Beaird Harris Wealth Management, Inc. (Dallas)

Name: Beaird Harris Wealth Management, Inc.
Address: 12221 Merit Dr, Dallas, TX, 75251
Telephone: 972-503-1040

Beaird Harris Wealth Management, Inc. is a large advisory firm based in Dallas. It manages $1.07 billion of regulatory assets for 2,227 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of California, Colorado, Florida, and 5 other states.

Beaird Harris Wealth Management provides financial planning services, portfolio management for individuals and small businesses, and pension consulting services. It prepares financial plans for more than 499 clients. On top of advisory services, the firm doesn't engage in other business activities.

Beaird Harris Wealth Management: assets under management

The assets under management (AUM) of Beaird Harris Wealth Management, Inc. is $1.07 billion. The firm's AUM has grown by 242% since the beginning of its operation, and $358.25 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $987 million in discretionary accounts and $85.32 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $517.84 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $265.79 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 cash and cash equivalents, which make up 8% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Beaird Harris Wealth Management, Inc. 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 Beaird Harris Wealth Management 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 Beaird Harris Wealth Management is high net worth individuals with 285 clients and $844.8 million of assets under management. Among the 9 most similar advisory firms, Beaird Harris Wealth Management has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.06 billion for 631 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.

Beaird Harris Wealth Management doesn't advise any private funds.

Careers at Beaird Harris Wealth Management, Inc.

The company employs 16 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. 14 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 compensates 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
Patrick C Beaird	President, chief financial officer	1 May 1996	50% - 75%	2789900
Donald Blake Harris	Vice president	1 May 1996	Other	1044148
Patrick Beaird	President, chief financial officer	1 May 1996	75% - 100%	2789900
Steven Mark Lugar	Chief operating officer	1 Jun 2000	Other	1044095
Jacob Burk King	Chief compliance officer	1 Jan 2013	Other	5476454
Paula W Allgood	Shareholder	1 Jan 2013	Other	3009745
John Otto Hetzel	Shareholder	1 Jan 2015	Other	4147688
James Edward Zimmerman	Shareholder	1 Dec 2016	Other	3136109
Justin Darrel Watson	Shareholder	1 Jan 2018	Other	5054149

Based in Dallas

The principal office where Beaird Harris Wealth Management, Inc. performs its advisory services is located at 12221 Merit Dr, Dallas, TX 75251, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 972-503-1040 or by fax 972-503-1120. The normal business hours are 8:30 a.m.-5:00 p.m. on Monday - Friday. You can find more information about the New York firm at bh-wm.com.