Silverlake Wealth Management LLC (Williston)

Name: Silverlake Wealth Management LLC
Address: 33 Blair Park Road, Williston, VT, 05495
Telephone: (802) 857-5083

Silverlake Wealth Management LLC is a large advisory firm based in Williston. It manages $132.59 million of regulatory assets for 366 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of Massachusetts, New York, and Vermont.

Silverlake Wealth Management provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and selection of other advisers. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Silverlake Wealth Management: assets under management

The assets under management (AUM) of Silverlake Wealth Management LLC is $132.59 million. The firm's AUM has grown by 192% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $103.72 million in discretionary accounts and $28.86 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $345.75 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $437.3 thousand.

Silverlake Wealth Management has custody of $1.06 million in cash and securities for 1 client in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 46% of the total AUM. The second-largest asset type is investment and business development companies, which make up 34% of the firm’s portfolio. Investments in cash and cash equivalents form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Silverlake Wealth 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 Silverlake Wealth Management serves?

The firm provides services to individuals, other investment advisers, and high net worth individuals. The largest group of clients of Silverlake Wealth Management is high net worth individuals with 36 clients and $66.92 million of assets under management. Among the 8 most similar advisory firms, Silverlake Wealth Management has the 3rd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $128.07 million for 242 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.

Silverlake Wealth Management doesn't advise any private funds.

Careers at Silverlake Wealth Management LLC

The company employs 8 people that are either part- or full-time employees. 63 percent of the employees work as investment advisers or researchers. 5 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
Jeffrey Donald Steele	Member, managing partner and chief compliance officer	1 Nov 2012	Other	2111373
Richard Joseph Briand	Member, managing partner	1 Nov 2012	Other	1045809
Theodore Martin Riehle	Member, managing partner	1 Nov 2012	Other	1053690
Thomas Joseph Golonka	Member, managing partner	1 Nov 2012	Other	2209094
Robert William Eddy	Member, managing partner	1 Nov 2012	Other	75378

Based in Williston

The principal office where Silverlake Wealth Management LLC performs its advisory services is located at 33 Blair Park Road, Williston, VT 05495, which is also the mailing address of the firm. An additional office of the firm is in Montpelier, VT. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (802) 857-5083 or by fax (802) 857-5082. The normal business hours are 9:00am to 5:00pm on Monday - Friday. You can find more information about the New York firm at silverlakewealth.com.