Diamond Wealth Management, LLC (Alpine)

Name: Diamond Wealth Management, LLC
Address: 40 W. Main Street Court, Alpine, UT, 84004
Telephone: 801-216-4811

Diamond Wealth Management, LLC is a large advisory firm based in Alpine. It manages $141.26 million of regulatory assets for 450 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Alaska, Arizona, California, and 6 other states.

Diamond Wealth Management provides financial planning services, portfolio management for individuals and small businesses, 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.

Diamond Wealth Management: assets under management

The assets under management (AUM) of Diamond Wealth Management, LLC is $141.26 million. The firm's AUM has grown by 36% since the beginning of its operation, and $6.06 million of the total AUM is attributable to clients outside of the United States.

The firm manages $140.73 million in discretionary accounts and $537 thousand in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $313.42 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $537 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 35% of the total AUM. The second-largest asset type is other assets, which make up 23% of the firm’s portfolio. Investments in cash and cash equivalents form 18% of the total invested assets.

Fees & Commissions

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

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Diamond Wealth Management is high net worth individuals with 86 clients and $119.01 million of assets under management. Among the 11 most similar advisory firms, Diamond Wealth Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $141.26 million for 206 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.

Diamond Wealth Management doesn't advise any private funds.

Careers at Diamond Wealth Management, LLC

The company employs 7 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 7 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
David Bart Hill	Chief compliance officer/managing member	1 May 2017	75% - 100%	4049028

Based in Alpine

The principal office where Diamond Wealth Management, LLC performs its advisory services is located at 40 W. Main Street Court, Alpine, UT 84004, which is also the mailing address of the firm. An additional office of the firm is in Greenwood Village, CO. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 801-216-4811. The normal business hours are 9-4 on Monday - Friday. You can find more information about the New York firm at diamondwealthmgt.com/.