Loveless Wealth Management, LLC (Billings)

Name: Loveless Wealth Management, LLC
Address: 2615 Saint Johns Ave., Billings, MT, 59102
Telephone: 406-656-9212

Loveless Wealth Management, LLC is a large advisory firm based in Billings. It manages $139.16 million of regulatory assets for 568 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of Montana, Nebraska, North Dakota, South Dakota, and Texas.

Loveless Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and educational seminars and workshops. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Loveless Wealth Management: assets under management

The assets under management (AUM) of Loveless Wealth Management, LLC is $139.16 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 117% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $139.16 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $245 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 61% of the total AUM. The second-largest asset type is investment and business development companies, which make up 36% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Loveless Wealth Management, LLC for their services and products based on a percentage of assets under management and hourly charges. 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 Loveless Wealth Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Loveless Wealth Management is high net worth individuals with 54 clients and $97 million of assets under management. Among the 9 most similar advisory firms, Loveless Wealth Management has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $139.16 million for 257 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.

Loveless Wealth Management doesn't advise any private funds.

Careers at Loveless Wealth Management, LLC

The company employs 4 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
Donald Steven Loveless	Owner & chief compliance officer	1 Sep 2004	75% - 100%	1155886
Inc B36	Sub s corp, donald s. loveless owns 100% of the shares	1 Dec 2012	Other	46-1723183
Brian Suskevich	Chief operations officer	1 Jul 2016	Other	6087473
Maribeth A. Rector	Chief financial officer	1 Jul 2016	Other	6602026

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Donald Steven Loveless	President & chairman of the board	1 Dec 2012	75% - 100%	1155886

Based in Billings

The principal office where Loveless Wealth Management, LLC performs its advisory services is located at 2615 Saint Johns Ave., Billings, MT 59102, 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 406-656-9212 or by fax 406-652-1065. The normal business hours are 8-5 on Monday - Friday. You can find more information about the New York firm at loveless-wealth.com.