IHT Wealth Management is a Chicago-based firm with many offices and affiliates located throughout the country. The full-service firm provides financial planning and wealth management services, primarily to individuals, including those who are high net worth individuals. Its team of over 160 advisors currently oversees more than $3.5 billion in assets under management (AUM).
The bottom line: IHT Wealth Management has several locations across the country and no investment minimums, making it readily accessible, though its fees are on the higher end.
|Assets under management: $3,544,895,360|
|Minimum investment: None|
|Individual investor to advisor ratio: 92:1|
|Fee structure: A percentage of AUM, hourly charges, other (financial planning fees)|
|Headquarters: 123 N. Wacker Drive, Suite 2300
Chicago, IL 60606
All information included in this profile is accurate as of February 25, 2022. For more information, please consult IHT Wealth Management’s website.
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Founded in 2014, IHT Wealth Management is a Chicago-based financial services firm that offers investment advice and money management services. It is principally owned by founder and president Steven J. Dudash, a former Merrill Lynch financial advisor. The firm has grown quickly since its founding, often by acquiring the firms of retiring advisors.
The firm has roughly 220 employees, more than 160 of whom serve as investment advisors. Many of IHT Wealth Management’s advisors hold designations such as CFP and CRPC. Its team of advisors includes around 200 registered representatives of broker-dealers and six licensed insurance agents.
Steven Dudash began his career as a financial advisor in the 1990s, and founded IHT Wealth Management after his time at Merrill Lynch. He holds the CFP and CRPC designations.
Dudash has appeared on CNBC, Fox Business and Bloomberg, and written for Forbes, Investment News and Financial Advisor magazine. Additionally, he’s frequently quoted in publications such as The Wall Street Journal.
The vast majority of IHT Wealth Management’s clients are non-high net worth individuals. (For reference, the Securities and Exchange Commission (SEC) defines high net worth individuals as those with at least $750,000 in assets under management or a net worth of at least $1.5 million.)
With no minimum account balance and a broad geographic footprint, the firm is primed to serve beginner investors who don’t have a lot of money, though it does also serve a large number of high net worth individuals.
IHT Wealth Management works with clients to evaluate their portfolio and make personalized investment recommendations based on their holistic financial situation. The firm then executes the strategy on behalf of the client. Asset management services are offered on a discretionary basis, meaning that managers make all decisions to buy, sell or hold securities without having to consult with the client.
IHT Wealth Management also provides financial planning services, for a separate fee, to clients who request them.
Here is a full list of services offered by the firm:
IHT Wealth Management uses several types of analysis to choose investments for its clients’ portfolios based on research and data. The methods the firm uses include:
The firm uses these strategies to create a portfolio for its clients, based on that client’s financial situation and goals. These portfolios may be based on one of IHT Wealth Management’s model portfolios, which range from conservative to more aggressive in terms of risk level, as outlined in the table below:
|IHT Wealth Management Model Portfolios|
|IHT Small Account Managed Model Portfolio||Diversified portfolio of stocks, ETFs and mutual funds; aims for low turnover to provide adequate equity exposure for smaller accounts|
|IHT Traditional Taxable Managed Model Portfolio||Balanced portfolio of growth and value equity securities and fixed income (no municipal bonds) focused on stable growth over the long term; may use foreign investments|
|IHT Taxable Tax Efficient Managed Model Portfolio||Sector-based strategy intended to achieve long-term growth while taking advantage of long-term taxable gain treatment|
|IHT America Centric Managed Model Portfolio||Domestic-focused balanced strategy designed to achieve stable growth through a U.S.-based focus|
While the holdings of individual portfolios vary, they generally contain a diversified mix of investments, which the firm believes is key to creating the best outcome. In general, the firm strives to buy quality stocks that are not currently in favor.
For advisory services, clients pay IHT Wealth Management a percentage of their assets under management, with the annual rate ranging up to 3%. Those with smaller accounts may pay higher fees. In some cases, a flat fee may be charged instead. Advisors negotiate fees directly with clients, and may recommend both wrap-fee programs — meaning that clients won’t see additional charges for individual transactions within their account — and non-wrap fees programs.
For financial planning services, clients pay hourly fees, negotiated directly with advisors, that range from $250 to $500, depending on the complexity of the plan. Clients may pay a 50% deposit upfront for the plan, based on the estimated time necessary for completion.
Further, clients may incur investment-related costs that are separate from the advisory fees the firm charges. This may include fees and expenses charged by funds, separate account managers, private placement, pooled investment vehicles, broker-dealers and custodians retained by clients.
IHT Wealth Management does not have any recent disciplinary disclosures on its record. All SEC- registered firms must report any disciplinary disclosures on their Form ADV, documents that they file with the SEC. Disclosures include any regulatory actions, criminal charges or legal development, such as liens or civil judgments, taken against the firm, its employees or its affiliates.
For more information on the firm, you can go to its Investment Adviser Public Disclosure (IAPD) page.
IHT Wealth Management has 37 locations in total. The firm lists offices in the following states:
Because it has experienced advisors on staff, no minimum account balance requirement and a fairly broad geographic footprint, IHT Wealth Management can serve the needs of a range of clients.
Keep in mind, however, that many of its advisors are also licensed insurance agents or dually registered as broker-dealers, so they may have personal financial incentives to make certain recommendations. Advisors negotiate their own fees directly with clients and these rates typically include transaction costs, but the firm’s fees may be higher than the industry average, especially for clients with smaller account balances.
Before choosing an advisor to work with, make sure to research multiple firms to ensure you find the right advisor for you.
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