Penny Lane Wealth Management, LLC logo

Penny Lane Wealth Management, LLC

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Client assets under management

$18,896,134

Clients

40

23% high-net-worth

Advisors

2

of 3 employees

Firm type

Supported

1-4 advisors or >$200M in AUM

Clients per advisor

20

Low

Average account size

$472,403

About

Penny Lane Wealth Management, LLC provides advisory services to individual and high-net-worth clients and reports roughly $18.9 million in assets under management across about 40 client relationships with two advisors. The firm typically charges percentage-of-AUM fees and also makes available insurance products through an affiliated insurance entity.

The firm’s advisory work is conducted primarily on a non-discretionary basis, so clients generally retain final decision-making authority over transactions rather than delegating full trading discretion. The firm’s brochure also indicates it does not provide portfolio management services for individual clients, so its client work is oriented toward advice, planning, and client-directed implementation.

Penny Lane is affiliated with an insurance company and with other investment advisers, and at least one advisor is licensed to sell insurance through the affiliated insurance business. The brochure discloses that advisors may receive commissions for insurance sales and may receive up to a ten-percent referral fee from the affiliated insurance firm, and describes disclosure and fiduciary processes the firm uses to address those conflicts.

Client services

Financial planning Portfolio management Selection of other advisers

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Fee options

Commissions

Commissions on insurance sales and investment advisory representation are received by Henry Webb; includes potential referral fees.

Main office location

Penny Lane Wealth Management, LLC

1804 W. Union Ave., Suite 202

Tacoma WA 98405, United States

Number of offices

1

Most active in

Washington

Disclosures

Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.

Business activities & affiliations

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