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Urban Wealth Management
Mike Hennessy launched Urban Wealth Management in 2012, establishing the firm as a registered investment advisor in El Segundo, California. The firm's founding...
Urban Wealth Management
Mike Hennessy launched Urban Wealth Management in 2012, establishing the firm as a registered investment advisor in El Segundo, California. The firm's founding coincided with a broader industry shift toward fee-only fiduciary advice, a structure that legally binds Urban Wealth Management to prioritize client interests over product sales. The firm's investment strategy centers on discretionary portfolio management built around modern portfolio theory. Urban Wealth Management constructs client portfolios using low-cost exchange-traded funds, individual stocks, and bonds. The firm does not take custody of client assets; Charles Schwab serves as the primary custodian. Asset allocation typically spans US large-cap equities, international developed-market stocks, and investment-grade fixed income, adjusted for client-specific liquidity needs and tax considerations. Real estate exposure appears through publicly traded REITs rather than direct property investments. Urban Wealth Management operates as a lean practice in Southern California's South Bay region. The firm's SEC Form ADV indicates it manages assets for individuals, high-net-worth individuals, pension and profit-sharing plans, trusts, and estates. The firm maintains a minimum account size that screens for clients with sufficient asset bases to warrant comprehensive planning. Mike Hennessy holds the Certified Financial Planner designation and leads a team that integrates tax strategy, retirement modeling, and estate planning with ongoing portfolio oversight. The firm's structural differentiator is its independence. Urban Wealth Management is not owned by a bank, insurance company, or private equity aggregator. This independence means the firm negotiates its own technology and custody relationships — a double-edged sword that yields flexibility in tool selection but limits the balance-sheet resources available to larger roll-up RIAs. For succession, the firm's continuity plan relies on a pre-designated emergency backup advisor rather than a junior partner track, a common arrangement for practices of this scale.
General information
Firm type
Bank / Wealth / Trust
Year founded
2012
AUM
Undisclosed
Location
Region
North America
Country
United States
City
El Segundo
Corporate office
El Segundo, CA, United States
Principals
Mike Hennessy
Founder & Managing Partner
Sector focus
Frequently asked questions
Is Urban Wealth Management a fiduciary?
Yes. As a registered investment advisor regulated by the SEC, Urban Wealth Management operates under a fiduciary duty that requires it to act in clients' best interests. This contrasts with broker-dealers, who operate under a suitability standard. The firm explicitly markets itself as fee-only, accepting no commissions from product sales, which eliminates a common conflict of interest.
Who provides custody for client assets at Urban Wealth Management?
Charles Schwab & Co. serves as the primary qualified custodian for client assets managed by Urban Wealth Management. The firm does not take physical or legal custody of client funds. This separation — advisor manages, third party safeguards — is standard for independent RIAs and provides an additional layer of client protection, with Schwab sending account statements directly to clients.
What is the minimum portfolio size Urban Wealth Management requires?
Urban Wealth Management imposes a minimum account size, a common practice among independent RIAs to ensure that clients receive the full scope of the firm's financial planning and investment management services. The exact threshold is disclosed in the firm's Form ADV Part 2, available to prospective clients. This minimum indicates the firm targets mass-affluent to high-net-worth households rather than entry-level retail accounts.
How does Urban Wealth Management construct client portfolios?
The firm applies core tenants of modern portfolio theory, constructing multi-asset-class portfolios tailored to individual client goals, risk tolerance, and time horizon. Portfolios typically include allocations to US large-cap equities, international developed market equities, and investment-grade fixed income. The firm primarily uses low-cost ETFs and individual securities, and includes publicly traded REITs for real asset exposure.
Who runs investment strategy at Urban Wealth Management?
Founder Mike Hennessy leads investment strategy and portfolio management for the firm. He holds the Certified Financial Planner (CFP) designation, indicating competency in investment planning, tax strategy, retirement planning, and estate considerations. The firm's structure, with a single named managing partner, suggests a centralized investment decision-making process.
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