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Willner & Heller
David Willner and Jeffrey Heller established the firm in Encino, California in 2003 as a registered investment adviser built for direct client relationships.
Willner & Heller
David Willner and Jeffrey Heller established the firm in Encino, California in 2003 as a registered investment adviser built for direct client relationships. The shop emerged during a period of broker-dealer consolidation, choosing an independent RIA structure that aligns fees with fiduciary advice rather than transaction commissions. From its single San Fernando Valley location, the firm has maintained a deliberately narrow geographic focus, serving individuals and charitable entities across the Greater Los Angeles area. Willner & Heller operates as a discretionary wealth manager, constructing portfolios across public equities, fixed income, and alternative assets for a select base of high-net-worth families. The firm does not market proprietary funds or structured products; instead, it runs a manager-selection and asset-allocation process that draws on third-party institutional strategies. Its client mix includes philanthropic organizations, which adds a tax-aware and multi-horizon dimension to portfolio construction. While specific portfolio holdings are not publicly disclosed, the firm's ADV filing indicates it has authority to select broker-dealers and aggregate client orders, suggesting active trading discretion and a hands-on investment committee structure. Headquartered in Encino with no additional offices, the firm's compact footprint reflects a conscious choice to keep the advisor-to-client ratio intimate. The professional team size has not been publicly disclosed, but the firm's regulatory filings confirm it conducts investment advisory business as its primary activity, with no material sideline operations in insurance brokerage, tax preparation, or legal services. Unlike larger Southern California rivals that have absorbed smaller practices or launched trust-company affiliates, Willner & Heller appears to have maintained a clean, single-entity structure throughout its two-decade history — a governance choice that limits conflicts and keeps succession planning straightforward. Willner & Heller's structural differentiator lies in its simplicity. In an era of national RIA consolidators, private-equity-backed aggregators, and multi-family office platforms, the firm remains a partnership-model boutique with a single office, serving a concentrated client list directly. This architecture means no inter-office politics, no product-shelf pressure, and no external shareholders demanding growth metrics — a genuine rarity among established RIAs with over twenty years of operating history.
General information
Firm type
Bank / Wealth / Trust
Year founded
2003
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Encino
Corporate office
Encino, CA, United States
Frequently asked questions
Who runs investment decisions at Willner & Heller?
David Willner and Jeffrey Heller co-founded the firm in 2003 and remain the named principals. As a partnership-model RIA, both are presumed to sit on the investment committee, though the firm does not publicly delineate individual portfolio-manager responsibilities. Their regulatory filings indicate shared discretionary authority over client accounts, consistent with a co-CIO structure typical of small, founder-led wealth managers.
Is Willner & Heller structured as a single-family office or an RIA?
Willner & Heller is a registered investment adviser (RIA), not a family office. It serves multiple external clients — individuals, high-net-worth families, and charitable organizations — and charges asset-based fees under a fiduciary standard. The firm does not manage the capital of a single family, nor does it operate as a multi-family office platform.
Does Willner & Heller participate in fund commitments or only direct portfolios?
The firm constructs client portfolios using third-party investment strategies, implying it allocates to external managers and funds rather than building direct-company portfolios. Its regulatory filings confirm it does not sponsor its own mutual funds or private vehicles, positioning it as an allocator and manager-selector, not a direct investor.
What is the firm's geographic focus?
Willner & Heller operates from a single office in Encino, California, serving clients primarily in the Greater Los Angeles area. There is no public record of additional offices or a national advisory footprint, reinforcing its model as a concentrated, relationship-driven Southern California practice.
How is Willner & Heller compensated?
The firm charges asset-based advisory fees, consistent with its RIA structure. It does not earn transaction commissions or sell proprietary products, which aligns its revenue with portfolio performance and client retention rather than trading activity. Fee schedules are disclosed in the firm's Form ADV, available through the SEC's public database.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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