Transparent Wealth Consulting LLC (Lakeville)


Transparent Wealth Consulting LLC is a mid-sized advisory firm based in Lakeville. It manages $35.27 million of regulatory assets for 277 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Florida and New York.

Transparent Wealth Consulting provides financial planning services, portfolio management for individuals and small businesses, and pension consulting services. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Transparent Wealth Consulting: assets under management

The assets under management (AUM) of Transparent Wealth Consulting LLC is $35.27 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 4% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $35.27 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $127.34 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 95% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 4% of the firm’s portfolio. Investments in exchange traded securities form 1% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Transparent Wealth Consulting 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 Transparent Wealth Consulting serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Transparent Wealth Consulting is individuals with 119 clients and $25.11 million of assets under management. Among the 1 most similar advisory firms, Transparent Wealth Consulting has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $35.27 million for 130 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.

Transparent Wealth Consulting doesn't advise any private funds.

Careers at Transparent Wealth Consulting LLC

The company employs 1 person that is either a part- or full-time employee. 100 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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.

Transparent Wealth Consulting LLC is owned by Colleen Fitzpatrick Knapp. Chelsea Marie Knapp joined the executive team most recently as the Advisor & Chief Compliance Officer.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Chelsea Marie Knapp Advisor & chief compliance officer 1 Jan 2016 25% - 50% 6464691
Colleen Fitzpatrick Knapp Owner 1 Jan 2017 50% - 75% 847427

Based in Lakeville

The principal office where Transparent Wealth Consulting LLC performs its advisory services is located at 3031 Rochester Rd, Lakeville, NY 14480, which is also the mailing address of the firm. An additional office of the firm is in New York, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 585-348-3808 or by fax 585-348-2930. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday.