# Waterstone Wealth Advisors

Waterstone Wealth Advisors is a Bank / Wealth / Trust based in Somerset, United States.

## Overview

- **Organization type:** Bank / Wealth / Trust
- **Headquarters:** Somerset, United States
- **Region:** North America
- **Address:** Somerset, KY, United States
- **Founded:** 2006
- **Assets under management:** Undisclosed
- **Website:** wwallc.net
- **LinkedIn:** https://www.linkedin.com/company/waterstone-wealth-advisors-llc

## Regulatory record

- **CRD number:** 139265
- **SEC file number:** 801-113302
- **Registration status:** APPROVED
- **Latest Form ADV filing:** 2026-02-16T06:00:00.000Z
- **Reports private funds:** No
- **Private funds reported:** 0

## About

Waterstone Wealth Advisors opened in Somerset, Kentucky—a Lake Cumberland community better known for bass fishing than for trust companies—in 2006. Founder Craig B. Smith had previously built and led trust and wealth management divisions at regional lenders, most notably First & Farmers National Bank, where he grew assets under administration before spinning out an independent advisory. The firm serves approximately 130 client relationships, concentrated among southern Kentucky business owners, physicians, and second-generation family stewards who want a single advisor managing liquid portfolios alongside estate and tax planning. The firm runs discretionary equity and fixed-income portfolios directly in client accounts rather than outsourcing to third-party managers or allocating heavily to funds. Smith uses a fundamental, cash-flow-focused approach to stock selection, favoring companies with durable competitive positions and management teams with significant insider ownership. On the fixed-income side, the firm builds individual bond ladders—predominantly municipal bonds that carry tax advantages for Kentucky residents—and holds issues to maturity. A 2022 ADV filing update noted the firm offering advisory services to corporate retirement plans in addition to private wealth clients, signaling a measured expansion beyond its private-client core. Waterstone remains a compact operation with a reported team of about three to four professionals operating from a single location in Somerset. The firm has not disclosed AUM publicly, and it does not operate a philanthropic entity or an affiliated multi-family office vehicle. No material office expansion or named key hire has been reported in the last 24 months. The firm's structural differentiator is its regional concentration and product architecture. Many RIAs serving rural and micropolitan markets default to mutual-fund or ETF model portfolios because they scale more efficiently. Waterstone instead charges a fee on assets under management while doing individual security selection and tax-sensitive bond work in-house—a bundle that Sidney Kess's AICPA planning framework would recognize as a true integrated-advisory model. The firm's continuity risk is tied to Smith's generation; no public succession plan or named next-generation partner appears in regulatory filings or the firm's own materials.

## Questions

### What is Waterstone's fee structure?

The firm charges a fee based on a percentage of assets under management, a model disclosed in its Form ADV filings. Its value proposition explicitly bundles financial planning, estate planning review, and tax-aware portfolio management within that single asset-based fee rather than charging separate retainers or commissions. No wrap-fee program with an outside manager is listed, which aligns with the in-house direct-investment approach.

### What is Waterstone's geographic footprint?

The firm operates from a single office in Somerset, Kentucky, a micropolitan city on the Cumberland Plateau near Lake Cumberland. Its client relationships are understood to be concentrated in south-central Kentucky, drawn from the professional and business-owner communities within the region the firm has served since 2006. No additional offices or multi-state expansion are reported.

## Related profiles

- [WaterStone](https://altss.com/profile/waterstone)
- [Watlow Group Pension Plan](https://altss.com/profile/watlow-group-pension-plan)

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Updated: 2026-08-11T02:43:31.692Z

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