Segment Wealth Management, LLC
Segment Wealth Management, LLC  | |
|---|---|
 | |
| Company type | Privately held company |
| Industry | Financial Services |
| Founded | October 2012 |
| Founder | Gil Baumgarten |
| Headquarters | Houston, Texas |
| Key people | Gil Baumgraten (CEO) |
| AUM | $1.2 Billion, 2022 |
| Website | segmentwm |
Segment Wealth Management is a fiduciary and fee-only financial advisory firm based in Houston, Texas. Its services include investment development strategies, risk management, and approaches to tax minimization.[1]
The firm is a SEC-registered limited liability company reporting $1.2 billion in assets under management. Segment Wealth Management serves high-net-worth individuals, non-profit organizations, trustees, executors, and outsourced family offices. Its portfolio strategies are developed around clients' values, risk tolerance, and reward expectations, with the aim of supporting their financial objectives.[2][3]
History
In 2012, after leaving the brokerage industry, Gil Baumgarten founded Segment Wealth Management as a fiduciary advisory firm focused on representing clients and their interests.[4]
That same year, Segment Wealth Management, LLC registered with the SEC as an Investment Adviser Firm.[5]
At the beginning of the COVID-19 pandemic in 2020, Baumgarten sought ways to support local businesses experiencing difficulties. One of his efforts involved distributing his lunch budget across the Houston area by arranging catered midday meals for his employees each day.
Also in 2020, Baumgarten received an Honorable Mention in the Lifetime Achievement category from Invest in Others, a charitable foundation that recognizes philanthropy within the financial services industry.[6]
By December 31, 2022, Segment Wealth Management reported more than $1.2 billion in assets under management. At that time, the firm had 209 clients and 960 accounts.[7]
Services
Gil Baumgarten heads Segment Wealth Management's wealth management operations. The firm provides wealth and asset management services intended to simplify the investment process, including through the management of costs and taxes. As a registered fiduciary, Segment Wealth Management is required to act in the best interests of its clients.[8]
Segment Wealth's approach emphasizes low fees, tax efficiency, and long-term investment outcomes. Client assets are allocated according to individual risk tolerance, while investment strategies are adjusted to correspond with clients' particular financial objectives.
Under Baumgarten, the firm uses strategies including Exchange Traded Funds and its Tax-Efficient Dividend Growth Strategy. The firm has also positioned these approaches apart from stock-market trends that may attract other investors.[9]
Segment Wealth Management accepts clients whose investment approaches and risk tolerances are compatible with the firm's philosophy. The firm has reportedly added approximately $50 million in new accounts annually and has developed into a billion-dollar company serving qualified high-net-worth individuals and outsourced family offices prepared to invest at least $5 million.[10]
Awards and recognition
Segment Wealth Management has been recognized by Barrons[11] and the Houston Business Journal among advisory firms in the United States and the Greater Houston area.
Following its establishment in 2012, Segment Wealth Management became a top-twenty Houston firm according to the Houston Business Journal.[12] In 2022, Barron's included Gil Baumgarten among the Top 25 Financial Advisors in Texas.[13]
Philanthropy
Gil Baumgarten has participated in various charitable organizations, including the National Christian Foundation, Turning Point USA, and Open Door Mission. The latter is a faith-based recovery facility serving Houston's homeless community, and its men's ensemble has been invited to perform at Segment Wealth Management's annual Christmas celebration.
Baumgarten has also been involved with LifeHouse Houston, a ministry offering housing and support to women experiencing unplanned pregnancies, for more than 25 years. He serves on its Advisory Council and previously worked as a resident houseparent. He is also described as a trusted advisor who can assist the ministry with financial decisions when needed.[14]
References
- ↑ "Is Segment Wealth Management a legitimate company?". Digital Journal. Retrieved 3 August 2024.
- ↑ "Segment Wealth Management's extraordinary growth in FY21". Digital Journal. Retrieved 3 August 2024.
- ↑ "2022 Firm Review: Segment Wealth Management". Digital Journal. Retrieved 3 August 2024.
- ↑ "How this Ex-Broker Created a Billion Dollar Wealth Management Firm". Digital Journal. Retrieved 3 August 2024.
- ↑ "Best-In-State Wealth Advisors". Forbes. Retrieved 3 August 2024.
- ↑ "Segment Wealth Management's Gil Baumgarten Prioritizes Philanthropy Through Generosity and Charitable Investments". Digital Journal. Retrieved 3 August 2024.
- ↑ "Former Broker Builds Billion-Dollar Wealth Management Firm With Client Advocacy and Long-Term Investment Strategies". ceoweekly.com. 27 March 2023. Retrieved 3 August 2024.
- ↑ "Is Segment Wealth Management a legitimate company?". Digital Journal. Retrieved 3 August 2024.
- ↑ "Segment Wealth Management Unveils Initiatives to Help Navigate Market Volatility". Business Insider. Retrieved 3 August 2024.
- ↑ "Segment Wealth Management Unveils Initiatives to Help Navigate Market Volatility". Yahoo Finance. Retrieved 3 August 2024.
- ↑ "2024 Top 1200 U. S. Financial Advisors Ranked by State". [www.barrons.com](http://www.barrons.com). Retrieved 3 August 2024.
- ↑ "2023 Largest Houston-area wealth management firms and practices, investment minimums over $1 million". [www.bizjournals.com](http://www.bizjournals.com). Retrieved 3 August 2024.
- ↑ VIEWS, CIO (31 May 2023). "From Financial Advisor to Published Author: Gil Baumgarten's Multi-Faceted Success". CIO VIEWS. Retrieved 3 August 2024.
- ↑ "Segment Wealth's Gil Baumgarten is Investing in Others". Digital Journal. Retrieved 3 August 2024.