Wealthcare Capital Management LLC (Richmond)

Name: Wealthcare Capital Management LLC
Address: 2 James Center, Richmond, VA, 23219
Telephone: 804-644-4711

Wealthcare Capital Management LLC is a large advisory firm based in Richmond. It manages $1.26 billion of regulatory assets for 6,034 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Arizona, California, Colorado, and 31 other states.

Wealthcare Capital Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for approximately 1,500 clients. On top of advisory services, the firm doesn't engage in other business activities.

Wealthcare Capital Management: assets under management

The assets under management (AUM) of Wealthcare Capital Management LLC is $1.26 billion. The firm's AUM has grown by 55% since the beginning of its operation, and $13.44 million of the total AUM is attributable to clients outside of the United States.

The firm manages $1.24 billion in discretionary accounts and $25.73 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $209.88 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $192.03 thousand.

Wealthcare Capital Management has custody of $47.11 million in cash and securities for 92 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 77% of the total AUM. The second-largest asset type is investment and business development companies, which make up 18% of the firm’s portfolio. Investments in cash and cash equivalents form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Wealthcare Capital Management LLC for their services and products based on a percentage of assets under management, hourly charges, 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 Matthew Thomas Regan 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 Matthew Thomas Regan is individuals with 2,439 clients and $650.57 million of assets under management. Among the 9 most similar advisory firms, Wealthcare Capital Management has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $1.26 billion for 2,779 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.

Wealthcare Capital Management doesn't advise any private funds.

Careers at Wealthcare Capital Management LLC

The company employs 57 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. 34 employees are registered as investment adviser representatives with the state securities authorities.

There are 3 people 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.

Matthew Thomas Regan has been acting as President since 1 Aug 2018. Ronald Eliot Madey has served as the Chief Investment Officer since 1 Mar 2014. Financeware Holdings Llc F/K/A Wealthcare Holdings Llc joined the executive team most recently as the Manager And Sole Member.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Robert Payne Wilson	Chief compliance officer	1 May 1999	Other	1367850
Bernard Eric Yancey	Chief technology officer	1 Jun 2001	Other	6894855
Karen Kelly Nelson	Senior managing director - chief advisory services officer	1 Aug 2002	Other	5215080
Michael Ashker	President & chief executive officer	1 Dec 2013	Other	1296719
Teresa Marie Schafer	Chief financial officer & chief operating officer (treasurer/secretary for wealthcare)	1 Dec 2013	Other	1657564
Wealthcare Sub Holdings Inc.	Shareholder	1 Dec 2013	75% - 100%	46-3935624
Leonard Alan Reinhart	Executive director - board of managers	1 Dec 2013	Other	871907
Walter Perry Maner	Board of managers - wealthcare capital management llc	1 Dec 2013	Other	4367187
Bernard Eric Yancey	Chief technology officer	1 Feb 2014	Other	6894855
Ronald Eliot Madey	Chief investment officer	1 Mar 2014	Other	2647000
Justin Dubrueler	Chief financial officer / chief administration officer	1 Sep 2014	Other	6865294
John Robert Lohr	Chief compliance officer	1 Jan 2015	Other	1676488
Brandy Nelson Weiberg	Chief compliance officer	1 Sep 2017	Other	5095083
Ronald Eliot Madey	Chief executive officer / chief investment officer	1 Apr 2018	Other	2647000
Financeware Llc	Member	1 Apr 2018	50% - 75%	36-4894849
Vms Intermediate Inc.	Member	1 Apr 2018	25% - 50%	81-4552430
Matthew Thomas Regan	President	1 Aug 2018	Other	2482606

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Wealthcare Holdings Llc	Shareholder of wealthcare sub holdings inc.	1 Dec 2013	75% - 100%	46-3847427
Newspring Holdings Llc	Member of wealthcare holdings llc	1 Dec 2013	50% - 75%	90-0961800
Financeware Holdings Llc F/K/A Wealthcare Holdings Llc	Manager and sole member	1 Apr 2018	75% - 100%	46-3847427

Based in Richmond

The principal office where Wealthcare Capital Management LLC performs its advisory services is located at 2 James Center, Richmond, VA 23219, which is also the mailing address of the firm. An additional office of the firm is in Louisville, KY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 804-644-4711 or by fax 804-644-4759. The normal business hours are 9:00 am - 5:30 pm on Monday - Friday. You can find more information about the New York firm at decaturfinancialadvisor.com.