Widmann Financial Services, Inc. (Bowie)

Name: Widmann Financial Services, Inc.
Address: 4321 Northview Drive, Bowie, MD, 20716
Telephone: 301-262-2919

Widmann Financial Services, Inc. is a large advisory firm based in Bowie. It manages $167.7 million of regulatory assets for 317 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Delaware, Florida, Maryland, and 3 other states.

Widmann Financial Services provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and educational seminars and workshops. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Widmann Financial Services: assets under management

The assets under management (AUM) of Widmann Financial Services, Inc. is $167.7 million. The firm's AUM has grown by 19% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $167.2 million in discretionary accounts and $500 thousand in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $529.11 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $500 thousand.

Widmann Financial Services has custody of $22.5 million in cash and securities for 23 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 66% of the total AUM. The second-largest asset type is exchange traded securities, which make up 26% of the firm’s portfolio. Investments in cash and cash equivalents form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Widmann Financial Services, Inc. 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 Widmann Financial Services serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Widmann Financial Services is high net worth individuals with 50 clients and $87.3 million of assets under management. Among the 7 most similar advisory firms, Widmann Financial Services has the 2nd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $166.9 million for 313 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.

Widmann Financial Services doesn't advise any private funds.

Careers at Widmann Financial Services, Inc.

The company employs 9 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 4 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
Arden Thomas Widmann	President, chief compliance officer, director	1 Nov 1989	75% - 100%	1891122
Laura Ann Ruiz	Director of investment services; compliance manager; director	1 Jan 2009	Other	4035961

Based in Bowie

The principal office where Widmann Financial Services, Inc. performs its advisory services is located at 4321 Northview Drive, Bowie, MD 20716, 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 301-262-2919 or by fax 301-262-3481. The normal business hours are 9 am to 5 pm on Monday - Friday. You can find more information about the New York firm at widmannfinancial.com.