Richmond, VA Office

HBW Advisory Services manages approximately $1.75 billion in client assets and provides discretionary and non‑discretionary asset management, financial planning, and consulting to a broad mix of individuals, families, charitable organizations, businesses, pension and profit‑sharing plans. The firm also delivers sub‑advisory and co‑advisor services and offers an online wrap‑fee portfolio option through Betterment Institutional, in addition to subscription services for company‑sponsored retirement plans.

HBW typically determines asset allocation and model recommendations using a risk‑tolerance questionnaire and places client assets with third‑party money managers (TPMMs) or sub‑advisers when appropriate; it emphasizes a blended approach that can combine tactical asset allocation, fixed income allocations, and multi‑manager diversification to seek downside protection. The firm monitors TPMMs and uses model portfolios, allows limited client restrictions, and provides periodic reviews and reporting; it also states it uses AI tools for operational efficiencies (not for selecting investments).

Compared with many enterprise peers, HBW’s client servicing model is notable for a high client load per advisor — roughly 13,779 clients served by 68 advisors (more than 200 clients per advisor) — and for its institutional and intermediary roles, including sub‑advisory arrangements (for example, with Midland National) and retirement‑plan subscription services. The firm’s mix of retail, charitable, and institutional relationships, plus its use of multi‑manager platforms and a wrap‑fee partnership with Betterment, differentiates its operating model from many firms that focus primarily on direct portfolio management.