Next Generation Wealth Management, Inc. (Milwaukee)


Next Generation Wealth Management, Inc. is a large advisory firm based in Milwaukee. It manages $307.34 million of regulatory assets for 907 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of California, Florida, Texas, and Wisconsin.

Next Generation Wealth Management provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and selection of other advisers. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Next Generation Wealth Management: assets under management

The assets under management (AUM) of Next Generation Wealth Management, Inc. is $307.34 million. The firm's AUM has grown by 735% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $304.29 million in discretionary accounts and $3.04 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $351.38 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $74.19 thousand.
Next Generation Wealth Management has custody of $140.3 million in cash and securities for 321 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 65% of the total AUM. The second-largest asset type is exchange traded securities, which make up 13% of the firm’s portfolio. Investments in cash and cash equivalents form 12% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Next Generation Wealth Management, 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 Next Generation Wealth Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Next Generation Wealth Management is high net worth individuals with 110 clients and $235.15 million of assets under management. Among the 11 most similar advisory firms, Next Generation Wealth Management has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $298.74 million for 277 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.

Next Generation Wealth Management doesn't advise any private funds.

Careers at Next Generation Wealth Management, Inc.

The company employs 5 people that are either part- or full-time employees. 80 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
David Arnold Braaten Co-founder 1 Jan 2005 50% - 75% 1991227
Jeffrey William Kralovec Chief compliance officer 1 Jun 2006 Other 4011612
David Alan Massart President & founding partner 1 Jan 2007 25% - 50% 2332208
Jennifer Marie Menden Vice president private client group 1 Dec 2008 Other 5652571
Peter Charles Jelacic Director of financial planning 1 Oct 2009 Other 1829282

Based in Milwaukee

The principal office where Next Generation Wealth Management, Inc. performs its advisory services is located at 10700 Research Drive, Milwaukee, WI 53226, which is also the mailing address of the firm. An additional office of the firm is in Mequon, WI. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 414-257-4248 or by fax 414-751-5180. The normal business hours are 8am-5pm on Monday - Friday. You can find more information about the New York firm at ngwealth.com.

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