Wealth Management & Business Concepts (Lake Forest)

Name: Wealth Management & Business Concepts
Address: 23201 Lake Center Drive, Lake Forest, CA, 92630
Telephone: 949-829-9622

Wealth Management & Business Concepts is a large advisory firm based in Lake Forest. It manages $96.6 million of regulatory assets for 1,061 client accounts. It has been registered with the SEC as an adviser since 2003 and has operated in the jurisdiction of California.

Wealth Management & Business Concepts provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and educational seminars and workshops. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Wealth Management & Business Concepts: assets under management

The assets under management (AUM) of Wealth Management & Business Concepts is $96.6 million. The firm's AUM has grown by 110% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

Investments

The firm invests in exchange traded securities the most. They account for 81% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 16% of the firm’s portfolio. Investments in other assets form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Wealth Management & Business Concepts for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients David Scott Coles serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of David Scott Coles is high net worth individuals with 22 clients and $59.64 million of assets under management. Among the 7 most similar advisory firms, Wealth Management & Business Concepts has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $96.29 million for 200 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.

Wealth Management & Business Concepts doesn't advise any private funds.

Careers at Wealth Management & Business Concepts

The company employs 4 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 2 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.

David Scott Coles has been acting as President since 1 Nov 2002. David Sheldon Coles joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David Scott Coles	President	1 Nov 2002	75% - 100%	1143362
Angela Rae Kuno	Compliance officer	1 Oct 2004	Other	4511155
David Sheldon Coles	Chief compliance officer	1 May 2010	Other	5379727

Based in Lake Forest

The principal office where Wealth Management & Business Concepts performs its advisory services is located at 23201 Lake Center Drive, Lake Forest, CA 92630, 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 949-829-9622 or by fax 949-829-9629. The normal business hours are 8:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at wmbci.com and its LinkedIn profile.