First Oak Wealth Management, LLC (Raleigh)

Name: First Oak Wealth Management, LLC
Address: 8341 Bandford Way, Raleigh, NC, 27615
Telephone: 919-421-1555

First Oak Wealth Management, LLC is a large advisory firm based in Raleigh. It manages $151.72 million of regulatory assets for 576 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdiction of North Carolina.

First Oak 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 less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

First Oak Wealth Management: assets under management

The assets under management (AUM) of First Oak Wealth Management, LLC is $151.72 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 5% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $151.72 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $263.41 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 75% 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 7% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay First Oak 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 First Oak Wealth Management serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of First Oak Wealth Management is high net worth individuals with 50 clients and $70.17 million of assets under management. Among the 12 most similar advisory firms, First Oak Wealth Management has the 5th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $151.72 million for 176 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.

First Oak Wealth Management doesn't advise any private funds.

Careers at First Oak Wealth Management, LLC

The company employs 4 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. 3 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 compensates 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
Airis Alexander Abolins	Managing member	1 Jan 2017	Other	2891011
Ryan Paul Thomsen	Managing member, chief compliance officer	1 Jan 2017	75% - 100%	5438732

Based in Raleigh

The principal office where First Oak Wealth Management, LLC performs its advisory services is located at 8341 Bandford Way, Raleigh, NC 27615, 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 919-421-1555. The normal business hours are 9:00am-5:00pm on Monday - Friday. You can find more information about the New York firm at firstoak.com/.