Avantra Family Wealth LLC (Mechanicsburg)

Name: Avantra Family Wealth LLC
Address: 110 Sterling Parkway, Mechanicsburg, PA, 17050
Telephone: (717) 276-1501

Avantra Family Wealth LLC is a large advisory firm based in Mechanicsburg. It manages $90.38 million of regulatory assets for 543 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdiction of Pennsylvania.

Avantra Family Wealth provides financial planning services, portfolio management for individuals and small businesses, 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.

Avantra Family Wealth: assets under management

The assets under management (AUM) of Avantra Family Wealth LLC is $90.38 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -14% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $90.38 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $166.44 thousand each.

Avantra Family Wealth has custody of $25.52 million in cash and securities for 15 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 46% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 39% of the firm’s portfolio. Investments in investment and business development companies form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Avantra Family Wealth LLC 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 Avantra Family Wealth serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Avantra Family Wealth is high net worth individuals with 21 clients and $59.84 million of assets under management. Among the 9 most similar advisory firms, Avantra Family Wealth has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $90.38 million for 142 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.

Avantra Family Wealth doesn't advise any private funds.

Careers at Avantra Family Wealth LLC

The company employs 8 people that are either part- or full-time employees. 50 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
Frank Robert Collins	Founding partner, senior family wealth advisor	1 Apr 2017	25% - 50%	703841
Kim Lee Kenawell Hoffecker	Founding partner, senior family wealth advisor	1 Jul 2017	50% - 75%	2681649
Wade Hoffman	Partner, chief compliance officer	1 Jul 2017	Other	2825341

Based in Mechanicsburg

The principal office where Avantra Family Wealth LLC performs its advisory services is located at 110 Sterling Parkway, Mechanicsburg, PA 17050, 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 (717) 276-1501. The normal business hours are by appointment on Monday - Friday. You can find more information about the New York firm at linkedin.com/company/11221057/.