Read & Powell Financial Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers.
Read & Powell Financial Services reports 530 clients. They include 473 individual clients, 56 high-net-worth individuals and 1 charitable organization. Of its assets, 100.0% ($160M across 642 accounts) are managed with discretion. A wrap fee program the firm both sponsors and manages holds $107M.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 89% | 37% |
| High-net-worth individuals | 11% | 60% |
| Charitable organizations | <1% | 4% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 473 | $58.3M | 36.5% | $123K |
| High-net-worth individuals | 56 | $95.1M | 59.6% | $1.7M |
| Charitable organizations | Fewer than 5 | $6.22M | 3.9% | $6.22M |
| Total | 530 | $160M | 100% | — |
- Clients
- 473
- Regulatory AUM
- $58.3M
- AUM share
- 36.5%
- Avg. per client
- $123K
- Clients
- 56
- Regulatory AUM
- $95.1M
- AUM share
- 59.6%
- Avg. per client
- $1.7M
- Clients
- Fewer than 5
- Regulatory AUM
- $6.22M
- AUM share
- 3.9%
- Avg. per client
- $6.22M
Total
- Clients
- 530
- Regulatory AUM
- $160M
- 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
Read & Powell Financial Services is paid through a percentage of assets under management and hourly charges. The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial Planning
- Billed hourly at the current rate of the person working on the account, generally $250 an hour, monthly in arrears on hours accrued.
Nick Konakis owns 50% to 75% of Read & Powell Financial Services. It has 3 employees.
Leadership
- Nick KonakisManaging Member
- Eric WisemanCCO
Investment adviser representatives
3 representatives listed in the SEC register as of 9 October 2026.
Staff
- 3 employees
- 3 in advisory functions
- 3 state-registered reps
- Owns 50% to 75% of Read & Powell Financial Services, LLC
Nick Konakis
Control person · since January 2014
- Owns 50% to 75% of Read & Powell Financial Services, LLC
Eric Wiseman LLC
Control person · since January 2021
- Owns 75% or more of Eric Wiseman LLC
Eric Wiseman
Control person · since January 2021
Read & Powell Financial Services’ regulatory assets grew from $112M (April 2021) to $160M (March 2026); clients were 530 in both filings and employees fell from 6 to 3.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $160M | 530 | 3 | 1 |
| March 2025 | $147M | 517 | 6 | 1 |
| March 2024 | $128M | 466 | 6 | 1 |
| March 2023 | $114M | 454 | 6 | 1 |
| May 2022 | $123M | 561 | 6 | 1 |
| April 2021 | $112M | 537 | 6 | 1 |
Besides its headquarters, Read & Powell Financial Services has 0 offices, with 1 listed address in Nevada.
Nevada · 1 listed address
- 491 5th Street, ElkoHQ
Contact and registration details
- Legal name
- Read & Powell Financial Services, LLC
- Headquarters
- 491 5th Street, Elko, NV 89801
- Website
- readandpowell.com
- Phone
- 775-738-4430
- SEC file
- 801-121309
- Structure
- Nevada LLC
- Fiscal year end
- December
Read & Powell Financial Services uses Fidelity ($160M) as custodian for its separately managed accounts. Read & Powell Financial Services does not have custody of client assets.
- FidelityNational Financial Services LLC · Boston, MA · $160M100%
At year end, Read & Powell Financial Services’ separately managed accounts were mostly in funds (56%) and stocks (27%).
What the accounts hold
- Stocks27%
- Funds56%
- Cash14%
Filed values cover 97%. The neutral 3% gap has no reported category.
How many clients does Read & Powell Financial Services have?
Read & Powell Financial Services has 530 clients and manages $160 million for them, as of March 2026. They include 473 individual clients, 56 high-net-worth individuals and 1 charitable organization.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 17 March 2026
What services does Read & Powell Financial Services offer?
Read & Powell Financial Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Read & Powell Financial Services use?
Read & Powell Financial Services’ separately managed account assets are held at National Financial Services LLC (Boston, MA), with $160M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 17 March 2026
How many financial advisors does Read & Powell Financial Services have?
Read & Powell Financial Services has 3 investment adviser representatives registered with state securities authorities, out of 3 employees, and 3 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 Read & Powell Financial Services invest in?
At the end of its last fiscal year, Read & Powell Financial Services’ separately managed accounts held 56% registered funds (mutual funds, ETFs, BDCs), 27% exchange-traded equities and 14% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Read & Powell Financial Services?
Read & Powell Financial Services is owned through a holding company by Eric Wiseman. Its direct owners are Nick Konakis (50% to 75%) and Eric Wiseman LLC (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 17 March 2026
How does Read & Powell Financial Services get paid?
Read & Powell Financial Services is paid through a percentage of assets under management and hourly charges. 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 Read & Powell Financial Services registered with the SEC?
Yes, Read & Powell Financial Services has been registered with the SEC as an investment adviser since 26 May 2021. Its CRD number is 130189 and its SEC file number is 801-121309.
Source: Form ADV Part 1A, Item 1, filed 17 March 2026; IAPD firm record
How do I contact Read & Powell Financial Services?
Read & Powell Financial Services’ main office is at 491 5th Street, Elko, NV 89801. Its phone number is 775-738-4430. Its website is readandpowell.com.