Beacon Harbor Wealth Advisors, Inc. (Virginia Beach)

Beacon Harbor Wealth Advisors, Inc. is a large advisory firm based in Virginia Beach. It manages $209.99 million of regulatory assets for 846 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of Florida, North Carolina, Texas, and Virginia.

Beacon Harbor Wealth Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Beacon Harbor Wealth Advisors: assets under management

The assets under management (AUM) of Beacon Harbor Wealth Advisors, Inc. is $209.99 million. The company doesn't manage any assets belonging to foreign clients.

The firm manages $201.8 million in discretionary accounts and $8.19 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $257.73 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $130.02 thousand.

Beacon Harbor Wealth Advisors has custody of $834.7 thousand in cash and securities for 5 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 48% of the total AUM. The second-largest asset type is exchange traded securities, which make up 30% of the firm’s portfolio. Investments in government bonds form 17% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Beacon Harbor Wealth Advisors, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Beacon Harbor Wealth Advisors serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Beacon Harbor Wealth Advisors is high net worth individuals with 65 clients and $117.26 million of assets under management. Among the 10 most similar advisory firms, Beacon Harbor Wealth Advisors has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $196.66 million for 286 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.

Beacon Harbor Wealth Advisors doesn't advise any private funds.

Careers at Beacon Harbor Wealth Advisors, Inc.

The company employs 5 people that are either part- or full-time employees. 60 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
Jeremy Wayne Ingram	Co-president, cio and cco	1 Dec 2018	50% - 75%	4281667
George Gardes Macdonald	Co-president and ceo	1 Dec 2018	50% - 75%	1676680

Based in Virginia Beach

The principal office where Beacon Harbor Wealth Advisors, Inc. performs its advisory services is located at 440 Viking Drive, Suite 200, Virginia Beach, VA 23452, 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 757-644-4545 or by fax 757-644-4373. The normal business hours are 9:00 to 5:00pm on Monday - Friday.