Purpose Comprehensive Wealth Management, LLC

Background

Purpose Comprehensive Wealth Management, LLC (PCWM) is a fee-only, fiduciary wealth management firm dedicated to assisting clients in defining and achieving their financial goals. The firm's mission is to provide comprehensive financial planning and investment management services that inspire and enable clients to live their best lives. PCWM emphasizes a holistic approach, integrating various aspects of financial planning to deliver tailored solutions that align with each client's unique objectives.

Key Strategic Focus

PCWM's strategic focus centers on delivering personalized wealth management services, including:

Investment Management: Crafting and managing investment portfolios that reflect clients' risk tolerance and financial goals.

Retirement Planning: Developing strategies to ensure clients are well-prepared for retirement.

Tax Planning: Implementing tax-efficient strategies to optimize clients' financial positions.

Employee Benefits Consulting: Advising businesses on structuring employee benefits to attract and retain talent.

The firm targets high-net-worth individuals, retirees, and business owners, aiming to provide clear direction and a fiduciary approach to financial planning.

Financials and Funding

As of October 16, 2024, PCWM manages approximately $74.6 million in assets across 100 clients, with an average client balance of $746,000. The firm operates with a licensed staff of seven advisors, maintaining a 1:14 advisor-to-client ratio.

Leadership Team

PCWM's leadership comprises experienced professionals dedicated to client success:

Aaron Olson: Senior Wealth Manager and founding member, with a background in financial advising at institutions like USBancorp and Chase. He holds a degree in Interpersonal Communications from the University of Wisconsin - Parkside.

Troy Bystol: Senior Wealth Manager and Managing Partner, bringing nearly two decades of experience in wealth management, including roles at various banking institutions in Madison, Wisconsin.

Dustin Dupart: Wealth Manager with a degree in Business Administration from the University of Wisconsin - Green Bay and experience in transportation and logistics planning.

Christine Sharratt: Wealth Manager and University of Wisconsin - Madison graduate, known for her problem-led approach and client-focused solutions.

Mandi Landry: Wealth Advisor with a Bachelor's degree from the University of North Carolina - Chapel Hill and a decade of experience as a licensed Financial Advisor.

Todd Drangstveit: Portfolio Manager and Managing Partner, holding an MBA from Marquette University and currently enrolled in the Chartered Financial Analyst program.

Nicholas Henning: Relationship Manager with nearly a decade of experience as an Outreach Specialist and Veterans Service Representative for the Veteran’s Administration.

Competitor Profile

Market Insights and Dynamics

The global wealth management industry is projected to grow at an annual rate of 4.9% (CAGR 2020-2025), reaching $121.8 trillion by the end of 2025. This growth is driven by an increase in high-net-worth individuals and their rising wealth levels.

Competitor Analysis

The wealth management market is highly fragmented, with numerous small players. Major competitors include:

Wells Fargo & Company

JPMorgan Chase & Co.

Bank of America Corporation

Morgan Stanley

UBS Group AG

These firms offer a wide range of services and have significant market shares.

Strategic Collaborations and Partnerships

PCWM emphasizes a collaborative approach within its team, ensuring that clients benefit from a comprehensive and cohesive financial planning process. The firm's internal partnerships among wealth managers, advisors, and portfolio managers are designed to provide clients with well-rounded and personalized financial strategies.

Operational Insights

PCWM differentiates itself through a fiduciary approach, ensuring that clients' best interests are prioritized. The firm's fee-only structure eliminates potential conflicts of interest, fostering trust and transparency. By focusing on comprehensive wealth management, PCWM addresses various aspects of clients' financial lives, providing a holistic and personalized service.

Strategic Opportunities and Future Directions

PCWM is well-positioned to capitalize on the growing demand for personalized and comprehensive wealth management services. By leveraging its experienced team and client-centric approach, the firm aims to expand its client base and enhance service offerings. Embracing technological advancements and staying abreast of industry trends will be crucial for PCWM to maintain its competitive edge and continue delivering value to clients.