Bbva Wealth Solutions Inc. (Houston)
Bbva Wealth Solutions Inc. is a large advisory firm based in Houston. It manages $875.57 million of regulatory assets for 3,061 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 40 other states.
Bbva Wealth Solutions provides portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.
Bbva Wealth Solutions: assets under management
The assets under management (AUM) of Bbva Wealth Solutions Inc. is $875.57 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 82% since the beginning of its operation, and $448.95 million of the total AUM is attributable to clients outside of the United States.
Investments
The firm invests in investment and business development companies the most. They account for 79% of the total AUM. The second-largest asset type is exchange traded securities, which make up 18% of the firm’s portfolio. Investments in cash and cash equivalents form 2% of the total invested assets.Fees & Commissions
The advisory firm has a single stream of revenue. Clients pay Bbva Wealth Solutions Inc. for their services and products based on a percentage of assets under management. 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 Bruce Andrew Hagemann serves?
The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Bruce Andrew Hagemann is individuals with 2,874 clients and $495.02 million of assets under management. Among the 11 most similar advisory firms, Bbva Wealth Solutions has the 3rd highest percentage of individuals out of all clients.
The amount of regulatory assets under management is $875.57 million for 3,061 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 17% of the firm’s clients are foreign persons or businesses.
Bbva Wealth Solutions doesn't advise any private funds.
Careers at Bbva Wealth Solutions Inc.
The company employs 389 people that are either part- or full-time employees. 58 percent of the employees work as investment advisers or researchers. No 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.
Bruce Andrew Hagemann has been acting as President since 1 Mar 2014. Suresh Raghavan has served as the Chief Investment Officer since 1 Jan 2005. Dorothy J. Hulvey joined the executive team most recently as the Chief Operating Officer.
Direct owners and executive officers
Indirect Owners
The SEC currently registers 7 indirect owners.Based in Houston
The principal office where Bbva Wealth Solutions Inc. performs its advisory services is located at 2200 Post Oak Blvd., Houston, TX 77056 4700, which is also the mailing address of the firm. An additional office of the firm is in Northport, AL. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 713-552-9277 or by fax 713-552-0906. 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 bbvawealthsolutions.com.
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