New Market Wealth Management, LLC (Costa Mesa)

Name: New Market Wealth Management, LLC
Address: 695 Town Center Drive, Costa Mesa, CA, 92626
Telephone: 657-900-1899

New Market Wealth Management, LLC is a large advisory firm based in Costa Mesa. It manages $168.9 million of regulatory assets for 320 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of California and New York.

New Market Wealth Management 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 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

New Market Wealth Management: assets under management

The assets under management (AUM) of New Market Wealth Management, LLC is $168.9 million. The firm's AUM has grown by 69% since the beginning of its operation, and $4.64 million of the total AUM is attributable to clients outside of the United States.

The firm manages $160.37 million in discretionary accounts and $8.53 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $507.51 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.13 million.

New Market Wealth Management has custody of $53.7 million in cash and securities for 40 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 57% of the total AUM. The second-largest asset type is exchange traded securities, which make up 15% of the firm’s portfolio. Investments in cash and cash equivalents form 14% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay New Market Wealth Management, LLC for their services and products based on a percentage of assets under management. 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 New Market Wealth Management serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of New Market Wealth Management is high net worth individuals with 42 clients and $147.83 million of assets under management. Among the 12 most similar advisory firms, New Market Wealth Management has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $167.48 million for 69 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 3% of the firm’s clients are foreign persons or businesses.

New Market Wealth Management doesn't advise any private funds.

Careers at New Market Wealth Management, LLC

The company employs 6 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. 4 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 compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
The Deke Family Trust	Member	1 Jan 2014	50% - 75%	xxx-xx-xxxx
Kswhokie Llc	Member	1 Jan 2014	Other	38-3930012
Rewiii Llc	Member	1 Jan 2014	Other	46-5329206
Daryl Lee Deke	President, manager	1 Jan 2014	Other	1655492
Sherry Delaney Deke	Chief financial officer	1 Jan 2014	Other	2361477
Jennifer Baker Cook	Chief compliance officer	1 Mar 2015	Other	1243994
Cliffwater Llc	Member	1 Jul 2016	Other	132167

Indirect Owners

The SEC currently registers 4 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Stephen Lane Nesbitt	Member	1 Jun 2004	50% - 75%	1941499
Kathleen Kay Barchick	Member	1 Jun 2004	25% - 50%	4824379
Kelly Scott Woolwine	Trustee	1 Jan 2014	75% - 100%	1961526
Richard Ernest Woolwine	Trustee	1 Jan 2014	75% - 100%	6324590

Based in Costa Mesa

The principal office where New Market Wealth Management, LLC performs its advisory services is located at 695 Town Center Drive, Costa Mesa, CA 92626, 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 657-900-1899 or by fax 657-900-1898. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at newmarketwealth.com.