Dougherty Wealth Advisers LLC (Minneapolis)


Dougherty Wealth Advisers LLC is a related adviser based in Minneapolis. It manages $94.92 million of regulatory assets for 105 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdiction of Minnesota.

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

Dougherty Wealth Advisers: assets under management

The assets under management (AUM) of Dougherty Wealth Advisers LLC is $94.92 million. The firm's AUM has gone down by -9% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $80.67 million in discretionary accounts and $14.25 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $823.17 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.04 million.
Dougherty Wealth Advisers has custody of $94.92 million in cash and securities for 22 clients in total and acts as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 44% of the total AUM. The second-largest asset type is exchange traded securities, which make up 30% of the firm’s portfolio. Investments in state and local bonds form 24% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Dougherty Wealth Advisers LLC for their services and products based on a percentage of assets under management, fixed fees, and commissions. Commissions are paid and earned by the adviser when a trade or a sales of an investment is made. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Dougherty Wealth Advisers serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Dougherty Wealth Advisers is high net worth individuals with 16 clients and $90.92 million of assets under management. Among the 6 most similar advisory firms, Dougherty Wealth Advisers has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $94.92 million for 22 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.

Dougherty Wealth Advisers doesn't advise any private funds.

Careers at Dougherty Wealth Advisers LLC

The company employs 2 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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.

Todd David Witcraft joined the executive team most recently as the Chief Executive Officer.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Michelle Marie Sandberg Treasurer, secretary 1 Jan 2006 Other 2070925
Pamela Kay Reinitz Ziermann Chief compliance officer 1 Jan 2006 Other 2083562
Jennifer Ardella Enter Arps Managing director 1 Jan 2006 Other 4570639
Thomas Joseph Abood Secretary 1 Jan 2006 Other 2568143
Dougherty Financial Group Llc Member 1 Mar 2012 75% - 100% 41-1866893
Jeffrey Duane Jacobson Executive vice president 1 Apr 2012 Other 1976541
Gerald Anthony Kraut Chief executive officer 1 Apr 2012 Other 1502494
David Evans Rosedahl General counsel 1 Oct 2016 Other 868211
Roger Allan Norris Chief compliance officer 1 Nov 2017 Other 2201413
Todd David Witcraft Chief executive officer 1 Mar 2018 Other 2067534
Thomas Francis Steichen General counsel, secretary 1 Mar 2018 Other 6920110

Indirect Owners

The SEC currently registers 3 indirect owners.

Name Entity Date acquired Ownership Employer ID
Michael Emmett Dougherty Member 1 Jan 2006 75% - 100% 70900
Michael Emmett Dougherty Trustee 1 Apr 2014 50% - 75% 70900
2006 Michael E. Dougherty Revocable Trust Dated March 27 Member 1 Apr 2014 50% - 75% 00-0000000

Based in Minneapolis

The principal office where Dougherty Wealth Advisers LLC performs its advisory services is located at 90 South Seventh Street, Suite 4300, Minneapolis, MN 55402, 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 612-317-2099 or by fax 612-317-2160. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at doughertywealthadvisers.com.