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Updated on Friday, June 4, 2021
With just four investment advisors in its office in Kingston, New Jersey, Global Wealth Management is a small, independently owned financial advisory firm. This fee-only operation offers holistic financial planning to all of its investment management clients, most of whom are high net worth investors.
The bottom line: Global Wealth Management is a small investment firm with just one office in New Jersey that works primarily with wealthy clients but serves non-high net worth clients well.
- Creates customized investment plans
- Includes holistic financial planning services
- Investment planning centered around low-cost funds
|Assets under management: $285,710,124|
|Minimum investment: Typically $500,000|
|Individual investor to advisor ratio: 52:1|
|Fee structure: A percentage of AUM|
|Headquarters: 4428 Route 27, Bldg. C, Suite 2, P.O. Box 522, Kingston, NJ 08528|
All information included in this profile is accurate as of May 21, 2021. For more information, please consult Global Wealth Management’s website.
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Overview of Global Wealth Management
Global Wealth Management is a successor to a financial institution that has changed names and ownership several times over the past four decades. Ram Kolluri, one of the original founders in 1983 of what was then called Individual Asset Planning Corporation, repurchased the firm, called Global Investment Management, Inc., in 2010 and reorganized it as Global Investment Management, LLC. In 2015, he changed the name to Global Wealth Management.
In 2017, Kolluri sold his majority ownership stake to the Martin Tuchman Revocable Trust, which now owns 85% of the firm, and remains its principal investor with a 10% stake. President and Chief Investment Officer Sripat Pandey has a 5% stake. During his career in the shipping industry, Martin Tuchman co-founded multiple companies, selling two with his partner for $1 billion in 2007. He is now the chairman and CEO of the Tuchman Group, which invests primarily in real estate, banking and international shipping.
Global Wealth Management has four employees, all of whom perform investment advisory functions. Two of them are certified financial planners (CFPs).
A look at the founder of Global Wealth Management
Kolluri, one of the firm’s original founders, previously wrote a weekly column for the Trenton Times, called The Market View. He has also been quoted in publications including The New York Times, the Wall Street Journal, Fortune and Businessweek. Additionally, he has appeared on networks including CNN, CNBC and Bloomberg Television. He is originally from India.
Global Wealth Management’s pros
- Financial planning included with investment management services: Global Wealth Management includes holistic financial planning as part of its investment management services.
- Competitive fees: Global Wealth Management’s fees are below the higher end of the industry average. Its fees start at a maximum of 1% for clients with up to $2 million under management and decrease thereafter for larger portfolios. For comparison, the standard annual fee among investment advisory firms ranges from 0.50% to 1.25% of assets under management.
- No disciplinary issues: Global Wealth Management does not have any disciplinary disclosures.
Global Wealth Management’s cons
- Limited geographic footprint: Given that the firm has only one office and a small staff, it may not be convenient for clients that aren’t located near its Kingston, New Jersey, office.
- Relatively high minimum investment: The firm has a typical minimum investment of $500,000, which is not as high as some firms but could be a bit hefty for smaller-time or beginning investors. Other firms offer lower minimums that may be more suitable for investors just starting out.
- Preferred brokers: Global Wealth Management has relationships with TD Ameritrade and Charles Schwab, and it may recommend that clients choose those brokerages as their custodian. While the firm does not receive compensation for sending clients to those brokerages, it may be possible for clients to buy their investments at a lower price elsewhere.
What types of clients does Global Wealth Management serve?
The bulk of Global Wealth Management’s clients are high net worth investors. The typical minimum account balance required for the firm’s investment management services is $500,000, however, and that is not a technically considered high net worth per the SEC, which defines a high net worth investor as someone with at least $750,000 under management or a net worth of at least $1.5 million.
Global Wealth Management also has non-high net worth clients as well as some institututional clients.
