Healthequity Advisors, LLC (Draper)

Name: Healthequity Advisors, LLC
Address: 15 West Scenic Pointe Drive, Draper, UT, 84020
Telephone: 801-727-1000

Healthequity Advisors, LLC is a large advisory firm based in Draper. It manages $364.21 million of regulatory assets for 50,705 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

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

Healthequity Advisors: assets under management

The assets under management (AUM) of Healthequity Advisors, LLC is $364.21 million. The firm's AUM has grown by 2750% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $199.27 million in discretionary accounts and $164.93 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $6.77 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $7.76 thousand.

Healthequity Advisors has custody of $364.21 million in cash and securities for 50,705 clients in total and its related person acts as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 100% of the total AUM.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Healthequity Advisors, 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 Healthequity Advisors serves?

The only and largest group of clients of Healthequity Advisors is individuals with 50,705 clients and $364.21 million of assets under management. Among the 7 most similar advisory firms, Healthequity Advisors has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $364.21 million for 50,705 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.

Healthequity Advisors doesn't advise any private funds.

Careers at Healthequity Advisors, LLC

The company employs 8 people that are either part- or full-time employees. 13 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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
Inc. Healthequity	Sole shareholder, manager	1 Dec 2012	75% - 100%	52-2383166
Jon Kessler	Member of the board of managers	1 Dec 2012	Other	6175026
Stephen Dale Neeleman	Member of the board of managers	1 Dec 2012	Other	6175029
James Rex Ivie	Chief compliance officer	1 Apr 2013	Other	5037555
Darcy Galen Mott	Member of the board of managers	1 Sep 2015	Other	6644054
Cordell Mclachlan Eggett	Director of finance	1 Oct 2015	Other	6583888
Lori Kaye Midgley	Chief compliance officer	1 Oct 2015	Other	6583712
Raynard Hill Davis	Chief compliance officer / director of regulatory services	1 Sep 2016	Other	6703142

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
L.P. Berkley Capital Investors	Owner	1 Oct 2006	25% - 50%	45-0499788

Based in Draper

The principal office where Healthequity Advisors, LLC performs its advisory services is located at 15 West Scenic Pointe Drive, Draper, UT 84020, 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 801-727-1000 or by fax 801-727-1005. The normal business hours are 9 am to 5 pm on Monday - Friday. You can find more information about the New York firm at healthequity.com.