Lwi Financial Inc. (San Jose)

Name: Lwi Financial Inc.
Address: 10 Almaden Blvd., San Jose, CA, 95113
Telephone: 800-366-7266

Lwi Financial Inc. is a large advisory firm based in San Jose. It manages $17.22 billion of regulatory assets for 25,748 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states.

Lwi Financial provides financial planning services, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for businesses and institutional clients, selection of other advisers, publication of newsletters, and educational seminars and workshops. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Lwi Financial: assets under management

The assets under management (AUM) of Lwi Financial Inc. is $17.22 billion. The firm's AUM has grown by 673% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

Lwi Financial has custody of $5.85 billion in cash and securities for 20,022 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 96% 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 Lwi Financial Inc. for their services and products based on a percentage of assets under management 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 Lwi Financial serves?

The firm provides services to individuals, insurance companies, investment companies, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Lwi Financial is individuals with 23,601 clients and $9.97 billion of assets under management. Among the 6 most similar advisory firms, Lwi Financial has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $14.32 billion for 25,729 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.

Lwi Financial doesn't advise any private funds.

Careers at Lwi Financial Inc.

The company employs 118 people that are either part- or full-time employees. 21 percent of the employees work as investment advisers or researchers. 41 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.

Howard Hoa Lee joined the executive team most recently as the Chief Operating Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Loring Ward Group Inc.	Shareholder	1 Jul 1998	75% - 100%	95-4699118
Alexander Bennett Potts	Executive v.p. & general manager	1 Sep 2000	Other	1765245
Frank Edward Pare	Chief compliance officer	1 May 2001	Other	2098302
Martin Sidney Weinberg	President, ceo, and director	1 Apr 2003	25% - 50%	4378574
Kim Ann Lawson	Corporate secretary	1 Sep 2004	Other	2190770
Jody Michelle Dawn Wreggit	Cfo and treasurer	1 Oct 2004	Other	4520962
Al Steele	President, loring ward advisor services	1 Oct 2004	Other	4863207
Albert Gerald Steele	President, loring ward advisor services	1 Oct 2004	Other	4863207
Michael Edwards Nairne	President, loring ward capital management	1 Nov 2004	Other	4736121
Donald James Herrema	Ceo, president, & director	1 Feb 2005	Other	2306826
Michael C. Lowengrub	Cfo and treasurer	1 May 2005	Other	4359382
Michael Charles Lowengrub	Cfo and treasurer	1 May 2005	Other	4359382
Robert Philip Herrmann	President, loring ward capital management division	1 Jul 2005	Other	1631231
Jeffrey Robert Magnusson	Treasurer	1 Jul 2005	Other	5015057
Steven Kent Mcginnis	Chief compliance officer	1 Dec 2005	Other	1471349
Robert Philip Herrmann	President, loring ward asset management and advisory services division	1 Feb 2006	Other	1631231
Gerard Patrick Melia	Chief financial officer	1 Mar 2006	Other	4924379
Robert Philip Herrmann	Ceo lwi financial, ceo & president, loring ward international ltd.	1 Apr 2006	Other	1631231
Alexander Bennett Potts	Executive vice president	1 Jun 2006	Other	1765245
Nicole P Newlin	Executive vice president	1 Jul 2007	Other	4181542
Robert Badolato	Chief financial officer	1 Nov 2007	Other	4896044
Alexander Bennett Potts	Chief executive officer	1 Jan 2009	Other	1765245
Michael Ray Clinton	Chief financial officer, executive vice president	1 Mar 2009	Other	2721577
Rosemary Anne Richard	Chief compliance officer	1 Mar 2011	Other	1460975
Christopher Dana Stanley	General counsel, chief compliance officer	1 Apr 2011	Other	5521175
Deborah Daphne Djeu	Chief compliance officer	1 Oct 2015	Other	2530202
Howard Hoa Lee	Chief operating officer	1 Apr 2016	Other	4640471

Indirect Owners

The SEC currently registers 6 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Loring Ward International Ltd.	Shareholder	1 Nov 2003	75% - 100%	85-5640884
Arcadia Loring Ward Llc	Shareholder	1 Aug 2008	50% - 75%	95-2150410
Inc. Werba Reinhard	Shareholder	1 Jan 2009	75% - 100%	26-1954167
Eli Reinhard	Shareholder	1 Jan 2009	50% - 75%	5511030
Loring Ward Holdings Inc.	Shareholder	1 Jan 2009	75% - 100%	26-1954167
Ltd. Werba Reinhard Holdings	Shareholder	1 Jan 2009	75% - 100%	foreign

Based in San Jose

The principal office where Lwi Financial Inc. performs its advisory services is located at 10 Almaden Blvd., San Jose, CA 95113, which is also the mailing address of the firm. An additional office of the firm is in Sacramento, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 800-366-7266 or by fax 669-400-8550. The normal business hours are 8:00 am to 4:30 pm on Monday - Friday. You can find more information about the New York firm at loringward.com.