Olympus Wealth Management, LLC (Cottonwood Heights)

Name: Olympus Wealth Management, LLC
Address: 6985 Union Park Center, Cottonwood Heights, UT, 84047
Telephone: 801-449-9600

Olympus Wealth Management, LLC is a large advisory firm based in Cottonwood Heights. It manages $173.15 million of regulatory assets for 193 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Idaho and Utah.

Olympus Wealth Management provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Olympus Wealth Management: assets under management

The assets under management (AUM) of Olympus Wealth Management, LLC is $173.15 million. The firm's AUM has grown by 27% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $161.19 million in discretionary accounts and $11.96 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.03 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $332.13 thousand.

Olympus Wealth Management has custody of $64.06 million in cash and securities for 27 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 74% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 8% of the firm’s portfolio. Investments in state and local bonds form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Olympus Wealth Management, 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 Olympus Wealth Management serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Olympus Wealth Management is high net worth individuals with 39 clients and $120.77 million of assets under management. Among the 9 most similar advisory firms, Olympus Wealth Management has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $173.15 million for 80 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.

Olympus Wealth Management doesn't advise any private funds.

Careers at Olympus Wealth Management, LLC

The company employs 5 people that are either part- or full-time employees. 80 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
Scott Stoddard Poelman	Managing member	1 Jan 2015	25% - 50%	5802068
Scott Aikele Bird	Managing member and chief compliance officer	1 Jan 2015	25% - 50%	5380581
Matthew Thomas Bloomkrull	Managing member	1 Jan 2015	25% - 50%	4255793
The Poelman Family Trust	Managing member	1 Apr 2015	25% - 50%	xxx-xx-xxxx
The Bird Family Trust	Managing member	1 Apr 2017	25% - 50%	xxx-xx-xxxx

Indirect Owners

The SEC currently registers 4 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Scott Stoddard Poelman	Trustee	1 Apr 2015	Other	5802068
Heidi Noel Poelman	Trustee	1 Apr 2015	Other	6845477
Scott Aikele Bird	Trustee	1 Apr 2017	Other	5380581
Julie Anne Bird	Trustee	1 Apr 2017	Other	6845476

Based in Cottonwood Heights

The principal office where Olympus Wealth Management, LLC performs its advisory services is located at 6985 Union Park Center, Cottonwood Heights, UT 84047, 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 801-449-9600 or by fax 801-449-9606. The normal business hours are by appointment only on Monday - Friday. You can find more information about the New York firm at olympuswealthmanagement.com.