Oakmont Wealth Advisory, LLC (Herndon)

Name: Oakmont Wealth Advisory, LLC
Address: 12390 Worldgate Drive, #150, Herndon, VA, 20170
Telephone: 571-313-5125

Oakmont Wealth Advisory, LLC is a large advisory firm based in Herndon. It manages $126.55 million of regulatory assets for 257 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Maryland and Virginia.

Oakmont Wealth Advisory provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and publication of newsletters. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Oakmont Wealth Advisory: assets under management

The assets under management (AUM) of Oakmont Wealth Advisory, LLC is $126.55 million, all of which is managed in discretionary accounts. The company doesn't manage any assets belonging to foreign clients.

The firm manages $126.55 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $492.41 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 95% of the total AUM. The second-largest asset type is exchange traded securities, which make up 2% 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 Oakmont Wealth Advisory, LLC for their services and products based on a percentage of assets under management and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Oakmont Wealth Advisory serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of Oakmont Wealth Advisory is high net worth individuals with 27 clients and $72 million of assets under management. Among the 11 most similar advisory firms, Oakmont Wealth Advisory has the 5th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $126.55 million for 124 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.

Oakmont Wealth Advisory doesn't advise any private funds.

Careers at Oakmont Wealth Advisory, LLC

The company employs 5 people that are either part- or full-time employees. 80 percent of the employees work as investment advisers or researchers. 4 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
Douglas Hart Birnie	Elected manager	1 Sep 2018	50% - 75%	2646049
William David Berger	Elected manager, chief compliance officer	1 Sep 2018	50% - 75%	2258317

Based in Herndon

The principal office where Oakmont Wealth Advisory, LLC performs its advisory services is located at 12390 Worldgate Drive, #150, Herndon, VA 20170, which is also the mailing address of the firm. An additional office of the firm is in Columbia, MD. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 571-313-5125. The normal business hours are 9 am - 5 pm on Monday - Friday. You can find more information about the New York firm at whiteoakwealthmanagement.com/ and its LinkedIn profile.