Erts Wealth Advisors, LLC (Marquette)


Erts Wealth Advisors, LLC is a large advisory firm based in Marquette. It manages $222 million of regulatory assets for 1,740 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Florida, Illinois, Louisiana, and 4 other states.

Erts Wealth Advisors provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and selection of other advisers. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Erts Wealth Advisors: assets under management

The assets under management (AUM) of Erts Wealth Advisors, LLC is $222 million. The firm's AUM has gone down by -5% since the beginning of its operation, and $1 million of the total AUM is attributable to clients outside of the United States.

The firm manages $216 million in discretionary accounts and $6 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $135 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $42.86 thousand.
Erts Wealth Advisors has custody of $65 million in cash and securities for 114 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 75% of the total AUM. The second-largest asset type is investment and business development companies, which make up 22% of the firm’s portfolio. Investments in cash and cash equivalents form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Erts Wealth Advisors, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Erts Wealth Advisors serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Erts Wealth Advisors is high net worth individuals with 100 clients and $153 million of assets under management. Among the 8 most similar advisory firms, Erts Wealth Advisors has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $222 million for 700 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Erts Wealth Advisors doesn't advise any private funds.

Careers at Erts Wealth Advisors, LLC

The company employs 10 people that are either part- or full-time employees. 40 percent of the employees work as investment advisers or researchers. 4 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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
Inc. Roberts Financial Services Managing member 1 Sep 2017 50% - 75% #
Inc. Mommaerts Mahaney Financial Services Managing member 1 Sep 2017 50% - 75% 70-0780466
Jon Charles Mommaerts Principal 1 Oct 2017 Other 2450742
Bruce Allan Roberts Principal and chief compliance officer 1 Oct 2017 Other 2345101

Indirect Owners

The SEC currently registers 2 indirect owners.

Name Entity Date acquired Ownership Employer ID
Jon Charles Mommaerts President 1 Jan 2012 75% - 100% 2450742
Bruce Allan Roberts President 1 Sep 2017 75% - 100% 2345101

Based in Marquette

The principal office where Erts Wealth Advisors, LLC performs its advisory services is located at 989 West Washington Street, Marquette, MI 49855, 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 (906) 228-5564 or by fax (906) 226-4694. The normal business hours are 8:30am to 5:00pm on Monday - Friday. You can find more information about the New York firm at mommaerts-mahaney.com and its LinkedIn profile.