Sendero Wealth Management, LLC (San Antonio)

Name: Sendero Wealth Management, LLC
Address: 250 W. Nottingham, San Antonio, TX, 78209
Telephone: 210-805-0171

Sendero Wealth Management, LLC is a large advisory firm based in San Antonio. It manages $1.53 billion of regulatory assets for 1,031 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdiction of Texas.

Sendero Wealth Management provides portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, selection of other advisers, and educational seminars and workshops. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Sendero Wealth Management: assets under management

The assets under management (AUM) of Sendero Wealth Management, LLC is $1.53 billion. The firm's AUM has grown by 25% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $120.16 million in discretionary accounts and $1.41 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $467.56 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.82 million.

Investments

The firm invests in investment and business development companies the most. They account for 43% of the total AUM. The second-largest asset type is exchange traded securities, which make up 35% of the firm’s portfolio. Investments in cash and cash equivalents form 22% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Sendero Wealth Management, LLC for their services and products based on a percentage of assets under management. 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 Edward Austin Hart serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Edward Austin Hart is high net worth individuals with 201 clients and $1.14 billion of assets under management. Among the 11 most similar advisory firms, Sendero Wealth Management has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.53 billion for 272 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.

Sendero Wealth Management doesn't advise any private funds.

Careers at Sendero Wealth Management, LLC

The company employs 28 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 15 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Edward Austin Hart has been acting as President since 1 Aug 2017. Julie Johnson Lewis joined the executive team most recently as the Vice President, Chief Financial Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Frederick Warren Middleton	Member	1 May 2007	Other	333839
Scott Rogers Mcmillian	Managing member	1 May 2007	Other	2593578
Brenda Dyer Allen	Chief compliance officer	1 May 2007	Other	1246615
Lisa Gayle Kahn Smith	Chief compliance officer	1 Jan 2008	Other	2427440
Thomas Andrew Carter	Chief financial officer	1 Jan 2008	Other	2007181
Tara Danette Maxwell	Director of client service/hr-options principal	1 Jan 2008	Other	3008045
Fred W. Middleton Executor Estate Of Barbara L. Middleton	Trustee-principal	1 Aug 2008	25% - 50%	26-6569272
Estate Of Barbara L. Fred. W Middleton Ttee Middleton	Member	1 Aug 2008	Other	26-6569272
Lp Series 40 Llm Family Investments	Member	1 Apr 2012	Other	45-5172958
Llc Sendero Partners	Sole member	1 Aug 2012	75% - 100%	45-5117752
Edward Austin Hart	President	1 Aug 2017	Other	2215591
Elizabeth Flavin Crawford	Chief executive officer	1 Aug 2017	Other	3235803
Julie Johnson Lewis	Vice president, chief financial officer	1 Aug 2017	Other	4344743

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Scott Rogers Mcmillian	Member	1 Apr 2012	25% - 50%	2593578

Based in San Antonio

The principal office where Sendero Wealth Management, LLC performs its advisory services is located at 250 W. Nottingham, San Antonio, TX 78209, 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 210-805-0171 or by fax 210-805-0577. The normal business hours are 8:30 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at sendero.com.