Michael Spencer
Michael Spencer is a ChFC-designated registered investment advisor at Fitzwilliams Wealth Management INC., based in Virginia Beach, VA, with 41 years of industry experience. Michael operates on a fee-only basis, meaning they do not earn commissions from product sales. Their practice areas include Charitable Giving, Education Planning, Estate Planning, High Net Worth, and 4 more. Their firm serves 428 clients with $110M in assets under management.
Compensation
Firm Size
Number of Clients
Average Client Portfolio
Assets Under Management
Fee Structure
Portfolio-Based Fees (Tiered)
| Portfolio Value | Annual Fee |
|---|---|
| Up to $2.5M | 2.00% |
| $2.5M - $5.0M | 1.50% |
| $5.0M - $10.0M | 1.00% |
| $10M+ | 0.80% |
Fee schedule is not negotiable, though Fitzwilliams Wealth Management reserves the right to reduce fees for special circumstances. Total fees charged to clients will not exceed 2% of the assets under management when a Sub-Advisor is utilized.
Fee Estimator
Location
Virginia Beach, VA
Get directionsHistory
Regulatory History (2)
Customer Dispute
December 2004Customer Dispute
May 1999Other Business ActivitiesSells Insurance
Michael owns 100% of MHS Enterprises T/A Spencer Financial Services Inc., an insurance brokerage dealing with life, health, and annuity products, dedicating about half of his time. He is also a trustee of an irrevocable life insurance trust, handling administrative tasks related to premium payments.
Employment History
Current Registrations
Fitzwilliams Wealth Management INC.
Previous Registrations
Tucker Asset Management LLC
Alphastar Capital Management, LLC
Spc
Parkland Securities, LLCBroker
Woodbury Financial Services, INC.
Woodbury Financial Services, INC.Broker
Royal Alliance Associates, INC.Broker
Lincoln Financial Advisors CorporationBroker
The Lincoln National Life Insurance CompanyBroker
Lincoln National Pension Insurance CompanyBroker
Integrated Resources Equity CorporationBroker
Life of Virginia Security Sales, LTD.Broker
State Registrations2 states
You can work with an advisor not registered in your state. Most advisors can legally serve a small number of clients across state lines without registering.