Monument Group Wealth Advisors, LLC (Concord)

Name: Monument Group Wealth Advisors, LLC
Address: 801 Main Street, Concord, MA, 01742
Telephone: 978-369-7705

Monument Group Wealth Advisors, LLC is a large advisory firm based in Concord. It manages $276.91 million of regulatory assets for 294 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Massachusetts, New Hampshire, and Texas.

Monument Group Wealth Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Monument Group Wealth Advisors: assets under management

The assets under management (AUM) of Monument Group Wealth Advisors, LLC is $276.91 million. The firm's AUM has grown by 30% since the beginning of its operation, and $7.13 million of the total AUM is attributable to clients outside of the United States.

The firm manages $271.8 million in discretionary accounts and $5.11 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $930.82 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.55 million.

Monument Group Wealth Advisors has custody of $56.34 million in cash and securities for 33 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 83% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 8% of the firm’s portfolio. Investments in state and local bonds form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Monument Group Wealth Advisors, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Byron Ewart Woodman serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Byron Ewart Woodman is high net worth individuals with 79 clients and $272.27 million of assets under management. Among the 8 most similar advisory firms, Monument Group Wealth Advisors has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $276.91 million for 97 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.

Monument Group Wealth Advisors doesn't advise any private funds.

Careers at Monument Group Wealth Advisors, LLC

The company employs 4 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. 2 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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.

Byron Ewart Woodman has been acting as President since 1 Feb 2001. 2005 The Lee Christopher Mcgowan 2005 Trust Dated August 5 joined the executive team most recently as the Member.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Byron Ewart Woodman	President	1 Feb 2001	75% - 100%	4385779
Lee Christopher Mcgowan	Managing director and chief compliance officer	1 Jul 2013	Other	3070341
The Byron Ewart Woodman Trust Of 1992	Owner	1 Jun 2015	75% - 100%	xxx-xx-xxxx
2005 The Lee Christopher Mcgowan 2005 Trust Dated August 5	Member	1 Jan 2017	Other	xxx-xx-xxxx

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Byron Ewart Woodman	Trustee	1 Jan 1992	75% - 100%	4385779
Lee Christopher Mcgowan	Trustee	1 Aug 2005	75% - 100%	3070341

Based in Concord

The principal office where Monument Group Wealth Advisors, LLC performs its advisory services is located at 801 Main Street, Concord, MA 01742, 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 978-369-7705 or by fax 978-287-4208. The normal business hours are 9:00am to 5:00pm on Monday - Friday. You can find more information about the New York firm at monumentgroupwealth.com/.