Segment Wealth Management, LLC

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Segment Wealth Management, LLC
Privately held company
IndustryFinancial Services
FoundedOctober 2012; 10 years ago (2012-10)
FounderGil Baumgarten
HeadquartersHouston, Texas
Key people
Gil Baumgraten (CEO)
AUM$1.2 Billion, 2021
Websitesegmentwm.com

Segment Wealth Management is a fiduciary, fee-only financial advisory company headquartered in Houston, Texas. The firm offers strategies for investment development, risk management, and tax minimization.[1]

Segment Wealth Management is a SEC-registered, limited liability company with 1.2 billion dollars in assets under management.[2] Segment works with high net-worth individuals, non-profit organizations, trustees, executors, and outsourced family offices. Segment Wealth Management builds portfolios based on its clients’ values and risk and rewards tolerance to help them achieve their financial objectives.[3]

History

After escaping the brokerage world in 2012, Gil Baumgarten started Segment Wealth Management, a fiduciary advisory firm where he could advocate for his clients and their best interests.[4]

In 2012, Segment Wealth Management, LLC became SEC-registered as an Investment Adviser Firm.[5]

When the pandemic began in 2020, Gil Baumgarten began looking for ways to help local businesses that were struggling to stay in business. He began distributing his lunch money throughout the Houston area, catering the mid-day meal for his employees on a daily basis. In 2020, Baumgarten received an Honorable Mention in the Lifetime Achievement category by Invest in Others, a charitable foundation that celebrates the generosity of the financial services industry.[6]

As of December 31, 2021, Segment has more than $1.2 Billion in assets under management, with a total of 191 clients and a number of 800 accounts.[7]

Services

Gil Baumgarten leads the company’s wealth management. Segment Wealth offers both wealth and asset management services designed to reduce friction in the investment process, especially costs and taxes. As a registered fiduciary firm, Segment Wealth Management is legally required to act in the best interest of its clients.[8]

Segment Wealth’s business model focuses on low fees, tax efficiency, and long-term results. The firm allocates clients’ assets according to their risk appetite and optimizes investment strategies to their specific goals.

Under Baumgarten’s leadership, Segment Wealth employs its core strategies such as Exchange Traded Funds and the Tax-Efficient Dividend Growth Strategy, while staying away from the stock market trends that may appeal to other investors.[9]

Segment Wealth only works with clients whose investment and risk tolerance philosophies align with itw own. With new accounts coming in at a rate of about $50 million per year, Segment has grown into a billion-dollar company that serves only qualified clients who are high-net-worth individuals or outsourced family offices willing to put up at least $5 million.[10]

Awards and Recognition

Segment Wealth Management was recognized by Barrons[11] and the Houston Business Journal as one of the top advisory firms in America and the Greater Houston area. Since its inception in 2012, Segment Wealth Management has grown into a top-fifteen firm in Houston, as recognized by the Houston Business Journal.[12] In 2022, Barron’s named Gil Baumgarten in the Top 35 Financial Advisors in Texas.[13]

Philanthropy

Gil Baumgarten is involved in a number of charities, including Young Life, Star of Hope, and Open Door Mission, a faith-based recovery facility for Houston's homeless community whose men's ensemble group has been invited to perform at Segment Wealth's annual Christmas celebration.

Gil Baumgarten has been involved with LifeHouse Houston, a ministry that provides housing and support to women experiencing unplanned pregnancies, for over 25 years. He's a member of the Advisory Council, a former resident houseparent, and a trusted advisor who can help the ministry with financial decisions at any time.[14]

References

  1. "Is Segment Wealth Management a legitimate company?". austininquirer.com. Retrieved 16 June 2022.
  2. "Segment Wealth Management's extraordinary growth in FY21". stlouisgazette.com. Retrieved 16 June 2022.
  3. "2022 Firm Review: Segment Wealth Management". sandiegoobserver.com. Retrieved 16 June 2022.
  4. "How this Ex-Broker Created a Billion Dollar Wealth Management Firm". fresnoinquirer.com. Retrieved 16 June 2022.
  5. "2022 Firm Review: Segment Wealth Management". bridgeportexaminer.com. Retrieved 16 June 2022.
  6. "How this Ex-Broker Created a Billion Dollar Wealth Management Firm". fresnoinquirer.com. Retrieved 16 June 2022.
  7. "Segment Wealth Management's extraordinary growth in FY21". losangelesinquirer.com. Retrieved 16 June 2022.
  8. "Is Segment Wealth Management a legitimate company?". philadelphiachronicle.com. Retrieved 16 June 2022.
  9. "How this Ex-Broker Created a Billion Dollar Wealth Management Firm". nycsun.com. Retrieved 16 June 2022.
  10. "How this Ex-Broker Created a Billion Dollar Wealth Management Firm". dallassentinel.com. Retrieved 16 June 2022.
  11. Garmhausen, Steve. "These Are America's Top 1,200 Financial Advisors". www.barrons.com. Retrieved 16 June 2022.
  12. "2021 Largest Houston-area wealth management firms with investment minimums over $1 million". www.bizjournals.com. Retrieved 16 June 2022.
  13. "Segment Wealth Management's extraordinary growth in FY21". denverreporter.com. Retrieved 16 June 2022.
  14. "Segment Wealth's Gil Baumgarten is Investing in Others". oaklandgazette.com. Retrieved 16 June 2022.

External Links