Opulent Wealth is a registered investment advisor located in Richmond, Virginia, founded in 2024 and led by Peter M. Byrd. The firm offers comprehensive wealth management services that combine ongoing portfolio management with personalized financial planning. Opulent Wealth assists clients with a wide range of topics, including cash flow and budgeting, college savings, retirement projections, risk management, tax analysis strategies, estate planning, social security optimization, divorce planning, and special needs planning. For small businesses, Opulent Wealth provides consultation on employee retention, retirement strategies, and pension plan support under federal retirement plan rules. The firm primarily utilizes a core-and-satellite investment strategy, blending passive index funds with active investments tailored to each client's risk tolerance and time horizon. Opulent Wealth operates as a legally required fiduciary, meaning they are bound to act in their clients' best interests at all times, and manages client accounts on both a discretionary and non-discretionary basis through qualified custodians such as Charles Schwab.
Fee Structure
Portfolio-Based Fees (Tiered)
| Portfolio Value | Annual Fee |
|---|---|
| Up to $1.5M | 1.00% |
| $1.5M - $7.5M | 0.50% |
| $7.5M+ | 0.30% |
Fees are negotiable and may be waived or discounted for firm associates and their family members.