Veritas Wealth Management provides financial planning and portfolio management for individuals and small businesses.
Veritas Wealth Management reports 222 clients. They include 139 individual clients and 83 high-net-worth individuals. Of its assets, 97.3% ($214M across 662 accounts) are managed with discretion; $6M across 3 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 63% | 29% |
| High-net-worth individuals | 37% | 71% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 139 | $63M | 28.7% | $453K |
| High-net-worth individuals | 83 | $157M | 71.3% | $1.89M |
| Total | 222 | $220M | 100% | $990K |
- Clients
- 139
- Regulatory AUM
- $63M
- AUM share
- 28.7%
- Avg. per client
- $453K
- Clients
- 83
- Regulatory AUM
- $157M
- AUM share
- 71.3%
- Avg. per client
- $1.89M
Total
- Clients
- 222
- Regulatory AUM
- $220M
- AUM share
- 100%
- Avg. per client
- $990K
- 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
Veritas Wealth Management charges 0.65%–1.25% a year for its Wealth Management Services. The whole portfolio is charged at the rate of its band. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$1M | 1.25% |
| $1M–$2.5M | 1.00% |
| $2.5M–$5M | 0.85% |
| $5M and above | 0.65% |
Fee details and sources
Other fees
- Financial Planning
- Financial planning is a fixed fee typically ranging from $1,500 to $6,000, or an hourly fee of up to $350 per hour.
Michael Abbood owns 50% to 75% of Veritas Wealth Management. The leadership team of Veritas Wealth Management includes Chief Compliance Officer Thomas Abbood. It has 4 employees, 2 of them in advisory roles.
Leadership
- Thomas AbboodChief Compliance Officer, Principal and Wealth Advisor
Michael AbboodPrincipal and Wealth Advisor
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 50% to 75% of Veritas Wealth Management LLC
Michael Abbood
Control person · since May 2023
- Owns 50% to 75% of Veritas Wealth Management LLC
Thomas Abbood
Control person · since May 2023
Besides its headquarters, Veritas Wealth Management has 0 offices, with 1 listed address in Rhode Island.
Rhode Island · 1 listed address
- 1130 Ten Rod Road, Suite E207, North KingstownHQ
Contact and registration details
- Legal name
- Veritas Wealth Management LLC
- Headquarters
- 1130 Ten Rod Road, Suite E207, North Kingstown, RI 02852
- Website
- veritaswealthri.com
- Phone
- 401-296-3606
- SEC file
- 801-136200
- Structure
- Rhode Island LLC
- Fiscal year end
- December
Veritas Wealth Management uses Charles Schwab ($214M) as custodian for its separately managed accounts. Veritas Wealth Management does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $214M100%
At year end, Veritas Wealth Management’s separately managed accounts were mostly in funds (75%) and stocks (21%).
What the accounts hold
- Stocks21%
- Funds75%
- Bonds2%
- State and local bonds1%
- Investment grade corporate bonds1%
- Cash2%
How many clients does Veritas Wealth Management have?
Veritas Wealth Management has 222 clients and manages $220 million for them, as of August 2026. They include 139 individual clients and 83 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 19 August 2026
What services does Veritas Wealth Management offer?
Veritas Wealth Management provides financial planning and portfolio management for individuals and small businesses.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Veritas Wealth Management charge?
Veritas Wealth Management charges 0.65%–1.25% a year for its Wealth Management Services. The whole portfolio is charged at the rate of its band. The fee is billed in advance and is negotiable.
Source: 07 15 2026 VWM FORM ADV 2A AND B FINAL, filed 15 July 2026
Which custodians does Veritas Wealth Management use?
Veritas Wealth Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $214M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 19 August 2026
How many financial advisors does Veritas Wealth Management have?
Veritas Wealth Management 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 Veritas Wealth Management invest in?
At the end of its last fiscal year, Veritas Wealth Management’s separately managed accounts held 75% registered funds (mutual funds, ETFs, BDCs), 21% exchange-traded equities, 2% cash and equivalents, 1% state and local bonds and 1% investment grade corporate bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Veritas Wealth Management?
Veritas Wealth Management’s direct owners are Michael Abbood (50% to 75%) and Thomas Abbood (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 19 August 2026
How does Veritas Wealth Management get paid?
Veritas 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 Veritas Wealth Management registered with the SEC?
Yes, Veritas Wealth Management has been registered with the SEC as an investment adviser since 7 May 2026. Its CRD number is 341084 and its SEC file number is 801-136200.
Source: Form ADV Part 1A, Item 1, filed 19 August 2026; IAPD firm record
How do I contact Veritas Wealth Management?
Veritas Wealth Management’s main office is at 1130 Ten Rod Road, Suite E207, North Kingstown, RI 02852. Its phone number is 401-296-3606. Its website is veritaswealthri.com.