Whitley Penn Financial, L.L.P. (Fort Worth)

Name: Whitley Penn Financial, L.L.P.
Address: 640 Taylor Street, Fort Worth, TX, 76102
Telephone: 817-259-9100

Whitley Penn Financial, L.L.P. is a large advisory firm based in Fort Worth. It manages $512.76 million of regulatory assets for 2,150 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdiction of Texas.

Whitley Penn Financial provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and publication of newsletters. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Whitley Penn Financial: assets under management

The assets under management (AUM) of Whitley Penn Financial, L.L.P. is $512.76 million. The firm's AUM has grown by 298% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $460.8 million in discretionary accounts and $51.96 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $547.92 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $39.69 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 92% of the total AUM. The second-largest asset type is exchange traded securities, which make up 8% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Whitley Penn Financial, L.L.P. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Whitley Penn Financial serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Whitley Penn Financial is high net worth individuals with 125 clients and $349.55 million of assets under management. Among the 7 most similar advisory firms, Whitley Penn Financial has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $512.76 million for 324 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.

Whitley Penn Financial doesn't advise any private funds.

Careers at Whitley Penn Financial, L.L.P.

The company employs 8 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 8 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
Thomas Jeffrey Rein	Managing director/limited partner	1 Jan 2006	Other	3268842
Larry Gene Autrey	Limited partner	1 Jan 2006	Other	3270935
Michael Robert Bodwell	Limited partner	1 Jan 2006	Other	5077142
Felix Joseph Lozano	Limited partner	1 Jan 2006	Other	3269974
James Charles Penn	Limited partner	1 Jan 2006	Other	4019529
Mark Allen Topel	Limited partner	1 Jan 2006	Other	3270495
L.L.P. Whitley Penn	General partner	1 Jan 2006	Other	75-2852951
David Louis Neal	Limited partner	1 Jan 2006	Other	4087695
John Alan White	Member	1 Jan 2006	Other	3270871
L.L.P. Whitley Penn Financial Services	General partner	1 Jan 2006	Other	75-2852951
Scott Alan Mayfield	Limited partner	1 Jan 2009	Other	5752692
Matthew Alois Reiter	Limited partner	1 Jan 2010	Other	5553051
John Westley Vallance	Limited partner	1 Jan 2011	Other	6040464
Jeffry Shannon Lawlis	Limited partner	1 Jan 2011	Other	6040512
John Vallance	Limited partner	1 Jan 2011	Other	6040464
Jeffry Lawlis	Limited partner	1 Jan 2011	Other	6040512
Kevin James Schillo	Chief compliance officer	1 Aug 2012	Other	3222362
Toby James Cotton	Limited partner	1 Dec 2013	Other	6309782
Toby Cotton	Limited partner	1 Dec 2013	Other	6309782
Cecil Wayne Jones	Limited partner	1 Jan 2014	Other	6447032
Cecil Jones	Limited partner	1 Jan 2014	Other	6447032
Rebecca Janine Sierp	Chief compliance officer	1 Oct 2014	Other	5768326
Randall Allen Gregg	Limited partner	1 Dec 2015	Other	6619884
Randy Gregg	Limited partner	1 Dec 2015	Other	6619884

Based in Fort Worth

The principal office where Whitley Penn Financial, L.L.P. performs its advisory services is located at 640 Taylor Street, Fort Worth, TX 76102, which is also the mailing address of the firm. An additional office of the firm is in Dallas, TX. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 817-259-9100 or by fax 817-259-9101. The normal business hours are 8:00 - 5:00 on Monday - Friday. You can find more information about the New York firm at wpfinancial.net/.