Burke & Herbert Wealth Services provides financial planning, portfolio management for individuals and small businesses, and pension consulting.
Burke & Herbert Wealth Services reports 237 clients. They include 184 individual clients and 53 high-net-worth individuals. Of its assets, 98.3% ($153M across 535 accounts) are managed with discretion; $2.64M across 6 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 78% | 31% |
| High-net-worth individuals | 22% | 67% |
| Charitable organizations | Fewer than 5 | 1% |
| Corporations and other businesses | Fewer than 5 | 1% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 184 | $47.6M | 30.5% | $259K |
| High-net-worth individuals | 53 | $105M | 67.2% | $1.98M |
| Charitable organizations | Fewer than 5 | $1.83M | 1.2% | — |
| Corporations and other businesses | Fewer than 5 | $1.65M | 1.1% | — |
| Total | 237 | $156M | 100% | — |
- Clients
- 184
- Regulatory AUM
- $47.6M
- AUM share
- 30.5%
- Avg. per client
- $259K
- Clients
- 53
- Regulatory AUM
- $105M
- AUM share
- 67.2%
- Avg. per client
- $1.98M
- Clients
- Fewer than 5
- Regulatory AUM
- $1.83M
- AUM share
- 1.2%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $1.65M
- AUM share
- 1.1%
- Avg. per client
- —
Total
- Clients
- 237
- Regulatory AUM
- $156M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Burke & Herbert Wealth Services charges 1.00% a year for its Investment Management. The fee is billed in arrears, is negotiable and requires an account of at least $100,000. The brochure also prices 2 other services, listed under fee details.
Fee details and sources
Other fees
- Consulting Services
- Consulting is billed hourly at $200 or as a fixed fee between $750 and $5,000; fees are negotiable.
- Financial Planning
- One-time financial planning is billed hourly at $200. Ongoing planning is an annual retainer, negotiable, billed monthly, quarterly or annually.
Burke & Herbert Financial owns 75% or more of Burke & Herbert Wealth Services. The leadership team of Burke & Herbert Wealth Services includes President James Mullins. It has 4 employees, 2 of them in advisory roles.
Leadership
- James MullinsChief Compliance Officer, Senior Vice President
- Shannon RowanPresident
Investment adviser representatives
2 representatives listed in the SEC register as of 9 October 2026.
Staff
- 4 employees
- 2 in advisory functions
- 2 state-registered reps
- Owns 75% or more of Burke & Herbert Wealth Services, LLC
Burke & Herbert Financial
Control person · since September 2025
- Owns 75% or more of Burke & Herbert Wealth Services, LLC
Burke & Herbert Financial Services Corp.
Control person · since September 2025
Besides its headquarters, Burke & Herbert Wealth Services has 2 offices, with 3 listed addresses in Virginia.
Virginia · 3 listed addresses
- 100 S. Fairfax Street, AlexandriaHQ
- 131 W. Davis Street, Culpeper
- 608 Westwood Office Park, Fredericksburg
Contact and registration details
- Legal name
- Burke & Herbert Wealth Services, LLC
- Headquarters
- 100 S. Fairfax Street, Alexandria, VA 22314
- Website
- piedmontwm.com
- Phone
- 703-518-8361
- SEC file
- 801-135403
- Structure
- Virginia LLC
- Fiscal year end
- December
Burke & Herbert Wealth Services uses Charles Schwab ($155M) as custodian for its separately managed accounts. Burke & Herbert Wealth Services does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $155M100%
At year end, Burke & Herbert Wealth Services’ separately managed accounts were mostly in funds (68%) and bonds (18%).
What the accounts hold
- Stocks13%
- Funds68%
- Registered funds67%
- Pooled vehicles1%
- Bonds18%
- Cash2%
How many clients does Burke & Herbert Wealth Services have?
Burke & Herbert Wealth Services has 237 clients and manages $156 million for them, as of April 2026. They include 184 individual clients and 53 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 22 April 2026
What services does Burke & Herbert Wealth Services offer?
Burke & Herbert Wealth Services provides financial planning, portfolio management for individuals and small businesses, and pension consulting.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Burke & Herbert Wealth Services charge?
Burke & Herbert Wealth Services charges 1.00% a year for its Investment Management. The fee is billed in arrears, is negotiable and requires an account of at least $100,000.
Which custodians does Burke & Herbert Wealth Services use?
Burke & Herbert Wealth Services’ separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $155M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 22 April 2026
How many financial advisors does Burke & Herbert Wealth Services have?
Burke & Herbert Wealth Services has 2 investment adviser representatives registered with state securities authorities, out of 4 employees, and 2 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Burke & Herbert Wealth Services invest in?
At the end of its last fiscal year, Burke & Herbert Wealth Services’ separately managed accounts held 67% registered funds (mutual funds, ETFs, BDCs), 18% U.S. government and agency bonds, 13% exchange-traded equities, 2% cash and equivalents and 1% pooled vehicles (private funds and similar).
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Does Burke & Herbert Wealth Services have a minimum investment?
Yes, Burke & Herbert Wealth Services’ minimum account size for its Investment Management is $100K.
Who owns Burke & Herbert Wealth Services?
Burke & Herbert Wealth Services’ direct owners are Burke & Herbert Financial (75% or more) and Burke & Herbert Financial Services Corp. (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 22 April 2026
How does Burke & Herbert Wealth Services get paid?
Burke & Herbert Wealth Services is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is Burke & Herbert Wealth Services registered with the SEC?
Yes, Burke & Herbert Wealth Services has been registered with the SEC as an investment adviser since 1 January 2026. Its CRD number is 340285 and its SEC file number is 801-135403.
Source: Form ADV Part 1A, Item 1, filed 22 April 2026; IAPD firm record
How do I contact Burke & Herbert Wealth Services?
Burke & Herbert Wealth Services’ main office is at 100 S. Fairfax Street, Alexandria, VA 22314. Its phone number is 703-518-8361. Its website is piedmontwm.com.