filling out a short contact form on its website.
All information is accurate as of the writing of this article.
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