Choice Wealth Advisors LLC (Waterville)

Name: Choice Wealth Advisors LLC
Address: 325 D Kennedy Memorial Drive, Waterville, ME, 04901
Telephone: (207) 873-0996

Choice Wealth Advisors LLC is a large advisory firm based in Waterville. It manages $116.22 million of regulatory assets for 798 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Florida, Louisiana, Maine, and 3 other states.

Choice Wealth Advisors provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, 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.

Choice Wealth Advisors: assets under management

The assets under management (AUM) of Choice Wealth Advisors LLC is $116.22 million. The firm's AUM has grown by 12% since the beginning of its operation, and $86.04 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $115.85 million in discretionary accounts and $366.93 thousand in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $145.54 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $183.47 thousand.

Choice Wealth Advisors has custody of $40.29 million in cash and securities for 121 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 85% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 5% of the firm’s portfolio. Investments in pooled investment vehicles form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Choice Wealth Advisors LLC 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 Richard Neal Forsley serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Richard Neal Forsley is individuals with 339 clients and $64.85 million of assets under management. Among the 7 most similar advisory firms, Choice Wealth Advisors has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $113.37 million for 389 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.

Choice Wealth Advisors doesn't advise any private funds.

Careers at Choice Wealth Advisors LLC

The company employs 5 people that are either part- or full-time employees. 80 percent of the employees work as investment advisers or researchers. 4 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.

Richard Neal Forsley has been acting as President since 1 Jun 2018. Christopher Arthur Markos joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Richard Neal Forsley	President	1 Jun 2018	Other	5183142
Christopher Arthur Markos	Chief compliance officer	1 Jun 2018	Other	5523951
Choice Investments	Managing member	1 Jun 2018	75% - 100%	20-2441108

Based in Waterville

The principal office where Choice Wealth Advisors LLC performs its advisory services is located at 325 D Kennedy Memorial Drive, Waterville, ME 04901, 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 (207) 873-0996. The normal business hours are 9:00 am - 4:30 pm on Monday - Friday. You can find more information about the New York firm at choicewealthadvisors.com.