Services offered by Global Wealth Management
Global Wealth Management works with its clients to develop an individual investment policy statement. The firm then uses that statement to create and manage a portfolio on the client’s behalf. As part of the process, clients also receive comprehensive financial planning services.
The firm also offers advanced financial planning consultation services to private family offices and small businesses. It also provides pension consulting services to retirement plan sponsors.
Here is a full list of services offered by Global Wealth Management:
- Investment management
- Financial planning
- Income tax planning and management
- Cash flow forecasting
- Investment planning
- Education planning
- Retirement planning
- Trust and estate planning
- Business planning
- Charitable giving
- Risk management and insurance planning
- Advanced financial planning consultation services
- Pension consulting
How Global Wealth Management invests your money
Global Wealth Managers creates individual portfolios for each of its clients with a variety of asset classes, including:
- Individual U.S. and international stocks
- Bond exchange-traded funds (ETFs)
- Stock and bond mutual funds
- Money market funds
- Individual company stocks
- Structured notes
The firm relies mostly on low-cost mutual funds and ETFs, from TD Ameritrade or Charles Schwab, in order to achieve portfolio diversity. The firm creates financial plans and investment strategies for individual investors based on their unique needs.
Fees Global Wealth Management charges for its services
Global Wealth Management charges clients based on a percentage of assets under management for its investment management and holistic financial planning services. The rate charged depends on the client’s account balance, as outlined in the table below.
|Global Wealth Management’s fees for advisory services|
|Assets Under Management||Annual rates|
|Up to $2 million||1%|
|Next $3 million||0.75%|
|Next $5 million||0.50%|
|All relationships over $10 million (flat)||0.50%|
In addition, clients may have to pay brokerage commissions or other fees to cover the costs of transactions that the firm executes on their behalf.
Clients who use advanced financial planning services pay additional fees, either as a retainer or on an hourly basis. These fees will be laid out in the client’s contract.
Global Wealth Management disciplinary disclosures
Global Wealth Management currently has zero disciplinary disclosures. The SEC requires RIAs to report disciplinary disclosures on its Form ADV, paperwork that registered firms must file with the SEC. These include any regulatory actions, criminal charges or legal developments such as liens or civil judgments that have been taken against the firm.
For more information, you can go to the firm’s IAPD page.
Global Wealth Management onboarding process
Prospective clients can reach out to the firm the following ways:
- Filling out contact form provided on its website, which requests your name, email address, phone number and a brief note
- Calling the office at (609)-452-2929
- Emailing [email protected]
When discussing investment plans with clients, the firm goes over the following information:
- Financial objectives
- Risk tolerance
- Time horizon
- Liquidity preferences
- Tax situation
As part of its investment management service, Global Wealth Management also provides comprehensive financial planning services to clients. After a meeting in person or over the phone to collect information, a CFP creates an individual plan for clients, who can choose which aspects of the plan to put in place.
The firm provides a written report at the completion of each calendar quarter that details the following information for the client:
- Portfolio valuation
- Investment gains and losses
- Time weighted return (TWR) performance of the account
Where Global Wealth Management is located
The firm has jurisdiction in New Jersey, New York, Georgia, Pennsylvania and Virginia, but it has just one physical office, in Kingston, New Jersey.
Is Global Wealth Management right for you?
With just four employees, Global Wealth Management is a small firm that’s focused primarily on serving high net worth individuals. In addition to wealth management, clients receive holistic financial planning advice from the firm’s team of CFPs.
With a focus on long-term returns and low-cost funds, Global Wealth Management may be a good fit for clients who have at least $500,000 to invest, like the idea of working with a smaller firm and don’t want their wealth manager making frequent trades. However, be sure to research multiple firms to ensure you find the right advisor for you.
The “Find a Financial Advisor” links contained in this article will direct you to webpages devoted to MagnifyMoney Advisor (“MMA”). After completing a brief questionnaire, you will be matched with certain financial advisers who participate in MMA’s referral program, which may or may not include the investment advisers discussed.