Rand Wealth, LLC (Baltimore)

Name: Rand Wealth, LLC
Address: One South Street, Baltimore, MD, 21202
Telephone: 410-454-2171

Rand Wealth, LLC is a large advisory firm based in Baltimore. It manages $1.26 billion of regulatory assets for 1,266 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of Arizona, California, Colorado, and 13 other states.

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

Rand Wealth: assets under management

The assets under management (AUM) of Rand Wealth, LLC is $1.26 billion. The firm's AUM has grown by 79% since the beginning of its operation, and $13.73 million of the total AUM is attributable to clients outside of the United States.

The firm manages $1.25 billion in discretionary accounts and $11.86 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $989.53 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.98 million.

Rand Wealth has custody of $932.2 million in cash and securities for 491 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 75% of the total AUM. The second-largest asset type is investment and business development companies, which make up 14% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

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

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Rand Wealth is high net worth individuals with 296 clients and $975.5 million of assets under management. Among the 6 most similar advisory firms, Rand Wealth has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.26 billion for 540 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.

Rand Wealth doesn't advise any private funds.

Careers at Rand Wealth, LLC

The company employs 12 people that are either part- or full-time employees. 58 percent of the employees work as investment advisers or researchers. 7 employees are registered as investment adviser representatives with the state securities authorities.

There are 3 people 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
Andrew Jerome Rand	Managing member, chief financial officer	1 May 2011	75% - 100%	2648600
David Robert Griffin	Secretary	1 Jul 2012	Other	6097893
James Daniel Nolan	Chief compliance officer	1 Feb 2015	Other	1710812
David Robert Griffin	Secretary	1 May 2017	Other	6097893
Harry Omealia	President and chief executive officer	1 Oct 2018	Other	3178194
Margaret Mary Pasquarella	Chief financial officer	1 Oct 2018	Other	1945650
Michael Patrick Scanlon	Chief compliance officer	1 Oct 2018	Other	3117555
Llc 1919 Investment Counsel	Sole member	1 Oct 2018	75% - 100%	26-0103189

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Stifel Financial Corp.	Sole member	1 Nov 2014	75% - 100%	43-1273600

Based in Baltimore

The principal office where Rand Wealth, LLC performs its advisory services is located at One South Street, Baltimore, MD 21202, 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 410-454-2171 or by fax 410-454-0248. The normal business hours are 8:30 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at randwealth.com.