Segment Wealth Management provides portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, and selecting other managers.
Segment Wealth Management reports 236 clients. They include 170 high-net-worth individuals, 51 individual clients and 8 charitable organizations. Of its assets, 100.0% ($2.07B across 1,214 accounts) are managed with discretion. Of its clients, 1% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 22% | <1% |
| High-net-worth individuals | 72% | 96% |
| Pension and profit-sharing plans | 3% | <1% |
| Charitable organizations | 3% | 2% |
| 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) | 51 | $18.1M | 0.9% | $356K |
| High-net-worth individuals | 170 | $1.99B | 96.1% | $11.7M |
| Pension and profit-sharing plans | 7 | $17.9M | 0.9% | $2.56M |
| Charitable organizations | 8 | $31.1M | 1.5% | $3.88M |
| Corporations and other businesses | Fewer than 5 | $13.7M | 0.7% | — |
| Total | 236 | $2.07B | 100% | — |
- Clients
- 51
- Regulatory AUM
- $18.1M
- AUM share
- 0.9%
- Avg. per client
- $356K
- Clients
- 170
- Regulatory AUM
- $1.99B
- AUM share
- 96.1%
- Avg. per client
- $11.7M
- Clients
- 7
- Regulatory AUM
- $17.9M
- AUM share
- 0.9%
- Avg. per client
- $2.56M
- Clients
- 8
- Regulatory AUM
- $31.1M
- AUM share
- 1.5%
- Avg. per client
- $3.88M
- Clients
- Fewer than 5
- Regulatory AUM
- $13.7M
- AUM share
- 0.7%
- Avg. per client
- —
Total
- Clients
- 236
- Regulatory AUM
- $2.07B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
Segment Wealth Management charges 1.00%–1.25% a year for its Investment advisory services. The fee is billed in advance and is negotiable.
Fee details and sources
Gab Interests, Inc. owns 75% or more of Segment Wealth Management and is in turn owned by Gil Baumgarten (75% or more). Gil Baumgarten is CEO; the leadership team includes Chief Compliance Officer Gwen Wilmeth. It has 12 employees, 5 of them in advisory roles.
Leadership
- Gil BaumgartenChief Executive Officer
- Gwen WilmethChief Compliance Officer
Investment adviser representatives
3 representatives listed in the SEC register as of 9 October 2026.
- Gil A Baumgarten
- Jennifer Marie Heerensperger
- Garrett Ryan Hizer
Staff
- 12 employees
- 5 in advisory functions
- 2 state-registered reps
- 1 soliciting firm
- Owns 75% or more of Segment Wealth Management, LLC
Gab Interests, Inc.
Control person · since September 2009
- Owns 75% or more of Gab Interests, Inc.
Gil Baumgarten
Control person · since September 2009
Segment Wealth Management’s regulatory assets grew 2.3× from $903M (May 2021) to $2.07B (September 2026); clients rose from 191 to 236 and employees from 9 to 12.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| September 2026 | $2.07B | 236 | 12 | 1 |
| March 2025 | $1.76B | 234 | 12 | 1 |
| March 2024 | $1.41B | 223 | 9 | 1 |
| March 2023 | $1.17B | 213 | 9 | 1 |
| March 2022 | $1.21B | 193 | 9 | 1 |
| May 2021 | $903M | 191 | 9 | 1 |
Besides its headquarters, Segment Wealth Management has 0 offices, with 1 listed address in Texas.
Texas · 1 listed address
- 2200 Post Oak BLVD, Suite 1400, HoustonHQ
Contact and registration details
- Legal name
- Segment Wealth Management, LLC
- Headquarters
- 2200 Post Oak BLVD, Suite 1400, Houston, TX 77056
- Website
- segmentwm.com
- Phone
- 713-800-7150
- @segment-asset-management
- SEC file
- 801-77071
- Structure
- Texas LLC
- Fiscal year end
- December
Segment Wealth Management uses Charles Schwab ($2.02B) as custodian for its separately managed accounts. Segment Wealth Management has custody of $162M in client assets for 37 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $2.02B100%
At year end, Segment Wealth Management’s separately managed accounts were mostly in stocks (64%) and funds (25%). Its reported 13F holdings for the quarter ended 30 June 2026 total $1.93B across 312 positions; the largest are Vanguard Index Fds (6.3%), Berkshire Hathaway Inc. Del (4.2%) and GE Vernova Inc. (3.6%).
What the accounts hold
- Stocks64%
- Funds25%
- Bonds4%
- Cash6%
- Other1%
- Annuities1%
Reported 13F holdings
- $1.93B
- Reported 13F value
- 312
- Positions
- 31.8%
- In the 10 largest
- +13.1%
- Value vs. prior quarter
- Vanguard Index Fds · Total Stk Mkt6.3%
- Berkshire Hathaway Inc. Del · CL B New4.2%
- GE Vernova Inc.3.6%
- Broadcom Inc.3.3%
- Invesco Qqq TR · Unit Ser 12.9%
- ASML Hldg NV · N Y Registry Shs2.6%
- Nvidia Corporation2.5%
- Apple Inc.2.3%
- Caterpillar Inc.2.3%
- Alphabet Inc. · Cap Stk CL A1.7%
Together, the ten largest are 31.8% of reported value.
How many clients does Segment Wealth Management have?
Segment Wealth Management has 236 clients and manages $2.07 billion for them, as of September 2026. They include 170 high-net-worth individuals, 51 individual clients and 8 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 25 September 2026
What services does Segment Wealth Management offer?
Segment Wealth Management provides portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Segment Wealth Management charge?
Segment Wealth Management charges 1.00%–1.25% a year for its Investment advisory services. The fee is billed in advance and is negotiable.
Which custodians does Segment Wealth Management use?
Segment Wealth Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $2.02B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 25 September 2026
How many financial advisors does Segment Wealth Management have?
Segment Wealth Management has 2 investment adviser representatives registered with state securities authorities, out of 12 employees, and 5 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 Segment Wealth Management invest in?
At the end of its last fiscal year, Segment Wealth Management’s separately managed accounts held 64% exchange-traded equities, 25% registered funds (mutual funds, ETFs, BDCs), 6% cash and equivalents, 4% state and local bonds and 1% other. The 1% other category is described as: Annuities.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Segment Wealth Management?
Segment Wealth Management is owned through a holding company by Gil Baumgarten. Its direct owner is Gab Interests, Inc. (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 25 September 2026
How does Segment Wealth Management get paid?
Segment Wealth Management 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 Segment Wealth Management registered with the SEC?
Yes, Segment Wealth Management has been registered with the SEC as an investment adviser since 27 August 2012. Its CRD number is 164877 and its SEC file number is 801-77071.
Source: Form ADV Part 1A, Item 1, filed 25 September 2026; IAPD firm record
How do I contact Segment Wealth Management?
Segment Wealth Management’s main office is at 2200 Post Oak BLVD, Suite 1400, Houston, TX 77056. Its phone number is 713-800-7150. Its website is segmentwm.com.